ENVALITH
大東港運株式会社 logo

DAITO KOUN CO.,LTD.

9367・Standard Market・Warehousing & Harbor Transportation Services

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大東港運株式会社 logo
DAITO KOUN CO.,LTD.9367

Business

Daito Koun Co., Ltd. is a port transportation specialist founded in 1957, listed on the Standard Market of the Tokyo Stock Exchange. The group consists of Daito Koun itself together with 9 subsidiaries and 1 affiliate, and operates five segments centered on the Import/Export Cargo Handling Business (72.9% of sales composition): the Steel Logistics Business, Overseas Business (China, Singapore, etc.), Domestic Real Estate Leasing Business, and Other Businesses (port cargo handling, land transport, marine products wholesale, etc.). Major customers include food importers such as Costco Wholesale Japan Co., Ltd. (11.1% of sales), and the company provides logistics infrastructure offering one-stop support from import customs clearance to storage and delivery of livestock products, marine products, and agricultural products.

Business Model

In the Import/Export Cargo Handling Business, the company undertakes an integrated service covering quarantine inspection, customs clearance, bonded transport, and delivery of imported food products, earning fee and freight income based on handling volume. In the Steel Logistics Business, it handles cargo handling, storage, and delivery of domestic steel products, securing stable contracted revenue. In the Overseas Business, subsidiaries in China and Singapore provide local logistics services. In the Domestic Real Estate Leasing Business, the company leases warehouses and properties owned by itself and its subsidiaries, building a diversified revenue model that generates high-margin cash flow with a profit margin of 33.6%.

Company Strengths

Since its founding in 1957, the company has specialized in food import logistics centered on livestock products, marine products, and agricultural products, and holds customs brokerage licenses as an AEO-certified customs broker at the Tokyo, Yokohama, Osaka, Kobe, and Moji customs offices. In FY2026 (ending March 2026), operating revenue from the Import/Export Cargo Handling Business was ¥13,221 million, accounting for 72.9% of the total, and the company has built ongoing business relationships with major clients such as Costco Wholesale Japan.

Through a strategic alliance with MOL Logistics Co., Ltd., the company has established a framework to provide customers with safer and more reliable services. This was implemented as part of the "Expansion of Sustainable Value" initiative under the 8th Medium-Term Management Plan, contributing to the acquisition of new customers and cargo volumes. The alliance with a major logistics group has enabled the company to respond to service areas that would be difficult to address independently.

The Domestic Real Estate Leasing Business achieved operating revenue of ¥338 million and a segment profit margin of 33.6% in FY2026 (ending March 2026), boasting the highest level of profitability within the group. Daito Unyu Souko Co., Ltd. is expanding its rental asset base through the acquisition of new warehouse properties (¥276,065 thousand). Backed by stable occupancy of logistics facilities, the company achieved a 16.7% year-on-year increase in rental income.

ENVALITH's Perspective

In FY2026 (ending March 2026), operating revenue was ¥18,132 million (exceeding the mid-term plan target of over ¥17,500 million), operating profit was ¥1,095 million (exceeding the target of over ¥920 million), ordinary profit was ¥1,239 million (exceeding the target of over ¥1,000 million), and net income attributable to owners of parent was ¥870 million (exceeding the target of over ¥670 million), surpassing targets across all metrics. The turnaround to profitability in the Overseas Business and Other Businesses has enhanced the quality of earnings, and this can be evaluated as a structural improvement in profitability rather than mere market dependence.

In FY2026 (ending March 2026), the operating margin improved significantly to 6.0% (from 3.9% in the previous fiscal year), but this remains on a recovery path when compared to the level of approximately 6.5% in FY2022 (ending March 2022). The operating profit forecast for the first year of the 9th Medium-Term Management Plan, FY2027 (ending March 2027), is ¥1,100 million (+0.4% year on year), indicating a flat outlook, and there is a possibility that the effect of higher revenue will continue to be offset by rising costs. Productivity improvements through digitalization of the operating model will be key to improving the profit margin.

Food imports, the company's core business, are highly susceptible to rising prices in producing countries, the continuation of the weak yen environment, and the frugality sentiment resulting from price increases. In FY2026 (ending March 2026), handling of other foods and daily necessities decreased, while livestock, marine, and agricultural products increased, offsetting the decline overall, but it remains unclear whether this substitution effect between product categories will continue. In addition, uncertainty surrounding US tariff policy remains a risk that could affect import/export logistics as a whole. The ordinary profit forecast for FY2027 (ending March 2027) is ¥1,200 million (down 3.2% year on year), indicating a decline in profit, and attention should be paid to sensitivity to a deterioration in the external environment.

Growth Strategy

Under the 9th Medium-Term Management Plan "Stronger Together," the company is advancing deepening of existing operations, overseas expansion, and digitalization

To respond in a one-stop manner to diversifying customer needs, the sales structure is being transformed to further expand the core businesses of food imports and steel logistics, while also taking on the challenge of entering new derivative business domains. Providing new services leveraging the strategic partnership with MOL Logistics contributes to strengthening competitiveness.

A transport infrastructure capable of flexibly responding to requirements such as delivery deadlines and temperature control is being developed to build a stable transport system that meets diverse customer needs. Renewal of transport equipment (implemented in FY2026 (ending March 2026)) will continue, leading to improved logistics quality and the acquisition of new customers.

Digital technology is being incorporated into the existing operating model to establish a model whose results can be reproduced and expanded. RPA implementation, IT training, and productivity improvement projects will continue, aiming to improve profit margins by simultaneously enhancing customer responsiveness and operational efficiency.

Personnel with specialized knowledge to support overseas expansion and new domain growth are being systematically developed, strengthening on-site judgment and proposal capabilities. Leveraging the expanded logistics capacity from Ever Glory Logistics Pte. Ltd.'s warehouse acquisition, the scale of earnings from overseas business will be further expanded.

All targets for net sales, operating profit, ordinary profit, and net income for the period were exceeded (actual results: net sales ¥18.1 billion, operating profit ¥1.09 billion, ordinary profit ¥1.23 billion, net income ¥0.91 billion vs. targets: ¥17.5 billion, ¥0.92 billion, ¥1.0 billion, ¥0.67 billion).

Last updated: July 19, 2026