Subsidiary's 1Q Results
August 06 2003 - 8:14AM
UK Regulatory
RNS Number:3897O
Toshiba Corporation
06 August 2003
August 5, 2003
Notice of Toshiba Corporation's Subsidiary's
Consolidated Results for the First Quarter and Modified Forecast for FY2003
Toshiba Corporation
Tadashi Okamura, President & CEO
Contact: Hideo Kitamura, General Manager
Corporate Communications Office
Toshiba Plant Kensetsu Co., Ltd
URL http://www.tpk.co.jp
Tadahisa Ogita, President & CEO
Contact: Kazuo Tobe, General Manager,
Corporate Communications
This is to announce the first quarter results at Toshiba Plant Kensetsu Co.,
Toshiba Corporation's subsidiary, and its modified forecast for the FY2003.
1. Outline of the Results for the First Quarter of Fiscal Year Ending in March
2004
Whether or not accounting policy related to the sales recognition has changed:
none
2. Outline of the First Quarter of FY2003 (April 1, 2003 - March 31,
2004)
(1)Sales
Million yen increase/decrease
First Quarter of FY2003 9,691 -
(F.Y.R) FY2002 ending 97,556
on March 31, 2003
Note a. Figures of less than a million yen are rounded down
b. Publication of quarterly results was introduced in the first quarter
of FY2003, and so no sales figures or ratio of increase or decrease is available
for the same period last fiscal year.
Supplementary note for the sales
Unit: Million yen
Power Plant Nuclear Power Plant Industrial Others Total
Other than Nuclear and Other
Power Facilities
3,471 4,383 1,809 27 9,691
First quarter of FY2003 sales amounted to 9,681 million yen. Some projects face
rescheduling of such activities as construction of plants overseas and periodic
checks and maintenance work for nuclear power plants in Japan.
(2) Matters to give material affects to financial and managerial results at the
group companies in the first quarter of the FY2003
No material matters occurred.
3. Forecast for the first half of FY2003 (from April 1, 2003 to March 31, 2004)
(1) Modified forecast for the first half of FY2003
Unit: Million yen, %
Sales Recurring Profit Net Income EPS
Previous Forecast(A) 35,500 -1,300 -900 -13.26
(April 28, 2003)
Modified Forecast (B) 31,500 -1,200 -900 -13.26
Balance(B)-(A) -4,000 100 0 -
Increase/Decrease -11.3 - - -
Ratio
Actual Result for the 34,971 -1,346 -935 -13.77
1st Half of FY2002
(H of FY2002)
(2) Modified forecast for the first half of FY2003, Non-consolidated
Unit: Million yen, %
Sales Recurring Profit Net Income EPS
Previous Forecast(A) 35,000 -1,400 -900 -13.26
(April 28, 2003)
Modified Forecast (B) 30,500 -1,300 -900 -13.26
Balance(B)-(A) -4,500 100 0 -
Increase/Decrease -12.9 - - -
Ratio
Actual Result for the 33.756 -1481 -1,007 -14.83
1st Half of FY2002
(1H of FY2002)
(3) Details of modified forecast for the 1H of the FY2003
In the modified forecast for the fiscal year ending March 2004, consolidated
sales are expected to decrease by 4 billion yen and recurring profit to improve
by 0.1 billion yen against the forecast announced in April this year. In
non-consolidated results, sales will decrease by 4.5 billion yen, though
estimates show recurring profit will increase by 0.1 billion yen. Net income,
both on a consolidated and non-consolidated bases, will be minus 0.9 billion
yen, as announced previously.
Factors leading to the decrease in projects in 1H sales reflect delays in
construction of power plants in overseas markets and decreased projects as a
cause of deterioration in capital expenditures by both the public and private
sectors.
4. Forecast for FY2003 (April 1, 2003 - March 31, 2004)
(1) Modified forecast of results for FY2003
Unit: Million yen, %
Sales Recurring Profit Net Income EPS
Previous Forecast(A) 92,500 900 300 4.42
(April 28, 2003)
Modified Forecast (B) 104,000 2,600 300 3.98
Balance(B)-(A) 11,500 1,700 0 -
Increase/Decrease Ratio 12.4 188.9 0.0 -
Actual Result for the 97,556 1,388 399 5.88
1st Half of FY2002
(1H of FY2002)
(2)Modified forecast of non-consolidated results for FY2003
Unit: Million yen, %
Sales Recurring Profit Net Income EPS
Previous Forecast(A) 91,000 800 300 4.42
(April 28, 2003)
Modified Forecast (B) 102,000 2,400 300 3.98
Balance(B)-(A) 11,000 1,600 -
0
Increase/Decrease Ratio 12.1 200.0 0.0 -
Actual Result for the 94,086 1,418 269 3.97
1st Half of FY2002
(1H of FY2002)
(3) Details of the modified results for FY2003
In the modified forecast for the fiscal year ending March 2004, consolidated
sales are expected to increase by 11.5 billion yen for sales and recurring
profit by 1.7 billion yen. Non-consolidated results are expected to improve by
11 billion yen for sales, and 1.6 billion yen for recurring profit. Net income
will remain unchanged at 0.3 billion yen.
Sales for the entire fiscal year will be affected by the rescheduled
construction of power plants in overseas markets and by the deterioration in
public and private sector expenditure. However, total sales will increase due to
the merger with Toshiba Engineering Corporation scheduled for January 1, 2004.
Net income of 0.3 billion yen is forecast, due to an extraordinary loss of 1.4
billion yen, mainly reflecting the extra costs for the merger and the execution
of an early retirement programs.
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