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Consolidated Results H1 FY2025 Oct. 31, 2025 Securities Code 9301 Mitsubishi Logistics
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Contents Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. 2H1 FY2025 Consolidated Results Ⅰ. H1 FY2025 Consolidated Results P3 Ⅱ. FY2025 Business Forecast P10 Ⅲ. Progress of Business Plan P15 Ⅳ. Appendix P20
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3Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Summary of Consolidated Results for H1 FY2025 H1 Results H1 Forecast Comparison Full -year Forecast Progress Revenue 136.1 140 -3％ 29 47% Operating Profit 7.5 9.4 -20% 20 38% Business Profit* 8.7 10.4 -16% 22.1 40% Ordinary Profit 10.3 12 -14% 24.4 42% Net Profit 32.8 32 ＋3% 40.4 81% ・Warehousing and Distribution Business ・Shifted from a region -based to a category -based sales structure. Promoting proposal -driven sales of end -to-end logistics. ・Revenue and profit below forecast, driven by U.S. trade policy and China’s economic slowdown ・International Transportation Business ・Covered lower ocean freight rates with increased volume. ・Port and Harbor Transportation Business ・Container handling volume increased due to route reorganization. Logistics ・Asset -turnover business progressing as planned. Real Estate H1 Results Revised Forecast for FY2025 • Revised H2 forecast downward, mainly based on overseas subsidiaries. Revenue to Ordinary Profit Initial Forecast Revised Forecast Comparison Revenue 290 280 -10 Operating Profit 20 16 -4 Business Profit 22.1 18.3 -3.8 Ordinary Profit 24.4 20.6 -3.8 Net Profit 40.4 45 +4.6 Net Profit • Revised H2 forecast upward, due to higher gains on the sale of investment securities. （unit：billion yen） *Business Profit = Operating Profit + Equity-method Investment gains/losses + Asset Turnover Business gains/losses Future Actions • The recovery of overseas subsidiaries’ performance is positioned as the most critical challenge for this fiscal year, and we will address it through a company-wide support structure.
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4Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅰ. H1 FY2025 Consolidated Results （Unit：Billion yen） H1 FY 2024 H1 FY 2025 YoY Forecast H1 FY2025* Progress Revenue 134.8 136.1 +1.2 +1% 140.0 97％ Operating Profit 8.9 7.5 -1.4 -16% 9.4 80％ Business Profit 11.0 8.7 -2.2 -21% 10.4 84％ Ordinary Profit 11.6 10.3 -1.2 -11% 12.0 86％ Profit Attributable to Owners of Parent 16.3 32.8 +16.4 +101% 32.0 103％ *Announced on April 30, 2025 Consolidated Operating Results (＋) ･Sale of Investment Securities ＋¥25.2bn H1 FY2024 ¥10.9bn H1 FY2025 ¥36.1bn (ー) ･Disposal of Non-current Assets -¥1.4bn H1 FY2024 ¥1.4bn (ー) ･Operating Profit -¥1.4bn ･Foreign Exchange -¥0.7bn (+) ･Equity in Net Income of Affiliates ＋¥0.6bn ･Dividend Income＋¥0.3bn
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5Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅰ. H1 FY2025 Consolidated Results （Unit：Billion yen） H1 FY 2024 H1 FY 2025 YoY Revenue 134.8 136.1 +1.2 +1% Logistics 117.8 118.9 +1.0 +1% Warehouse 36.2 36.8 +0.5 +2% Land Transportation 27.3 27.0 -0.2 -1% International Transportation 40.5 39.8 -0.7 -2% Port and Harbor Transportation 11.2 12.8 +1.5 +14% Others 2.4 2.3 -0.1 -8% Real Estate 17.6 17.9 +2.0 +1% Real Estate 15.9 16.0 +0 +0% Others 1.6 1.9 +2.0 +13% Internal Transactions -0.6 -0.7 -0 － Operating Profit 8.9 7.5 -1.4 -16% Logistics 7.0 6.2 -0.7 -11% Real Estate 5.4 5.5 +0.03 +1% Corporate/Elimination -3.5 -4.2 -0.7 － Business Profit 11.0 8.7 -2.2 -21% Logistics 7.6 7.4 -0.1 -2% Real Estate 6.9 5.5 -1.3 -20% Segment Results Logistics Real Estate Revenue Increase Increase Operating Profit Decrease Increase Business Profit Decrease Decrease Logistics ・Parent company performance was in line with FY2024. ・Subsidiaries in U.S. and China performed poorly. ・Vietnam equity affiliate on recovery path. Real Estate ・Performance was in line with FY2024. ・Profit down due to prior-year property sales rebound.
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6Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅰ. H1 FY2025 Consolidated Results Real Estate +0.2 Main Factors Behind Revenue Fluctuations H1 FY2025 （Results） H1 FY2025 （Results） +0.0 +0.2134.8 +0.2 +1.5-0.7 Logistics +1.0 (＋) ･Increased handling of auto parts and apparel (ー) ･Decreased in handling by Cavalier Logistics (mainly pharmaceuticals, building materials) and the Chinese subsidiary (mainly LCD -related components, home appliances). (＋) ･Full-year contribution from the facility launched in the previous FY, “Kobe Suma Sea World” (ー) ･Increase in office building vacancy rate (＋) ･Increased container handling mainly in the Tokyo area Warehouse/ Land Transportation Real Estate Leasing Other Real Estate (ー) ･Decreased in revenue due to lower ocean freight rates and yen appreciation (＋) ･Increased in handling by subsidiaries in Europe and the U.S. (mainly office equipment). (＋) ･ Sale of rental apartment building “Dear Crest Oimachi” as part of asset- turnover business International Transportation Port and Harbor Transportation （unit：billion yen） 136.1
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7Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅰ. H1 FY2025 Consolidated Results Equity in Net Income of Affiliate Asset Turnover Business Income -0.8 Operating Profit -1.4 H1 FY2024 （Results） H1 FY2025 （Results） +0.6 -1.4 11.0 8.7 -0.7 -0.7 +0.0 Logistics Real Estate Corporate/Elimination Logistics Real Estate (＋) Increased in equity-method investment profit ITL Corporation (Vietnam) ･Improvement in business performance ･Reduction in goodwill amortization burden (ー) Asset turnover business ･Decrease in gains on disposal of fixed assets. (sale of “S-Gate Nihonbashi- Honcho” in the previous term) (＋) Asset turnover business ･Increase in dividends from investments in SPCs. (ー) Cavalier Logistics group ･Reduced cargo handling due to U.S. government policy changes ･Delayed cargo handling at newly opened warehouses Chinese subsidiary ・Weaker performance due to China’s economic slowdown (＋) ･Full-year contribution from “Kobe Suma Sea World” operations (ー) ･Increase in depreciation (ー) ･Increased in personnel expenses due to enhanced corporate functions to achieve the growth strategy in the business plan. ･Increased in business tax due to the sale of investment securities Main Factors Behind Business Profit Fluctuations （unit：billion yen）
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8Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅰ. H1 FY2025 Consolidated Results Consolidated Financial Position （Unit：Billion yen） End of FY 2024 End of FY 2025 YoY Total Assets 626.0 622.4 -3.5（-1％） Real Estate Held for Sale 3.9 13.0 ＋9.0 Investment Securities 163.7 147.1 -16.6 （Cross -shareholdings ） (115.5) (96.0) (-19.4) Total Liabilities 246.7 244.4 -2.3（-1％） Deferred Tax Liabilities 46.4 40.0 -6.4 Net Assets 379.2 378.0 -1.2（-0.3％） Retained Earnings 276.8 295.4 -18.6 Net Unrealized Holding Gains on Securities 69.7 57.3 -12.4 Foreign Currency Transaction Adjustment 10.9 5.5 -5.4 Equity Ratio 59.8% 60.0% +0.2 Sale of Cross-shareholdings Asset Turnover Business
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9Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅰ. H1 FY2025 Consolidated Results Consolidated Cash Flows 61.0 63.0 Balance at the end of FY2024 Income Taxes : -14.1 Increase of Real Estate Held for Sale (Mainly in Asset Turnover Business) : -9.0 Depreciation : +8.7 Interest and Dividends Received : +4.5 Sale of Cross-shareholdings : ＋36.6 Purchase of Fixed Assets : -11.8 Purchase of Investment Securities (Mainly in Asset Turnover Business) : -4.1 Share Buybacks : -10.2 Dividend Payment : -5.7 Operating CF Investing CF Finance CF Exchange Rate Chande ＋20.6△2.3 △15.2 △0.9 Balance at the end of H1 FY2025 （unit：billion yen）
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10Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅱ. FY2025 Business Forecast Forecast Revision （Unit：Billion yen） Initial Forecast for FY2025 Revised Forecast for FY2025 Comparison H1 Forecast H2 Forecast Full-year Forecast H1 Results H2 Forecast Full-year Forecast H1 H2 Full-year Revenue 140.0 150.0 290.0 136.1 143.8 280.0 -3.8 -6.1 -10.0 Operating Profit 9.4 10.6 20.0 7.5 8.4 16.0 -1.8 -2.1 -4.0 Business Profit 10.4 11.7 22.1 8.7 9.5 18.3 -1.6 -2.1 -3.8 Ordinary Profit 12.0 12.4 24.4 10.3 10.2 20.6 -1.6 -2.1 -3.8 Profit Attributable to Owners of Parent 32.0 8.4 40.4 32.8 12.1 45.0 ＋0.8 +3.7 +4.6
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11Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅱ. FY2025 Business Forecast Forecast Revision （Revenue ） Initial forecast Revised forecast Logistics Real Estate 290.0 -4.1 -6.2 +0.2 ＋0.0 280.0 H1 ･Increase in office building tenant management income H2 ･In line with initial forecast Cavalier Logistics group ･Reduced cargo handling due to U.S. government policy changes ･Delayed cargo handling at newly opened warehouses Chinese subsidiary ･Weaker performance due to China’s economic slowdown MLC Warehouse/Land Transportation business ･Sales driven growth below expectations MLC International Transportation business ･H1 Ocean freight rates exceeded expectations ･H2 Ocean freight rates expected to decline H1 -3.8 H2 -6.1 （unit：billion yen） Initial Forecast ¥255.4bn → Revised Forecast ¥245.0bn Internal Transactions Initial Forecast -¥1.6bn → Revised Forecast -¥1.4bn Initial Forecast ¥36.2bn → Revised Forecast ¥36.4bn
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12Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅱ. FY2025 Business Forecast Forecast Revision （Business Profit ） ･Increased in personnel expenses due to enhanced corporate functions to achieve the growth strategy in the business plan. ･Increased in business tax due to the sale of investment securities -1.7 -1.3 +0.3 -0.0 Corporate/Elimination -0.2 -0.7 H1 -1.6 H2 -2.1 22.1 18.3 H1 ･Decrease in repair expenses H2 ･In line with initial forecast Logistics Real Estate （unit：billion yen） Initial forecast Revised forecast Initial Forecast ¥10.7bn → Revised Forecast ¥11.0bn Initial Forecast ¥19.0bn → Revised Forecast ¥15.9bn Initial Forecast -¥7.6bn → Revised Forecast -¥8.6bn Cavalier Logistics group ･Reduced cargo handling due to U.S. government policy changes ･Delayed cargo handling at newly opened warehouses Chinese subsidiary ･Weaker performance due to China’s economic slowdown MLC Warehouse/Land Transportation business ･Sales driven growth below expectations MLC International Transportation business (＋) H1 Ocean freight rates exceeded expectations (ー) H2 Ocean freight rates expected to decline MLC Port and Harbor Transportation business (＋) Cost reduction via efficiency
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13Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅱ. FY2025 Business Forecast Comparison between Revised Forecast and FY2024 Results （Unit：Billion yen） FY2024 Revised Forecast for FY2025 Comparison H1 Results H2 Results Full-year Results H1 Results H2 Forecast Full-year Forecast H1 H2 Full-year Revenue 134.8 149.1 284.0 136.1 143.8 280.0 +1.2 -5.2 -4.0 Operating Profit 8.9 11.3 20.3 7.5 8.4 16.0 -1.4 -2.8 -4.3 Business Profit 11.0 5.1 16.1 8.7 9.5 18.3 -2.2 +4.3 +2.1 Ordinary Profit 11.6 6.9 18.6 10.3 10.2 20.6 -1.2 +3.2 +1.9 Profit Attributable to Owners of Parent 16.3 15.5 31.8 32.8 12.1 45.0 ＋16.4 -3.3 +13.1
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14Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅱ. FY2025 Business Forecast The Impact of U.S. New Government （Full -year ） The situation surrounding the logistics industry Ocean freight: ・U.S.-bound ocean freight rates experienced a temporary spike in the H1 but declined thereafter. ・Compared to the previous year, Q2 recorded sharper decline than Q1, and stagnation is expected in the H2. Pharmaceutical Companies: ・Due to U.S. reshoring policies(bringing manufacturing back domestically), pharmaceutical companies have announced investments in manufacturing sites and research facilities within the U.S.( Merck, Roche, Novartis,etc.) . ・It is necessary to closely observe trends in supply chain restructuring within the pharmaceutical industry, particularly those driven by drug price revisions. Impact on Our Performance (Current Status) ・Not significant in Q1, but became evident from Q2 onward, particularly in U.S. operations. ・The increase in tariffs has driven cost-reduction initiatives within the U.S., and heightened price competition is anticipated in the future.
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15Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅲ. Progress of Business Plan Progress of FY2025 Investment Plan DX Investment ¥7.0bn Facility Upgrade Investment ¥13.0bn Growth Investment（Real Estate） ¥28.6bn Growth Investment（Logistics） ¥25.0bn Initial Plan ¥73.6bn H1 Progress ¥30.9bn Growth Investment （Logistics） ¥2.8bn （11％ of target achieved） ・New Warehouse （Malaysia） ・Warehouse upgrade for new client（Domestic） Growth Investment （Real Estate） ¥19.6bn （69％ of target achieved） ・Asset turnover business （¥15.7bn） ・Rental facilities, Condominiums（¥3.9bn） Facility Upgrade Investment ¥6.1bn （47％ of target achieved） ・Logistics ¥1.8bn Real Estate ¥4.1bn Others ¥0.2bn （Environmental Investment ¥3.7bn） DX Investment ¥2.4bn （34％ of target achieved） ・DX ¥0.5bn ・IT ¥1.9bn 42％ of target achieved
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16Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅲ. Progress of Business Plan Up to FY2024 FY2025 Total 1Q 2Q Number of Projects Investment Amount Number of Projects Investment Amount Number of Projects Investment Amount Number of Projects Investment Amount Domestic Logistics Facilities 2 ¥8bn 2 ¥8bn Commercial Facilities /Hotels 1 ¥4bn 1 ¥4bn Housing 3 ¥2.5bn 4 ¥9bn 7 ¥11.5bn Overseas Logistics Facilities 1 ¥1.5bn 1 ¥1.5bn Housing 1 ¥4.4bn 1 ¥4.4bn Total 5 ¥10.5bn 2 ¥5.5bn 5 ¥13.4bn 12 ¥29.4bn Progress of Initiatives A sset Turnover Business Progressed in Q2 FY2025 ・Entered the rental apartment business in the U.S. -The company’s first overseas residential project. -Joint Venture with Marubeni America Corporation through our subsidiary in U.S. ・4 rental apartment projects in Japan ※Number of projects and investment amount are contract-based. Each project is scheduled to be sold after a certain period of operation following completion. Rental Multifamily Residential (Texas,U.S.)
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17Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅲ. Progress of Business Plan Entering the Grid Storage Battery Business as a New Venture We will start operating sequentially at seven locations in Japan from FY2027. １．Background of Entry（Social & Business Environment, Investment Significance） (1)Greater need for power supply-demand balancing due to increased renewable energy (2)Our expertise in power-related operations (3)Long-term effective utilization of onward assets, aligning with our purpose as a social infrastructure initiative ２. Investment Amount and Income and Expenditure Forecast (1)Investing approx. ¥20 billion in Saitama and Kanagawa Prefectures firstly. (2)Initial year (FY2027) Revenue: Approx. ¥0.2 billion ３. Schedule Plans to launch operations in five other prefectures by 2030 Project revenue for FY2030: Approx. ¥10 billion from 7 locations.
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18Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅲ. Progress of Business Plan 12.0 17.0 32.5 36.6 FY2022 FY2023 FY2024 FY2025 FY2026 118.2 168.6 115.5 96.0 33.0% 41.0% 30.5% 25.4％ FY2022 FY2023 FY2024 H1 FY2025 FY2025 FY2026 Reduction of Cross -shareholdings ◼ Trend in Cross -shareholdings Sale Amounts ◼ Value of Retained Cross -shareholdings and Their Percentage of Net Assets Cross-shareholdings as a Percentage of Net AssetsRetained Value Less than 20% We will continually verify the validity of its holdings, accelerate reductions in cross -shareholdings and utilize the proceeds from the sales for growth investment and shareholder returns . Plan : or more ¥45bn Expected Gain : About ¥44bn (Sale Amount in H1: ¥36.6bn) Less than 20% by the end of FY2025 （unit：billion yen）
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19Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅲ. Progress of Business Plan Shareholder Returns ◼ Share buybacks (bn yen) *1-for-5 stock split in Nov. 2024; historical DPS adjusted accordingly ◼ Introduction of shareholder benefit program Objective: To enhance the attractiveness of stock investment and encourage long-term shareholding Benefit details: Electronic money is granted based on the number of shares held and the continuous shareholding period number of shares continuous shareholding period Over 1 year and under 3 years* Over 3 years 300 shares or more but less than 1,500 Valued at ¥1,000 Valued at ¥1,500 1,500 shares or more Valued at ¥6,000 Valued at ¥9,000 *FY2025 only: benefits based on the number of shares, not the continuous shareholding period FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 (Forecast) Dividend payout ratio 43.7% 13.0% 36.5% 26.3% 33.4% 37.2% 28.1% DOE (dividend on equity) 1.8% 1.7% 2.0% 2.1% 2.4% 3.0% 3.4% Total dividends (bn yen) 5.2 5.0 6.5 7.1 9.2 11.7 12.5 18 18 12 12 16 18 24 32 36◼ Trend in Dividends Per Share (yen)* Total shareholder return ratio 85.7% 38.4% 64.3% 62.8% 69.0% 99.5% 72.2% 5 10 5 10 10 20 20
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20Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅳ. Appendix Consolidated Operating Results （Quarterly Information ） 63.2 62.5 66.7 62.1 65.9 69.0 79.3 69.8 68.5 67.5 72.0 72.0 4.9 5.0 5.8 3.1 4.0 4.9 7.1 4.1 3.9 3.5 4.3 4.3 5.2 5.2 5.9 3.4 5.6 5.3 -5 5.7 4.4 4.3 4.8 4.8 -1.0 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Revenue(Left) Operating Profit(Right) Business Profit(Right) Condominium Sales Forecast Operating Profit Business Profit FY2023 ¥18.9bn ¥19.9bn FY2024 ¥20.3bn ¥16.1bn FY2025 ¥20bn → ¥16bn ¥22.1bn → ¥18.3bn Full Goodwill Impairment (ITL Corporation) Office Building Sales （unit：billion yen）
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21Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅳ. Appendix Operating Revenue by Year 93.0 95.2 101.6 106.7 108.6 104.1 110.5 115.7 118.4 123.5 63.8 49.1 44.1 50.0 53.0 50.1 46.5 73.5 116.2 66.8 82.5 39.8 21.1 22.9 23.6 23.8 23.2 21.3 22.9 23.3 23.9 22.9 12.8 39.8 42.8 36.0 38.6 41.1 36.1 43.6 38.1 38.6 47.7 17.9 206.8 208.7 215.4 227.1 229.0 213.7 257.2 300.5 254.5 284.0 136.1 0.0 50.0 100.0 150.0 200.0 250.0 300.0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025-H1 Warehouse/Land Transportation International Transportation Port and Harbor Transportation Others Real Estate （unit：billion yen）
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22Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅳ. Appendix 0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025-H1 Revenue Operating Profit Business Profit Ordinary Profit Profit before Income Taxes Profit trends by year Sale of cross-shareholdings The surge in ocean freight rates (due to COVID-19) Land Transfer Profit in Nagoya(SCMAGLEV) （unit：billion yen）
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23Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅳ. Appendix Cash flow trends by year （unit：billion yen） 45.6 36.9 39.5 42.9 40.5 61.3 52.5 62.2 58.4 61.0 63.0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 -60.0 -40.0 -20.0 0.0 20.0 40.0 60.0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025-H1 Operating CF Investong CF Financing CF Cash at end of year Cash flows from Operating Activities 17.2 21.4 21.4 23.3 17.6 40.1 36.2 40.4 41.7 29.6 -2.3 Cash flows from Investing Activities -7.0 -22.2 -22.2 -31.7 -18.0 -14.0 -29.2 -14.3 -31.4 15.5 20.6 Acquisition and Sale of Fixed Assets -9.6 -23.1 -22.7 -19.6 -23.4 -20.0 -35.8 -18.9 -18.1 -5.6 -11.3 Acquisition and Sale of Investment Securities 2.7 0.0 0.3 -12.7 5.1 6.0 6.5 2.3 7.2 21.1 32.5 Cash flows from Financing Activities -7.9 -7.8 3.4 12.0 -2.3 -5.2 -16.5 -17.0 -14.8 -44.1 -15.2 Borrowing and Repayment of Loans 1.5 -5.3 -9.6 21.7 -5.6 16.3 0.4 2.2 -10.2 0.0 2.2 Issuance and Redemption of Corporate Bonds -7.0 0.0 15.8 -7.0 14.8 -5.0 -5.0 0.0 14.8 -8.0 0.0 Dividends Paid/Treasury Stock Acquisition -2.1 -2.1 -2.6 -2.5 -10.2 -15.1 -10.6 -16.5 -17.7 -31.2 -16.0 Cash and Cash Equivalents at end of year 45.6 36.9 39.5 42.9 40.5 61.3 52.5 62.2 58.4 61.0 63.0
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24Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅳ. Appendix Warehouse storage area(Consolidated) Cargo turnover rate(Non -consolidated) Q u a r t e r l yt o t a l m o n t h- e n d w a r e h o u s e s t o r a g e b a l a n c e Warehouse storage fee(Consolidated) 0% 10% 20% 30% 40% 50% 60% 70% 80% 1,500 1,550 1,600 1,650 1,700 1,750 1,800 Warehouse storage area Cargo turnover rate (1000㎡) 6.0 6.5 7.0 7.5 8.0 8.5 9.0 2,000 2,100 2,200 2,300 2,400 2,500 2,600 2,700 2,800 2,900 3,000 Warehouse storage balance Warehouse storage fee (1000tons) (Bn yen) 2022 2023 2024 2025 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Warehouse storage fee(Bn yen) 7.1 7.5 7.6 7.4 7.7 8.2 8.2 8.4 8.3 8.7 8.1 7.8 8.1 8.2 Warehouse storage area(1,000㎡) 1,647 1,657 1,703 1,701 1,732 1,730 1,729 1,770 1,758 1,748 1,753 1,762 1,756 1,735 Quarterly total month-end warehouse storage balance(1,000tons) 2,674 2,763 2,804 2,839 2,891 2,779 2,853 2,696 2,597 2,703 2,679 2,657 2,674 2,749 Cargo turnover rate 35.8% 35.1% 35.6% 33.0% 34.5% 33.7% 35.7% 30.2% 33.2% 33.9% 33.6% 31.8% 34.0% 34.3%
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25Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅳ. Appendix Warehouse inbound/outbound volume Warehouse handling fee(Consolidated) Land transportation volume Land transportation fee(Consolidated) 0 200 400 600 800 1,000 1,200 1,400 4.0 4.5 5.0 5.5 6.0 6.5 Inbound Outbound Handling fee (1000tons) (Bn yen) 3,000 3,200 3,400 3,600 3,800 4,000 4,200 4,400 4,600 4,800 5,000 10.0 11.0 12.0 13.0 14.0 15.0 Land transportation volume Land transportation fee (Bn yen)(1000tons) 2022 2023 2024 2025 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Cargo handling fee(Bn yen) 5.1 5.2 5.5 5.1 5.1 5.3 5.5 5.2 5.3 5.7 5.6 6.1 5.4 5.5 Warehouse inbound volume(1,000tons) 1,172 1,137 1,228 1,122 1,098 1,072 1,071 976 1,027 1,042 994 989 995 973 Warehouse outbound volume(1,001tons) 1,160 1,105 1,233 1,105 1,067 1,050 1,124 1,006 1,048 1,012 1,024 982 984 964 Land transportation fee(Bn yen) 12.8 12.9 13.5 12.5 12.5 12.8 13.6 12.4 13.3 13.9 14.6 13.2 13.6 13.4 Land transportation volume(1,000tons) 4,607 4,359 4,323 4,302 4,494 4,366 4,583 4,156 4,224 4,229 4,172 3,851 3,938 4,061
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26Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅳ. Appendix O n b o a r d h a n d l i n g v o l u m e P o r t a n d h a r b o r o p e r a t i o n f e e ( N o n- c o ns o l i d a t e d ) I n t e r n a t i o na l t r a n s p o r t a t i o n v o l u m e I n t e r n a t i o n a l t r a n s p o r t a t i o n f e e ( N o n- c o n s o l i d a t e d ) 3 3.5 4 4.5 5 0 50000 100000 150000 200000 250000 300000 350000 400000 450000 500000 Tokyo Yokohama Nagoya Osaka Kobe Fukuoka Operation fee (Bn yen)(TEU) 5.0 10.0 15.0 20.0 100 150 200 250 300 350 Export Import International transportation fee (Bn yen)(1,000tons) 2022 2023 2024 2025 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Port and harbor operation fee(Bn yen) 4.2 4.1 4.0 3.9 4.3 4.2 4.3 4.1 3.9 3.9 4.2 4.0 4.6 4.5 Onboard handling volume(TEU) 404,248 405,921 403,987 395,012 423,965 427,176 455,375 419,822 419,750 426,709 453,289 417,882 493,062 476,917 International transportation fee(Bn yen) 17.9 19.1 16.2 10.6 7.6 6.5 6.5 6.9 8.2 9.6 9.3 9.0 8.7 8.0 Export transportation volume(1,000tons) 320 303 295 303 273 266 282 270 290 285 285 284 285 287 Import transportation volume(1,000tons) 193 172 180 168 179 168 169 183 184 171 161 164 200 182
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27Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅳ. Appendix Import transportation volume by origin(Non -consolidated) 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 Europe North America China Asia Others 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 Europe North America China Asia Others (Ton) (Ton) Export transportation volume by origin(Non -consolidated)
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28Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅳ. Appendix Rental building vacancy rate 1.4 1.1 0.9 1.0 0.9 1.1 1.1 1.2 1.4 1.2 1.3 1.5 2.3 1.6 0.7 0.7 0.8 1.3 1.6 2.0 2.0 1.8 2.1 3.0 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.6 0.5 0.5 0.4 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0% Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Total 1.4 1.1 0.9 1.0 0.9 1.1 1.1 1.2 1.4 1.2 1.3 1.5 Office 2.3 1.6 0.7 0.7 0.8 1.3 1.6 2.0 2.0 1.8 2.1 3.0 Commercial Property 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.6 0.5 0.5 0.4 Total Office Commercial Property Rental building area（excluding warehouses） (1,000㎡） Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Total 913 915 915 917 917 917 1,035 1,028 1,033 1,032 1,034 1,034 Office 286 286 286 286 286 286 283 283 283 282 282 282 Commercial Property 377 380 380 380 380 380 380 373 380 380 380 380
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29Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅳ. Appendix Annual performance 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Revenue 206.8 208.7 215.4 227.1 229.0 213.7 257.2 300.5 254.5 284.0 Logistics 169.0 167.9 181.2 190.4 189.7 179.2 215.2 263.8 217.4 237.6 Warehousing/Land Transportation 93.0 95.2 101.6 106.7 108.6 104.1 110.5 115.7 118.4 123.5 International Transportation 49.1 44.1 50.0 53.0 50.1 46.5 73.5 116.2 66.8 82.5 Port and Harbor Transportation 21.1 22.9 23.6 23.8 23.2 21.3 22.9 23.3 23.9 22.9 Other 5.6 5.4 5.9 6.7 7.6 7.2 8.1 8.5 8.1 8.5 Real Estate 39.8 42.8 36.0 38.6 41.1 36.1 43.6 38.1 38.6 47.7 Real Estate Leasing 30.9 30.3 29.2 29.4 28.7 28.4 29.7 30.5 31.2 32.1 Other 8.9 12.5 6.7 9.2 12.4 7.7 13.9 7.6 7.3 15.6 Internal Transaction -2.0 -2.0 -1.8 -1.9 -1.8 -1.6 -1.6 -1.5 -1.5 -1.3 Operating Profit 11.3 12.7 12.4 12.6 12.1 11.7 18.1 23.0 18.9 20.3 Logistics 5.5 6.6 7.6 7.6 7.1 7.2 13.7 18.7 14.5 13.8 Real Estate 10.6 11.7 10.1 10.7 10.8 10.0 10.3 10.1 10.8 13.6 Corporate/Elimination -4.8 -5.6 -5.4 -5.7 -5.8 -5.5 -5.8 -5.8 -6.5 -7.2 Non-Operation Income/Loss 2.7 3.3 3.7 4.6 4.6 4.2 5.0 7.0 5.4 -1.6 Interest and Dividend Income 2.3 2.2 2.8 3.7 3.8 3.3 3.9 5.7 4.8 4.5 Interest Expenses -0.6 -0.6 -0.6 -0.4 -0.5 -0.5 -0.5 -0.5 -0.5 -0.8 Equity in Earning of Affiliates 0.5 0.5 1.4 1.5 1.4 1.4 0.7 1.4 0.9 -5.5 Other 0.5 1.1 0.0 -0.1 0.0 0.0 0.8 0.4 0.2 0.2 Business Profit 11.8 13.2 13.8 14.1 13.6 13.1 18.8 24.4 19.9 16.1 Ordinary Profit 14.0 16.0 16.1 17.3 16.8 16.0 23.1 30.0 24.3 18.6 Extraordinary Income/Loss 0.6 -0.2 -0.7 -0.5 0.0 40.0 2.7 10.9 14.8 30.6 Gain/Loss on disposal of non-current assets -0.7 -0.6 -0.8 -0.7 -1.4 17.8 -0.5 1.9 -0.6 0.6 Gain/Loss on sale of investment securities 2.3 0.0 0.3 0.9 3.2 4.3 3.4 9.5 15.3 29.9 Other -1.0 0.3 -0.2 -0.8 -1.9 17.9 -0.1 -0.5 0.1 0.0 Profit before Income Taxes 14.6 15.7 15.3 16.7 16.7 56.1 25.9 40.9 39.1 49.2 Profit Attributable to owner of parent 9.3 10.6 10.5 11.5 11.8 39.1 17.8 27.2 27.7 31.8 （unit：billion yen）
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30Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. H1 FY2025 Consolidated Results Ⅳ. Appendix Balance sheet trends and Indicators trends 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Total Assets 413.2 435.3 462.0 482.5 468.2 535.7 562.1 573.6 679.1 626.0 Logistics 190.3 200.6 209.9 229.9 243.7 249.4 260.4 278.3 325.4 322.6 Real Estate 106.2 113.1 111.3 113.8 113.7 137.8 152.8 151.6 158.5 158.7 Corporate Expense 116.7 121.5 140.7 138.8 110.7 148.4 148.9 143.7 195.0 144.6 Total Liabilities 155.7 158.4 167.4 183.4 181.8 208.9 214.4 219.2 267.4 246.7 Interest-bearing Debt 71.4 65.9 72.2 86.9 96.0 109.1 104.7 107.7 119.3 112.4 Retirement Benefit Liabilities 13.5 12.2 10.9 10.0 10.2 8.2 7.8 8.4 7.6 7.2 Deferred Tax Liabilities 14.8 20.4 23.4 21.8 14.9 31.8 37.2 36.3 61.0 46.4 Other 56.0 59.9 60.9 64.7 60.7 59.8 64.7 66.8 79.5 80.7 Net Assets 257.5 276.8 294.5 299.1 286.3 326.8 347.7 354.4 411.7 379.2 Equity 254.9 274.2 291.7 296.1 283.3 323.5 344.0 350.7 405.4 374.6 Unrealized gains on other securities 2.5 2.6 2.8 2.9 3.0 3.2 3.6 3.6 6.2 4.6 EBITDA(Bn yen) 25.1 25.6 25.1 25.6 26.4 26.5 33.6 38.7 34.9 38.0 Operationg Profit Margin 5.5% 6.1% 5.8% 5.6% 5.3% 5.5% 7.1% 7.7% 7.4% 7.1% Total Asset Turnover 0.50 0.48 0.47 0.47 0.49 0.40 0.46 0.52 0.37 0.45 BPS(yen) 582.03 626.11 666.14 676.24 659.64 782.93 847.77 897.80 1,069.74 1,040.59 EPS(yen) 21.34 24.35 24.01 26.40 27.46 92.46 43.89 68.40 71.89 85.92 Equity Ratio 61.7% 63.0% 63.1% 61.4% 60.5% 60.4% 61.2% 61.1% 59.7% 59.8% ROE 3.6% 4.0% 3.7% 3.9% 4.1% 12.9% 5.4% 7.8% 7.3% 8.2% ROA 2.2% 2.5% 2.3% 2.4% 2.5% 7.8% 3.3% 4.8% 4.4% 4.9% DPS(yen) 4.8 5.6 5.6 9 12 12 16 18 24 32 Dividend Payout Ratio 22.5% 23.0% 23.3% 34.1% 43.7% 13.0% 36.5% 26.3% 33.4% 37.2% DOE 0.8% 0.9% 0.9% 1.3% 1.8% 1.7% 2.0% 2.1% 2.4% 3.0% Dividends Paid(Bn yen) 21 25 25 39 52 50 65 71 92 117 Treasury Stock Acquisition Cost(Bn yen) 50 100 50 100 100 200 Total Payout Ratio 22.5% 23.0% 23.3% 34.1% 85.7% 38.4% 64.3% 62.8% 69.0% 99.5% （unit：billion yen）
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Copyright 2025 Mitsubishi Logistics Corporation All Rights Reserved. Forecasts in this presentation are based on the information available to the Company’s management as of the date of release and certain assumptions judged rational. Accordingly, there might be cases in which actual results differ from forecasts in this presentation.