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October 31, 2012

Mitsui O.S.K. Lines, Ltd. Announces Differences between the Financial Outlook and Financial Results for 1st half of FY2012 and Revision of FY2012 Outlook

TOKYO - Mitsui O.S.K. Lines, Ltd. (the Company; President: Koichi Muto) today announced differences in its consolidated business outlook for the first half of FY2012 (April 1, to September 30, 2012), issued on October 1, 2012, and the financial results announced today. The Company also announced a revision of its consolidated business outlook for FY2012 ending March 31, 2013, issued on July 31, 2012, as follows:

  • Differences in the consolidated business outlook for the first half of FY2012 (April 1, to September 30, 2012) and the financial results

    (April 1, to September 30, 2012)

      Revenue Operating Income Ordinary Income Net Income Net Income
    per share
    Previous outlook (A) ¥mil.
    755,000
    ¥mil.
    -3,500
    ¥mil.
    -8,500
    ¥mil.
    -13,500
    ¥
    -11.29
    Financial results (B) 756,968 -2,379 -6,793 -13,082 -10.94
    Change (B)-(A) 1,968 1,120 1,706 417  
    Change (%) 0.3 - - -  
    (Ref) 1st half of FY2011
    (ended in March 2012) results
    717,345 -10,054 -12,100 -16,463 -13.77

    Reasons for differences
    Performance of each of business segment including consolidated subsidiaries surpassed previously announced estimates.

  • Revisions to the consolidated business outlook for FY2012 (April 1 ,2012 to March 31, 2013)

      Revenue Operating Income Ordinary Income Net Income Net Income
    per share
    Previous outlook (A) ¥mil.
    1,550,000
    ¥mil.
    16,000
    ¥mil.
    10,000
    ¥mil.
    3,000
    ¥
    2.51
    Revised outlook (B) 1,500,000 -13,000 -22,000 -24,000 -20.07
    Change (B)-(A) -50,000 -29,000 -32,000 -27,000  
    Change (%) -3.2 - - -  
    (Ref) FY2011
    (ended in March 2012) results
    1,435,220 -24,459 -24,320 -26,009 -21.76

    Reasons for revision of outlook
    The Company previously announced a downward revision of its consolidated business outlook for FY2012 because it anticipates a significant deterioration of profits due to loss on the write-down of investment securities as a result of a decline in stock market prices, in addition to other factors such as a delay in the recovery of crude oil tanker, product tanker, and dry bulker markets, and a weakening pace of freight rate improvement in the containership market, compared to the business climate assumed at the time the outlook was previously announced.

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.

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