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Kawasaki Kisen, Net Income Forecast for the Fiscal Year Revised Upward by 10%

Tue Feb 3, 2026 3:30 pm JST Earnings

9107 Kawasaki Kisen Kaisha, Ltd. 【J-GAAP】

Earnings Report

Kawasaki Kisen Kaisha, Ltd. <9107> [TSE Prime] announced its financial results after the market closed on February 3rd (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2026 (April to December) significantly dropped 64.0% from the same period last year to 102 billion yen.

However, the full-year forecast for consolidated net income has been revised upward 9.5%, from the previous forecast of 105 billion yen to 115 billion yen (compared to 305 billion yen in the previous period), and the declining rate is expected to decrease from 65.6% to 62.3%.

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) has been revised upward 27.5%, from the previous forecast of 36.3 billion yen to 46.3 billion yen (compared to 122 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 70.2% to 62.0%.

In the most recent three-month period, from October to December (3Q), the consolidated net income significantly dropped to 33.9 billion yen, a 66.5% decrease compared to the same period last year. The operating profit margin decreased from 11.7% in the same period last year to 9.6%.

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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 715,410 70,173 98,515 74,162 102.2 74.2 Feb 2, 2024 J-GAAP
Apr - Dec, 2024 804,959 92,245 288,854 284,711 423.2 93.8 Feb 4, 2025 J-GAAP
Apr - Dec, 2025 767,734 68,721 88,628 102,602 162.4 88.6 Feb 3, 2026 J-GAAP
YoY -4.6% -25.5% -69.3% -64.0% -61.6%

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 483,435 43,045 40,331 36,368 57.5 60 Nov 5, 2025 J-GAAP
Oct - Mar, 2025 New 505,435 41,045 40,331 46,368 73.4 60 Feb 3, 2026 J-GAAP
Revision Rate +4.6% -4.6% 0.0% +27.5% +27.5%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 984,000 86,000 100,000 105,000 166.1 120 Nov 5, 2025 J-GAAP
Mar, 2026 New 1,006,000 84,000 100,000 115,000 181.9 120 Feb 3, 2026 J-GAAP
Revision Rate +2.2% -2.3% 0.0% +9.5% +9.5%

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 509,929 41,715 120,764 122,166 184.1 50 May 7, 2025 J-GAAP
Oct - Mar, 2025 Guidance 505,435 41,045 40,331 46,368 73.4 60 Feb 3, 2026 J-GAAP
YoY -0.9% -1.6% -66.6% -62.0% -60.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 957,939 84,154 132,728 101,989 141.4 83.33 May 7, 2024 J-GAAP
Mar, 2025 1,047,944 102,855 308,089 305,384 460.1 100 May 7, 2025 J-GAAP
Mar, 2026 Guidance 1,006,000 84,000 100,000 115,000 181.9 120 Feb 3, 2026 J-GAAP
YoY -4.0% -18.3% -67.5% -62.3% -60.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 266,944 31,105 101,529 101,493 150.9 11.7 Feb 4, 2025 J-GAAP
Jan - Mar, 2025 242,985 10,610 19,235 20,673 31.2 4.4 May 7, 2025 J-GAAP
Apr - Jun, 2025 244,918 19,842 21,684 29,947 47.4 8.1 Aug 4, 2025 J-GAAP
Jul - Sep, 2025 255,647 23,113 37,985 38,685 61.2 9.0 Nov 5, 2025 J-GAAP
Oct - Dec, 2025 267,169 25,766 28,959 33,970 53.8 9.6 Feb 3, 2026 J-GAAP
YoY +0.1% -17.2% -71.5% -66.5% -64.4%

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