TOWA : Revisions of Earning Forecast for the Fiscal Year Ending March 31, 2017 40KB

February 9, 2017

Revisions of Earning Forecast for the Fiscal Year Ending March 31, 2017

Company Name: TOWA CORPORATION

Stock Listings: Tokyo Stock Exchange

Code Number: 6315

URL: http://www.towajapan.co.jp

Representative: Hirokazu Okada, President and CEO

Inquiries: Kiyoshige Gamo, Executive Officer

Division Manager of Corporate Planning Div．

Telephone Number: ([phone]

In light of recent changes in business performance, TOWA CORPORATION ("the Company") hereby announces revisions of the earnings forecast announced on May 10, 2016 for the fiscal year ending March 31, 2017 as follows.

Revised earnings forecast for the fiscal year ending March 31, 2017 (From April 1, 2016 to March 31, 2017)

1. Consolidated

   Net sales	Operating income	Ordinary income	Profit attributable to owners of parent	Net income per share
   Previous Forecast (A)	Million Yen 23,500	Million Yen 2,100	Million Yen 2,100	Million Yen 1,900	Yen 75.97
   Revised forecast (B)	27,000	3,500	3,700	3,500	139.94
   Change (B－A)	3,500	1,400	1,600	1,600
   Rate of change (%)	14.9	66.7	76.2	84.2
   (Ref.) Results for the year ended March 31, 2016	22,270	1,954	2,092	1,825	73.00

2. Non-Consolidated

Net sales	Ordinary income	Net income	Net income per share
Previous Forecast (A)	Million Yen 21,000	Million Yen 1,000	Million Yen 660	Yen 26.39
Revised forecast (B)	24,500	2,100	2,600	103.96
Change (B－A)	3,500	1,100	1,940
Rate of change (%)	16.7	110.0	293.9
(Ref.) Results for the year ended March 31, 2016	20,700	1,070	1,735	69.41

（Note）The figures indicated above as the results for the year ended March 31, 2016 are after retroactive application of the change of the Company's accounting policies (change of revenue recognition standard).

＜Reasons for Revisions＞

In this cumulative third fiscal quarter, net sales of transfer type molding systems has increased mainly in China more than the Company expected at the beginning of this fiscal year. Also, net sales of compression type molding systems and molds for manufacture of finger print recognition sensors has increased.

Now the Company expects net sales of this fiscal year will exceed the previous forecast announced on May 10, 2016.

And also, the Company expects the results, such as operating income and ordinary income, of this fiscal year will exceed the previous forecast.

Accordingly, the Company revises the previous forecast for the fiscal year ending March 31, 2017 as the above.