Aoi Tyo Holdings Inc. Announces Delay of Financial Results Announcement for the First Quarter of Fiscal Year 2020; Retracts Earnings Guidance for the Six Months Ending June 30, 2020 and Year Ending December 31, 2020
The company announced that have not projected the impact of COVID-19 on the earnings forecasts for the fiscal year ending December 2020 the company announced on February 19, 2020. As stated above, the impact of COVID-19 is a direct factor in the postponement of filming, events, etc. Further, the disease may cause fluctuations in demand for advertising due to global economic and corporate earnings trends. It is difficult for the company to rationally calculate earnings projections at present, since no guidance has been provided regarding an outlook to an end in the spread of COVID-19. Therefore, the company has retracted former earnings forecasts for the six months ending June 30, 2020 and year ending December 31, 2020 and will make a new announcement once the company able to calculate earnings forecasts.