Audit Report (Translated Into English) Nisshin Transportation

(unit : 1,000 JPY) Amount Amount 6,040,221 4,268,855 Cash and deposits 3,421,210 Accounts payable - trade 1,045,977 Notes receivable - trade 259,490 Short-term borrowings 2,700,000 Accounts receivable - trade 2,283,724 Lease liabilities 644 Supplies 154 Accounts payable - other 52,087 Current portion of long-term loans receivable 12,631 Income taxes payable 176,921 Accounts receivable - other 32,209 Accrued consumption taxes 18,459 Estimated delivery payment 5 Accrued expenses 235,870 Other 46,026 Advances received 17,138 Allowance for doubtful accounts △ 15,231 Deposits received 20,616 Other 1,139 1,302,643 415,603 125,628 Lease liabilities 1,342 Buildings 86,539 Provision for retirement benefits 195,090 Structures 8,436 Provision for retirement benefits for directors 28,270 Machinery and equipment 23,834 Asset retirement obligations 190,900 Vehicles 0 4,684,459 Tools, furniture and fixtures 4,604 Land 226 Leased assets 1,987 2,626,653 54,980 200,000 Software 54,418 2,426,653 Other 562 Legal retained earnings 50,000 1,122,034 Other retained earnings 2,376,653 Investment securities 53,000 Shares of subsidiaries and associates 408,541 Investments in capital 145,646 Long-term loans receivable 247,120 Guarantee deposits 42,390 31,752 Deferred tax assets 208,518 31,752 Other 16,317 2,658,405 7,342,865 7,342,865 (Note) Amounts rounded down less than 1,000 JPY are presented. Intangible assets Investments and other assets Shareholders' equity Capital stock Retained earnings Total Assets Valuation and translation adjustments Valuation difference on available-for-sale securities Total Net Assets Total Liabilities and Net Assets (NET ASSETS) Current Assets Current Liabilities Non-current assets Non-current liabilities Property, plant and equipment Total Liabilities Account Account (ASSETS) (LIABILITIES) Balance Sheet (as of February 28th, 2022) (unit : 1,000 JPY) 14,993,358 13,679,339 Gross profit 1,314,019 558,724 Operating profit 755,294 Interest income 2,318 Dividend income 106,570 Other 4,483 113,372 Interest expenses 1,068 Foreign exchange losses 2,553 Other 7,430 11,052 Ordinary profit 857,614 Other Extraordinary income 23,540 23,540 Loss on retirement of non-current assets 122 122 881,031 Income taxes 254,023 627,008 (Note 1) Amounts rounded down less than 1,000 JPY are presented. (Note 2) Due to changing financial year end (from April 1, 2021 to February 28, 2022), this statement is irregularly presented for 11 months period. Extraordinary losses Profit before income taxes Profit after income taxes Amount Selling, general and administrative expenses Non-operating income Non-operating expenses Extraordinary income Cost of sales Income Statement (from April 1st, 2021 to February 28th, 2022) Account Net sales Current Financial Year (from April 1st, 2021 to February 28th, 2022) (unit : 1,000 JPY) Profit after income taxes Profit after income taxes (Note) Breakdown of other retained earnings (unit : 1,000 JPY) Profit after income taxes (Note) Amounts rounded down less than 1,000 JPY are presented. Balance at end of the period 140,000 2,236,653 2,376,653 Net changes in items other than shareholders' equity for the period Net changes in items other than shareholders' equity for the period - - - 627,008 627,008 Total changes of items for the period - 627,008 627,008 Changes of items for the period Item Total General reserve Retained earnings brought forward Balance at beginning of the period 140,000 1,609,644 1,749,644 2,030,563 833 627,841 2,658,405 627,008 30,919 833 833 31,752 Balance at beginning of the period Changes of items for the period Total changes of items for the period Balance at end of the period 30,919 833 833 31,752 2,426,653 2,626,653 Item Valuation and translation adjustments Total Net Assets Valuation difference on available-for- sale securities Total valuation and translation adjustments - - 200,000 - 627,008 627,008 627,008 50,000 2,376,653 - - - 1,799,644 627,008 1,999,644 627,008 50,000 - 1,749,644 627,008 Changes of items for the period Total changes of items for the period Balance at end of the period 200,000 - - Shareholders' equity Capital stock Retained earnings Total shareholders' equity Legal retained earnings Statement of Changes in Equity Other retained earnings Total retained earnings Item Balance at beginning of the period