Union Tool : Notice of Revision to Consolidated Financial Forecast （183KB）

Note: 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.

	May 12, 2023
Company name:	UNION TOOL CO.
Name of Representative:	Takao Katayama, CEO
	Code No. 6278 TSE Prime
Contact:	Norimasa Kurata
	Executive Officer
	Phone: [phone]

Notice of Revision to Consolidated Financial Forecast

In light of the recent trend in our business performance, UNION TOOL CO. hereby revises consolidated financial forecast that was released on February 14, 2023, as follows.

1. Revision to Consolidated Financial Forecast
(1)	Revision to consolidated financial forecast for the first half of fiscal year ending December 31, 2023
						(January 1, 2023 - June 30, 2023)
		Net Sales		Operating Profit	Ordinary Profit	Profit Attributable		Earnings per Share
			to owners of Parent
	Previous Forecast (A)	millions of yen		millions of yen	millions of yen	millions of yen		Yen
	12,300		1,600	1,700	1,300	75.25
	Revised Forecast (B)	11,300		1,600	1,700	1,300	75.25
	Change (B-A)	-1,000		0	0	0
	Rate of Change (%)	-8.1		0.0	0.0	0.0
(Ref.) Results for the first half of	15,326		3,521	3,653	2,606	150.87
Fiscal Year Ending December
	31, 2022
(2)	Revision to consolidated financial forecast for the fiscal year ending December 31, 2023
					(January 1, 2023 - December 31, 2023)
		Net Sales		Operating Profit	Ordinary Profit	Profit Attributable		Earnings per Share
			to owners of Parent
	Previous Forecast (A)	millions of yen		millions of yen	millions of yen	millions of yen		Yen
	27,000		4,800	4,900	3,500	202.60
	Revised Forecast (B)	24,300		3,500	3,600	2,600	150.50
	Change (B-A)	-2,700		-1,300	-1,300	-900
	Rate of Change (%)	-10.0		-27.1	-26.5	-25.7
(Ref.) Results for the Fiscal Year	29,091		6,190	6,737	4,996	289.22
Ending December 31, 2022

2. Reasons for the Revision

The electronic industry experienced rapid inventory adjustments and controlling capital investment. We were affected by a drop in demand, especially for semiconductor-related products. Our inventory adjustments and declining operating rates continue due to the influence of China's economic slowdown, declining demand for PCs and smartphones in reaction to COVID-19 special demand, and a decrease in data center-related demand due to reduced capital investment. We review that the speed of demand recovery after the third quarter of FY12/2023 will be slower than expected. Therefore, we revised the full-year sales forecast downward and reduced profit items accordingly.

This revision is a recalculation based on the results of the first quarter and the latest forecasts, and we will strive to achieve the announced figures.