9104 Mitsui O.S.K. Lines Q3 2016 Earnings / Profit warning

Quarterly Earnings


Sales: 1,317,134 (Yen in millions)
Operating Income: 9,586
Ordinary Income: 38,792  / Consensus: 33,415
Net Income: 13,294
EPS: 11.11  (Yen)

Profit warning



Previous earnings forecast
Sales: 1,758,000  (Yen in millions)
Operating Income: 5,000
Ordinary Income: 42,000
Net Income: 17,000
EPS: 14.21  (Yen)
Revised forecast
Sales: 1,720,000  (Yen in millions)
Operating Income: (5,000)
Ordinary Income: 32,000
Net Income: (175,000)
EPS: (146.31)  (Yen)

 It is a bad surprise.

Baltic Dry Index is still low.

Structural Reform


Mitsui record an extraordinary loss in Q4 as the disposal cost of the ships.
At most 180MM Yen.


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