Announcement of Revised Performance Forecast
(April 28, 2009)
OSAKA, JAPAN . April 28, 2009 . 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, 2009 (April 1, 2008 to March 31, 2009), which were announced on February 9, 2009.
1. Revisions to the consolidated performance forecast (April 1, 2008 to March 31, 2009) of the fiscal year ending March 31, 2009
(Unit: Millions of yen)
| Net sales | Operating income | Ordinary income | Net income | Net income per share (yen) |
|
| Previously announced forecast (A) (Released on February 9, 2009) |
332,000 | (2,000) | (5,400) | (12,700) | (57.99) |
| Revised forecast (B) | 328,000 | (3,000) | (6,200) | (10,800) | (49.31) |
| Difference (B-A) | (4,000) | (1,000) | (800) | 1,900 | - |
| Percentage change | (1.2%) | - | - | - | - |
| (Ref.) Results from the fiscal year ended March 31, 2008 |
357,233 | 13,168 | 9,893 | 6,137 | 29.36 |
2. Revisions to the non-consolidated performance forecast (April 1, 2008 to March 31, 2009) of the fiscal year ending March 31, 2009
(Unit: Millions of yen)
| Net sales | Operating income | Ordinary income | Net income | Net income per share (yen) |
|
| Previously announced forecast (A) (Released on February 9, 2009) |
220,000 | (9,300) | (8,000) | (14,300) | (65.29) |
| Revised forecast (B) | 216,000 | (11,000) | (9,400) | (11,600) | (52.97) |
| Difference (B-A) | (4,000) | (1,700) | (1,400) | 2,700 | - |
| Percentage change | (1.8%) | - | - | - | - |
| (Ref.) Results from the fiscal year ended March 31, 2008 |
246,221 | 2,989 | 3,277 | 451 | 2.16 |
3. Reasons for the revisions
Despite of our efforts for recovering earnings including building production structure meeting demand and reinforcement of cost down activities, operating income and ordinary income on both consolidated and non-consolidated basis are expected to fall below its previously announced (February 9, 2009) forecasts, due to the rapid demand decreases as a result of the global economic slowdown. Also, net income is expected to exceed its previously announced forecasts as a result of revaluation of collectability of its deferred tax assets.
Note: The above earnings estimates are projected statements, which are based on our current assumptions in light of the information currently available to us and involve potential risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause our actual results to be materially different from these estimates.