Fuji Heavy Industries Ltd
| Revised Projections for
Fiscal 2001(from April 1,2000 to march 31,2001) and Revised estimated dividend |
We inform to revise below.
 |
Net Sales | Ordinary income |
Net income | |
| Non-Consolidated (1st half) 00/09 | Previous estimate (A) | 430,000 | 15,000 | 8,000 |
| Revised estimate (B) | 430,000 | 22,000 | 13,000 | |
| Difference (B-A) | 0 | 7,000 | 5,000 | |
| Ratio (%) | 0.0% | 46.7% | 62.5% | |
|
|
Net Sales | Ordinary income |
Net income | |
| Non-Consolidated (Full year) 01/03 | Previous estimate (A) | 920,000 | 40,000 | 17,000 |
| Revised estimate (B) | 920,000 | 47,000 | 26,000 | |
| Difference (B-A) | 0 | 7,000 | 9,000 | |
| Ratio (%) | 0.0% | 17.5% | 52.9% | |
|
|
Net Sales | Ordinary income | Net income | |
| Consolidated (Full year) 01/03 |
Previous estimate (A) | 1,330,000 | 60,000 | 25,000 |
| Revised estimate (B) | 1,330,000 | 68,000 | 20,000 | |
| Difference (B-A) | 0 | 8,000 |  5,000
|
|
| Ratio (%) | 0.0% | 13.3% |
20.0% |
|
2. Revised Projections for Dividends per share
|
|
Interim | Year-end | Annual |
| Previous estimate | �4.0 | �4.0 | �8.0 |
| Revised estimate | �4.5 | �4.5 | �9.0 |
| Fiscal 2000 | �4.0 | �5.0 | �9.0 |
3. Reasons for Revision of Earnings Forecast
A portion of allowance for valuation of investments (�31 billion) previously provided for investments in certain subsidiaries is to be reversed in conjunction with the adoption of the new accounting standards for financial instruments, which is effective for the current fiscal year. (Non-consolidated results of operations only)
Previously the Company planned to amortize over 5 years unrecognized retirement benefit obligations arising from the adoption of the new accounting standards for retirement benefits. The Company is to change the plan to recognize the entire amount of such unrecognized obligations in the first half of the current fiscal year. (Consolidated-�44 billion; non-consolidated-�33 billion)
With respect to non-consolidated results of operations, the above two factors do not have a significant impact because the amount of the reversal of allowance for valuation of investments approximates the amount of the one-time charge for retirement benefit obligations. With respect to consolidated results of operations, the reversal of allowance for valuation of investments is not applicable as it relates to investments in subsidiaries. It is forecasted, however, that the negative impact of the charge for retirement benefit obligations will be mostly absorbed by increases in operating profits of the Company and subsidiaries.
An estimated increase in income from ordinary activities is attributable to reductions in manufacturing costs and selling, general and administrative expenses.
