SAKURAJIMA FUTO KAISHA,LTD.
9353・Standard Market・Warehousing & Harbor Transportation Services
SAKURAJIMA FUTO KAISHA,LTD.
9353・Standard Market・Warehousing & Harbor Transportation Services
Business
Sakurashima Futo Corporation is a port logistics specialist company established in 1948, located in the northern part of Osaka Port. Together with its consolidated subsidiary Naniwa Construction & Transportation Co., Ltd., the group operates four segments: Bulk Cargo such as coal and coke; Liquid Cargo such as petrochemicals and petroleum fuels; Logistics Warehouse handling hazardous materials and frozen foods; and solar power sales. The company is equipped with large-scale cargo handling machinery, tanks with a total capacity of approximately 130,000 kiloliters, various specialized warehouses, and open storage yards, having built an integrated transport system covering everything from receiving to storage and delivery to customers. Leveraging its location, which is backed by the major Keihanshin production and consumption zone and directly connected to major domestic and international shipping routes as well as inland arterial road networks, the company provides port logistics services to industrial customers including J-POWER (Electric Power Development Co., Ltd.).
Business Model
The company owns dedicated infrastructure such as large cranes, tanks, and warehouses on port land leased from the City of Osaka, securing multiple revenue streams by providing integrated Cargo Handling Operations, Marine Transport Operations, Storage Operations, and land transport. The Liquid Cargo Segment has a high-profitability structure, with net sales of ¥1,386 million against operating income of ¥434 million (profit margin of 31.3%), and the Logistics Warehouse segment is also stable with an operating margin of 41.2%. Maintaining equipment utilization rates is key to profitability, and continued transactions with long-term customers support a stable earnings base.
Company Strengths
The company owns and operates large-scale cargo handling machinery, tanks with a total capacity of approximately 130,000 kiloliters, various dedicated warehouses, and open storage yards concentrated in the northern area of the Port of Osaka. The land lease agreement with the City of Osaka is secured through March 2044, making it difficult for competitors to develop equivalent port infrastructure in a short period. Of the total assets of ¥12,203 million at the end of FY2026 (ending March 2026), fixed assets account for the vast majority, and this depth of infrastructure assets forms a barrier to entry.
The Liquid Cargo Segment maintained high profitability in FY2026 (ending March 2026), with net sales of ¥1,386 million and operating profit of ¥434 million (margin of 31.3%), while the Logistics Warehouse Segment recorded net sales of ¥541 million and operating profit of ¥223 million (margin of 41.2%). The combined operating profit of ¥657 million from these two segments underpins the group's overall earnings, achieving a stable profit structure that absorbs fluctuations in the Bulk Cargo business.
The company has built an integrated system providing Cargo Handling Operations, Marine Transport Operations, Storage Operations, and Land Transport within its own group. Transactions with J-POWER (Electric Power Development Co., Ltd.) reached ¥678 million in FY2026 (ending March 2026), accounting for 16.6% of total sales, maintaining an increase from the previous fiscal year. Storage Operations continued to operate stably at ¥488 million, flat versus the previous fiscal year, and ongoing relationships with long-term customers enhance the predictability of earnings.
ENVALITH's Perspective
Performance Trend
Revenue fell from ¥4,198 million in FY2022 to ¥3,866 million in FY2023, then recovered to ¥4,112 million in FY2024 and ¥4,338 million in FY2025, before slightly declining to ¥4,260 million in FY2026 (ending March 2026). Meanwhile, operating profit expanded 2.3-fold over five periods, from ¥109 million in FY2022 to ¥251 million in FY2026, and net income also renewed its five-year high at ¥290 million in FY2026. The profit improvement in FY2026 was mainly driven by efficiency gains in cost of sales (a decrease in cargo handling-related expenses and depreciation), an increase in dividend income received (¥161 million), and a settlement payment (¥57 million recorded as extraordinary income) related to a lawsuit seeking increased rent. Comprehensive income rose sharply to ¥1,155 million from ¥741 million in the previous period, due to an increase in the fair value of investment securities (valuation difference on available-for-sale securities of +¥866 million).
Growth Strategy
Under the 4th Medium-Term Management Plan, the company continues capital investment and is transitioning to a next-generation business portfolio.
In anticipation of shrinking demand for fuel-related Bulk Cargo, the company is constructing a highly versatile general-purpose Bulk Cargo warehouse utilizing open storage yard space. In FY2026 (ending March 2026), ¥262 million was recorded as construction in progress, and construction has already commenced. Operations are scheduled to begin in February 2027, aiming to attract new cargo and expand storage capacity.
The company is considering tank expansion using open storage yard space and converting existing steel tanks to stainless steel. The aim is to diversify the range of chemical products handled and enhance added value. In FY2027 (ending March 2027), the occurrence of Tank Operation Special Service fees is also anticipated, and revenue growth is expected in the Liquid Cargo Segment.
In FY2026 (ending March 2026), the company implemented a core system renewal (intangible fixed assets - other surged from ¥3 million to ¥129 million). Human capital investment accompanied by increased personnel expenses is also continuing, aiming to improve operational efficiency and strengthen organizational capabilities. In FY2027 (ending March 2027), increased operating expenses associated with the new system's operation are expected.
Fee revisions for some warehouses were implemented during FY2026 (ending March 2026). In FY2027 (ending March 2027), the full-year contribution of the revision effects is expected to drive revenue growth in the Logistics Warehouse segment. The company will also continue to strengthen collaboration with partner companies, aiming to maintain and improve occupancy rates.
Last updated: July 19, 2026