TACHI S : Notice Concerning Revision of Forecasts of Financial Results
November 09, 2023
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November 10, 2023
Listed Company Name
TACHI-S CO., LTD.
Name of
Yuichiro Yamamoto, Representative Director,
Representative
President, CEO & COO
Stock listing
Tokyo Stock Exchange - Prime Market
Code number
7239
Contact
Atsushi Komatsu, Director, Representative
Director, Executive Managing Officer
(TEL: 0428-33-1917)
Notice Concerning Revision of Forecasts of Financial Results
We hereby issue notice as follows with regard to the consolidated forecast for the FY2023, which was to be determined as of the "Consolidated Financial Highlights for FY2022" announced on May 15, 2023.
Revision of Forecasts
Revision of Consolidated financial forecast for FY2023 (April 1, 2023 through March 31, 2024)
Net income
Net sales
Operating income
Ordinary income
attributable to
Net income per share
owners of parent
Million yen
Million yen
Million yen
Million yen
Yen
Previous forecast(A)
―
―
―
―
―
Revised forecast (B)
291,000
6,000
6,500
800
23.35
Change(B-A)
―
―
―
―
Change in percent (%)
―
―
―
―
(Reference)
Results for FY2023
243,436
1,367
1,973
5,823
170.09
(ended March 31,2024)
(Note) Foreign exchange rate assumptions are as follows: USD/JPY143, MXN/JPY7.8, and RMB/JPY19.7
Reasons for revision:
The financial forecast for the fiscal year ending March 2024 had not been determined because, in relation to the "FY2021 to 2024 medium-term management plan, Transformative Value Evolution (TVE)," announced in May 2021, the Company had closely examined the progress of TVE in response to significant changes in the business environment following its formulation. This time, the Company has made forecasts on the basis of currently available information and forecasts. For details, please refer to "Notice of revision of financial forecast" released today (November 10, 2023).
The current business environment has undergone significant changes in comparison to the time of the TVE announcement in 2021, including delays in the recovery of automobile production due to the prolongation of the impact of COVID-19, the shortage of semiconductors, etc., the decrease in gasoline vehicle sales due to the rapid expansion of sales of new energy vehicles in the Chinese market, and the impact of inflation in various countries. In order to respond to these changes, in addition to the business structure reforms that the company is currently implementing, we are working on measures to improve the profitability of unprofitable business, further increase marginal profit and optimize fixed costs. Under such circumstances, operating income in the full-term consolidated financial forecast for the fiscal year ending March 2024 has been calculated based on the expected revenue contribution due to these additional measures in addition to the effects due to TVE and the recent state of production at our customer automobile manufacturers. On the other hand, net income attributable to owners of the parent company is expected to record an extraordinary loss of 3.5 billion yen in association with the above-mentioned additional business restructuring, etc.
Note: The aforementioned earnings forecasts are based on the information available to us at present, as well as certain assumptions deemed to be logical, and actual results could differ considerably depending on a wide range of factors.
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TACHI-S Co. Ltd. published this content on 10 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 November 2023 04:53:02 UTC.
TACHI-S CO., LTD. is a Japan-based company mainly engaged in the manufacturing and sales of automotive seats and related parts. The Company operates through six business segments. It is engaged in the manufacturing and sales of seats for vehicles, including passenger cars, trucks and buses. It is also engages in the manufacturing and sales of other parts, such as steering components and vehicle body mechanism components. It is also engaged in the rental of commerce facilities.