Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPThe width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Increased vessel supply from newbuilds, lower freight market conditions resulting from tariff policies and the situation in the Middle East, the removal of Nippon Cargo Airlines from the scope of consolidation, market fluctuations, lower handling volumes from major customers, and the stronger yen and higher costs, including cargo-handling expenses, reduced earnings. Conversely, higher energy market conditions resulting from the situation in the Middle East and other factors, and one-time profit from the start of operations of a new FPSO, increased earnings.
Not applicable.
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥2,423,689 million (YoY -6.4%) |
| Operating profit | ¥138,601 million (YoY -34.3%) |
| Ordinary income | ¥211,135 million (YoY -57.0%) |
| Profit attributable to owners of the parent | ¥211,750 million (YoY -55.7%) |
| Net income per share | ¥504.85 |
| Operating Margin | 5.7% |
| Equity ratio | End of the current fiscal period 59.1% / End of previous period 67.6% |
| Total assets | ¥5,201,670 million |
| Net assets | ¥3,143,437 million |
| Cash flows from operating activities | ¥473,358 million |
| Cash flows from investing activities | ¥-371,238 million |
| Cash flows from financing activities | ¥-33,386 million |
| Cash and cash equivalents at end of period | ¥210,815 million |
| Full-year earnings forecast | Net Sales ¥2,605,000 million (YoY +7.5%) / Operating profit ¥145,000 million (YoY +4.6%) / Ordinary income ¥185,000 million (YoY -12.4%) / Profit attributable to owners of the parent ¥195,000 million (YoY -7.9%) |
| Annual Dividend Forecast | ¥230 per share → ¥200 per share（-13.0%） |
| Payout ratio | 43.0% (forecast for the fiscal year ending March 2027) |
| Shareholder Return Policy | The Company targets a consolidated dividend payout ratio of 40% and sets the minimum annual dividend at ¥200 per share. It will also consider flexible additional shareholder returns, including share repurchases. |
| Segment revenue | Containership business ¥1,809 100 million (YoY +0.3%), Airfreight business ¥411 100 million (YoY -77.9%), Logistics ¥8,047 100 million (YoY -0.9%), Automotive Business ¥5,268 100 million (YoY -1.0%), Dry bulk business ¥5,510 100 million (YoY -9.3%), Energy Business ¥2,369 100 million (YoY +32.7%), Other Businesses ¥1,813 100 million (YoY -11.4%) |
| Segment profit | Containership business ¥49,793 million, Airfreight business ¥2,158 million, Logistics ¥10,215 million, Automotive Business ¥97,935 million, Dry bulk business ¥9,574 million, Energy Business ¥54,418 million, Other Businesses ¥-31 million |
| Depreciation and amortization | ¥175,182 million |
| Impairment loss | ¥1,382 million. Logistics business: ¥124 million; energy business: ¥1,230 million; other businesses: ¥27 million. Types of assets subject to impairment: Not disclosed. |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥25,539 million, Gain on sale of investment securities ¥37,814 million, Gain on sale of shares in an affiliated company ¥9,796 million, Other ¥9,136 million / Extraordinary loss Loss on sale of fixed assets ¥180 million, Impairment loss on investment securities ¥2,016 million, Loss on exchange of shares in affiliated companies ¥7,057 million, Other ¥7,404 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes Yes / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 1 company: Movianto International B.V. / Excluded 2 companies: Nippon Cargo Airlines and 1 other company |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for analysts and institutional investors) |
| Issued Shares at Period-End | 408,780,000 shares |
| Treasury Shares at Period-End | 3,288,388 shares |
| Factors Behind Changes in Business Performance | Increased vessel supply from newbuilds, lower freight market conditions resulting from tariff policies and the situation in the Middle East, the removal of Nippon Cargo Airlines from the scope of consolidation, market fluctuations, lower handling volumes from major customers, and the stronger yen and higher costs, including cargo-handling expenses, reduced earnings. Conversely, higher energy market conditions resulting from the situation in the Middle East and other factors, and one-time profit from the start of operations of a new FPSO, increased earnings. |
Items this document does not state (4)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.In the containership business, freight market conditions declined due to increased vessel supply from newbuilds, the impact of tariff policies and the situation in the Middle East. In the airfreight business, Nippon Cargo Airlines was removed from the scope of consolidation. In the logistics business, market fluctuations and lower handling volumes from major customers had an impact. In the automotive business, the stronger yen and higher costs, including cargo-handling expenses, affected results. In the dry bulk business, the stronger yen and lower profitability for certain vessel types were factors. Meanwhile, market conditions in the energy business improved against the backdrop of the situation in the Middle East and other factors, and one-time profit was recorded following the start of operations of a new FPSO.