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| April 14,2003 |
| Mitsubishi Rayon Co., Ltd. |
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| Revised Estimates of Business Performance |
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| In response to recent developments in the Company’s
business performance, we have revised our forecasts of business
results for fiscal 2002, ended March 31, 2003, which were released
on November 13, 2002. The revised estimates are shown below. |
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| 1. Estimates of business results
on a consolidated basis for the term ended March 31, 2003 |
| millions of yen |
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| |
Net sales |
Operating income |
Ordinary income |
Net income
(loss) |
Previous forecast
(A)
(Released
Nov. 13, 2002)
|
300,000
|
20,000
|
16,500
|
8,000 |
| Revised estimate
(B) |
303,000 |
20,000 |
16,500 |
6,000 |
Increase (decrease)
(B-A) |
3,000 |
0 |
0 |
(2,000) |
| Percentage change |
1.0 |
- |
- |
(25.0) |
Figure for
previous term
(to
March 31, 2002) |
306,455 |
19,207 |
14,695 |
(964) |
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| 2. Estimates of business results
on a non-consolidated basis for the term ended March 31,
2003 |
| millions of yen |
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| |
Net sales |
Operating income |
Ordinary income |
-Net
income
(loss) |
Previous forecast
(A)
(Released
Nov. 13, 2002)
|
192,000
|
14,000 |
11,000
|
5,000 |
| Revised estimate
(B) |
193,000 |
13,240 |
11,060 |
2,700 |
Increase (decrease)
(B-A) |
1,000 |
(760) |
60 |
(2,300) |
| Percentage change |
0.5 |
(5.4) |
0.5 |
(46.0) |
Figure for
previous term
(to
March 31, 2002) |
211,255 |
13,402 |
13,144 |
185 |
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| 3. Reasons for revised estimates |
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--Ordinary income
on both a consolidated and non-consolidated basis for the reporting
period is expected to be as per the projections announced on
November 13, 2002. Net income for the term under review, however,
is expected to fall short of target by a wide margin, mainly
as a result of two factors; i.e. 1) the registration of extraordinary
losses (approximately 1,900 million yen on a non-consolidated
basis) resulting from the downscaling of certain operations
and the spinning off of others as part of the Company's overall
policy of corporate restructuring, principally in the field
of fibers; and 2) changes in taxation rates resulting from
the introduction of the new uniform basis for the levying of
taxes.
--Note: Please
note that the above estimates are based on
information available to the Company at the
present time, and may differ from actual
results. |
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| For further informaiton,please contact
to: |
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Mitsubishi Rayon Co.,Ltd.
Public & Investor Relations Office: |
e-mail : koho@mrc.co.jp |
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