Mitsui O.S.K. Lines Ltd (MSLOF) Q1 2024 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.100 This is Mitsui OSK Lines Fiscal Year 2024 First Quarter Business 00:00:05.100 -- 00:00:07.244 Performance Briefing. 00:00:07.244 -- 00:00:13.111 I am Kazuya Hamazaki, CFO of Mitsui OSK Lines. 00:00:13.175 -- 00:00:16.437 Let me start with a general overview. 00:00:16.552 -- 00:00:19.798 In the first quarter of fiscal year 2024, 00:00:19.798 -- 00:00:22.983 we achieved business profit of ¥94.9 00:00:22.983 -- 00:00:27.030 billion, ordinary profit of ¥108.6 00:00:27.030 -- 00:00:30.957 billion, and net income of ¥107.1 00:00:30.957 -- 00:00:32.600 billion. 00:00:32.600 -- 00:00:38.249 Overall, we achieved financial results that far exceeded both our initial forecasts 00:00:38.249 -- 00:00:41.353 and the levels achieved in the same period a year earlier. 00:00:41.353 -- 00:00:42.835 Reflecting 00:00:42.835 -- 00:00:47.723 strong performances in the container ships business and the energy business with the 00:00:47.723 -- 00:00:51.128 depreciation of the yen against the dollar. 00:00:51.128 -- 00:00:56.435 As a result, our balance sheet showed total assets exceeding 4.4 trillion 00:00:56.435 -- 00:01:01.803 yen and shareholders' equity exceeding 2.5 trillion yen. 00:01:01.803 -- 00:01:06.930 As for progress on the investment plan, set out in Blue Action 2035, in 00:01:06.930 -- 00:01:11.857 the first quarter of this fiscal year, we made various investments including ordering 00:01:11.857 -- 00:01:16.884 an FSRU for a project in Poland, joining a project to develop a frozen 00:01:16.884 -- 00:01:22.073 and refrigerated warehouse in Singapore, and joining an office building development project 00:01:22.073 -- 00:01:24.213 in India. 00:01:24.318 -- 00:01:29.128 Looking at our full year forecast of this fiscal year, we revised our initial ...