Financial Summary for the Fiscal Year Ending March 2026 [Japanese Standards] (Consolidated)

Performance Overview

The consolidated performance for the fiscal year ending March 2026 shows net sales of ¥127,209.5 million (a 10.3% decrease YoY), operating profit of ¥13,439 million (a 21.4% decrease), ordinary income of ¥16,885 million (a 2.8% decrease), and net income attributable to owners of the parent of ¥15,391 million (a 16.2% decrease). Revenue and operating profit declined in the international shipping sector, while the real estate sector experienced growth. The equity ratio decreased to 45.6% from 47.5% in the previous year.

Segment Performance Trends

The international shipping business recorded net sales of ¥102,464 million (a 12.8% decrease YoY) and operating profit of ¥8,786 million (a 33.4% decrease) due to a slowdown in the large crude oil tanker market and the impact of the Strait of Hormuz blockade. The domestic and regional shipping sector posted sales of ¥10,764 million (a 5.1% decrease) and operating profit of ¥303 million (a 33.3% decrease) affected by reduced transportation demand and ship maintenance activities. The real estate sector performed strongly with net sales of ¥14,180 million (an 8.2% increase) and operating profit of ¥4,350 million (a 25.7% increase) driven by recovery in office building leasing markets and renewal contracts.

Dividend Situation

The annual dividend for the fiscal year ending March 2026 is set at ¥59 (an increase of ¥1 YoY), with a payout ratio of 40.6%. Interim dividends are ¥24, and the final dividends are ¥35. The future dividend forecast for the next fiscal year ending March 2027 is ¥46 annually (¥23 interim and ¥23 final). No change to the number of dividend payments is planned at this time.

Earnings Forecast for the Fiscal Year Ending March 2027

Consolidated earnings for the fiscal year ending March 2027 are projected to be net sales of ¥129.0 billion (a 1.3% increase YoY), operating profit of ¥9.1 billion (a 32.3% decrease), ordinary income of ¥6.7 billion (a 60.3% decrease), and net income attributable to owners of the parent of ¥12.1 billion (a 21.4% decrease). While the outlook remains uncertain due to the ongoing closure of the Strait of Hormuz, it assumes that maritime traffic will resume by mid-June.

Mid-term Management Plan 'Transformation for a Sustainable Future'

Starting April 2026, the five-year mid-term management plan aims to balance capital efficiency and growth investments amidst structural changes and increased uncertainties. Approximately ¥200 billion will be allocated to growth, new businesses, and core operations. The plan includes maintaining a dividend payout ratio of 40%, introducing a minimum dividend, and flexible treasury stock acquisitions. Human capital management and governance enhancements will also be promoted.