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October 23, 2009

Promise Co., Ltd.

Revised Earnings Forecast

Promise has made the following revisions to the six months ended September 30, 2009 (April 1, 2009 - September 30, 2009) consolidated earnings forecast released on May 11, 2009, along with the announcement of the Company's financial results.

1. Revised Earnings Forecast for the Second Quarter (2Q) Ended September 2009(April 1, 2009 - September 30, 2009)
(Millions of yen)
Consolidated
Operating income
Operating profit
Recurring profit
Net income
Net income per share(yen)

Previous forecast (A)
(Released on May 11, 2009)

 
171,300
9,300
9,200
6,600
52.04

Revised forecast (B)

 
175,700
10,800
10,900
9,500
74.91

Amount of revision
(B - A)

 
4,400
1,500
1,700
2,900
22.87

Percentage change (%)

 
2.6
16.1
18.5
43.9
-

Result of the six months ended Sept. 30, 2008

 
201,761
27,235
27,515
12,432
98.03


2. Principal Reasons for Revision
On a non-consolidated basis, Promise's six months performance was generally in line with plans. However, results of operations at subsidiaries in Japan and overseas were better than expected. As a result, the six months consolidated operating income forecast has been increased by 4.4 billion yen. Provision for losses on interest repayments are expected to be higher than planned due to the consistently high volume of interest repayment claims. However, consolidated operating expenses are expected to increase only slightly due to measures at all Group companies to lower selling and administrative expenses. Consequently, the forecasts for consolidated operating profit, recurring profit, and net income have been increased by 1.5 billion yen, 1.7 billion yen, and 2.9 billion yen, respectively.
3. Earnings Forecast for the Fiscal Year Ending March 31, 2010
There is no change at this time in the earnings forecast for the fiscal year ending March 31, 2010.

4. Dividend Forecast
There is no change at this time in the six months dividend forecast due to these revisions. Promise will announce a forecast for the year-end dividend with its six months period earnings announcement, which is scheduled for Thursday, November 5, 2009.

 
The above revision of the earnings performance forecast is a forward-looking statement made based on the information available at the time of the announcement of this revision. Actual earning performance could differ due to a variety of factors.
 
 
This news release has been translated from the original Japanese document released on October 23, 2009., for reference only.
In the event of any discrepancy between this translated document and the original Japanese document, the original document shall prevail.
 

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