Overview of the SENKO Group

Strategies for Sustained Growth

Data Section

Foundation for GrowthTen-year Financial and Nonfinancial Highlights
FY2013

FY2014FY2015FY2016FY2017FY2018FY2019FY2020

FY2021

FY2022

Operating revenues

Business results (millions of yen)
Operating revenues

293,534

333,883

398,447

434,000

455,435

492,127

529,609570,030

572,405

623,139

Operating costs and expenses

263,898

299,039

357,431386,321405,757

440,671471,129

503,687

500,653

534,352

Selling, general and administrative expenses

19,72722,72227,36630,181

32,59534,36938,84745,68650,23564,015

Operating profit

9,908

12,122

13,64917,497

17,081

17,087

19,631

20,656

21,516

24,771

Ordinary profit

10,10011,305

13,234

17,17817,301

17,316

19,876

20,74422,227

26,103

14,24915,233

17,841

17,596

Net income attributable to owners of parent

5,202

6,503

7,073

8,542

8,950

9,503

11,681

12,081

Comprehensive income

5,838

7,045

9,804

8,630

12,24912,893

10,547

10,677492,1272018/3529,6092019/3521.48539.52581.46613.71661.61

741.44785.08823.61909.55985.67

Net income per share

41.45

51.89

55.06

60.43

61.67

62.64

76.90

79.51

93.87

104.09Net income per share after adjustment for residual shares

37.46

45.17

50.41

56.32

58.74

58.08

71.31

73.75

78.44

91.99

Annual dividend

14.00

16.00

17.00

20.00

22.00

22.00

26.00

26.00

28.00

34.00

Net assets

67,32772,302

92,743100,009

114,090

118,056

126,895

134,181

146,120

160,657

Total assets

208,095

243,570

285,309269,461

285,958

333,972

340,491

356,308

436,066

480,487

Cash flows from operating activities

11,037

10,68919,22816,14920,84824,56727,02231,09831,85831,885

Cash flows from investing activities(6,236)(24,956)(17,978)(2,288)(3,678)(37,020)(15,770)(18,030)(46,309)(46,141)

Cash flows from financing activities(2,551)

14,551

6,209(21,492)(8,626)

9,940(13,224)(9,155)36,757

5,773

Cash and cash equivalents at end of year

15,69017,66725,476

17,76526,197

23,79522,801

27,14250,371

42,193

3.38%

3.63%

3.43%

4.03%

3.75%

3.47%

3.71%

3.62%

3.76%

3.98%

30.90%

30.60%

Financial position (millions of yen)

570,030 572,405

2020/3Operating profit

2021/3

623,1392022/3(Millions of yen)

24,771Per-share information (yen)Net assets per share(Millions of yen)

19,631

20,656

21,516

17,087

2018/3

2019/32020/3

Net income
attributable toowners of parent
11,681

12,081

2019/32020/32021/32022/3(Millions of yen)

14,24915,233

9,503

Decision-making indicators
Operating profit margin (%)
Equity ratio (%)

31.30%

27.80%

28.40%

32.60%

35.10%

33.70%

35.00%

35.10%

Return on assets (ROA) (%)

4.92%

5.01%

5.00%

6.19%

6.23%

5.59%

5.89%

5.95%

5.61%

5.70%

Return on equity (ROE) (%)

8.20%

9.80%

9.50%

10.10%

9.50%

8.90%

10.10%

9.90%

11.00%

10.80%

Price earnings ratio (PER)

11.92

8.63

14.17

11.35

11.63

13.22

11.95

10.54

11.16

8.63

Final share price at end of fiscal year (yen)

494

448

780

686

717

828

919

838

1,048

898

Price book-value ratio (PBR)

0.95

0.83

1.34

1.12

1.08

1.12

1.17

1.02

1.15

0.91

Number of employees

8,356

8,738

11,562

11,992

13,915

14,496

16,004

16,69319,194

20,725

Number of drivers

2,385

2,534

4,000

4,024

4,105

5,051

5,397

5,450

6,004

6,226

Number of operators

3,291

3,692

4,528

4,496

4,575

5,143

5,429

5,602

6,135

6,011

71

79

86

86

111

133

132

131

141

161

Nonfinancial information

Number of group companies
Model shift ratio (%)
Total warehouse floor space (tens of thousands of square meters)

—

—

—

—

63.4%

65.7%

69.8%

70.0%

74.9%

76.1%

221

252

280

293

322

342

366

387

392

406

3,240

3,352

4,540

4,745

4,426

5,179

5,525

5,790

6,229

6,727

Number of ships under management

19

19

18

18

18

68

69

69

69

69

Of which, number of owned ships

11

11

11

11

11

34

34

33

38

40

Number of vehicles (tractors)* During the fiscal year ended March 31, 2022, the company finalized the provisional accounting treatment for business combinations. As a result, principal management
allocation of the cost of acquisition resulting from the finalization of provisional accounting treatment.

Outside recognition

Participating initiatives

2022 Constituent MSCI JapanESG Select Leaders Index*1

Net assets ( )Equity ratio ( )33.70

118,056

2018/335.00

2021/3(Millions of yen)
(%)

35.10
30.90

126,895

2019/3

134,181 146,120

2020/32021/3Return on equity (ROE)

8.90

2018/32022/3

10.10

9.90

2019/32020/330.60
160,6572022/3

(%)

11.00

10.80

2021/32022/3indicators and other figures related to the fiscal year ended March 31, 2021, reflect important revisions to the initial(SENKO Group Holdings Co., Ltd. and SENKO Group companies)
ISO14001

ISO14001

ISO14001●Certified organization / 4 branches of SENKO
Co., Ltd. and Sankyo Freight Co., Ltd.
●Certification No. / JQA-EM1492●Certifying institution / JQA (Japan Quality
Assurance Organization)●Certified organization / Smile Corp.
●Certification No. / JQA-EM7663●Certifying institution / JQA (Japan
Quality Assurance Organization)●Certified organization / Harcob
Co., Ltd.
●Certification No. / EMS542855●Certifying institution / BSIGroup Japan

Green Management Certification*1 Neither inclusion in MSCI indexes nor use of MSCI’s logo, trademarks, service marks, or index names on this page should be construed to indicate the support, guarantee, or promotion of SENKO Group
Holdings Co., Ltd. by MSCI or its affiliates. MSCI indexes are the exclusive property of MSCI. The names and logos of MSCI and its indexes are trademarks or service marks of MSCI and its affiliates.

●Certified organization / 9 business sites at
SENKO Co., Ltd.; SENKO Line Co., Ltd.
Atsugi Senko Transport Co., Ltd.; Minami Osaka
Senko Transport Co., Ltd.; Chushikoku Logistics
Co., Ltd.; Eikichi Kaiun Co., Ltd.; Minami Kyushu
Senko Co., Ltd.; Tokyo Nohin Daiko Co., Ltd.;
Kitanihonunyu Corporation●Certifying institution / Foundation for Promoting
Personal Mobility and Ecological Transportation

SENKO INTEGRATED REPORT 2022

SENKO INTEGRATED REPORT 2022

2022 Constituent MSCI Japan Empowering
Women Index (WIN)*1

49

2018/350

Overview of the SENKO Group

Strategies for Sustained GrowthFoundation for Growth

Data Section

Financial Review

Liabilities

Total liabilities as of March 31, 2022, increased 29,884 million yen from the end of the previous
fiscal year to 319,830 million yen.
Current liabilities totaled 137,646 million yen, up 3,931 million yen from the end of the previous
fiscal year. The increase reflects decreases of 7,094 million yen in current portion of bonds payable
and 10,009 million yen in current portion of convertible bonds with share acquisition rights, whichwere offset by increases of 6,291 million yen in trade accounts and notes payable and 14,298 million
yen in short-term loans.
Non-current liabilities totaled 182,183 million yen, up 25,952 million yen from the end of theprevious fiscal year. The increase reflects increases of 9,976 million yen in bonds payable, 11,858
million yen in long-term loans, 1,088 million yen in long-term lease obligations, 1,317 million yen indeferred tax liabilities, and 1,113 million yen in other non-current liabilities.

Net assets

Net assets as of March 31, 2022, rose 14,537 million yen from the end of the previous fiscal year
to 160,657 million yen. The increase reflects a decrease of 3,521 million yen in the purchase oftreasury shares, which was offset by increases of 1,915 million yen in capital obtained fromtransactions such as the conversion of convertible bonds with share acquisition rights to stock
shares, 1,739 million yen in capital surplus, 10,525 million yen in retained earnings, and 2,524 million
yen in non-controlling interests. As of March 31, 2022, the equity ratio was 30.6%, a decrease of 0.3
percentage points from the end of the previous fiscal year.

During the fiscal year under review, the Group’s operating revenue was affected by factors including the application ofrevenue recognition and other accounting standards, and its profits were affected by rising fuel prices. Nonetheless,group-wide efforts to increase sales, reduce costs, and boost productivity combined with M&As to drive year-on-yearincreases in consolidated operating revenue, consolidated operating profit, consolidated ordinary profit, and net income
attributable to owners of parent.
FY2021

FY2022 (fiscal year
under review)Operating revenues(hundreds of millionsof yen)Operating revenues(hundreds ofmillions of yen)

Change(hundreds ofmillions of yen)

PercentagechangeFood logistics

773

822

50

6.4

Chain store logistics

799

837

38

4.8

Fashion logistics

478

495

17

3.5

Other logistics

238

400

162

68.3

2,287

2,554

267

11.7

Housing logistics

583

618

35

6.0

Chemical logistics

735

859

124

16.9

Other logistics

269

295

26

9.7

3,874

4,325

452

11.7

1,618

1,530

(88)

(5.4)

232

376

143

61.6

5,724

6,231

507

8.9

Distribution
Logistics
Logistics
business

Trading & Commerce
Other businesses
Total

Vs. previous fiscal year

Logistics
business

Despite the effects of rising fuel prices, we worked to promote sales, lower costs, and boost
productivity as the volume of goods, which had fallen dramatically due to the effects of the
COVID-19 pandemic during the previous fiscal year, recovered. Operating revenues rose 45,188
million yen from the previous year to 432,538 million yen thanks to factors including contributions
from M&As. Segment profit rose 3,615 million yen to 23,013 million yen.

Trading &Commerce

Although we made AZFIT, a household paper products wholesaler, a consolidated subsidiary in
April 2021 and worked to increase sales and reduce costs, operating revenues fell 8,770 million yen
from the previous fiscal year to 153,049 million yen due to factors including the application ofrevenue recognition accounting and other related standards and increases in purchase price for fuelsales. Segment profit fell 130 million yen to 2,905 million yen.

Otherbusinesses

Operating revenues rose 14,315 million yen from the previous fiscal year to 37,550 million yen
thanks to the inclusion of Terauchi Co., Ltd., a membership-based general wholesaler and retailer, asa consolidated subsidiary in January 2021 along with efforts to increase sales and reduce costs.
Segment profit rose 161 million yen to 99 million yen.

Assets, liabilities, and net assets

Total assets

51

Total assets as of March 31, 2022, were 480,487 million yen, an increase of 44,421 million yen
from the previous year.
Current assets came to 171,033 million yen, up 7,142 million yen from the end of the previous
fiscal year. The increase reflects a decrease of 7,437 million yen in cash and cash equivalents andincreases of 9,204 million yen in trade accounts, notes receivable, and contract assets; 1,023 million
yen in electronically recorded obligations; 1,193 million yen in merchandise and finished goods; and3,190 million yen in other current assets.
Non-current assets were 309,454 million yen, an increase of 37,278 million yen from the previous
fiscal year. The increase reflects increases of 22,084 million yen in property, pant and equipment aswell as 5,709 million yen in intangible assets and 9,484 million yen in investments and other assets.

SENKO INTEGRATED REPORT 2022

Capital expenditures and depreciation
Capital expenditures in the fiscal year under review totaled 31,868 million yen. Principle expenditures included
14,864 million yen on building expansion and related projects (primarily in the Logistics business), 5,789 million yen on
vehicle and transport equipment (primarily in the Logistics business), and 5,219 million yen on property purchases andrelated transactions (primarily in the Logistics business).
Depreciation in the fiscal year under review rose 17,441 million yen from the previous year to 19,817 million yen.

Cash flows
Cash and cash equivalents at the end of the fiscal year under review fell 8,177 million yen from the end of the previous
fiscal year to 42,193 million yen.
Net cash provided by operating activities came to 31,885 million yen. This was mainly due to income before income
taxes of 24,778 million yen, depreciation of 19,817 million yen, increased funds due to increase in accrued liabilities of
3,654 million yen, despite a decrease in funds due to increase in trade receivables of 5,123 million yen, and income taxes
paid of 9,321 million yen.
Net cash used in investing activities came to 46,141 million yen. This was mainly due to purchase of property, plantand equipment of 30,311 million yen, investments in capital of subsidiaries and associates of 5,668 million yen, andpurchase of shares of subsidiaries resulting in change in scope of consolidation of 8,837 million yen.
Net cash provided by financing activities came to 5,773 million yen. This was mainly due to net increase of short-termloans of 4,671 million yen, proceeds from long-term loans of 22,563 million yen, and proceeds from issuance of bondsof 10,000 million yen, despite repayments of long-term loans of 4,035 million yen, repayments of finance/leaseliabilities of 5,359 million yen, proceeds from bonds payable of 13,288 million yen, purchase of treasury shares of 3,630
million yen, and dividends paid of 4,704 million yen.

SENKO INTEGRATED REPORT 2022

52

Overview of the SENKO Group

Strategies for Sustained GrowthFoundation for Growth

Data Section

Consolidated financial statements
Consolidated balance sheets(Millions of yen)

As of March 31, 2021

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery and equipment, vehicle and vessels
Accumulated depreciation
Machinery and equipment, vehicle and vessels, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Retirement benefit asset
Guarantee deposits
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Deferred assets
Business commencement expenses
Total deferred assets
Total assets

53

SENKO INTEGRATED REPORT 2022

As of March 31, 2021

As of March 31, 2022

AssetsCurrent assets
Cash and cash equivalents
Trade accounts and notes receivable
Trade accounts and notes receivable, and contract assets
Electronically recorded obligations - operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts(Millions of yen)

As of March 31, 2022

Liabilities
52,53082,689—2,519
12,990316
651
12,221(28)

45,093—91,893
3,543
14,18395845
15,411(34)

163,891

171,033

Current liabilities
Trade accounts and notes payable
Electronically recorded obligations - operating
Current portion of bonds payable
Current portion of convertible bonds with share acquisition rights
Short-term loans
Lease obligations
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and other officers)
Provision for loss on disaster
Other

44,3838,586
7,118
10,00922,036
4,253
5,377
6,247
420
68
25,211

50,6759,076
24—
36,335
4,632
5,052
6,585
427
416
24,420133,715

137,646

30,024
22,10874,887
14,881
260
98
149
7,103
869
3,669
2,178

40,00022,08186,746
15,970
573
196
336
7,050
950
4,987
3,291

156,230

182,183

289,946

319,830

26,56429,806
81,211(4,638)28,47931,54591,737(8,159)132,944

143,602

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans

1,759
32
57
(10)

1,472
70
755
916

Total accumulated other comprehensive income

1,839

3,215

Total current liabilities
Non-current liabilities
Bonds payable
Convertible bonds with share acquisition rights
Long-term loans
Lease obligations
Provision for retirement benefits for directors (and other officers)
Provision for special repairs
Provision for share awards
Retirement benefit liability
Asset retirement obligations
Deferred tax liabilities
Other

169,354(89,153)
80,201
77,660(52,603)
25,056
10,384(7,995)
2,388
81,62820,025(6,231)
13,793
6,484
209,554

187,259(96,162)
91,096
101,063(73,248)
27,815
13,528(10,611)
2,917
90,31323,823(8,890)14,932
4,562
231,639

9,979
8,034
18,014

12,564
11,15923,723

17,398507
5,471
13,086
4,902
3,647
(407)
44,606

17,957279
7,703
14,388
5,115
9,066
(418)
54,091

272,175

309,45400

Share acquisition rights
Non-controlling interests

410
10,926388
13,45100

Total net assets

146,120

160,657

436,066

480,487

436,066

480,487

Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity

Total liabilities and net assets

SENKO INTEGRATED REPORT 2022

54

Overview of the SENKO Group

Strategies for Sustained Growth

Data Section

Foundation for Growth

Consolidated financial statements

Consolidated statements of income(Millions of yen)

Fiscal year ended
March 31, 2021

(April 1, 2020 - March 31, 2021)

Consolidated statements of comprehensive income

Fiscal year ended
March 31, 2022

Fiscal year ended
March 31, 2021

(April 1, 2021 - March 31, 2022)

Operating revenues

572,405

623,139

Operating costs and expenses

500,653

534,352

Operating gross profit

71,751

88,786

Selling, general and administrative expenses

50,23564,015

Operating profit

21,516

24,771

Interest income

71

100

Dividend income

148

286

Share of profit of entities accounted for using equity method

400

402

Revenue from subsidies

506

531

Rental income from land and buildings

333

356

Other

1,472

1,670

Total non-operating income

2,934

3,349

Non-operating income

1,244

Other

1,052

772

Total non-operating expenses

2,223

2,016

22,227

26,103

Ordinary profit

Gain on sale of non-current assets
Gain on bargain purchase
Reversal of provision for asset retirement obligations

312

248

488

111

4,483

—

348

—

38

—

5,671

359

Provision for loss on disaster

68

416

Compensation expenses—

298

Loss on tax purpose reduction entry of non-current assets

337

253

Loss on COVID-19 impact

494

211

Gain on sale of investment securities
Total extraordinary income
Extraordinary losses—

202

Loss on retirement of non-current assets

310

182

Loss on sale of non-current assets

56

43

3,053

31

Loss on disaster

15

28

Provision of allowance for doubtful accounts for subsidiaries and associates

29

12

Provision of allowance for doubtful accounts

36

3

Loss on cancellation of leases

Impairment losses

Amortization of business commencement expenses

560—

Loss on valuation of investment securities

277—

Loss on office withdrawal

60—

Total extraordinary losses

5,299

1,684

Income before income taxes

22,59824,778

Income taxes - current

8,195

8,831

Income taxes - deferred

(320)

(230)

Total income taxes

7,874

8,601

Net income

14,724

16,177

Net income attributable to non-controlling interests
Net income attributable to owners of parent

55

SENKO INTEGRATED REPORT 2022

16,177

1,025
17
(354)
2,429
3,117
17,841

(337)
47
781
927
1,419
17,596

17,484357

16,609987

Fiscal year ended March 31, 2021 (April 1, 2020 – March 31, 2021)

Balance at beginning of period(Millions of yen)
Accumulated other comprehensive income

Total
shareholders’ equity

Valuationdifferenceonavailablefor-salesecurities

70,901(652) 126,548

779(3,971)
14,24971(3,971)
14,249———71(3,971)
14,249(4,312)
325
32
0

—
—
—
—

(4,312)
325
32
0

Share
capitalCapitalsurplusRetainedearnings

26,52829,77036

35TreasurysharesDeferred
gains orlosses onhedges14

RemeaForeign
surements
currencyof definedtranslation
benefitadjustment
plans

256

(2,439)

Total
Share
accumuacquisition
lated otherrightscomprehensive
income(1,390)432

Noncontrollinginterests

Total net
assets

8,590

134,181

Changes during period

Extraordinary income
Subsidy income(April 1, 2021 - March 31, 2022)

14,724

Consolidated statements of changes in equity

Non-operating expenses
1,171

Fiscal year ended
March 31, 2022

(April 1, 2020 - March 31, 2021)

Net income
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total other comprehensive income
Comprehensive income
Total comprehensive income attributable to:
Owners of parent
Non-controlling interests

Shareholders’ equity

Interest expenses(Millions of yen)

475

943

14,24915,233Issuance of new shares
Dividends of surplus
Net income attributable toowners of parent(4,312)326

Purchase of treasury shares(0)

Disposal of treasury shares

32

Change of scope of consolidation

0

Change in ownership interest ofparent due to transactions with
non-controlling interests
Net changes in items other than

—

980

18

(198)

2,429

3,229

(21)

2,336

5,543

shareholders’ equity
Total changes during period

36

36

10,309(3,986)

6,395

980

18

(198)

2,429

3,229

(21)

2,336

11,939Balance at end of period

26,56429,806

81,211(4,638) 132,944

1,759

32

57

(10)

1,839

410

10,926

146,120

Fiscal year ended March 31, 2022 (April 1, 2021 – March 31, 2022)
Shareholders’ equity

Balance at beginning of period(Millions of yen)
Accumulated other comprehensive income

SharecapitalCapitalsurplusRetainedearnings

TreasurysharesTotalshareholders’ equity

Valuationdifferenceonavailablefor-salesecurities

26,56429,806

81,211(4,638) 132,944

1,759

1,915

1,915
(4,708)15,233

3,830(4,708)15,233

—
—
—

3,830
(4,708)15,233(3,661)100——(3,661)
100

(136)

—

(136)

Deferred
gains orlosses onhedges32

RemeaForeign
surements
currencyof definedtranslation
benefitadjustment
plans

57

(10)

Total
Share
accumuacquisition
lated otherrightscomprehensive
income1,839

410

Noncontrollinginterests

Total net
assets

10,926 146,120

Changes during period
Issuance of new shares
Dividends of surplus
Net income attributable toowners of parent(3,661)
139

Purchase of treasury shares(39)

Disposal of treasury shares
Change of scope of consolidation(136)

Change in ownership interest ofparent due to transactions with
non-controlling interests—

Net changes in items other than

(287)

38

697

927

1,375

(21)

2,524

3,878
14,537

shareholders’ equity
Total changes during period

1,915

1,739

10,525(3,521)

10,658

(287)

38

697

927

1,375

(21)

2,524

Balance at end of period

28,47931,54591,737(8,159) 143,602

1,472

70

755

916

3,215

388

13,451 160,657

SENKO INTEGRATED REPORT 2022

56

Overview of the SENKO Group

Consolidated statements of cash flows(Millions of yen)

Fiscal year ended
March 31, 2021

(April 1, 2020 - March 31, 2021)(April 1, 2021 - March 31, 2022)

24,77819,8171,071
2(2,232)
874
218
186
416
(386)
(251)
1,244
(68)
253
(248)
182
31
—
—
—
(5,123)(592)
3,654(1,685)22(335)

Subtotal

38,895

Proceeds from subsidy income
Interest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities

Cash flows from financing activities
Net increase (decrease) in short-term loans
Proceeds from long-term loans
Repayments of long-term loans
Repayments of finance lease obligations
Proceeds from issuance of bonds
Redemption of bonds
Purchase of treasury shares
Proceeds from sale of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Payments from changes in ownership interests in subsidiaries that do not result in change in scope of consolidation
Other
Net cash provided by (used in) financing activities(As of March 31, 2022)

Company profile

Prime Market, Tokyo Stock Exchange

Trade name

SENKO Group Holdings Co., Ltd.

Stock code

9069

Established

September 1916

Authorized shares

294,999,000

Incorporated

July 1946

Outstanding shares

157,070,496

Head Office2-8-10 Shiomi, Koto-ku, Tokyo, Japan

Representative

Yasuhisa Fukuda, President andRepresentative Director

Share capital

28,479 million yen

Group employees

20,725

Group companies

161 (147 subsidiaries and 14 affiliates)

Number of shareholders 12,603
Osaka Stock Transfer Agent Division
Mitsubishi UFJ Trust and Banking
Corporation
3-6-3, Fushimimachi, Chuo-ku,
Osaka 541-8502, Japan

Administrator ofshareholders’ register

Major shareholders

Number
Percentageof shares
held(Thousands)

12.24%

Custody Bank of Japan

13,209

8.83%

Asahi Kasei Corporation

11,676

7.80%

SENKO Group Employee’s Stockholding

6,946

4.64%

STATE STREET BANK AND TRUST COMPANY

4,356

2.91%

SENKO Co., Ltd.

41,830Mitsubishi UFJ Trust and Banking Corporation

4,060

2.71%

Runtec Corporation

312
622(1,150)(6,822)31,858248
377(1,249)(9,321)
31,885

Isuzu Motors Ltd.

4,039

2.70%

Tokyo Nohin Daiko Co., Ltd.

JPMORGAN CHASE BANK

3,554

2.38%

SENKO A Line Amano Co., Ltd.

Tokio Marine & Nichido Fire Insurance Co., Ltd.

3,439

2.30%

Nippon Marine Co., Ltd.

(2,069)1,803(33,618)
1,455
—
(987)
(11,386)(1,505)(46,309)(2,071)
2,028(30,311)907(5,668)(1,097)(8,837)(1,091)(46,141)

Sekisui Chemical Co., Ltd.

3,393

2.27%

Across Transport Co., Ltd.

(157)

304

Net increase (decrease) in cash and cash equivalents

22,149(8,177)

Cash and cash equivalents at beginning of year
Increase in cash and cash equivalents resulting from inclusion of subsidiaries in consolidation

27,142
1,078

50,371—

Cash and cash equivalents at end of period

50,371

42,193(As of March 31, 2022)

Listed exchange

18,313

4,671
22,563(4,035)(5,359)10,000(13,288)(3,630)
6(4,704)
(148)
(249)
(51)
5,773

SENKO INTEGRATED REPORT 2022

Share Status

The Master Trust Bank of Japan, Ltd.

334
21,566(14,510)(4,465)
42,110(48)(4,312)106(3,967)(169)—
113
36,757

Effect of exchange rate change on cash and cash equivalents

57

Fiscal year ended
March 31, 2022

22,59817,441779(78)(3,376)
2,472
570
(121)
68
(220)
(109)
1,171
(431)
337
(312)
310
3,053
(4,483)(348)
560(1,539)
(682)
1,947
551
(1,773)509

Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Payments for investments in capital of subsidiaries and associates
Payments for guarantee deposits
Purchase of shares of subsidiaries resulting in change in scope of consolidation
Other
Net cash provided by (used in) investing activities

Data Section

Foundation for Growth

Share Status and Company Profile

Consolidated financial statements

Cash flows from operating activities
Income before income taxes
Depreciation
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Decrease (increase) in retirement benefit asset
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for share awards
Increase (decrease) in provision for loss on disaster
Interest and dividend income
Foreign exchange losses (gains)
Interest expenses
Loss (gain) on sale of non-current assets
Loss on tax purpose reduction entry of non-current assets
Subsidy income
Loss on retirement of non-current assets
Impairment losses
Gain on bargain purchase
Reversal of provision for asset retirement obligations
Amortization of business commencement expenses
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in accrued liabilities
Increase (decrease) in accrued consumption taxes
Decrease (increase) in consumption taxes refund receivable
Other

Strategies for Sustained Growth

Main group companies
Domestic

SENKO Shoji Co., Ltd.

Shareholders by type

Smile Corp.
AST Corporation

Treasure stock1
7,340,766
4.67%

Individuals andothersFinancial institutions

Overseas44
56,326,412
35.87%

Dalian Tri-Enterprise Logistics Co., Ltd.

12,05923,475,206
14.95%

Overseas
financial
institutions
and individuals

Shanghai Senko International Freight Forwarding Inc.
Guanzhou Senko Logistics Co., Ltd.
Senko International Logistics Pte. Ltd.

Shareholders
by type239
33,875,277
21.57%

Other domestic corporations

Shanghai Smile Corp.
HONG KONG SMILECORP LIMITED

Securities firms

KOREA SMILE CORP LIMITED

29
2,145,357
1.37%

SMILECORP VIETNAM CO., LTD.

231
33,907,478
21.59%SENKO INTEGRATED REPORT 2022

58