Fushiki Kairiku Unso Co., Ltd. (9361) AI Stock Analysis

• Market Cap: ¥5.45B
• Dividend Yield: 3.02%
• Average Volume (3M): 476.00
• Price to Earnings (P/E): 7.5
• Beta (1Y): 0.33
• Revenue Growth: 7.54%
• EPS Growth: 44.72%
• Country: JP
• Employees: 699
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): 100.34
• Shares Outstanding: 2,615,400
• 10 Day Avg. Volume: 420
• 30 Day Avg. Volume: 476
• PEG Ratio: 0.14
• Price to Book (P/B): 0.37
• Price to Sales (P/S): 0.32
• P/FCF Ratio: 2.93
• 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: 78 Outperform
• Price Target: ¥2,492.00 ▲(15.91% Upside)

The score is driven primarily by solid financial performance—especially strong cash flow generation and improving margins—supported by attractive valuation (low P/E and a ~2.7% dividend yield). Technicals are also positive with price above major moving averages and a positive MACD, while balance-sheet debt levels remain the main offsetting risk.

Positive Factors

Strong cash generation

The company converts reported earnings into cash at a high rate (OCF/NI 3.09, FCF/NI 2.14), supporting durable self-funding for capex, dividends and debt service. Reliable cash conversion increases financial resilience through shipping cycles and funds strategic investments without heavy external financing.

Revenue recovery and margin improvement

A return to positive top-line growth with improving gross and net margins indicates operational recovery and some pricing or efficiency gains. Sustained revenue and margin improvement strengthens cash flow potential and supports reinvestment in logistics capabilities, enhancing medium-term competitiveness.

Improved leverage and balanced capital structure

Lowered leverage (D/E 0.44) and a roughly 50% equity ratio signal a more balanced capital structure, improving financial flexibility. This reduces refinancing risk and preserves capacity for targeted investments or cyclical downturns, supporting longer-term stability in a capital-intensive shipping business.

Negative Factors

Total debt remains a notable risk

Despite improved ratios, the company explicitly notes total debt as a notable risk. In cyclical marine shipping, elevated absolute debt can magnify stress during freight downturns through fixed interest and principal obligations, constraining strategic options and increasing default vulnerability.

Thin net margin

A modest net margin (~5%) provides limited buffer against cost shocks common in shipping (fuel, labor, fuel surcharges lag). Low absolute profitability reduces retained earnings for reinvestment and makes returns sensitive to small revenue or cost swings, limiting durable capital formation.

Operational margin volatility

Reported fluctuations in EBIT/EBITDA margins point to operational or market-driven variability. Persistent margin variability undermines earnings predictability and planning, complicating investment and fleet allocation decisions and increasing the chance that short-term shocks impair medium-term profitability.

Fushiki Kairiku Unso Co., Ltd. Business Overview & Revenue Model

Company Description

Fushiki Kairiku Unso Co.,Ltd. provides port transportation services in Japan. The company engages in warehousing, maritime transportation, irregular route business, shipping agency, customs brokerage, packing, industrial waste collection and transportation, air transport agency, and measurement certification businesses, as well as business related to contracting and guarantee of the security. It also offers freight transportation, coastal shipping operation, freight truck transportation, non-life insurance agency, and automobile liability insurance agency services; and real estate lending and automobile disassembly maintenance services. In addition, the company processes and sells carbon materials, hydrogen peroxide, and groceries. Further, the company engages in the investment; worker dispatch; and restaurant business. Fushiki Kairiku Unso Co.,Ltd. was incorporated in 1944 and is headquartered in Takaoka, Japan.

How the Company Makes Money

Fushiki Kairiku Unso generates revenue primarily through its logistics and transportation services, which include freight charges for shipping goods, fees for cargo handling, and charges for supply chain management solutions. The company may also earn income from long-term contracts with businesses that require regular shipping services. Key revenue streams include container shipping fees, which are influenced by global shipping rates, and additional charges for value-added services. Partnerships with other logistics providers and shipping lines enhance their service offerings and expand their market reach, contributing to overall earnings. Additionally, the company could benefit from fluctuations in demand for shipping services, which can impact pricing and revenue generation.

Fushiki Kairiku Unso Co., Ltd. Financial Statement Overview

Summary

Overall fundamentals are solid: revenue returned to growth (4.49%) and profitability improved (gross margin 17.27%, net margin 5.07%). Cash flow is a key strength with strong operating cash generation versus net income (OCF/NI 3.09) and healthy free cash flow efficiency (FCF/NI 2.14). Balance sheet leverage is improved (debt-to-equity 0.44) and equity ratio is stable (49.61%), though total debt remains a notable risk.

Income Statement

Fushiki Kairiku Unso Co., Ltd. has shown a positive revenue growth rate of 4.49% in the latest year, indicating a recovery from previous declines. The gross profit margin has improved to 17.27%, and the net profit margin increased to 5.07%, reflecting enhanced profitability. However, the EBIT and EBITDA margins have seen slight fluctuations, suggesting some operational challenges.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.44, indicating better leverage management. Return on equity stands at 5.85%, showing moderate profitability. The equity ratio is stable at 49.61%, suggesting a balanced capital structure. However, the total debt remains significant, posing potential risks if not managed carefully.

Cash Flow

The operating cash flow has significantly increased, and the free cash flow growth rate is notably high. The operating cash flow to net income ratio is robust at 3.09, indicating strong cash generation relative to net income. The free cash flow to net income ratio is 2.14, reflecting efficient cash utilization. Overall, the cash flow position is strong, supporting future investments and debt servicing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	13.45B	13.45B	12.94B	13.07B	12.21B	12.35B
Gross Profit	2.32B	2.32B	1.92B	2.50B	1.99B	1.66B
EBITDA	1.97B	2.02B	1.65B	1.92B	1.69B	1.50B
Net Income	682.84M	682.97M	468.22M	688.41M	412.60M	392.20M
Balance Sheet
Total Assets	23.52B	23.52B	23.05B	22.38B	22.22B	22.61B
Cash, Cash Equivalents and Short-Term Investments	3.01B	3.01B	2.55B	2.58B	2.35B	2.38B
Total Debt	5.18B	5.18B	5.99B	5.71B	6.33B	7.21B
Total Liabilities	10.63B	10.63B	10.85B	10.70B	11.21B	11.96B
Stockholders Equity	11.67B	11.67B	11.05B	10.57B	9.94B	9.63B
Cash Flow
Free Cash Flow	0.00	1.46B	-244.25M	1.01B	760.01M	-483.28M
Operating Cash Flow	0.00	2.11B	1.15B	1.65B	1.36B	1.04B
Investing Cash Flow	0.00	-736.72M	-1.26B	-664.14M	-288.50M	-1.44B
Financing Cash Flow	0.00	-944.94M	107.72M	-757.71M	-1.09B	-111.78M

Fushiki Kairiku Unso Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2150.00
• 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:9361, the sentiment is Positive. The current price of 2150 is above the 20-day moving average (MA) of 2122.15, above the 50-day MA of 1994.75, and above the 200-day MA of 1738.74, indicating a neutral trend. The MACD of 22.80 indicates Positive momentum. The RSI at 53.58 is Neutral, neither overbought nor oversold. The STOCH value of 40.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9361.

Fushiki Kairiku Unso Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9361	78 Outperform	¥5.45B	7.52	―	3.02%	7.54%	44.72%
9353	74 Outperform	¥3.79B	12.36	―	1.57%	12.51%	58.13%
9365	71 Outperform	¥2.34B	5.98	―	3.32%	7.26%	55.00%
9367	70 Outperform	¥19.98B	28.38	―	1.38%	7.07%	26.88%
9380	65 Neutral	¥11.58B	23.55	―	1.87%	-0.35%	11.44%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
9362	60 Neutral	¥4.25B	15.90	―	2.93%	0.09%	-44.81%