NS United Kaiun boosts full-year profit and dividend forecasts

NS United Kaiun Kaisha, Ltd. announced on October 31, 2025, a significant upward revision to its consolidated operating performance and dividend forecasts for the fiscal year ending March 2026. The company now expects revenues of 212,000 million yen (up 2.4%), operating profit of 18,500 million yen (up 22.5%), ordinary profit of 16,500 million yen (up 26.9%), and profit attributable to owners of parent of 18,900 million yen (up 15.2%). This revision is largely due to robust demand for iron ore and grain transportation, which bolstered first-half results, and anticipated continued support from new mining projects in West Africa, despite potential future market weakening.

The board of directors also revised its year-end dividend forecast from 105 yen per share to 140 yen per share. This adjustment brings the total annual dividend for the fiscal year ending March 2026 to 245 yen per share, an increase from the previously forecast 210 yen, reflecting the improved earnings outlook and the company’s policy of maintaining a 30% dividend payout ratio. The interim dividend of 105 yen per share remains unchanged.

These revisions follow strong performance in the six months ended September 30, 2025, where revenues reached 111,529 million yen, operating profit was 9,240 million yen, and profit attributable to owners of parent increased to 11,047 million yen. Gains from the sale of aging vessels also contributed to the increased profit attributable to owners of parent.