Seino Holdings Co (9076) Q3 2026 earnings summary

Executive summary

• Operating profit in the Transportation Business rose 34% year-over-year, driven by a recovery in cargo volumes and improved cost efficiency in long-haul truck dispatching.

• Consolidated revenue and operating profit increased by 12.9% and 27.8% year-over-year, respectively, with MD LOGIS contributing significantly to growth.

• MD LOGIS performed strongly, achieving 77.1% of full-year revenue and 88.6% of operating profit forecasts by Q3.

• Comprehensive income more than doubled year-over-year, reaching ¥28,593 million, a 104.5% increase.

Financial highlights

• Q3 consolidated operating revenue reached ¥611.4 billion, up 12.9% year-over-year; operating profit was ¥31.5 billion, up 27.8%.

• Net income attributable to owners increased 29.7% year-over-year to ¥18.4 billion.

• Gross margin improved by 0.3 points to 12.3%; operating margin rose 0.6 points to 5.2%.

• Basic earnings per share for the nine months was ¥123.31, up from ¥84.34 in the prior year.

• Total assets as of December 31, 2025, were ¥784,215 million, with net assets at ¥435,390 million and an equity-to-asset ratio of 52.2%.

Outlook and guidance

• Full-year forecasts remain unchanged despite solid Q3 performance, as LTL volume and unit prices fell short of assumptions.

• FY ending March 2026 guidance: operating revenue ¥813.7 billion (+10.4% YoY), operating profit ¥37.6 billion (+25.8% YoY), net income ¥22.0 billion (+14.3% YoY).

• Full-year basic earnings per share is forecast at ¥147.35.

• LTL cargo volume forecast at 99.5% of prior year; unit price at 104.5%.