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Meiji Shipping, Apr-Dec (Cumulative 3Q) Ordinary Profit Decreases by 61%, Exceeds Full-Year Plan

Thu Jan 29, 2026 1:00 pm JST Earnings

9115 Meiji Shipping Group Co., Ltd. 【J-GAAP】

Earnings Report

Meiji Shipping Group Co., Ltd. <9115> [TSE Std] announced its financial results in the afternoon session on January 29th (13:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) significantly dropped 61.1% from the same period last year to 2.20 billion yen. Progress toward the full-year plan of 0.60 billion yen is 367.7%, already exceeding the target and also exceeding the five-year average of 60.3%.

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 January to March period (4Q) is expected to turn into a loss of 1.60 billion yen (compared to a profit of 3.45 billion 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 October to December (3Q), the consolidated ordinary profit dropped to 1.84 billion yen, a 48.6% decrease compared to the same period last year. The operating profit margin significantly dropped from 18.7% in the same period last year to 10.3%.

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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
Apr - Dec, 2023 50,409 9,353 4,151 3,119 92.3 71.1 Jan 31, 2024 J-GAAP
Apr - Dec, 2024 48,465 8,372 5,674 1,329 39.3 62.1 Jan 31, 2025 J-GAAP
Apr - Dec, 2025 45,344 4,561 2,206 4,431 130.4 367.7 Jan 29, 2026 J-GAAP
YoY -6.4% -45.5% -61.1% +233.4% +231.5%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 34,645 5,549 7,054 2,037 60.2 5 May 15, 2025 J-GAAP
Oct - Mar, 2025 Guidance 27,936 38 243 484 14.2 － Oct 31, 2025 J-GAAP
YoY -19.4% -99.3% -96.6% -76.2% -76.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 65,018 11,398 5,836 5,189 153.5 5 May 15, 2024 J-GAAP
Mar, 2025 67,544 11,014 9,131 2,812 83.1 5 May 15, 2025 J-GAAP
Mar, 2026 Guidance 57,800 3,000 600 3,300 96.9 － Oct 31, 2025 J-GAAP
YoY -14.4% -72.8% -93.4% +17.4% +16.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 15,566 2,907 3,597 554 16.4 18.7 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 19,079 2,642 3,457 1,483 43.8 13.8 May 15, 2025 J-GAAP
Apr - Jun, 2025 15,373 2,150 1,862 2,895 85.3 14.0 Jul 30, 2025 J-GAAP
Jul - Sep, 2025 14,491 812 -1,505 -79 -2.3 5.6 Oct 31, 2025 J-GAAP
Oct - Dec, 2025 15,480 1,599 1,849 1,615 47.5 10.3 Jan 29, 2026 J-GAAP
YoY -0.6% -45.0% -48.6% +191.5% +189.8%

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