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Earnings forecasts for the year ending March 31, 2017 (FY2016)

(JPY Billion) Year Ended March 31, 2016
Full-year Results
Year Ending March 31, 2017
Full-year Forecast
Year-on-year
Change
Revenue 1,941.9 2,084.0 +7.3%
EBITDA * 232.4 251.0 +8.0%
EBITDA margin 12.0% 12.0% +0.0pt
Adjusted profit * 134.2 137.0 +2.0%
Adjusted EPS (¥) * 80.36 82.01 +2.0%

* EBITDA: operating income + depreciation and amortization ± other operating income/expenses
* Adjusted profit: profit attributable to owners of the parent ± adjustment items (**) (excluding non-controlling interests) ± tax reconciliation related to certain adjustment items
* Adjusted EPS: adjusted profit / (number of shares issued at the end of the period - number of treasury stock at the end of the period)
* Profit used as the basis for calculation of dividends: profit attributable to owners of the parent - non-recurring income/losses, etc.
** Amortization of intangible assets arising due to business combinations ± non-recurring income/losses

In line with the commencement of disclosures in accordance with IFRS from the first quarter ending June 30, 2017, the consolidated results forecast for the year ending March 31, 2018 will also be disclosed in IFRS.

Backed by a solid growth in each business, as for consolidated financial results forecast for the next fiscal year, revenue is forecast at ¥2,084.0 billion (a year on year decrease of 7.3%), operating income is forecast at ¥185.5 billion (a year on year decrease of 4.3%) due mainly to the effect of reporting a gain on sales of shares of subsidiaries and associates in the previous fiscal year, and profit attributable to owners of the parent is forecast at ¥122.0 billion (a year on year decrease of 10.3%). If the gain on sales of shares of subsidiaries and associates and other items are deducted from operating income and profit attributable to owners of the parent for the previous fiscal year, operating income is forecast to increase 8.0% year on year and profit attributable to owners of the parent to increase 4.3% year on year.

EBITDA, adjusted EPS and profit used as basis for calculation of dividends are forecast at ¥251.0 billion (a year on year increase of 8.0%), ¥82.01 (a year on year increase of 2.0%) and ¥124.0 billion (a year on year increase of 1.1%), respectively.

Revenue in the existing businesses is forecast at ¥2,084.0 billion (a year on year increase of 7.3%) and EBITDA is forecast at ¥251.0 billion (a year on year increase of 8.0%), for the year ending March 31, 2018. Although this forecast excludes the financial results of subsidiaries that will be included in the scope of consolidation from the next fiscal year through mergers and acquisitions, etc., there are currently no differences between the consolidated financial results forecast and the financial results forecast for existing businesses.

(Notes) The IFRS-based results for the year ended March 31, 2017 used to calculate year on year changes are approximates and may be changed depending on the accounting audit results.
The expected impact of the three-for-one stock split to be implemented on July 1, 2017 is reflected in the forecast for adjusted.