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Tokyo, November 11, 2009 - At a meeting of its board of directors today, CSK HOLDINGS CORPORATION ("CSK") decided to revise its consolidated full-year forecasts for fiscal year ending March 31, 2010, which were announced on September 8, 2009. The revisions, which are based on recent earnings trends, are detailed below.
1. Revisions to consolidated full-year forecasts (April 1, 2009 to March 31, 2010)
(Million yen)
| |
Revenue |
Operating income
(loss) |
Ordinary income
(loss) |
Net income
(loss) |
Net income (loss) per
share (¥) |
Previously announced forecast
(A) (announced Sept. 8, 2009) |
195,000 |
1,600 |
3,100 |
(54,000) |
(672.84) |
| Revised forecast (B) |
173,000 |
3,600 |
3,100 |
(54,000) |
(672.84) |
| Difference (B-A) |
(22,000) |
2,000 |
-- |
-- |
-- |
| Change in % |
(11.3%) |
125.0% |
-- |
-- |
-- |
For reference:
Previous full-year results
(Apr. 1, 2008 to Mar. 31, 2009) |
206,099 |
(123,066) |
(122,479) |
(161,529) |
(2,097.39) |
2. Reasons for revisions
With regards to the outlook for our consolidated earnings performance in the fiscal year ending March 31, 2010, the operating environment remains challenging, with a number of companies, under pressure to curtail capital investment as a result of earnings deterioration, having lost their keenness for IT investment, and sometimes cutting back on new projects as a result. Within this environment, the order situation remains harsh; and, as a result, we now expect that revenues will be less than we forecast earlier. On the other hand, we also expect that operating income will exceed our previous forecast, reflecting such factors as progress with cost reduction as we seek to revitalize the Company, improved earnings in the securities business, and a withdrawal from the real estate securitization business. We leave our forecasts for ordinary income and net income unchanged on our expectation that the increase in operating income will be offset by an increase in losses to be incurred on the withdrawal from the real estate securitization business and a booking of write-downs on investment securities.
Note: The above forecasts are based on information available as of the date of their announcement. Actual earnings results may differ from these forecasts for a variety of reasons.
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