TOKYO, Dec 13, 2016 - (JCN Newswire) - Showa Denko ("SDK"; TSE:4004) has revised its earlier forecast of consolidated business results for full-year 2016 announced on August 9, 2016 in view of the recent business trends.
Revised forecast of consolidated business results for Jan. 1 - Dec. 31, 2016
(Millions of yen, excepting profit attributable to owners of parent per share)
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Net sales Operating Ordinary Profit Profit
income income attributable attributable
to owners of to owners of
parent parent
per share (y)
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Earlier forecast (A) 670,000 30,000 23,000 9,000 63.1
(Announced on Aug. 9, 2016)
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Revised forecast (B) 670,000 36,000 30,000 12,000 84.1
(Announced on Dec. 13, 2016)
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(B) - (A) - 6,000 7,000 3,000
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Percentage of changes - 20.0% 30.4% 33.3%
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Reference
2015 results 780,958 33,672 32,225 969 6.78
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SDK consolidated every ten shares of its common stock into one share on July 1, 2016. The above numbers, both for 2016 and 2015, are calculated on the basis of the number of outstanding shares after this consolidation.
Reasons for the revision of consolidated performance forecast
Operating income in the Petrochemicals segment is expected to exceed the earlier forecast because the spread of ethylene, etc. has improved, reflecting the tight supply-demand balance in the Asian market. Operating income in the Electronics segment will also exceed the earlier forecast because shipment volumes of HD media recently have stronger tendency than the earlier forecast.
Ordinary income and profit attributable to owners of parent will exceed the earlier forecast, reflecting the increase in operating income.
Press release: www.sdk.co.jp/assets/files/english/news/2016/20161213_newsrelease1_e.pdf
Contact:
IR Office, Finance & Accounting Department
Phone: 81-3-5470-3323
Topic: Press release summary
Source: Showa Denko K.K.
Sectors: Chemicals, Spec.Chem
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