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Shibusawa Warehouse Co., Ltd.
(9304)
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Rating:69Neutral
Price Target:
¥2,082.00
▲(20.56% Upside)
Action:Downgraded
Date:08/10/26
The score is driven primarily by solid but not flawless financial performance: profitability and ROE have improved, while revenue growth is modest and cash conversion has been inconsistent. Technicals are a meaningful positive, with the stock trading above all key moving averages and healthy (not overextended) momentum. Valuation is supportive, combining a reasonable P/E with a near-3% dividend yield.
Positive Factors
Improving ROE and profitability
ROE rising to about 11% signals durable gains in capital productivity and profitability versus prior years. For an asset-heavy logistics operator, sustained ROE improvement implies management is extracting more value from invested capital, supporting reinvestment, dividends, or deleveraging over the medium term.
Negative Factors
Modest and uneven revenue growth
Revenue growth is very modest and cyclical, including a prior decline in FY2024. Reliance on efficiency and mix to drive profits rather than consistent top-line expansion limits scalability, pricing power and long-term margin expansion, making earnings sensitive to demand swings.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving ROE and profitability
ROE rising to about 11% signals durable gains in capital productivity and profitability versus prior years. For an asset-heavy logistics operator, sustained ROE improvement implies management is extracting more value from invested capital, supporting reinvestment, dividends, or deleveraging over the medium term.
Read all positive factors
Shibusawa Warehouse Co., Ltd. (9304) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥121.11B
Dividend Yield2.82%
Average Volume (3M)116.34K
Price to Earnings (P/E)15.0
Beta (1Y)0.49
Revenue Growth1.86%
EPS Growth50.49%
CountryJP
Employees1,320
SectorGeneral
Sector StrengthN/A
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)133.01
Shares Outstanding60,870,987
10 Day Avg. Volume114,710
30 Day Avg. Volume116,336
Financial Highlights & Ratios
PEG Ratio0.36
Price to Book (P/B)1.09
Price to Sales (P/S)0.94
P/FCF Ratio18.71
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Shibusawa Warehouse Co., Ltd. Business Overview & Revenue Model
Company Description
Operating both domestically in Japan and across global markets, The Shibusawa Warehouse Co., Ltd. specializes in comprehensive logistics and storage solutions. Its core offerings encompass strategic logistical support, including advanced warehousi...
How the Company Makes Money
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Shibusawa Warehouse Co., Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 80.65B | 79.74B | 78.62B | 73.42B | 78.50B | 71.75B |
| Gross Profit | 8.87B | 8.52B | 8.70B | 8.11B | 8.53B | 7.78B |
| EBITDA | 7.32B | 7.12B | 7.52B | 7.06B | 7.81B | 7.66B |
| Net Income | 7.51B | 6.33B | 4.91B | 3.73B | 3.76B | 5.26B |
Balance Sheet | ||||||
| Total Assets | 128.88B | 119.30B | 117.45B | 112.77B | 115.83B | 108.99B |
| Cash, Cash Equivalents and Short-Term Investments | 12.94B | 11.30B | 11.83B | 12.48B | 25.27B | 21.23B |
| Total Debt | 32.46B | 27.75B | 30.33B | 27.41B | 37.87B | 36.31B |
| Total Liabilities | 56.96B | 50.86B | 52.11B | 50.14B | 57.96B | 55.33B |
| Stockholders Equity | 71.83B | 68.37B | 64.38B | 61.74B | 57.07B | 53.34B |
Cash Flow | ||||||
| Free Cash Flow | 4.24B | 4.00B | 212.00M | -680.00M | 5.51B | 5.38B |
| Operating Cash Flow | 6.13B | 5.74B | 6.35B | 5.83B | 6.73B | 6.03B |
| Investing Cash Flow | -1.64B | 317.00M | -6.01B | -6.94B | -2.74B | -868.00M |
| Financing Cash Flow | -3.73B | -6.67B | -1.41B | -11.69B | -2.04B | -3.69B |
Shibusawa Warehouse Co., Ltd. Technical Analysis
Positive
1727.00
Price Trends
1777.92
Positive
1568.12
Positive
1400.69
Positive
Market Momentum
58.33
Negative
61.75
Neutral
82.78
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9304, the sentiment is Positive. The current price of 1727 is below the 20-day moving average (MA) of 1876.00, below the 50-day MA of 1777.92, and above the 200-day MA of 1400.69, indicating a bullish trend. The MACD of 58.33 indicates Negative momentum. The RSI at 61.75 is Neutral, neither overbought nor oversold. The STOCH value of 82.78 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9304.
Shibusawa Warehouse Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥92.49B | 12.85 | ― | 3.42% | 0.89% | 13.66% | |
69 Neutral | ¥121.11B | 14.95 | ― | 3.24% | 1.86% | 50.49% | |
68 Neutral | ¥306.71B | 15.49 | ― | 2.94% | 2.02% | 4.43% | |
66 Neutral | ¥533.91B | 12.41 | 14.67% | 2.81% | -3.94% | 16.95% | |
66 Neutral | ¥14.49B | 9.62 | ― | 3.85% | 7.78% | 20.28% | |
60 Neutral | ¥257.29B | 21.55 | ― | 1.28% | 6.16% | 11.10% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:9304
Shibusawa Warehouse Co., Ltd.
1,989.00
895.39
81.87%
JP:9301
Mitsubishi Logistics
1,510.50
299.52
24.73%
JP:9302
MITSUI-SOKO HOLDINGS Co., Ltd.
3,308.00
-956.63
-22.43%
JP:9303
Sumitomo Warehouse Co., Ltd.
4,160.00
1,137.95
37.65%
JP:9310
Japan Transcity Corporation
1,403.00
242.67
20.91%
JP:9351
Toyo Wharf & Warehouse Co., Ltd.
1,905.00
444.64
30.45%
Shibusawa Warehouse Co., Ltd. Corporate Events
Shibusawa Logistics Launches Share Buyback and Sets Treasury Share Cancellation
Aug 7, 2026
Shibusawa Logistics Corporation has resolved to acquire up to 0.8 million shares of its own common stock, representing about 1.42% of its outstanding shares, for a maximum of 1.5 billion yen through market purchases on the Tokyo Stock Exchange bet...
Shibusawa Logistics Delivers Strong Q1 Earnings and Confirms Robust FY2027 Outlook
Aug 7, 2026
Shibusawa Logistics reported consolidated operating revenues of ¥20.93 billion for the three months ended June 30, 2026, up 4.5% year on year, with operating profit rising 18.2% to ¥1.19 billion and ordinary profit climbing 25.6% to ...
Shibusawa Logistics Raises Earnings and Dividend Forecasts on Strong Logistics and Subsidiary Gains
Jul 30, 2026
Shibusawa Logistics Corporation has revised upward its consolidated earnings and dividend forecasts for the fiscal year ending March 31, 2027, reflecting stronger-than-expected performance. The company now projects higher operating revenue, operat...
Shibusawa Logistics Completes ¥2.8 Billion Share Buyback on TSE Prime
Jul 27, 2026
Shibusawa Logistics Corporation has completed a share buyback program, acquiring 1,304,800 shares of its common stock through market purchases on the Tokyo Stock Exchange between July 1 and July 22, 2026, for a total of approximately ¥2.49 bi...
Shibusawa Logistics Launches TSE Buyback Under 2.8 Billion Yen Program
Jul 3, 2026
Shibusawa Logistics Corporation has begun executing a share buyback program authorized by its board on May 22, 2026, acquiring 211,300 shares of common stock for 313,187,500 yen between June 1 and June 30 through market purchases on the Tokyo Stoc...
Shibusawa Logistics Launches Share Buyback and Cancellation to Boost Capital Efficiency
May 22, 2026
Shibusawa Logistics Corporation has approved a share buyback of up to 1.6 million shares, or 2.76% of its outstanding stock excluding treasury shares, with a maximum outlay of 2.8 billion yen through market purchases on the Tokyo Stock Exchange be...
Shibusawa Logistics to Acquire Meitetsu World Transport in Global Expansion Push
May 11, 2026
Shibusawa Logistics Corporation has resolved to acquire all shares of Meitetsu World Transport Co., Ltd. from Nagoya Railroad Co., Ltd., converting it into a wholly owned subsidiary and rebranding it as Shibusawa World Transport later in May 2026....
Shibusawa Logistics Overhauls Management Structure to Strengthen Operations
May 11, 2026
Shibusawa Logistics Corporation has announced a broad reshuffle of its leadership, including board members and executive officers, effective May 29, 2026 and late June 2026. The changes reassign key roles across its logistics, international busine...
Shibusawa Logistics Raises Year-End Dividend and Lifts Payout Outlook
May 11, 2026
Shibusawa Logistics Corporation has approved an increase in its year-end dividend for the fiscal year ended March 31, 2026, raising the payout by 2 yen to 32 yen per share compared with its previous forecast. The total dividend outlay will rise to...
Shibusawa Logistics Sets FY2026 Outlook and Emphasizes Shareholder Returns
May 11, 2026
Shibusawa Logistics Corporation released explanatory materials for its fiscal year ending March 2026, outlining consolidated operating results, segment performance, cash flow and balance sheet status, and factors affecting operating profit. The co...
Shibusawa Logistics lifts earnings and dividends despite profit margin squeeze
May 11, 2026
Shibusawa Logistics reported a 1.4% year-on-year increase in operating revenues to ¥79.7 billion for the fiscal year ended March 31, 2026, while operating and ordinary profits declined by double digits due to margin pressure. Despite this, pr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.