Mitsubishi Logistics Corporation Summary of Quarterly Report as of and for the nine months ended December 31, 2006 (Consolidated basis) 1. Basis of Quarterly report

January 31, 2007
(1) There has been adoption of the simplified accounting method.
Income taxes are calculated using the simplified accounting method in some consolidated subsidiaries.
(2) There has been no change in accounting method of the latest fiscal year.
(3) There have been changes in the number of consolidated subsidiaries and companies accounted for by the equity method.
Consolidated subsidiaries: (Newly included) 4
Companies accounted for by the equity method: (Excluded) 1

2. Financial Highlights

(1) Results of operation

(Round down to millions of Yen)

Nine months ended

December 31, 2006

Nine months ended

December 31, 2005

Percentage

Change

Year ended

March 31, 2006


Revenue ¥128,189 ¥122,900 4.3% ¥166,538
Operating Income 8,684 7,758 11.9% 11,077
Ordinary Income 9,772 8,665 12.8% 11,948

Net Income 8,734 5,976 46.1% 7,737 (In Yen)
(Notes)
a) Average numbers of shares outstanding during the nine months ended December 31, 2006, 2005 and during the year ended March 31, 2006 on a consolidated basis are as follows:
Nine months ended December 31, 2006: 175,458,263 shares Nine months ended December 31, 2005: 167,859,438 shares Year ended March 31, 2006: 167,938,004 shares
b) Presentation of percentages in the above list shows increase ratio in comparison with the previous period.
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(2) Financial conditions

(Round down to millions of Yen)

December 31, 2006 December 31, 2005 March 31, 2006

Total Assets ¥370,723 ¥375,085 ¥379,094
Net Assets 207,680 183,225 205,001

(As a Percentage)
Equity Ratio 55.8% 48.8% 54.1%
(In Yen)

Net Assets per Share ¥1,178.57 ¥1,091.73 ¥1,168.10
(Note)
Numbers of shares outstanding at December 31, 2006, 2005 and at March 31, 2006 on a consolidated basis are as follows:
As of December 31, 2006: 175,443,583 shares
As of December 31, 2005: 167,829,590 shares
As of March 31, 2006: 175,474,534 shares
(3) Conditions of cash flows

(Round down to millions of Yen)
Cash Flows from Operating

Nine months ended

December 31, 2006

Nine months ended

December 31, 2005

Year ended

March 31, 2006

Activities ¥4,851 ¥6,505 ¥11,074
Cash Flows from Investing
Activities (11,645) (8,176) (11,905) Cash Flows from Financing
Activities 11,591 8,101 (12,659)
Cash and Cash Equivalents
at end of the period 23,457 38,276 18,360
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3. Business forecast for the year ending March 31, 2007 on a consolidated basis


(In millions of Yen) Year ending March 31, 2007

Revenue ¥187,500
Operating Income 14,500
Ordinary Income 15,400
Net Income 13,300 (Note)
Estimated Net Income per Share for the year ending March 31, 2007 is ¥75.81.
Actual results could differ from the above forecast because the forecast is made based on judgments using the information available as of the date of release and subject to risks and uncertainties.
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