Deterioration in Market Conditions for Investment Securities and Impairment Risk

「The main factors were an ¥870 million increase in construction in progress due to construction of new vessels and other work at consolidated subsidiary 豊前久保田海運株式会社, and a ¥70 million increase in investment securities reflecting higher market values of shares held, partly offset by a ¥292 million decrease in other current assets due to a decrease in consumption tax receivables, a ¥260 million decrease in land due to sales and the recognition of impairment losses, and a ¥253 million decrease in buildings and structures due to depreciation and other factors.」

「Securities for which impairment losses were recognized during the consolidated fiscal year (1 April 2024 to 31 March 2025): None.」

「The main factor was a ¥617 million increase in investment securities due to increases in the market value of held shares and other factors.」

「Total net assets increased by ¥309 million from the end of the previous consolidated fiscal year to ¥16.626 billion, up 1.9%. The main factors were increases of ¥195 million in the valuation difference on other securities, ¥47 million in retained earnings, ¥43 million in the foreign currency translation adjustment, ¥16 million in treasury stock due to a decrease in the number of treasury shares, and ¥7 million in the accumulated adjustments for retirement benefits, partially offset by a ¥1 million decrease in non-controlling interests.」

「The main factors were decreases of ¥1.607 billion in cash and deposits and ¥242 million in buildings and structures due to depreciation and other factors, partially offset by increases of ¥1.084 billion in other property, plant and equipment due to increases in construction in progress for the construction of a new warehouse at the Yokohama Port Distribution Center and other projects, and ¥728 million in notes and accounts receivable—trade due in part to the end of the second-quarter consolidated accounting period falling on a bank holiday.」

「The main factors were decreases of ¥204 million in cash and deposits and ¥161 million in notes and accounts receivable—trade, partially offset by increases of ¥999 million in other property, plant and equipment due to increases in construction in progress for the construction of a new warehouse at the Yokohama Port Distribution Center and other projects, and ¥378 million in investment securities due to increases in the market value of held shares and other factors.」

「The main factors were decreases of ¥338 million in cash and deposits and ¥242 million in other current assets due to decreases in advances paid and other items, partially offset by increases of ¥1.509 billion in notes and accounts receivable—trade and ¥197 million in investment securities due to increases in the market value of held shares and other factors.」

「Total net assets increased by ¥166 million from the end of the previous consolidated fiscal year to ¥16.299 billion, up 1.0%. The main factors were increases of ¥99 million in retained earnings from recording quarterly net income attributable to owners of the parent of ¥212 million and paying dividends of ¥113 million, ¥29 million in the foreign currency translation adjustment, ¥24 million in the valuation difference on other securities, ¥7 million in non-controlling interests and ¥4 million in the accumulated adjustments for retirement benefits.」

「Securities for which impairment losses were recognized during the consolidated fiscal year (1 April 2021 to 31 March 2022): None.」

「The main factors were increases of ¥366 million in retained earnings from recording quarterly net income attributable to owners of the parent of ¥564 million and paying dividends of ¥198 million, ¥94 million in the valuation difference on other securities, ¥14 million in the accumulated adjustments for retirement benefits, ¥14 million in the foreign currency translation adjustment, ¥11 million in non-controlling interests and ¥5 million in treasury stock, among other factors.」

「Total assets decreased by ¥155 million from the end of the previous consolidated fiscal year to ¥35.844 billion, down 0.4%. The main factors were increases of ¥216 million in other current assets due to increases in advances paid and other items and ¥136 million in investment securities due to increases in the market value of held shares and other factors, partially offset by decreases of ¥488 million in cash and deposits and ¥92 million in ships under property, plant and equipment due to depreciation and other factors.」

「Securities for which impairment losses were recognized during the consolidated fiscal year (1 April 2020 to 31 March 2021): None.」

「The main factors were a ¥13 million decrease in the foreign currency translation adjustment, offset by increases of ¥301 million in retained earnings from recording quarterly net income attributable to owners of the parent of ¥443 million and paying dividends of ¥141 million, ¥114 million in the valuation difference on other securities, and ¥20 million in the accumulated adjustments for retirement benefits, among other factors.」

「The main factors were decreases of ¥1.002 billion in notes and accounts receivable—trade and ¥391 million in other current assets due to decreases in accrued consumption tax refunds and other items, partially offset by increases of ¥1.985 billion in cash and deposits and ¥53 million in investment securities due to increases in the market value of held shares and other factors.」

「Valuation difference on other securities 477,697 447,055」

「The valuation difference on other securities decreased from ¥477.697 million to ¥385.731 million.」

「The main factors were a ¥230 million decrease in ships under property, plant and equipment due to depreciation and other factors, and a ¥206 million decrease in investment securities due to declines in the market value of held shares and other factors, partially offset by increases of ¥252 million in notes and accounts receivable—trade and ¥418 million in land under property, plant and equipment due to the acquisition of a construction site for a hazardous-materials multi-function workstation scheduled to open in Kitakyushu, Fukuoka Prefecture, in April 2019, among other factors.」

「For securities with a market price or a reasonably estimated fair value, we recognize an impairment loss when their value has declined by 50% or more. When the decline is at least 30% but less than 50%, we make a judgment based on the operating results and financial position of the company concerned.」