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NEC Electronics Announces Financial Targets
KAWASAKI, Japan, July 24, 2003 -
NEC Electronics Corporation (President: Kaoru Tosaka, Code no. 6723) today announced its financial targets for the fiscal year ending March 31, 2004 and the first semi-annual period ending September 30, 2003. Details of the targets are as follows:
Targets for the fiscal year ending March 31, 2004
(April 1, 2003 to March 31, 2004)
<Consolidated basis>
(Millions of yen)
| |
Fiscal Year ending
March 31, 2004 (targets)
|
Fiscal Year ended
March 31, 2003 (actual) |
| |
% of
net sales
|
% of change
(YoY)
|
|
% of
net
sales |
| Net sales |
705,000 |
100.0 |
97.2 |
725,093 |
100.0 |
| Income (loss) before income taxes |
44,000 |
6.2 |
291.6 |
15,090 |
2.1 |
| Net income (loss) |
26,000 |
3.7 |
270.2 |
9,622 |
1.3 |
| Net income per share (yen) |
210.53 |
96.22 |
<Non-consolidated basis>
(Millions of yen)
| |
Fiscal Year ending
March 31, 2004 (targets)
|
Fiscal Year ended
March 31, 2003 (actual) |
| |
% of
net
sales
|
% of
change
(YoY)
|
|
% of
net
sales |
| Net sales |
560,000 |
100.0 |
- |
221,362 |
100.0 |
| Ordinary Income (loss) |
21,500 |
3.8 |
- |
3,909 |
1.8 |
| Net income (loss) |
12,500 |
2.2 |
- |
1,784 |
0.8 |
| Net income per share (yen) |
101.21 |
17.84 |
| Dividends per share (yen) |
20 |
- |
Notes:
| 1. |
NEC Electronics Corporation was established on November 1, 2002 through
a corporate separation of certain operations of NEC Corporation. The above
figures of consolidated financial results for the fiscal year 2002 (April
1, 2002 to March 31, 2003) are prepared in accordance with U.S. GAAP SFAS
87. |
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| 2. |
The non-consolidated results are solely for the five-month period between
the November 1 establishment of NEC Electronics Corporation and the March
31, 2003 fiscal year-end. |
| |
|
| 3. |
The consolidated net income per share for the fiscal year ended March
31, 2003 has been calculated assuming that the 100,000,000 shares issued
upon the establishment of the company were outstanding at the beginning
of the fiscal year. The non-consolidated net income per share for the fiscal
year ended March 31, 2003 has been calculated based on the average number
of outstanding shares during the five-month period between November 1, 2002
and March 31, 2003. |
| |
|
| 4. |
The consolidated and non-consolidated target net income per share for
the fiscal year ending March 31, 2004 are based on the 123,500,000 shares
that will have been issued by the end of the same fiscal year including
the newly offered shares. |
Targets for the first half of this fiscal year (the six month period ending September 30, 2003)
<Consolidated basis>
(Millions of yen)
| |
Six months ending
September 30, 2003 (targets) |
| |
% of net sales
|
% of change
(YoY) |
| Net sales |
340,000 |
100.0 |
- |
| Income (loss) before income taxes |
16,000 |
4.7 |
- |
| Net income (loss) |
10,000 |
2.9 |
- |
<Non-consolidated basis>
(Millions of yen)
| |
Six months ending
September 30, 2003 (targets) |
| |
% of net sales
|
% of change
(YoY) |
| Net sales |
270,000 |
100.0 |
- |
| Ordinary income (loss) |
6,400 |
2.4 |
- |
| Net income (loss) |
3,700 |
1.4 |
- |
Dividends per share
(yen)
|
- |
Note: This press release contains forward-looking statements. The targets set forth in this press release are targets that the company will strive to achieve. They are based on management's estimates and assumptions and are subject to various risks and uncertainties. Actual results may be different from these targets. You should not put undue reliance on forward-looking statements.
The contents of this press release are the same as the ones of the release announced on June 16, 2003 with the same title.
***
This press release does not represent a solicitation to purchase securities in the U.S. issued by the company. The solicitation and sale of securities issued by the company are not permitted in the U.S., other than in cases where the securities have been registered under the U.S. Securities Act of 1933 or have been exempted from the registration requirement. An English-language prospectus will be prepared in cases where securities are to be offered in the U.S. The prospectus will contain detailed information on the issuing company and its management team, as well as financial statements. NEC Electronics has no intention of registering these securities for sale in the U.S.
Information in the press releases, including product prices and
specifications is current on the date of the press announcement,
but is subject to change without prior notice.
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