Tokai Carbon : Notice on Revision of Earnings Forecast
November 02, 2017 at 06:15 am EDT
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Notice on Revision of Earnings Forecast
November 2, 2017
Tokai Carbon has revised its consolidated earnings forecast for fiscal year ended December 31, 2017 (January 1 to December 31, 2017) that was announced on July 31, 2017, based on the trend in earnings to date. This is a notice on that revision, which is detailed below.
Details
Net sales
Operating income
Ordinary income
Net income/(loss) attributable to owners of the
parent company
Net income per share (EPS)
Previous forecast (A)
JPY in millions
JPY in millions
JPY in millions
JPY in millions
Yen
98,000
8,500
9,700
9,100
42.69
Revised forecast (B)
100,000
10,500
12,000
10,800
50.67
Difference (B - A)
2,000
2,000
2,300
1,700
－
Difference rate (%)
2.0
23.5
23.7
18.7
－
(Reference)
Results from previous fiscal year,
ended December 31, 2016
88,580
1,131
1,702
(7,929)
(37.20)
Revision of the consolidated earnings forecast for the full year ended December 31, 2017 (from January 1 to December 31, 2017)
Reasons for Revision
Tokai Carbon expects net sales to exceed the previous forecast owing to growth in graphite electrode sales volume, an increase in the sales price of carbon black, and greater than anticipated depreciation of the yen than previously forecast. Operating income is expected to exceed the previous forecast owing to improved profitability of carbon black and graphite electrodes, and to the positive effect of yen depreciation, among other factors. Ordinary income and net income attributable to owners of the parent company are also expected to exceed the previous forecast for the same reasons as operating income.
Tokai Carbon is carefully examining the impact of the acquisition described in Acquisition of Shares in
U.S. Subsidiary of SGL GE, a Graphite Electrode Manufacturer, which was announced on September 28, 2017. The impact of this on consolidated earnings for fiscal year ending December 2017 has not been incorporated into this Notice on Revision of Earnings Forecast. If the need to revise the earnings forecast and any events that should be disclosed arise in the future, the company will disclose these promptly.
* The above-mentioned forecasts are based on the information currently available to the Company and certain assumptions judged to be reasonable. Note that actual performance may differ significantly due to a variety of factors.
Contact: Kazuhiko Matsubara, Executive Officer and General Manager, Accounting & Finance Department, Tel.: +81-3-3746-5100
Tokai Carbon Co. Ltd. published this content on 02 November 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 02 November 2017 10:14:04 UTC.
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Tokai Carbon Co., Ltd. is one of the Japanese leaders in manufacturing and marketing of coal and graphite products. The group is also producing industrial furnaces. Net sales break down by family of products as follows:
- coal and graphite products (69.6%): coal, graphite electrodes, special graphite and friction materials primarily for industrial, electronic, energy, automotive and mechanic applications;
- cathodes for smelting aluminum and furnace linings (18.1%);
- industrial furnaces and heating products (6.9%): for thermal processing of ceramic products, electronic components, metals, glasses, etc.;
- other (5.4%).
Net sales break down geographically as follows: Japan (24.6%), Asia (26.7%), the United States (26.5%), Europe (11.6%) and other (10.6%).
TOKAI CARBON CO., LTD. 
