Mitsui O.S.K. Lines Ltd (MSLOF) Q1 2026 Earnings Call

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WEBVTT 00:00:00.531 -- 00:00:03.995 I am Kazuya Hamazaki, CFO of Mitsui O.S.K. 00:00:03.995 -- 00:00:05.556 Lines 00:00:05.556 -- 00:00:08.838 Let me start with a general overview. 00:00:09.193 -- 00:00:14.478 In our fiscal year 2025 first quarter results, we recorded business profit, 00:00:14.478 -- 00:00:19.963 which is operating profit plus equity in earnings of affiliated companies, of 00:00:19.963 -- 00:00:25.368 50.9 billion yen, ordinary profit of 52.2 billion yen, income 00:00:25.368 -- 00:00:30.931 before income taxes of 61.6 billion yen, and net income of 52.8 billion yen. 00:00:33.575 -- 00:00:38.937 The energy business and the vehicle transport business performed strongly, and our results 00:00:38.937 -- 00:00:44.360 exceeded initial estimate. As a result, our balance sheet showed total assets 00:00:44.360 -- 00:00:51.061 exceeding 5.3 trillion yen, and shareholders' equity exceeding 2.5 trillion yen. 00:00:52.130 -- 00:00:57.171 During the first quarter of fiscal year 2025, we increased investment for 00:00:57.171 -- 00:01:02.593 stable revenue businesses, including completing acquisition of LBC tank terminals, 00:01:02.593 -- 00:01:07.994 acquiring an office building in central London, joining an offshore wind project in Taiwan, 00:01:07.994 -- 00:01:13.096 and signing a long-term time charter contract for a new LNG dual-fuel VLCC 00:01:13.096 -- 00:01:15.856 with Itamitsu Tanker. 00:01:16.183 -- 00:01:21.304 Looking at our fiscal year 2025 full year forecast, we revised our initial 00:01:21.304 -- 00:01:25.386 ordinary profit forecast of ¥150.0 billion upwards by ¥20.0 billion to ¥170.0 billion. 00:01:25.386 -- 00:01:29.127 Our previous forecast for net income has also been raised by ¥30.0 billion to ¥200.0 00:01:29.127 -- 00:01:31.127 billion. 00:01:4...