2007
Dec.17, 2007
Minebea Co., Ltd.
(Correction) Notice Concerning Partial Revision of Brief Report of Interim Non-Consolidated Financial Results for First Half of Fiscal Year Ending March 31, 2008
Minebea Co., Ltd. ("Minebea") announces a partial revision to the Brief Report of Interim Non-Consolidated Financial Results for First Half of Fiscal Year Ending March 31, 2008 published on October 30, 2007 as follows.
1. Reason for correction
Minebea had made a timely disclosure to the Tokyo Stock Exchange on October 30, 2007 concerning the expected posting of an extraordinary loss for the latter half of the year on the non-consolidated results, but the amount of the extraordinary loss was determined by the time the half year financial report was to be submitted. Therefore, the interim non-consolidated statement was adjusted to reflect the subsequent influential accounting event.
The details of the corrections are as follows:
A 4,193 million yen extraordinary loss was posted due to the recording of an allowance for bad debts arising from the liquidation of Singaporean subsidiary Minebea Technologies Pte. Ltd. A deferred tax asset of 1,635 million yen was also recorded as the recognized amount of the tax effect arising from the posting of the 4,193 million yen extraordinary loss.
Additionally, because the above event is a transaction between affiliated companies that will be completely eliminated on the consolidated statements, the correction applies only to the interim non-consolidated financial statements and not to the consolidated ones.
No changes have been made to the consolidated or non-consolidated earnings forecasts for the fiscal year ending March 31, 2008.
2. Indication of corrections
Corrections are indicated in the annex by underline.
| Company Name: | Minebea Co., Ltd. |
|---|---|
| Representative: | Takayuki Yamagishi Representative Director, President and Chief Executive Officer (Code No. 6479 TSE Div. No. 1) |
| Contact Person: | Sakae Yashiro Senior Managing Executive Officer Deputy Chief of Administration Headquarters (TEL: 81-3-5434-8611) |
Product information, contact and other context are subject to change without prior notice.
