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SG Holdings (9143) investor relations material
SG Holdings Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Operating revenue for the nine months ended December 31, 2025, rose 9.9% year-over-year to ¥1,230.0 billion, while operating income declined 5.2% to ¥72.5 billion due to increased costs and delivery delays.
Net income attributable to owners fell 13.4% year-over-year to ¥44.4 billion, impacted by an extraordinary loss from the transfer of equity interest in a subsidiary.
Comprehensive income increased slightly to ¥56,288 million, up 0.8% year-over-year.
Delivery volumes exceeded forecasts, but unplanned delivery delays in late November led to additional costs and a shortfall in income compared to plan.
Extraordinary losses from the transfer of equity in Shanghai Runbow Logistics & Technology Co., Ltd. were recorded.
Financial highlights
Operating revenue: ¥1,230.0 billion (+9.9% YoY); operating income: ¥72.5 billion (-5.2% YoY); net income: ¥44.4 billion (-13.4% YoY).
Ordinary income decreased 5.3% year-over-year to ¥73,070 million.
Basic net income per share was ¥73.74, down from ¥82.11 in the prior year period.
Total assets increased to ¥1,268,903 million, up ¥228,287 million from March 31, 2025, mainly due to the consolidation of Morrison Express Worldwide Corporation.
Equity ratio declined to 41.7% from 55.8% due to Morrison acquisition.
Outlook and guidance
Full-year operating revenue forecast maintained at ¥1,635.0 billion (+11% YoY); operating income forecast revised down to ¥90.0 billion (+2.5% YoY).
Net income forecast at ¥59.0 billion (+1.5% YoY); ROE expected at 10.5%.
Dividend forecast for the fiscal year ending March 31, 2026 is ¥53.00 per share.
The company revised its consolidated earnings forecast on February 6, 2026, but maintained its dividend forecast.
Global Logistics Business outlook revised downward due to weaker-than-expected freight rates and Expolanka's performance.
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