Meiko Trans Co (9357) Q4 2026 earnings summary

Executive summary

• FY2025 revenue rose 1.7% YoY to ¥82,861 million; operating income fell 2.5% to ¥6,115 million, while ordinary income rose 2.8% to ¥8,204 million and net income rose 9.9% to ¥5,911 million.

• Comprehensive income increased 198.1% YoY to ¥17,204 million, driven by gains in other comprehensive income.

• Coastal operations and air cargo growth offset weaker shipboard operations and US cargo handling; higher dividends and equity-method earnings supported profit below operating income.

Financial highlights

• Gross profit increased to ¥17,799 million from ¥17,545 million; basic EPS rose to ¥197.75 from ¥180.00.

• Equity-to-asset ratio was 77.4% at March 31, 2026; cash and cash equivalents were ¥23,816 million, down from ¥25,014 million.

• Annual dividend increased to ¥80 per share from ¥46; FY2026 total dividends were ¥2,390 million, with a 40.5% payout ratio.

Outlook and guidance

• FY2026 forecast: revenue ¥81,000 million (down 2.2% YoY), operating income ¥5,100 million (down 16.6%), ordinary income ¥6,700 million (down 18.3%), and net income ¥6,000 million (up 1.5%).

• Net income forecast reflects expected higher gains from sales of policy-held shares; annual dividend forecast is ¥100 per share.

• Forward-looking estimates are based on information available as of May 14, 2026, and actual results may differ due to risks and uncertainties.