HIGASHI HOLDINGS CO.,LTD.
9029・Standard Market・Land Transportation
Business
Higashi Holdings Co., Ltd. is a holding company (transitioned to holding company structure in April 2025) for a comprehensive logistics group founded in 1944. Centered on its Transportation Business and Warehousing Business, the group operates a wide range of businesses including Office Relocation & Moving, In-Building Delivery, Precision Equipment Transportation Service, Reverse Logistics Business, IT-related operations, Merchandise Sales Business, Welfare Business (welfare equipment rental), parking, and staffing dispatch. Its major customers include Amazon Japan G.K. (22.1% of net sales) along with other major e-commerce operators, steel mills, home appliance manufacturers, and major infrastructure companies. The company maintains a nationwide network of logistics facilities centered on the Greater Tokyo, Kinki, and Chubu regions, and consolidated net sales for FY2026 (ending March 2026) reached ¥57,973 million.
Business Model
The core of earnings is a fulfillment-type model centered on large-scale 3PL centers for major EC operators (Kawanishi, Nagareyama, etc.), under which storage, distribution processing, and transportation are handled on an integrated contract basis. By leveraging shared infrastructure such as logistics facilities, vehicles, and personnel, the company cross-sells into peripheral businesses—Merchandise Sales Business (packaging materials, ICT equipment), Welfare Business, IT-related operations, and others—to diversify revenue. The company also continues to expand its group through M&A.
Company Strengths
The company has successively opened large 3PL centers such as the Kawanishi Logistics Center (opened August 2024, total floor area of 21,866 tsubo) and the Nagareyama Logistics Center (warehouse area of 29,533 tsubo, expanded floor space came online in May 2026). Sales to Amazon Japan G.K. reached ¥12,812 million (22.1% of net sales), establishing the company's position as a major outsourcing partner for large-scale EC logistics.
In April 2025, the company transitioned to a holding company structure, building a management framework focused on strengthening group governance and strategic investment. Through continuous M&A activity, including Neo Competence (made a subsidiary in June 2024) and Peerless (made a subsidiary in June 2025), the company has expanded into the ICT and digital solutions domain.
The company operates five segments: Transportation Business, Warehousing Business, Merchandise Sales Business, Welfare Business, and Other (parking, staffing, digital solutions, etc.). In FY2026 (ending March 2026), all segments achieved growth in both revenue and profit. By avoiding excessive dependence on any single business while sharing a common logistics infrastructure, the company has achieved efficient diversification.
ENVALITH's Perspective
Performance Trend
In FY2026 (ending March 2026), revenue reached ¥57,972 million (up 20.5% year on year), operating profit reached ¥4,044 million (up 47.6% year on year), and profit attributable to owners of parent reached ¥2,602 million (up 44.1% year on year), setting new record highs at every profit level. The operating margin improved significantly to 7.0% (from 5.7% in the previous period), and ROE rose to 17.6% (from 14.0% in the previous period), reflecting substantial improvement in profitability metrics. The main drivers were the rapid expansion of the Warehousing Business (segment profit up 66.1%) driven by the full-scale operation of the Kawanishi Logistics Center, growth in the Office Relocation & Moving Business and In-Building Delivery Business, and the full-year consolidation effect of Neo Competence. Externally, solid trends in logistics demand provided a tailwind, while rising fuel costs due to higher crude oil prices (interest expense also increased, from ¥32 million to ¥70 million year on year) exerted some downward pressure.
Growth Strategy
Pursuing sustained growth through expansion of 3PL operations for major e-commerce clients, M&A, and the upward revision of the Medium-Term Management Plan 2028
Following the full-scale operation of the Kawanishi Logistics Center (opened August 2024), the expanded portion of the Nagareyama Logistics Center (warehouse floor area: 29,533 tsubo) is scheduled to begin operations in May 2026. The company aims to expand revenue in both the Warehousing and Transportation segments through increased handling volume for major e-commerce clients and expanded transportation operations.
Through the consolidation of Peerless Co., Ltd. (acquired June 2025), the company has established an integrated service structure covering design, deployment, and operation/maintenance in ICT equipment deployment services. It expects revenue contribution from expanded transactions at Peerless leveraging the group's business locations and customer base, along with a full-year contribution from FY2027 (ending March 2027) onward.
Because the initial final-year targets (net sales of ¥55.0 billion and ordinary profit of ¥3.5 billion) were exceeded in the plan's first year (FY2026, ending March 2026), the final-year targets were revised upward to net sales of ¥61.0 billion, ordinary profit of ¥4.4 billion, and dividend per share of ¥66. Response to the NEXT GIGA School Program and continued reviews toward appropriate pricing are also expected to contribute to earnings improvement.
The annual dividend for FY2026 (ending March 2026) was increased to ¥60 per share (from ¥42 in the previous fiscal year), maintaining a dividend payout ratio of 30.1%. For FY2027 (ending March 2027), the company plans to further increase the dividend to ¥62 per share, continuing its stable shareholder return policy linked to profit growth.
Last updated: July 19, 2026