REG - Mitsubishi Corp. - Revision of Forecast for Nihon Shokuhin Kako

Nihon Shokuhin Kako CoAnnouncement

31/01/2022 08:35

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RNS Number : 1158A  Mitsubishi Corporation  31 January 2022

January 31, 2022

 

(Abridged version of report filed with the Tokyo Stock Exchange on January 31,
2022)

 

Notice Regarding Revision of Forecast for Non-Consolidated Results for

Fiscal Year Ending March 31, 2022 for Nihon Shokuhin Kako Co., Ltd.

 

Mitsubishi Corporation (MC) today announced that its consolidated subsidiary
Nihon Shokuhin Kako Co., Ltd. (Nihon Shokuhin) has provided information
regarding the revision of its forecast for non-consolidated results for the
fiscal year ending March 31, 2022.

 

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

 

Please see the attached documents from Nihon Shokuhin for details.

 

 

 

 

 

 

 

 

January 31, 2022

 

(Translation of report filed with the Tokyo Stock Exchange on January 31,
2022)

 

Notice Regarding Revised Forecast for Non-Consolidated Results

for Fiscal Year Ending March 31, 2022

 

This notice serves to provide information on a revision of Nihon Shokuhin Kako
Co., Ltd. (Nihon Shokuhin)'s non-consolidated results forecast for the fiscal
year ending March 31, 2022.

 

Details are as follows.

 

1.    Differences between Nihon Shokuhin's forecast for the fiscal year
ending March 31, 2022 that was announced on April 30, 2021 and its revised
forecast that was announced today

(for period beginning on April 1, 2021 and ending on March 31, 2022)

 　                                       Net Sales       Operating Income  Ordinary Income  Net Income      Net Income

(million yen)
(million yen)
(million yen)
(million yen)
Per Share (yen)
 Previous forecast (A)                   49,000          900               1,200            900             182.97
 Revised forecast (B)                    50,500          1,400             1,700            1,250           254.13
 Difference (B-A)                        1,500           500               500              350             -
 Difference (%)                          3.1%            55.6%             41.7%            38.9%           -
 Actual results                          45,060          1,518             1,673            1,229           250.03

(for fiscal year ended March 31,2021)

 

Reasons for Revisions:

-        Sales are expected to increase due to product price
rationalization caused by rising production costs due to surging raw material
corn and crude oil prices, as well as the expected sales-price increases in
the By-products segment as a result of escalating grain prices.

-       Although profits are expected to decline in the fourth quarter
due to increases in raw materials, fuel and other manufacturing costs, as well
as scheduled repair work at the Mizushima Plant. However, they are expected to
exceed the forecast announced on April 30, 2021.

 

 

 

2.    Revision for Dividend Forecast

 　                                        Annual Dividend
                                          End of 1st quarter  End of 2(nd) quarter  End of 3(rd) quarter  End of Fiscal year  Total
 Previous forecast                        -                   -                     -                     65.00 yen           65.00 yen

 ( April 30, 2021)
 Revised forecast                         -                   -                     -                     90.00 yen           90.00 yen
 Current year results                     -                   -                     -                     --                  --
 Previous year results                    -                   -                     -                     85.00 yen           85.00 yen

(for fiscal year ended March 31, 2021)

 

Reason for Revisions:

-        The year-end dividend has been revised to 90.00 yen per share
in accordance with the aforementioned revision of the company's full-year
earnings forecast.

 

* The above forecasts are based on information currently available, but actual
results may vary due to future circumstances.

 

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