Worth reading
42Recurring
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
-11.9
Year-on-year change in net income attributable to owners of the parent (%)Wording
Conditional
How definitive the wording is.Results for this period
Third quarter1 December 2025 to 31 August 2026ConsolidatedJapanese GAAPNet Sales156,245¥ millionYear on year +3.7%Progress 76.2%
Operating profit4,407¥ millionYear on year -1.0%Progress 77.3%
Ordinary income3,590¥ millionYear on year -4.7%Progress 81.6%
Net income attributable to owners of the parent1,833¥ millionYear on year -11.9%Progress 87.3%
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¥73.78
Financial position at period-end
Total assets143,989¥ million
of which net assets 59,324 ¥ millionEquity ratio 32.5%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 revenueJoint logistics ¥104,659 million (YoY +2.5%), Dedicated logistics ¥29,985 million (YoY +0.5%), Related businesses ¥21,601 million (YoY +15.5%)
Segment profitJoint logistics ¥2,012 million (YoY -9.8%), Dedicated logistics ¥1,008 million (YoY -9.5%), Related businesses ¥1,363 million (YoY +26.3%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥205,000 million (YoY +1.2%)
Operating profit¥5,700 million (YoY +1.0%)
Ordinary income¥4,400 million (YoY -8.7%)
Net income¥2,100 million (YoY -20.7%)
Revision to Earnings ForecastNo revision
Annual Dividend Forecast¥27.5 → ¥24（-12.7%）
Factors Behind Changes in Business Performance
Operating revenue increased due to appropriate pricing measures, expansion of existing business, an increase in domestic facility construction projects and the expansion of new and existing business in Indonesia. Operating profit decreased due to higher transportation and warehousing costs, labor costs and expenses associated with the introduction of a retirement benefit plan. The related businesses reported higher profit, mainly due to increased profit from higher revenue.
Disclosure regarding the going concern assumption
No applicable matters.
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 None
Material subsequent eventsOn 1 September 2026, the company completed the acquisition of shares in Coldrush Logistics Private Limited, an Indian cold-chain logistics company, and made it a consolidated subsidiary. The voting rights ratio acquired was 51.6%, and the acquisition cost was ¥2,853 million.
Impairment lossNo applicable matters.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥152 million, Gain on sale of investment securities ¥8 million, Gain on sale of golf club memberships ¥31 million, Other ¥28 million / Extraordinary loss Loss on disposal and sale of non-current assets ¥85 million, Loss on lease cancellation ¥1 million, Other ¥4 million
Depreciation and amortization¥6,084 million
Availability of Supplementary Financial Results MaterialsNo
Availability of Financial Results BriefingNo (no eligible attendees)
Issued Shares at Period-End25,355,800 shares
Treasury Shares at Period-End499,317 treasury shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Third quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 December 2025 to 31 August 2026 |
| Net Sales | ¥156,245 million (YoY +3.7%) |
| Operating profit | ¥4,407 million (YoY -1.0%) |
| Ordinary income | ¥3,590 million (YoY -4.7%) |
| Profit attributable to owners of the parent | ¥1,833 million (YoY -11.9%) |
| Net income per share | ¥73.78 |
| Equity ratio | End of the current fiscal period 32.5 / End of previous period 33.2 |
| Total assets | ¥143,989 million |
| Net assets | ¥59,324 million |
| Full-year earnings forecast | Net Sales ¥205,000 million (YoY +1.2%) / Operating profit ¥5,700 million (YoY +1.0%) / Ordinary income ¥4,400 million (YoY -8.7%) / Net income ¥2,100 million (YoY -20.7%) |
| Revision to Earnings Forecast | No revision |
| Annual Dividend Forecast | ¥27.5 → ¥24（-12.7%） |
| Segment revenue | Joint logistics ¥104,659 million (YoY +2.5%), Dedicated logistics ¥29,985 million (YoY +0.5%), Related businesses ¥21,601 million (YoY +15.5%) |
| Segment profit | Joint logistics ¥2,012 million (YoY -9.8%), Dedicated logistics ¥1,008 million (YoY -9.5%), Related businesses ¥1,363 million (YoY +26.3%) |
| Depreciation and amortization | ¥6,084 million |
| Impairment loss | No applicable matters. |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥152 million, Gain on sale of investment securities ¥8 million, Gain on sale of golf club memberships ¥31 million, Other ¥28 million / Extraordinary loss Loss on disposal and sale of non-current assets ¥85 million, Loss on lease cancellation ¥1 million, Other ¥4 million |
| Disclosure regarding the going concern assumption | No applicable matters. |
| 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 None |
| Material subsequent events | On 1 September 2026, the company completed the acquisition of shares in Coldrush Logistics Private Limited, an Indian cold-chain logistics company, and made it a consolidated subsidiary. The voting rights ratio acquired was 51.6%, and the acquisition cost was ¥2,853 million. |
| Availability of Supplementary Financial Results Materials | No |
| Availability of Financial Results Briefing | No (no eligible attendees) |
| Issued Shares at Period-End | 25,355,800 shares |
| Treasury Shares at Period-End | 499,317 treasury shares |
| Factors Behind Changes in Business Performance | Operating revenue increased due to appropriate pricing measures, expansion of existing business, an increase in domestic facility construction projects and the expansion of new and existing business in Indonesia. Operating profit decreased due to higher transportation and warehousing costs, labor costs and expenses associated with the introduction of a retirement benefit plan. The related businesses reported higher profit, mainly due to increased profit from higher revenue. |
Items this document does not state (9)
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 backlog
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.Operating revenue increased due to appropriate pricing measures, expansion of existing business, an increase in domestic facility construction projects and the expansion of new and existing business in Indonesia. Operating profit decreased due to higher transportation and warehousing costs, labor costs and expenses associated with the introduction of a retirement benefit plan. The related businesses reported higher profit, mainly due to increased profit from higher revenue.
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