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NYK Revises Results, as Liner Business is Exceeding Expectations

Yusen Kabushiki Kaisha decided to revise the second quarter (cumulative) and full year consolidated financial forecasts for the fiscal year ending March 2022 announced on July 1, 2021. Also, it was decided to revise the interim and year-end dividend forecast for the fiscal year ending March 2022 announced on May 10, 2021.

1. Financial Forecasts
(1) Revisions to the consolidated forecast through the second quarter of the fiscal year ending March 2022

(2) Revisions to the full year consolidated forecast for the fiscal year ending March 2022

※Assumptions for the forecasts

• Foreign exchange rate
• (Cumulative through second quarter) ¥107.40/US$ (Full year) ¥106.20/US$
• Bunker oil price
• (Cumulative through second quarter) US$470.46/MT (Full year) US$474.73/MT (Note 1)

Reason for the revision:

Following the continued soaring transportation demand, the results at the equity method affiliate OCEAN NETWORK EXPRESS PTE. LTD. in the liner business are exceeding expectations. In addition, the supply and demand balance continues to be tight in the logistics business, resulting in improvement to the bottom line. Also, in the Bulk Shipping segment, the strong market conditions for dry bulk carriers are expected to improve the bottom line. As a result of these factors, the financial forecasts were revised up. (Note 1) Bunker oil price is on average basis for all major fuel grades including VLSFO

2. Revision to the Dividend Forecast for the Fiscal Year Ending March 2022

Reason for the revision:

Based on the full year consolidated financial forecast for the fiscal year ending March 2022 announced today and after comprehensively considering our financial condition and the return of profits to shareholders, the forecast dividend per share has been revised as indicated above. (Note 2) Forecast announced on May 10, 2021
Source: NYK Line

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