Chuo Warehouse Co., Ltd. (9319) AI Stock Analysis

• Market Cap: ¥32.84B
• Dividend Yield: 2.59%
• Average Volume (3M): 43.56K
• Price to Earnings (P/E): 17.6
• Beta (1Y): 0.48
• Revenue Growth: 4.02%
• EPS Growth: 18.12%
• Country: JP
• Employees: 701
• Sector: Industrials
• Sector Strength: 72
• Industry: Specialty Business Services
• EPS (TTM): 19.34
• Shares Outstanding: 19,064,896
• 10 Day Avg. Volume: 29,720
• 30 Day Avg. Volume: 43,560
• PEG Ratio: -3.05
• Price to Book (P/B): 0.58
• Price to Sales (P/S): 0.96
• P/FCF Ratio: 13.63
• 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: 65 Neutral
• Price Target: ¥1,900.00 ▲(32.68% Upside)
• Action: Downgraded Date: 02/11/26
• Date: Action: Downgraded 02/11/26

The score is driven primarily by steady profitability and a strong, low-leverage balance sheet, offset by weak/volatile free cash flow. Technicals are supportive with the stock trading above major moving averages, but overbought indicators temper the outlook. Valuation appears reasonable (P/E ~17.3) with a moderate dividend yield (~2.11%).

Positive Factors

Conservative balance sheet

Very low leverage (debt-to-equity ~0.16) and rising equity provide durable financial flexibility. This conservatism supports capital spending on warehouses, cushions cyclical volume swings, and lowers refinancing risk, enabling steadier operations and strategic investment over months.

Improving margins

Margins have expanded versus prior years (gross ~11.5%, operating ~9.8%, net ~6.5%), reflecting better pricing or cost control. Sustained margin improvement boosts durable earnings power independent of top-line volatility and increases cash generation potential when revenues normalize.

Recurring service revenue

Core revenues derive from recurring warehousing, handling and value-added fees tied to customer inventory and throughput. This service-based model produces predictable, contract-linked cash flows and long-term client relationships that support steady utilization and planning.

Negative Factors

Weak/volatile free cash flow

TTM free cash flow turned slightly negative even with positive reported earnings, indicating profits aren't reliably converting to cash after investments. Persistent or recurring FCF volatility constrains organic funding for growth, dividends, or debt reduction over months.

Stagnant revenue trend

Revenue is essentially flat to slightly down (about -0.6% TTM), limiting operating leverage. In logistics, sustained volume growth is key to fixed-cost absorption; continued stagnation curbs long-term margin expansion and makes profitability gains harder to scale.

Modest returns on equity

A TTM ROE of roughly 4% signals only modest efficiency converting equity into profits. While conservative balance-sheet positioning reduces risk, persistently low ROE can limit long-term shareholder value creation and make reinvestment less accretive compared with higher-return peers.

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

Company Description

Chuo Warehouse Co.,Ltd. provides various logistics services in Japan and internationally. The company offers warehousing and transportation services; and international services, including cargo handling, storage, transportation, distribution processing, customs clearance, packaging, and information processing services. It is also involved in the packing and processing of packaging materials; leasing, brokerage, management, and sale of real estate; and non-life insurance agency business. In addition, the company offers freight car transportation, automobile and cargo handling machine repair, and industrial waste treatment services. Chuo Warehouse Co.,Ltd. was founded in 1927 and is headquartered in Kyoto, Japan.

How the Company Makes Money

Chuo Warehouse generates revenue primarily through its logistics services, which include warehousing, transportation, and distribution. The company charges clients for storage space, handling fees, and transportation services, creating a diversified revenue model. Key revenue streams include long-term contracts with businesses that require ongoing logistics support, as well as one-time project fees for specific logistics needs. Additionally, the company may engage in partnerships with manufacturers and retailers to provide integrated logistics solutions, which can enhance its service offerings and drive additional revenue. Factors contributing to its earnings include the growing demand for efficient supply chain management, the rise of e-commerce, and strategic investments in technology to improve operational efficiency.

Chuo Warehouse Co., Ltd. Financial Statement Overview

Summary

Profitability is steady with improved margins versus prior years and a conservative, low-leverage balance sheet (debt-to-equity ~0.16). However, cash conversion is a notable weakness as TTM free cash flow is slightly negative despite positive earnings, indicating volatility in investment/working-capital needs.

Income Statement

TTM (Trailing-Twelve-Months) revenue is essentially flat to down (about -0.6%) versus the prior year, but profitability remains steady: gross margin ~11.5%, operating margin ~9.8%, and net margin ~6.5%. Over the last several years the company has expanded from lower margin levels (gross margin ~9.5% in 2021; operating margin ~7.6% in 2021) to more consistent profitability, though growth has been uneven and the latest period shows a softer top-line trajectory.

Balance Sheet

The balance sheet looks conservatively positioned with low leverage: TTM (Trailing-Twelve-Months) debt is modest relative to equity (debt-to-equity ~0.16) and equity has grown over time. Returns are positive but not high (TTM return on equity ~4.0%), suggesting solid stability but only moderate efficiency in generating profits from the capital base.

Cash Flow

Cash generation is the key weak spot. TTM (Trailing-Twelve-Months) operating cash flow is positive, but free cash flow turned slightly negative, and free cash flow as a share of net income is negative—indicating profits are not currently translating into cash after investment needs. This contrasts with the prior annual period where free cash flow was strongly positive, pointing to volatility likely driven by swings in investment or working-capital needs.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	27.91B	27.84B	26.51B	25.87B	23.93B	25.93B
Gross Profit	3.20B	3.32B	2.93B	3.04B	2.75B	2.47B
EBITDA	4.64B	4.38B	4.45B	4.19B	3.42B	3.39B
Net Income	1.80B	1.59B	1.70B	1.71B	1.35B	1.31B
Balance Sheet
Total Assets	62.04B	58.93B	58.02B	56.15B	53.31B	50.91B
Cash, Cash Equivalents and Short-Term Investments	7.72B	8.49B	8.45B	8.63B	7.93B	8.11B
Total Debt	7.47B	6.17B	6.84B	7.48B	6.92B	5.51B
Total Liabilities	13.92B	12.85B	12.41B	13.32B	12.06B	10.29B
Stockholders Equity	47.83B	45.79B	45.33B	42.57B	41.00B	40.39B
Cash Flow
Free Cash Flow	-115.22M	1.96B	839.05M	-256.86M	281.23M	601.16M
Operating Cash Flow	2.94B	4.12B	2.84B	4.08B	2.26B	2.90B
Investing Cash Flow	-2.37B	-2.05B	-1.35B	-3.23B	-1.92B	-2.39B
Financing Cash Flow	190.59M	-2.05B	-1.17B	350.58M	-516.74M	-136.85M

Chuo Warehouse Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1432.00
• 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:9319, the sentiment is Positive. The current price of 1432 is below the 20-day moving average (MA) of 1719.55, below the 50-day MA of 1616.72, and below the 200-day MA of 1436.69, indicating a bullish trend. The MACD of 23.75 indicates Positive momentum. The RSI at 58.10 is Neutral, neither overbought nor oversold. The STOCH value of 63.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9319.

Chuo Warehouse Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9307	78 Outperform	¥17.76B	18.41	―	1.49%	1.23%	0.12%
9324	66 Neutral	¥73.92B	19.47	―	2.18%	12.03%	30.12%
9319	65 Neutral	¥32.84B	17.64	―	2.59%	4.02%	18.12%
9325	65 Neutral	¥12.86B	15.13	―	2.63%	18.27%	-4.07%
9322	65 Neutral	¥22.80B	34.12	―	1.13%	3.37%	9.00%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
9313	56 Neutral	¥6.61B	21.11	―	2.29%	0.08%	105.25%

Chuo Warehouse Co., Ltd. Corporate Events

Chuo Warehouse Lifts Nine-Month Net Profit and Keeps Full-Year Outlook Intact

Chuo Warehouse Co., Ltd. reported consolidated operating revenues of ¥21.05 billion for the nine months to December 31, 2025, a slight 0.3% increase year on year, while operating profit fell 11.2% to ¥1.61 billion and ordinary profit declined 5.7% to ¥1.89 billion. Despite weaker profits at the operating level, profit attributable to owners of the parent rose 19.5% to ¥1.32 billion, boosted earnings per share to ¥72.11, and helped lift total assets and equity, reinforcing the group’s solid financial position with an equity ratio above 77%.

The company kept its full-year forecast unchanged, projecting modest revenue and profit growth for the year ending March 31, 2026, including a 13.3% rise in net profit to ¥1.8 billion and earnings per share of ¥97.90. It also plans to raise annual dividends from ¥36 to ¥38 per share, signaling confidence in cash generation and shareholder returns even as profit margins remain under pressure, while a higher level of treasury shares indicates ongoing capital management initiatives.

The most recent analyst rating on (JP:9319) stock is a Buy with a Yen1907.00 price target. To see the full list of analyst forecasts on Chuo Warehouse Co., Ltd. stock, see the JP:9319 Stock Forecast page.

Chuo Warehouse Progresses With Share Buyback, Acquires 65,700 Shares in January

Chuo Warehouse Co., Ltd. reported that it repurchased 65,700 of its own common shares on the Tokyo Stock Exchange between January 1 and January 31, 2026, for a total of ¥106,064,600, as part of a broader share buyback program authorized by its board in November 2025. Under this ongoing program, which runs through October 31, 2026 and allows for the repurchase of up to 890,000 shares or ¥1 billion, the company has cumulatively acquired 321,700 shares for ¥448,048,400 as of January 31, 2026, signaling continued efforts to enhance capital efficiency and shareholder returns through treasury share accumulation.

The most recent analyst rating on (JP:9319) stock is a Buy with a Yen1918.00 price target. To see the full list of analyst forecasts on Chuo Warehouse Co., Ltd. stock, see the JP:9319 Stock Forecast page.

Chuo Warehouse Reports Progress on Ongoing Share Buyback Program

Chuo Warehouse Co., Ltd. has reported the progress of its share buyback program, stating that it repurchased 58,800 of its own common shares on the Tokyo Stock Exchange between December 1 and December 31, 2025, for a total of ¥80,667,600. This buyback is part of a broader board-approved program, authorized in November 2025, that allows the company to acquire up to 890,000 shares or ¥1 billion through market purchases and off-auction transactions by October 31, 2026; as of December 31, 2025, cumulative repurchases under this mandate reached 256,000 shares for ¥341,983,800, signaling ongoing capital management efforts that may enhance shareholder value and optimize the company’s capital structure.

The most recent analyst rating on (JP:9319) stock is a Buy with a Yen1537.00 price target. To see the full list of analyst forecasts on Chuo Warehouse Co., Ltd. stock, see the JP:9319 Stock Forecast page.

Chuo Warehouse to Allocate Treasury Shares as Restricted Stock to Employee Shareholding Association

Chuo Warehouse will dispose of up to 32,808 treasury shares as restricted stock to its Employee Shareholding Association on March 13, 2026, at 1,415 yen per share, with the final number of shares and total amount (currently calculated at 46.4 million yen) to be set based on actual employee participation. The plan is designed to support asset formation for eligible employees of the company and its subsidiaries while tying their incentives more closely to corporate performance and shareholder value, thereby strengthening long-term engagement and aligning employee interests with those of existing shareholders through ongoing restricted stock grants funded by special monetary incentives contributed to the association.

The most recent analyst rating on (JP:9319) stock is a Buy with a Yen1537.00 price target. To see the full list of analyst forecasts on Chuo Warehouse Co., Ltd. stock, see the JP:9319 Stock Forecast page.

Chuo Warehouse Co., Ltd. Announces Share Repurchase Progress

Chuo Warehouse Co., Ltd. has announced the acquisition of 197,200 of its own common shares for a total price of 261,316,200 yen. This acquisition is part of a broader resolution by the Board of Directors to repurchase up to 890,000 shares, with a maximum expenditure of 1,000,000,000 yen, to be completed by October 31, 2026. The repurchase is conducted through the Tokyo Stock Exchange and its Off-Auction Own Share Repurchase Trading System.

The most recent analyst rating on (JP:9319) stock is a Hold with a Yen1531.00 price target. To see the full list of analyst forecasts on Chuo Warehouse Co., Ltd. stock, see the JP:9319 Stock Forecast page.