Chiyoda Announces Upward Revisions in Forecasts for Operating Results and Dividend.YOKOHAMA Yokohama (yō'kōhä`mä), city (1990 pop. 3,220,331), capital of Kanagawa prefecture, SE Honshu, Japan, on the western shore of Tokyo Bay. , Japan -- Chiyoda Corporation (ISIN Isin (ĭs`ĭn), capital of an ancient Semitic kingdom of N Babylonia. The city became important after the third dynasty of Ur fell to the Elamites and the Amorites (c.2025 B.C.). The phase from c.2025–c.1763 B.C. : JP3528600004), Japan's leading engineering and construction firm, today revised its forecasts for 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 from construction contracts, profits and dividends for the fiscal year ending March 31, 2005. Chiyoda cited steady progress in construction projects and a yen weaker than what had been projected at the beginning of the fiscal year to explain the revisions to the interim sales forecast Sales forecast A key input to a firm's financial planning process. External sales forecasts are based on historical experience, statistical analysis, and consideration of various macroeconomic factors. . Ordinary profit and net profit forecasts have been revised due to higher-than-expected sales and to an improvement in the operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: . Along with the above reasons, the consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: revisions reflect the strong performances at consolidated subsidiaries. Chiyoda now expects to report consolidated interim ordinary profit of 5,000 million yen, 1,700 million yen or 51.5% higher than the previous forecast, on net sales from construction contracts of 115,000 million yen, 15,000 million yen or 15.0% higher than the previous forecast. Interim net profit is now estimated at 5,000 million yen, 1,600 million yen or 47.1% higher. Consolidated forecasts for the fiscal year that were announced at the beginning of the fiscal year have been revised due to the outlook for a continuation continuation - continuation passing style in the strong performance at consolidated subsidiaries that was recorded during the first half and the impact on new orders of the sharply higher cost of materials and equipment. Chiyoda now expects consolidated net sales from construction contracts for the full fiscal year to be 250,000 million yen, 30,000 million yen or 13.6% higher than the previous forecast. Ordinary profit is likely to exceed the previous forecast by 1,600 million yen or 22.5% to reach 8,700 million yen. Net profit is projected at 8,300 million yen, up 1,000 million yen, or 13.7%, from the previous forecast. At the beginning of the fiscal year, Chiyoda estimated that it would pay a dividend per share of between 3 yen and 5 yen. Based on these revisions to the forecasts, Chiyoda is now revising this dividend forecast to 5 yen. |
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