Kawasaki Kisen Kaisha, Ltd (KAKKF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Financial highlights brief report for second quarter fiscal year 2025. A, financial highlights for second quarter fiscal year 2025. A1, financial results for second quarter fiscal year 2025. The results through the second quarter of fiscal year 2025 are as follows. Operating revenues totaled 500.5 billion yen. down 37.4 billion yen year on year. Operating income was 42.9 billion yen, a decrease of 18.1 billion yen year on year. Ordinary income was 59.6 billion yen, a decrease of 127.6 billion yen year on year. Interim net income, loss attributable to owners of parent, was 68.6 billion yen, a decrease of 114.5 billion yen year-on-year. The average exchange rate was 146.18 yen, and the average bunker price was $547. Segment information is shown on the slide on the next page. Operating income for the second quarter of fiscal year 2025 results was lower year-on-year due to the impact of foreign exchange rates. which appreciated 7.71 yen year on year, higher car carrier operating expenses, and a favorable dry bulk market, but lower year on year. In the container ship business, transport volume remained at the same level as in the same period of the previous fiscal year due to factors such as pre-tariff rush order demand, but short-term freight rates decreased compared to the same period of the previous fiscal year due to the impact of delivery of new vessels, et cetera. As a result, equity method income of Ocean Network Express, ONE, and equity method affiliates decreased, and ordinary income or loss and interim net income or loss also declined year on year. Extraordinary income, such as gain on sale of owned vessels and gain on sale of a portion of subsidiary shares, was recorded. Key financial indicators are shown in the lower left-hand corner of the slide. Equity capit...