Sapporo Holdings expects its ordinary income and net income to be more than 30% higher than previous guidance for the fiscal year ended December 31, 2010, issued on November 30, 2010. The company has accordingly revised its consolidated earnings forecast as detailed below.
1) Revision of consolidated full-year earnings forecast for fiscal 2010 (January 1 – December 31, 2010) (millions of yen, except percentages and per-share data)
| Net sales | Operating income | Ordinary income | Net income | Net income per share (yen) | |
| Previous forecast (A) | 391,000 | 13,500 | 11,000 | 7,000 | 17.87 |
| Current forecast (B) | 389,200 | 15,400 | 14,300 | 10,700 | 27.32 |
| Change (B – A) | (1,800) | 1,900 | 3,300 | 3,700 |
|
| Percent change | (0.5)% | 14.1% | 30.0% | 52.9% |
|
| For reference: Fiscal 2009 results | 387,534 | 12,895 | 10,725 | 4,535 | 11.57 |
2) Reason for revision
Sapporo Holdings expects ordinary income of 14.3 billion yen, exceeding previous guidance of 11.0 billion yen by 3.3 billion yen, and net income of 10.7 billion yen, exceeding previous guidance of 7.0 billion yen by 3.7 billion yen.
The company expects operating income to exceed its previous forecast by 1.9 billion yen, mainly due to concentration of resources on core brands in its Japanese Alcoholic Beverages Business as well as production cost reductions. Also buoyed by a positive contribution from equity in income of affiliates and a reduction in net financial loss, Sapporo Holdings consequently expects ordinary income and net income to exceed their previous forecasts.
Sapporo Holdings