Park24 Co., Ltd. announces that differences have arisen between the business forecasts for the first six months (November 1, 2008 to April 30, 2009) of the fiscal year ending October 2009, which were published on December 16, 2008, and the actual results for the first half published today. Details are as follows.
 Park24 also announces that it has adjusted its consolidated and non-consolidated business forecasts for the current fiscal year, which were published on December 16, 2008 and March 24, 2009.

1. Differences between business forecasts and actual results for the first half of the fiscal year ending October 2009

(1) Differences between consolidated business forecasts and actual consolidated results (November 1, 2008 to April 30, 2009)

(2) Differences between non-consolidated business forecasts and actual non-consolidated results (November 1, 2008 to April 30, 2009)

2. Adjustment of Business Forecasts for the Current Fiscal Year Ending October 2009

(3) Adjustment of Consolidated Business Forecasts (November 1, 2008 to October 31, 2009)

(2) Adjustment of Non-consolidated Business Forecasts (November 1, 2008 to October 31, 2009)

3.Reasons for Differences Between Business Forecasts and Actual Results for the First Half and Adjustment of Business Forecasts for the Current Fiscal Year

In Parking Facilities Operations, the number of new high quality properties increased thanks to the development of rigorously selected parking facilities amid favorable conditions for development. In addition, the total number of parking spaces managed rose due to fewer cancellations on grounds such as construction and sale, and net sales grew.  

Although the cost of sales increased owing to the rise in the number of newly developed parking spaces and the reduction in cancellations, this was offset by the growth in sales, and operating profit, recurring profit and net income all exceeded estimates.

Business forecasts for the current fiscal year only take into account adjustments for the first half, as the course of the economy in the second half is unclear.

(Note) The business forecasts above are based on information available as of the date of this release. Actual business results may differ materially from these forecasts due to various factors in the future.