NGK INSULATORS, LTD.


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Release: October 30, 2013

Company Name: NGK INSULATORS, LTD.
Listing Code: 5333
Stock Exchange Listings: Tokyo and Nagoya
Representative: Taro Kato (Mr.)
President
Contact: Hideaki Shindo (Mr.)
General Manager
Finance & Accounting Department
(TEL: +81-52-872-7230)

Notice Regarding Differences between Business Forecast and Actual Results for the First Half of Fiscal 2013 and Revisions to Business Forecast for the Full-Year

NGK INSULATORS, LTD. (NGK) announces differences between its consolidated business forecasts for the first half of fiscal 2013 released on July 31, 2013 and the actual consolidated financial results for the same period announced today.

In addition, NGK hereby notifies that it has revised the consolidated business forecasts for the full-year of fiscal 2013 announced on May 14, 2013 in light of recent performance trends.

1. Differences between the consolidated business forecasts and actual 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
per share
Previous forecast (A) Millions of yen Millions of yen Millions of yen Millions of yen Yen
138,000 14,000 14,000 9,000 27.56
Actual result (B) 141,763 19,660 19,592 12,629 38.67
Change (B - A) 3,763 5,660 5,592 3,629 -
Change (%) 2.7% 40.4% 39.9% 40.3% -
For Reference: Results from previous year
(first half of fiscal 2013)
121,665 11,330 7,977 1,153 3.53

2. Revisions to the consolidated business forecasts for the full-year of fiscal 2013 (April 1, 2013 to March 31 , 2014)

  Net sales Operating income Ordinary income Net income Net income
per share
Previous forecast (A) Millions of yen Millions of yen Millions of yen Millions of yen Yen
280,000 28,000 29,000 22,000 67.37
Revised forecast (B) 290,000 34,000 36,000 25,000 76.56
Change (B - A) 10,000 6,000 7,000 3,000 -
Change (%) 3.6% 21.4% 24.1% 13.6% -
For Reference: Results from previous year
(first half of fiscal 2013)
252,789 20,695 22,029 11,422 34.98

3. Reasons for the revisions

(1) Forecast of consolidated business results for the first half of fiscal 2013

As regards to the forecast consolidated financial results for the first half of fiscal 2013, net sales, operating income, ordinary income and net income all exceeded the previous forecasts announced on July 31, 2013. The major reasons for the differences were increases in demand for automotive products such as ceramic catalyst carrier, HONEYCERAM and LARGE HONEYCERAM, due to the steady automobile sales in the American, Chinese and Japanese market in the Ceramic Products Business.

(2) Forecast of consolidated business results for the full-year

Net sales in the Power Business Group is expected to fall below the previous forecasts due to the continuous capital investment restraint of power companies in the insulator sector and the carryforward of some foreign projects to the fiscal 2014. In the Ceramics Business Group, net sales is expected to exceed the previous forecasts due to the steady automobile sales in the American, Chinese and Japanese market in the automotive products sector. In the Electronics Business Group, net sales is expected to exceed the previous forecasts due to the recovery of the market for ceramic components in semiconductor manufacturing equipment. Net sales of the Company as a whole is also expected to exceed the previous forecast.

Operating income, ordinary income and net income are all expected to exceed the previous forecasts due to a sales increase and the impact of the change in exchange rates.

The exchange rates for the second half year are assumed to be 95 yen to the US dollar and 125 yen to the Euro. The average exchange rates during the period are assumed to be 97 yen to the US dollar and 127 yen to the Euro.

Business forecasts are based on information available at the time of the release, and 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.

reference

Consolidated Results-Segment Information
(After Elimination of Inter-Segment Transactions)

(Billions of yen)

  FY 2012 ended March 31, 2013 Results FY 2013 ending March 31, 2014
2nd Quarter Full-year 2nd Quarter Results Full-year Forecasts
Previous Forecasts Results Previous Forecasts Revised Forecasts
Total Consolidated Sales 1,217 2,528 1,380 1,418 2,800 2,900
Consolidated Op. Income 113 207 140 197 280 340
Op. Income Ratio 9% 8% 10% 14% 10% 12%
Power Business Consolidated Sales 267 577 270 268 620 600
Consolidated Op. Income (43) (57) (15) (8) (20) (30)
Op. Income Ratio - - - - - -
Ceramic Products Business Consolidated Sales 685 1,440 830 873 1,660 1,750
Consolidated Op. Income 143 260 145 194 290 350
Op. Income Ratio 21% 18% 17% 22% 17% 20%
Electronics Business Consolidated Sales 265 511 280 277 520 550
Consolidated Op. Income 13 4 10 11 10 20
Op. Income Ratio 5% 1% 4% 4% 2% 4%

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PDFNotice Regarding Revisions to the Business Forecast for the First Half of Fiscal 2013 (PDF:72KB)


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