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February 14, 2003
Kawasaki Kisen Kaisha, Ltd.

Amendments to Prospect for Fiscal 2002 Financial Positions
(Consolidated and Non-Consolidated)

Kawasaki Kisen Kaisha, Ltd. ("K" LINE) takes pleasure in announcing our upward-revised prospect for Financial Positions of Fiscal 2002 that was publicized on November 14, 2002 together with Financial Highlights for the first half of Fiscal 2002. Highlights of this announcement are as follows:

1. Prospect for Full-Year Financial Position (Consolidated)

(from April 1, 2002 through March 31, 2003)

(Unit: Millions of Yen)

Operating
Revenues

 

Operating
Income

 

*Income before
Income Taxes and
Extraordinary Items

 

Net Income

 

Previously-announced prospect (A) 610,000 22,000 16,500 10,000
Present prospect (B) 630,000 29,000 22,000 11,000
Increased/decreased amount (B-A) 20,000 7,000 5,500 1,000
Ratio of Increase/decrease (%) 3.3% 31.8% 33.3% 10.0%
Full-year financial position
as of March 31, 2002
571,014 19,049 11,969 4,768

Remark: "Income before Income Taxes and Extraordinary Items" is changed from "Ordinary Income."

2. Prospect for Full-Year Financial Position (Non-consolidated)

(from April 1, 2002 through March 31, 2003)

(Unit: Millions of Yen)

Operating
Revenues
Operating
Income
*Income before
Income Taxes and
Extraordinary Items
Net Income Dividend
per Share
Previously-announced prospect (A) 480,000 14,000 10,500 6,000 ¥4.00
Present prospect (B) 495,000 19,000 15,000 6,500 ¥5.00
Increased/decreased amount (B-A) 15,000 5,000 4,500 500 ¥1.00
Ratio of Increase/decrease (%) 3.1% 35.7% 42.9% 8.3% -
Full-year financial position
as of March 31, 2002
449,153 8,299 7,116 2,787 ¥3.00

Remark: "Income before Income Taxes and Extraordinary Items" is changed from "Ordinary Income."

3. Reasons for upward amendments to prospect for Full-Year Financial Positions

The Company was faced with some very unfavorable issues such as the waterfront lockout on the U. S. West Coast from the end of September 2002 and the hikes in bunker-oil price, etc. Nevertheless, "K" LINE's Q3 business results were greatly improved due to improvements of business results in every sector and satisfactory achievements of cost curtailment continuously from the 1st half. This specifically reflects such favorable factors as:

a. Upturn in Bulker and Tanker markets.
b. Steady advance in Container cargo movement, particularly from China to Europe and to the U.S.
c. Increases in car/vehicle units bound for the Middle East countries as well as for the U.S.

The content on this website is provided as a convenience for our investors for informational purpose only. This is not intended to solicit investors to buy our company's stock. This information may include forecasts, projections and strategies that are based on the assumptions. Number of risks and uncertainties may cause actual results to differ from the description in this website. The final decision and responsibility for investments rests solely with the user of this site.

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