FUSHIKI KAIRIKU UNSO CO.,LTD.
9361・Standard Market・Warehousing & Harbor Transportation Services
FUSHIKI KAIRIKU UNSO CO.,LTD.
9361・Standard Market・Warehousing & Harbor Transportation Services
Business
Fushiki Kairiku Un-yu Co., Ltd. is a general logistics company established in 1944 and based in Toyama Prefecture. It forms the FKK Group, consisting of the company along with 12 consolidated subsidiaries and 5 equity-method affiliates. In its core Port Transportation Business, the company provides comprehensive sea-land port logistics services at Fushiki Port and Toyama Shinko Port, including vessel loading and unloading, container terminal operations, customs brokerage, coastal shipping, warehousing, and truck transportation. In addition, it operates a diversified group that engages in Real Estate Leasing & Parking Lot Operations and housing business (Real Estate Business), knit product manufacturing (Textile Products Manufacturing Business), and travel business, disaster prevention, ship repair, and other operations (Other Businesses). Listed on the Standard Market of the Tokyo Stock Exchange.
Business Model
Of net sales of ¥13,453 million, the Port Transportation Business accounts for approximately 69%, with volume-based revenue tied to the handling volume of imported/transferred cargo such as wood chips, coal, and containers forming the core. The Real Estate Business (net sales of ¥1,112 million, profit margin of 29.1%) generates stable cash flow from leasing and parking lot income. The Textile Products Manufacturing Business (net sales of ¥2,142 million) complements this through the manufacturing of Knit Products for Automotive Interior Materials and Knit Products for Apparel. Capital expenditure is concentrated mainly on vehicles and cargo-handling machinery for port operations, with a structure that secures operating cash flow exceeding depreciation expense of ¥816 million.
Company Strengths
Fushiki-Toyama Port and Toyama Shinko Port are located at the center of the Sea of Japan Rim economic zone, functioning as trade hubs with countries across the sea (China, Russia, South Korea, etc.). In FY2025 (ended June 2025), the Port Transportation Business achieved net sales of ¥9,232 million and segment profit of ¥1,312 million (profit margin of 14.2%), with growth in inbound cargo handling volume driving performance.
As of the end of FY2025 (ended June 2025), the equity ratio stood at 49.6% (up 1.6 percentage points year on year), the debt repayment period was 2.5 years (a significant improvement from 5.2 years in the previous fiscal year), and the interest coverage ratio was 37.5x, indicating high financial soundness. The company held net assets of ¥12,883 million and cash and deposits of ¥3,011 million, with repayment of long-term borrowings also progressing smoothly.
The Real Estate Business secured a segment profit of ¥323 million (profit margin of 29.1%) even amid a decline in net sales, functioning as a stable revenue source. The Textile Products Manufacturing Business turned around from a segment loss of ¥40 million in the previous fiscal year to a profit of ¥23 million in FY2025 (ended June 2025). A structure has been established in which multiple segments complement the volatility risk of the Port Transportation Business.
ENVALITH's Perspective
Performance Trend
Over the past five fiscal years, revenue has ranged between ¥12,209 million and ¥13,453 million, and the full-year forecast for FY2026 (ending June 2026) targets a record-high level of ¥14,100 million (up 4.8% year on year). For the cumulative nine months (Q1–Q3) of FY2026 (ending June 2026), revenue was ¥10,651 million (up 7.7% year on year), operating profit was ¥1,015 million (up 8.1% year on year), and ordinary profit was ¥1,048 million (up 13.1% year on year), representing increases in both revenue and profit across all indicators. The main driver was an increase in the volume of import/export cargo handled in the Port Transportation Business, with the recovery of Sea of Japan Rim trade contributing as an external factor. The full-year performance forecast (revenue of ¥14,100 million, operating profit of ¥1,200 million) remains unchanged, and the company states that progress as of the end of Q3 was generally in line with the forecast. It should be noted, however, that the full-year operating profit forecast implies a 3.6% year-on-year decline, and an increase in expenses is expected in Q4 alone.
Growth Strategy
Sustainable growth centered on expanding handling capacity at Fushiki-Toyama Port and responding to modal shift demand, supported by human capital development and ESG management
Strengthen the intake of import and export cargo through the continuous expansion of cargo types and shipping routes handled at Fushiki-Toyama Port. Progress has been steady, with Port Transportation Business net sales reaching ¥7,205 million (up 5.5% year on year) for the cumulative nine months of FY2026 (ending June 2026), demonstrating that the strategy of capturing trade expansion in the Sea of Japan Rim economic zone is functioning effectively.
Capture demand for modal shift toward maritime transport and aim to acquire new cargo. A framework is being developed to actively accommodate demand shifting from land transport to sea transport, leveraging comprehensive proposal capabilities built on integrated land-sea port logistics services.
Establish a sustained profitable structure in the Textile Products Manufacturing Business through increased orders for Knit Products for Automotive Interior Materials and Knit Products for Apparel. Segment profit for the cumulative nine months of FY2026 (ending June 2026) improved significantly to ¥36 million (up 261.6% year on year), suggesting that the shift to profitability is becoming entrenched. Further improvement in profit margin remains the next challenge.
Continue securing and developing human resources across the port logistics and manufacturing businesses, while pursuing capital investment such as the acquisition of machinery, equipment, and vehicles (net machinery, equipment and vehicles of ¥1,536 million as of the end of March 2026, an increase of ¥284 million from the previous fiscal year-end) to improve productivity and reinforce the business foundation.
Last updated: July 17, 2026