Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy
between this translated document and the original Japanese document, the latter shall prevail.
Company name:
Stock exchange listing:
Representative:
Inquiries:

Denyo Co., Ltd.
Tokyo
President
Senior Executive Officer

October 26, 2017
(Stock code: 6517)
Shoichi Shiratori
Toshiya Tozawa(TEL03-6861-1111)

Notice Concerning the Revision of Forecast Financial Results for the Year ending March 31, 2018
Denyo Co., Ltd. (the “Company”) resolved to revise the Forecast Financial Results for the year ending March 31,2018 which were announced on May 10, 2017 based on the recent actual performance. Details are as follows.
Description
1. Revision of Forecast Financial Results(1) Revision of the consolidated financial results
Revision of the forecast consolidated financial results for second quarter (cumulative basis) of the year ending March 31, 2018

(From April 1, 2017 to September 30, 2017)
Net sales

OperatingincomeOrdinary
incomeMillions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

24,0001,900

2,0501,370

64.51

New forecasts (B)22,800

1,400

1,500

950

44.73

Change (B-A)(1,200)

(500)

(550)

(420)

Change (%)(5.0)(26.3)(26.8)(30.7)

22,894

1,667

1,784

1,103

51.61

Profit attribute toowners of parent

Earnings per
share

Previous forecasts (A)Reference: Results in 2nd quarterof the Year ended Mar.31, 2017

Profit attribute toowners of parent

Earnings per
share

Revision of the forecast consolidated financial results for the year ending March 31, 2018
(From April 1, 2017 to March 31, 2018)
Net sales

Operatingincome

Ordinary
incomeMillions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

52,000

4,600

5,000

3,150

New forecasts (B)50,500

4,000

4,200

2,600

148.33122.41

Change (B-A)(1,500)

(600)

(800)

(550)

Change (%)(2.9)(13.0)(16.0)(17.5)

48,851

4,247

4,526

2,867

Previous forecasts (A)Reference: Results in Year
ended Mar.31, 2017134.18(2) Revision of the Non-consolidated financial results
Revision of the forecast Non-consolidated financial results for second quarter (cumulative basis) of the year ending March 31, 2018

(From April 1, 2017 to September 31, 2017)
Net sales

Operating income

Net income

Earnings per share

Millions of yen

Millions of yen

Millions of yen

Yen

17,500

1,500

1,100

51.68

New forecasts (B)15,500

950

800

37.58

Change (B-A)(2,000)

(550)

(300)

Change (%)(11.4)(36.7)(27.3)

Previous forecasts (A)Reference: Results in 2nd quarterof the Year ended Mar.31, 2017――――

Revision of the forecast Non-consolidated financial results for the year ending March 31, 2018
(From April 1, 2017 to March 31, 2018)
Net sales

Operating income

Net income

Earnings per share

Millions of yen

Millions of yen

Millions of yen

Yen

38,000

3,200

2,300

108.06

New forecasts (B)35,500

2,400

1,750

82.20

Change (B-A)(2,500)

(800)

(550)

Change (%)(6.6)(25.0)(23.9)

35,117

2,919

2,154

Previous forecasts (A)Reference: Results in Year
ended Mar.31, 2017100.59

2. Reasons
During the period of the second quarter cumulative period, the shipment of the engine generator remained robust inJapan, but the shipment to the Asia has been underperforming the forecasts. For the second half of the year, theshipment to the domestic market is expected to be trending higher than the previous year, but the shipment to the Asia
is expected to be difficult to recover in a short term, therefore the Company resolved to revise the both consolidated
and Non-consolidated forecast financial results as the above description.
Notice: The above forecast is based on the information we have got until the announcement date of this material. Please kindly be aware of that actual results
may differ materially from projected values due to various factors.

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