Nichicon Corp. Falls Behind Forecast According to BAC Report06 Dec 2011 • by Natalie Aster
LONDON – Financial results for the six months ended of Nichicon Corporation show a noticeable lag between actual numbers and previous forecast. And this difference does not favor Nichicon: some accounts state twice less numbers than expected.
While net sales, operating income and ordinary income stay within planned limits, other main indices drop back. Thus, net income equaled JPY 1011 M instead of JPY 1700 M, and net income per share was JPY 14.15 instead of JPY 23.8. These results combined with overall company performance forced the management to revise forecasts for FY ending March 2012.
Old forecast predicted (in million JPY):
Net sales 120000
Operating income 5600
Ordinary income 5600
Net income 3700
Net income per share (yen) 51.79
According to new forecast, main indicators will account (in million JPY):
Net sales 118000
Operating income 4500
Ordinary income 4300
Net income 1800
Net income per share (yen) 25.2
Company financial performance is adverse. In September 2011 net income fell below zero point, while revenue did not show any significant changes. FY ended March 2011 brought improvement in Nichicon financials, with revenue and net income reaching JPY 105914 M and JPY 2618 M respectively. If comparing these results with new forecast, a higher revenue and lower net income is expected in 2012.
Founded in 1950 and headquartered in Kyoto (Japan), Nichicon Corporation engages in production and distribution of various capacitors for electronics and applied machinery, electric equipment, and circuit products. Main sale markets besides Japan are Malaysia, Singapore, Hong Kong, China, Korea, Thailand, Taiwan, Europe and the United States.
Get full info on the company’s business profile, financial summary, future opportunities and more from the report “Nichicon Corp. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: Nichicon Corp. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Dec, 2011
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