Mitsubishi Logistics : Flash report as of and for the nine months ended December 31,2016

January 31,2017

Preparation of explanatory materials for quarterly financial results : None Information meetings arranged related to quarterly financial results : None

1. Financial highlights

2. Consolidated results of operation

   (Round down to millions of yen)

   Nine months ended December 31, 2016

   Nine months ended December 31, 2015

   Percentage Change

   Revenue	¥155,407	¥156,999	(1.0%)
   Operating Income	10,984	8,761	25.4%
   Ordinary Income	13,191	10,786	22.3%
   Profit Attributable to Owners of Parent	9,011	7,918	13.8%
   (Note)Comprehensive Income	18,470	3,623	409.7%
   (In yen)
   Basic Earmings per Share Diluted Earnings per Share	¥51.43 －	¥45.19 －

   (Note)

   Presentation of percentage change in the above list shows increase or decrease ratio in comparison with the previous corresponding period.

3. Consolidated financial conditions

   (Round down to millions of yen)

   December 31, 2016	March 31, 2016
   Total Assets Net Assets	¥430,817 273,866	¥413,264 257,524

   (As a percentage)

   Equity Ratio 63.0% 61.7%

   (Note)

   Equity at December31, 2016 and March 31, 2016 on a consolidated basis are as follows: As of December31, 2016 :¥271,330 million

   As of March 31, 2016 :¥254,940 million

4. Dividends

   Cash Dividends per Share Yearended

   March 31, 2016

   (In yen) Year ending March 31, 2017

   (Actual)

   Year ending March 31, 2017

   (Forecast)

   1stquarter 2ndquarter	¥ － 6.00	¥ － 6.00	------- -------
   3rdquarter	－	－	-------
   4thquarter	6.00	-------	¥ 8.00
   Total	¥12.00	-------	¥14.00

   (Notes)

   Modification of the cash dividend forecast previously announced : None

   The Cash Dividends per Share for the year ending March 31, 2017 include a ¥2 commemorative dividend in celebration of the 130thanniversary of the Company's establishment.

5. Business forecast for the year ending March 31, 2017 on a consolidated basis

   (In millions of yen) Year ending

   March 31, 2017

   Revenue ¥215,000 3.9%

   Operating Income 12,100 7.0%

   Ordinary Income 14,800 5.5% Profit Attributable to Owners of Parent 9,600 2.7%

   (In yen)

   Basic Earmings per Share ¥54.79

   (Notes)

   Presentation of percentage in the above list shows increase ratio in comparison with the previous corresponding period.

   Modification of the business forecast previously announced : None

   ※ Notes

6. Changes in significant subsidiaries during this period (changes in specified subsidiaries resulting in changes in scope of consolidation) : None

7. Application of special accounting treatment for preparation of quarterly consolidated financial statements :None

8. Changes in accounting policies, changes in accounting estimates and restatement due to correction

   ( i ) Changes in accounting policies with revision of accounting standards, etc. : Yes

   ( ii) Changes in accounting policies other than the above : None

9. Changes in accounting estimates : None

10. Restatement due to correction : None

11. Number of shares outstanding (common stock)

    ( i ) Number of shares outstanding at December31, 2016 and March 31, 2016 on a consolidated basis (including treasury stock) are as follows:

    As of December31, 2016 : 175,921,478 shares

    As of March 31, 2016 : 175,921,478 shares

    ( ii) Number of treasury stocks at December31, 2016 and March 31, 2016 on a consolidated basis are as follows:

    As of December31, 2016 : 724,982 shares

    As of March 31, 2016 : 712,459 shares

12. Weighted-average number of shares outstanding during the nine months ended December

13. 31, 2016 and 2015 on a consolidated basis are as follows:

    Nine months ended December31, 2016 : 175,204,285 shares

    Nine months ended December31, 2015 : 175,217,646 shares

    ※Presentation regarding implementation status of quarterly review procedures

    This Summary of Quarterly Report is not subject to quarterly review processes under the Japanese Financial Instruments and Exchange Law. At the time of this document's release, review of the quarterly financial statements under the Japanese Financial Instruments and Exchange Law has not been completed.

    ※Explanation of appropriate use of business forecast and other special items

    The above forecast is based on the information available to the Company's management as of the date of release and certain assumptions judged rational. Accordingly, there might be cases in which actual results differ from forecasts in this material.