NYK LineNippon Yusen Kabushiki Kaisha9101東証プライム海運業FY ending Mar 2026, consolidated, J-GAAP

NYK Line FY ending Mar 2026 results

About 35% of NYK Line's sales come from Logistics, with Dry Bulk and Automotive making up much of the rest.

Out of every ¥100 of sales, about ¥6 is left as operating profit.

Revenue changed -6.4% from the prior year, operating profit -34.3%.

Revenue and profit pattern

Revenue and profit down

Revenue -6.4% · profit -34.3%, calculated from disclosed figures.

Operating leverage: 5.37× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue
-6.4%¥2.59T → ¥2.42T
Gross profit
-8.5%¥469.3B → ¥429.4B
Operating income
-34.3%¥210.8B → ¥138.6B
Net income attributable to owners
-55.7%¥477.7B → ¥211.8B
Operating cash flow
-7.3%¥510.8B → ¥473.4B
Free cash flow
-44.5%¥304.2B → ¥168.9B

Results at a glance

  • Revenue for FY ending Mar 2026 was ¥2.42T, down 6.4% from ¥2.59T a year earlier.
  • Operating income dropped 34.3% from ¥210.8B to ¥138.6B, and net income fell 55.7% from ¥477.7B to ¥211.8B.
  • Operating cash flow slipped 7.3% to ¥473.4B, while free cash flow fell 44.5% to ¥168.9B.

What drove the change

  • Container freight rates weakened as new ships added capacity and tariffs and Middle East tensions unsettled trade, and profit at the ONE joint venture also declined
  • Nippon Cargo Airlines left the group through a share exchange with ANA Holdings, so the air cargo segment stopped including it partway through the year
  • A stronger yen and higher cargo-handling costs cut profit in the Automotive and Dry Bulk segments
  • Energy earned more as tanker rates rose and a new FPSO (a floating oil production vessel) started operating

Things to watch

  • The company expects container shipping profit to fall as ships keep sailing around the Cape of Good Hope and Middle East tensions push up costs
  • Goodwill amortization from buying a European healthcare logistics business is expected to reduce logistics profit
  • Assuming Middle East tensions persist, the company expects fewer cars to be shipped

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

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

※ Segment revenues include inter-segment sales and are scaled to consolidated revenue

Where ¥100 of sales goes

For every ¥100 NYK Line sells, how much goes where, and how much is kept.

FY ending Mar 2026
Cost of sales
¥82
SG&A
¥12
Operating profit
¥6
Net profit kept
¥9

Annual margin trends

Gross margin17.7%
FY ending Mar 2021: 14.5%14.5%FY ending Mar 2022: 19.9%19.9%FY ending Mar 2023: 19.5%19.5%FY ending Mar 2024: 17.3%17.3%FY ending Mar 2025: 18.1%18.1%FY ending Mar 2026: 17.7%17.7%FY21FY22FY23FY24FY25FY26
Operating margin5.7%
FY ending Mar 2021: 4.4%4.4%FY ending Mar 2022: 11.8%11.8%FY ending Mar 2023: 11.3%11.3%FY ending Mar 2024: 7.3%7.3%FY ending Mar 2025: 8.1%8.1%FY ending Mar 2026: 5.7%5.7%FY21FY22FY23FY24FY25FY26
Net margin8.7%
FY ending Mar 2021: 8.7%8.7%FY ending Mar 2022: 44.2%44.2%FY ending Mar 2023: 38.7%38.7%FY ending Mar 2024: 9.6%9.6%FY ending Mar 2025: 18.5%18.5%FY ending Mar 2026: 8.7%8.7%FY21FY22FY23FY24FY25FY26

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

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-第139期(2025/04/01-2026/03/31)

    ID S100YBT62026-06-16Open
  • EDINET (FSA Japan)

    有価証券報告書-第138期(2024/04/01-2025/03/31)

    ID S100VY802025-06-17Open
  • EDINET (FSA Japan)

    有価証券報告書-第137期(2023/04/01-2024/03/31)

    ID S100TNM12024-06-19Open
  • EDINET (FSA Japan)

    有価証券報告書-第136期(2022/04/01-2023/03/31)

    ID S100R01E2023-06-21Open
  • EDINET (FSA Japan)

    有価証券報告書-第135期(令和3年4月1日-令和4年3月31日)

    ID S100OBUO2022-06-22Open
  • EDINET (FSA Japan)

    有価証券報告書-第134期(令和2年4月1日-令和3年3月31日)

    ID S100LK5W2021-06-18Open

Extracted from XBRL: 55 / Derived from other figures: 2

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