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Information about the Amendment to the Consolidated Business Outlook & the Occurrence of Extraordinary loss

November 2, 2011
Cosmo Oil Co., Ltd.
Corporate Communication Dept. Public Relations Office

Based on the latest business trends and other factors, amendments have been made to the consolidated business outlook for FY2011 (ending March 31, 2012), previously announced on May 9, 2011, as follows.

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

    (Unit:million yen)

      Net sales Operating
    Income
    Ordinary
    Income
    Net income Net income
    Per share
    Previously announced forecast(A)
    (on May 9, 2011)
    2,920,000 90,000 84,000 28,000 yen sen
    33.05
    Currently amended forecast(B) 3,070,000 74,000 72,000 13,000 15.35
    Change(B-A) 150,000 - 16,000 - 12,000 - 15,000 -
    Change(%) 5.1 - 17.8 - 14.3 - 53.6 -
    Previous year results
    (ended March 31, 2011)
    2,771,523 104,097 96,094 28,933 34.16
  2. Amendments to the Non-Consolidated Business Outlook for FY2011 (April 1, 2011 to March 31, 2012)

    (Unit:million yen)

      Net sales Operating
    Income
    Ordinary
    Income
    Net income Net income
    Per share
    Previously announced forecast(A)
    (on May 9, 2011)
    2,680,000 28,000 24,000 13,000 yen sen
    15.34
    Currently amended forecast(B) 2,690,000 12,000 17,000 3,000 3.54
    Change(B-A) 10,000 - 16,000 - 7,000 - 10,000 -
    Change(%) 0.4 - 57.1 - 29.2 - 76.9 -
    Previous year results
    (ended March 31, 2011)
    2,551,325 53,107 50,534 20,751 24.49
  3. Reasons for the Amendments
    1. Occurrence of Extraordinary loss
      It is expected to occur loss on disaster of about \14.0 billion as extraordinary loss in FY2011, such as additional costs for removal/restoration of the assets damaged by the Great East Japan Earthquake on Mar. 11, 2011 and expenses incurred during the period of suspended operations in the Chiba Refinary.
    2. Reasons for the Amendments
      As for consolidated business outlook for the full year of FY2011, the impact of suspended operations of the Chiba Refinery in the petroleum business segment is anticipated to reduce operating income and ordinary income as compared with the previous forecast, and losses on the disaster recorded in FY2011 are anticipated to reduce net income for the year to be lower than the previous forecast.
      The above updated business outlook is based on the assumptions of a crude oil price at US$108.0 per bbl and an exchange rate of \78.9 per US$ for the full year of FY2011.
      (The previous assumptions (announced on May 9, 2011) of a crude oil price of US$100.0 per bbl and an exchange rate of \82.5 per US$.)

(Note) The above business outlook is based on information available as of the published date of this release and actual results may materially differ from the forecast subject to variable factors that may arise in the future.


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