Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

August 2, 2024

Financial Highlights for 1st Quarter FY2024(Under Japanese GAAP) (Unaudited)
Company name:

Kawasaki Kisen Kaisha, Ltd.

Listing:

Prime Market of Tokyo Stock Exchange

Securities code:

9107

URL:

https://www.kline.co.jp/en/

Representative:

Yukikazu Myochin, Representative Director, President &CEOInquiries:

Goro Kitamura, General Manager, Corporate Sustainability,
Environment Management, IR and Communication Group

Telephone:+81-3-3595-5189

Scheduled date to commence dividend payments:-

Preparation of supplementary material on financial results:

Yes

Holding of financial results briefing:

Yes (for Analysts)(Amounts rounded down to the nearest million yen)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30,2024)(Percentages indicate year-on-year changes.)(1) Consolidated operating results (cumulative)
Operating income(loss)

Operating revenues

Profit (loss)
attributable to ownersof the parent

Ordinary income(loss)

Million yen%

Million yen%

Million yen%

Million yen%

Three months ended
June 30, 2024

267,60921.2

30,71758.3

74,84658.6

72,543

96.7

Three months ended
June 30, 2023

220,711(3.4)

19,4092.8

47,202(82.3)

36,882(86.2)¥¥

148,274 million [13.9%]
130,184 million[(62.4)%]

Note: Comprehensive income for the three months ended June 30, 2024:
For the three months ended June 30, 2023:

Profit (loss) per share

Profit (loss) per
share-fully diluted

Yen

Yen

Three months ended
June 30, 2024

104.67-

Three months ended
June 30, 2023

49.72

-

- 1 -

1. The Company split its common share on the basis of one (1) share into three (3) shares effective April 1, 2024.
Accordingly, profit (loss) per share is calculated on the assumption that the stock split was conducted at the

beginning of the previous fiscal year ended March 31, 2024.
2. Due to a change in accounting policy, results for the three-months ended June 30, 2023, have been
re-presented retrospectively.

(2) Consolidated financial position
Total assets

Net assets

Shareholders’equity ratio

Million yen

Million yen%

As of June 30, 2024

2,145,937

1,665,254

76.1

As of March 31, 2024

2,109,432

1,624,600

75.5

Reference: Shareholders’equity:
As of June 30, 2024:
As of March 31, 2024:¥ 1,631,995 million¥ 1,591,925 million*Due to a change in accounting policy, figures as of March 31, 2024, have been re-presented retrospectively.
2. Dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Yen

Yen

Year ended
March 31, 2024-

100.00-150.00250.00Year ending
March 31, 2025

42.50

-

42.50

85.00

Year ending
March 31, 2025

Fiscal year-end

Total(Forecast)*Revision to the forecast of dividends most recently announced: None
The Company implemented a 3-for-1 stock split of common shares on April 1, 2024.
The dividends per share for the fiscal year ended March 2024 represent the actual amount of dividend before thestock split.

- 2 -3. Consolidated Financial Results Forecast for the Year Ending March 31, 2025 (April 1, 2024 to March 31,
2025)(Percentages indicate year-on-year changes.)

Cumulative second
quarter ending
September 30,
2024
Year ending
March 31, 2025

Operating revenues

Operating income(loss)

Ordinary income(loss)

Profit (loss)
attributable toowners of the parent

Million yen%

Million yen%

Million yen%

Million yen%

Yen

533,000

16.8

60,00035.7

166,500

101.6

162,000

166.4

236.36

1,020,000

6.5

102,000

21.2

220,000

65.8

210,000

105.9

308.53

Profit (loss)
per share*Revision to Consolidated Financial Forecasts most recently announced: None
Percentage change year-on-year and percentage change from the same period of the previous fiscal year are shownin comparison with the retroactively adjusted figures for the previous year due to a change in accounting policy.
4. Notes(1) Significant changes in the scope of consolidation during the quarter period: None
Newly included: None
Excluded:None(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates, and restatement(ⅰ) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ⅱ) Changes in accounting policies due to other reasons: Yes(ⅲ) Changes in accounting estimates: None(ⅳ) Restatement: None

(4) Number of issued shares (common shares)(ⅰ) Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024

714,728,067 shares

As of March 31, 2024

714,728,067 shares(ⅱ) Number of treasury shares at the end of the period
As of June 30, 2024

39,588,182 shares

As of March 31, 2024

7,773,052 shares(ⅲ) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024

693,062,964 shares

Three months ended June 30, 2023

741,822,802 shares- 3 -*The Company split its common share on the basis of one (1) share into three (3) shares effective April 1, 2024.
Accordingly, total number of issued shares at the end of the period, number of treasury shares at the end of theperiod and average number of shares outstanding during the period are calculated on the assumption that the stock
split was conducted at the beginning of the previous fiscal year ended March 31, 2024.
*Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified

public accountants or an audit firm: None
*Assumption for the forecast of consolidated financial results for the year ending March 31, 2025
The forecast is based on currently available information that KLINE deems to be reasonable. Actual results may
differ from the forecast as a result of various factors.
Refer to “5. Qualitative Information on Quarterly Financial Results (3) Description of Information on Future
Outlook, Including Forecast of Consolidated Financial Results” for assumptions related to the forecast.

- 4 -5. Qualitative Information on Quarterly Financial Results(1) Description of Operating Results(Billion yen)Three months ended Three months ended
June 30, 2023
June 30, 2024

Change% Change

Operating revenues

220.7

267.6

46.8

21.2%

Operating income (loss)

19.4

30.7

11.3

58.3%

Ordinary income (loss)

47.2

74.8

27.6

58.6%

Profit (loss) attributable to owners of theparent

36.8

72.5

35.6

96.7%

135.81155.02

19.21

14.1%

609

629

20

3.3%

Exchange Rate (¥/US$)(3-month average)
Fuel oil price (US$/MT)(3-month average)

The Company recorded 37.2 billion yen of equity in earnings of unconsolidated subsidiaries and affiliates for the
consolidated cumulative first quarter of this fiscal year and OCEAN NETWORK EXPRESS PTE. LTD.
(hereinafter referred to as "ONE") accounted for 37.8 billion yen of this amount.
The Company has changed the currency conversion method into Japanese yen in income and expenses of foreign
consolidated subsidiaries from using spot rate on the financial closing date to average rate of during the term fromthe beginning of the first quarter ended June 30, 2024. Due to this change, the Company has compared the results

for the three-months ended June 30, 2024, and the results for the three-months ended June 30, 2023, that have been
re-presented retrospectively.
Performance per segment was as follows.
(Billion yen)Three months ended Three months ended
June 30, 2023
June 30, 2024

Change% Change

Operating revenues

72.0

88.3

16.2

22.6%

Segment profit (loss)

1.4

7.6

6.1

413.6%

Operating revenues

23.1

25.6

2.5

10.9%

Segment profit (loss)

2.1

1.2

(0.9)

(44.5%)

Operating revenues

122.6

151.1

28.5

23.3%

Segment profit (loss)

44.3

66.4

22.0

49.6%

Operating revenues

2.8

2.4

(0.4)

(14.8%)

Segment profit (loss)

0.7

0.4

(0.3)

(38.0%)

Segment profit (loss)

(1.6)

(0.8)

0.7

-%

Operating revenues

220.7

267.6

46.8

21.2%

Segment profit (loss)

47.2

74.8

27.6

58.6%

Dry bulk

Energy resource
transport

Product logistics

Other
Adjustments andeliminations
Total

- 5 -

(i)

Dry Bulk Segment

Dry Bulk BusinessIn the Cape-size sector, transportation of iron ore and bauxite from the Atlantic to East Asia was steady. In May,
iron ore exports from Western Australia increased. Market rates stayed firm due to generally steady transportation
demand including these.
In the medium-small vessel sector, market rates stayed firm as the export volume was large despite the off-seasonof grain production in South America, and coal was shipped steadily in the Pacific region.
Under these circumstances, the Group strived to manage the market exposures appropriately and reduce
operation costs and improve vessel operation efficiency.

The overall Dry Bulk Segment recorded a year-on-year increase both in revenue and profit.
(ⅱ)

Energy Resource Transport Segment

LNG Carrier, Electricity Business, Tanker Carrier and Offshore Business
Concerning LNG carriers, thermal coal carriers, large crude oil tankers (VLCCs), LPG carriers, drillship andFPSO (Floating Production, Storage and Offloading system), the business stayed firm for mid- and long-term
charter contracts and contributed to secure stable profit.
On the other hand, due to one-time factors, the overall Energy Resource Transport Segment recorded a year-onyear increase in revenue but decrease in profit.
(ⅲ)

Product Logistics Segment

Car Carrier BusinessIn the global car sales market, overall recovery continued as the supply shortages of semiconductors and autoparts were generally resolved. The Group continued efforts to restore freight rates and improve operational
efficiency.

Logistics BusinessIn the domestic logistics and port business, the domestic container handling volume remained almost flat yearon-year. In the towage business and warehouse business, work volume stayed firm. As for the international logistics
business, air cargo transportation demand in forwarding business, including demand relating to semiconductors,
was on a gradual recovery trend. In the finished car transportation business, the port congestion in Australiacontinued, but demand was still high and both land transportation volume and storage volume increased.
Short Sea and Coastal BusinessIn the short sea business, while the transportation volume in steel products increased year-on-year, thetransportation volume of bulk cargoes declined due to anticipated market fluctuations. As a result, the totaltransportation volume remained almost flat year-on-year. In the coastal business, despite the impact of sluggish
consumption due to the high price level, the cargo movement of construction materials increased, and thetransportation volume increased year-on-year. The transportation volume of dedicated vessels for tramp services
increased year-on-year due to stable operations.
Containership BusinessIn the container ship business, container – freight movement showed a recovery trend due to the strong personal
consumption in North America and Europe with the mitigate inflation. On the other hand, due to the prolonged useof detouring route via the Cape of Good Hope caused by the Middle East unstable situation, the vessel supply anddemand was tightened with the shortage of containers in some specific regions. As a result, short-term freight rates
have increased not only in North America and Europe routes but also in other routes, resulting in a year-on-yearincrease both in revenue and profit.

The overall Product Logistics Segment recorded a year-on-year increase both in revenue and profit.
- 6 -

(ⅳ )

Other

Other includes but not limited to the Group’s ship management service, travel agency service, and real estate andadministration service. The segment recorded a year-on-year decrease both in revenue and profit.
(2) Description of Financial Position
Total assets at the end of the consolidated first Quarter of this fiscal year were ¥2,145.9 billion, an increase of¥36.5 billion from the end of the previous fiscal year as a result of an increase in investment securities and otherfactors.
Total liabilities decreased by ¥4.1 billion to ¥480.6 billion as a result of a decrease in Short-term loans andcurrent portion of long-term loans and other factors compared to the end of the previous fiscal year.
Total net assets were ¥1,665.2 billion, an increase of ¥40.6 billion compared to the end of the previous fiscal year
as a result of an increase in foreign currency translation adjustments and other factors.
(3) Description of Information on Future Outlook, Including Forecast of Consolidated Financial Results(Billion yen)
Current Forecast *(at the time of announcement of
the 1st Quarter result)

Prior Forecast(at the time of announcement
made on May 7, 2024)

Change% Change

Operating revenues

980.0

1,020.0

40.0

4.1%

Operating income (loss)

93.0

102.0

9.0

9.7%

Ordinary income (loss)

135.0

220.0

85.0

63.0%

120.0

210.0

90.0

75.0%

Exchange Rate (¥/US$)

140.95147.18

6.23

4.4%

Fuel Oil Price (US$/MT)

640

637

(3)

(0.5%)

Profit (loss) attributable toowners of the parent* As for the Current Forecast, there is no change from the forecast that announced in the news release on July 25,
2024, titled “Notice on Revision to Consolidated Financial Forecasts for the Fiscal Year ending March 2025”.
In the Dry Bulk Segment, despite some factors of concern, such as uncertainty about the future of the Chinese
economy, and the continued geopolitical risks in the Middle East, the mid-term vessel supply-demand balance will
be tight against the backdrop of limited building of new ships, and market rates are expected to stay firm overallwith some fluctuations. The Group will keep watching changes in transportation demand and trade patterns andpromptly respond. At the same time, amid growing need to deal with environmental problems, taking advantage ofits business foundation and high-quality transportation, the Group will strive to maximize profit by increasing

vessel operation efficiency and reducing costs as well as increasing mid- and long-term contracts while maintaining
appropriate risk control.
In the Energy Resource Transport Segment, the Group will continue efforts to secure stable profit as it expects toensure smooth business operations, supported by mid- and long-term contracts, with respect to LNG carriers,
thermal coal carriers, large crude oil tankers, LPG carriers, drillship and FPSO.

As for the Product Logistics Segment, in the car carrier business, despite concern in the global auto market about
the global economic recession risk and geopolitical risks, production and shipment are expected to stay firm. The
Group will continue to strive to optimize our fleet and improve the efficiency of vessel operation and allocation.
In the logistics business, regarding the domestic logistics and port business, the current trends in the container- 7 -handling volume are expected to continue, and the cargo volume for this fiscal year is expected to be at the samelevel as the last fiscal year. In the towage business and the warehouse business, the Group expects the same level ofprofits as the last fiscal year. As for the international logistics business, in the forwarding business, the Group
expects that demand for ocean and air transportation and freight rates will recover slowly and anticipates market
fluctuations due to the situation in the Middle East. In the finished car transportation business operated overseas,
both land transportation volume and storage volume are expected to remain firm.

In the short sea business, with the growing market rates, the Group will continue to manage the market exposuresappropriately and strive to improve the balance of payment by reducing operation costs and improving vessel
operation efficiency. In the coastal business, while car transportation and passenger transportation by ferry are
expected to remain flat year-on-year due to firm demand, the volume of truck transportation is expected to decreaseyear-on-year. As for liner transportation, the Group will aim to improve balance of payments by cargo acquisition
such as securing construction materials for which active cargo movement is expected, and by adjusting vessel

allocation. In tramp services, the Group expects smooth operation of dedicated ships.
In the container ship business, it is expected to take some time for the stable situation in the Middle East and thegeopolitical business environment has been complexed. The outlook for the supply-demand environment is
uncertain from the second quarter onwards. "ONE" will keep watching changes in the situation, continue to provide
flexible vessel allocation and efficient operations in line with demand, and strive for steady business operations.
Our basic policy is to improve shareholder profits over the medium and long terms by proactively promoting
shareholder returns, including share buyback. This is done by taking cash flow into consideration and ensuring theinvestment level and financial stability necessary to improve our corporate value while being conscious of optimal
capital structure and cash allocation.

Based on this basic policy, regarding dividend for the current consolidated fiscal year ending March 31, 2025, theCompany plans for basic dividend of 40.00 yen and additional dividend of 45.00 yen per share, in total of annual
dividend 85.00 yen per share (an interim dividend of 42.50 yen per share and a year-end dividend of 42.50 yen per
share), as we announced on May 7, 2024.

- 8 -6. Consolidated Financial Statements(All financial information has been prepared in accordance with accounting principles generally accepted in Japan)

Consolidated Balance Sheet(Millions of yen)
As ofMarch 31, 2024

As ofJune 30, 2024

ASSETS
Current assets :Cash and deposits
Accounts and notes receivable - trade and contract assets
Raw materials and supplies
Deferred and prepaid expenses
Other current assets
Allowance for doubtful accounts
Total current assets

272,616
129,632
42,51325,62919,297(1,411)
488,278

214,954
132,052
41,901
25,31927,091(1,415)439,904

Non-current assets :(Vessels, property and equipment)
Vessels, net
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total vessels, property and equipment

324,106
9,600
3,245
15,54851,364
6,452
410,318

334,875
9,739
3,362
15,57359,7096,804
430,065

6,036
6,036

6,145
6,145

(Investments and other assets)
Investment securities
Long-term loans receivable
Asset for retirement benefits
Other investments and other assets
Allowance for doubtful accounts
Total investments and other assets

1,139,971
20,4792,387
43,684(1,723)
1,204,799

1,202,298
21,6972,454
45,164(1,792)
1,269,821

Total non-current assets

1,621,154

1,706,033

2,109,432

2,145,937(Intangible assets)
Other intangible assets
Total intangible assets

Total assets- 9 -Consolidated Balance Sheet(Millions of yen)
As ofMarch 31, 2024

As ofJune 30, 2024

LIABILITIESCurrent liabilities :Accounts and notes payable - trade
Short-term loans and current portion of long-term loans
Accrued income taxes
Provision for loss related to the Anti-Monopoly Act
Provision for loss on chartering contracts
Other provisions
Other current liabilities
Total current liabilities

77,59649,135
3,399
3,821
5,442
3,811
66,701
209,908

73,00544,219
4,575
3,821
4,085
1,997
61,863
193,568

8,000
206,107

8,000
215,147

38

35

2,300
16,542
4,855
37,079274,924484,832

1,823
19,303
4,960
37,846287,115
480,683

75,457
29,102
1,178,723(7,648)1,275,636

75,457
29,103
1,215,586(79,473)
1,240,673

Accumulated other comprehensive income :Net unrealized holding gain (loss) on investment securities
Deferred gain (loss) on hedges
Revaluation reserve for land
Foreign currency translation adjustments
Retirement benefits liability adjustments
Total accumulated other comprehensive income

13,0303,076
4,677
294,822681
316,289

13,368
3,909
4,676
368,597770
391,322

Non-controlling interests

32,67433,258

Total net assets

1,624,600

1,665,254

Total liabilities and net assets

2,109,432

2,145,937

Non-current liabilities :Bonds
Long-term loans, less current portion
Provision for directors’ and audit and supervisory board
members’ retirement benefits
Provision for directors’ stock benefits
Provision for periodic dry docking of vessels
Liability for retirement benefits
Other non-current liabilities
Total non-current liabilities
Total liabilities
NET ASSETS
Shareholders’ equity:
Common stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity- 10 -

Consolidated Statement of Operations(Millions of yen)Three months
ended
June 30, 2023

Three months
ended
June 30, 2024

Marine transportation and other operating revenues

220,711

267,609

Marine transportation and other operating costs and expenses
Gross profit (loss)
Selling, general and administrative expenses
Operating income (loss)
Non-operating income :Interest income
Dividend income
Equity in earnings of unconsolidated subsidiaries and affiliates
Foreign exchange gains
Other non-operating income
Total non-operating income
Non-operating expenses :Interest expenses
Other non-operating expenses
Total non-operating expenses
Ordinary income (loss)
Extraordinary income :Gain on sales of non-current assets
Other extraordinary income
Total extraordinary income
Extraordinary losses :Loss on retirement of non-current assets
Loss on liquidation of subsidiaries and affiliates
Other extraordinary losses
Total extraordinary losses
Profit (loss) before income taxes
Income taxes :Current
Deferred
Total income taxes
Profit (loss)
Profit (loss) attributable to non-controlling interests
Profit (loss) attributable to owners of the parent

183,944
36,767
17,357
19,409218,005
49,603
18,88630,717792
728
22,6885,455
857
30,523

1,086
813
37,2876,753
601
46,542

2,440
289
2,730
47,202

1,697
714
2,412
74,846

1,566
666
2,232

2,226
16
2,242

12
24
4
41
49,3930－－077,0883,153
8,944
12,09737,295412
36,882

3,600
606
4,206
72,881
338
72,543- 11 -

Consolidated Statement of Comprehensive Income(Millions of yen)Three months
ended
June 30, 2023
Profit (loss)

Three months
ended
June 30, 2024

37,29572,881

2,810(739)
10,037
178

438
(14)
7,279
76

Other Comprehensive income :Net unrealized holding gain (loss) on investment securities
Deferred gain (loss) on hedges
Foreign currency translation adjustments
Retirement benefits liability adjustments
Share of other comprehensive income (loss) of unconsolidated subsidiaries
and affiliates accounted for using equity method
Total other comprehensive income
Comprehensive income

80,602

67,612

92,889130,184

75,393
148,274(Breakdown)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

129,314869

147,577697- 12 -

7. Explanatory Notes to Consolidated Financial Statements(Notes Regarding Going Concern Assumption)
Not Applicable.

(Notes on Significant Changes in Amount of Shareholders’ Equity)
In the current cumulative first quarter, treasury stock increased by ¥71,873 million following the Company’s
repurchase of 31,870,200 shares of common stock in accordance with a resolution of the Board of Directors at its
meeting held on May 7, 2024.
(Change in Accounting Standards)(Application of the Accounting Standard for Current Income Taxes)
Accounting Standard for Current Income Taxes (ASBJ Statement No.27, October 28, 2022; hereinafter referred
to as the “Revised Accounting Standard 2022”), etc. have been adopted from the beginning of the first quarter
ended June 30, 2024.
The amendment to categories in which current income taxes should be recorded (taxes on other comprehensive
income) follows the transitional treatment prescribed in the proviso of paragraph 20-3 of the Revised AccountingStandard 2022 and the transitional treatment prescribed in the proviso (2) of paragraph 65-2 of the Implementation
Guidance on Tax Effect Accounting (ASBJ Guidance No. 28, October 28, 2022; hereinafter referred to as the“Revised Implementation Guidance 2022”). This change in accounting standards has no impact on the quarterly
consolidated financial statements.
For the amendment related to the revised accounting treatment for consolidated financial statements when gains
or losses on sale of shares in subsidiaries resulting from transactions between consolidated companies were deferred
for the tax purposes, the Revised Implementation Guidance 2022 has been adopted from the beginning of the firstquarter ended June 30, 2024. This change in accounting standards was applied retrospectively. Hence, the quarterly
consolidated financial statements for the same quarter of the prior fiscal year and the consolidated financial
statements for the prior fiscal year have been modified retrospectively. This change in accounting standards has no
impact on the quarterly consolidated financial statements for the same quarter of the prior fiscal year and theconsolidated financial statements for the prior fiscal year.
(Changes of currency conversion method into Japanese yen in income and expenses of foreign consolidated
subsidiaries)
Income and expenses of foreign affiliate companies had used to be converted into Japanese yen by using spot
rate on the financial closing date. Considering the increased importance of foreign consolidated subsidiaries, andthese days aggressive movement of currency exchange rate, the method of using the average conversion rate ofduring the term may reflect the business results of foreign subsidiaries to the consolidated financial statements
much clearer than using the spot rate on the financial closing date, therefore we have changed the conversion rate toaverage rate of during the term from the beginning of the first quarter ended June 30, 2024.
Regarding figures on the previous corresponding period and the previous financial year end, we use the newchanged conversion method.
By this currency conversion method change, operating revenues of the previous corresponding period isdecreased by ¥1,493 million, operating income (loss) is decreased by ¥227 million, ordinary income (loss) isdecreased by ¥1,915 million, and profit (loss) before income taxes is decreased by ¥1,724 million comparing to thefigures by using the previous method. Moreover, accumulated affecting amount reflects the outstanding balance of
net assets as of April 1, 2023 and therefore outstanding balance of retained earnings as of April 1, 2023 is decreasedby ¥51,763 million and outstanding balance of foreign currency translation adjustments is increased by the sameamount.

- 13 -

(Notes on the quarterly Consolidated Statement of Cash Flows)
The Company does not prepare Consolidated Statement of Cash Flows for the three months ended June 30,2024. The total amount of Depreciation and Amortization which includes Depreciation and Amortization of
Intangible assets is as follows.
(Millions of yen)
FY2023 1st quarter
FY2024 1st quarter(from April 1, 2023
(from April 1, 2024
to June 30, 2023)
to June 30, 2024)
Depreciation and Amortization
10,664
11,771

Segment information

Three months ended June 30, 2023
(Millions of yen)
Dry bulk

Energyresourcetransport

Revenues
Revenues from contracts with customers
Other revenues

71,438611

22,538640

121,358
1,243

Operating revenues from customers

72,04923,178Inter-group revenues and transfers

125Total revenues

72,062

Segment profit (loss)

Product
logistics

Other

Total

Adjustments
andConsolidated
eliminations

2,850
29

218,186
2,525-

218,186
2,525

122,602

2,880

1,617

14,974

220,711-

220,711

16,610(16,610)

23,184

124,219-

17,855

237,321(16,610)

220,711

1,480

2,189

44,390791

48,852(1,650)47,202

Dry bulk

Energyresourcetransport

Revenues from contracts with customers

86,16824,720150,4292,423

263,741-

Other revenues

2,142

977

717

30

3,867

-

3,867

Operating revenues from customers

88,311

25,697

151,1462,453

267,609-267,609

Three months ended June 30, 2024
(Millions of yen)
Product
logistics

Other

Total

Adjustments
Consolidated
andeliminations

Revenues

Inter-group revenues and transfers

263,741

19

3

1,150

17,081

18,254(18,254)-

Total revenues

88,33025,701

152,297

19,535285,864(18,254)

267,609

Segment profit (loss)

7,601

1,215

66,411491

75,720(873)

74,846The Company has changed the currency conversion method into Japanese yen in income and expenses of foreign
consolidated subsidiaries from using spot rate on the financial closing date to average rate of during the term fromthe beginning of the first quarter ended June 30, 2024. Due to this change, Segment information in the first quarterof fiscal year 2023 is presented based on the changed policy.

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(Significant Subsequent Event)(Cancellation of Treasury Stock)
At the meeting of the Board of Directors held on July 26, 2024, the Company resolved to cancel a portion of theCompany’s treasury stock pursuant to Article 178 of the Companies Act of Japan.

1. Type of shares to be cancelled
2. Total number of shares to be cancelled

Common stock of the Company
39,556,000 shares(5.53% of total number of shares outstanding before the cancellation)
3. Scheduled date of cancellation
August 7, 2024
4. Total number of shares outstanding after the cancellation 675,172,067 shares
Total number of shares acquired in accordance with the resolution of the Board of Directors meeting held on
May 7, 2024 was 39,556,000 shares.

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