NEWSLETTER

October 31, 2019
Notice on Differences between Consolidated Financial Forecasts and Resultsfor 1st Half of Fiscal Year ending March 2020and Dividend from Retained Earnings (No Interim Dividend)
Kawasaki Kisen Kaisha, Ltd. (“K” LINE) announces that differences arose between theconsolidated financial results for the 1st half of fiscal year ending March 2020 announced
today and the previous forecasts announced on July 31, 2019.
“K” LINE also announces that it has been decided at Board of Directors meeting today topay no interim dividend on September 30, 2019 as record date.
1. Differences from Financial Forecasts
1) Content of the Differences
Differences from Consolidated Financial Forecasts for 1st Half of FY2019 (April 1,2019 September 30, 2019)
First Half
Consolidated Consolidated Consolidated
operatingoperatingordinary
revenues
income (loss) income (loss)(million yen) (million yen) (million yen)

Profit (loss)
attributableto owners ofthe parent(million yen)

Profit (loss)
attributableto owners of
the parent
per share(yen)Forecast announced previously on July 31, 2019 (A)368,000

8,000

10,000

7,000

75.05

Results (B)372,396

11,065

13,373

16,311

174.88Change (B – A)

4,396

3,065

3,373

9,311

Change (%)

1.2%

38.3%

33.7%

133.0%

416,129(12,321)(21,329)(24,581)

Reference: Consolidated results for prior fiscal year
(fiscal year ended September 30, 2019)(263.54)

2) Reason for the Differences
The operating income and ordinary income exceeded the forecasts previously announced
mainly as a result of the robust cargo movements and the success by the realignment oftrades in the car carrier business as well as recoveries of the market rates in Energy
Resource Transport businesses especially in Tanker. In addition, the profit attributable toowners of the parent for the current fiscal period also exceeded the forecast previously
announced due to factors such as the consistent review of the business portfolio through theselection and concentration policy in the 2nd quarter, and the changes in the estimatedamount and time of accrual of extraordinary losses by the liquidation of the Company’s

KAWASAKI KISEN KAISHA, LTD.
ＩＲ・広報グループ

IR & PR GroupNEWSLETTER

containership business affiliate, which had been estimated conservatively in the previousforecasts.
2. Decision of Dividend from Retained Earnings (Interim Dividend)1) Content of the Decision

Record date
Dividend per share
Total amount of dividends
Effective date
Source of funds for dividends

Amount determined

Most recent dividend
forecast (announcedon July 31, 2019)

Actual dividend in theprevious fiscal year

September 30, 20190.00 yen―――

September 30, 2019
Undetermined―――

September 30, 2018
0.00 yen―――

2) Reason“K” LINE’s important management task is to maximize returns to our shareholders byimplementing stable dividend. However, the business environment remains critical towardachieving the consolidated full-year business forecasts, even though the consolidated
financial results in the 1st half of the current fiscal year were better than expected. TheCompany will make a concerted effort to further improve its financial results, but it is withsincere regret that the Company announces it has decided to pay no interim dividend.
The Company strives to achieve a consolidated net profit that will put the Company in theblack, with a view to resuming dividend payment. The year-end dividend remains to beundetermined. Update will be made again in due course once further judgment has been
made as to year-end dividend payment forecast after comprehensively taking into
consideration the full-year forecasts and the Company’s financial conditions.
For further information, please contact:
Goro Kitamura

Masaya Futakuchi

General Manager, Corporate Planning Group General Manager, IR & PR Group
Tel: +81-3-3595-5594

Tel: +81-3-3595-5189

Kawasaki Kisen Kaisha, Ltd. (“K” LINE)

Kawasaki Kisen Kaisha, Ltd. (“K” LINE)“K” Line’s website URL:

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

Note: The forecasts of financial results set forth in this document were calculated based on
available information at the time of announcement. Actual results may differ from the forecast
depending on various factors such as future developments in the business environment.

KAWASAKI KISEN KAISHA, LTD.
ＩＲ・広報グループ

IR & PR Group