Kyoei Tanker Co., Ltd.
Notice Regarding Recording of Extraordinary Gains and Losses and Revision of Earnings Forecast Due to Estimated Total Loss Recognition of Vessel Owned by Consolidated Subsidiary
Due to the estimated total loss recognition of a vessel owned by a consolidated subsidiary, the Company will record extraordinary gains and losses and revise its full-year earnings forecast. Approximately 2,900 million yen will be recorded as an extraordinary gain from insurance proceeds, while approximately 2,200 million yen will be recorded as an extraordinary loss as a provision; the net amount is expected to be about 700 million yen. Final amounts may vary due to exchange rates and other factors.
Key Figures
- Extraordinary Gain (Insurance Proceeds): approx. 29 hundred million yen
- Extraordinary Loss (Loss Related to Vessel Departure Prohibition): approx. 22 hundred million yen
- Revision of Full-Year Forecast (Details of variances will be announced separately)
AI要約
Overview
Kyoei Tanker has received an estimated total loss recognition under the insurance for a vessel owned by a consolidated subsidiary and will record an extraordinary gain and an extraordinary loss in the fiscal 2027 second-quarter results. A provision of approximately 22 hundred million yen will be recorded for losses related to the vessel's departure prohibition, and insurance proceeds of approximately 29 hundred million yen will be recorded as an extraordinary gain, resulting in an expected net profit of about 7 hundred million yen. The final amounts may change due to the impact of exchange rates and other factors.
Impact and Future Outlook
Going forward, there is a possibility of revising the provision depending on the status of obtaining departure permission and estimates of maintenance costs. The Company will continue efforts to resolve the issue and may provide additional disclosures around the timing of resolution.
Kyoei Tanker Co., Ltd.
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