Key Developments: Modec Inc (6269.T)

6269.T on Tokyo Stock Exchange

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5 Feb 2016
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Latest Key Developments (Source: Significant Developments)

Modec raises consolidated full-year outlook for FY 2015
Thursday, 5 Nov 2015 01:30am EST 

Modec Inc:Says the company reaffirmed the consolidated full-year outlook for revenue as 300,000 million yen for the fiscal year ending Dec. 31, 2015.Operating profit forecast increased to 4,000 million yen from 3,000 million yen.Ordinary profit forecast increased to 10,000 million yen from 9,000 million yen.Net profit forecast increased to 4,500 million yen from 3,000 million yen.Earnings per share increased to 79.78 yen from 53.18 yen.FY 2015 revenues of 298.05 billion yen, net profit of 5.36 billion yen – Thomson Reuters I/B/E/S.Comments that the recording of insurance benefit as extraordinary profit is the main reason for the forecast.  Full Article

Modec amends consolidated mid-year outlook for FY 2015
Friday, 31 Jul 2015 03:00am EDT 

Modec Inc:Says the company increased the consolidated mid-year outlook for revenue to 150,000 mln yen from 140,000 mln yen, for the fiscal year ending Dec. 2015.Sees a decrease of operating profit forecast to a loss of 2,000 mln yen from 1,000 mln yen.Sees a decrease of ordinary profit forecast to 2,600 mln yen from 3,500 mln yen.Sees a decrease of net profit forecast to a loss of 200 mln yen from 1,000 mln yen.Sees a decrease of earnings per share to a loss of 3.55 yen from 17.73 yen.Says the revenue outlook raised due to the FPSO construction work, profit outlook lowered due to increased cost.  Full Article

Modec expects extraordinary loss for Q1 of FY 2015
Friday, 8 May 2015 02:00am EDT 

Modec Inc:Says it expects an extraordinary loss of about 700 million yen for the Q1 of the fiscal year ending Dec. 2015.Says the loss is recorded as the expenses for removal of fixed assets.  Full Article

Mitsui, Modec Inc, Mitsui O.S.K. Lines and Marubeni to proceed with Deepwater FPSO Charter Project for Tartaruga Verde & Tartaruga Mestiça Oil Fields Offshore Brazil
Tuesday, 14 Apr 2015 02:00am EDT 

Mitsui & Co Ltd:Mitsui, Mitsui O.S.K. Lines (MOL) and Marubeni to invest in a long-term charter business (the Project) currently promoted by Modec for providing a floating production, storage, and offloading system (FPSO) for use in the Tartaruga Verde and Tartaruga Mestiça oil fields off the coast of Brazil.Mitsui, MOL and Marubeni will invest in Tartaruga MV29 B.V., a Dutch company established by Modec, and proceed with the Project jointly.MV29 has entered into a long-term charter agreement for the deployment of the FPSO with Petróleo Brasileiro S.A., and the FPSO will be chartered for 20 years under this charter agreement which was signed on Feb. 27.Modec will eventually hold 29.4 pct stake, Mitsui will hold 32.4 pct stake, MOL will hold 20.6 pct and Marubeni will hold 17.6 pct stake in Tartaruga MV29.  Full Article

Modec Inc expects extraordinary loss for Q4 2014 and raises consolidated full-year outlook for FY 2014
Tuesday, 3 Feb 2015 01:00am EST 

Modec Inc:Expects to record about 1 billion yen loss on retirement of fixed assets as extraordinary loss for the fourth quarter of the fiscal year ended Dec. 2014.Says the company increased the consolidated full-year outlook for revenue to 370,000 million yen from 300,000 million yen for the fiscal year ended Dec. 31, 2014.Operating profit forecast increased to 8,000 million yen from 5,000 million yen.Ordinary profit forecast increased to 17,500 million yen from 13,000 million yen.Net profit forecast reaffirmed at 5,000 million yen.Earnings per share reaffirmed at 93.76 yen.FY 2014 revenues of 296.34 billion yen, net profit of 5.00 billion yen – Thomson Reuters I/B/E/S.Comments that the increased sales of construction business for FPSO is the main reason for the forecast.  Full Article

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

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