Key Developments: Modec Inc (6269.T)

6269.T on Tokyo Stock Exchange

2,105JPY
21 Nov 2014
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¥-16 (-0.75%)
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Latest Key Developments (Source: Significant Developments)

Modec lowers full-year consolidated net profit outlook for FY 2014
Thursday, 6 Nov 2014 01:30am EST 

Modec Inc:Full-year consolidated outlook for revenue of 300,000 mln yen, for fiscal year ending Dec. 31, 2014.Full-year operating profit outlook of 5,000 mln yen lowered from 8,000 mln yen.Full-year ordinary profit outlook of 13,000 mln yen.Full-year net profit outlook of 5,000 mln yen lowered from 6,500 mln yen.Full-year earnings per share outlook of 93.76 yen lowered from 121.88 yen.Outlook lowered due to machinery and equipment failures occurred in the charter business in Brazil, extraordinary loss relating to skwid, floating wind and current hybrid power generation system, increase in corporate income tax and loss from Brazil-based subsidiary.FY 2014 revenue of 301,730 mln yen and net income of 6,970 mln yen - Thomson Reuters I/B/E/S.  Full Article

Modec Inc amends consolidated full-year outlook for FY 2014
Friday, 8 Aug 2014 02:00am EDT 

Modec Inc:Says the company amended the consolidated full-year outlook for the FY ending Dec. 2014.Confirmed the revenue at 300,000 million yen.Confirmed the operating profit forecast at 8,000 million yen.Confirmed the ordinary profit forecast at 13,000 million yen.Net profit forecast decreased to 6,500 million yen from 8,500 million yen.Earnings per share decreased to 121.88 yen from 183.16 yen.FY 2014 revenues of 314.04 billion yen, reported net profit of 9.15 billion yen – Thomson Reuters I/B/E/S.Comments that effect of reversal of deferred tax assets is the main reason for the forecast.  Full Article

Modec Inc raises consolidated mid-year outlook for FY 2014
Friday, 9 May 2014 02:30am EDT 

Modec Inc:Says the company increased the consolidated full-year outlook for revenue to 150,000 million yen from 120,000 million yen for the fiscal year ending Dec. 2014.Operating profit forecast increased to 2,200 million yen from 1,500 million yen.Ordinary profit forecast increased to 4,200 million yen from 3,500 million yen.Net profit forecast of 2,500 million yen.Earnings per share of 53.87 yen.Comments that smooth construction progress of floating storage and offloading system is the main reason for the forecast.  Full Article

Modec announces offering price for share issuance
Tuesday, 15 Apr 2014 04:10am EDT 

Modec Inc:Says paid-in price of 1,933.8 yen per share (5,987,044,800 yen in total), to issue shares through public offering on April 23.Says paid-in price of 2,017 yen per share (12,989,076,600 yen in total), to issue shares through private placement to Mitsui Engineering & Shipbuilding Co Ltd and Mitsui & Co Ltd with payment date of April 22.Says paid-in price of 1,933.8 yen per share (up to 897,669,960 yen in total), to issue shares through private placement to SMBC Nikko Securities Inc. with payment date of May 21.  Full Article

Modec to issue shares through public offering and private placement
Monday, 7 Apr 2014 02:15am EDT 

Modec Inc:To issue 3,096,000 shares at undetermined price through public offering, with payment date between April 22 and April 24.To issue 6,439,800 shares at undetermined price through private placement, to Mitsui Engineering & Shipbuilding Co Ltd and Mitsui & Co Ltd.To issue 464,200 shares at undetermined price through private placement, to SMBC Nikko Securities Inc, with subscription date between May 20 and May 23, as well as payment date between May 21 and May 26.Proceeds to be used for investment in floating production, storage and offloading system (FPSO) charter companies.  Full Article

Modec Inc revises consolidated full-year forecast for FY 2013
Thursday, 13 Feb 2014 01:30am EST 

Modec Inc:Sees consolidated full-year revenue of 250,000 million yen for the fiscal year ended Dec. 31, 2013, compared to the previous forecast of 220,000 million yen.Sees operating profit of 4,000 million yen, in line with the previous forecast.Sees ordinary profit of 15,500 million yen, compared to the previous forecast of 11,000 million yen.Sees net profit of 4,900 million yen, compared to the previous forecast of 6,500 million yen.Sees earnings per share of 105.59 yen, compared to the previous forecast of 140.06 yen.Says this is due to expectation of an extraordinary loss of 2,300 million yen on impairment of fixed asset, as well as an extraordinary loss of 1,600 million yen on allowance for bad debts.FY 2013 revenue of 227,500 million yen and net profit of 8,730 million yen - Thomson Reuters I/B/E/S.  Full Article

Modec Inc Amends Consolidated Mid-year and Full-year Outlook for FY 2013
Thursday, 8 Aug 2013 02:30am EDT 

Modec Inc announced that it has affirmed its consolidated mid-year outlook for revenue of JPY 100,000 million and operating profit of JPY 3,000 million, but raised the outlook for ordinary profit from JPY 7,200 million to JPY 9,800 million, net profit from JPY 4,000 million to JPY 5,700 million and earning per share from JPY 86.19 to JPY 122.83, for the fiscal year ending December 2013. In addition, the Company has also affirmed its consolidated full-year outlook for revenue of JPY 220,000 million and operating profit of JPY 4,000 million, but raised the outlook for ordinary profit from JPY 9,000 million to JPY 11,000 million, net profit from JPY 5,200 million to JPY 6,500 million and earning per share from JPY 112.05 to JPY 140.06, for the fiscal year ending December 2013. The Company raised the outlook due to the record of exchange profit, among others.  Full Article

Modec Inc Raises Consolidated Mid-year and Full-year Guidance for FY 2013
Monday, 13 May 2013 02:30am EDT 

Modec Inc announced that the Company has raised the consolidated mid-year guidance for revenue from JPY 80,000 million to JPY 100,000 million, operating profit from JPY 1,500 million to JPY 3,000 million, ordinary profit from JPY 3,000 million to JPY 7,200 million, net profit from JPY 1,800 million to JPY 4,000 million and earning per share from JPY 38.79 to JPY 86.19 for the fiscal year ending December 31, 2013. The Company has also raised the consolidated full-year guidance for revenue from JPY 200,000 million to JPY 220,000 million, ordinary profit from JPY 8,000 million to JPY 9,000 million, net profit from JPY 5,000 million to JPY 5,200 million and earning per share from JPY 107.74 to JPY 112.05 and affirmed the forecast for operating profit of JPY 4,000 million, for the fiscal year ending December 31, 2013.  Full Article

Modec Inc, Mitsui & Co, Ltd, Mitsui O.S.K. Lines, Ltd And Marubeni Corporation To Participate In Ultra-Deepwater FPSO Chartering Project For Iracema Norte Area Of Brazilian Offshore Pre-Salt Oil Field
Friday, 22 Mar 2013 03:00am EDT 

Modec Inc, Mitsui & Co., Ltd, Mitsui O.S.K. Lines, Ltd and Marubeni Corporation announced that they have agreed that Mitsui, MOL and Marubeni will invest in a long-term charter business (Project) operated by MODEC for the purpose of providing a floating production, storage, and offloading system (the FPSO,) for use in the Iracema Norte area of a pre-salt oil field off the coast of Brazil. The above 4 companies (Companies) have entered into definitive agreements on March 22, 2013. This Project is subsequent to the long-term charter business for the purpose of providing an FPSO for the use in the Iracema Sul area (*) in which the Companies invested through Cernambi Sul MV24 B.V. For this Project, Mitsui, MOL and Marubeni will invest in Cernambi Norte MV26 B.V. MV26 has signed a long-term chartering agreement with Tupi B.V. The FPSO will be chartered to Tupi B.V. for 20 years under this chartering agreement signed in February 2013. Construction of the FPSO will involve the conversion of a VLCC (very large crude oil carrier), which will be renamed FPSO Cidade de ITAGUAÍ MV26 upon its completion. It will be deployed to the Iracema Norte area of the BM-S-11 block off the coast of Brazil in the fourth quarter of 2015. MODEC and Mitsui have already provided three FPSOs for pre-salt oil fields, and this will be their fourth pre-salt related FPSO chartering project. It is the third project of its type for MOL and the second for Marubeni.  Full Article

Modec Inc Amends Full-year Consolidated Outlook for FY 2012
Thursday, 14 Feb 2013 01:30am EST 

Modec Inc announced that it has raised its full-year consolidated outlook for revenue from JPY 150,000 million to JPY 185,000 million, ordinary profit from JPY 5,000 million to JPY 9,000 million, net profit from JPY 3,500 million to JPY 5,000 million, earnings per share from JPY 75.42 to JPY 107.74, and amended its full-year consolidated outlook for operating profit from an undetermined value to JPY 3,400 million, for the fiscal year ended December 31, 2012. This is due to the smooth progress of float production storage and offloading (FPSO) construction works and foreign exchange gain.  Full Article

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