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TOKYO, June 25, 2004 - CSK CORPORATION ("CSK") today issued revised consolidated and non-consolidated interim and full year forecasts for the fiscal year ending March 31, 2005. Details of the revised forecasts are as follows, along with the previous forecasts issued on May 13, 2004.
1. Reason for revision of forecasts
Vodafone Group Plc indicated that it wished to buy CSK Group's holdings of Vodafone K.K. shares, and after investigating the proposal CSK decided to sell its shares in Vodafone K.K. to Vodafone International Holdings B.V. A contract with Vodafone International Holdings B.V. regarding this sale was completed on June 25, 2004.
Moreover, CSK has decided to participate in a tender offer by Vodafone International Holdings B.V. for the shares of Vodafone Holdings K.K.
CSK forecasts for the fiscal year have been revised due to the expected gain on sales of investments in securities.
2. Revised consolidated forecasts
(1) Full-year forecasts (Fiscal year from April 1, 2004 to March 31, 2005)
|
|
(¥ million)
|
|
|
Net sales
|
Ordinary income
|
Net income
|
| Previous (A)
|
400,000 |
34,000 |
4,500 |
| Revised (B)
|
400,000 |
34,000 |
16,000 |
| Change (B) - (A)
|
-- |
-- |
11,500 |
| Change in percent
|
-- |
-- |
255.6% |
Fiscal year ended
March 31, 2004 |
378,472 |
30,565 |
21,424 |
|
(2) Interim forecasts (April 1, 2004 to September 30, 2004)
|
|
(¥ million) |
|
|
Net sales
|
Ordinary income
|
Net income (loss)
|
|
Previous (A)
|
180,000 |
13,000 |
(5,500) |
|
Revised (B)
|
180,000 |
13,000 |
6,000 |
|
Change (B) - (A)
|
-- |
-- |
11,500 |
|
Change in percent
|
-- |
-- |
-- |
Interim period ended
September 30, 2003 |
170,410 |
12,075 |
3,073 |
|
| Note: |
The above full year and interim forecast revisions do not include results from consolidated subsidiary Cosmo Securities Co., Ltd., as Cosmo Securities Co., Ltd. does not issue forecasts. |
|
3. Revised non-consolidated forecasts
(1) Full-year forecasts (Fiscal year from April 1, 2004 to March 31, 2005)
|
|
(¥ million)
|
|
|
Net sales
|
Ordinary income
|
Net income
|
| Previous (A)
|
153,000 |
12,500 |
7,500 |
| Revised (B)
|
153,000 |
12,500 |
13,700 |
| Change (B) - (A)
|
-- |
-- |
6,200 |
| Change in percent
|
-- |
-- |
82.7% |
Fiscal year ended
March 31, 2004 |
146,420 |
10,063 |
18,527 |
|
(2) Interim forecasts (April 1, 2004 to September 30, 2004)
|
|
(¥ million) |
|
|
Net sales
|
Ordinary income
|
Net income
|
|
Previous (A)
|
68,000 |
5,500 |
3,300 |
|
Revised (B)
|
68,000 |
5,500 |
9,500 |
|
Change (B) - (A)
|
-- |
-- |
6,200 |
|
Change in percent
|
-- |
-- |
187.9% |
Interim period ended
September 30, 2003 |
62,846 |
4,293 |
2,489 |
|
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