Tsubaki Nakashima : Notice of Revisions to Earnings Forecast and Dividends Forecast FY202
June 16, 2023 at 03:58 am
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June 16, 2023
Tsubaki Nakashima Co., Ltd.
Koji Hirota
Director and Representative Executive Officer CEO
(Code 6464, Prime, Tokyo Stock Exchange)
Contact for inquiries: Ikunori Morita
Phone: +81 (0)6-6224-0193
Notice of Revisions to Earnings Forecast and Dividends Forecast FY2023
Tsubaki Nakashima ("the company") hereby announces its revised earnings forecast and dividends forecast for FY2023 after considering recent trends in business performance as follows.
1. Revision to consolidated earnings forecast
Revision to consolidated earnings forecast for the six months ending June 30, 2023
(January 1, 2023 to June 30, 2023)
Sales
Operating
Profit before
Net profit for
Basic
profit
tax
the period
earnings per
attributable to
share
owners of the
parent
Million Yen
Million Yen
Million Yen
Million Yen
Yen
Previous forecast(A)
-
-
-
-
-
Revision(B)
39,000
1,200
950
250
6.29
Change(B-A)
-
-
-
-
-
Change (%)
-
-
-
-
-
(Reference)
Previous year results
38,258
1,352
1,542
399
9.84
(6/FY2022)
Revision to consolidated earnings forecast for fiscal year ending December 31, 2023
(January 1, 2023 to December 31, 2023)
Sales
Operating
Profit before
Net profit for
Basic
profit
tax
the period
earnings per
attributable to
share
owners of the
parent
Million Yen
Million Yen
Million Yen
Million Yen
Yen
Previous forecast(A)
86,000
9,000
7,700
5,400
133.89
Revision(B)
80,000
4,500
3,500
1,700
42.79
Change(B-A)
(6,000)
(4,500)
(4,200)
(3,700)
-
Change (%)
(7.0)
(50.0)
(54.5)
(68.5)
-
(Reference)
Previous year results
79,036
(9,065)
(9,648)
(9,089)
(225.35)
(12/FY2022)
Reasons for Revision:
The company has decided to disclose its consolidated earnings forecast for the six months ending June 30, 2023, based on current business performance.
1
Disclaimer:The English translation is only for reference purposes. When there is any discrepancy between original Japanese version and English translation, the original Japanese version always prevails.
As for profits, as stated in the "Notice of the Closure of Stamping parts plant in the Netherlands" released on June 16, 2023, we expect ¥1.3 billion as a deterioration in profits due to expenses associated with the plant closure and a decrease in demand.
For its consolidated earnings forecast for fiscal year ending December 31, 2023, while sales of ceramic balls, the mainstay of our growth strategy, have been steady, other sales are expected to decrease from the initial forecast due to a slow-paced recovery in automobile production, a drop in orders for machine tools worldwide, and inventory adjustments at our product suppliers.
Profit is expected to be lower than the previous forecast due to the decrease in sales and the expected loss of ¥2.5 billion associated with the plant closure and the decrease in demand, as described in the "Notice of the Closure of Stamping parts plant in the Netherlands" released on June 16, 2023.
2. Revision to dividends forecast
Annual dividends
1st Quarter-end
2nd Quarter-end
3rd Quarter-end
Year-end
Total
Yen
Yen
Yen
Yen
Yen
Previous forecast
-
-
-
-
48.00
Revision
-
13.00
-
17.00
30.00
Paid dividends in
-
-
-
-
-
FY2023
(Reference)
-
13.00
-
17.00
30.00
Results for FY2022
Reasons for Revision:
The company has revised its dividends forecast in light of the aforementioned revision to the consolidated earnings forecast for the six months ending June 30, 2023 and for the fiscal year ending December 31, 2023.
2
Disclaimer:The English translation is only for reference purposes. When there is any discrepancy between original Japanese version and English translation, the original Japanese version always prevails.
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Tsubaki Nakashima Co. Ltd. published this content on 16 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2023 07:57:04 UTC.
TSUBAKI NAKASHIMA CO., LTD. is a Japan-based company principally engaged in the manufacture and sale of precision balls, ball screws and air blowers. The Company operates through three segments. The Precision Component segment is engaged in the manufacture and sale of ball bearings, ceramic balls, cemented carbide balls, glass balls, plastic balls, carbon steel balls and other precision ball products, as well as rollers, retainers and sheet metal parts. The Linear segment is engaged in the manufacture and sale of precision ball screws, ball screws for high-load, precision miniature ball screws, caged precision ball screws, hollow shaft ball screws, precision rolled ball screws, general industrial ball screws and other ball screw products, as well as air blowers. The Others segment is engaged in the real estate leasing business.