Sakurajima Futo Co., Ltd. (TSE: 9353), an Osaka-based operator of port, wharf, warehousing and logistics services, reported consolidated results for the first quarter of the year ending March 31, 2027 (April 1 – June 30, 2026) under Japanese GAAP. Revenue fell 4.7% to ¥988 million, operating profit dropped 44.1% to ¥51 million, ordinary profit slipped 2.6% to ¥153 million, and net profit attributable to owners of the parent edged up 2.4% to ¥105 million. Basic earnings per share were ¥69.29, up from ¥67.92 a year earlier.
Operating margin squeezed
Both revenue and operating profit fell on softer cargo-handling volumes and higher costs across the company's port and warehousing operations. The steep operating-profit decline stood in contrast to ordinary profit, which held roughly flat, down just 2.6%, as non-operating income cushioned the slide at the operating line.
Investment gains lift comprehensive income and the balance sheet
Comprehensive income jumped to ¥983 million from ¥63 million a year earlier, a sharp rise driven mainly by gains on the valuation of investment securities. That flowed through to a stronger balance sheet: total assets rose to ¥13,654 million from ¥12,203 million at March 31, 2026, and net assets increased to ¥8,974 million from ¥8,073 million. The equity ratio edged down to 65.7% from 66.2% as assets grew faster than equity.
Guidance and dividend maintained
Sakurajima Futo left its full-year guidance unchanged. For the first half it expects revenue of ¥2,100 million (-5.6%), operating profit of ¥140 million (-33.9%), ordinary profit of ¥220 million (-24.4%) and net profit of ¥160 million (-32.3%), with EPS of ¥104.99. For the full year to March 2027 it guides revenue of ¥4,280 million (+0.5%), operating profit of ¥250 million (-0.4%), ordinary profit of ¥400 million (-1.2%) and net profit of ¥260 million (-10.4%), with EPS of ¥170.47. The annual dividend forecast is held at ¥54.00 per share (a year-end payment), unchanged from FY3/2026.
| Metric | Q1 FY3/2027 | Q1 FY3/2026 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 988 | 1,037 | -4.7% |
| Operating profit (¥ million) | 51 | 92 | -44.1% |
| Ordinary profit (¥ million) | 153 | 157 | -2.6% |
| Net profit attrib. to owners (¥ million) | 105 | 103 | +2.4% |
| Basic EPS (¥) | 69.29 | 67.92 | +2.0% |
| FY27 net profit guidance (¥ million) | 260 | 290 | -10.4% |
| Annual dividend (¥) | 54.00 | 54.00 | unchanged |
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