Nippon Yusen Kabushiki Kaisha, Ordinary Profit Forecast for the Fiscal Year Revised Downward by 21%, Dividend Revised down by 10 Yen

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Thu Nov 6, 2025 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 November 6th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) significantly dropped 56.1% from the same period last year to 126 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 20.8%, from the previous forecast of 240 billion yen to 190 billion yen (compared to 490 billion yen in the previous period), leading to an increase in the profit decline rate from 51.1% to 61.3%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop 68.7% from the same period last year to 63.1 billion yen.

Due to a decline in performance, the company has reduced its planned annual dividend for the current fiscal year from the original plan of 235 yen to 225 yen (compared to 325 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 67.0 billion yen, a 59.0% decrease compared to the same period last year. The operating profit margin worsened from 7.5% in the same period last year to 5.2%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2023	1,168,335	98,786	159,297	113,390	225.0	61.0	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	1,316,816	115,628	289,239	265,892	585.6	58.9	Nov 6, 2024	J-GAAP
Apr - Sep, 2025	1,182,101	68,046	126,833	102,252	239.3	66.8	Nov 6, 2025	J-GAAP
YoY	-10.2%	-41.2%	-56.1%	-61.5%	-59.1%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2025 Guidance	1,190,000	75,000	146,000	127,000	300.5	115	Aug 5, 2025	J-GAAP
Apr - Sep, 2025 Results	1,182,101	68,046	126,833	102,252	239.3	115	Nov 6, 2025	J-GAAP
Revision Rate	-0.7%	-9.3%	-13.1%	-19.5%	-20.4%

Guidance Update

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	140,000	240,000	240,000	581.3	235	Aug 5, 2025	J-GAAP
Mar, 2026 New	2,350,000	120,000	190,000	210,000	508.6	225	Nov 6, 2025	J-GAAP
Revision Rate	0.0%	-14.3%	-20.8%	-12.5%	-12.5%

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	1,271,884	95,192	201,627	211,815	474.6	195	May 8, 2025	J-GAAP
Oct - Mar, 2025 Guidance	1,167,899	51,954	63,167	107,748	261.0	110	Nov 6, 2025	J-GAAP
YoY	-8.2%	-45.4%	-68.7%	-49.1%	-45.0%

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	2,350,000	120,000	190,000	210,000	508.6	225	Nov 6, 2025	J-GAAP
YoY	-9.2%	-43.1%	-61.3%	-56.0%	-52.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	665,102	49,750	163,452	155,658	342.8	7.5	Nov 6, 2024	J-GAAP
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
YoY	-12.6%	-39.2%	-59.0%	-67.8%	-65.7%