Income Statement Shibusawa Logistics Corporation

Stocks

9304

JP3355600002

Ground Freight & Logistics

Delayed Japan Exchange 22:30:00 2026-09-24 EDT			5-day change	1st Jan Change
2,214.00 ^JPY	+3.26%		+5.13%	+73.65%

09-04	Tranche Update on Shibusawa Logistics Corporation's Equity Buyback Plan announced on August 7, 2026.	CI
08-31	Shibusawa Logistics Corporation's Equity Buyback announced on August 7, 2026, has closed with 742,700 shares, representing 1.31% for ¥1,499.98 million.	CI

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Published financial data: SHIBUSAWA LOGISTICS CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Revenues	71.46B	77.78B	70.88B	75.61B	77.12B
Other Revenues, Total	289M	724M	2.53B	3.01B	2.62B
Total Revenues	71.75B	78.5B	73.42B	78.62B	79.74B
Cost of Goods Sold, Total	63.79B	69.83B	65.16B	69.77B	71.06B
Gross Profit	7.95B	8.67B	8.26B	8.85B	8.68B
Selling General & Admin Expenses, Total	3.26B	3.64B	3.84B	4.03B	4.42B
Depreciation & Amortization - (IS)	176M	142M	145M	152M	161M
Other Operating Expenses, Total	3.44B	3.78B	3.99B	4.18B	4.58B
Operating Income	4.52B	4.9B	4.27B	4.67B	4.1B
Interest Expense, Total	-145M	-150M	-126M	-131M	-187M
Interest And Investment Income	415M	584M	685M	840M	798M
Net Interest Expenses	270M	434M	559M	709M	611M
Income (Loss) On Equity Invest.	2.01B	462M	200M	128M	102M
Other Non Operating Income (Expenses)	125M	55M	59M	76M	73M
EBT, Excl. Unusual Items	6.92B	5.85B	5.09B	5.58B	4.88B
Gain (Loss) On Sale Of Investments	-	300M	159M	1.5B	4.8B
Gain (Loss) On Sale Of Assets	-	-406M	159M	-	-362M
Asset Writedown	-128M	-406M	-	-	-285M
Other Unusual Items	-	0	-	-	-
EBT, Incl. Unusual Items	6.79B	5.33B	5.41B	7.08B	9.04B
Income Tax Expense	1.52B	1.52B	1.62B	2.1B	2.63B
Earnings From Continuing Operations	5.28B	3.81B	3.79B	4.98B	6.4B
Net Income to Company	5.28B	3.81B	3.79B	4.98B	6.4B
Minority Interest	-18M	-52M	-64M	-72M	-71M
Net Income - (IS)	5.26B	3.76B	3.73B	4.91B	6.33B
Net Income to Common Incl Extra Items	5.26B	3.76B	3.73B	4.91B	6.33B
Net Income to Common Excl. Extra Items	5.26B	3.76B	3.73B	4.91B	6.33B
Per Share Items
Net EPS - Basic	86.44	61.95	61.51	84.3	111.64
Basic EPS - Continuing Operations	86.44	61.95	61.51	84.3	111.64
Basic Weighted Average Shares Outstanding	60.82M	60.68M	60.61M	58.22M	56.73M
Net EPS - Diluted	86.44	61.95	61.51	84.3	111.64
Diluted EPS - Continuing Operations	86.44	61.95	61.51	84.3	111.64
Diluted Weighted Average Shares Outstanding	60.82M	60.68M	60.61M	58.22M	56.73M
Normalized Basic EPS	70.84	59.36	51.43	58.68	52.56
Normalized Diluted EPS	70.84	59.36	51.43	58.68	52.56
Dividend Per Share	17.5	21.25	25	35	56
Payout Ratio	16.19	32.32	36.67	34.78	39.63
Supplemental Items
EBITDA	7.66B	7.81B	7.06B	7.52B	7.12B
EBITA	4.52B	4.9B	4.27B	4.67B	4.1B
EBIT	4.52B	4.9B	4.27B	4.67B	4.1B
EBITDAR	7.74B	7.89B	7.14B	7.6B	7.21B
Effective Tax Rate - (Ratio)	22.36	28.55	29.88	29.68	29.13
Normalized Net Income	4.31B	3.6B	3.12B	3.42B	2.98B
Non-Cash Pension Expense	-2M	-4M	-5M	-35M	-67M
Supplemental Operating Expense Items
General and Administrative Expenses	242M	282M	270M	267M	265M
Net Rental Expense, Total	84M	82M	86M	85M	87M
Imputed Operating Lease Interest Expense	2.6M	2.65M	2.66M	3.09M	4.48M
Imputed Operating Lease Depreciation	81.4M	79.35M	83.34M	81.91M	82.52M

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Assets
Cash And Equivalents	18.23B	22.27B	12.48B	11.83B	11.3B
Short Term Investments	3B	3B	-	-	-
Total Cash And Short Term Investments	21.23B	25.27B	12.48B	11.83B	11.3B
Accounts Receivable, Total	12.97B	13.14B	13.33B	13.85B	13.95B
Total Receivables	12.97B	13.14B	13.33B	13.85B	13.95B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	2.9B	2.95B	2.65B	3.2B	2.64B
Total Current Assets	37.09B	41.37B	28.45B	28.88B	27.89B
Net Property Plant And Equipment	49.64B	50.29B	56.06B	57.48B	55.79B
Long-term Investments	20.77B	22.93B	27.06B	29.55B	34.02B
Other Intangibles, Total	1.08B	971M	956M	1.2B	1.25B
Loans Receivable Long-Term	280M	150M	150M	150M	21M
Deferred Tax Assets Long-Term	100M	109M	75M	127M	294M
Deferred Charges Long-Term	28M	16M	11M	47M	36M
Other Long-Term Assets, Total	2M	2M	2M	2M	2M
Total Assets	109B	116B	113B	117B	119B
Liabilities
Accounts Payable, Total	6.09B	5.82B	5.77B	5.97B	5.97B
Accrued Expenses, Total	705M	756M	772M	814M	882M
Short-term Borrowings	2.06B	2.42B	2.23B	1.74B	1.57B
Current Portion of Long-Term Debt	3.69B	10.57B	2.62B	2.83B	9.11B
Current Portion of Leases	110M	128M	62M	93M	81M
Current Income Taxes Payable	932M	840M	834M	1.5B	1.68B
Other Current Liabilities	2.16B	2.73B	4.54B	3.28B	3.27B
Total Current Liabilities	15.74B	23.26B	16.83B	16.24B	22.55B
Long-Term Debt	30.14B	24.4B	22.37B	25.44B	16.83B
Long-Term Leases	319M	352M	125M	225M	162M
Pension & Other Post Retirement Benefits	2.31B	2.4B	2.28B	1.55B	2.11B
Deferred Tax Liability Non Current	1.19B	1.73B	2.64B	3.28B	3.82B
Other Non Current Liabilities	5.64B	5.81B	5.9B	5.38B	5.39B
Total Liabilities	55.34B	57.96B	50.15B	52.12B	50.86B
Common Stock, Total	7.85B	7.85B	7.85B	7.85B	7.85B
Additional Paid In Capital	6.39B	6.44B	6.45B	6.45B	7.04B
Retained Earnings	34.3B	36.85B	39.21B	42.41B	46.23B
Treasury Stock	-24M	-134M	-131M	-2.49B	-3.68B
Comprehensive Income and Other	4.82B	6.07B	8.37B	10.16B	10.94B
Total Common Equity	53.33B	57.07B	61.74B	64.38B	68.37B
Minority Interest	320M	799M	890M	953M	70M
Total Equity	53.65B	57.87B	62.62B	65.33B	68.44B
Total Liabilities And Equity	109B	116B	113B	117B	119B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	60.82M	60.61M	57.98M	57.58M	57.51M
ECS Total Common Shares Outstanding	60.82M	60.61M	60.62M	57.58M	56.93M
Book Value / Share	876.92	941.64	1.02K	1.12K	1.2K
Tangible Book Value	52.25B	56.1B	60.78B	63.18B	67.12B
Tangible Book Value Per Share	859.11	925.62	1K	1.1K	1.18K
Total Debt	36.31B	37.87B	27.41B	30.33B	27.75B
Net Debt	15.08B	12.6B	14.93B	18.5B	16.46B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.31B	2.39B	2.26B	1.53B	1.78B
Debt Equivalent Oper. Leases	672M	656M	688M	680M	696M
Minority Interest, Total (Incl. Fin. Div)	320M	799M	890M	953M	70M
Full Time Employees	1.2K	1.32K	1.29K	1.29K	1.32K
Accumulated Allowance for Doubtful Accounts (Supple)	10M	8M	3M	4M	1M

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Net Income	6.8B	5.34B	5.41B	7.08B	9.04B
Depreciation & Amortization - CF	3.14B	2.92B	2.79B	2.85B	3.02B
Depreciation & Amortization, Total	3.14B	2.92B	2.79B	2.85B	3.02B
(Gain) Loss From Sale Of Asset	124M	397M	-201M	4M	300M
(Gain) Loss on Sale of Investments - (CF)	8M	-	-159M	-1.5B	-4.8B
(Income) Loss On Equity Investments - (CF)	-2.01B	-462M	-200M	-128M	-102M
Other Operating Activities, Total	-1.26B	-1.71B	-1.47B	-1.51B	-2.41B
Change In Accounts Receivable	-783M	353M	-147M	-484M	-99M
Change In Accounts Payable	593M	-505M	-67M	175M	-6M
Change in Other Net Operating Assets	-577M	404M	-119M	-139M	801M
Cash from Operations	6.03B	6.73B	5.83B	6.35B	5.74B
Capital Expenditure	-650M	-1.22B	-6.51B	-6.14B	-1.74B
Sale of Property, Plant, and Equipment	33M	21M	286M	23M	27M
Cash Acquisitions	-	27M	-	-	-
Sale (Purchase) of Intangible assets	-215M	-90M	-134M	-374M	-387M
Investment in Marketable and Equity Securities, Total	-37M	-1.55B	-713M	475M	2.42B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	64M	129M	-	-
Other Investing Activities, Total	1M	1M	-	1M	-1M
Cash from Investing	-868M	-2.74B	-6.94B	-6.01B	317M
Short Term Debt Issued, Total	-	248M	-	-	-
Long-Term Debt Issued, Total	7.3B	4.3B	600M	5.86B	500M
Total Debt Issued	7.3B	4.55B	600M	5.86B	500M
Short Term Debt Repaid, Total	-296M	-	-183M	-490M	-172M
Long-Term Debt Repaid, Total	-9.71B	-5.06B	-10.59B	-2.62B	-2.83B
Total Debt Repaid	-10B	-5.06B	-10.77B	-3.11B	-3B
Repurchase of Common Stock	-	-110M	-	-2.36B	-1.56B
Common Dividends Paid	-851M	-1.22B	-1.37B	-1.71B	-2.51B
Common & Preferred Stock Dividends Paid	-851M	-1.22B	-1.37B	-1.71B	-2.51B
Other Financing Activities, Total	-130M	-203M	-148M	-98M	-101M
Cash from Financing	-3.69B	-2.04B	-11.68B	-1.41B	-6.67B
Foreign Exchange Rate Adjustments	59M	227M	19M	47M	-6M
Miscellaneous Cash Flow Adjustments	156M	-1M	1M	-	1M
Net Change in Cash	1.69B	2.18B	-12.78B	-1.03B	-620M
Supplemental Items
Cash Interest Paid	143M	150M	130M	129M	187M
Cash Income Tax Paid (Refund)	1.28B	1.68B	1.58B	1.59B	2.54B
Levered Free Cash Flow	3.54B	4.6B	624M	-2.25B	4.01B
Unlevered Free Cash Flow	3.63B	4.69B	703M	-2.17B	4.13B
Change In Net Working Capital	1.47B	-26M	-1.89B	1.42B	-676M
Net Debt Issued / Repaid	-2.7B	-507M	-10.17B	2.75B	-2.5B

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Profitability
Return on Assets	2.65	2.72	2.34	2.54	2.16
Return on Total Capital	3.19	3.29	2.87	3.14	2.67
Return On Equity %	10.35	6.83	6.29	7.78	9.57
Return on Common Equity	10.39	6.81	6.28	7.78	9.54
Margin Analysis
Gross Profit Margin %	11.08	11.05	11.25	11.26	10.88
SG&A Margin	4.55	4.63	5.23	5.13	5.54
EBITDA Margin %	10.67	9.95	9.61	9.56	8.93
EBITA Margin %	6.29	6.24	5.82	5.94	5.14
EBIT Margin %	6.29	6.24	5.82	5.94	5.14
Income From Continuing Operations Margin %	7.35	4.85	5.16	6.33	8.03
Net Income Margin %	7.33	4.79	5.08	6.24	7.94
Net Avail. For Common Margin %	7.33	4.79	5.08	6.24	7.94
Normalized Net Income Margin	6	4.59	4.25	4.35	3.74
Levered Free Cash Flow Margin	4.93	5.86	0.85	-2.86	5.03
Unlevered Free Cash Flow Margin	5.06	5.98	0.96	-2.76	5.18
Asset Turnover
Asset Turnover	0.67	0.7	0.64	0.68	0.67
Fixed Assets Turnover	1.42	1.57	1.38	1.38	1.41
Receivables Turnover (Average Receivables)	5.74	5.96	5.36	5.56	5.55
Short Term Liquidity
Current Ratio	2.36	1.78	1.69	1.78	1.24
Quick Ratio	2.17	1.65	1.53	1.58	1.12
Operating Cash Flow to Current Liabilities	0.38	0.29	0.35	0.39	0.25
Days Sales Outstanding (Average Receivables)	63.56	61.26	68.34	65.6	65.8
Average Days Payable Outstanding	32.64	31.12	32.54	30.71	30.66
Long Term Solvency
Total Debt/Equity	67.68	65.44	43.77	46.43	40.55
Total Debt / Total Capital	40.36	39.56	30.44	31.71	28.85
LT Debt/Equity	56.77	42.78	35.92	39.29	24.83
Long-Term Debt / Total Capital	33.86	25.86	24.99	26.83	17.67
Total Liabilities / Total Assets	50.77	50.04	44.47	44.38	42.63
EBIT / Interest Expense	31.14	32.63	33.9	35.64	21.91
EBITDA / Interest Expense	52.81	52.07	56.02	57.38	38.09
(EBITDA - Capex) / Interest Expense	48.32	43.96	4.36	10.53	28.76
Total Debt / EBITDA	4.74	4.85	3.88	4.03	3.9
Net Debt / EBITDA	1.97	1.61	2.12	2.46	2.31
Total Debt / (EBITDA - Capex)	5.18	5.74	49.93	21.99	5.16
Net Debt / (EBITDA - Capex)	2.15	1.91	27.2	13.41	3.06
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	9.82	9.42	-6.48	7.09	1.42
Gross Profit, 1 Yr. Growth %	12.92	9.04	-4.77	7.18	-1.95
EBITDA, 1 Yr. Growth %	12.77	2.01	-9.64	6.5	-5.25
EBITA, 1 Yr. Growth %	24.51	8.39	-12.73	9.29	-12.23
EBIT, 1 Yr. Growth %	24.51	8.39	-12.73	9.29	-12.23
Earnings From Cont. Operations, 1 Yr. Growth %	89	-27.75	-0.5	31.33	28.59
Net Income, 1 Yr. Growth %	91.16	-28.5	-0.82	31.65	29.03
Normalized Net Income, 1 Yr. Growth %	76.87	-16.4	-13.45	9.61	-12.74
Diluted EPS Before Extra, 1 Yr. Growth %	91.16	-28.33	-0.72	37.05	32.44
Accounts Receivable, 1 Yr. Growth %	8.78	1.36	1.4	3.92	0.75
Net Property, Plant and Equip., 1 Yr. Growth %	-3.37	1.32	11.48	2.54	-2.94
Total Assets, 1 Yr. Growth %	4.4	6.28	-2.64	4.14	1.58
Tangible Book Value, 1 Yr. Growth %	12.24	7.37	8.34	3.94	6.25
Common Equity, 1 Yr. Growth %	11.33	7.01	8.17	4.28	6.21
Cash From Operations, 1 Yr. Growth %	-13.22	11.54	-13.38	8.94	-9.57
Capital Expenditures, 1 Yr. Growth %	-80.13	87.23	434.84	-5.7	-71.6
Levered Free Cash Flow, 1 Yr. Growth %	161.7	30.08	-86.43	-460.39	-278.44
Unlevered Free Cash Flow, 1 Yr. Growth %	152.63	29.41	-85.02	-408.37	-290.57
Dividend Per Share, 1 Yr. Growth %	34.62	21.43	17.65	40	60
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	3.61	9.62	1.16	0.07	4.22
Gross Profit, 2 Yr. CAGR %	3.07	10.96	1.9	1.03	2.51
EBITDA, 2 Yr. CAGR %	5.63	7.26	-3.99	-1.9	0.45
EBITA, 2 Yr. CAGR %	7.53	16.17	-2.74	-2.34	-2.06
EBIT, 2 Yr. CAGR %	7.53	16.17	-2.74	-2.34	-2.06
Earnings From Cont. Operations, 2 Yr. CAGR %	35.41	16.85	-15.21	14.31	29.95
Net Income, 2 Yr. CAGR %	36.63	16.91	-15.79	14.27	30.34
Normalized Net Income, 2 Yr. CAGR %	30.05	21.6	-14.94	-2.6	-2.2
Diluted EPS Before Extra, 2 Yr. CAGR %	36.63	17.05	-15.65	16.65	34.73
Accounts Receivable, 2 Yr. CAGR %	3.19	5	1.38	2.65	2.33
Net Property, Plant and Equip., 2 Yr. CAGR %	-2.9	-1.05	6.28	6.91	-0.24
Total Assets, 2 Yr. CAGR %	4.93	5.33	1.72	0.69	2.85
Tangible Book Value, 2 Yr. CAGR %	11.76	9.78	7.85	6.12	5.09
Common Equity, 2 Yr. CAGR %	10.71	9.15	7.59	6.21	5.24
Cash From Operations, 2 Yr. CAGR %	-2.93	-1.62	-1.71	-2.86	-0.75
Capital Expenditures, 2 Yr. CAGR %	-64.07	-39	216.45	124.58	-48.25
Levered Free Cash Flow, 2 Yr. CAGR %	808.26	84.5	-57.99	-30.07	153.59
Unlevered Free Cash Flow, 2 Yr. CAGR %	414.1	80.81	-55.98	-32.04	142.42
Dividend Per Share, 2 Yr. CAGR %	18.32	27.85	19.52	28.34	49.67
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	3.56	5.51	3.97	3.1	0.52
Gross Profit, 3 Yr. CAGR %	2.79	5.02	5.45	3.63	0.02
EBITDA, 3 Yr. CAGR %	4.92	4.41	1.3	-0.61	-3.03
EBITA, 3 Yr. CAGR %	6.5	7.81	5.61	1.12	-5.75
EBIT, 3 Yr. CAGR %	6.5	7.81	5.61	1.12	-5.75
Earnings From Cont. Operations, 3 Yr. CAGR %	31.05	9.82	10.76	-1.9	18.89
Net Income, 3 Yr. CAGR %	32.26	10.11	10.67	-2.26	18.99
Normalized Net Income, 3 Yr. CAGR %	21.12	12.24	8.57	-7.44	-6.11
Diluted EPS Before Extra, 3 Yr. CAGR %	32.26	10.19	10.8	-0.83	21.69
Accounts Receivable, 3 Yr. CAGR %	2.09	2.57	3.79	2.22	2.02
Net Property, Plant and Equip., 3 Yr. CAGR %	-0.64	-1.51	2.96	5.02	3.52
Total Assets, 3 Yr. CAGR %	3.57	5.38	2.61	2.52	0.99
Tangible Book Value, 3 Yr. CAGR %	9.08	10.28	9.3	6.53	6.16
Common Equity, 3 Yr. CAGR %	8.04	9.46	8.82	6.47	6.21
Cash From Operations, 3 Yr. CAGR %	6.66	1.67	-5.7	1.72	-5.15
Capital Expenditures, 3 Yr. CAGR %	-26.03	-37.71	25.78	111.37	12.72
Levered Free Cash Flow, 3 Yr. CAGR %	-9.49	375.19	-22.7	-14	-4.44
Unlevered Free Cash Flow, 3 Yr. CAGR %	-9.47	224.6	-21.18	-15.77	-4.17
Dividend Per Share, 3 Yr. CAGR %	15.02	19.35	24.36	25.99	38.13
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	4.32	4.4	2.59	3.3	4.07
Gross Profit, 5 Yr. CAGR %	3.33	4.31	2.43	3.4	4.26
EBITDA, 5 Yr. CAGR %	4.86	4.64	1.26	1.84	0.96
EBITA, 5 Yr. CAGR %	5.8	7.85	2.7	3.63	2.47
EBIT, 5 Yr. CAGR %	5.8	7.85	2.7	3.63	2.47
Earnings From Cont. Operations, 5 Yr. CAGR %	24.06	17.94	10.1	11.6	18.07
Net Income, 5 Yr. CAGR %	24.56	18.54	10.41	11.75	18.16
Normalized Net Income, 5 Yr. CAGR %	15.56	19.19	5.15	6.05	4.13
Diluted EPS Before Extra, 5 Yr. CAGR %	24.57	18.59	10.49	12.73	19.81
Accounts Receivable, 5 Yr. CAGR %	3.74	1.79	1.8	2.61	3.2
Net Property, Plant and Equip., 5 Yr. CAGR %	-0.7	0.13	2.07	1.77	1.67
Total Assets, 5 Yr. CAGR %	2.74	3.63	2.83	3.48	2.7
Tangible Book Value, 5 Yr. CAGR %	6.3	7.18	8.59	8.59	7.59
Common Equity, 5 Yr. CAGR %	5.48	6.34	7.86	8.15	7.37
Cash From Operations, 5 Yr. CAGR %	1.04	10.39	3.23	-0.17	-3.75
Capital Expenditures, 5 Yr. CAGR %	-9.16	-3.43	32.3	4.04	-11.83
Levered Free Cash Flow, 5 Yr. CAGR %	0.03	26.33	-33.42	120.79	24.33
Unlevered Free Cash Flow, 5 Yr. CAGR %	-0.48	24.1	-32.15	73.66	23.54
Dividend Per Share, 5 Yr. CAGR %	11.84	13.56	16.8	22.87	33.92