Mitsui O.S.K. Lines, Ltd. (the Company; President & CEO: Junichiro Ikeda) today announced a
revision of its consolidated business outlook for the first half of fiscal year 2018 (April 1, 2018 to September 30,
2018), announced on July 31, 2018, as follows.
1. Revisions to the consolidated business outlook for the first half of FY2018 (April 1, 2018 to September 30,
2018)

2. Reason for revision of outlook
For the Company’s consolidated business outlook for the first half of FY2018, operating profit is expected to
increase due to lower-than-expected transitional costs related to the integration of the containership
business, in addition to the depreciation of the yen, which remained below the assumption for foreign
exchange. On the other hand, the equity-method company Ocean Network Express Pte. Ltd. (hereinafter
referred to as “ONE”) is expected to show a downturn because cargo liftings were lower than the outlook
etc., expectedly resulting in a deterioration in ordinary profit and net income of the Company. Therefore, the
Company revised the previously announced outlook.
Meanwhile, please refer to the timely disclosure announced today: “Notice of Revisions of First Half and Full
Year Consolidated Business Outlooks of Integrated Container Shipping Operating Company Ocean Network
Express Pte. Ltd.” for the revision of ONE’s consolidated business outlooks.
The Company is now examining the full fiscal year business outlook, and plans to issue it at the time of
announcing the second quarter consolidated financial results (scheduled for October 31, 2018).

[Note] The future outlook described above is issued by the Company on the basis of currently available
information as of the announcement date. Please note that the actual results may differ from this outlook due to
various factors in the future.