Deterioration in transport volumes and earnings due to weak steel demand

「In coastal shipping, transport volumes declined as domestic demand for steel products, the main cargo category, remained weak, compounded by production stoppages during facility replacement work by some shippers. As a result, revenue fell to ¥3,270 million, down ¥132 million year on year, or 96.1%, and operating profit fell to ¥111 million, down ¥60 million, or 65.0%, resulting in lower revenue and profit.」

「取締役会　監査等委員会（社外取締役含む）　監査・監督」

「In addition to lower operating efficiency caused by the impact of stagnant domestic demand for steel products, the principal cargo, profit stagnated due to higher costs, and the cancellation of charter contracts by shippers and vessel stoppages also resulted in lower revenue.」

「In the domestic shipping business, domestic demand for steel products, the principal cargo, remained sluggish, and volumes handled remained weak.」

「Transport volumes for steel products and scrap metal used as raw material declined 4.5% year on year and remained sluggish.」

「Transport volumes for steel products and scrap metal used as raw material declined 4.5% year on year and remained sluggish.」

「In the Himeji area, the decline in steel product handling volumes caused sales at general warehouses to stagnate,」

「Typhoons arrived earlier than usual in the summer and forced vessels to remain idle, but the effect of revised rates for oilseed and feed cargoes, together with efficient deployment centered on owned barges in response to higher transport volumes, boosted profit.」

「In the domestic shipping business, transportation volume for steel products, the main cargo, declined. However, partly due to the effects of rate revisions focused on oilseed and feed-related cargo, revenue was ¥1,763 million, up 1.0% year on year.」

「Transport of steel products and raw material scrap was strong in the first half, increasing 28% year on year, but growth stalled in the second half due to vessels being idle because of severe weather and manufacturers adjusting shipments. For the full year, transport volume declined 4.5% year on year.」

「In the coastal shipping business, tonnes handled remained sluggish compared with the previous fiscal year, down 5.5% year on year, but efficient vessel allocation resulted in revenue growth of 2.8% to ¥5,087 million. Meanwhile, in addition to higher operating costs from upward revisions to charter rates paid and persistently high fuel oil prices, administrative expenses also increased, causing operating profit to fall 6.1% to ¥191 million.」

「In the coastal shipping business, the volume of steel products, the principal cargo, increased as the domestic steel market remained firm, as in the previous fiscal year. This led to more efficient allocation of the Company's vessels, and net sales rose to ¥1,745 million, up 13.5% year on year.」

「As the domestic steel market remained generally firm, transport volumes for steel products and scrap metal used as raw material increased.」

「In the domestic shipping business, transport volumes for steel products, the principal cargo, increased as steelmakers raised production against a backdrop of firm domestic demand. As a result, revenue increased to ¥4,949 million, up 18.9% year on year.」

「In the coastal shipping business, tighter supply and demand for steel, the main cargo, led to higher transport volumes and a shift to a stable pace.」

「In the coastal shipping business, transportation volumes for steel products, the principal cargo, recovered as steelmakers increased production. This led to more efficient allocation of managed vessels, and revenue rose 14.0% year on year to ¥1,537 million.」

「In the coastal shipping business, the decline in steel demand continuing from the previous fiscal year had a significant impact. Although signs of recovery emerged toward the second half, the main reason for lower sales over the full fiscal year was the decline in cargo volume handled to 1,471 thousand tons, down 272 thousand tons from the previous fiscal year.」

「In the coastal shipping business, transport volumes have recently shown signs of recovery from the beginning of the fiscal year as demand for steel products, the core cargo, has begun to recover. However, difficult conditions since the second half of the previous fiscal year persist, and net sales declined to ¥4,162 million, down 15.5% year on year.」

「In the coastal shipping business, the decline in transport demand continued from the previous fiscal year amid supply and demand adjustments for steel products, the main cargo. Volumes handled remained weak at 673 thousand tons, down 27.1% year on year.」

「In the coastal shipping business, transport volumes for steel products, the principal cargo, declined substantially as steelmakers reduced production.」

「In the coastal shipping business, transport of steel products, the core cargo, declined because steelmakers reduced production and adjusted inventories in response to weak domestic demand. Although freight rates were revised for some shippers, net sales declined to ¥4,925 million, down 3.7% year on year.」

「In the coastal shipping business, steel transport, which had been performing well, began to weaken. In addition, successive periods of severe weather caused by typhoons and other factors significantly reduced operating efficiency. Cargo transport volume was therefore 923 thousand tons, down 9.7% year on year, and net sales declined to ¥3,337 million, down 1.2%.」

「In the coastal shipping business, the decline in transportation volumes for steel products, the principal cargo, together with a review of chartering arrangements, prevented the company from covering higher operating costs. Revenue was ¥1,710 million, down 0.8% year on year, and operating profit was ¥73 million, down 21.5%.」

「In the coastal shipping business, transport of steel products, the core cargo, remained firm against a backdrop of strong steel demand driven by public investment, including urban redevelopment projects, and increased private-sector capital investment.」

「In the domestic shipping business, domestic shipping remained firm, supported by public investment and construction demand against a backdrop of strong, domestically driven economic conditions. The volume handled increased steadily to 1,022 thousand tonnes, up 3.3% year on year.」

「In the coastal shipping business, transport volumes for steel products, the principal cargo, remained firm as demand from construction and civil engineering projects continued to be strong, as in the previous fiscal year.」

「As steel market conditions remained firm, transport volumes for steel products and scrap metal used as raw material increased substantially.」

「In the domestic shipping business, production by steelmakers increased as domestic demand rose, supported by construction investment. As a result, volumes of the principal cargoes handled, steel products and raw-material scrap, showed a gradual recovery from the second half of the previous fiscal year.」

「In the coastal shipping business, strong steel product transport began during the inventory adjustment period for steel products in the second half of the previous fiscal year and remained favorable during the first half of the current fiscal year.」

「In the coastal shipping business, volumes increased for steel products, the principal cargo, as demand for construction and civil engineering work remained strong. As a result, revenue was ¥1,520 million, up 9.9% year on year, and operating profit was ¥40 million, up 168.4%.」

「Transport of the company’s main cargo, steel, remained weak from the beginning of the period, but progress in inventory adjustments during the third quarter of the consolidated fiscal period contributed to a certain recovery in performance.」

「In the coastal shipping business, production cuts and inventory adjustments at steelmakers resulting from weak domestic demand have run their course, and transport volumes for steel products, the principal cargo handled, showed a gradual recovery after entering the current third-quarter consolidated accounting period.」

「In the coastal shipping business, although domestic capital investment was considered firm, transport demand for steel products, the principal cargo handled, remained weak and cargo volumes declined.」

「In the coastal shipping business, transport demand remained weak because production cuts and inventory adjustments at steelmakers, resulting from continued weakness in domestic demand from the previous fiscal year, caused transport demand to decline. Net sales were ¥1,384 million, down 8.2% year on year, and operating profit was ¥14 million, down 72.7%.」

「Domestic demand for steel products, the company’s main cargo, remained weak, and transport volumes declined as manufacturers cut production and adjusted inventories. As a result, revenue fell sharply to ¥5,734 million, down ¥633 million year on year, or 90.1%.」