Key Developments: Mitsui Engineering & Shipbuilding Co Ltd (7003.T)

7003.T on Tokyo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Mitsui Engineering & Shipbuilding Co Ltd to repurchase shares
Friday, 25 Apr 2014 02:00am EDT 

Mitsui Engineering & Shipbuilding Co Ltd:To repurchase up to 20,000,000 shares, representing a 2.4 pct stake.Says share repurchase up to 4,000,000,000 yen in total.Says repurchase period from April 28 to Sep. 22.  Full Article

Mitsui Engineering & Shipbuilding expects extraordinary profit and revises full-year consolidated outlook for FY 2014; reaffirms year-end dividend forecast for FY 2014
Monday, 21 Apr 2014 01:00am EDT 

Mitsui Engineering & Shipbuilding Co Ltd:Sees extraordinary profit of about 5.7 bln yen for gain on negative goodwill in acquisition of shares of Showa Aircraft Industry, for fiscal year ended March 31, 20144.Full-year consolidated outlook for revenue of 670,000 mln yen lowered from 680,000 mln yen, for fiscal year ended March 31, 2014.Full-year operating profit outlook of 20,000 mln yen raised from 16,000 mln yen.Full-year ordinary profit outlook of 26,000 mln yen raised from 17,000 mln yen.Full-year net profit outlook of 42,000 mln yen raised from 7,000 mln yen.Full-year earnings per share outlook of 50.77 yen raised from 8.46 yen.Revenue outlook lowered due to postponed orders and profit outlook raised due to depreciation of yen, increased investment income and the extraordinary profit.FY 2014 revenue of 667,450 mln yen, operating profit of 18,130 mln yen and net profit of 10,310 mln yen - Thomson Reuters I/B/E/S.Reaffirmed year-end dividend forecast of 2 yen per share, for the same fiscal year.  Full Article

Mitsui Engineering & Shipbuilding completes tender offer for shares of Showa Aircraft Industry
Tuesday, 18 Mar 2014 02:30am EDT 

Mitsui Engineering & Shipbuilding Co Ltd:Completed tender offer to acquire 10,000,000 shares in Showa Aircraft Industry, at 1,650 yen per share (16,500 mln yen in total), from Jan. 31 to March 17.To increase voting right in Showa Aircraft Industry to 62.10 pct (20,262,793 shares) from 31.45 pct (10,262,793 shares), effective March 24.  Full Article

Mitsui Engineering & Shipbuilding Co Ltd revises holding stake in Showa Aircraft Industry Co Ltd
Monday, 3 Feb 2014 03:00am EST 

Mitsui Engineering & Shipbuilding Co Ltd:Revises holding stake in Showa Aircraft Industry Co Ltd, which was disclosed on Jan. 30 in a tender offer announcement.Says Mitsui Engineering & Shipbuilding may increase stake in Showa Aircraft from 30.77 pct (10,262 voting rights) to 60.75 pct (20,262 voting rights).  Full Article

Mitsui Engineering & Shipbuilding Co Ltd to launch tender offer for shares of Showa Aircraft Industry Co Ltd
Thursday, 30 Jan 2014 02:00am EST 

Mitsui Engineering & Shipbuilding Co Ltd and Showa Aircraft Industry Co Ltd:Says Mitsui Engineering & Shipbuilding will launch a tender offer to acquire shares of Showa Aircraft.Says Mitsui Engineering & Shipbuilding intends to acquire 10,000,000 shares or at least 8,311,207 shares in Showa Aircraft, at 1,650 yen per share (up to 16,500,000,000 yen in total) during the period from Jan. 31 to Mar. 17.Says Mitsui Engineering & Shipbuilding may increase stake in Showa Aircraft from 30.56 pct (10,262 voting rights) to 60.75 pct (20,262 voting rights) if acquiring 10,000,000 shares.Says Showa Aircraft will sell 1,770,000 treasury shares to Mitsui Engineering & Shipbuilding in the tender offer, for 2,920,500,000 yen in total on Mar. 24.  Full Article

Mitsui Engineering & Shipbuilding Co Ltd Amends Consolidated Mid-year Outlook for FY 2014
Monday, 28 Oct 2013 04:00am EDT 

Mitsui Engineering & Shipbuilding Co Ltd announced that it has lowered its consolidated mid-year outlook for revenue from JPY 290,000 million to JPY 276,000 million, but raised the outlook for operating profit from JPY 7,000 million to JPY 8,100 million, ordinary profit from JPY 10,000 million to JPY 11,900 million, net profit from JPY 3,000 million to JPY 4,000 million and earning per share from JPY 3.63 to JPY 4.83 , for the fiscal year ending March 2014. The Company lowered the revenue outlook due to the delayed delivery of some orders, and raised the profit outlook due to the impact of the lower yen and the cost reduction.  Full Article

Mitsui Engineering & Shipbuilding Co Ltd Raises Consolidated Mid-year and Full-year Guidance for FY 2014
Tuesday, 30 Jul 2013 02:00am EDT 

Mitsui Engineering & Shipbuilding Co Ltd announced that the Company has raised the consolidated mid-year guidance for revenue from JPY 280,000 million to JPY 290,000 million, operating profit from JPY 5,000 million to JPY 7,000 million, ordinary profit from JPY 6,000 million to JPY 10,000 million, net profit from JPY 1,500 million to JPY 3,000 million and earning per share from JPY 1.81 to JPY 3.63 for the fiscal year ending March 31, 2014. The Company has also raised the consolidated full-year guidance for revenue from JPY 650,000 million to JPY 660,000 million, operating profit from JPY 14,000 million to JPY 16,000 million, ordinary profit from JPY 15,000 million to JPY 17,000 million, net profit from JPY 5,000 million to JPY 7,000 million and earning per share from JPY 6.04 to JPY 8.46 for the fiscal year ending March 31, 2014. This is due to the decreasing value of yen.  Full Article

Kawasaki Heavy Industries Ltd Axes Merger Plan with Mitsui Engineering & Shipbuilding Co Ltd-The Daily Yomiuri
Friday, 14 Jun 2013 08:00pm EDT 

The Daily Yomiuri reported that Kawasaki Heavy Industries Ltd has called off a merger plan with Mitsui Engineering & Shipbuilding Co. after its board of directors dismissed the president and two other executives who had been pushing for it.  Full Article

Kawasaki Heavy Industries Ltd and Mitsui Engineering & Shipbuilding Co Ltd To Start Merger Talks-Reuters
Sunday, 21 Apr 2013 10:41pm EDT 

Reuters reported that Kawasaki Heavy Industries Ltd and Mitsui Engineering & Shipbuilding Co Ltd will begin talks on a possible merger, although as it is unclear whether the two Japanese heavy machinery makers can overcome internal reticence about a union. The companies have sought out financial advisors to help with a merger, without formally appointing any. At the earliest a merger could happen during the next business year from April 1, 2014.  Full Article

Mitsui Engineering & Shipbuilding Co Ltd Announces Extraordinary Loss for FY 2013; Amends Consolidated Full-year Outlook and Year-end Dividend Forecast for FY 2013
Monday, 15 Apr 2013 02:00am EDT 

Mitsui Engineering & Shipbuilding Co Ltd announced that it will record a JPY 23,673 million extraordinary loss on the impairment of fixed assets, for the fiscal year ended March 2013. The Company has also lowered its consolidated full-year outlook for revenue from JPY 590,000 million to JPY 577,000 million, net profit from JPY 9,000 million to a loss of JPY 8,300 million and earning per share from JPY 10.87 to a loss of JPY 10.02, but raised the outlook for operating profit from JPY 20,000 million to JPY 24,000 million and ordinary profit from JPY 19,000 million to JPY 26,000 million, for the fiscal year ended March 2013. The Company raised the operating profit and ordinary profit outlook due to the impact of the lower yen and the cost reduction, and lowered the net profit outlook due to the record of extraordinary loss. In addition, the Company has maintained its year-end dividend forecast of JPY 3 per share for the fiscal year ended March 2013.  Full Article

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