Worth reading
53Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
56.1
Year-on-year decline in operating profit (%)Wording
Conditional
How definitive the wording is.Results for this period
Third quarter1 January 2026 to 30 September 2026ConsolidatedJapanese GAAPNet Sales11,829Millions of yenYear on year +7.6%Progress 78.0%
Operating profit359Millions of yenYear on year -4.8%Progress 156.1%
Ordinary income331Millions of yenYear on year +0.9%Progress 194.7%
Net income attributable to owners of the parent275Millions of yenYear on year +15.1%Progress 211.5%
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¥125.73
Financial position at period-end
Total assets21,156Millions of yen
of which net assets 7,192 Millions of yenEquity ratio 26.1%vs. prior year-end +0.7pt
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
Maritime-related business10,51387.5%
Trading and Food and Beverage Operations9968.3%
Hotel Business2762.3%
Passenger Vehicle Transportation Business2352.0%
Segment profit
Maritime-related business63080.8%
Trading and Food and Beverage Operations10012.8%
Hotel Business293.7%
Passenger Vehicle Transportation Business212.7%
Outlook and shareholder returns
Full-year earnings forecast
Net Sales15,170 Millions of yen (YoY +6.2%)
Operating profit230 Millions of yen (YoY -56.1%)
Ordinary income170 Millions of yen (YoY -61.8%)
Net income130 Millions of yen (YoY -64.7%)
Revision to Earnings ForecastNot disclosed → Net Sales 15,170 / Operating profit 230 / Ordinary income 170 / Net income 130
Annual Dividend Forecast10 Yen → Undetermined
Factors Behind Changes in Business Performance
Revenue increased due to container sales and onboard vending machine and restaurant income in the trading and food-service business, hotel meal price revisions, strong performance in scheduled and chartered buses in the passenger automobile transportation business, and route bus fare revisions. Meanwhile, passenger numbers remained sluggish due to persistent rain and typhoons in September and the impact of inappropriate incidents, and the company recorded investigation costs and other expenses related to the special investigation committee as extraordinary losses.
Disclosure regarding the going concern assumption
None
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 companies / Excluded 0 companies / Company name Not disclosed
Material subsequent eventsOn 2 October 2026, the company received an administrative sanction from the Kanto District Transport Bureau of the Ministry of Land, Infrastructure, Transport and Tourism, including an order suspending the use of certain vessels.
Breakdown of extraordinary income (loss)Extraordinary income Government subsidies 66 Millions of yen / Other extraordinary income 45 Millions of yen / Total 111 Millions of yen / Extraordinary loss Reduction of Fixed Asset Cost 65 Millions of yen / Other extraordinary losses 71 Millions of yen / Total 137 Millions of yen
Depreciation and amortization904 Millions of yen
Availability of Supplementary Financial Results MaterialsNo
Availability of Financial Results BriefingWhether applicable No / Subject person Not disclosed
Issued Shares at Period-End2,200,000 shares
Treasury Shares at Period-End5,382 treasury shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Third quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 January 2026 to 30 September 2026 |
| Net Sales | 11,829 Millions of yen (YoY +7.6%) |
| Operating profit | 359 Millions of yen (YoY -4.8%) |
| Ordinary income | 331 Millions of yen (YoY +0.9%) |
| Profit attributable to owners of the parent | 275 Millions of yen (YoY +15.1%) |
| Net income per share | ¥125.73 |
| Equity ratio | End of the current fiscal period 26.1 / End of previous period 25.4 |
| Total assets | 21,156 Millions of yen |
| Net assets | 7,192 Millions of yen |
| Full-year earnings forecast | Net Sales 15,170 Millions of yen (YoY +6.2%) / Operating profit 230 Millions of yen (YoY -56.1%) / Ordinary income 170 Millions of yen (YoY -61.8%) / Net income 130 Millions of yen (YoY -64.7%) |
| Revision to Earnings Forecast | Not disclosed → Net Sales 15,170 / Operating profit 230 / Ordinary income 170 / Net income 130 |
| Annual Dividend Forecast | 10 Yen → Undetermined |
| Segment revenue | Maritime-related business 10,513 Millions of yen / Trading and Food and Beverage Operations 996 Millions of yen / Hotel Business 276 Millions of yen / Passenger Vehicle Transportation Business 235 Millions of yen |
| Segment profit | Maritime-related business 630 Millions of yen / Trading and Food and Beverage Operations 100 Millions of yen / Hotel Business 29 Millions of yen / Passenger Vehicle Transportation Business 21 Millions of yen |
| Depreciation and amortization | 904 Millions of yen |
| Breakdown of extraordinary income (loss) | Extraordinary income Government subsidies 66 Millions of yen / Other extraordinary income 45 Millions of yen / Total 111 Millions of yen / Extraordinary loss Reduction of Fixed Asset Cost 65 Millions of yen / Other extraordinary losses 71 Millions of yen / Total 137 Millions of yen |
| Disclosure regarding the going concern assumption | None |
| 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 companies / Excluded 0 companies / Company name Not disclosed |
| Material subsequent events | On 2 October 2026, the company received an administrative sanction from the Kanto District Transport Bureau of the Ministry of Land, Infrastructure, Transport and Tourism, including an order suspending the use of certain vessels. |
| Availability of Supplementary Financial Results Materials | No |
| Availability of Financial Results Briefing | Whether applicable No / Subject person Not disclosed |
| Issued Shares at Period-End | 2,200,000 shares |
| Treasury Shares at Period-End | 5,382 treasury shares |
| Factors Behind Changes in Business Performance | Revenue increased due to container sales and onboard vending machine and restaurant income in the trading and food-service business, hotel meal price revisions, strong performance in scheduled and chartered buses in the passenger automobile transportation business, and route bus fare revisions. Meanwhile, passenger numbers remained sluggish due to persistent rain and typhoons in September and the impact of inappropriate incidents, and the company recorded investigation costs and other expenses related to the special investigation committee as extraordinary losses. |
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.Inappropriate incidents occurred, including bridge watches conducted while crew members were under the influence of alcohol, improper implementation of alcohol testing, and vessel operations with the gangway doors left open. The company received various orders from the Ministry of Land, Infrastructure, Transport and Tourism, including orders suspending the use of certain vessels. It also recorded investigation costs and other expenses related to the special investigation committee as extraordinary losses.
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