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Press Release

Information about Differences between the Forecast and Actual Results for the First Half of the Fiscal Year Ending March 31, 2015

November 6, 2014
Cosmo Oil Co., Ltd.

The Company reports that differences were recorded between the forecast announced on May 13, 2014 and the actual results for the first half of the fiscal year ending March 31, 2015.

Differences recorded between the consolidated forecast and the actual results for the first half of the fiscal year ending March 31, 2015 (April 1, 2014- September 30, 2014).

(Unit: million yen, %)
  Net sales Operating
income
Ordinary
income
Net income Net income
per share
Previously announced forecast (A)
(on May 13, 2014)
1,625,000 15,000 12,000 -7,000 yen sen
-8.26
Actual results (B) 1,552,474 12,700 4,886 -15,307 -18.07
Change (B-A) -72,526 -2,300 -7,114 -8,307  
Change (%) -4.5% -15.3% -59.3%    
(Reference)Last year results
(Ending September 30, 2013)
1,653,516 15,651 18,377 1,199 1.42

Reasons for Differences

Compared with the forecast announced on May 13, 2014, operating income, ordiary income and net income decreased due to impact of an inventory valuation loss that was occurred by crude oil prices decline in the petroleum business segment and weak aromatic product markets in the petrochemical business segment, though domestic product markets in the petroleum business segment were favorable.

(Assumptions at the previous forecast: a crude oil price of US$104.0 per bbl and an exchange rate of \102.0 per US$; actual results: a crude oil price of US$103.8 per bbl and an exchange rate of \103.0 per US$)



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