News Release

2000.9.25Non-consolidated ordinary income First Estimate of 10 billion Yen Revisions to the March 2001 period's business forecast (consolidated and non-consolidated)

On September 25, we announced the revisions given below to our forecasts (consolidated and non-consolidated) up to the March 2001 period made public at the time of our announcement of our account settlements on May 18, 2000.

1. Revisions to the consolidated business performance forecast

1-1. Mid-term period revisions (April 1, 2000 to September 30, 2000)

Monetary unit: millions of yen)

  Net sales Ordinary income Net income

Current revised forecast

67,000 4,600 1,400

Previously announced forecast

70,000 3,700 800

Comparative difference

95.7% 124.3% 175.0%


1-2. Yearly term revisions (April 1, 2000 to March 31, 2001)

(Monetary unit: Millions of yen)

  Net sales Ordinary income Net income

Current revised forecast

142,000 10,800 3,700

Previously announced forecast

144,000 10,000 3,300

Comparative difference

98.6% 108.0% 112.1%


(Reference) Performance of
previous term (term 3, 2000)

141,748 8,590 4,319

Comparative difference

100.2% 125.7% 85.7%


The comparative fall in net income is caused by the transference of 3.8 billion yen written off for retirement pay obligations in line with the new retirement fund standard to be introduced in March 2001.

2. Revisions to the non-consolidated business performance forecast
2-1. Mid-term period revisions (April 1 2000 to September 30, 2000)

(Monetary unit: Millions of yen)

  Net sales Ordinary income Net income

Current revised forecast

45,300 4,300 1,400

Previously announced forecast

45,500 3,200 800

Comparative difference

99.6% 134.4% 42.9%


(Reference) Performance of
previous mid-terms (term 9, 2000)

45,267 2,906 1,767


2-2. Yearly term revisions (April 1, 2000 to March 31, 2001)

(Monetary unit: Millions of yen)

  Net sales Ordinary income Net income

Current revised forecast

95,000 10,000 2,200

Previously announced forecast

96,000 9,600 3,100

Comparative difference

99.0% 104.2% 71.0%


(Reference) Performance of
previous period (term 3, 2000)

94,951 8,797 3,013

Comparative difference

100.1% 113.7% 73.1%


The comparative fall in net income is caused by the transference of 3.4 billion yen written off for retirement pay obligations in line with the new retirement fund standard to be introduced in March 2001.

3. Reasons for the revisions in business performance

(1) Settlement of Consolidated Accounts
Net sales, ordinary income and net income were largely influenced by the non-consolidated business. In the September mid-term period, increased profit margins for ordinary income dropped more than the non-consolidated, but this is because the increased profit margin for the consolidated companies was less than the previous period's forecast.

For net income, the special losses concerning the parent company's appropriation of the consolidated companies' accumulated losses have already been written off as consolidated losses so that the estimate is for a large profit.

For the yearly period, considering the mid-term estimates, the revised figures are 142 billion yen for net sales, 10.8 billion yen for ordinary income and 3.7 billion yen for net income.

(2) Settlement of Non-consolidated Accounts
At the mid-term period, ingredient chocolate for confectioneries and frozen sweets, confectionery and bread ingredients, and water-soluble soy polysaccharides, and so on, generally showed positive changes. Furthermore, even though a drop in sale prices lowered the net sales, the stronger yen and the reduction in the market price of raw materials allow us to estimate a new all-time high with operating income at 4.6 billion yen and ordinary income at 4.3 billion yen, exceeding the previous forecast.

For net income, the accumulated loss of 2.1 billion yen for financial improvements has been dealt as a special loss, so the estimate is lower than the previous forecast.

For the yearly period, considering the mid-term estimates, the revised figures are 95 billion yen for net sales, 10 billion yen for ordinary income, and 2.2 billion yen for net income.

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