Announcement • Jun 06
AZ-COM MARUWA Holdings Inc. to Report Q1, 2027 Results on Aug 05, 2026 AZ-COM MARUWA Holdings Inc. announced that they will report Q1, 2027 results on Aug 05, 2026 Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 9 non-independent directors. Independent Outside Director Masahito Kamijo was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 11
AZ-COM MARUWA Holdings Inc., Annual General Meeting, Jun 25, 2026 AZ-COM MARUWA Holdings Inc., Annual General Meeting, Jun 25, 2026. Announcement • May 09
AZ-COM MARUWA Holdings Inc. to Report Fiscal Year 2026 Results on May 11, 2026 AZ-COM MARUWA Holdings Inc. announced that they will report fiscal year 2026 results on May 11, 2026 Announcement • Dec 06
AZ-COM MARUWA Holdings Inc. to Report Q3, 2026 Results on Feb 05, 2026 AZ-COM MARUWA Holdings Inc. announced that they will report Q3, 2026 results on Feb 05, 2026 Announcement • Sep 25
AZ-COM MARUWA Holdings Inc. to Report Q2, 2026 Results on Nov 05, 2025 AZ-COM MARUWA Holdings Inc. announced that they will report Q2, 2026 results on Nov 05, 2025 Announcement • Jun 19
AZ-COM MARUWA Holdings Inc. to Report Q1, 2026 Results on Aug 05, 2025 AZ-COM MARUWA Holdings Inc. announced that they will report Q1, 2026 results on Aug 05, 2025 Announcement • Mar 12
AZ-COM MARUWA Holdings Inc. to Report Fiscal Year 2025 Results on May 12, 2025 AZ-COM MARUWA Holdings Inc. announced that they will report fiscal year 2025 results on May 12, 2025 Announcement • Dec 18
AZ-COM MARUWA Holdings Inc. to Report Q3, 2025 Results on Feb 05, 2025 AZ-COM MARUWA Holdings Inc. announced that they will report Q3, 2025 results on Feb 05, 2025 Announcement • Nov 23
AZ-COM MARUWA Holdings Inc. (TSE:9090) entered into share transfer agreement to acquire Lufi.Co., Ltd. from Ryuji Hirota and Yasuaki Watanabe. AZ-COM MARUWA Holdings Inc. (TSE:9090) entered into share transfer agreement to acquire Lufi.Co., Ltd. from Ryuji Hirota and Yasuaki Watanabe on November 21, 2024. For the period ending November 30, 2023, Lufi.Co., Ltd. reported total revenue of ¥3.53 billion, EBIT of ¥146 million and net income of ¥147 million. As of November 30, 2023, Lufi.Co., Ltd. reported total assets of ¥1.24 billion and total common equity of ¥636 million. The expected completion of the transaction is November 29, 2024. Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: JP¥12.04 (vs JP¥19.29 in 2Q 2024) Second quarter 2025 results: EPS: JP¥12.04 (down from JP¥19.29 in 2Q 2024). Revenue: JP¥51.8b (up 5.6% from 2Q 2024). Net income: JP¥1.62b (down 33% from 2Q 2024). Profit margin: 3.1% (down from 5.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Logistics industry in Europe. Announcement • Sep 23
AZ-COM MARUWA Holdings Inc.(TSE:9090) dropped from FTSE All-World Index (USD) AZ-COM MARUWA Holdings Inc.(TSE:9090) dropped from FTSE All-World Index (USD) Upcoming Dividend • Sep 20
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (2.8%). Announcement • Sep 13
AZ-COM MARUWA Holdings Inc. to Report Q2, 2025 Results on Nov 05, 2024 AZ-COM MARUWA Holdings Inc. announced that they will report Q2, 2025 results on Nov 05, 2024 Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥9.07 (vs JP¥16.82 in 1Q 2024) First quarter 2025 results: EPS: JP¥9.07 (down from JP¥16.82 in 1Q 2024). Revenue: JP¥49.7b (up 4.5% from 1Q 2024). Net income: JP¥1.22b (down 42% from 1Q 2024). Profit margin: 2.5% (down from 4.5% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Shareholders have been diluted in the past year (7.2% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €7.40, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Logistics industry in Europe. Total loss to shareholders of 33% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥16.00 announced Shareholders will receive a dividend of JP¥16.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 257%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (37% earnings payout ratio) and cash flows (80% cash payout ratio). The dividend has increased by an average of 28% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 21
AZ-COM MARUWA Holdings Inc. to Report Q1, 2025 Results on Aug 05, 2024 AZ-COM MARUWA Holdings Inc. announced that they will report Q1, 2025 results on Aug 05, 2024 Reported Earnings • May 16
Full year 2024 earnings released: EPS: JP¥70.88 (vs JP¥61.86 in FY 2023) Full year 2024 results: EPS: JP¥70.88 (up from JP¥61.86 in FY 2023). Revenue: JP¥198.6b (up 12% from FY 2023). Net income: JP¥9.12b (up 17% from FY 2023). Profit margin: 4.6% (up from 4.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 2.6% growth forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • May 15
AZ-COM MARUWA Holdings Inc., Annual General Meeting, Jun 26, 2024 AZ-COM MARUWA Holdings Inc., Annual General Meeting, Jun 26, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (3.2%). Announcement • Mar 15
AZ-COM MARUWA Holdings Inc. to Report Fiscal Year 2024 Results on May 13, 2024 AZ-COM MARUWA Holdings Inc. announced that they will report fiscal year 2024 results on May 13, 2024 Reported Earnings • Feb 07
Third quarter 2024 earnings released: EPS: JP¥22.57 (vs JP¥20.85 in 3Q 2023) Third quarter 2024 results: EPS: JP¥22.57 (up from JP¥20.85 in 3Q 2023). Revenue: JP¥53.6b (up 9.4% from 3Q 2023). Net income: JP¥2.89b (up 10% from 3Q 2023). Profit margin: 5.4% (in line with 3Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jan 30
Now 21% overvalued Over the last 90 days, the stock has fallen 25% to €9.40. The fair value is estimated to be €7.79, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 36% in the next 2 years. Announcement • Dec 20
AZ-COM MARUWA Holdings Inc. to Report Q3, 2024 Results on Feb 05, 2024 AZ-COM MARUWA Holdings Inc. announced that they will report Q3, 2024 results on Feb 05, 2024 New Risk • Dec 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (6.1% increase in shares outstanding). Announcement • Nov 22
AZ-COM MARUWA Holdings Inc. has filed a Follow-on Equity Offering. AZ-COM MARUWA Holdings Inc. has filed a Follow-on Equity Offering.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 16,550,000 Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: JP¥19.29 (vs JP¥14.18 in 2Q 2023) Second quarter 2024 results: EPS: JP¥19.29 (up from JP¥14.18 in 2Q 2023). Revenue: JP¥49.0b (up 13% from 2Q 2023). Net income: JP¥2.43b (up 36% from 2Q 2023). Profit margin: 5.0% (up from 4.1% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Sep 24
AZ-COM MARUWA Holdings Inc. to Report Q2, 2024 Results on Nov 06, 2023 AZ-COM MARUWA Holdings Inc. announced that they will report Q2, 2024 results on Nov 06, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥14.00 per share at 1.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is a comfortable 36% but the company is paying out more than the cash it is generating. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (2.9%). Reported Earnings • Aug 03
First quarter 2024 earnings released: EPS: JP¥16.82 (vs JP¥13.25 in 1Q 2023) First quarter 2024 results: EPS: JP¥16.82 (up from JP¥13.25 in 1Q 2023). Revenue: JP¥47.5b (up 16% from 1Q 2023). Net income: JP¥2.12b (up 27% from 1Q 2023). Profit margin: 4.5% (up from 4.1% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Logistics industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Jun 26
AZ-COM MARUWA Holdings Inc. to Report Q1, 2024 Results on Aug 02, 2023 AZ-COM MARUWA Holdings Inc. announced that they will report Q1, 2024 results on Aug 02, 2023 Announcement • May 13
AZ-COM MARUWA Holdings Inc., Annual General Meeting, Jun 27, 2023 AZ-COM MARUWA Holdings Inc., Annual General Meeting, Jun 27, 2023. Reported Earnings • May 12
Full year 2023 earnings released: EPS: JP¥61.86 (vs JP¥48.72 in FY 2022) Full year 2023 results: EPS: JP¥61.86 (up from JP¥48.72 in FY 2022). Revenue: JP¥177.8b (up 34% from FY 2022). Net income: JP¥7.78b (up 27% from FY 2022). Profit margin: 4.4% (down from 4.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Logistics industry in Europe. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥11.75 per share at 1.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 28 June 2023. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.9%). Reported Earnings • Feb 02
Third quarter 2023 earnings released: EPS: JP¥20.85 (vs JP¥14.59 in 3Q 2022) Third quarter 2023 results: EPS: JP¥20.85 (up from JP¥14.59 in 3Q 2022). Revenue: JP¥49.0b (up 31% from 3Q 2022). Net income: JP¥2.62b (up 43% from 3Q 2022). Profit margin: 5.4% (up from 4.9% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.9% decline forecast for the Logistics industry in Europe. Announcement • Dec 23
AZ-COM MARUWA Holdings Inc. to Report Q3, 2023 Results on Jan 31, 2023 AZ-COM MARUWA Holdings Inc. announced that they will report Q3, 2023 results on Jan 31, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥14.18 (vs JP¥12.17 in 2Q 2022) Second quarter 2023 results: EPS: JP¥14.18 (up from JP¥12.17 in 2Q 2022). Revenue: JP¥43.4b (up 43% from 2Q 2022). Net income: JP¥1.78b (up 17% from 2Q 2022). Profit margin: 4.1% (down from 5.0% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.3% decline forecast for the Logistics industry in Europe. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Outside Director Katsunobu Motohashi was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥14.18 (vs JP¥12.17 in 2Q 2022) Second quarter 2023 results: EPS: JP¥14.18 (up from JP¥12.17 in 2Q 2022). Revenue: JP¥43.4b (up 43% from 2Q 2022). Net income: JP¥1.78b (up 17% from 2Q 2022). Profit margin: 4.1% (down from 5.0% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 2.9% decline forecast for the Logistics industry in Europe. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥11.75 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 05 December 2022. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (4.0%). Announcement • Sep 22
Maruwa Unyu Kikan Co.,Ltd. to Report Q2, 2023 Results on Oct 31, 2022 Maruwa Unyu Kikan Co.,Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 Reported Earnings • Aug 02
First quarter 2023 earnings released: EPS: JP¥13.25 (vs JP¥13.76 in 1Q 2022) First quarter 2023 results: EPS: JP¥13.25 (down from JP¥13.76 in 1Q 2022). Revenue: JP¥41.0b (up 40% from 1Q 2022). Net income: JP¥1.67b (down 3.7% from 1Q 2022). Profit margin: 4.1% (down from 5.9% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 17%, compared to a 2.6% growth forecast for the industry in Germany. Announcement • Jun 29
Maruwa Unyu Kikan Co.,Ltd. (TSE:9090) agreed to acquire MK Logi Co., Ltd from Masakazu Baba for approximately ¥4070 million. Maruwa Unyu Kikan Co.,Ltd. (TSE:9090) agreed to acquire MK Logi Co., Ltd from Masakazu Baba for approximately ¥4070 million on June 27, 2022. Total shares to be acquired is 200. MK Logi Co., Ltd for year ending September, 2021 has revenues of ¥11,601 million, total assets of ¥3972 million and net assets of ¥372 million. Transaction is expected to close on July 29, 2022. Announcement • Jun 25
Maruwa Unyu Kikan Co.,Ltd. to Report Q1, 2023 Results on Aug 01, 2022 Maruwa Unyu Kikan Co.,Ltd. announced that they will report Q1, 2023 results on Aug 01, 2022 Announcement • May 12
Maruwa Unyu Kikan Co.,Ltd., Annual General Meeting, Jun 27, 2022 Maruwa Unyu Kikan Co.,Ltd., Annual General Meeting, Jun 27, 2022. Reported Earnings • May 11
Full year 2022 earnings released: EPS: JP¥48.72 (vs JP¥43.60 in FY 2021) Full year 2022 results: EPS: JP¥48.72 (up from JP¥43.60 in FY 2021). Revenue: JP¥133.0b (up 19% from FY 2021). Net income: JP¥6.13b (up 11% from FY 2021). Profit margin: 4.6% (down from 4.9% in FY 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 27% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 12% per year. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. No independent directors (11 non-independent directors). Executive Officer, GM of Finance Division, Manager of Finance Division & Director Hiroshi Tanaka was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 08
Maruwa Unyu Kikan Co.,Ltd. to Report Fiscal Year 2022 Results on May 10, 2022 Maruwa Unyu Kikan Co.,Ltd. announced that they will report fiscal year 2022 results on May 10, 2022 Board Change • Apr 05
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. Executive Officer, GM of Finance Division, Manager of Finance Division & Director Hiroshi Tanaka was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
