| October 30, 2003 |
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| Company Name: |
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ISEKI & CO., LTD. |
| Company representative: |
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Hiroyuki Nakano, President |
| Company code: |
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6310 |
| Stock Exchange Listings: |
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First Section, Tokyo Stock Exchange |
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First Section, Osaka Securities Exchange |
| Enquiries: |
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Kazuyoshi Sonoda, Director
(Telephone: +81-3-5604-7710) |
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| To whom it may concern. |
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| Notice concerning revision of projected performance |
| Iseki & Co., Ltd. hereby gives notice that revisions have been made as follows
to the FY 2003 mid-year performance outlook and full-year performance outlook
that were released on May 23, 2003 concurrently with the announcement of financial
statements for the previous period. |
| 1. |
Revisions to the outlook on mid-year consolidated
performance |
| (April 1, 2003 - September 30, 2003) |
(Units: millions of yen, %) |
| |
Sales
|
Operating
Income |
Ordinary
Profit |
Net Income
for the period |
| Previous projection (A) |
74,000 |
2,500 |
2,000 |
1,000 |
| Revised projection (B) |
74,500 |
2,500 |
1,900 |
1,500 |
| Nominal variance (B-A) |
500 |
0 |
- 100 |
500 |
| Percentage variance (%) |
0.7 |
0 |
- 5.0 |
50.0 |
Previous period actual result
(six months ending
September 30, 2002) |
74,324 |
2,164 |
1,287 |
1,003 |
| 2. |
Revisions to the outlook on mid-year non-consolidated
performance |
| (April 1, 2003 - September 30, 2003) |
(Units: millions of yen, %) |
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Sales
|
Operating
Income |
Ordinary
Profit |
Net Income
for the period |
| Previous projection (A) |
45,000 |
1,400 |
1,300 |
600 |
| Revised projection (B) |
42,400 |
1,300 |
1,200 |
700 |
| Nominal variance (B-A) |
- 2,600 |
- 100 |
- 100 |
100 |
| Percentage variance (%) |
- 5.8 |
- 7.1 |
- 7.7 |
16.7 |
Previous period actual result
(six months ending
September 30, 2002) |
49,582 |
1,648 |
1,299 |
1,270 |
| 3. |
Revisions to the outlook on full-year consolidated
performance |
| (April 1, 2003 - March 31, 2004) |
(Units: millions of yen, %) |
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Sales |
Operating
Income |
Ordinary
Profit |
Net Income
for the period |
| Previous projection (A) |
158,000 |
7,000 |
5,000 |
2,000 |
| Revised projection (B) |
158,000 |
7,000 |
5,000 |
2,500 |
| Nominal variance (B-A) |
0 |
0 |
0 |
500 |
| Percentage variance (%) |
0 |
0 |
0 |
25.0 |
Previous period actual result
(six months ending
March 31, 2003) |
156,381 |
6,192 |
4,124 |
1,009 |
| 4. |
Revisions to the outlook on full-year non-consolidated
performance |
| (April 1, 2003 - March 31, 2004) |
(Units: millions of yen, %) |
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Sales
|
Operating
Income |
Ordinary
Profit |
Net Income
for the period |
| Previous projection (A) |
92,000 |
3,200 |
2,800 |
1,300 |
| Revised projection (B) |
92,000 |
3,200 |
2,800 |
1,400 |
| Nominal variance (B-A) |
0 |
0 |
0 |
100 |
| Percentage variance (%) |
0 |
0 |
0 |
7.7 |
Previous period actual result
(six months ending
March 31, 2003) |
94,533 |
3,328 |
2,794 |
1,529 |
| 5. |
Reasons for revisions |
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The projected net income for the interim consolidated results has been revised
to  1,500 million, a rise of 500
million on the original projection of
1,000 million.
This rise is due to the gain made on the devolution of the vehicle-leasing business
from one of the subsidiary companies (announced on August 28, 2003), and the recording
of adjustments for such items as corporate tax. |
| 6. |
Interim consolidated performance (variances
from the previous period) |
| (1) |
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There was almost no change from last period's sales, at 74,500
million. Exports rose 500 million (up 10%), mostly to North America. |
| (2) |
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Operating income was up 300
million on last period due to cost cutting and the reduction of fixed expenses,
at 2,500 million (up 15%).
Ordinary profit was up 600 million, at 1,900 million (up 48%), due to
the reduction of interest and increase in operating income. |
| (3) |
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Net income for the period rose 500
million to 1,500 million (up 50%) for
the above reasons. |
| Projections for full year performance, both consolidated and non-consolidated,
have been revised since the May 23, 2003 announcement, to increase the net income
for the period. |
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