Investor relations Financial Report

Japanese

The basic principles of "K" LINE Group as shipping business group centering on shipping lie in:

a.	Diligent efforts for safety in navigation and cargo operations as well as for environmental preservation
b.	Sincere response to customer needs through applying every possible effort
c.	Contributing to the world’s economic growth and stability through continual upgrading of service quality

1.	To be trusted and supported by customers as a globally developing group
2.	To ensure our business base is able to respond to any and all changes in circumstances, and be a constantly innovating business group with proper capability for surviving perpetually in any major global market
3.	To provide a workplace where each and every employee will be able to display creativity and a challenging spirit with bright hopes and passionate aspirations

(primary finance-related numerical goals in Fiscal 2004, 2005 and Fiscal 2008,
"K" LINE Vision 2008 final year)

(unit: billion Yen)	Actual results in Fiscal 2003	Targeted figures in Fiscal 2004	Targeted figures in Fiscal 2005
operating revenues	724.7	760.0	790.0
operating income	70.5	76.0	77.0
income before income taxes and extraordinary items	62.6	74.0	75.0
net income	33.2	46.0	47.0
ROE	32.7%	33%	26%
liabilities bearing interest	281.8	260.0	240.0
shareholders’ equity	121.0	160.0	200.0
ratio of shareholders’ equity	21.6%	27%	33%
Debt Equity Ratio (on the basis of fair market value)	233% (88%)	162%	118%
investment in plant and equipment	53.8	73.0	88.0
scale of fleet	361	368	395

Preconditions for achievement

Fiscal
2008

¥110

$170

To materialize this vision and goals, we will pursue the following fundamental assignments and business strategy.

a.	To ensure stable profitability structure through reinforcing business base
b.	To create a high-level, refined and more matured culture of the group companies with materialization of dreams and upgrading of the "K" LINE Brand
c.	To strengthen corporate governance and response to risk management

	Containership/Terminal Business			Energy Resource Transportation Business
	Car Carrier Business			Logistics Business
	Bulk Carrier Business

Human Resources assignment

Organization assignment

Supplementary data(PDF)

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