Presentation Transcripts

Latest Update : May 20, 2010

Back to Financial Results (FY3/2010)

Investor Meeting Presentation for FY 3/2010 held on May 7, 2010

Table of Contents

This graph shows net interest-bearing debt each year, which is total interest-bearing debt minus cash and cash equivalents.

Net interest-bearing debt at the end of the fiscal year decreased by 13.1 billion yen below the previous year to 96.9 billion yen. We have successfully reduced net interest-bearing debt below our medium term target of 100 billion yen, due to suppressed capital expenditures and higher net income than we planned, although we implemented the E-ShipR employee shareholding incentive plan and a share buyback.

Although we will continue our efforts in creating cash flows, for the fiscal year ending March 31, 2011, free cash flows are projected to be 1 billion yen, because capital expenditures will increase by approximately 19 billion yen mainly due to capacity expansion plans. At the same time, we will also actively consider new investment opportunities for future growth.

17page (total 67pages)

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