July 13, 2023 | |
To Whom It May Concern, | |
Company Name | Toyo Denki Seizo K.K. |
Representative | Akira Watanabe, |
President, Representative Director | |
(Stock Code: 6505 TSE Standard) | |
Inquiries | Jun Nukina, Operating Officer, General |
Manager, Management Planning Division | |
Tel.: +81-3-5202-8122 |
Notice on Difference Between Consolidated Performance Forecast and Results
for the Fiscal Year Ended May 31, 2023
Toyo Denki Seizo K.K. (hereinafter "Toyo Denki") hereby announces there is a difference between the consolidated performance forecast for the fiscal year ended May 31, 2023 disclosed on July 14, 2022, and the results for the same period disclosed today.
1. Difference between consolidated performance forecast and results for the fiscal year ended May 31, 2023 (June 1, 2022, to May 31, 2023)
Profit | ||||||||
Net sales | Operating | Ordinary profit | attributable to | Basic earnings | ||||
profit | owners of | per share | ||||||
parent | ||||||||
Previous forecast (A) | Millions of yen | Millions of yen | Millions of yen | Millions of yen | Yen | |||
34,000 | 450 | 700 | 800 | 89.48 | ||||
Results (B) | 31,025 | 517 | 987 | 824 | 91.85 | |||
Change (B − A) | (2,974) | 67 | 287 | 24 | ||||
Change (%) | (8.7) | 15.0 | 41.0 | 3.1 | ||||
(Reference) Results for | ||||||||
the previous year | Millions of yen | Millions of yen | Millions of yen | Millions of yen | Yen | |||
(Fiscal year ended May | 30,158 | 171 | 766 | (930) | (104.02) | |||
31, | 2022) |
2. Reason for the difference
Sales fell short of the previous forecast due to the continued impact on the Company's production processes caused by the prolonged difficulty in procuring parts and materials. Operating profit exceeded the previous forecast thanks to efforts to improve profitability. Ordinary profit was higher than the previous forecast, mainly due to the steady performance of equity-method affiliates in China and the recording of foreign exchange gains. Profit attributable to owners of parent was largely in line with the previous forecast due to the recording of business structural reform expenses as an extraordinary loss, despite gains on sales of investment securities and gains on sales of non-current assets.