Business Plan (April 1, 2011 ~ March 31, 2012)
Disclosure of full-year earnings outlook
| Non-consolidated | Net sales (million yen) |
Operating income (million yen) |
Ordinary income (million yen) |
Net income (million yen) |
Annual dividend per share (yen) |
Net earnings per share (yen) |
|---|---|---|---|---|---|---|
| Current term (forecast) |
280 | -650 | -650 | -650 | - | -29.34 |
| Previous term (acutal results) |
3,558 | 30 | 7 | 114 | - | 5.19 |
| Consolidated | Net sales (million yen) |
Operating income (million yen) |
Ordinary income (million yen) |
Net income (million yen) |
Net earnings per share (yen) |
|---|---|---|---|---|---|
| Current term (forecast) |
920 | -700 | -700 | -700 | -31.60 |
| Previous term (acutal results) |
4,351 | 39 | 8 | 115 | 5.24 |
- * The full-year earnings outlook figures were first disclosed to the Tokyo Stock Exchange on April 3, 2012 as "Revision of Earnings Outlook," part of Oak Capital's revision to fiscal year-end results.
- * Explanation about the proper use of financial forecasts and other important notes:
- The above forecasts are based on our current assumptions, beliefs and available information and involve unknown risks and uncertainties. Actual results may materially differ from these forecasts due to risk factors and variables such as changes in economic or stock market conditions.
Revenue Recognition
Oak Capital's basis of revenue recognition
- Non-consolidated (single-body) business results constitute the main source of Oak Capital's earnings.
Earnings made through exit realizations are recognized as follows:- When an exit of an investment recipient company is realized, profits are booked as Return on Investment (Net Sales) and Cost of Investment (Cost of Sales) respectively.
- In case of an exit by an affiliate or related company ("portfolio company"), net profit or loss are posted as extraordinary (special) profit or loss.
- Management fees received as General Partner of funds, is booked as "Limited Partnership Fund Management Revenue".
- Dividends received from investees (Investments aimed at stable dividend income) as well as distributions out of outside investment trust funds (in which Oak Capital acts as Limited Partner) are recognized as Net Sales.
Effects of revenue of investment recipient companies on Oak Capital's own consolidated results
- Earnings of consolidated subsidiaries are reflected as such in Oak Capital's consolidated profit and loss statements, i.e. from Net Sales down to Net Income/Loss. However, Minority Interests in Earnings/Loss are excluded.
- As to earnings of equity method affiliates, only Net Profit/Loss complies with Oak Capital's equity method and is recognized as Non-operating Income/Loss in Oak Capital's consolidated profit and loss statements.
- Investments purely for the purpose of investing are not subject to consolidation.
- * Concerning the impact of downgrades in stock prices
- In case the market value of marketable securities in Oak Capital's ownership show a significant decline at the end of each settlement period (including quarterly settlement of the accounts), and, in case it can be reasonably expected that no recovery is plausible within one year, Oak Capital may decide to reflect the actual market value in its balance sheet as periodic loss by writing off the valuation difference.
- * Concerning the treatment of equity warrants
- Equity warrants are not susceptible to the effect of stock price movements.
Shares acquired through exercise of right are evaluated in the same manner as shareholdings with a market value, i.e. at real market value.