NIPPON EXPRESS Holdings lifts FY2026 net profit forecast to ¥70 billion on logistics recovery and property sale gains

NIPPON EXPRESS Holdings raised its consolidated IFRS net profit forecast for the fiscal year ending December 2026 to ¥70 billion from ¥60 billion, putting the outlook about 26 times above the prior year and ahead of the ¥59.5 billion average estimate from 10 analysts compiled by IBES. Revenue is now projected at ¥2.75 trillion, up 7% year on year, and operating profit at ¥120 billion, a 2.3-fold increase, after the company lifted those forecasts by ¥50 billion and ¥20 billion respectively. The upgrade reflects a recovery in international cargo movements, steady domestic logistics demand and a larger-than-expected contribution from sales of low-yield real estate assets, with disposal gains increased to ¥42.8 billion from an initial ¥19 billion. NXHD said its forwarding business has been strong, helped by robust demand for AI-related electronic components and semiconductor manufacturing equipment and by improving cargo flows from Asia. First-half results for January-June 2026 showed revenue rose 7% to ¥1.36 trillion while net profit jumped 2.9-fold to ¥24.2 billion, supported by forwarding operations and a weaker yen that lifted the yen value of overseas earnings. The company also changed the profit measure used for dividend calculations to adjusted profit, excluding real estate sale gains and losses, while maintaining its annual dividend forecast at ¥100 per share and a payout ratio of at least 40%. Proceeds from property sales are earmarked for growth investment and share buybacks, underscoring a strategy that combines stronger logistics demand with improved asset efficiency.