| Notice of Revised Forecast
29 October, 2007
Toshiba notifies following revised forecasts for first half and full year results for FY2007:
I. Full year for FY2007
In the first half of FY2007, Toshiba recorded solid business results. However several factors, including the subprime mortgage crisis in the US and increased crude oil and raw materials prices, render the economic outlook uncertain, making it difficult to predict the second half of FY2007. In consideration of this, and also to reflect the first half results, Toshiba has revised its original forecasts of consolidated operating income, non-consolidated recurring profit, and non-consolidated net income for FY2007. Consolidated income before income taxes and minority interest and consolidated net income for FY2007 are expected to increase significantly, largely on the gain from sales of the Ginza Toshiba Building and its premises in the second half of FY2007.
Accordingly, Toshiba Corporation has revised its original forecasts for FY2007, announced on April 26, 2007, as below.
1. Consolidated forecast for FY2007 (April 1, 2007–March 31, 2008)
2. Non-consolidated forecast for FY2007 (April 1, 2007 – March 31, 2008)
II. First half for FY2007
1. Consolidated first half forecast for FY2007 (April 1, 2007-September 30, 2007)
Non-consolidated recurring profit and non-consolidated net income for the first half of FY2007 surpassed the previous forecast, on solid performances in the PC and Semiconductor businesses. Accordingly Toshiba has revised part of its previous forecast, announced on July 27, 2007, as below.
2. Non-consolidated first half forecast for FY2007 (April 1, 2007-September 30, 2007)
This business result report contains forward-looking statements concerning Toshiba's future plans, strategies and performance. These statements are based on management's assumptions and beliefs in light of the economic, financial and competitive data currently available. Furthermore, they are subject to a number of risks and uncertainties. Toshiba therefore wishes to caution readers that actual results may differ materially from our expectations. Major risk factors that may have a material influence on results are indicated below, though this list is not necessarily exhaustive.
- Disputes including lawsuits in Japan and other countries;
- Success or failure of alliances or joint ventures promoted in collaboration with other companies;
- Success or failure of new businesses or R&D investment;
- Changes in political and economic conditions in Japan and abroad; unexpected regulatory changes;
- Major disasters, including earthquakes and typhoons;
- Rapid changes in the supply/demand situations in major markets and intensified price competition;
- Significant capital expenditure for production facilities and rapid changes in the market;
- Changes in financial markets, including fluctuations in interest rates and exchange rates.