NYK Revises Results As Line Business Exceeds Expectations

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

1. Financial forecasts
(1) Revisions to consolidated forecasts up to the second quarter of the fiscal year ending in March 2022

(2) Revisions to the annual consolidated forecasts for the year ending March 2022

Assumptions for forecasts

• Exchange rate
• (Cumulative until the second trimester) 107.40 / US $ (Full year) 106.20 / US $
• Bunker oil price
• (Cumulative until the second quarter) US $ 470.46 / MT (Full year) US $ 474.73 / MT (Note 1)

Reason for revision:

Following the continued surge in transport demand, the results of the subsidiary OCEAN NETWORK EXPRESS PTE. LTD. in line business exceed expectations. In addition, the balance between supply and demand remains tight in the logistics sector, which translates into an improvement in the bottom line. In addition, in the bulk transport segment, good market conditions for bulk carriers are expected to improve the bottom line. As a result of these factors, the financial forecast has been revised upwards. (Note 1) The price of bunker oil is on average for all major grades of fuel including VLSFO

2. Revision of dividend forecasts for the year ending March 2022

Reason for revision:

Based on the consolidated financial forecast for the year ended March 2022 announced today and after a thorough review of our financial position and the return of earnings to shareholders, the expected dividend per share has been revised as indicated above. (Note 2) Forecast announced on May 10, 2021
Source: NYK Line