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MABUCHI MOTOR CO., LTD has revised the previous forecast (announced on May 12, 2006.) of Consolidated performance and cash dividends for the six mouths ended June 30, 2006 and the year ending December 31, 2006 as follows.
Revision to the Semi-annual Consolidated Performance
for the Six Months Ended June 30, 2006
(Millions of yen)
|
Net Sales |
Ordinary Income |
Net Income |
| Previous Forecast (A) |
47,500 |
5,500 |
3,600 |
| Revised Forecast (B) |
49,100 |
7,700 |
5,300 |
| Change (B-A) |
1,600 |
2,200 |
1,700 |
| Percentage Change(%) |
3.4 |
40.0 |
47.2 |
| Reference: Actual results for the corresponding period in 2005 |
44,406 |
6,783 |
4,156 |
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Revision to the Consolidated Performance for the Year Ending December 31, 2006
(Millions of Yen)
|
Net sales |
Ordinary Income |
Net Income |
| Previous Forecast (A) |
95,000 |
10,000 |
6,500 |
| Revised Forecast (B) |
97,500 |
12,800 |
8,500 |
| Change (B-A) |
2,500 |
2,800 |
2,000 |
| Percentage Change(%) |
2.6 |
28.0 |
30.8 |
| Reference: Actual results for Previous Year |
93,927 |
13,250 |
7,350 |
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(Reference) Projected annual net income per share : 214.86 yen
Revision of the Forecast for Cash Dividends for the Year Ending December 31, 2006
(in Yen)
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Semi-annual |
Year-end |
Annual |
| Previous Forecast |
46.00 |
47.00 |
93.00 |
| Revised Forecast |
51.00 |
52.00 |
103.00 |
| Reference: Results for Previous Year |
42.00 |
50.00 |
92.00 |
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The reasons to Revise the Consolidated Results
(1) The semi-annual consolidated results for the six months ended June 30, 2006
We expect that the semi-annual sales will increase 3.4% compared with our previous forecast due to (a) the consistent expansion of the Automotive Products Market which is an important pillar of our growth strategy, (b) the healthy sales in the Information & Communication Equipment Market and the Home Appliances, Power Tools Market and (c) more than expected expansion of motor sale for DVD players in the Audio & Visual Equipment Market which is in the contractive tendency due to the demand decrease for CD players. And also, the depreciation of the yen against the dollar contributes the increase of the sales figures.
The semi-annual consolidated ordinary income is expected to be increased 40.0% from the previous forecast due to (a) the improvement of cost percentage by reducing the fixed cost charges offsetting the copper price soaring beyond our assumption, (b) the decrease of selling and general administrative expenses and (c) the increase of interest and dividends income.
The average exchange rate for the first half of 2006 is 115.72 yen per dollar (previous forecast: 110.00 yen per dollar) and the forecast for the second half of 2006 is 110.00 yen per dollar.
(2) The consolidated results for the fiscal year ending December 31, 2006
We forecast the net sales would increase 2.6% compared with our previous forecast due to the consistent increase of motor sales in the Automotive Products Market and the Home Appliances, Power Tools Market in spite of the sagging market condition in the Audio & Visual Equipment Market.
We expect ordinary income would increase 28.0% compared with our previous forecast due to (a) a slowdown of the tendency of motor price cut, (b) improvement of cost percentage by product mix change and (c) a decrease of the selling and general administrative expenses though significant increase in copper price and direct labor cost are expected in the second half of 2006.
We prospect no exchange gain or loss in the forecast for the second half of 2006.
The reasons to Revise Cash Dividends for the Year ending December 31, 2006.
It is 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 60 yen per share, which is the long-lasting stable dividend. We hereby revise the cash dividends forecast for 2006 resulting from the revision of the consolidated net income forecast as explained in the above.
Inquiries: Shunroku Nishimura, Director, Administrative Headquarters (Tel: +81-47-710-1127)
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