{"id":30589,"date":"2026-04-13T12:00:33","date_gmt":"2026-04-13T03:00:33","guid":{"rendered":"https:\/\/www.tsuneishi-g.jp\/?post_type=news&#038;p=30589"},"modified":"2026-06-04T10:59:43","modified_gmt":"2026-06-04T01:59:43","slug":"tsuneishi-group-reports-consolidated-financial-results-for-fy2025","status":"publish","type":"news","link":"https:\/\/www.tsuneishi-g.jp\/english\/news\/press\/2026\/04\/30589\/","title":{"rendered":"TSUNEISHI Group Reports Consolidated Financial Results for FY2025"},"template":"","industry":[1131],"news-format":[1133],"news-tag":[],"enterprise":[1142],"news-cat":[1210],"class_list":["post-30589","news","type-news","status-publish","hentry","industry-tsuneishi-group","news-format-press","enterprise-tsuneishi-group","news-cat-business-reports"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.9 - aioseo.com -->\n\t<meta name=\"description\" content=\"TSUNEISHI Group Co., Ltd. announced its consolidated financial results for the fiscal year 2025 (1 January \u2013 31 December 2025). Consolidated revenue totalled JPY 348.0 billion (down 4.8% year-on-year), while ordinary profit reached JPY 32.5 billion (down 29.0% year-on-year). Segment Performance Revenue by segment was as follows: Shipping Business Revenue decreased by JPY 6.1 billion year-on-year to JPY 53.1 billion (down 10.0%), mainly due to weak charter markets in the first half, reduced charter income following the sale of car carriers, and a decline in resale transactions of newbuild vessels. Shipbuilding Business Revenue decreased by JPY 11.8 billion to JPY 263.0 billion (down 4.2%), reflecting fewer vessel deliveries due to extended construction periods for Alternative-Fuel Vessels. Environmental Business Revenue declined by JPY 8.2 billion to JPY 20.3 billion (down 28.7%), primarily due to the application of new revenue recognition standards in the non-ferrous metals business in Malaysia. Trading &amp; Energy Business Revenue decreased by JPY 6.2 billion to JPY 63.2 billion (down 9.0%), as steel prices stabilised. Life &amp; Resorts Business Revenue fell by JPY 1.1 billion to JPY 4.3 billion (down 20.3%), despite increased demand driven by expanded cruise routes for gunt\u00fb, due to the closure of Bella Vista Spa &amp; Marina Onomichi. TSUNEISHI Group Consolidated Revenue by Business Segment (FY2025) (after intercompany eliminations) TSUNEISHI Group Consolidated Revenue Trend (after intercompany eliminations) * Revenue figures in the main text are reported before intercompany eliminations. Overall Performance Despite a year-on-year decline following record-high results in FY2024, FY2025 marked the second-highest performance level since the introduction of consolidated accounting in 2007. Overall, the Group maintained a steady growth trajectory, demonstrating the continued resilience of its business portfolio. The Group also formulated its long-term vision, \u201cTSUNEISHI Group Michishirube 2035\u201d, setting out a growth strategy centred on achieving \u201cNiche Top and Area Top\u201d positions, alongside a cultural principle, \u201cTo be driven by people, committed to people,\u201d which emphasises placing people at the centre of decision-making and organisational development. By fostering an organisation in which each employee can act autonomously based on shared values, the Group aims to strengthen its resilience to change and accelerate transformation. Looking ahead, TSUNEISHI Group targets JPY 800.0 billion in business scale over the next decade, positioning itself as a driver of transformation. Financial Information \u30fbFiscal Year: January \u2013 December \u30fbConsolidated Entities: 40 companies (21 domestic, 19 overseas) Shipping Business FY2025 Overview The bulk carrier market remained at a low level from the beginning of the year. In addition, uncertainty in the market increased further due to the introduction of reciprocal tariffs by the United States, as well as port entry charges imposed on China-related vessels and non-US-built ships. As a result of these factors, revenue declined in the first half of the year, reflecting a combination of weak charter market conditions for bulk carriers, reduced charter income following the sale of car carriers, and a decrease in resale transactions of newbuild vessels. Despite this, revenue exceeded the budget. In the vessel chartering business, market conditions were supported by several factors, including restrictions on domestic coal production in China, a recovery in iron ore demand for China, and a more than 20% year-on-year increase in seaborne bauxite shipments, which involve long-distance transportation. In the second half of the year, the Group actively capitalised on the recovery in the bulk carrier market by securing charter contracts for open positions in 2025 and 2026, while also promoting the fixing of index-linked charter rates. In the container vessel chartering business, the Group recorded losses in line with the budget, as rising US dollar borrowing costs could not be fully absorbed by previously contracted charter rates. In contrast, product tankers maintained favourable market conditions, serving as a key driver of earnings improvement. For LPG carriers, a second newly built vessel was delivered in October 2025, and a time charter contract was concluded with a European energy company. In addition, the Japan\u2013China liner container service, which marked its 30th anniversary, maintained stable operations, supported by steady demand and optimisation of service schedules. In terms of fleet development, four vessels were added during the year: a methanol dual-fuel 66BC in May, a newly designed KAMSARMAX in July, a hydrogen-blended fuel tugboat in October, and an LPG carrier. FY2026 Outlook In 2025, the adoption of mid-term measures by the International Maritime Organization (IMO) aimed at reducing greenhouse gas (GHG) emissions was postponed due to strong opposition from the United States, which may affect the wider adoption of alternative fuel vessels. Against this backdrop, the Group will continue to enhance the environmental performance of its owned fleet. Specifically, it will promote decarbonisation by installing energy-saving devices and utilising biofuels compatible with existing engines, in cooperation with charterers. In March 2026, a newly built LNG dual-fuel bulk carrier was added to the fleet. Going forward, the Group will continue to diversify vessel types in order to mitigate exposure to market volatility. Furthermore, the delivery of two material transport vessels is scheduled for FY2026, with the aim of strengthening stable logistics to overseas shipyards operated by TSUNEISHI Shipbuilding. Shipbuilding Business FY2025 Overview In FY2025, the Group constructed 41 vessels, including dual-fuelled vessels (compared with 42 vessels in the previous year), maintaining a high level of production while ensuring stable business operations. On the order front, although the peak in newbuilding orders seen in previous years subsided and shipowners adopted a more cautious stance, the Group successfully captured steady demand, particularly from repeat customers. As a result, supported by a solid order backlog accumulated in prior years, it continues to secure a sufficient volume of work in hand. The continued depreciation of the Japanese yen contributed to increased revenue; however, through strategic foreign exchange management, the Group was also able to maximise profitability. In the newbuilding business, the Group further strengthened its development of dual-fuelled vessels. Leveraging expertise gained through the in-house production of LPG tanks, it has advanced the construction of vessels powered by LNG, methanol and hydrogen. In particular, for methanol-fuelled vessels, production was first established at the domestic headquarters yard and subsequently expanded to two overseas shipyards, where a continuous construction system has now been successfully implemented. In addition, the Group obtained Approval in Principle (AiP) from ClassNK for methanol-fuelled vessel designs applicable not only to newbuildings but also to existing vessels. This expands decarbonisation options and further enhances the Group\u2019s ability to meet diverse customer needs. The jointly developed \u201cBingo42\u201d with Onomichi Dockyard represents another key initiative, where both companies shared expertise and development philosophies to enhance the value of conventional vessel designs. This has resulted in improved fuel efficiency while reducing design and development workload. At the design base established in Timor-Leste in 2024, the Group continues to develop engineering talent and is gradually transitioning to detailed design work for actual vessels. Regarding the construction of a new shipyard, discussions with the government are ongoing; however, following the visit of President Jos\u00e9 Ramos-Horta last summer, cooperation from the local government has strengthened, accelerating progress on the project. Building on the expertise accumulated through its global expansion, the Group is steadily advancing plans to expand its shipbuilding capacity. In the ship repair business, the \u201crepair network\u201d established in collaboration with domestic Group companies has continued to deliver solid results. The Group will further strengthen inter-company collaboration to maximise both revenue and profitability. During the year, the Group also undertook a reorganisation of its capital structure and implemented corporate name changes, reinforcing the management foundation of the shipbuilding segment and promoting more integrated operations. This has further strengthened Group-wide collaboration across newbuilding, repair, and design and development functions, enhancing overall competitiveness. Furthermore, as a foundation supporting these initiatives, the Group continues to invest in talent acquisition and development, as well as improvements in employee benefits, creating a working environment in which each employee can fully realise their potential. FY2026 Outlook In FY2026, the Group will focus on strengthening its shipbuilding competitiveness through faster product development, enhanced production efficiency, and greater lifecycle value for customers. To respond to increasingly diverse market needs, the Group will pursue shorter design lead times and more advanced product development methodologies. At the same time, it will further advance factory automation and the utilisation of digital technologies to improve productivity and create more sophisticated production environments. Development of the seventh-generation KAMSARMAX is also progressing, with a focus on compliance with EEDI Phase 4 requirements and future upgrade readiness. These efforts will further enhance energy efficiency while reinforcing the competitiveness of the Group\u2019s core vessel portfolio. Beyond newbuilding, the Group will place greater emphasis on post-delivery operational support and maintenance services, creating additional value across the vessel lifecycle. Through these initiatives, it aims to strengthen long-term customer relationships, deliver greater value to customers, and support sustainable growth. Environmental Business FY2025 Overview Amid accelerating corporate efforts to reduce environmental impact, including decarbonisation and the transition to renewable energy, the Group expanded its material recycling operations within the Environmental Business. However, from this fiscal year, the application of new accounting standards (revenue recognition standards) to the non-ferrous metals business operated by Cycle Trend Industries Sdn. Bhd. resulted in a decline in reported revenue. Under the previous accounting standards, the business would have recorded an increase in revenue. In addition, at TSUNEISHI KAMTECS CORPORATION, reduced production caused by issues such as a malfunction in incineration facilities at the Fukuyama plant led to a decrease in profit for the year. FY2026 Outlook Leveraging its licences and capabilities across a wide range of waste treatment processes\u2014including incineration, melting, calcination, blending, fermentation and waste oil treatment\u2014the Group will work to establish a framework for delivering integrated environmental solutions that enable resource recycling across multiple regions through its network. In addition to improving recycling rates for both industrial and municipal waste, the Group will promote capital investment and technological development aimed at reducing CO\u2082 emissions and advancing decarbonisation. It will also respond swiftly to emerging challenges, including the handling of newly regulated substances. The Group will continue to ensure safe operations with zero accidents and full compliance, while accelerating ESG-driven management and contributing to all stakeholders. Trading &amp; Energy Business FY2025 Overview In FY2025, while demand in key markets remained generally resilient, the Group focused on price optimisation, improvements in procurement and logistics efficiency, and the levelling of operations across its businesses, thereby ensuring stable supply and enhancing quality. In the steel and marine equipment trading business, revenue declined due to lower sales volumes and reduced unit prices for steel products. However, supported by the strong performance of the shipbuilding business, supply of materials to Group companies expanded. In addition, increased sales of higher-margin products, such as piping materials and equipment, contributed to overall profitability. In the energy business, although fuel sales volumes decreased, higher margins resulted in performance remaining broadly in line with the previous year. In the mobility business, profitability continued to improve, driven by higher gross margins in vehicle inspections, as well as increased demand for construction machinery rental and maintenance services. In the power business, the Group commenced electricity supply to its own operations, contributing to the advancement of GX (Green Transformation) initiatives across the TSUNEISHI Group. As part of its growth investments, the new business development division has executed seven initiatives since the merger of three companies in 2024, including both M&amp;A transactions and the launch of new businesses. Notably, in FY2025, the Group strengthened its business foundation through the acquisition of Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., both based in Kanazawa, Ishikawa Prefecture, in collaboration with Yoshida, a Group company within the Environmental Business. FY2026 Outlook To realise its \u201cNiche Top and Area Top\u201d strategy, the Group will pursue both growth investments and the strengthening of its business foundation in parallel. In the mobility business, in addition to Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., which joined the Group in the previous year, Marusei Jidosha Co., Ltd. in Fukuyama is scheduled to join in FY2026. This will further strengthen the Group\u2019s commercial vehicle maintenance operations and accelerate the standardisation of quality and human resource development. The Group will continue to provide safety and reliability to customers through its automotive-related services, while promoting business expansion through service stations and the development of new business formats. As part of its contribution to the Group\u2019s sustainable growth, the power business will support the advancement of GX initiatives, while the steel and marine equipment trading business will contribute to production expansion through closer collaboration with Group companies. Under its medium-term policy of becoming \u201ca core company responsible for business creation within the TSUNEISHI Group\u201d, the division will continue to promote new business development and M&amp;A activities, further diversifying its business portfolio. Life &amp; Resorts Business FY2025 Overview In FY2025, the Life &amp; Resorts Business continued to enhance the value of its products and services. For gunt\u00fb, now in its eighth year of operation, this included the introduction of a new cabin category, \u201cTerrace Suite Prestige\u201d, as well as the development of a special Osaka cruise route launched in August 2025. These initiatives contributed to the acquisition of new customers and improved profitability. In addition, events across the Setouchi region attracted significant attention both domestically and internationally. These included the Hiroshima International Architecture Festival, which welcomed over 200,000 visitors, as well as the Setouchi Triennale and Okayama Art Summit. As a result, the multi-purpose complexes ONOMICHI U2 and LOG recorded strong growth. At Miroku no Sato, the expansion of the pool area helped alleviate congestion during the peak summer season and improved overall visitor comfort, contributing to increased attendance, particularly among families. In addition, the enhancement of seasonal events and experiential content created new reasons for visitation. School training programmes remained stable, supported by continued use from existing organisations. Meanwhile, sports events and training camps also performed steadily, underpinned by the development of flexible operational arrangements in response to extreme summer heat and other factors. However, overall revenue in the Life &amp; Resorts Business declined, primarily due to the temporary closure of Bella Vista Spa &amp; Marina Onomichi for redevelopment. FY2026 Outlook As part of efforts to strengthen the TSUNEISHI Group brand, three companies within the Life &amp; Resorts Business have adopted new corporate names incorporating \u201cTSUNEISHI\u201d. This initiative is intended to promote a shared identity and values across the Group, while enhancing overall cohesion. Looking ahead, the Group will further deepen its business across six key areas\u2014cruise operations, hotels, marinas, leisure facilities, training facilities, and food and beverage services\u2014by implementing initiatives aimed at enhancing customer value. On 20 March 2026, a new attraction, \u201cTeppen Mountain\u201d, was opened at Miroku no Sato and is being positioned as a new driver of visitor growth. In addition, preparations are underway for the opening of a new hotel. The Group will also strengthen its efforts to capture inbound tourism demand not only from the domestic market but also from Europe, North America, Australia and Southeast Asia. \u3010About TSUNEISHI Group\u3011 Founded in 1903 as a shipping company, TSUNEISHI Group operates across five core business domains: shipbuilding, shipping, trading &amp; energy, environmental services, and life &amp; resorts. Under the slogan \u201cCreating the future, today\u201d, the Group continues to create unique value by anticipating the needs of the future. In 2025, the Group also established a Social Contribution Promotion Department to further expand its support for local communities. For further information, please contact: Corporate Communications Department TSUNEISHI GROUP CORPORATION Email: pr@tsuneishi.com Head Office: 1083 Tsuneishi, Numakuma-cho, Fukuyama, Hiroshima 720-0393, Japan Website: https:\/\/www.tsuneishi-g.jp\/\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"msvalidate.01\" content=\"C4AC19CFEA3F8366613E96D21044E7BB\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.tsuneishi-g.jp\/english\/news\/press\/2026\/04\/30589\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.9\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"Tsuneishi Group\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"TSUNEISHI Group Reports Consolidated Financial Results for FY2025 | Tsuneishi Group\" \/>\n\t\t<meta property=\"og:description\" content=\"TSUNEISHI Group Co., Ltd. announced its consolidated financial results for the fiscal year 2025 (1 January \u2013 31 December 2025). Consolidated revenue totalled JPY 348.0 billion (down 4.8% year-on-year), while ordinary profit reached JPY 32.5 billion (down 29.0% year-on-year). Segment Performance Revenue by segment was as follows: Shipping Business Revenue decreased by JPY 6.1 billion year-on-year to JPY 53.1 billion (down 10.0%), mainly due to weak charter markets in the first half, reduced charter income following the sale of car carriers, and a decline in resale transactions of newbuild vessels. Shipbuilding Business Revenue decreased by JPY 11.8 billion to JPY 263.0 billion (down 4.2%), reflecting fewer vessel deliveries due to extended construction periods for Alternative-Fuel Vessels. Environmental Business Revenue declined by JPY 8.2 billion to JPY 20.3 billion (down 28.7%), primarily due to the application of new revenue recognition standards in the non-ferrous metals business in Malaysia. Trading &amp; Energy Business Revenue decreased by JPY 6.2 billion to JPY 63.2 billion (down 9.0%), as steel prices stabilised. Life &amp; Resorts Business Revenue fell by JPY 1.1 billion to JPY 4.3 billion (down 20.3%), despite increased demand driven by expanded cruise routes for gunt\u00fb, due to the closure of Bella Vista Spa &amp; Marina Onomichi. TSUNEISHI Group Consolidated Revenue by Business Segment (FY2025) (after intercompany eliminations) TSUNEISHI Group Consolidated Revenue Trend (after intercompany eliminations) * Revenue figures in the main text are reported before intercompany eliminations. Overall Performance Despite a year-on-year decline following record-high results in FY2024, FY2025 marked the second-highest performance level since the introduction of consolidated accounting in 2007. Overall, the Group maintained a steady growth trajectory, demonstrating the continued resilience of its business portfolio. The Group also formulated its long-term vision, \u201cTSUNEISHI Group Michishirube 2035\u201d, setting out a growth strategy centred on achieving \u201cNiche Top and Area Top\u201d positions, alongside a cultural principle, \u201cTo be driven by people, committed to people,\u201d which emphasises placing people at the centre of decision-making and organisational development. By fostering an organisation in which each employee can act autonomously based on shared values, the Group aims to strengthen its resilience to change and accelerate transformation. Looking ahead, TSUNEISHI Group targets JPY 800.0 billion in business scale over the next decade, positioning itself as a driver of transformation. Financial Information \u30fbFiscal Year: January \u2013 December \u30fbConsolidated Entities: 40 companies (21 domestic, 19 overseas) Shipping Business FY2025 Overview The bulk carrier market remained at a low level from the beginning of the year. In addition, uncertainty in the market increased further due to the introduction of reciprocal tariffs by the United States, as well as port entry charges imposed on China-related vessels and non-US-built ships. As a result of these factors, revenue declined in the first half of the year, reflecting a combination of weak charter market conditions for bulk carriers, reduced charter income following the sale of car carriers, and a decrease in resale transactions of newbuild vessels. Despite this, revenue exceeded the budget. In the vessel chartering business, market conditions were supported by several factors, including restrictions on domestic coal production in China, a recovery in iron ore demand for China, and a more than 20% year-on-year increase in seaborne bauxite shipments, which involve long-distance transportation. In the second half of the year, the Group actively capitalised on the recovery in the bulk carrier market by securing charter contracts for open positions in 2025 and 2026, while also promoting the fixing of index-linked charter rates. In the container vessel chartering business, the Group recorded losses in line with the budget, as rising US dollar borrowing costs could not be fully absorbed by previously contracted charter rates. In contrast, product tankers maintained favourable market conditions, serving as a key driver of earnings improvement. For LPG carriers, a second newly built vessel was delivered in October 2025, and a time charter contract was concluded with a European energy company. In addition, the Japan\u2013China liner container service, which marked its 30th anniversary, maintained stable operations, supported by steady demand and optimisation of service schedules. In terms of fleet development, four vessels were added during the year: a methanol dual-fuel 66BC in May, a newly designed KAMSARMAX in July, a hydrogen-blended fuel tugboat in October, and an LPG carrier. FY2026 Outlook In 2025, the adoption of mid-term measures by the International Maritime Organization (IMO) aimed at reducing greenhouse gas (GHG) emissions was postponed due to strong opposition from the United States, which may affect the wider adoption of alternative fuel vessels. Against this backdrop, the Group will continue to enhance the environmental performance of its owned fleet. Specifically, it will promote decarbonisation by installing energy-saving devices and utilising biofuels compatible with existing engines, in cooperation with charterers. In March 2026, a newly built LNG dual-fuel bulk carrier was added to the fleet. Going forward, the Group will continue to diversify vessel types in order to mitigate exposure to market volatility. Furthermore, the delivery of two material transport vessels is scheduled for FY2026, with the aim of strengthening stable logistics to overseas shipyards operated by TSUNEISHI Shipbuilding. Shipbuilding Business FY2025 Overview In FY2025, the Group constructed 41 vessels, including dual-fuelled vessels (compared with 42 vessels in the previous year), maintaining a high level of production while ensuring stable business operations. On the order front, although the peak in newbuilding orders seen in previous years subsided and shipowners adopted a more cautious stance, the Group successfully captured steady demand, particularly from repeat customers. As a result, supported by a solid order backlog accumulated in prior years, it continues to secure a sufficient volume of work in hand. The continued depreciation of the Japanese yen contributed to increased revenue; however, through strategic foreign exchange management, the Group was also able to maximise profitability. In the newbuilding business, the Group further strengthened its development of dual-fuelled vessels. Leveraging expertise gained through the in-house production of LPG tanks, it has advanced the construction of vessels powered by LNG, methanol and hydrogen. In particular, for methanol-fuelled vessels, production was first established at the domestic headquarters yard and subsequently expanded to two overseas shipyards, where a continuous construction system has now been successfully implemented. In addition, the Group obtained Approval in Principle (AiP) from ClassNK for methanol-fuelled vessel designs applicable not only to newbuildings but also to existing vessels. This expands decarbonisation options and further enhances the Group\u2019s ability to meet diverse customer needs. The jointly developed \u201cBingo42\u201d with Onomichi Dockyard represents another key initiative, where both companies shared expertise and development philosophies to enhance the value of conventional vessel designs. This has resulted in improved fuel efficiency while reducing design and development workload. At the design base established in Timor-Leste in 2024, the Group continues to develop engineering talent and is gradually transitioning to detailed design work for actual vessels. Regarding the construction of a new shipyard, discussions with the government are ongoing; however, following the visit of President Jos\u00e9 Ramos-Horta last summer, cooperation from the local government has strengthened, accelerating progress on the project. Building on the expertise accumulated through its global expansion, the Group is steadily advancing plans to expand its shipbuilding capacity. In the ship repair business, the \u201crepair network\u201d established in collaboration with domestic Group companies has continued to deliver solid results. The Group will further strengthen inter-company collaboration to maximise both revenue and profitability. During the year, the Group also undertook a reorganisation of its capital structure and implemented corporate name changes, reinforcing the management foundation of the shipbuilding segment and promoting more integrated operations. This has further strengthened Group-wide collaboration across newbuilding, repair, and design and development functions, enhancing overall competitiveness. Furthermore, as a foundation supporting these initiatives, the Group continues to invest in talent acquisition and development, as well as improvements in employee benefits, creating a working environment in which each employee can fully realise their potential. FY2026 Outlook In FY2026, the Group will focus on strengthening its shipbuilding competitiveness through faster product development, enhanced production efficiency, and greater lifecycle value for customers. To respond to increasingly diverse market needs, the Group will pursue shorter design lead times and more advanced product development methodologies. At the same time, it will further advance factory automation and the utilisation of digital technologies to improve productivity and create more sophisticated production environments. Development of the seventh-generation KAMSARMAX is also progressing, with a focus on compliance with EEDI Phase 4 requirements and future upgrade readiness. These efforts will further enhance energy efficiency while reinforcing the competitiveness of the Group\u2019s core vessel portfolio. Beyond newbuilding, the Group will place greater emphasis on post-delivery operational support and maintenance services, creating additional value across the vessel lifecycle. Through these initiatives, it aims to strengthen long-term customer relationships, deliver greater value to customers, and support sustainable growth. Environmental Business FY2025 Overview Amid accelerating corporate efforts to reduce environmental impact, including decarbonisation and the transition to renewable energy, the Group expanded its material recycling operations within the Environmental Business. However, from this fiscal year, the application of new accounting standards (revenue recognition standards) to the non-ferrous metals business operated by Cycle Trend Industries Sdn. Bhd. resulted in a decline in reported revenue. Under the previous accounting standards, the business would have recorded an increase in revenue. In addition, at TSUNEISHI KAMTECS CORPORATION, reduced production caused by issues such as a malfunction in incineration facilities at the Fukuyama plant led to a decrease in profit for the year. FY2026 Outlook Leveraging its licences and capabilities across a wide range of waste treatment processes\u2014including incineration, melting, calcination, blending, fermentation and waste oil treatment\u2014the Group will work to establish a framework for delivering integrated environmental solutions that enable resource recycling across multiple regions through its network. In addition to improving recycling rates for both industrial and municipal waste, the Group will promote capital investment and technological development aimed at reducing CO\u2082 emissions and advancing decarbonisation. It will also respond swiftly to emerging challenges, including the handling of newly regulated substances. The Group will continue to ensure safe operations with zero accidents and full compliance, while accelerating ESG-driven management and contributing to all stakeholders. Trading &amp; Energy Business FY2025 Overview In FY2025, while demand in key markets remained generally resilient, the Group focused on price optimisation, improvements in procurement and logistics efficiency, and the levelling of operations across its businesses, thereby ensuring stable supply and enhancing quality. In the steel and marine equipment trading business, revenue declined due to lower sales volumes and reduced unit prices for steel products. However, supported by the strong performance of the shipbuilding business, supply of materials to Group companies expanded. In addition, increased sales of higher-margin products, such as piping materials and equipment, contributed to overall profitability. In the energy business, although fuel sales volumes decreased, higher margins resulted in performance remaining broadly in line with the previous year. In the mobility business, profitability continued to improve, driven by higher gross margins in vehicle inspections, as well as increased demand for construction machinery rental and maintenance services. In the power business, the Group commenced electricity supply to its own operations, contributing to the advancement of GX (Green Transformation) initiatives across the TSUNEISHI Group. As part of its growth investments, the new business development division has executed seven initiatives since the merger of three companies in 2024, including both M&amp;A transactions and the launch of new businesses. Notably, in FY2025, the Group strengthened its business foundation through the acquisition of Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., both based in Kanazawa, Ishikawa Prefecture, in collaboration with Yoshida, a Group company within the Environmental Business. FY2026 Outlook To realise its \u201cNiche Top and Area Top\u201d strategy, the Group will pursue both growth investments and the strengthening of its business foundation in parallel. In the mobility business, in addition to Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., which joined the Group in the previous year, Marusei Jidosha Co., Ltd. in Fukuyama is scheduled to join in FY2026. This will further strengthen the Group\u2019s commercial vehicle maintenance operations and accelerate the standardisation of quality and human resource development. The Group will continue to provide safety and reliability to customers through its automotive-related services, while promoting business expansion through service stations and the development of new business formats. As part of its contribution to the Group\u2019s sustainable growth, the power business will support the advancement of GX initiatives, while the steel and marine equipment trading business will contribute to production expansion through closer collaboration with Group companies. Under its medium-term policy of becoming \u201ca core company responsible for business creation within the TSUNEISHI Group\u201d, the division will continue to promote new business development and M&amp;A activities, further diversifying its business portfolio. Life &amp; Resorts Business FY2025 Overview In FY2025, the Life &amp; Resorts Business continued to enhance the value of its products and services. For gunt\u00fb, now in its eighth year of operation, this included the introduction of a new cabin category, \u201cTerrace Suite Prestige\u201d, as well as the development of a special Osaka cruise route launched in August 2025. These initiatives contributed to the acquisition of new customers and improved profitability. In addition, events across the Setouchi region attracted significant attention both domestically and internationally. These included the Hiroshima International Architecture Festival, which welcomed over 200,000 visitors, as well as the Setouchi Triennale and Okayama Art Summit. As a result, the multi-purpose complexes ONOMICHI U2 and LOG recorded strong growth. At Miroku no Sato, the expansion of the pool area helped alleviate congestion during the peak summer season and improved overall visitor comfort, contributing to increased attendance, particularly among families. In addition, the enhancement of seasonal events and experiential content created new reasons for visitation. School training programmes remained stable, supported by continued use from existing organisations. Meanwhile, sports events and training camps also performed steadily, underpinned by the development of flexible operational arrangements in response to extreme summer heat and other factors. However, overall revenue in the Life &amp; Resorts Business declined, primarily due to the temporary closure of Bella Vista Spa &amp; Marina Onomichi for redevelopment. FY2026 Outlook As part of efforts to strengthen the TSUNEISHI Group brand, three companies within the Life &amp; Resorts Business have adopted new corporate names incorporating \u201cTSUNEISHI\u201d. This initiative is intended to promote a shared identity and values across the Group, while enhancing overall cohesion. Looking ahead, the Group will further deepen its business across six key areas\u2014cruise operations, hotels, marinas, leisure facilities, training facilities, and food and beverage services\u2014by implementing initiatives aimed at enhancing customer value. On 20 March 2026, a new attraction, \u201cTeppen Mountain\u201d, was opened at Miroku no Sato and is being positioned as a new driver of visitor growth. In addition, preparations are underway for the opening of a new hotel. The Group will also strengthen its efforts to capture inbound tourism demand not only from the domestic market but also from Europe, North America, Australia and Southeast Asia. \u3010About TSUNEISHI Group\u3011 Founded in 1903 as a shipping company, TSUNEISHI Group operates across five core business domains: shipbuilding, shipping, trading &amp; energy, environmental services, and life &amp; resorts. Under the slogan \u201cCreating the future, today\u201d, the Group continues to create unique value by anticipating the needs of the future. In 2025, the Group also established a Social Contribution Promotion Department to further expand its support for local communities. For further information, please contact: Corporate Communications Department TSUNEISHI GROUP CORPORATION Email: pr@tsuneishi.com Head Office: 1083 Tsuneishi, Numakuma-cho, Fukuyama, Hiroshima 720-0393, Japan Website: https:\/\/www.tsuneishi-g.jp\/\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.tsuneishi-g.jp\/english\/news\/press\/2026\/04\/30589\/\" \/>\n\t\t<meta property=\"og:image\" content=\"https:\/\/www.tsuneishi-g.jp\/wp\/wp-content\/uploads\/2025\/04\/IMG_9440.png\" \/>\n\t\t<meta property=\"og:image:secure_url\" content=\"https:\/\/www.tsuneishi-g.jp\/wp\/wp-content\/uploads\/2025\/04\/IMG_9440.png\" \/>\n\t\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2026-04-13T03:00:33+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2026-06-04T01:59:43+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"TSUNEISHI Group Reports Consolidated Financial Results for FY2025 | Tsuneishi Group\" \/>\n\t\t<meta name=\"twitter:description\" content=\"TSUNEISHI Group Co., Ltd. announced its consolidated financial results for the fiscal year 2025 (1 January \u2013 31 December 2025). Consolidated revenue totalled JPY 348.0 billion (down 4.8% year-on-year), while ordinary profit reached JPY 32.5 billion (down 29.0% year-on-year). Segment Performance Revenue by segment was as follows: Shipping Business Revenue decreased by JPY 6.1 billion year-on-year to JPY 53.1 billion (down 10.0%), mainly due to weak charter markets in the first half, reduced charter income following the sale of car carriers, and a decline in resale transactions of newbuild vessels. Shipbuilding Business Revenue decreased by JPY 11.8 billion to JPY 263.0 billion (down 4.2%), reflecting fewer vessel deliveries due to extended construction periods for Alternative-Fuel Vessels. Environmental Business Revenue declined by JPY 8.2 billion to JPY 20.3 billion (down 28.7%), primarily due to the application of new revenue recognition standards in the non-ferrous metals business in Malaysia. Trading &amp; Energy Business Revenue decreased by JPY 6.2 billion to JPY 63.2 billion (down 9.0%), as steel prices stabilised. Life &amp; Resorts Business Revenue fell by JPY 1.1 billion to JPY 4.3 billion (down 20.3%), despite increased demand driven by expanded cruise routes for gunt\u00fb, due to the closure of Bella Vista Spa &amp; Marina Onomichi. TSUNEISHI Group Consolidated Revenue by Business Segment (FY2025) (after intercompany eliminations) TSUNEISHI Group Consolidated Revenue Trend (after intercompany eliminations) * Revenue figures in the main text are reported before intercompany eliminations. Overall Performance Despite a year-on-year decline following record-high results in FY2024, FY2025 marked the second-highest performance level since the introduction of consolidated accounting in 2007. Overall, the Group maintained a steady growth trajectory, demonstrating the continued resilience of its business portfolio. The Group also formulated its long-term vision, \u201cTSUNEISHI Group Michishirube 2035\u201d, setting out a growth strategy centred on achieving \u201cNiche Top and Area Top\u201d positions, alongside a cultural principle, \u201cTo be driven by people, committed to people,\u201d which emphasises placing people at the centre of decision-making and organisational development. By fostering an organisation in which each employee can act autonomously based on shared values, the Group aims to strengthen its resilience to change and accelerate transformation. Looking ahead, TSUNEISHI Group targets JPY 800.0 billion in business scale over the next decade, positioning itself as a driver of transformation. Financial Information \u30fbFiscal Year: January \u2013 December \u30fbConsolidated Entities: 40 companies (21 domestic, 19 overseas) Shipping Business FY2025 Overview The bulk carrier market remained at a low level from the beginning of the year. In addition, uncertainty in the market increased further due to the introduction of reciprocal tariffs by the United States, as well as port entry charges imposed on China-related vessels and non-US-built ships. As a result of these factors, revenue declined in the first half of the year, reflecting a combination of weak charter market conditions for bulk carriers, reduced charter income following the sale of car carriers, and a decrease in resale transactions of newbuild vessels. Despite this, revenue exceeded the budget. In the vessel chartering business, market conditions were supported by several factors, including restrictions on domestic coal production in China, a recovery in iron ore demand for China, and a more than 20% year-on-year increase in seaborne bauxite shipments, which involve long-distance transportation. In the second half of the year, the Group actively capitalised on the recovery in the bulk carrier market by securing charter contracts for open positions in 2025 and 2026, while also promoting the fixing of index-linked charter rates. In the container vessel chartering business, the Group recorded losses in line with the budget, as rising US dollar borrowing costs could not be fully absorbed by previously contracted charter rates. In contrast, product tankers maintained favourable market conditions, serving as a key driver of earnings improvement. For LPG carriers, a second newly built vessel was delivered in October 2025, and a time charter contract was concluded with a European energy company. In addition, the Japan\u2013China liner container service, which marked its 30th anniversary, maintained stable operations, supported by steady demand and optimisation of service schedules. In terms of fleet development, four vessels were added during the year: a methanol dual-fuel 66BC in May, a newly designed KAMSARMAX in July, a hydrogen-blended fuel tugboat in October, and an LPG carrier. FY2026 Outlook In 2025, the adoption of mid-term measures by the International Maritime Organization (IMO) aimed at reducing greenhouse gas (GHG) emissions was postponed due to strong opposition from the United States, which may affect the wider adoption of alternative fuel vessels. Against this backdrop, the Group will continue to enhance the environmental performance of its owned fleet. Specifically, it will promote decarbonisation by installing energy-saving devices and utilising biofuels compatible with existing engines, in cooperation with charterers. In March 2026, a newly built LNG dual-fuel bulk carrier was added to the fleet. Going forward, the Group will continue to diversify vessel types in order to mitigate exposure to market volatility. Furthermore, the delivery of two material transport vessels is scheduled for FY2026, with the aim of strengthening stable logistics to overseas shipyards operated by TSUNEISHI Shipbuilding. Shipbuilding Business FY2025 Overview In FY2025, the Group constructed 41 vessels, including dual-fuelled vessels (compared with 42 vessels in the previous year), maintaining a high level of production while ensuring stable business operations. On the order front, although the peak in newbuilding orders seen in previous years subsided and shipowners adopted a more cautious stance, the Group successfully captured steady demand, particularly from repeat customers. As a result, supported by a solid order backlog accumulated in prior years, it continues to secure a sufficient volume of work in hand. The continued depreciation of the Japanese yen contributed to increased revenue; however, through strategic foreign exchange management, the Group was also able to maximise profitability. In the newbuilding business, the Group further strengthened its development of dual-fuelled vessels. Leveraging expertise gained through the in-house production of LPG tanks, it has advanced the construction of vessels powered by LNG, methanol and hydrogen. In particular, for methanol-fuelled vessels, production was first established at the domestic headquarters yard and subsequently expanded to two overseas shipyards, where a continuous construction system has now been successfully implemented. In addition, the Group obtained Approval in Principle (AiP) from ClassNK for methanol-fuelled vessel designs applicable not only to newbuildings but also to existing vessels. This expands decarbonisation options and further enhances the Group\u2019s ability to meet diverse customer needs. The jointly developed \u201cBingo42\u201d with Onomichi Dockyard represents another key initiative, where both companies shared expertise and development philosophies to enhance the value of conventional vessel designs. This has resulted in improved fuel efficiency while reducing design and development workload. At the design base established in Timor-Leste in 2024, the Group continues to develop engineering talent and is gradually transitioning to detailed design work for actual vessels. Regarding the construction of a new shipyard, discussions with the government are ongoing; however, following the visit of President Jos\u00e9 Ramos-Horta last summer, cooperation from the local government has strengthened, accelerating progress on the project. Building on the expertise accumulated through its global expansion, the Group is steadily advancing plans to expand its shipbuilding capacity. In the ship repair business, the \u201crepair network\u201d established in collaboration with domestic Group companies has continued to deliver solid results. The Group will further strengthen inter-company collaboration to maximise both revenue and profitability. During the year, the Group also undertook a reorganisation of its capital structure and implemented corporate name changes, reinforcing the management foundation of the shipbuilding segment and promoting more integrated operations. This has further strengthened Group-wide collaboration across newbuilding, repair, and design and development functions, enhancing overall competitiveness. Furthermore, as a foundation supporting these initiatives, the Group continues to invest in talent acquisition and development, as well as improvements in employee benefits, creating a working environment in which each employee can fully realise their potential. FY2026 Outlook In FY2026, the Group will focus on strengthening its shipbuilding competitiveness through faster product development, enhanced production efficiency, and greater lifecycle value for customers. To respond to increasingly diverse market needs, the Group will pursue shorter design lead times and more advanced product development methodologies. At the same time, it will further advance factory automation and the utilisation of digital technologies to improve productivity and create more sophisticated production environments. Development of the seventh-generation KAMSARMAX is also progressing, with a focus on compliance with EEDI Phase 4 requirements and future upgrade readiness. These efforts will further enhance energy efficiency while reinforcing the competitiveness of the Group\u2019s core vessel portfolio. Beyond newbuilding, the Group will place greater emphasis on post-delivery operational support and maintenance services, creating additional value across the vessel lifecycle. Through these initiatives, it aims to strengthen long-term customer relationships, deliver greater value to customers, and support sustainable growth. Environmental Business FY2025 Overview Amid accelerating corporate efforts to reduce environmental impact, including decarbonisation and the transition to renewable energy, the Group expanded its material recycling operations within the Environmental Business. However, from this fiscal year, the application of new accounting standards (revenue recognition standards) to the non-ferrous metals business operated by Cycle Trend Industries Sdn. Bhd. resulted in a decline in reported revenue. Under the previous accounting standards, the business would have recorded an increase in revenue. In addition, at TSUNEISHI KAMTECS CORPORATION, reduced production caused by issues such as a malfunction in incineration facilities at the Fukuyama plant led to a decrease in profit for the year. FY2026 Outlook Leveraging its licences and capabilities across a wide range of waste treatment processes\u2014including incineration, melting, calcination, blending, fermentation and waste oil treatment\u2014the Group will work to establish a framework for delivering integrated environmental solutions that enable resource recycling across multiple regions through its network. In addition to improving recycling rates for both industrial and municipal waste, the Group will promote capital investment and technological development aimed at reducing CO\u2082 emissions and advancing decarbonisation. It will also respond swiftly to emerging challenges, including the handling of newly regulated substances. The Group will continue to ensure safe operations with zero accidents and full compliance, while accelerating ESG-driven management and contributing to all stakeholders. Trading &amp; Energy Business FY2025 Overview In FY2025, while demand in key markets remained generally resilient, the Group focused on price optimisation, improvements in procurement and logistics efficiency, and the levelling of operations across its businesses, thereby ensuring stable supply and enhancing quality. In the steel and marine equipment trading business, revenue declined due to lower sales volumes and reduced unit prices for steel products. However, supported by the strong performance of the shipbuilding business, supply of materials to Group companies expanded. In addition, increased sales of higher-margin products, such as piping materials and equipment, contributed to overall profitability. In the energy business, although fuel sales volumes decreased, higher margins resulted in performance remaining broadly in line with the previous year. In the mobility business, profitability continued to improve, driven by higher gross margins in vehicle inspections, as well as increased demand for construction machinery rental and maintenance services. In the power business, the Group commenced electricity supply to its own operations, contributing to the advancement of GX (Green Transformation) initiatives across the TSUNEISHI Group. As part of its growth investments, the new business development division has executed seven initiatives since the merger of three companies in 2024, including both M&amp;A transactions and the launch of new businesses. Notably, in FY2025, the Group strengthened its business foundation through the acquisition of Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., both based in Kanazawa, Ishikawa Prefecture, in collaboration with Yoshida, a Group company within the Environmental Business. FY2026 Outlook To realise its \u201cNiche Top and Area Top\u201d strategy, the Group will pursue both growth investments and the strengthening of its business foundation in parallel. In the mobility business, in addition to Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., which joined the Group in the previous year, Marusei Jidosha Co., Ltd. in Fukuyama is scheduled to join in FY2026. This will further strengthen the Group\u2019s commercial vehicle maintenance operations and accelerate the standardisation of quality and human resource development. The Group will continue to provide safety and reliability to customers through its automotive-related services, while promoting business expansion through service stations and the development of new business formats. As part of its contribution to the Group\u2019s sustainable growth, the power business will support the advancement of GX initiatives, while the steel and marine equipment trading business will contribute to production expansion through closer collaboration with Group companies. Under its medium-term policy of becoming \u201ca core company responsible for business creation within the TSUNEISHI Group\u201d, the division will continue to promote new business development and M&amp;A activities, further diversifying its business portfolio. Life &amp; Resorts Business FY2025 Overview In FY2025, the Life &amp; Resorts Business continued to enhance the value of its products and services. For gunt\u00fb, now in its eighth year of operation, this included the introduction of a new cabin category, \u201cTerrace Suite Prestige\u201d, as well as the development of a special Osaka cruise route launched in August 2025. These initiatives contributed to the acquisition of new customers and improved profitability. In addition, events across the Setouchi region attracted significant attention both domestically and internationally. These included the Hiroshima International Architecture Festival, which welcomed over 200,000 visitors, as well as the Setouchi Triennale and Okayama Art Summit. As a result, the multi-purpose complexes ONOMICHI U2 and LOG recorded strong growth. At Miroku no Sato, the expansion of the pool area helped alleviate congestion during the peak summer season and improved overall visitor comfort, contributing to increased attendance, particularly among families. In addition, the enhancement of seasonal events and experiential content created new reasons for visitation. School training programmes remained stable, supported by continued use from existing organisations. Meanwhile, sports events and training camps also performed steadily, underpinned by the development of flexible operational arrangements in response to extreme summer heat and other factors. However, overall revenue in the Life &amp; Resorts Business declined, primarily due to the temporary closure of Bella Vista Spa &amp; Marina Onomichi for redevelopment. FY2026 Outlook As part of efforts to strengthen the TSUNEISHI Group brand, three companies within the Life &amp; Resorts Business have adopted new corporate names incorporating \u201cTSUNEISHI\u201d. This initiative is intended to promote a shared identity and values across the Group, while enhancing overall cohesion. Looking ahead, the Group will further deepen its business across six key areas\u2014cruise operations, hotels, marinas, leisure facilities, training facilities, and food and beverage services\u2014by implementing initiatives aimed at enhancing customer value. On 20 March 2026, a new attraction, \u201cTeppen Mountain\u201d, was opened at Miroku no Sato and is being positioned as a new driver of visitor growth. In addition, preparations are underway for the opening of a new hotel. The Group will also strengthen its efforts to capture inbound tourism demand not only from the domestic market but also from Europe, North America, Australia and Southeast Asia. \u3010About TSUNEISHI Group\u3011 Founded in 1903 as a shipping company, TSUNEISHI Group operates across five core business domains: shipbuilding, shipping, trading &amp; energy, environmental services, and life &amp; resorts. Under the slogan \u201cCreating the future, today\u201d, the Group continues to create unique value by anticipating the needs of the future. In 2025, the Group also established a Social Contribution Promotion Department to further expand its support for local communities. For further information, please contact: Corporate Communications Department TSUNEISHI GROUP CORPORATION Email: pr@tsuneishi.com Head Office: 1083 Tsuneishi, Numakuma-cho, Fukuyama, Hiroshima 720-0393, Japan Website: https:\/\/www.tsuneishi-g.jp\/\" \/>\n\t\t<meta name=\"twitter:image\" content=\"https:\/\/www.tsuneishi-g.jp\/wp\/wp-content\/uploads\/2025\/04\/IMG_9440.png\" \/>\n\t\t<script type=\"application\/ld+json\" class=\"aioseo-schema\">\n\t\t\t{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/news\\\/press\\\/2026\\\/04\\\/30589\\\/#breadcrumblist\",\"itemListElement\":[{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/#listItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/news\\\/#listItem\",\"name\":\"\\u30cb\\u30e5\\u30fc\\u30b9\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/news\\\/#listItem\",\"position\":2,\"name\":\"\\u30cb\\u30e5\\u30fc\\u30b9\",\"item\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/news\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/industry\\\/tsuneishi-group\\\/#listItem\",\"name\":\"Tsuneishi Group\"},\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/#listItem\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/industry\\\/tsuneishi-group\\\/#listItem\",\"position\":3,\"name\":\"Tsuneishi Group\",\"item\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/industry\\\/tsuneishi-group\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/news\\\/press\\\/2026\\\/04\\\/30589\\\/#listItem\",\"name\":\"TSUNEISHI Group Reports Consolidated Financial Results for FY2025\"},\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/news\\\/#listItem\",\"name\":\"\\u30cb\\u30e5\\u30fc\\u30b9\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/news\\\/press\\\/2026\\\/04\\\/30589\\\/#listItem\",\"position\":4,\"name\":\"TSUNEISHI Group Reports Consolidated Financial Results for FY2025\",\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/industry\\\/tsuneishi-group\\\/#listItem\",\"name\":\"Tsuneishi Group\"}}]},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/#organization\",\"name\":\"Tsuneishi Group\",\"description\":\"This is the TSUNEISHI Group portal site. A corporate group headquartered in Hiroshima that develops shipbuilding, shipping, environment, energy, life & resort businesses.\",\"url\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/news\\\/press\\\/2026\\\/04\\\/30589\\\/#webpage\",\"url\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/news\\\/press\\\/2026\\\/04\\\/30589\\\/\",\"name\":\"TSUNEISHI Group Reports Consolidated Financial Results for FY2025 | Tsuneishi Group\",\"description\":\"TSUNEISHI Group Co., Ltd. announced its consolidated financial results for the fiscal year 2025 (1 January \\u2013 31 December 2025). Consolidated revenue totalled JPY 348.0 billion (down 4.8% year-on-year), while ordinary profit reached JPY 32.5 billion (down 29.0% year-on-year). Segment Performance Revenue by segment was as follows: Shipping Business Revenue decreased by JPY 6.1 billion year-on-year to JPY 53.1 billion (down 10.0%), mainly due to weak charter markets in the first half, reduced charter income following the sale of car carriers, and a decline in resale transactions of newbuild vessels. Shipbuilding Business Revenue decreased by JPY 11.8 billion to JPY 263.0 billion (down 4.2%), reflecting fewer vessel deliveries due to extended construction periods for Alternative-Fuel Vessels. Environmental Business Revenue declined by JPY 8.2 billion to JPY 20.3 billion (down 28.7%), primarily due to the application of new revenue recognition standards in the non-ferrous metals business in Malaysia. Trading & Energy Business Revenue decreased by JPY 6.2 billion to JPY 63.2 billion (down 9.0%), as steel prices stabilised. Life & Resorts Business Revenue fell by JPY 1.1 billion to JPY 4.3 billion (down 20.3%), despite increased demand driven by expanded cruise routes for gunt\\u00fb, due to the closure of Bella Vista Spa & Marina Onomichi. TSUNEISHI Group Consolidated Revenue by Business Segment (FY2025) (after intercompany eliminations) TSUNEISHI Group Consolidated Revenue Trend (after intercompany eliminations) * Revenue figures in the main text are reported before intercompany eliminations. Overall Performance Despite a year-on-year decline following record-high results in FY2024, FY2025 marked the second-highest performance level since the introduction of consolidated accounting in 2007. Overall, the Group maintained a steady growth trajectory, demonstrating the continued resilience of its business portfolio. The Group also formulated its long-term vision, \\u201cTSUNEISHI Group Michishirube 2035\\u201d, setting out a growth strategy centred on achieving \\u201cNiche Top and Area Top\\u201d positions, alongside a cultural principle, \\u201cTo be driven by people, committed to people,\\u201d which emphasises placing people at the centre of decision-making and organisational development. By fostering an organisation in which each employee can act autonomously based on shared values, the Group aims to strengthen its resilience to change and accelerate transformation. Looking ahead, TSUNEISHI Group targets JPY 800.0 billion in business scale over the next decade, positioning itself as a driver of transformation. Financial Information \\u30fbFiscal Year: January \\u2013 December \\u30fbConsolidated Entities: 40 companies (21 domestic, 19 overseas) Shipping Business FY2025 Overview The bulk carrier market remained at a low level from the beginning of the year. In addition, uncertainty in the market increased further due to the introduction of reciprocal tariffs by the United States, as well as port entry charges imposed on China-related vessels and non-US-built ships. As a result of these factors, revenue declined in the first half of the year, reflecting a combination of weak charter market conditions for bulk carriers, reduced charter income following the sale of car carriers, and a decrease in resale transactions of newbuild vessels. Despite this, revenue exceeded the budget. In the vessel chartering business, market conditions were supported by several factors, including restrictions on domestic coal production in China, a recovery in iron ore demand for China, and a more than 20% year-on-year increase in seaborne bauxite shipments, which involve long-distance transportation. In the second half of the year, the Group actively capitalised on the recovery in the bulk carrier market by securing charter contracts for open positions in 2025 and 2026, while also promoting the fixing of index-linked charter rates. In the container vessel chartering business, the Group recorded losses in line with the budget, as rising US dollar borrowing costs could not be fully absorbed by previously contracted charter rates. In contrast, product tankers maintained favourable market conditions, serving as a key driver of earnings improvement. For LPG carriers, a second newly built vessel was delivered in October 2025, and a time charter contract was concluded with a European energy company. In addition, the Japan\\u2013China liner container service, which marked its 30th anniversary, maintained stable operations, supported by steady demand and optimisation of service schedules. In terms of fleet development, four vessels were added during the year: a methanol dual-fuel 66BC in May, a newly designed KAMSARMAX in July, a hydrogen-blended fuel tugboat in October, and an LPG carrier. FY2026 Outlook In 2025, the adoption of mid-term measures by the International Maritime Organization (IMO) aimed at reducing greenhouse gas (GHG) emissions was postponed due to strong opposition from the United States, which may affect the wider adoption of alternative fuel vessels. Against this backdrop, the Group will continue to enhance the environmental performance of its owned fleet. Specifically, it will promote decarbonisation by installing energy-saving devices and utilising biofuels compatible with existing engines, in cooperation with charterers. In March 2026, a newly built LNG dual-fuel bulk carrier was added to the fleet. Going forward, the Group will continue to diversify vessel types in order to mitigate exposure to market volatility. Furthermore, the delivery of two material transport vessels is scheduled for FY2026, with the aim of strengthening stable logistics to overseas shipyards operated by TSUNEISHI Shipbuilding. Shipbuilding Business FY2025 Overview In FY2025, the Group constructed 41 vessels, including dual-fuelled vessels (compared with 42 vessels in the previous year), maintaining a high level of production while ensuring stable business operations. On the order front, although the peak in newbuilding orders seen in previous years subsided and shipowners adopted a more cautious stance, the Group successfully captured steady demand, particularly from repeat customers. As a result, supported by a solid order backlog accumulated in prior years, it continues to secure a sufficient volume of work in hand. The continued depreciation of the Japanese yen contributed to increased revenue; however, through strategic foreign exchange management, the Group was also able to maximise profitability. In the newbuilding business, the Group further strengthened its development of dual-fuelled vessels. Leveraging expertise gained through the in-house production of LPG tanks, it has advanced the construction of vessels powered by LNG, methanol and hydrogen. In particular, for methanol-fuelled vessels, production was first established at the domestic headquarters yard and subsequently expanded to two overseas shipyards, where a continuous construction system has now been successfully implemented. In addition, the Group obtained Approval in Principle (AiP) from ClassNK for methanol-fuelled vessel designs applicable not only to newbuildings but also to existing vessels. This expands decarbonisation options and further enhances the Group\\u2019s ability to meet diverse customer needs. The jointly developed \\u201cBingo42\\u201d with Onomichi Dockyard represents another key initiative, where both companies shared expertise and development philosophies to enhance the value of conventional vessel designs. This has resulted in improved fuel efficiency while reducing design and development workload. At the design base established in Timor-Leste in 2024, the Group continues to develop engineering talent and is gradually transitioning to detailed design work for actual vessels. Regarding the construction of a new shipyard, discussions with the government are ongoing; however, following the visit of President Jos\\u00e9 Ramos-Horta last summer, cooperation from the local government has strengthened, accelerating progress on the project. Building on the expertise accumulated through its global expansion, the Group is steadily advancing plans to expand its shipbuilding capacity. In the ship repair business, the \\u201crepair network\\u201d established in collaboration with domestic Group companies has continued to deliver solid results. The Group will further strengthen inter-company collaboration to maximise both revenue and profitability. During the year, the Group also undertook a reorganisation of its capital structure and implemented corporate name changes, reinforcing the management foundation of the shipbuilding segment and promoting more integrated operations. This has further strengthened Group-wide collaboration across newbuilding, repair, and design and development functions, enhancing overall competitiveness. Furthermore, as a foundation supporting these initiatives, the Group continues to invest in talent acquisition and development, as well as improvements in employee benefits, creating a working environment in which each employee can fully realise their potential. FY2026 Outlook In FY2026, the Group will focus on strengthening its shipbuilding competitiveness through faster product development, enhanced production efficiency, and greater lifecycle value for customers. To respond to increasingly diverse market needs, the Group will pursue shorter design lead times and more advanced product development methodologies. At the same time, it will further advance factory automation and the utilisation of digital technologies to improve productivity and create more sophisticated production environments. Development of the seventh-generation KAMSARMAX is also progressing, with a focus on compliance with EEDI Phase 4 requirements and future upgrade readiness. These efforts will further enhance energy efficiency while reinforcing the competitiveness of the Group\\u2019s core vessel portfolio. Beyond newbuilding, the Group will place greater emphasis on post-delivery operational support and maintenance services, creating additional value across the vessel lifecycle. Through these initiatives, it aims to strengthen long-term customer relationships, deliver greater value to customers, and support sustainable growth. Environmental Business FY2025 Overview Amid accelerating corporate efforts to reduce environmental impact, including decarbonisation and the transition to renewable energy, the Group expanded its material recycling operations within the Environmental Business. However, from this fiscal year, the application of new accounting standards (revenue recognition standards) to the non-ferrous metals business operated by Cycle Trend Industries Sdn. Bhd. resulted in a decline in reported revenue. Under the previous accounting standards, the business would have recorded an increase in revenue. In addition, at TSUNEISHI KAMTECS CORPORATION, reduced production caused by issues such as a malfunction in incineration facilities at the Fukuyama plant led to a decrease in profit for the year. FY2026 Outlook Leveraging its licences and capabilities across a wide range of waste treatment processes\\u2014including incineration, melting, calcination, blending, fermentation and waste oil treatment\\u2014the Group will work to establish a framework for delivering integrated environmental solutions that enable resource recycling across multiple regions through its network. In addition to improving recycling rates for both industrial and municipal waste, the Group will promote capital investment and technological development aimed at reducing CO\\u2082 emissions and advancing decarbonisation. It will also respond swiftly to emerging challenges, including the handling of newly regulated substances. The Group will continue to ensure safe operations with zero accidents and full compliance, while accelerating ESG-driven management and contributing to all stakeholders. Trading & Energy Business FY2025 Overview In FY2025, while demand in key markets remained generally resilient, the Group focused on price optimisation, improvements in procurement and logistics efficiency, and the levelling of operations across its businesses, thereby ensuring stable supply and enhancing quality. In the steel and marine equipment trading business, revenue declined due to lower sales volumes and reduced unit prices for steel products. However, supported by the strong performance of the shipbuilding business, supply of materials to Group companies expanded. In addition, increased sales of higher-margin products, such as piping materials and equipment, contributed to overall profitability. In the energy business, although fuel sales volumes decreased, higher margins resulted in performance remaining broadly in line with the previous year. In the mobility business, profitability continued to improve, driven by higher gross margins in vehicle inspections, as well as increased demand for construction machinery rental and maintenance services. In the power business, the Group commenced electricity supply to its own operations, contributing to the advancement of GX (Green Transformation) initiatives across the TSUNEISHI Group. As part of its growth investments, the new business development division has executed seven initiatives since the merger of three companies in 2024, including both M&A transactions and the launch of new businesses. Notably, in FY2025, the Group strengthened its business foundation through the acquisition of Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., both based in Kanazawa, Ishikawa Prefecture, in collaboration with Yoshida, a Group company within the Environmental Business. FY2026 Outlook To realise its \\u201cNiche Top and Area Top\\u201d strategy, the Group will pursue both growth investments and the strengthening of its business foundation in parallel. In the mobility business, in addition to Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., which joined the Group in the previous year, Marusei Jidosha Co., Ltd. in Fukuyama is scheduled to join in FY2026. This will further strengthen the Group\\u2019s commercial vehicle maintenance operations and accelerate the standardisation of quality and human resource development. The Group will continue to provide safety and reliability to customers through its automotive-related services, while promoting business expansion through service stations and the development of new business formats. As part of its contribution to the Group\\u2019s sustainable growth, the power business will support the advancement of GX initiatives, while the steel and marine equipment trading business will contribute to production expansion through closer collaboration with Group companies. Under its medium-term policy of becoming \\u201ca core company responsible for business creation within the TSUNEISHI Group\\u201d, the division will continue to promote new business development and M&A activities, further diversifying its business portfolio. Life & Resorts Business FY2025 Overview In FY2025, the Life & Resorts Business continued to enhance the value of its products and services. For gunt\\u00fb, now in its eighth year of operation, this included the introduction of a new cabin category, \\u201cTerrace Suite Prestige\\u201d, as well as the development of a special Osaka cruise route launched in August 2025. These initiatives contributed to the acquisition of new customers and improved profitability. In addition, events across the Setouchi region attracted significant attention both domestically and internationally. These included the Hiroshima International Architecture Festival, which welcomed over 200,000 visitors, as well as the Setouchi Triennale and Okayama Art Summit. As a result, the multi-purpose complexes ONOMICHI U2 and LOG recorded strong growth. At Miroku no Sato, the expansion of the pool area helped alleviate congestion during the peak summer season and improved overall visitor comfort, contributing to increased attendance, particularly among families. In addition, the enhancement of seasonal events and experiential content created new reasons for visitation. School training programmes remained stable, supported by continued use from existing organisations. Meanwhile, sports events and training camps also performed steadily, underpinned by the development of flexible operational arrangements in response to extreme summer heat and other factors. However, overall revenue in the Life & Resorts Business declined, primarily due to the temporary closure of Bella Vista Spa & Marina Onomichi for redevelopment. FY2026 Outlook As part of efforts to strengthen the TSUNEISHI Group brand, three companies within the Life & Resorts Business have adopted new corporate names incorporating \\u201cTSUNEISHI\\u201d. This initiative is intended to promote a shared identity and values across the Group, while enhancing overall cohesion. Looking ahead, the Group will further deepen its business across six key areas\\u2014cruise operations, hotels, marinas, leisure facilities, training facilities, and food and beverage services\\u2014by implementing initiatives aimed at enhancing customer value. On 20 March 2026, a new attraction, \\u201cTeppen Mountain\\u201d, was opened at Miroku no Sato and is being positioned as a new driver of visitor growth. In addition, preparations are underway for the opening of a new hotel. The Group will also strengthen its efforts to capture inbound tourism demand not only from the domestic market but also from Europe, North America, Australia and Southeast Asia. \\u3010About TSUNEISHI Group\\u3011 Founded in 1903 as a shipping company, TSUNEISHI Group operates across five core business domains: shipbuilding, shipping, trading & energy, environmental services, and life & resorts. Under the slogan \\u201cCreating the future, today\\u201d, the Group continues to create unique value by anticipating the needs of the future. In 2025, the Group also established a Social Contribution Promotion Department to further expand its support for local communities. For further information, please contact: Corporate Communications Department TSUNEISHI GROUP CORPORATION Email: pr@tsuneishi.com Head Office: 1083 Tsuneishi, Numakuma-cho, Fukuyama, Hiroshima 720-0393, Japan Website: https:\\\/\\\/www.tsuneishi-g.jp\\\/\",\"inLanguage\":\"en-US\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/#website\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/news\\\/press\\\/2026\\\/04\\\/30589\\\/#breadcrumblist\"},\"datePublished\":\"2026-04-13T12:00:33+09:00\",\"dateModified\":\"2026-06-04T10:59:43+09:00\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/#website\",\"url\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/\",\"name\":\"Tsuneishi Group\",\"description\":\"This is the TSUNEISHI Group portal site. A corporate group headquartered in Hiroshima that develops shipbuilding, shipping, environment, energy, life & resort businesses.\",\"inLanguage\":\"en-US\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.tsuneishi-g.jp\\\/english\\\/#organization\"}}]}\n\t\t<\/script>\n\t\t<!-- All in One SEO -->\n\n","aioseo_head_json":{"title":"TSUNEISHI Group Reports Consolidated Financial Results for FY2025 | Tsuneishi Group","description":"TSUNEISHI Group Co., Ltd. announced its consolidated financial results for the fiscal year 2025 (1 January \u2013 31 December 2025). Consolidated revenue totalled JPY 348.0 billion (down 4.8% year-on-year), while ordinary profit reached JPY 32.5 billion (down 29.0% year-on-year). Segment Performance Revenue by segment was as follows: Shipping Business Revenue decreased by JPY 6.1 billion year-on-year to JPY 53.1 billion (down 10.0%), mainly due to weak charter markets in the first half, reduced charter income following the sale of car carriers, and a decline in resale transactions of newbuild vessels. Shipbuilding Business Revenue decreased by JPY 11.8 billion to JPY 263.0 billion (down 4.2%), reflecting fewer vessel deliveries due to extended construction periods for Alternative-Fuel Vessels. Environmental Business Revenue declined by JPY 8.2 billion to JPY 20.3 billion (down 28.7%), primarily due to the application of new revenue recognition standards in the non-ferrous metals business in Malaysia. Trading & Energy Business Revenue decreased by JPY 6.2 billion to JPY 63.2 billion (down 9.0%), as steel prices stabilised. Life & Resorts Business Revenue fell by JPY 1.1 billion to JPY 4.3 billion (down 20.3%), despite increased demand driven by expanded cruise routes for gunt\u00fb, due to the closure of Bella Vista Spa & Marina Onomichi. TSUNEISHI Group Consolidated Revenue by Business Segment (FY2025) (after intercompany eliminations) TSUNEISHI Group Consolidated Revenue Trend (after intercompany eliminations) * Revenue figures in the main text are reported before intercompany eliminations. Overall Performance Despite a year-on-year decline following record-high results in FY2024, FY2025 marked the second-highest performance level since the introduction of consolidated accounting in 2007. Overall, the Group maintained a steady growth trajectory, demonstrating the continued resilience of its business portfolio. The Group also formulated its long-term vision, \u201cTSUNEISHI Group Michishirube 2035\u201d, setting out a growth strategy centred on achieving \u201cNiche Top and Area Top\u201d positions, alongside a cultural principle, \u201cTo be driven by people, committed to people,\u201d which emphasises placing people at the centre of decision-making and organisational development. By fostering an organisation in which each employee can act autonomously based on shared values, the Group aims to strengthen its resilience to change and accelerate transformation. Looking ahead, TSUNEISHI Group targets JPY 800.0 billion in business scale over the next decade, positioning itself as a driver of transformation. Financial Information \u30fbFiscal Year: January \u2013 December \u30fbConsolidated Entities: 40 companies (21 domestic, 19 overseas) Shipping Business FY2025 Overview The bulk carrier market remained at a low level from the beginning of the year. In addition, uncertainty in the market increased further due to the introduction of reciprocal tariffs by the United States, as well as port entry charges imposed on China-related vessels and non-US-built ships. As a result of these factors, revenue declined in the first half of the year, reflecting a combination of weak charter market conditions for bulk carriers, reduced charter income following the sale of car carriers, and a decrease in resale transactions of newbuild vessels. Despite this, revenue exceeded the budget. In the vessel chartering business, market conditions were supported by several factors, including restrictions on domestic coal production in China, a recovery in iron ore demand for China, and a more than 20% year-on-year increase in seaborne bauxite shipments, which involve long-distance transportation. In the second half of the year, the Group actively capitalised on the recovery in the bulk carrier market by securing charter contracts for open positions in 2025 and 2026, while also promoting the fixing of index-linked charter rates. In the container vessel chartering business, the Group recorded losses in line with the budget, as rising US dollar borrowing costs could not be fully absorbed by previously contracted charter rates. In contrast, product tankers maintained favourable market conditions, serving as a key driver of earnings improvement. For LPG carriers, a second newly built vessel was delivered in October 2025, and a time charter contract was concluded with a European energy company. In addition, the Japan\u2013China liner container service, which marked its 30th anniversary, maintained stable operations, supported by steady demand and optimisation of service schedules. In terms of fleet development, four vessels were added during the year: a methanol dual-fuel 66BC in May, a newly designed KAMSARMAX in July, a hydrogen-blended fuel tugboat in October, and an LPG carrier. FY2026 Outlook In 2025, the adoption of mid-term measures by the International Maritime Organization (IMO) aimed at reducing greenhouse gas (GHG) emissions was postponed due to strong opposition from the United States, which may affect the wider adoption of alternative fuel vessels. Against this backdrop, the Group will continue to enhance the environmental performance of its owned fleet. Specifically, it will promote decarbonisation by installing energy-saving devices and utilising biofuels compatible with existing engines, in cooperation with charterers. In March 2026, a newly built LNG dual-fuel bulk carrier was added to the fleet. Going forward, the Group will continue to diversify vessel types in order to mitigate exposure to market volatility. Furthermore, the delivery of two material transport vessels is scheduled for FY2026, with the aim of strengthening stable logistics to overseas shipyards operated by TSUNEISHI Shipbuilding. Shipbuilding Business FY2025 Overview In FY2025, the Group constructed 41 vessels, including dual-fuelled vessels (compared with 42 vessels in the previous year), maintaining a high level of production while ensuring stable business operations. On the order front, although the peak in newbuilding orders seen in previous years subsided and shipowners adopted a more cautious stance, the Group successfully captured steady demand, particularly from repeat customers. As a result, supported by a solid order backlog accumulated in prior years, it continues to secure a sufficient volume of work in hand. The continued depreciation of the Japanese yen contributed to increased revenue; however, through strategic foreign exchange management, the Group was also able to maximise profitability. In the newbuilding business, the Group further strengthened its development of dual-fuelled vessels. Leveraging expertise gained through the in-house production of LPG tanks, it has advanced the construction of vessels powered by LNG, methanol and hydrogen. In particular, for methanol-fuelled vessels, production was first established at the domestic headquarters yard and subsequently expanded to two overseas shipyards, where a continuous construction system has now been successfully implemented. In addition, the Group obtained Approval in Principle (AiP) from ClassNK for methanol-fuelled vessel designs applicable not only to newbuildings but also to existing vessels. This expands decarbonisation options and further enhances the Group\u2019s ability to meet diverse customer needs. The jointly developed \u201cBingo42\u201d with Onomichi Dockyard represents another key initiative, where both companies shared expertise and development philosophies to enhance the value of conventional vessel designs. This has resulted in improved fuel efficiency while reducing design and development workload. At the design base established in Timor-Leste in 2024, the Group continues to develop engineering talent and is gradually transitioning to detailed design work for actual vessels. Regarding the construction of a new shipyard, discussions with the government are ongoing; however, following the visit of President Jos\u00e9 Ramos-Horta last summer, cooperation from the local government has strengthened, accelerating progress on the project. Building on the expertise accumulated through its global expansion, the Group is steadily advancing plans to expand its shipbuilding capacity. In the ship repair business, the \u201crepair network\u201d established in collaboration with domestic Group companies has continued to deliver solid results. The Group will further strengthen inter-company collaboration to maximise both revenue and profitability. During the year, the Group also undertook a reorganisation of its capital structure and implemented corporate name changes, reinforcing the management foundation of the shipbuilding segment and promoting more integrated operations. This has further strengthened Group-wide collaboration across newbuilding, repair, and design and development functions, enhancing overall competitiveness. Furthermore, as a foundation supporting these initiatives, the Group continues to invest in talent acquisition and development, as well as improvements in employee benefits, creating a working environment in which each employee can fully realise their potential. FY2026 Outlook In FY2026, the Group will focus on strengthening its shipbuilding competitiveness through faster product development, enhanced production efficiency, and greater lifecycle value for customers. To respond to increasingly diverse market needs, the Group will pursue shorter design lead times and more advanced product development methodologies. At the same time, it will further advance factory automation and the utilisation of digital technologies to improve productivity and create more sophisticated production environments. Development of the seventh-generation KAMSARMAX is also progressing, with a focus on compliance with EEDI Phase 4 requirements and future upgrade readiness. These efforts will further enhance energy efficiency while reinforcing the competitiveness of the Group\u2019s core vessel portfolio. Beyond newbuilding, the Group will place greater emphasis on post-delivery operational support and maintenance services, creating additional value across the vessel lifecycle. Through these initiatives, it aims to strengthen long-term customer relationships, deliver greater value to customers, and support sustainable growth. Environmental Business FY2025 Overview Amid accelerating corporate efforts to reduce environmental impact, including decarbonisation and the transition to renewable energy, the Group expanded its material recycling operations within the Environmental Business. However, from this fiscal year, the application of new accounting standards (revenue recognition standards) to the non-ferrous metals business operated by Cycle Trend Industries Sdn. Bhd. resulted in a decline in reported revenue. Under the previous accounting standards, the business would have recorded an increase in revenue. In addition, at TSUNEISHI KAMTECS CORPORATION, reduced production caused by issues such as a malfunction in incineration facilities at the Fukuyama plant led to a decrease in profit for the year. FY2026 Outlook Leveraging its licences and capabilities across a wide range of waste treatment processes\u2014including incineration, melting, calcination, blending, fermentation and waste oil treatment\u2014the Group will work to establish a framework for delivering integrated environmental solutions that enable resource recycling across multiple regions through its network. In addition to improving recycling rates for both industrial and municipal waste, the Group will promote capital investment and technological development aimed at reducing CO\u2082 emissions and advancing decarbonisation. It will also respond swiftly to emerging challenges, including the handling of newly regulated substances. The Group will continue to ensure safe operations with zero accidents and full compliance, while accelerating ESG-driven management and contributing to all stakeholders. Trading & Energy Business FY2025 Overview In FY2025, while demand in key markets remained generally resilient, the Group focused on price optimisation, improvements in procurement and logistics efficiency, and the levelling of operations across its businesses, thereby ensuring stable supply and enhancing quality. In the steel and marine equipment trading business, revenue declined due to lower sales volumes and reduced unit prices for steel products. However, supported by the strong performance of the shipbuilding business, supply of materials to Group companies expanded. In addition, increased sales of higher-margin products, such as piping materials and equipment, contributed to overall profitability. In the energy business, although fuel sales volumes decreased, higher margins resulted in performance remaining broadly in line with the previous year. In the mobility business, profitability continued to improve, driven by higher gross margins in vehicle inspections, as well as increased demand for construction machinery rental and maintenance services. In the power business, the Group commenced electricity supply to its own operations, contributing to the advancement of GX (Green Transformation) initiatives across the TSUNEISHI Group. As part of its growth investments, the new business development division has executed seven initiatives since the merger of three companies in 2024, including both M&A transactions and the launch of new businesses. Notably, in FY2025, the Group strengthened its business foundation through the acquisition of Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., both based in Kanazawa, Ishikawa Prefecture, in collaboration with Yoshida, a Group company within the Environmental Business. FY2026 Outlook To realise its \u201cNiche Top and Area Top\u201d strategy, the Group will pursue both growth investments and the strengthening of its business foundation in parallel. In the mobility business, in addition to Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., which joined the Group in the previous year, Marusei Jidosha Co., Ltd. in Fukuyama is scheduled to join in FY2026. This will further strengthen the Group\u2019s commercial vehicle maintenance operations and accelerate the standardisation of quality and human resource development. The Group will continue to provide safety and reliability to customers through its automotive-related services, while promoting business expansion through service stations and the development of new business formats. As part of its contribution to the Group\u2019s sustainable growth, the power business will support the advancement of GX initiatives, while the steel and marine equipment trading business will contribute to production expansion through closer collaboration with Group companies. Under its medium-term policy of becoming \u201ca core company responsible for business creation within the TSUNEISHI Group\u201d, the division will continue to promote new business development and M&A activities, further diversifying its business portfolio. Life & Resorts Business FY2025 Overview In FY2025, the Life & Resorts Business continued to enhance the value of its products and services. For gunt\u00fb, now in its eighth year of operation, this included the introduction of a new cabin category, \u201cTerrace Suite Prestige\u201d, as well as the development of a special Osaka cruise route launched in August 2025. These initiatives contributed to the acquisition of new customers and improved profitability. In addition, events across the Setouchi region attracted significant attention both domestically and internationally. These included the Hiroshima International Architecture Festival, which welcomed over 200,000 visitors, as well as the Setouchi Triennale and Okayama Art Summit. As a result, the multi-purpose complexes ONOMICHI U2 and LOG recorded strong growth. At Miroku no Sato, the expansion of the pool area helped alleviate congestion during the peak summer season and improved overall visitor comfort, contributing to increased attendance, particularly among families. In addition, the enhancement of seasonal events and experiential content created new reasons for visitation. School training programmes remained stable, supported by continued use from existing organisations. Meanwhile, sports events and training camps also performed steadily, underpinned by the development of flexible operational arrangements in response to extreme summer heat and other factors. However, overall revenue in the Life & Resorts Business declined, primarily due to the temporary closure of Bella Vista Spa & Marina Onomichi for redevelopment. FY2026 Outlook As part of efforts to strengthen the TSUNEISHI Group brand, three companies within the Life & Resorts Business have adopted new corporate names incorporating \u201cTSUNEISHI\u201d. This initiative is intended to promote a shared identity and values across the Group, while enhancing overall cohesion. Looking ahead, the Group will further deepen its business across six key areas\u2014cruise operations, hotels, marinas, leisure facilities, training facilities, and food and beverage services\u2014by implementing initiatives aimed at enhancing customer value. On 20 March 2026, a new attraction, \u201cTeppen Mountain\u201d, was opened at Miroku no Sato and is being positioned as a new driver of visitor growth. In addition, preparations are underway for the opening of a new hotel. The Group will also strengthen its efforts to capture inbound tourism demand not only from the domestic market but also from Europe, North America, Australia and Southeast Asia. \u3010About TSUNEISHI Group\u3011 Founded in 1903 as a shipping company, TSUNEISHI Group operates across five core business domains: shipbuilding, shipping, trading & energy, environmental services, and life & resorts. Under the slogan \u201cCreating the future, today\u201d, the Group continues to create unique value by anticipating the needs of the future. In 2025, the Group also established a Social Contribution Promotion Department to further expand its support for local communities. For further information, please contact: Corporate Communications Department TSUNEISHI GROUP CORPORATION Email: pr@tsuneishi.com Head Office: 1083 Tsuneishi, Numakuma-cho, Fukuyama, Hiroshima 720-0393, Japan Website: https:\/\/www.tsuneishi-g.jp\/","canonical_url":"https:\/\/www.tsuneishi-g.jp\/english\/news\/press\/2026\/04\/30589\/","robots":"max-image-preview:large","keywords":"","webmasterTools":{"msvalidate.01":"C4AC19CFEA3F8366613E96D21044E7BB","miscellaneous":""},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/www.tsuneishi-g.jp\/english\/news\/press\/2026\/04\/30589\/#breadcrumblist","itemListElement":[{"@type":"ListItem","@id":"https:\/\/www.tsuneishi-g.jp\/english\/#listItem","position":1,"name":"Home","item":"https:\/\/www.tsuneishi-g.jp\/english\/","nextItem":{"@type":"ListItem","@id":"https:\/\/www.tsuneishi-g.jp\/english\/news\/#listItem","name":"\u30cb\u30e5\u30fc\u30b9"}},{"@type":"ListItem","@id":"https:\/\/www.tsuneishi-g.jp\/english\/news\/#listItem","position":2,"name":"\u30cb\u30e5\u30fc\u30b9","item":"https:\/\/www.tsuneishi-g.jp\/english\/news\/","nextItem":{"@type":"ListItem","@id":"https:\/\/www.tsuneishi-g.jp\/english\/industry\/tsuneishi-group\/#listItem","name":"Tsuneishi Group"},"previousItem":{"@type":"ListItem","@id":"https:\/\/www.tsuneishi-g.jp\/english\/#listItem","name":"Home"}},{"@type":"ListItem","@id":"https:\/\/www.tsuneishi-g.jp\/english\/industry\/tsuneishi-group\/#listItem","position":3,"name":"Tsuneishi Group","item":"https:\/\/www.tsuneishi-g.jp\/english\/industry\/tsuneishi-group\/","nextItem":{"@type":"ListItem","@id":"https:\/\/www.tsuneishi-g.jp\/english\/news\/press\/2026\/04\/30589\/#listItem","name":"TSUNEISHI Group Reports Consolidated Financial Results for FY2025"},"previousItem":{"@type":"ListItem","@id":"https:\/\/www.tsuneishi-g.jp\/english\/news\/#listItem","name":"\u30cb\u30e5\u30fc\u30b9"}},{"@type":"ListItem","@id":"https:\/\/www.tsuneishi-g.jp\/english\/news\/press\/2026\/04\/30589\/#listItem","position":4,"name":"TSUNEISHI Group Reports Consolidated Financial Results for FY2025","previousItem":{"@type":"ListItem","@id":"https:\/\/www.tsuneishi-g.jp\/english\/industry\/tsuneishi-group\/#listItem","name":"Tsuneishi Group"}}]},{"@type":"Organization","@id":"https:\/\/www.tsuneishi-g.jp\/english\/#organization","name":"Tsuneishi Group","description":"This is the TSUNEISHI Group portal site. A corporate group headquartered in Hiroshima that develops shipbuilding, shipping, environment, energy, life & resort businesses.","url":"https:\/\/www.tsuneishi-g.jp\/english\/"},{"@type":"WebPage","@id":"https:\/\/www.tsuneishi-g.jp\/english\/news\/press\/2026\/04\/30589\/#webpage","url":"https:\/\/www.tsuneishi-g.jp\/english\/news\/press\/2026\/04\/30589\/","name":"TSUNEISHI Group Reports Consolidated Financial Results for FY2025 | Tsuneishi Group","description":"TSUNEISHI Group Co., Ltd. announced its consolidated financial results for the fiscal year 2025 (1 January \u2013 31 December 2025). Consolidated revenue totalled JPY 348.0 billion (down 4.8% year-on-year), while ordinary profit reached JPY 32.5 billion (down 29.0% year-on-year). Segment Performance Revenue by segment was as follows: Shipping Business Revenue decreased by JPY 6.1 billion year-on-year to JPY 53.1 billion (down 10.0%), mainly due to weak charter markets in the first half, reduced charter income following the sale of car carriers, and a decline in resale transactions of newbuild vessels. Shipbuilding Business Revenue decreased by JPY 11.8 billion to JPY 263.0 billion (down 4.2%), reflecting fewer vessel deliveries due to extended construction periods for Alternative-Fuel Vessels. Environmental Business Revenue declined by JPY 8.2 billion to JPY 20.3 billion (down 28.7%), primarily due to the application of new revenue recognition standards in the non-ferrous metals business in Malaysia. Trading & Energy Business Revenue decreased by JPY 6.2 billion to JPY 63.2 billion (down 9.0%), as steel prices stabilised. Life & Resorts Business Revenue fell by JPY 1.1 billion to JPY 4.3 billion (down 20.3%), despite increased demand driven by expanded cruise routes for gunt\u00fb, due to the closure of Bella Vista Spa & Marina Onomichi. TSUNEISHI Group Consolidated Revenue by Business Segment (FY2025) (after intercompany eliminations) TSUNEISHI Group Consolidated Revenue Trend (after intercompany eliminations) * Revenue figures in the main text are reported before intercompany eliminations. Overall Performance Despite a year-on-year decline following record-high results in FY2024, FY2025 marked the second-highest performance level since the introduction of consolidated accounting in 2007. Overall, the Group maintained a steady growth trajectory, demonstrating the continued resilience of its business portfolio. The Group also formulated its long-term vision, \u201cTSUNEISHI Group Michishirube 2035\u201d, setting out a growth strategy centred on achieving \u201cNiche Top and Area Top\u201d positions, alongside a cultural principle, \u201cTo be driven by people, committed to people,\u201d which emphasises placing people at the centre of decision-making and organisational development. By fostering an organisation in which each employee can act autonomously based on shared values, the Group aims to strengthen its resilience to change and accelerate transformation. Looking ahead, TSUNEISHI Group targets JPY 800.0 billion in business scale over the next decade, positioning itself as a driver of transformation. Financial Information \u30fbFiscal Year: January \u2013 December \u30fbConsolidated Entities: 40 companies (21 domestic, 19 overseas) Shipping Business FY2025 Overview The bulk carrier market remained at a low level from the beginning of the year. In addition, uncertainty in the market increased further due to the introduction of reciprocal tariffs by the United States, as well as port entry charges imposed on China-related vessels and non-US-built ships. As a result of these factors, revenue declined in the first half of the year, reflecting a combination of weak charter market conditions for bulk carriers, reduced charter income following the sale of car carriers, and a decrease in resale transactions of newbuild vessels. Despite this, revenue exceeded the budget. In the vessel chartering business, market conditions were supported by several factors, including restrictions on domestic coal production in China, a recovery in iron ore demand for China, and a more than 20% year-on-year increase in seaborne bauxite shipments, which involve long-distance transportation. In the second half of the year, the Group actively capitalised on the recovery in the bulk carrier market by securing charter contracts for open positions in 2025 and 2026, while also promoting the fixing of index-linked charter rates. In the container vessel chartering business, the Group recorded losses in line with the budget, as rising US dollar borrowing costs could not be fully absorbed by previously contracted charter rates. In contrast, product tankers maintained favourable market conditions, serving as a key driver of earnings improvement. For LPG carriers, a second newly built vessel was delivered in October 2025, and a time charter contract was concluded with a European energy company. In addition, the Japan\u2013China liner container service, which marked its 30th anniversary, maintained stable operations, supported by steady demand and optimisation of service schedules. In terms of fleet development, four vessels were added during the year: a methanol dual-fuel 66BC in May, a newly designed KAMSARMAX in July, a hydrogen-blended fuel tugboat in October, and an LPG carrier. FY2026 Outlook In 2025, the adoption of mid-term measures by the International Maritime Organization (IMO) aimed at reducing greenhouse gas (GHG) emissions was postponed due to strong opposition from the United States, which may affect the wider adoption of alternative fuel vessels. Against this backdrop, the Group will continue to enhance the environmental performance of its owned fleet. Specifically, it will promote decarbonisation by installing energy-saving devices and utilising biofuels compatible with existing engines, in cooperation with charterers. In March 2026, a newly built LNG dual-fuel bulk carrier was added to the fleet. Going forward, the Group will continue to diversify vessel types in order to mitigate exposure to market volatility. Furthermore, the delivery of two material transport vessels is scheduled for FY2026, with the aim of strengthening stable logistics to overseas shipyards operated by TSUNEISHI Shipbuilding. Shipbuilding Business FY2025 Overview In FY2025, the Group constructed 41 vessels, including dual-fuelled vessels (compared with 42 vessels in the previous year), maintaining a high level of production while ensuring stable business operations. On the order front, although the peak in newbuilding orders seen in previous years subsided and shipowners adopted a more cautious stance, the Group successfully captured steady demand, particularly from repeat customers. As a result, supported by a solid order backlog accumulated in prior years, it continues to secure a sufficient volume of work in hand. The continued depreciation of the Japanese yen contributed to increased revenue; however, through strategic foreign exchange management, the Group was also able to maximise profitability. In the newbuilding business, the Group further strengthened its development of dual-fuelled vessels. Leveraging expertise gained through the in-house production of LPG tanks, it has advanced the construction of vessels powered by LNG, methanol and hydrogen. In particular, for methanol-fuelled vessels, production was first established at the domestic headquarters yard and subsequently expanded to two overseas shipyards, where a continuous construction system has now been successfully implemented. In addition, the Group obtained Approval in Principle (AiP) from ClassNK for methanol-fuelled vessel designs applicable not only to newbuildings but also to existing vessels. This expands decarbonisation options and further enhances the Group\u2019s ability to meet diverse customer needs. The jointly developed \u201cBingo42\u201d with Onomichi Dockyard represents another key initiative, where both companies shared expertise and development philosophies to enhance the value of conventional vessel designs. This has resulted in improved fuel efficiency while reducing design and development workload. At the design base established in Timor-Leste in 2024, the Group continues to develop engineering talent and is gradually transitioning to detailed design work for actual vessels. Regarding the construction of a new shipyard, discussions with the government are ongoing; however, following the visit of President Jos\u00e9 Ramos-Horta last summer, cooperation from the local government has strengthened, accelerating progress on the project. Building on the expertise accumulated through its global expansion, the Group is steadily advancing plans to expand its shipbuilding capacity. In the ship repair business, the \u201crepair network\u201d established in collaboration with domestic Group companies has continued to deliver solid results. The Group will further strengthen inter-company collaboration to maximise both revenue and profitability. During the year, the Group also undertook a reorganisation of its capital structure and implemented corporate name changes, reinforcing the management foundation of the shipbuilding segment and promoting more integrated operations. This has further strengthened Group-wide collaboration across newbuilding, repair, and design and development functions, enhancing overall competitiveness. Furthermore, as a foundation supporting these initiatives, the Group continues to invest in talent acquisition and development, as well as improvements in employee benefits, creating a working environment in which each employee can fully realise their potential. FY2026 Outlook In FY2026, the Group will focus on strengthening its shipbuilding competitiveness through faster product development, enhanced production efficiency, and greater lifecycle value for customers. To respond to increasingly diverse market needs, the Group will pursue shorter design lead times and more advanced product development methodologies. At the same time, it will further advance factory automation and the utilisation of digital technologies to improve productivity and create more sophisticated production environments. Development of the seventh-generation KAMSARMAX is also progressing, with a focus on compliance with EEDI Phase 4 requirements and future upgrade readiness. These efforts will further enhance energy efficiency while reinforcing the competitiveness of the Group\u2019s core vessel portfolio. Beyond newbuilding, the Group will place greater emphasis on post-delivery operational support and maintenance services, creating additional value across the vessel lifecycle. Through these initiatives, it aims to strengthen long-term customer relationships, deliver greater value to customers, and support sustainable growth. Environmental Business FY2025 Overview Amid accelerating corporate efforts to reduce environmental impact, including decarbonisation and the transition to renewable energy, the Group expanded its material recycling operations within the Environmental Business. However, from this fiscal year, the application of new accounting standards (revenue recognition standards) to the non-ferrous metals business operated by Cycle Trend Industries Sdn. Bhd. resulted in a decline in reported revenue. Under the previous accounting standards, the business would have recorded an increase in revenue. In addition, at TSUNEISHI KAMTECS CORPORATION, reduced production caused by issues such as a malfunction in incineration facilities at the Fukuyama plant led to a decrease in profit for the year. FY2026 Outlook Leveraging its licences and capabilities across a wide range of waste treatment processes\u2014including incineration, melting, calcination, blending, fermentation and waste oil treatment\u2014the Group will work to establish a framework for delivering integrated environmental solutions that enable resource recycling across multiple regions through its network. In addition to improving recycling rates for both industrial and municipal waste, the Group will promote capital investment and technological development aimed at reducing CO\u2082 emissions and advancing decarbonisation. It will also respond swiftly to emerging challenges, including the handling of newly regulated substances. The Group will continue to ensure safe operations with zero accidents and full compliance, while accelerating ESG-driven management and contributing to all stakeholders. Trading & Energy Business FY2025 Overview In FY2025, while demand in key markets remained generally resilient, the Group focused on price optimisation, improvements in procurement and logistics efficiency, and the levelling of operations across its businesses, thereby ensuring stable supply and enhancing quality. In the steel and marine equipment trading business, revenue declined due to lower sales volumes and reduced unit prices for steel products. However, supported by the strong performance of the shipbuilding business, supply of materials to Group companies expanded. In addition, increased sales of higher-margin products, such as piping materials and equipment, contributed to overall profitability. In the energy business, although fuel sales volumes decreased, higher margins resulted in performance remaining broadly in line with the previous year. In the mobility business, profitability continued to improve, driven by higher gross margins in vehicle inspections, as well as increased demand for construction machinery rental and maintenance services. In the power business, the Group commenced electricity supply to its own operations, contributing to the advancement of GX (Green Transformation) initiatives across the TSUNEISHI Group. As part of its growth investments, the new business development division has executed seven initiatives since the merger of three companies in 2024, including both M&A transactions and the launch of new businesses. Notably, in FY2025, the Group strengthened its business foundation through the acquisition of Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., both based in Kanazawa, Ishikawa Prefecture, in collaboration with Yoshida, a Group company within the Environmental Business. FY2026 Outlook To realise its \u201cNiche Top and Area Top\u201d strategy, the Group will pursue both growth investments and the strengthening of its business foundation in parallel. In the mobility business, in addition to Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., which joined the Group in the previous year, Marusei Jidosha Co., Ltd. in Fukuyama is scheduled to join in FY2026. This will further strengthen the Group\u2019s commercial vehicle maintenance operations and accelerate the standardisation of quality and human resource development. The Group will continue to provide safety and reliability to customers through its automotive-related services, while promoting business expansion through service stations and the development of new business formats. As part of its contribution to the Group\u2019s sustainable growth, the power business will support the advancement of GX initiatives, while the steel and marine equipment trading business will contribute to production expansion through closer collaboration with Group companies. Under its medium-term policy of becoming \u201ca core company responsible for business creation within the TSUNEISHI Group\u201d, the division will continue to promote new business development and M&A activities, further diversifying its business portfolio. Life & Resorts Business FY2025 Overview In FY2025, the Life & Resorts Business continued to enhance the value of its products and services. For gunt\u00fb, now in its eighth year of operation, this included the introduction of a new cabin category, \u201cTerrace Suite Prestige\u201d, as well as the development of a special Osaka cruise route launched in August 2025. These initiatives contributed to the acquisition of new customers and improved profitability. In addition, events across the Setouchi region attracted significant attention both domestically and internationally. These included the Hiroshima International Architecture Festival, which welcomed over 200,000 visitors, as well as the Setouchi Triennale and Okayama Art Summit. As a result, the multi-purpose complexes ONOMICHI U2 and LOG recorded strong growth. At Miroku no Sato, the expansion of the pool area helped alleviate congestion during the peak summer season and improved overall visitor comfort, contributing to increased attendance, particularly among families. In addition, the enhancement of seasonal events and experiential content created new reasons for visitation. School training programmes remained stable, supported by continued use from existing organisations. Meanwhile, sports events and training camps also performed steadily, underpinned by the development of flexible operational arrangements in response to extreme summer heat and other factors. However, overall revenue in the Life & Resorts Business declined, primarily due to the temporary closure of Bella Vista Spa & Marina Onomichi for redevelopment. FY2026 Outlook As part of efforts to strengthen the TSUNEISHI Group brand, three companies within the Life & Resorts Business have adopted new corporate names incorporating \u201cTSUNEISHI\u201d. This initiative is intended to promote a shared identity and values across the Group, while enhancing overall cohesion. Looking ahead, the Group will further deepen its business across six key areas\u2014cruise operations, hotels, marinas, leisure facilities, training facilities, and food and beverage services\u2014by implementing initiatives aimed at enhancing customer value. On 20 March 2026, a new attraction, \u201cTeppen Mountain\u201d, was opened at Miroku no Sato and is being positioned as a new driver of visitor growth. In addition, preparations are underway for the opening of a new hotel. The Group will also strengthen its efforts to capture inbound tourism demand not only from the domestic market but also from Europe, North America, Australia and Southeast Asia. \u3010About TSUNEISHI Group\u3011 Founded in 1903 as a shipping company, TSUNEISHI Group operates across five core business domains: shipbuilding, shipping, trading & energy, environmental services, and life & resorts. Under the slogan \u201cCreating the future, today\u201d, the Group continues to create unique value by anticipating the needs of the future. In 2025, the Group also established a Social Contribution Promotion Department to further expand its support for local communities. For further information, please contact: Corporate Communications Department TSUNEISHI GROUP CORPORATION Email: pr@tsuneishi.com Head Office: 1083 Tsuneishi, Numakuma-cho, Fukuyama, Hiroshima 720-0393, Japan Website: https:\/\/www.tsuneishi-g.jp\/","inLanguage":"en-US","isPartOf":{"@id":"https:\/\/www.tsuneishi-g.jp\/english\/#website"},"breadcrumb":{"@id":"https:\/\/www.tsuneishi-g.jp\/english\/news\/press\/2026\/04\/30589\/#breadcrumblist"},"datePublished":"2026-04-13T12:00:33+09:00","dateModified":"2026-06-04T10:59:43+09:00"},{"@type":"WebSite","@id":"https:\/\/www.tsuneishi-g.jp\/english\/#website","url":"https:\/\/www.tsuneishi-g.jp\/english\/","name":"Tsuneishi Group","description":"This is the TSUNEISHI Group portal site. A corporate group headquartered in Hiroshima that develops shipbuilding, shipping, environment, energy, life & resort businesses.","inLanguage":"en-US","publisher":{"@id":"https:\/\/www.tsuneishi-g.jp\/english\/#organization"}}]},"og:locale":"en_US","og:site_name":"Tsuneishi Group","og:type":"article","og:title":"TSUNEISHI Group Reports Consolidated Financial Results for FY2025 | Tsuneishi Group","og:description":"TSUNEISHI Group Co., Ltd. announced its consolidated financial results for the fiscal year 2025 (1 January \u2013 31 December 2025). Consolidated revenue totalled JPY 348.0 billion (down 4.8% year-on-year), while ordinary profit reached JPY 32.5 billion (down 29.0% year-on-year). Segment Performance Revenue by segment was as follows: Shipping Business Revenue decreased by JPY 6.1 billion year-on-year to JPY 53.1 billion (down 10.0%), mainly due to weak charter markets in the first half, reduced charter income following the sale of car carriers, and a decline in resale transactions of newbuild vessels. Shipbuilding Business Revenue decreased by JPY 11.8 billion to JPY 263.0 billion (down 4.2%), reflecting fewer vessel deliveries due to extended construction periods for Alternative-Fuel Vessels. Environmental Business Revenue declined by JPY 8.2 billion to JPY 20.3 billion (down 28.7%), primarily due to the application of new revenue recognition standards in the non-ferrous metals business in Malaysia. Trading &amp; Energy Business Revenue decreased by JPY 6.2 billion to JPY 63.2 billion (down 9.0%), as steel prices stabilised. Life &amp; Resorts Business Revenue fell by JPY 1.1 billion to JPY 4.3 billion (down 20.3%), despite increased demand driven by expanded cruise routes for gunt\u00fb, due to the closure of Bella Vista Spa &amp; Marina Onomichi. TSUNEISHI Group Consolidated Revenue by Business Segment (FY2025) (after intercompany eliminations) TSUNEISHI Group Consolidated Revenue Trend (after intercompany eliminations) * Revenue figures in the main text are reported before intercompany eliminations. Overall Performance Despite a year-on-year decline following record-high results in FY2024, FY2025 marked the second-highest performance level since the introduction of consolidated accounting in 2007. Overall, the Group maintained a steady growth trajectory, demonstrating the continued resilience of its business portfolio. The Group also formulated its long-term vision, \u201cTSUNEISHI Group Michishirube 2035\u201d, setting out a growth strategy centred on achieving \u201cNiche Top and Area Top\u201d positions, alongside a cultural principle, \u201cTo be driven by people, committed to people,\u201d which emphasises placing people at the centre of decision-making and organisational development. By fostering an organisation in which each employee can act autonomously based on shared values, the Group aims to strengthen its resilience to change and accelerate transformation. Looking ahead, TSUNEISHI Group targets JPY 800.0 billion in business scale over the next decade, positioning itself as a driver of transformation. Financial Information \u30fbFiscal Year: January \u2013 December \u30fbConsolidated Entities: 40 companies (21 domestic, 19 overseas) Shipping Business FY2025 Overview The bulk carrier market remained at a low level from the beginning of the year. In addition, uncertainty in the market increased further due to the introduction of reciprocal tariffs by the United States, as well as port entry charges imposed on China-related vessels and non-US-built ships. As a result of these factors, revenue declined in the first half of the year, reflecting a combination of weak charter market conditions for bulk carriers, reduced charter income following the sale of car carriers, and a decrease in resale transactions of newbuild vessels. Despite this, revenue exceeded the budget. In the vessel chartering business, market conditions were supported by several factors, including restrictions on domestic coal production in China, a recovery in iron ore demand for China, and a more than 20% year-on-year increase in seaborne bauxite shipments, which involve long-distance transportation. In the second half of the year, the Group actively capitalised on the recovery in the bulk carrier market by securing charter contracts for open positions in 2025 and 2026, while also promoting the fixing of index-linked charter rates. In the container vessel chartering business, the Group recorded losses in line with the budget, as rising US dollar borrowing costs could not be fully absorbed by previously contracted charter rates. In contrast, product tankers maintained favourable market conditions, serving as a key driver of earnings improvement. For LPG carriers, a second newly built vessel was delivered in October 2025, and a time charter contract was concluded with a European energy company. In addition, the Japan\u2013China liner container service, which marked its 30th anniversary, maintained stable operations, supported by steady demand and optimisation of service schedules. In terms of fleet development, four vessels were added during the year: a methanol dual-fuel 66BC in May, a newly designed KAMSARMAX in July, a hydrogen-blended fuel tugboat in October, and an LPG carrier. FY2026 Outlook In 2025, the adoption of mid-term measures by the International Maritime Organization (IMO) aimed at reducing greenhouse gas (GHG) emissions was postponed due to strong opposition from the United States, which may affect the wider adoption of alternative fuel vessels. Against this backdrop, the Group will continue to enhance the environmental performance of its owned fleet. Specifically, it will promote decarbonisation by installing energy-saving devices and utilising biofuels compatible with existing engines, in cooperation with charterers. In March 2026, a newly built LNG dual-fuel bulk carrier was added to the fleet. Going forward, the Group will continue to diversify vessel types in order to mitigate exposure to market volatility. Furthermore, the delivery of two material transport vessels is scheduled for FY2026, with the aim of strengthening stable logistics to overseas shipyards operated by TSUNEISHI Shipbuilding. Shipbuilding Business FY2025 Overview In FY2025, the Group constructed 41 vessels, including dual-fuelled vessels (compared with 42 vessels in the previous year), maintaining a high level of production while ensuring stable business operations. On the order front, although the peak in newbuilding orders seen in previous years subsided and shipowners adopted a more cautious stance, the Group successfully captured steady demand, particularly from repeat customers. As a result, supported by a solid order backlog accumulated in prior years, it continues to secure a sufficient volume of work in hand. The continued depreciation of the Japanese yen contributed to increased revenue; however, through strategic foreign exchange management, the Group was also able to maximise profitability. In the newbuilding business, the Group further strengthened its development of dual-fuelled vessels. Leveraging expertise gained through the in-house production of LPG tanks, it has advanced the construction of vessels powered by LNG, methanol and hydrogen. In particular, for methanol-fuelled vessels, production was first established at the domestic headquarters yard and subsequently expanded to two overseas shipyards, where a continuous construction system has now been successfully implemented. In addition, the Group obtained Approval in Principle (AiP) from ClassNK for methanol-fuelled vessel designs applicable not only to newbuildings but also to existing vessels. This expands decarbonisation options and further enhances the Group\u2019s ability to meet diverse customer needs. The jointly developed \u201cBingo42\u201d with Onomichi Dockyard represents another key initiative, where both companies shared expertise and development philosophies to enhance the value of conventional vessel designs. This has resulted in improved fuel efficiency while reducing design and development workload. At the design base established in Timor-Leste in 2024, the Group continues to develop engineering talent and is gradually transitioning to detailed design work for actual vessels. Regarding the construction of a new shipyard, discussions with the government are ongoing; however, following the visit of President Jos\u00e9 Ramos-Horta last summer, cooperation from the local government has strengthened, accelerating progress on the project. Building on the expertise accumulated through its global expansion, the Group is steadily advancing plans to expand its shipbuilding capacity. In the ship repair business, the \u201crepair network\u201d established in collaboration with domestic Group companies has continued to deliver solid results. The Group will further strengthen inter-company collaboration to maximise both revenue and profitability. During the year, the Group also undertook a reorganisation of its capital structure and implemented corporate name changes, reinforcing the management foundation of the shipbuilding segment and promoting more integrated operations. This has further strengthened Group-wide collaboration across newbuilding, repair, and design and development functions, enhancing overall competitiveness. Furthermore, as a foundation supporting these initiatives, the Group continues to invest in talent acquisition and development, as well as improvements in employee benefits, creating a working environment in which each employee can fully realise their potential. FY2026 Outlook In FY2026, the Group will focus on strengthening its shipbuilding competitiveness through faster product development, enhanced production efficiency, and greater lifecycle value for customers. To respond to increasingly diverse market needs, the Group will pursue shorter design lead times and more advanced product development methodologies. At the same time, it will further advance factory automation and the utilisation of digital technologies to improve productivity and create more sophisticated production environments. Development of the seventh-generation KAMSARMAX is also progressing, with a focus on compliance with EEDI Phase 4 requirements and future upgrade readiness. These efforts will further enhance energy efficiency while reinforcing the competitiveness of the Group\u2019s core vessel portfolio. Beyond newbuilding, the Group will place greater emphasis on post-delivery operational support and maintenance services, creating additional value across the vessel lifecycle. Through these initiatives, it aims to strengthen long-term customer relationships, deliver greater value to customers, and support sustainable growth. Environmental Business FY2025 Overview Amid accelerating corporate efforts to reduce environmental impact, including decarbonisation and the transition to renewable energy, the Group expanded its material recycling operations within the Environmental Business. However, from this fiscal year, the application of new accounting standards (revenue recognition standards) to the non-ferrous metals business operated by Cycle Trend Industries Sdn. Bhd. resulted in a decline in reported revenue. Under the previous accounting standards, the business would have recorded an increase in revenue. In addition, at TSUNEISHI KAMTECS CORPORATION, reduced production caused by issues such as a malfunction in incineration facilities at the Fukuyama plant led to a decrease in profit for the year. FY2026 Outlook Leveraging its licences and capabilities across a wide range of waste treatment processes\u2014including incineration, melting, calcination, blending, fermentation and waste oil treatment\u2014the Group will work to establish a framework for delivering integrated environmental solutions that enable resource recycling across multiple regions through its network. In addition to improving recycling rates for both industrial and municipal waste, the Group will promote capital investment and technological development aimed at reducing CO\u2082 emissions and advancing decarbonisation. It will also respond swiftly to emerging challenges, including the handling of newly regulated substances. The Group will continue to ensure safe operations with zero accidents and full compliance, while accelerating ESG-driven management and contributing to all stakeholders. Trading &amp; Energy Business FY2025 Overview In FY2025, while demand in key markets remained generally resilient, the Group focused on price optimisation, improvements in procurement and logistics efficiency, and the levelling of operations across its businesses, thereby ensuring stable supply and enhancing quality. In the steel and marine equipment trading business, revenue declined due to lower sales volumes and reduced unit prices for steel products. However, supported by the strong performance of the shipbuilding business, supply of materials to Group companies expanded. In addition, increased sales of higher-margin products, such as piping materials and equipment, contributed to overall profitability. In the energy business, although fuel sales volumes decreased, higher margins resulted in performance remaining broadly in line with the previous year. In the mobility business, profitability continued to improve, driven by higher gross margins in vehicle inspections, as well as increased demand for construction machinery rental and maintenance services. In the power business, the Group commenced electricity supply to its own operations, contributing to the advancement of GX (Green Transformation) initiatives across the TSUNEISHI Group. As part of its growth investments, the new business development division has executed seven initiatives since the merger of three companies in 2024, including both M&amp;A transactions and the launch of new businesses. Notably, in FY2025, the Group strengthened its business foundation through the acquisition of Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., both based in Kanazawa, Ishikawa Prefecture, in collaboration with Yoshida, a Group company within the Environmental Business. FY2026 Outlook To realise its \u201cNiche Top and Area Top\u201d strategy, the Group will pursue both growth investments and the strengthening of its business foundation in parallel. In the mobility business, in addition to Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., which joined the Group in the previous year, Marusei Jidosha Co., Ltd. in Fukuyama is scheduled to join in FY2026. This will further strengthen the Group\u2019s commercial vehicle maintenance operations and accelerate the standardisation of quality and human resource development. The Group will continue to provide safety and reliability to customers through its automotive-related services, while promoting business expansion through service stations and the development of new business formats. As part of its contribution to the Group\u2019s sustainable growth, the power business will support the advancement of GX initiatives, while the steel and marine equipment trading business will contribute to production expansion through closer collaboration with Group companies. Under its medium-term policy of becoming \u201ca core company responsible for business creation within the TSUNEISHI Group\u201d, the division will continue to promote new business development and M&amp;A activities, further diversifying its business portfolio. Life &amp; Resorts Business FY2025 Overview In FY2025, the Life &amp; Resorts Business continued to enhance the value of its products and services. For gunt\u00fb, now in its eighth year of operation, this included the introduction of a new cabin category, \u201cTerrace Suite Prestige\u201d, as well as the development of a special Osaka cruise route launched in August 2025. These initiatives contributed to the acquisition of new customers and improved profitability. In addition, events across the Setouchi region attracted significant attention both domestically and internationally. These included the Hiroshima International Architecture Festival, which welcomed over 200,000 visitors, as well as the Setouchi Triennale and Okayama Art Summit. As a result, the multi-purpose complexes ONOMICHI U2 and LOG recorded strong growth. At Miroku no Sato, the expansion of the pool area helped alleviate congestion during the peak summer season and improved overall visitor comfort, contributing to increased attendance, particularly among families. In addition, the enhancement of seasonal events and experiential content created new reasons for visitation. School training programmes remained stable, supported by continued use from existing organisations. Meanwhile, sports events and training camps also performed steadily, underpinned by the development of flexible operational arrangements in response to extreme summer heat and other factors. However, overall revenue in the Life &amp; Resorts Business declined, primarily due to the temporary closure of Bella Vista Spa &amp; Marina Onomichi for redevelopment. FY2026 Outlook As part of efforts to strengthen the TSUNEISHI Group brand, three companies within the Life &amp; Resorts Business have adopted new corporate names incorporating \u201cTSUNEISHI\u201d. This initiative is intended to promote a shared identity and values across the Group, while enhancing overall cohesion. Looking ahead, the Group will further deepen its business across six key areas\u2014cruise operations, hotels, marinas, leisure facilities, training facilities, and food and beverage services\u2014by implementing initiatives aimed at enhancing customer value. On 20 March 2026, a new attraction, \u201cTeppen Mountain\u201d, was opened at Miroku no Sato and is being positioned as a new driver of visitor growth. In addition, preparations are underway for the opening of a new hotel. The Group will also strengthen its efforts to capture inbound tourism demand not only from the domestic market but also from Europe, North America, Australia and Southeast Asia. \u3010About TSUNEISHI Group\u3011 Founded in 1903 as a shipping company, TSUNEISHI Group operates across five core business domains: shipbuilding, shipping, trading &amp; energy, environmental services, and life &amp; resorts. Under the slogan \u201cCreating the future, today\u201d, the Group continues to create unique value by anticipating the needs of the future. In 2025, the Group also established a Social Contribution Promotion Department to further expand its support for local communities. For further information, please contact: Corporate Communications Department TSUNEISHI GROUP CORPORATION Email: pr@tsuneishi.com Head Office: 1083 Tsuneishi, Numakuma-cho, Fukuyama, Hiroshima 720-0393, Japan Website: https:\/\/www.tsuneishi-g.jp\/","og:url":"https:\/\/www.tsuneishi-g.jp\/english\/news\/press\/2026\/04\/30589\/","og:image":"https:\/\/www.tsuneishi-g.jp\/wp\/wp-content\/uploads\/2025\/04\/IMG_9440.png","og:image:secure_url":"https:\/\/www.tsuneishi-g.jp\/wp\/wp-content\/uploads\/2025\/04\/IMG_9440.png","og:image:width":1200,"og:image:height":630,"article:published_time":"2026-04-13T03:00:33+00:00","article:modified_time":"2026-06-04T01:59:43+00:00","twitter:card":"summary","twitter:title":"TSUNEISHI Group Reports Consolidated Financial Results for FY2025 | Tsuneishi Group","twitter:description":"TSUNEISHI Group Co., Ltd. announced its consolidated financial results for the fiscal year 2025 (1 January \u2013 31 December 2025). Consolidated revenue totalled JPY 348.0 billion (down 4.8% year-on-year), while ordinary profit reached JPY 32.5 billion (down 29.0% year-on-year). Segment Performance Revenue by segment was as follows: Shipping Business Revenue decreased by JPY 6.1 billion year-on-year to JPY 53.1 billion (down 10.0%), mainly due to weak charter markets in the first half, reduced charter income following the sale of car carriers, and a decline in resale transactions of newbuild vessels. Shipbuilding Business Revenue decreased by JPY 11.8 billion to JPY 263.0 billion (down 4.2%), reflecting fewer vessel deliveries due to extended construction periods for Alternative-Fuel Vessels. Environmental Business Revenue declined by JPY 8.2 billion to JPY 20.3 billion (down 28.7%), primarily due to the application of new revenue recognition standards in the non-ferrous metals business in Malaysia. Trading &amp; Energy Business Revenue decreased by JPY 6.2 billion to JPY 63.2 billion (down 9.0%), as steel prices stabilised. Life &amp; Resorts Business Revenue fell by JPY 1.1 billion to JPY 4.3 billion (down 20.3%), despite increased demand driven by expanded cruise routes for gunt\u00fb, due to the closure of Bella Vista Spa &amp; Marina Onomichi. TSUNEISHI Group Consolidated Revenue by Business Segment (FY2025) (after intercompany eliminations) TSUNEISHI Group Consolidated Revenue Trend (after intercompany eliminations) * Revenue figures in the main text are reported before intercompany eliminations. Overall Performance Despite a year-on-year decline following record-high results in FY2024, FY2025 marked the second-highest performance level since the introduction of consolidated accounting in 2007. Overall, the Group maintained a steady growth trajectory, demonstrating the continued resilience of its business portfolio. The Group also formulated its long-term vision, \u201cTSUNEISHI Group Michishirube 2035\u201d, setting out a growth strategy centred on achieving \u201cNiche Top and Area Top\u201d positions, alongside a cultural principle, \u201cTo be driven by people, committed to people,\u201d which emphasises placing people at the centre of decision-making and organisational development. By fostering an organisation in which each employee can act autonomously based on shared values, the Group aims to strengthen its resilience to change and accelerate transformation. Looking ahead, TSUNEISHI Group targets JPY 800.0 billion in business scale over the next decade, positioning itself as a driver of transformation. Financial Information \u30fbFiscal Year: January \u2013 December \u30fbConsolidated Entities: 40 companies (21 domestic, 19 overseas) Shipping Business FY2025 Overview The bulk carrier market remained at a low level from the beginning of the year. In addition, uncertainty in the market increased further due to the introduction of reciprocal tariffs by the United States, as well as port entry charges imposed on China-related vessels and non-US-built ships. As a result of these factors, revenue declined in the first half of the year, reflecting a combination of weak charter market conditions for bulk carriers, reduced charter income following the sale of car carriers, and a decrease in resale transactions of newbuild vessels. Despite this, revenue exceeded the budget. In the vessel chartering business, market conditions were supported by several factors, including restrictions on domestic coal production in China, a recovery in iron ore demand for China, and a more than 20% year-on-year increase in seaborne bauxite shipments, which involve long-distance transportation. In the second half of the year, the Group actively capitalised on the recovery in the bulk carrier market by securing charter contracts for open positions in 2025 and 2026, while also promoting the fixing of index-linked charter rates. In the container vessel chartering business, the Group recorded losses in line with the budget, as rising US dollar borrowing costs could not be fully absorbed by previously contracted charter rates. In contrast, product tankers maintained favourable market conditions, serving as a key driver of earnings improvement. For LPG carriers, a second newly built vessel was delivered in October 2025, and a time charter contract was concluded with a European energy company. In addition, the Japan\u2013China liner container service, which marked its 30th anniversary, maintained stable operations, supported by steady demand and optimisation of service schedules. In terms of fleet development, four vessels were added during the year: a methanol dual-fuel 66BC in May, a newly designed KAMSARMAX in July, a hydrogen-blended fuel tugboat in October, and an LPG carrier. FY2026 Outlook In 2025, the adoption of mid-term measures by the International Maritime Organization (IMO) aimed at reducing greenhouse gas (GHG) emissions was postponed due to strong opposition from the United States, which may affect the wider adoption of alternative fuel vessels. Against this backdrop, the Group will continue to enhance the environmental performance of its owned fleet. Specifically, it will promote decarbonisation by installing energy-saving devices and utilising biofuels compatible with existing engines, in cooperation with charterers. In March 2026, a newly built LNG dual-fuel bulk carrier was added to the fleet. Going forward, the Group will continue to diversify vessel types in order to mitigate exposure to market volatility. Furthermore, the delivery of two material transport vessels is scheduled for FY2026, with the aim of strengthening stable logistics to overseas shipyards operated by TSUNEISHI Shipbuilding. Shipbuilding Business FY2025 Overview In FY2025, the Group constructed 41 vessels, including dual-fuelled vessels (compared with 42 vessels in the previous year), maintaining a high level of production while ensuring stable business operations. On the order front, although the peak in newbuilding orders seen in previous years subsided and shipowners adopted a more cautious stance, the Group successfully captured steady demand, particularly from repeat customers. As a result, supported by a solid order backlog accumulated in prior years, it continues to secure a sufficient volume of work in hand. The continued depreciation of the Japanese yen contributed to increased revenue; however, through strategic foreign exchange management, the Group was also able to maximise profitability. In the newbuilding business, the Group further strengthened its development of dual-fuelled vessels. Leveraging expertise gained through the in-house production of LPG tanks, it has advanced the construction of vessels powered by LNG, methanol and hydrogen. In particular, for methanol-fuelled vessels, production was first established at the domestic headquarters yard and subsequently expanded to two overseas shipyards, where a continuous construction system has now been successfully implemented. In addition, the Group obtained Approval in Principle (AiP) from ClassNK for methanol-fuelled vessel designs applicable not only to newbuildings but also to existing vessels. This expands decarbonisation options and further enhances the Group\u2019s ability to meet diverse customer needs. The jointly developed \u201cBingo42\u201d with Onomichi Dockyard represents another key initiative, where both companies shared expertise and development philosophies to enhance the value of conventional vessel designs. This has resulted in improved fuel efficiency while reducing design and development workload. At the design base established in Timor-Leste in 2024, the Group continues to develop engineering talent and is gradually transitioning to detailed design work for actual vessels. Regarding the construction of a new shipyard, discussions with the government are ongoing; however, following the visit of President Jos\u00e9 Ramos-Horta last summer, cooperation from the local government has strengthened, accelerating progress on the project. Building on the expertise accumulated through its global expansion, the Group is steadily advancing plans to expand its shipbuilding capacity. In the ship repair business, the \u201crepair network\u201d established in collaboration with domestic Group companies has continued to deliver solid results. The Group will further strengthen inter-company collaboration to maximise both revenue and profitability. During the year, the Group also undertook a reorganisation of its capital structure and implemented corporate name changes, reinforcing the management foundation of the shipbuilding segment and promoting more integrated operations. This has further strengthened Group-wide collaboration across newbuilding, repair, and design and development functions, enhancing overall competitiveness. Furthermore, as a foundation supporting these initiatives, the Group continues to invest in talent acquisition and development, as well as improvements in employee benefits, creating a working environment in which each employee can fully realise their potential. FY2026 Outlook In FY2026, the Group will focus on strengthening its shipbuilding competitiveness through faster product development, enhanced production efficiency, and greater lifecycle value for customers. To respond to increasingly diverse market needs, the Group will pursue shorter design lead times and more advanced product development methodologies. At the same time, it will further advance factory automation and the utilisation of digital technologies to improve productivity and create more sophisticated production environments. Development of the seventh-generation KAMSARMAX is also progressing, with a focus on compliance with EEDI Phase 4 requirements and future upgrade readiness. These efforts will further enhance energy efficiency while reinforcing the competitiveness of the Group\u2019s core vessel portfolio. Beyond newbuilding, the Group will place greater emphasis on post-delivery operational support and maintenance services, creating additional value across the vessel lifecycle. Through these initiatives, it aims to strengthen long-term customer relationships, deliver greater value to customers, and support sustainable growth. Environmental Business FY2025 Overview Amid accelerating corporate efforts to reduce environmental impact, including decarbonisation and the transition to renewable energy, the Group expanded its material recycling operations within the Environmental Business. However, from this fiscal year, the application of new accounting standards (revenue recognition standards) to the non-ferrous metals business operated by Cycle Trend Industries Sdn. Bhd. resulted in a decline in reported revenue. Under the previous accounting standards, the business would have recorded an increase in revenue. In addition, at TSUNEISHI KAMTECS CORPORATION, reduced production caused by issues such as a malfunction in incineration facilities at the Fukuyama plant led to a decrease in profit for the year. FY2026 Outlook Leveraging its licences and capabilities across a wide range of waste treatment processes\u2014including incineration, melting, calcination, blending, fermentation and waste oil treatment\u2014the Group will work to establish a framework for delivering integrated environmental solutions that enable resource recycling across multiple regions through its network. In addition to improving recycling rates for both industrial and municipal waste, the Group will promote capital investment and technological development aimed at reducing CO\u2082 emissions and advancing decarbonisation. It will also respond swiftly to emerging challenges, including the handling of newly regulated substances. The Group will continue to ensure safe operations with zero accidents and full compliance, while accelerating ESG-driven management and contributing to all stakeholders. Trading &amp; Energy Business FY2025 Overview In FY2025, while demand in key markets remained generally resilient, the Group focused on price optimisation, improvements in procurement and logistics efficiency, and the levelling of operations across its businesses, thereby ensuring stable supply and enhancing quality. In the steel and marine equipment trading business, revenue declined due to lower sales volumes and reduced unit prices for steel products. However, supported by the strong performance of the shipbuilding business, supply of materials to Group companies expanded. In addition, increased sales of higher-margin products, such as piping materials and equipment, contributed to overall profitability. In the energy business, although fuel sales volumes decreased, higher margins resulted in performance remaining broadly in line with the previous year. In the mobility business, profitability continued to improve, driven by higher gross margins in vehicle inspections, as well as increased demand for construction machinery rental and maintenance services. In the power business, the Group commenced electricity supply to its own operations, contributing to the advancement of GX (Green Transformation) initiatives across the TSUNEISHI Group. As part of its growth investments, the new business development division has executed seven initiatives since the merger of three companies in 2024, including both M&amp;A transactions and the launch of new businesses. Notably, in FY2025, the Group strengthened its business foundation through the acquisition of Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., both based in Kanazawa, Ishikawa Prefecture, in collaboration with Yoshida, a Group company within the Environmental Business. FY2026 Outlook To realise its \u201cNiche Top and Area Top\u201d strategy, the Group will pursue both growth investments and the strengthening of its business foundation in parallel. In the mobility business, in addition to Izumi Jidosha Co., Ltd. and Hokkoku Denso Co., Ltd., which joined the Group in the previous year, Marusei Jidosha Co., Ltd. in Fukuyama is scheduled to join in FY2026. This will further strengthen the Group\u2019s commercial vehicle maintenance operations and accelerate the standardisation of quality and human resource development. The Group will continue to provide safety and reliability to customers through its automotive-related services, while promoting business expansion through service stations and the development of new business formats. As part of its contribution to the Group\u2019s sustainable growth, the power business will support the advancement of GX initiatives, while the steel and marine equipment trading business will contribute to production expansion through closer collaboration with Group companies. Under its medium-term policy of becoming \u201ca core company responsible for business creation within the TSUNEISHI Group\u201d, the division will continue to promote new business development and M&amp;A activities, further diversifying its business portfolio. Life &amp; Resorts Business FY2025 Overview In FY2025, the Life &amp; Resorts Business continued to enhance the value of its products and services. For gunt\u00fb, now in its eighth year of operation, this included the introduction of a new cabin category, \u201cTerrace Suite Prestige\u201d, as well as the development of a special Osaka cruise route launched in August 2025. These initiatives contributed to the acquisition of new customers and improved profitability. In addition, events across the Setouchi region attracted significant attention both domestically and internationally. These included the Hiroshima International Architecture Festival, which welcomed over 200,000 visitors, as well as the Setouchi Triennale and Okayama Art Summit. As a result, the multi-purpose complexes ONOMICHI U2 and LOG recorded strong growth. At Miroku no Sato, the expansion of the pool area helped alleviate congestion during the peak summer season and improved overall visitor comfort, contributing to increased attendance, particularly among families. In addition, the enhancement of seasonal events and experiential content created new reasons for visitation. School training programmes remained stable, supported by continued use from existing organisations. Meanwhile, sports events and training camps also performed steadily, underpinned by the development of flexible operational arrangements in response to extreme summer heat and other factors. However, overall revenue in the Life &amp; Resorts Business declined, primarily due to the temporary closure of Bella Vista Spa &amp; Marina Onomichi for redevelopment. FY2026 Outlook As part of efforts to strengthen the TSUNEISHI Group brand, three companies within the Life &amp; Resorts Business have adopted new corporate names incorporating \u201cTSUNEISHI\u201d. This initiative is intended to promote a shared identity and values across the Group, while enhancing overall cohesion. Looking ahead, the Group will further deepen its business across six key areas\u2014cruise operations, hotels, marinas, leisure facilities, training facilities, and food and beverage services\u2014by implementing initiatives aimed at enhancing customer value. On 20 March 2026, a new attraction, \u201cTeppen Mountain\u201d, was opened at Miroku no Sato and is being positioned as a new driver of visitor growth. In addition, preparations are underway for the opening of a new hotel. The Group will also strengthen its efforts to capture inbound tourism demand not only from the domestic market but also from Europe, North America, Australia and Southeast Asia. \u3010About TSUNEISHI Group\u3011 Founded in 1903 as a shipping company, TSUNEISHI Group operates across five core business domains: shipbuilding, shipping, trading &amp; energy, environmental services, and life &amp; resorts. Under the slogan \u201cCreating the future, today\u201d, the Group continues to create unique value by anticipating the needs of the future. In 2025, the Group also established a Social Contribution Promotion Department to further expand its support for local communities. For further information, please contact: Corporate Communications Department TSUNEISHI GROUP CORPORATION Email: pr@tsuneishi.com Head Office: 1083 Tsuneishi, Numakuma-cho, Fukuyama, Hiroshima 720-0393, Japan Website: https:\/\/www.tsuneishi-g.jp\/","twitter:image":"https:\/\/www.tsuneishi-g.jp\/wp\/wp-content\/uploads\/2025\/04\/IMG_9440.png"},"aioseo_meta_data":{"post_id":"30589","title":null,"description":null,"keywords":null,"keyphrases":{"focus":{"keyphrase":"","score":0,"analysis":{"keyphraseInTitle":{"score":0,"maxScore":9,"error":1}}},"additional":[]},"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":"","og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":[],"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"WebPage","isEnabled":true},"graphs":[]},"schema_type":"default","schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":"-1","robots_max_videopreview":"-1","robots_max_imagepreview":"large","priority":null,"frequency":"default","local_seo":null,"breadcrumb_settings":null,"limit_modified_date":false,"ai":{"faqs":[],"keyPoints":[],"schemas":[],"titles":[],"descriptions":[],"socialPosts":{"email":[],"linkedin":[],"twitter":[],"facebook":[],"instagram":[]}},"created":"2026-06-03 01:45:46","updated":"2026-06-04 01:59:46","seo_analyzer_scan_date":null},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/www.tsuneishi-g.jp\/english\/\" title=\"Home\">Home<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/www.tsuneishi-g.jp\/english\/news\/\" title=\"\u30cb\u30e5\u30fc\u30b9\">\u30cb\u30e5\u30fc\u30b9<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/www.tsuneishi-g.jp\/english\/industry\/tsuneishi-group\/\" title=\"Tsuneishi Group\">Tsuneishi Group<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\tTSUNEISHI Group Reports Consolidated Financial Results for FY2025\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/www.tsuneishi-g.jp\/english\/"},{"label":"\u30cb\u30e5\u30fc\u30b9","link":"https:\/\/www.tsuneishi-g.jp\/english\/news\/"},{"label":"Tsuneishi Group","link":"https:\/\/www.tsuneishi-g.jp\/english\/industry\/tsuneishi-group\/"},{"label":"TSUNEISHI Group Reports Consolidated Financial Results for FY2025","link":"https:\/\/www.tsuneishi-g.jp\/english\/news\/press\/2026\/04\/30589\/"}],"_links":{"self":[{"href":"https:\/\/www.tsuneishi-g.jp\/english\/wp-json\/wp\/v2\/news\/30589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tsuneishi-g.jp\/english\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.tsuneishi-g.jp\/english\/wp-json\/wp\/v2\/types\/news"}],"wp:attachment":[{"href":"https:\/\/www.tsuneishi-g.jp\/english\/wp-json\/wp\/v2\/media?parent=30589"}],"wp:term":[{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.tsuneishi-g.jp\/english\/wp-json\/wp\/v2\/industry?post=30589"},{"taxonomy":"news-format","embeddable":true,"href":"https:\/\/www.tsuneishi-g.jp\/english\/wp-json\/wp\/v2\/news-format?post=30589"},{"taxonomy":"news-tag","embeddable":true,"href":"https:\/\/www.tsuneishi-g.jp\/english\/wp-json\/wp\/v2\/news-tag?post=30589"},{"taxonomy":"enterprise","embeddable":true,"href":"https:\/\/www.tsuneishi-g.jp\/english\/wp-json\/wp\/v2\/enterprise?post=30589"},{"taxonomy":"news-cat","embeddable":true,"href":"https:\/\/www.tsuneishi-g.jp\/english\/wp-json\/wp\/v2\/news-cat?post=30589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}