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Benesse Revises Fiscal 2008 Earnings Forecasts
Benesse Holdings, Inc.
Release Date : 2008/10/30
Benesse Corporation has revised its consolidated and non-consolidated earnings forecasts for the fiscal 2008 (April 1, 2008 to March 31, 2009) announced on April 30, 2008, as follows, in light of recent business performance.
Consolidated projection for the FY2008
Reasons for Revisions
(1) Consolidated
Benesse is now forecasting higher-than-planned net sales, operating income and ordinary income due to a number of factors. These include slightly better-than-expected enrollment in its core correspondence course business and a strong performance in the language business, centered on Europe, at consolidated subsidiary Berlitz International, Inc. However, Benesse no longer expects to achieve its initial net income forecast for the FY2008 due to the booking of a goodwill amortization charge under special losses related to the share value impairment of its shareholding in consolidated subsidiary Tokyo Individualized Educational Institute, Inc. (stock code: 4745; 1stSection, Tokyo Stock Exchange).
(2) Non-consolidated
Benesse is now forecasting higher-than-planned net sales, operating income and ordinary income due to a number of factors. These include better-than-expected enrollment in its core correspondence course business. However, Benesse no longer expects to achieve its net income forecast for the FY2008 due to the booking of a loss on devaluation of subsidiaries and affiliates under special losses. This reflects a sharp decline in the market value of Benesse’s shareholding in consolidated subsidiary Tokyo Individualized Educational Institute, Inc. (stock code: 4745; 1stSection, Tokyo Stock Exchange).
Note:
Earnings forecasts are based on information currently available to management and on certain assumptions considered reasonable. Actual results could differ substantially from forecasts due to a variety of factors.
Consolidated projection for the FY2008
|
Net |
Operating |
Ordinary |
Net |
Net | |
|
|
(Millions of |
(Millions of |
(Millions of |
(Millions of |
(Yen) |
| Projection announced on April 30 (A) |
408,200 |
37,200 |
37,800 |
20,200 |
198.34 |
| Revised Projection (B) |
414,000 |
38,500 |
38,700 |
13,400 |
133.38 |
| Difference (B-A) |
5,800 |
1,300 |
900 |
(6,800) |
――― |
| Difference (%) |
1.4 |
3.5 |
2.4 |
(33.7) |
――― |
| Reference:Results for the FY2007 |
384,514 |
34,882 |
35,920 |
15,462 |
151.54 |
Non-consolidated projection for the FY2008
|
Net |
Operating |
Ordinary |
Net |
Net | |
|
(Millions of |
(Millions of |
(Millions of |
(Millions of |
(Yen) | |
| Projection announced on April 30 (A) | 238,000 | 28,200 | 29,800 | 19,200 | 188.52 |
| Revised Projection (B) |
242,500 |
29,000 |
30,200 |
11,600 |
115.46 |
| Difference (B-A) |
4,500 |
800 |
400 |
(7,600) |
――― |
| Difference (%) |
1.9 |
2.8 |
1.3 |
(39.6) |
――― |
| Reference:Results for the FY2007 |
226,382 |
24,437 |
26,270 |
8,103 |
79.42 |
Reasons for Revisions
(1) Consolidated
Benesse is now forecasting higher-than-planned net sales, operating income and ordinary income due to a number of factors. These include slightly better-than-expected enrollment in its core correspondence course business and a strong performance in the language business, centered on Europe, at consolidated subsidiary Berlitz International, Inc. However, Benesse no longer expects to achieve its initial net income forecast for the FY2008 due to the booking of a goodwill amortization charge under special losses related to the share value impairment of its shareholding in consolidated subsidiary Tokyo Individualized Educational Institute, Inc. (stock code: 4745; 1stSection, Tokyo Stock Exchange).
(2) Non-consolidated
Benesse is now forecasting higher-than-planned net sales, operating income and ordinary income due to a number of factors. These include better-than-expected enrollment in its core correspondence course business. However, Benesse no longer expects to achieve its net income forecast for the FY2008 due to the booking of a loss on devaluation of subsidiaries and affiliates under special losses. This reflects a sharp decline in the market value of Benesse’s shareholding in consolidated subsidiary Tokyo Individualized Educational Institute, Inc. (stock code: 4745; 1stSection, Tokyo Stock Exchange).
Note:
Earnings forecasts are based on information currently available to management and on certain assumptions considered reasonable. Actual results could differ substantially from forecasts due to a variety of factors.