2004
11.12
Revision of Financial Results Forecast for the Fiscal Year Ending March 31, 2005
Nippon Television Network Corporation
(Tokyo Stock Exchange 9404)
Nippon Television Network Corporation announces today its revision of financial results forecast for the fiscal year ending March 31, 2005, from those previously reported on May 20, 2004.
| Net sales | Recurring profit | Net income | |
| Previous Forecast (A) (as of May 20, 2004) | 144,000 | 5,800 | 2,700 |
| Revised Forecast (B) | 147,000 | 10,500 | 3,700 |
| Difference (B - A) | 3,000 | 4,700 | 1,000 |
| Percent Change | 2.1% | 81.0% | 37.0% |
| (Ref.) Previous Fiscal Year Interim Results | 143,914 | 15,198 | 7,432 |
2.Revision of Consolidated Interim Financial Results Forecast (April 1, 2004 - September 30, 2004)
| Net sales | Recurring profit | Net income | |
| Previous Forecast (A) (as of May 20, 2004) | 165,300 | 8,700 | 4,200 |
| Revised Forecast (B) | 179,700 | 16,000 | 5,900 |
| Difference (B - A) | 14,400 | 7,300 | 1,700 |
| Percent Change | 8.7% | 83.9% | 40.5% |
| (Ref.) Previous Fiscal Year Interim Results | 160,879 | 18,620 | 9,333 |
3.Revision of Parent Basis Financial Results Forecast (April 1, 2004 - March 31, 2005)
| Net sales | Recurring profit | Net income | |
| Previous Forecast (A) (as of May 20, 2004) | 293,000 | 15,800 | 8,600 |
| Revised Forecast (B) | 294,700 | 21,000 | 8,600 |
| Difference (B - A) | 1,700 | 5,200 | - |
| Percent Change | 0.6% | 32.9% | - |
| (Ref.) Previous Fiscal Year Results | 290,344 | 29,023 | 16,103 |
(Ref.) Forecast of net income per share: 344.61 yen
4.Revision of Consolidated Financial Results Forecast (April 1, 2004 - March 31, 2005)
| Net sales | Recurring profit | Net income | |
| Previous Forecast (A) (as of May 20, 2004) | 332,800 | 21,300 | 11,300 |
| Revised Forecast (B) | 345,700 | 28,600 | 11,400 |
| Difference (B - A) | 12,900 | 7,300 | 100 |
| Percent Change | 3.9% | 34.3% | 0.9% |
| (Ref.) Previous Fiscal Year Interim Results | 328,374 | 36,800 | 19,359 |
(Ref.) Forecast of net income per share: 456.81 yen
5.Reason for the revision
Net sales increased due to recovering demand in the advertisement market during the summer and brisk sales of audiovisual software, including DVD of a well-known drama, Winter Sonata. Continuous efforts at cost reduction also contributed to the positive revision. Although economic trends in Japan during the 2nd half of the fiscal year 2004 are uncertain, realizing constant cost reduction will lead to the increase of recurring profit. Introducing a defined contribution pension plan, such as a 401K, will increase extraordinary loss. Therefore we expect net income forecast to be flat.
Note: These forward-looking statements are based on managements' assumptions and beliefs in light of the information currently available, and involve risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements.
