NGK INSULATORS, LTD.


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Release: January 31, 2014

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 Revisions to the Business Forecast for the Full-Year

NGK INSULATORS, LTD. (NGK) hereby announces that it has revised the consolidated business forecasts for fiscal 2013 announced on October 30, 2013 in light of recent performance trends.

1. Revisions to Business Forecasts

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
290,000 34,000 36,000 25,000 76.56
Revised forecast (B) 305,000 42,000 45,000 27,000 82.68
Change (B - A) 15,000 8,000 9,000 2,000 -
Percentage-change (%) 5.2% 23.5% 25.0% 8.0% -
For Reference: Results from previous year
(full-year of fiscal 2013)
252,789 20,695 22,029 11,422 34.98

2. Reasons for revisions

Regarding net sales, for the Ceramics Business Group, it is expected to greatly exceed the previous forecasts due to the increase of automotive products demands caused by the adoption of new regulations for trucks in China, the steady high-end automobile sales in Europe and the increase of mid-size truck sales in America in addition to the impact of a weaker yen. For the Electronics Business Group, it is also expected to exceed the previous forecasts because of the higher demands for ceramic components in semiconductor manufacturing equipment caused by the recovery of investments in the semiconductor industry. As a result, net sales of the Company as a whole is also expected to exceed the previous forecasts substantially.

Operating income and ordinary income are both expected to exceed the previous forecasts due to a sales increase and the impact of the depreciation of the yen in the foreign exchange market. Net income is also expected to exceed the previous forecasts at a smaller scale compared to operating income and ordinary income, due to the posting of impairment loss in the insulator sector of the Power Business Group which has been under a tough business environment. The exchange rates from January onward are assumed to be 100 yen to the US dollar and 140 yen to the Euro. The average exchange rates for the period are assumed to be 99 yen to the US dollar and 134 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.

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
Previous Forecast Revised Forecast
Total Consolidated Sales 252.8 290.0 305.0
Consolidated Op. Income 20.7 34.0 42.0
Op. Income Ratio 8% 12% 14%
Power Business Consolidated Sales 57.8 60.0 60.0
Consolidated Op. Income (5.7) (3.0) (3.0)
Op. Income Ratio - - -
Ceramic Products Business Consolidated Sales 144.1 175.0 187.0
Consolidated Op. Income 26.0 35.0 42.0
Op. Income Ratio 18% 20% 22%
Electronics Business Consolidated Sales 51.1 55.0 58.0
Consolidated Op. Income 0.4 2.0 3.0
Op. Income Ratio 1% 4% 5%

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PDFNotice Regarding Revisions to the Business Forecast for the Full-Year (PDF:65KB)


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