Maruzen Showa Unyu Co.,Ltd.

Business Details

Provides diverse logistics services including motor truck transportation, harbor transportation, warehousing, customs brokerage, packing, and ocean/air freight forwarding agency business. Operates domestic bases centered on the Kanto, Chubu, and Kansai regions, while maintaining a global network in the U.S., China, Singapore, and other locations. This is the core segment, accounting for ¥129,318 million (approximately 87.0% of the total) out of consolidated net sales of ¥148,603 million for FY2026 (ending March 2026). Includes the newly consolidated M&F Logistics Co., Ltd.

Recent Overview

Revenue up 3.0% and profit up 6.1% year on year, with major businesses contributing to the increase across nearly all sub-segments

In FY2026 (ending March 2026), Logistics Business net sales were ¥129,318 million (up 3.0% year on year), and segment profit was ¥13,427 million (up 6.1% year on year). While motor truck transportation, harbor transportation, and warehousing all saw revenue increases, rail-based transportation (due to decreased insulation material handling and snow damage) and logistics-related ancillary businesses (due to decreased ocean-going vessel and cargo handling revenue) saw revenue declines. Impairment losses, which were ¥2,670 million in the prior period, shrank sharply to ¥137 million in the current period, contributing to improved profitability. Capital expenditure (increase in tangible and intangible fixed assets) rose sharply to ¥7,763 million from ¥5,315 million in the prior period, marking the full-scale start of "proactive capital investment."

Key Products

Growth Drivers

• Major sub-segments including motor truck transportation, harbor transportation, and warehousing all achieved revenue growth, resulting in the Logistics Business as a whole achieving 3.0% revenue growth and 6.1% profit growth year on year (FY2026, ending March 2026)
• Air cargo handling volumes increased against a backdrop of expanding demand for semiconductor-related and other goods
• Strengthened network through the newly consolidated subsidiary M&F Logistics Co., Ltd., including increased flour handling
• Promotion of 3PL business expansion, global logistics expansion, and expansion of domestic and international logistics bases under the 9th Medium-Term Management Plan (FY2025-FY2027)
• Continued correction of freight rates to appropriate levels and operational efficiency improvements through construction of the next-generation core system
• Expansion of overseas warehousing business, including increased handling of fruits and vegetables in the U.S.

Risks

• Increased costs to address driver shortages and working-hour regulations (the "2024 problem") and persistently high fuel costs
• Continued sluggish cargo movement in automotive-related freight (both international and domestic), amid a slowdown in the overseas EV market and intensifying competition
• Uncertainty in international cargo due to slow global economic growth, stagnation in the Chinese economy, and geopolitical risks (Middle East situation, U.S. trade policy)
• Declining trend in total domestic transportation volume (sluggish growth in production- and construction-related cargo)
• Risk of natural disasters (such as snow damage) affecting rail-based transportation and volatility risk due to dependence on specific items
• Risk of declining handled volumes in logistics-related ancillary businesses (ocean-going vessel and cargo handling revenue)