# LOGINET JAPAN CO.,LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 訂正有価証券報告書－第21期(2025/04/01－2026/03/31) (S100YHW8)
> Page: https://vizora.meequs.com/en/company/loginet-japan
> Retrieved: 2026-09-30T22:47:57.232Z

## Company

Loginet Japan, founded in 2005, is a company in Trucking & Parcel Delivery listed on Sapporo. It has 1,683 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | LOGINET JAPAN CO., LTD. |
| Ticker | 9027 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9027.T) |
| Listing | Sapporo |
| Head office | 札幌市中央区大通西8丁目2番地6 |
| Representative (per filing) | 代表取締役 社長執行役員 橋本 潤美 |
| Founded | May 2005 |
| Share capital | ¥1B |
| Employees (consolidated) | 1,683 |
| Average salary (parent only) | ¥7.3M |
| Fiscal year end | March |
| Website | www.loginet-japan.com (https://www.loginet-japan.com/) |
| Corporate number | 5430001030460 |
| EDINET | E04232 |
| Industries (Vizora) | Trucking & Parcel Delivery |

> Profile source: annual securities report (S100YHW8, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Trucking & Parcel Delivery (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 40.5 | 21 |
| Profitability | 47.7 | 22 |
| Cash conversion | 52.3 | 22 |
| Efficiency | 97.7 | 22 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 41% of Loginet Japan's sales come from EASTERN JAPAN GROUP, with HOKKAIDO GROUP and WESTERN JAPAN GROUP making up much of the rest.
- Out of every ¥100 of sales, about ¥5 is left as operating profit.
- Revenue changed +1.0% from the prior year, operating profit +1.2%.

## Company structure

- Segment revenue mix: EASTERN JAPAN GROUP 41.0%、HOKKAIDO GROUP 28.3%、WESTERN JAPAN GROUP 25.9%、Other 4.8%
- Revenue → net income: ¥78008000000 → ¥2745000000
- Net income → operating cash flow: ¥2745000000 → ¥5832000000（difference ¥3087000000）
- Main uses of operating cash flow: CapEx ¥3877000000 / dividends ¥641000000 / buybacks ¥1557000000
- Change in cash: ¥1145000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥78B |  |
| Operating income | ¥3.71B | Margin 4.8% |
| Net income | ¥2.75B | Margin 3.5% |
| Free cash flow | ¥1.96B |  |
| Largest business | EASTERN JAPAN GROUP | of segment revenue 41.0% |
| Employees (consolidated) | 1,683 |  |
| EPS | ¥554.29 |  |
| Book value per share | ¥3973.68 |  |
| Equity ratio | 57.6% |  |
| Shares outstanding | 5,740,000 |  |
| Treasury shares | 784,400 |  |
| Shareholders | 2,022 |  |
| Average salary (parent only) | ¥7.3M | Filing company only |
| Cash ratio | 3.9% | Cash ÷ revenue 1.9% |
| Vs. industry median margin | 0 pp | Trucking & Parcel Delivery |
| ROE | 13.2% | Derived from disclosed figures |
| ROA | 7.3% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 2.4× dividends
- FY2026, operating cash flow is 2.1× net income
- FY2026, segment profit share differs by 40 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥65178113000 | ¥78008000000 | +19.7% |
| Operating income | ¥3489856000 | ¥3711000000 | +6.3% |
| Operating margin | 5.4% | 4.8% | -0.6 pp |
| Employees | 1,810 people | 1,683 people | -7.0% |
| Cash and equivalents | ¥711100000 | ¥1521000000 | +113.9% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 北海道 → 北海道 | 28.3% |
| 北海道 → 事業再編・廃止 | 2.0% |
| 東日本 → 東日本 | 41.0% |
| 東日本 → 事業再編・廃止 | 6.7% |
| 西日本 → 西日本 | 20.1% |
| その他 → その他 | 1.8% |
| 新設・再編 → 西日本 | 5.8% |
| 新設・再編 → その他 | 3.0% |

Segment revenue source references: 8 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| EASTERN JAPAN GROUP | 5 years | +0.6% | ¥32008000000 | 6.0% | 2 |
| HOKKAIDO GROUP | 5 years | +2.2% | ¥22058000000 | 3.4% | 2 |
| WESTERN JAPAN GROUP | 5 years | +9.0% | ¥20181000000 | 3.1% | 2 |
| Other | 5 years | +25.8% | ¥3761000000 | 71.8% | 2 |

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 78,008 | 100.0% | S100YHW8 |
| SG&A | 3,538 | 4.5% | S100YHW8 |
| Operating income | 3,711 | 4.8% | S100YHW8 |
| Ordinary income | 3,686 | 4.7% | S100YHW8 |
| Pretax income | 4,057 | 5.2% | S100YHW8 |
| Income tax | 1,312 | 1.7% | S100YHW8 |
| Net income | 2,745 | 3.5% | S100YHW8 |
| Net income attributable to owners | 2,745 | 3.5% | S100YHW8 |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Operating expenses | 95 |
| Operating income | 5 |
| (Ref.) Net income | 4 |

### Margin funnel

Operating margin 4.8% → Net margin 3.5%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +1.0%; Core profit growth: +1.2%
Growth quality: similar-growth
Operating leverage (core profit growth ÷ revenue growth): 1.26×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 77,256 | 78,008 | 752 | +1.0% |
| Operating income | 3,666 | 3,711 | 45 | +1.2% |
| Net income attributable to owners | 2,248 | 2,745 | 497 | +22.1% |
| Operating cash flow | 4,532 | 5,832 | 1,300 | +28.7% |
| Free cash flow | 650 | 1,955 | 1,305 | +200.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 65,606 | 3,339 | 5.1% | 2,128 | 2,981 | -200 | S100LV41 |
| FY ending Mar 2021 | 65,178 | 3,490 | 5.4% | 2,224 | 3,457 | -132 | S100OKFN |
| FY ending Mar 2022 | 68,021 | 3,447 | 5.1% | 2,366 | 4,492 | 1,473 | S100R24Q |
| FY ending Mar 2023 | 72,860 | 3,762 | 5.2% | 2,555 | 5,003 | 3,422 | S100TTBK |
| FY ending Mar 2024 | 74,075 | 3,158 | 4.3% | 1,943 | 3,453 | 1,749 | S100W7SX |
| FY ending Mar 2025 | 77,256 | 3,666 | 4.7% | 2,248 | 4,532 | 650 | S100YHW8 |
| FY ending Mar 2026 | 78,008 | 3,711 | 4.8% | 2,745 | 5,832 | 1,955 | S100YHW8 |

## People and productivity（FY ending Mar 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥46.4M |
| Operating income per employee (consolidated) | ¥2.2M |
| Net income per employee (consolidated) | ¥1.6M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 1,780 | 1,754 | 1,708 | 1,692 | 1,683 |
| Average salary (parent company) | ¥6.4M | ¥6.4M | ¥6.8M | ¥6.9M | ¥7.3M |
| Average age (parent company) | 40.4 years | 41.9 years | 43.3 years | 41.6 years | 41.2 years |
| Average tenure (parent company) | 11.5 years | 12.8 years | 12.3 years | 11.3 years | 11.4 years |

Year over year: Employees (consolidated) -0.5% · Revenue (consolidated) +1.0%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| HOKKAIDO GROUP | 22,058 | 28.3% | 743 | 3.4% |
| EASTERN JAPAN GROUP | 32,008 | 41.0% | 1,917 | 6.0% |
| WESTERN JAPAN GROUP | 20,181 | 25.9% | 623 | 3.1% |
| Other | 3,761 | 4.8% | 2,702 | 71.8% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| HOKKAIDO GROUP | 28.3% | 12.4% | -15.9 | 3.4% |
| EASTERN JAPAN GROUP | 41.0% | 32.0% | -9.0 | 6.0% |
| WESTERN JAPAN GROUP | 25.9% | 10.4% | -15.5 | 3.1% |
| Other | 4.8% | 45.1% | 40.3 | 71.8% |

Segment → industry: WESTERN JAPAN GROUP → Trucking & Parcel Delivery / EASTERN JAPAN GROUP → Trucking & Parcel Delivery / HOKKAIDO GROUP → Trucking & Parcel Delivery

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 5,832 | 7.5% | S100YHW8 |
| Capital expenditure | 3,877 | 5.0% | S100YHW8 |
| Free cash flow | 1,955 | 2.5% | 算出 |
| Investing cash flow | -3,102 | -4.0% | S100YHW8 |
| Financing cash flow | -1,584 | -2.0% | S100YHW8 |
| Dividends paid | 641 | 0.8% | S100YHW8 |
| Share buyback | 1,557 | 2.0% | S100YHW8 |
| Change in cash | 1,145 | 1.5% | S100YHW8 |
| Cash and equivalents | 1,521 | 1.9% | S100YHW8 |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 620 | 1,518 | 272 | 376 | 1,521 | S100TTBK, S100W7SX, S100YHW8 |
| Total assets | 35,119 | 35,448 | 35,041 | 36,194 | 38,941 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Net assets | 17,062 | 18,994 | 19,814 | 21,040 | 22,431 | S100TTBK, S100W7SX, S100YHW8 |
| Share capital | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Inventories | 114 | 97 | 166 | 223 | 184 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Property, plant and equipment | 19,503 | 18,730 | 18,569 | 20,272 | 21,830 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Intangible assets excluding goodwill | 313 | 348 | 479 | 583 | 790 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Investment securities | 1,454 | 1,308 | 2,162 | 2,094 | 2,929 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Current assets | 11,521 | 12,832 | 11,610 | 11,045 | 11,139 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Current liabilities | 13,216 | 12,189 | 11,916 | 11,610 | 13,419 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Short-term borrowings | 5,024 | 3,427 | 3,515 | 3,370 | 4,940 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Long-term borrowings | 3,937 | 3,394 | 2,164 | 2,393 | 1,463 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Total liabilities | 18,057 | 16,453 | 15,226 | 15,154 | 16,510 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Non-controlling interests | 262 | 258 | 245 | — | — | S100R24Q, S100TTBK, S100W7SX |
| Equity attributable to owners of parent | 17,002 | 18,837 | 19,105 | 20,453 | 21,096 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Retained earnings | 16,849 | 18,685 | 17,919 | 19,519 | 21,623 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |
| Treasury stock | -1,439 | -1,439 | -406 | -766 | -2,253 | S100R24Q, S100TTBK, S100W7SX, S100YHW8 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 4% | S100YHW8 |
| Inventories | 0% | S100YHW8 |
| Property, plant and equipment | 56% | S100YHW8 |
| Intangibles and goodwill | 2% | S100YHW8 |
| Investment securities | 8% | S100YHW8 |
| Other assets | 30% | S100YHW8 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 42% | S100YHW8 |
| Equity | 58% | S100YHW8 |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 35,119 | 35,448 | 35,041 | 36,194 | 38,941 |
| Equity | 17,062 | 18,994 | 19,814 | 21,040 | 22,431 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 620 | 1,518 | 272 | 376 | 1,521 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 28.0% | S100YHW8 |
| Fixed assets ÷ total assets | 56.1% | S100YHW8 |
| Goodwill ÷ parent equity | — | —, S100YHW8 |

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 3.9% |
| Cash ÷ revenue | 1.9% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 157.2% |
| Cash vs. profit gap | 3,087 JPY mn (of net income 112.5%) |
| Shareholder returns / net income | 80.1% |
| Shareholder returns / FCF | 112.4% |
| Shareholder payments — dividends / net income | 23.4% |
| Shareholder payments — dividends / FCF | 32.8% |
| CapEx intensity (capex ÷ revenue) | 5.0% |
| Investing CF relative to operating CF | 53.2% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 3.5% | 1.94× | 6.7% | 2.07× | 13.9% | S100R24Q |
| 2023 | 3.5% | 2.06× | 7.2% | 1.97× | 14.3% | S100TTBK |
| 2024 | 2.6% | 2.10× | 5.5% | 1.86× | 10.2% | S100W7SX |
| 2025 | 2.9% | 2.17× | 6.3% | 1.80× | 11.4% | S100YHW8 |
| 2026 | 3.5% | 2.08× | 7.3% | 1.81× | 13.2% | S100YHW8 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 北海道マツダ販売株式会社 | Major shareholder | 7.2% | 2026-03-31 |
| ロジネットジャパン 持株親栄会 | Major shareholder | 5.6% | 2026-03-31 |
| ロジネットジャパン 従業員持株会 | Major shareholder | 5.3% | 2026-03-31 |
| 公益財団法人廣西・ロジネットジャパン社会貢献基金 | Major shareholder | 4.4% | 2026-03-31 |
| ノースパシフィック株式会社 | Major shareholder | 4.3% | 2026-03-31 |
| 株式会社北洋銀行 | Major shareholder | 4.3% | 2026-03-31 |
| 株式会社北海道銀行 | Major shareholder | 4.3% | 2026-03-31 |
| 株式会社第四北越銀行 | Major shareholder | 3.2% | 2026-03-31 |
| 住友ゴム工業株式会社 | Major shareholder | 3.0% | 2026-03-31 |
| 横浜ゴム株式会社 | Major shareholder | 2.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 訂正有価証券報告書－第21期(2025/04/01－2026/03/31) | S100YHW8 | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHW8,, |
| 有価証券報告書－第20期(2024/04/01－2025/03/31) | S100W7SX | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W7SX,, |
| 有価証券報告書－第19期(2023/04/01－2024/03/31) | S100TTBK | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TTBK,, |
| 有価証券報告書－第18期(2022/04/01－2023/03/31) | S100R24Q | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R24Q,, |
| 有価証券報告書－第17期(令和3年4月1日－令和4年3月31日) | S100OKFN | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OKFN,, |
| 有価証券報告書－第16期(令和2年4月1日－令和3年3月31日) | S100LV41 | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LV41,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).