The Kyoto-based company booked an operating profit of 171.08 billion
yen on sales of 1.01 trillion
yen in fiscal 2010.
For the whole business year 2010, the company now forecasts a group net profit of 77 billion
yen, up from 1.04 billion
yen in the previous year, and a group operating profit of 130 billion
yen, up from 75.71 billion
yen, on estimated sales of 2.90 trillion
yen, up from 2.60 trillion
yen.
Consumers' purchasing power has weakened as wages remained flat, interest income was lost, and the
yen weakened.
Entitled Directory of Soft Drink Marketing 2006-No.1, the 298-page report, sells for 136,500
yen (US$1,187) in hardcopy and 147,000
yen ($1,278) in hardcopy with a supplemental CD-ROM.
Don't forget that if we get the locations right, for every new higaeri onsen we bring on stream, we can expect to see visitor traffic of about 1,000 to 2,000 people a day, resulting in revenues of 80 to 100 million
yen a month.
On an unconsolidated basis, the company expects a pretax loss of 1.5 billion
yen and net loss of 14.5 billion
yen, compared with earlier projections of 5 billion
yen in pretax loss and 16 billion
yen in net loss.
In the previous 1999 fiscal year, the company chalked up a group net profit of 56.06 billion
yen and a pretax profit of 108.34 billion
yen on sales of 530.67 billion
yen.
Nomura Securities was up 52
yen to 1,642
yen, Nikko Securities 39
yen to 954
yen, and Daiwa Securities Group 22
yen to 1,009
yen.
Throughout the quarter, the
yen was pressured by anticipation of renewed capital flows out of Japan after the March 31 conclusion of the Japanese fiscal year, the beginning of Japan's liberalization of its foreign exchange laws, and continued weakness in the Japanese economy and financial system.
In the first case, this happens because the actual dollar price decreases, while in the second case, the dollar value of the increased
yen price is less than the contract price of $9.43.
With the bubble deflated and the Japanese economy mired in the doldrums, interest rates on Japanese yen-denominated securities are now one to two percentage points below interest rates on comparable dollar-denominated securities, so few investors would be likely to buy Japanese
yen securities in search of higher yields.
The
yen's sharp rise is also eroding Denso's earnings.
