Nippon Express Holdings, Inc. · TSE:9147
Nippon Express — Q3 2025 Earnings Presentation
31 slides from Nippon Express's earnings presentation, Nov 12, 2025
Slide 1: Financial Results Presentation for Q3, Fiscal Year Ending December 2025
Financial Results Presentation for Q3, Fiscal Year Ending December 2025 November 12, 2025 NIPPON EXPRESS HOLDINGS, INC. Investor Relations Promotion Group Corporate Planning Division
Slide 2: Contents
Contents 1. Financial Results for Q3, FY2025 P.4- 2. Business Plan 2028 Initiatives P.16 - 3. Forecast for FY2025 P.21 - 4. Return to Shareholders P.28 - Financial Results Presentation for Q3, 1 Fiscal Year Ending December 2025 Copyright © 2025 NIPPON EXPRESS HOLDINGS,INC., All rights reserved.
Slide 3: Financial Results for Q3, FY2025 Executive Summary
Financial Results for Q3, FY2025 Executive Summary Financial Results for Q3, FY2025 Results Vs. Q3, FY2024 ✓ With the negotiated agreement among countries on U.S. tariff policy, we expect international logistics demand to begin to +¥8.3 billion recover. However, a full-scale recovery will likely tak
Slide 4: Financial Results Forecast for FY2025 Executive Summary
Financial Results Forecast for FY2025 Executive Summary Forecast for FY2025 Forecast Vs. FY2024 ✓ In light of the results of in the third quarter and a +¥2.3 billion comprehensive consideration of the future outlook, we Revenues ¥2,580.0 billion +0.1% revised revenues, operating income, and every pr
Slide 5: 1. Financial Results for Q3, FY2025
1. Financial Results for Q3, FY2025 A. Financial Results Highlights for Q3, FY2025 (Jan-Sep) P.5- B. Breakdown of Revenues and Operating Income P.7- C. Q3, FY2025 vs. Q2, FY2025 P.9- D. Income and Expenses by Business P.11- E. Air Forwarding Gross Profit P.13- F. Ocean Forwarding Gross Profit P.15 F
Slide 6: 1-A. Financial Results Highlights for Q3, FY2025 (Jan-Sep)
1-A. Financial Results Highlights for Q3, FY2025 (Jan-Sep) (100 million yen, %) (rounded down to 100 million yen) Current- *Prior-Year Year Item Results Difference Difference FY2025 Q3 FY2024 Q3 Difference Results ※ Difference (Jan-Sep YoY YoY (%) Results Results (%) (Jan-Sep 2024) 2025) Revenues 19
Slide 7: 1-A. Financial Results Highlights for Q3, FY2025 (Jan-Sep) by Segment
1-A. Financial Results Highlights for Q3, FY2025 (Jan-Sep) (100 million yen, %) (rounded down to 100 million yen) Segment Item Current-Year Results *Prior-Year Results (Jan-Sep 2025) (Jan-Sep 2024) Difference YoY Difference YoY (%) Revenues 9,396 9,283 113 1.2 Japan Segment income (business profit)
Slide 8: 1-B. Breakdown of Revenues
1-B. Breakdown of Revenues and Operating Income Revenues ✓ Logistics Japan posted higher revenues due to an increase in air export freight forwarding unit sales prices, rate revisions, and other factors. ✓ Logistics Overseas saw a decrease in revenues due to weak logistics demand, despite the impact
Slide 9: 1-B. Breakdown of Operating Income
1-B. Breakdown of Revenues and Operating Income Operating ✓ Domestic Business profit increased with improvements at subsidiaries and the impact of rate revisions. ✓ Overseas Business posted lower profit, mainly due to lower profit in Europe, where weak economic conditions continue. Income ✓ Logistic
Slide 10: 1-C. Q3, FY2025 vs. Q2, FY2025
1-C. Financial Results for Q3, FY2025 Q3, FY2025 vs. Q2, FY2025 (100 million yen, %) (rounded down to 100 million yen) Item FY2025 Q3 FY2025 Q2 Difference Difference Results Results (%) Revenues 6,366 6,267 98 1.6 Consolidated Segment 179 178 1 (0.7) Income (business profit) Business Profit Ratio 2.
Slide 11: 1-C. Q3 vs. Q2 FY2025 (by Segment)
1-C. Financial Results for Q3, FY2025 Q3, FY2025 vs. Q2, FY2025 (by Segment) (100 million yen, %) (rounded down to 100 million yen) Segment Item FY2025 Q3 Results FY2025 Q2 Results Difference Difference (%) Revenues 3,137 3,134 2 0.1 Japan Segment income (business profit) 139 118 20 17.6 Revenues 34
Slide 12: 1-D. Income and Expenses by Business
1-D. Income and Expenses by Business (100 million yen, %) (rounded down to 100 million yen) Quarterly, Year-on-Year Trend Analysis (Logistics Japan) Difference Difference Air: Revenues and profit decreased quarter on quarter due to lower volume, lower unit sales prices, and lower FY2024 FY2025 (QoQ)
Slide 13: 1-D. Income and Expenses by Business
1-D. Income and Expenses by Business Difference Difference Segment FY2024 FY2025 (QoQ) (YoY) (100 million yen, %) (rounded down to 100 million yen) Q1 Q2 Q3 Q4 Cumulative Q1 Q2 Q3 Q3 vs. Q2 Q3 vs. Prior Q3 Difference Difference FY2024 FY2025 Revenues 99 112 103 95 411 91 89 90 1 (12) (QoQ) (YoY) Air
Slide 14: 1-E. Air Forwarding Gross Profit Japan Segment
1-E. Air Forwarding Gross Profit Japan Segment ✓ Volume was lower than expected both year on year and quarter on quarter due to a negative rebound from automobile- related spot revenue in the previous fiscal year and a decrease in semiconductor manufacturing equipment volume. Gross profit per unit a
Slide 15: 1-E. Air Forwarding Gross Profit Overseas Segment
1-E. Air Forwarding Gross Profit Overseas Segment ✓ Volume increased year on year and quarter on quarter—and exceeded expectations—mainly due to higher volumes of e-commerce-related cargo and semiconductor-related cargo. Gross profit per unit was lower than expected due to a decline in unit sales pr
Slide 16: 1-F. Ocean Forwarding Gross Profit Japan/Overseas
1-F. Ocean Forwarding Gross Profit Japan/Overseas ✓ Due to a tending shift to BCO among customers, volume from Japan and from overseas declined year on year. On a quarter-on-quarter basis, transportation from overseas was level with Q2; however, the decrease in transportation from Japan resulted in
Slide 17: 2. Business Plan 2028 Initiatives
2. Business Plan 2028 Initiatives A. Business Plan 2028 Basic Policy P.17 B. Global Business Growth: Priority Industries P.18 C. Global Business Growth: Major KPIs and Policies P.19 D. Rebuild Businesses in Japan P.20 Financial Results Presentation for Q3, 16 Fiscal Year Ending December 2025 Copyrig
Slide 18: 2-A. Business Plan 2028 Basic Policy
2-A. Business Plan 2028 Basic Policy Major Strategies and Policies in Business Plan 2028 ⚫ Improve global competitiveness and achieve business growth under groupwide optimization. ⚫ Increase competitiveness and profitability of businesses and enhance financial value through well-balanced strategic p
Slide 19: 2-B. Global Business Growth Priority Industries
2-B. Global Business Growth Priority Industries (100 million yen, %) (rounded down to 100 million yen) 2025 2024 Difference YoY Priority Industry Jan-Sep Jan-Sep (%) 2028 Targets Results Results Technology Core Domain: Electric & Electronics 2,211 2,267 (2.5)% 4,000 Growth, Pursuit Domains: Industri
Slide 20: 2-C. Global Business Growth Major KPIs and Policies
2-C. Global Business Growth Major KPIs and Policies 2025 Jan-Sep 2024 Jan-Sep Expand Forwarding Sales YoY (%) 2028 Targets Results Results Air Cargo Forwarding Volume 678kt 680kt (0.3)％ 1,300kt Ocean Forwarding Volume 629 thousand TEU 669 thousand TEU (5.9)% 1,400 thousand TEU 2025 Jan-Sep 2024 Jan-
Slide 21: 2-D. Rebuild Businesses in Japan
2-D. Rebuild Businesses in Japan Transform Into a More Continue to Enhance Domestic (1) (2) (3)Ongoing Transformation and Review Customer-Oriented Company Businesses in Japan of Business Infrastructure Establish an Account Management Structure Initiatives to Improve Profitability Initiatives Toward
Slide 22: 3. Forecast for FY2025
3. Forecast for FY2025 A. Forecast for FY2025 P.22- B. Revision of earnings forecast P.24 C. Initiatives to Achieve Operating Income of ¥100 Billion in FY2026 P.25 D. Breakdown of Revenues and Operating Income P.26- Financial Results Presentation for Q3, 21 Fiscal Year Ending December 2025 Copyright
Slide 23: 3-A. Forecast for FY2025
3-A. Forecast for FY2025 (100 million yen, %) (rounded down to 100 million yen) Full-Year Item Full-Year Prior-Year Difference YoY Forecast Difference YoY Difference Difference (%) Forecast Results (%) (Announced September 17) Revenues 25,800 25,776 23 0.1 26,000 (200) (0.8) Segment income 700 635 6
Slide 24: 3-A. Forecast for FY2025 (by Segment)
3-A. Forecast for FY2025 (by Segment) (100 million yen, %) (rounded down to 100 million yen) Full-Year Segment Item Full-Year Prior-Year Difference Difference Forecast Difference Difference Forecast Results YoY YoY (%) (Announced (%) August 8) Revenues 12,580 12,620 (40) (0.3) 12,630 (50) (0.4) Japa
Slide 25: 3-B. Revision of Earnings Forecast
3-B. Revision of earnings Forecast (100 million yen, %) (rounded down to 100 million yen) Business Operating Profit profit income Attributable Second career support (including -9billion) Announced September 17 700 610 340 Profit from the sale of low-yield real estate : Approximately 7 billion yen In
Slide 26: 3-C. Initiatives to Achieve Operating Income of ¥100 Billion in FY2026
3-C. Initiatives to Achieve Operating Income of ¥100 Billion in FY2026 FY2025 Full-Year ¥70 billion ※Excluding impairment losses, gains on land sales, Operating Income Full-Year Forecast and other temporary gains or losses Initiatives to Achieve Operating Income of ¥100 Billion 1. Grow business prof
Slide 27: 3-D. Forecast for FY2025 Breakdown of Revenues
3-D. Forecast for FY2025 Breakdown of Revenues and Operating Income Revenue s27,000 26,500 Logistics Heavy Haulage & Support Overseas Construction 26,000 255 Business (100 million yen) 25,776 14 25,800 9 9 (40) (196) (27) Impact of 25,500 Security Increase in foreign Logistics Transportation Japan a
Slide 28: 3-D. Forecast for FY2025 Breakdown of Operating Income
3-D. Forecast for FY2025 Breakdown of Revenues and Operating Income Operating income Business profit: +¥6.4 billon Business Profit 1200 FY2024 Results 635 Real Estate Goodwill 1100 Forecast for Fiscal Year 700 Sale Impairment Loss on Ending December 2025 537 business transfer 1000 (100 million yen)
Slide 29: 4. Return to Shareholders
4. Return to Shareholders Capital Policies and Key Indicators P.29 Financial Results Presentation for Q3, 28 Fiscal Year Ending December 2025 Copyright © 2025 NIPPON EXPRESS HOLDINGS,INC., All rights reserved.
Slide 30: 4. Capital Policies and Key Indicators
4. Capital Policies and Key Indicators Business Plan 2028 • ROE: Over 10％ • Total return ratio: Over 55% (cumulative total FY2024-FY2028) Targets • Equity ratio: Target 35% • Dividend payout ratio: Over 40% • Minimum Dividend: ¥100 （Annual, Per Share） (100 million yen) Total dividend Treasury share
Slide 31: Disclaimer
No information contained in this document is intended to solicit purchase or sale of the Company’s shares. Views, forecasts, and other forward-looking statements contained in this document are based on the Company’s assumptions, judgments and beliefs in light of the information currently available t
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