Top Page > Press Release 2007 > Mitsui O.S.K. Lines, Ltd. Announces Revision of FY2007 Forecast and Increases Dividend Projection

Mitsui O.S.K. Lines, Ltd. Announces
Revision of FY2007 Forecast and Increases Dividend Projection

October 30, 2007

TOKYO -- Mitsui O.S.K. Lines, Ltd. (the Company; President: Akimitsu Ashida) today announced revised forecast for FY2007 and a resolution to increase dividend payments announced on July 27, 2007, as follows:

1.Revision of FY2007 Forecast (From April 1, 2007 to March 31, 2008)

2.Reasons for revision of forecast

The main reason is the upswing in the dry bulker freight rate market, though bunker prices have remained high and compressed profits. The company made an upward revision in the forecast for FY2007 announced earlier, based on prospects that the ocean shipping market will remain strong during the second half of the year.

3.Details of dividend revision and reasons

At the Board of Directors meeting held on October 30, 2007, the company resolved dividend payments for retained earnings, the base date for which is September 30, 2007 as follows:

The Company regards increasing corporate value with proactive capital investment and direct return of profits to shareholders through dividends as two key management policies, and will maintain a dividend payout ratio of 20% for the foreseeable future, and pay dividend in conjunction with consolidated performance.

Based this revision of its forecast, the Company decided to raise the annual dividend per share to ¥28 (interim: ¥14, year end: ¥14). The interim dividend was resolved at the Board of Directors Meeting on October 30,2007.

Forward Looking statement
Future forecast such as plans and strategies related to matters other than the past and present facts in this press release contains potential risks and uncertainties, and are not guaranteed. These forecasts are issued by the company according to currently available information. Please realize that actual achievement may be significantly different from these forecasts, due to various factors such as future economic trends, competition in the industry, market demands, exchange rates, bunker prices, other economic and social, and political situations, and various contingencies.