Weak shipping market conditions in international logistics
First written in FY2017-Q2. 16 of 35 entries say "Mitigated", first in FY2020-Q1. Latest entry: 2026-11-12.
Kawanishi Warehouse moved to the "Worse" side of this theme in 2017, 6 years before the typical company in this theme (2023).
The whole theme swung hardest in 2023: 3 of 8 companies on the "Worse" side.
2 other companies' latest entry also says "Mitigated".
- FY2026ReframedAnnual report
「In the international logistics business, operating revenue exceeded the previous fiscal year because the performance of overseas subsidiaries that had been weak in the previous fiscal year recovered and an overseas subsidiary acquired through M&A contributed from the third quarter. Segment profit fell below the previous fiscal year, however, because the Company's international freight forwarding operations declined from the previous fiscal year. As a result, operating revenue in the international logistics business increased 1.3% year on year to ¥4,532 million, while segment profit decreased 8.5% to ¥163 million.」
International logistics revenue improved on the recovery of overseas subsidiaries and contributions from subsidiaries acquired through M&A, while the decline in the Company's international freight forwarding operations weighed on profit. The risk disclosure has been reorganized from its previous focus on shipping market conditions to an explanation of performance differences by business entity. - 2026-05-15WorsenedEarnings presentation
「国 際 物 流 事 業 は 、 海 外 現 地 法 人 の 回 復 、 M&A に よ る 子 会 社 の 増 加 等 が あ っ た も の の 、 海 上 運 賃 下 落 の 影 響 か ら 、 国 際 運 送 取 扱 事 業 が 低調となり増収ながら減益」
海外現地法人の回復やM&Aによる子会社増加があった一方、海上運賃下落の影響で国際物流事業は増収減益となり、海運市況の収益圧迫が再び明示された。 - FY2026-H1MitigatedAnnual report
「In the international logistics business, operating revenue and segment profit exceeded the same period of the previous year because the performance of overseas subsidiaries that had been weak in the previous fiscal year recovered, despite a decline in the Company's international freight forwarding operations. As a result, operating revenue increased 3.6% year on year to ¥2,261 million, while segment profit increased 11.8% to ¥107 million.」
In international logistics, the performance of overseas subsidiaries that had been weak in the previous fiscal year recovered, offsetting a decline in the Company's international freight forwarding operations, and both operating revenue and segment profit exceeded the same period of the previous year. The pressure on international logistics profitability from weak overseas subsidiaries in the past has eased. - FY2025ReframedAnnual report
「In the international logistics business, operating revenue exceeded the previous fiscal year as a US subsidiary established in 2022 commenced full-scale operations in the current fiscal year and the Company's international freight forwarding operations remained steady. Segment profit fell below the previous fiscal year, however, because the performance of other overseas subsidiaries remained weak.」
The factors behind deteriorating international logistics profitability have shifted from a focus on weakness in the ocean freight market to the poor performance of other overseas subsidiaries. - FY2024-Q3RestatedAnnual report
「In the international logistics business, operating revenue and segment profit fell below the same period of the previous year because imports and exports declined and the ocean freight market weakened, despite increased warehouse operations overseas. As a result, operating revenue decreased 40.3% year on year to ¥3,225 million, while segment profit decreased 49.2% to ¥257 million.」
The decline in imports and exports and the fall in the ocean freight market continued to weigh on revenue and profit in international logistics. Operating revenue decreased 40.3% and segment profit decreased 49.2%. - FY2024-Q2WorsenedAnnual report
「In the international logistics business, operating revenue and segment profit fell below the same period of the previous year because imports and exports declined and the ocean freight market weakened, despite increased warehouse operations overseas. As a result, operating revenue decreased 43.0% year on year to ¥2,174 million, while segment profit decreased 44.8% to ¥182 million.」
In international logistics, the decline in imports and exports and the fall in the ocean freight market became apparent. Operating revenue decreased 43.0% year on year and segment profit decreased 44.8%, resulting in a substantial return to lower revenue and profit after the improvement trend through the previous fiscal year. - FY2024-Q1WorsenedAnnual report
「In the international logistics business, operating revenue and segment profit fell below the same period of the previous year because imports and exports declined and the ocean freight market weakened, despite increased warehouse operations overseas. As a result, operating revenue decreased 43.7% year on year to ¥1,141 million, while segment profit decreased 33.6% to ¥122 million.」
In international logistics, where improvement and strong performance had continued through the previous fiscal year, the decline in imports and exports and the fall in the ocean freight market became apparent. Operating revenue decreased 43.7% and segment profit decreased 33.6%. - FY2023MitigatedAnnual report
「In the international logistics business, operating revenue and segment profit exceeded the previous fiscal year, owing to higher imports and exports, the impact of foreign exchange rates and the ocean freight market, and steady performance by overseas subsidiaries. As a result, operating revenue increased 42.6% year on year to ¥6,814 million, while segment profit increased 126.7% to ¥680 million.」
Although the impact of the ocean freight market remains, revenue and profit in international logistics improved substantially on higher imports and exports and strong performance by overseas subsidiaries. - FY2023-Q3MitigatedAnnual report
「In the international logistics business, operating revenue and segment profit exceeded the same period of the previous year, owing to higher imports and exports, the impact of foreign exchange rates and the ocean freight market, and steady performance by overseas subsidiaries. As a result, operating revenue increased 68.5% year on year to ¥5,405 million, while segment profit increased 161.1% to ¥507 million.」
In international logistics, operating revenue increased 68.5% and segment profit increased 161.1% on higher imports and exports and strong performance by overseas subsidiaries, continuing the recovery from the low-profit conditions caused by the previous downturn in shipping markets and overseas warehouse expenses. - FY2023-Q2MitigatedAnnual report
「In the international logistics business, operating revenue and segment profit exceeded the same period of the previous year, owing to higher imports and exports, the impact of foreign exchange rates and the ocean freight market, and steady performance by overseas subsidiaries. As a result, operating revenue increased 93.8% year on year to ¥3,814 million, while segment profit increased 210.7% to ¥331 million.」
In international logistics, operating revenue increased 93.8% and segment profit increased 210.7% on higher imports and exports and strong performance by overseas subsidiaries. The business continues to recover from the low-profit conditions caused by the previous downturn in shipping markets and overseas warehouse expenses. - FY2023-Q1MitigatedAnnual report
「In the international logistics business, operating revenue and segment profit exceeded the same period of the previous year, owing to higher imports and exports, the impact of the ocean freight market and steady performance by overseas subsidiaries. As a result, operating revenue increased 110.6% year on year to ¥2,027 million, while segment profit increased 263.1% to ¥184 million.」
In international logistics, operating revenue increased 110.6% year on year and segment profit increased 263.1% on higher imports and exports and strong performance by overseas subsidiaries, improving from the low-profit conditions caused by the previous downturn in shipping markets and overseas warehouse expenses. - FY2022-Q3MitigatedAnnual report
「In the international logistics business, operating revenue increased owing to higher imports and exports, the acquisition of new shippers and the impact of changes in the ocean freight market. Segment profit also exceeded the same period of the previous year, supported in part by higher imports and exports and steady performance by overseas subsidiaries. As a result, operating revenue increased 65.5% year on year to ¥3,208 million, while segment profit was ¥194 million, compared with a segment loss of ¥16 million in the same period of the previous year.」
In international logistics, operating revenue increased 65.5% year on year on higher imports and exports and other factors, improving from a segment loss of ¥16 million in the same period of the previous year to profit of ¥194 million. - FY2022-Q2MitigatedAnnual report
「In the international logistics business, operating revenue increased owing to higher imports and exports, the acquisition of new shippers and the impact of changes in the ocean freight market. Segment profit also exceeded the same period of the previous year, supported in part by higher imports and exports and steady performance by overseas subsidiaries. As a result, operating revenue increased 49.9% year on year to ¥1,968 million, while segment profit was ¥106 million, compared with a segment loss of ¥9 million in the same period of the previous year.」
In international logistics, operating revenue increased 49.9% on higher imports and exports and strong performance by overseas subsidiaries, improving from a loss of ¥9 million in the same period of the previous year to profit of ¥106 million. - FY2022-Q1MitigatedAnnual report
「In the international logistics business, operating revenue and segment profit exceeded the same period of the previous year, owing to increased imports and exports, higher ocean freight rates and steady performance by overseas subsidiaries. As a result, operating revenue increased 32.1% year on year to ¥962 million, while segment profit increased 706.6% to ¥50 million.」
In international logistics, operating revenue and segment profit increased on higher imports and exports, higher ocean freight rates and strong performance by overseas subsidiaries, improving from the weak results in the same period of the previous year. - FY2021MitigatedAnnual report
「In the international logistics business, there were factors supporting revenue growth, including steady air cargo handling and higher ocean freight rates, but operating revenue fell below the previous fiscal year because the performance of overseas subsidiaries remained weak. Segment profit exceeded the previous fiscal year, partly because the increase in air cargo and changes in the ocean freight market contributed to results. The segment recorded a loss in the previous fiscal year.」
Although revenue in international logistics continued to decline, increased air cargo and other factors improved results from a segment loss in the previous fiscal year to segment profit of ¥7 million. - FY2021-Q3WorsenedAnnual report
「In the international logistics business, operating revenue fell below the same period of the previous year as handling volumes for imports and exports declined and the performance of overseas subsidiaries remained weak. The segment loss, which was a loss both in the current third quarter cumulative consolidated period and in the same period of the previous year, widened owing to the decline in cargo volumes and other factors. As a result, operating revenue decreased 6.7% year on year to ¥1,943 million, while the segment loss was ¥16 million, compared with a segment loss of ¥6 million in the same period of the previous year.」
In international logistics, revenue declined because imports and exports decreased and overseas subsidiaries performed poorly, while the segment loss widened from ¥6 million in the same period of the previous year to ¥16 million. - FY2021-Q2WorsenedAnnual report
「In the international logistics business, operating revenue fell below the same period of the previous year because handling volumes for imports and exports declined. The segment loss, which was a loss both in the current second quarter cumulative consolidated period and in the same period of the previous year, widened as a result of the decline in cargo volumes. As a result, operating revenue decreased 5.2% year on year to ¥1,316 million, while the segment loss was ¥9 million, compared with a segment loss of ¥2 million in the same period of the previous year.」
Operating revenue in international logistics decreased 5.2% as imports and exports declined, and the segment loss widened from ¥2 million to ¥9 million. - FY2021-Q1MitigatedAnnual report
「In the international logistics business, operating revenue fell below the year-earlier period because the handling volume of import and export cargo decreased. Segment profit exceeded the year-earlier period, mainly because expenses at overseas subsidiaries decreased. As a result, operating revenue decreased 1.9% year on year to ¥730 million, while segment profit increased 155.1% to ¥6 million.」
Operating revenue in international logistics decreased 1.9% year on year because handling volumes for imports and exports declined, but segment profit improved from ¥2 million in the same period of the previous year to ¥6 million, owing in part to lower expenses at an overseas subsidiary. - FY2020MitigatedAnnual report
「In the international logistics business, warehouse operations at an overseas subsidiary exceeded the previous fiscal year, but operating revenue fell below the previous-year level because handling volumes for imports and exports declined. The segment loss, which was a loss both in the current fiscal year and the previous fiscal year, narrowed from the previous year owing in part to increased warehouse operations at the overseas subsidiary. As a result, operating revenue decreased 4.3% year on year to ¥2,810 million, while the segment loss was ¥1 million, compared with a segment loss of ¥59 million in the previous fiscal year.」
Revenue continued to decline because handling volumes for imports and exports fell, but increased warehouse operations at an overseas subsidiary and other factors narrowed the segment loss from ¥59 million to ¥1 million. - FY2020-Q3MitigatedAnnual report
「In the international logistics business, warehouse operations at an overseas subsidiary increased from the same period of the previous year, but operating revenue fell below the previous-year level because handling volumes for imported cargo declined. The segment loss, which was a loss both in the current third quarter cumulative consolidated period and in the same period of the previous year, narrowed from the previous year owing in part to increased warehouse operations at the overseas subsidiary. As a result, operating revenue decreased 5.4% year on year to ¥2,082 million, while the segment loss was ¥6 million, compared with a segment loss of ¥52 million in the same period of the previous year.」
Operating revenue in international logistics decreased 5.4% year on year, but increased warehouse operations at an overseas subsidiary and other factors narrowed the segment loss from ¥52 million to ¥6 million. - FY2020-Q2MitigatedAnnual report
「In the international logistics business, warehouse operations at an overseas subsidiary increased from the same period of the previous year, but operating revenue fell below the previous-year level because handling volumes for imported cargo declined. The segment loss, which was a loss both in the current second quarter cumulative consolidated period and in the same period of the previous year, narrowed from the previous year owing in part to increased warehouse operations at the overseas subsidiary. As a result, operating revenue decreased 6.7% year on year to ¥1,387 million, while the segment loss was ¥2 million, compared with a segment loss of ¥29 million in the same period of the previous year.」
Operating revenue in international logistics decreased, but increased warehouse operations at an overseas subsidiary and other factors narrowed the segment loss from ¥29 million to ¥2 million. - FY2020-Q1MitigatedAnnual report
「In the international logistics business, warehouse operations at an overseas subsidiary increased from the same period of the previous year, but operating revenue fell below the previous-year level because cargo handling volumes declined. Segment profit exceeded the previous-year level, owing in part to the increase in warehouse operations at the overseas subsidiary. As a result, operating revenue decreased 2.7% year on year to ¥744 million, while segment profit was ¥2 million, compared with a segment loss of ¥4 million in the same period of the previous year.」
In international logistics, operating revenue decreased 2.7% as cargo handling volumes declined, while increased warehouse operations at an overseas subsidiary and other factors improved results from a segment loss of ¥4 million to profit of ¥2 million. - FY2019WorsenedAnnual report
「In the international logistics business, operating revenue fell below the previous fiscal year as cargo handling volumes declined and the performance of overseas subsidiaries remained weak. Segment profit also fell below the previous-year level, due in part to higher expenses at a new warehouse operated by an overseas subsidiary that commenced operations in the previous fiscal year. As a result, operating revenue decreased 2.3% year on year to ¥2,936 million, while the segment recorded a loss of ¥59 million, compared with segment profit of ¥7 million in the previous fiscal year.」
Operating revenue in international logistics decreased, and higher expenses at an overseas new warehouse and other factors caused the segment to move from profit in the previous fiscal year to a loss of ¥59 million. - FY2019-Q3WorsenedAnnual report
「In the international logistics business, operating revenue fell below the same period of the previous year as cargo handling volumes declined and the performance of overseas subsidiaries remained weak. Segment profit also fell below the previous-year level, due in part to higher expenses at a new warehouse operated by an overseas subsidiary that commenced operations in the previous fiscal year. As a result, operating revenue decreased 2.2% year on year to ¥2,202 million, while the segment recorded a loss of ¥52 million, compared with segment profit of ¥38 million in the same period of the previous year.」
Operating revenue in international logistics decreased 2.2% year on year, and higher expenses related to a new warehouse operated by an overseas subsidiary caused the segment to move from profit of ¥38 million in the same period of the previous year to a loss of ¥52 million. - FY2019-Q2WorsenedAnnual report
「In the international logistics business, cargo handling volumes were broadly unchanged, and operating revenue was only slightly below the same period of the previous year. Segment profit fell below the previous-year level, however, due in part to higher expenses at warehouses operated by an overseas subsidiary that commenced operations in the previous fiscal year. As a result, operating revenue decreased 0.7% year on year to ¥1,487 million, while the segment recorded a loss of ¥29 million, compared with segment profit of ¥29 million in the same period of the previous year.」
In international logistics, operating revenue decreased 0.7% year on year, and higher warehouse expenses at an overseas subsidiary caused the segment to move from profit of ¥29 million in the same period of the previous year to a loss of ¥29 million. - FY2019-Q1WorsenedAnnual report
「In the international logistics business, operating revenue was broadly unchanged from the same period of the previous year, as there were no significant changes in cargo handling volumes or the performance of overseas subsidiaries. Segment profit fell below the previous-year level, however, due in part to higher expenses at warehouses operated by an overseas subsidiary that commenced operations in the previous fiscal year. As a result, operating revenue increased 0.3% year on year to ¥765 million, while the segment recorded a loss of ¥4 million, compared with segment profit of ¥20 million in the same period of the previous year.」
In international logistics, higher expenses related to warehouses operated by an overseas subsidiary that commenced operations in the previous fiscal year caused the segment to move from profit of ¥20 million in the same period of the previous year to a loss of ¥4 million. - FY2018-Q3WorsenedAnnual report
「In the international logistics business, cargo handling decreased from the same period of the previous year, while the performance of overseas subsidiaries remained weak. Operating revenue was therefore below the same period of the previous year, and segment profit was also lower due in part to expenses associated with the launch of a new overseas warehouse. As a result, operating revenue decreased by 9.6% year on year to ¥2,252 million, while segment profit decreased by 38.8% to ¥38 million.」
The decrease in cargo handling in international logistics, weak performance at overseas subsidiaries, and expenses associated with the launch of a new overseas warehouse resulted in decreases of 9.6% in operating revenue and 38.8% in segment profit, further quantifying the weakness. - FY2018-Q2WorsenedAnnual report
「In the international logistics business, cargo handling decreased from the same period of the previous year, while the performance of overseas subsidiaries remained weak. As a result, operating revenue and segment profit were both below the same period of the previous year. Operating revenue decreased by 13.9% year on year to ¥1,498 million, while segment profit decreased by 35.4% to ¥29 million.」
The decrease in cargo handling in international logistics and weak performance at overseas subsidiaries were reflected in decreases of 13.9% in operating revenue and 35.4% in segment profit. - FY2018-Q1WorsenedAnnual report
「In the international logistics business, handling of imported cargo decreased from the same period of the previous year, while the performance of overseas subsidiaries remained weak. As a result, operating revenue and segment profit were both below the same period of the previous year. Operating revenue decreased by 15.9% year on year to ¥762 million, while segment profit decreased by 9.5% to ¥20 million.」
Weakness in international logistics related to shipping and imported cargo was reflected in a 15.9% decrease in operating revenue and a 9.5% decrease in segment profit during the quarter. - FY2017WorsenedAnnual report
「In the international logistics business, operating revenue was below the previous fiscal year due to the impact of weak shipping market conditions and other factors. … Operating revenue decreased by 11.8% year on year to ¥3,278 million, while segment profit increased by 107.3% year on year to ¥81 million.」
The impact of weak shipping market conditions was reflected in an 11.8% year-on-year decrease in full-year operating revenue from international logistics, while segment profit increased due to expense reviews and other measures. - FY2017-Q3RestatedAnnual report
「In the international logistics business, operating revenue was below the same period of the previous year due to the impact of weak shipping market conditions and other factors. As a result, operating revenue decreased by 11.3% year on year to ¥2,493 million, while segment profit increased by 89.0% year on year to ¥63 million.」
Weak shipping market conditions continued to weigh on the international logistics business, contributing to an 11.3% year-on-year decrease in operating revenue. - FY2017-Q2First statedAnnual report
「Operating revenue remained at approximately the same level as in the same period of the previous year, due to factors including a decrease in revenue resulting from weak shipping market conditions in the international logistics business.」
Weak shipping market conditions were cited as a factor behind the decrease in revenue from the international logistics business, affecting operating revenue.