Announcement of Revised Performance Forecast
(November 9, 2009)
OSAKA, JAPAN – November 9, 2009 – TOYO TIRE & RUBBER CO., LTD. has made the following revisions to its consolidated performance forecasts for the fiscal year ending March 31, 2010 (April 1, 2009 to March 31, 2010) , which were announced on May 11, 2009.
| Net sales | Operating income (loss) |
Ordinary income (loss) |
Net income (loss) |
Net income per share (yen) |
|
| Previously announced forecast (A) (Released on May 11, 2009) |
298,000 | 7,800 | 5,300 | 1,800 | 7.86 |
| Revised forecast (B) | 282,000 | 5,000 | 4,700 | 1,000 | 4.11 |
| Difference (B-A) | (16,000) | (2,800) | (600) | (800) | - |
| Percentage change | (5.4%) | (35.9%) | (11.3%) | (44.4%) | - |
| (Ref.) Results FY 2008 | 328,371 | (2,964) | (6,179) | (10,722) | (48.96) |
2.Reasons for the revisions
Due to raw material cost price increased compare to our forecast, the company anticipates its operating income, ordinary income and net income will fall below the previous announced (May 11, 2009) forecasts.
For your reference, our expected exchange rates are as follows,
1USD=90 Yen, 1Euro=130 Yen.
Note: The above earnings estimates are forward-looking 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 risk, uncertainties and other factors may cause our actual results to be materially different from these estimates.