Chuo Warehouse Co.,Ltd.
9319・Prime Market・Warehousing & Harbor Transportation Services
Chuo Warehouse Co.,Ltd.
9319・Prime Market・Warehousing & Harbor Transportation Services
Business
Chuo Warehouse Co., Ltd. is a comprehensive logistics company founded in 1927, operating three segments: Domestic Logistics Business (Warehousing and Transportation), International Freight Business (Packing Business and Customs Brokerage), and Real Estate Leasing Business. Headquartered in Kyoto, the company maintains a network of bases across the Kinki, Chubu, Hokuriku, Kanto, and Chugoku regions, handling a wide variety of cargo including chemical industry raw materials, precision machinery, and food products. Consolidated operating revenue stood at ¥28,029 million (FY2026 (ending March 2026)), with the Domestic Logistics Business accounting for approximately 80% of the total. The company is listed on the TSE Prime Market. Its main customers are shipper companies centered on manufacturing industries such as chemical, machinery, and food manufacturers, and it provides integrated supply chain support ranging from warehousing to customs brokerage, packing, and transportation.
Business Model
In the Warehousing business, the company receives cargo deposits from shippers and continuously collects storage fees and handling fees, while in Transportation, it earns transport revenue through freight forwarding and motor carrier operations. The International Freight Business combines export packing of precision machinery with import/export customs brokerage, extending to International Multimodal Transport. The Real Estate Leasing Business is centered on fixed rental income and functions as a highly profitable complementary segment with an operating margin of 42.5%. The company aims to maintain and improve profitability through appropriate pricing and diversification of handled items.
Company Strengths
Since its founding in 1927, the company has expanded its network of locations nationwide, including Kyoto, Shiga, Osaka, Nagoya, Hokuriku, Tokyo, and Okayama. It has obtained various certifications and licenses at multiple locations, including bonded warehouses, AEO warehouse operator status, AEO customs broker status, ISO9001, and ISMS, creating regulatory compliance capability and quality control systems that serve as barriers to competitive entry.
The company has continuously expanded its handling volume of chemical industry raw materials such as recycled PET resin, achieving import/export handling volume of 641 thousand tons (up 4.3% year on year) in Customs Brokerage (including International Multimodal Transport) in FY2026 (ending March 2026). Increased new orders for imported chemical products such as general-purpose resins pushed operating revenue from Customs Brokerage (including International Multimodal Transport) up 7.7% year on year, reflecting an accumulated track record of handling in the circular economy business domain.
As of the end of FY2026 (ending March 2026), the capital adequacy ratio stood at 76.6%, net assets were ¥49,089 million, and net assets per share were ¥2,723.51. With low dependence on interest-bearing debt, the company maintains financial flexibility to fund growth investments, such as the construction of a new warehouse in Ama City, Aichi Prefecture, through a combination of internal funds and long-term borrowings.
ENVALITH's Perspective
Performance Trend
Operating revenue rose for 5 consecutive fiscal periods, from ¥23,932 million in FY2022 (ending March 2022) to ¥28,029 million in FY2026 (ending March 2026) (average annual growth rate of approximately 4%). Operating profit declined for the first time in 2 periods to ¥2,051 million (down 6.3% year on year) due to increases in personnel expenses and outsourcing costs. However, ordinary profit was supported by an increase in dividend income received (¥373 million, versus ¥282 million in the prior period), limiting the decline to ¥2,395 million (down 1.6% year on year). Profit attributable to owners of parent recovered substantially to ¥2,068 million (up 30.2% year on year), owing to the disappearance of prior-period special losses (valuation loss on investment securities of ¥165 million and loss on sale of shares of affiliated companies of ¥31 million) and the recognition of a gain on sale of investment securities of ¥506 million. In the external environment, sluggish cargo movement, rising fuel costs, and labor shortages have continued, and efforts to defend revenue through rate optimization have been successful.
Growth Strategy
Under the 8th Medium-Term Management Plan "NEXT CS-100," the company is promoting the expansion of circular-economy business, the enhancement of its logistics network, and improvements in capital efficiency.
Construction commenced in FY2026 (ending March 2026), with construction in progress increasing to ¥2,373 million, accounting for the majority of the ¥3,062 million in expenditures for acquisition of property, plant and equipment. The commencement of operations at the new facility will strengthen the logistics network in the Nagoya area and expand the revenue base of the Domestic Logistics Business.
The Nagoya Sales Office is scheduled to commence operations from February 2027. In conjunction with the expansion of the Kyushu base, the company will expand its domestic sales area beyond the Kansai region and promote the acquisition of business leveraging the Group network. Upfront costs associated with the opening have already been incorporated into the earnings forecast for FY2027 (ending March 2027).
The company is promoting the acquisition of trading areas for its recycling and circular-economy business, leveraging its track record in handling PET resin, as well as expanding its import handling of chemical industrial raw materials such as general-purpose resins. Operating revenue from Customs Brokerage (including International Multimodal Transport) in FY2026 (ending March 2026) reached ¥3,357 million (up 7.7% year on year), continuing its expansion.
In April 2025, a Mechanical & Engineering Section was newly established within the Shiga Branch to strengthen the operational structure for mechanical and engineering services, including the transport and installation of large and precision machinery. The company is also working on in-depth sales activities and new customer development to expand its handling of advanced technology-related cargo.
During the 8th Medium-Term Management Plan period (FY2025-FY2027), the basic policy is progressive dividends, maintaining or increasing the previous year's dividend amount. The annual dividend for FY2026 (ending March 2026) is ¥38 (up ¥2 year on year), and the forecast for FY2027 (ending March 2027) is ¥42 (up ¥4 year on year). The company also conducted share buybacks totaling ¥929 million, raising net assets per share to ¥2,723.51.
Last updated: July 19, 2026