Worth reading
61In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
3400
¥ millionWording
Conditional
How definitive the wording is.Results for this period
First quarter1 April 2026 to 30 June 2026ConsolidatedJapanese GAAPNet Sales67,333¥ millionYear on year +22.8%Progress 27.8%
Operating profit7,324¥ millionYear on year +96.6%Progress 27.6%
Ordinary income7,201¥ millionYear on year +147.4%Progress 28.5%
Net income attributable to owners of the parent6,111¥ millionYear on year +2.6%Progress 24.4%
The 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.
Net income per share¥259.31
Financial position at period-end
Total assets297,499¥ million
of which net assets 189,102 ¥ millionEquity ratio 63.6%vs. prior year-end +0.4pt
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.
Segment revenue
International shipping business59,12987.8%+26.1%
Coastal shipping business8,20412.2%+3.1%
Segment profit
International shipping business6,89894.2%+140.7%
Coastal shipping business4285.8%-52.2%
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥242,000 million (YoY +5.3%)
Operating profit¥26,500 million (YoY +29.1%)
Ordinary income¥25,300 million (YoY +20.2%)
Net income¥25,000 million (YoY +3.8%)
Revision to Earnings ForecastInterim period Net Sales 117,000 / Operating profit 12,100 / Ordinary income 11,900 / Profit attributable to owners of the parent 9,900 / Full year Net Sales 230,000 / Operating profit 23,100 / Ordinary income 21,900 / Profit attributable to owners of the parent 23,100 → Interim period Net Sales 128,000 / Operating profit 14,400 / Ordinary income 14,400 / Profit attributable to owners of the parent 12,400 / Full year Net Sales 242,000 / Operating profit 26,500 / Ordinary income 25,300 / Profit attributable to owners of the parent 25,000（Interim period Net Sales 9.4 / Operating profit 19 / Ordinary income 21 / Profit attributable to owners of the parent 25.3 / Full year Net Sales 5.2 / Operating profit 14.7 / Ordinary income 15.5 / Profit attributable to owners of the parent 8.2）
Annual Dividend ForecastPrevious-period results 310 → Current fiscal year forecast 0（-100.0%）
Factors Behind Changes in Business Performance
Ocean shipping reported higher revenue and earnings because market conditions for dry bulk and other businesses remained generally firm and the exchange rate reflected a weaker yen year on year. Coastal shipping reported higher revenue but lower earnings due to sluggish transportation demand for certain cargoes and higher fuel costs.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 0 / Excluded 0 / Company name Not disclosed
Material subsequent eventsThe Board of Directors resolved to support Nippon Yusen's tender offer for the Company's common shares if launched and to recommend that shareholders tender their shares. It also resolved to conduct a tender offer for treasury shares to acquire 4,720,438 shares of the Company owned by Nippon Steel Corporation, subject to the completion of the tender offer and other conditions.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥33 million / Extraordinary loss Not disclosed
Depreciation and amortization¥3,977 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingNo
Issued Shares at Period-End23,970,679
Treasury Shares at Period-End405,192
| Item | Details |
|---|---|
| Fiscal Period Classification | First quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 June 2026 |
| Net Sales | ¥67,333 million (YoY +22.8%) |
| Operating profit | ¥7,324 million (YoY +96.6%) |
| Ordinary income | ¥7,201 million (YoY +147.4%) |
| Profit attributable to owners of the parent | ¥6,111 million (YoY +2.6%) |
| Net income per share | ¥259.31 |
| Equity ratio | End of the current fiscal period 63.6 / End of previous period 63.2 |
| Total assets | ¥297,499 million |
| Net assets | ¥189,102 million |
| Full-year earnings forecast | Net Sales ¥242,000 million (YoY +5.3%) / Operating profit ¥26,500 million (YoY +29.1%) / Ordinary income ¥25,300 million (YoY +20.2%) / Net income ¥25,000 million (YoY +3.8%) |
| Revision to Earnings Forecast | Interim period Net Sales 117,000 / Operating profit 12,100 / Ordinary income 11,900 / Profit attributable to owners of the parent 9,900 / Full year Net Sales 230,000 / Operating profit 23,100 / Ordinary income 21,900 / Profit attributable to owners of the parent 23,100 → Interim period Net Sales 128,000 / Operating profit 14,400 / Ordinary income 14,400 / Profit attributable to owners of the parent 12,400 / Full year Net Sales 242,000 / Operating profit 26,500 / Ordinary income 25,300 / Profit attributable to owners of the parent 25,000（Interim period Net Sales 9.4 / Operating profit 19 / Ordinary income 21 / Profit attributable to owners of the parent 25.3 / Full year Net Sales 5.2 / Operating profit 14.7 / Ordinary income 15.5 / Profit attributable to owners of the parent 8.2） |
| Annual Dividend Forecast | Previous-period results 310 → Current fiscal year forecast 0（-100.0%） |
| Segment revenue | International shipping business ¥59,129 million (YoY +26.1%) / Coastal shipping business ¥8,204 million (YoY +3.1%) |
| Segment profit | International shipping business ¥6,898 million (YoY +140.7%) / Coastal shipping business ¥428 million (YoY -52.2%) |
| Depreciation and amortization | ¥3,977 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥33 million / Extraordinary loss Not disclosed |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 0 / Excluded 0 / Company name Not disclosed |
| Material subsequent events | The Board of Directors resolved to support Nippon Yusen's tender offer for the Company's common shares if launched and to recommend that shareholders tender their shares. It also resolved to conduct a tender offer for treasury shares to acquire 4,720,438 shares of the Company owned by Nippon Steel Corporation, subject to the completion of the tender offer and other conditions. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | No |
| Issued Shares at Period-End | 23,970,679 |
| Treasury Shares at Period-End | 405,192 |
| Factors Behind Changes in Business Performance | Ocean shipping reported higher revenue and earnings because market conditions for dry bulk and other businesses remained generally firm and the exchange rate reflected a weaker yen year on year. Coastal shipping reported higher revenue but lower earnings due to sluggish transportation demand for certain cargoes and higher fuel costs. |
Items this document does not state (10)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodPayout ratioShareholder Return PolicyRegional salesOrders received and order backlogImpairment loss
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.The full-year earnings forecast was revised based on first-quarter results and the business environment expected from the second quarter onward. In ocean shipping, market conditions for dry bulk and other businesses remained generally firm, and the yen was weaker year on year, resulting in higher revenue and earnings. In coastal shipping, however, revenue increased but earnings declined due to sluggish transportation demand for certain cargoes and higher fuel costs. The reason for changing the dividend forecast to no dividend was not explained in this earnings report and will be disclosed separately.
How to read this page
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