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Meiji Shipping, Ordinary Profit Forecast for the Fiscal Year Revised Downward by 71%

Fri Oct 31, 2025 1:00 pm JST Earnings

9115 Meiji Shipping Group Co., Ltd. 【J-GAAP】

Earnings Report

Meiji Shipping Group Co., Ltd. <9115> [TSE Std] announced its financial results in the afternoon session on October 31st (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) significantly dropped 82.8% from the same period last year to 0.35 billion yen, fell short of the previous forecast of 0.90 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 71.4%, from the previous forecast of 2.10 billion yen to 0.60 billion yen (compared to 9.13 billion yen in the previous period), leading to an increase in the profit decline rate from 77.0% to 93.4%.

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 96.6% from the same period last year to 0.24 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 1.50 billion yen (compared to a profit of 0.33 billion yen in the same period last year). The operating profit margin sharply declined from 14.3% in the same period last year to 5.6%.

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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 32,313 6,042 2,406 1,888 55.8 41.2 Oct 27, 2023 J-GAAP
Apr - Sep, 2024 32,899 5,465 2,077 775 23.0 22.7 Oct 31, 2024 J-GAAP
Apr - Sep, 2025 29,864 2,962 357 2,816 83.0 59.5 Oct 31, 2025 J-GAAP
YoY -9.2% -45.8% -82.8% +263.4% +261.5%

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 29,100 1,600 900 3,400 100.2 － May 15, 2025 J-GAAP
Apr - Sep, 2025 Results 29,864 2,962 357 2,816 83.0 － Oct 31, 2025 J-GAAP
Revision Rate +2.6% +85.1% -60.3% -17.2% -17.2%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 57,200 3,000 2,100 4,400 129.2 － May 15, 2025 J-GAAP
Mar, 2026 New 57,800 3,000 600 3,300 96.9 － Oct 31, 2025 J-GAAP
Revision Rate +1.0% 0.0% -71.4% -25.0% -25.0%

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 34,645 5,549 7,054 2,037 60.2 5 May 15, 2025 J-GAAP
Oct - Mar, 2025 Guidance 27,936 38 243 484 14.2 － Oct 31, 2025 J-GAAP
YoY -19.4% -99.3% -96.6% -76.2% -76.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 65,018 11,398 5,836 5,189 153.5 5 May 15, 2024 J-GAAP
Mar, 2025 67,544 11,014 9,131 2,812 83.1 5 May 15, 2025 J-GAAP
Mar, 2026 Guidance 57,800 3,000 600 3,300 96.9 － Oct 31, 2025 J-GAAP
YoY -14.4% -72.8% -93.4% +17.4% +16.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 16,930 2,415 332 -131 -3.9 14.3 Oct 31, 2024 J-GAAP
Oct - Dec, 2024 15,566 2,907 3,597 554 16.4 18.7 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 19,079 2,642 3,457 1,483 43.8 13.8 May 15, 2025 J-GAAP
Apr - Jun, 2025 15,373 2,150 1,862 2,895 85.3 14.0 Jul 30, 2025 J-GAAP
Jul - Sep, 2025 14,491 812 -1,505 -79 -2.3 5.6 Oct 31, 2025 J-GAAP
YoY -14.4% -66.4% － +39.7% +39.9%

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