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THK Co Ltd (47WH)


Monday 19 May, 2003

THK Co Ltd

Financial Forecast Revision

THK Company Limited
19 May 2003

                                                                            May 15, 2003

                                               Company Name:     THK CO., LTD.
                                               Code number:      6481
                                               Contact:          Koutaro Yoshihara,
                                                                 Corporate Strategy Department
                                               Phone:            81-3-5434-0300

                Notice Regarding Revision to Financial Forecasts

This is to notify that THK Co., Ltd. will revise the financial forecasts for FY2002 (April 1, 2002March 31,
2003), which were presented at the interim financial statement presentation held on November 18, 2002. The
decision was made based on recent shifts in business performance. Details of the revisions are as follows:
1. Revision to Non-Consolidated Financial Forecasts for FY 2002 (April 1, 2002-March 31, 2003)
                                                                                         (Units: Million Yen, %)
                                                   Total Sales    Operating         Ordinary     Net Income
                                                                     Inome            Income
             Previous forecast(a)                   74,000            6,500            6,400       3,500
          (Presented Nov. 18, 2002)
             Revised forecast(b)                     75,92            6,757            7,291       4,277
              Difference (b)-(a)                     1,921              257              891         777
                 % Difference                          2.6              4.0             13.9        22.2
       Financial Performance in FY2001              67,344            2,584            2,940         387

2. Revision to Consolidated Financial Forecasts for FY2002 (April 1, 2002-March 31, 2003)
                                                                                         (Units: Million Yen, %)
                                                  Total Sales     Operating         Ordinary     Net Income
                                                                     Inome            Income
             Previous forecast(a)                   93,500            4,700            4,200       1,000
          (Presented Nov. 18, 2002)
             Revised forecast(b)                    94,599            4,893            4,827       1,891
              Difference (b)-(a)                     1,099              193              627         891
                 % Difference                          1.2              4.1             14.9         89.
       Financial Performance in FY2001              89,340            2,176            2,557         820

3. Reasons for the Revision
Total sales were revised upwards to reflect an increase in demand from various channels. First of all, demand
for THK products from industrial robot and electronic device makers was high. In addition, inventory adjustment
progressed at user facilities and as a result demand increased. Finally, demand from makers of flat panel
display manufacturing devices (primarily LCD) in Asia also increased.
The increased level of total sales improved production levels. Subsequently, operating income and ordinary
income both increased. Foreign exchange gains also contributed to the upward revision.
Net income for the period was also revised upwards from previous projections despite the fact that the company
booked an extraordinary loss from securities revaluation. The main reason for this rise was the reduced
corporate tax associated with the adjustment on taxes paid for selling off a part of a related companyfs shares.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                               

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