Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
July 31, 2023
FINANCIAL HIGHLIGHTS for the 1st quarter of the Fiscal Year Ending March 2024 (Under Japanese GAAP)
Company name: | NS UNITED KAIUN KAISHA, LTD. | |
Listing: | Tokyo Stock Exchange (TSE) Prime Market | |
Securities code: | 9110 | URL: https://www.nsuship.co.jp |
Representative: | Kazuma Yamanaka, President and Representative Director | |
Inquiries: | Katsutoshi Kobayashi, Group Leader, Finance and Accounting Group Phone: 81-3-6895-6407 |
Schedule date to submit the financial statement report: | August 7, 2023 |
Scheduled date to commence dividend payments: | - |
Preparation of supplementary material on financial results: | Yes |
Financial Results Presentation Held: | No |
(Amounts are rounded to the nearest million yen.) |
1. Consolidated Operating Performance for the 1st quarter of the Fiscal Year Ending March 2024
(from April 1, 2023 to June 30, 2023)
(1) Consolidated Operating Results (Cumulative)
(Million yen) (Percentages indicate year-on-year changes.)
Revenues | Operating Income | Ordinary Income | Profit Attributable to | |||||||||||||
Owners of Parent | ||||||||||||||||
For the 1st quarter of the fiscal | 55,404 | (11.1)% | 5,831 | (47.9)% | 7,856 | (40.1)% | 6,234 | (40.6)% | ||||||||
year ending March 2024 | ||||||||||||||||
For the 1st quarter of the fiscal | 62,312 | 45.6% | 11,195 | 138.7% | 13,116 | 217.8% | 10,498 | 195.7% | ||||||||
year ended March 2023 | ||||||||||||||||
(Reference) | Comprehensive Income | |||||||||||||||
For the 1st quarter of the fiscal year ending March, 2024: 6,155 million yen | (40.4) % | |||||||||||||||
For the 1st quarter of the fiscal year ended March, 2023: 10,328 million yen | 181.9% | |||||||||||||||
(Yen) | ||||||||||||||||
Net Income per Share | Diluted Net Income per Share | |||||||||||||||
For the 1st quarter of the fiscal | 264.55 | - | ||||||||||||||
year ending March 2024 | ||||||||||||||||
For the 1st quarter of the fiscal | 445.45 | - | ||||||||||||||
year ended March 2023 | ||||||||||||||||
(2) Consolidated Financial Position | (Million yen) | |||||||||||||||
Total Assets | Net Assets | Equity Ratio | ||||||||||||||
For the 1st quarter of the fiscal | 276,830 | 138,965 | 50.2% | |||||||||||||
year ending March 2024 | ||||||||||||||||
For the fiscal | year ended March | 275,784 | 137,405 | 49.8% | ||||||||||||
2023 | ||||||||||||||||
(Reference) | Equity Capital | |||||||||||||||
For the 1st quarter of the fiscal year ending March 2024 | : 138,965 million yen | |||||||||||||||
For the fiscal year ended March 2023: 137,405 million yen |
2. Cash Dividends
(Yen) | ||||||||
Annual Dividends per Share | ||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | Year-end | For Full Year | ||||
For the fiscal year ended | - | 170.00 | - | 195.00 | 365.00 | |||
March, 2023 | ||||||||
For the fiscal year ending | - | |||||||
March, 2024 | ||||||||
For the Fiscal year ending | 80.00 | - | 80.00 | 160.00 | ||||
March, 2024 (Forecast) | ||||||||
(Note) | Revision to quarterly | dividend distribution forecast : Yes |
3. Forecast of Consolidated Operating Performance for Fiscal Year Ending March 2024 (from April 1, 2023 to March 31, 2024)
(Million yen) | |||||||||||
(Percentages indicate year-on-year changes.) | |||||||||||
Revenues | Operating Income | Ordinary Income | Profit Attributable | Net Income per | |||||||
to Owners of Parent | Share | ||||||||||
For six months | 104,700 | (20.0)% | 9,900 | (52.1)% | 10,200 | (57.7)% | 8,200 | (57.8)% | 347.96 | ||
(cumulative) | |||||||||||
For full year | 194,100 | (22.6)% | 15,600 | (52.0)% | 14,600 | (56.3)% | 12,300 | (55.4)% | 521.94 | ||
(Note) | Revision | to quarterly operating performance forecast: Yes |
Notes:
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in
change in scope of consolidation): | None | |
(2) | Particular accounting methods used for preparation of quarterly consolidated financial statements: | None |
- Changes in accounting policies, changes in accounting estimates, and restatement
i. Changes in accounting policies due to revisions to accounting standards and other regulations: None
ii. | Changes in accounting policies due to other reasons: | None |
iii. | Changes in accounting estimates: | None |
iv. | Restatement: | None |
- Number of issued shares (common shares)
i. Total number of issued shares at the end of the period (including treasury shares)
For the 1st quarter of the fiscal year ending March 2024: | 23,970,679 shares | |
For the fiscal year ended March 2023: | 23,970,679 shares | |
ii. | Number of treasury shares at the end of the period | |
For the 1st quarter of the fiscal year ending March 2024: | 404,693 shares | |
For the fiscal year ended March 2023: | 404,688 shares | |
iii. | Average number of shares outstanding during the period (cumulative for the quarter) | |
For the 1st quarter of the fiscal year ending March 2024: | 23,565,990 shares | |
For the 1st quarter of the fiscal year ended March 2023: | 23,566,294 shares |
- This document of financial highlights are outside the scope of audit by certified public accountants or an audit corporation.
-
Proper use of financial results forecast and other special matters
The forward-looking statements including the financial results forecast contained herein are based on information currently available to the Company, as well as certain assumptions deemed reasonable by the Company. As such, the Company does not intend to guarantee the achievement of the forecast. In addition, actual results may differ significantly from the forecast due to various factors. For preconditions for the financial results forecast and precautions when using the financial results forecast,
please see "1. Qualitative Information on Quarterly Results (3) Explanation of Consolidated Earnings Forecast and Future Outlook" on page 3 of the attachments. Please also refer to the "Revision of Operating Performance Forecasts and Dividend Distribution Forecast" separately disclosed on July 31.
(Supplementary material on financial results)
Supplementary material for quarterly financial results will be posted on the Company's website on Monday, July 31, 2023.
Table of Contents - Attachments | ||
1. Qualitative Information on Quarterly Results | 2 | |
(1) | Explanation of Operating Results | 2 |
(2) | Explanation about Financial Position | 3 |
(3) | Explanation of Consolidated Earnings Forecast and Future Outlook | 3 |
2. Consolidated Financial Statements and Principal Notes | 5 | |
(1) | Consolidated Balance Sheet | 5 |
(2) | Consolidated Statement of Income and Consolidated Statement of Comprehensive Income | 7 |
Consolidated Statements of Income (Consolidated Three months ended) | 7 | |
Consolidated Comprehensive Income (Consolidated Three months ended) | 7 | |
(3) Notes to Quarterly Consolidated Financial Statements | 8 | |
(Going Concern Assumption) | 9 | |
(Notes in the Event of Significant Changes in Shareholders' Capital) | 9 | |
(Segment Information) | 9 |
- 1 -
1.Information on Quarterly Results
- Explanation of Operating Results
Previous consolidated | Consolidated | |||
Three months ended | Three months ended | Amount Change | ||
(from April 1, 2022 | (from April 1, 2023 | (Percentage change) | ||
to June 30, 2022) | to June 30, 2023) | |||
Revenues | 62,312 | 55,404 | (6,909) | (11.1)% |
Operating Income | 11,195 | 5,831 | (5,365) | (47.9)% |
Ordinary Income | 13,116 | 7,856 | (5,260) | (40.1)% |
Profit Attributable to | 10,498 | 6,234 | (4,263) | (40.6)% |
Owners of Parent | ||||
Exchange rate | ||||
(¥/US$) | 125.33 | 135.33 | 10.00 | 8.0 % |
(3 month average) | ||||
Bunker price* | ||||
(US$/MT) | 663 | 538 | (126) | (19.0)% |
(3 month average) |
*Average price for all the major fuel grades including Very Low Sulfur Fuel Oil
For the three-month period from April 1, 2023 to June 30, 2023, net sales were 55,404 million yen (down 6,909 million yen year-on-year), operating income was 5,831 million yen (down 5,365 million yen year-on-year), ordinary income was 7,856 million yen (down 5,260 million yen year-on-year) Net income attributable to owners of the parent was 6,234 million yen (down 4,263 million yen year-on-year).
In the International Shipping business during the three months ended June 30, 2023, in the dry bulk carrier, average charter rates for all vessel types were lower than in the same period of the previous year due to the slow recovery of the Chinese economy and concerns of an economic slowdown caused by monetary tightening in various countries.
The market for capesize bulk carriers (180,000 DWT type) was firm from April to early May on the back of a recovery in iron ore shipments from Brazil and Australia to China and increased cargo movements of thermal coal in preparation for electricity demand in the summer. From mid-May to June, however, the market softened against the backdrop of uncertainty over the Chinese economy, and average charter rates for the five main routes temporarily fell below $10,000.
The market recovery was limited thereafter, with the April-June average falling below the year-ago level to about $16,000. For Panamax and medium and small bulk carriers (20,000-80,000 DWT type), the market was on a downward trend from April to June due to sluggish grain and minor bulk cargo movements.
On the other hand, the market for VLGCs (Very Large Gas Carriers) remained at a high level due to steady cargo movements both out of the U.S. and the Middle East.
Under these circumstances, although the yen's depreciation, which progressed during the period, boosted earnings, both revenues and profits declined compared with the same period of the previous year.
In the coastal shipping business, with respect to dry bulk, steel-related cargo volumes of steel raw materials increased slightly year-on-year, but steel products decreased year-on-year. In cement-related cargo, although affected by unseasonable weather such as torrential rains, transport volumes were at the same level as the same period of the previous year. On the other hand, electric power-related cargo transport volumes declined year on year due to restrained operations at coal-fired thermal power plants and other factors. Transport volume for tanker was sluggish due to declining domestic demand for LPG, despite efforts to operate tankers more efficiently.
Under these circumstances, the coastal shipping business posted higher revenues and profits compared to the same period of the previous year.
- 2 -
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Disclaimer
NS United Kaiun Kaisha Ltd. published this content on 31 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 02:30:09 UTC.