Mitsui O.S.K. Lines (MOL) reported exceptional financial results for fiscal year 2024 while warning of dramatically weaker performance ahead as shipping market conditions deteriorate.
Japan’s MOL posted a 62.6% jump in profit to ¥425.4 billion ($2.78 billion at current rates) on revenue of ¥1.77 trillion for the year ended March 31, 2025. The company cited strong performance in container shipping, car carrier operations, and its energy business including chemical tankers as key profit drivers. A favorable exchange rate with the yen depreciating to ¥152.79/US$ from ¥143.43/US$ in the previous year also boosted results.
However, MOL projects a 60% profit decline to ¥170 billion for fiscal 2025. “A year-on-year decline in profit is expected as market rates for the containership business, the car carrier business, and the chemical tanker business have peaked out, and slow cargo movement and appreciation of yen are assumed with concerns over inflation and global economy stagnation due to the U.S. tariff policies,” the company stated in its earnings report.
The shipping giant is continuing its shareholder return program, planning to pay ¥150 per share in annual dividends for FY2025 and implementing a share repurchase program of up to 100 billion yen through October 2025.
