Kaiun (9119) announced its consolidated results for the first quarter of the 2025 fiscal year ending in March 2025 (April-June 2024). Sales increased by 16.4% year-on-year to JPY 38.167 billion, operating profit was JPY 5.329 billion, up 41.1% year-on-year, recurring profit increased by 27.2% year-on-year to JPY 6.414 billion, and net income for the quarter attributable to the parent company's shareholders increased by 42.1% year-on-year to JPY 6.744 billion.

Revenue of foreign maritime shipping increased by 18.1% year-on-year to JPY 32.059 billion, and operating profit was JPY 4.731 billion, up 71.5% year-on-year. Large crude oil tankers continued to be deployed under long-term contracts for stable income. Chemical tankers secured operating profitability by actively taking in high-priced spot cargo in addition to stable quantity transportation contracts for European and Asian routes, which are the backbone routes from the Middle East. Both LPG and LNG carriers secured stable income by focusing on the existing medium- to long-term contracts, and some vessels enjoyed favorable market trends. The specialized ships of the dry bulk carrier continued to operate smoothly and contributed to stable income. The irregularly scheduled fleet centered on Post Panamax type and Handy type improved profitability due to the favorable market trends of Post Panamax type, but the distribution of voyages that were contracted during a period when the market was soft in the Handy type coincided with this quarter.

Revenue from domestic and near-sea maritime shipping increased by 18.4% year-on-year to JPY 2.886 billion, but operating profit decreased by 4.2% year-on-year to JPY 0.062 billion. Coastal gas transportation was affected by reduced operation due to a large number of shipyard stays, etc., but the company focused on efficient distribution by centering on existing contracts.

Offshore gas transportation secured stable charter revenue based on existing medium- to long-term contracts.

Revenue from real estate increased by 0.4% year-on-year to JPY 3.243 billion, but operating profit decreased by 43.9% year-on-year to JPY 0.535 billion. The company's owned office floors continued to operate smoothly, maintaining stable income. In commercial floors, although some vacancies remained, there were signs of recovery in sales, mainly in food and beverage tenants. In London's office building rental business, both office floors and commercial floors operated smoothly, maintaining income. On the other hand, initial costs for the second office building acquired at the end of the previous period were recorded in this first quarter consolidated accounting period. In Iinoho Hall & Conference Center, a group company of the company, cultural events continued to thrive, and business event recovery continued, improving occupancy rates. At Iino Media Pro, which operates the studio business of real estate-related business, it continued to thrive, capturing the demand for entertainment industry filming.

The company announced an upward revision of its consolidated performance forecast for the fiscal year ending March 2025. The company forecasts sales of JPY 145 billion, up 5.1% from the previous year (compared to the previous forecast of 6.6% increase), operating profit of JPY 19.2 billion, up 0.7% from the previous year (24.7% increase), recurring profit of JPY 18.4 billion, down 15.6% from the previous year (26.9% increase), and net income for the period attributable to the parent company's shareholders of JPY 17.2 billion, down 12.9% from the previous year (22.0% increase).

On the same day, the company announced a increase in interim dividend per share by JPY 5.00 from the previous forecast to JPY 25.00 per share and an increase in year-end dividend per share by JPY 4.00 to JPY 24.00, resulting in an annual dividend of JPY 49.00 (compared to JPY 56.00 for the previous year).