Shibusawa Warehouse Co., Ltd. (9304) AI Stock Analysis

• Market Cap: ¥78.99B
• Dividend Yield: 3.48%
• Average Volume (3M): 116.34K
• Price to Earnings (P/E): 13.4
• Beta (1Y): 0.58
• Revenue Growth: 4.17%
• EPS Growth: 24.54%
• Country: JP
• Employees: 1,289
• Sector: Industrials
• Sector Strength: 72
• Industry: Integrated Freight & Logistics
• EPS (TTM): 25.91
• Shares Outstanding: 60,870,987
• 10 Day Avg. Volume: 114,710
• 30 Day Avg. Volume: 116,336
• PEG Ratio: 0.26
• Price to Book (P/B): 0.73
• Price to Sales (P/S): 0.60
• P/FCF Ratio: 222.47
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: ¥1,425.00 ▲(11.76% Upside)

Shibusawa Warehouse Co., Ltd. receives a score of 69, driven by strong technical indicators and a solid valuation. The company's financial performance shows operational efficiency but is hindered by declining revenue growth and cash flow concerns. The absence of earnings call and corporate events data limits further insights.

Positive Factors

Operational margins

Sustained healthy EBIT and EBITDA margins indicate durable operational efficiency in core warehousing and logistics. High margins support reinvestment in automation, absorb pricing pressure from clients, and preserve cash available for capex and strategic initiatives over multiple business cycles.

Balance-sheet stability

A stable balance sheet and moderate leverage provide financial flexibility to fund network maintenance, selective expansion, or technology upgrades without excessive refinancing risk. Manageable debt levels enhance resilience to demand swings and support long-term strategic execution.

Recurring contract revenues

Material exposure to long-term contracts creates revenue predictability and customer stickiness in a capital-intensive logistics business. Stable contracted cash flows improve forecasting, justify infrastructure investments, and reduce volatility versus spot-only operators over the medium term.

Negative Factors

Revenue growth deceleration

A slowing top-line trajectory constrains the company's ability to scale fixed-cost efficiencies and may limit margin expansion over time. Persistent revenue deceleration can reduce pricing power, impede investment in capacity or tech, and weaken competitive positioning in a consolidating logistics market.

Weak cash conversion / FCF

Negative free cash flow growth and a low operating-cash-flow-to-net-income ratio signal difficulty converting profits into spendable cash. This undermines the firm's ability to self-fund capex, deleverage, or return capital, potentially forcing dependence on external financing during downturns.

Limited investor communications

The absence of earnings-call disclosure reduces transparency and investor visibility into strategy, execution, and forward-looking priorities. Over the medium term this can impair market confidence, complicate capital allocation assessment, and limit constructive engagement on growth or restructuring plans.

Shibusawa Warehouse Co., Ltd. Business Overview & Revenue Model

Company Description

The Shibusawa Warehouse Co., Ltd. provides logistics and warehousing services in Japan and internationally. The company provides strategic logistics services, such as warehousing and distribution processing for various type of cargo; truck transportation services, including consolidated transportation, chartered transportation, and ocean freight container transportation for customer's logistics; and ocean and air import and export handling services comprising customs clearance, overland transport, and warehouse storage at departure and arrival ports and airports, as well as multimodal transportation services by land, sea, and air. It is also involved in customs clearance; EC fulfillment services; trade/intermediary business/management/leading of real estate; packaging/indication/storage of pharmaceuticals/quasi-drugs/cosmetics and medical equipment; planning/development/sales/operation management of information systems; employment agency; and livelihood support of non-covered long-term care insurance. The Shibusawa Warehouse Co., Ltd. was founded in 1897 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Shibusawa Warehouse generates revenue primarily through its warehousing and logistics services. The company charges clients for storage space, handling services, and transportation of goods. Key revenue streams include long-term contracts with major retailers and manufacturers, which provide stable income, as well as short-term agreements with e-commerce businesses that require flexible storage solutions. Additionally, Shibusawa Warehouse benefits from partnerships with shipping companies and logistics providers, which enhance its service offerings and broaden its market reach. The company's ability to optimize operations and adopt technological advancements also contributes to its profitability by reducing costs and improving service efficiency.

Shibusawa Warehouse Co., Ltd. Financial Statement Overview

Summary

Shibusawa Warehouse Co., Ltd. demonstrates operational efficiency with healthy EBIT and EBITDA margins. However, declining revenue growth and cash flow management issues, such as negative free cash flow growth, are concerns. The balance sheet remains stable with manageable leverage.

Income Statement

Shibusawa Warehouse Co., Ltd. shows a mixed performance in its income statement. The company has a healthy EBIT and EBITDA margin, indicating operational efficiency. However, the recent TTM data shows a decline in revenue growth rate, which is a concern. The net profit margin remains stable, but the negative revenue growth trajectory could impact future profitability.

Balance Sheet

The balance sheet of Shibusawa Warehouse Co., Ltd. reflects a stable financial position with a moderate debt-to-equity ratio, suggesting manageable leverage. The return on equity is decent, indicating effective use of equity to generate profits. However, the equity ratio is not explicitly calculated, which could provide additional insights into the company's financial stability.

Cash Flow

The cash flow statement reveals some challenges, particularly with the negative free cash flow growth in the TTM period. The operating cash flow to net income ratio is relatively low, suggesting potential issues in converting income into cash. The negative free cash flow to net income ratio further highlights cash flow management concerns.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	79.08B	78.62B	73.42B	78.50B	71.74B	65.33B
Gross Profit	8.44B	8.70B	8.26B	8.67B	7.95B	7.04B
EBITDA	10.06B	10.06B	8.32B	8.40B	10.08B	7.44B
Net Income	5.55B	4.91B	3.73B	3.76B	5.26B	2.75B
Balance Sheet
Total Assets	116.95B	117.45B	112.77B	115.83B	108.99B	104.40B
Cash, Cash Equivalents and Short-Term Investments	11.21B	11.83B	12.48B	25.27B	21.23B	20.29B
Total Debt	29.33B	30.33B	27.41B	37.87B	36.31B	38.63B
Total Liabilities	51.24B	52.11B	50.15B	57.96B	55.34B	56.15B
Stockholders Equity	64.73B	64.38B	61.73B	57.07B	53.33B	47.91B
Cash Flow
Free Cash Flow	1.44B	212.00M	-814.00M	5.42B	5.17B	3.52B
Operating Cash Flow	5.97B	6.35B	5.83B	6.73B	6.03B	6.95B
Investing Cash Flow	-2.93B	-6.01B	-6.94B	-2.74B	-868.00M	-3.29B
Financing Cash Flow	-2.84B	-1.41B	-11.69B	-2.04B	-3.69B	1.36B

Shibusawa Warehouse Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1275.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9304, the sentiment is Neutral. The current price of 1275 is below the 20-day moving average (MA) of 1313.80, above the 50-day MA of 1250.88, and above the 200-day MA of 1078.29, indicating a neutral trend. The MACD of 14.37 indicates Positive momentum. The RSI at 52.31 is Neutral, neither overbought nor oversold. The STOCH value of 24.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:9304.

Shibusawa Warehouse Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9306	80 Outperform	¥13.72B	9.17	―	3.04%	4.45%	29.58%
9381	78 Outperform	¥52.60B	17.07	―	3.98%	10.52%	7.14%
9310	75 Outperform	¥78.32B	12.48	―	3.63%	2.67%	18.02%
9351	73 Outperform	¥13.86B	9.81	―	3.85%	4.96%	38.47%
9304	69 Neutral	¥78.99B	13.37	―	3.48%	4.17%	24.54%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
9369	57 Neutral	¥74.15B	28.30	―	0.99%	4.26%	―

Shibusawa Warehouse Co., Ltd. Corporate Events

Shibusawa Logistics to Make Two Logistics Units Wholly Owned via Simplified Share Exchange

Shibusawa Logistics Corporation has resolved to convert its consolidated subsidiaries Omiya Transport Co., Ltd. and Heiwa Mirai Co., Ltd. into wholly owned subsidiaries via a simplified share exchange, as part of its “Shibusawa 2030 Vision” to become a value-creating logistics partner and strengthen its business domains. By unifying ownership and streamlining strategic decision-making across these regional transport and warehousing units, the group aims to respond more swiftly to changes in the business environment, enhance overall group capabilities, and improve corporate value, while using treasury stock for the share consideration and managing fractional and sub-unit shareholdings in line with Japan’s Companies Act.

The most recent analyst rating on (JP:9304) stock is a Hold with a Yen1304.00 price target. To see the full list of analyst forecasts on Shibusawa Warehouse Co., Ltd. stock, see the JP:9304 Stock Forecast page.

Shibusawa Logistics Updates Financials and Dividend Outlook for Fiscal 2026

Shibusawa Logistics Corporation has revised its full-year consolidated financial forecast for the fiscal year ending March 2026 due to extraordinary income arising from gains on investment securities related to a tender offer for Fujitec Co., Ltd. While accounting for potential losses linked to dismantling aging facilities, the revised forecast reflects optimism in the company’s net income growth. Additionally, the company announced an increase in its annual dividend payout, emphasizing a progressive dividends policy and a focus on shareholder returns. These revisions reinforce the company’s commitment to growth investment and rewarding stakeholders.

The most recent analyst rating on (JP:9304) stock is a Hold with a Yen1304.00 price target. To see the full list of analyst forecasts on Shibusawa Warehouse Co., Ltd. stock, see the JP:9304 Stock Forecast page.

Shibusawa Logistics Gains Extraordinary Income from Fujitec Share Sale

Shibusawa Logistics Corporation announced the successful completion of a tender offer for its shares in Fujitec Co., Ltd., resulting in the sale of all 564,700 shares at a price of 5,700 yen each, totaling 3,218,790,000 yen. This transaction will record an extraordinary income of 2,658 million yen in the company’s Q3 financial results for the fiscal year ending March 2026, potentially impacting future earnings forecasts.

The most recent analyst rating on (JP:9304) stock is a Hold with a Yen1304.00 price target. To see the full list of analyst forecasts on Shibusawa Warehouse Co., Ltd. stock, see the JP:9304 Stock Forecast page.

Shibusawa Logistics to Record Extraordinary Income from Fujitec Share Sale

Shibusawa Logistics Corporation has decided to tender all its shares in Fujitec Co., Ltd. in a tender offer by Bospolder 1 Corporation, expecting to record extraordinary income in Q3 of the fiscal year ending March 2026. This decision, supported by Fujitec’s Board, is anticipated to result in a gain of 2,658 million yen, although the full impact on the company’s earnings forecast is still under review.

The most recent analyst rating on (JP:9304) stock is a Buy with a Yen5009.00 price target. To see the full list of analyst forecasts on Shibusawa Warehouse Co., Ltd. stock, see the JP:9304 Stock Forecast page.

Shibusawa Logistics Revises Financial and Dividend Forecasts for FY 2026

Shibusawa Logistics Corporation has revised its full-year consolidated financial forecast for the fiscal year ending March 2026, citing strong performance in its land transportation business and contributions from new facilities. The company also announced an increase in its dividend forecast, reflecting its commitment to shareholder returns and proactive growth investments.

The most recent analyst rating on (JP:9304) stock is a Buy with a Yen5009.00 price target. To see the full list of analyst forecasts on Shibusawa Warehouse Co., Ltd. stock, see the JP:9304 Stock Forecast page.

Shibusawa Logistics Increases Interim Dividends Amid Strong Performance

Shibusawa Logistics Corporation announced an increase in interim dividends, raising the dividend per share from the previous forecast of 90 yen to 96 yen, effective December 1, 2025. This decision reflects the company’s policy of progressive dividends and is based on current business performance and future outlook, aiming to maintain a dividend payout ratio of 50% or more.

The most recent analyst rating on (JP:9304) stock is a Buy with a Yen5009.00 price target. To see the full list of analyst forecasts on Shibusawa Warehouse Co., Ltd. stock, see the JP:9304 Stock Forecast page.

Shibusawa Logistics Reports Mixed Financial Results and Dividend Revision

Shibusawa Logistics Corporation reported its consolidated financial results for the six months ended September 30, 2025, showing a slight increase in operating revenues by 1.2% year-on-year. Despite the revenue growth, the company experienced declines in operating and ordinary profits by 18.7% and 14.4%, respectively. However, profit attributable to owners of the parent increased by 24.2%. The company also announced a revision in its dividend forecast for the fiscal year ending March 31, 2026, reflecting a stock split conducted on October 1, 2025. This announcement indicates a strategic adjustment in financial planning, potentially impacting shareholder returns and market perception.

The most recent analyst rating on (JP:9304) stock is a Buy with a Yen5009.00 price target. To see the full list of analyst forecasts on Shibusawa Warehouse Co., Ltd. stock, see the JP:9304 Stock Forecast page.