Our financial condition is sound as shown in the link below, more specifically: As of 30 June
2016, the Cash and deposits is JPY 214,304 mil; Total net asset is JPY 330,392mil; equity ratio
is 29.1%; and liquidity ratio is 154.5%, and moreover, we maintain the credit rating at the same
sound and viable level as other shipping companies. It is evident also from these figures that the
messages sent by APLL to its customers are erroneou