FY2027 September interim period ordinary profit forecast raised to ¥213 billion, with container freight rates and ONE in focus

In the company’s forecast revision announced on 29 October 2026, consolidated ordinary profit for the FY2027 September interim period was raised from the previous forecast of ¥160 billion to ¥213 billion. The increase was ¥53 billion, or 33.1%, and the next interim earnings release will provide a check against this new assumption. Since this is a forecast rather than actual performance, the interim-period revenue, operating profit, ordinary profit and net profit attributable to owners of the parent should be compared with the forecasts on the same-period basis when results are announced.

The latest earnings forecast data for FY2027 show revenue of ¥3 trillion, operating profit of ¥210 billion, net profit attributable to owners of the parent of ¥330 billion and earnings per share of ¥817.36. First-quarter actual results were revenue of ¥727.656 billion, operating profit of ¥57.708 billion, ordinary profit of ¥71.222 billion and net profit of ¥67.109 billion. Accordingly, the next earnings release should be used to assess how far cumulative first-half operating profit has progressed against the full-year operating profit forecast of ¥210 billion, and whether the difference from the ¥213 billion interim-period ordinary profit forecast was driven by non-operating income, particularly equity-method investment income.

The reasons given for the upward revision were container freight rates running above the previous forecast, contributions from equity-method affiliates and firm dry-bulk and energy market conditions. However, the forecast revision data currently available do not disclose interim-period operating profit, equity-method investment income from ONE, or freight rates, cargo volumes and load factors by container route. At the next earnings release, it will be important to confirm whether the upside extended beyond ordinary profit to operating profit, and what proportion of the upward revision was attributable to market conditions versus equity-method investment income.