TOKYO—Mitsui O.S.K. Lines, Ltd. (the “Company”) hereby announces differences between the consolidated
business outlook for fiscal year (FY) 2018 (April 1, 2018 – March 31, 2019) announced on January 31, 2019
and the financial results announced today. In addition, the Company announces the board of directors
approved a resolution at the meeting held today to revise the year-end dividend forecast for FY2018 as
(1)Differences between consolidated business outlook and financial results for FY2018 (April 1, 2018 –
March 31, 2019)
|Revenue||Operating Profit||Ordinary Profit||Net
|Previous Outlook (A)||¥ million
|Financial Results (B)||1,234,077||37,718||38,574||26,875||224.72|
|Change (%)||2.0%||7.8% 37.8%||37.8%||28.0%|
|(Ref) FY2017 (ended in
(Note) The Company consolidated its common shares on the basis of one (1) unit for every ten (10) shares effective October 1, 2017. “Net income per share” for the previous year is the value in consideration of the impact of the share consolidation.
[Reason for revisions]
Consolidated ordinary profit ended with an upturn from the previous announcement because of improved equity in earnings of affiliates resulted from a re-evaluation of tax effect accounting due to the tax system revision for some equity-method affiliated companies, as well as an increased number of FPSO (Floating Production Storage and Offloading System) operating days for the Offshore Business, steady performance of the tanker market, and decreased temporary transitional costs related to the integration of the containership business.
|Amount||Most recent dividend
(Announced on January
|Year Ended March
|Record date||March 31, 2019||March 31, 2019||March 31, 2018|
|Year-end dividend per
share of common stock
|25.00 yen||20.00 yen||10.00 yen|
|Total dividend||2,989 million yen||1,195 million yen|
|Effective Date||June 25, 2019||June 26, 2018|
|Source of funds for
|Retained Earnings||Retained Earnings|
[Reason for revision]
We use 20% as a guideline for the dividend payout ratio, and pay dividends in conjunction with
Consolidated performance. Based on the full-year business results for FY2018, we consider the overall situations such as shareholder return and our internal capital reserves and plan to pay a year-end dividend of ¥25 per share, which was ¥20 per share at the previous announcement. As a result, we plan to pay ¥45 per share for the full year.
[REFERENCE PURPOSE ONLY]
This document has been translated from the Japanese original for reference purposes only.
In case of any discrepancy or inconsistency between this document and the Japanese original, the latter shall prevail.