To all whom it may concern
November 9, 2015
Company name: Credit Saison Co., Ltd. (Code: 8253, First Section of the Tokyo Stock Exchange) Name of the representative: President and CEO: Hiroshi Rinno
Reference: General Manager, Public Relations Office: Mayumi Tamura
(TEL: +81-3-3982-0700)
Announcement regarding difference in the forecasted and actual performance for the first half of the fiscal year ending March 31, 2016
(consolidated/non-consolidated) and revision of the forecast of business results for the full fiscal year (consolidated/non-consolidated)
This letter was written to announce differences which occurred in the forecasted performance which was published on May 13, 2015, and the actual performance published today for the first half of the fiscal year ending March 31, 2016 (consolidated/non-consolidated).
Also, in consideration of current trends in business results, we have revised our forecast of business results for the full fiscal 2015 (consolidated/non-consolidated) from the forecast published May 13, 2015, as follows.
Details
Differences between the forecasted and actual performance
Differences between the forecasted and actual consolidated performance for the first half of the fiscal year ending March 31, 2016
(April 1, 2015 - September 30, 2015)
Operating revenue
Operating income
Ordinary income
Net income attributable to owners of
parent
Net income per share
Previous announced forecast (A)
(millions of yen)
(millions of yen)
(millions of yen)
(millions of yen)
(yen)
132,500
26,000
27,500
17,500
95.30
Actual results (B)
134,940
26,716
34,235
23,027
125.28
Amount of increase or decrease (B)-(A)
2,440
716
6,735
5,527
Rate of change (%)
1.8
2.8
24.5
31.6
(For your reference) Actual results of the previous term (First half of fiscal 2014)
126,566
22,531
26,607
18,526
100.89
Differences between the forecasted and actual non-consolidated performance for the first half of the fiscal year ending March 31, 2016
Revision to full year forecast
Revision to full year consolidated performance forecast for the term ending March 31, 2016
(April 1, 2015 - March 31, 2016)
Operating revenue
Operating income
Ordinary income
Net income attributable to owners of
parent
Net income per share
Previous announced forecast (A)
(millions of yen)
(millions of yen)
(millions of yen)
(millions of yen)
(yen)
268,000
50,000
54,500
35,000
190.60
Current forecast revision (B)
270,000
53,000
60,000
38,500
209.30
Amount of increase or decrease
(B)-(A)
2,000
3,000
5,500
3,500
Rate of change (%)
0.7
6.0
10.1
10.0
(Reference) Actual results of the previous term
(Term ended March 31, 2015)
259,076
40,161
43,687
12,628
68.77
Revision to full year non-consolidated performance forecast for the term ending March 31, 2016
Reasons for Differences and Revisions
(April 1, 2015 - September 30, 2015)
Operating revenue | Operating income | Ordinary income | Net income | Net income per share | |
Previous announced forecast (A) | (millions of yen) | (millions of yen) | (millions of yen) | (millions of yen) | (yen) |
112,400 | 20,950 | 22,500 | 12,800 | 69.68 | |
Actual results (B) | 111,657 | 20,318 | 22,008 | 12,702 | 69.08 |
Amount of increase or decrease (B)-(A) | (742) | (631) | (491) | (97) | |
Rate of change (%) | (0.7) | (3.0) | (2.2) | (0.8) | |
(For your reference) Actual results of the previous term (First half of fiscal 2014) | 106,285 | 19,945 | 21,971 | 13,592 | 73.99 |
(April 1, 2015 - March 31, 2016)
Operating revenue | Operating income | Ordinary income | Net income | Net income per share | |
Previous announced forecast (A) | (millions of yen) | (millions of yen) | (millions of yen) | (millions of yen) | (yen) |
230,000 | 43,300 | 46,000 | 27,500 | 149.69 | |
Current forecast revision (B) | 231,700 | 43,700 | 46,500 | 34,000 | 184.76 |
Amount of increase or decrease (B)-(A) | 1,700 | 400 | 500 | 6,500 | |
Rate of change (%) | 0.7 | 0.9 | 1.1 | 23.6 | |
(Reference) Actual results of the previous term (Term ended March 31, 2015) | 219,336 | 35,370 | 38,449 | 11,315 | 61.60 |
Regarding consolidated performance for the first half of the fiscal year ending March 31, 2016, aided by the strong real estate market, sales prices of real-estate assets owned by the Company exceeded initial plans in a consolidated subsidiary company in a real estate related business, and as a result, operating revenue, operating income, ordinary income, and net income attributable to owners of parent respectively surpassed the previous forecast.
For the full year consolidated performance forecast, since liquidation of some business in a consolidated real estate subsidiary company is scheduled for completion, the distribution of residual assets and reversal for the allowance for doubtful accounts for related company loan receivables are expected. In addition, based on the recent business situation, both the full year consolidated and non-consolidated performance forecast exceeds the previous forecast as mentioned above.
※The results forecast above includes forward-looking statements about future performance of the Company, as of the announcement date of this document, which are based on assumptions and projections. Actual results may differ materially from the forecasts herein due to various factors. Moreover, the transition to the new system is scheduled to start from fiscal year 2016 (April 1, 2016 to March 31, 2017). In light of the accompanying depreciation expenses to be posted, the Company remains committed to achieving its performance targets.
End
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