SG HoldingsSG Holdings Co., Ltd.9143東証プライム陸運業FY ending Mar 2026, consolidated, J-GAAP

SG Holdings FY ending Mar 2026 results

About 64% of SG Holdings's sales come from Delivery, with Global logistics and Logistics making up much of the rest.

Out of every ¥100 of sales, about ¥5 is left as operating profit.

Revenue changed +11.2% from the prior year, operating profit +2.7%.

Revenue and profit pattern

Revenue and profit upRevenue grew faster

Revenue +11.2% · profit +2.7%, calculated from disclosed figures.

Operating leverage: 0.24× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue: +11.2%¥1.48T → ¥1.64T
Operating income: +2.7%¥87.8B → ¥90.2B
Net income attributable to owners: +1.6%¥58.1B → ¥59.1B
Operating cash flow: +5.2%¥118.6B → ¥124.8B
Free cash flow: -37.4%¥65.4B → ¥40.9B

Results at a glance

Revenue for the FY ending Mar 2026 was ¥1.64T, up 11.2% from ¥1.48T the year before.
Operating income grew 2.7% to ¥90.2B, and net income attributable to owners rose 1.6% to ¥59.1B. Profit grew much more slowly than sales.
Free cash flow dropped 37.4%, from ¥65.4B to ¥40.9B.

What drove the change

Most of the sales growth came from consolidating Meito Transportation, Hutech Norin and the newly acquired Morrison
In Delivery, parcel volumes rose, led by cross-border e-commerce. More small parcels pushed the average price down, but pricing set deal by deal kept the segment's margin steady
In Global logistics, U.S. trade policy cut Expolanka's freight rates and volumes, and the segment's operating income fell

Things to watch

Much of the delivery work is outsourced to partner carriers; a shortage of partners or rising subcontracting costs could push up expenses
Competition among the major parcel carriers is intense, and price cuts would hurt results
An unexpected surge in parcels once forced it to pause pickups and caused delays; repeated problems like this could damage trust in the service

Annual Securities Report, 20th fiscal period (Apr 2025 – Mar 2026) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report, 20th fiscal period (Apr 2025 – Mar 2026) / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

※ Cost of revenue is not disclosed; expenses are combined

Where ¥100 of sales goes

For every ¥100 SG Holdings sells, how much goes where, and how much is kept.

FY ending Mar 2026

Operating costs: ¥95
Operating profit: ¥5
Net profit kept: ¥4

Annual margin trends

Operating margin5.5%

Net margin3.6%

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Delivery¥1.05T
64%
Op. margin 6.7%Industry: Trucking & Parcel Delivery
Global logistics¥321.6B
20%
Op. margin 0.0%Industry: Trucking & Parcel Delivery
Logistics¥202.8B
12%
Op. margin 3.1%Industry: Warehouses & Logistics Facilities
Other¥56.4B
3%
Op. margin 4.7%
Real estate¥15.4B
1%
Op. margin 67.2%Industry: Real Estate Development & Leasing

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

EDINET (FSA Japan)
有価証券報告書－第20期(2025/04/01－2026/03/31)
ID S100Y9P72026-06-10Open
EDINET (FSA Japan)
有価証券報告書－第19期(2024/04/01－2025/03/31)
ID S100W6EF2025-06-26Open
EDINET (FSA Japan)
有価証券報告書－第18期(2023/04/01－2024/03/31)
ID S100TWLI2024-06-27Open
EDINET (FSA Japan)
有価証券報告書－第17期(2022/04/01－2023/03/31)
ID S100R4RK2023-06-26Open
EDINET (FSA Japan)
有価証券報告書－第16期(令和3年4月1日－令和4年3月31日)
ID S100OLAQ2022-06-29Open
EDINET (FSA Japan)
有価証券報告書－第15期(令和2年4月1日－令和3年3月31日)
ID S100LT3H2021-06-28Open

Extracted from XBRL: 50 / Derived from other figures: 1

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