Nippon Yusen Kabushiki Kaisha · TSE:9101
Nippon Yusen Kabushiki Kaisha — Nippon Yusen Kabushik New — Q1 2025 Earnings Presentation
33 slides from Nippon Yusen Kabushiki Kaisha's earnings presentation, Aug 5, 2025
Slide 1: Financial Results for Q1 FY2025, and Forecast for Full-year FY2025
Financial Results for Q1 FY2025, and Forecast for Full-year FY2025 August 5, 2025 ©NYK Group. All rights reserved.
Slide 2: Contents
Contents 1. Overview of Financial results Contents for 1st Quarter FY2025 p.3-8 2. Forecast for Full-year FY2025 p.9-14 3. Acquisition of Healthcare Logistics p.15-17 Business p.18-24 Appendix Segment Overview (Previously disclosed materials) Business investment policy, cash allocation (Attachment)
Slide 3: Overview of the Q1 Results for FY2025
1. Overview of the Q1 Results for FY2025 Results Q1 review (year-on-year comparison） Revenues：JPY600.9 billion (down JPY50.7 billion) ・Dry Bulk: Market conditions declined compared to the same period of the previous year, which was strong. (down JPY33.2 billion) Recurring profit: JPY59.7 billion (do
Slide 4: Recurring profit by segment (year-on-year comparison)
1. Overview of the Q1 Results for FY2025 Results Recurring profit by segment (year-on-year comparison) Liner Trade: JPY12.8 billion (down JPY40.8 billion) ・Changes in U.S. tariff policies and transport demand fluctuations from China, which were affected by these policies, caused freight rates to flu
Slide 5: Recurring profit by segment (year-on-year comparison)
1. Overview of the Q1 Results for FY2025 Results Recurring profit by segment (year-on-year comparison) Automotive: JPY29.4 billion (down JPY8.3 billion) ・Number of units transported remained at the same level year-on-year. However, profit levels decreased year-on-year due to lower revenues resulting
Slide 6: Summary of Q1 Results
Summary of Q1 Results Results FY2024 FY2025 Year-on- year (Billions of yen) Q1 Q2 1H Q3 Q4 2H Full-Year Q1 Revenues 651.7 665.1 1,316.8 660.1 611.7 1,271.8 2,588.7 600.9 -50.7 Operating 65.8 49.7 115.6 62.5 32.6 95.1 210.8 37.7 -28.0 Profit Recurring 125.7 163.4 289.2 147.1 54.4 201.6 490.8 59.7 -66
Slide 7: Q1 Comparison by Segment Results
Q1 Comparison by Segment Results Operating FY2024 FY2025 Year- Segment on-year (Billions of yen) Q1 Q2 1H Q3 Q4 2H Full-Year Q1 44.5 47.6 92.2 44.8 43.3 88.2 180.4 44.5 -0.0 Liner & Logistics Liner Trade 53.7 122.9 176.6 73.5 24.1 97.6 274.3 12.8 -40.8 Air Cargo 46.6 46.0 92.6 49.4 43.6 93.0 185.7 4
Slide 8: Analysis of Change in Recurring Profit
Analysis of Change in Recurring Profit between FY2024 and FY2025 Results Analysis by factor Analysis by business (billion yen) （billion yen） Foreign \145.32/$ Exchange -6.6 Apprecited by ¥9.70 Bunker Oil $578.60/MT Prices 0.6 Decreased by $55.48/MT Liner (incl. ONE) -40.1 Automotive Market Effects,
Slide 9: Forecast for Full-Year FY2025
2. Forecast for Full-Year FY2025 Forecast Recurring profit by segment (Comparison with the forecast announced at the previous full-year results) Estimated impact of tariff measures on recurring profit Revenues: JPY2,350 billion (down JPY30.0 billion） Unit: JPY billion ・Logistics: Down JPY33.0 billio
Slide 10: Forecast for Full-Year FY2025: Liner Trade and Air Cargo
2. Forecast for Full-Year FY2025 Forecast Recurring profit by segment (Comparison with the forecast announced at the previous full-year results) Liner Trade: JPY70.0 billion (down JPY11.0 billion) ・Container Shipping: Rerouting via the Cape of Good Hope resulting from the situation in the Red Sea, i
Slide 11: Forecast for Full-Year FY2025: Automotive, Dry Bulk, Energy
2. Forecast for Full-Year FY2025 Forecast Recurring profit by segment (Comparison with the forecast announced at the previous full-year results) Automotive: JPY100.0 billion (up JPY4.0 billion) ・Strong Q1 results led to higher full-year profit levels than expected at the beginning of the fiscal year
Slide 12: Summary of Forecast for FY2025
Summary of Forecast for FY2025 Forecast FY2024(Result) FY2025(Forecast) Change Year-on- from 1H 2H 1H Year Prev. Full-year Q1 2H Full-Year Forecast (Billions of yen) Q1 Q2 Q3 Q4 Q2 (Result) 1,316.8 1,271.8 1,190.0 Revenues 2,588.7 1,160.0 2,350.0 -238.7 -30.0 651.7 665.1 660.1 611.7 600.9 589.1 115.
Slide 13: Forecast by Segment for FY2025
Forecast by Segment for FY2025 Forecast Operating FY2024 (Result) FY2025 (Forecast) Segment Year-on- Q1 year (Billions of yen) Q1 Q2 1H 2H Full-year Q2 1H 2H Full-year (Result) 44.5 47.6 92.2 88.2 180.4 44.5 44.0 88.5 87.0 175.5 -4.9 Liner & Logistics Liner Trade 53.7 122.9 176.6 97.6 274.3 12.8 33.
Slide 14: Forecast by Segment for FY2025
Forecast by Segment for FY2025 Forecast Operating Previous Forecast Revised Forecast Change from Prev. Forecast Segment (Billions of yen) 1H 2H Full-year 1H 2H Full-year 1H 2H Full-year 89.0 88.5 177.5 88.5 87.0 175.5 -0.5 -1.5 -2.0 Liner & Logistics Liner Trade 51.0 30.0 81.0 46.0 24.0 70.0 -5.0 -6
Slide 15: Acquisition of Healthcare Logistics Business
3. Acquisition of Healthcare Logistics Business ©NYK Group. All rights reserved. 15
Slide 16: Acquisition of Healthcare Logistics Business of Walden Group
Acquisition of Healthcare Logistics Business of Walden Group, a European logistics enterprise The Walden Group's healthcare logistics business has a long history and strong presence in Europe, and is expected to generate high synergies with the Yusen Logistics Group (YL Group). Overview of Business
Slide 17: Acquisition of Healthcare Logistics Business of Walden Group
Acquisition of Healthcare Logistics Business of Walden Group, a European logistics enterprise As part of our business strategy to expand stable logistics operations that are unaffected by shipping market volatility, the acquisition is a strategic move to strengthen our healthcare logistics business,
Slide 18: Appendix
Appendix ©NYK Group. All rights reserved. 18
Slide 19: Segment Overview: Liner & Logistics - Air Cargo Transportation
Segment-Overview: Liner & Logistics Segment 1．Air Cargo Transportation（NCA） FY2024(Result) FY2025 1H 2H Full- Q1 Q1 Q2 Q3 Q4 year Chargeable Weight 225 218 443 112 (1,000 tons) 115 110 115 103 Volume (RTK) 1,278 1,207 2,485 631 (mil.ton kilo) 655 623 637 570 Capacity (ATK) 1,971 1,927 3,898 976 (mil
Slide 20: Segment Overview: Liner & Logistics - Logistics
Segment-Overview: Liner & Logistics Segment 2．Logistics FY2024(Result) FY2025(Forecast) Change 1H 2H 1H from Prev. Forecast Full-year Q1 2H Full-year Q1 Q2 Q3 Q4 Q2 (Full-year) (Result) TEU 316 330 333 646 337 670 -16 Ocean (1,000TEUs) 154 162 170 160 159 174 Export Year-on- 3% 10% 5% 6% 2% 4% -2% Y
Slide 21: Dry Bulker and Tanker - Market trend and forecast
Segment-Overview Segment 3．Dry Bulker and Tanker - Market trend and forecast Prev. FY2024 (Result) FY2025(Forecast) Forecast Q1 Q1 Q2 1H Q3 Q4 2H Full-Year Q2 2H Full-Year Full-year (Result) BDI 1,849 1,869 1,859 1,435 1,118 1,276 1,568 1,464 1,890 1,513 1,595 1,580 Dry Bulk Carriers Cape 22,701 24,
Slide 22: Segment Overview: Automotive Business
Segment-Overview Segment 4．Automotive Business FY2024 (Result) FY2025(Forecast) Change from Prev. 1H 2H 1H Forecast Full-year 2H Full-Year (Full-year) Q1 Q1 Q2 Q3 Q4 Q2 (Result) 219 224 218 All Trade 444 220 438 -8 (10,000 Cars) 112 108 117 108 113 105 -3% 0% -1% Year-on-year -2% -2% -1% -1% -0% -7%
Slide 23: Business Investment Policy
Slide from Briefing Material for FY2024 Full-year Business Investment Policy Financial Results (as disclosed on May 8, 2025) Increase the total amount of investments to be made until FY2026 to JPY1.4 trillion for investment targets, leading to stable shareholder return in the future. As of March 31,
Slide 24: Cash Allocation
Slide from Briefing Material for FY2024 Full-year Financial Results (as disclosed on May 8, 2025) Cash Allocation Formulate a strategic cash allocation plan to achieve both capital efficiency and sustainable growth. Reflect the current status of various cash flows, including dividend income from ONE
Slide 25: Financial Results for FY2025 1st Quarter (ONE)
Financial Results for FY2025 1st Quarter August 1, 2025 1
Slide 26: Index
Index 1. FY2025 1st Quarter Results P.3 2. Liftings, Utilization, P.4 and Freight Index in Major Trades 3. FY2025 Full Year Forecast P.5 4. ONE’s Response to Recent Changes in the P.6 Business Environment 5. Reference (Fleet Structure, Service Structure & P.7 New Order) 6. 6. Appendix: Change of Dem
Slide 27: FY2025 1st Quarter Results
1. FY2025 1st Quarter Results Outline The market in 1Q showed greater volatility when compared to the same period in the previous fiscal year, experiencing lower average freight rates and fluctuating demand amid uncertainties surrounding tariffs. For 1Q, ONE achieved a net profit of US$ 86 million d
Slide 28: Liftings, Utilization and Freight Index in Major Trades
2. Liftings, Utilization and Freight Index in Major Trades FY2024 FY2025 Liftings / Utilization by Trades 1Q 2Q 1H 3Q 4Q 2H Full Year 1Q Results Results Results Results Results Results Results Results Asia - North America Lifting (1,000TEU) 673 730 1,403 713 633 1,345 2,748 672 Eastbound Utilization
Slide 29: FY2025 Full Year Forecast
3. FY2025 Full Year Forecast Outline • Regarding our full-year forecast for FY2025, the current global environment remains highly uncertain. • Security risks persist, as demonstrated by continued incidents in the Red Sea. As a result, vessels are expected to continue routing around the Cape of Good
Slide 30: ONE's Response to Recent Changes in the Business Environment
4. ONE’s Response to Recent Changes in the Business Environment ➢In April, the US announced "reciprocal tariffs". Subsequently, the United States Trade Representative (USTR) unveiled details of retaliatory measures and introduced new controversial port fees. ➢The Asia-North America trade experienced
Slide 31: Reference (Fleet Structure, Service Structure & New Order)
5. Reference（Fleet Structure, Service Structure & New Order) Fleet Structure Service Structure 1) As of end of 2) As of end of Size 2)-1) Mar 2025 Jun 2025 （FY2025 1Q Structure of dominant and 20,000TEU >= Capacity (TEU) 264,600 264,600 0 non-dominant space allocation） Vessels 12 12 0 10,500TEU - 20
Slide 32: Appendix Change of Demand and Freight Index
6. Appendix Change of Demand and Freight index Liftings Freight Index (TEU) (FY2018 1Q=100) TPEB : Transpacific Eastbound ©2025 Ocean Network Express Pte. Ltd. All Rights Reserved 8
Slide 33: Legal Disclaimer
Legal Disclaimer The above statements and any others in this document that refer to future plans, earning forecasts, strategy, policy and expectations are “forward-looking statements”, which are made based on the information currently available and certain assumptions. Words such as, without limitat
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