26/32 - Trends in International Cargo Operations


◎ This is the status of our International Cargo Operations. Please see the figures on the left. ◎ Weight factors resulted in increased revenues of 17.0 billion yen. In addition to trilateral cargo, success in capturing import/export cargo demand also contributed. ◎ Unit price factors resulted in decreased revenues of 37.0 billion yen due to the impact of yen appreciation, a decline in fuel surcharge revenue, and the abolishment of commissions, among other factors. ◎ The graph on the right shows transitions in total demand for import/export cargo and our Group results. While reorganizing our freighter network and optimizing capacity, overall demand recovery has contributed to gradual improvement in our sales. ◎ The substantial unit price, which excludes the impact of the abolishment of cargo agency commissions, turned to increase year on year during the fourth quarter. ◎ Please turn to page 34.