Mitsui O.S.K. Lines, Ltd. Announces Revision of FY2011 Outlook

TOKYO - Mitsui O.S.K. Lines, Ltd. (the Company; President: Koichi Muto) today announced a revision of its consolidated business outlook for FY2011 (April 1, 2011 to March 31, 2012), issued on July 29, 2011, as follows:

Revisions to the consolidated business outlook for FY2011
(April 1, 2011 to March 31, 2012)

	Revenue	Operating Income	Ordinary Income	Net Income	Net Income per share
Previous outlook (A)	¥mil. 1,500,000	¥mil. 35,000	¥mil. 35,000	¥mil. 17,000	¥ 14.22
Revised outlook (B)	1,450,000	0	0	-4,000	-3.35
Change (B)-(A)	-50,000	-35,000	-35,000	-21,000
Change (%)	-3.3%	-100.0%	-100.0%	-
(Ref) FY2010 (ended in March 2011) results	1,543,660	123,400	121,621	58,277	48.75

Reasons for revision of outlook
The Company made a downward revision of the consolidated outlook for FY2011 because it anticipates a significant deterioration in profit due to loss on valuation of investment securities caused by the decline in stock market prices, in addition to other negative factors such as falling container freight rates in the Asia-Europe and Asia-North America routes, a delay in turnover in the tanker market, and the ongoing appreciation of the yen, although the dry bulker market remains steady.

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.