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Sato Sho-Ji Corp Announces Settlement of Lawsuit; Expects Extraordinary Loss for Q2 of FY 2014; Raises Consolidated Mid-year and Full-year Guidance for FY 2014


Wednesday, 23 Oct 2013 04:00am EDT 

Sato Sho-Ji Corp announced that it has come to a settlement with a Japan-based company, regarding a lawsuit the Japan-based company filed against the Company on February 14, 2011. The Company has agreed to pay JPY 200 million to the Japan-based company by November 29, 2013. They will share lawsuit expenses. The Company expects JPY 200 million extraordinary loss on settlement of lawsuit for the second quarter of the fiscal year ending March 31, 2014. The Company has raised the consolidated mid-year guidance for revenue from JPY 79,500 million to JPY 85,200 million, operating profit from JPY 950 million to JPY 1,330 million, ordinary profit from JPY 1,000 million to JPY 1,470 million, net profit from JPY 600 million to JPY 820 million and earning per share from JPY 27.54 to JPY 37.63 for the fiscal year ending March 31, 2014. The Company has also raised the consolidated full-year guidance for revenue from JPY 163,000 million to JPY 170,000 million, operating profit from JPY 2,610 million to JPY 2,750 million, ordinary profit from JPY 2,770 million to JPY 2,900 million, net profit from JPY 1,700 million to JPY 1,750 million and earning per share from JPY 78.03 to JPY 80.31 for the fiscal year ended March 31, 2014. The Company raised the consolidated mid-year and full-year outlook due to increased demand and decreasing value of yen. 

Company Quote

743.0
8.0 +1.09%
19 Sep 2014