Kanda Holdings (9059) Q4 2025 earnings summary

Executive summary

• FY2025 revenue rose 1.7% to ¥52,009 million and operating income increased 0.1% to ¥3,436 million; net income fell 2.9% to ¥2,206 million.

• Domestic logistics revenue and profit improved with existing-account growth and better freight rates; international revenue rose as volumes recovered, but higher ocean-freight costs weighed on profit.

• The FY2026–FY2028 plan targets ¥56,500 million revenue and ¥4,000 million ordinary income by FY2028, with investment in logistics assets, DX and growth capabilities.

Financial highlights

• FY2025 ordinary income was ¥3,499 million; operating margin was 6.6% and net margin 4.2%.

• Total assets were ¥47,484 million and net assets ¥25,766 million at year-end, versus ¥46,729 million and ¥24,025 million a year earlier.

• Cash and cash equivalents rose ¥909 million to ¥9,170 million at year-end.

• Operating cash flow was ¥3,796 million, investing cash flow -¥1,132 million and financing cash flow -¥1,760 million.

• FY2025 annual dividend was ¥21 per share, with a 20.4% payout ratio.

Outlook and guidance

• FY2026 targets include revenue of ¥52,300 million, operating profit of ¥3,600 million, ordinary income of ¥3,650 million and net income of ¥2,373 million.

• FY2026 annual dividend is forecast at ¥23 per share, with a projected payout ratio of 20.8%.

• FY2028 targets are revenue of ¥56,500 million, ordinary income of ¥4,000 million and net income of ¥2,600 million; ordinary income margin is forecast at 7.1%.

• The 2026–2028 plan emphasizes existing-business growth, international logistics, new services, operational capability, workforce development and organizational reform.

• A 10-year vision targets ¥80 billion in revenue, with growth expected from existing businesses, M&A and new businesses.