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Kawasaki Kisen KaishaKawasaki Kisen Kaisha, Ltd.9107東証プライム海運業FY ending Mar 2026, consolidated, J-GAAP

Kawasaki Kisen Kaisha revenue and profit

Out of every ¥100 of sales, about ¥8 is left as operating profit. Revenue changed -2.8% from the prior year, operating profit -18.2%.

Five-year trend

Revenue¥1.02T
FY ending Mar 2022: ¥757B¥757BFY ending Mar 2023: ¥942.6B¥942.6BFY ending Mar 2024: ¥957.9B¥957.9BFY ending Mar 2025: ¥1.05T¥1.05TFY ending Mar 2026: ¥1.02T¥1.02TFY22FY23FY24FY25FY26
Operating income¥84.2B
FY ending Mar 2022: ¥17.7B¥17.7BFY ending Mar 2023: ¥78.9B¥78.9BFY ending Mar 2024: ¥84.2B¥84.2BFY ending Mar 2025: ¥102.9B¥102.9BFY ending Mar 2026: ¥84.2B¥84.2BFY22FY23FY24FY25FY26
Operating margin8.3%
FY ending Mar 2022: 2.3%2.3%FY ending Mar 2023: 8.4%8.4%FY ending Mar 2024: 8.8%8.8%FY ending Mar 2025: 9.8%9.8%FY ending Mar 2026: 8.3%8.3%FY22FY23FY24FY25FY26

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin13.1%
Asset turnover0.45×
ROA5.8%
ROA5.8%
Financial leverage1.65×
ROE9.6%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin13.1%
2022: 84.9%84.9%2023: 73.7%73.7%2024: 10.6%10.6%2025: 29.1%29.1%2026: 13.1%13.1%2223242526
Asset turnover0.45×
2022: 0.48×0.48×2023: 0.52×0.52×2024: 0.46×0.46×2025: 0.49×0.49×2026: 0.45×0.45×2223242526
ROA5.8%
2022: 40.8%40.8%2023: 38.3%38.3%2024: 4.9%4.9%2025: 14.1%14.1%2026: 5.8%5.8%2223242526
Financial leverage1.65×
2022: 1.82×1.82×2023: 1.60×1.60×2024: 1.56×1.56×2025: 1.65×1.65×2026: 1.65×1.65×2223242526
ROE9.6%
2022: 74.3%74.3%2023: 61.4%61.4%2024: 7.6%7.6%2025: 23.3%23.3%2026: 9.6%9.6%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
202284.9%0.48×40.8%1.82×74.3%
202373.7%0.52×38.3%1.60×61.4%
202410.6%0.46×4.9%1.56×7.6%
202529.1%0.49×14.1%1.65×23.3%
202613.1%0.45×5.8%1.65×9.6%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue48.5%
2021: 62.6%62.6%2022: 50.5%50.5%2023: 39.5%39.5%2024: 42.8%42.8%2025: 46.6%46.6%2026: 48.5%48.5%212223242526
PPE ÷ total assets21.1%
2021: 40.2%40.2%2022: 24.3%24.3%2023: 18.1%18.1%2024: 19.5%19.5%2025: 22.1%22.1%2026: 21.1%21.1%212223242526

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Investment and working-capital efficiency

Track R&D investment and how long operating capital remains tied up before sales turn into cash.

R&D spending¥3.3B
2021: ¥162M¥162M2022: ¥224M¥224M2023: ¥271M¥271M2024: ¥342M¥342M2025: ¥2.01B¥2.01B2026: ¥3.3B¥3.3B212223242526
R&D / revenue0.3%
2021: 0.0%0.0%2022: 0.0%0.0%2023: 0.0%0.0%2024: 0.0%0.0%2025: 0.2%0.2%2026: 0.3%0.3%212223242526

R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.

Income statement (JPY millions)

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Revenue756,983942,606957,9391,047,9441,018,364
Cost of revenue681,606799,882798,337865,691849,455
Gross profit75,377142,724159,602182,253168,909
SG&A57,71463,86675,44879,39884,744
Operating income17,66378,85784,154102,85584,164
Pretax income659,093692,877130,891319,973132,477
Income tax12,459-6,11726,76712,377-3,964
Net income attributable to owners642,424694,904101,989305,384132,986
Operating margin2.3%8.4%8.8%9.8%8.3%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

Cash 14%
Property, plant and equipment 21%
0%
Investment securities 51%
Other assets 14%

Funding

Interest-bearing debt 10%
Other liabilities 11%
Equity 79%
0%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025FY ending Mar 2026
Cash and equivalents¥244.3B¥346.8B¥269.5B¥201.6B¥319.7B
Total assets¥1.57T¥2.05T¥2.11T¥2.21T¥2.34T
Net assets¥984.9B¥1.55T¥1.62T¥1.68T¥1.84T
Share capital¥75.5B¥75.5B¥75.5B¥75.5B¥75.5B
Property, plant and equipment¥382B¥372.1B¥410.3B¥488.7B¥493.6B
Intangible assets excluding goodwill¥3.51B¥3.81B¥6.04B¥7.27B¥10.4B
Investment securities¥691.8B¥1.07T¥1.14T¥1.23T¥1.2T
Current assets¥431.1B¥534.9B¥488.3B¥403.4B¥546.4B
Current liabilities¥251.5B¥185.4B¥209.9B¥205.5B¥235.2B
Short-term borrowings¥87.5B¥50.7B¥49.1B¥51.4B¥57.6B
Long-term borrowings¥278B¥267.3B¥206.1B¥229.8B¥157.1B
Bonds——¥8B¥14B¥21.3B
Interest-bearing debt——¥263.2Bderived¥295.3Bderived¥236Bderived
Total liabilities¥590.1B¥505.9B¥484.8B¥532.6B¥502B
Non-controlling interests¥100.2B¥31.3B¥32.7B¥29B¥39.3B
Equity attributable to owners of parent¥864.4B¥1.4T¥1.28T¥1.35T¥1.42T
Retained earnings¥777.1B¥1.3T¥1.18T¥1.25T¥1.31T
Treasury stock-¥2.38B-¥6.55B-¥7.65B-¥8.09B-¥7.69B

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第158期(2025/04/01－2026/03/31)

    ID S100YC6B2026-06-18Open

  • EDINET (FSA Japan)

    有価証券報告書－第157期(2024/04/01－2025/03/31)

    ID S100VYMJ2025-06-19Open

  • EDINET (FSA Japan)

    有価証券報告書－第156期(2023/04/01－2024/03/31)

    ID S100TMYK2024-06-21Open

  • EDINET (FSA Japan)

    有価証券報告書－第155期(2022/04/01－2023/03/31)

    ID S100QZPH2023-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第154期(令和3年4月1日－令和4年3月31日)

    ID S100O8Q82022-06-23Open

  • EDINET (FSA Japan)

    有価証券報告書－第153期(令和2年4月1日－令和3年3月31日)

    ID S100LLMF2021-06-23Open

Extracted from XBRL: 52 / Derived from other figures: 3

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