Nippon Yusen Kabushiki Kaisha : Other electronic provision measures matters of the 137th Ordinary General Meeting of Shareholders (matters regarding omission of delivered documents)

The 137th Ordinary General Meeting of Shareholders

Other electronic provision measures matters

(matters regarding omission of delivered documents)

1. The Following Matters to Be Indicated in the Business Report
2. 1. Financial Position and Results of Operation and Their Changes in the Last Three Fiscal Terms
   2. Status of Stock Acquisition Rights, etc.
   3. Independent Auditor (Kaikei Kansa Nin)
   4. Matters on Establishment of Structures to Ensure Proper Execution of Business Operations and the Implementation Status of Such Structures
3. Consolidated Statement of Changes in Equity
4. Notes to Consolidated Financial Statements
5. Unconsolidated Statement of Changes in Equity
6. Notes to Unconsolidated Financial Statements

(From April 1, 2023 to March 31, 2024)

Nippon Yusen Kabushiki Kaisha

The above matters are omitted from the documents to be delivered to shareholders who have requested delivery of paper-based documents pursuant to the provisions of laws and regulations and the Company's Articles of Incorporation.

Financial Position and Results of Operation and Their Changes in the Last Three Fiscal Terms

1. Consolidated Financial Position and Results of Operation

(In millions of yen, unless otherwise stated)

Category	The 134th term	The 135th term	The 136th term	The 137th term
			(current term)
	FY2020	FY2021	FY2022	FY2023
Revenues	1,608,414	2,280,775	2,616,066	2,387,240
Recurring profit (loss)	215,336	1,003,154	1,109,790	261,341
Profit (loss) attributable to	139,228	1,009,105	1,012,523	228,603
owners of parent
Profit (loss) per share	824.55 (yen)	5,973.76 (yen)	1,993.71 (yen)	468.13 (yen)
Total Assets	2,125,480	3,080,023	3,776,797	4,254,770
Equity	667,411	1,759,073	2,524,993	2,693,365
Equity per share	3,703.27 (yen)	10,144.29 (yen)	4,877.55 (yen)	5,772.5 (yen)

Notes: 1. Profit (loss) per share is calculated on the basis of the average number of shares outstanding in each fiscal year, and equity per share is calculated on the basis of the total number of shares outstanding at each term end. In addition, the total number of issued shares excludes the number of treasury stock.

2. The Company shares held by the Board Incentive Plan Trust are recorded as treasury stock in Consolidated Financial Statements. Accordingly, the Company shares held by the said Trust are included in shares of treasury stock to be excluded from the average number of shares outstanding in each fiscal year and the total number of shares outstanding at each term end.

3. The Company has adopted the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29 issued on March 31, 2020), etc. from the beginning of the 135th term. The figures for the 135th term and thereafter reflect these accounting standards.

4. Profit (loss) per share and equity per share for the 136th term are calculated on the assumption that the three-for-one stock split of the Company's common stock with an effective date of October 1, 2022 was conducted at the beginning of the term.

2) Unconsolidated Financial Position and Results of Operation

(In millions of yen, unless otherwise stated)

Category	The 134th term	The 135th term	The 136th term	The 137th term
			(current term)
	FY2020	FY2021	FY2022	FY2023
Revenues	561,745	777,239	983,554	1,024,291
Recurring profit (loss)	90,960	434,140	628,651	272,871
Profit (loss)	38,252	488,220	600,344	259,059
Profit (loss) per share	226.54 (yen)	2,890.16 (yen)	1,182.09 (yen)	530.49 (yen)
Total Assets	1,333,529	1,592,888	1,726,420	1,938,047
Equity	249,490	678,184	884,221	835,968
Equity per share	1,477.48 (yen)	4,014.44 (yen)	1,739.97 (yen)	1,820.71 (yen)

Notes: 1. Profit (loss) per share is calculated on the basis of the average number of shares outstanding in each fiscal year, and equity per share is calculated on the basis of the total number of shares outstanding at each term end. In addition, the total number of issued shares excludes the number of treasury stock.

2. The Company shares held by the Board Incentive Plan Trust are recorded as treasury stock in Unconsolidated Financial Statements. Accordingly, the Company shares held by the said Trust are included in shares of treasury stock to be excluded from the average number of shares outstanding in each fiscal year and the total number of shares outstanding at each term end.

3. The Company has adopted the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29 issued on March 31, 2020), etc. from the beginning of the 135th term. The figures for the 135th term and thereafter reflect these accounting standards.

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4. Profit (loss) per share and equity per share for the 136th term are calculated on the assumption that the three-for-one stock split of the Company's common stock with an effective date of October 1, 2022 was conducted at the beginning of the term.

Status of Stock Acquisition Rights, etc. (as of March 31, 2024)

Not applicable.

Independent Auditor (Kaikei Kansa Nin)

(1) Name of Independent Auditor

Deloitte Touche Tohmatsu LLC

(2) Compensation to Independent Auditor for the fiscal year under review

Category	Total amount
Compensation for the fiscal year under review	¥207 million
Total of cash and other financial profits payable by the Company and its	¥373 million
subsidiaries to the Independent Auditor

Notes: 1. The Audit & Supervisory Committee consented to the amount of compensation for the Independent Auditor pursuant to Article 399, Paragraph 1 and Paragraph 3 of the Companies Act after confirming the contents of the audit plan submitted by the Independent Auditor, the status of execution of duties by the Independent Auditor, and reasonableness of the basis, etc. for calculating the estimated compensation through interviews and hearings with the Independent Auditor and internal relevant divisions.

1. 1. The audit contract between NYK and the Independent Auditor does not separate the compensation for the audit based on the Companies Act from the compensation for the audit based on the Financial Instruments and Exchange Act. Therefore, the aforementioned amount includes the compensation for the audit, etc. based on the Financial Instruments and Exchange Act.
   2. The Company pays the Independent Auditor fees for advice and guidance services on accounting, which are services other than the services stipulated in Article 2, Paragraph 1 of the Certified Public Accountants Law (non-audit service).
   3. Among our principal subsidiaries, UNI-X NCT CORPORATION, NYK GROUP AMERICAS INC., NYK GROUP EUROPE LTD., and NYK GROUP SOUTH ASIA PTE. LTD. undergo audits of statutory documents by CPAs or audit corporations other than the Independent Auditor of NYK (including persons who have qualifications equivalent to these qualifications in foreign countries) (limited to audit pursuant to the Companies Act or Financial Instruments and Exchange Act (including foreign laws equivalent to these laws)).
   4. During the fiscal year under review, the Company paid additional compensation of ¥7 million for the audit in the previous fiscal year to Independent Auditor Deloitte Touche Tohmatsu LLC other than the compensation paid as described above.
2. Company Policy regarding dismissal or decision not to reappoint the Independent Auditor

If the Audit & Supervisory Committee of NYK concludes that the Independent Auditor falls under any of the items of Article 340, paragraph 1 of the Companies Act, it will dismiss the Independent Auditor upon its members' unanimous approval. In such cases, the Audit & Supervisory Committee will report the dismissal of the Independent Auditor and the reason thereof to the first Shareholders' Meeting held immediately after such dismissal.

In addition to the above, if it is recognized that the Independent Auditor is no longer able to execute its duties in an appropriate manner or, for any other reason, the replacement of the Independent Auditor is deemed to be appropriate, the Audit and Supervisory Committee will determine a resolution to the effect of dismissal of or a decision not to reappoint the Independent Auditor, to be proposed at the Shareholders' Meeting.

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Matters on Establishment of Structures to Ensure Proper Execution of Business Operations and the Implementation Status of Such Structures

The following is a summary of the details of the resolution concerning the matters on establishment of structures to ensure proper execution of business operations and the implementation status of such structures during the current fiscal year. The Company transitioned to a company with Audit & Supervisory Committee on June 21, 2023, based on a resolution of the 136th Ordinary General Meeting of Shareholders held on the same date. The following descriptions relate to after the transition, however, before the transition, the Company maintained and operated the similar system as a company with Audit & Supervisory Board.

[Structures to Ensure Proper Execution of Business Operations]

The establishment of structures to ensure the proper execution of business operations by the Company and the Group is determined by the Board of Directors following deliberation and confirmation by the Internal Control Committee.

1. Structure to ensure that the execution of duties by Directors and employees is in compliance with laws and regulations, and the Articles of Incorporation

1. Structure concerning corporate governance

1. The Board of Directors, including Outside Directors, determines important matters and receive reports in accordance with laws, regulations, the Articles of Incorporation, and internal rules.
2. The Board of Directors determines the duties and responsibilities of Directors and supervises their execution of duties.
3. The Audit & Supervisory Committee audits the execution of duties by Directors in accordance with the Rules on the Audit & Supervisory Committee and the Code of Audit & Supervisory Committee Auditing and Supervising Standards.

1. Structure concerning compliance

1. The Company formulates the Group-wide Mission Statement and Business Credo, and formulates the Code of Conduct and corporate rules, etc., that apply to officers and employees, and establishes a whistleblowing system.
2. The Company creates a position of Chief Compliance Officer (CCO) to oversee the establishment of compliance-related systems and activities, and the Compliance Committee evaluates the state of compliance.
3. The Company promotes the establishment of similar systems at subsidiaries and other entities.

1. Structure concerning financial statements

1. The Company formulates policies and operational rules for proper accounting and financial statements.
2. Committees relating to the internal control reporting system and information disclosure evaluate the establishment and operation of systems to ensure the appropriateness of financial statements.

1. Structure concerning internal audits

The internal audit division regularly audits the overall operations of the Company and its subsidiaries, etc., in accordance with rules and standards for internal audits.

2. Structures to store and manage information relating to the execution of duties of the Directors

Important documents related to the execution of duties by Directors, such as minutes of General Meetings of Shareholders and meetings of the Board of Directors, are stored and managed appropriately by the division in charge, and Directors may access these documents at any time.

3. Rules and other structures to manage the risks of loss

1. The Company positions safety as its most important issue, and establishes optimal safety management systems for each of our business domains: sea, land, and air.
2. The Company establishes risk management policies and rules, and the Risk Management Committee determines the Group's major risks and Management Headquarters, and evaluates risk trends and the appropriateness of countermeasures.

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4. Structure to ensure the effective execution of duties of Directors

1. The Company adopts an executive officer system, under which Executive Officers execute their assigned duties based on delegation from the Board of Directors and Directors.
2. The Company determines the duties and responsibilities of Directors and Executive Officers, the division of duties among internal organizations, the authority of officers and employees, the standards for submitting proposals to the Board of Directors, etc., and the standards for decisions by position.
3. The Company delegates some decisions on important business execution to Directors by resolution of the Board of Directors to accelerate decision-making.

1. Structures to ensure proper execution of business operations in the NYK Group

1. The division in charge of each subsidiary, etc. manages each subsidiary, etc. in accordance with internal rules for the management of subsidiaries, etc.
2. The Company dispatches Directors and Audit & Supervisory Board Members to each subsidiary, etc. to ensure the proper execution of business operations.
3. Officers and employees of subsidiaries, etc. may also use the Company's whistleblowing system, and compliance matters that occur at subsidiaries, etc. are reported to the Company in accordance with internal rules.

1. Matters concerning Directors and employees to assist the duties of the Audit & Supervisory Committee, matters concerning the independence of such Directors and employees from other Directors (excluding Directors who are Audit & Supervisory Committee Members) and matters to ensure the effectiveness of directions given to such Directors and employees by the Audit & Supervisory Committee

1. The Company establishes a division that assists the Audit & Supervisory Committee in the execution of its duties, and assigns dedicated employees to the division. There are no Directors who are assigned to assist the duties of the Audit & Supervisory Committee.
2. Such dedicated employees work under the Audit & Supervisory Committee, and the full-time Audit & Supervisory Committee Members carry out personnel evaluations of such employees. Any reassignment or disciplinary action involving such employees shall be decided, fully reflecting the opinion of Audit & Supervisory Committee.

1. Structure for reporting to Audit & Supervisory Committee, and structure to ensure the prohibition of unfair treatment to whistleblowers who made reporting

1. Audit & Supervisory Committee Members may attend and express their opinions at meetings of the Board of Directors, as well as the Management Meeting and other important internal meetings.
2. The Company establishes the obligation of Directors and Executive Officers to report to the Audit & Supervisory Committee if there is a risk of significant damage to the Group in internal rules.
3. The Company establishes a system for officers and employees to report compliance matters of the Group to Audit & Supervisory Committee.
4. The Company establishes internal rules to keep whistleblowers unidentified and prohibit the unfair treatment.

1. Matters concerning the policy for processing expenses, etc. arising with respect to the execution of duties by Audit & Supervisory Committee Members (limited to those related to the execution of duties by the Audit & Supervisory Committee), and other structures to ensure Audit & Supervisory Committee conducts audits effectively

1. The Company bears the costs necessary for the execution of duties by Audit & Supervisory Committee Members.
2. The internal audit division closely coordinates and exchanges information with the Audit & Supervisory Committee on the formulation of audit plans and results of internal audits.
3. Any reassignment involving the head of the internal audit division shall be decided, fully reflecting the opinion of Audit & Supervisory Committee and ensuring independence from Directors (excluding Directors who are Audit & Supervisory Committee Members).

[Implementation Status of Structures to Ensure Proper Execution of Business Operations]

The following is an outline of the initiatives identified by the Internal Control Committee as important for internal controls.

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1. Initiatives to ensure the legality and efficiency of the execution of duties by Directors, etc.

1. The Board of Directors operates in accordance with rules such as the Rules on the Board of Directors and the standards for submitting proposals, and its decisions on the election and dismissal of Directors, etc. and on compensation, are based on the results of discussions at the Nomination Advisory Committee and the Compensation Advisory Committee.
2. The Board of Directors conducts a questionnaire of Directors to analyze, evaluate, and identify issues, in order to improve its effectiveness, and revises the method of operating the Board of Directors as necessary.
3. The Board of Directors decides the management plan, and the Executive Directors and Executive Officers formulate and implement business operating policies in line with the plan.

1. Initiatives concerning compliance

1. The Chief Compliance Officer (CCO) formulates an annual policy and plan for compliance activities, which is approved by the Compliance Committee at the beginning of the fiscal term. The status of activities, whistleblowing, and outcome of response to compliance issues are reviewed by the Compliance Committee and the Committee for ensuring adherence to laws during the term, and the status is reported to the Board of Directors.
2. The Company strives to foster individual awareness and a corporate culture that emphasizes compliance by conducting compliance awareness questionnaires of officers and employees, requesting pledges on compliance with the Code of Conduct, and carried out compliance education and training for officers and employees according to their positions and responsibilities, etc.
3. In the event of an emergency, the Company ensured implementation of prompt remedy and recurrence prevention measures pursuant to internal rules on dealing with compliance matters, while reporting important matters to the Board of Directors via the Compliance Committee, based on the reporting standard stipulated in the detailed rules.

1. Initiatives concerning financial statements

1. A specialized sub-committee has been established within the Internal Control Committee to verify the reliability of financial statements and to deliberate the drafts of the Internal Control Report.
2. To ensure timely and appropriate disclosure, the Company reports on the contents of disclosures, etc. at the quarterly Information Disclosure Committee, and conducts the effectiveness assessments of the design and implementation of internal controls.

1. Initiatives concerning internal audits

1. The results of internal audits are reported to the audited divisions and subsidiaries, etc., and necessary action is taken to address issues raised. The Board of Directors and the President receive reports on the results of internal audits and the responses to the issues raised.
2. To ensure the effectiveness and efficiency of audit operations, the Company is using IT to sophisticate auditing methods.

1. Initiatives concerning information management and information security

1. The Company has set procedures and authority for inspection, and retention periods to manage information according to its level of importance, and is striving to efficiently process administrative work and share information.
2. Against cyber attacks that aim to steal information or shut down systems, etc., construction of management system is underway on a global scale, involving reinforcement of security measures and periodical implementation of training and drills. The Company also provides e-learning opportunities and targeted attack e-mail training, etc. for information security education and to raise awareness.

1. Initiatives concerning safety and risk management

1. The Company has set a goal to "Eliminate major accidents" in its sea, land, and air business domains, has established safety management rules and mechanisms, and is conducting activities to promote safety based on these rules and mechanisms. The Company audits the safety standards of vessels and strives to maintain and improve safety standards. These activities are regularly evaluated by the Safety and Environmental Management Committee.
2. The Risk Management Committee evaluates the current risk management status and the appropriateness of countermeasures against visible risks. The Company also updates the list of risks, selects important risks for the following fiscal year based on risk trends and certain criteria, determines

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the Risk Management Headquarters, and verifies the appropriateness of these important risk countermeasures.

1. The Company is discussing and making improvements to its medium- and long-term management methods to improve risk management effectiveness.
2. The Company actively utilizes the knowledge of outside experts in its risk management activities.

1. Initiatives to ensure proper execution of business operations in the NYK Group

1. Each subsidiary, etc. has established its own Code of Conduct based on the NYK Group-wide Mission Statement and Business Credo. In addition, the Company obtains pledges from the officers and employees of each subsidiary, etc., concerning compliance with each company's Code of Conduct.
2. In addition to establishing guidelines on basic management matters of the Group, the Company has established standards related to matters such as corporate management, accounting, and compliance, which subsidiaries, etc. must comply with or refer to, and the Company periodically audits or investigates the state of compliance with these standards.
3. The Company informs its subsidiaries, etc. of the whistleblower helpdesks at the Company or each company and encourages their use. The Company also provides training opportunities related to legal and compliance matters to its subsidiaries, etc.

1. Initiatives concerning audits by the Audit & Supervisory Committee

1. The Company's Audit & Supervisory Committee's Office is under direct control of the Audit & Supervisory Committee, and the dedicated employees assigned to the Office assist the Audit & Supervisory Committee in its audits, etc., serve as the secretariat for the Audit & Supervisory Committee and perform other supportive duties for the Audit & Supervisory Committee Members. Such dedicated employees work under the Audit & Supervisory Committee Members, and the full-time Audit & Supervisory Committee Members carry out personnel evaluations of such employees, thereby ensuring their independence from executive divisions.
2. Audit & Supervisory Committee Members attend and express their opinions at important meetings such as meetings of the Board of Directors and the Management Meeting, and gather information by inspecting important documents, including minutes and approval documents and interviewing relevant persons.
3. The reporting of facts that may cause significant damage to the Company or the Group is stipulated in the internal rules, and the status of compliance matters and whistleblowing management are reported to the Audit & Supervisory Committee on a regular basis. Whistleblowers are kept unidentified in accordance with internal rules.
4. Audit & Supervisory Committee Members exchanged information with the Independent Auditor and the internal audit division, and cooperated to improve the effectiveness and efficiency of audits, etc. by the Audit & Supervisory Committee through the collaboration of the three parties.
5. The Company bears the costs necessary for the execution of duties by Audit & Supervisory Committee Members in order to ensure the effectiveness of audits, etc.

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Consolidated Statement of Changes in Equity (From April 1, 2023 to March 31, 2024)

(In millions of yen)

		Shareholders' capital		Accumulated other comprehensive income
						Unrealized		Foreign	Remeasure-	Total	Non-
					Total	gain (loss)	Deferred	accumulat-
Item	Common	Capital	Retained	Treasury	on	currency	ments of	ed other	controlling	Total equity
sharehold-	gain (loss)	translation	defined
	stock	surplus	earnings	stock	available-	compre-	interests
					ers' equity	for-sale	on hedges	adjust-	benefit	hensive
							ments	plans
						securities		income
Balance at the beginning of	144,319	44,897	2,018,915	(3,793)	2,204,338	32,909	6,583	207,437	27,371	274,302	46,352	2,524,993
current period
Changes of items during the
period
Dividends of surplus			(115,964)		(115,964)							(115,964)
Profit attributable to owners of			228,603		228,603							228,603
parent
Purchase of treasury stock				(200,044)	(200,044)							(200,044)
Disposal of treasury stock		0		241	241							241
Change in equity of parent		202			202							202
related to transactions with
non-controlling shareholders
Change in scope of			631		631							631
consolidation
Change in equity in			(26,663)		(26,663)							(26,663)
subsidiaries of foreign
affiliated companies
Other				0	0							0
Net change of items other						17,890	1,430	199,908	65,494	284,724	(3,359)	281,365
than shareholders' capital
Total changes of items during	-	202	86,606	(199,802)	(112,994)	17,890	1,430	199,908	65,494	284,724	(3,359)	168,371
the period
Balance at the end of current	144,319	45,099	2,105,521	(203,595)	2,091,344	50,800	8,014	407,345	92,866	559,026	42,993	2,693,365
period

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Notes to Consolidated Financial Statements

(1) Basis of presenting consolidated financial statements

1. Scope of Consolidation
2. 1. Number of Consolidated subsidiaries: 505 Name of principal consolidated subsidiaries
      Principal consolidated subsidiaries are stated in the Business Report "1. Overview of Operations for NYK Group, (9) Status of Major Business Combination, 2) Status of principal subsidiaries." Changes in the current fiscal year are as follows:
      NYK LNG SHIPPING NO.1 CORP. and 17 other companies were included within the scope of consolidation as they were newly established.
      BOTAN MARITIMA S.A. and 13 other companies were included in the scope of consolidation as their total assets, revenues, profit and retained earnings, etc. increased in importance.
      NOEL TOPCO LTD. and 10 other companies were included in the scope of consolidation due to the acquisition of shares.
      Mitsubishi Ore Transport Co., Ltd. was changed from affiliates accounted for by the equity method to consolidated subsidiaries due to the acquisition of shares.
      NYK LINE HOLDINGS (MALAYSIA) SDN BHD and 24 other companies were excluded from the scope of consolidation as they were liquidated.
      TRANSPORTS PIERRE SA and PIERRE LOGISTIC SA were excluded from the scope of consolidation as they merged with AJIMEX SRL on May 15, 2023.
      NYK PORTS LLC. and 4 other companies were excluded from the scope of consolidation due to the disposal of shares.
   2. Name of principal unconsolidated subsidiaries
      There is no principal unconsolidated subsidiary to be noted.
   3. Reason for exclusion from the scope of consolidation
      Total assets, total sum of revenues, total equity amount of profit, and total equity amount of retained earnings, etc. of the unconsolidated subsidiaries are all small compared to total assets, total sum of revenues, profit and total equity amount of retained earnings of consolidated companies, and do not have a material effect on the consolidated financial statements as a whole. This is why they are excluded from the scope of consolidation.
3. Application of equity method
4. 1. Number of affiliates accounted for by the equity method unconsolidated subsidiaries: 3
      affiliates: 222
      Name of principal affiliates accounted for by the equity method:
      Principal affiliates are stated in the Business Report "1. Overview of Operations for NYK Group, (9) Status of Major Business Combination, 3) Status of principal affiliates."
      Changes during this fiscal year are as follows:
      KNOT SHUTTLE TANKERS 43 AS and 2 other companies were included within the scope of application of the equity method as they were newly established.
      KEYS BUNKERING WEST JAPAN and 12 other companies were included in the scope of application of the equity method as their total assets, revenues, profit and retained earnings, etc. increased in importance.
      PT. PATIMBAN INTERNATIONAL CAR TERMINAL and 5 other companies were included in the scope of application of the equity method due to the acquisition of shares.
      Mitsubishi Ore Transport Co., Ltd. was changed from affiliates accounted for by the equity method to consolidated subsidiaries due to the acquisition of shares.
      NEW NADA SHIPPING CO., LTD. and 1 other company were excluded from the scope of application of the equity method as they were liquidated.
      KNOT SHUTTLE TANKERS 23 AS was excluded from the scope of application of the equity method as it merged with KNUTSEN SHUTTLE TANKERS 3 AS on June 20, 2023.

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KNOT SHUTTLE TANKERS 12 AS was excluded from the scope of application of the equity method as it merged with KNOT SHUTTLE TANKERS AS on September 14, 2023.

1. 1. Name of principal unconsolidated subsidiaries and affiliates that are not accounted for by the equity method
      There is no principal unconsolidated subsidiary or affiliate to be noted.
   2. Reason for exclusion from the scope of application of the equity method
      Profit and total equity amount of retained earnings, etc. of the unconsolidated subsidiaries and affiliates that are not accounted for by the equity method are small compared to total equity amount of profit of the consolidated companies and companies accounted for by the equity method with a negligible impact on retained earnings, and do not have a material effect on the consolidated financial statements as a whole. This is why they are excluded from the scope of application of the equity method.
   3. Noteworthy matters concerning procedures in the application of the equity method
      For one of the companies accounted for by the equity method whose closing date of account is December 31, the Company used financial statements based on a provisional closing conducted as of the closing date for the consolidated financial statements.
      For companies other than those mentioned above whose closing dates were different from that of the consolidated statements, the Company used financial statements as of the closing date of the respective companies.
2. Fiscal year for consolidated subsidiaries
   For 40 consolidated subsidiaries whose closing dates of account is December 31, financial statements as of that closing date were used for the purpose of consolidation. Necessary consolidation adjustments have been made to account for significant events, if any, that took place between December 31 and March 31.
   For 9 consolidated subsidiaries whose closing dates of account is December 31, the Company used financial reports based on a provisional closing conducted as of the closing date of the consolidated financial statements.
   From the current consolidated fiscal year, consolidated subsidiary AJIMEX BV changed its closing date to March 31 from December 31.
3. 
   The name of a major company which closes the books on December 31 is as follows: NYK LINE (CHINA) CO., LTD.

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