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Daiwa Co Ltd to Sell Properties and Expects Extraordinary Losses for FY 2013; Amends Full-year Consolidated Outlook for FY 2013


Monday, 25 Feb 2013 01:30am EST 

Daiwa Co Ltd announced that it has decided to sell an Ishikawa-based property, at the price of JPY 420 million in November 2013, as well as a Toyama-based property at the price of JPY 110 million to a Japan-based company in late March 2013. As a result, the Company expects the extraordinary losses of JPY 1,004 million and JPY 144 million caused by loss on sale of properties, for the fiscal year ending February 2013. The Company also announced that it has lowered its full-year consolidated outlook for revenue from JPY 52,000 million to JPY 50,800 million, net profit (loss) from JPY 100 million to JPY (520 million), and earnings (loss) per share from JPY 3.56 to JPY (18.50), and raised its full-year consolidated outlook for operating profit from JPY 420 million to JPY 550 million, ordinary profit from JPY 270 million to JPY 480 million, for the fiscal year ending February 28, 2013. The Company lowered its full-year consolidated outlook for net profit mainly due to the extraordinary losses for sale of properties, and raised its full-year consolidated outlook for operating profit and ordinary profit mainly due to the increase in gross income on sales of department business and cost reduction. 

Company Quote

154.0
7.0 +4.76%
28 Jul 2014