Announcement on Financial Forecast

Tokyo Electron Ltd. (TEL) announced the Financial Forecast for the Fiscal Year Ending March 31, 2015 based on recent business trend as follows.

Consolidated financial forecast revision for the year ending March 31, 2015(April 1, 2014 - March 31, 2015)

  Net sales
(Millions of yen)
Operating income
(Millions of yen)
Ordinary income
(Millions of yen)
Net income
(Millions of yen)
Net income
per share(Yen)
Previous forecast (A) 598,200 73,100
Revised forecast (B) 609,000 87,000 91,500 66,000 368.24
Change(B-A) 10,800 13,900
Change ratio(%) 1.8 19.0
Results for the year ended
March 31, 2014
612,170 32,204 35,487 Δ19,408 Δ108.31

Reason for financial forecast revision
Regarding consolidated forecasts for the fiscal year ending March 2015 (FY3/15), full-year estimates for sales of 598.2 billion yen and operating income of 73.1 billion yen had been disclosed as information only because the date on which the business combination with Applied Materials, Inc. will be effected has not yet been determined. Now, FY3/15 consolidated forecasts comprising sales of 609 billion yen, operating income of 87 billion yen, ordinary income of 91.5 billion yen, and net income of 66 billion yen have been disclosed to reflect recent business trends and the change in the tentative effective date of the business combination to June 30, 2015 as detailed in the "Notice regarding the Change of the Effective Date of the Share Exchange" published on February 26, 2015.

Moreover, FY3/15 net income has been factored for an expected reduction of 11.4 billion yen in tax expenses as detailed in the " Announcement on Dissolution of and Debt Relief to the Subsidiary " published on March 26, 2015 and for a reversal in deferred tax assets scheduled to take effect as a result of changes in statutory tax rates under tax reform plan for 2015.

Note: The financial forecasts and estimates stated in this announcement are based on certain assumptions judged to be reasonable by the Company 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.