NS United Kaiun Kaisha, Ltd. announced consolidated earnings results for the nine months ended December 31, 2012. For the quarter, revenues were JPY 98,363 million, operating income was JPY 282 million, ordinary income was JPY 582 million and net loss was JPY 549 million or JPY 2.38 per share against revenues of JPY 100,486 million, operating income of JPY 763 million, ordinary loss of JPY 947 million and net loss of JPY 1,342 million or JPY 5.82 per share for the same period a year ago.

For the fiscal year ending March 31, 2013, the company expects revenues of JPY 130,000 million, operating loss of JPY 400 million, ordinary loss of JPY 200 million and net loss of JPY 3,800 million or JPY 16.47 per share against previous guidance of revenues of JPY 136,000 million, operating income of JPY 1,100 million, ordinary loss of JPY 200 million and nil net loss. Reason for the guidance revision: As to the surrounding environment, there is anticipation for further weakening of Yen and decline in supply pressure of tonnage as completion of new vessels passes its peak. However, the company is yet to see the bulk shipping market recover and conditions remain severe. Under such circumstances, the company has appropriated an extraordinary loss of approximately JPY 2,200 million in the third quarter for early cancellation of time charters agreed at high rates as announced on December 26, 2012, a measure to improve future profitability. The company project for further measures to reinforce financial structure during this fourth quarter and the costs of implementing such measures; an estimated amount of JPY 2,400 million has incorporated in the above forecast as extraordinary loss. With the effect of above implementation incorporated into the consolidated third quarter operating results, the consolidated operating forecast for the fiscal year ending March 2013, announced on October 31, 2012, has been revised.