Key Developments: Jtekt Corp (6473.T)

6473.T on Tokyo Stock Exchange

1,733JPY
22 Jul 2014
Price Change (% chg)

¥36 (+2.12%)
Prev Close
¥1,697
Open
¥1,709
Day's High
¥1,739
Day's Low
¥1,709
Volume
1,169,300
Avg. Vol
1,233,593
52-wk High
¥1,807
52-wk Low
¥1,177

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Latest Key Developments (Source: Significant Developments)

JTEKT announces decision of Competition Commission of Singapore
Tuesday, 27 May 2014 05:15am EDT 

JTEKT Corp:Says the company and subsidiary Koyo Singapore Bearing (Pte) Ltd. received decision issued by Competition Commission of Singapore (CCS) for infringement of Singapore's Competition Act, in relation to sale of bearings to aftermarket customers in Singapore.CCS granted immunity from financial penalties to the company and subsidiary as a result of their cooperation in the investigation.  Full Article

JTEKT to pay year-end dividend for FY 2014
Friday, 25 Apr 2014 12:20am EDT 

JTEKT Corp:To pay year-end dividend of 11 yen per share (3,761 mln yen in total), above the latest dividend forecast of 9 yen per share, for fiscal year 2014.Record date March 31 and effective date June 27.  Full Article

JTEKT to merge with subsidiary through stock swap
Monday, 24 Mar 2014 03:15am EDT 

JTEKT Corp:To merge with a 63.31 pct-owned subsidiary Koyo Sales Co., Ltd. through stock swap, on Oct. 1.One share of the subsidiary will be exchanged for 0.55 shares (1,100,000 shares in total) of the company.Koyo Sales will be dissolved after the merger.  Full Article

JTEKT announces settlement with European Commission in automotive bearings investigation
Wednesday, 19 Mar 2014 06:50am EDT 

JTEKT Corp:Reached a settlement with the European Commission for participating in activities regarding violation of European Competition Law in relation to sales of automotive bearings, for the company and European sales subsidiaries.  Full Article

JTEKT Corp raises consolidated full-year forecast for FY 2014
Sunday, 2 Feb 2014 11:20pm EST 

JTEKT Corp:Sees consolidated full-year revenue of 1,240,000 million yen for the fiscal year ending Mar. 31, 2014, compared to the previous forecast of 1,200,000 million yen.Sees operating profit of 57,000 million yen, compared to the previous forecast of 49,000 million yen.Sees ordinary profit of 61,000 million yen, compared to the previous forecast of 50,000 million yen.Sees net profit of 19,000 million yen, compared to the previous forecast of 14,500 million yen.Sees earnings per share of 55.57 yen, compared to the previous forecast of 42.41 yen.Says this is due to increased sales.FY 2014 revenue of 1,233,430 million yen and net profit of 21,150 million yen - Thomson Reuters I/B/E/S.  Full Article

JTEKT Corp to establish new subsidiary
Monday, 23 Dec 2013 08:00pm EST 

JTEKT Corp:Says establishment of a wholly owned subsidiary in Mexico in 2015.Says the new subsidiary will be engaged in manufacturing and sales of electrically-assisted power steering.  Full Article

R&I Affirms Rating on JTEKT Corp at "A"; Rating Outlook Stable
Thursday, 14 Nov 2013 01:00am EST 

Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating on JTEKT Corporation's at "A". The rating outlook is stable.  Full Article

JCR Affirms JTEKT Corporation's Rating at "A+"; Rating Outlook Stable - JCR
Friday, 8 Nov 2013 12:32am EST 

Japan Credit Rating Agency, Ltd. (JCR) reported that it has affirmed JTEKT Corporation's rating at "A+". The rating outlook is stable.  Full Article

JTEKT Corp Amends Full-year Consolidated Outlook for FY 2014
Thursday, 31 Oct 2013 12:20am EDT 

JTEKT Corp announced that it has raised its full-year consolidated outlook for revenue from JPY 1,155,000 million to JPY 1,200,000 million, operating profit from JPY 39,500 million to JPY 49,000 million, ordinary profit from JPY 40,500 million to JPY 50,000 million, and lowered its full-year consolidated outlook for net profit from JPY 21,500 million to JPY 14,500 million, and earnings per share from JPY 62.89 to JPY 42.41, for the fiscal year ending March 31, 2014. The Company raised its full-year consolidated outlook for revenue, operating profit and ordinary profit mainly due to the depreciation of yen and increase in sales of automobile parts, and lowered its full-year consolidated outlook for net profit due to the fine on violation of Anti-Monopoly Law. According to I/B/E/S Estimates, analysts on average are expecting the Company to report its full-year consolidated outlook for revenue of JPY 1,207,400 million, operating profit of JPY 49,360 million and net profit of JPY 24,800 million, for the same fiscal year.  Full Article

JTEKT Corp Amends Consolidated Mid-year Outlook for FY 2014
Tuesday, 22 Oct 2013 02:00am EDT 

JTEKT Corp announced that it has raised its consolidated mid-year outlook for revenue from JPY 575,000 million to JPY 612,000 million, operating profit from JPY 19,500 million to JPY 24,000 million and ordinary profit from JPY 21,500 million to JPY 27,000 million, but lowered the outlook for net profit from JPY 12,500 million to JPY 3,000 million and earning per share from JPY 36.56 to JPY 8.77 , for the fiscal year ending March 2014. The Company raised the outlook due to the increased sales, and lowered the net profit outlook due to the record of extraordinary loss on surcharge payment.  Full Article

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