Nippon Yusen Kabushiki Kaisha (STU:NYKA)

€ 29.37 -0.28 (-0.94%) Market Cap: 13.62 Bil Enterprise Value: 18.07 Bil PE Ratio: 10.65 PB Ratio: 0.86 GF Score: 82/100

Q1 2021 Nippon Yusen KK Earnings Call Transcript

Aug 05, 2020 / 06:00AM GMT

Transcript

Hitoshi Nagasawa

Nippon Yusen Kabushiki Kaisha - President, Executive Chief of ESG Management, CEO & Representative Director

Hello. I am NYK Line President, Hitoshi Nagasawa. Thank you for attending today's presentation of the financial results for the first quarter of the fiscal year ending March 31, 2021. Without keeping you waiting any longer, I will now provide an overview of the quarter.

When announcing the full year results for last year on May 25, I also provided a forecast for this year. At that time, I stated that COVID-19 would have an extremely large impact this year, and I will now touch briefly on the situation since then. First, during the pandemic, we are, of course, placing top priority on securing the safety of the group employees, seafarers and other workers. There have been some cases of infections, but I understand that it has been limited to the minimum extent possible.

Concerning the problem of crew changes, which has been raised as an issue by many people, the impact has been larger than expected. I will explain more about this later. The second major impact

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