Notice Regarding Revision of Full-Year Earnings Forecasts for Fiscal Year Ending November 30, 2016

Note: This English document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translation and the Japanese original, the Japanese original shall prevail.
Tosei Corporation assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

To whom it may concern

October 5, 2016

Tosei Corporation
Toranomon Tosei Building, 4-2-3 Toranomon, Minato-ku, Tokyo
President and CEO: Seiichiro Yamaguchi
Securities code: 8923 (Tokyo Stock Exchange, First Section)
S2D (Singapore Exchange, Mainboard)
Contact: Director and CFO: Noboru Hirano
TEL: +81-3-3435-2865

Notice Regarding Revision of Full-Year Earnings Forecasts for Fiscal Year Ending November 30, 2016

Tosei Corporation (the "Company") hereby announces that it decided at a meeting of its Board of Directors held today to revise its full-year earnings forecasts for the fiscal year ending November 30, 2016 (December 1, 2015 to November 30, 2016). The details are as follows.

  1. 1.Consolidated Earnings Forecasts Revision for Fiscal Year Ending November 30, 2016 (December 1, 2015 to November 30, 2016)
     Revenue
    (\ million)
    Operating profit
    (\ million)
    Profit before tax
    (\ million)
    Profit
    attributable to
    owners of the parent
    (\ million)
    Basic earnings
    per share (\)
    Previous forecasts (A)
    (Announced on July 5,2016)
    53,562 9,000 8,026 5,266 109.08
    Revised forecasts (B) 53,562 9,384 8,500 5,565 115.26
    Amount of change (B-A) 384 474 298
    Percentage change (%) 0.0 4.3 5.9 5.7
    [Reference] Results for the previous fiscal year ended Nov. 30, 2015 43,006 6,891 6,040 4,135 85.66
     
  2. 2.Non-consolidated Earnings Forecasts Revision for Fiscal Year Ending November 30, 2016 (December 1, 2015 to November 30, 2016)
     Net sales
    (\ million)
    Ordinary income
    (\ million)
    Net income
    (\ million)
    Net income per share (\)
    Previous forecasts(A)
    (Announced on July 5,2016)
    45,546 7,017 4,671 96.75
    Revised forecasts(B) 45,503 7,342 4,883 101.14
    Amount of change(B-A)
     
    (42) 325 212
    Percentage change (%) (0.1) 4.6 4.5
    [Reference]  Results for the previous fiscal year ended Nov. 30, 2015 37,242 5,553 3,906 80.91

[Reason for Revisions]

The revenue forecast has not changed from the previous forecast. On the other hand profit is expected to rise due to rise expected in gross profit margin and making efforts to reduce costs. As a result, the full-year operating profit forecast was revised to \9,384 million, an increase of \384 million, the full-year profit before tax forecast was revised to \8,500 million, an increase of \474 million, and the full-year profit for the year forecast was revised to \5,565 million, an increase of \298 million.

End

Note: The above earnings forecasts are based on information available at the time of announcement. Various subsequent factors may cause the actual performance to differ from the forecasts.