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APL Logistics: Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2019 J-GAAP (Consolidated)*

Singapore, 15 Feb 2019

(APL Logistics) For the logistics services for automotive, the handling volume saw steady growth due to business expansion with major customers and rail transportation in India. Retail-related logistics service also continued steady growth mainly in major customers, and consumer and industrial fields also showed solid growth.

As a result, net sales of APLL increased 1.8% to 146,670 million yen and the company secured operating income of 5,864 million yen (rose 131.3%) through its effort to improve operating gross profit margin. Operating income was 1,346 million yen (operating loss of 2,096 million yen a year earlier) as amortization of goodwill related to APLL acquisition by KWE is still included in this segment.

The exchange rate was U.S. $1 = \109.61 and U.S. $1 = \111.92 for the nine months ended December 31, 2018 and 2017, respectively (APLL used the average rate for the period from January 1 to September 30 because APLL’s fiscal year-end is December 31). As described above, net sales for the nine months ended December 31, 2018 increased 9.7% to 447,454 million yen, operating income rose 35.4% to 15,490 million yen, ordinary income increased 31.8% to 15,781 million yen, and net income attributable to owners of the parent rose 81.1% to 7,445 million yen.

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