For Immediate Release:

October 27, 2004

JVC Announces Revision of Business Forecast for Fiscal 2005

Reflecting our current severe business conditions, Victor Company of Japan, Limited (JVC) revised its earlier business forecast for fiscal 2005 (April 1, 2004 through March 31, 2005) as in the tables below. Previous forecast was announced on April 27, 2004, along with business results for fiscal 2004.

1. Revision of consolidated business forecast for fiscal 2005, ending March 31, 2005
   (April 1, 2004 through March 31, 2005).

Millions of yen

 

Net Sales (Loss)

Ordinary Income (Loss)

Net Income (Loss)

Original Forecast (A)
(Announced on April 27, 2004)

935,000

23,000

8,000

Revised Forecast (B)

905,000

17,000

4,000

(B-A)

(30,000)

(6,000)

(4,000)

Rate of Change (%)

(3.2%)

(26.1%)

(50.0%)

FY 2004

921,978

20,184

15,608

2. Revision of non-consolidated business forecast for fiscal 2005, ending March 31, 2005
   (April 1, 2004 through March 31, 2005).

Millions of yen

 

Net Sales (Loss)

Ordinary Income (Loss)

Net Income (Loss)

Original Forecast (A)
(Announced on April 27, 2004)

490,400

10,800

2,000

Revised Forecast (B)

465,000

9,000

1,500

(B-A)

(25,400)

(1,800)

(500)

Rate of Change (%)

(5.2%)

(16.7%)

(25.0%)

FY 2004

501,710

6,885

7,195

3. Reason for revision

Falling prices resulting from heightened competition in the domestic and international markets for digital appliances negatively affected our business performances.
Accordingly, our sales and profit targets for fiscal 2005 have been revised downward against the original forecasts.

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