OREANDA-NEWS. Mitsui O.S.K. Lines, Ltd. today announced a revision of its consolidated business outlook for fiscal year 2015 (April 1, 2015 to March 31, 2016), issued on October 30, 2015, as follows. In addition, the Company announced the plan to record the costs for its business structural reforms under extraordinary loss for the fourth quarter of this fiscal year.

The Company made a downward revision of its full-year FY2015 forecast for operating income and ordinary income from the previous forecast in consideration of a significantly weaker than anticipated dry bulker market despite the tailwind of lower bunker prices, as well as a delay in recovery of containership freight rates. The Company also made a large downward revision of its forecast for net income/loss based on the plan to record costs for business structural reforms as described below, anticipating a loss of JPN 175.0 billion.

The Company has decided to implement business structural reforms in response to the current severe business environment, and details of each measure are under consideration.