Q-SO Distribution System's Financial Results: Sales increased 3.7% from December to August, but profits decreased due to factors such as rising prices.

According to the third-quarter financial results (December-August) for the fiscal year ending November 2026, announced by Q-SO Distribution Systems on September 30, net sales were 156.245 billion yen (up 3.7% year-on-year), operating profit was 4.407 billion yen (down 1.0%), ordinary profit was 3.59 billion yen (down 4.7%), and net profit attributable to parent company shareholders was 1.833 billion yen (down 11.9%).

Due to rising prices, consumers' tendency to save money, labor shortages, and increased logistics costs, the two main logistics businesses saw increased revenue but decreased profits. On the other hand, related businesses secured significant increases in revenue and profits, driven by increased domestic facility construction and the consolidated contribution of India's Coldrush, leading the group as a whole.

Segment-specific trends

The joint logistics business saw increased revenue due to fair pricing policies and expanded transactions, but rising transportation and warehousing costs pressured profits. Similarly, the dedicated logistics business was burdened by logistics costs and expenses associated with the introduction of a retirement benefit system. Related businesses benefited from increased orders for facility construction and other projects. Furthermore, the company made Coldrush, an Indian cold chain logistics company, a consolidated subsidiary in September, and is expanding its base in growing markets.

Future outlook

There are no changes to the full-year earnings forecast. We project net sales of 2050 billion yen (up 1.2% year-on-year), operating profit of 57 billion yen (up 1.0%), ordinary profit of 44 billion yen (down 8.7%), and net profit attributable to parent company shareholders of 21 billion yen (down 20.7%).

QSO Distribution Systems acquires Indian cold chain logistics company as subsidiary to strengthen its cold chain.