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Nippon Conveyor Co Ltd Expects Extraordinary Loss and Lowers Full-year Consolidated Outlook for FY 2013; Cancels Year-end Dividend Payment for FY 2013


Tuesday, 28 May 2013 02:00am EDT 

Nippon Conveyor Co Ltd announced that it expects the extraordinary loss of JPY 70 million caused by provision of allowance for doubtful accounts, for the fiscal year ended March 31, 2013. The Company has lowered its full-year consolidated outlook for revenue from JPY 10,000 million to JPY 9,000 million, operating profit from JPY 100 million to JPY 5 million, ordinary profit from JPY 100 million to JPY 90 million, net profit (loss) from JPY 20 million to JPY (70 million), and earnings per share from JPY 0.32 to JPY (1.12), for the fiscal year ended March 31, 2013. The Company lowered its full-year consolidated outlook mainly due to the cancellation of transaction with another company, increase in cost for multistory parking lot project and extraordinary loss caused by provision of allowance for doubtful accounts. The Company also has canceled its year-end dividend payment, which was announced as an undetermined value on February 8, 2013, for the same fiscal year. 

Company Quote

159.0
-6.0 -3.64%
2:00am EDT