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Press Release

Notice regarding the Amendment to the Consolidated
Forecast for the Fiscal Year Ending March 31, 2014

March 11, 2014
Cosmo Oil Co., Ltd.



Amendments have been made to the consolidated forecast for the fiscal year ending March 31, 2014 as follows:

●Amendments to the consolidated forecast for the fiscal year ending March 31, 2014

(Unit: million JPY)
  Net sales Operating
income
Ordinary
income
Net income Net income
per share
Forecast previously announced (A)
(on Nov 5, 2013)
3,560,000 52,000 54,000 14,000 yen sen
16.53
Revised forecast (B) 3,560,000 42,000 44,000 2,500 2.95
Change (B-A) - -10,000 -10,000 -11,500  
Change - -19.2% -18.5% -82.1%  
(Reference)Last year results
(Ending March. 31, 2013)
3,166,689 52,422 48,439 -85,882 -101.39

●Reason for Amendment

The main reasons for the amendment are attributable to a decrease in operating income, ordinary income and net income due to weak product market and the reduced sales volume in the petroleum business, compared to the forecast previously announced . This business outlook is based on an oil price at US$104.7 per bbl and an exchange rate at JPY100.1 per US$ for the full FY2013.
(Assumptions at the previous forecast: a crude oil price of US$104.9 per bbl and an exchange rate of JPY98.9 per US$ )

  • (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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