Higher revenue and profit driven primarily by international transport

「Accordingly, operating revenue after deducting ¥604 million in intersegment internal operating revenue was ¥196.244 billion, up 1.5% from the previous fiscal year.」

「During the interim consolidated accounting period under review, operating revenue increased to ¥96.690 billion, up 1.5% year on year, due in part to higher warehouse and port transportation revenue. Operating profit declined 14.8% to ¥5.424 billion due to increases in personnel costs, depreciation and amortization, taxes and dues, and other expenses. Ordinary profit declined 7.5% to ¥7.654 billion.」

「During the interim consolidated accounting period under review, operating revenue increased to ¥95.286 billion, up 1.9% year on year, as warehouse cargo flows remained firm and land transportation revenue increased. Operating profit declined 2.6% to ¥6.368 billion due to lower revenue at overseas subsidiaries and increases in personnel costs and other expenses. Ordinary profit declined 2.1% to ¥8.276 billion, and interim net income attributable to owners of the parent declined 6.0% to ¥5.157 billion.」

「Against this backdrop, during the cumulative third quarter under review, warehouse cargo storage volumes remained generally firm. However, operating revenue declined to ¥140.734 billion, down 20.9% year on year, due to lower international transportation revenue resulting from the exclusion of the shipping subsidiary from the scope of consolidation in the previous fiscal year and the decline in previously elevated ocean freight rates. Operating profit declined to ¥10.283 billion, down 53.9%, due to the exclusion of the shipping subsidiary from consolidation and increases in personnel costs and vehicle outsourcing expenses. Ordinary profit was ¥14.031 billion, down 44.8%, and quarterly net income attributable to owners of the parent was ¥9.216 billion, down 51.8%.」

「Against this backdrop, during the cumulative second quarter under review, handling of warehouse cargo remained firm. However, operating revenue declined to ¥93.532 billion, down 24.3% year on year, due to lower international transportation revenue resulting from the transfer of shares and other interests in shipping subsidiaries during the previous fiscal year and the decline in previously elevated ocean freight rates. Operating profit also declined to ¥6.541 billion, down 63.0%, due to the transfer of shares and other interests in shipping subsidiaries, as well as increases in personnel costs and vehicle outsourcing expenses.」

「Against this backdrop, during the cumulative first quarter under review, handling of warehouse cargo remained firm. However, operating revenue declined to ¥46.678 billion, down 32.7% year on year, due to the exclusion from the scope of consolidation of Westwood Shipping Lines, Inc., which operated the shipping business at the end of the prior-year first quarter accounting period, and its two subsidiaries, as well as lower international transportation revenue following the decline in previously elevated ocean freight rates. Operating profit was ¥3.342 billion, down 75.1%, and ordinary profit was ¥5.159 billion, down 65.1%.」

「Accordingly, operating revenue after deducting ¥1.901 billion in intersegment internal operating revenue was ¥223.948 billion, down 3.2% from the previous fiscal year.」

「Against this backdrop, during the cumulative third quarter under review, shipping revenue declined because Westwood Shipping Lines, Inc. and its two subsidiaries were excluded from the scope of consolidation at the end of the first quarter accounting period. However, international integrated transportation generated higher revenue, overseas subsidiaries performed well, and handling of warehouse cargo remained firm. As a result, operating revenue was ¥177.863 billion, up 6.6% year on year. Operating profit increased to ¥22.286 billion, up 23.1%, due to the effect of higher revenue in the logistics business and higher freight rates in the shipping business, despite increases in operating expenses, including various handling expenses and personnel costs.」

「Against this backdrop, during the cumulative second quarter under review, revenue increased in international integrated transportation, overseas subsidiaries performed well, handling of warehouse cargo remained firm in Japan, and improved shipping market conditions were maintained. As a result, operating revenue increased in both the logistics and shipping businesses to ¥123.520 billion, up 16.8% year on year. Operating profit increased to ¥17.655 billion, up 85.1%, due to the effect of higher revenue despite increases in operating costs, including various handling expenses and personnel costs.」

「Against this backdrop, during the cumulative first quarter under review, cargo flows in international freight transportation were strong, handling of warehouse cargo remained firm, and shipping market conditions continued to improve. As a result, operating revenue rose substantially in both the logistics and shipping businesses to ¥69.314 billion, up 35.6% year on year. Operating profit increased to ¥13.408 billion, up 223.8%, due to the effect of higher revenue despite increases in operating costs, including various handling expenses and rent. Ordinary profit was ¥14.769 billion, up 172.5%.」

「Accordingly, operating revenue after deducting ¥3.145 billion in intersegment internal operating revenue was ¥231.461 billion, up 20.5% from the previous fiscal year.」

「Against this backdrop, during the current third-quarter cumulative consolidated period, operating revenue was ¥166,883 million, up 17.5% year on year, as cargo movement in international transportation remained firm amid the global economic recovery, the warehousing business also performed strongly and marine transportation market conditions improved, resulting in higher revenue in the logistics and marine transportation businesses. Operating income was ¥18,110 million, up 128.0%, as the effect of higher revenue outweighed increases in operating costs such as handling costs and personnel expenses.」

「Operating revenue was ¥105,789 million, up 13.8% year on year, as revenue increased in the logistics and marine transportation businesses due to firm cargo movement in international transportation amid the global economic recovery and improved marine transportation market conditions. Operating income was ¥9,540 million, up 114.8%, as the effect of higher revenue outweighed increases in operating costs such as handling costs, personnel expenses and depreciation expenses.」

「As a result, during the current first-quarter cumulative consolidated period, operating revenue was ¥51.1 billion, up 8.1% year on year, as cargo movement, particularly in international transportation, remained firm, handling of e-commerce-related transportation expanded and marine transportation market conditions improved. Revenue increased substantially in the logistics and marine transportation businesses. Operating income was ¥4,140 million, up 73.5%, as the effect of higher revenue outweighed increases in operating costs such as handling costs and personnel expenses.」

「Operating revenue increased 0.2%, from ¥191,721 million to ¥192,024 million, while operating income declined 1.2%, from ¥11,101 million to ¥10,963 million.」

「Operating revenue was ¥141,979 million, down 1.1% year on year. Although factors such as expanded handling of e-commerce-related transportation supported revenue growth, cargo movement stagnated due to the impact of the COVID-19 pandemic. Operating income was ¥7,944 million, down 6.2%, due to lower revenue resulting from the pandemic and increases in personnel expenses and depreciation expenses for warehouse facilities.」

「Operating revenue was ¥9.2945 billion, down 2.4% year on year. Although the expansion of e-commerce-related transportation and other factors increased revenue, stagnant cargo volumes and other factors resulting from the impact of COVID-19 reduced revenue. Operating income was ¥444 million, down 20.0% year on year, owing to the decline in revenue caused by the infection and increased depreciation of warehouses and other facilities that began operations in the previous consolidated fiscal year and the first half of the current fiscal year.」

「Operating revenue was ¥47,268 million, broadly in line with the previous-year period and up 0.3% year on year. Although the COVID-19 pandemic caused cargo movement to stagnate and reduced revenue, revenue increased due to factors including expanded handling of e-commerce-related transportation. Operating income was ¥2,386 million, down 9.3%, as operating expenses increased due to the pandemic, higher handling costs and personnel expenses, and higher depreciation expenses for warehouse facilities that began operating in the previous fiscal year and the current first quarter, although it was below the initial forecast.」

「As described above, the Group's operating performance for the current fiscal year recorded all-time highs in operating revenue, operating income and ordinary income, while net income attributable to owners of the parent was also effectively at an all-time high. The impact of COVID-19 was limited.」

「Operating revenue was ¥143,565 million, up 2.9% year on year, mainly because revenue increased in the logistics and real estate businesses. Operating income was ¥8,473 million, up 29.3%, due to the effect of higher revenue in the logistics and real estate businesses and improved profitability in the marine transportation business.」

「Operating revenue was ¥95,231 million, up 5.8% year on year, mainly because revenue increased in the logistics and real estate businesses. Operating income was ¥5,551 million, up 40.8%, as the effect of higher revenue outweighed increases in operating expenses such as handling costs.」

「During the current first-quarter cumulative consolidated period, operating revenue was ¥47,135 million, up 6.9% year on year, as revenue increased in the logistics, marine transportation and real estate businesses. Operating income was ¥2,631 million, up 38.2%, as the effect of higher revenue outweighed increases in operating expenses such as handling costs and personnel expenses. Ordinary income was ¥3,884 million, up 24.7%, and quarterly net income attributable to owners of the parent was ¥2,490 million, up 12.0%.」

「Operating revenue was ¥186,172 million, up 5.9% from the previous fiscal year, while operating income was ¥8,795 million, down 14.6%.」

「Against this backdrop, during the current third-quarter cumulative consolidated period, operating revenue was ¥139,474 million, up 6.6% year on year, mainly because revenue increased in the logistics business. Operating income was ¥6,555 million, down 14.6%, as the warehousing and international transportation businesses remained firm, but container transportation volumes declined in the marine transportation business and fuel costs increased due to higher crude oil prices.」

「As a result, operating revenue for the logistics business as a whole was ¥72,879 million, up 6.2% year on year, while operating income was ¥4,896 million, down 3.1%, due to increases in operating expenses such as handling costs and personnel expenses.」

「International transportation revenue was ¥38,033 million, up 16.3% from the previous fiscal year, as handling of integrated international transportation and air cargo increased and overseas subsidiaries also recorded higher revenue. As a result, operating revenue in the logistics business was ¥140,114 million, up 6.9%, and operating income was ¥9,865 million, up 1.0%.」

「Against this backdrop, during the current third-quarter cumulative consolidated period, operating revenue was ¥130,799 million, up 9.2% year on year, mainly because cargo handled in the logistics business increased, particularly in international transportation. Operating income was ¥7,673 million, up 9.7%. Ordinary income was ¥9,911 million, up 9.2%, mainly due to an increase in dividend income, while net income attributable to owners of the parent was ¥6,718 million, up 11.3%, mainly due to an increase in gains on the sale of fixed assets.」