Tokyo, Feb 6, 2009 - (JCN Newswire) - Showa Denko K.K. (SDK) has revised its performance forecast for full-year 2008 from the figures announced on November 6, 2008 in view of the recent economic conditions and fluctuations in foreign currency exchange rates.
1. Revised performance forecast for Jan. 1 - Dec. 31, 2008
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Consolidated Projection (Millions Yen)
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Operating Ordinary Net
Sales Income Income Income
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Earlier forecast*(A) 1,050,000 34,000 20,500 10,000
Revised forecast (B) 1,003,800 26,700 9,700 2,400
Change (B-A) -46,200 -7,300 -10,800 -7,600
Percentage Change -4.4% -21.5% -52.7% -76.0%
2007 Results 1,023,238 76,671 59,989 33,066
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Non-Consolidated Projection
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Earlier forecast*(A) 720,000 18,500 11,000 6,500
Revised forecast (B) 705,800 13,500 4,300 3,300
Change (B-A) -14,800 -5,000 -6,700 -3,200
Percentage Change -2.1% -27.0% -60.9% -49.2%
2007 Results 709,642 48,756 43,490 22,289
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* Announced on Nov. 6, 2008
2. Reasons for the revision of consolidated and non-consolidated performance
forecast for full-year 2008
As a result of the drastic economic slowdown at home and abroad, our performance has been affected by lower shipment volumes and the appreciation of the yen against the U.S. dollar.
Sales of the Petrochemicals segment will decrease from the earlier forecast due to production cuts in the second half of the year. Sales of the Electronics segment will decrease, especially in the hard disk (HD) media business, reflecting the production cutbacks in the PC industry. Sales of the Aluminum segment will decrease, mainly in the area of automotive parts, reflecting the global-scale reductions in automobile production.
About Showa Denko
Showa Denko K.K. ('SDK'; TSE: 4004, US: SHWDF) is a major manufacturer and marketer of chemical products serving a wide range of fields ranging from heavy industry to the electronic and computer industries. SDK makes petrochemicals (ethylene, propylene), aluminum products (ingots, rods), electronic equipment (hard disks for computers) and inorganic materials (ceramics, carbons). The company has overseas operations and a joint venture with Netherlands-based Montell and Nippon Petrochemicals to make and market polypropylenes. In March 2001, SDK merged with Showa Denko Aluminum Corporation to strengthen the high-value-added fabricated aluminum products operations, and is today developing next-generation optical communications-use wafers. For more information, please visit www.sdk.co.jp .
Contact:
Showa Denko
Nobuhiro Kato
nobuhiro_kato@sdk.co.jp
+81-3-5470-3235
Feb 6, 2009
Source: Showa Denko
Showa Denko (TSE: 4004) (U.S: SHWDF)
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
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