Notice Concerning the Revision of Full-Year Financial Forecasts for the Fiscal Year Ending March 31, 2021

Company Name: erex Co., Ltd.
Representative: Representative Director and President, Hitoshi Honna
(Stock Code: 9517, 1st Section of Tokyo Stock Exchange)
Contact: Executive Director, Kuniharu Takemata (TEL. +81-3-3243-1167)
 
erex Co., Ltd. is pleased to announce that its board of directors, at a meeting held on March 3rd, 2021, decided to revise its financial forecasts for the fiscal year ending March 31st, 2021 (from April 1st, 2020 to March 31st, 2021), which had been disclosed at the time of the announcement of financial results for the fiscal year ended March 31st, 2020 on May 13th last year, in light of recent trends in its business performance, etc., as follows.

Note

1. Revision of Financial Forecasts

Revision of Consolidated Financial Forecasts for the Fiscal Year Ending March 31st, 2021 (from April 1st, 2020 to March 31st, 2021)

2. Reasons for the Revision

erex Co., Ltd. revised its full-year consolidated financial forecasts for the fiscal year ending March 31, 2021, taking into account the results through the 3rd quarter.

Consolidated net sales are expected to exceed the forecasts announced in May 2020 by approximately 42.6% due to growth in sales in the electric power retail business as a result of a steady increase in the power sales volume, as well as an increase in wholesale, etc.

In addition, despite an increase in selling, general and administrative expenses and an impairment loss due to a review of the valuation of fixed assets, operating income, ordinary income, and net income are all expected to meet the initial financial forecasts announced in May 2020 due to reduction in power procurement costs through the steady operation of its in-house power plants and the use of PPAs and expansion of earnings.

(Note) The above forecasts are based on the judgement of erex in light of the information currently available to it, and are subject to a number of uncertainties. Actual results may differ from the above forecasts due to changes in business conditions and other factors.