Mitsui O.S.K. Lines, Ltd. Announces Revision of FY2011 Outlook (1st Half)
September 30, 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)
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.