Morinaga : Notice of Revision of Consolidated Financial Forecasts
August 31, 2017 at 12:58 am EDT
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Press Release
Company name: Morinaga & Co., Ltd.
August 9, 2017
Representative: Toru Arai, Representative Director, President
(Code: 2201; First Section of Tokyo Stock Exchange) Contact: Ayako Kunichika, General manager, Corporate
Communication Dept. (TEL: +81-3-3456-0150)
Notice of Revision of Consolidated Financial Forecasts
Morinaga & Co., Ltd. (the "Company") hereby announces that its consolidated financial forecasts announced on May 12, 2017, have been revised as described below in light of trends in its recent business performance and other factors.
Revision of the consolidated financial forecasts for the first six months of the fiscal year ending March 31, 2018 (from April 1 to September 30, 2017)
Net sales
Operating income
Ordinary income
Profit attributable to owners of parent
Net income per share
Previously announced forecast (A)
Million yen
Million yen
Million yen
Million yen
Yen
103,500
10,800
11,100
7,700
147.98
Revised forecast (B)
106,000
12,100
12,500
8,500
163.35
Change (B - A)
2,500
1,300
1,400
800
Percentage change
2.4
12.0
12.6
10.4
Ref. consolidated results of the first six months of the previous fiscal year (ended March 31, 2017)
99,005
11,213
11,564
7,828
150.43
Revision of the consolidated financial forecasts for the fiscal year ending March 31, 2018 (from April 1, 2017 to March 31, 2018)
Net sales
Operating income
Ordinary income
Profit attributable to owners of parent
Net income per share
Previously announced forecast (A)
Million yen
Million yen
Million yen
Million yen
Yen
205,000
18,000
18,500
12,600
242.14
Revised forecast (B)
207,500
19,300
19,900
13,400
257.52
Change (B - A)
2,500
1,300
1,400
800
Percentage change
1.2
7.2
7.6
6.3
Ref. consolidated results of the previous fiscal year
(ended March 31, 2017)
199,479
17,612
18,325
11,115
213.60
Reason for the revisions
In the consolidated results for the first three months of the fiscal year under review, the Company achieved significant growth in its income, primarily as a result of increased net sales in the mainstay Food Manufacturing business and an improved cost-of-sales ratio.
Considering this, the consolidated results for the first six months of the fiscal year under review are likely to exceed the financial forecasts previously announced. Consequently, the Company has revised its forecasts for the first six months and full year of the fiscal year under review.
* The financial forecasts presented in this document were prepared based on information available to the Company at the time of the announcement, which may differ materially from the actual results due to various factors arising in the future.
Morinaga & Co. Ltd. published this content on 09 August 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 31 August 2017 04:57:06 UTC.
Original documenthttp://www.morinaga.co.jp/english/ir/pdf/IR_Topics_170809.pdf
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Morinaga & Co., Ltd. is a Japan-based company mainly engaged in food manufacturing, food wholesale, real estate and services etc. The Company operates in three segments. The Food Manufacturing segment is engaged in manufacturing of confectionaries, foods, frozen desserts, jelly drinks, etc. The Food Wholesale segment is engaged in wholesales of commercial food. The Real Estate and Services segment is engaged in real estate rental business and management of golf courses. Other business involves in the financial services and other activities.