News Release

Reporting Differences between Actual Results and Published Forecast for the Fiscal Year Ended December 31, 2019

Feb 13, 2020
J Trust Co., Ltd.

						

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J Trust Co., Ltd. (hereinafter, the “Company”) announced its financial results for the fiscal year ended December 31, 2019 today, and would like to report that there is a difference between the actual results and forecasts for the fiscal year ended December 31, 2019 published on May 13, 2019. Please see details below. 1.Differences between actual results and published forecasts (i)Differences between actual results and published forecasts for the fiscal year ended December 31, 2019 (April 1, 2019 to December 31, 2019)
Operating revenue Operating profit Profit (loss) attributable to owners of parent Basic earnings per share
Forecasts (A) (Published on May 13,2019) million yen 64,397 million yen 61 million yen (1,118) yen (10.56)
Actual results(B) 58,105 287 (3,249) (30.69)
Difference (B-A) (6,291) 226 (2,131)
Difference in ratio (%) (9.8) 371.5 -
(Reference)* Actual figures for fiscal year ended March 31, 2019 74,935 (32,600) (36,107) (349.70)

* The Company changed its accounting period in the fiscal year ended December 31, 2019. As a result, the fiscal year ended December 31, 2019 is a 9-month period from April 1, 2019 to December 31, 2019 while the fiscal year ended March 31, 2019 (April 1, 2018 to March 31, 2019) is a 12-month period.

(ii)Reasons for the difference

Operating revenue was lower than forecasts because: (i) loans for Banking Business declined in Financial Business in Southeast Asia and the delay in the acquisition of shares of J Trust Royal Bank Ltd. caused a drop in interest revenue in Financial Business in Southeast Asia; and (ii) part of sales from advertising agency business in General Entertainment Business was recorded on a net basis under IFRS despite solid growth in operating revenue in Financial Business in Japan and Financial Business in South Korea and Mongolia. Operating profit was higher than forecasts due to smaller provision of allowance for doubtful accounts and an increase in gain on sale of receivables in Financial Business in South Korea and Mongolia despite larger provision of allowance for doubtful accounts in Financial Business in Southeast Asia and higher litigation expenses in Financial Business in Southeast Asia and Investment Business. However, profit attributable to owners of parent was lower than forecasts due to foreign exchange losses and larger income tax expense after reviewing collectability of deferred tax assets and their decline in value.

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J Trust Co., Ltd. Finance Department
+81(3) 4330-9100 (Weekdays 9:00-18:00 JST)