This article compares the FY2026 first-quarter results of major integrated shipping companies NYK Line and Mitsui O.S.K. Lines. NYK Line achieved higher revenue and profit, driven by its integrated logistics business, while Mitsui O.S.K. Lines set out a policy of expanding investment in non-shipping businesses and strengthening stable earnings.
This article compares the results of major integrated shipping companies NYK Line and Mitsui O.S.K. Lines. NYK Line is strong in integrated logistics linking container shipping with land and air transportation, while Mitsui O.S.K. Lines is actively investing in non-shipping businesses, including LNG carriers, energy transportation and real estate.
NYK Line's consolidated results for the first quarter of FY2026 were revenue of ¥727.6 billion, operating profit of ¥57.7 billion, ordinary profit of ¥71.2 billion and net income attributable to owners of the parent of ¥67.1 billion. All four figures were substantially higher than in the same quarter of the previous year, resulting in significant increases in both revenue and profit.
Factors contributing to the increase in profit included improved market conditions for dry bulk shipping and energy transportation, yen depreciation during the period, reflected in an average exchange rate of ¥159.89/$, and a sharp rise in fuel prices caused by geopolitical risks. These were offset by improved earnings that absorbed higher operating costs for container ships and car carriers.
Mitsui O.S.K. Lines is strengthening its non-shipping businesses and aims to build a portfolio resilient to economic fluctuations by allocating resources to areas including LNG carriers, energy transportation and real estate.