November 4, 2011
Kirin Revises Consolidated Earnings Forecasts for the Fiscal Year 2011
Tokyo, November 4, 2011—Kirin Holdings Company, Limited ("Kirin") has revised its consolidated earnings forecast for the fiscal year 2011 (previously announced on August 5, 2011), in consideration of its recent business performance and other factors, as follows:
1. Revision of consolidated earnings forecasts for the fiscal year 2011 (January 1, 2011 to December 31, 2011)
Unit: million Japanese yen
|Previously announced forecast (A)||2,110,000||144,000||138,000||52,000||¥54.06|
|New forecast (B)||2,110,000||144,000||138,000||27,000||¥28.07|
Actual results for the previous fiscal year
(fiscal year 2010)
2. Reasons for the revision
Kirin is on target to meet the revised figures for consolidated sales, consolidated operating income and consolidated ordinary income, which were contained in the revised earnings forecast announced on August 5, 2011.
However, in part as a consequence of recording ¥18,700 million for a loss on devaluation of investment securities and ¥5,100 million for a loss on impairment of fixed assets during the third quarter of the period ending December 31, 2011, Kirin has included these losses as special expenses in the full-year consolidated earnings forecast, and has revised the forecast for consolidated net income.
Note, however, that, with regard to the loss on devaluation of investment securities, the value of the loss may change or no loss may be recorded depending on the market value prevailing on December 31, 2011.
Note: Profits and losses of the Schincariol Group, acquisition of whose shares was announced in the timely disclosure on August 2, 2011, will be included from next fiscal year. Given that the effects on the period ending December 31, 2011 are immaterial, they have not been reflected in the above figures for the consolidated earnings forecast.
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