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NS UNITED KAIUN KAISHA

NS UNITED KAIUN KAISHA, LTD.

Company highlights

The largest segment by revenue is 外航海運事業, at 85.8% of the total.

Key figures

Period Apr 2025 to Mar 2026ConsolidatedJapanese GAAP

RevenueDisclosed ¥229.8B
Operating marginCalculated 8.9%
Net assets to total assetsCalculated 63.2%

Company profile

Securities code 9110 / EDINET code E04239 / Marine Transportation / Fiscal year end March 31

千代田区大手町二丁目３番２号／Capital stock ¥10,300 million
Address, capital stock, fiscal year end and industry: the FSA’s EDINET code list.

Official website: http://www.nsuship.co.jp/
Official website: gBizINFO (Ministry of Economy, Trade and Industry).

Company details
山中 一馬 Representative
55 Consolidated subsidiaries

Tables scroll sideways

Disclosed data

Source: Annual Securities Report (Apr 2025 to Mar 2026) · filed 2026-06-23

Profitability ★★★★☆position among all companies 8.9%
Growth (revenue, 4-year average) ★★☆☆☆position among all companies 4.1%
Capital efficiency ★★★★☆position among all companies 13.8%

Business activities and revenue composition

NS UNITED KAIUN KAISHA

Revenue and profit by business segment

Period Apr 2025 to Mar 2026Source Annual securities reportsConsolidated・Disclosed

SalesProfit 外航海運事業外航海運事業 Sales 85.8% 86% Profit 75.4% 75% Coastal shi…Coastal shipping Sales 14.2% 14% Profit 24.6% 25%
BusinessNet sales to external customers Operating income
This yearShareLast year This yearShareMarginLast year
外航海運事業 ¥197.1 billion 85.8% ¥216.2 billion ¥15.5 billion 75.4% 7.9% ¥16.3 billion
Coastal shipping ¥32.7 billion 14.2% ¥31.3 billion ¥5.0 billion 24.6% 15.4% ¥4.0 billion
Total of the businesses ¥229.8 billion100.0% ¥20.5 billion 100.0%

Revenue and profit

Amounts by account
GroupAccountAmountConsolidated / Non-consolidated
Selling, general and administrative expenses General and administrative expenses ¥8.5 billion Consolidated
Directors compensations salaries and allowances ¥4.2 billion Consolidated
Employees' salaries ¥2.2 billion Parent only
Provision for bonuses ¥0.5 billion Consolidated
Retirement benefit expenses ¥0.2 billion Consolidated
Provision for retirement benefits ¥0.2 billion Parent only
Provision for directors' bonuses ¥0.1 billion Consolidated
Depreciation ¥89.00 million Consolidated
Provision of allowance for doubtful accounts ¥27.00 million Consolidated
Research and development expenses ¥2.00 million Consolidated
Profit by stage Gross profit (loss) ¥29.0 billion Consolidated
Net income ¥24.1 billion Consolidated
Ordinary income ¥21.0 billion Consolidated
Operating income ¥20.5 billion Consolidated

NS UNITED KAIUN KAISHA

Selling, general and administrative expenses

Period Apr 2025 to Mar 2026Source Annual securities reports

General and administrative expenses ¥8.5 billion (53.5%)53%Directors compensations salaries and allowances ¥4.2 billion (26.6%)27%Employees' salaries ¥2.2 billion (14.2%)14%Provision for bonuses ¥0.5 billion (3.1%)Retirement benefit expenses ¥0.2 billion (1.5%)Provision for retirement benefits ¥0.2 billion (1.1%)¥15.8B
  • General and administrative expenses　¥8.5 billion
  • Directors compensations salaries and allowances　¥4.2 billion
  • Employees' salaries　¥2.2 billion
  • Provision for bonuses　¥0.5 billion
  • Retirement benefit expenses　¥0.2 billion
  • Provision for retirement benefits　¥0.2 billion

Performance, financial position and capital allocation

Finance
63.2% Net assets to total assets Industry median 45.7% FY ending 3/2026 · consolidated / calculated
8.1% Return on assets (ROA)
¥7,943.82 Net assets per share
¥37.4 billion Free cash flow
¥296.4 billion Total assets
Capital allocation
173.2% Cash conversion Industry median 245.0% FY ending 3/2026 · consolidated / calculated
15.3% Return to shareholders ★★☆☆☆ position among all companies FY ending 3/2026 · consolidated / calculated
3.5% Investment securities to net assets ★★☆☆☆ position among all companies FY ending 3/2026 · consolidated / calculated

Long-term changes in performance

Period 2013 to 2026Disclosed

Revenue ×1.75 from 2013 to 2026

NS UNITED KAIUN KAISHA

Long-term revenue, profit and asset trends

Period 2013 to 2026Source Annual securities reportsDisclosed

Mark on the chart
251 167 84 0 2013 2015 2017 2019 2021 2023 2025 2026 Net sales and operating revenue Ordinary income 2014　Ordinary income (loss) as a share of revenue +3.9 points 2016　Ordinary income (loss) as a share of revenue -3.6 points 2022　Net sales year on year +41.5%, Ordinary income (loss) as a share of revenue +9.6 points 2023　Net sales year on year +28.0% 2024　Ordinary income (loss) as a share of revenue -3.8 points 230Latest value 2026 230¥ billion 251Highest in the period shown 2023 251¥ billion 125Lowest in the period shown 2017 125¥ billion ¥ billion

NS UNITED KAIUN KAISHA

Recent performance trends

Source Annual securities reports

251 167 84 0 4 years ago 3 years ago 2 years ago Last year This year Net sales and operating revenue Ordinary income ¥ billion

Year-on-year comparison

Period 2013 to 2026Disclosed

Item20222023202420252026
Net sales ¥195.9B ¥250.8B ¥233.1B ¥247.4B ¥229.8B
Year on year (%) +41.5%◆ +28.0%◆ -7.1% +6.1% -7.1%
Ordinary income (loss) ¥26.6B ¥33.4B ¥22.2B ¥19.0B ¥21.0B
Change from prior year +380.9% +25.7% -33.7% -14.3% +10.7%
Ordinary income (loss) as a share of Net sales 13.6% 13.3% 9.5% 7.7% 9.2%
Change (percentage points) +9.6 points◆ -0.2 points -3.8 points◆ -1.8 points +1.5 points

Fiscal periods marked for changes

Earlier fiscal periods (2)
  • 2014Ordinary income (loss) as a share of revenue +3.9 points
  • 2016Ordinary income (loss) as a share of revenue -3.6 points
  • 2022Net sales year on year +41.5%, Ordinary income (loss) as a share of revenue +9.6 points
  • 2023Net sales year on year +28.0%
  • 2024Ordinary income (loss) as a share of revenue -3.8 points

NS UNITED KAIUN KAISHA

Earnings and net assets per share over time

Unit yenSource Annual securities reports

1,171 781 390 0 4 years ago 3 years ago 2 years ago Last year This year Earnings per share yen 7,944 5,296 2,648 0 4 years ago 3 years ago 2 years ago Last year This year Net assets per share yen

NS UNITED KAIUN KAISHA

Return on equity over time

Unit %Source Annual securities reports

22 15 7 0 4 years ago 3 years ago 2 years ago Last year This year Return on equity (ROE, %)
Consolidated indicators (14 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥195.9 billion ¥250.8 billion ¥233.1 billion ¥247.4 billion ¥229.8 billion
Ordinary income (loss) ¥26.6 billion ¥33.4 billion ¥22.2 billion ¥19.0 billion ¥21.0 billion
Net income (loss) attributable to owners of parent ¥23.6 billion ¥27.6 billion ¥18.0 billion ¥18.6 billion ¥24.1 billion
Comprehensive income ¥25.2 billion ¥27.7 billion ¥18.7 billion ¥19.4 billion ¥29.9 billion
Net assets ¥118.2 billion ¥137.4 billion ¥149.6 billion ¥162.7 billion ¥187.2 billion
Total assets ¥274.9 billion ¥275.8 billion ¥286.3 billion ¥287.9 billion ¥296.4 billion
Net assets per share 5,015.17 yen 5,830.65 yen 6,347.53 yen 6,905.75 yen 7,943.82 yen
Basic earnings (loss) per share 1,000.67 yen 1,171.29 yen 763.2 yen 790.18 yen 1,022.46 yen
Equity-to-asset ratio 43.0% 49.8% 52.2% 56.5% 63.2%
Return on equity 22.0% 21.6% 12.5% 11.9% 13.8%
Net cash provided by (used in) operating activities ¥32.9 billion ¥42.9 billion ¥31.0 billion ¥34.9 billion ¥35.4 billion
Net cash provided by (used in) investing activities ¥0.1 billion ¥-2.0 billion ¥-13.1 billion ¥-8.2 billion ¥2.0 billion
Net cash provided by (used in) financing activities ¥-29.9 billion ¥-32.4 billion ¥-12.1 billion ¥-17.8 billion ¥-28.2 billion
Cash and cash equivalents ¥31.2 billion ¥40.3 billion ¥47.1 billion ¥55.8 billion ¥65.6 billion
Parent only indicators (14 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥172.6 billion ¥224.4 billion ¥204.6 billion ¥216.4 billion ¥197.3 billion
Ordinary income (loss) ¥30.8 billion ¥40.1 billion ¥20.6 billion ¥16.0 billion ¥15.7 billion
Net income (loss) ¥27.5 billion ¥32.4 billion ¥16.7 billion ¥15.1 billion ¥17.2 billion
Capital stock ¥10.3 billion ¥10.3 billion ¥10.3 billion ¥10.3 billion ¥10.3 billion
Total number of issued shares (common stock) 23,971,000 shares 23,971,000 shares 23,971,000 shares 23,971,000 shares 23,971,000 shares
Net assets ¥102.6 billion ¥126.4 billion ¥137.3 billion ¥146.6 billion ¥163.1 billion
Total assets ¥159.1 billion ¥175.9 billion ¥182.3 billion ¥192.7 billion ¥211.7 billion
Net assets per share 4,355.22 yen 5,363.12 yen 5,825.92 yen 6,220.35 yen 6,920.87 yen
Dividend per share 285 yen 365 yen 230 yen 240 yen 310 yen
Interim dividend per share 95 yen 170 yen 80 yen 115 yen 105 yen
Basic earnings (loss) per share 1,165.25 yen 1,374.44 yen 708.26 yen 639.8 yen 728.92 yen
Equity-to-asset ratio 64.5% 71.9% 75.3% 76.1% 77.1%
Return on equity 30.5% 28.3% 12.7% 10.6% 11.1%
Payout ratio 24.5% 26.6% 32.5% 37.5% 42.5%

Dividend history

Source: reporting company’s key figures, annual securities reports · 13 years (2014 to 2026)Parent-onlyDisclosed

2 periods Consecutive increases (own definition) through FY ending 3/2026
8 periods Consecutive periods with dividends (site definition) through FY ending 3/2026
+29.2% Dividend growth (year on year)
+31.1% Dividend growth (5-year annual rate)
Fiscal yearAnnual dividend per share Of which interimPayout ratio (as reported, parent only) Flag
FY ending 3/2026 ¥310 ¥105 42.5%
FY ending 3/2025 ¥240 ¥115 37.5%
FY ending 3/2024 ¥230 ¥80 32.5%
FY ending 3/2023 ¥365 ¥170 26.6%
FY ending 3/2022 ¥285 ¥95 24.5%
FY ending 3/2021 ¥80 ¥30 42.5%
FY ending 3/2020 ¥80 ¥45 30.2%
FY ending 3/2019 ¥115 ¥50 31.3%
FY ending 3/2018 ¥85 Could not be retrieved 44.6% Stock split or share consolidation noted
FY ending 3/2017 ¥4 Could not be retrieved 50.6%
FY ending 3/2016 ¥4 Could not be retrieved 35.2%
FY ending 3/2015 ¥9 Could not be retrieved 30.3%
FY ending 3/2014 ¥9 Could not be retrieved 29.2%

NS UNITED KAIUN KAISHA

Dividends per share over time

Unit yenSource Annual securities reports

365 243 122 0 4 years ago 3 years ago 2 years ago Last year This year Dividend per share yen

Shareholder composition

As of 2026-03-31Disclosed

Share ownership by holder category

7,259 Shareholders
21.43% Foreign holders (total) Industry median 17.36%
11.27% Individuals and others Industry median 30.07%

NS UNITED KAIUN KAISHA

Unit %Source Annual securities reports

  • Financial institutions12.48%
  • Securities firms0.77%
  • Other corporations54.05%
  • Foreign holders (institutions)21.41%
  • Foreign holders (individuals)0.02%
  • Individuals and others11.27%
  • Government and municipalities0.00%

Major shareholders

RankShareholderShareholding ratioShares held
1 日本製鉄株式会社 33.36% 7,861,000
2 日本郵船株式会社 18.35% 4,324,000
3 日本マスタートラスト信託銀行株式会社（信託口） 7.94% 1,871,000
4 CEPLUX- THE INDEPENDENT UCITS PLATFORM 2（常任代理人 シティバンク、エヌ・エイ東京支店） 3.33% 785,000
5 BNYM AS AGT / CLTS 10 PERCENT（常任代理人 株式会社三菱UFJ銀行） 2.2% 518,000
6 新健海運股分有限公司中華民国台北市民権東路三段四号三楼 2.14% 504,000
7 株式会社日本カストディ銀行（信託口） 1.98% 467,000
8 BNYMSANV RE BNYMIL RE WS ZENNOR JAPAN EQUITY INCOME FUND（常任代理人 株式会社三菱UFJ銀行） 1.71% 403,000
9 株式会社みずほ銀行 1.7% 400,000
10 STATE STREET BANK AND TRUST COMPANY 505223（常任代理人 株式会社みずほ銀行決済営業部） 1.64% 386,000

Research and development expenses and capital expenditure

Source: R&D and capital expenditure sections, annual securities reports · 2 years (2021 to 2026)Disclosed

¥2.00 million Research and development 0.0% of revenue
¥5.5 billion Capital expenditure 2.4% of revenue (industry median 12.1%)
Fiscal year Research and development Capital expenditure
FY ending 3/2026 ¥2.00 million ¥5.5 billion
FY ending 3/2021 Could not be retrieved ¥41.3 billion

Research and development expenses and capital expenditure by segment (FY ending 3/2026)

Segment Capital expenditure
外航海運事業 ¥5.3 billion
Coastal shipping ¥0.2 billion

Revenue scale in the same industry

NS UNITED KAIUN KAISHA

Source Annual securities reports of each company

Marine Transportation: 12 companies · revenue · largest first・FY Mar 2026・Consolidated・Disclosed

Workforce information

Source: Annual Securities Report (Apr 2025 to Mar 2026)Parent-onlyDisclosed

261 Employees (parent only) Industry median 209
40.2 Average age Industry median 38.6
14.4 years Average length of service Industry median 13.4 years
¥11.97 million Average annual salary Industry median ¥9.56 million
People and organisation
343.5¥ million Sales per employee Industry median 90.3¥ million FY ending 3/2026 · consolidated / calculated
¥30.69 million Operating income per employee
71.0% Wage gap between men and women
1.3% Women in managerial positions
84.6% Men taking childcare leave

Administrative filings and published information

Workplace information filings

Filed 2026-08-27Disclosed

ItemValue
Employees 261

Audit and disclosure information

Annual securities report, year ended 2026-03-31Disclosed

ItemValue
Audit firm EY新日本有限責任監査法人
Audit fees (this year, total) ¥59.00 million
Non-audit fees (this year, total) Not applicable
Going concern note Stated as not applicable
Accounting standard Japanese GAAP

See the book series →

Sources and methodology

Retrieved disclosed figures

Accounts and values from the annual securities report, by section

Major management indicators (5 years) (28 items)

ItemValueConsolidated / Non-consolidated
Comprehensive income ¥29.9 billion Consolidated
Net cash provided by (used in) operating activities ¥35.4 billion Consolidated
Net sales ¥229.8 billion Consolidated
Net cash provided by (used in) investing activities ¥2.0 billion Consolidated
Cash and cash equivalents ¥65.6 billion Consolidated
Net assets ¥187.2 billion Consolidated
Ordinary income (loss) ¥21.0 billion Consolidated
Total assets ¥296.4 billion Consolidated
Return on equity 13.8% Consolidated
Equity-to-asset ratio 63.2% Consolidated
Net income (loss) attributable to owners of parent ¥24.1 billion Consolidated
Net cash provided by (used in) financing activities ¥-28.2 billion Consolidated
Basic earnings (loss) per share 1,022.46 yen Consolidated
Net assets per share 7,943.82 yen Consolidated
Dividend per share 310 yen Parent only
Net sales ¥197.3 billion Parent only
Net income (loss) ¥17.2 billion Parent only
Total number of issued shares (common stock) 23,971,000 shares Parent only
Net assets ¥163.1 billion Parent only
Ordinary income (loss) ¥15.7 billion Parent only
Total assets ¥211.7 billion Parent only
Return on equity 11.1% Parent only
Equity-to-asset ratio 77.1% Parent only
Capital stock ¥10.3 billion Parent only
Payout ratio 42.5% Parent only
Interim dividend per share 105 yen Parent only
Basic earnings (loss) per share 728.92 yen Parent only
Net assets per share 6,920.87 yen Parent only

Employees (10 items)

ItemValueConsolidated / Non-consolidated
Number of employees 669 people Consolidated
Number of employees 669 people Consolidated
Wage gap between men and women (all employees) 71.0% Parent only
Average length of service (years) 14.4 years Parent only
Average annual salary ¥11.97 million Parent only
Average age (years) 40.2 years old Parent only
Number of employees 261 people Parent only
Number of employees 261 people Parent only
Wage gap between men and women (regular employees) 70.6% Parent only
Wage gap between men and women (non-regular employees) 51.7% Parent only

Shares (12 items)

ItemValueConsolidated / Non-consolidated
Number of shares held 17,522,000 shares Consolidated
Total number of shares held treasury shares etc 405,100 shares Consolidated
Number of shares 23,970,679 shares Consolidated
Shareholding ratio treasury shares etc 1.7% Consolidated
Shareholding ratio 74.4% Consolidated
Number of shares held in own name treasury shares etc 405,100 shares Consolidated
Number of voting rights 235,087 units Consolidated
Carrying amount on the balance sheet ¥23.00 million Consolidated
Carrying amount on the balance sheet ¥2.0 billion Consolidated
Number of issues 3 issues Consolidated
Number of issues 4 issues Consolidated
Total shareholder return 462.6% Parent only

Other disclosed items (10 items)

ItemValueConsolidated / Non-consolidated
Net sales to external customers ¥229.8 billion Consolidated
Number of unconsolidated subsidiaries accounted for using equity method 3 companies Consolidated
Investments accounted for using equity method ¥0.7 billion Consolidated
Increase in property plant and equipment and intangible assets ¥5.7 billion Consolidated
Write-downs of inventories ¥-96.00 million Consolidated
Depreciation ¥16.2 billion Consolidated
Number of consolidated subsidiaries 55 companies Consolidated
Rate of male employees taking childcare leave (all employees) 84.6% Parent only
Total return on the share price index 202.2% Parent only
Ratio of female employees in managerial positions 1.3% Parent only

Research and development (1 items)

ItemValueConsolidated / Non-consolidated
Research and development expenses ¥2.00 million Consolidated

Property and facilities (1 items)

ItemValueConsolidated / Non-consolidated
Capital expenditures ¥5.5 billion Consolidated

Audit (3 items)

ItemValueConsolidated / Non-consolidated
Fees for audit and attestation services - reporting company ¥43.00 million Consolidated
Fees for audit and attestation services - total ¥59.00 million Consolidated
Fees for audit and attestation services - consolidated subsidiaries ¥16.00 million Consolidated

Accounts unique to this company (17 items)

ItemValueConsolidated / Non-consolidated
Revenue ¥0.9 billion Consolidated
Revenue ¥0.5 billion Consolidated
Revenue ¥32.1 billion Consolidated
Revenue ¥7.00 million Consolidated
Revenue ¥-4.8 billion Consolidated
Revenue ¥7.7 billion Consolidated
Revenue ¥-0.8 billion Consolidated
Revenue ¥3.00 million Consolidated
Change in average annual salary from the previous year 8.6% Parent only
Revenue ¥-10.00 million Parent only
Revenue ¥0.9 billion Parent only
Revenue ¥0.5 billion Parent only
Revenue ¥24.6 billion Parent only
Revenue ¥11.5 billion Parent only
Revenue ¥0.7 billion Parent only
Revenue ¥5.1 billion Parent only
Revenue ¥2.5 billion Parent only

Statement of income (95 items)

ItemValueConsolidated / Non-consolidated
Other ¥0.2 billion Consolidated
Other ¥0.1 billion Consolidated
Other comprehensive income ¥5.8 billion Consolidated
Valuation difference on available for sale securities net of tax ¥0.6 billion Consolidated
General and administrative expenses ¥8.5 billion Consolidated
Dividends from surplus ¥-5.4 billion Consolidated
Comprehensive income ¥29.9 billion Consolidated
Interest income ¥0.2 billion Consolidated
Dividend income ¥0.2 billion Consolidated
Operating income ¥20.5 billion Consolidated
Operating income ¥20.5 billion Consolidated
Non-operating income ¥2.5 billion Consolidated
Non-operating expenses ¥2.0 billion Consolidated
Net cash provided by (used in) operating activities ¥35.4 billion Consolidated
Gain on sales of non-current assets ¥7.0 billion Consolidated
Gross profit (loss) ¥29.0 billion Consolidated
Net sales ¥229.8 billion Consolidated
Net income ¥24.1 billion Consolidated
Net income ¥24.1 billion Consolidated
Net income (loss) ¥24.1 billion Consolidated
Net income (loss) ¥24.1 billion Consolidated
Directors compensations salaries and allowances ¥4.2 billion Consolidated
Provision for directors' bonuses ¥0.1 billion Consolidated
Net cash provided by (used in) investing activities ¥2.0 billion Consolidated
Share of profit of investments accounted for using equity method ¥13.00 million Consolidated
Share of other comprehensive income of investments accounted for using equity method ¥9.00 million Consolidated
Interest expenses ¥1.4 billion Consolidated
Income taxes - current ¥2.8 billion Consolidated
Income taxes ¥4.0 billion Consolidated
Income taxes - deferred ¥1.2 billion Consolidated
Shipping business revenue and other operating revenue wat ¥229.8 billion Consolidated
Shipping business expenses and other operating expenses wat ¥200.8 billion Consolidated
Depreciation ¥89.00 million Consolidated
Foreign exchange gains ¥1.0 billion Consolidated
Foreign currency translation adjustment net of tax ¥-0.1 billion Consolidated
Extraordinary income ¥7.0 billion Consolidated
Effect of exchange rate change on cash and cash equivalents ¥0.6 billion Consolidated
Net increase (decrease) in cash and cash equivalents ¥9.8 billion Consolidated
Research and development expenses ¥2.00 million Consolidated
Income (loss) before income taxes ¥28.1 billion Consolidated
Income (loss) before income taxes ¥28.1 billion Consolidated
Ordinary income ¥21.0 billion Consolidated
Deferred gains or losses on hedges net of tax ¥4.8 billion Consolidated
Purchase of treasury stock ¥-1.00 million Consolidated
Comprehensive income attributable to owners of parent ¥29.9 billion Consolidated
Net cash provided by (used in) financing activities ¥-28.2 billion Consolidated
Provision of allowance for doubtful accounts ¥27.00 million Consolidated
Provision for bonuses ¥0.5 billion Consolidated
Remeasurements of defined benefit plans net of tax ¥0.5 billion Consolidated
Retirement benefit expenses ¥0.2 billion Consolidated
Other ¥0.2 billion Parent only
Other ¥58.00 million Parent only
Other shipping business revenue revenue shipping ¥0.6 billion Parent only
Other shipping business expenses wat ¥1.7 billion Parent only
Other ship expenses ship expenses shipping ¥97.00 million Parent only
Other navigation expenses navi expenses shipping ¥2.1 billion Parent only
General and administrative expenses ¥6.0 billion Parent only
Ship rental fee expenses shipping ¥99.9 billion Parent only
Dividends from surplus ¥-5.4 billion Parent only
Interest income ¥0.7 billion Parent only
Dividend income ¥1.1 billion Parent only
Operating income ¥12.8 billion Parent only
Non-operating income ¥3.7 billion Parent only
Non-operating expenses ¥0.8 billion Parent only
Loss on liquidation of subsidiaries general ¥42.00 million Parent only
Net income (loss) ¥17.2 billion Parent only
Net income (loss) ¥17.2 billion Parent only
Provision for directors' bonuses ¥43.00 million Parent only
Employees' salaries ¥2.2 billion Parent only
Interest expenses ¥0.2 billion Parent only
Income taxes - current ¥1.1 billion Parent only
Income taxes ¥-1.5 billion Parent only
Income taxes - deferred ¥-2.6 billion Parent only
Shipping business income wat ¥18.8 billion Parent only
Revenue - shipping ¥197.3 billion Parent only
Shipping business expenses wat ¥178.5 billion Parent only
Depreciation ¥64.00 million Parent only
Port expenses navi expenses shipping ¥20.2 billion Parent only
Foreign exchange gains ¥0.9 billion Parent only
Fuel expenses ¥50.6 billion Parent only
Extraordinary loss ¥42.00 million Parent only
Income (loss) before income taxes ¥15.7 billion Parent only
Ordinary income ¥15.7 billion Parent only
Purchase of treasury stock ¥-1.00 million Parent only
Crew expenses ship expenses shipping business expenses ¥1.0 billion Parent only
Depreciation ships ship expenses shipping ¥0.9 billion Parent only
Ship expenses expenses shipping ¥2.0 billion Parent only
Freight expenses navi expenses shipping ¥2.1 billion Parent only
Provision of allowance for doubtful accounts ¥27.00 million Parent only
Ship lease revenue shipping ¥18.6 billion Parent only
Provision for bonuses ¥0.4 billion Parent only
Provision for retirement benefits ¥31.00 million Parent only
Provision for retirement benefits ¥0.2 billion Parent only
Navigation expenses expenses shipping ¥75.0 billion Parent only
Freight and other revenue shipping ¥178.2 billion Parent only

Statement of changes in equity (4 items)

ItemValueConsolidated / Non-consolidated
Total changes during the period ¥24.5 billion Consolidated
Net changes in items other than shareholders' equity ¥5.8 billion Consolidated
Total changes during the period ¥16.5 billion Parent only
Net changes in items other than shareholders' equity ¥4.8 billion Parent only

Balance sheet (117 items)

ItemValueConsolidated / Non-consolidated
Other ¥0.2 billion Consolidated
Other ¥0.9 billion Consolidated
Other ¥7.7 billion Consolidated
Other ¥13.5 billion Consolidated
Valuation difference on available-for-sale securities ¥2.8 billion Consolidated
Other, net ¥0.3 billion Consolidated
Retained earnings ¥152.2 billion Consolidated
Prepaid expenses ¥5.6 billion Consolidated
Raw materials and supplies ¥17.4 billion Consolidated
Non-current liabilities ¥60.1 billion Consolidated
Non-current assets ¥162.2 billion Consolidated
Land ¥2.00 million Consolidated
Contract liabilities ¥5.1 billion Consolidated
Buildings, net ¥0.4 billion Consolidated
Construction in progress ¥15.4 billion Consolidated
Provision for directors' bonuses ¥0.1 billion Consolidated
Investments and other assets ¥11.8 billion Consolidated
Investment securities ¥6.5 billion Consolidated
Notes and operating accounts payable trade ¥17.9 billion Consolidated
Securities ¥24.0 billion Consolidated
Property, plant and equipment ¥148.7 billion Consolidated
Income taxes payable ¥1.3 billion Consolidated
Accrued expenses ¥0.3 billion Consolidated
Accounts payable - other ¥0.2 billion Consolidated
Shareholders' equity ¥178.7 billion Consolidated
Inventories ¥17.4 billion Consolidated
Current liabilities ¥49.1 billion Consolidated
Current assets ¥134.1 billion Consolidated
Accumulated depreciation ¥-179.0 billion Consolidated
Foreign currency translation adjustment ¥-0.3 billion Consolidated
Intangible assets ¥1.8 billion Consolidated
Provision for special repairs ¥7.5 billion Consolidated
Cash and cash equivalents ¥65.6 billion Consolidated
Cash and deposits ¥41.7 billion Consolidated
Short-term loans payable ¥15.6 billion Consolidated
Net assets ¥187.2 billion Consolidated
Net assets ¥187.2 billion Consolidated
Total assets ¥296.4 billion Consolidated
Total assets ¥296.4 billion Consolidated
Deferred gains or losses on hedges ¥5.7 billion Consolidated
Deferred tax liabilities ¥4.1 billion Consolidated
Deferred tax assets ¥2.3 billion Consolidated
Treasury stock ¥-1.0 billion Consolidated
Vessels net ¥132.5 billion Consolidated
Valuation and translation adjustments ¥8.5 billion Consolidated
Liabilities ¥109.2 billion Consolidated
Liabilities and net assets ¥296.4 billion Consolidated
Allowance for doubtful accounts ¥-38.00 million Consolidated
Capital surplus ¥17.2 billion Consolidated
Capital stock ¥10.3 billion Consolidated
Provision for bonuses ¥0.8 billion Consolidated
Remeasurements of defined benefit plans ¥0.3 billion Consolidated
Net defined benefit liability ¥0.2 billion Consolidated
Net defined benefit asset ¥2.2 billion Consolidated
Long-term loans payable ¥48.0 billion Consolidated
Long-term loans receivable ¥6.00 million Consolidated
Other ¥0.3 billion Parent only
Other ¥0.8 billion Parent only
Other ¥0.8 billion Parent only
Other ¥8.8 billion Parent only
Other ¥1.0 billion Parent only
Valuation difference on available-for-sale securities ¥2.4 billion Parent only
Other capital surplus ¥13.4 billion Parent only
Other, net ¥0.1 billion Parent only
Debt for agency clwat ¥2.2 billion Parent only
Accounts receivable form agents cawat ¥1.7 billion Parent only
Investments in capital ¥0 Parent only
General reserve ¥18.0 billion Parent only
Retained earnings ¥130.4 billion Parent only
Legal retained earnings ¥2.1 billion Parent only
Prepaid pension cost ¥1.6 billion Parent only
Prepaid expenses ¥4.4 billion Parent only
Raw materials and supplies ¥15.9 billion Parent only
Non-current liabilities ¥15.6 billion Parent only
Non-current assets ¥101.2 billion Parent only
Land ¥1.00 million Parent only
Buildings, net ¥0.2 billion Parent only
Provision for directors' bonuses ¥43.00 million Parent only
Investments and other assets ¥81.9 billion Parent only
Investment securities ¥2.0 billion Parent only
Securities ¥22.0 billion Parent only
Property, plant and equipment ¥17.6 billion Parent only
Consumption taxes receivable ¥0.4 billion Parent only
Income taxes payable ¥0.3 billion Parent only
Accrued expenses ¥0.2 billion Parent only
Accounts payable - other ¥69.00 million Parent only
Shareholders' equity ¥155.6 billion Parent only
Inventories ¥15.9 billion Parent only
Current liabilities ¥33.0 billion Parent only
Current assets ¥110.5 billion Parent only
Accounts payable shipping clwat ¥13.9 billion Parent only
Intangible assets ¥1.7 billion Parent only
Cash and deposits ¥21.1 billion Parent only
Short-term loans payable ¥1.2 billion Parent only
Advances paid ¥2.8 billion Parent only
Net assets ¥163.1 billion Parent only
Net assets ¥163.1 billion Parent only
Total assets ¥211.7 billion Parent only
Deferred gains or losses on hedges ¥5.1 billion Parent only
Deferred tax assets ¥0.1 billion Parent only
Retained earnings brought forward ¥110.3 billion Parent only
Treasury stock ¥-1.0 billion Parent only
Vessels net ¥5.7 billion Parent only
Valuation and translation adjustments ¥7.5 billion Parent only
Liabilities ¥48.6 billion Parent only
Liabilities and net assets ¥211.7 billion Parent only
Allowance for doubtful accounts ¥-38.00 million Parent only
Capital surplus ¥15.9 billion Parent only
Legal capital surplus ¥2.5 billion Parent only
Capital stock ¥10.3 billion Parent only
Provision for bonuses ¥0.4 billion Parent only
Long-term loans payable ¥12.7 billion Parent only
Long-term loans receivable ¥5.00 million Parent only
Shares of subsidiaries and associates ¥5.7 billion Parent only
Loans receivable to subsidiaries and affiliates ¥8.9 billion Parent only
Long-term loans receivable from subsidiaries and affiliates ¥71.7 billion Parent only
Deposits received ¥8.9 billion Parent only

Statement of cash flows (26 items)

ItemValueConsolidated / Non-consolidated
Other ¥-1.4 billion Consolidated
Other ¥4.00 million Consolidated
Interest expenses paid ¥-1.4 billion Consolidated
Interest and dividends income received ¥0.4 billion Consolidated
Interest and dividend income ¥-0.4 billion Consolidated
Increase decrease in operating debt ¥3.8 billion Consolidated
Decrease increase in operating receivables ¥3.0 billion Consolidated
Subtotal ¥39.0 billion Consolidated
Increase decrease in provision for directors bonuses ¥30.00 million Consolidated
Purchase of investment securities ¥-0.2 billion Consolidated
Equity in earnings losses of affiliates ¥-13.00 million Consolidated
Interest expenses ¥1.4 billion Consolidated
Loss gain on sales of property plant and equipment and intangible assets ¥-7.0 billion Consolidated
Increase (decrease) in accounts payable-other ¥-46.00 million Consolidated
Decrease (increase) in inventories ¥-3.6 billion Consolidated
Income taxes paid ¥-2.6 billion Consolidated
Depreciation ¥16.2 billion Consolidated
Foreign exchange loss (gain) ¥-0.7 billion Consolidated
Increase decrease in provision for special repairs ¥-0.5 billion Consolidated
Decrease/increase in short-term loans payable ¥-0.1 billion Consolidated
Regarding purchase of treasury stock ¥-1.00 million Consolidated
Increase (decrease) in allowance for doubtful accounts ¥27.00 million Consolidated
Increase (decrease) in provision for bonuses ¥37.00 million Consolidated
Dividends ¥-5.4 billion Consolidated
Proceeds from long term loans payable ¥9.0 billion Consolidated
Repayment of long term loans payable ¥-31.7 billion Consolidated
Basic indicators
ItemValueConsolidated / Non-consolidatedSource
Net cash provided by (used in) operating activities ¥35.4 billion ConsolidatedDisclosed
Dividend per share 310 Parent onlyDisclosed
Number of employees 669 ConsolidatedDisclosed
Net assets ¥187.2 billion ConsolidatedDisclosed
Net sales ¥229.8 billion ConsolidatedDisclosed
Operating income ¥20.5 billion ConsolidatedDisclosed
Ordinary income ¥21.0 billion ConsolidatedDisclosed
Net income ¥24.1 billion ConsolidatedDisclosed
Total assets ¥296.4 billion ConsolidatedDisclosed
Operating margin 8.9%ConsolidatedCalculated
Net margin 10.5%ConsolidatedCalculated
Sales per employee 343473842 yenConsolidatedCalculated
Total asset turnover 0.78 timesConsolidatedCalculated
Net assets to total assets 63.2%ConsolidatedCalculated
How to read the figures, and caveats

Terms

  • Consolidated: the parent company together with the subsidiaries it consolidates
  • Parent-only: the single company that filed the annual securities report
  • Calculated: a disclosed figure put through the formula shown
  • Not disclosed: no such value in the filing (not treated as zero)
  • Not retrieved: a value this page could not extract, including values in the filing that could not be matched. The same item may appear in another table
  • Segment: a business division the company uses in its disclosures
  • Industry median: the middle value among companies in the same industry that disclose the item
  • ★: position when every company is lined up by value (not a judgement of the company)See the formulas
  • Source: document name, period covered, filing date and where it was obtained
  • Tables scroll sideways

Key figures

  • Operating margin 8.9%　Operating income ÷ net sales 　＝ ¥20.5 billion ÷ ¥229.8 billion
    Operating income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Net margin 10.5%　Net income ÷ net sales 　＝ ¥24.1 billion ÷ ¥229.8 billion
    Net income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Sales per employee 343,473,842 yen　Sales or operating revenue ÷ employees 　＝ ¥229.8 billion ÷ 669 people
    Sales or operating revenue ÷ employees. The denominator is Number of employees (Consolidated, Japanese GAAP).
  • Total asset turnover 0.78 times　Sales or operating revenue ÷ total assets 　＝ ¥229.8 billion ÷ ¥296.4 billion
    Sales or operating revenue ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).
  • Net assets to total assets 63.2%　Net assets ÷ total assets 　＝ ¥187.2 billion ÷ ¥296.4 billion
    Net assets ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).

Company details

  • Representative　President, Representative Director, gBizINFO
  • Consolidated subsidiaries　Annual Securities Report

Revenue and profit by business segment

  • Source: segment information, Annual Securities Report (Apr 2025 to Mar 2026) · Consolidated · Net sales to external customers · filed 2026-06-23
  • Share: against the total of Net sales to external customers disclosed by business (100%). Adjustments, corporate, eliminations and “other” left out as they are not businesses (so no match with company-wide Net sales to external customers). Margin: calculated against the Net sales to external customers on the same row“報告セグメント計” in the segment information of the annual securities report: ¥229.8 billion. Gap against this table’s total (the part not listed as a business, such as “other”) within 1%The account may differ from “Revenue” at the top of this page

Amounts by account

  • Totals and their component lines together; consolidated and parent-only figures mixed (right-hand column)

Selling, general and administrative expenses

  • Breakdown of selling, general and administrative expenses (costs of selling and running the company). Cost of sales not included
  • Each item: already inside the SG&A total (not added to it)

Finance

  • Net assets to total assets　Net assets ÷ total assets
  • Return on assets (ROA)　Net income ÷ total assets (consolidated)
  • Net assets per share　Consolidated
  • Free cash flow　Free cash flow: operating cash flow (cash generated by the business) plus investing cash flow (asset purchases, disposals and other investments), consolidated
  • Total assets　Consolidated

Capital allocation

  • ★: position when all companies are sorted by value and cut into fifths (a position, not a rating). The five items with ★: only where both numerator and denominator are available on a consolidated basisSee the formulas
  • Cash conversion　Net cash provided by (used in) operating activities ÷ operating income
  • Return to shareholders　(dividends paid + purchase of treasury stock) ÷ net cash provided by operating activities。Dividends paid ¥5.4 billion + purchase of treasury stock ¥1.00 million, over operating cash flow ¥35.4 billion
  • Investment securities to net assets　Investment securities ÷ net assets。Investment securities ¥6.5 billion, over net assets ¥187.2 billion

Long-term changes in performance

  • Revenue　Disclosed value for 2026 ÷ disclosed value for 2013

Year-on-year comparison

  • Year on year: calculated only where the item, reporting range and accounting standard match and the periods are consecutive
  • Comparison basis not confirmed: periods with a change of accounting standard or reporting range, a moved fiscal year end, or an unconfirmed period
  • ◆: a period where revenue moved 20% or more from the prior year, profit as a share of revenue moved 2.0 percentage points or more, or profit or loss changed sign. Item used named in the table and list. Not a ranking of companies

Earnings and net assets per share over time

  • Earnings per share = net profit ÷ shares; net assets per share = net assets ÷ shares. Disclosed values from the key financial indicators of the annual securities report. No share prices used

Return on equity over time

  • Return on equity (ROE): net profit as a proportion of equity. For Japanese companies, the disclosed value in the key financial indicators of the annual securities report (decimals converted to percentages)

Dividend history

  • Payout ratio: dividends as a proportion of net profit. Dividend amounts and payout ratios: the reporting company’s parent-only disclosed values (as written in the annual securities report, not recalculated from consolidated profit). Consecutive increases: years in a row, from the latest backwards, in which the annual dividend per share rose. Consecutive years with a dividend: years in a row with an annual dividend per share above zero. Both this site’s own count (not the criteria of any published index). A year with no disclosure not read as zero; counting stops there. Range limited to the years listed above. Flagged 1 years: a note about a stock split or share consolidation, or a period other than 12 months. No calculation across those years, as the dividend per share may rest on a different share base.

Share ownership by holder category

  • Source: ownership table, annual securities report. Percentages as disclosed, calculated on trading units (some companies do not total exactly 100%). Foreign holders (total): institutions and individuals combined. “Individuals and others”: a register category (not necessarily the share actually held by individuals). Industry median: the middle value among companies in Marine Transportation that disclose the item (industries with at least 5 companies only).

Major shareholders

  • Source: major shareholders table, annual securities report. Trust bank holdings as written (whose trust is not disclosed)

Research and development expenses and capital expenditure

  • Research and development: total in the R&D section of the annual securities report. Capital expenditure: this year’s actual spending in the capital expenditure overview (not a plan). Years: only those available in the annual securities reports on hand (one to four per company); no row for other years. Share of revenue: divided by consolidated revenue in the same annual securities report. Industry median: the middle value among companies in Marine Transportation that disclose the item (industries with at least 5 companies only). Segment names and order: the same as the segment table above. Group-wide research and adjustments mean segment figures may not add up to the company-wide amount.

Revenue scale in the same industry

  • Revenue (disclosed values) of companies in the same industry, using the same grouping as the industry pages. Only the top three and the two companies either side of this one. Bar length relative to the largest company (100). An order of size, not a ranking of quality

Workforce information

  • All four: the reporting company (parent-only), as disclosed in the employee section of the annual securities report. Employees across the consolidated group: 669 (a different scope, kept apart from the four above). Industry median: the middle value among companies in Marine Transportation that disclose the item (industries with at least 5 companies only).

People and organisation

  • Sales per employee　Net sales (or operating revenue) ÷ employees
  • Operating income per employee　Operating income ÷ employees
  • Wage gap between men and women　Women's pay with men's pay set to 100, reporting company
  • Women in managerial positions　Reporting company (parent only)
  • Men taking childcare leave　Reporting company (parent only)

Workplace information filings

  • Source: processed from Shokuba-labo, the workplace information site of the Ministry of Health, Labour and Welfare. Items the company filed only Shokuba-labo

Audit and disclosure information

  • Whether there is a going concern note (the accounting assumption that a company will continue operating), and audit information
  • Audit firm, audit fees, going concern note and accounting standard: facts written in the latest annual securities report and the audit report filed with it (not a judgement of the company). Going concern note: “note” when the note text is present, “not applicable” when the report states nothing to report, “cannot be determined” when neither appears. Note text not reproduced. Amended filings not shown (annual securities reports only)

Data sources and calculation methods

Primary source: the annual securities report of NS UNITED KAIUN KAISHA, LTD. on EDINET, the FSA’s disclosure system (free to read)
Corporate number: 3010001095003 / Accounting standard: Japanese GAAP

  • Amounts: machine transcription of EDINET XBRL (no manual re-keying). Long narrative notes are text and not in the account list. Identifiers: machine transcription of the EDINET code list (retrieved 2026-08-22)
  • ★: position of the value calculated from disclosed figures among the 4,240 companies on this site, on a five-step scale. Not a judgement of the company. No forecasts usedThe formulas and how they are counted
  • No rank: net assets as a share of total assets, cash conversion and revenue per employee (size alone does not show quality). Industry median shown for comparison. Cash conversion of 100%: operating cash flow equal to operating profit
  • Profit-and-loss chart: only where “sales − cost of sales − SG&A = operating income” holds between disclosed values. Cost breakdown: the six largest SG&A items
  • Trend charts: key financial indicators of the annual securities report. Amounts in billions of yen (dividend per share in yen). Long-run chart joins reports filed in different years (newer report for overlapping years). Some items stop part-way after a change of accounting standard. A stock split changes the weight of one share. Consolidated and parent-only in separate tables
  • Revenue scale in the same industry: bars of revenue (disclosed values) of companies in the same industry grouping as the industry pages, largest first. Only the top three and the two companies either side of this one. Each company’s latest fiscal year. An order of size, not a ranking of quality or an investment view
  • Share prices: not published (no data source allows redistribution). No share-price-based indicators (such as the price earnings ratio) and no extension of past growth into the future
  • Average age, average length of service and average annual salary: the reporting company alone (the parent). At a holding company, a small head-office staff. Payout ratio (basic facts): dividend per share ÷ consolidated earnings per share, calculated here (the payout ratio in the annual securities report is the reporting company’s figure, on a different basis). Representative and founding date: gBizINFO (Ministry of Economy, Trade and Industry), some companies only
  • “Retrieved disclosed figures”: every value readable as a number from the annual securities report. Company-wide values only (no segment or other breakdowns)
  • Segment table: machine transcription of the segment information in the annual securities report. Business names as labelled by the company in its XBRL. No table where segment sales differ from the disclosed total by more than 1%. Adjustments, corporate, eliminations and “other” left out of the table and the share denominator, as they are not businesses
  • Breakdowns of amounts, not diagrams of how the business works. Who pays whom, and for what, is not in the disclosed figures; no lines drawn from guesswork