Next we will explain the earnings forecast for fiscal year 2016.
As we also stated in describing the 1st quarter, we have experienced a stronger foreign exchange impact in this period than in the previous year. The yen rose suddenly right after Brexit, and it has been fluctuating wildly since then. It is difficult to predict what exchange rates will do. We are looking cautiously at the euro in particular, because of its significant impact on our revenue. Our assumption for the 2nd quarter and beyond is that the dollar will be at ¥105 and the euro at ¥115. This revision places the yen ¥5 stronger against the euro than in our initial assumptions. We have also revised the assumptions regarding currencies other than the US dollar and the euro that are showing increasing effects from fluctuation, such as the Chinese yuan and the Australian dollar. These effects have been incorporated into the forecast.
On the business side, we have incorporated the harsh outlook for the Industrial Business, particularly in TAC film.
Taking the forecast for 1st quarter results and the outlook into consideration in this way, we have decided to revise the business performance forecast for the full fiscal year 2016, which was announced on May 12. The forecast figures are now a revenue of ¥1.03 trillion, an operating profit of ¥55.0 billion, and a profit of ¥36.0 billion. Revenue is on a level with the previous year, and though operating profit has changed from the initial growth plan to show a decrease instead, we are holding to the growth plan for profit that shows a 13% increase year on year.
With regard to dividends, although there is a downward adjustment this quarter, the growth plan for profit remains unchanged. In light also of the importance we place on return to shareholders who hold shares for the long term, we have decided to hold to the initial forecast of ¥30 per share for the year (¥15 interim and year-end dividends).
As we also stated in describing the 1st quarter, we have experienced a stronger foreign exchange impact in this period than in the previous year. The yen rose suddenly right after Brexit, and it has been fluctuating wildly since then. It is difficult to predict what exchange rates will do. We are looking cautiously at the euro in particular, because of its significant impact on our revenue. Our assumption for the 2nd quarter and beyond is that the dollar will be at ¥105 and the euro at ¥115. This revision places the yen ¥5 stronger against the euro than in our initial assumptions. We have also revised the assumptions regarding currencies other than the US dollar and the euro that are showing increasing effects from fluctuation, such as the Chinese yuan and the Australian dollar. These effects have been incorporated into the forecast.
On the business side, we have incorporated the harsh outlook for the Industrial Business, particularly in TAC film.
Taking the forecast for 1st quarter results and the outlook into consideration in this way, we have decided to revise the business performance forecast for the full fiscal year 2016, which was announced on May 12. The forecast figures are now a revenue of ¥1.03 trillion, an operating profit of ¥55.0 billion, and a profit of ¥36.0 billion. Revenue is on a level with the previous year, and though operating profit has changed from the initial growth plan to show a decrease instead, we are holding to the growth plan for profit that shows a 13% increase year on year.
With regard to dividends, although there is a downward adjustment this quarter, the growth plan for profit remains unchanged. In light also of the importance we place on return to shareholders who hold shares for the long term, we have decided to hold to the initial forecast of ¥30 per share for the year (¥15 interim and year-end dividends).