Informations about the Amendment to the Consolidated Business Outlook

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February 2, 2012
Cosmo Oil Co., Ltd.
Corporate Communication Dept. Public Relations Office

Cosmo Oil Co.,Ltd. (hereafter "theCompany") has amended the consolidated business outlook for FY2011(ending March 31,2012), previously announced on November 2, 2011, as follows.

1. Amendment to the consolidated business outlook for FY2011 (April 1, 2011 to March 31, 2012)
   

   (Unit:million yen)

   	Net sales	Operating Income	Ordinary Income	Net income	Net income Per share
   Previously announced forecast(A) (on November 2, 2011)	3,070,000	74,000	72,000	13,000	yen sen 15.35
   Currently amended forecast(B)	3,070,000	74,000	72,000	0	0.00
   Change(B-A)	-	-	-	13,000
   Change(%)	-	-	-	100.0
   Previous year results (ended March 31, 2011)	2,771,523	104,097	96,094	28,933	34.16

2. Reason for the Amendment
   The proclamation of the "law to revise part of the Income Tax Law and other laws to rebuild the tax system in response to structural changes in the economy and society of Japan" and of the "law on special measures related to securing financial sources necessary to execut eprograms for recovery from the Great East Japan Earthquake" caused a revision in corporate tax rates and other matters, making the Company anticipated to reverse a part of its deferred tax assets.

• (Note) The above business out look is based on information available as of the published date of this release and actual results may materially differ from the forecast subject to variable factors that may arise in the future.

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