Chugai Mining Co., Ltd. Revises Consolidated and Non-Consolidated Earnings Guidance for the Six Months Ended September 30, 2014
November 17, 2014 at 10:20 am
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Chugai Mining Co., Ltd. revised consolidated and non-consolidated earnings guidance for the six months ended September 30, 2014. For the six months, on consolidated basis, the company now expects revenue of ¥7,437 million, operating loss of ¥232 million, recurring loss of ¥290 million, and current net loss of ¥300 or ¥1.04 per share compared to previous guidance of revenue of ¥8,500 million, operating profit of ¥120 million, recurring profit of ¥70 million, and current net profit of ¥0 or ¥0.00 per share, respectively.
For the six months, non consolidated basis, the company now expects revenue of ¥6,571 million, operating loss of ¥259 million, recurring loss of ¥296 million, and current net loss of ¥302 or ¥1.04 per share compared to previous guidance of revenue of ¥7,200 million, operating profit of ¥0 million, recurring profit of ¥0 million, and current net profit of ¥0 or ¥0.00 per share, respectively. Due to the effect or rapid movements in the prices of precious metals from overseas as well as the exchange rates, in addition to decrease in sales of jewelry goods due to reasons such as the increase in the consumption tax rate and difficulties in procurement of sufficient gold bullion against the production capacity, the could not post profit from investment transactions in the Tokyo commodity Exchange's Tokyo Gold Futures which lead to significant in the revenue, operating profit, recurring profit and current net profit from forecasted values.
Chugai Mining Co., Ltd. is principally engaged in the operation of precious metal business. The Company operates in five business segments. The Precious Metal segment is engaged in the sale of precious metals, artifacts and jewelries, the production and sale of gold, silver, platinum and palladium, as well as the purchase and sale of nonferrous metals which contain gold and silver. The Real Estate segment is involved in the subdivision and leasing of condominium buildings, as well as the trading, brokerage, leasing, management and planning development of real estate. The Machinery segment purchases and sells used machine tools, sheet metal machines and others. The Investment segment is engaged in the possession, trading and operation of securities. The Content segment plans, designs, manufactures, and sells toys and play equipment, and sells, wholesales, plans, and develops character products.