Company name: Fuji Heavy Industries Ltd.
Representative: Mr. Ikuo Mori, President and CEO
Code number: 7270 (1st section of Tokyo Stock Exchange)
Contact for inquiries; Mr. Kazuto Sakamoto
General Manager of Administration Department
Phone: (03)-3347-2005
Revision of Performance Projection for Fiscal Year Ending March 31, 2008
Considering the current business trend, Fuji Heavy Industries Ltd. (FHI) has announced the revision of performance projection for Fiscal Year Ending March 31, 2008 (From April 1, 2007 to March 31, 2008) which was released at the timing of consolidated basis financial results announcement on July 31, 2007.
1. Revision of consolidated basis performance projection for 1st half of Fiscal 2008 (From April 1, 2007 to September 30, 2007)
| Net sales | Operating income | Ordinary income |
Net income | |
|---|---|---|---|---|
| Previous projection (A) | 690,000 | 10,000 | 5,000 | 0 |
| Revised projection (B) | 708,800 | 18,900 | 14,100 | 7,800 |
| Increase and decrease (B-A) | 18,800 | 8,900 | 9,100 | 7,800 |
| Change of percentage (%) | 2.7% | 89.0% | 182.0% | － |
| Actual results of 1st half of fiscal 2007 (Ended September 30, 2006) | 698,676 | 18,126 | 13,883 | 11,604 |
2. Reason of revision of consolidated basis performance projection for 1st half of Fiscal 2008
Revision of net sales was due to the overseas sales increase and so on.
In terms of operating income and ordinary income, we have revised the projection according to the following factors.
| Factors of revision | 1st half of Fiscal 2008 | |
|---|---|---|
| Operating income | Decrease of SG&A expenses and others etc. | +89 |
| Ordinary income | Increase of operating income etc. | +91 |
| Net income | Increase of ordinary income and improvement of extraordinary gains and losses | +78 |
3. Revision of consolidated basis performance projection for Fiscal year ending March 2008 (From April 1, 2007 to March 31, 2008)
| Net sales | Operating income | Ordinary income |
Net income | |
|---|---|---|---|---|
| Previous projection (A) | 1,550,000 | 35,000 | 30,000 | 16,000 |
| Revised projection (B) | 1,560,000 | 40,000 | 35,000 | 17,000 |
| Increase and decrease (B-A) | 10,000 | 5,000 | 5,000 | 1,000 |
| Change of percentage (%) | 0.6% | 14.3% | 16.7% | 6.3% |
| Actual results of fiscal 2007 (Ended March 31, 2007) | 1,494,817 | 47,906 | 42,215 | 31,899 |
4. Reason of revision of consolidated basis performance projection for Fiscal 2008
Revision of net sales is due to the expected overseas sales increase and so on.
In terms of operating income and ordinary income, we have revised the projection according to the following factors。
| Factors of revision | Fiscal 2008 | |
|---|---|---|
| Operating income | Decrease of SG&A expenses and others etc. | +140 |
| Deterioration of sales volume and mixture and others | (90) | |
| Ordinary income | Increase of operating income etc. | +50 |
| Net income | Increase of ordinary income etc. | +10 |
Note: Above mentioned projections are based on certain assumptions and our management’s judgment in light of currently available information, therefore actual results may differ from these projections.
End.