January 26, 2009
Revision of forecasts for year ended December 31, 2008
Kirin Holdings Company, Limited ("Kirin") today announced revised forecasts for the year ended December 31, 2008, based on the recent business trends. The previous forecasts for the year were announced on November 4, 2008.
1.Revision of non-consolidated forecasts (January 1, 2008 to December 31, 2008)
|Previous forecasts (A)||74,000||51,000||56,000||50,000|
|Previous forecasts (A)||2,320,000||145,000||118,000||104,000|
Previous results for year ended December 31, 2007
2. Reasons for revisions
Non-consolidated forecasts have been revised mainly by special expense because of the loss on devaluation of investments in subsidiaries, due to decline in stock prices.
Consolidated forecasts have been revised due to the following reasons and such;
- Foreign currency translation loss in yen-based group loans arranged at Kirin's consolidated subsidiary in Australia, due to the fast appreciation of the Japanese yen against the Australian dollar
- Loss due to impairment of goodwill because of the downturn in the group companies' businesses
The loss on devaluation of investments in subsidiaries mentioned as above (1) will not impact on the consolidated forecasts.