HYOKI KAIUN KAISHA,LTD.

9362 兵機海運株式会社

Marine Shipping · Standard · TSE: Disclosed

PRICE: ¥3,475 · MKT CAP: ¥4.3B · P/E: 10.5x · P/B: 0.74x · DIV YIELD: 3.3%

PRICE — 5Y

Characteristics & Business Summary

Hyoki Kaiun Kaisha, Ltd. provides shipping services in Japan and internationally. It operates in two segments, Shipping Business, and Port and Warehousing Business. The company offers transport steel for construction, as well as various cargo, including heavy...

Income Statement Highlights (¥ Million, except EPS/DPS in ¥)

Fiscal Period	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Net Sales	13,001	16,087	18,387	14,636	13,726	13,389	14,500
Operating Profit	186	488	548	519	548	436	510
Ordinary Profit	209	523	609	678	618	499	—
Net Profit	324	358	442	512	435	397	400
EPS	¥279	¥307	¥377	¥418	¥355	¥324	—
DPS	¥50	¥92	¥115	¥130	¥115	¥110	—

Balance Sheet & Valuation Highlights

Total Assets ¥13B

Net Assets (Equity) ¥6B

Equity Ratio 43.3%

ROE (Return on Equity) 10.0%

Cash & Equivalents ¥2B

Interest-Bearing Debt ¥5B

Capital Expenditure (CapEx) ¥0B

Depreciation & Amort. ¥0B

Major Shareholders

1. 大和工業株式会社 14.6%
2. 堂島汽船株式会社 10.0%
3. ふたば会 5.3%
4. 株式会社富洋海運 4.5%
5. 有限会社山広運輸興業 2.6%
6. Employee Stock Ownership Plan 2.5%
7. 大東洋治 2.2%
8. Nomura Securities Co., Ltd. 1.8%
9. 平井清隆 1.7%
10. 虹技株式会社 1.2%

Activist Activity

Dojima Kisen Co.,Ltd 15.23%

2026-05-18 · change

Yamahiro Transport Ltd. 7.52%

2026-04-24 · correction

Yamahiro Transport Ltd. 7.52%

2026-04-16 · initial_5pct

YAMATO KOGYO CO., LTD. 19.41%

2025-06-23 · change

YAMATO KOGYO CO., LTD. 18.4%

2025-06-06 · change

Historical Per-Share Data & Valuation Ratios

Per Share Metric	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Revenues per share	¥11,207	¥13,786	¥15,678	¥11,958	¥11,214	¥10,939	—
FCF/Share	¥681	¥542	¥661	¥733	¥620	¥127	—
EPS	¥279	¥307	¥377	¥418	¥355	¥324	—
DPS	¥50	¥92	¥115	¥130	¥115	¥110	—
Capital Spending per share	¥0	¥0	¥0	¥9	¥96	¥298	—
Book Value per share	¥2,224	¥2,474	¥2,753	¥2,782	¥3,023	¥3,244	—
Common Shares Outstanding	1M	1M	1M	1M	1M	—	—

Financial Aggregates & Margins

Financial Aggregate	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Revenues (Net Sales)	¥13B	¥16B	¥18B	¥15B	¥14B	¥13B	¥14B
Operating Margin (%)	1.4%	3.0%	3.0%	3.5%	4.0%	3.3%	3.5%
Net Profit (owners)	¥0B	¥0B	¥0B	¥1B	¥0B	¥0B	¥0B
Net Profit Margin (%)	2.5%	2.2%	2.4%	3.5%	3.2%	3.0%	2.8%
Working Capital	¥-5B	¥-5B	¥-5B	¥-4B	¥-4B	¥-4B	—
Total Debt (Interest-bearing)	¥6B	¥7B	¥6B	¥6B	¥5B	¥5B	—
Net Worth (Common Equity)	¥3B	¥3B	¥3B	¥3B	¥4B	¥4B	—
Return on Total Assets (ROA)	2.8%	2.8%	3.5%	4.0%	3.5%	3.0%	—
Return on Common Equity (ROE)	12.6%	12.4%	13.7%	15.0%	11.8%	10.0%	—

Business Summary & Analysis

Capital Strategy Targets

No active capital policy disclosure records found.