PRESS RELEASES > November 7, 2007
November 7, 2007
Revision of Non-Consolidated Earnings Forecasts for 1H FY 03/2008

Taiheiyo Cement Corporation announced the following revisions to its non-consolidated earnings forecasts announced with FY 03/2007 results on May 15, 2007.
1.Revised non-consolidated forecasts for 1H FY 03/2008 (April 1, 2007-September 30, 2007)

Net sales Operating
income		 Ordinary
income		 1H net
income		 Net income/
share
Previous forecasts (A) \157,000m \3,400m \7,000m \3,500m \3.69
Revised forecasts (B) 152,400m \3,800m \8,900m \6,500m \6.86
Change (B) - (A) -4,600m \400m \1,900m \3,000m \3.17
Change -2.9% 11.8% 27.1% 85.7% 85.9%
Ref: 1H FY03/2007 results \153,145m \7,301m \11,185m \3,288m \3.47

2. Main reasons for revising earnings forecasts

Increase in net income·
  • We expect net income to increase due to factors including improved financial balance on increased dividend income from subsidiaries and affiliates..
Increase in 1H net income·
  • We expect 1H net income to increase due to factors such as corporate tax refunds from the previous year in addition to the increase in net income described above.
At this time we do not expect these revisions to result in any major changes to our consolidated 1H FY 03/2008 forecasts. We are currently calculating our non-consolidated and consolidated earnings forecasts for FY 03/2008 (full year) and plan to announce them along with our preliminary 1H FY 03/2008 results on November 13.

Disclaimer: The forecasts in this document are based on information available at the time of its release. Actual results may differ substantially due to unforeseeable factors or post-release events.