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July 31, 2002 |
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| Company Name |
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Anritsu Corporation |
| Code Number |
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6754 |
| Media Contact |
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Hirokazu Hashimoto |
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Director, General Manager of
Accounting Dept. |
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TEL (03) 3473 - 7429 |
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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 May 29, 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 |
Recurring Income |
Net Income |
Previous forecast (A)
(as of May 29, 2002) |
45,500 |
(4,000) |
(6,000) |
(9,900) |
| Revised forecast (B) |
39,000 |
(6,000) |
(8,000) |
(17,500) |
| Increase(Decrease) (B-A) |
(6,500) |
(2,000) |
(2,000) |
(7,600) |
| % Change |
-14.3 |
- |
- |
- |
| 1st Half of FY2001 Actual |
77,667 |
12,322 |
9,731 |
6,584 |
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| 2. Non-consolidated forecast for 1st Half of FY2002, ending
September 30, 2002 |
| (Millions of yen, %) |
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Net Sales |
Operating Income |
Recurring Income |
Net Income |
Previous forecast (A)
(as of May 29, 2002) |
27,500 |
(4,600) |
(5,400) |
(9,300) |
| Revised forecast (B) |
22,500 |
(7,000) |
(8,000) |
(15,000) |
| Increase(Decrease) (B-A) |
(5,000) |
(2,400) |
(2,600) |
(5,700) |
| % Change |
-18.2 |
- |
- |
- |
| 1st Half of FY2001 Actual |
56,163 |
8,999 |
8,186 |
5,242 |
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(Note) Anritsu Corporation has separated the Industrial Automation
segment and transfer the business to a wholly-owned subsidiary of
Anritsu Corporation, on July 1, 2002.
|
II. Revised forecasts for FY2002 |
1. Consolidated forecast for FY2002, ending March 31, 2003 |
| (Millions of yen, %) |
| |
Net Sales |
Operating Income |
Recurring Income |
Net Income |
Previous forecast (A)
(as of May 29, 2002) |
102,000 |
0 |
(3,500) |
(8,000) |
| Revised forecast (B) |
91,500 |
(3,500) |
(7,500) |
(17,000) |
| Increase(Decrease) (B-A) |
(10,500) |
(3,500) |
(4,000) |
(9,000) |
| % Change |
-10.3 |
- |
- |
- |
| FY2001 Actual |
131,578 |
7,585 |
4,945 |
2,566 |
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| 2. Non-consolidated forecast for FY2002, ending March 31,
2003 |
| (Millions of yen, %) |
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Net Sales |
Operating Income |
Recurring Income |
Net Income |
Previous forecast (A)
(as of May 29, 2002) |
63,000 |
(4,000) |
(5,000) |
(8,900) |
| Revised forecast (B) |
56,000 |
(7,500) |
(8,500) |
(15,000) |
| Increase(Decrease) (B-A) |
(7,000) |
(3,500) |
(3,500) |
(6,100) |
| % Change |
-11.1 |
- |
- |
- |
| FY2001 Actual |
91,026 |
4,951 |
5,171 |
3,542 |
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(Note) Anritsu Corporation has separated the Industrial Automation
segment and transfer the business to a wholly-owned subsidiary of
Anritsu Corporation, on July 1, 2002.
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| III. Reasons for the Revision |
The reasons for the revision financial results forecasts of the
fiscal year 2002 (ending March 31, 2003) are as follows.
1. The current, against the backdrop of the global slump in the
information technology industry, conditions remained challenging, with
restrained capital investment by companies in the telecommunications
field, which are Anritsu's main customers. Sales of measurement
equipment for mobile communications are expected to be strong supported
by solid demand centered on the W-CDMA (next-generation mobile
communications system). However, measurement equipment and devices for
digital and optical communications are expected to be severely impacted
by restrained capital investment especially high-speed and broadband
optical communications-related market in the United States. As a result,
Anritsu projects a decrease in sales.
2. At the time of Anritsu's disclosure of results of the fiscal year
2001 (ending March, 2002) on April 25, 2002, Anritsu announced that
costs of structural reforms such as reducing inventories and including
those related to the dissolution and restructuring of internal companies
were an uncertain factor that might exert an impact on its business
outlook. Anritsu now estimates that it will record a extraordinary loss
on valuation and disposal of inventories of approximately 11.5 billion
yen (9.8 billion yen on a non-consolidated basis) for the first half of
the current fiscal year.
3. In connection with the enactment of the Defined Benefit Corporate
Pension Law, Anritsu plans to
file an application in August 2002 for the return of the portion of the
employee's pension fund it holds in trust. As a result, the Company
estimates that it will record approximately 5.5 billion yen
(approximately 5.2 billion yen on a non-consolidated basis) as
extraordinary income for the first half of the current fiscal year. |
cf. Consolidated Net Sales forecast by Industry Segment for
FY2002, ending March 31, 2003 |
| (Millions of yen, %) |
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Previous
forecasts(A)
(as of April 25, 2002) |
Revised
forecasts(B) |
Increase(Decrease)
(B-A) |
FY2001 Actual |
| Net Sales |
102,000 |
91,500 |
(10,500) |
-10.3% |
131,578 |
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| Information and Communications |
13,000 |
12,000 |
(1,000) |
-7.7% |
18,309 |
| Test and Measurement |
70,000 |
61,500 |
(8,500) |
-12.1% |
88,575 |
| Components and Devices |
2,500 |
1,500 |
(1,000) |
-40% |
8,605 |
| Industrial Automation |
12,500 |
12,500 |
- |
- % |
12,342 |
| Services & Others |
4,000 |
4,000 |
- |
- % |
3,744 |
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cf. Assumed exchange rate ; 1US$=125yen (1st half) ; 1US$=115yen (2nd
half); 1Euro=110yen (full year)
(Note)
Anritsu Corporation is releasing "Financial Review for the First Quarter
Ended June 30, 2002" simultaneously with this
(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. |
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 August 1, 2002, Japan time). |
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