Skip navigation

Press Release

Notice regarding the Amendment to the Consolidated Forecast for the Fiscal Year Ending March 31,
2015 and the Amendment to the Dividend Forecast

February 5, 2015
Cosmo Oil Co., Ltd.

Amendments have been made to the consolidated forecast and the dividend forecast for the fiscal year ending March 31, 2015 as follows:

●Amendments to the consolidated forecast for the fiscal year ending March 31, 2015

(Unit: million JPY)
  Net sales Operating
income
Ordinary
income
Net income Net income
per share
Forecast previously announced (A)
(on May 13, 2014)
3,465,000 62,000 57,000 14,000 yen sen
16.53
Revised forecast (B) 3,071,000 -44,000 -57,000 -91,000 -107.43
Change (B-A) -394,000 -106,000 -114,000 -105,000  
Change -11.4% - - -  
(Reference)Last year results
(Ending March. 31, 2014)
3,537,782 39,715 41,847 4,348 5.13

Reason for Amendment

The petroleum business segment performance excluding impact of inventory valuation is expected to exceed the previous forecast announced on May 13, 2014.
However, the main reason for this downward revision is that the inventory valuation loss is expected to exceed the previous forecast due to the decline in crude oil prices. This business outlook is based on the assumptions of a crude oil price at US$45.0 per bbl and an exchange rate at JPY120.0 per US$ for the last three months of FY2014 and based on the assumptions of a crude oil price at US$81.7 per bbl and an exchange rate at JPY110.1 per US$ for the full year of FY2014
(Assumptions at the previous forecast: a crude oil price US$104.0 per bbl, an exchange rate JPY102.0 per US$ )

  • (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.

●Amendments to the dividend forecast for the fiscal year ending March 31, 2015

  Annual dividend per share Total
As of Q1-end As of Q2-end As of Q3-end As of Fiscal
Year-end
Full year
Forecast Previously announced
(on May 13, 2014)
yen sen
-
yen sen
-
yen sen
-
yen sen
4.00
yen sen
4.00
Revised forecast
(for the YearEnding March 31, 2015)
- - - 0.00 0.00
Dividend paid
(for the YearEnding March 31, 2015)
- 0.00 -    
(Reference)Dividend paid
(for theYear Ending march 31, 2014)
- 0.00 - 2.00 2.00

Reason for Amendment

Paying stable dividends is our priority policy for returns to stockholders.
However, after a careful and comprehensive consideration including the recent revision to the financial forecast,
we sincerely regret to announce non-dividend for this fiscal year.



Copyright© COSMO ENERGY HOLDINGS Co.,Ltd. All Rights Reserved