2008
5.1
Revision of Financial Forecast and Year-end Dividends for the Fiscal Year Ended March 31, 2008
Nippon Television Network Corporation (NTV) announced today its revision of consolidated and non-consolidated financial forecasts and year-end dividends for fiscal year ended March 31, 2008 from those previously announced on February 7, 2008 and November 15, 2007, respectively.
1. Revision of Financial Results Forecast (April 1, 2007 - March 31, 2008)
(Ref.) Forecast of net income per share: 429.23yen
(Ref.) Forecast of net income per share: 256.47 yen
(2) Reasons for Revision of Financial Results Forecast
Both consolidated and non-consolidated financial forecasts for fiscal year ended March 31, 2008 will be more than that previously forecast on February 7, 2008.
In terms of net sales, reflecting the box-office successes of theatrical films and strong sales of the TV-shopping business, broadcasting sales of the 2nd half were higher than expected.
Even with sales growth leading to an increase in cost of sales, operating income and recurring profit were better than expected. Due to accounting for devaluation losses on securities, net income remained the same as expected.
2. Revision of Year-end Dividends
(1) Reason for Revision of Year-end Dividends
NTV understands that returning profit to shareholders is an important managerial issue and has implemented a policy of performance-based dividends. The target dividends ratio is set to be 33 % of the non-consolidated net income, with an annual dividend of 150 yen as the floor.
To celebrate NTV's 55th anniversary, the NTV board, at the board directors' meeting today, decided to implement a commemorative dividend of 30 yen. As a result, NTV will raise its year-end dividend for the fiscal year ended March 31, 2008 to 105 yen, which will bring the total dividend for the fiscal year to 180 yen.
This subject will be discussed at the general shareholders' meeting planned for June 27, 2008.
Note: These forward-looking statements are based on management's 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.
1. Revision of Financial Results Forecast (April 1, 2007 - March 31, 2008)
| (1) Revision 1. Consolidated basis | (Unit: millions of yen) |
| Net sales | Operating income | Recurring profit | Net income | |
| Previous Forecast (A) (as of February 7, 2008) | 335,000 | 20,000 | 23,500 | 10,000 |
| Revised Forecast (B) | 342,100 | 23,000 | 26,700 | 10,600 |
| Change amounts (B - A) | 7,100 | 3,000 | 3,200 | 600 |
| Change (%) | 2.1 | 15.0 | 13.6 | 6.0 |
| (Ref.) Previous Fiscal Year Results (April 1, 2006 - March 31, 2007) | 343,651 | 30,344 | 34,142 | 18,331 |
| 2. Non-consolidated basis | (Unit: millions of yen) |
| Net sales | Operating income | Recurring profit | Net income | |
| Previous Forecast (A) (as of February 7, 2008) | 286,000 | 13,000 | 15,500 | 6,500 |
| Revised Forecast (B) | 291,200 | 16,100 | 18,500 | 6,400 |
| Change amounts (B - A) | 5,200 | 3,100 | 3,000 | -100 |
| Change (%) | 1.8 | 23.8 | 19.4 | -1.5 |
| (Ref.) Previous Fiscal Year Results (April 1, 2006 - March 31, 2007) | 288,636 | 20,898 | 23,863 | 12,726 |
(2) Reasons for Revision of Financial Results Forecast
Both consolidated and non-consolidated financial forecasts for fiscal year ended March 31, 2008 will be more than that previously forecast on February 7, 2008.
In terms of net sales, reflecting the box-office successes of theatrical films and strong sales of the TV-shopping business, broadcasting sales of the 2nd half were higher than expected.
Even with sales growth leading to an increase in cost of sales, operating income and recurring profit were better than expected. Due to accounting for devaluation losses on securities, net income remained the same as expected.
2. Revision of Year-end Dividends
(1) Reason for Revision of Year-end Dividends
NTV understands that returning profit to shareholders is an important managerial issue and has implemented a policy of performance-based dividends. The target dividends ratio is set to be 33 % of the non-consolidated net income, with an annual dividend of 150 yen as the floor.
To celebrate NTV's 55th anniversary, the NTV board, at the board directors' meeting today, decided to implement a commemorative dividend of 30 yen. As a result, NTV will raise its year-end dividend for the fiscal year ended March 31, 2008 to 105 yen, which will bring the total dividend for the fiscal year to 180 yen.
This subject will be discussed at the general shareholders' meeting planned for June 27, 2008.
| (2) Revision | (Unit: yen) |
| Interim Period | Year End | Annual | |
| Previous Forecast (A) (as of November 15, 2007) | 75.00 | 75.00 | 150.00 |
| Revised Forecast | 75.00 | 105.00 Ordinary: 75.00 Commemorative: 30.00 | 180.00 Ordinary: 150.00 Commemorative: 30.00 |
| Actual | 75.00 | - | - |
| (Ref.) Previous Fiscal Year Results (April 1, 2006 - March 31, 2007) | 75.00 | 95.00 | 170.00 |
Note: These forward-looking statements are based on management's 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.
