2005
4.28
Revision of Financial Results Forecast and Proposed Year-end Dividend Payments for the Fiscal Year Ended March 31, 2005
Nippon Television Network Corporation
(Tokyo Stock Exchange 9404)
Nippon Television Network Corporation (NTV) announced today its revision of financial results forecast and proposed year-end dividend payments for the fiscal year ended March 31, 2005 from those previously reported on February 3, 2005.
1.Revision of Financial Results Forecast (April 1, 2004 - March 31, 2005)
| (1) Non-consolidated Basis | (Unit: millions of yen) |
| Net Sales | Ordinary Income | Net Income | |
| Previous Forecast (A) (as of February 3, 2005) | 296,000 | 22,500 | 9,000 |
| Revised Forecast (B) | 297,000 | 25,300 | 12,500 |
| Difference (B - A) | 1,000 | 2,800 | 3,500 |
| Percent Change | 0.3% | 12.4% | 38.9% |
| (Ref.) Previous Fiscal Year Results (April 1, 2003 - March 31, 2004) | 290,344 | 29,023 | 16,103 |
(2) Reason for the revision
The increase of net sales exceeded what NTV had announced for its third quarter results of fiscal year 2004 on February 3, 2005. This is due to steady performances of television broadcasting sales from January to March 2005 and continuous efforts at cost reduction. A decrease of extraordinary loss, due to a decrease of loss on devaluation of investment securities, also contributed to its upward revision.
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.
2.Revision of Proposed Year-end Dividend Payments
(1) Reason for the revision
NTV recognizes that returning profit to its shareholders is an important mission of the company. Therefore, NTV plans to implement a policy that places emphasis on a performance-based dividend payout. The target payout ratio is set to be 33 % of the non-consolidated net income, with an annual dividend of 100 yen as the floor.
As a result, NTV will raise its year-end dividend for the fiscal year ended March 31, 2005 to 140 yen, which makes its annual dividend to be 165 yen. This policy will be discussed at the general shareholders' meeting planned on June 29, 2005.
| (2) Revision |
| Interim Period | Year End | Annual | |
| Previous Forecast (A) (as of November 18, 2004) | 25.00 | 25.00 | 50.00 |
| Revised Forecast (B) | 25.00 | 140.00 | 165.00 |
| (Ref.) Previous Fiscal Year Results (April 1, 2003 - March 31, 2004) | 25.00 | 95.00 | 120.00 |
