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Concerning the full fiscal year forecast, we made downward revisions on January 16.
Net Sales which will be 132.3 billion yen below the previous fiscal year results taking into consideration of the fewer vehicles sold and the tendency towards a stronger yen in foreign exchange. This is comprised of loss on currency exchange of 100 billion yen, a decrease of 25.6 billion due to the deterioration of sales volume and mixture and a decrease of 6.7 billion yen for the three internal companies sales, etc.
Concerning operating income, as will be explained later in detail, we expect operating income will be decreased 54.7 billion yen, to a 9 billion yen loss. Loss on currency exchange are expected. We changed the assumption of individual exchange rates for February and March of the fourth quarter to 90 yen per U.S. dollar, the full fiscal year forecast to 101 yen per U.S. dollar, and also revised to 120 yen per Euro and to 146 yen for the full fiscal year. In addition, reduced research and development expenses and improvement in sales volume and mixture are not expected to compensate for the impact of higher raw material prices and increased fixed costs and other overhead.
Following on this, similar ordinary loss of 9 billion yen and net loss for the current term of 19 billion yen are forecasted. |
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