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

Nihon Shokuhin Kako CoAnnouncement

29/01/2021 08:31

RNS Number : 3423N
  
Mitsubishi Corporation
  
29 January 2021
  
 

January 29, 2021
 
(Abridged version of report filed with the Tokyo Stock Exchange on January 29, 2021)
 
Notice Regarding Revision of Forecast for Non-Consolidated Results for 
Fiscal Year Ending March 31, 2021 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, 2021.
 
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 29, 2021
 
(Translation of report filed with the Tokyo Stock Exchange on January 29, 2021)
 
Notice Regarding Revised Forecast for Non-Consolidated Results 
for Fiscal Year Ending March 31, 2021
 
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 ended March 31, 2021.
 
Details are as follows.
 
1.    Differences between Nihon Shokuhin's forecast for the fiscal year ended March 31, 2021 that was announced on October 30, 2020 and its revised forecast that was announced today 
(for period beginning on April 1, 2020 and ending on March 31, 2021)




　


Net Sales

(million yen)


Operating Income

(million yen)


Ordinary Income

(million yen)


Net Income

(million yen)


Net Income

Per Share (yen)




Previous forecast (A)


44,500


850


950


700


142.31




Revised forecast (B)


44,700


1,300


1,350


1,000


203.30




Difference (B-A)


200


450


400


300


-




Difference (%) 


0.4%


52.9


42.1%


42.9%


-




Actual results

(for fiscal year ended March 31,2020) 


45,265


11


284


238


48.52




 
2.    Reasons for Differences
Based on Nihon Shokuhin's third quarter results for the fiscal year ended March 2021, it has revised its full-year forecast as indicated above. Actual third-quarter profits exceeded the October 30 forecast due to reductions in fuel and other production costs, as well as lower-than-anticipated selling, general and administrative expenses.
Nihon Shokuhin's expectations that its sales, operating income, ordinary income and net income will exceed its October 30 forecast come despite expectations for lower profits in the fourth quarter due to a sharp rise in the price of corn on the Chicago market, which counter expectations for a slight increase in sales over that same period.
 
 
 
3. Revision for Dividend Forecast




　


Annual Dividend




 


End of 1st quarter


End of 2nd quarter


End of 3rd quarter


End of Fiscal year


Total




Previous forecast 
( October 30, 2020)


-


-


-


50.00 yen


50.00 yen




Revised forecast 


-


-


-


70.00 yen


70.00 yen




Current year results


-


-


-


--


--




Previous year results

(for fiscal year ended March 31, 2020) 


-


-


-


25.00 yen


25.00 yen




 
Reason for Amendment
The year-end dividend has been revised to 70.00 yen per share in accordance with the upward revision of the full-year earnings forecast as stated above.
 
*The above forecasts are based on information currently available, but actual results may vary due to future circumstances.
 

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