| May 13, 2014 |
| Cosmo Oil Co., Ltd. |
The Company reports that differences were recorded between the forecast announced on March 11, 2014 and actual results for FY2013 (ending March 31, 2014).
1. Differences recorded between the forecast and actual results for FY2013 (April 1, 2013- March 31, 2014).
(Consolidated)
| Net sales | Operating income |
Ordinary income |
Net income | Net income per share |
|
|---|---|---|---|---|---|
| Forecast previously announced (A) (on March 11, 2014) |
3,560,000 | 42,000 | 44,000 | 2,500 | yen sen 2.95 |
| Revised forecast (B) | 3,537,782 | 39,715 | 41,847 | 4,348 | 5.13 |
| Change (B-A) | -22,218 | -2,285 | -2,153 | 1,848 | |
| Change | -0.6% | -5.4% | -4.9% | 73.9% | |
| (Reference)Last year results (Ending March. 31, 2014) |
3,166,689 | 52,422 | 48,439 | -85,882 | -101.39 |
2. Reasons for Differences
Compared with the previous forecast (announced on March 11, 2014), operating income and ordinary income were decreased mainly because of a drop in crude oil prices which caused inventory valuation loss under lower-of-cost-or-market method in petroleum business.
On the other hand, net income was increased chiefly because of upward revision of profits of consolidated subsidiaries. The revision was attributed to a consolidated taxation system which was introduced this fiscal year.
(Assumptions at the previous forecast: a crude oil price of US$104.7/bbl and an exchange rate of JPY100.1/US$ )
