“K” Line Expects Improved Business Performance

Kawasaki Kisen Kaisha, Ltd. (hereinafter, “the Company”) announces that differences arose between the consolidated financial forecasts for the fiscal year ending March 2023 from the previously announced forecasts on May 9, 2022.
Due to stable Drybulk and Logistics transportation demand and market trend, the Company improved business forecast from the previously announced forecasts on May 9, 2022. Further to above, our equity method affiliate company OCEAN NETWORK EXPRESS PTE. LTD., that operates containership business, expects to continue robust cargo movement and spot freight rates.

The Company revised our consolidated financial forecast for cumulative 2nd quarter of the fiscal year ending March 31, 2023 (April 1,2022 to September 30, 2022) as well as full fiscal year ending March 31, 2023 (April 1, 2022 to March 31, 2023) consolidated financial forecasts with above reason and revised estimation of Operating revenue, Operating income, Ordinary income and Profit attributable to owners of the parent accordingly.
Source: Kawasaki Kisen Kaisha, Ltd. (“K” LINE)