Wellco Holdings Corp to Sell Property; Expects Extraordinary Loss and Amends Consolidated Full-year Outlook for FY Ending October 2012

Wellco Holdings Corp announced that it will sell a property located in Kumamoto, Japan, at the price of JPY 100 million in total, effective September 10, 2012. As a result, the Company expects to record JPY 70 million loss on sale of fixed assets as extraordinary loss for the fiscal year ending October 2012. Therefore, the Company lowered its consolidated full-year outlook for revenue from JPY 16,410 million to JPY 16,160 million, net profit from JPY 1,970 million to JPY 1,710 million and earning per share from JPY 79.92 to JPY 69.38, and raised its consolidated full-year outlook for operating profit (loss) from JPY (400 million) to JPY (300 million), ordinary profit (loss) from JPY (310 million) to JPY (280 million), for the fiscal year ending October 31, 2012.