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MABUCHI MOTOR CO., LTD has revised the initial forecast (announced on February 18, 2005.) of Consolidated performance and cash dividends for the six mouths ended June 30, 2005 and the Year Ending December 31, 2005 as follows.
Revision to the Semi-annual Consolidated Performance
for the Six Months Ended June 30, 2005
(Millions of yen)
|
Net Sales |
Operating Income |
Net Income |
| Previous Forecast (A) |
46,000 |
6,400 |
4,900 |
| Revised Forecast (B) |
44,400 |
4,650 |
4,150 |
| Change (B-A) |
-1,600 |
-1,750 |
-750 |
| Percentage Change(%) |
-3.5 |
-27.3 |
-15.3 |
| Reference: Actual results for the corresponding period |
49,525 |
10,413 |
8,422 |
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Revision to the Consolidated Performance for the Year Ending December 31, 2005
(Millions of Yen)
|
Net sales |
Operating Income |
Net Income |
| Previous Forecast (A) |
96,000 |
13,000 |
10,400 |
| Revised Forecast (B) |
93,000 |
8,700 |
7,100 |
| Change (B-A) |
-3,000 |
-4,300 |
-3,300 |
| Percentage Change(%) |
-3.1 |
-33.1 |
-31.7 |
| Reference: Actual results for Previous Year |
99,347 |
17,312 |
13,279 |
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Revision of the Forecast for Cash Dividends for the Year Ending December 31, 2005
(in Yen)
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Semi-annual |
Year-end |
Annual |
| Previous Forecast |
50.00 |
51.00 |
101.00 |
| Revised Forecast |
42.00 |
43.00 |
85.00 |
| Reference: Results for Previous Year |
64.00 |
51.00 |
115.00 |
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The Reasons to Revise the Consolidated Results
(1) The semi-annual consolidated results for the six months ended June 30, 2005
The semi-annual consolidated net income is expected to be reduced 15.3% from the previously announced forecast due to the following reasons;
- The recovery of sales in the second quarter was not enough in all market segments. Both volumes and sales amounts fell below 4% and 3.5% respectively from the previously announced forecast for the first half of 2005.
- The manufacturing cost increased about 3% due to increases of the cost per unit of output caused by the lower-than-expected production volumes by a main manufacturing subsidiary from the original plan and the higher-than-expected increase of the start-up costs of new products.
(2) The consolidated results for the fiscal year ending December 31, 2005
The consolidated results for 2005 is expected to be reduced 31.7% from the previously announced forecast due to the following reasons;
- The A/V market segment of the second half remains soft. Both volume and sales amount is expected to fall below 6.4% and 3.2%, respectively, from the previously announced forecast.
- The manufacturing cost is expected to be increased about 2.5% due to increases of the cost per unit of output caused by the lower-than-expected production volumes from the previously announced forecast and the start-up cost of new products is expected to be increased continuously.
- Selling and general administrative expenses is expected to exceed about 5% from the previously announced forecast due to increases of the facility administration costs for the new head office, product development related costs and costs for environmental responsiveness of products.
- As announced separately today, we have decide to wind up our subsidiary in Malaysia. The extraordinary loss of approximately 1 billion yen is expected to be incurred by the winding-up in the second half.
- Because the performance of our overseas production subsidiaries is expected to fall below the original forecast. The increase of the effective corporate tax rate on a consolidated basis is expected to increase from the previously announced forecast.
The Reasons to Revise Cash Dividends for the Year Ending December 31, 2005.
It has been our dividend policy to pay special dividend per share calculated by dividing 20% of consolidated net income by the applicable number of outstanding shares in addition to the ordinary dividend of 50 yen per share, which is the long-lasting stable dividend. Thus we hereby revise the cash dividends forecast for 2005 resulting from the revision of the consolidated net income forecast as explained above.
Inquiries: Shunroku Nishimura, Director, Accounting and Finance (Tel: +81-47-710-1127)
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