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Press Room
Notice of revision of results and year-end dividend forecasts
2009-02-03
Toyota Tsusho Corporation (hereinafter, "the Company") has revised the results and year-end dividend forecasts announced on October 30, 2008 as follows.
1. Revision of results forecast(Unit: million JPY)
(1) Revisions to consolidated annual financial results forecast for the fiscal year ending March 31, 2009 (April 1, 2008 to March 31, 2009)
Sales |
Operating |
Current |
Net income |
Net income |
|
| Previously announced forecast (A) |
million yen |
million yen |
million yen |
million yen |
yen |
New |
6,000,000 |
80,000 |
90,000 |
44,000 |
125.61 |
| Difference (B-A) |
-1,800,000 |
-70,000 |
-66,000 |
-30,000 |
-85.63 |
Differential |
-23.1 |
-46.7 |
-42.3 |
-40.5 |
-40.5 |
| (For Reference) Results for the previous fiscal year (ending March 31, 2008) |
7,000,352 |
131,671 |
142,969 |
67,506 |
192.44 |
(2) Reason for revisions
The above revisions to the consolidated results forecast for the fiscal year ending March 31, 2009 reflect a combination of actual results for the first three quarters, a fall in business in the Metals Division and Machinery and Electronics Division, etc. and a revision in assumed exchange rates.
The exchange rates expected to apply in the fourth quarter are USD 1 = 90JPY and EUD 1 = 120JPY.
2. Revision of year-end dividend forecast
(1) Outline of revisions
Dividend per share |
|||
| Reference date | End of 2nd quarter |
End of year |
Annual |
| Previous forecast (announced October 30, 2008) |
- |
18 yen |
36 yen |
| Revised forecast | - |
(TBD) |
(TBD) |
| Results for this period | 18 yen |
- |
- |
| Results for previous period (ending March 31, 2008) |
14 yen |
16 yen |
30 yen |
(2) Reason for revision
The Company maintains a results-based dividends policy so as to distribute profits in a manner that reflects the consolidated results achieved in each period. The general policy is to gradually increase dividend ratios over time while taking into consideration a target capital requirement of 20%, for ongoing investment.
In light of forecast results for this period having been revised downwards, however, and considering the unclear direction of the future business environment, at this point in time the amount of the year-end dividend for this period remains undecided. The Company would like to decide the matter of the year-end dividend at a future date based on factors such as the annual result for the period and the dividend payment ratio.
(Note) The above forecast is based on the information available to the Company as at the current point in time and for a variety of reasons may differ from actua
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