Announcement on Financial Forecast and Dividends Forecast Revision
The financial forecast and dividends forecast announced on April 27, 2012 have been revised based on recent business trend as follows.
1. Financial Forecast Revision
Consolidated financial forecast revision for the first six months of the fiscal year ending March 31, 2013 (April 1, 2012 - September 30, 2012)
| Net sales (Millions of yen) |
Operating income (Millions of yen) |
Net income (Millions of yen) |
Net income per share(Yen) |
|
| Previous forecast (A) | 275,000 | 12,500 | 7,400 | 41.30 |
| Revised forecast (B) | 268,000 | 9,500 | 6,000 | 33.49 |
| Change (B-A) | △7,000 | △3,000 | △1,400 | － |
| Change ratio (%) | △2.5 | △24.0 | △18.9 | － |
| Results for the six months ended September 30, 2011 | 326,350 | 36,859 | 26,657 | 148.85 |
Consolidated financial forecast revision for the year ending March 31, 2013 (April 1, 2012 - March 31, 2013)
| Net sales (Millions of yen) |
Operating income (Millions of yen) |
Net income (Millions of yen) |
Net income per share(Yen) |
|
| Previous forecast (A) | 590,000 | 47,000 | 30,000 | 167.44 |
| Revised forecast (B) | 530,000 | 20,000 | 14,000 | 78.14 |
| Change (B-A) | △60,000 | △27,000 | △16,000 | － |
| Change ratio (%) | △10.2 | △57.4 | △53.3 | － |
| Results for the year ended March 31, 2012 | 633,091 | 60,443 | 36,725 | 205.04 |
Reason for financial forecast revision
With the slowing global economy resulting in slowing semiconductor demand in turn, semiconductor device makers are limiting capital investment. As a result, sales in the semiconductor production equipment segment, our main business, are expected to fall short of the initial prediction, and we have revised our prior consolidated forecasts for the first half and full fiscal year that we released on April 27, 2012.
Note:The financial forecasts and estimates stated in this announcement are based on certain assumptions judged to be reasonable by the TEL Group in light of information currently available concerning economic conditions in Japan and overseas, fluctuations in foreign exchange rates, and other factors that may have an impact on performance. The company does not promise that the forecasts or estimates will be accurate.
They are therefore susceptible to the impact of many uncertainties, including market conditions, competition, the launching of new products (and their success or failure), and global conditions in the semiconductor related industry. Consequently, actual sales and profits may differ substantially from the projections stated in this announcement.
2. Dividends Forecast Revision
| Dividend per share | |||||
| (Yen) | 1Q-end | 2Q-end | 3Q-end | Year-end | Total |
| Previous forecast (April 27, 2012) |
－ | 25.00 | － | 55.00 | 80.00 |
| Revised forecast | － | 25.00 | － | 26.00 | 51.00 |
| Results for the year ending March 31, 2013 | － | － | － | － | － |
| Results for the year ended March 31, 2012 | － | 53.00 | － | 27.00 | 80.00 |
The interim dividend for the second quarter ending September 2012 is made up of ordinary dividend 15 yen and commemorative dividend 10 yen.
The year-end dividend for the year ending March 2013 is made up of ordinary dividend 16 yen and commemorative dividend 10 yen.
Reason for dividend forecast revision
The dividend policy of the Company is to link dividend payments to business performance and earnings on an ongoing basis. Its basic policy for returning profits to shareholders is to maintain a payout ratio of around 35% based on consolidated net income. In conjunction with the revision of our consolidated forecasts, we have also revised our forecast for the dividend per share at the fiscal year-end. However, no changes have been made to the dividend per share expected to be paid at the end of the second quarter.
As indicated in our fiscal 2012 results brief ("Consolidated Financial Review for the Year Ended March 31, 2012") released on April 27, 2012, our fiscal 2013 will mark the fiftieth anniversary of our establishment, and in gratitude for the support of our shareholders, we plan to pay commemorative dividends totaling 20 yen (10 yen at the end of the second quarter and 10 yen at the fiscal year-end) in addition to our ordinary dividend payments.
