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Release: July 31, 2014

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

Notice Regarding Revisions to the Business Forecasts for
the First Half and the Full-Year of the Fiscal 2014

NGK INSULATORS, LTD. (NGK) hereby announces that it has revised the consolidated business forecasts for the first half and the full-year of the fiscal 2014 announced on May 15, 2014 in light of recent performance trends.

1. Revisions to Business Forecast

(1) Forecasts of consolidated financial results for the six months ending September 30, 2014 (April 1, 2014 to September 30, 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
160,000 22,000 21,000 14,500 44.40
Revised forecast (B) 165,000 27,500 26,500 18,500 56.65
Change (B - A) 5,000 5,500 5,500 4,000 -
Change (%) 3.1% 25.0% 26.2% 27.6% -
For Reference: Results from previous year
(the six months ending September 30, 2013)
141,763 19,660 19,592 12,629 38.67

(2) Forecast consolidated financial results for the full year ending March 31, 2015 (April 1, 2014 to March 31, 2015)

  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
340,000 48,000 50,000 34,000 104.12
Revised forecast (B) 350,000 56,000 58,000 39,000 119.43
Change (B - A) 10,000 8,000 8,000 5,000 -
Change (%) 2.9% 16.7% 16.0% 14.7% -
For Reference: Results from previous year
(the year ending March 31, 2014)
308,671 44,252 45,819 27,045 82.82

2. Reasons for revisions

(1) Reasons for revisions to the business forecast for the six months ending September 30, 2014

As for the consolidated financial results forecasts for the six months ending September 30, 2014, despite certain delays forecasted in the shipment of NAS® batteries in the Power Business Segment, due to the growing demand for automotive ceramics in the Ceramics Business Segment reflecting the strong sales of diesel engine-automobiles in the European market and large trucks in the U.S. market, the NGK Group predicts net sales, operating income, ordinary income and net income to exceed the forecasts announced in May 2014. The average exchange rates of ¥101/USD and ¥138/EUR were applied to this period.

(2) Reasons for revisions to the business forecast for the full year ending March 31, 2015

In terms of the full year ending March 31, 2015, the forecasts of consolidated financial results have been revised in light of the upward revision of the forecasts for the six months ending September 30, 2014, reflecting the strong sales of automotive ceramics in the Ceramics Business Segment.

The forecasts for the second half of the fiscal year assume exchange rates of ¥100/USD and ¥135/EUR. (Average exchange rates for the year: ¥101/USD and ¥137/EUR)

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 2014
Ending September 30, 2014
FY 2014
Ending March 31, 2015
Previous Revised Previous Revised
Total Consolidated Sales 160 165 340 350
Consolidated Op. Income 22 28 48 56
Op. Income Ratio 14% 17% 14% 16%
Power Business Consolidated Sales 32 28 75 71
Consolidated Op. Income (2) (2) (2) (3)
Op. Income Ratio - - - -
Ceramic Business Consolidated Sales 98 106 204 215
Consolidated Op. Income 22 28 46 54
Op. Income Ratio 22% 26% 23% 25%
Electronics Business Consolidated Sales 30 31 61 64
Consolidated Op. Income 2 2 4 5
Op. Income Ratio 7% 7% 7% 7%

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PDFNotice Regarding Revisions to the Business Forecasts for the First Half and the Full-Year of the Fiscal 2014 (PDF:72KB)


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