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Major Japanese shipping company operating dry bulk, tanker, LNG and car-carrier fleets, plus container shipping via an alliance.
Major Japanese shipping company operating dry bulk, tanker, LNG and car-carrier fleets, plus container shipping via an alliance.
Earns charter hire and freight: LNG and car-carrier ships are mostly on long contracts, while dry bulk ships earn market rates that move with trade. Container shipping runs through Ocean Network Express, the 2018 venture with Nippon Yusen and K Line, so it appears as a share of the venture's profit.
In one line: A Japanese peer to Maersk-scale global shipping conglomerates.
Moat: narrow (scale, installed base). Long-term charter contracts and a large diversified fleet built over a century of shipping operations.
Headquarters: Tokyo, Japan · Founded: 1884 · Employees: 11,567
Size Mitsui O.s.k. Lines (9104.T) is a Japan Industrials company (Marine Shipping) with a market value of $15.0B, the 99th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥6,516 on 6 Nov 2026.
Performance Over six months the shares gained 9.8%, against +16.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 19.8% over the last twelve months (peer median -1.6%); the operating margin is 6.0% (peer median 13.8%).
Valuation It trades at 7.3× forward earnings against a peer median of 8.9× (10th cheapest of 20).
Capital Return on invested capital runs 3.4 points below its cost of capital (5.0% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥2.12T | ¥1.83T | ¥1.78T | ¥1.63T | ¥1.61T |
| Revenue growth | — | +3% | +9% | +1% | — |
| Gross profit | ¥354B | ¥353B | ¥338B | ¥266B | ¥235B |
| EBITDA | ¥336B | ¥302B | ¥281B | ¥206B | ¥201B |
| Net income | ¥221B | ¥213B | ¥425B | ¥262B | ¥796B |
| Free cash flow | n/a | -¥88.1B | -¥93.7B | -¥21.0B | ¥283B |
| Capital expenditure | n/a | ¥539B | ¥454B | ¥335B | ¥267B |
| Total debt | ¥2.60T | ¥2.50T | ¥1.85T | ¥1.30T | ¥1.15T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Mitsui O.s.k. Lines 9104.T | $15.0B | +10% | +20% | 6% | 7.3× | n/a |
| Nippon Yusen Kabushiki Kaisha 9101.T | $16.8B | +17% | 0% | 6% | 9.0× | 7.8% |
| Kawasaki Kisen Kaisha 9107.T | $11.0B | +17% | +11% | 8% | 9.4× | 7.3% |
| A.P. Moller - Maersk A/S MAERSK-A.CO | $47.6B | +44% | -8% | 5% | 5.9× | -1.3% |
| COSCO SHIPPING 1919.HK | $38.5B | +20% | -5% | 13% | 6.0× | -8.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 9104.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.8% | -3.7% | 5th lowest of 21 |
| 6-month return | +9.8% | +16.5% | 7th lowest of 21 |
| Distance from 52-week high | -15.4% | -15.9% | 11th highest of 21 |
| Revenue growth (TTM) | +19.8% | -1.6% | 4th highest of 21 |
| Operating margin | 6.0% | 13.8% | 4th lowest of 21 |
| Forward P/E | 7.3× | 8.9× | 10th cheapest of 20 |
| ROIC minus cost of capital | -3.4 pp | +1.8 pp | 3rd lowest of 21 |
| EV / EBITDA | 14.3× | 5.7× | most expensive of 16 |
| Net debt / EBITDA | 7.2× | 0.3× | 2nd most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mitsui O.s.k. Lines 9104.T | Japan | $15.0B | +10% | +20% | 6% | 7.3× | n/a | n/a |
| HMM 011200.KS | South Korea | $15.3B | +8% | -5% | 11% | 9.7× | -1.8% | +11.2% |
| SITC International 1308.HK | Hong Kong | $15.8B | +34% | +5% | 34% | 10.7× | -0.4% | +15.3% |
| Evergreen Marine Corp(taiwan) 2603.TW | Taiwan | $16.1B | +28% | -20% | 15% | 5.0× | -9.1% | +12.9% |
| Nippon Yusen Kabushiki Kaisha 9101.T | Japan | $16.8B | +17% | 0% | 6% | 9.0× | 7.8% | +8.5% |
| COSCO SHIPPING Energy Transportation 600026.SS | China | $13.2B | -21% | +38% | 33% | 6.1× | -8.2% | +7.8% |
| OOIL 0316.HK | Hong Kong | $12.8B | +10% | -8% | 10% | 5.9× | -2.3% | +3.6% |
| China Merchants Energy Shipping 601872.SS | China | $19.6B | -8% | +60% | 39% | 6.3× | -9.5% | +5.4% |
| Kawasaki Kisen Kaisha 9107.T | Japan | $11.0B | +17% | +11% | 8% | 9.4× | 7.3% | +10.2% |
| Ningbo Zhoushan Port 601018.SS | China | $10.4B | -4% | +12% | 16% | n/a | -7.3% | +7.6% |
| Wan Hai Lines 2615.TW | Taiwan | $9.12B | +40% | -14% | 22% | 5.8× | -12.0% | +11.4% |
| Hapag-Lloyd HLAG.DE | Germany | $25.1B | +11% | -9% | 2% | 18.5× | 34.4% | +7.8% |
| Wallenius Wilhelmsen WAWI.OL | Norway | $7.58B | +29% | -11% | 25% | 10.4× | -6.6% | +21.0% |
| Kuehne & Nagel International KNIN.SW | Switzerland | $34.3B | +35% | +1% | 5% | 25.4× | 3.2% | +3.7% |
| Kirby KEX | United States | $6.39B | -15% | +8% | 14% | 14.6× | 6.2% | +9.2% |
| Matson MATX | United States | $6.34B | +16% | 0% | 14% | 10.9× | 11.8% | +7.0% |
| Yang Ming Marine Transport 2609.TW | Taiwan | $6.03B | +14% | -22% | 6% | 6.5× | n/a | n/a |
| COSCO SHIPPING 1919.HK | Hong Kong | $38.5B | +20% | -5% | 13% | 6.0× | -8.7% | +4.3% |
| A.P. Moller - Maersk A/S MAERSK-A.CO | Denmark | $47.6B | +44% | -8% | 5% | 5.9× | -1.3% | +6.6% |
| COSCO Shipping Specialized Carriers 600428.SS | China | $4.40B | +25% | +37% | 19% | 8.9× | -17.9% | +27.0% |
| COSCO SHIPPING Development 601866.SS | China | $3.87B | -10% | -3% | 13% | 3.8× | n/a | n/a |