According to Kawasaki Kisen's financial results for the second quarter (interim period) of the fiscal year ending March 2026, announced on November 5, net sales were 500.565 billion yen (down 7.0% year-on-year), operating profit was 42.955 billion yen (down 29.7%), ordinary profit was 59.669 billion yen (down 68.1%), and net profit attributable to parent company shareholders was 68.632 billion yen (down 62.5%).
In terms of segments, the dry bulk business managed market exposure appropriately while simultaneously striving to reduce operating costs and improve vessel scheduling efficiency, resulting in sales of 1425 billion yen (down 16.9%) and segment profit of 9 million yen (down 87.0%).
Furthermore, the product logistics business saw a decrease in both revenue and profit, with sales of 3038 billion yen (down 1.9%) and operating profit of 575 billion yen (down 68.9%).
Regarding the car carrier business within product logistics, despite the imposition of additional tariffs on automobiles destined for the United States, it remained generally strong, supported by robust demand in various countries. Furthermore, efforts to improve operational efficiency continued amidst temporary tensions in the Middle East and ongoing port congestion in some regions.
In the logistics business, domestic container terminal handling volume increased compared to the same period last year. In international logistics, while demand for sea and air freight in the forwarding business was sluggish due to the impact of U.S. tariff policies, semiconductor transport volume increased, resulting in generally steady performance for the business as a whole.
In coastal operations, the volume of biomass fuel and slag increased, resulting in an overall increase compared to the same period last year. In domestic operations, ferry transport increased compared to the same month last year, but scheduled ship transport volume fell below the same period last year due to cancellations caused by rough weather. Tramp ship transport volume decreased compared to the same period last year due to a decrease in demand for limestone.
The container shipping business saw solid cargo demand, including a surge in shipments to North America in July 2025 due to a rush ahead of the US reciprocal tariffs. However, short-term freight rates stagnated due to an oversupply resulting from the mass completion of new vessels, and declined through September 2025. As a result, ONE, an equity-method affiliate of the company, saw a decrease in both revenue and profit compared to the same period of the previous year.
For the full year, the company projects net sales of 9840 billion yen (down 6.1%), operating profit of 860 billion yen (down 16.4%), ordinary profit of 1000 billion yen (down 67.5%), and net profit attributable to parent company shareholders of 1050 billion yen (down 65.6%).
