Financial Summary for Q3 Fiscal Year Ending March 2026 [Japan GAAP] (Consolidated)

Overview of Performance

The consolidated performance for Q3 of the fiscal year ending March 2026 recorded net sales of JPY 171,264 million (down 9.6% YoY), operating income of JPY 15,073 million (down 10.6% YoY), and ordinary income of JPY 14,656 million (down 13.4% YoY). The appreciation of the yen and lower fuel oil prices caused a decline in ordinary income; however, a gain on the sale of aging vessels was recorded as an extraordinary income, resulting in net income attributable to owners of the parent for the quarter of JPY 18,153 million (up 24.5% YoY). In the ocean shipping business, firm market conditions were observed for certain dry bulk vessel types, and the coastal shipping business saw increases in volume, leading to higher revenue and profit.

Financial Condition and Revisions to Earnings Forecast

At the end of Q3, total assets amounted to JPY 296,098 million, net assets were JPY 179,417 million, and the equity ratio rose to 60.6%. Liabilities are trending downward. The consolidated full-year earnings forecast for the fiscal year ending March 2026 was revised upward to net sales of JPY 224,000 million (up 5.7% from previous forecast), operating income of JPY 18,900 million (up 2.2%), ordinary income of JPY 17,100 million (up 3.6%), and net income attributable to owners of parent of JPY 20,800 million (up 10.1%). The dividend forecast was also increased, raising the year-end dividend by JPY 20 to an annual dividend of JPY 265.