Notice regarding the Revisions to Consolidated Business Forecast and Dividend Forecast for the Fiscal Year Ending March 31, 2022 (PDF/99K)
November 09, 2021 at 02:13 am EST
Share
November 9, 2021
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:
Eriko Date, General Manager of Corporate Communication Dept.
Phone: 03-3798-3180
Notice regarding the Revisions to Consolidated Business Forecast and Dividend Forecast
for the Fiscal Year Ending March 31, 2022
The Company announces herewith its revised consolidated financial results forecast and dividend forecast, which were initially announced on May 13, 2021, due to recent trends in business performance.
1. Revised consolidated business forecast
Revisions to Consolidated Business Forecast (April 1, 2021 to March 31, 2022)
(Unit: million yen)
Operating
Ordinary
Profit attributable
Net income
Net sales
to owners of
profit
profit
per share
parent
Forecast previously announced (A)
2,150,000
93,000
88,000
40,000
yen sen
(on May 13, 2021)
447.95
Revised forecast (B)
2,370,000
155,000
155,000
93,000
1,110.90
Change (B-A)
220,000
62,000
67,000
53,000
0円0銭
Change (%)
10.2%
66.7%
76.1%
132.5%
#DIV/0!
(Reference)Last year results
2,233,250
101,289
97,370
85,910
1,025.86
(Ending March. 31, 2021)
- Reason for the revisions
The consolidated business forecast for the full year of FY2021 is revised to be projected at operating profit of ¥155 billion (up ¥62 billion from the previous announcement), ordinary profit of ¥155 billion (up ¥67 billion from the previous announcement) and profit attributable to owners of parent of ¥93 billion (up ¥53 billion from the previous announcement).
This revision is reflecting such factors as increase in inventory evaluation profit and the profit increase in oil exploration and production business due to the rise in crude oil price and improvement of business result in the domestic petroleum business due to recovery of product market conditions.
This business forecast is based on the assumptions of crude oil price at US$72/ bbl and exchange rate at JPY110/ US$. (Assumptions at the previous forecast on May 13, 2021: crude oil price US$60/ bbl, exchange rate JPY105/ US$)
2. Revised dividend forecast
Dividend per share (yen)
Interim
Yearend
Annual
Previous forecast
-
80.00
80.00
(on May 13, 2021)
Revised forecast
-
100.00
100.00
Dividends in current fiscal year
0.00
-
-
(Reference)
Dividends in previous fiscal year
0.00
80.00
80.00
(ended March 31, 2021)
- Reason for the revisions
The Company places particular emphasis on shareholder return. Its basic policy is to maintain stable dividend payments by taking financial structural enhancement, future business development, business results and balanced fund positions into due consideration.
For the fiscal year ended March 31, 2022, the year-end dividends should be revised ¥100.00 per share, which is an increase of ¥20.00 from ¥80 the dividends previous forecast because the profit attributable to owners of parent increased compared to previous business forecast.
This proposal will be made at meeting at the 7th General Meeting of Shareholders to be held on June 23, 2022.
(Note) The above business forecast is based on information available as of the published date of this release and actual results may differ from the forecast subject to variable factors that may arise in the future.
Attachments
Original document
Permalink
Disclaimer
Cosmo Energy Holdings Co. Ltd. published this content on 09 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2021 07:12:04 UTC.
Cosmo Energy Holdings Co Ltd is a Japan-based company mainly engaged in the development, import, refining, storage and sale of crude oil. The Company operates in three business segments. The Petroleum segment is engaged in the production and sale of volatile oil, naphtha, kerosene, light oil, heavy oil, crude oil, lubricating oil and liquefied petroleum gas. The Petrochemical segment is engaged in the production and sale of petrochemical products such as ethylene, mixed xylene, paraxylene, benzene, toluene, and petrochemical solvents. The Oil Development segment is engaged in the development, production and sale of crude oil. The other business includes construction business, insurance agency business, leasing business, travel business, wind power generation business, real estate sales business, accounting, finance, purchasing, general affairs and human resources-related business.