mitsui osk lines ltd-uns adr (MSLOY) Snapshot

Mitsui OSK Lines Ltd. will launch a new Asia-Mexico Express Service, departing Ningbo on June 24, 2013. The weekly service will deploy seven vessels and be operated by Hapag-Lloyd. In addition to the present CWL services calling Manzanillo, the company will be able to enrich direct coverage for the emerging Mexican ports of Ensenada and Lazaro Cardenas. The new service’s port rotation is Ningbo, Shanghai, Busan, Yokohama, Ensenada, Manzanillo, Lazaro Cardenas, Ensenada, Yokohama, Ningbo.

Mitsui OSK Lines Ltd. announced consolidated earnings results for the fourth quarter and full year and non-consolidated earnings results for the full year ended March 31, 2013. On consolidated basis, for the year, the company reported net loss of ¥178,846 million or ¥149.57 per share, ordinary loss of ¥28,568 million and operating loss of ¥15,766 million on revenues of ¥1,509,194 million compared to net loss of ¥26,009 million or ¥21.76 per share, ordinary loss of ¥24,320 million and operating loss of ¥24,459 million on revenues of ¥1,435,220 million for the same period a year ago. Net cash provided by operating activities during fiscal 2012 totaled ¥78.9 billion, an increase of ¥73.9 billion from the same period of the previous fiscal year. This was mainly due to ¥137.9 billion in loss before income taxes and minority interests for the fiscal year, and ¥10.9 billion in impairment loss, and ¥94.6 billion in depreciation and amortization, and ¥101.4 billion in cost of business structural reforms. Loss before income taxes and minority interests was ¥137,938 million compared to ¥33,516 million a year ago. Payments for purchases of vessels and other tangible /intangible fixed assets was ¥165,543 million compared to ¥175,035 million a year ago. Purchase of investment securities was ¥16,853 million compared to ¥1,157 million a year ago. On non-consolidated basis, for the year, the company reported net loss of ¥171,474 million or ¥143.36 per share, ordinary loss of ¥25,098 million and operating loss of ¥48,156 million on revenues of ¥1,122,171 million compared to net loss of ¥31,704 million or ¥26.51 per share, ordinary loss of ¥38,947 million and operating loss of ¥64,989 million on revenues of ¥1,064,478 million for the same period a year ago. On consolidated basis, for the quarter, the company reported net loss of ¥120,133 million or ¥100.46 per share, ordinary loss of ¥12,769 million and operating loss of ¥4,386 million on revenues of ¥389,704 million compared to net loss of ¥868 million or ¥0.73 per share, ordinary loss of ¥5,651 million and operating loss of ¥6,084 million on revenues of ¥361,549 million for the same period a year ago. Loss before income taxes was ¥121,640 million compared to ¥3,517 million a year ago. The company also provided consolidated earnings guidance for the first half and full year of fiscal 2013 ending on March 31, 2014. For the first half of fiscal 2013, the company expected net income of ¥20,000 million or ¥16.73 per share, ordinary income of ¥25,000 million and operating income of ¥25,000 million on revenues of ¥840,000 million. For the full year of fiscal 2013, the company expected net income of ¥50,000 million or ¥41.81 per share, ordinary income of ¥60,000 million and operating income of ¥60,000 million on revenues of ¥1,700,000 million.

Mitsui OSK Lines Ltd., 2013 Earnings Call, Apr 30, 2013