Key Developments: Cosmo Oil Co Ltd (5007.T)
11 Jul 2014
Latest Key Developments (Source: Significant Developments)
COSMO OIL CO LTD:Sees year-end dividend of 2.00 yen per share, for fiscal year ending March 2014. Full Article
COSMO OIL CO LTD:Full-year consolidated outlook for revenue of 3,560,000 mln yen, for fiscal year ending March 31, 2014.Full-year operating profit outlook of 42,000 mln yen lowered from 52,000 mln yen.Full-year ordinary profit outlook of 44,000 mln yen lowered from 54,000 mln yen.Full-year net profit outlook of 2,500 mln yen lowered from 14,000 mln yen.Full-year earnings per share outlook of 2.95 yen lowered from 16.53 yen.Profit outlook lowered due to sluggish oil business and decrease in sales volume.FY 2014 revenue of 3,561,100 mln yen, operating profit of 42,210 mln yen and net profit of 13,420 mln yen - Thomson Reuters I/B/E/S. Full Article
COSMO OIL CO LTD announces strategic comprehensive cooperation with Compañía Española de Petróleos, S.A.U.
COSMO OIL CO LTD:Says the company and Compañía Española de Petróleos, S.A.U. (CEPSA) have agreed and signed a Memorandum of Agreement (MOA) in relation to strategic comprehensive cooperation in oil related business, on Jan. 21, with a term of two years.Says the parties are determined to seek opportunities to obtain new oil and gas concessions and/or expand their exploration and production (E&P) business by further promoting and enhancing potential oil and gas E&P business.Says the parties will create an E&P Working Group and a Strategy Working Group as driving forces to achieve the objectives of this MOA. Full Article
COSMO OIL CO LTD:Says to transfer its oil development business to a newly established subsidiary.Says the new subsidiary will be engaged in strategy planning of energy resource development business, among others, with a registration capital of 10,000 million yen.Says change effective Feb. 28, 2014. Full Article
COSMO OIL CO LTD announced that it has raised its full-year consolidated outlook for revenue from JPY 3,550,000 million to JPY 3,560,000 million, and lowered its full-year consolidated outlook for operating profit from JPY 64,000 million to JPY 52,000 million, ordinary profit from JPY 61,000 million to JPY 54,000 million, net profit from JPY 16,000 million to JPY 14,000 million, and earnings per share from JPY 18.89 to JPY 16.53, for the fiscal year ending March 31, 2014. The Company lowered its full-year consolidated outlook for operating profit, ordinary profit and net profit mainly due to the sluggish oil product market and decrease in sales volume from oil development business. According to I/B/E/S Estimates, analysts on average are expecting the Company to report its full-year consolidated outlook for revenue of JPY 3,555,770 million, operating profit of JPY 62,300 million and net profit of JPY 21,790 million, for the same fiscal year. Full Article
COSMO OIL CO LTD announced that it has decided to apply for delisting from the Nagoya Stock Exchange due to cost reduction. The application will be submitted on November 5, 2013. Full Article
COSMO OIL CO LTD Lowers Full-year Consolidated Outlook and Cancels Year-end Dividend Payment for FY 2013
COSMO OIL CO LTD announced that it has lowered its full-year consolidated outlook for revenue from JPY 3,350,000 million to JPY 3,040,000 million, operating profit from JPY 96,000 million to JPY 28,000 million, ordinary profit from JPY 94,000 million to JPY 25,000 million, net profit (loss) from JPY 35,000 million to JPY (74,000 million), and earnings (loss) per share from JPY 41.32 to JPY 87.36, for the fiscal year ending March 31, 2013. The Company lowered its full-year consolidated outlook mainly due to the extraordinary loss caused by asphalt leak accident, as well as the suspension of operation for its Chiba refinery. The Company also has cancelled its year-end dividend payment of JPY 8.00 per share, which was announced on May 8, 2012, for the same fiscal year, Full Article
COSMO OIL CO LTD announced that it has lowered the consolidated mid-year forecast for revenue from JPY 1,620,000 million to JPY 1,460,000 million, operating profit (loss) from JPY 28,000 million to JPY (22,000 million), ordinary profit (loss) from JPY 26,000 million to JPY (26,000 million), net profit (loss) from JPY 7,000 million to JPY (81,000 million) and earning (loss) per share from JPY 8.26 to JPY (95.62) for the fiscal year ending March 31, 2013. The Company lowered the consolidated mid-year outlook due to increased costs. Full Article
TOKYO, Jan 21 - Japanese oil refiner Cosmo Oil Co and Spain-based Compania Espanola de Petroleos (CEPSA) have agreed to work together on crude and natural gas development, the Japanese company said on Tuesday.