Announcement of Revised Performance Forecast
(April 26, 2007)
Toyo Tire & Rubber Co., Ltd. has made the following revisions to its consolidated and non-consolidated performance forecasts for the fiscal year ending March 31, 2007 (April 1, 2006 to March 31, 2007), which were announced on February 16, 2007.
1. Revision of the consolidated performance forecast for the fiscal year ending March 31, 2007 (April 1, 2006 to March 31, 2007):
Net Sales |
Ordinary Income |
Net Income |
|
| Previously announced forecast (A) （Released on February 16, 2007） |
320,000 | 6,000 | 8,200 |
| Revised forecast (B) | 320,000 | 5,700 | 6,000 |
| Difference (B - A) | 0 | -300 | -2,200 |
| Percentage change | -5.0% | -26.8% | |
| Results for the previous fiscal year ended March 31, 2006 | 300,249 | 10,453 | 5,378 |
2. Revision of the non-consolidated performance forecast for the fiscal year ending March 31, 2007 (April 1, 2006 to March 31, 2007):
Net Sales |
Ordinary Income |
Net Income |
|
| Previously announced forecast (A) （Released on February 16, 2007） |
246,000 | 5,800 | 4,600 |
| Revised forecast (B) | 244,000 | 5,900 | 2,900 |
| Difference (B - A) | -2,000 | 100 | -1,700 |
| Percentage change | -0.8% | 1.7% | -37.0% |
| Results for the previous fiscal year ended March 31, 2006 | 236,910 | 9,689 | 4,070 |
3. Reasons for the revisions
The posting of extraordinary losses (including environmental expenses such as those incurred by the Company in the disposal of asbestos, and retirement losses on idle facilities), as well as the posting of impairment losses (resulting from the transfer of a portion of business by our subsidiary), were the primary reasons for net profit falling short of previously announced forecasts (released February 16, 2007).