February 05, 2009 No.1280
Revision of FY2008 Consolidated Financial Results Estimates
Tokyo, February 5, 2009 - Mitsubishi Heavy Industries, Ltd. (MHI), reflecting recent business conditions, today revised the estimates of the company's consolidated financial results for the fiscal year (FY) 2008 (April 1, 2008, to March 31, 2009,) announced on October 31, 2008.
Revised estimates of consolidated results for FY2008
(April 1,
2008, to March 31, 2009)
(billions
of yen)
|
|
Net Sales |
Operating Income |
Ordinary Income |
Net Income |
|
Previously
announced estimates (A) |
3,400.0 |
130.0 |
110.0 |
54.0 |
|
The
latest estimates announced today (B) |
3,300.0 |
105.0 |
65.0 |
20.0 |
|
Changes
(amount): B-A |
-100.0 |
-25.0 |
-45.0 |
-34.0 |
|
Changes
(%) |
-2.9% |
-19.2% |
-40.9% |
-63.0% |
|
FY2007
results (For
reference) |
3,203.0 |
136.0 |
109.5 |
61.3 |
Reasons for the revision
MHI expects that the company's net sales
and income for FY2008 will be lower than the previously announced estimates
as a result of: 1) the downward revision of projected sales, mainly in the operational
segment of Mass and Medium-Lot Manufactured Machinery, reflecting the sharp
deterioration of market conditions in this global-scale economic recession;
2) reexamination of unfixed currency exchange rates to bring them in line with
recent market rates, on which financial results estimates were premised and
3) the reflection of the most recent estimates for financial results of the
company's equity method affiliates.
Please note that this estimate has been projected with currently available information and data. The actual results, therefore, may diverge broadly with the influence of a variety of outside factors such as economics surrounding MHI, currency movement of the yen to the U.S. dollar and other foreign currencies, and trends of stock markets in Japan.
