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Notice of Revision to Earnings Forecasts

Oct 30, 2009

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Toyobo Co., Ltd. (“Toyobo”), in view of recent earning trends, has revised downward its forecasts.
1. Revision of Forecasts
(1) Consolidated Forecasts
Six months ended September 30, 2009

Millions of Yen Yen
Net Sales Operating
Income
Ordinary
Income
Net Income Net Income per Share
Previous Forecast (A)
(Announced on May 7, 2009)
164,000 4,800 1,800 0 0
Revised Forecast (B) 155,000 3,000 1,250 (550) (0.78)
Change (B-A) (9,000) (1,800) (550) (550)
Percent Change (%) (5.5) (37.5) (30.6)
<Reference>
Six months ended
September 30, 2008
202,471 9,690 6,762 (5,605) (8.03)

(2) Consolidated Forecasts
Year ending March 31, 2010

Millions of Yen Yen
Net Sales Operating
Income
Ordinary
Income
Net Income Net Income per Share
Previous Forecast (A)
(Announced on May 7, 2009)
340,000 14,000 8,000 3,000 4.30
Revised Forecast (B) 325,000 12,000 7,500 2,500 3.43
Change (B-A) (15,000) (2,000) (500) (500)
Percent Change (%) (4.4) (14.3) (6.3) (16.7)
<Reference>
Year ended
March 31, 2009
367,271 11,229 2,059 (12,505) (17.92)

(3) Reasons for Revision

Toyobo would gain strong recovery of net sales and earnings in the second quarter of the fiscal year ending March 31, 2010. However, it would not recover operating loss of the first quarter. Toyobo expects net sales and earnings in the first half and the full year to be smaller than previous estimates and has revised its forecasts accordingly.
In the first quarter, net sales and earnings were affected by the inventory adjustments among the automotive field, and suffered from the depressed prices in industrial films. However, Toyobo would surge earnings in the second quarter as shown below. This recovery is due to cost savings as well as the expansion of sales in the automotive and LCD materials fields.

 

(Millions of Yen)
Net Sales Operating
Income
Ordinary
Income
Net Income
Forecast
(Three months ended September 30, 2009)
82,000 3,700 2,700 1,000

 

Note: Forecasts have been prepared which are based on information available at the time of the release of this report. Actual results may vary from forecasts for a variety of reasons.

For more information
Toyobo Public Relations Group
pr_g@toyobo.jp

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