17NX Mit.corp. 24

TIDM17NX

RNS Number : 6991E

Mitsubishi Corporation

31 October 2022

Translation of report filed with the Tokyo Stock Exchange on October 31, 2022

Notice Regarding Revision of Forecast for Non-Consolidated Results for

Fiscal Year Ending March 31, 2023 for Nihon Shokuhin Kako Co., Ltd.

Mitsubishi Corporation (MC) today announced that its consolidated subsidiary Nihon Shokuhin Kako Co., Ltd. (Nihon Shokuhin) has provided information regarding the revision of its forecast for non-consolidated results for the fiscal year ending March 31, 2023.

The current situation is expected to have a negligible impact on MC's consolidated performance.

Please see the attached documents from Nihon Shokuhin for details.

Translation of report filed with the Tokyo Stock Exchange on October 31, 2022

Notice Regarding Revised Forecast for Non-Consolidated Results

for Fiscal Year Ending March 31, 2023

This notice serves to provide information on a revision of Nihon Shokuhin Kako Co., Ltd. (Nihon Shokuhin)'s non-consolidated results forecast for the fiscal year ending March 31, 2023.

Details are as follows.

1. Differences between Nihon Shokuhin's forecast for the fiscal year ending March 31, 2023 that was announced on April 28, 2022 and its revised forecast that was announced today

(for period beginning on April 1, 2022 and ending on March 31, 2023)

 
                      Net Sales   Operating   Ordinary    Net Income   Net Income 
                       (million    Income      Income      (million     Per Share 
                       yen)        (million    (million    yen)         (yen) 
                                   yen)        yen) 
 Previous forecast 
  (A)                    58,500       1,000       1,200          900       182.98 
                     ----------  ----------  ----------  -----------  ----------- 
 Revised forecast 
  (B)                    63,000       3,000       3,200        2,500       508.27 
                     ----------  ----------  ----------  -----------  ----------- 
 Difference 
  (B-A)                   4,500       2,000       2,000        1,600            - 
                     ----------  ----------  ----------  -----------  ----------- 
 Difference 
  (%)                       7.7       200.0       166.7        177.8            - 
                     ----------  ----------  ----------  -----------  ----------- 
 Actual results 
  (for fiscal 
  year ended 
  March 31,2022)         50,610       1,504       1,859        1,370       278.55 
                     ----------  ----------  ----------  -----------  ----------- 
 

Reasons for Revisions:

- Sales volume is expected to be much higher than expected, thanks largely to strong sales of saccharified products for beverages, demand for which increased due to the hot summer and the government's relaxing of restrictions on activities for the first time in three years.

- Sales are expected to increase due to higher by-product prices in line with higher grain prices, higher sales volume of saccharified products, and the promotion of product price optimization in response to soaring raw-material corn market prices and the impact of foreign exchange rates.

- Based on the above, the full-year forecast for Sales, Operating income, Ordinary profit and Net income are expected to exceed the previous forecast.

   2.    Revision for Dividend Forecast 
 
                                                Annual Dividend 
                     End of         End of           End of           End of      Total 
                      1st quarter    2(nd) quarter    3(rd) quarter    Fiscal 
                                                                       year 
                    -------------  ---------------  ---------------  ----------  ---------- 
 Previous forecast        -               -                -          65.00 yen   65.00 yen 
  ( April 28, 
  2022) 
                    -------------  ---------------  ---------------  ----------  ---------- 
 Revised forecast         -               -                -             180.00      180.00 
                                                                            yen         yen 
                    -------------  ---------------  ---------------  ----------  ---------- 
 Current year             -               -                -             --          -- 
  results 
                    -------------  ---------------  ---------------  ----------  ---------- 
 Previous year            -               -                -             100.00      100.00 
  results                                                                   yen         yen 
  (for fiscal 
  year ended 
  March 31, 
  2022) 
                    -------------  ---------------  ---------------  ----------  ---------- 
 

Reason for Revisions:

- The year-end dividend has been revised to 180.00 yen per share in accordance with the aforementioned revision of the company's full-year earnings forecast.

* The above forecasts are based on information currently available, but actual results may vary due to future circumstances.

(End)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCDFLBXLBLBFBK

(END) Dow Jones Newswires

October 31, 2022 03:14 ET (07:14 GMT)

Mit.corp. 24 (LSE:17NX)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Mit.corp. 24 (LSE:17NX)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024