TOKYO -- (Marketwire) -- 01/31/12 --
January 31, 2012
Company Name: ALL NIPPON AIRWAYS CO., LTD.
President and CEO: Shinichiro Ito
(Code Number: 9202, First Section of the Tokyo Stock Exchange
and the Osaka Securities Exchange)
Contact: Director, General Administration, Yasuo Tanji
(TEL: 3-6735-1001)
Notification of Revision to Full Financial Year Performance Forecast
and Draw-Down of Deferred Tax Assets
The Company hereby announces a revision to the full financial year
performance forecast for FY2011 (April 1, 2011 to March 31, 2012)
previously announced in its statement of consolidated financial results
dated October 28, 2011.
1. Revision to the Performance Forecast
(1) Revision to full financial year consolidated performance
forecast for FY2011 (April 1, 2011-March 31, 2012)
Operating Operating Recurring Net Net Income
Revenues Income Profit Income per Share
Billion Billion Billion Billion Yen
Forecast as of October yen yen yen yen
28, 2011 (A) 1,400 70 36 20 7.97
New forecast (B) 1,400 90 56 20 7.96
Change (B-A) - 20 20 -
% Change - 28.6 55.6 -
Ref. FY2010 (Apri 1, 1,357.6 67.8 37.0 23.3 9.29
2010-March 31, 2011)
(2) Revision to full financial year non-consolidated performance
forecast for FY2011 (April 1, 2011-March 31, 2012)
Billion Billion Billion Billion Yen
Forecast as of October yen yen yen yen
28, 2011 (A) 1,240 65 32 18 7.17
New forecast (B) 1,240 82 50 18 7.16
Change (B-A) - 17 18 -
% Change - 26.2 56.3 -
Ref. FY2010 (April 1, 1,191.5 60.0 31.6 23.0 9.17
2010-March 31, 2011)
(3) Reason for Revision
While concerns remain about a downward swing in overseas economies
due to the government bond crisis in Europe, and while the flooding
in Thailand and other events have had an impact, operating revenues
have come in at close to previously planned levels, boosted in part
by the introduction of the Boeing 787 aircraft and the success of
measures to stimulate demand on the sales and marketing side. The
forecast for revenue has thus been left unchanged from the
previously announced forecast.
In operating expenditures, meanwhile, approximately 30.0 billion
yen in mergency cost improvement measures for the full fiscal year
are being implemented as planned in response to the sudden drop in
demand caused by the earthquake. In addition, progress has been
made in reducing expenses, as a portion of the cost restructuring
that was due to take place beginning in the next fiscal year was
moved up. As a result, both operating income and recurring profit
are expected to increase by approximately 20.0 billion yen.
Net income is expected to remain unchanged from the previous
forecast, at 20.0 billion yen, due to a partial write-off of
deferred tax assets etc., following the official announcement of
the Act Related to a Reduction in Corporate Tax Rates.
Note that these forecasts assume a US dollar/yen exchange rate of 80
yen, a market price for Dubai Crude Oil, a key benchmark for
aviation fuel prices, of USD 105/barrel, and a price for Singapore
jet kerosene of USD 125/barrel.
2. Write-off of Deferred Tax Assets
As a result of the December 2, 2011 official announcement of the Act
Related to a Reduction in Corporate Tax Rates, the Company writes
off a portion of its deferred tax assets, with 10.0 billion yen for
the full fiscal year on a consolidated basis (8.0 billion yenon a
non-consolidated basis) to be booked as an adjustment for corporate
taxes, etc.
Note: This forecast of business performance has been prepared based on
all information available at the time of publication.Final
performance may differ from forecast figures due to a variety of
factors going forward.
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
Contacts:
RNS Customer Services
0044-207797-4400
Email Contact
http://www.rns.com
© 2012 Marketwired
