Kawasaki Kisen Kaisha, Ltd. · TSE:9107
Kawasaki Kisen Kaisha — FY2025 Earnings Presentation
29 slides from Kawasaki Kisen Kaisha's earnings presentation, May 8, 2026
Slide 1: Financial Highlights Brief Report for Fiscal Year 2025
Financial Highlights Brief Report for F i s c a l Ye a r 2 0 2 5 May 8th, 2026 1
Slide 2: Index
∎A. Financial Highlights for Fiscal Year 2025 A-１ ：Financial Results for FY2025 A-２ ：Financial Results for FY2025 by Segment ∎B. Forecasts and Initiatives for Fiscal Year 2026 B-１ ：Forecasts for FY2026 and Key Factors B-２ ：Forecasts for FY2026 by Segment ∎C. Status and Progress of the Medium-term Ma
Slide 3: A. Financial Highlights for Fiscal Year 2025
A. Financial Highlights for Fiscal Year 2025 3
Slide 4: Financial Results for FY2025
A. Financial Highlights for Fiscal Year 2025 A-１： Financial Results for FY2025 ∎Financial Results FY2025 (billion yen) FY2025 FY2024 Operating Revenues and Profit/Loss Total Total １Q ２Q 1H ３Q ４Q 2H (a)-(b) (a) (b) Operating Revenues 244.9 255.6 500.5 267.1 250.6 517.7 1,018.3 1,047.9 -29.5 Operating
Slide 5: Financial Results for FY2025 by Segment
A. Financial Highlights for Fiscal Year 2025 A-２： Financial Results for FY2025 by Segment ∎Financial Results for FY2025 by Segment (billion yen) Business Segment FY2025 FY2024 (Upper row: Operating Revenues) Total Total １Q ２Q 1H ３Q ４Q 2H (e)-(f) (Lower row: Ordinary Income/Loss) (e) (f) 69.7 72.8 14
Slide 6: B. Forecasts and Initiatives for Fiscal Year 2026
B. Forecasts and Initiatives for Fiscal Year 2026 6
Slide 7: Forecasts for FY2026 and Key Factors
B. Forecasts and Initiatives for Fiscal Year 2026 B-１： Forecasts for FY2026 and Key Factors ∎Forecasts for FY2026 (billion yen) FY2026 FY2025 【Assumptions for FY2026 forecast】 Operating Revenues 1H 2H Total Total ‣ The closure of the Strait of Hormuz is and Profit/Loss (g)-(h) Forecast Forecast (g)
Slide 8: Forecasts for FY2026 by Segment
B. Forecasts and Initiatives for Fiscal Year 2026 B-２：Forecasts for FY2026 by Segment ∎Forecasts for FY2026 by Segment ∎ Key Factors by Segment (year-on-year comparison・excluding exchange rate impacts) (billion yen) Business Segment FY2026 FY2025 ‣ Dry Bulk (Upper row: Operating Revenues) 1H 2H Tota
Slide 9: C. Status and Progress of the Medium-term Management Plan
C. Status and Progress of the Medium-term Management Plan 9
Slide 10: Capital Policy Progress and Corporate Value Improvement
C. Status and Progress of the Medium-term Management Plan C-１：【Capital Policy】 Capital Policy Progress and Corporate Value Improvement We will promote the enhancement of “earning power,” while being mindful of optimal capital structure and cash allocation. By achieving both capital efficiency and fi
Slide 11: Cash Allocation
C. Status and Progress of the Medium-term Management Plan C-２： 【Capital Policy】 Cash Allocation Operating cash flow is expected to be 1.5 trillion yen, whereas investment cash flow is expected to be 610.0 billion yen, and shareholder returns during the Medium-term Management Plan period is expected
Slide 12: Business Investment Plan
C. Status and Progress of the Medium-term Management Plan C-３： 【Capital Policy】 Business Investment Plan Based on the Medium-term Management Plan, with a focus on the three businesses that play a role in driving growth and on environmental initiatives, we will promote investments. By exercising inve
Slide 13: Shareholder's Return Policy
C. Status and Progress of the Medium-term Management Plan C-４： 【Capital Policy】 Shareholderʼs Return Policy The annual dividend forecast for FY2026 is 120 yen/share. The previously announced flexible additional shareholder returns of 50.0 billion yen or more will be executed during the current Mediu
Slide 14: D. Review of the Current Medium-term Management Plan and Key Priority for the Next
D. Review of the Current Medium-term Management Plan and Key Priority for the Next Medium-term Management Plan 14
Slide 15: Business Environment and Financial Results under the Current Medium-term Management Plan
D. Review of the Current Medium-term Management Plan and Key Priority for the Next Medium-term Management Plan D-１：Business Environment and Financial Results under the Current Medium-term Management Plan Amid rapid changes in the business environment, including geopolitical risks and trade policy de
Slide 16: Review of the Current Medium-term Management Plan
D. Review of the Current Medium-term Management Plan and Key Priority for the Next Medium-term Management Plan D-２：Review of the Current Medium-term Management Plan While progress has been made in stabilizing proprietary “K” Line’s own businesses and enhancing shareholder returns, challenges remain
Slide 17: Key Priority for the Next Medium-term Management Plan
D. Review of the Current Medium-term Management Plan and Key Priority for the Next Medium-term Management Plan D-３：Key Priority for the Next Medium-term Management Plan Toward achieving an ROE of 15% or higher over the medium to long term, we will pursue profit growth and capital efficiency improvem
Slide 18: Appendix
Appendix mmm KAWASAKI KISEN KAISHA, LID. 18
Slide 19: Further growth and improvement of corporate value
Appendix (C. Status and Progress of the Medium-term Management Plan) Current Medium-term Management Plan (FY22~FY26) 【Key Points】 We will steadily implement the capital policy, business strategy, and functional strategy outlined in the Medium-term Management Plan to achieve further growth and improv
Slide 20: Current Medium-term Management Plan Progress Overview
Appendix (C. Status and Progress of the Medium-term Management Plan) Current Medium-term Management Plan (FY22~FY26) 【Functional Strategy】 Progress Overview By strengthening our business foundation, which consists of the three functions of “Environment &Technology," “Safety & Ship Quality Management
Slide 21: Importance and progress of each business
Appendix (C. Status and Progress of the Medium-term Management Plan) Current Medium-term Management Plan (FY22~FY26) 【Business Strategy】 Importance and progress of each business Implement measures in line with the role of each business under the Medium-term Management Plan Through customer-oriented
Slide 22: Progress of three businesses that will drive growth
Appendix (C. Status and Progress of the Medium-term Management Plan) Current Medium-term Management Plan (FY22~FY26) 【Business Strategy】 Progress of three businesses that will drive growth and new business areas Coal/Iron Ore Car Carriers Leveraging safe operation, high-quality ship management, and
Slide 23: Changes in the Business Environment
Appendix (C. Status and Progress of the Medium-term Management Plan) Changes in the Business Environment The global business environment will remain uncertain due to factors such as emerging geopolitical risks, continued concerns about downward pressure on the global economy, and energy policy devel
Slide 24: Hormuz: Shipping Industry Environment
Appendix (C. Status and Progress of the Medium-term Management Plan) Shipping Industry Environment The business environment remains uncertain due to geopolitical factors, including the situation in the Middle East (Israel/U.S.–Iran, Israel–Palestine, the Red Sea situation, etc.) as well as U.S. secu
Slide 25: Market Results and Assumption/ Market Exposure
Appendix Market Results and Assumption/ Market Exposure ∎ Dry Bulk Market Results and Assumption FY2025 FY2026 Dry Bulk Market 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Total Forecast Forecast Forecast Forecast Forecast CAPE (BCI180/182)* $18,700 $24,700 $28,900 $22,900 $23,800 $31,850 $30,000 $31,000 $20,000 $28,200
Slide 26: Car Carriers Total Units Carried by Service Routes
Appendix Car Carriers Total Units Carried by Service Routes Total Units Carried FY2025 FY2026 1Q 2Q 3Q 4Q （1,000 units） 1Q 2Q 3Q 4Q Total Forecast Forecast Forecast Forecast Forecast Outbound 364 371 423 391 1,549 374 401 453 424 1,652 Homebound 58 54 45 40 197 59 51 54 55 218 Others 229 240 219 205
Slide 27: K Line Group Fleet Composition
Appendix “K” Line Group Fleet Composition FY2024 178 90 98 39 43 448 FY2025 163 100 99 36 42 440 0 100 200 300 400 500 Dry Bulk Energy Resource Transport Car Carriers Containerships Short Sea and Coastal Ships FY2025 FY2024 Owned Chartered Total Total Type of Vessel No. DWT(MT) No. DWT(MT) No. DWT(M
Slide 28: Vessels in Operation/New Building Delivery Schedule
Appendix “K” Line Group Vessels in Operation/New Building Delivery Schedule ∎ “K” Line Group Vessels in Operation ∎ Upcoming New Building Delivery Schedule Segment Business/ Vessel Type FY2024 FY2025 Number of Vessel 2026 2027 2028 CAPE 85 73 PANAMAX 41 35 CAPE 2 2 6 HANDYMAX 39 42 Dry Bulk SMALL HA
Slide 29: Disclaimer
【Disclaimer】 Information contained in this material is provided solely for informational purposes and is not an offer or a solicitation of an offer to buy or sell securities. You are requested to make investment decisions using your own judgment. 【Forward-looking statements】 This material contains f