Zenrin : Notice regarding Recognition of Extraordinary Income (Gain on Sale of Investment Securities) and Revision of Forecast for Results of Operations
April 10, 2023 at 03:26 am EDT
Share
March 29 2023
FOR IMMEDIATE RELEASE
Company name:
ZENRIN Co., Ltd.
Representative:
Zenshi Takayama
President and CEO
(Securities code:
9474 TSE Prime, FSE)
Inquiries:
Yumiko Toshima
Executive Officer and Head of
Corporate Management Division
(Tel:
+81-93-882-9050)
Notice regarding Recognition of Extraordinary Income (Gain on Sale of Investment Securities)
and Revision of Forecast for Results of Operations
The sale of investment securities announced by ZENRIN Co., Ltd. (the "Company") in the "Notice regarding Sale of Investment Securities," released on February 27, 2023, is now complete, as follows.
Also, in view of the recognition of the extraordinary income from the above sale and of recent trends in results of operations, the Company announces that today it has revised the forecast of its full-year consolidated results of operations, which it announced on April 28, 2022.
1. Recognition of Extraordinary Income
(1)
Shares sold
800,000 common shares of C.E. Info Systems Ltd.
(2) Total sale price
Approx. ¥1,280 million
(3)
Gain on sale of investment securities
Approx. ¥1,220 million
(4)
Date of sale
March 28, 2023
2. Revision of Forecast of Results of Operations
Revision of Forecast Figures for Consolidated Results of Operations in Fiscal 2023 (from April 1, 2022 to March 31, 2023)
Net sales
Operating
Ordinary
Profit attributable
Net income
income
income
to owners of
per share
parent
Million yen
Million yen
Million yen
Million yen
Yen
Previous forecast (A)
60,500
3,000
3,200
2,600
48.16
Revised forecast (B)
58,600
1,550
1,750
2,150
39.87
Amount of increase
(1,900)
(1,450)
(1,450)
(450)
(decrease) (B-A)
Rate of increase
(3.1)
(48.3)
(45.3)
(17.3)
(decrease) (%)
Reference:
Results for previous
59,053
2,670
3,044
3,658
66.94
fiscal year (fiscal 2022)
(2) Reasons for Revision
The forecast of full-year consolidated results of operations is revised because net sales are expected to come in below the figure in the previously announced forecast. The key reason for this change is a decline in sales of data for car navigation systems, which in turn resulted from factors such as the impact on automotive-related sales of adjustments in automobile production levels.
In terms of profit and loss, as a result of the impact of the above decline in sales, the Company also expects each profit to fall below the previously announced forecast. The decrease in net profit attributable to owners of the parent is expected to be smaller than the decrease in operating profit and ordinary profit, due to the above-mentioned extraordinary gains.
Disclaimer
The above forecast of results of operations is prepared based on information currently available to ZENRIN Co., Ltd. as of the date of publication of this release. Actual figures for results of operations may differ from the forecast figures due to various factors in the future.
This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Zenrin Co. Ltd. published this content on 10 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 April 2023 07:25:05 UTC.
ZENRIN CO., LTD. is a Japan-based company engaged in the development and sale of map database and general printed products, as well as the related business. The Company operates in two business segments. The Map Database Related segment is engaged in the manufacture and sale of house atlas, applied maps, house map database, map data for Internet service, data for car navigation, as well as the provision of services for smart phones. The General Printing Related segment is engaged in the manufacture and sale of general printed materials. In addition, the Company is also engaged in sale of purchased products, the editing and sending of direct mails, as well as the marketing solutions business.
Zenrin : Notice regarding Recognition of Extraordinary Income (Gain on Sale of Investment Securities) and Revision of Forecast for Results of Operations