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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)

[Non-consolidated]
(¥ million)
  Sales Operating
income
Ordinary
income
Net income
Previous forecasts (A) 74,000 51,000 56,000 50,000
Revised (B) 74,000 53,000 47,000 27,000
Change (B—A) 2,000 Δ9,000 Δ23,000
Change (%) 3.9 Δ16.1 Δ46.0
[For reference: Consolidated]
(¥ million)
  Sales Operating
income
Ordinary
income
Net income
Previous forecasts (A) 2,320,000 145,000 118,000 104,000
Revised (B) 2,300,000 145,000 103,000 80,000
Change (B—A) Δ20,000 Δ15,000 Δ24,000
Change (%) Δ0.9 Δ12.7 Δ23.1
(For reference)
Previous results for year ended December 31, 2007
1,801,164 120,608 123,389 66,713

2. Reasons for revisions

(1) Non-consolidated
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.
(2) Consolidated
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.

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© 2007 Kirin Holdings Company, Limited.

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