MOL Announces Revision of FY2011 Outlook, 3rd October 2011
News Release
Mitsui O.S.K. Lines, Ltd. (Head Office)
October 4, 2011
3 October 2011, Tokyo — Mitsui O.S.K. Lines, Ltd. (the Company; President: Koichi Muto) today announced a revision of its consolidated business outlook for the first half of FY2011 (April 1, 2011 to September 30, 2011), issued on July 29, 2011, as follows:
Revisions to the consolidated business outlook for the first half of FY2011 (April 1, 2011 to September 30, 2011)
Revenue
Operating
Income
Ordinary
Income
Net
Income
Net
Income
per share
Previous Outlook (A)
¥mil.
720,000
¥mil.
3,000
¥mil.
3,000
¥mil.
1,000
¥
0.84
Revised Outlook (B)
725,000
-9,000
-14,000
-17,000
-14.22
Change (B) – (A)
5,000
-12,000
-17,000
-18,000
……………….
Change %
0.7
-
-
-
……………….
(Ref) 1st half of FY2010
(ended in March 2011)
results
802,839
82,625
80,309
48,251
40.36
Reasons for revision of outlook
The Company revised the consolidated outlook for the first half of FY2011 because it anticipates a significant deterioration in profits due to about ¥8 billion in extraordinary losses stemming from a write-down of investment securities that form part of its owned shares because of the decline in stock market prices, and such factors as falling container freight rates in the Asia-Europe and Asia-North America routes, a downturn in the tanker market, and the appreciation of the yen.
The Company is now reviewing the consolidated business outlook for FY2011, ending March 31, 2012 (April 1, 2011-March 31, 2012), and plans to issue an updated outlook when announcing the consolidated financial results for the first half of FY2011 (scheduled for October 31, 2011).
Note: The above future outlook is issued by the Company on the basis of currently available information as of the announcement date. Please note that the actual results may differ from this outlook due to various factors in the future.
Revisions to the consolidated business outlook for the first half of FY2011 (April 1, 2011 to September 30, 2011)
Revenue
Operating
Income
Ordinary
Income
Net
Income
Net
Income
per share
Previous Outlook (A)
¥mil.
720,000
¥mil.
3,000
¥mil.
3,000
¥mil.
1,000
¥
0.84
Revised Outlook (B)
725,000
-9,000
-14,000
-17,000
-14.22
Change (B) – (A)
5,000
-12,000
-17,000
-18,000
……………….
Change %
0.7
-
-
-
……………….
(Ref) 1st half of FY2010
(ended in March 2011)
results
802,839
82,625
80,309
48,251
40.36
Reasons for revision of outlook
The Company revised the consolidated outlook for the first half of FY2011 because it anticipates a significant deterioration in profits due to about ¥8 billion in extraordinary losses stemming from a write-down of investment securities that form part of its owned shares because of the decline in stock market prices, and such factors as falling container freight rates in the Asia-Europe and Asia-North America routes, a downturn in the tanker market, and the appreciation of the yen.
The Company is now reviewing the consolidated business outlook for FY2011, ending March 31, 2012 (April 1, 2011-March 31, 2012), and plans to issue an updated outlook when announcing the consolidated financial results for the first half of FY2011 (scheduled for October 31, 2011).
Note: The above future outlook is issued by the Company on the basis of currently available information as of the announcement date. Please note that the actual results may differ from this outlook due to various factors in the future.