Part 1

VALUE CREATION BY THE YAMATO GROUPVALUE CREATION BY THE YAMATO GROUP

CONTENTSThe Yamato Group’s Important Role as a Part of Social Infrastructure
Since its founding in 1919 as Yamato Transport Co., Ltd., theYamato Group has created a large number of services that were
unprecedented at the time, starting with TA-Q-BIN. By doing so,
the Group has established itself as a corporate group thatserves as a crucial part of social infrastructure. Recently, there
have been major changes in the business environment surrounding Yamato and changes to consumption behavior and logistics
structures have accelerated. Accordingly, the active participation of corporations in resolving social and environmental issues
is becoming increasingly important to the achievement of a sustainable society.

Under such circumstances, the Yamato Group aims to realize
sustainable business growth by expanding the value we provide
to the “End to End” of our customers’ supply chains. We willachieve this by promoting business structure reform centeredon the structural reform of network operations and expanding
the corporate business domain based on the One YAMATO
management structure, which centralizes the management
resources of all Group companies.
Through these efforts, we will contribute to the creation of anenriched society, a goal laid out in our Management Philosophy,
and improve medium- to long-term corporate value.

Group Summary*

Operatingrevenues¥1,800.6 billion

Operation facilities forcorporate clients*1

Approx.

400

Overseasdevelopment

24 countries and regions
Domestic parcel
delivery market share*2

No. 1(47.5%)* The fiscal year ended March 31, 2023, or as of March 2023

Operatingprofit¥ 60.0 billion

TA-Q-BIN sales offices

3,331

Annual parcel delivery
amount(TA-Q-BIN, TA-Q-BIN Compact, EAZY, andNekopos)billionparcels

VALUE CREATION BY THE YAMATO GROUP

Network coverage of
TA-Q-BIN in Japan

Approx.

02

Approx.

56 million*1 Warehouses, pickup and delivery facilities for corporate clients, and other locations*2 Source: “Survey and Calculation Method for Parcel Delivery Amount” (provisional translation) compiled by Japan’s Ministry of Land,
Infrastructure, Transport and Tourism

Forward-Looking Statements 

Editorial Policy 

Guidelines Referenced This integrated report contains forward-looking
statements concerning Yamato Holdings’ futureplans, strategies, and performance. Thesestatements represent assumptions and beliefs
based on information available at the time thisreport was created. Furthermore, forward-looking statements are subject to a number of risks
and uncertainties that include, but are not limited to, economic conditions, customer
demand, foreign currency exchange rates, tax
laws, and other regulations. Yamato Holdings
therefore cautions readers that actual results
may differ materially from these predictions.

Having built up long-standing relationships oftrust with all of its many and varied stakeholders,the Yamato Group discloses not only informationof a legal nature but also information considerednecessary for those stakeholders. The YamatoGroup adopted the policy that such information
shall be conveyed promptly and accurately aswell as fairly and equitably. Conveying information, including that of a non-financial nature, onsuch aspects as management strategies, business overviews, and environmental, social, andgovernance (ESG) activities, this integrated
report is intended to deepen the reader’s comprehensive understanding of the Yamato Group.
Please visit our website for more detailed
information.

• Guidance for Integrated
Corporate Disclosure andCompany-Investor Dialogue forCollaborative Value Creation
2.0,
Ministry of Economy, Trade and Industry• Integrated Reporting Framework, International
Financial Reporting Standards Foundation(IFRS Foundation)

CORPORATE GOVERNANCE
44	Outside Director Roundtablea Part of Social Infrastructure / Editorial

50

Policy58 	Directors / Audit & Supervisory

Group Corporate Philosophy

Corporate Governance
Board Members / Management
System04	History of Expanding the Value We

Provide (100 Years of Progress)
06 	Expanding Value Provision to the“End to End”

60,000

Number of Kuroneko
Members

44

01	The Yamato Group’s Important Role as

Sales drivers

Approx. 210,000

2.33

01

100 %

Number of
employees

Approx.

Part 1

08

Value Creation Process

10

Performance Highlights

62

FINANCIAL SECTION
62	Ten-Year Summary and BusinessHighlights
64 	Consolidated Financial

12Statements

DESTINATION OF ONE YAMATO
12

Message from the President

16	Message from the Chief Financial Officer

96

COMPANY INFORMATION

18	Structural Reform of Network Operations

96

Global Network

22

Expansion of Corporate Business Domain

97

Corporate Data / Stock Information

26

Human Resource Strategy

32

Digital Strategy

34

Environmental Strategy

38

Sustainable Management
38 Strengthening of Sustainable

Management
40 Sustainable Medium-Term Plans

2023
42 Measures That Support Sustainable

GrowthYAMATO HOLDINGS CO., LTD.
Integrated Report 2023

01

Part 1VALUE CREATION BY THE YAMATO GROUPVALUE CREATION BY THE YAMATO GROUP

Part 1

Group Corporate Philosophy
The Yamato Group’s foundation lies in its Core Values, which serve as the spirit of the Group’s founding and have remained unchanged
since their establishment in 1931. Supported by our Group Corporate Philosophy, created based on our unchanging Core Values, we
aim to become a corporate group that can make sustainable contributions to the realization of an enriched society.

MissionManagement Philosophy

The mission and purpose the

Yamato helps enrich our society by enhancing

Yamato Group should fulfill in society

our social infrastructure, creating moreManagement Philosophy

convenient services for evolving lifestyles andindustries, and developing innovative logistics
and distribution systems.

VisionCore Values

Our vision for the Yamato Group

1. We all represent the Company.

in the futureThis value represents the spirit of “inclusive management,” whereby employees makedecisions based on their own judgments and engage with our customers and business
partners with an awareness that they represent the Company.

Transformation Plan “YAMATO NEXT100”
Environmental Vision

2. We connect our customers’ hearts with every delivery.
This value defines deliveries as not simply the transportation of goods, but rather achance for us to connect with our customers' hearts and offer them joy.

3. We conduct ourselves both professionally and ethically.

Social Vision

Medium-Term Management Plan “One YAMATO 2023”
Expansion of value provided to the “End to End” of supply chains

This value reflects the importance of ensuring that all our employees adhere to laws andregulations as members of society while conducting themselves in an ethical manner.

ValuesValues that are key to realizing theIncorporating the Founding Spirit within Our Core Values

Company founderYasuomi Ogura

Our Core Values, which were established by our founder Yasuomi Ogura in 1931 shortly after
our founding, have always been considered something that should remain unchanged throughout our over 100-year history. When it came to corporate management, Yasuomi Ogura
believed that no matter how logically a businessperson ran a company, the efforts of eachindividual employee are the most important aspect of preventing that company’s organizationfrom becoming a mere formality and of having that company be accepted by society.
Personnel involved in our transport businesses work on their own individual routes on adaily basis, which means it can take a certain amount of time before the direction of upper
management is communicated to them. Yasuomi Ogura believed that the independence ofeach employee who places importance on the Core Values could compensate for this timelag. He therefore took steps to spread awareness of the Core Values across the Company.

For more details, please refer to our corporate website.
Corporate Philosophy, including Corporate Stance and Employee
Code of Conduct

https://www.yamato-hd.co.jp/english/company/
philosophy.html

02

YAMATO HOLDINGS CO., LTD.
Integrated Report 2023

Various Policies and Declarations

Yamato Group’s Mission
Corporate Stance

Employee Code of
Conduct

Yamato Group values and policies for demonstrating approaches
Yamato Group
Human Rights
PolicyBasic Policy on
Diversity

Yamato Group
Human Resources
Management
PolicyYamato Group
Environmental
PolicyYamato Group
Responsible
Procurement
Policyetc.

Core Values

https://www.yamato-hd.co.jp/english/csr/esg/
policy.html
YAMATO HOLDINGS CO., LTD.
Integrated Report 2023

03

VALUE CREATION BY THE YAMATO GROUPVALUE CREATION BY THE YAMATO GROUP

Part 1

History of Expanding the Value We Provide

The Yamato Group has developed into what it is today by accepting the changes each era brought and proposing products and services required by customers. We commenced a route-based, regular delivery service (Japan’s first regular route transport service).
Following this, we launched the TA-Q-BIN service to meet the delivery needs of countless customers and expanded the value we provide to meet the needs of varied customers, from individuals to corporate clients. In 2019, we celebrated our 100th anniversary. Basedon the sudden and significant changes in the business environment, we embarked on structural reform to realize sustainable growthand improvement of medium- to long-term corporate value.

Founding of
YamatoTransport
Co., Ltd.

Direction ofstrategies

Delivery company

Business
environment(100 Years of Progress)

1919

Around 1919

Around 1960

Transformation of freighttransportation (from ox- andhorse-drawn carriages andwagons to trucks)

Functions (including products and services)

Around 2000

Rapid economic growth tostable growth
improvement in standard ofliving and purchasing power

Around 2020
Emergence and spread of
COVID-19

Changes to lifestyles andexpansion of needs fromhome delivery to individual
delivery

Changes in consumption
behavior and logistics
structures

Around 1929

Around 1976

Around 2000

Around 2013

Launch of regular route transport service

Launch of TA-Q-BIN service

Promotion of Group management

Creation of solutions in corporate logistics

Response to demand for small-lot delivery

 rovision of products andP
services that meet
consumer needs

Further advancementof Delivery Business reation of highCvalue-added
business modelIndependent growthof non-delivery
businesses xpansion of TA-Q-BIN
E
network

1929

Launch of regular route, combined-load transport
service between Tokyo and Yokohama

200000200000Conclusion of agent contract with
C.A.T. (Civil Air Transport), a
Taiwanese airline, and launch of air
freight handling

100000100000

Launch of marine
freight handlingshipping
operations

1958

Launch of artwork
packing and shipping

1960

50000
50000

1986

Launch of TA-Q-BIN
service

Launch of Collect service (Currently
TA-Q-BIN Collect)

1983

Establishment of TA-Q-BIN
service points (currently
distributors)

Launch of Kuroneko
Members, membersonly service for individual clients

2002

Launch of TA-Q-BIN EmailNotification service

1989

Launch of Golf TA-Q-BIN
service2007

Launch of TA-Q-BIN
Time Zone Delivery
service

Launch of Cool TA-Q-BIN
service

1984

1976

Reinforcement ofbusiness
infrastructure byinnovating networks

1998

1988

Launch of Ski TA-Q-BIN
serviceLaunch of International
TA-Q-BIN service

150000150000

1951

1952

1976

2005

Launch of Airport
TA-Q-BIN service

Launch of TA-Q-BIN
Collect, comprehensive
payment settlement
service for mail-orderdealers

1987

Launch of TA-Q-BIN service
at convenience stores

1960

2015

Launch of TA-Q-BIN Compact
serviceLaunch of Nekopos service

The fiscal year ended March 31, 20202012

Launch of Yamato Business
Members, members-only service forcorporate clients

Completion of network for regulardeliveries across the Tokyo metropolitan area and surrounding areas

2000

Establishment of Yamato System Development Co., Ltd. andcommencement of business in information and communication domain

Establishment of PUDO Stations(open-type parcel lockers)

From April 2021

Launch of third-party logistics (3PL)
business

2012

Launch of Total Logistics Support
service for medical equipment
manufacturers“One YAMATO 2023”

2007

Launch of Kuroneko Yamato Recall Support service

001970

1980

1990

2000

2010

2020

Expansion of domestic TA-Q-BIN network
Ratio of area covered across Japan

1976

1,630.1billion

¥

2016

Changes in Operating Revenues

1935

100th Anniversary of theCompany’s Founding

Medium-Term Management Plan

1973

Launch of international mixed air-freight handling

1920

Part 1

3.4%

1989

99.5%

2013

1997

Completion of domestic TA-Q-BIN network

Launch of operations at
Haneda Chronogate

Launch of the One YAMATO management structure,
which centralizes the management resources of theGroup with the aim of providing value to the “Endto End” of the businesses of our corporate clients, including clients based overseas, inboth the upstream and downstream
domains

Networks

Expansion of overseas network

1980

Establishment of Yamato
Transport U.S.A. Inc.

1982

1983

Establishment of Yamato Transport (S) Pte. Ltd.

Establishment of Yamato
Transport (Hong Kong) Ltd.
(Currently Yamato Logistics(Hong Kong) Ltd)

04

YAMATO HOLDINGS CO., LTD.
Integrated Report 2023

1986

Establishment of Yamato
Transport (Nederland) B.V.
(currently Yamato
Transport Europe B.V.)

2020

2003

Establishment of Yamato (Shanghai) Logistics Co., Ltd.
(the predecessor of Yamato International Logistics Co., Ltd.)

27 overseas subsidiaries
25 countries and regions of operation(including representative offices and branch offices)2016 onclusion of agreement for business collaboration andCcapital alliance with major Malaysian delivery company GD
Express Carrier BHD. (currently GDEX Berhad)Acquisition of stock in OTL Group, of Malaysia

YAMATO HOLDINGS CO., LTD.
Integrated Report 2023

05

VALUE CREATION BY THE YAMATO GROUPVALUE CREATION BY THE YAMATO GROUP

Part 1

Expanding Value Provision to the “End to End”

From April 2020

From April 2021

Transformation Plan “YAMATO NEXT100”

Medium-Term Management

Part 1

Recently, there have been major changes in the business environment surrounding Yamato, and changes to consumption behavior andlogistics structures have accelerated. Accordingly, the active participation of corporations in resolving social and environmental issues
is becoming increasingly important to the achievement of a sustainable society. Under such circumstances, the Yamato Group aims torealize sustainable business growth by expanding the value we provide to the “End to the End” of our customers’ supply chains. We
will achieve this through promotion of business structure reform centered on the structural reform of network operations and expansion of the corporate business domain based on the One YAMATO management structure, which centralizes the management
resources of all Group companies.

Plan “One YAMATO 2023”

Business Structure Reforms
Group Management Structure Reform

Point

We are embarking on Group management structure reformand business structure reforms to sustainably meet the
expectations and needs of customers and society, based
and worsening social issues.
Business Environment /Social Issues

Issues with theManagement Structure iversification of customer
D
expectations and needs

 ecentralization of manageD
ment resources of operatingcompanies for each function(partial optimization)D eclining workforceC limate change and resource
scarcity

Review of Business PortfolioL imits of conventional business model that utilizes
TA-Q-BIN ependency on experienceDand intuition in individual
decision-making
 orporate culture focusedC
on self-reliance(Fiscal Year Ended March 31, 2011, to Fiscal Year Ended March 31, 2020)(¥ billion)

(%)

2,000

10.0

1,500

7.5

1,000

5.0

500

2.5

0

0

Operating revenues (left scale)Operating profit margin (right scale)

06

YAMATO HOLDINGS CO., LTD.
Integrated Report 2023

 ransfer of shares issued by Yamato Lease Co., Ltd.
T
and Yamato Home Convenience Co., Ltd.
(wholly-owned subsidiary → equity-method affiliates) ithdrawal from development of TA-Q-BIN in EastW
Asia and Southeast Asia

Review

Changes in Operating Revenues and Operating Profit Margin

2011/3 2012/3 2013/3 2014/3 2015/3 2016/3 2017/3 2018/3 2019/3 2020/3

Creation of One YAMATO Management Structure
 entralization and redeployment of management
C
resources by integrating Yamato Transport with eightGroup companies

on the accelerating changes to the business environment

 eclining population andDrural depopulation

P18–21

 einforcement of existing networks as well as creatRing and expanding designated networks

Identification of Issues

 apid progress of EC (e-comR
merce) adoption in various
industries

Structural Reform of Network Operations( Fiscal Year Ended March 31, 2022, toFiscal Year Ended March 31, 2023)

Medium-Term Management Plan
“One YAMATO 2023”—Results and Issues
Results

Issues Creation of One YAMATO management structure,
which centralizes Group resources
Progress in creation of EC logistics network as a starting point
Completion of overall design and launch of phased
implementation to reinforce existing TA-Q-BIN network
Expansion of domains in which we provide value, suchas domestic EC procurement and returns domain,cross-border EC for Japan, logistics in three temperature ranges for food distributors, and Lead Logistics
Partner projects (LLP contacts)

Strengthening of response to logistics needs in growthdomains as well as enhancement of network quality andefficiency

Expansion of Corporate Business Domain

P22–25

Vision xpansion of value provision by combining domesticEand international facilities and transportation anddelivery networks, third-party logistics, and international forwarding
Point
Expanding value provision to the “End to End” of domestic and global customer supply chains

Promotion of Fundamental Strategies
that Support Structural Reforms
Human
Resource
Strategy
P26–31

DigitalStrategy

Environmental
Strategy

P32–33

P34–37

Expanding value provision to the “End to End”
of customer supply
chainsAchievement of sustainablebusiness growth Structural reform for integration of sales and operations
 ontinuous reinforcement of management foundation
Cthat supports business structure reforms

	
Optimization of pricing based on changes to the external environment

Reinforcement of Foundation for Improving Sustainable Corporate Value

Strengthening of sustainable management × Strengthening of corporate governanceP38–43		
P44–61YAMATO HOLDINGS CO., LTD.
Integrated Report 2023

07

Part 1VALUE CREATION BY THE YAMATO GROUPVALUE CREATION BY THE YAMATO GROUP

Part 1

Value Creation Process

Business Environment / Social Issues

Our Vision• Diversification of customer expectations and needs • Rapid progress of EC adoption in various industries• Declining population and rural depopulation • Declining working population• Climate change and resource scarcity• Management Philosophy:
Contribute to the creation of an enriched society

Rising costs due to changes in the external environment• Environmental Vision: Connect. Deliver the future via green
logistics• Now: Impact on infrastructure following uncertain international circumstances• Social Vision: Through co-creation and fair businessactivities, help create a society that “leaves no one behind”

Sustainablecorporate value
improvement• Future: Labor shortage (2024 problem and 2030 problem)

Management Resources / Strengths (As of March 31, 2023)

CustomerFoundation

CorporateclientsY amato Business Members :Approx. 1.60 million

ConsumersK uroneko Members :Approx. 56 million

×
Human
Resources

Employees

Approx. 210,000

Sales
drivers

Approx. 60,000

Value Creation Strategies

Logistics
Network

Transportationand delivery
network

Data

March 31, 2027)

Medium- to long-term viewpoint targets
Greenhouse gas (GHG) emissions*2:

Environmental

Structural Reform of Network Operations

Virtually zero by 2050
48% reduction by 2030*

3*2 In-house emissions of consolidated companies
in Japan and Swan Co., Ltd. (Scope 1 & Scope 2)*3 Compared to fiscal year ended March 31, 2021

T
 A-Q-BIN network

Promotion of fundamental strategies that support structural reforms

Designated networks (EC logistics, refrigerated and frozen, and corporate)

Medium- to long-term viewpoint*1
Human
Resource
Strategy

Human productivity*4:
DigitalStrategy+15% compared with the fiscal

Environmental
Strategy

year ended March 31, 2023

Enhancementof non-financial
value(fiscal year ending March 31, 2027)
Improvement of engagement:
Level that exceeds record-high ales drivers / sales representatives / guest
S
operators / call center operators / Kuroneko
Members / Yamato Business Members , etc.

figures in employee awarenessApprox. 2.33 billion parcels a year

Credit rating (R&I): AA–

March 31, 2027)
ROE: Over 13% (fiscal year ending

Sales offices (TA-Q-BIN ): 3,331

×Soundness

Financial

Expansion of Corporate Business Domain

 orporate operation facilities:C
Approx. 400

The Yamato Digital Platform (YDP)

Financial
Foundation

Enhancementof financial
value

Enhancement of profitability and growth potential through business structurereform to integrate sales and operations

×
Information

Consolidated operating profit

margin: Over 7% (fiscal year ending

International transport (forwarding andcross-border land transportation in Asia)

Physical anddigital customer
contact points

Medium- to long-term viewpoint*1

Expanding value provision to the “End to End” of supply chains×
Base network

OutputSocialReinforcement of foundation to improve sustainable corporate value
Strengtheningof sustainable
management

Energy &ClimateAtmosphere

Resource
Conservation &Waste

Resilience ofCompanies &SocietyLabor

Human Rights &Diversity

Safety &Security

Data Utilization& Security

Supply Chain
Management

Community

surveys*5 (fiscal year ending March
31, 2027*4 (Consolidated operating revenues – consolidated
subcontracting expenses) ÷ consolidated
personnel expenses*5 For consolidated companies in Japan and
Swan Co., Ltd.

Medium- to long-term viewpoint targets

Strengthening of corporate governance

Serious traffic accidents*6: zero

Serious occupational diseases*7: zero
*6 Fatal accidents for which the Company is responsible*7 Incident involving a fatality*1 Expectation for beginning of fiscal year ending March 31, 2024

08

YAMATO HOLDINGS CO., LTD.
Integrated Report 2023

YAMATO HOLDINGS CO., LTD.
Integrated Report 2023

09Part 1VALUE CREATION BY THE YAMATO GROUPVALUE CREATION BY THE YAMATO GROUP

Performance Highlights(Year Ended March 31, 2023)

Financial Information

Non-Financial Information

Operating revenues amounted to ¥1,800,668 million, up 0.4% year on year, owing to an increase in the number of parcels handled by theCompany in response to the continued growth of the EC domain, and Yamato’s focus on the optimization of logistics for customers. As aresult of rising fuel prices, hourly wages, electricity rates, and other expenses, and an increase in costs associated with the promotion of
our medium-term management plan “One YAMATO 2023,” such as structural reform of network operations, operating profit came to¥60,085 million, down 22.2% year on year. Due to a decline in total income taxes, following the approval to liquidate overseas consolidated subsidiaries, profit attributable to owners of parent stood at ¥45,898 million, a decline of 18.0%, and ROE was 7.6%, decreasing 2.0
percentage points

We are working to promote sustainable management to improve medium- to long-term corporate value and realize a sustainable society. During the fiscal year ended March 31, 2023, (the second year of these plans), we have been engaging in reducing GHG emissions
through the introduction of EVs and solar power generation equipment, reinforcing the recruitment and development of specialized
personnel, and creating a working environment that respects the diversity of human resources and enables employees to play anactive role, based on Sustainable Medium-Term Plans 2023, which sets out targets and specific actions for material issues in 2023. We
will continue promoting various measures leading to sustainable growth that supports business structure reform.

Operating Revenues

Operating Profit / Operating Profit Margin(¥ billion)(¥ billion)

1,800.6

2,000

(%)

GHG Emissions*3 /GHG Emission Intensity

Percentage of Electricity Generated via Renewable
Energy Sources in Electricity Consumption*3*4

Number of Employees /Human Productivity*5(Thousand tCO2e)(%)(People)(tCO2e/operating revenues of ¥100 million)

860

950

6

120

100

5

100

60.0
3.3%

80
60

1,000

80

900

43.9

4
850

30

40

2

20

1

60

20
15

40

800

2019/32020/32021/32022/302023/3

2019/32020/32021/32022/3(Millions of parcels)(%)(¥ billion)

1,000

10

500

5

0.4%

0

2020/32021/32022/32023/3

Parcel delivery amount (left scale)Parcel unit price growth rate (YoY) (right scale)

60

12

40

0

2019/32020/32021/32022/3

610.3

400

(100)

(49.4)
2019/32020/3

Cash flows from operating activities
Free cash flows

YAMATO HOLDINGS CO., LTD.
Integrated Report 2023

2021/32022/32023/3

Cash flows from investing activities

0
2019/32020/32021/32022/32023/350

2022/32023/30(People)(%)

70%
68%
67%
66%
61%

2019/32020/32021/32022/32023/3

98.1%
100

700

80

(Units)

2021/3

Total shareholders’ equity (left scale)
Shareholders’ equity ratio (right scale)2022/32023/3

0

5.7%

500

60

400

40

300

0

10

600

369

200

2019/32020/32021/32022/302023/3

8
6
4
2

100

Percentage of annual paid vacation days taken

Number of Serious Traffic Accidents*8/ Number of Serious Occupational
Diseases*9

2019/32020/32021/32022/32023/30

Number of women in management (left scale)
Percentage of women in management (right scale)*1 Definition: TA-Q-BIN, TA-Q-BIN Compact, and EAZY
*2 Free cash flows = Cash flows from operating activities + Cash flows from investing activities*3 Scope: consolidated companies in Japan and Swan Co., Ltd.
*4 Electricity generated via renewable energy sources (MWh) ÷ Total power generated (MWh)*5 (Consolidated operating revenues – consolidated subcontracting expenses) ÷ consolidated personnel
expenses10*6 A
 wareness surveys regarding working styles administered on an annual basis (scope: full-time andpart-time employees of Yamato Group companies in Japan)
×100
*7 N
 umber of employee resignations in respective fiscal year (of their own accord)

6202020/32021/3(%)

855

2019/32020/3(%)

4

0

2019/3

Number of Women in Management /Percentage of Women in Management*3

RewardingDesire to continue employment
Sense of growth
Sense of contribution to the Company

(%)
60

200

(50)

1.1

Percentage of Annual Paid Vacation
Days Taken*7

Employee-friendly

ROE (right scale)

55.1%

0

0

20

0

2023/3

40.5

50

0

4

150
100

210,197

Number of employees (left scale)
Human productivity (right scale)

60
20

600

89.9

2023/3

70

8

7.6%

(¥ billion)

200

2022/380

Total Shareholders’ Equity / Shareholders’ Equity Ratio(¥ billion)

2021/3

45.8

Profit attributable to owners of parent (left scale)Operating and Investing Cash Flows /Free Cash Flows*2

2020/30(5)

1.2

Employee Awareness Surveys*650
2019/3

2019/3

GHG emissions (left scale)
GHG emission intensity (right scale)

(%)

15

1,500

190,000

Operating profit margin (right scale)Profit Attributable to Owners of Parent / ROE

20

0

0

2023/3

Parcel Delivery Amount*1 /Parcel Unit Price Growth Rate (YoY)
1,926

1.3

5

Operating profit (left scale)

2,000

1.4

210,000

170,000

10

500

0

22%

25

3

1.32

230,000

40
35

1,500

10

Part 1

0/0
2019/32020/32021/32022/32023/3

Number of serious traffic accidents	Number of registered employees as of respective fiscal year-end + Number of
employee resignations in the respective fiscal year(including those due to retirement, etc.)(Scope: Full-time employees of consolidated companies in Japan and Swan Co., Ltd.)*8 Fatal traffic accidents (for which the employee is responsible)*9 Incidents involving a fatality

Number of serious occupational diseases

YAMATO HOLDINGS CO., LTD.
Integrated Report 2023

11