text: In light of these factors, our forecast for fiscal 2005 is as follows. This is based on a foreign 
  
  exchange rate assumption for the year of ¥105 per dollar and ¥130 per euro: 
  
  • Net revenue is predicted to be ¥9 trillion, up 4.9 percent. 
  
  • Operating profit is expected to be ¥870 billion, up 1 percent. 
  
  • Ordinary profit is expected to reach ¥860 billion, up 0.5 percent. 
  
  • Net income is predicted to be ¥517 billion, up 0.9 percent. 
  
  • Capital expenditures are expected to reach ¥540 billion, up 13.1 percent. 
  
  • R&D expenses are forecast to reach ¥450 billion, or 5 percent of net sales, up 13.0 percent. 
  
  • ROIC is expected to remain at or above 20 percent. 