THE KEIHIN CO., LTD.
9312・Standard Market・Warehousing & Harbor Transportation Services
THE KEIHIN CO., LTD.
9312・Standard Market・Warehousing & Harbor Transportation Services
Business
Keihin Co., Ltd. is a comprehensive logistics company founded in 1947, forming a group comprising 14 consolidated subsidiaries and 1 affiliated company. In the Domestic Logistics Business, the company provides warehousing/storage, Distribution Processing, Land Transportation, home delivery, and marine container transport. In the International Logistics Business, it operates International Freight Forwarding, Air Freight Forwarding, Customs Clearance & Shipping Agency Services, and Port Operations. The company has local subsidiaries in Singapore, Hong Kong, Taiwan, the Philippines, and the United States, and also handles international logistics utilizing a global agency network. Its main customers are shipper companies in manufacturing, automotive, medical and pharmaceutical, food, and apparel industries, and it broadly meets logistics needs both domestically and internationally.
Business Model
In the Domestic Logistics Business, the company provides warehousing, distribution processing, and land transportation as an integrated service, receiving storage fees, cargo handling fees, and transportation fees on an ongoing basis. In the International Logistics Business, it offers combined through-transport services incorporating customs clearance, port operations, and air and ocean freight forwarding, generating revenue from fees and handling charges linked to cargo volume. As group companies share the actual work and transportation duties, with the parent company serving as the sales interface, the group as a whole builds up added value through a vertically integrated revenue structure.
Company Strengths
14 consolidated subsidiaries share responsibility for Warehousing, land transportation, port operations, air transport, customs clearance, and system development, while the parent company manages sales on a unified basis. In FY2026 (ending March 2025), the Domestic Logistics Business generated sales of ¥28,946 million and the International Logistics Business generated sales of ¥22,391 million, serving as twin growth engines. This enables integrated services that are difficult for single-function logistics companies to provide.
In the Domestic Logistics Business, the company has promoted expansion in the medical/pharmaceutical, food, and apparel fields, achieving Warehousing sales of ¥9,490 million, up 8.3% year on year. It maintains a handling scale of average monthly storage balance of 156 thousand tons and inbound volume of 1,289 thousand tons, giving it a stable base for accepting high-value-added cargo.
With local subsidiaries in Singapore, Hong Kong, Taiwan, the Philippines, and the United States, the company, in cooperation with global agents, achieved International Freight Forwarding volume of 1,671 thousand tons and exported vehicles of 128 thousand units (up 12.8% year on year). Port Operations sales rose 10.8% year on year to ¥2,041 million, also aided by a revision of cargo handling fees.
ENVALITH's Perspective
Performance Trend
Revenue moved from ¥54,108 million in FY2022 → ¥59,821 million in FY2023 (peak) → ¥46,520 million in FY2024 (sharp decline) → ¥50,452 million in FY2025 → ¥50,309 million in FY2026, remaining on a path of recovery following the FY2023 peak. As an external factor, surging ocean freight rates provided a tailwind in FY2023, but rates normalized in FY2024, causing a sharp drop. In FY2026, a renewed decline in ocean freight rates contributed to a decrease in International Logistics Business revenue (down 2.3% year on year), but an increase in Domestic Logistics Business volume and reductions in operating costs pushed operating profit to ¥3,427 million (up 18.2% year on year), the highest level in five years. Return on equity also improved from 7.5% to 7.9%. For FY2027, the company forecasts revenue of ¥51,000 million and operating profit of ¥3,500 million.
Growth Strategy
Aiming for sustainable growth through three pillars: conversion to high-value-added logistics, expansion of international logistics, and strengthening of group management foundations
Promoting expansion and upgrading of logistics facilities with the aim of expanding handling in the medical/pharmaceutical, food, and apparel sectors. In FY2026 (ending March 2026), acquired real estate for rent, etc. of ¥11,826 million, significantly strengthening the facility base. Also promoting labor savings and operational efficiency through the introduction of AI and robotics. Plans to open a new base in the Atsugi area of Kanagawa Prefecture.
Promoting stronger cooperation with global agents and service enhancement through the introduction of an integrated international logistics management system (international logistics DX). Also considering entry into new bases and strategic business alliances in the Asian region. In FY2026 (ending March 2026), revenue and profit declined due to decreased air cargo volumes and falling ocean freight rates, and headwinds from the external environment remain a challenge.
Aiming to build an organization that produces next-generation talent early through focused investment in overseas trainee programs and practical training. Also promoting workstyle reform and more efficient cost management through the use of DX. Thoroughly implementing management that is conscious of capital costs, and establishing a system to flexibly execute strategic investments while maintaining a sound financial balance.
The relocation of the Yamashita Wharf Distribution Center, associated with the Yokohama City Yamashita Wharf redevelopment project, was completed on April 30, 2026. In FY2027 (ending March 2027), plans are to record relocation compensation, etc. of ¥1,884 million as extraordinary gains and demolition costs of ¥385 million as extraordinary losses. The next steps will be the utilization of the vacated site after relocation and the transfer of functions to the new base.
Last updated: July 19, 2026