IR News｜Results

 Benesse Corporation today announced that it has raised its projected financial results on a consolidated and non-consolidated basis for the first half of FY2003 (April 1, 2003 -September 30, 2003) as follows.

1. Revised Consolidated Results for the First Half of FY2003

(Revised projection (A))
Sales : 125,860 million yen
Ordinary Income : 19,160 million yen
Net Income : 10,600 million yen

(Projection made on May 16, 2003 (B))
Sales : 124,600 million yen
Ordinary Income : 14,200 million yen
Net Income :7,900 million yen

(Change (A)-(B))
Sales : 1,260 million yen (1.0%)
Ordinary Income : 4,960 million yen (34.9%)
Net Income : 2,700 million yen (34.2%)

2. Revised Non-consolidated Results for the First Half of FY2003

(Revised projection (A))
Sales : 86,790 million yen
Ordinary Income : 18,000 million yen
Net Income : 10,400 million yen

(Projection made on May 16, 2003 (B))
Sales : 85,600 million yen
Ordinary Income :13,700 million yen
Net Income : 8,200 million yen

(Change (A)-(B))
Sales :1,190 million yen (1.4%)
Ordinary Income : 4,300 million yen (31.4%)
Net Income : 2,200 million yen (26.8%)

3.Major factors in the revisions of the financial projections
Projections were revised upward, as ordinary income and net income for the first half of FY 2003 are expected to exceed the initial projections. The revision is attributable to the fact that cost reductions have progressed faster than planned mainly in the correspondence courses operations, and profitability has improved because of the overhaul of unprofitable operations. It also reflects that postage for booklets and parcels was reduced and some anticipated costs for this first half are expected to accrue in the next half or after.

4.About FY 2003 Financial Projections
Financial projections for FY 2003 are now being compiled and will be announced on November 14, timed with the announcement of financial results for the first half of FY 2003.