Currently, the situation in the Middle East is becoming increasingly unstable
amid rising military tensions involving the United States and Israel in relation to Iran.

As a result, concerns are growing over navigation risks in the Strait of Hormuz,
with tangible impacts beginning to emerge on the global energy supply.

The Strait of Hormuz is a critical hub for global crude oil transportation,
 and the heightened risks are contributing to an upward trend in oil prices.
In response, shipping lines and airlines have begun successively announcing
increases in fuel surcharges.

Depending on how the situation develops, further rises in energy prices and
transportation costs are anticipated,
raising concerns about broader impacts across the logistics sector.

Our company will continue to closely monitor the latest developments and freight rate trends,
and we are committed to taking prompt and appropriate measures to minimize the impact on our customers.