Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
January 30, 2026
Company name: NS UNITED KAIUN KAISHA, LTD.
Listing: Tokyo Stock Exchange (TSE) Prime Market Securities code: 9110 URL: https://www.nsuship.co.jp
Representative: Kazuma Yamanaka, President and Representative Director
Inquiries: Shizuhiko Ishida, Group Manager, Corporate Strategy & Planning Group Phone: 81-3-6895-6411
The company has decided to revise its forecasts announced on October 31, 2025, on our consolidated operating performance and dividend distribution for the fiscal year ending March 2026.
-
Revision of Operating Performance Forecasts
Revision of consolidated operating performance forecast for the fiscal year ending March 2026
(April 1, 2025-March 31, 2026) (Million yen)
Revenues
Operating
Profit
Ordinary
Profit
Profit Attributable to
Owners of Parent
Profit per Share
(yen)
Previous forecast (A)
(as announced on October 31, 2025)
212,000
18,500
16,500
18,900
802.02
Revised forecast (B)
224,000
18,900
17,100
20,800
882.64
Change (B - A)
12,000
400
600
1,900
-
Percentage change (%)
5.7
2.2
3.6
10.1
-
Reference: Results of previous fiscal year
(The fiscal year ended March
2025)
247,408
20,224
19,015
18,621
790.18
Reason for announcement
In the business environment surrounding our company, business results in the first half of the fiscal year exceeded initial forecasts, mainly due to firm demand for transportation of iron ore and grain, which are major cargoes. In the second half of the fiscal year, the shipping market experienced a period of demand from September onward, and shipments from Brazil and Australia, which were at their peak in December, remained firm, mainly for large vessels. In addition, the yen continued to weaken, and net sales and profit at each stage in the consolidated cumulative third quarter of the fiscal year exceeded forecasts.
As for the dry bulk market in the fourth quarter, although the market is expected to decline due to seasonal factors such as the onset of Chinese New Year and the stagnation of iron ore and grain shipments due to the rainy season in South America, the consolidated cumulative results for the third quarter under review were
stronger than expected. Therefore, the Company has revised the full-year consolidated earnings forecast for the fiscal year ending March 2026 announced on October 31, 2025, as described above.
(Note 1) Above forecast is based on available information as of the release date of this report. The actual
operating performance may be different from this forecast statement, due to various unforeseen factors. (Note 2) Please refer to "Consolidated Financial Results for the Nine Months Ended December 31, 2025 (Under
Japanese GAAP)" released on January 30, 2026, for the assumptions on the conversion rate to U.S. dollars and fuel oil prices.
- Revision of Dividend Distribution Forecast
Revision of dividend forecast for the fiscal year ending March 2026
Annual dividends (yen)
2nd quarter-end
Fiscal-year end
Total
Previous forecast
(as announced on October 31, 2025)
140.00
245.00
Revised forecast
160.00
265.00
Actual results for the current fiscal year
105.00
Reference: Actual results for the previous fiscal year
(the fiscal year ended March 2025)
115.00
125.00
240.00
Reason for announcement
The company has positioned the return of profits to shareholders as one of the important management policies and has made it a basic policy to continuously return profits to shareholders in accordance with business performance while securing the internal reserve necessary to achieve stable corporate growth and to respond to changes in the business environment in the future. The company will consider further
strengthening the return to shareholders with a dividend payout ratio of 30% as the standard for consolidated business results.
The dividend forecast for the fiscal year ending March 31, 2026, has been revised from the most recent dividend forecast considering the above revised earnings forecast. The year-end dividend is expected to be 160 yen per share, up 20 yen from the previous forecast of 140 yen per share, for an annual dividend of 265 yen per share.
(Note 1) Above forecast is based on available information as of the release date of this report.
The actual dividend distribution may be different from this forecast statement, due to various unforeseen factors.
(Note 2) The company sets September 30 and March 31 as record dates of dividend distribution.
(End)