Ship Healthcare (3360) investor relations material

Executive summary

• Net sales for the nine months ended December 31, 2025, rose 6.1% year-over-year to ¥522,415 million, with gross profit nearly flat at ¥46.1 billion and operating profit down 4.4% to ¥14,450 million.

• Ordinary profit was ¥15,462 million, with profit attributable to owners of parent reported as ¥10.52 billion in one source and ¥9,381 million in another, reflecting a year-over-year change of 10.8% up or down depending on the source.

• Performance was largely in line with internal and initial plans, despite economic uncertainty, inflation, and labor shortages.

• The period marked the first year of the medium-term management plan "SHIP VISION 2030," focusing on new business creation, reorganization, and growth field expansion.

• Integration synergies and efficiency gains were realized, particularly in the PH Business.

Financial highlights

• Gross profit margin was 8.8%, down from 9.4% year-over-year.

• Operating margin was 2.8%, down from 3.1% in the prior year.

• Ordinary profit margin was 3.0%, down from 3.4% year-over-year.

• Net sales by segment: TPP +3.0%, MSP +7.5%, LC +1.9%, PH +2.8% year-over-year.

• Net income per share was ¥100.70 for the nine-month period.

Outlook and guidance

• Full-year net sales are projected at ¥700,000 million, with operating profit guidance at ¥26,000 million and ordinary profit at ¥26,500 million.

• No changes to previously announced financial forecasts.

• Large project deliveries are expected to be back-loaded in the fiscal year.