Revised Forecast FY03
16 September 2003 - 5:03PM
UK Regulatory
RNS Number:7971P
Toshiba Corporation
16 September 2003
FOR IMMEDIATE RELEASE
September 16, 2003
Toshiba Issues Revised Business Forecasts for FY2003
TOKYO--Toshiba Corporation today issued revised consolidated and
non-consolidated business forecasts for the first half and full fiscal year to
March 31, 2004. The company also announced its intention to nullify its interim
dividend for the first half of the current fiscal term.
1. Consolidated forecast
Today's announcement revises downwards the forecast that Toshiba issued with the
announcement of its results for the last fiscal year, on April 25, 2003. The key
points are as in the table below.
(1) 1st Half FY2003 (Apr. 1st, 2003 - Sept. 30, 2003) (Y billion)
Net Sales Income (Loss) Before Net Income
Income Taxes and (Loss)
Minority Interest
Original Forecast (A) 2,640 -10 -15
Revised Forecast (B) 2,600 -20 -25
(B)-(A) -40 -10 -10
1H/FY2002 2,635.1 -43.8 -26.4
(2) FY2003 (Apr. 1st, 2003 - Mar. 31, 2004) (Y billion)
Net Sales Operating Income (Loss) Net Income
Income Before Income (Loss)
Taxes and
Minority Interest
Original Forecast (A) 5,700 170 90 40
Revised Forecast (B) 5,650 140 90 35
(B)-(A) -50 -30 - -5
FY2002 5,655.8 115.5 53.1 18.5
2. Non-consolidated forecast
Today's announcement revises downwards the forecast that Toshiba issued with the
announcement of its results for the last fiscal year, on April 25, 2003. The key
points are as in the table below.
(1) 1st Half, FY2003 (Apr. 1st, 2003 - Sept. 30, 2003) (Y billion)
Net Sales Recurring Net Income
Profit (Loss) (Loss)
Original Forecast (A) 1,520 3 0
Revised Forecast (B) 1,460 -15 0
(B)-(A) -60 -18 -
1H/FY2002 1,554.9 -22.4 47.1
(2) FY2003 (Apr. 1st, 2003 - Mar. 31, 2004) (Y billion)
Net Sales Recurring Net Income
Profit (Loss) (Loss)
Original Forecast (A) 3,120 70 25
Revised Forecast (B) 3,020 40 25
(B)-(A) -100 -30 0
FY2002 3,408.2 43.3 83.3
3. Reasons for revision
While Electronic Devices and Social Infrastructure segments are performing
favorably, this does not compensate for worsening results in the Digital
Products segment.
4. Planned Interim dividend for 1H/FY2003
In accordance with the revisions described above, the board of Toshiba today
decided the intention to nullify its interim dividend, as it did last year. The
dividend payment for the end of the current fiscal year, which was 3-yen per
share for the last fiscal year, is yet to be decided.
Forward looking statement:
This contains forward-looking statements concerning Toshiba's future plans,
strategies and performance. These forward-looking statements are not historical
facts, rather they represent assumptions and beliefs based on economic,
financial and competitive data currently available. Furthermore, they are
subject to a number of risks and uncertainties that, without limitation, related
to economic conditions, worldwide mega-competition in the electronics business,
customer demand, foreign currency exchange rates, tax rules, regulations and
other factors. Toshiba therefore wishes to caution that actual results may
differ materially from our expectations.
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