Mitsui O.S.K. Lines raised its forecast for net profit attributable to owners of the parent to ¥300bn for the year to March 2027, up from ¥240bn in the guidance it published on August 3. The revised outlook, released on November 2, also lifts expected earnings per share to ¥872.68 from ¥698.27.
What MOL says drove the change
The company gives two reasons. Dry bulk and energy shipping markets "ran above" its assumptions at the time of the August forecast. Separately, OCEAN NETWORK EXPRESS PTE. LTD., the container line that MOL accounts for as an equity-method affiliate, is expected to post results above the earlier assumption, which MOL attributes to firm market conditions. These are MOL's own descriptions of freight markets. The notice cites no rate index or volume data, and it does not split the upgrade by segment or say how much the affiliate contributes.
The full-year numbers
Revenue is now forecast at ¥2.37tn, against ¥2.23tn before. Operating profit rises by ¥16bn to ¥151bn, and ordinary profit by ¥70bn to ¥295bn. Net profit moves up by ¥60bn to ¥300bn.
| Measure | Previous forecast | Revised forecast | Prior-year actual |
|---|---|---|---|
| Revenue | ¥2.23tn | ¥2.37tn | ¥1.825tn |
| Operating profit | ¥135.0bn | ¥151.0bn | ¥127.0bn |
| Ordinary profit | ¥225.0bn | ¥295.0bn | ¥175.8bn |
| Net profit to owners of parent | ¥240.0bn | ¥300.0bn | ¥213.3bn |
| Earnings per share | ¥698.27 | ¥872.68 | ¥619.78 |
The revisions are uneven. The notice puts the increase in operating profit at 11.9%, in ordinary profit at 31.1% and in net profit at 25.0%. Most of the upgrade therefore sits below the operating line, and the notice does not explain that gap line by line.
First half: a forecast, not a result
For the six months to September 2026, MOL now forecasts operating profit of ¥72bn, up from ¥65bn, ordinary profit of ¥162bn, up from ¥126bn, and net profit of ¥178bn, up from ¥137bn. The notice presents these as forecasts. The year-earlier interim actuals it lists are ¥71.8bn of operating profit, ¥114.6bn of ordinary profit and ¥116.2bn of net profit. The interim operating forecast is therefore close to last year's level, and the lift to ordinary and net profit is larger.
Parent-only forecasts
MOL also revised its non-consolidated forecasts. For the full year, parent-only ordinary profit is now ¥132bn, up from ¥120bn, and net profit is ¥127bn, up from ¥118bn. For the first half, parent-only ordinary profit is ¥48bn, down ¥2bn from the earlier ¥50bn, while interim net profit is unchanged at ¥52bn.