Improving profitability through the disposal or return of unprofitable vessels and asset sales

「In addition, the major vessels disposed of or sold during the consolidated fiscal year were as follows.」

「Dry bulk business: Cape-size bulk carriers 4; Panamax bulk carriers 2; handy-size bulk carriers 4. Energy business: LNG carriers 4」

「In addition, the major vessels disposed of or sold during the consolidated fiscal year were as follows: 9 Cape-size bulk carriers, 4 chip carriers, 2 car carriers and 2 tankers.」

「At the end of September, we sold all shares in an affiliate operating a terminal on the West Coast of North America and recognized an extraordinary gain.」

「In addition, the major vessels disposed of or sold during the consolidated fiscal year were as follows: 1 Cape-size bulk carrier, 3 Panamax bulk carriers, 2 chip carriers, 3 tankers and 2 conventional/project cargo vessels.」

「In addition, the major vessels disposed of or sold during the consolidated fiscal year were as follows: 4 Cape-size bulk carriers, 3 Panamax bulk carriers, 3 handy-size bulk carriers, 1 car carrier, 3 tankers, 11 LNG carriers and 1 conventional/project cargo vessel.」

「On 2 August 2021, we transferred 51% of the issued shares of our consolidated subsidiary 郵船不動産株式会社 to 日本郵政不動産株式会社. As a result, 郵船不動産株式会社 became an equity-method associate of the Company.」

「Under our current medium-term management plan, we have identified the effective use of our retained real estate as one of our initiatives and regard the early achievement of further business growth at 郵船不動産株式会社 as our most important issue. We determined that developing the business in partnership with 日本郵政不動産株式会社 was the best way to achieve further growth and enhance the corporate value of 郵船不動産株式会社.」

「To make effective and efficient use of the Group's management resources and strengthen its financial position, the subsidiary reviewed its assets and transferred the following beneficial interest in a trust holding fixed assets. Date of transfer agreement: 3 February 2021 Date of delivery of transferred assets: 3 February 2021 Gain on transfer: approximately ¥25.5 billion」

「On the cost side, efforts to reduce costs, including through the redelivery of chartered vessels, contributed to improved profitability in addition to lower fuel costs.」

「On the cost side, in addition to lower fuel costs, efforts to redeliver chartered vessels and reduce variable costs also contributed to improved profitability.」

「Liner business: Container ships 3 234,727 1,311」

「Under these conditions, the Group continued to work to secure long-term contracts and pursue cost reductions, including through more efficient vessel operations, as well as to improve profitability by reducing ballast voyages through more efficient combinations of cargoes and vessel deployment. In addition, it proceeded with the early redelivery of high-cost chartered vessels.」

「In addition, we advanced the early redelivery of high-cost chartered vessels.」

「Profit increased as we advanced structural reforms in the dry bulk business and built up earnings from stable-freight businesses, including the LNG and offshore businesses. In addition, we advanced the early redelivery of high-cost chartered vessels.」

「Against this backdrop, the Group worked to secure long-term contracts and reduce costs by pursuing more efficient operations, while also advancing the early redelivery of high-cost chartered vessels.」

「In addition, the major vessels disposed of or sold during the consolidated fiscal year were as follows: 1 Panamax bulk carrier, 1 handy-size bulk carrier, 2 car carriers, 1 tanker and 1 LNG carrier.」

「Under these conditions, the Group continued to work to secure long-term contracts and pursue cost reductions, including through more efficient vessel operations. In addition, it sought to improve profitability by reducing ballast voyages through more efficient combinations of cargoes and vessel deployment.」

「The Group worked to secure long-term contracts and reduce costs by pursuing more efficient operations. In addition, it sought to improve profitability by reducing ballast voyages through more effective cargo combinations and vessel deployment.」

「Under these conditions, the Group worked to secure long-term contracts and pursued cost reductions, including through more efficient vessel operations. In addition, it sought to improve profitability by reducing ballast voyages through more efficient combinations of cargoes and vessel deployment.」

「The major vessels disposed of or sold during the consolidated fiscal year were as follows: 7 Cape-size bulk carriers, 3 Panamax bulk carriers, 2 handy-size bulk carriers, 2 car carriers and 5 tankers.」

「Against this backdrop, we provided services responding to transportation needs, including by launching a new route to northern Vietnam, while continuing efforts to reduce operating costs, including through rigorous slow steaming.」

「Under these circumstances, the Group continued to reduce operating costs, including through the thorough use of slow steaming, and during the period scrapped and sold 1 aged owned vessel.」

「Under these circumstances, the Group continued to reduce operating costs, including through the thorough use of slow steaming, and during the period scrapped and sold 1 aged owned vessel.」

「The Group continued efforts to further improve profitability, including restructuring container vessel routes and disposing of or redelivering unprofitable vessels, mainly dry bulk carriers, and worked to build earnings from businesses with stable freight rates.」