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August 7, 2014

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, 2015 which were announced on May 12, 2014 based on recent business performance.

1. Business forecast revision
Revision of consolidated business forecasts
Forecasts for interm period of ending March 31, 2015
(April 1, 2014 - September 30, 2014) (Millions of yen)
Net sales Operating income Ordinary income Net income Net income per share
(yen)
Previous forecast (A) 60,200 12,800 12,800 9,000 265.35
Revised forecast (B) 63,300 12,000 12,600 8,600 253.51
(B)-(A) 3,100 (800) (200) (400)
% change 5.1 (6.3) (1.6) (4.4)
(Reference)
Previous full-year results
54,610 9,806 9,754 6,663 197.44

Forecasts for full fiscal year of fiscal year ending March 31, 2015

(April 1, 2014 - March 31, 2015) (Millions of yen)
Net sales Operating income Ordinary income Net income Net income per share
(yen)
Previous forecast (A) 107,700 18,800 19,100 13,600 400.98
Revised forecast (B) 113,900 19,100 19,900 13,900 409.74
(B)-(A) 6,200 300 800 300
% change 5.8 1.6 4.2 2.2
(Reference)
Previous full-year results
104,920 17,353 17,447 12,088 357.55

Revision of non-consolidated business forecasts

Forecasts for interm period of ending March 31, 2015

(April 1, 2014 - September 30, 2014) (Millions of yen)
Net sales Operating income Ordinary income Net income Net income per share
(yen)
Previous forecast (A) 51,400 9,400 12,400 9,200 271.25
Revised forecast (B) 55,100 9,700 12,600 9,300 274.15
(B)-(A) 3,700 300 200 100
% change 7.2 3.2 1.6 1.1
(Reference)
Previous full-year results
45,581 6,755 9,208 6,832 202.44

Forecasts for full fiscal year of fiscal year ending March 31, 2015

(April 1, 2014 - March 31, 2015) (Millions of yen)
Net sales Operating income Ordinary income Net income Net income per share
(yen)
Previous forecast (A) 90,700 13,600 16,700 12,500 368.55
Revised forecast (B) 96,700 14,800 17,900 13,200 389.11
(B)-(A) 6,000 1,200 1,200 700
% change 6.6 8.8 7.2 5.6
(Reference)
Previous full-year results
85,696 11,801 14,637 10,708 316.71

Reason for the revisions

The full year forecast, released on May 12th this year, was revised due to the development of the global economy, the market environment of the semiconductor and electronic component industry, business results and trends in the company’s performance.

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
(yen) Dividend per share
1Q-end 2Q-end 3Q-end Year-end Annual
Previous forecast - 67 - 34 101
Revised forecast - 64 - 40 104
Results for this year - - - - -
(Reference)
Results for previous year
- 50 - 40 90

Reason

Based on the new earnings forecast and the performance- linked dividend policy the dividend payment forecast has been revised as seen above.

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 25% of the consolidated net income.

Note: The total amount of the interim dividend will consist of 25% of consolidated net income for the first half of the year (April-September), and that of the final dividend, of 25% 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 reliable dividend of 10 yen per half-year.

Except when there is a loss, if the year-end balance of cash and deposits after payment of dividends and income taxes is greater than projected funding requirements for the acquisition of technology resources, one-third of that surplus will be added to dividends. The ¥20 payout stipulated in our stable dividend policy may be viewed if there are consolidated net losses in three consecutive years.
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