# SENKON LOGISTICS CO., LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第67期(2025/04/01－2026/03/31) (S100YKGW)
> Page: https://vizora.meequs.com/en/company/senkon-logistics
> Retrieved: 2026-09-30T19:07:23.695Z

## Company

Senkon Logistics, founded in 1959, is a company in Electric Power & Gas listed on TSE Standard. It has 473 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | SENKON LOGISTICS CO., LTD. |
| Ticker | 9051 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9051.T) |
| Listing | TSE Standard |
| Head office | 宮城県名取市下余田字中荷672番地の1 |
| Representative (per filing) | 代表取締役社長 社長執行役員 久保田 賢二 |
| Founded | Oct 1959 |
| Share capital | ¥1.26B |
| Employees (consolidated) | 473 |
| Average salary (parent only) | ¥4.5M |
| Fiscal year end | March |
| Website | www.senkon.co.jp (https://www.senkon.co.jp/) |
| Corporate number | 3370801000134 |
| EDINET | E04215 |
| Industries (Vizora) | Electric Power & Gas, Car Dealers & Used Cars, Trucking & Parcel Delivery, Warehouses & Logistics Facilities |

> Profile source: annual securities report (S100YKGW, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Car Dealers & Used Cars (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 25 | 18 |
| Profitability | 38.6 | 22 |
| Cash conversion | 47.5 | 20 |
| Efficiency | 15.9 | 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 51% of Senkon Logistics's sales come from Passenger car selling, with Transportation and Warehousing making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +5.8% from the prior year, operating profit -30.0%.

## Company structure

- Segment revenue mix: Passenger car selling 51.4%、Transportation 26.5%、Warehousing 21.0%、Renewable energy business 1.1%
- Revenue → net income: ¥19919026000 → ¥261286000
- Net income → operating cash flow: ¥261286000 → ¥393835000（difference ¥132549000）
- Main uses of operating cash flow: CapEx ¥356417000 / dividends ¥74399000 / buybacks ¥42105000
- Change in cash: ¥-379549000
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 | ¥19.9B |  |
| Operating income | ¥569.9M | Margin 2.9% |
| Net income | ¥167.3M | Margin 0.8% |
| Free cash flow | ¥37.4M |  |
| Largest business | Passenger car selling | of segment revenue 51.4% |
| Employees (consolidated) | 473 |  |
| EPS | ¥48.65 |  |
| Diluted EPS | ¥47.8 |  |
| Book value per share | ¥979.35 |  |
| Equity ratio | 32.5% |  |
| Shares outstanding | 5,651,000 |  |
| Treasury shares | 710,200 |  |
| Shareholders | 1,666 |  |
| Average salary (parent only) | ¥4.5M | Filing company only |
| Cash ratio | 13.6% | Cash ÷ revenue 12.7% |
| Vs. industry median margin | -0.3 pp | Car Dealers & Used Cars |
| ROE | 2.9% | Derived from disclosed figures |
| ROA | 0.9% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.4× net income
- FY2026, segment profit share differs by 32 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥16071021000 | ¥19919026000 | +23.9% |
| Operating income | ¥692367000 | ¥569888000 | -17.7% |
| Operating margin | 4.3% | 2.9% | -1.4 pp |
| Employees | 425 people | 473 people | +11.3% |
| Cash and equivalents | ¥2938341000 | ¥2526459000 | -14.0% |

### 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 |
| --- | ---: |
| 運送事業 → 運送事業 | 26.5% |
| 運送事業 → 事業再編・廃止 | 5.6% |
| 倉庫事業 → 倉庫事業 | 21.0% |
| 倉庫事業 → 事業再編・廃止 | 0.3% |
| 乗用車販売事業 → 乗用車販売事業 | 44.5% |
| 再生可能エネルギー事業 → 再生可能エネルギー事業 | 1.1% |
| 再生可能エネルギー事業 → 事業再編・廃止 | 0.3% |
| アグリ事業 → 事業再編・廃止 | 0.6% |
| 新設・再編 → 乗用車販売事業 | 6.9% |

Segment revenue source references: 9 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Passenger car selling | 5 years | +7.6% | ¥10120438000 | 3.7% | 2 |
| Transportation | 5 years | +0.6% | ¥5222405000 | 5.2% | 2 |
| Warehousing | 5 years | +4.2% | ¥4124742000 | 19.0% | 2 |
| Renewable energy business | 5 years | -0.8% | ¥215918000 | 24.6% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 19,919 | 100.0% | S100YKGW |
| SG&A | 2,919 | 14.7% | S100YKGW |
| Operating income | 570 | 2.9% | S100YKGW |
| Ordinary income | 556 | 2.8% | S100YKGW |
| Pretax income | 562 | 2.8% | S100YKGW |
| Income tax | 301 | 1.5% | S100YKGW |
| Net income | 261 | 1.3% | S100YKGW |
| Net income attributable to owners | 167 | 0.8% | S100YKGW |

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

| Part | JPY |
| --- | ---: |
| Operating expenses | 97 |
| Operating income | 3 |
| (Ref.) Net income | 1 |

### Margin funnel

Operating margin 2.9% → Net margin 0.8%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +5.8%; Core profit growth: -30.0%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -5.15×
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 | 18,825 | 19,919 | 1,094 | +5.8% |
| Operating income | 814 | 570 | -244 | -30.0% |
| Net income attributable to owners | 506 | 167 | -339 | -67.0% |
| Operating cash flow | 1,475 | 394 | -1,082 | -73.3% |
| Free cash flow | 933 | 37 | -896 | -96.0% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 16,194 | 442 | 2.7% | 210 | 957 | 732 | S100LSU7 |
| FY ending Mar 2021 | 16,071 | 692 | 4.3% | 355 | 1,124 | 974 | S100OKUM |
| FY ending Mar 2022 | 16,727 | 816 | 4.9% | 490 | 1,049 | 775 | S100R8P9 |
| FY ending Mar 2023 | 16,249 | 739 | 4.5% | 522 | 936 | 410 | S100TSOW |
| FY ending Mar 2024 | 17,543 | 561 | 3.2% | 384 | 566 | -26 | S100W6S6 |
| FY ending Mar 2025 | 18,825 | 814 | 4.3% | 506 | 1,475 | 933 | S100YKGW |
| FY ending Mar 2026 | 19,919 | 570 | 2.9% | 167 | 394 | 37 | S100YKGW |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥42.1M |
| Operating income per employee (consolidated) | ¥1.2M |
| Net income per employee (consolidated) | ¥353.8K |

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) | 430 | 422 | 448 | 449 | 473 |
| Average salary (parent company) | ¥4.3M | ¥4.3M | ¥4.3M | ¥4.5M | ¥4.5M |
| Average age (parent company) | 44.8 years | 44.9 years | 45.3 years | 45.4 years | 45.0 years |
| Average tenure (parent company) | 13.8 years | 13.8 years | 13.8 years | 13.8 years | 13.8 years |

Year over year: Employees (consolidated) +5.3% · Revenue (consolidated) +5.8%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Transportation | 5,222 | 26.5% | 271 | 5.2% |
| Warehousing | 4,125 | 21.0% | 783 | 19.0% |
| Passenger car selling | 10,120 | 51.4% | 371 | 3.7% |
| Renewable energy business | 216 | 1.1% | 53 | 24.6% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Transportation | 26.5% | 18.3% | -8.2 | 5.2% |
| Warehousing | 21.0% | 53.0% | 32.0 | 19.0% |
| Passenger car selling | 51.4% | 25.1% | -26.3 | 3.7% |
| Renewable energy business | 1.1% | 3.6% | 2.5 | 24.6% |

Segment → industry: Renewable energy business → Electric Power & Gas / Passenger car selling → Car Dealers & Used Cars / Transportation → Trucking & Parcel Delivery / Warehousing → Warehouses & Logistics Facilities

## 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 | 394 | 2.0% | S100YKGW |
| Capital expenditure | 356 | 1.8% | S100YKGW |
| Free cash flow | 37 | 0.2% | 算出 |
| Investing cash flow | -277 | -1.4% | S100YKGW |
| Financing cash flow | -496 | -2.5% | S100YKGW |
| Dividends paid | 74 | 0.4% | S100YKGW |
| Share buyback | 42 | 0.2% | S100YKGW |
| Change in cash | -380 | -1.9% | S100YKGW |
| Cash and equivalents | 2,526 | 12.7% | S100YKGW |

## 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 | 2,782 | 2,560 | 2,104 | 2,906 | 2,526 | S100TSOW, S100W6S6, S100YKGW |
| Total assets | 17,539 | 17,548 | 18,029 | 18,837 | 18,632 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Net assets | 5,012 | 5,399 | 5,761 | 6,124 | 6,436 | S100TSOW, S100W6S6, S100YKGW |
| Share capital | 1,263 | 1,263 | 1,263 | 1,263 | 1,263 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Property, plant and equipment | 9,913 | 9,965 | 10,189 | 10,299 | 10,318 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Intangible assets excluding goodwill | 44 | 68 | 67 | 63 | 64 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Investment securities | 360 | 397 | 517 | 390 | 587 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Current assets | 5,694 | 5,552 | 5,672 | 6,394 | 6,049 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Current liabilities | 6,621 | 6,503 | 6,921 | 7,494 | 7,048 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Short-term borrowings | 1,094 | 1,322 | 1,536 | 1,838 | 1,709 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Long-term borrowings | 4,855 | 4,696 | 4,259 | 4,212 | 4,125 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Total liabilities | 12,527 | 12,149 | 12,269 | 12,713 | 12,195 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Non-controlling interests | 198 | 206 | 261 | 219 | 354 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Equity attributable to owners of parent | 4,784 | 5,165 | 5,393 | 5,812 | 5,840 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Retained earnings | 2,724 | 3,170 | 3,479 | 3,911 | 4,004 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |
| Treasury stock | -390 | -454 | -486 | -499 | -541 | S100R8P9, S100TSOW, S100W6S6, S100YKGW |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 14% | S100YKGW |
| Property, plant and equipment | 55% | S100YKGW |
| Intangibles and goodwill | 0% | S100YKGW |
| Investment securities | 3% | S100YKGW |
| Other assets | 28% | S100YKGW |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 65% | S100YKGW |
| Equity | 35% | S100YKGW |

### 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 | 17,539 | 17,548 | 18,029 | 18,837 | 18,632 |
| Equity | 5,012 | 5,399 | 5,761 | 6,124 | 6,436 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 2,782 | 2,560 | 2,104 | 2,906 | 2,526 |

## 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) | 51.8% | S100YKGW |
| Fixed assets ÷ total assets | 55.4% | S100YKGW |
| Goodwill ÷ parent equity | — | —, S100YKGW |

### 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) | 13.6% |
| Cash ÷ revenue | 12.7% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 69.1% |
| Cash vs. profit gap | 227 JPY mn (of net income 135.4%) |
| Shareholder returns / net income | 69.6% |
| Shareholder returns / FCF | 311.4% |
| Shareholder payments — dividends / net income | 44.5% |
| Shareholder payments — dividends / FCF | 198.8% |
| CapEx intensity (capex ÷ revenue) | 1.8% |
| Investing CF relative to operating CF | 70.4% |

## 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 | 2.9% | 0.95× | 2.8% | 3.67× | 10.2% | S100R8P9 |
| 2023 | 3.2% | 0.93× | 3.0% | 3.53× | 10.5% | S100TSOW |
| 2024 | 2.2% | 0.99× | 2.2% | 3.37× | 7.3% | S100W6S6 |
| 2025 | 2.7% | 1.02× | 2.7% | 3.29× | 9.0% | S100YKGW |
| 2026 | 0.8% | 1.06× | 0.9% | 3.22× | 2.9% | S100YKGW |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ロジスティード㈱ | Major shareholder | 10.1% | 2026-03-31 |
| 花 澤 隆 太 | Major shareholder | 9.4% | 2026-03-31 |
| ㈱富士ロジテックホールディングス | Major shareholder | 9.2% | 2026-03-31 |
| 久保田 純 子 | Major shareholder | 8.8% | 2026-03-31 |
| ㈱プロフィットイノベーション | Major shareholder | 5.8% | 2026-03-31 |
| 久保田 賢 二 | Major shareholder | 3.6% | 2026-03-31 |
| 久保田 晴 夫 | Major shareholder | 3.4% | 2026-03-31 |
| ㈱七十七銀行 | Major shareholder | 3.0% | 2026-03-31 |
| ㈲ハナザワ・コーサン | Major shareholder | 1.6% | 2026-03-31 |
| 久保田 秀 揮 | Major shareholder | 1.6% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第67期(2025/04/01－2026/03/31) | S100YKGW | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YKGW,, |
| 有価証券報告書－第66期(2024/04/01－2025/03/31) | S100W6S6 | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W6S6,, |
| 有価証券報告書－第65期(2023/04/01－2024/03/31) | S100TSOW | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSOW,, |
| 有価証券報告書－第64期(2022/04/01－2023/03/31) | S100R8P9 | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8P9,, |
| 有価証券報告書－第63期(令和3年4月1日－令和4年3月31日) | S100OKUM | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OKUM,, |
| 有価証券報告書－第62期(令和2年4月1日－令和3年3月31日) | S100LSU7 | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LSU7,, |

## 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).