Mitsubishi Corporation Subsidiary Revision of Earnings Forecasts (8355R)
31 October 2023 - 6:00PM
UK Regulatory
TIDM17NX
RNS Number : 8355R
Mitsubishi Corporation
31 October 2023
Translation of report filed with the Tokyo Stock Exchange on
October 31, 2023
Notice Regarding Revision of Forecast for Non-Consolidated
Results for
Fiscal Year Ending March 31, 2024 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, 2024.
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.
Translation of report filed with the Tokyo Stock Exchange on
October 31, 2023
Notice Regarding Revised Forecast for Non-Consolidated
Results
for Fiscal Year Ending March 31, 2024
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, 2024.
Details are as follows.
1. Differences between Nihon Shokuhin's forecast for the fiscal
year ending March 31, 2024 that was announced on April 28, 2023 and
its revised forecast that was announced today
(for period beginning on April 1, 2023 and ending on March 31,
2024)
Net Sales Operating Ordinary Net Income Net Income
(million Income Income (million Per Share
yen) (million (million yen) (yen)
yen) yen)
Previous forecast
(A) 66,000 1,800 2,000 1,700 345.63
---------- ---------- ---------- ----------- -----------
Revised forecast
(B) 66,500 3,000 3,300 2,700 548.95
---------- ---------- ---------- ----------- -----------
Difference
(B-A) 500 1,200 1,300 1,000 -
---------- ---------- ---------- ----------- -----------
Difference
(%) 0.8 66.7 65.0 58.8 -
---------- ---------- ---------- ----------- -----------
Actual results
(for fiscal
year ended
March 31,2023) 64,612 3,540 3,341 2,605 529.79
---------- ---------- ---------- ----------- -----------
Reasons for Revisions:
- Sales volume is expected to be much higher than expected,
thanks largely to strong sales of saccharified products for
beverages, demand for which increased due to the hot summer and
resumption of economic activity.
- Sales are expected to decrease due to lower grain prices,
Improving production efficiency and reducing various costs.
- Based on the above, the full-year forecast for Sales,
Operating income, Ordinary profit and Net income are expected to
exceed the previous forecast.
2. Dividend of surplus (interim dividend) and Revision for Dividend Forecast
(1) Dividend of surplus (interim dividend)
Determined Amount Previous forecast Previous period
(July 31, 2023) results
Reference date September 30, Same as left -
2023
------------------ ------------------ ----------------
Dividend per 100.00yen 60.00 yen -
share
------------------ ------------------ ----------------
Total dividend 491(million yen) - -
amount
------------------ ------------------ ----------------
Effective date December 5, 2023 - -
------------------ ------------------ ----------------
Dividend source surplus - -
------------------ ------------------ ----------------
(2) Revision for Dividend Forecast
Annual Dividend
End of End of End of End of Total
1st quarter 2(nd) quarter 3(rd) quarter Fiscal
year
------------- --------------- --------------- ---------- -------
Previous forecast - 60.00 yen - 65.00 yen 125.00
( July 31, yen
2023)
------------- --------------- --------------- ---------- -------
Revised forecast - - - 100.00 200.00
yen yen
------------- --------------- --------------- ---------- -------
Current year - 100.00yen - -- --
results
------------- --------------- --------------- ---------- -------
Previous year - - - 180.00 180.00
results yen yen
(for fiscal
year ended
March 31,
2023)
------------- --------------- --------------- ---------- -------
Reason for Revisions:
- The year-end dividend has been revised to 200.00 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.
(End)
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