Mitsui OSK Lines To Log $145M Special Loss

Monday, February 26, 2001
Japanese shipping company Mitsui O.S.K. Lines Ltd. will post a total 16.8 billion yen ($145 million) in special losses for the year to March, adding it would not revise its earnings forecasts. Of the total, a loss of 10.6 billion yen will result from the liquidation of two unprofitable domestic ferry board carriers. The remaining 6.2 billion yen will come from liquidating seven overseas units engaged in the shipping business. Last November, Mitsui O.S.K. said it expected a 8.5 billion yen group net profit for the year to March 31 against an actual profit of 8.32 billion yen a year earlier.

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