Funai B5300
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Press Release
August 10, 2009 Funai Electric Co., Ltd. President and CEO: Tomonori Hayashi (Code No.: 6839 First Section of TSE/OSE) Contact:Naoyuki Takanaka Senior Staff Investor / Public Relations Department T e l : - - 0 - 9 5
For Immediate Release:
Funai Reports Revised Forecast of Consolidated Operating Results
Funai Electric Co., Ltd. has revised its forecast of consolidated operating results released on May 13, 2009, as described below.
1. Revised consolidated forecast results for the first half (April 1, 2009 to September 30, 2009) (Units: Million Yen) Net sales Previously Announced Forecast (A) Revised Forecast (B) Amount of Increase/Decrease (BA) Percentage Changed (%) (Reference) Previous FY Results (Interim Period through September 2008) Operating income 4,100 5,500 Ordinary income 3,800 5,300 Net income
174,500 174,500
3,000 3,900
1,400 34.1
1,500 39.5
900 30.0
144,659
12,102
2. Reason for revision of consolidated forecast results for the first half Net sales for LCDTV have significantly grown due to the enhancement of the product line-up after the addition of the Philips brand and both of DVD related and information equipment products have also increased in a good shape. Although the increased revenue stream over the corresponding period of FY 2008 was already projected, the more than anticipated positive effect on profits has contributed to the improvement of profitability. Based on the above factors, Funai Electric Co. Ltd. projects earnings will exceed its consolidated operating results forecast and has revised its consolidated operating income, ordinary income and net income for the first half announced on May 13, 2009.
3. Full-year consolidated operating results forecast (April 1, 2009 to March 31, 2010) Funai Electric Co., Ltd. has not changed its full-year consolidated operating results forecast due to the uncertain and unclear market environment for the second half (October 1, 2009 to March 31, 2010) and will release a revised consolidated fiscal year operating results forecast if it determines changes in its results forecast are necessary.
(Notes) The aforementioned estimates are forward-looking statements about the future performance of Funai Electric Co., Ltd. and are based on managements assumptions and beliefs in light of information currently available, and involve known and unknown risks and uncertainties. Various factors such as a change in economic conditions overseas (especially changes in the companys key U.S. market) and severe price fluctuations may cause actual events and results to differ materially from those anticipated in these statements.
Press Release
October 29, 2009 Funai Electric Co., Ltd. President and CEO: Tomonori Hayashi (Code No.: 6839 First Section of TSE/OSE) Contact:Naoyuki Takanaka Senior Staff Investor / Public Relations Department T e l : - - 0 - For Immediate Release:
Funai Reports Revised Forecast of Consolidated Operating Results
Funai Electric Co., Ltd. has revised its forecast of consolidated operating results released on August 10, 2009, as described below. 1. Revised consolidated forecast results for the first half (April 1, 2009 to September 30, 2009) (Units: Million Yen) Net sales
Announced Forecast on May 13 (A) Announced Forecast on August 10 (B)
Operating income 4,100 5,500 10,000
Ordinary income 3,800 5,300 9,500
Net income 3,000 3,900 7,300
174,500 174,500 167,000
Revised Forecast (C) Amount of Increase/Decrease (C-B) Percentage Changed (%) (Reference) Previous FY Results (Interim Period through September 2008)
4.3 144,659
4,500 81.8
4,200 79.2
3,400 87.2
12,102
2. Revised consolidated forecast results for Fiscal Year (April 1, 2009 to March 31, 2010) (Units: Million Yen) Net sales
Operating income 6,000
Ordinary income 5,300
Net income 3,900
340,000
Revised Forecast (C) Amount of Increase/Decrease (C-A) Percentage Changed (%) (Reference) Previous FY Results (FY Ended March 2009)
330,000 10,000 2.9 302,777
12,000 6,000 100.0 1,409
11,400 6,100 115.1 1,226
8,700 4,800 123.1 17,364
3. Reason for the revision of consolidated forecast results for the first half Net sales of DVD-related products and printers rose steadily and are projected to exceed the Companys plan. Net sales for the LCD television product lineup, which the Company expanded with the addition of Philips-brand products, also increased sharply compared with the same period of the previous fiscal year. Because of the panel procurement shortage resulting from the rapid global growth of LCD TV demand and unexpected other factors, however, LCD TV net sales are projected to be less than the Companys plan. Based on these forecasts, the Company projects total net sales will be less than planned. Although net sales will fall below the plan, the increased earnings effect from the growth in LCD TV net sales has been substantially greater than planned and has significantly improved earnings. Earnings have been further boosted by net sales of DVD-related products and information equipment, which were also higher than the Companys plan. Based on the above factors, Funai Electric Co., Ltd. has revised its consolidated net sales, operating income, ordinary income and net income for the first half announced on August 10, 2009.
4. Full-year consolidated operating results forecast (April 1, 2009 to March 31, 2010) Although Funai Electric expects the panel procurement shortage to be eliminated from the third quarter, the Company anticipates no change in the strengthening tendency of the yen and also expects keen price competition, particularly in the audio-visual equipment category, to continue. Furthermore, in the United States, the Funai Groups largest market, market surveys project that sales of LCD televisions, the Companys core product, will grow steadily even though customer traffic during the year-end sales season is likely to be lower than in the previous year. On the other hand, private consumption expenditures are being restrained by concerns over employment, which may most likely bring a possibility prices will slip further as well. Overall the situation remains uncertain. As a result of considering these conditions, Funai Electric Co. Ltd. has revised the consolidated fiscal year operating results forecast announced on May 13, 2009 as described above.
(Notes) The aforementioned estimates are forward-looking statements about the future performance of Funai Electric Co., Ltd. and are based on managements assumptions and beliefs in light of information currently available, and involve known and unknown risks and uncertainties. Various factors such as a change in economic conditions overseas (especially changes in the companys key U.S. market) and severe price fluctuations may cause actual events and results to differ materially from those anticipated in these statements.
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