[This is an English translation prepared for the convenience of non-resident shareholders. Should there be any inconsistency between the translation and the official Japanese text, the latter shall prevail.]
October 30, 2014
Company Name: JAPAN TOBACCO INC.
Representative: Mitsuomi Koizumi, President, Chief Executive Officer and Representative Director
(Stock Code: 2914; Stock Exchange: Tokyo First Section) Contact: Media and Investor Relations Division
Tel: +81-3-3582-3111
Notice Concerning Amendments to Earnings Forecasts of JT's SubsidiaryJapan Tobacco Inc. (JT) today announced that Torii Pharmaceutical Co., Ltd., a consolidated subsidiary of JT, amended the earnings forecasts for the December 2014 term (April 1, 2014 through December 31, 2014) as
the attached sheet.
The effects of this amendment on JT's consolidated financial results will be immaterial.
(Attachment)
Reference: "Torii Amends Earnings Forecasts for Fiscal Year Ending December 31, 2014" (a material released by Torii Pharmaceutical Co., Ltd. as of October 30, 2014)
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(Reference)
October 30, 2014
Torii Pharmaceutical Co., Ltd. Torii Amends Earnings Forecasts for Fiscal Year Ending December 31, 2014
In consideration of the recent trend in earnings and other factors, Torii Pharmaceutical Co., Ltd. ("Torii") has amended its earnings forecasts for the fiscal year ending December 31, 2014, which were announced on April 24,
2014, as described below.
1. Amendments to Earnings Forecasts for Fiscal Year Ending December 31, 2014 (April 1, 2014, through
December 31, 2014)
Net sales (Millions of yen) | Operating income (Millions of yen) | Ordinary income (Millions of yen) | Net income (Millions of yen) | Net income per share (Yen) | |
Previous forecast (A) | 42,900 | 2,700 | 2,800 | 1,600 | 56.54 |
New forecast (B) | 43,500 | 3,500 | 3,600 | 2,000 | 70.67 |
Amount of change (B−A) | 600 | 800 | 800 | 400 | |
Rate of change (%) | 1.4 | 29.6 | 28.6 | 25.0 | |
(Reference) Actual cumulative amount for April to December 2013) | 43,524 | 3,986 | 4,098 | 2,378 | 84.03 |
* The earnings forecasts for the fiscal year ending December 31, 2014, which is the transitional period for a change to the fiscal year end, represent the forecasts for a nine-month period (April 1, 2014, to December 31,
2014).
2. Reasons for Amendments
Net sales is now expected to be higher than the previously announced forecast figure because sales of products including Truvada® Tablets, an anti-HIV drug, and REMITCH® CAPSULES, an oral antipruritus drug for hemodialysis patients, are stronger than expected. Furthermore, on the profits front, although loss on
retirement of non-current assets was recorded as extraordinary loss, some R&D expenses previously expected to occur in the current fiscal year are now expected to occur in the next fiscal year. As a result, operating income, ordinary income and net income are also expected to be higher than the previously announced
forecast figures.
* The above-mentioned earnings forecasts are based on information available to Torii as of the date of this announcement. Actual business results may differ from the forecast figures herein.
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(Reference)
[Reference: 12 months information]
Net sales (Millions of yen) | Operating income (Millions of yen) | Ordinary income (Millions of yen) | Net income (Millions of yen) | |
Actual result from January to December 2013 (A) | 55,291 | 3,621 | 3,738 | 2,335 |
Forecast from January to December 2014 (B) | 58,085 | 4,501 | 4,625 | 2,974 |
Amount of change (B−A) | 2,793 | 880 | 887 | 639 |
Rate of change (%) | 5.1% | 24.3% | 23.7% | 27.4% |
(A) Figures for the actual results for the period from January to December 2013
Figure for January to March 2013 (Actual result for the fiscal year ended March 31, 2013 <12 months> − Actual result for the nine months ended December 31, 2012 <9 months>) + Figure for April to December 2013 (Actual
result for the nine months ended December 31, 2013)
(B) Figures for the forecasts for the period from January to December 2014
Figure for January to March 2014 (Actual result for the fiscal year ended March 31, 2014 <12 months> − Actual result for the nine months ended December 31, 2013 <9 months>) + Figure for April to December 2014 (forecast
for the fiscal year ending December 31, 2014)
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