Update in Fiscal Year 2007 Financial Results from Original Forecast
Tokyo, May 22, 2008 – SANYO Electric Co., Ltd. (SANYO) has made the following update in the FY 2007 financial results from the original forecast (April 1, 2007 through March 31, 2008).
1. Consolidated Financial Results
|
Results |
Compared to previous forecast |
Compared to year ratio |
Previous forecast |
Last fiscal year results |
Net sales |
20,178 |
90.5% |
107.2% |
22,300 |
18,826 |
Operating income (loss) |
761 |
138.4% |
178.7% |
550 |
426 |
Income (loss) before income taxes and minority interest for continuing operations |
572 |
178.8% |
- |
320 |
(161) |
Net income (loss) |
287 |
143.5% |
- |
200 |
(454) |
1. Previous forecast announced on February 5, 2008
2. Based on the U.S. accounting standards, the financial information in the FY 2006 has been partly reformed and reported for the businesses that became discontinued operations in FY 2007.
2. Reasons for Update in Consolidated Financial Results from Original Forecasts
SANYO has transferred its Mobile Phone business to Kyocera Corporation as of April 1, 2008 through an absorption-type demerger. Based on U.S. accounting standards, gains and losses reported for discontinued operations have been deducted, leaving the sales totals for ongoing businesses 212.2 billion yen lower than originally forecast.
In terms of profit, in addition to the deduction of the above discontinued operations losses (net losses for discontinued operations totaled 10.4 billion yen), due to the large improvement in incomes and expenditures forecast for digital cameras and rechargeable batteries, the forecasts have been raised from the previous forecasts for operating profit, income (loss) before income taxes and minority interests for continuing operations and net income.
3. Non-consolidated Financial Results
(Unit: 100 million yen)
|
Results |
Compared to previous forecast |
Compared to year ratio |
Previous forecast |
Last fiscal year results |
Net sales |
14,179 |
99.2% |
116.6% |
14,300 |
12,159 |
Operating income (loss) |
158 |
105.9% |
- |
150 |
(163) |
Ordinary Income (loss) |
29 |
195.6% |
- |
15 |
(212) |
Net income (loss) |
189 |
126.0% |
- |
150 |
(571) |
Previous forecast announced on November 27, 2007
4. Reasons for Update in Non-consolidated Financial Results from Original Forecast
The forecasts for sales and operating profit have been left largely unchanged. Ordinary profits increased over the previous forecast by 1.4 billion yen due to the improvement of income and expenditures outside of sales such as received interest and dividends income. Additionally, the previously forecast corporate income taxes forecast for 3 billion yen was reduced to 1 billion yen, leaving a higher forecast for the term net income.
For Press Contact: (English Only):
- Global PR Team, Public Affairs Unit
Corporate Communications Headquarters
SANYO Electric Co., Ltd.
Tel: +81-3-6414-8615 Fax: +81-3-6414-8720
E-mail: i_press@sanyo.com
