SOURCE: RHJ International SA

November 15, 2006 04:58 ET

Asahi Tec Corporation: Notice of Revised Business Result Forecast

BRUSSELS, BELGIUM -- (MARKET WIRE) -- November 15, 2006 --



Brussels - November 15, 2006 - RHJ International (the "Company"), a limited liability company organized under the laws of Belgium, having its registered office at Avenue Louise 326, 1050 Brussels, announces that Asahi Tec Corporation, filed with the Tokyo Stock Exchange on November 15, 2006 a notice of revised forecast for its interim results for the fiscal year 2006 ending on March 31, 2007.

Asahi Tec Corporation is one of the current seven portfolio companies of the Company. Asahi Tec Corporation, established in 1938, primarily designs, manufactures and sells ductile iron cast auto parts for truck and construction machinery OEMs, aluminium casting parts for truck automobile OEMs and aluminium wheels for automobile OEMs. Asahi Tec also designs, manufactures and sells environmental systems, equipment and development technologies used by local governments and municipalities and electrical hardware and equipment used by electricity generators.

Asahi Tec Corporation is listed on the first section of the Tokyo Stock Exchange under the ticker 5606.

The Company currently holds approximately 62.8% of Asahi Tec's issued and outstanding shares (not including the exercise of any stock acquisition rights).

DISCLAIMER

This announcement does not constitute an offer or invitation to purchase any securities.

FORWARD-LOOKING STATEMENTS

The attached announcement contains forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on the current plans, estimates and projections of Asahi Tec Corp. as well as on its expectations of external conditions and events. Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Neither the Company nor Asahi Tec Corp. undertakes to update any of the statements in light of new information or future events, except to the extent required by applicable law.


For further information, please contact :

Arnaud DENIS
Investor Relations Manager
RHJ International
e-mail : adenis@rhji.com


November 15, 2006


Company Name:           Asahi Tec Corporation
Representative:         Akira Nakamura
                        President and CEO
                        Code No. 5606 Tokyo Stock Exchange  1st
                        section
Contact:                Takao Yoshida
                        Managing Executive Officer and CFO
Phone:                  (+81-537-36-3103)

Notice of Revised Business Result Forecast

In light of recent business trend, the interim business result forecast for the first half of the fiscal year ending March 31, 2007 issued on August 4, 2006 has been revised as below.

1. Revision of interim forecast (April 1, 2006 - September 30, 2006, Stand-alone basis)


+-------------------------------------------------------------------+
|                             |   Sales    |     Ordinary |     Net |
|                             |            |    Income    | Income  |
|-----------------------------+------------+--------------+---------|
|    Previous forecast (A)    |     21,000 |           70 |     -60 |
| (issued on August 4, 2006)  |            |              |         |
|-----------------------------+------------+--------------+---------|
|    Revised forecast (B)     |     21,458 |          534 |     269 |
|-----------------------------+------------+--------------+---------|
|       Difference (A-B)      |        458 |          464 |     329 |
|-----------------------------+------------+--------------+---------|
|      Difference ratio       |       2.2% |       662.9% |  548.3% |
|-----------------------------+------------+--------------+---------|
|  September 30, 2005 Actual  |     21,522 |           14 |    -526 |
|           Results           |            |              |         |
+-------------------------------------------------------------------+



2. Revision of interim forecast (April 1, 2006 - September 30, 2006, Consolidation basis)


+-------------------------------------------------------------------+
|                             |   Sales    |     Ordinary |     Net |
|                             |            |    Income    | Income  |
|-----------------------------+------------+--------------+---------|
|    Previous forecast (A)    |     43,000 |          600 |      70 |
| (issued on August 4, 2006)  |            |              |         |
|-----------------------------+------------+--------------+---------|
|    Revised forecast (B)     |     44,042 |          997 |     283 |
|-----------------------------+------------+--------------+---------|
|       Difference (A-B)      |      1,042 |          397 |     213 |
|-----------------------------+------------+--------------+---------|
|      Difference ratio       |       2.4% |        66.2% |  304.3% |
|-----------------------------+------------+--------------+---------|
|  September 30, 2005 Actual  |     26,407 |          723 |     -49 |
|           Results           |            |              |         |
+-------------------------------------------------------------------+



3. Reason of revision

Sales are expected to exceed the previous forecast in wake of a higher demand for parts of trucks and for news parts of motorcycles. Also, ordinary income and net income are expected to exceed the previous forecast due to sales increase, improved cost reduction, and reversal of provision for loss on sales triggered by change in business environment and improved profitability. For above reasons, we revised business result forecast for the first half of the fiscal year ending March 31, 2007 (Note) for stand-alone and consolidated financial results. We are expecting the forecast of annual results for the year ending March 31, 2007 to stay at levels of previously announced figure, but we will immediately disclose any revisions whenever such disclosure is deemed necessary.

(Note)

This does not take into account Metaldyne Coproation's forecast fo the year ending March 31, 2007. The above revised forecasts are based on the information available as of the date of disclosure of this notice, and actual outcomes may differ from the above forecasts due to the various factors.


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