Company name: Fuji Heavy Industries Ltd.
Representative: Mr. Ikuo Mori, President and CEO
Code number: 7270 (First Section of Tokyo Stock Exchange)
Contact for inquiries; Mr. Toshimasa Nakamura
General Manager of Administration Department
Phone: (0)3-3347-2005
Revision of Performance Projection
for the Fiscal Year 2011 (from April 1, 2010 to March 31, 2011)
Considering the current business trend, Fuji Heavy Industries Ltd. (FHI) has announced the revision of performance projection for the fiscal year ending March 31, 2011 (from April 1, 2010 to March 31, 2011) which was released at the timing of consolidated financial results announcement on May 7, 2010.
Revision of consolidated basis performance projection for the Fiscal 2011 (from April 1, 2010 to March 31, 2011)
| Net sales | Operating Income | Ordinary Income |
Net Income | Net Income Per Share (yen) | |
|---|---|---|---|---|---|
| Previous projection (A) | 1,470,000 | 43,000 | 38,000 | 23,000 | 29.53 |
| Revised projection (B) | 1,590,000 | 70,000 | 68,000 | 50,000 | 64.15 |
| Increase and decrease (B-A) | 120,000 | 27,000 | 30,000 | 27,000 | - |
| Change of percentage (%) | 8.2 | 62.8 | 78.9 | 117.4 | - |
| Actual results of the fiscal 2010 (ended March 31, 2010) | 1,428,690 | 27,350 | 22,361 | -16,450 | -21.11 |
Reason of revision
The previous projection of fiscal year ending March 2011 is revised as described above. This revision takes into account our expectations for favorable automobile sales particularly in North America and China despite the anticipated foreign exchange loss due to the strong yen (against the US$).
The revised projection of the current fiscal year is based on assumed foreign exchange rates of ¥86/US$1.0 (¥89 at the previous announcement) and ¥113/EUR1.0 (unchanged from the previous announcement). Also, the outlook for the second half of the current fiscal year is based on assumed foreign exchange rates of ¥83/US$1.0 and ¥110/EUR1.0.
| 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.