Notice of Revisions to the Consolidated Performance Forecast for the
Fiscal Year Ending March 31, 2008
March 31, 2008 - Ajinomoto Co., Inc. (Ajinomoto; President
& CEO: Norio Yamaguchi; Headquarters: Tokyo, Japan) announced
revisions to its consolidated performance forecast for the fiscal year
ending March 31, 2008 to reflect recent performance trends and other
factors. The new forecast replaces the one announced at the same time
that interim results were released on November 9, 2007.
Revisions to the Consolidated Performance Forecast for the Fiscal
Year Ending March 31, 2008
(April 1, 2007 - March 31, 2008)
(Millions of yen; %)
Net sales
Operating income
Ordinary
income
Net income
Previous forecast (A)
1,225,000
75,000 to 77,500
70,000 to 72,500
33,500 to 35,000
Revised forecast (B)
1,220,000
64,000
60,000
30,300
Amount of change (B-A)
-5,000
-13,500 to -11,000
-12,500 to -10,000
-4,700 to -3,200
Percentage change (%)
-0.4%
-17.4% to -14.7%
-17.2% to -14.3%
-13.4% to -9.6%
[Reference]
Results for the fiscal year ended
March 31, 2007
1,158,510
63,800
61,589
30,229
Reasons for the Revision
In the domestic food products business, operating income is expected
to fall substantially short of the previous forecast as a result of a
larger-than-expected decrease in sales volume of HON-DASHI due to a
change in pricing policy in connection with a product revision, a drop
in sales volume of frozen foods following an incident involving frozen
gyoza manufactured in China that occurred at the end of January, and
higher-than-projected raw material prices. In the overseas food
products business, operating income is expected to exceed the previous
forecast, with firm sales of seasonings and processed foods. In the
amino acids business, meeting the operating income forecast will be
difficult as a result of lower export profitability of umami seasonings
for processed food manufacturers due to a stronger currency exchange
rate for countries where export bases are located, as well as higher
raw material prices.
As a result of the above, overall consolidated net sales and income
for the fiscal year ending March 31, 2008 are expected to be below the
previous forecast, as shown above.
Note:
The performance forecast above contains
assumptions and predictions that form the basis of the Company’s plans.
Various factors could cause actual results to differ materially from
the above forecast
