Mitsui O.S.K. Lines Ltd (MSLOF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.592 I am Kinzuya Hamazaki, CFO of Mitsui OSK Lines. 00:00:05.592 -- 00:00:08.856 Let me start with a general overview. 00:00:09.093 -- 00:00:14.502 In our fiscal year 2025 first quarter results, we recorded business profit, 00:00:14.502 -- 00:00:20.313 which is operating profit plus equity in earnings of affiliated companies, of 50.9 00:00:20.313 -- 00:00:23.859 billion yen, ordinary profit of 52.2 00:00:23.859 -- 00:00:28.527 billion yen, income before income taxes of 61.6 00:00:28.527 -- 00:00:32.073 billion yen, and net income of 52.8 00:00:32.073 -- 00:00:37.362 billion yen. The energy business and the vehicle transport business performed 00:00:37.362 -- 00:00:41.268 strongly, and our results exceeded initial estimate. 00:00:41.268 -- 00:00:46.536 As a result, our balance sheet showed total assets exceeding 5.3 trillion yen 00:00:46.536 -- 00:00:52.022 and shareholders' equity exceeding 2.5 trillion yen. 00:00:52.090 -- 00:00:57.176 During the first quarter of fiscal year 2025, we increased investment for 00:00:57.176 -- 00:01:02.622 stable revenue businesses, including completing acquisition of LBC tank terminals, 00:01:02.622 -- 00:01:08.029 acquiring an office building in central London, joining an offshore wind project in Taiwan, 00:01:08.029 -- 00:01:13.135 and signing a long-term time charter contract for a new LNG dual-fuel VLCC 00:01:13.135 -- 00:01:15.895 with Itamitsu Tanker. 00:01:16.103 -- 00:01:21.309 Looking at our fiscal year 2025 full year forecast, we revised our initial 00:01:21.309 -- 00:01:24.991 ordinary profit forecast of ¥150.0 00:01:25.013 -- 00:01:31.039 billion upwards by ¥20.0 billion to ¥170.0 00:01:31.039 -- 00:01:32.661 billion. 00:01:32.661 -- 00:01:38.448 Our previous forecast for net income has also...