NIPPON EXPRESS HOLDINGS, INC.
9147・Prime Market・Land Transportation
Japan (Logistics)
NX Group's largest segment. A comprehensive logistics business underpinning Japan's domestic logistics infrastructure.
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (segment total, including internal), including internal | ¥313,927 million (Q1 FY2026) | ¥312,450 million (Q1 FY2025) | ↑ |
| Revenue from external customers | ¥305,284 million (Q1 FY2026) | ¥303,498 million (Q1 FY2025) | ↑ |
| Segment profit (business profit) | ¥10,296 million (Q1 FY2026) | ¥7,421 million (Q1 FY2025) | ↑ |
| Segment profit margin | 3.3% (Q1 FY2026) | 2.4% (Q1 FY2025) | ↑ |
| Revenue (full-year forecast) | ¥1,270,000 million (FY2026 full-year forecast) | ¥1,260,364 million (FY2025 actual) | ↑ |
| Segment profit (full-year forecast) | ¥55,000 million (FY2026 full-year forecast) | ¥44,511 million (FY2025 actual) | ↑ |
Business Details
Nippon Express Co., Ltd. and its domestic subsidiaries and affiliates provide a wide range of services including rail forwarding, trucking, Air & Ocean Forwarding, Warehousing & Distribution Processing, in-plant operations, Information Asset Management Services, and real estate leasing. As the largest segment, accounting for approximately 48% of NX Group's total revenue, it functions as the source of expertise and know-how for global expansion. The segment continues to pursue rate revisions and cost reduction measures to improve profitability.
Recent Overview
Increased handling of air and ocean cargo, together with rate revision and cost reduction effects, drove higher revenue and profit.
In Q1 FY2026 (January–March), an increase in air cargo and ocean cargo handling, combined with the effects of rate revisions and cost reductions, resulted in revenue of ¥313,927 million (up ¥1,476 million, +0.5% year on year) and a substantial increase in segment profit to ¥10,296 million (up ¥2,874 million, +38.7% year on year). Segment profit margin improved from 2.4% to 3.3%. Domestically, construction-related cargo remained weak, while consumption-related cargo served as a driver.
Key Products
Growth Drivers
- Profitability improvement from the continued effects of rate revisions
- Emerging cost reduction effects from business restructuring and functional integration
- Revenue expansion from increased handling volumes in Air & Ocean Forwarding
- Expansion of Contract Logistics centered on Warehousing & Distribution Processing
- Strengthened customer base and End-to-End solution provision through advanced account management
- Structural reform of low-profitability businesses/locations and improved capital efficiency, with ROIC set as a management target
Risks
- Downward pressure on revenue from declining air and ocean freight rates and sluggish cargo movement
- Structural rise in transport costs due to worsening labor shortages and persistently high fuel costs
- Risk of supply chain disruption and rising transport costs due to escalating tensions in the Middle East
- Supply chain volatility and cargo movement uncertainty stemming from US tariff policy and geopolitical risk
- Continued weakness in domestic logistics demand due to persistently weak construction-related cargo
- Increased capital expenditure and costs associated with environmental regulation compliance (decarbonization)
Last updated: March 25, 2026