9147
NIPPON EXPRESS HOLDINGS, INC.
ＮＩＰＰＯＮ ＥＸＰＲＥＳＳホールディングス株式会社
Land Transportation
Nippon Express Holdings, Inc., together with its subsidiaries, provides logistics services in Japan, the Americas, Europe, East Asia, South Asia, and Oceania. The company offers railway forwarding, motor cargo transportation, air freight forwarding, harbor transportation, warehousing, in-factory work, information asset management, and real estate rental services; and heavy haulage and construction. It also involved in the provision of security guard services; sale of distribution equipment, wrapping and packaging materials, vehicles, petroleum, and liquefied petroleum gas; vehicle maintenance; insurance agency; mediation; planning, designing and management of real estate properties; investigation and research; logistics finance; and employee dispatching business. The company was formerly known as Nippon Express Co., Ltd. and changed its name to Nippon Express Holdings, Inc. in January 2022. Nippon Express Holdings, Inc. was founded in 1872 and is headquartered in Tokyo, Japan.
Price
¥5,259
Market Cap
¥1.3T
Ent. Value
¥1.4T
Net Debt
−¥93.9B
Shares Out.
242.9M
P / E
487.4×
EV / EBIT
26.6×
P / Book
—
P / NCAV
N/M
Div. Yield
1.90%
Financials
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
|---|---|---|---|---|
| Net Sales | ¥2,574.8B | ¥2,577.6B | ¥2,239.0B | ¥2,618.7B |
| Cost of Sales | ¥2,334.2B | ¥2,356.0B | ¥2,011.5B | ¥2,342.8B |
| Gross Profit | ¥240.7B | ¥221.7B | ¥227.5B | ¥275.8B |
| SG&A | ¥174.7B | ¥158.1B | ¥146.3B | ¥138.3B |
| Operating Income | ¥51.5B | ¥49.1B | ¥60.1B | ¥155.5B |
| Non-Operating Income | ¥6.8B | ¥12.9B | ¥7.4B | ¥9.4B |
| Non-Operating Expenses | ¥16.5B | ¥10.1B | ¥6.2B | ¥4.7B |
| Pre-tax Income | ¥41.8B | ¥51.9B | ¥61.2B | ¥160.2B |
| Net Income (owners) | ¥2.7B | ¥31.7B | ¥37.0B | ¥108.3B |
| Minority Interest | ¥1.5B | ¥1.3B | ¥-1.9B | ¥3.3B |
| Comprehensive Income | ¥52.9B | ¥92.6B | ¥78.5B | ¥162.2B |
| EBITDA | ¥243.3B | ¥232.5B | ¥212.7B | ¥297.0B |
| EPS | ¥10.79 | ¥121.47 | ¥418.58 | ¥1,218.89 |
| Shares Outstanding | 242.9M | 86.7M | 88.0M | 89.3M |
| Shares Issued (total) | 243.0M | 87.0M | 90.6M | 90.6M |
| Treasury Shares | 0.1M | 0.3M | 2.6M | 1.3M |
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥2,415.0B | ¥2,297.1B | ¥2,107.1B | ¥2,075.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥1,033.3B | ¥934.9B | ¥896.1B | ¥907.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥283.4B | ¥251.3B | ¥315.1B | ¥276.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥1,381.7B | ¥1,362.3B | ¥1,211.0B | ¥1,167.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥546.6B | ¥538.7B | ¥535.6B | ¥535.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | ¥64.0B | ¥89.1B | ¥13.5B | ¥2.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥115.9B | ¥97.1B | ¥60.1B | ¥58.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥12.5B | ¥13.9B | ¥16.4B | ¥29.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥1,565.9B | ¥1,424.1B | ¥1,289.3B | ¥1,296.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥759.5B | ¥757.9B | ¥591.1B | ¥695.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥59.5B | ¥136.2B | ¥61.8B | ¥94.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥806.4B | ¥666.2B | ¥698.2B | ¥600.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥317.8B | ¥189.8B | ¥256.0B | ¥170.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥20.3B | ¥11.8B | ¥6.0B | ¥6.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥849.1B | ¥873.0B | ¥817.8B | ¥779.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | — | — | ¥23.3B | ¥22.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥617.3B | ¥669.4B | ¥634.5B | ¥598.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-1.2B | ¥-2.9B | ¥-20.5B | ¥-10.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥143.2B | ¥117.3B | ¥92.6B | ¥75.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥829.5B | ¥853.9B | ¥800.1B | ¥756.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥19.6B | ¥19.1B | ¥17.7B | ¥22.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥377.3B | ¥326.1B | ¥317.8B | ¥265.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥-93.9B | ¥-74.7B | ¥-2.7B | ¥11.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥-532.6B | ¥-489.2B | ¥-393.2B | ¥-388.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥-2,193 | ¥-5,641 | ¥-4,467 | ¥-4,349 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥3,415 | ¥9,846 | ¥9,088 | ¥8,475 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
|---|---|---|---|---|
| Operating CF | ¥208.7B | ¥227.9B | ¥185.7B | ¥295.2B |
| D&A | ¥191.8B | ¥183.4B | ¥152.6B | ¥141.5B |
| Investing CF | ¥-3.2B | ¥-140.7B | ¥-59.3B | ¥4.0B |
| CapEx | ¥68.2B | ¥57.7B | ¥52.7B | ¥44.0B |
| Financing CF | ¥-173.9B | ¥-164.1B | ¥-100.1B | ¥-163.3B |
| Free Cash Flow | ¥140.4B | ¥170.2B | ¥133.0B | ¥251.2B |
| Net Change in Cash | ¥36.9B | ¥-63.7B | ¥38.4B | ¥142.8B |
| Metric |
FY 2025
EDINET ↗ |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
|---|---|---|---|---|
| ROE | 0.3% | 3.8% | 4.6% | 15.9% |
| ROA | 0.1% | 1.4% | 1.8% | 5.2% |
| EPS | ¥10.79 | ¥121.47 | ¥418.58 | ¥1,218.89 |
| DPS | ¥100.00 | ¥300.00 | ¥300.00 | ¥400.00 |
| BPS | — | — | — | ¥8,391.95 |
| FCF/Share | ¥578 | ¥1,962 | ¥1,511 | ¥2,814 |
| NCAV/Share | ¥-2,193 | ¥-5,641 | ¥-4,467 | ¥-4,349 |
| Payout Ratio | 926.8% | 247.0% | 71.7% | 32.8% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 26
Capital Allocation Signals 1
| Date | Type | Amount | Summary | |
|---|---|---|---|---|
|
2026-05-13
15:30
|
Buyback | ¥50.0B 7.0% | Nippon Express HOLDINGS, (9147) board resolved on May 13, 2026 to acquire up to 17.0 million shares (7.0% of outstanding… | |
|
Summary
Nippon Express HOLDINGS, (9147) board resolved on May 13, 2026 to acquire up to 17.0 million shares (7.0% of outstanding) for a maximum of ¥50 billion via market purchase through November 30, 2026. This is the first tranche of a broader ¥110-160 billion share buyback program, with all acquired shares to be cancelled. The buyback supports the company's ROE 10%+ target by 2028 under its NX Group Management Plan 2028.
Deadline: 2026-11-30
% of Shares: 7.0%
Shares: 17,000,000
Source (JP)
上記取組みにおいて、資本・還元政策としている自己株式取得計画（1,100億円～1,600億円）に基づき、今回500億円（上限）の自己株式を取得し、計画どおり1,100億円を実現します。なお、取得した株式については、全株消却する予定としております。
自己株式取得に係る事項の決定に関するお知らせ
TDnet PDF
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| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
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）
|
35,630 | 14.70% |
| 2 |
Asahi Mutual Life Insurance
朝日生命保険相互会社
|
16,805 | 6.90% |
| 3 |
Japan Custody Bank
株式会社日本カストディ銀行（信託口）
|
13,114 | 5.40% |
| 4 |
NX Stock Ownership Plan
ＮＸ持株会
|
11,633 | 4.80% |
| 5 |
Sompo Japan Insurance Inc.
損害保険ジャパン株式会社
|
6,665 | 2.70% |
| 6 | UBS AG LONDON A/C IPB SEGREGATED CLIENT ACCOUNT(常任代理人 シティバンク、エヌ・エイ東京支店) | 6,552 | 2.70% |
| 7 | BNP PARIBAS NEW YORK BRANCH - PRIME BROK ERAGE CLEARANCE ACCOUNT(常任代理人 香港上海銀行東京支店) | 6,162 | 2.50% |
| 8 | JPモルガン証券株式会社 | 4,364 | 1.80% |
| 9 |
Custody Bank of Japan, Ltd. (Trust Account)
みずほ信託銀行株式会社 退職給付信託 みずほ銀行口 再信託受託者 株式会社日本カストディ銀行
|
4,350 | 1.80% |
| 10 |
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505001(常任代理人 株式会社みずほ銀行決済営業部)
|
4,067 | 1.70% |
as of 2025-12-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
21.9%
-2.3% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
1.7%
+1.7% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
21.4%
+1.7% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 45.0% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Japan Master Trust Bank 日本マスタートラスト信託銀行 | 14.50% | 14.60% | 14.70% +0.10% | |
| Japan Custody Bank 日本カストディ銀行 | 10.60% | 9.60% | 7.20% -2.40% | |
| Asahi Mutual Life Insurance 朝日生命保険相互会社 | 6.40% | 6.50% | 6.90% +0.40% | |
| NX Stock Ownership Plan ＮＸ持株会 | 4.60% | 4.80% | 4.80% | |
| Sompo Japan Insurance Inc. 損害保険ジャパン | 4.10% | 2.60% | 2.70% +0.10% | |
| UBS NEW ENTRY | — | — | — | 2.70% NEW |
| BNP PARIBAS NEW YORK BRANCH - PRIME BROK ERAGE CLEARANCE ACCOUNT NEW ENTRY | — | — | — | 2.50% NEW |
| JPモルガン証券 NEW ENTRY | — | — | — | 1.80% NEW |
| State Street NEW ENTRY | 1.70% | — | 1.70% NEW | |
| ＪＰモルガン証券 last seen 2024 | Exited Top 10 | 1.60% | 1.80% | — |
| Nomura Trust & Banking 野村信託銀行株式会社（投信口） last seen 2024 | Exited Top 10 | — | 1.50% | — |
| SMBC Nikko Securities ＳＭＢＣ日興証券 last seen 2024 | Exited Top 10 | — | 1.40% | — |
| Barclays last seen 2024 | Exited Top 10 | — | 1.10% | — |
| 日野自動車 last seen 2023 | Exited Top 10 | 1.00% | — | — |
| JP Morgan last seen 2023 | Exited Top 10 | 1.10% | — | — |
| Concentration (HHI) ⓘ | 409 | 386 | 366 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥24,611M
-46% since 2023
Holdings
39
+3 new
10 exited
Trend
1 unwinding
vs 2023
| Held Company | FY2025 ¥24,611M total | FY2023 ¥45,858M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
TOKYO OHKA KOGYO CO., LTD.
東京応化工業㈱
|
2,796 |
+200.0%
↑
481,800
|
1,499 | 160,600 | M |
|
JAPAN TOBACCO INC.
日本たばこ産業㈱
|
2,628 |
466,000
|
1,698 | 466,000 | M |
|
ORIENTAL LAND CO.,LTD.
㈱オリエンタルランド
|
2,318 |
800,000
|
4,200 | 800,000 | |
|
SEINO HOLDINGS CO.,LTD.
セイノーホールディングス㈱
|
2,037 |
865,000
|
1,849 | 865,000 | M |
|
ANA HOLDINGSINC.
ANAホールディングス㈱
|
2,031 |
NEW
New
682,000
|
— | M | |
|
ADEKA CORPORATION
㈱ＡＤＥＫＡ
|
1,936 |
499,600
|
1,432 | 499,600 | |
|
OLYMPUS CORPORATION
オリンパス㈱
|
1,587 |
800,000
|
1,632 | 800,000 | |
|
Nippon Beet Sugar Manufacturing Co.,Ltd.
日本甜菜製糖㈱
|
1,226 |
320,288
|
625 | 320,288 | M |
|
YAMATO HOLDINGS CO.,LTD.
ヤマトホールディングス㈱
|
1,188 |
538,000
|
1,401 | 538,000 | M |
|
NISSHIN SEIFUN GROUP INC.
㈱日清製粉グループ本社
|
1,177 |
-50.0%
↓
612,730
|
2,327 | 1,225,730 | M |
|
MINEBEA MITSUMI Inc.
ミネベアミツミ㈱
|
1,023 |
326,000
|
944 | 326,000 | |
|
CASIO COMPUTER CO.,LTD.
カシオ計算機㈱
|
771 |
607,461
|
743 | 607,461 | |
| 台湾宅配通股份有限公司 | 580 |
NEW
New
4,441,000
|
— | ||
|
YAKULT HONSHA CO.,LTD.
㈱ヤクルト本社
|
567 |
231,660
|
733 | 231,660 | |
|
Toyo Kanetsu Co., Ltd.
トーヨーカネツ㈱
|
496 |
100,000
|
387 | 100,000 | M |
|
CHIYODA CORPORATION
千代田化工建設㈱
|
386 |
525,596
|
179 | 525,596 | |
|
NIPPON PALLET POOL CO.,LTD.
日本パレットプール㈱
|
305 |
180,000
|
376 | 180,000 | 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
|
296 |
92,376
|
150 | 92,376 | |
|
The Kiyo Bank, Ltd.
㈱紀陽銀行
|
274 |
84,161
|
132 | 84,161 | |
|
The Shikoku Bank, Ltd.
㈱四国銀行
|
165 |
94,289
|
90 | 94,289 | M |
|
JGC HOLDINGS CORPORATION
日揮ホールディングス㈱
|
150 |
79,061
|
128 | 79,061 | |
|
OKAMURA CORPORATION
㈱オカムラ
|
114 |
50,000
|
109 | 50,000 | |
|
MEIDENSHA CORPORATION
㈱明電舎
|
111 |
20,000
|
48 | 20,000 | |
|
The Ehime Bank, Ltd.
㈱愛媛銀行
|
90 |
60,908
|
61 | 60,908 | M |
|
ITO EN,LTD.
㈱伊藤園
|
67 |
22,000
|
94 | 22,000 | |
|
Hakuto Co.,Ltd.
伯東㈱
|
49 |
12,705
|
68 | 12,705 | |
|
TOYO ENGINEERING CORPORATION
東洋エンジニアリング㈱
|
38 |
12,623
|
9 | 12,623 | |
|
Fukuoka Financial Group, Inc.
㈱ふくおかフィナンシャルグループ
|
35 |
6,997
|
23 | 6,997 | |
|
KVK CORPORATION
㈱ＫＶＫ
|
33 |
13,985
|
23 | 13,985 | |
|
nichicon corporation
ニチコン㈱
|
32 |
20,000
|
25 | 20,000 | |
|
THE SHIGA BANK,LTD.
㈱滋賀銀行
|
30 |
4,258
|
14 | 4,258 | |
|
THE TOTTORIBANK,LTD.
㈱鳥取銀行
|
15 |
10,000
|
13 | 10,000 | |
| ㈱伊藤園 第1種 優先 | 12 |
6,600
|
12 | 6,600 | |
|
CORONA CORPORATION
㈱コロナ
|
11 |
12,100
|
11 | 12,100 | |
|
Joshin Denki Co., Ltd.
上新電機㈱
|
11 |
4,200
|
10 | 4,200 | |
|
THE BANK OF KOCHI,LTD
㈱高知銀行
|
10 |
11,000
|
10 | 11,000 | M |
|
Torigoe Flour Milling Co.
鳥越製粉㈱
|
10 |
10,000
|
6 | 10,000 | |
|
Nissha Co., Ltd.
NISSHA㈱
|
4 |
NEW
New
3,597
|
— | ||
|
THE DAITO BANK, LTD.
㈱大東銀行
|
2 |
3,000
|
2 | 3,000 | |
|
CANON INC.
キヤノン㈱
|
— |
−100%
Exit
—
|
6,131 | 1,693,792 | M |
|
Suruga Bank Ltd.
スルガ銀行㈱
|
— |
−100%
Exit
—
|
737 | 946,176 | M |
|
Lion Corporation
ライオン㈱
|
— |
−100%
Exit
—
|
663 | 507,000 | M |
|
Sompo Holdings, Inc.
ＳＯＭＰＯホールディングス㈱
|
— |
−100%
Exit
—
|
11,365 | 1,648,121 | M |
|
ANA HOLDINGSINC.
ＡＮＡホールディングス㈱
|
— |
−100%
Exit
—
|
2,086 | 682,000 | M |
|
The 77Bank,Ltd.
㈱七十七銀行
|
— |
−100%
Exit
—
|
1,479 | 425,220 | M |
|
KAJIMA CORPORATION
鹿島建設㈱
|
— |
−100%
Exit
—
|
1,432 | 607,753 | M |
| Taiwan Pelican Express Co.,Ltd. | — |
−100%
Exit
—
|
842 | 4,441,000 | |
|
ISEKI&CO.,LTD.
井関農機㈱
|
— |
−100%
Exit
—
|
56 | 52,391 | M |
|
Nissha Co., Ltd.
ＮＩＳＳＨＡ㈱
|
— |
−100%
Exit
—
|
4 | 2,770 | |
| Portfolio total | 24,611 | 45,858 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding