Meiko Trans Co (9357) Q4 2025 earnings summary

Executive summary

• FY2025 revenue rose 4.9% YoY to ¥81,485 million; operating income grew 19.1% to ¥6,271 million, ordinary income 22.1% to ¥7,981 million and net income attributable to owners 18.5% to ¥5,380 million.

• Stronger coastal operations and Asian cargo handling, yen depreciation, and performance in the US and Asia supported growth; comprehensive income fell 57.2% to ¥5,772 million on lower other comprehensive income.

Financial highlights

• Gross profit increased to ¥17,545 million from ¥15,681 million; basic EPS rose to ¥180.00 from ¥152.15.

• Cash and cash equivalents were ¥25,014 million, up from ¥21,404 million; operating cash flow was ¥8,655 million, down from ¥10,021 million.

• FY2025 dividend was ¥46 per share, with a 25.6% payout ratio; the year-end dividend included commemorative and special dividends.

Outlook and guidance

• FY2026 revenue is forecast at ¥81,000 million, down 0.6% YoY; operating income at ¥5,900 million, down 5.9%; ordinary income at ¥7,500 million, down 6.0%.

• Net income attributable to owners is forecast at ¥5,200 million, down 3.3%; annual dividend is forecast at ¥70 per share, including a special dividend.

• Port cargo volumes are expected to remain level with the prior year; higher personnel and material costs are expected to weigh on operating income.