News Release Lawson Revises Earnings Forecasts

NEWS RELEASE

TOKYO, JAPAN, 9 29, 2011

LAWSON, INC. has revised its earnings forecasts for the first six months and full year of fiscal 2011 ending February 29, 2012, based on recent business trends. The previous forecasts were announced on April 14, 2011.

1. Revision to Earnings Forecasts for the First Six Months of Fiscal 2011 (March 1, 2011 to August 31, 2011)

(Consolidated)

Millions of yen

 

Total operating revenue

Operating profit

Recurring profit

Net profit

Net profit per share (yen)

Previous forecast (A)

230,000

28,500

27,600

5,300

53.07

Revised forecast (B)

240,000

32,500

32,600

8,900

89.11

Change (B-A)

10,000

4,000

5,000

3,600

Change (%)

4.3

14.0

18.1

67.9

(Reference)
First half fiscal 2011

221,205

30,148

29,690

12,288

123.44



(Non-consolidated)

Millions of yen

 

Total operating revenue

Operating profit

Recurring profit

Net profit

Net profit per share (yen)

Previous forecast (A)

132,000

26,200

25,500

6,500

65.08

Revised forecast (B)

136,800

29,600

29,600

9,100

91.12

Change (B-A)

4,800

3,400

4,100

2,600

Change (%)

3.6

13.0

16.1

40.0

(Reference)
First half fiscal 2011

133,400

27,187

26,798

12,660

127.18



2. Revision to Earnings Forecasts for Fiscal 2011 (March 1, 2011 to February 29, 2012)

(Consolidated)

Millions of yen

 

Total operating revenue

Operating profit

Recurring profit

Net profit

Net profit per share (yen)

Previous forecast (A)

461,000

57,500

55,400

19,800

198.26

Revised forecast (B)

473,000

61,500

60,400

23,500

235.31

Change (B-A)

12,000

4,000

5,000

3,700

Change (%)

2.6

7.0

9.0

18.7

(Reference)
First half fiscal 2011

441,277

55,540

54,594

25,386

254.61



(Non-consolidated)

Millions of yen

 

Total operating revenue

Operating profit

Recurring profit

Net profit

Net profit per share (yen)

Previous forecast (A)

262,000

52,100

50,300

19,600

196.26

Revised forecast (B)

268,000

55,500

54,400

22,200

222.29

Change (B-A)

6,000

3,400

4,100

2,600

Change (%)

2.3

6.5

8.2

13.3

(Reference)
First half fiscal 2011

263,209

50,210

49,312

24,643

247.15



3. Reasons for Revision

In light of the expected business performance of the first six months of fiscal 2011, Lawson has revised its consolidated and non-consolidated earnings forecasts.

During the first half, sales of ready-made original food products such as rice dishes, desserts, counter fast foods, daily necessities and cigarettes were strong. In addition, high temperature during the summer resulted in a growth in sales of seasonal items. As a result, operating profit increased. Moreover, extraordinary losses related to the Great East Japan Earthquake of March 11, 2011 are expected to amount to less than initially expected, while consolidated subsidiaries performed well. As a result, earnings forecasts for the first six months of fiscal 2011 were revised upward.

Annual forecasts were also revised, in light of the expected performance of the first six months.

(Note) The above forecasts are based on information currently available to the company and are subject to a number of risks and uncertainties. As such, actual results may differ materially from those forecasts.

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