Akebono Brake Announces Revision to Financial Forecasts.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, Oct 30, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Akebono Akebono means dawn in Japanese. Akebono may also refer to:
TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 7238) today announced revisions to its financial forecasts previously announced on May 8, 2006 for the first half and full fiscal year ending March 31, 2007 on a consolidated and parent basis. I. Consolidated Revisions to Financial Forecasts
1) H1 (Apr. 1 - Sep. 30, 2006) (Millions of yen)
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Net Operating Ordinary Net
Sales Profit Profit Income
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Previously forecast (A) 82,500 6,200 5,800 3,300
(Announced May 8, 2006)
Revised forecast (B) 86,219 6,101 5,096 2,817
Difference (B-A) 3,719 (99) (704) (438)
Difference (%) 4.5 (1.6) (12.1) (14.6)
Previous Half Year 64,305 4,574 4,664 2,133
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2) FY 2006 (Apr. 1, 2006 - Mar. 31, 2007) (Millions of yen)
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Net Operating Ordinary Net
Sales Profit Profit Income
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Previously forecast (A) 170,000 14,000 13,200 7,500
(Announced May 8, 2006)
Revised forecast (B) 172,000 14,000 12,400 7,500
Difference (B-A) 2,000 -- (800) --
Difference (%) 1.2 -- (6.1) --
Previous Half Year 142,260 11,730 11,025 5,857
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Parent Revisions to Financial Forecasts
1) H1 (Apr. 1 - Sep. 30, 2006) (Millions of yen)
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Net Operating Ordinary Net
Sales Profit Profit Income
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Previously forecast (A) 53,000 2,500 2,600 1,500
(Announced May 8, 2006)
Revised forecast (B) 50,990 1,287 1,260 1,025
Difference (B-A) (2,010) (1,213) (1,340) (475)
Difference (%) (3.8) (48.5) (51.5) (31.7)
Previous Half Year 51,151 3,018 3,110 1,771
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2) FY 2006 (Apr. 1, 2006 - Mar. 31, 2007) (Millions of yen)
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Net Operating Ordinary Net
Sales Profit Profit Income
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Previously forecast (A) 107,000 5,100 5,200 3,100
(Announced May 8, 2006)
Revised forecast (B) 103,500 3,100 3,000 2,100
Difference (B-A) (3,500) (2,000) (2,200) (1,000)
Difference (%) (3.3) (39.2) (42.3) (32.3)
Previous Half Year 104,164 6,173 7,779 2,535
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II. Reasons for revisions (to forecasts announced on May 8, 2006) 1) Consolidated forecasts First Half Increased net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and Asian regions accounted for an upward forecast of 3.72 billion yen (+4.5%) in consolidated net sales. Higher material prices and exchange rates in Japan, and increased income in North America America [for Amerigo Vespucci], the lands of the Western Hemisphere—North America, Central (or Middle) America, and South America. The world map published in 1507 by Martin Waldseemüller is the first known cartographic use of the name. and Asia led to an operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. forecast slightly below the one previously announced. Ordinary profit and net profit forecasts were lowered by 0.7 billion yen (-12.1%) and 0.48 billion yen (-14.6%) respectively due to higher interest rates. Fiscal year While a decrease in orders in the Japanese Japanese (jăp'ənēz`), language of uncertain origin that is spoken by more than 125 million people, most of whom live in Japan. There are also many speakers of Japanese in the Ryukyu Islands, Korea, Taiwan, parts of the United States, and market was expected to impact net sales in the second half, a 3.72 billion yen increase in the first half is expected to contribute to a 2.0 billion yen (+1.2%) increase above the previous forecast. While operating profit forecasts are in line with those previously announced due to the benefits of rationalization rationalization, in psychology: see defense mechanism. in the first half, the impact of higher interest rates on ordinary profit in the first half is expected to continue into the second half, leading to a 0.8 billion yen (-6.1%) decrease. The net profit forecast is unchanged due to an extraordinary loss recorded ahead of schedule in the first half and a reduced tax effect. 2) Parent forecasts First Half Net sales are expected to be lower by 2.01 billion yen (-3.8%) than previously forecast due mainly to a decrease in OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and orders. The forecast for ordinary profit is 1.34 billion yen (-51.5%) lower than previously announced due to the effect of lower net sales, an adjustment in price setting for payables Payables Related: Accounts payable from manufacturing subsidiaries, and higher material prices. The forecast for net profit is 0.48 billion yen (-31.7%) lower than first announced. Fiscal Year For the second half, the forecast for net sales is 3.5 billion yen (-3.3%) lower than originally announced, although net sales are expected to recover in the fourth quarter. Due to the effect of lower sales and higher material prices continuing from the first half, the forecast for ordinary profit is 2.2 billion yen (-42.3%) lower than originally forecast and net profit is expected to be 1.0 billion yen (-32.2%) lower than originally forecast. Dividends are expected to be 6 yen per share (3 yen for the interim period), as previously forecast. (This release contains forecasts and forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are based on current business conditions. Changes in future business conditionsmay cause actual results to differ). About Akebono Brake Industry Co., Ltd. Akebono Brake Industry, Co., Ltd. (TSE: 7238), established in 1929, is a world leader in advanced brake and friction material development and production. Akebono's portfolio includes brake products for automobiles, motorbikes, rolling stock rolling stock Any of various readily movable transportation equipment such as automobiles, locomotives, railroad cars, and trucks. Rolling stock generally makes good collateral for loans because the equipment is standardized and easily transportable among , and industrial machinery, and sensor A device that measures or detects a real-world condition, such as motion, heat or light and converts the condition into an analog or digital representation. An optical sensor detects the intensity or brightness of light, or the intensity of red, green and blue for color systems. products for automobiles. The Akebono Group operates R&D centers in Japan, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and France, and has wholly owned or affiliated manufacturing facilities in Japan, the United States, France, China and Indonesia Indonesia (ĭn'dənē`zhə), officially Republic of Indonesia, republic (2005 est. pop. 241,974,000), c.735,000 sq mi (1,903,650 sq km), SE Asia, in the Malay Archipelago. . Akebono recorded net sales of 142.3 billion yen in the fiscal year ended March 31, 2006, and employs over 6,000 people worldwide on a consolidated basis. For more information, please visit www.akebono-brake.co.jp Source: Akebono Brake Industry Co., Ltd. Contact: Akebono Brake Industry Co., Ltd. Corporate Communications Office Matthew Nicholson Tel: +81-3-3668-5183 Fax: +81-3-5695-7391 Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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