Mitsubishi Corp. - Subsidiary Revision of Earning Forecasts

Nihon Shokuhin Kako Co

26/04/2019 08:44

RNS Number : 2269X

Mitsubishi Corporation

26 April 2019

 

April 26, 2019

 

(Abridged version of report filed with the Tokyo Stock Exchange on April 26, 2019)

 

Notice Concerning Differences Between Forecast Announced on October 31, 2018 and Actual Results for Non-Consolidated Results for Fiscal Year Ending March 31, 2019 for Mitsubishi Corporation Subsidiary NIHON SHOKUHIN KAKO CO., LTD.

 

Mitsubishi Corporation (MC) today announced that its consolidated subsidiary NIHON SHOKUHIN KAKO CO., LTD. has provided information regarding the differences between its forecast announced on October 31, 2018 and its actual non-consolidated results for the fiscal year ending March 31, 2019.

 

The current situation is expected to have a negligible impact on MC's consolidated performance.

 

Please see the attached documents from NIHON SHOKUHIN KAKO CO., LTD for details.

 

April 26, 2019

(Translation of report filed with the Tokyo Stock Exchange on April 26, 2019)

 

Notice Regarding Differences Between Forecast Announced on October 31, 2018 and Actual Results for Non-Consolidated Results for Fiscal Year Ending March 31, 2019

 

This notice serves to provide information on differences between (the subsidiary's) forecast announced on October 31, 2018 and (its) actual non-consolidated results for the fiscal year ended March 31, 2019.

 

Details are as follows.

 

1.    Differences between forecast announced on October 31, 2018 and actual non-consolidated results for fiscal year ended March 31, 2019

(for period beginning on April 1, 2018 and ending on March 31, 2019)

Net Sales
 (million yen)
Operating Income
 (million yen)
Ordinary Income
 (million yen)
Net Income
 (million yen)
Net Income
 Per Share (yen)
Previous forecast (A)
46,700
0
300
250
50.80
Actual Results (B)
46,959
27
397
283
57.72
Difference (B-A)
259
27
97
33
-
Difference (%)
0.6%
-
32.5%
13.6%
-
Actual results
 (for fiscal year ended March 31, 2018)
48,196
1,038
1,124
997
202.82

 

2.    Reasons for Differences

Actual Revenues and Operating Income for the fiscal year ended March 31, 2019 were higher than those forecasted due to increases in paper industry starch sales and beverage industry sweetener sales. Actual Ordinary Income was also higher than that forecasted, partly due to insurance benefits received for typhoon damage that was suffered in the fourth quarter of that year.

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END

 

 

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