17NX Mit.corp. 24

TIDM17NX

RNS Number : 1158A

Mitsubishi Corporation

31 January 2022

January 31, 2022

(Abridged version of report filed with the Tokyo Stock Exchange on January 31, 2022)

Notice Regarding Revision of Forecast for Non-Consolidated Results for

Fiscal Year Ending March 31, 2022 for Nihon Shokuhin Kako Co., Ltd.

Mitsubishi Corporation (MC) today announced that its consolidated subsidiary Nihon Shokuhin Kako Co., Ltd. (Nihon Shokuhin) has provided information regarding the revision of its forecast for non-consolidated results for the fiscal year ending March 31, 2022.

The current situation is expected to have a negligible impact on MC's consolidated performance.

Please see the attached documents from Nihon Shokuhin for details.

January 31, 2022

(Translation of report filed with the Tokyo Stock Exchange on January 31, 2022 )

Notice Regarding Revised Forecast for Non-Consolidated Results

for Fiscal Year Ending March 31, 2022

This notice serves to provide information on a revision of Nihon Shokuhin Kako Co., Ltd. (Nihon Shokuhin)'s non-consolidated results forecast for the fiscal year ending March 31, 2022.

Details are as follows.

1. Differences between Nihon Shokuhin's forecast for the fiscal year ending March 31, 2022 that was announced on April 30, 2021 and its revised forecast that was announced today

(for period beginning on April 1, 2021 and ending on March 31, 2022)

 
                      Net Sales   Operating   Ordinary    Net Income   Net Income 
                       (million    Income      Income      (million     Per Share 
                       yen)        (million    (million    yen)         (yen) 
                                   yen)        yen) 
 Previous forecast 
  (A)                    49,000         900       1,200          900       182.97 
                     ----------  ----------  ----------  -----------  ----------- 
 Revised forecast 
  (B)                    50,500       1,400       1,700        1,250       254.13 
                     ----------  ----------  ----------  -----------  ----------- 
 Difference 
  (B-A)                   1,500         500         500          350            - 
                     ----------  ----------  ----------  -----------  ----------- 
 Difference 
  (%)                      3.1%       55.6%       41.7%        38.9%            - 
                     ----------  ----------  ----------  -----------  ----------- 
 Actual results 
  (for fiscal 
  year ended 
  March 31,2021)         45,060       1,518       1,673        1,229       250.03 
                     ----------  ----------  ----------  -----------  ----------- 
 

Reasons for Revisions:

- Sales are expected to increase due to product price rationalization caused by rising production costs due to surging raw material corn and crude oil prices, as well as the expected sales-price increases in the By-products segment as a result of escalating grain prices.

- Although profits are expected to decline in the fourth quarter due to increases in raw materials, fuel and other manufacturing costs, as well as scheduled repair work at the Mizushima Plant. However, they are expected to exceed the forecast announced on April 30, 2021.

   2.    Revision for Dividend Forecast 
 
                                                Annual Dividend 
                     End of         End of           End of           End of      Total 
                      1st quarter    2(nd) quarter    3(rd) quarter    Fiscal 
                                                                       year 
                    -------------  ---------------  ---------------  ----------  ---------- 
 Previous forecast        -               -                -          65.00 yen   65.00 yen 
  ( April 30, 
  2021) 
                    -------------  ---------------  ---------------  ----------  ---------- 
 Revised forecast         -               -                -          90.00 yen   90.00 yen 
                    -------------  ---------------  ---------------  ----------  ---------- 
 Current year             -               -                -             --          -- 
  results 
                    -------------  ---------------  ---------------  ----------  ---------- 
 Previous year            -               -                -          85.00 yen   85.00 yen 
  results 
  (for fiscal 
  year ended 
  March 31, 
  2021) 
                    -------------  ---------------  ---------------  ----------  ---------- 
 

Reason for Revisions:

- The year-end dividend has been revised to 90.00 yen per share in accordance with the aforementioned revision of the company's full-year earnings forecast.

* The above forecasts are based on information currently available, but actual results may vary due to future circumstances.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDBBMRTMTTJMFT

(END) Dow Jones Newswires

January 31, 2022 02:32 ET (07:32 GMT)

Mit.corp. 24 (LSE:17NX)
Gráfico Histórico do Ativo
De Jan 2025 até Fev 2025

Mit.corp. 24 (LSE:17NX)
Gráfico Histórico do Ativo
De Fev 2024 até Fev 2025