Mitsui OSK Lines (MOL) has published its consolidated financial results for the three months ended June 30, 2026 (Q1 FY2026).
MOL posted revenues totalling JPY730.987 billion (US$4.59 billion) in Q1 FY2026 compared to JPY432.704 billion (US$2.72 billion) in the same period last year. Operating profit in Q1 FY2026 totalled JPY38.516 billion (US$240 million), an increase from JPY37.078 billion (US$230 million) in Q1 FY2025.
MOL said the Capesize and crude oil markets remained firm during the quarter, whereas profits from containerships and car carriers declined mainly due to higher bunker costs and weaker market conditions.
The company has also revised its FY2026 full-year forecast upward from the previous one due to market rates for Capesize bulkers, crude oil tankers, LPG carriers, chemical tankers, and containerships remaining firm.
Total assets as of June 30, 2026 increased by JPY240.1 billion (US$1.51 billion) compared to the balance as of the end of the previous fiscal year, to JPY6.202 trillion (US$39 billion). This was primarily due to the increase in the number of group vessels.
Total liabilities as of June 30, 2026 increased by JPY133.2 billion (US$840 million) compared to the balance as of the end of the previous fiscal year, to JPY3.166 trillion (US$20 billion). This was primarily due to the increase in long-term bank loans.
Total net assets as of June 30, 2026 increased by JPY106.8 billion (US$670 million) compared to the balance as of the end of the previous fiscal year, to JPY3.036 trillion (US$19 billion). This was primarily due to the increase in foreign currency translation adjustments. As a result, shareholders’ equity ratio decreased by 0.2 percentage points compared to the ratio as of the end of the previous fiscal year, to 48 per cent.