Alps Electric Co. Ltd. revised consolidated earnings guidance for the fiscal year ending March 31, 2016. For the period, the company now expects net sales of JPY 775,000 million, operating income of JPY 52,500 million, ordinary income of JPY 51,500 million, profit attributable to owners of parent of JPY 40,000 million and net income per share of JPY 213.64 compared to the previous guidance of net sales of JPY 778,000 million, operating income of JPY 60,500 million, ordinary income of JPY 59,500 million, profit attributable to owners of parent of JPY 49,500 million and net income per share of JPY 268.23.

During the fiscal year ending March 31, 2016, the business environment of the Electronic Components segment improved as the yen weakened more than anticipated. In addition, both net sales and profits are expected to be lower than the previous forecast even though sales of products for the automotive market were strong, as sales of smartphone products to some leading customers were sluggish.