Release: July 31, 2013
|Company Name:||NGK INSULATORS, LTD.|
|Stock Exchange Listings:||Tokyo and Nagoya|
|Representative:||Taro Kato (Mr.)|
|Contact:||Hideaki Shindo (Mr.)|
|Finance & Accounting Department|
NGK INSULATORS, LTD. does hereby advise that it has revised the business forecast for fiscal 2013 announced on May 14, 2013 in light of recent performance trends.
Forecast consolidated financial results for the first half of fiscal 2013
(April 1, 2013 to September 30, 2013)
|Net sales||Operating income||Ordinary income||Net income||Net income
|Previous forecast (A)||Millions of yen||Millions of yen||Millions of yen||Millions of yen||Yen|
|Revised forecast (B)||138,000||14,000||14,000||9,000||27.56|
|Change (B - A)||3,000||2,000||4,000||1,000||3.06|
|For Reference: Results from previous year
As regards forecast consolidated financial results for the first half of fiscal 2013, net sales, operating income, ordinary income and net income are all expected to surpass the previous forecasts announced on May 14, 2013. The major reasons for the upward revision are steady demand in the Chinese and US markets for automotive products in the Ceramic Products Business Group, recovery of the market for ceramic components in semiconductor manufacturing equipment in the Electronics Business Group and a weaker yen than previously forecast.
The average exchange rates during this period are assumed to be 99 yen to the US dollar and 128 yen to the Euro.
The forecast full-year financial results at this time remain unchanged from those previously forecast due to the existence of many future uncertainties such as the continuing harsh business environment in the Insulators Sector, economic trends in developing nations and the pace of economic recovery in the US. In the event that any revisions to the full-year business forecast are required, NGK will announce those as soon as possible. The exchange rates for the first half year are assumed to be 99 yen to the US dollar and 128 yen to the Euro and those of the second half year are assumed to be 90 yen to the US dollar and 120 yen to the Euro.
Business forecasts are based on information available at the time of the release, but are subject to many uncertainties. Actual results therefore may vary from forecasts due to changes in business conditions and other factors. Your understanding is appreciated.
Consolidated Results - Segment Information
(After Elimination of Inter-Segment Transactions)
(Billions of yen)
ending September 30, 2013
ending March 31, 2014
(announced May 14, 2013)
|Previous Forecast||Revised Forecast|
|Consolidated Op. Income||120||140||280|
|Op. Income Ratio||9%||10%||10%|
|Power Business||Consolidated Sales||290||270||620|
|Consolidated Op. Income||(15)||(15)||(20)|
|Op. Income Ratio||-||-||-|
|Ceramic Products Business||Consolidated Sales||800||830||1,660|
|Consolidated Op. Income||130||145||290|
|Op. Income Ratio||16%||17%||17%|
|Electronics Business||Consolidated Sales||260||280||520|
|Consolidated Op. Income||5||10||10|
|Op. Income Ratio||2%||4%||2%|