Message from the President


Message from the President

We would like to hereby express our deep gratitude for your generous support and cooperation.

Under the philosophy of Eiichi Shibusawa, we have sought to contribute to the
society through our corporate activities, developed through 2 pillars of
business, logistics business that is mainly based on the warehousing and
transportation covering land, sea and air, and real estate business
centering on real estate rental business.

In the first half of 174th fiscal term of our Group (from April 1, 2020 to
September 30, 2020), we have made efforts to increase our sales while taking
measures to prevent the spread of COVID-19. In the logistics business, we have endeavored
to maintain or expand our distribution processing and shipment of daily commodities, beverages,
and EC-related products, as well as carried out streamlining and cost-cutting measures.
In the real estate business, we have implemented systematic maintenance and improvement work on existing
facilities and strived to maintain and strengthen a stable earnings base.

As a result, regarding consolidated business results for the first half of the fiscal year, operating income has
decreased compared to the same period last year.
In the real estate business, building management has increased despite the decrease in incidental incomes.
In the logistics business, sales were weak in land transportation of consumer products and harbor transportation
of automobile parts, which did not exceed the increased revenue from the growth in the warehouse and
airfreight businesses. The growth in the latter businesses was achieved by the operation of newly developed
warehouses, as well as the expansion of high value-added businesses such as distributive processing.

Operating income and ordinary income fell below the figures of the same period last year, due to the drop in
logistics business. Net income attributable to the shareholders of the parent company also decreased from
the same period last year, despite posting the profit from the sale of invested shares as extraordinary income.

With respect to the dividend at the end of the first half of the fiscal year,considering the business results for the
period under review and business development in the future, it has been decided 26 yen per share as foreseen.

We will continue to strive to enhance our enterprise value, and under the management motto “Challenge, Create,
Cooperate, All for our customers”, we will carry out our policy “customer first”, ” field first”, “safety first”
to aim to continue to be a company that can achieve sound trust from customers and society, by all of our
executives and employees.

We look forward to your continued support and encouragement.

Takeshi Osumi, President