On November 9, Japanese shipping giant Mitsui O.S.K. Lines announced its financial results for the second quarter of fiscal year 2026. For the three months ended September 30, revenue rose 24.5% year over year to JPY 544.03 billion, compared with JPY 437.07 billion in the same period last year. Operating profit edged down 1.8% to JPY 34.14 billion, from JPY 34.75 billion a year earlier. Net profit attributable to parent company shareholders increased by approximately 86.6%, from JPY 63.39 billion in the prior-year period to JPY 118.3 billion, driven primarily by yen depreciation and one-time accounting gains.
The Middle East conflict has disrupted global shipping, driving up sea freight rates and boosting transport demand in other regions, which in turn led to a significant increase in Mitsui O.S.K. Lines’ revenue. However, disruptions to shipping through the Strait of Hormuz and rising fuel prices also pushed up the company’s operating costs. In addition, higher vessel depreciation expenses and increased overseas logistics costs offset some of the gains from higher freight rates, leaving operating profit essentially unchanged.
Looking ahead to the full year, Mitsui O.S.K. Lines has maintained its earnings forecast for the fiscal year ending March 2027, projecting full-year revenue of JPY 2.37 trillion, operating profit of JPY 151 billion, and net profit of JPY 300 billion.
Source: Sina Finance