AZ-COM MARUWA Holdings Inc.
9090・Prime Market・Land Transportation
Logistics Business
Core 3PL and delivery segment centered on EC, cold chain food, and pharmaceutical & medical logistics
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment sales (full year) | ¥227,377 million | ¥205,598 million | ↑ |
| Segment profit (full year) | ¥11,650 million | ¥11,318 million | ↑ |
| Segment profit margin (full year) | 5.1% | 5.5% | ↓ |
| Depreciation and amortization (full year) | ¥3,343 million | ¥2,556 million | ↑ |
| Goodwill amortization (full year) | ¥569 million | ¥442 million | ↑ |
Business Details
A reporting segment built on two pillars: logistics center operations (3PL) and delivery services. Specializing in three domains—EC ambient, cold chain food, and pharmaceutical & medical—the segment provides end-to-end supply chain logistics from center operations to trunk transportation and last-one-mile delivery. In FY2026 (ending March 2026), net sales were ¥227,377 million (up 10.6% year on year) and segment profit was ¥11,650 million (up 2.9% year on year). Despite one-time costs related to the launch of new logistics centers and consolidation, increases in cargo volume and the number of operating vehicles, along with a rise in contracts reflecting rate revisions, more than offset these costs, resulting in increased revenue and profit.
Recent Overview
Increased revenue and profit driven by new logistics center operations and progress on rate revisions, though margin declined
In FY2026 (ending March 2026), the segment achieved increased revenue and profit, with net sales of ¥227,377 million (up 10.6% year on year) and segment profit of ¥11,650 million (up 2.9% year on year). While costs related to the launch of new logistics centers, including AZ-COM Matsubushi EAST, and one-time costs associated with the consolidation of existing centers weighed on profit, these were offset by increases in cargo volume and the number of operating vehicles, an increase in contracts reflecting company-wide rate revisions, and productivity improvement initiatives. Segment profit margin declined from 5.5% to 5.1%. An impairment loss of ¥545 million was recorded (as an extraordinary loss) related to customer-related assets of M・K Logi Co., Ltd. due to a review of transactions with a specific client.
Key Products
Growth Drivers
- Opening and full-year operation of new logistics centers for major e-commerce companies against a backdrop of continued EC market expansion (EC Ambient 3PL Business up 14.9% year on year)
- Expansion of the Cold Chain Food and Pharmaceutical & Medical 3PL businesses through the opening of new logistics centers for supermarkets and drugstores
- Improved earnings from an increase in contracts reflecting company-wide rate revisions (pass-through of appropriate freight rates)
- Strengthened delivery capabilities through collaboration with partner companies leveraging the AZ-COM Network (EC Ambient Delivery Business up 14.6% year on year)
- Promotion of labor and workforce savings in the 3PL business through operational standardization and DX implementation
Risks
- Margin pressure from one-time costs associated with the opening and consolidation of new logistics centers (depreciation and amortization expanded 30.8% year on year to ¥3,343 million)
- Rising energy costs, including fuel prices, associated with the escalation of tensions in Iran
- Constraints on business expansion due to truck driver shortages amid a declining birthrate and aging population
- Risk of transaction review with specific shippers (an impairment loss of ¥545 million was recorded at M・K Logi Co., Ltd.)
- Decline in sales in the Last One Mile Business due to structural changes such as the transfer of certain businesses (down 1.1% year on year)
- Continued rise in various costs, including labor costs
Last updated: June 17, 2026