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Nippon Yusen Kabushiki Kaisha, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 3%

Wed Feb 4, 2026 12:00 pm JST Earnings

9101 Nippon Yusen Kabushiki Kaisha 【J-GAAP】

Earnings Report

Nippon Yusen Kabushiki Kaisha <9101> [TSE Prime] announced its financial results at noon (12:00) on February 4th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) significantly dropped 62.2% from the same period last year to 165 billion yen.

However, the full-year forecast for consolidated ordinary profit has been revised upward 2.6%, from the previous forecast of 190 billion yen to 195 billion yen (compared to 490 billion yen in the previous period), and the declining rate is expected to decrease from 61.3% to 60.3%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (second half) has been revised upward 7.9%, from the previous forecast of 63.1 billion yen to 68.1 billion yen (compared to 201 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 68.7% to 66.2%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit significantly dropped to 38.2 billion yen, a 74.0% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.5% in the same period last year to 5.1%.

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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 1,789,217 144,271 200,265 153,574 309.9 76.6 Feb 5, 2024 J-GAAP
Apr - Dec, 2024 1,976,959 178,149 436,429 395,485 878.5 88.9 Feb 5, 2025 J-GAAP
Apr - Dec, 2025 1,812,073 100,122 165,078 146,962 347.3 84.7 Feb 4, 2026 J-GAAP
YoY -8.3% -43.8% -62.2% -62.8% -60.5%

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 1,167,899 51,954 63,167 107,748 263.6 110 Nov 6, 2025 J-GAAP
Oct - Mar, 2025 New 1,207,899 51,954 68,167 107,748 263.6 110 Feb 4, 2026 J-GAAP
Revision Rate +3.4% 0.0% +7.9% 0.0% 0.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 2,350,000 120,000 190,000 210,000 513.7 225 Nov 6, 2025 J-GAAP
Mar, 2026 New 2,390,000 120,000 195,000 210,000 513.7 225 Feb 4, 2026 J-GAAP
Revision Rate +1.7% 0.0% +2.6% 0.0% 0.0%

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 1,271,884 95,192 201,627 211,815 474.6 195 May 8, 2025 J-GAAP
Oct - Mar, 2025 Guidance 1,207,899 51,954 68,167 107,748 263.6 110 Feb 4, 2026 J-GAAP
YoY -5.0% -45.4% -66.2% -49.1% -44.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 2,387,240 174,679 261,341 228,603 468.1 140 May 8, 2024 J-GAAP
Mar, 2025 2,588,700 210,820 490,866 477,707 1,070.3 325 May 8, 2025 J-GAAP
Mar, 2026 Guidance 2,390,000 120,000 195,000 210,000 513.7 225 Feb 4, 2026 J-GAAP
YoY -7.7% -43.1% -60.3% -56.0% -52.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 660,143 62,521 147,190 129,593 287.9 9.5 Feb 5, 2025 J-GAAP
Jan - Mar, 2025 611,741 32,671 54,437 82,222 184.2 5.3 May 8, 2025 J-GAAP
Apr - Jun, 2025 600,926 37,788 59,755 52,078 120.9 6.3 Aug 5, 2025 J-GAAP
Jul - Sep, 2025 581,175 30,258 67,078 50,174 117.4 5.2 Nov 6, 2025 J-GAAP
Oct - Dec, 2025 629,972 32,076 38,245 44,710 105.7 5.1 Feb 4, 2026 J-GAAP
YoY -4.6% -48.7% -74.0% -65.5% -63.3%

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