Worth reading
69In focus
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
336
¥ million (year-on-year increase in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Results presentationFiscal year ending March 2027, second quarter (first half)10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales44,474 Million yen+11.1%
Operating profit2,514 Million yen+15.5%
Ordinary income3,112 Million yen+16.1%
Net income¥4,709 million +43.3%interim net income attributable to owners of the parent
Operating profit margin5.7 %
Full-year earnings forecast
Operating revenue
90,000 Million yen
Operating profit
5,300 Million yen
Ordinary income
6,000 Million yen
Profit attributable to owners of the parent
7,200 Million yen
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Expansion and new business acquisition in the land transportation business171 Million yen
- Strengthening the international business and improving margins through strong air export performance166 Million yen
- Strengthening and expanding beverage logistics and high-mix, low-volume logistics139 Million yen
- Collection of appropriate charges, including for ancillary transportation work126 Million yen
- Improved utilization rates at newly established locations114 Million yen
- Other, including strong performance in the port business59 Million yen
- Higher personnel and other operating expenses-215 Million yen
- Maintaining transport capacity through appropriate compensation-68 Million yen
- Expenses associated with expanding locations-98 Million yen
- Other-58 Million yen
New initiatives
- Accelerating the reduction of cross-held shares
- Allocating cash generated to growth investments and shareholder returns
- Progressive dividends with a payout ratio of 50% or higher
- Flexible Share Repurchases
Key KPIsA metric the company considers important as a management benchmark.
- Common Equity Ratio54.4 %
- Net DER (net debt-to-equity ratio)0.3 x
- Net Debt/EBITDA (interest-bearing debt ratio)2.4 x
- ROE10.5 %
- PBR1.8 x
Segment results
Logistics Business
Operating revenue
41,524 Million yen+11.8%
Operating profit
2,439 Million yen+31.5%
Real Estate Business
Operating revenue
3,066 Million yen-1.2%
Operating profit
1,573 Million yen-3.5%
Medium-term management plan targets
ROE7.0% or higher (fiscal year ending March 2027)
Cross-shareholdings-to-net-assets ratio20% or less (fiscal year ending March 2029; target to be achieved in fiscal 2028)
PBRMoving away from a PBR below 1x
Financial targets
ROE
Target7.0% or more
Actual results10.5 %
PBR
TargetMoving away from a PBR below 1x
Actual results1.8 x
Cross-shareholdings-to-net-assets ratio
Target20% or less
Actual results31.3 %
Capital expenditures
¥8.8 100 million facility renovations, upgrades, etc.
Annual Dividend
¥90 /share
BreakdownIncluding a commemorative dividend of ¥10
Payout ratio
50 % or higher
DetailsProgressive dividends
Acquisition of treasury shares
Acquisition cost¥42.9 100 million
PeriodActual for the interim period of the fiscal year ending March 2027
| Item | Details |
|---|---|
| Document type | Results presentation |
| Fiscal Period Covered | Fiscal year ending March 2027, second quarter (first half) |
| Net Sales | 44,474 Million yen (YoY +11.1%) |
| Operating profit | 2,514 Million yen (YoY +15.5%) |
| Ordinary income | 3,112 Million yen (YoY +16.1%) |
| Net income | ¥4,709 million (interim net income attributable to owners of the parent) (YoY +43.3%) |
| Operating profit margin | 5.7 % |
| Full-year earnings forecast | Operating revenue 90,000 Million yen / Operating profit 5,300 Million yen / Ordinary income 6,000 Million yen / Profit attributable to owners of the parent 7,200 Million yen |
| Segment results | Logistics Business Operating revenue 41,524 Million yen (YoY +11.8%) / Operating profit 2,439 Million yen (YoY +31.5%) / Real Estate Business Operating revenue 3,066 Million yen (YoY -1.2%) / Operating profit 1,573 Million yen (YoY -3.5%) |
| Breakdown of Factors Affecting the Change | Factors Expansion and new business acquisition in the land transportation business / Amount 171 Million yen, Factors Strengthening the international business and improving margins through strong air export performance / Amount 166 Million yen, Factors Strengthening and expanding beverage logistics and high-mix, low-volume logistics / Amount 139 Million yen, Factors Collection of appropriate charges, including for ancillary transportation work / Amount 126 Million yen, Factors Improved utilization rates at newly established locations / Amount 114 Million yen, Factors Other, including strong performance in the port business / Amount 59 Million yen, Factors Higher personnel and other operating expenses / Amount -215 Million yen, Factors Maintaining transport capacity through appropriate compensation / Amount -68 Million yen, Factors Expenses associated with expanding locations / Amount -98 Million yen, Factors Other / Amount -58 Million yen |
| Key KPIs | Common Equity Ratio 54.4 %, Net DER (net debt-to-equity ratio) 0.3 x, Net Debt/EBITDA (interest-bearing debt ratio) 2.4 x, ROE 10.5 %, PBR 1.8 x |
| Medium-term management plan targets | ROE 7.0% or higher (fiscal year ending March 2027) / Cross-shareholdings-to-net-assets ratio 20% or less (fiscal year ending March 2029; target to be achieved in fiscal 2028) / PBR Moving away from a PBR below 1x |
| Financial targets | ROE Target 7.0% or more / Actual results 10.5 % / PBR Target Moving away from a PBR below 1x / Actual results 1.8 x / Cross-shareholdings-to-net-assets ratio Target 20% or less / Actual results 31.3 % |
| Annual Dividend | ¥90 /share |
| Payout ratio | 50 % or higher |
| Acquisition of treasury shares | Acquisition cost ¥42.9 100 million / Period Actual for the interim period of the fiscal year ending March 2027 |
| Capital expenditures | ¥8.8 100 million (facility renovations, upgrades, etc.) |
| New initiatives | Accelerating the reduction of cross-held shares, Allocating cash generated to growth investments and shareholder returns, Progressive dividends with a payout ratio of 50% or higher, Flexible Share Repurchases |
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 reasons for higher revenue and higher operating profit were strong performance across the logistics business, the consolidation of 澁澤ワールドトランスポート, improved utilization rates at each location, and progress in securing appropriate prices. For interim net profit, the company cited the recognition of a gain on the transfer of logistics facilities and the accelerated sale of cross-held shares as factors contributing to the increase in profit.
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.