October 1, 1997
Revised Business Forecast for Fiscal 1997
Hitachi, Ltd. hereby revises its business forecast for fiscal 1997 as follows.
1. Unconsolidated forecast
Yen (millions)
|
Fiscal 1997 |
Fiscal 1996 results (B) |
| Revised forecast (A) |
(A)/(B) ~100 |
Initial forecast* |
| Net sales |
4,150,000 |
96% |
4,350,000 |
4,310,787 |
| Ordinary income |
70,000 |
83% |
110,000 |
84,318 |
| Net income |
50,000 |
86% |
75,000 |
58,018 |
* The initial forecast was released in May 1997.
- Factors relating to the revision of the forecast -
Information operations were firm, led by large computers,
and displays also did well. However, the market for DRAMs
remained depressed, with prices falling at a faster pace
than initially estimated. Sales of air conditioners and
other home appliances were slow, reflecting the rise in
the consumption tax and relatively cool summer weather.
There was a major decrease in demand for switching systems,
a mainstay of the Company's telecommunications business.
As a result, Hitachi estimates that net sales will amount
to 4,150,000 million yen (a decrease of 4% compared to the
preceding fiscal year), 200,000 million yen less than the
initial forecast, ordinary income will come to 70,000
million yen (a decrease of 17% compared to the preceding
fiscal year), 40,000 million yen less than the initial
forecast, and net income will amount to 50,000 million yen
(a decrease of 14% compared to the preceding fiscal year),
25,000 million yen less than the initial forecast.
2. Consolidated forecast
Yen (millions)
|
Fiscal 1997 |
Fiscal 1996 results (B) |
| Revised forecast (A) |
(A)/(B) ~100 |
Initial forecast* |
| Net sales |
8,550,000 |
100% |
8,620,000 |
8,523,100 |
| Ordinary income |
265,000 |
101% |
310,000 |
263,324 |
| Net income |
89,000 |
101% |
105,000 |
88,331 |
* The initial forecast was released in May 1997.
WRITTEN BY Secretary's Office
All Rights Reserved,
Copyright (C)
1997, Hitachi, Ltd.
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