Summary of Financial Results

In the business environment surrounding the Yamato Group, the global inflationary trend became more stable, while in Japan it remains hard to anticipate a full-fledged economic recovery. Although the economic sentiment is currently improving mainly in the manufacturing sector, with cost inflation being passed on to prices as well as other factors, consumer spending is sluggish due to real wages continuing to decline, as well as the labor shortage becoming more serious.

Under these circumstances, the Yamato Group is promoting initiatives based on the medium-term management plan "Sustainability Transformation 2030 ~1st Stage~", to create “economic value”, as well as “environmental value” and “social value” to make our society more sustainable, including growing profits in the base domain by strengthening the TA-Q-BIN network, expanding the Corporate business domain by providing business solutions, commercializing new business models to address the diversifying needs of customers and society, and strengthening the Group’s management platform, in order to achieve sustainable corporate value enhancement through the concept of “Helping to enrich our society”, which is part of our Management Philosophy.

Regarding the consolidated business forecasts for the first two quarters (cumulative) and the full year, operating revenue is expected to fall short of the previous forecast, taking into consideration the earnings in the first quarter and the current demand trend. Operating profit, on the other hand, will remain unchanged from the previous forecast, taking into account the progress of efforts to optimize operating costs. In addition, ordinary profit and profit attributable to owners of parent will remain unchanged from the previous forecast.