ITOCHU TECH SOL February 1, 2023 | |
Company name: | ITOCHU Techno-Solutions |
Corporation | |
Name of representative: | Ichiro Tsuge, President & CEO |
(Securities Code 4739, | |
Prime Market of the Tokyo Stock | |
Exchange) | |
Inquiries: | Hiromu, Tsujii, General Manager, |
Corporate Planning Division | |
(Telephone: +81-3-6403-6000) |
Notice Concerning Revisions to Full-Year Financial Results Forecasts
ITOCHU Techno-Solutions Corporation (hereinafter "the Company") hereby announces that, in view of recent trends in the business performance, the Company has revised its full-year earnings forecasts for the fiscal year ending March 31, 2023 released on April 28, 2022 as follows.
1. Revisions to consolidated financial results forecasts for the current fiscal year (April 1, 2022 - March 31, 2023)
Net profit | Basic earnings per | |||||
Revenue | Operating Income | Profit before | Net Profit | attributable to | share attributable | |
Tax | CTC's | to CTC's | ||||
shareholders | shareholders | |||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | Millions of yen | Yen | |
Previously announced | 553,000 | 55,500 | 56,000 | 38,500 | 38,000 | 164.45 |
forecasts (A) | ||||||
Revised forecasts (B) | 563,000 | 45,000 | 45,500 | 32,500 | 33,000 | 142.81 |
Change (B-A) | 10,000 | (10,500) | (10,500) | (6,000) | (5,000) | － |
Change (%) | 1.8 | (18.9) | (18.8) | (15.6) | (13.2) | － |
(Reference) | ||||||
Actual consolidated | ||||||
results for the | 522,356 | 50,482 | 51,875 | 34,466 | 35,373 | 153.08 |
previous fiscal year | ||||||
(Fiscal year ended | ||||||
March 31, 2022) | ||||||
2. Reason for revision
Our company-wide revenue is expected to exceed the previous forecast since DX, Cloud computing, and other service businesses for a wide range of industries have remained strong. On the other hand, we anticipate to see a decline in revenue from the existing business areas of the Telecommunication Group due to product delivery delays stemming from the semiconductor shortage and slower investments by its customers. On the profit front, the Group's gross profit lowered due to the revenue decline and gross profit margin fell because of our efforts to acquire new business areas. These impacts have made it difficult for us to deliver the initial company-wide operating income forecast. In addition, we are considering taking measures potentially including posting impairment loss for one of our overseas consolidated subsidiaries. As a result, the income items after operating income of the Company are expected to underperform the previous forecasts as well. We will promptly disclose any important matters that may affect our business performance in the future.
3. Divided forecast
Our dividend forecast has remained unchanged.
(Note) The above forecasts are based on information available as of the release date of this document. Actual performances may differ from these forecasts due to various factors going forward.
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Itochu Techno-Solutions Corporation published this content on 01 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2023 04:07:01 UTC.
