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Mie Kotsu Group Holdings Inc Amends Consolidated Mid-year Forecast for FY 2013; Expects Extraordinary Loss and Profit for Q3 of FY 2013; Acquires Shares of Associated Company


Tuesday, 30 Oct 2012 02:20am EDT 

Mie Kotsu Group Holdings Inc announced that it has lowered the consolidated mid-year forecast for revenue from JPY 42,000 million to JPY 41,300 million, but raised the forecast for operating profit from JPY 600 million to JPY 1,080 million, ordinary profit from JPY 200 million to JPY 900 million, net profit from JPY 100 million to JPY 590 million and earning per share from JPY 1.14 to JPY 6.70 for the fiscal year ending March 31, 2013. The Company raised the consolidated mid-year outlook for operating profit, ordinary profit and net profit due to decreased costs. The Company expects JPY 485 million extraordinary loss on pension issue for the third quarter of the fiscal year ending March 31, 2013. The Company has acquired 10,000 shares of an associated company, on October 30, 2012. After the transaction, the Company holds 82,830 shares (41.68% stake) of the associated company, up from 72,830 shares (36.64% stake). The Company expects JPY 600 million extraordinary profit on negative goodwill for the transaction for the third quarter of the fiscal year ending March 31, 2013. 

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