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Mitsubishi Logistics, Net Income Forecast for the Fiscal Year Revised Upward by 11%, Exceeded Record Profit Forecast

Fri Jan 30, 2026 3:30 pm JST Earnings

9301 Mitsubishi Logistics Corporation 【J-GAAP】

Earnings Report

Mitsubishi Logistics Corporation <9301> [TSE Prime] announced its financial results after the market closed on January 30th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2026 (April to December) expanded 42.2 billion yen, an increase 89.4% compared to the same period last year.

In addition, the full-year forecast for consolidated net income has been revised upward 11.1%, from the previous forecast of 45.0 billion yen to 50.0 billion yen (compared to 31.8 billion yen in the previous period), increasing the growth rate from 41.2% to 56.9%. The company has further increased its previous forecast of record profits for the first time in five years.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (second half) is expected to increase 41.2%, from the previous forecast of 12.1 billion yen to 17.1 billion yen (compared to 15.5 billion yen in the same period of the previous year), turning to a 10.6% increase in the consolidated net income outlook.

In the most recent three-month period, from October to December (3Q), the consolidated net income increased 58.2% from the same period last year, reaching 9.43 billion yen. However, the operating profit margin worsened from 9.0% in the same period last year to 6.6%.

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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
Apr - Dec, 2023 192,452 15,780 21,204 24,596 63.3 87.1 Jan 31, 2024 J-GAAP
Apr - Dec, 2024 214,245 16,159 12,865 22,320 59.8 69.1 Jan 31, 2025 J-GAAP
Apr - Dec, 2025 205,089 12,096 16,619 42,283 119.6 80.7 Jan 30, 2026 J-GAAP
YoY -4.3% -25.1% +29.2% +89.4% +100.1%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2025 Prev 143,884 8,459 10,239 12,149 35.0 18 Oct 31, 2025 J-GAAP
Oct - Mar, 2025 New 143,884 8,459 10,239 17,149 49.4 18 Jan 30, 2026 J-GAAP
Revision Rate 0.0% 0.0% 0.0% +41.2% +41.2%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 280,000 16,000 20,600 45,000 129.7 36 Oct 31, 2025 J-GAAP
Mar, 2026 New 280,000 16,000 20,600 50,000 144.2 36 Jan 30, 2026 J-GAAP
Revision Rate 0.0% 0.0% 0.0% +11.1% +11.1%

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 149,179 11,315 6,979 15,505 41.8 16 Apr 30, 2025 J-GAAP
Oct - Mar, 2025 Guidance 143,884 8,459 10,239 17,149 49.4 18 Jan 30, 2026 J-GAAP
YoY -3.5% -25.2% +46.7% +10.6% +18.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 254,507 18,941 24,358 27,787 71.9 24 Apr 30, 2024 J-GAAP
Mar, 2025 284,069 20,310 18,620 31,864 85.9 32 Apr 30, 2025 J-GAAP
Mar, 2026 Guidance 280,000 16,000 20,600 50,000 144.2 36 Jan 30, 2026 J-GAAP
YoY -1.4% -21.2% +10.6% +56.9% +67.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 79,355 7,164 1,224 5,961 16.0 9.0 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 69,824 4,151 5,755 9,544 25.7 5.9 Apr 30, 2025 J-GAAP
Apr - Jun, 2025 68,562 3,962 6,228 18,571 51.8 5.8 Jul 31, 2025 J-GAAP
Jul - Sep, 2025 67,554 3,579 4,133 14,280 40.1 5.3 Oct 31, 2025 J-GAAP
Oct - Dec, 2025 68,973 4,555 6,258 9,432 26.7 6.6 Jan 30, 2026 J-GAAP
YoY -13.1% -36.4% +411.3% +58.2% +67.1%

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