Message from the President

Takanori Ono, President

Takanori Ono, President

We, Sumitomo Warehouse Group, have provided our customers with high-quality services for their satisfaction through our business since our incorporation in 1899. We would like to hereby express our deep gratitude for your generous support and cooperation.

With regard to our group's results for the fiscal year ended March 31, 2018, the warehousing business put in a strong performance, primarily due to the archives business and household effects storage. In the international transportation business, revenue increased due to the increase in handling volumes for international multimodal transportation and air cargo transportation in addition to contribution from overseas subsidiaries. The growth in domestic transportation related to e-commerce led to rising revenue from the land transportation business. In the businesses other than the logistics business, transportation volumes for timber products and for containers rose in the marine transportation business, while rental income from facilities that were completed in the previous fiscal year contributed in revenue from the real estate business.
As a result of the above, our group's results for the fiscal year were as follows: consolidated operating revenue of ¥175,756 million (up 6.4% year-on-year), consolidated operating income of ¥10,302 million (up 12.1% year-on-year), ordinary income of ¥12,684 million (up 12.0% year-on-year) and profit attributable to owners of parent of ¥8,358 million (up 7.1% year-on- year).

In addition to strong business performance, there were increases in dividends received and some extraordinary income was recorded. Accordingly, the annual dividend of the fiscal year has been raised by ¥1, to ¥16.5 per share (¥8 per share at the interim, combined with a year-end dividend of ¥8.5), recorded an increase in five successive years.

The recent Japanese economy is expected to mildly recover amid the improved employment and income situations in Japan. However, international economic and political trends are highly unpredictable, and we are concerned that these factors would impact the economy in Japan.

Under these circumstances, our group has developed "Challenge 120," a three-year medium-term business plan beginning in fiscal year 2017 and ending in fiscal year 2019, which marks the 120th year of our foundation. With an operating income of ¥12 billion as the goal for 2019, we aim to sustainably grow and enhance our enterprise value and focus on further increasing returns to our shareholders, while simultaneously upholding our financial stability and taking on new challenges to enhance our business bases for further advancements.

I would like to reiterate my sincere thanks to shareholders and investors for their understanding, and I look forward to your continued support.

President Takanori Ono

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