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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Melia Hotels International S A | TG:MEL | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.035 | -0.48% | 7.22 | 7.19 | 7.245 | 7.26 | 7.26 | 7.26 | 14 | 22:50:06 |
RNS Number:0015Q Mitsubishi Electric Corporation 22 September 2003 Investor Relations Inquiries: Media Contact: Yasumitsu Kugenuma Katsuyuki Hashimoto Corporate Finance Department Public Relations Department Tel: +81-3-3218-2391 Tel:+81-3-3218-2346 Yasumitsu.Kugenuma@hq.melco.co.jp katsuyuki.hashimoto@hq.melco.co.jp MITSUBISHI ELECTRIC ANNOUNCES REVISED SALES AND EARNINGS FORECAST FOR FISCAL 2004 (APRIL 1, 2003 - MARCH 31, 2004) TOKYO, September 22, 2003 Mitsubishi Electric Corporation today revised its fiscal 2004 business performance forecasts for the first half and the full-year periods. 1. Forecasts for fiscal 2004 consolidated results, made upon announcement of fiscal 2003 results in April 2003, have been revised as follows: (1) Interim Period (April 2003 - September 2003) (Unit: 100 million yen) Net Sales Income Before Income Taxes Net Income Revised Forecast (A) 15,500 150 20 Original Forecast (B) 15,000 50 0 Change (A-B) 500 100 20 Fiscal 2003 Interim Results 16,389 117 67 (2) Full-Year Period (April 2003 - March 2004) (Unit: 100 million yen) Net Sales Income Before Income Taxes Net Income (Loss) Revised Forecast (A) 33,000 200 120 Original Forecast (B) 32,500 0 50 Change (A-B) 500 200 70 Fiscal 2003 Results 36,390 24 (18) 2. Forecasts for fiscal 2004 non-consolidated results, made upon announcement of fiscal 2003 results in April 2003, have been revised as follows: (1) Interim Period (April 2003 - September 2003) (Unit- 100 million yen) Net Sales Ordinary Profit Net Income Revised Forecast (A) 9,000 210 170 Original Forecast (B) 8,500 50 50 Change (A-B) 500 160 120 Fiscal 2003 Interim Results 10,450 90 91 (2) Full-Year Period (April 2003 - March 2004) (Unit: 100 million yen) Net Sales Ordinary Profit Net Income (Loss) Revised Forecast (A) 20,500 350 290 Original Forecast (B) 20,000 250 200 Change (A-B) 500 100 90 Fiscal 2003 Results 23,192 264 (121) 3. Reasons for Forecast Revisions Due to the unseasonably cool summer in Japan, Mitsubishi Electric expects air conditioners and other home appliances to show decreased sales. However, backed by increasing private-sector capital investment in Asia and Japan, sales in industrial automation systems and information and communications systems, both on a consolidated and non-consolidated basis, are expected to outgrow original forecasts. These factors have led Mitsubishi Electric to revise its business performance forecasts, both on a consolidated and non-consolidated basis. 4. Dividend Policy for Fiscal 2004 Regarding the dividend, the company suspends payment of an interim dividend. The company plans to implement a dividend payment at the end of the fiscal year after carefully assessing business performance over the full-year. (As a reference, the Fiscal 2003 interim dividend was nil and the year-end was 3 yen.) About Mitsubishi Electric With over 80 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (TSE: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. The company has operations in 35 countries and recorded consolidated group sales of 3,639 billion yen (US$30.3 billion* ) in the year ended March 31, 2003. For more information visit http://global.mitsubishielectric.com *At an exchange rate of 120 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market, on March 31,2003. Cautionary Statement The expectation of operating results herein and any associated statement to be made with respect to Company's current plans, estimates, strategies and beliefs and any other statements that are not historical facts are forward-looking statements. Words such as "expects", "anticipates", "plans", "believes", "scheduled", "estimated", "targeted" along with any variations of these words and similar expressions are intended to identify forward-looking statements which include but are not limited to projections of revenues, earnings, performance and production. While the statements herein are based on certain assumptions and premises that trusts and considers to be reasonable under the circumstances to the date of announcement, you are requested to kindly take note that actual operating results are subject to change due to any of the factors as contemplated hereunder and/or any additional factor unforeseeable as of the date of this announcement. Such factors materially affecting the expectations expressed herein shall include but are not limited to the following: (1) Any change in operating circumstances in any of the markets, in which the Company conducts its business operation inter alia Japan, the USA and Europe: such change shall include but not limited to changes in economic situation, political regime, legal system and legislation, relevant laws and regulations, administrative policies and practices by any competent authorities, taxation in any of such markets. (2) Foreign exchange fluctuations, in particular, the rate of Japanese yen against US Dollar. (3) Relative disproportion between demand and supply of any products that may affect price and volume, which could be highly intrusive in such fields like information, telecommunication, electronic devices and home appliances, without limitation thereto. (4) Shortage of any devices, components and/or parts necessary for manufacturing operation and difficulties in material procurement arising out of such shortage, which could even lead to substantial disconformity with the operating results as expected herein. Also this factor could be highly intrusive in such fields as information, telecommunication, electronic devices and home appliances, without limitation thereto. (5) Any change in technical and technological trends that may be relevant to businesses of the Company, including but not limited to IT-based or IT-related fields. (6) Any patent and its licensing that may be granted from time to time and may affect businesses of the Company. (7) Any development of products incorporating new technological innovation and the time of their introduction in the marketplace. (8) Any business alliances of any nature whatsoever, including but not limited to joint ventures, business transfers, mergers, acquisitions, capital contributions, technical licensing or co-development. (9) Any change in fund raising or procurement, inter alia in the Japanese financial market. (10) Any fluctuation in stock quotations at any relevant markets including securities exchanges and over-the counter stock markets, inter alia in Japan. This information is provided by RNS The company news service from the London Stock Exchange END MSCGLGDCUGDGGXD
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