FUKUYAMA TRANSPORTING CO., LTD.

福山通運株式会社

Land Transportation

Fukuyama Transporting Co., Ltd. operates as a logistics company in Japan, China, Vietnam, Hong Kong, Cambodia, Malaysia, and Thailand. It operates through the Transporting, Chartered Transportation Services, Logistics, and International Operations segments. The company offers freight transportation services using approximately 16,000 vehicles that include tractors, trailers, and trucks covering ground, rail, air, and sea modalities. It also provides warehousing, logistics, and processing services; customs clearance and international shipping services; security; staffing; and automobile maintenance services. In addition, the company operates real estate rental, restaurants, convenience stores, insurance and travel agencies, and bowling centers. Additionally, it engages in port operations; sports and recreational facilities management; industrial and household waste collection and disposal; printing; agency for liability insurance; life insurance sales promotion; and product sale and sale on consignment businesses. Fukuyama Transporting Co., Ltd. was incorporated in 1948 and is headquartered in Fukuyama, Japan.

← Companies

Price

¥6,870

Market Cap

¥273.5B

Ent. Value

¥353.5B

Net Debt

−¥80.0B

Shares Out.

39.8M

P / E

31.5×

EV / EBIT

48.0×

P / Book

0.95×

P / NCAV

N/M

Div. Yield

1.02%

Financials

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Net Sales	¥302.5B	¥287.6B	¥293.4B	¥291.3B
Cost of Sales	¥285.6B	¥268.3B	¥263.5B	¥260.9B
Gross Profit	¥16.9B	¥19.3B	¥29.8B	¥30.4B
SG&A	¥9.6B	¥8.8B	¥8.4B	¥8.3B
Operating Income	¥7.4B	¥10.4B	¥21.4B	¥22.1B
Non-Operating Income	¥3.2B	¥2.9B	¥2.1B	¥2.0B
Dividend Income	¥1.8B	¥1.4B	¥1.2B	¥1.1B
Interest Income	¥28M	¥16M	¥5M	¥8M
Non-Operating Expenses	¥694M	¥409M	¥488M	¥940M
Interest Expense	¥474M	¥273M	¥302M	¥314M
Ordinary Income	¥9.9B	¥13.0B	¥23.0B	¥23.2B
Pre-tax Income	¥16.2B	¥12.7B	¥31.0B	¥24.9B
Income Taxes	¥7.5B	¥4.9B	¥10.1B	¥8.0B
Current Tax	¥5.3B	¥4.6B	¥10.8B	¥7.3B
Deferred Tax	¥2.2B	¥302M	¥-702M	¥677M
Net Income (owners)	¥8.7B	¥7.8B	¥20.8B	¥16.8B
Minority Interest	¥-11M	¥-12M	¥70M	¥210M
Comprehensive Income	¥-2.6B	¥28.9B	¥16.8B	¥20.3B
EBITDA	¥26.2B	¥26.1B	¥36.5B	¥39.3B
Goodwill Amort. (J-GAAP)	¥42M	¥34M	¥21M	¥21M
EPS	¥217.85	¥193.56	¥513.72	¥395.34
Shares Outstanding	39.8M	40.6M	40.6M	40.6M
Shares Issued (total)	40.8M	50.8M	50.8M	55.8M
Treasury Shares	1.0M	10.2M	10.1M	15.1M

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	¥500.7B	¥503.4B	¥477.0B	¥478.1B
Current Assets	¥74.0B	¥75.3B	¥88.4B	¥84.1B
Cash & Deposits	¥29.9B	¥29.9B	¥44.9B	¥39.9B
Trade Receivables	¥36.6B	¥37.5B	¥35.6B	¥36.1B
Non-Current Assets	¥426.6B	¥428.1B	¥388.6B	¥394.0B
PP&E	¥357.9B	¥339.8B	¥329.3B	¥327.4B
Goodwill	¥276M	¥319M	¥86M	¥26M
Intangible Assets	¥5.3B	¥4.8B	¥4.5B	¥4.8B
Investment Securities	¥58.0B	¥76.1B	¥47.5B	¥54.9B
Deferred Tax Assets	¥2.3B	¥4.3B	¥4.5B	¥4.0B
Total Liabilities	¥212.9B	¥207.0B	¥206.6B	¥221.8B
Current Liabilities	¥89.8B	¥103.9B	¥78.5B	¥88.8B
Accounts Payable	¥16.0B	¥16.6B	¥15.9B	¥16.2B
ST Debt	¥48.2B	¥61.1B	¥32.4B	¥45.4B
Taxes Payable	¥3.5B	¥2.6B	¥7.2B	¥4.0B
Non-Current Liabilities	¥123.1B	¥103.0B	¥128.1B	¥133.0B
Total LT Borrowings	¥61.7B	¥37.0B	¥68.7B	¥71.6B
Pension Obligations	¥19.9B	¥21.4B	¥24.1B	¥24.1B
Deferred Tax Liab.	¥15.6B	¥19.1B	¥9.8B	¥12.2B
Total Equity	¥287.8B	¥296.4B	¥270.4B	¥256.3B
Capital Stock	¥30.3B	¥30.3B	¥30.3B	¥30.3B
Capital Surplus	¥39.5B	¥39.5B	¥37.6B	¥39.5B
Retained Earnings	¥157.8B	¥188.5B	¥183.5B	¥181.5B
Treasury Stock	¥-4.1B	¥-37.4B	¥-37.5B	¥-55.6B
AOCI	¥62.4B	¥73.8B	¥52.7B	¥56.9B
Equity (owners)	¥223.6B	¥220.8B	¥214.0B	¥195.7B
Minority Interests	¥1.8B	¥1.8B	¥3.7B	¥3.8B

Total Interest-Bearing Debt ⓘ	¥109.9B	¥98.1B	¥101.1B	¥117.0B
Net Cash ⓘ	¥-80.0B	¥-68.2B	¥-56.2B	¥-77.1B
NCAV ⓘ	¥-138.9B	¥-131.7B	¥-118.2B	¥-137.7B
NCAV/Share	¥-3,488	¥-3,242	¥-2,910	¥-3,391
BV/Share	¥5,617	¥5,437	¥5,267	¥4,816

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	¥24.5B	¥18.5B	¥31.0B	¥32.1B
Interest Paid	¥-474M	¥-254M	¥-311M	¥-300M
Interest Received	¥1.8B	¥1.5B	¥1.2B	¥1.1B
D&A	¥18.8B	¥15.6B	¥15.1B	¥17.2B
Goodwill Amort.	¥42M	¥34M	¥21M	¥21M
Investing CF	¥-29.1B	¥-26.8B	¥-7.7B	¥-16.8B
CapEx	¥37.2B	¥25.0B	¥15.8B	¥15.7B
Purchase Investments	¥-522M	¥-1.1B	¥-45M	¥-122M
Proceeds from Invest.	¥9.8B	¥183M	¥9.5B	¥66M
Financing CF	¥5.2B	¥-6.2B	¥-18.6B	¥-12.5B
Dividends Paid	¥-3.0B	¥-2.8B	¥-2.6B	¥-2.4B
Share Buybacks	¥-3.0B	¥-3M	¥-3M	¥-33.9B
LT Debt Repaid	¥-44.7B	¥-21.7B	¥-44.8B	¥-23.0B
Free Cash Flow	¥-12.8B	¥-6.5B	¥15.3B	¥16.5B
Net Change in Cash	¥573M	¥-14.5B	¥4.8B	¥3.0B

Metric	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	3.0%	2.8%	8.0%	6.4%
ROA	1.7%	1.6%	4.4%	3.5%
EPS	¥217.85	¥193.56	¥513.72	¥395.34
DPS	¥70.00	¥75.00	¥70.00	¥60.00
BPS	¥7,207.30	¥7,279.17	¥6,589.57	¥6,239.96
FCF/Share	¥-321	¥-160	¥375	¥406
NCAV/Share	¥-3,488	¥-3,242	¥-2,910	¥-3,391
Payout Ratio	32.1%	38.7%	13.6%	15.2%

Event Timeline

S Shareholder A Capital Signal

Large Shareholder Reports 12

Date	Activist	Stake	Event	Flag	Demands
2025-12-22	Nippon Life Insurance Company	6.46% +0.41%	change	Passive	—
2025-12-04	Sumitomo Mitsui Trust Asset Management Co.,Ltd.	2.19% -3.32%	change	Passive	—
2025-09-19	Sumitomo Mitsui Trust Asset Management Co.,Ltd.	5.51% +0.19%	change	Passive	—
2025-06-05	Sumitomo Mitsui Trust Asset Management Co.,Ltd.	5.32% -1.01%	change	Passive	—
2025-03-07	Deposit Insurance Corporation of Japan	4.24% -1.23%	change	Passive	—
2025-03-06	Sumitomo Mitsui Trust Asset Management Co.,Ltd.	6.33% -1.01%	change	Passive	—
2024-07-09	Deposit Insurance Corporation of Japan	5.47%	correction	Passive	—
2024-07-05	Deposit Insurance Corporation of Japan	5.47%	initial_5pct	Passive	—
2024-07-04	Sumitomo Mitsui Trust Asset Management Co.,Ltd.	7.34% -1.64%	change	Passive	—
2024-06-21	Nippon Life Insurance Company	6.05%	initial_5pct	Passive	—
2024-06-11	THE SHIBUYA IKUEIKAI FOUNDATION	13.8%	change	Passive	—
2024-06-06	Sumitomo Mitsui Trust Asset Management Co.,Ltd.	8.98%	change	Passive	—

Capital Allocation Signals 1

Date	Type	Amount	Summary
2026-05-14 15:30	Div Increase	¥1.3B ¥38.0/sh +9%	Fukuyama Transporting Co., Ltd. announced a year-end dividend of ¥38.00 per share (ordinary dividend), effective June 2,…
Summary Fukuyama Transporting Co., Ltd. announced a year-end dividend of ¥38.00 per share (ordinary dividend), effective June 2, 2026, with a record date of March 31, 2026. This represents an 8.6% increase from the prior year's ¥35.00 per share, and matches the previously forecasted dividend of ¥38.00. The total dividend payout is ¥1,348 million, funded from retained earnings, bringing the full-year dividend to ¥76.00 per share (up 8.6% year-over-year). YoY: +9% Source (JP) 1株当たり配当金 38円00銭（普通配当38円00銭）、配当金総額1,348百万円、効力発生日2026年6月2日剰余金の配当に関するお知らせ TDnet PDF

#	Shareholder	Shares (thou.)	% of Total
1	公益財団法人渋谷育英会	5,590	14.04%
2	Japan Master Trust Bank 日本マスタートラスト信託銀行株式会社（信託口）	3,259	8.19%
3	Nippon Life Insurance 日本生命保険相互会社	2,020	5.07%
4	Custody Bank of Japan, Ltd. (Trust Account) 株式会社日本カストディ銀行（信託口４）	1,813	4.55%
5	株式会社広島銀行	1,762	4.43%
6	福山通運共済会	1,529	3.84%
7	Employee Stock Ownership Plan 福山通運従業員持株会	1,288	3.24%
8	Japan Custody Bank 株式会社日本カストディ銀行（信託口）	1,245	3.13%
9	Sompo Japan Insurance Inc. 損害保険ジャパン株式会社	1,017	2.56%
10	福山通運協力業者持株会	943	2.37%

as of 2025-03-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

15.9%

-2.8% vs 2024

Trust bank custodians — GPIF, pensions, investment trusts

Foreign Custodians

0.0%

+0.0% vs 2024

Sub-custodians for foreign asset managers

Direct / Strategic

35.5%

+1.1% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
公益財団法人渋谷育英会		13.76%	13.76%	14.04% +0.28%
Japan Master Trust Bank 日本マスタートラスト信託銀行		6.59%	7.80%	8.19% +0.39%
Japan Custody Bank 日本カストディ銀行		10.56%	10.84%	7.68% -3.16%
Nippon Life Insurance 日本生命保険		4.97%	4.97%	5.07% +0.10%
式会社広島銀行		4.34%	4.34%	4.43% +0.09%
福山通運共済会		3.29%	3.71%	3.84% +0.13%
Employee Stock Ownership Plan 福山通運従業員持株会		2.75%	2.93%	3.24% +0.31%
Sompo Japan Insurance Inc. 損害保険ジャパン		2.50%	2.50%	2.56% +0.06%
福山通運協力業者持株会 NEW ENTRY		2.29%	—	2.37% NEW
PENTA-OCEAN CONSTRUCTION CO.,LTD. 五洋建設 last seen 2024	Exited Top 10	—	2.25%	—
Concentration (HHI) ⓘ		418	445	406

3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved

Portfolio Book Value ¥53,060M +18% since 2023

Holdings 39 +3 new 19 exited

Trend 2 unwinding vs 2023

Held Company	FY2025 ¥53,060M total		FY2023 ¥44,864M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
TOYOTA MOTOR CORPORATION トヨタ自動車㈱	23,544	-10.0% ↓ 9,000,000	18,800	10,000,000	M
Kotobuki Spirits Co., Ltd. 寿スピリッツ㈱	4,374	+400.0% ↑ 1,800,000	3,373	360,000
Kintetsu Group Holdings Co. 近鉄グループホールディングス㈱	2,996	-10.7% ↓ 939,400	4,486	1,052,000
AEON Co.,Ltd. イオン㈱	2,808	+0.8% ↑ 748,964	1,906	743,050
SEINO HOLDINGS CO.,LTD. セイノーホールディングス㈱	2,564	1,112,000	1,623	1,112,000	M
LEC,INC. レック㈱	2,254	1,896,000	1,526	1,896,000	M
Hirogin Holdings, Inc. ㈱ひろぎんホールディングス	2,122	1,751,803	1,096	1,751,803
Sompo Holdings, Inc. ＳＯＭＰＯホールディングス㈱	1,889	+200.0% ↑ 417,855	731	139,285
CHOFU SEISAKUSHO CO.,LTD. ㈱長府製作所	1,274	692,050	1,539	692,050	M
Sumitomo Realty & Development Co.,Ltd. 住友不動産㈱	1,272	227,500	678	227,500	M
FUJITEC CO., LTD. フジテック㈱	1,057	179,080	588	179,080	M
Chugin Financial Group, Inc. ㈱ちゅうぎんフィナンシャルグループ	801	480,000	426	480,000
CHUDENKO CORPORATION ㈱中電工	744	226,000	482	226,000	M
HONEYS HOLDINGS CO.,LTD. ㈱ハニーズホールディングス	694	421,700	700	421,700
Azbil Corporation アズビル㈱	414	+300.0% ↑ 360,000	324	90,000
Iyogin Holdings,Inc. ㈱いよぎんホールディングス	389	221,649	166	221,649
JICHODO Co.,Ltd. ㈱自重堂	385	39,312	269	39,312	M
Okayamaken Freight Transportation Co.,Ltd 岡山県貨物運送㈱	343	100,000	273	100,000
FUMAKILLALIMITED フマキラー㈱	325	300,000	319	300,000
AEON Financial Service Co.,Ltd. イオンフィナンシャルサービス㈱	312	237,000	292	237,000
ANA HOLDINGSINC. ＡＮＡホールディングス㈱	275	100,000	287	100,000	M
FAST RETAILING CO., LTD. ㈱ファーストリテイリング	264	6,000	173	6,000
フクシマガリレイ㈱（注３）	255	NEW New 92,629	—
Seria Co., Ltd. ㈱セリア	250	100,000	262	100,000
YONDOSHI HOLDINGS INC. ㈱ヨンドシーホールディングス	230	125,000	223	125,000
Fuji Nihon Corporation フジ日本㈱	227	NEW New 219,615	—		M
譬ｪ蠑丈ｼ夂､ｾ繧ｿ繧､繝溘�ｼ㈱タイミー	225	NEW New 150,000	—
譬ｪ蠑丈ｼ夂､ｾ繝｡繝九さ繝ｳ㈱メニコン	164	+380.8% ↑ 131,969	77	27,445
HAGIHARA INDUSTRIES INC. 萩原工業㈱	144	92,700	116	92,700
RYOBI LIMITED リョービ㈱	137	61,600	94	61,600
KING CO.,Ltd. ㈱キング	97	131,000	66	131,000	M
NITTO KOGYO CORPORATION 日東工業㈱	86	+3.1% ↑ 27,648	70	26,810
ISUZU MOTORS LIMITED いすゞ自動車㈱	38	19,161	30	19,161	M
YAMATOINTERNATIONALINC. ヤマトインターナショナル㈱	38	114,100	30	114,100	M
HAMAKYOREX CO.,LTD. ㈱ハマキョウレックス	20	+300.0% ↑ 16,000	12	4,000
Takihyo Co., Ltd. タキヒヨー㈱	17	+9.3% ↑ 12,491	11	11,430
SENKO Group Holdings Co.,Ltd. センコーグループホールディングス㈱	15	10,000	9	10,000
AOYAMA TRADING Co., Ltd. 青山商事㈱	11	5,703	5	5,703
Bansei Electric Co., Ltd. 萬世電機㈱	6	1,500	4	1,500	M
Mitsubishi UFJ Financial Group, Inc. ㈱三菱ＵＦＪフィナンシャル・グループ	—	−100% Exit —	2,050	2,418,000
WACOAL HOLDINGS CORP. ㈱ワコールホールディングス	—	−100% Exit —	529	213,000	M
Japan Post Holdings Co., Ltd. 日本郵政㈱	—	−100% Exit —	342	318,000
フクシマガリレイ㈱	—	−100% Exit —	220	46,094
The San-in Godo Bank,Ltd. ㈱山陰合同銀行	—	−100% Exit —	137	186,500	M
フジ日本精糖㈱	—	−100% Exit —	113	219,615	M
ASICS Corporation ㈱アシックス	—	−100% Exit —	97	26,000
㈱ＬＩＸＩＬグループ	—	−100% Exit —	70	32,590
izumico.,ltd ㈱イズミ	—	−100% Exit —	62	20,000
Mitsuboshi Belting Ltd. 三ツ星ベルト㈱	—	−100% Exit —	47	12,100
Aica Kogyo Company, Limited アイカ工業㈱	—	−100% Exit —	30	10,000
Katakura Industries Co.,Ltd. 片倉工業㈱	—	−100% Exit —	25	13,722
BROTHER INDUSTRIES LTD. ブラザー工業㈱	—	−100% Exit —	23	11,576
LINTEC Corporation リンテック㈱	—	−100% Exit —	21	10,000
KOKUYO CO.,LTD. コクヨ㈱	—	−100% Exit —	14	7,800
TENMAYA STORE CO.,LTD. ㈱天満屋ストア	—	−100% Exit —	12	12,000
譌･譛ｬ陬ｽ邏呎ｪ蠑丈ｼ夂､ｾ日本製紙㈱	—	−100% Exit —	3	3,000
IWABUCHI CORPORATION イワブチ㈱	—	−100% Exit —	2	500
TOKYO SOIR CO.,LTD. ㈱東京ソワール	—	−100% Exit —	1	2,126
Portfolio total	53,060		44,864

Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding