Mitsui OSK Lines : O.S.K. Lines, Ltd. Announces Revision of FY2016 Outlook and Year-end Dividend Outlook
January 31, 2017 at 09:24 am IST
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January 31, 2017
Mitsui O.S.K. Lines, Ltd. Announces Revision of FY2016 Outlook and Year-end Dividend Outlook
TOKYO-Mitsui O.S.K. Lines, Ltd. (the Company; President & CEO: Junichiro Ikeda) today announced a revision of its consolidated business outlook for fiscal year 2016 (April 1, 2016 to March 31, 2017) based on recent business performance, and a revised outlook for the year-end dividend, announced on October 31, 2016, as follows.
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+ - -
Revisions to the consolidated business outlook for FY2016 (April 1, 2016 to March 31, 2017)
Revenue
OperatingIncome/ Loss
Ordinary Income/Loss
NetIncome/ Loss*
NetIncome/Loss perShare
Previous Outlook (A)
¥ million 1,413,000
¥ million
-15,000
¥ million
-3,000
¥ million
7,000
¥ 5.85
Revised Outlook (B)
1,482,000
-8,000
8,000
0
0.00
Change (B A)
69,000
7,000
11,000
-7,000
Change (%)
4.9%
-100.0%
(Ref)FY2015(endedinMarch2016)
1,712,222
2,323
36,267
-170,447
-142.50
* Profit/loss attributable to owners of parent
Reason for revision of outlook
In comparison with the previous outlook announced on October 31, 2016, despite higher bunker prices, the Company made an upward revision of operating loss and ordinary income/loss in anticipation of the positive effects of improved operational efficiency in the bulkship business, increased liftings mainly on the Asia-North America route in the containership business, and reduction of operating costs such as expenses for positioning empty containers through improved yield management, along with the positive impact of the weakening yen.
On the other hand, the Company conservatively reviewed the consolidated business outlook and made a downward revision of net income* due to concerns about possibility for more impairment of owned containerships depending on future trend in ship prices, which showed a significant drop over the past year, and the future cash flow, which will be planned.
Year-end dividend outlook
Dividend per Share
Base Date
Q2-end
Year-end
Total
Previous Outlook (Announced on October 31, 2016)
¥2.00
To be decided
To be decided
Revised Dividend Outlook
¥0
¥2.00
Paid for FY2016
¥2.00
Paid for FY2015
¥3.50
¥1.50
¥5.00
Reason for revision of outlook
After careful consideration of its financial position etc, the Company regrets to announce that it has decided not to pay a year-end dividend for the current fiscal year, which was previously undecided.
[Note] The future outlook described above 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.
Mitsui OSK Lines Ltd. published this content on 31 January 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 31 January 2017 03:54:04 UTC.
Original documenthttp://www.mol.co.jp/en/ir/data/pdf/news_170131e.pdf
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Mitsui O.S.K. Lines, Ltd. specializes in sea transport services. Net sales break down by activity as follows:
- transportation of dry bulk (28.4%);
- transportation of petroleum products and natural gas (23.2%);
- operation of container ships (21.8%);
- operation of car carriers, ro-ro and cruise ships (18.8%);
- other (7.8%): primarily logistics and port services.
At the end of March 2022, the group operates a fleet of 698 vessels.