SG Holdings Co., Ltd.

ＳＧホールディングス株式会社

Land Transportation

SG Holdings Co.,Ltd., through its subsidiaries, is involved in the delivery, logistics, real estate, and other businesses in Japan and internationally. It provides domestic or international delivery services; logistics solutions, including warehouse storage, needle detection and product inspection, and logistics processing to sea, air, and land transport; and international transport, customs clearance, and regional transport and delivery services. The company also operates, manages, and leases real estate facilities; and engages in solar energy business. In addition, it develops, operates, and maintains in IT systems; operates temporary staffing business; and operates casualty insurance agency for transport operations and truck fuel sales, as well as car maintenance and system sales and maintenance. SG Holdings Co.,Ltd. was founded in 1957 and is headquartered in Kyoto, Japan.

← Companies

Price

¥1,448

Market Cap

¥906.0B

Ent. Value

¥1.2T

Net Debt

−¥253.2B

Shares Out.

625.5M

P / E

14.8×

EV / EBIT

12.8×

P / Book

1.58×

P / NCAV

N/M

Div. Yield

1.79%

Financials

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Total Assets	¥1,229.0B	¥1,040.6B	¥897.0B	¥905.0B	¥921.8B
Current Assets	¥383.5B	¥370.6B	¥397.4B	¥406.5B	¥389.7B
Cash & Deposits	¥96.7B	¥116.9B	¥147.3B	¥178.2B	¥87.4B
Trade Receivables	—	¥195.0B	¥183.6B	¥179.6B	¥237.3B
Non-Current Assets	¥845.5B	¥670.0B	¥499.7B	¥498.4B	¥532.1B
PP&E	¥544.4B	¥488.5B	¥387.9B	¥392.2B	¥387.3B
Goodwill	—	¥64.7B	¥8.4B	¥12.1B	¥2.3B
Intangible Assets	—	¥104.9B	¥40.9B	¥37.9B	¥24.5B
Investment Securities	¥25.6B	¥28.0B	¥21.5B	¥20.4B	¥72.7B
Deferred Tax Assets	—	¥17.0B	¥21.6B	¥21.0B	¥21.6B
Total Liabilities	¥680.3B	¥456.0B	¥306.8B	¥337.6B	¥409.9B
Current Liabilities	¥445.3B	¥222.6B	¥218.3B	¥228.9B	¥277.9B
ST Debt	¥223.9B	¥29.1B	¥45.0B	¥34.1B	¥56.7B
Taxes Payable	—	¥18.2B	¥4.7B	¥34.2B	¥29.1B
Non-Current Liabilities	¥235.1B	¥233.4B	¥88.5B	¥108.6B	¥132.0B
Total LT Borrowings	¥126.0B	¥139.1B	¥13.2B	¥41.7B	¥60.1B
Pension Obligations	—	¥42.9B	¥36.5B	¥35.8B	¥35.9B
Deferred Tax Liab.	—	—	—	—	¥9.4B
Total Equity	¥548.7B	¥584.6B	¥590.3B	¥567.4B	¥511.9B
Capital Stock	—	¥11.9B	¥11.9B	¥11.9B	¥11.9B
Capital Surplus	—	—	¥16M	—	¥69M
Retained Earnings	¥567.4B	¥570.3B	¥568.4B	¥542.7B	¥458.2B
Treasury Stock	—	¥-21.1B	¥-21.1B	¥-11.2B	¥-1.2B
AOCI	—	¥19.1B	¥18.4B	¥10.4B	¥27.3B
Equity (owners)	¥513.1B	¥561.0B	¥559.1B	¥543.5B	¥469.0B
Minority Interests	—	¥4.4B	¥12.8B	¥13.5B	¥15.6B

Total Interest-Bearing Debt ⓘ	¥349.9B	¥168.2B	¥58.2B	¥75.7B	¥116.8B
Net Cash ⓘ	¥-253.2B	¥-51.4B	¥89.1B	¥102.5B	¥-29.4B
NCAV ⓘ	¥-296.9B	¥-85.5B	¥90.6B	¥69.0B	¥-20.2B
NCAV/Share	—	¥-137	¥145	¥109	¥-32
BV/Share	—	¥897	¥894	¥862	¥738

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
Operating CF	¥124.8B	¥118.6B	¥77.6B	¥165.4B	¥81.8B
Taxes Paid	—	¥-15.3B	—	—	—
Interest Paid	—	¥-1.9B	¥-1.1B	¥-1.2B	¥-1.4B
Interest Received	—	¥1.4B	¥1.3B	¥855M	¥880M
D&A	¥47.6B	¥40.1B	¥34.8B	¥32.4B	¥30.3B
Goodwill Amort.	—	¥3.5B	¥2.0B	¥396M	¥2.7B
Investing CF	¥-216.8B	¥-164.7B	¥-41.4B	¥28.0B	¥-45.3B
CapEx	¥79.2B	¥48.8B	¥35.2B	¥24.6B	¥53.3B
Purchase Investments	—	¥-18M	¥-6M	¥-302M	¥-436M
Proceeds from Invest.	—	¥34M	¥1M	¥72.1B	¥15.1B
Financing CF	¥65.8B	¥14.0B	¥-70.3B	¥-105.5B	¥-25.4B
Dividends Paid	—	¥-31.9B	¥-32.6B	¥-34.9B	¥-23.5B
Share Buybacks	—	¥0M	¥-10.0B	¥-10.0B	—
LT Debt Repaid	—	¥-31.6B	¥-20.9B	¥-26.4B	¥-24.1B
Free Cash Flow	¥45.6B	¥69.8B	¥42.4B	¥140.7B	¥28.6B
Net Change in Cash	—	¥-30.4B	¥-31.0B	¥90.9B	¥18.2B

Metric	FY 2025 TDnet	FY 2024 EDINET ↗	FY 2023 EDINET ↗	FY 2022 EDINET ↗	FY 2021 EDINET ↗
ROE	10.4%	10.0%	10.3%	24.1%	23.9%
ROA	5.2%	6.0%	6.5%	13.9%	11.6%
EPS	¥98.17	¥92.92	¥92.98	¥199.56	¥168.02
DPS	¥26.00	¥52.00	¥51.00	¥51.00	¥50.00
BPS	¥915.31	¥927.54	¥923.33	¥878.84	¥781.33
FCF/Share	—	¥112	¥68	¥223	¥45
NCAV/Share	—	¥-137	¥145	¥109	¥-32
Payout Ratio	26.5%	56.0%	54.9%	25.6%	29.8%

Event Timeline

S Shareholder A Capital Signal

Large Shareholder Reports 4

Date	Activist	Stake	Event	Flag	Demands
2025-07-23	Sumitomo Mitsui DS Asset Management Company, Limited	5.04%	initial_5pct	Passive	—
2024-07-29	Mitsubishi UFJ Financial Group Inc.	5.25%	change	Passive	—
2024-06-21	SHINSEI HOLDINGS CO.,LTD	16.83%	change	Passive	—
2024-06-21	SHINSEI HOLDINGS CO.,LTD	16.83%	correction	Passive	—

Capital Allocation Signals 1

Date	Type	Amount	Summary
2026-05-21 15:30	Div Increase	¥16.2B ¥27.0/sh +4%	SG Holdings announced a year-end dividend of ¥27.00 per share for fiscal year ending March 31, 2026 (record date March 3…
Summary SG Holdings announced a year-end dividend of ¥27.00 per share for fiscal year ending March 31, 2026 (record date March 31, 2026), payable from retained earnings on June 8, 2026. This represents a modest increase of ¥1.00 per share (+3.85%) from the prior year's ¥26.00, with total dividend outlay of ¥16.216 billion. The company maintains its progressive dividend policy targeting a 60%+ total shareholder return ratio (dividends + buybacks) over the medium-term plan period. YoY: +4% Source (JP) 2026年３月期の期末配当につきましては１株当たり27円といたしました。...配当及び自己株式取得を通じた３ヵ年累計で総還元性向60％以上を目標とし剰余金の配当に関するお知らせ TDnet PDF

#	Shareholder	Shares (thou.)	% of Total
1	株式会社新生ホールディングス	107,771	17.23%
2	The Master Trust Bank of Japan, Ltd. (Trust Account) 日本マスタートラスト信託銀行株式会社(信託口)	52,422	8.38%
3	公益財団法人ＳＧＨ文化スポーツ振興財団	48,400	7.73%
4	Sumitomo Life Insurance 住友生命保険相互会社	25,200	4.02%
5	Mitsui Sumitomo Insurance Company, Limited 三井住友海上火災保険株式会社	25,200	4.02%
6	佐川印刷株式会社	22,816	3.64%
7	Custody Bank of Japan, Ltd. (Trust Account) 株式会社日本カストディ銀行(信託口)	22,005	3.51%
8	MUFG Bank 株式会社三菱ＵＦＪ銀行	20,750	3.31%
9	Sumitomo Mitsui Banking Corporation 株式会社三井住友銀行	20,750	3.31%
10	田中産業株式会社	20,220	3.23%

as of 2025-03-31 Source: EDINET ↗

Ownership by year — hover bars for detail

Domestic Nominees

11.9%

-0.1% 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

46.5%

+0.0% vs 2024

Named entities with disclosed investment intent

Shareholder	Trend	2023	2024	2025
式会社新生ホールディングス NEW ENTRY	—	—	—	17.23% NEW
Japan Master Trust Bank 日本マスタートラスト信託銀行		9.66%	8.28%	8.38% +0.10%
公益財団法人ＳＧＨ文化スポーツ振興財団		7.68%	7.73%	7.73%
Mitsui Sumitomo Insurance Company, Limited 三井住友海上火災保険		3.99%	4.02%	4.02%
Sumitomo Life Insurance 住友生命保険		3.99%	4.02%	4.02%
佐川印刷		3.62%	3.64%	3.64%
Japan Custody Bank 日本カストディ銀行		3.91%	3.75%	3.51% -0.24%
MUFG Bank 式会社三菱ＵＦＪ銀行		3.29%	3.31%	3.31%
Sumitomo Mitsui Banking Corporation 三井住友銀行		3.29%	3.31%	3.31%
田中産業		3.17%	3.19%	3.23% +0.04%
新生興産 last seen 2024	Exited Top 10	17.10%	17.23%	—
Concentration (HHI) ⓘ		537	517	517

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

Portfolio Book Value ¥10,476M +18% since 2023

Holdings 10 +1 new 1 exited

Trend 1 building vs 2023

Held Company	FY2025 ¥10,476M total		FY2023 ¥8,899M total
	Book Val ¥M	Shares	Book Val ¥M	Shares
Future Corporation フューチャー㈱	6,940	4,000,000	7,276	4,000,000	M
Mitsubishi UFJ Financial Group, Inc. ㈱三菱ＵＦＪフィナンシャル・グループ	1,383	688,000	583	688,000
Sumitomo Mitsui Financial Group, Inc. ㈱三井住友フィナンシャルグループ	1,075	+200.0% ↑ 283,500	500	94,500
Hokuhoku Financial Group, Inc. ㈱ほくほくフィナンシャルグループ	334	130,300	120	130,300
Hirogin Holdings, Inc. ㈱ひろぎんホールディングス	230	190,000	118	190,000
Kyoto Financial Group, Inc. ㈱京都フィナンシャルグループ	200	NEW New 88,000	—		M
譬ｪ蠑丈ｼ夂､ｾ隘ｿ譌･譛ｬ繝輔ぅ繝翫Φ繧ｷ繝｣繝ｫ繝帙�ｼ繝ｫ繝�繧｣繝ｳ繧ｰ繧ｹ㈱西日本フィナンシャルホールディングス	167	80,000	87	80,000
第一生命ホールディングス㈱	141	31,200	75	31,200
Resona Holdings, Inc. ㈱りそなホールディングス	6	5,112	3	5,112
㈱日立物流（注）４	—		—
The Bank of Kyoto ㈱京都銀行	—	−100% Exit —	137	22,000	M
Portfolio total	10,476		8,899

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