Statement re revision of forecast

 

TIDM85GQ 
 
RNS Number : 5803Q 
Nippon Sheet Glass Company Limited 
05 August 2010 
 

 
                    NSG Group announces Revision of Forecast 
 
NSG Group, (hereinafter "the Group") announces a revision to its previous 
forecast for the first half of the financial year to 31 March 2011, from 1 April 
2010 to 30 September 2010, and also for the full year to 31 March 2011 (FY2011), 
from 1 April 2010 to 31 March 2011, as set out below. 
I.     Revised forecast (consolidated) 
 
Half year forecast (1 April 2010 to 30 September 2010) 
              (Unit: JPY million, %) 
+--------------------+----------+-----------+----------+----------+------------+ 
|                    |   Net    |Operating  |Ordinary  | Net      | Net        | 
|                    |  Sales   |  income   |  income  | Income   | income     | 
|                    |          |           |          |          | per        | 
|                    |          |           |          |          | share      | 
+--------------------+----------+-----------+----------+----------+------------+ 
| Previous forecast  | 300,000  |  4,000    |  1,000   | (3,000)  | JPY(6.56)  | 
| (A)                |          |           |          |          |            | 
| published on 14    |          |           |          |          |            | 
| May 2010           |          |           |          |          |            | 
+--------------------+----------+-----------+----------+----------+------------+ 
| Revised forecast   | 300,000  |  9,000    |  6,000   |  1,000   | JPY(0.58)  | 
| (B)                |          |           |          |          |            | 
+--------------------+----------+-----------+----------+----------+------------+ 
| Change(B-A)        |    -     |  5,000    |  5,000   |  4,000   |     -      | 
+--------------------+----------+-----------+----------+----------+------------+ 
| Change (%)         |    -     |   125%    |  500%    |    -     |     -      | 
+--------------------+----------+-----------+----------+----------+------------+ 
| Previous year Half | 292,989  | (16,222)  |(24,743)  |(26,248)  |JPY(41.00)  | 
| year result        |          |           |          |          |            | 
| (FY2010)           |          |           |          |          |            | 
+--------------------+----------+-----------+----------+----------+------------+ 
 
Full year forecast (1 April 2010 to 30 March 2011)               (Unit: JPY 
million, %) 
+--------------------+----------+-----------+----------+----------+------------+ 
|                    |   Net    |Operating  |Ordinary  | Net      | Net        | 
|                    |  Sales   |  income   |  income  | Income   | income     | 
|                    |          |           |          |          | per        | 
|                    |          |           |          |          | share      | 
+--------------------+----------+-----------+----------+----------+------------+ 
| Previous forecast  | 600,000  |  10,000   |  4,000   | (4,000)  |JPY(10.13)  | 
| (A)                |          |           |          |          |            | 
| published on 14    |          |           |          |          |            | 
| May 2010           |          |           |          |          |            | 
+--------------------+----------+-----------+----------+----------+------------+ 
| Revised forecast   | 600,000  |  15,000   |  10,000  |  1,000   | JPY(2.66)  | 
| (B)                |          |           |          |          |            | 
+--------------------+----------+-----------+----------+----------+------------+ 
| Change(B-A)        |    -     |  5,000    |  6,000   |  5,000   |     -      | 
+--------------------+----------+-----------+----------+----------+------------+ 
| Change (%)         |    -     |    50%    |  150%    |    -     |     -      | 
+--------------------+----------+-----------+----------+----------+------------+ 
| Previous year Full | 588,394  | (17,183)  |(28,552)  |(41.313)  |JPY(65.61)  | 
| year result        |          |           |          |          |            | 
| (FY2010)           |          |           |          |          |            | 
+--------------------+----------+-----------+----------+----------+------------+ 
 
 
 
II.    Reason for the revision 
The revised forecast for the first half of the financial year primarily reflects 
stronger demand for the Group's products.    Also included within forecast 
operating income is the income statement impact of insurance claim settlement 
following the February 2010 earthquake in Chile, expected to be received during 
the second quarter of the year, of approximately JPY 3,800 million, being 
approximately JPY 1,000 million higher than originally predicted. 
The revised forecast for the full year reflects the improvements in the forecast 
for the first half of the year together with an expectation of continued 
improvements in joint venture and associates' profits, credited to non-operating 
items.  The Group has not amended its expectations of operating income in the 
second half of the year as it believes these are still appropriate. For both the 
half year and full year forecasts, net sales remain unchanged due to the 
translational effect of a strong Japanese yen. 
 
END 
 
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