THK Company Limited
04 September 2003
Translation of report filed with the Tokyo Stock Exchange on September 3, 2003
THK Announces Revisions to Consolidated and Non-consolidated Earnings Projections
Tokyo, September 3, 2003 - THK Co., Ltd. (Akihiro Teramachi, President and
CEO; TSE: 6481) announced today that it has revised its earnings projections for
the first half of fiscal 2003 (April 1 through September 30, 2003), announced on
May 19, 2003. The revisions, which reflect recent changes in business
performance, are as follows.
THK has revised figures upward for both its consolidated and non-consolidated
earnings projections.
Estimates for net sales have been revised upwards reflecting improving corporate
profits and signs of a recovery in capital as well as robust sales to
THK's primary customers in the machine-tool, general-machinery and
electronics sectors.
THK has also revised its profit projections upward reflecting rising sales on
higher rates of operation at THK's plants as well as the success of
rigorous efforts to control costs.
1. Revision to Consolidated Earnings Projections for the first half of FY2003
(April 1 through September 30, 2003)
(Millions of yen;%)
Net Sales Operating Ordinary Net Income
Income Income
Previously announced projections 51,600 4,300 4,300 2,350
(A)
(Announced on May 19,2003)
Revised projections 55,500 6,500 6,500 3,200
(B)
Increase/(Decrease) 3,900 2,200 2,200 850
(B-A)
% Increase/(Decrease) 7.6 51.2 51.2 36.2
The first half year of FY 2002 45,308 1,754 1,508 253
2. Revision to Non-consolidated Earnings Projections for the first half of FY2003 (April 1 through September 30, 2003)
(Millions of yen;%)
Net Sales Operating Ordinary Net Income
Income Income
Previously announced projections 41,000 4,400 4,500 2,550
(A)
(Announced on May 19,2003)
Revised projections 44,500 7,000 7,100 4,000
(B)
Increase/(Decrease) 3,500 2,600 2,600 1,450
(B-A)
% Increase/(Decrease) 8.5 59.1 57.8 56.9
The first half year of FY 2002 35,724 2,716 2,796 1,522
THK plans to announce its earnings projections (consolidated and non-
consolidated) for the full year to March 2004 at the interim results briefing
scheduled for November 19, 2003.
Notice Regarding Forward Looking Statements
This release contains forward looking statements based on management's
assumptions, estimates, and projections at the time of release. The company
cautions readers that actual results may differ materially from those projected
or implied in forward-looking statements made by or on behalf of the Company due
to a variety of important factors, such as, but are not limited to the risks and
uncertainty associated with world wide economy, competitive activity, and
currency fluctuation.
Contact for Additional Information
Kotaro Yoshihara
Director/General Manager
Corporate Strategy Department
Phone: +81-3-5434-0300
Website: www.thk.co.jp
This information is provided by RNS
The company news service from the London Stock Exchange