September 30, 2008


Revision of Forecasts for Consolidated Sales and Income for Fiscal Year Ending March 2009
Avex Group Holdings Inc. announced today that the forecasts for consolidated sales and income for the fiscal year ending March 31, 2009 stated in the Consolidated Financial Summary for the Three-Month Period Ended June 30, 2008 dated August 8, 2008 have been revised. Details are as follows: 1. Revision of Forecasts for Consolidated Sales and Income for the Fiscal Year Ending March 2009
(for the period from April 1, 2008 to March 31, 2009)
(
Unit: million yen)

Sales
Operating income Ordinary income Net income (loss)
Previous forecast (A)
117,900
8,500
7,000
3,000
This revision (B)
117,900
7,000
5,500
2,000
Change (B - A)
±0
(1,500)
(1,500)
(1,000)
Change ratio
−

(17.6%)
(21.4%)
(33.3%)
For reference: Results for the year ended March 2008
104,639
8,510
7,066
909
2. Reason for Revision As announced today in the Notice Concerning Establishment of Joint Venture, Avex Entertainment Inc., a wholly owned subsidiary of Avex Group Holdings Inc., will establish a joint venture (a sub-subsidiary of Avex Group Holdings Inc.). Although the joint venture plans to start operation in February 2009, it launches advertising campaigns for customers in the fiscal year ending March 2009. As a consequence, only expenses, and not sales, will be recorded during the fiscal year. We therefore revise the consolidated forecasts for the full year as stated above. There will, however, be no change in the dividend forecast for the fiscal year ending March 2009. *Cautionary statement concerning forward-looking statements The forecasts for operating results and others contained in this release were prepared based on currently available data and information. Therefore, the forecasts include potential risks and uncertain elements. Particularly, in the Group’s business domain there are various other factors besides general economic conditions that may affect our business performance. Please note, therefore, that actual results may differ from the forecasts.
Contact: Avex Group Holdings Inc.
Investors & Public Relations Room +81-3-5413-8508