FANCL raises consolidated outlook for fiscal year 2014
Japan’s FANCL Corporation reports increased consolidated full-year outlook for revenue for fiscal year ending 31 March 2014.
Japan’s FANCL Corporation has increased the consolidated full-year outlook for revenue to ¥79,500m from ¥78.5bn for the fiscal year ending 31 March 2014.
The company manufactures preservative-free cosmetics and health foods and markets them in Japan and southeast Asia.
The revised outlook sees an increased operating income forecast at ¥2.7bn, up from ¥1.1bn, an increased ordinary income forecast at ¥3bn from ¥1.3bn. Net profit is forecast to reach ¥750m compared with the originally forecast loss of ¥300m. FANCL expects increased earnings per share to ¥11.56, compared with a loss of ¥4.62.
The company explained that the forecast had been revised in the light of stronger than expected sales of FANCL and a projected surge in demand prior to Japan's sales tax increase, which goes up from 5% to 8% on 1 April. Lower than expected sales expenses also contributed.
As announced last November, FANCL will close its 13 retail stores in Singapore by the end of March, as part of a restructuring. It will later re-enter the market as a wholesaler. Unprofitable stores in Taiwan will also be closed.
