March 27 (Reuters) - Cirtek Holdings Philippines Corp <TECH.PS>::UNIT ENTERED AN AGREEMENT WITH DENKI KOGYO CO LTD.
Denki Kogyo <6706.T>:Says it will buy 86.6 percent stake in ZEPHYR CORPORATION.
Denki Kogyo Co Ltd:Repurchased 1,400,000 shares at 734,699,000 yen.
Denki Kogyo Co Ltd:To repurchase up to 1,400,000 shares, representing 2.24 pct of outstanding.Says share repurchase up to c,000,000 yen in total.Says repurchase period from Feb. 8 to April 28.
Denki Kogyo Co Ltd:Says the company lowered the consolidated full-year outlook for revenue to 46,800 mln yen from 49,000 mln yen for the fiscal year ending March 31, 2016.Sees a decrease of operating profit forecast to 2,500 mln yen from 3,600 mln yen.Sees a decrease of ordinary profit forecast to 2,600 mln yen from 3,750 mln yen.Sees a decrease of net profit forecast to 2,000 mln yen from 2,350 mln yen.Sees a decrease of earnings per share to 32.19 yen from 37.84 yen.Comments the decreased order volume as the main reason\ for the forecast.
Denki Kogyo Co Ltd:To issue a year-end dividend of 15 yen per share to all the shareholders of record as of March 31, for FY ended March 2015.Payment date June 29.Says latest dividend forecast was 15 yen per share.
Denki Kogyo Co Ltd:Repurchased 1,062,000 shares for 589,928,000 yen in total from March 2 to April 2.Completed the share repurchase plan announced on Feb. 6.Says accumulatively repurchased 1,700,000 shares for 929,362,000 yen in total as of April 2.
Denki Kogyo Co Ltd:To repurchase up to 1,700,000 shares (2.65 pct of outstanding) for up to 1 bln yen, from Feb. 9 to April 9.
Denki Kogyo Co Ltd:Lowered full-year consolidated outlook for fiscal year ending March 31, 2015.Full-year revenue outlook of 47,400 mln yen lowered from 51,100 mln yen.Full-year operating profit outlook of 3,000 mln yen lowered from 3,000 mln yen.Full-year ordinary profit outlook of 3,400 mln yen lowered from 4,500 mln yen.Full-year net profit outlook of 2,200 mln yen lowered from 2,500 mln yen.Full-year earnings per share outlook of 34.53 yen lowered from 39.25 yen.Outlook lowered due to decreased orders in broadcasting and solar power equipment engineering areas, delay in accounting of part of revenue and increased engineering cost.
Denki Kogyo Co Ltd:Says the company increased the consolidated mid-year outlook for revenue to 18,600 million yen from 16,200 million yen for the FY ending March 2015.Operating profit forecast increased to 500 million yen from 300 million yen.Ordinary profit forecast increased to 600 million yen from 400 million yen.Net profit forecast increased to 250 million yen from 100 million yen.Earnings per share increased to 3.93 yen from 1.57 yen.Comments the increased needs of multi-frequency antenna is the main reason for the forecast.