| 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
| 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$104.9 per bbl and an exchange rate of JPY98.9 per US$ )
