Mitsui O.S.K. Lines, Ltd. has announced a revision of its consolidated business outlook for fiscal year 2020 (April 1, 2020 to March 31, 2021), reads a press release by the company.
1. Revisions to the consolidated business outlook for FY2020 (April 1, 2020 to March 31, 2021)
The consolidated business outlook for the first quarter of fiscal year 2020 is not revised at this time, and the Company plans to announce the results on July 31, 2020.
2. Reason for revision of outlook
On April 30,2020, the Company announced its consolidated business outlook in a range based on two stress scenarios corresponding to the time when the impact of COVID-19 will ease.
As a result of a careful reassessment of the COVID-19 pandemic’s impact on the Company’s business performance, it has concluded that the current situation is close to the scenario of the upper range.
On top of that, by taking into account recent market conditions in the Tanker Business among other factors, it has made an upward revision from the previous announcement.
The future outlook described above is issued by the Company on the basis of currently available information as of the announcement date.
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Source: Mitsui O.S.K. Lines Ltd.
