KANTSU CO.,LTD.
9326・Growth Market・Warehousing & Harbor Transportation Services
Business
Kantsu Co., Ltd. is a logistics outsourcing company founded in 1983. Its core business is the "EC & Mail-Order Logistics Support Service," which handles delivery center operations such as receiving, inventory management, and shipping on behalf of EC and mail-order businesses, with the Logistics Services business accounting for over 94% of net sales. The company is characterized by its quality control and operational standardization using its in-house developed warehouse management system "Cloud Thomas" and checklist system "Annie." It listed on the TSE Mothers market (now the Growth Market) in 2020. In December 2023, it established Kantsu Next Logi Co., Ltd. to expand into the publication logistics field. Its main customers are EC and mail-order businesses, and in FY2025 (ending February 2025), Life Drink Company Co., Ltd. was a major customer accounting for 11.7% of net sales.
Business Model
In the Logistics Services segment, the company undertakes delivery center operations for e-commerce and mail-order businesses, generating volume-based revenue with labor costs, shipping charges, and rent as primary cost items. In the IT Automation Business, the company provides externally developed proprietary software (such as "Cloud Thomas" and "Annie") that has been proven at logistics sites, achieving a high operating margin of 52.3% in FY2025 (ending February 2025). The circular model of elevating logistics know-how into IT and reselling it serves as the source of differentiation.
Company Strengths
The company began operating logistics centers around 2000, during the early days of internet mail-order retailing, and has implemented the accumulated know-how into its in-house developed warehouse management system "Cloud Thomas" (launched in 2017, with the Pro version added in 2021). The capital and business alliance with Canon IT Solutions Inc. (April 2022) has strengthened system integration and accelerated deployment to external customers.
In addition to the EC & Mail-Order Logistics Support Service, the company combines order management outsourcing services, contact center operations, and the Logistics Consulting Service to achieve one-stop outsourcing of back-office operations. It is also pursuing cost efficiency through the use of its Yangon BPO Center in Myanmar, and net sales for FY2025 (ended February 2025) reached ¥15,270 million (up 27.9% year on year).
In December 2023, the company established Kantsu Next Logi Co., Ltd. and entered a new business area by acquiring the publication logistics business from Kawade Kosan. In December 2024, it also newly established the Tokorozawa Logistics Center (Saitama Prefecture), expanding multiple sites centered mainly on the Kansai and Kanto regions. Capital expenditures for FY2025 (ended February 2025), including tangible fixed assets, software, and security deposits, amounted to ¥463,099 million.
ENVALITH's Perspective
Performance Trend
Revenue rose for 5 consecutive fiscal years: ¥10,099 million in FY2022 (ended February 2022) → ¥10,494 million in FY2023 → ¥11,938 million in FY2024 → ¥15,270 million in FY2025 → ¥18,346 million in FY2026. Operating profit fell into a loss of ¥47 million in FY2025 due to the impact of a cyberattack, but recovered to a profit of ¥320 million in FY2026. In Q1 of FY2027 (ending February 2027) (March–May 2026), revenue was ¥5,291 million (up 29.7% year on year) and operating profit was ¥78 million, turning positive from an operating loss of ¥33 million in the same period of the previous year, confirming a recovery trajectory. As external factors, the continued expansion of the EC market is boosting logistics demand, while elevated energy prices, rising labor costs, and higher interest payments due to rising interest rates are acting as cost headwinds. Net assets decreased by ¥128 million from the end of the previous fiscal year to ¥2,115 million, due to dividend payments (¥102 million) and other factors.
Growth Strategy
"From Boxes to Wisdom" qualitative transformation and enhanced specialization and revenue diversification across 5 businesses through the holding company structure
Rental costs were curbed by temporarily suspending new expansion of logistics bases, while productivity was improved through labor-saving and automation investments utilizing AI and robotics. Although the segment profit margin for Q1 of FY2027 (ending February 2027) remained low at 0.9%, the business turned profitable from a loss in the same period of the previous year, maintaining an improving trend.
The company transitioned to a holding company structure on April 1, 2026, reorganizing its reportable segments into 5 categories. The Commerce DX Business, Estate Leasing Business, and Cybersecurity Business were each made independent to enhance the specialization and profit management precision of each business. The company aims to improve revenue stability by building a multi-business portfolio through the holding company transition.
Cyber Governance Lab Co., Ltd. was added as a newly consolidated subsidiary, beginning full-scale operation of a service business leveraging the company's own security expertise. In Q1 of FY2027 (ending February 2027), the business achieved net sales of ¥8 million and segment profit of ¥2 million (profit margin of 26.0%), becoming profitable in its very first quarter. Given the extremely robust corporate demand for cybersecurity in the market environment, further scale expansion is expected going forward.
The logistics real estate business, centered on sublease operations, was made independent as the Estate Leasing Business, securing stable rental income. Segment profit for Q1 of FY2027 (ending February 2027) was ¥63 million (up 54.1% year on year), demonstrating high growth and functioning as a cash cow that complements fluctuations in profit from the Logistics Services business.
Last updated: July 17, 2026