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The projection for this fiscal year remains the same as was forecasted at the beginning of the year.
This is because further rises in raw material prices are expected, whilst increases in R&D expenses related to environmental issue, SG&A expenses and fixed manufacturing costs are anticipated, although operating income and ordinary income in the first half of the fiscal year were revised upwards as a result of the weaker yen.
While an improvement of sales mixture overseas was factored into the estimate for the first half, we do not change the estimate of sales mixture, including sales volume, for the full year, as the market environment is becoming tougher, especially in the US.
Based on this analysis, we do not revise our projection for the full year at this point.
FHI exchange rate is estimated at 103 yen/US$ for the first half, 100 yen/US$ for the second half, and 102 yen/US$ for the full year.
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