PRESS RELEASES > November 13, 2007
November 13, 2007
Consolidated and Non-Consolidated Earnings Forecast Revisions

Taiheiyo Cement Corporation announces the following revisions (consolidated and non-consolidated) to its earnings forecasts for fiscal 03/2008 (April 1, 2007-March 31, 2008), which were initially announced on May 15, 2007, to account for recent trends in the company's performance and other factors.
1.Revised consolidated forecasts for fiscal 03/2008 (April 1, 2007-March 31, 2008)

Net sales Operating
income		 Ordinary
income		 Net
income		 Net income/
share
Previous forecasts (A) \973,000m \73,000m \63,000m \32,000m \34.18
Revised forecasts (B) \932,000m \56,000m \49,000m \22,500m \24.00
Change (B) - (A) -\41,000m -\17,000m -\14,000m -\9,500m -
Change(%) -4.2% -23.3% -22.2% -29.7% -
Ref: FY 03/2007 results \940,630m \76,692m \67,907m \24,408m \26.08

2.Revised non-consolidated forecasts for fiscal 03/2008 (April 1, 2007-March 31, 2008)

Net sales Operating
income		 Ordinary
income		 Net
income		 Net income/
share
Previous forecasts (A) \325,000m \16,000m \19,000m \7,000m \7.39
Revised forecasts (B) \317,000m \11,000m \15,000m \6,500m \6.86
Change (B) - (A) -8,000m -5,000m -4,000m -\500m -
Change(%) -2.5% -31.3% -21.1% -7.1% -
Ref: FY 03/2007 results \313,409m \22,340m \26,365m \5,611m \5.92

3.Main reasons for earnings forecast revisions

Decrease in sales
  • We expect decreased revenues on a non-consolidate basis due to lower cement sales volume in Japan; on a consolidated basis, we anticipated lower sales due to lower cement sales volume in the U.S. to compound this.
Decrease in ordinary, net, and current-net income·
  • We expect these decreases in sales to result in lower ordinary, net, and current-net income than initially anticipated.
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.