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May 29, 2002

     
Company Name   Anritsu Corporation
Code Number   6754
Media Contact   Hirokazu Hashimoto
    General Manager of Accounting Dept.
    TEL (03) 3473 - 7429
 

Revised Forecasts for Fiscal Year 2002

 Considering recent business conditions, Anritsu Corporation is making the following revisions to the fiscal year 2002 forecasts announced on April 25, 2002.


I. Revised forecasts for 1st half of FY2002

 1. Consolidated forecast for 1st Half of FY2002, ending September 30, 2002
(Millions of yen, %)
  Net Sales Operating Income(Loss) Ordinary Income(Loss) Net Income(Loss)
Previous forecast (A)
(as of April 25, 2002)
45,500 (4,500) (6,500) (6,500)
Revised forecast (B) 45,500 (4,000) (6,000) (9,900)
Increase(Decrease) (B-A) - 500 500 (3,400)
% Change - - - -
1st Half of FY2001 Actual 77,667 12,322 9,731 6,584
 
 2. Non-consolidated forecast for 1st Half of FY2002, ending September 30, 2002
(Millions of yen, %)
  Net Sales Operating Income(Loss) Ordinary Income(Loss) Net Income(Loss)
Previous forecast (A)
(as of April 25, 2002)
27,500 (5,000) (5,800) (5,800)
Revised forecast (B) 27,500 (4,600) (5,400) (9,300)
Increase(Decrease) (B-A) - 400 400 (3,500)
% Change - - - -
1st Half of FY2001 Actual 56,163 8,999 8,186 5,242

II. Revised forecasts for FY2002


 1. Consolidated forecast for FY2002, ending March 31, 2003

(Millions of yen, %)
  Net Sales(Loss) Operating Income(Loss) Ordinary Income(Loss) Net Income(Loss)
Previous forecast (A)
(as of April 25, 2002)
102,000 (2,000) (5,500) (6,000)
Revised forecast (B) 102,000  0 (3,500) (8,000)
Increase(Decrease) (B-A) - 2,000 2,000 (2,000)
% Change - - - -
FY2001 Actual 131,578 7,585 4,945 2,566
 
2. Non-consolidated forecast for FY2002, ending March 31, 2003

(Millions of yen, %)

  Net Sales(Loss) Operating Income(Loss) Ordinary Income(Loss) Net Income(Loss)
Previous forecast (A)
(as of April 25, 2002)
63,000 (5,500) (6,500) (6,500)
Revised forecast (B) 63,000 (4,000) (5,000) (8,900)
Increase(Decrease) (B-A) - 1,500 1,500 (2,400)
% Change - - - -
FY2001 Actual 91,026 4,951 5,171 3,542
(Note) Anritsu Corporation is planning to separate the Industrial Automation segment and transfer the business to a wholly-owned subsidiary of Anritsu Corporation, on July 1, 2002.
 
III. Reasons for the Revision
 
 As announced in the "Notification of Reform of Management Organization" dated March 12, 2002, in tandem with the structural employment reforms currently under way at the Anritsu Group to strengthen management, Anritsu implemented an early retirement program in May 2002. As a result, approximately 310 regular employees are expected to retire, and Anritsu expects to record an extraordinary loss of approximately 3.9 billion yen in special retirement allowances (called "Transfer Support Bonuses") to be paid to the anticipated retirees in the first half of fiscal 2002. Accordingly, Anritsu has revised its consolidated and nonconsolidated forecasts for fiscal 2002.

As a result of the decrease in the number of employees upon implementation of this plan, for the fiscal year ending March 2003, Anritsu projects effective reductions of personnel expenses of 2.0 billion yen on a consolidated basis and 1.5 billion yen on a nonconsolidated basis. This effect is taken into account in above projections.

 

(Reference) Overview and Results of Early Retirement Program (Limited Time Period Measure)
 
(1) Eligibility : Regular employees aged from 45 to 59, with at least 10 years of service
(2) Application period : May 13, 2002 to May 24, 2002
(3) Retirement date : June 30, 2002 (Retirees receiving paid leave for transfer preparation (up to 6 months) at the end of the applicable period)
(4) Applicants : 312 (including 57 employees dispatched to other companies)

 

(Reference) Number of Employees as of March 31, 2002
 
Consolidated 5,220
Nonconsolidated 2,607 (excluding 334 employees dispatched to other companies)
 

 

Note: Anritsu Corporation is releasing "Results of Implementation of Early Retirement Program" simultaneously with this release.

 

(Notes)

1. The business forecast above is based on currently available information. Actual results may vary substantially from the projections above due to known or unknown risks, changes relating to uncertainties, and other factors.
2. 2. This release contains "Material Information" as specified under Article 166 of the Securities and Exchange Law of Japan. If you read the contents of this release, you or any other person with whom you share the acquired information will be deemed the primary recipients of corporate insider information and will be prohibited from purchasing, selling or making other transactions of shares or securities of Anritsu Corporation until 12 hours has elapsed from the time when this press release was issued (approximately 4:00 a.m. on May 30, 2002, Japan time).
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