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Forecasts for the
Year Ending March 31, 2003
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| Consolidated
net sales forecast –By
geographical segment– |
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[¥100
million] |
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Year
ended March 31, 2002
FY 2001 |
Year
ended March 31, 2003
FY 2002 |
<Actual>
1st half |
<Actual>
2nd half |
<Actual>
Total |
<Actual>
1st half |
<Forecast>
2nd half |
<Forecast>
Total |
| Total |
Sales |
1,908 |
1,759 |
3,667 |
1,920 |
1,891 |
3,811 |
| Operating
income |
25 |
6 |
31 |
42 |
59 |
101 |
| <%> |
<1.3> |
<0.3> |
<0.8> |
<2.2> |
<3.1> |
<2.7> |
| Americas |
Sales |
386 |
347 |
733 |
411 |
361 |
772 |
| Operating
income |
17 |
2 |
19 |
10 |
5 |
15 |
| <%> |
<4.4> |
<0.6> |
<2.6> |
<2.4> |
<1.4> |
<1.9> |
| Europe |
Sales |
440 |
358 |
798 |
438 |
405 |
843 |
| Operating
income |
-18 |
-45 |
-63 |
-10 |
-6 |
-16 |
| <%> |
<-4.1> |
<-12.6> |
<-7.9> |
<-2.3> |
<-1.2> |
<-1.8> |
| Asia |
Sales |
282 |
256 |
538 |
291 |
270 |
561 |
| Operating
income |
23 |
12 |
35 |
22 |
22 |
44 |
| <%> |
<8.2> |
<4.7> |
<6.5> |
<7.6> |
<8.1> |
<7.8> |
| Elimination |
Sales |
-492 |
-435 |
-927 |
-453 |
-484 |
-937 |
| Operating
income |
2 |
15 |
11 |
1 |
-5 |
-4 |
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| Asia |
Sales |
2,524 |
2,285 |
4,809 |
2,607 |
2,443 |
5,050 |
| Operating
income |
49 |
-10 |
39 |
65 |
75 |
140 |
| <%> |
<2.0> |
<-0.4> |
<0.8> |
<2.5> |
<3.0> |
<2.8> |
* The above sales and operating
income breakdown are calculated based
on the location of the distributor (i.e.
shipping division) and includes interarea
sales and transfers. Therefore, the figures
do not match the sales breakdown by customer
location. |
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| Finally, this slide
shows our forecasted operating income
by geographical segment.
In Japan, sales are forecasted to
decrease in the 2nd half of the year,
but as a result of business restructuring
activities, which will be mentioned later,
we expect to improve profitability.
The decrease in sales in the Americas
is mainly due to seasonal factors as well
as an expected decline in sales of bearings
for general industrial use.
In Europe, we were able to achieve
our business targets for the 1st half
of the year, and we expect a greater improvement
in profits in the 2nd half that will exceed
our initial plan,.
In Asia, we forecast profits to
remain flat even though we expect a decline
in sales.
Overall, operating income is expected
to recover to 3.0% in the 2nd half of
FY 2002 after hitting a low of -0.4% in
the 2nd half of FY 2001. This is just
the start of the results of our “Business
Restructuring Program” taking effect
on our profits.
This concludes the presentation
of our financial results for the 1st half
and the forecast for the full year of
FY 2002.
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