Kintetsu World Express has released their financial results for the first nine months of the fiscal year ending March 31, 2022. For the first nine months, the company has reported a revenue of ¥703.2bn*, an increase of 65.6% year-on-year. Operating income was reported at ¥45.5bn an increase of 101.3% compared to the first nine months of 2020. Kintetsu attributed the improvements mainly to the recoveries of the world’s major economies, alongside the steady growth of the Japanese manufacturing sector and Japanese exports.
The company reported that in the air freight segment, exports rose 44.7% year-on-year to 555 thousand tons, and that air freight imports rose 20.9% to 1m shipments.
The company reported that sea freight exports increased by 16.1% to 543 thousand TEUs, and sea freight imports rose 8.9% to 216 thousand shipments.
In Japan, net sales for the segment rose 67.6% to ¥173.5bn, and operating income rose 56.9% to ¥8.1bn.
In The Americas, net sales for the segment increased 78.5% to ¥73.3bn, and operating income rose 193.9% to ¥8.8bn, said to be due to an improvement in operating gross profit margin.
In Europe, Middle East & Africa, net sales for the segment increased 57.8% to ¥43.1bn, and operating income rose 238.3% to ¥2.8bn, said to be due to an improvement in operating gross profit margin and recoveries in a South African subsidiary which showed sluggish performance a year earlier.
In East Asia & Oceania, net sales for the segment rose 79.4% to ¥166.4bn, and operating income increased 50.1% to ¥11.8bn, said to be due to increases in consumer products, construction machinery-related products, and electronic products.
In Southeast Asia, net sales for the segment rose 107.5% to ¥128.3bn, and operating income grew 95.2% to ¥10.5bn, said to be due to increases in automotive-related products and electronic products in countries such as the Philippines, Vietnam, and India.
For APL Logistics, a subsidiary of Kintetsu, net sales for the segment increased 32.3% to ¥142.3bn, and operating income rose 65.3% to ¥7.1bn, said to be due to increases in the handling volumes
Source: Kintetsu
*$ = ¥106/€ = ¥122
