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December 18, 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 July 31, 2002. |
I. Revised forecasts for FY2002 |
1. Consolidated forecast for FY2002, ending March 31, 2003 |
| (Millions of yen, %) |
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Net sales |
Operating income(loss) |
Ordinary income(loss) |
Net income(loss) |
Previous forecast (A)
(as of July 31, 2002) |
91,500 |
(3,500) |
(7,500) |
(17,000) |
| Revised forecast (B) |
80,000 |
(12,000) |
(16,000) |
(31,000) |
| Increase(Decrease) (B-A) |
(11,500) |
(8,500) |
(8,500) |
(14,000) |
| % Change |
-12.6 |
- |
- |
- |
| 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(loss) |
Ordinary income(loss) |
Net income(loss) |
Previous forecast (A)
(as of July 31, 2002) |
56,000 |
(7,500) |
(8,500) |
(15,000) |
| Revised forecast (B) |
44,000 |
(13,000) |
(14,500) |
(27,000) |
| Increase(Decrease) (B-A) |
(12,000) |
(5,500) |
(6,000) |
(12,000) |
| % Change |
-21.4 |
- |
- |
- |
| FY2001 Actual |
91,026 |
4,951 |
5,171 |
3,542 |
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(Note) Anritsu Corporation has separated the Industrial Automation
segment and succeed the business to Anritsu Industrial Solutions Co.,
Ltd., a wholly-owned subsidiary of Anritsu Corporation, on July 1, 2002.
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| II. Reasons for the Revision |
The reasons for the revision of the financial results for the fiscal
year ending March 31, 2003 are as follows.
1. Due to worsening financial conditions and business results of
information and communications-related companies against the backdrop of
a prolonged downturn in the IT sector, it is difficult to predict trends
in orders both in Japan and overseas, particularly for the fourth
quarter and thereafter. In these circumstances, there continue to be no
indications of a recovery in demand for measuring devices for optical
and digital communications, and despite steady performance, sales of
measuring instruments for mobile communications will be less than the
previous projection. Because of these and other factors, the likelihood
has become stronger that net sales will be substantially below the
previous forecast.
2. In this extremely challenging business environment, an early market
recovery cannot be expected, even in the next fiscal year and
thereafter. Consequently, the Anritsu Group has concluded that it has no
alternative but to implement emergency management restructuring measures
to strengthen competitiveness and streamline its organization to
correspond to the scale of its business. As a measure to reduce fixed
expenses, the Anritsu Group has decided on a policy of implementing a
special outplacement support program, and has entered into discussions
with its labor union for implementation during the current fiscal year.
The details of the program, including estimated number of
personnel, remain undecided pending the results of the discussions with
the labor union, and will be announced separately as soon as they are
finalized. The additional amount of extraordinary loss in connection
with the implementation of the special outplacement support program is
currently expected to be equal to or greater than the early retirement
program implemented during the first half of the fiscal year, and is
taken into account in the forecast figures above.
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| III. Management Restructuring Measures |
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In addition to the above special
outplacement support program, the following management restructuring
measures are scheduled to be implemented. |
| 1. |
Streamlining through organizational
revisions |
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Streamlining of head office staff
divisions |
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Revision of internal company system |
| 2. |
Raise earnings capability through
integration of manufacturing divisions within the Anritsu Group |
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(1) |
Integrate Anritsu's Test and
Measurement manufacturing divisions into a subsidiary |
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Consolidate and integrate the manufacturing
divisions of Photonic Measurement Solutions and Wireless Measurement
Solutions, the Company's Test and Measurement business divisions,
into subsidiary Tohoku Anritsu Co., Ltd. |
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(2) |
Downsize Components and Devices
manufacturing divisions |
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Downsize Advanced Components, the Company's
Components and Devices business division. |
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Factory closedown at production subsidiary Onomichi
Anritsu Co., Ltd. |
| 3. |
Raise management efficiency by moving
the head office |
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Transfer and integrate head office
functions at the Atsugi Plant. |
| 4. |
Improve finances through sale of assets |
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Sell Company-held real estate assets
including head office building. |
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IV. Business Policies |
| By implementing the above management
restructuring measures, Anritsu will establish a management base for
profitability in the next fiscal year and thereafter. In addition,
through thorough execution of the following business policies,
Anritsu will work to expand its corporate value. |
| 1. |
Further strengthen Internet Protocol (IP)
communication analyzer in accordance with the promotion of IP in
communications. |
| 2. |
Firmly maintain the global number-one position in
measuring instruments for third-generation (3G) mobile
communications by decisively capturing the initial rise in the
market. |
| 3. |
Expand image transmission systems business. |
| 4. |
Promote business alliances with operating system
businesses. |
| 5. |
Expand business with China and other developing
countries. |
| 6. |
Transform Anritsu into an "Intelligent Solutions
Provider" centered on the creation of new "business models" and new
"customer values". |
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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 Oct. 31, 2002) |
Revised
forecasts(B) |
Increase(Decrease)
(B-A) |
FY2001 Actual |
| Net Sales |
91,500 |
80,000 |
(11,500) |
-12.6% |
131,578 |
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| Information and Communications |
11,500 |
10,500 |
(1,000) |
-8.7% |
18,309 |
| Test and Measurement |
62,000 |
52,000 |
(10,000) |
-16.1% |
88,575 |
| Components and Devices |
1,500 |
1,500 |
- |
- % |
8,605 |
| Industrial Automation |
12,500 |
12,000 |
(500) |
-4.0% |
12,342 |
| Services & Others |
4,000 |
4,000 |
- |
- % |
3,744 |
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(Notes) |
| 1. |
As the figures mentioned above are based on the
recent information, actual results may vary substantially from
projections above due to known or unknown risks, uncertainties
relating changes and others. |
| 2. |
This release contains "Material Information" as
specified under Article166 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 December 19, 2002, Japan time). |
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