Mitsui O.S.K. Lines, Ltd. Announcement of Revision of FY2009 Outlook
July 27, 2009
TOKYO - Mitsui O.S.K. Lines, Ltd. (the Company; President: Akimitsu Ashida) today announced a revision of its FY2009 business outlook issued on April 27, 2009, as follows:
Reasons for revision of outlook
In the second quarter, the Company expects deterioration of freight rates, stagnation of cargo trade mainly for containerships, and a delay in the recovery of completed car exports, along with a substantial rise in bunker prices. These factors are expected to deteriorate profits significantly more than we expected in the previous outlook.
In the third and fourth quarters, the Company anticipates that the external conditions will not reverse the deteriorations in the first half. Based on this prospect, the Company made a downward revision of its earlier announced outlook for FY2009.
Forward looking statement
Future outlooks such as plans and strategies related to matters other than the past and present facts in this press release contain potential risks and uncertainties, and are not guaranteed. These outlooks are issued by the Company according to currently available information. Please realize that actual achievement may be significantly different from these outlooks, due to various factors such as future economic trends, market demand, exchange rates, bunker prices, other economic, social, and political situations, and various contingencies.