Mitsui O.S.K.Lines, Ordinary Profit Forecast for the Fiscal Year Revised Downward by 11%, Dividend Revised Upward by 25 Yen

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Tue Nov 4, 2025 12:00 pm JST Earnings

9104 Mitsui O.S.K.Lines,Ltd. 【J-GAAP】

Earnings Report

Mitsui O.S.K.Lines,Ltd. <9104> [TSE Prime] announced its financial results at noon (12:00) on November 4th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) significantly dropped 54.3% from the same period last year to 114 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 10.6%, from the previous forecast of 170 billion yen to 152 billion yen (compared to 419 billion yen in the previous period), leading to an increase in the profit decline rate from 59.5% to 63.8%.

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 77.8% from the same period last year to 37.3 billion yen.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 175 yen to 200 yen (compared to 360 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 62.3 billion yen, a 56.2% decrease compared to the same period last year. The operating profit margin decreased from 10.5% in the same period last year to 7.9%.

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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	790,102	49,300	154,531	150,792	416.7	59.7	Oct 31, 2023	J-GAAP
Apr - Sep, 2024	900,628	89,379	250,922	248,591	686.0	59.8	Oct 31, 2024	J-GAAP
Apr - Sep, 2025	869,772	71,823	114,607	116,209	337.3	75.4	Nov 4, 2025	J-GAAP
YoY	-3.4%	-19.6%	-54.3%	-53.3%	-50.8%

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	871,000	61,000	105,000	112,000	326.3	85	Aug 1, 2025	J-GAAP
Apr - Sep, 2025 Results	869,772	71,823	114,607	116,209	337.3	85	Nov 4, 2025	J-GAAP
Revision Rate	-0.1%	+17.7%	+9.1%	+3.8%	+3.4%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	1,731,000	106,000	170,000	200,000	582.3	175	Aug 1, 2025	J-GAAP
Mar, 2026 New	1,750,000	104,000	152,000	180,000	524.1	200	Nov 4, 2025	J-GAAP
Revision Rate	+1.1%	-1.9%	-10.6%	-10.0%	-10.0%

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	874,842	61,472	168,781	176,901	493.3	180	Apr 30, 2025	J-GAAP
Oct - Mar, 2025 Guidance	880,228	32,177	37,393	63,791	185.7	115	Nov 4, 2025	J-GAAP
YoY	+0.6%	-47.7%	-77.8%	-63.9%	-62.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	1,627,912	103,132	258,986	261,651	722.9	220	Apr 30, 2024	J-GAAP
Mar, 2025	1,775,470	150,851	419,703	425,492	1,186.6	360	Apr 30, 2025	J-GAAP
Mar, 2026 Guidance	1,750,000	104,000	152,000	180,000	524.1	200	Nov 4, 2025	J-GAAP
YoY	-1.4%	-31.1%	-63.8%	-57.7%	-55.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	464,679	48,852	142,383	141,600	390.7	10.5	Oct 31, 2024	J-GAAP
Oct - Dec, 2024	418,048	32,942	123,947	119,542	331.0	7.9	Jan 31, 2025	J-GAAP
Jan - Mar, 2025	456,794	28,530	44,834	57,359	160.0	6.2	Apr 30, 2025	J-GAAP
Apr - Jun, 2025	432,704	37,078	52,233	52,817	152.9	8.6	Aug 1, 2025	J-GAAP
Jul - Sep, 2025	437,068	34,745	62,374	63,392	184.0	7.9	Nov 4, 2025	J-GAAP
YoY	-5.9%	-28.9%	-56.2%	-55.2%	-52.9%