April 27, 2018

To our shareholders

Corporate Name:

Representative:

Tadaaki Naito, President

Security Code:

9101

Listings:

First Section of the Tokyo and Nagoya

stock exchanges

Contact:

Toru Maruyama

General Manager, IR Group

(Tel. +81 3-3284-5151)

Nippon Yusen Kabushiki Kaisha

Notice of Disparities between Full Fiscal Year Consolidated Results and Previous Forecast

Nippon Yusen Kabushiki Kaisha (hereafter, "NYK Line") announces today that its consolidated financial results for the fiscal year ended March 31, 2018, differed markedly from its forecast for the same period, which was announced on January 31, 2018.

Disparities between Consolidated Financial Results and Previous Forecast for the Fiscal Year Ended March 31, 2018

(in millions of yen)

Revenues

Operating income

Recurring profit

Profit attributable to owners of parent

Profit per share (yen)

Previous Forecast (A) (January 31,2018)

2,172,000

30,000

27,000

11,000

65.22

Actual Results (B)

2,183,201

27,824

28,016

20,167

119.57

Change (B-A)

11,201

(2,176)

1,016

9,167

Percentage Change (%)

0.5%

-7.3%

3.8%

83.3%

(Ref.) Previous Fiscal Year Results

1,923,881

(18,078)

1,039

(265,744)

(1,572.35)

Reason for disparities:

Profit attributable to owners of parent was substantially higher than forecast due to several factors, namely recording of gain on sales of investment securities and gain on sales of fixed assets including real estate.

(Note) On October 1, 2017, NYK Line conducted a reverse stock split at a ratio of 10 ordinary shares to one ordinary share. Profit attributable to owners of parent per share has been calculated based on the scenario that the reverse stock split had been effective from the beginning of the previous fiscal year.

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Nippon Yusen KK published this content on 27 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 April 2018 03:14:09 UTC