Konoike Transport Q1 Net Profit Falls 17% to ¥3.83 Billion as Air Freight and China Routes Weigh

Flat revenue, thinner profit

Konoike Transport Co., Ltd. (TSE: 9025) published consolidated results for the three months to June 30, 2026 on August 12, 2026 under Japanese GAAP. Revenue slipped 0.3% to ¥89,007 million, operating profit fell 4.6% to ¥6,375 million and ordinary profit 3.5% to ¥6,444 million. Net profit attributable to shareholders fell 17.3% to ¥3,826 million — a steeper drop than the lines above it, which the company attributes to an increase in tax expense. Earnings per share were ¥72.05 against ¥87.17. Comprehensive income more than doubled to ¥5,374 million from ¥2,305 million.

This is the second year of a medium-term plan running to March 2028, built on growth investment plus spending on people, technology and ICT. Two external pressures show up directly in the numbers: reduced Chinese air routes, visible since December 2025 and still weighing on the airport business, and higher fuel costs from Middle East tensions, whose effect on transport costs management calls limited. Note that Konoike defines segment profit as operating profit before deducting general administrative expenses, so the segment figures below sum to more than group operating profit.

Food and consumer goods offset the airports

Composite Solutions, the largest segment, lifted external revenue 2.7% to ¥59,368 million and profit 4.1% to ¥6,803 million. Higher volumes in food products and consumer-goods industries, plus continued work on getting prices right, more than covered the reduction in international passenger flights at the airport operations and the suspension of operations at an affiliate in the steel-related business.

International logistics loses a tenth of its revenue

International Logistics revenue fell 10.9% to ¥15,633 million and profit 1.8% to ¥1,175 million. New import-installation work for large equipment and growing volumes in India and ASEAN were outweighed by lower air-cargo volumes as the group restructured its Hong Kong forwarding subsidiary; profit was further squeezed by fuel costs on the company's own vessels. Domestic Logistics revenue edged up 0.5% to ¥14,005 million, on more product storage and more frozen and chilled cargo, but profit fell 18.4% to ¥788 million because the end of work for some consumer-goods customers could not be covered by the revenue gain.

Balance sheet and guidance

Total assets rose ¥7,654 million to ¥307,380 million. Current assets added ¥3,680 million as securities rose ¥6,014 million and receivables ¥2,401 million while cash fell ¥5,775 million; fixed assets added ¥3,973 million, mostly construction in progress, investment securities, deferred tax assets, lease assets and land. Liabilities rose on accrued expenses and lease obligations. Net assets rose ¥2,442 million to ¥165,693 million on retained earnings, a ¥785 million currency-translation gain and a ¥764 million gain on other securities, but the equity ratio slipped to 52.5% from 53.1% because assets grew faster.

Konoike left the guidance published on May 14, 2026 in place: full-year revenue of ¥361,000 million (+1.5%), operating profit of ¥21,000 million (−7.8%), ordinary profit of ¥21,000 million (−7.0%) and net profit of ¥14,000 million (−1.9%), for earnings per share of ¥263.70. The first quarter has therefore delivered 30.4% of the full-year operating-profit target. The annual dividend forecast stays at ¥110.00, split ¥55.00 and ¥55.00.

JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.