ITX Corporation announced today that in light of recent business performance it has revised its previous forecasts announced on August 1, 2008. Details are as follows.

Revision of full-year forecasts for fiscal 2009 (April 1, 2008 to March 31, 2009)

Reasons for revision

Revenue earned from equipment sales and services for the full-year is expected to be ¥24.0 billion lower. The primary reasons for this are in the mobile retailing business where there has been a decrease in demand for handset renewal, which was impacted by changes in the price plans of mobile communications carriers, and dropping sales as a result of a slump in consumption caused by the slowdown in the economy. Sales of investment securities for business incubation for the full-year, however, are expected to be ¥11.0 billion higher, which ITX aims to achieve by further accelerating the selection and focus of business portfolios. As a result, overall, revenues are expected to be ¥13.0 billion lower compared with the previous forecast announcement.
Concerning operating income and ordinary income, ITX is expected to achieve increased profit from additional revenues from sales of investment securities for business incubation. However, after making a review of the business portfolio and considering the uncertainty regarding the future environment, and as a result of conservatively estimating losses on valuation of investment securities, net income is expected to be ¥0.7 billion lower than the previous forecast announcement.

The preparation of the above forecasts was based on information currently available to management. Please be advised that because of the various uncertainties involved, actual performance may vary from the forecast amounts presented in this document.