Start of page

January 7, 2009

Promise Co., Ltd.

Promise Posts Loss on Valuation of Investments in Securities

Promise Co., Ltd. announced that a loss on valuation of investments in securities due to asset impairment would be posted in the third quarter (3Q) ended December 31, 2008. This valuation loss is due to a significant decline in the market values of securities classified as “other securities.”
 
 
1. Total Amount of Loss on Valuation of Investments in Securities as of the 3Q of Fiscal Year Ending March 31, 2009 (Estimate)
                                                                                                              (Millions of yen)
 
 
Consolidated
Non-Consolidated
(A) Total amount of loss on valuation of investments in securities as of December 31, 2008 (estimate)
3,275
3,270
(B) Net assets as of March 31, 2008
       (A/BX100)
418,885
(0.8%)
352,036
(0.9%)
(C) Recurring profit as of March 31, 2008
       (A/CX100)
64,325
(5.1%)
43,153
(7.6%)
(D) Net income as of March 31, 2008
       (A/DX100)
15,955
(20.5%)
6,284
(52.0%)
Note: Promise ends its fiscal year on March 31.
 
2. Outlook
Promise plans to record this loss on valuation of investments in securities as an extraordinary loss in the 3Q ended December 31, 2008.
Promise is currently examining the effect of this loss on the consolidated and non-consolidated forecasts for the fiscal year ending March 31, 2009. An announcement will be made promptly if any revisions are needed.
 
 
This news release has been translated from the original Japanese document released on January 7, 2009, for reference only.
In the event of any discrepancy between this translated document and the original Japanese document, the original document shall prevail.
 

End of page