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CORPORATE NEWS [latest news list] August 6, 2008
line
Announcement of Revised Consolidated Business Forecast for Fiscal Year
Ending March 2009


We hereby inform all concerned parties that the consolidated business forecast for the fiscal year ending March 2009, announced on May 14, 2008, has been revised as described in the following. The non-consolidated business forecast has not been made public.


Description

1. Revision of the numerical values in the consolidated business forecast for the fiscal year ending March 2009 (April 1, 2008 - March 31, 2009)
(In millions of yen for items other than current net profit per share)
  Sales Operating profit Ordinary profit Current Net profit Current Net Profit Per Share
Previous forecast(A) 1,400,000 140,000 133,000 82,000 280.69
Revised forecast(B) 1,390,000 135,000 129,000 79,500 272.09
Amount of change (B-A) 10,000 5,000 4,000 2,500 -
Rate of change (%) 0.7% 3.6% 3.0% 3.0% -
Results in the previous fiscal year (fiscal year ending March 2008) 1,290,893 128,496 122,106 75,223 263.65

2. Revision of the numerical values in the consolidated business forecast for the first & second quarters combined of the fiscal year ending March 2009 (April 1, 2008 - September 30, 2008)
(In millions of yen for items other than current net profit per share)
  Sales Operating profit Ordinary profit Current Net profit Current Net Profit Per Share
Previous forecast (A) 682,000 78,000 74,500 47,500 162.60
Revised forecast (B) 676,000 70,000 67,500 43,000 147.17
Amount of change (B-A) 6,000 8,000 7,000 4,500 -
Rate of change (%) 0.9% 10.3% 9.4% 9.5% -
Results in the first & second quarters combined of the previous fiscal year 655,458 80,715 76,674 49,104 176.32

3. Reason for revision of the business forecast

We have revised the consolidated business forecast for the first half and full-year of the fiscal year ending March 2009, which was announced on May 14, 2008, according to the consolidated results in the first quarter.
While there is concern regarding rising prices in the market and decline in the demand for residential air conditioner in Europe after the second quarter, we are striving to achieve our business targets through various measures, including sales promotion of commercial air conditioners, heating and sanitary hot water supply units, and applied systems, sales promotion in the emerging markets such as China, Asian countries and the Middle East as well as in Japan, and total cost reduction efforts. Our forecast is based on the exchange rate of ¥160 to the euro and ¥103 to the dollar.

(Note) Although the business forecast is based on the information that is available at the present time and on the assumptions that can be considered rational, it may differ substantially from the actual results.
Major factors that may affect the results include the following.
Sudden change in the political/economic conditions or demand for products in major markets (Japan, Europe, the United States, and Asia including China)
Change in the demand for air conditioner due to unseasonable weather
Substantial change in the foreign exchange (especially in euro and dollar exchange rates)
Serious trouble occurring in quality or manufacturing
Change in the market value of securities or other properties possessed by this company

End


  For more information, please contact
     Daikin Industries, Ltd.
 
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