Capital injection and business continuity support for a passenger shipping subsidiary during the COVID-19 pandemic

「In the passenger shipping business, repeated requests for people to refrain from activities in response to the spread of COVID-19 disrupted cash flow. The company sold investment securities and shares in affiliates that it held and also obtained a ¥200 million loan from Japan Finance Corporation.」

「During the current fiscal year, the sightseeing boat operations at Yokohama Port within the passenger shipping business were forced to suffer a substantial decline in revenue as the business environment deteriorated due to the spread of COVID-19, resulting in a working capital shortfall. As its responsibility as the parent company to support recovery from the COVID-19 crisis, which could be described as an infectious disease disaster, the company purchased investment securities held by the business, assumed ¥300 million in emergency financing debt, and provided a total capital injection of ¥644 million. The car ferry operations also experienced a funding shortfall, as did the sightseeing boat operations described above, and the company purchased investment securities held by the business and provided ¥108 million in financial support.」