Kintetsu releases financial report for the year ended March 31, 2022


For the year ending March 31, 2022, The KWE Group’s consolidated net sales totalled ¥980.441 billion in the fiscal year ended March 2022, up by 61.0%, or ¥371.331 billion, from the previous year mainly due to volume increase and the shortage of air and sea freight capacity and the resulting rise in freight rates.

As a result, air freight exports increased 33.0% year-on-year to 740 thousand tons, air freight imports rose 16.1% to 1,349 thousand shipments, sea freight exports increased 12.3% to 718 thousand TEUs and sea freight imports rose 8.0% to 285 thousand shipments, exceeding the pre-COVID-19 level. Logistics exceeded the results of a year earlier in all segments.

Net sales in air freight forwarding rose by 68.8%, sea freight  forwarding increased by 99.4%, logistics rose by 17.2%, and other  operations increased by 20.1%.

Net sales rose by 62.0% in Japan, 81.9% in the Americas, 58.7% in Europe, Middle East & Africa, 71.0% in East Asia & Oceania, 92.6% in Southeast Asia, and 32.6% in APLL.

KWE Group reported that international transport demand which decreased in the year ended March 31, 2021 due to restrictions on economic activities around the world significantly increased while the tight capacity of air and sea transport due to disruptions in maritime container logistics and a reduced number of passenger flights resulted in continued capacity shortage and rise in freight rates.

Overall, air freight forwarding (accounting for 47.1% of net sales in the fiscal year ended March 2022), sea freight forwarding (30.8%), logistics (17.4%), and other operations (4.7%).

A breakdown of net sales* by segment shows that Japan accounts for 23.9%, the Americas for 10.6%, Europe, Middle East & Africa for 5.9%, East Asia & Oceania for 22.3%, Southeast Asia for 17.7%, APLL for 19.3%, and other* for 0.3%.

Source: KWE Group