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, 2023

Consolidated Financial Results
for the Three Months Ended June 30, 2023
(Under Japanese GAAP) (Unaudited)
Company name:

Kawasaki Kisen Kaisha, Ltd.

Listing:

Prime Market of Tokyo Stock Exchanges

Securities code:

9107

URL:

http://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 file annual quarterly securities report:

August 7, 2023

Scheduled date to commence dividend payments:-

Preparation of supplementary material on quarter financial results:

Yes

Holding of quarterly 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, 2023 (from April 1, 2023 to June 30,2023)(Percentages indicate year-on-year changes.)(1) Consolidated operating results
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, 2023

222,205(2.8)

19,637

4.0

49,117(81.6)

38,574(85.5)

Three months ended
June 30, 2022

228,498

30.8

18,878686.6

267,397202.3

266,639

161.4

Note:

Comprehensive income for the three months ended June 30, 2023:¥

130,184

million[(62.4)%]

For the three months ended June 30, 2022:¥

346,186

million[247.7%]

Profit (loss) per share

Profit (loss) per
share-fully diluted

Yen

Yen

Three months ended
June 30, 2023

156.00-Three months ended
June 30, 2022

950.65-1

*The Company split its common share on the basis of one (1) share into three (3) shares effective October 1, 2022.
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, 2023.
(2) Consolidated financial position
Total assets

Net assets

Shareholders’equity ratio

Million yen

Million yen%

As of June 30, 2023

2,136,164

1,602,018

73.5

As of March 31, 2023

2,052,616

1,546,679

73.8

Reference:

Shareholders’equity:
As of June 30, 2023:
As of March 31, 2023:¥¥

1,570,147
1,515,399

millionmillion

2. Dividends
Annual dividends per shareFirst quarter-end

Second quarterend

Third quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Year ended
March 31, 2023-

300.00-300.00-Year ending
March 31, 2024-

100.00-100.00200.00Year ending
March 31, 2024
(Forecast)*Revision of forecast for dividends in this quarter: None
1. The Company implemented a 3-for-1 stock split of common shares on October 1, 2022.
2. The interim dividend for the fiscal year ended March 2023 which has a dividend record date of September 30,
2022, were paid based on the shares before the stock split.
3. The full-year dividend for the fiscal year ended March 2023 per share is not presented as simple comparisons
are not possible due to the implementation of the stock split, however, the full-year dividend per share based on
the shares following the stock split is 400.00 yen.

2

3. Consolidated Financial Results Forecast for the Year Ending March 31, 2024 (April 1, 2023 to March 31,2024)(Percentages indicate year-on-year changes.)
Profit (loss)
attributable toowners of the parent

Operating revenues

Operating income(loss)

Ordinary income(loss)

Million yen%

Million yen%

Million yen%

Million yen%

Yen

451,000(6.6)

43,500(17.9)

70,000(87.7)

55,000(90.3)

222.43900,000(4.5)

89,00012.9

135,000(80.5)

120,000(82.7)

485.29Cumulative second
quarter ending
September 30, 2023
Year ending
March 31, 2024

Profit (loss)
per share*Revision to Consolidated Financial Forecasts in this quarter: Yes
4. Notes(1) Changes in significant subsidiaries during the quarter period (changes in specified subsidiaries resulting in thechange in scope of consolidation): None
Newly included: None
Excluded:None(2) Changes in accounting policies, changes in accounting estimates, and restatement(ⅰ) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ⅱ) Changes in accounting policies due to other reasons: None(ⅲ) Changes in accounting estimates: None(ⅳ) Restatement: None
(3) 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, 2023

250,712,389 shares

As of March 31, 2023

250,712,389 shares(ⅱ) Number of treasury shares at the end of the period
As of June 30, 2023

3,438,353 shares

As of March 31, 2023

3,438,017 shares(ⅲ) Average number of shares outstanding during the period
Three months ended June 30, 2023

247,274,267 shares

Three months ended June 30, 2022

280,482,288 shares

3

*The Company split its common share on the basis of one (1) share into three (3) shares effective October 1, 2022.
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 thestock split was conducted at the beginning of the previous fiscal year ended March 31, 2023.
*Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
*Assumption for the forecast of consolidated financial results for the year ending March 31, 2024
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, 2022

June 30, 2023

Change% Change

Operating revenues

228.4

222.2

(6.2)

(2.8%)

Operating income (loss)

18.8

19.6

0.7

4.0%

Ordinary income (loss)

267.3

49.1

(218.2)(81.6%)

Profit (loss) attributable to owners of the parent

266.6

38.5

(228.0)(85.5%)

126.49135.81

9.32

7.4%

821

609

(212)

(25.8%)

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

The company recorded 24.4 billion yen of equity in earnings of unconsolidated subsidiaries and affiliates for the
first quarter of this fiscal year and OCEAN NETWORK EXPRESS PTE. LTD. (hereinafter referred to as "ONE")accounted for 23.0 billion yen of this amount.
Performance per segment was as follows.
(Billion yen)Three months ended

Three months ended

June 30, 2022

June 30, 2023

Change% Change

Operating revenues

84.6

72.5

(12.0)(14.2%)

Segment profit (loss)

14.5

1.5

(13.0)(89.7%)

Energy resource

Operating revenues

24.7

23.6

(1.1)

(4.6%)

transport

Segment profit (loss)

5.6

2.4

(3.1)

(56.1%)

Operating revenues

115.7

123.1

7.3

6.4%

Segment profit (loss)

248.6

45.9

(202.7)(81.5%)

Operating revenues

3.4

2.8

(0.5)

(15.2%)

Segment profit (loss)

0.1

0.7

0.6

479.8%

Segment profit (loss)

(1.6)

(1.6)

0

－

Operating revenues

228.4

222.2

(6.2)

(2.8%)

Segment profit (loss)

267.3

49.1

(218.2)(81.6%)

Dry bulk

Product logistics

Other

Adjustments andeliminations

Total

Since the beginning of this fiscal year, The Company partly changed the allocation method of corporate expenses
to present the condition of each segment in a more appropriate manner. Segment information in the first quarter ofboth fiscal year 2023 and 2022 are presented based on the changed allocation method.

5

(i)

Dry Bulk Segment

Dry Bulk BusinessIn the Cape-size sector, market rates initially recovered due to the robust transportation demand against the
backdrop of the expectations for economic recovery in China, however, market rates weakened as a result of delay
in recovery of actual demand in China, which loosened the vessel supply-demand balance along with the easing of
port congestion.
In the medium and small vessel sector, market rates were sluggish because of the decrease in the transportation ofcoal and steel products to Europe against the backdrop of the increase in inventory at the points of demand, and thedecline in transportation demand for China against the backdrop of hesitant buying due to the decline in grain futures
prices.
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 decrease 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 and FPSO
(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, partly due to reorganizations of operating ships conducted last year, the overall Energy
Resource Transport Segment recorded a year-on-year decrease both in revenue and profit.
(iii)

Product Logistics Segment

Car Carrier BusinessIn the global car sales market, recovery continued while the impact of supply shortages of semiconductors andauto parts on production and shipments gradually decreased. Meanwhile, 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 decreased year-on-year. In the
towage business and warehousing business, work volume stayed firm. As for the international logistics sector, thedowntrend in ocean and air cargo transportation demand continued, and market rates were sluggish in the forwarding
business. In the finished vehicle transportation business, the port congestion resulting from the increase in the numberof imported vehicles that failed to pass quarantine because they were carrying foreign plant seeds was serious inAustralia, but demand was still high and both land transportation volume and storage volume increased year-on-year.
6Short Sea and Coastal BusinessIn the short sea business, despite the robust demand for the transportation of steel products and biomass fuels,
Russia-Ukraine situation ceased Russian coal transportation and lead to significant decrease year-on-year on cargotransportation volume. In the coastal business, the cargo transportation volume decreased because of the decline incargo movements such as steel frames and construction materials partly due to the rise of prices.
Containership Business
The business performance of "ONE", the affiliate company accounted with the equity method, weakened as aresult of decrease in short-term freight market rates due to sluggish transportation demand, in addition to thenormalization of supply chain disruptions.
The overall Product Logistics Segment recorded a year-on-year increase in revenue but decrease in profit.
(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 in revenue but increase in profit.
(2) Description of Financial Position
Total assets at the end of the consolidated first quarter of this fiscal year were ¥2,136.1 billion, an increase of¥83.5 billion from the end of the previous fiscal year as a result of an increase in Cash and deposits and otherfactors.
Total liabilities increased by ¥28.2 billion to ¥534.1 billion as a result of an increase in Long-term loans, lesscurrent portion and other factors compared to the end of the previous fiscal year.
Total net assets were ¥1,602.0 billion, an increase of ¥55.3 billion compared to the end of the previous fiscal year
as a result of an increase in Foreign currency translation adjustments and other factors.

7(3) Description of Information on Future Outlook, Including Forecast of Consolidated Financial Results(For consolidated cumulative second quarter of the fiscal year 2023)(Billion yen)

Prior Forecast

Current Forecast(at the time of announcement(at the time of announcement ofDated May 8, 2023)

the 1st Quarter result)

Change% Change

Operating revenues

434.0

451.0

17.0

3.9%

Operating income (loss)

43.0

43.5

0.5

1.2%

Ordinary income (loss)

66.0

70.0

4.0

6.1%

62.0

55.0

(7.0)

(11.3%)

Profit (loss) per share (Yen)

250.73222.43(28.31)

Exchange Rate (¥/US$)

125.59137.07

11.48

9.1%

Fuel Oil Price (US$/MT)

656

605

(51)

(7.7%)

Profit (loss) attributable toowners of the parent(For consolidated full fiscal year 2023)(Billion yen)

Prior Forecast

Current Forecast(at the time of announcement(at the time of announcement of

Change% ChangestDated May 8, 2023)

the 1 Quarter result)Operating revenues

870.0

900.0

30.0

3.4%

Operating income (loss)

85.0

89.0

4.0

4.7%

Ordinary income (loss)

130.0

135.0

5.0

3.8%

120.0

120.0

－

－

Profit (loss) per share (Yen)485.29485.29－Exchange Rate (¥/US$)

125.29136.04

10.75

8.6%

Fuel Oil Price (US$/MT)

679

613

(66)

(9.7%)

Profit (loss) attributable toowners of the parent

Mainly due to the revision of foreign exchange rate assumptions, the Company revised estimation of Operating
revenues, Operating income (loss), Ordinary income (loss), Profit (loss) attributable to owners of the parent and Profit(loss) per share in the consolidated financial forecast for cumulative second quoter and full year of fiscal year ending
March 31, 2024, from the previously announced forecasts on May 8, 2023.
In the Dry Bulk Segment, due to economic stagnation caused by inflation and high interest rates mainly in Europe
and the United States, the prolongation of the Russia-Ukraine situation, and the tightening of the vessel supplydemand balance against the backdrop of the delay in the recovery of economic activities in China and limited buildingof new ships, the market was sagging recently but is expected to improve toward the end of the fiscal year. The Groupwill watch out for changes in transportation demand and trade patterns and prepare to promptly respond. At the sametime, amid growing need to deal with environmental problems, take advantage of its strength in high quality

8

transportation, the Group will strive to secure stable profit by increasing vessel operation efficiency and reducing
costs as well as increasing mid- and long-term contracts.
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 (VLCCs), LPG carriers, drillship and FPSO (Floating Production, Storage andOffloading systems).
As for the Product Logistics Segment, regarding the car carrier business, while geopolitical risks and risks of global
economic stagnation will remain, the year-on-year recovery trends of production and shipment are expected tocontinue along with the recovery of supply of semiconductors and auto parts as economic activities become normal.
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 container handling volume decreased
year-on-year recently but is expected to reach the same level as the previous year throughout the fiscal year. The
income and expenditure in the towage business are expected to improve. In the warehouse business, the Group
expects the same level of profits as a typical year. As for the international logistics sector, market rate trends are
uncertain in the forwarding business due to declining demand for ocean and air transportation. In the finished vehicletransportation business, both land transportation volume and storage volume are expected to remain firm because theport congestion resulting from the increase in the number of imported vehicles that failed to pass quarantine because
they were carrying foreign plant seeds at various ports in Australia has been improving gradually.
In the Short Sea and Coastal Business, as market rates are expected to stay at a low level in the short sea business,
the Group will continue to manage the market exposures appropriately and strive to improve operational efficiency
and reduce costs. In the coastal business, cargo movements are expected to be slow due to high prices. On the other
hand, car transportation and passenger transportation are expected to increase year-on-year. As operational costs,
particularly mainly personnel costs, are increasing, the Group will strive to restore freight rates while seeking
understanding from customers.
In the container ship business, the recovery of transportation demand and the resolution of excessive inventory inmajor consumer countries in the West require time, increasing uncertainty in supply and demand conditions. "ONE"will continue to closely monitor the economic environment and strive for steady business operations while
implementing flexible measures to adapt to fluctuations in supply and demand.
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. Based on this basic policy,
regarding dividend for the fiscal year ending March 31, 2024, the Company plans payment of annual dividend of
200.00 yen per share, consisting of basic dividend of 120.00 yen and additional dividend of 80.00 yen per share, as
we announced on May 8, 2023. This annual dividend of 200.00 yen per share is expected to be composed of aninterim dividend forecast of 100.00 yen per share and a year-end dividend forecast of 100.00 yen per share.
At the meeting of the Board of Directors held on August 2, 2023, the company resolved to repurchase its stock inaccordance with Article 156 of the Companies Act of Japan, as applied pursuant to paragraph 3 of Article 165 of theCompanies Act of Japan. Please refer to (Stock repurchase) on the page of (Significant Subsequent Event) for details.

9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, 2023

As ofJune 30, 2023

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

247,429
107,522102,001
38,35622,01818,639(1,074)534,894

281,764
108,894
100,001
35,953
20,601
24,943(1,207)570,951

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

319,329
9,709
3,129
15,537
18,842
5,599
372,147

335,359
9,767
3,019
15,551
29,916
5,797
399,412

3,808
3,808

4,219
4,219

(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

1,070,227
24,5681,400
47,499(1,930)1,141,765

1,092,128
22,932
1,415
47,113(2,010)1,161,579

Total non-current assets

1,517,722

1,565,212

2,052,616

2,136,164(Intangible assets)
Other intangible assets
Total intangible assets

Total assets

10Consolidated Balance Sheet(Millions of yen)
As ofMarch 31, 2023

As ofJune 30, 2023

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

62,80350,691
2,095
1,692
9,609
5,012
53,474
185,378

66,42553,504
2,682
1,692
7,220
2,114
60,341
193,982

267,313278,195

83

71

1,192
14,8106,441
30,716
320,558
505,937

1,047
15,854
6,491
38,502
340,163534,145

75,457
29,102
1,302,769(6,550)1,400,779

75,457
29,102
1,266,779(6,551)
1,364,788

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

6,482
2,100
4,682
103,353(2,000)114,619

9,247
1,449
4,682
191,793(1,814)205,359

Non-controlling interests

31,28031,870Total net assets

1,546,679

1,602,018

Total liabilities and net assets

2,052,616

2,136,164

Non-current liabilities :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

11Consolidated Statement of Operations(Millions of yen)Three months
ended
June 30, 2022

Three months
ended
June 30, 2023

Marine transportation and other operating revenues

228,498

222,205

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 valuation of shares of subsidiaries and affiliates
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

194,032
34,465
15,587
18,878

184,924
37,28017,643
19,637225
756
235,389
14,528745
251,645799
710
24,4155,452
862
32,239

2,497
629
3,127
267,397

2,468
290
2,759
49,117

1,724
134
1,858

1,591
450
2,041

3
121
－
28
153
269,103

12
－
24
4
41
51,1173,513(2,451)
1,062
268,040
1,401
266,639

3,179
8,946
12,12538,992417
38,57412

Consolidated Statement of Comprehensive Income(Millions of yen)Three months
ended
June 30, 2022
Profit (loss)

Three months
ended
June 30, 2023

268,040

38,992(269)(860)
11,109
295

2,810
(739)
9,842
178

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

67,87079,10078,146346,186

91,191130,184(Breakdown)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

344,173
2,013

129,314869

13

7. Explanatory Notes to Consolidated Financial Statements(Notes Regarding Going Concern Assumption)
Not Applicable.
(Notes on Significant Changes in Amount of Shareholders’ Equity)
Not Applicable.
(Significant Subsequent Event)(Stock repurchase)At the meeting of the Board of Directors held on August 2, 2023, the Company resolved to repurchase its stock inaccordance with Article 156 of the Companies Act of Japan, as applied pursuant to paragraph 3 of Article 165 of theCompanies Act of Japan. Details of the repurchase are as follows.
1. Purpose of stock repurchase
The company is always conscious of capital efficiency. 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 bytaking cash flow into consideration and ensuring the investment level and financial stability necessary to improve ourcorporate value. Furthermore, in five-year medium-term management plan for the fiscal year 2022 to the fiscal year
2026, we have raised the planned total return amount to shareholders from the original range of 400.0 billion to 500.0
billion yen to a minimum of 500.0 billion yen. For the fiscal year 2023, we have announced our intention to provide
additional returns of at least 50.0 billion yen, in addition to ordinary dividend and additional dividend.
Considering the scale of this additional shareholder’s return for the fiscal year 2023, the Company has determinedthat the best way to do this will be to perform a share buyback for the entire amount. The buyback will be implemented
based on these policies.
2. Details of repurchase(1) Class of share:

Common stock of the company(2) Total number of shares of common stock to be repurchased: Up to 11,676,000 shares(4.7% of the total number of shares of common stock outstanding excluding treasury stock)(3) Total amount:

Up to 60,000,000,000 yen(4) Period:

From August 3, 2023 to October 31, 2023

(5) Repurchase method: Purchase on the Tokyo Stock Exchange through off-auction own share repurchase trading(ToSTNeT-3) and Auction market
3. Others
In principle, the shares to be repurchased will be cancelled.

14

Segment information
Three months ended June 30, 2022
(Millions of yen)
Dry bulk

Energyresourcetransport

Revenues
Revenues from contracts with customers
Other revenues

83,047
1,569

23,167
1,582

114,120
1,597

3,384
30

223,718
4,779-

223,718
4,779

Operating revenues from customers
Inter-group revenues and transfers

84,616
4

24,7493

115,717
1,281

3,414
15,042

228,498
16,331(16,331)

228,498-

Total revenues

84,621

24,752

116,998

18,456244,829(16,331)

228,498

Segment profit (loss)

14,536

5,663

248,686

136

269,023(1,626)

267,397

Product
logistics

Other

Total

Adjustments
andConsolidated
eliminations

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

Energyresourcetransport

Revenues
Revenues from contracts with customers
Other revenues

71,943633

22,934684

121,870
1,243

2,864
29

219,6132,591-

219,613
2,591

Operating revenues from customers
Inter-group revenues and transfers

72,577
13

23,618
5

123,114
1,630

2,894
15,376222,205
17,026(17,026)

222,205-

Total revenues

72,59023,623

124,745

18,271

239,231(17,026)

222,205

Segment profit (loss)

1,500

2,488

45,958791

50,738(1,620)49,117

Product
logistics

Other

Total

Adjustments
andConsolidated
eliminations

Since the beginning of this fiscal year, The Company partly changed the allocation method of corporate expenses
to present the condition of each segment in a more appropriate manner. Segment information in the first quarter ofboth fiscal year 2023 and 2022 are presented based on the changed allocation method.

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