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Tokai Kisen, Jan-Sep (Cumulative 3Q) Ordinary Profit Decreases by 40%, Exceeds Full-Year Plan

Thu Nov 13, 2025 3:30 pm JST Earnings

9173 Tokai Kisen Co., Ltd. 【J-GAAP】

Earnings Report

Tokai Kisen Co., Ltd. <9173> [TSE Std] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2025 (January to September) dropped 39.9% from the same period last year to 328 million yen. Progress toward the full-year plan of 260 million yen is 126.2%, but it was lower than the five-year average of 160.7%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to December period (4Q) is expected to turn into a loss of 68 million yen (compared to a profit of 7 million yen in the same period last year). However, if the fourth-quarter performance remains at the same level as the first three quarters, the full-year plan may be increased.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit decreased to 960 million yen, a 16.7% decrease compared to the same period last year. The operating profit margin decreased from 24.9% in the same period last year to 22.6%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2023 10,136 -382 -311 -325 -148.5 ー Nov 13, 2023 J-GAAP
Jan - Sep, 2024 11,307 599 546 300 136.9 98.7 Nov 13, 2024 J-GAAP
Jan - Sep, 2025 10,995 377 328 239 109.3 126.2 Nov 13, 2025 J-GAAP
YoY -2.8% -37.1% -39.9% -20.3% -20.2%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 8,051 1,165 1,159 683 311.9 10 Feb 14, 2025 J-GAAP
Jul - Dec, 2025 Guidance 7,960 926 892 593 270.2 － Aug 12, 2025 J-GAAP
YoY -1.1% -20.5% -23.0% -13.2% -13.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 13,176 -629 -579 -580 -264.6 0 Feb 15, 2024 J-GAAP
Dec, 2024 14,604 582 553 293 133.8 10 Feb 14, 2025 J-GAAP
Dec, 2025 Guidance 14,600 320 260 220 100.3 － Feb 14, 2025 J-GAAP
YoY 0.0% -45.0% -53.0% -24.9% -25.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 4,754 1,182 1,152 690 314.9 24.9 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 3,297 -17 7 -7 -3.2 -0.5 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 3,275 -33 -56 -60 -27.7 -1.0 May 14, 2025 J-GAAP
Apr - Jun, 2025 3,365 -573 -576 -313 -142.9 -17.0 Aug 12, 2025 J-GAAP
Jul - Sep, 2025 4,355 983 960 612 279.8 22.6 Nov 13, 2025 J-GAAP
YoY -8.4% -16.8% -16.7% -11.3% -11.1%

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