Mitsui O.S.K. Lines (9104) Status update summary

Phase 1 achievements and review

• Achieved key financial and non-financial KPIs, with profit targets met for three consecutive years and a resilient, diversified business portfolio established.

• Executed ¥2.0 trillion in investments, focusing on stable revenue businesses and reducing exposure to market volatility.

• Advanced decarbonization, expanded overseas organizations, and diversified talent through M&A.

Phase 2 strategic direction and positioning

• Phase 2 (FY2026–2030) focuses on value realization, enhancing earning power, balanced capital allocation, and strengthening the management foundation.

• Emphasis on disciplined growth investments, asset recycling, and stronger shareholder returns.

• Management foundation to be reinforced through sustainability, governance, digital transformation, and human capital initiatives.

Financial targets and profit projections

• FY2030 targets: ¥420 billion profit before tax, 5.5% ROA, and core operating cash flow of ¥420 billion.

• Net gearing ratio targeted at 1.0–1.1x, ROE above 10%, and GHG emissions intensity reduced by 45% by 2035 (vs. 2019).

• Profit growth to be driven by non-containership businesses and diversification across market-driven, hybrid, and stable revenue segments.