Mitsui O.S.K. LinesMitsui O.S.K. Lines, Ltd.9104東証プライム海運業FY ending Mar 2026, consolidated, J-GAAP

Mitsui O.S.K. Lines FY ending Mar 2026 results

About 32% of Mitsui O.S.K. Lines's sales come from Vehicle Transport, Terminal and Logistics, with Energy Business and Dry Bulk Business making up much of the rest.

Out of every ¥100 of sales, about ¥7 is left as operating profit.

Revenue changed +2.8% from the prior year, operating profit -15.8%.

Revenue and profit pattern

Revenue up, profit downRevenue grew faster

Revenue +2.8% · profit -15.8%, calculated from disclosed figures.

Operating leverage: -5.66× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue: +2.8%¥1.78T → ¥1.83T
Gross profit: +3.1%¥317.7B → ¥327.6B
Operating income: -15.8%¥150.9B → ¥127B
Net income attributable to owners: -49.9%¥425.5B → ¥213.3B
Operating cash flow: +25.1%¥360.5B → ¥451B
Free cash flow: Loss-¥93.7B → -¥88.1B

Results at a glance

Revenue for the FY ending Mar 2026 was ¥1.83T, up +2.8% from ¥1.78T.
Profits went the other way: operating income dropped from ¥150.9B to ¥127B (-15.8%), and net income from ¥425.5B to ¥213.3B (-49.9%).
Operating cash flow grew to ¥451B (+25.1%), but capital spending of ¥539B kept free cash flow negative at -¥88.1B, as in the prior year.

What drove the change

Sales growth came from the energy and car-shipping businesses.
Container freight rates kept falling as newly built ships added capacity, so profits at the container line it invests in dropped sharply.
Demand for car shipping held up, but port congestion and the Middle East situation made scheduling harder, and inflation pushed up costs.
Net income included gains from selling fixed assets and investment securities, but weaker recurring profit drove the decline.

Things to watch

For the next year, the company expects lower profit, citing weaker cargo volumes under major countries' trade policies and a stronger yen.
Swings in shipping markets, weaker customer credit, and political or economic shifts in the countries it works in can hurt results.
Ships are held for a long time, so advances in digital and alternative-fuel technology could make them outdated and require extra investment.

Annual Securities Report / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

For every ¥100 Mitsui O.S.K. Lines sells, how much goes where, and how much is kept.

FY ending Mar 2026

Cost of sales: ¥82
SG&A: ¥11
Operating profit: ¥7
Net profit kept: ¥12

Annual margin trends

Gross margin17.9%

Operating margin7.0%

Net margin11.7%

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Vehicle Transport, Terminal and Logistics¥587.9B
32%
Op. margin 11.8%Industry: Warehouses & Logistics Facilities
Energy Business¥525.8B
29%
Op. margin 10.6%Industry: Shipping
Dry Bulk Business¥455.7B
25%
Op. margin 2.4%Industry: Shipping
Ferries and Coastal RoRo Ships, Cruise Businesses¥73.4B
4%
Op. margin -13.0%Industry: Shipping
Associated Businesses¥58.3B
3%
Op. margin 6.3%
Containerships¥53.6B
3%
Op. margin 49.7%Industry: Shipping
Real estate Business¥48.9B
3%
Op. margin 13.8%Industry: Real Estate Development & Leasing
Other¥21.5B
1%
Op. margin 20.6%

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

EDINET (FSA Japan)
有価証券報告書
ID S100YI2T2026-06-23Open
EDINET (FSA Japan)
有価証券報告書
ID S100W1NC2025-06-23Open
EDINET (FSA Japan)
訂正有価証券報告書
ID S100ULJW2024-10-30Open
EDINET (FSA Japan)
訂正有価証券報告書
ID S100RAW42023-06-30Open
EDINET (FSA Japan)
有価証券報告書
ID S100OAA82022-06-21Open
EDINET (FSA Japan)
有価証券報告書
ID S100LL1R2021-06-22Open

Extracted from XBRL: 56 / Derived from other figures: 2

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