Worth reading
56In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
570
million yen (decrease in operating profit)Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFiscal year ending March 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥79,740 million+1.4%
Operating profit¥4,097 million-12.2%
Ordinary income¥4,858 million-13.0%
Net income¥6,333 million+29.0%
Operating profit margin5.1 %
Full-year earnings forecast
Operating revenue
¥83,000 million
Operating profit
¥5,000 million
Ordinary income
¥5,700 million
Profit attributable to owners of the parent
¥6,500 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Collection of appropriate rates (warehousing and transportation)¥467 millionDirectionIncreased
- Expansion of the 3PL business (beverages and high-mix, low-volume logistics)¥163 millionDirectionIncreased
- Lower volumes due to production-site changes by major customers¥100 millionDirectionShown as a factor contributing to the increase
- Maintaining competitiveness through appropriate pricing¥148 millionDirectionDecreased
- Higher investment and one-time expenses associated with the start-up of newly established facilities¥222 millionDirectionDecreased
- Investments in human capital and other expenses¥303 millionDirectionDecreased
- Other¥521 millionDirectionDecreased
New initiatives
- Acquisition of all shares of Meitetsu World Transport Co., Ltd.
- Expansion of logistics facilities for beverages and high-mix, low-volume shipments
- Investment in automation and labor-saving equipment
- Development of a supply chain incorporating a Japanese food ingredients trading function
- Expansion of logistics equipment sales and maintenance operations
- Strengthening initiatives for logistics real estate operations and development projects
- Four-for-one stock split effective 1 October 2025
Key KPIsA metric the company considers important as a management benchmark.
- Equity ratio57.3 %
- Net DER (net debt-to-equity ratio)0.24 times
- Net Debt/EBITDA (interest-bearing debt ratio)2.01 times
- ROE target10 % or higher
- Target ratio of cross-held shares to consolidated net assets20 % or lower
- Payout ratio policy50 % or higher
Segment results
Logistics
Operating revenue
¥73,968 million+1.8%
Operating profit
¥3,663 million-5.7%
Real Estate Business
Operating revenue
¥6,146 million-4.0%
Operating profit
¥3,134 million-6.5%
Medium-term management plan targets
Cross-shareholdings as a percentage of consolidated net assets20% or lower
Target fiscal yearFiscal year ending March 2029 (also stated as fiscal 2028 in the chart)
Comparison with actual resultsCumulative actual proceeds from sales as of 31 March 2026: ¥1,855 million; cumulative planned proceeds from sales: ¥7,449 million
Financial targets
ROE
TargetAt least 10%
Cross-shareholdings as a percentage of consolidated net assets
Target20% or lower
Target fiscal yearFiscal year ending March 2029
Equity ratio
Actual results57.3 %
Net DER
Actual results0.24 times
NetDebt/EBITDA
Actual results2.01 times
Capital expenditures
¥17.4 100 million investment in property, plant and equipment
Annual Dividend
Forecast for the fiscal year ending March 2027
Annual dividend per share¥70
Payout ratio
50 % or higher
TypePayout ratio policy
Acquisition of treasury shares
Acquisition amount¥1,560 million
PeriodFiscal year ended March 2026: actual
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥79,740 million (YoY +1.4%) |
| Operating profit | ¥4,097 million (YoY -12.2%) |
| Ordinary income | ¥4,858 million (YoY -13.0%) |
| Net income | ¥6,333 million (YoY +29.0%) |
| Operating profit margin | 5.1 % |
| Full-year earnings forecast | Operating revenue ¥83,000 million / Operating profit ¥5,000 million / Ordinary income ¥5,700 million / Profit attributable to owners of the parent ¥6,500 million |
| Segment results | Logistics Operating revenue ¥73,968 million (YoY +1.8%) / Operating profit ¥3,663 million (YoY -5.7%) / Real Estate Business Operating revenue ¥6,146 million (YoY -4.0%) / Operating profit ¥3,134 million (YoY -6.5%) |
| Breakdown of Factors Affecting the Change | Factors Collection of appropriate rates (warehousing and transportation) / Amount ¥467 million / Direction Increased, Factors Expansion of the 3PL business (beverages and high-mix, low-volume logistics) / Amount ¥163 million / Direction Increased, Factors Lower volumes due to production-site changes by major customers / Amount ¥100 million / Direction Shown as a factor contributing to the increase, Factors Maintaining competitiveness through appropriate pricing / Amount ¥148 million / Direction Decreased, Factors Higher investment and one-time expenses associated with the start-up of newly established facilities / Amount ¥222 million / Direction Decreased, Factors Investments in human capital and other expenses / Amount ¥303 million / Direction Decreased, Factors Other / Amount ¥521 million / Direction Decreased |
| Key KPIs | Indicator name Equity ratio / Value 57.3 %, Indicator name Net DER (net debt-to-equity ratio) / Value 0.24 times, Indicator name Net Debt/EBITDA (interest-bearing debt ratio) / Value 2.01 times, Indicator name ROE target / Value 10 % or higher, Indicator name Target ratio of cross-held shares to consolidated net assets / Value 20 % or lower, Indicator name Payout ratio policy / Value 50 % or higher |
| Medium-term management plan targets | Cross-shareholdings as a percentage of consolidated net assets 20% or lower / Target fiscal year Fiscal year ending March 2029 (also stated as fiscal 2028 in the chart) / Comparison with actual results Cumulative actual proceeds from sales as of 31 March 2026: ¥1,855 million; cumulative planned proceeds from sales: ¥7,449 million |
| Financial targets | ROE Target At least 10% / Cross-shareholdings as a percentage of consolidated net assets Target 20% or lower / Target fiscal year Fiscal year ending March 2029 / Equity ratio Actual results 57.3 % / Net DER Actual results 0.24 times / NetDebt/EBITDA Actual results 2.01 times |
| Annual Dividend | Annual dividend per share ¥70 / Breakdown Not disclosed / Subject Forecast for the fiscal year ending March 2027 |
| Payout ratio | 50 % or higher |
| Acquisition of treasury shares | Acquisition amount ¥1,560 million / Period Fiscal year ended March 2026: actual |
| Capital expenditures | ¥17.4 100 million (investment in property, plant and equipment) |
| New initiatives | Acquisition of all shares of Meitetsu World Transport Co., Ltd., Expansion of logistics facilities for beverages and high-mix, low-volume shipments, Investment in automation and labor-saving equipment, Development of a supply chain incorporating a Japanese food ingredients trading function, Expansion of logistics equipment sales and maintenance operations, Strengthening initiatives for logistics real estate operations and development projects, Four-for-one stock split effective 1 October 2025 |
Items this document does not state (13)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookOrders received and order backlogMarket Size / ShareKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The increase in operating revenue was driven by strong performance in land transportation, strong performance in beverage-related operations, new business wins related to imported foods and medical equipment, expansion of the 3PL business, and appropriate rate revisions. The decrease in operating profit was due to higher operating costs, fixed-cost burdens arising ahead of revenue generation, increased investment and one-time expenses associated with the start-up of newly established facilities, and investments in human capital. The increase in net income was due to gains on the sale of cross-held shares.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.