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Nippon Express (9147) investor relations material
Nippon Express Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Strategic initiatives include asset sales, business portfolio restructuring, and capital policy revisions to enhance corporate value.
Revenue for FY2025 was ¥2,574.8 billion, down 0.1% YoY, with operating profit up 4.9% to ¥51.4 billion, but net profit fell sharply due to impairment losses and higher tax expenses.
The company aims to become a globally prominent logistics provider by shifting to growth businesses and optimizing capital structure.
The business environment was challenging, with weak cargo movements from Asia, falling freight rates, and persistent cost pressures, but global growth and sustainability initiatives advanced.
Major M&A activity included the acquisition of Simon Hegele and cargo-partner to strengthen global logistics capabilities.
Financial highlights
FY2025 revenue: ¥2,574.8 billion; operating income: ¥51.4 billion; net income: ¥2.6 billion; ROE at 0.3%, below the 6.7% cost of shareholders' equity.
Operating profit rose 4.9% YoY, but profit before tax dropped 19.5% to ¥41.7 billion, and net profit plunged 87.3% to ¥4.2 billion.
Gross profit increased 8.6% YoY to ¥240.7 billion, total assets grew 5.1% to ¥2,415.0 billion, and cash and cash equivalents at year-end were ¥283.4 billion, up ¥32.0 billion YoY.
PBR at 0.99 at end of 2025, improved from previous year; current PBR around 1.05 as of January 2026.
A gain of ¥74.3 billion from real estate sales was offset by a ¥59.5 billion impairment loss on European logistics goodwill.
Outlook and guidance
FY2026 targets: revenue ¥2,700.0 billion, net income ¥60.0 billion, operating income ¥100.0 billion, ROE 7.0%.
FY2028 plan: revenue ¥3,000.0 billion, net income ¥100.0 billion, operating income ¥150.0 billion, ROE 10% or greater.
Aims to raise PBR above 1.0 and achieve ROE of 8% by FY2026.
The company will continue to focus on global expansion, business portfolio optimization, and sustainability, with capital expenditures planned at ¥80 billion.
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