Cosmo Energy : Notice regarding the Amendment to the Consolidated Forecast for the Fiscal Year Ending March 31, 2020 (PDF/205K)

February 13, 2020

To whom it may concern

Name of the Company:	Cosmo Energy Holdings Co., Ltd.
Name of Representative:	Hiroshi Kiriyama, President
	(Company Code: 5021 Shares Traded: TSE First section）
Name of Contact Person:	Seiko Takagi, General Manager of Corporate Communication Dept.
	Phone: [phone]

Notice regarding the Amendment to the Consolidated Forecast for the Fiscal Year Ending March 31, 2020

Amendments have been made to the consolidated forecast for the fiscal year ending March 31, 2020 as follows:

●Amendments to the consolidated forecast for the fiscal year ending March 31, 2020

						(Unit: million yen)
			Operating	Ordinary	Profit attributable	Net income
		Net sales	to owners of
		profit	profit	per share
			parent
	Forecast previously announced (A)	2,913,000	109,000	111,000	60,000	yen sen
	(on May 9, 2019)	711.68
	Revised forecast (B)	2,799,000	49,500	52,500	2,500	29.73
	Change (B-A)	-114,000	-59,500	-58,500	-57,500	-594.85
	Change (%)	-3.9%	-54.6%	-52.7%	-95.8%
	(Reference)Last year results	2,770,365	94,653	96,654	53,132	630.69
	(Ending March. 31, 2019)
●Reason for the amendment

Regarding to the consolidated business forcast for the full year of FY2019, the revised outlook includes operating profit of ¥49.5 billion (down ¥59.5 billion yen from the previous announcement),ordinary profit of ¥52.5 billion (down ¥58.5 billion yen from the previous announcement) and profit attributable to owners of parent of ¥2.5 billion (down ¥57.5 billion yen from the previous announcement) .

The main reason for the amendment is due to the impact from the inventory valuation because of the change in crude oil prices and the decline in petroleum and petrochemical market conditions, compared to the previous forecast (announced on May 9, 2019).

The above business forcast is based on the assumptions of estimated crude oil price at US$ 62/bbl and exchange rate at JPY 109/US$. (Assumptions at the previous forecast: crude oil price US$ 65/bbl, exchange rate JPY 110/US$)

There is no change of the dividend payment outlook from the previous announcement. ( Annual dividend per share : 80 yen)

(Note) The above business forcast is based on information available as of the published date of this release and actual results may materially differ from the forecast subject to variable factors that may arise in the future.