Kawasaki Kisen Kaisha, Ltd. · TSE:9107

Kawasaki Kisen Kaisha — Q3 FY2012 Earnings Presentation

34 slides from Kawasaki Kisen Kaisha's earnings presentation, January 2013

  1. Slide 1: Supplementary Report - 3rd Quarter FY2012

    Supplementary Report - 3rd Quarter FY2012 - January 2013 Kawasaki Kisen Kaisha, Ltd.

  2. Slide 2: Shipping Markets, Financial Data, Historical Data

    1. Shipping Markets 2. Financial Data 3. Historical Data - For 5 Years -

  3. Slide 3: Supplementary Information 1 - Shipping Markets

    Supplementary Information -1 - Shipping Markets-

  4. Slide 4: 1-1. K Line Container Loading Volume

    1-1. “K” Line Container Loading Volume Loading Volume 11F1Q 11F2Q 11F1H 11F3Q 11F1-3Q 11F4Q 12F1Q 12F2Q 12F1H 12F3Q 12F1-3Q (Unit:1,000TEU) Asia/N.America E/Bound 163 170 333 156 488 143 184 212 395 199 594 W/Bound 88 92 180 96 276 98 106 118 224 114 339 251 262 513 251 764 241 290 330 620 313 933 A

  5. Slide 5: 1-2. Line/Alliance wise Vessel/Capacity Comparison

    1-2. Line/Alliance wise Vessel/Capacity Comparison Top 30 Container Carriers ranked by operating capacity as of January 2013 TOTAL Rank Operator TEU 1 APM-Maersk 2,578,262 2 Mediterranean Shg Co 2,225,691 3 CMA CGM Group 1,394,724 4 Evergreen Line 723,362 5 COSCO Container L. 716,868 APM-Maersk 6 Ha

  6. Slide 6: 1-3. K Line Container Volume & Share (Asia to North America)

    1-3. “K” Line Container Volume & Share (Asia to North America ’02-’12) TPS EB KL Results (Calendar Year) 500,000 7.0% 450,000 6.0% 400,000 350,000 5.0% 300,000 4.0% Share TEU 250,000 3.0% 200,000 150,000 2.0% 100,000 1.0% 50,000 0 0.0% 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007

  7. Slide 7: 1-4. K Line Container Volume & Share (North America to Asia)

    1-4. “K” Line Container Volume & Share (North America to Asia ’02-’12 ) TPS WB KL Results (Calendar Year) 250,000 7.0% 6.0% 200,000 5.0% 150,000 4.0% Share TEU 3.0% 100,000 2.0% 50,000 1.0% 0 0.0% 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 201

  8. Slide 8: 1-5. K Line Container Volume & Share (Asia to Europe)

    1-5. “K” Line Container Volume & Share (Asia (ex.India) to Europe ’02-’12, ) AES WB KL Results (Calendar Year) 350,000 6.0% 300,000 5.0% 250,000 4.0% 200,000 Share TEU 3.0% 150,000 2.0% 100,000 1.0% 50,000 0 0.0% 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 20

  9. Slide 9: 1-6. K Line Container Volume & Share (Europe to Asia)

    1-6. “K” Line Container Volume & Share (Europe to Asia (ex.India) ’02-’12 ) AES EB KL Results (Calendar Year) 200,000 6.0% 180,000 5.0% 160,000 140,000 4.0% 120,000 Share TEU 100,000 3.0% 80,000 2.0% 60,000 40,000 1.0% 20,000 0 0.0% 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 20

  10. Slide 10: 1-7. Trend of Average Container Freight/Volume

    1-7. Trend of Average Container Freight/Volume (“K” Line All Trades) （2004F-2012F3Q） Average Freight($) Volume (1,000TEU) 1000 1,600 1,403 1,337 1,440 1,349 1,323 900 1,299 859 1,315 1,315 865 1,283 871 1,242 1,400 1,220 825 1,301 1,283 1,249 846 1,250 804 810 1,235 833 793 768 811 808 763 751 789 1

  11. Slide 11: 1-8. Dry Bulk Market

    1-8. Dry Bulk Market ドライバルクマーケット(BDI) Dry Bulk Market (BDI) 5000 4000 09Y 3000 10Y 2000 11Y 1000 12Y 0 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 10

  12. Slide 12: 1-9. Tanker Market

    1-9. Tanker Market (WS) Tanker Market (VLCC AG/JPN) タンカーマーケット(VLCC AG/JPN) 140 120 100 80 60 40 20 0 1 2 3 4 5 6 7 8 9 10 11 12 2009 2010 2011 2012 11

  13. Slide 13: 1-10. Cars/Trucks Transported by K Line PCTC Fleet

    1-10. Transition of Cars / Trucks Transported by “K” Line PCTC Fleet ten thousand units 100 91 90 91 86 86 82 81 84 84 78 78 80 75 73 71 66 63 60 48 45 39 40 20 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Ｑ 2Q 3Q 4Q 1Q 2Ｑ 3Q 4Q 1Q 2Q 3Q 2008F 2009F 2010F 2011F 2012F Japan・FE/North America Japan・FE/Europe Japan・FE/Th

  14. Slide 14: 1-11. K Line Vessel Fleet Composition

    1-11. “K” Line Vessel Fleet Composition 600 Total 559 Total 567 Coastal /Ferry 53 Heavy Lifters Coastal /Ferry 52 2012 March 16 ships 500 2012 Dec 16 ships Energy Resource 70 Energy Resource 65 400 Offshore Energy E&P Support PCTC 99 Ships PCTC 97 2012 March 8 ships 300 2012 Dec 8 ships 200 Bulk Car

  15. Slide 15: 1-12. K Line Container Vessel Fleet Composition

    1-12. “K” Line Container Vessel Fleet Composition 2012 Mar 2012 Dec K 8,000TEU 9 12 K 5,500TEU 18 18 K 3,500TEU（3,400-4,700） 28 26 K 2,800TEU(2,700-2,900) 3 3 K 2,000TEU（1,500-2,500） 14 13 K 1,400TEU or under 8 2 300m 200m 100m 0m Total 80 74 14

  16. Slide 16: 1-13. K Line Bulk Carrier Fleet Composition

    1-13. “K” Line Bulk Carrier Fleet Composition Total 236 Total 252 260 240 Chip + Pulp 14 Chip + Pulp 16 Small Handy 21 220 Small Handy 17 200 Handymax 47 180 Handymax 46 160 Panamax 45 140 Panamax 48 120 Over Panamax 29 100 Over Panamax 21 80 60 Capesize 88 Capesize 96 40 20 0 2012 Mar 2012 Dec 15

  17. Slide 17: 1-14. K Line PCTC Vessel Fleet Composition

    1-14. “K” Line PCTC Vessel Fleet Composition 2012 Mar 2012 Dec 6,000units 34 36 5,000units（4,750~5,650) 21 23 4,000units（3,800~4,600） 24 22 3,000units（2,800~3,500） 4 4 2,000units（1,600~2,500） 8 8 800units（800~850） 6 6 200m 100m 0m Total 97 99 16

  18. Slide 18: 1-15. Energy Resource, Offshore Support & Heavy Lifter Fleet

    1-15. “K” Line Energy Resource Transportation, Offshore Energy E&P Support & Heavy Lifter Fleet Composition 100 Total 94 Total 89 90 Drillship Heavy Lifters16 2012 Mar 1 80 Heavy Lifters16 2012 Dec 1 Offshore Support Vessel 7 70 Offshore Support Vessel 7 LPG Carrier 5 Tanker/CLEAN 6 LPG Carrier 5 60

  19. Slide 19: 1-16. Fleet Upgrading Plan

    1-16. Fleet Upgrading Plan 2012F 2013F 2014F 2015F Alre ady <Fleet Upgrading Plan> To be de live re d de live re d by 3Q To be To be To be de live re d de live re d de live re d Containe rship 4 (3) 0 0 0 1700TEU No. of vessels to be received FY2012-2015 2400TEU 3500TEU 4500TEU 6400TEU *Including ne

  20. Slide 20: 1-17. K Line Group Composition of Fleet

    1-17. “K” Line Group Composition of Fleet Dec 2 0 1 2 Mar 2 0 1 2 Owned Chartered Total Total Type of Vessel No. DWT(MT) No. DWT(MT) No. DWT(MT) No. DWT(MT) Contianerships 9 571,234 65 3,817,883 74 4,389,117 80 4,293,551 Dry Bulk Carriers 75 8,715,195 177 19,080,097 252 27,795,292 236 25,760,389 Car

  21. Slide 21: Supplementary Information 2 - Financial Data

    Supplementary Information-2 - Financial Data -

  22. Slide 22: 2-1. Transition of Operating Revenues

    2-1. Transition of Operating Revenues （billion yen） 1,300 1,100 44.6 45.8 900 457.8 44.8 1,331.0 415.0 38.8 700 1,244.3 42.3 305.5 985.1 323.7 972.3 500 254.4 838.0 559.2 300 497.4 419.2 332.6 373.9 100 07F 08F 09F 10F 11F Cont ainer Bulk Carrier/Car Carrier Energy T ransport at ion Ot hers Consolid

  23. Slide 23: 2-2. Breakdown on Non-Operating, Extra-Ordinary Items

    2-2. Breakdown on Non-Operating, Extra-Ordinary Items (2012FY 3Q) 1.Non-operataing Income/Loss (Unit: billion yen) 12FY 1H 12FY 3Q Accumulated Consolidated Total ▲ 3.1 3.1 ▲ 0.0 Financial Gain/Loss ▲ 2.7 ▲ 2.0 ▲ 4.7 Equity in Earnings of Affiliated Companies 1.2 0.6 1.8 Exchange Gain/Loss ▲ 1.0 4.0

  24. Slide 24: Supplementary Information 3 - Historical Data - For 5 Years

    Supplementary Information -3 Historical Data - For 5 Years -

  25. Slide 25: 3-1. Consolidated Revenues & Incomes

    3-1. Consolidated Revenues & Incomes Consolidated Revenues & Incomes （billion yen） （billion yen） 1,400 150 1,200 100 1,000 50 800 600 0 07F 08F 09F 10F 11F 400 ▲ 50 200 0 ▲ 100 Operating Revenues Operating Income Ordinary Income Net Income 24

  26. Slide 26: 3-2. Consolidated Total Assets/Shareholders' Equity

    3-2. Consolidated Total Assets/Shareholders’ Equity Consolidated Total Assets/Shareholders’ Equity （billion yen） （multiple） 1,200 4.50 4.00 1,000 3.50 800 3.00 2.50 600 2.00 400 1.50 1.00 200 0.50 0 0.00 07F 08F 09F 10F 11F Total Assets Shareholders Equity DER（Market Price Base） 25

  27. Slide 27: 3-3. Consolidated ROE / ROA

    3-3. Consolidated ROE / ROA （billion yen） 150 Consolidated ROE / ROA 30% 25% 100 20% 15% 10% 50 5% 0% 0 -5% 07F 08F 09F 10F 11F -10% -50 -15% -20% -100 -25% Net Income（billion yen） Ordinary Income ROE ROA 26

  28. Slide 28: 3-4. Consolidated EV/EBITDA

    3-4. Consolidated EV/EBITDA EV/EBITDA （billion yen） （multiple） 180 100 160 80 140 60 120 40 100 20 80 0 60 ▲ 20 40 ▲ 40 20 ▲ 60 0 ▲ 80 ▲ 20 07F 08F 09F 10F 11F ▲ 100 EBITDA EV/EBITDA 27

  29. Slide 29: 3-5. Consolidated Assets Turnover

    3-5. Consolidated Assets Turnover Consolidated Assets Turnover （billion yen） 1,400 1.60 1,200 1.40 1.20 1,000 1.00 800 0.80 600 0.60 400 0.40 200 0.20 0 0.00 07F 08F 09F 10F 11F Operating Revenues Consolidated Assets Turnover 28

  30. Slide 30: 3-6. Ordinary Income on Revenues / Total Assets

    3-6. Consolidated Ordinary Income on Revenues / Ordinary Income on Total Assets Consolidated Ordinary Income on Revenues （billion yen） / Ordinary Income on Total Assets 150 15% 100 10% 50 5% 0 0% 07F 08F 09F 10F 11F ▲ 50 -5% ▲ 100 -10% Ordinary Income Consolidated Ordinary Income on Revenues Ordinar

  31. Slide 31: 3-7. Consolidated Interest Coverage Ratio

    3-7. Consolidated Interest Coverage Ratio Consolidated Interest Coverage Ratio （billion yen） (multiple) 140 30 120 25 100 80 20 60 15 40 10 20 0 5 ▲ 20 07F 08F 09F 10F 11F 0 ▲ 40 -5 ▲ 60 ▲ 80 -10 Operating Income Interest Coerage Ratio 30

  32. Slide 32: 3-8. Consolidated Net Income / Operating Cash Flow

    3-8. Consolidated Net Income / Operating Cash Flow Consolidated Net Income / Operating Cash Flow （billion yen） 200 150 100 50 0 07F 08F 09F 10F 11F ▲ 50 ▲ 100 Net Income Operating Cash Flow 31

  33. Slide 33: 3-9. Consolidated Segment Information

    3-9. Consolidated Segment Information （Unit: million yen） 07F 08F 09F Operating Revenues Marine Transportation 1,176,944 1,110,475 729,683 Freight Forwarting / 131,315 108,874 87,918 Harbor Transportation Others 22,789 24,968 20,431 Total 1,331,048 1,244,317 838,033 Operating Income Marine Transport

  34. Slide 34: 3-10. Non-Consolidated Financial Data

    3-10. Non-Consolidated Financial Data （Unit: million yen） 07F 08F 09F 10F 11F Operating Revenues 1,063,704 960,109 631,747 772,321 737,994 Container 559,246 497,388 332,649 419,248 373,938 Bulk Carrier & Car Carrier 457,799 414,964 254,442 305,522 323,664 Energy Transportation 44,608 45,766 42,332 4

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