TSE Relaxed Earnings Forecast Disclosure Rules
Disclosure made more flexible, but dialog emphasized
April 12, 2012
Summary
◆On 23 Mar 2012, TSE relaxed rules for listed firms’ earnings forecasts.
◆Firms were required to provide 1H, full-year forecasts for next-FY sales, op profit, rec profit, net income, EPS, dividends. Firms now have more flexibility to choose which items to include, how to present items, which periods to cover,etc. Changes intended to steer firms preparing disclosure in direction of dialog with investors rather than perfunctory conformation with rules.
◆Relaxed rules to come into effect with financial statement filings with TSE for FY ended Mar 2012.
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