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| HOME > Investor Relations> News Releases >Notification regarding discrepancies between the anticipated performance for the term ending September 30,2009 and the actual result for the same term and revision of anticipated performance for the term ending March 2010.
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October 30, 2009 |
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To: Parties concerned |
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Corporate Name: I-NET CORP.
Representative: President Shigemasa Kajimoto
(Code No. 9600 Tokyo Stock Exchange 1st Section)
Contact: Senior Manager,Finance and Accounting Department Masahiro Matsumoto
Phone #:+81-(0)45-682-0801
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Notification regarding discrepancies between the anticipated performance for the term ending September 30,2009 and the actual result for the same term and revision of anticipated performance for the term ending March 2010. |
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Discrepancies have been observed between the anticipated performance for the term ending September 30,2009 and the actual results for the same time.
In light of recent performance trends, etc, I-NET CORP. hereby announces that it has revised anticipated performance for the term ending March 2010(April 1,2009-March 31,2010),released on May 11,2009,as indicated below. |
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1. Discrepancies between the second-quarter revision of anticipated performance for the term(April 1,2009-September 30,2009) |
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(1) Revision of anticipated consolidated performance |
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(Until:￥mil.) |
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Net sales |
Operating
income
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Ordinary
income
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Net income
for the term
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| Previously announced forecast (A) |
11,880 |
280 |
180 |
25 |
| Actual result(B) |
10,628 |
203 |
124 |
3 |
| Difference (B-A) |
(1,252) |
(77) |
(56) |
(22) |
| Fluctuation rate (%) |
(10.5) |
(27.5) |
(31.1) |
(88.0) |
Performance in the previous term
(2nd Qtr March 2009 term) |
12,292 |
483 |
444 |
185 |
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(2) Revision of anticipated individual performance |
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(Until:￥mil.) |
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Net sales |
Operating
income
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Ordinary
income
|
Net income
for the term
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| Previously announced forecast (A) |
8,120 |
270 |
200 |
110 |
| Actual result(B) |
7,481 |
324 |
301 |
175 |
| Difference (B-A) |
(639) |
54 |
101 |
65 |
| Fluctuation rate (%) |
(7.9) |
20.0 |
50.5 |
59.1 |
Performance in the previous term
(2nd Qtr March 2009 term) |
8,455 |
457 |
437 |
240 |
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2. Revision of anticipated performance for the term(April 1,2009-March 31,2010) |
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(1) Revision of anticipated consolidated performance |
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(Until:￥mil.) |
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Net sales |
Operating
income
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Ordinary
income
|
Net income
for the term
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| Previously announced forecast (A) |
24,610 |
920 |
790 |
325 |
| Present revised forecast (B) |
22,130 |
620 |
670 |
280 |
| Difference (B-A) |
(2,480) |
(300) |
(120) |
(45) |
| Fluctuation rate (%) |
(10.1) |
(32.6) |
(15.2) |
(13.8) |
Performance in the previous term
(March 2009 term) |
25,385 |
1,277 |
1,168 |
415 |
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(2) Revision of anticipated individual performance |
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(Until:￥mil.) |
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Net sales |
Operating
income
|
Ordinary
income
|
Net income
for the term
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| Previously announced forecast (A) |
16,970 |
800 |
670 |
370 |
| Present revised forecast (B) |
15,560 |
720 |
710 |
410 |
| Difference (B-A) |
(1,410) |
(80) |
40 |
40 |
| Fluctuation rate (%) |
(8.3) |
(10.0) |
6.0 |
10.8 |
Performance in the previous term
(March 2009 term) |
17,097 |
1,123 |
1,012 |
483 |
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3. Reason for the revision |
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In the current second quarter the economy of Japan was supported by the domestic economic stimulus plan, resulting in economic indicators showing a partial economic recovery. However, enterprise earnings still remain at a substandard level, and no marked improvement in the investment of equipment can be seen.
Even in this type of environment, as we provide solutions for new kinds of customer needs such as enterprise continuation, information security measures and cost reduction measures, in June 2009 we were able to begin operations at the 2nd data center. We also have been proactively strengthening our relationships with client enterprises and actively seeking out new customers.
As a result, sales of our information processing services have progressed satisfactorily. However, due to the impact of order freezes, postponements, and scale reductions accompanying reductions in clients' budgets, sales of system development services have contracted at a pace greater than forecasted, and actual results did not meet the forecasted results announced on May 5, 2009. Profits too were less than previously forecasted, unable to compensate for the reduction in sales of system development services. This was in spite of having taken into account the effects of fewer outsourcing cost resulting from the self-manufacture of systems, initial cost reductions resulting from improved operational efficiency in information processing services, and reductions in selling, general and administration expenses.
The market environment facing our enterprise group will continue to pose challenges from the third quarter and beyond. We anticipate the suppression of IT investment among our client companies to continue, and as such we revise our full-year results as stated above.
In addition, anticipated annual dividend distribution will also remain unchanged at ￥20.00 as announced on May 11, 2009 (￥10.00 at interim, ￥10.00 at term-end).
<Note regarding performance Forecasts>
The above performance forecast was calculated from information available at the time; please bear in mind that actual performance may differ from the forecast figures due to various factors in the future. |
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