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Hodogaya Chemical Co Ltd Lowers Consolidated Full-year Outlook for FY 2013; Lowers Year-end Dividend Forecast for FY 2013; Announces Merger of Subsidiaries

Wednesday, 7 Nov 2012 02:00am EST 

Hodogaya Chemical Co Ltd announced that it has lowered the consolidated full-year outlook for revenue from JPY 39,000 million to JPY 35,300 million, operating profit from JPY 2,400 million to JPY 800 million, ordinary profit from JPY 1,900 million to JPY 300 million, net profit (loss) from JPY 1,200 million to JPY (1,200 million) and earning (loss) per share from JPY 15.17 to JPY (15.17) for the fiscal year ending March 31, 2013. The negative outlook is mainly due to less-than-expected demands for electronics material. The Company has also lowered the year-end dividend forecast from JPY 4 per share, disclosed on May 14, 2012, to JPY 2 per share, for the fiscal year ending March 31, 2013. The Company also announced that two of its subsidiaries, Hodogaya Chemical Co.,Ltd. and Nippon Peroxide Co., Ltd. will be merging with each other. After this, Hodogaya Chemical Co.,Ltd. will be the surviving company and Nippon Peroxide Co., Ltd. will be dissolved. The transition will take effective in October 2013. 

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24 Oct 2014