Seino Holdings Co (9076) Q2 2026 earnings summary

Executive summary

• Achieved record-high revenue and profit in Q2 FY2026, driven by MD LOGIS consolidation and improved freight rate pricing in the LTL business.

• Operating revenue for the six months ended September 30, 2025, rose 20.2% year-over-year to ¥398,559 million.

• Operating profit increased 38.4% year-over-year to ¥18,101 million, and ordinary profit grew 40.5% to ¥18,495 million.

• Profit attributable to owners of parent surged 67.2% year-over-year to ¥10,757 million.

• Roadmap 2028 is at its midpoint, with ongoing initiatives to improve ROE and stakeholder engagement.

Financial highlights

• Operating revenue: ¥398.6 billion, up 20.2% YoY; operating profit: ¥18.1 billion, up 38.4% YoY.

• Net income attributable to owners: ¥10.8 billion, up 67.2% YoY.

• Gross margin improved to 11.8% (+0.3pt YoY); operating margin rose to 4.5% (+0.6pt YoY).

• Basic earnings per share for the six months was ¥72.11, up from ¥38.25 in the prior year.

• Total assets as of September 30, 2025, were ¥764,142 million, with net assets at ¥430,954 million and an equity-to-asset ratio of 52.8%.

Outlook and guidance

• FY3/26 forecast: operating revenue ¥813.7 billion (+10.4% YoY), operating profit ¥37.6 billion (+25.8% YoY), net income ¥22.0 billion (+14.3% YoY).

• ROE expected to recover to 5.4% (target 8%), EPS to rise 27% YoY.

• Annual dividend forecast remains unchanged at ¥102.00 per share.

• Full-year MD LOGIS contribution: sales ¥54.9 billion, operating profit ¥1.9 billion.

• LTL unit price target 104.5%, volume target 99.5%.