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Overview

Warehousing and Harbor Transportation Service

Sugimura Warehouse Co.,Ltd.

Sugimura Soko is a logistics services company with over 100 years of operating history, providing comprehensive warehouse management, storage, and delivery solutions primarily across the Kansai (Osaka, Kobe) and Kanto (Tokyo, Kanagawa, Saitama) regions of Japan. The company offers end-to-end logistics services under a 'total logistics service' model, covering receiving, storage, inventory management, and distribution. In addition to its core logistics business, the company operates a real estate segment offering optimal space solutions ranging from warehouses to office facilities.

Activists: LIM Advisors Limited 6.20%

Market Cap

¥14.9B

US$95.1M

¥10.4B

US$66.4M

Stock¥915▼-0.54%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

4.5

LTM EV/EBIT

7.4

LTM PER

15.1

LTM PBR

0.8

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-28.9%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1Dec 22, 25LIM Advisors Limited filed large shareholding report

2Sep 30, 26LIM Advisors Limited changed stake (6.0%→6.2%)

MC → EV Bridge

AI Briefing

Century-old Kansai/Kanto logistics operator: total logistics services plus real estate segment, running warehouses in Osaka, Kobe, Tokyo, Kanagawa and Saitama. FY26/3 revenue ¥11.2B with OP margin ticking up to 12.5%, steady low-single-digit growth off a stable depot network. Top holder Nomura Properties at 46.2% alongside Goldman Sachs International at 8.0% signals a concentrated, financially-sophisticated register worth watching for corporate action.

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

88%

EquityD/E 0.13xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 74.2%

as of 2026-03-31 · Source: Annual Securities Report

NOMURA PROPERTIES, INC.

46.20%

GOLDMAN SACHS INTERNATIONAL (Standing Proxy: Goldman Sachs Japan Co., Ltd.)

8.00%

Resona Bank, Limited

4.60%

Nomura Holdings, Inc.

4.40%

LIM JAPAN EVENT MASTER FUND (Standing Proxy: Tachibana Securities Co., Ltd.)

3.40%

MSIP CLIENT SECURITIES (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)

2.80%

NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN (CASHPB; Standing Proxy: Nomura Securities Co., Ltd.)

1.70%

Sanwa Kensetsu Co., Ltd.

1.10%

Sugimura Warehouse Co.,Ltd. Employee Stock Ownership Association

1.00%

The Sumitomo Warehouse Co.,Ltd.

1.00%

Management

6 officers

Yasuhito FUKUNISHI

Director and Chairman

Apr 1988 Joined Nomura Securities Co., Ltd. (now Nomura Holdings, Inc.) Apr 2011 Executive Officer, Sales Division (in charge of Greater Tokyo Area), Nomura Securities Apr 2014 Executive Officer, Sales Division (in charge of Kinki Area), Nomura Securities Apr 2015 Managing Executive Officer, Head of Wealth Management, Nomura Securities Apr 2016 Managing Director, stationed in Nagoya, and Branch Manager, Nagoya Branch, Nomura Securities Jun 2018 Vice President and Representative Director, the Company Jun 2019 President and Representative Director, the Company Jun 2025 Director and Chairman, the Company (current)

1964-04-11

Kanshiro FUKUYAMA

Representative Director, President

Apr 1990 Joined Nomura Securities Co., Ltd. (now Nomura Holdings, Inc.) Apr 2014 Executive Officer, Corporate Finance, Nomura Securities Apr 2015 Executive Officer, Corporate Finance, Nomura Securities Apr 2017 Executive Officer, Corporate Business Sales, Sales Division, Nomura Securities Apr 2019 Managing Director, stationed in Osaka, and Branch Manager, Osaka Branch, Nomura Securities Apr 2023 Senior Managing Director, in charge of Western Japan, stationed in Osaka, Nomura Securities Apr 2024 Vice President and Executive Officer, the Company Jun 2025 Representative Director, President, the Company (current)

1967-02-09

Hirohiko TAKETANI

Representative Director, Senior Managing Executive Officer, in charge of Sales Division

Apr 1981 Joined the Company Apr 2002 General Manager, Greater Tokyo Sales Division Jun 2006 Director, General Manager, Greater Tokyo Sales Division Jun 2010 Director, General Manager, Corporate Planning Department and Greater Tokyo Sales Division Apr 2013 Managing Director, General Manager, Osaka Sales Division, Kobe Sales Division and Greater Tokyo Sales Division; in charge of Operations Department Jun 2014 Managing Director (Representative Director), General Manager, Osaka Sales Division, Kobe Sales Division, Greater Tokyo Sales Division and Operations Department Jun 2016 Senior Managing Director (Representative Director), in charge of Sales Division; General Manager, Kobe Sales Division, Greater Tokyo Sales Division and Operations Department Oct 2018 Senior Managing Director (Representative Director), in charge of Sales Division; General Manager, Osaka Sales Division and Operations Department Apr 2020 Senior Managing Director (Representative Director), in charge of Sales Division; General Manager, Operations Department Jun 2022 Director and Senior Managing Executive Officer (Representative Director), in charge of Sales Division; General Manager, Operations Department Apr 2023 Director and Senior Managing Executive Officer (Representative Director), in charge of Sales Division (current)

1957-07-18

Toshihiko ASAI

Director, Full-time Audit and Supervisory Committee Member

Apr 1986 Joined the Company Oct 2017 General Manager, Greater Tokyo Sales Division Sep 2021 General Manager, Osaka Sales Division Jun 2022 Executive Officer, Sales Division (Deputy in charge); General Manager, Osaka Sales Division Apr 2023 Executive Officer, Sales Division (Deputy in charge); General Manager, Osaka Sales Division and Kobe Sales Division; General Manager, Operations Department Jun 2025 Director, Audit and Supervisory Committee Member, the Company (current)

1962-11-20

Shigeru CHIKAMOTO

Director, Audit and Supervisory Committee Member

Apr 1985 Joined Osaka Gas Co., Ltd. Aug 2009 General Manager, North-Eastern Energy Sales Department, Energy Business Division, Osaka Gas Apr 2016 Executive Officer, General Manager, Resources Trading Department, Resources and Overseas Business Division, Osaka Gas Jun 2018 Director and Managing Executive Officer, General Manager, Pipeline Business Division, Osaka Gas Apr 2021 Managing Executive Officer and Representative Director, President, Osaka Gas Marketing Co., Ltd. Apr 2022 Managing Executive Officer, General Manager, Energy Solutions Business Division, Osaka Gas Apr 2024 Adviser, Osaka Gas (current); Chairman of the Board, Osaka Gas Chemicals Co., Ltd. (current) Jun 2024 Outside Director, Mori Gumi Co., Ltd. (current) Jun 2025 Director, Audit and Supervisory Committee Member, the Company (current)

1962-05-20

Takashi ISHII

Director, Audit and Supervisory Committee Member

Apr 1990 Joined Daiwa Bank, Ltd. Apr 2014 General Manager, Minamimori-machi Branch, Resona Bank, Ltd. Apr 2015 General Manager, Moriguchi Branch, Resona Bank Apr 2017 General Manager, Osaka Public Sector Business Department, Resona Bank Apr 2019 General Manager, Kyoto and Shiga Sales Headquarters, and Branch Manager, Kyoto Branch, Resona Bank Apr 2020 Director, Saitama Resona Bank, Ltd.; Executive Officer and General Manager, Osaka Sales Division, Resona Bank Apr 2022 Managing Executive Officer and General Manager, Osaka Sales Division, Resona Bank Apr 2023 Director, Audit and Supervisory Committee Member, Resona Bank Apr 2024 Director, Kansai Mirai Bank, Ltd. Apr 2026 Executive Officer, General Manager, Corporate Planning and Administration Headquarters, Shin-Nippon Rikagaku Co., Ltd. (current) Jun 2026 Director, Audit and Supervisory Committee Member, the Company (current)

1967-05-27

Large Shareholding Reports

Nomura Properties Co., Ltd.

2026-10-08

45.94%→45.94%

Annual report (as of 2026-03-31): 46.20%

Nomura Properties Co., Ltd.

2026-10-06

45.94%→45.94%

Annual report (as of 2026-03-31): 46.20%

LIM Advisors Limited

2026-09-30

6.00%→6.20%

Old Peak Group Ltd.

2026-06-16

9.21%→10.22%

Nomura Properties Co., Ltd.

2026-04-08

45.94%→45.94%

Annual report (as of 2026-03-31): 46.20%

Nomura Properties Co., Ltd.

2026-04-03

45.94%→45.94%

Annual report (as of 2026-03-31): 46.20%

LIM Advisors Limited

2025-12-22

6.00%

Old Peak Group Ltd.

2025-11-04

8.15%→9.21%

Nomura Properties Co., Ltd.

2025-10-08

45.94%→45.94%

Annual report (as of 2026-03-31): 46.20%

Nomura Properties Co., Ltd.

2025-10-06

45.94%→45.94%

Annual report (as of 2026-03-31): 46.20%

Old Peak Group Ltd.

2025-08-07

7.13%→8.15%

Nomura Properties Co., Ltd.

2025-08-07

45.94%→45.94%

Annual report (as of 2026-03-31): 46.20%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-10-08

Large Shareholding Report

Sugimura Warehouse Co.,Ltd.

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Sugimura Warehouse Co.,Ltd.

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