Earnings Projection Revision
April 09 2003 - 4:41AM
UK Regulatory
RNS Number:8064J
Mitsubishi Corporation
09 April 2003
Translation of report filed with the Tokyo Stock Exchange on April 9, 2003
Notice Regarding Write Off of Marketable Securities and
Revision to Consolidated Earnings Projections
Mitsubishi Corporation wishes to serve notice that it plans to recognize a loss
on the write off of marketable securities and to accordingly revise its
consolidated earnings forecasts for the fiscal year ended March 31, 2003, as
detailed below. This revision was filed with the Tokyo Stock Exchange pursuant
to its timely disclosure rules.
1. Write Off of Marketable Securities (Available for Sale)
Mitsubishi Corporation plans to recognize a loss of approximately 30 billion yen
on the write off of marketable securities (available for sale) as a result of a
fall in stock prices.
2. Revision of Earnings Projections for the Fiscal Year Ended March 31, 2003
Mitsubishi Corporation forecasts that operating income and equity in earnings of
affiliated companies will improve significantly year on year, as originally
projected. However, the company will revise its consolidated earnings forecasts
for the fiscal year ended March 31, 2003 (April 1, 2002 - March 31, 2003),
which were originally announced on November 15, 2002, due to a loss on
unlisted securities as well as the above mentioned loss on marketable
securities.
(Billions of yen)
Consolidated (US GAAP)
Net Income
Previous forecast (A) 85.0
Current estimate (B) Approx. 62.0
Change (B-A) - 23.0
Change (%) - 27.1%
(Reference) Results for the previous fiscal year 60.2
(ended March 31, 2002)
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For further information contact: Mitsubishi Corporation
Investor Relations Office
Phone 81-3-3210-8580
Fax 81-3-3210-8583
e-mail ml.ir@mitsubishicorp.com
This information is provided by RNS
The company news service from the London Stock Exchange
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