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Modec Inc (6269.T)

6269.T on Tokyo Stock Exchange

28 Mar 2017
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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

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