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November 8, 2011

Notification of Revision to the Dividend Forecasts and Business Forecasts

DISCO Corporation (“the Company”) has decided to revise the Company’s business forecasts and to revise its dividend forecasts for the fiscal
year ending March 31, 2012 which were announced on August 8, 2011 based on recent business performance.

1. Business Forecast Revision
Revision of consolidated business forecasts
Forecasts for the full fiscal year ending March 31, 2012
(April 1, 2011-March 31, 2012) (Millions of yen,%)
Net sales Operating income Ordinary income Net income Net income per share(yen)
Previous forecast(A) 97,100 14,200 14,300 9,100 270.16
Revised forecast(B) 89,300 10,100 10,300 6,300 186.97
(B) - (A) -7,800 -4,100 -4,000 -2,800
% change -8.0% -28.9% -28.0% -30.8%
(Reference)
Previous full-year results
99,700 15,915 17,190 10,945 325.59
Forecasts for the full fiscal year ending March 31, 2012
(April 1, 2011-March 31, 2012) (Millions of yen,%)
Net sales Operating income Ordinary income Net income Net income per share(yen)
Previous forecast(A) 81,200 9,200 11,300 7,500 222.66
Revised forecast(B) 74,200 5,700 8,200 5,300 157.29
(B) - (A) -7,000 -3,500 -3,100 -2,200
% change -8.6% -38.0% -28.0% -29.3%
Reference)
Previous full-year results
84,570 11,220 12,773 8,034 238.98
 
  Reason for the revisions

Global economic growth is currently in a significant slow down due to the prolonged European debt crisis and other factors. In DISCO Group’s main business sector, the semiconductor and electrical device industries, our customers, especially subcontract assemblers, have moved very quickly to cut their capital spending. For this reason, we have revised the business forecast for fiscal year 2011.

  Note: The above forecast of financial results is based on certain information available to the Company at the time of announcement, and actual operating results may differ from the forecast due to various factors.
2. Revised Dividend Forecasts
  Dividend per share
1Q-end 2Q-end 3Q-end Year-end Annual
Previous forecast - 27 - 28 55
Revised forecast - - - 10 39
Results for the year ending - 29 -
(Ref.)
Results for the year ending March 31, 2011
- 25 - 40 65

Reason for the revision

Based on the revised earnings forecasts mentioned above, the divided payment forecast is also revised applying our dividend policy.

DISCO's dividend policy
To improve the transparency of the Company’s stance prioritizing the return of profits to shareholders, the dividend payout ratio is set at 20% of the consolidated net income.
Note: The total amount of the interim dividend will consist of 20% of consolidated net income for the first half of the year (April-September), and that of the final dividend, of 20% of consolidated net income for the second half of the year (October-March).
However, notwithstanding this net income linked-benchmark, the Company will strive to maintain an annual dividend payment of not less than 20 yen per share as a stable base dividend.

If the four-year cumulative consolidated ratio of ordinary income to net sales is higher than 20%, a dividend payout ratio of 24% of consolidated net income will be applied. Any difference over the interim dividend will be distributed with the final dividend.

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