The Shibusawa Warehouse Co., Ltd.

9304・Prime Market・Warehousing & Harbor Transportation Services

9304・Prime Market・Warehousing & Harbor Transportation Services

The Shibusawa Warehouse Co., Ltd.9304

Reference Indicators

Market Cap

1,300¥100M

P/E (Forecast)

—

P/B

1.8x

Dividend Yield (Forecast)

3.28%

ROE

9.5%

EV/EBITDA

20.5x

Financial Summary

Unit: ¥M

Item	2022Mar 2022	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026
Net Sales	71,746	78,504	73,417	78,620	79,740
Gross Profit	7,953	8,671	8,257	8,850	8,678
SG&A Expenses	3,437	3,777	3,986	4,182	4,580
Operating Income	4,516	4,894	4,271	4,668	4,097
Non-operating Income	2,636	1,187	1,062	1,161	1,029
Non-operating Expenses	227	233	241	246	268
Ordinary Income	6,924	5,847	5,091	5,583	4,858
Extraordinary Income	—	301	350	1,500	4,799
Extraordinary Losses	128	813	32	—	620
Pre-tax Income	6,796	5,335	5,409	7,083	9,036
Income Taxes	1,519	1,523	1,616	2,102	2,632
Net Income	5,257	3,759	3,728	4,908	6,333
EBITDA	7,657	7,810	7,057	7,516	7,121
Gross Margin	11.1%	11.0%	11.2%	11.3%	10.9%
Operating Margin	6.3%	6.2%	5.8%	5.9%	5.1%
ROA	4.8%	3.2%	3.3%	4.2%	5.3%
ROE	10.4%	6.8%	6.3%	7.8%	9.5%

Segment Performance

Unit: ¥M

2026

Segment	Net Sales	Operating Income	Operating Margin
物流事業	73,960	3,663	5.0%
不動産事業	5,780	3,134	54.2%

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