Disclaimer: This document is an English translation of the original document in Japanese and has been prepared solely for reference purposes. In the event of any discrepancy between this English translation and the original in Japanese, the original shall prevail in all respects.
July 27, 2022 | |
To whom it may concern: | |
Company Name: | Japan Aviation Electronics Industry, Limited |
Representative: | Tsutomu Onohara, President |
(Securities number: 6807 Tokyo Stock Exchange Prime Market) | |
Contact: | Kazuhiko Aoki |
Associate Senior Vice President | |
General Manager Accounting and Financial Division | |
(Phone:+81-3-3780-2752) |
Announcement of Revisions to Financial Results Forecast
Japan Aviation Electronics Industry, Limited (the "Company") hereby announces the following revisions to its consolidated financial results forecast for the fiscal year ending March 31, 2023, which was published together with the earnings announcement of April 27, 2022.
1. Revisions to consolidated financial results forecast
- Consolidated financial results forecast for the six months ending September 30, 2022 (April 1, 2022 - September 30, 2022)
Profit | Basic | ||||
Operating | Ordinary | attributable to | |||
Net sales | earnings per | ||||
profit | profit | owners of | |||
share | |||||
parent | |||||
Million yen | Million yen | Million yen | Million yen | Yen | |
Previous forecast (A) | 121,000 | 9,500 | 9,000 | 6,700 | 73.63 |
Revised forecast (B) | 123,000 | 10,000 | 12,000 | 9,000 | 98.89 |
Change (B-A) | 2,000 | 500 | 3,000 | 2,300 | － |
Change (%) | 1.7% | 5.3% | 33.3% | 34.3% | － |
(Ref.) Results for the six months | 112,025 | 9,223 | 8,946 | 6,785 | 74.60 |
ended September 30, 2021 | |||||
- Consolidated financial results forecast for the fiscal year ending March 31, 2023 (April 1, 2022 - March 31, 2023)
Profit | Basic | ||||
Operating | Ordinary | attributable to | |||
Net sales | earnings per | ||||
profit | profit | owners of | |||
share | |||||
parent | |||||
Million yen | Million yen | Million yen | Million yen | Yen | |
Previous forecast (A) | 245,000 | 20,000 | 19,000 | 14,350 | 157.71 |
Revised forecast (B) | － | － | － | － | － |
Change (B-A) | － | － | － | － | － |
Change (%) | － | － | － | － | － |
(Ref.) Results for the fiscal year | 225,079 | 18,049 | 18,594 | 14,325 | 157.46 |
ending March 31, 2022 | |||||
2. Reason for the revisions
As announced today, the Company achieved positive year-on-year growth both in sales and profit for the first quarter of the fiscal year ending March 31, 2023 (FY2022), owing to steady demand in the industrial market both in Japan and abroad and the ongoing depreciation of the Japanese yen. Ordinary profit and profit attributable to owners of parent, in particular, showed a significant increase, as the Company recorded foreign exchange gains (non-operating income) on the back of the yen's sharp depreciation as a result of the valuation of foreign-currency-denominated monetary claims and obligations at the end of the first quarter of FY2022. As steady demand and the yen's depreciation are expected to continue into the second quarter of FY2022, the Company has revised its consolidated financial results forecast for the six months ending September 30, 2022 as above.
However, the forecast for the full year has been withdrawn and undecided from our initial projection announced on April 27, 2022. This is because, now that prospects for the economic and market environments have changed significantly since the beginning of the current fiscal year, it has become necessary to revise the second-half plan by making a close examination of the overall business environment, from currency market conditions to industrial demand and production by customers, as well as trends in the supply chain. This makes it difficult to make a reasonable estimation at this time. The Company will announce its forecast once it has become possible to make the calculation.
Note: This press release contains forward-looking statements based on the best information available as of the date of this release. Accordingly, various factors may cause actual results, etc. to differ materially from those contained herein.
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