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SBS

SBS Holdings, Inc.

Company highlights

The largest segment by revenue is Logistics, at 96.0% of the total.

Key figures

Period Jan 2025 to Dec 2025ConsolidatedJapanese GAAP

RevenueDisclosed ¥490.3B
Operating marginCalculated 4.3%
Net assets to total assetsCalculated 36.5%

Company profile

Securities code 2384 / EDINET code E04224 / Land Transportation / Fiscal year end December 31

新宿区西新宿八丁目１７番１号／Capital stock ¥3,920 million
Address, capital stock, fiscal year end and industry: the FSA’s EDINET code list.

Company details
鎌田 正彦 Representative
50 Consolidated subsidiaries

Tables scroll sideways

Disclosed data

Source: Annual Securities Report (Jan 2025 to Dec 2025) · filed 2026-03-24

Profitability ★★☆☆☆position among all companies 4.3%
Growth (revenue, 4-year average) ★★★☆☆position among all companies 5.0%
Capital efficiency ★★★★☆position among all companies 12.7%

Business activities and revenue composition

SBS

Revenue and profit by business segment

Period Jan 2025 to Dec 2025Source Annual securities reportsConsolidated・Disclosed

SalesProfit LogisticsLogistics Sales 96.0% 96% Profit 56.5% 57% Property Ma…Property Management Sales 4.0% 4% Profit 43.5% 43%
BusinessNet sales to external customers Operating income
This yearShareLast year This yearShareMarginLast year
Logistics ¥460.2 billion 96.0% ¥420.3 billion ¥11.9 billion 56.5% 2.6% ¥9.2 billion
Property Management ¥19.3 billion 4.0% ¥17.9 billion ¥9.1 billion 43.5% 47.3% ¥8.1 billion
Total of the businesses ¥479.6 billion100.0% ¥21.0 billion 100.0%

Revenue and profit

SBS

Period Jan 2025 to Dec 2025Source Annual securities reports

Net sales and operating revenue ¥490.3B　100% Cost of sales ¥434.6B　89% Selling, general and administrative expenses ¥34.4B　7% Operating income ¥21.3B　4%
Amounts by account
GroupAccountAmountConsolidated / Non-consolidated
Selling, general and administrative expenses Payrolls and allowances ¥11.0 billion Consolidated
Personnel expenses ¥3.0 billion Parent only
Supplies expenses ¥1.1 billion Parent only
Rent expenses ¥1.0 billion Parent only
Business consignment expenses ¥1.0 billion Parent only
Provision for bonuses ¥0.9 billion Consolidated
Amortization of goodwill ¥0.6 billion Consolidated
Profit by stage Gross profit (loss) ¥55.7 billion Consolidated
Operating income ¥21.3 billion Consolidated
Ordinary income ¥21.1 billion Consolidated
Net income ¥11.8 billion Consolidated

SBS

Selling, general and administrative expenses

Period Jan 2025 to Dec 2025Source Annual securities reports

Payrolls and allowances ¥11.0 billion (32.0%)32%Personnel expenses ¥3.0 billion (8.6%)9%Supplies expenses ¥1.1 billion (3.1%)Rent expenses ¥1.0 billion (3.0%)Business consignment expenses ¥1.0 billion (3.0%)Provision for bonuses ¥0.9 billion (2.7%)Other (not itemized) ¥16.4 billion (47.6%)48%¥34.4B
  • Payrolls and allowances　¥11.0 billion
  • Personnel expenses　¥3.0 billion
  • Supplies expenses　¥1.1 billion
  • Rent expenses　¥1.0 billion
  • Business consignment expenses　¥1.0 billion
  • Provision for bonuses　¥0.9 billion
  • Other (not itemized)　¥16.4 billion

Performance, financial position and capital allocation

Finance
36.5% Net assets to total assets Industry median 41.8% FY ending 12/2025 · consolidated / calculated
3.4% Return on assets (ROA)
¥2,435.25 Net assets per share
¥6.9 billion Free cash flow
¥346.9 billion Total assets
¥11.9 billion Goodwill (the part of the acquisition price above the net assets acquired)
Capital allocation
168.0% Cash conversion Industry median 151.8% FY ending 12/2025 · consolidated / calculated
-0.5% Increase in working capital ★★☆☆☆ position among all companies FY ending 12/2025 · consolidated / calculated
7.8% Return to shareholders ★☆☆☆☆ position among all companies FY ending 12/2025 · consolidated / calculated
-3.4% Extraordinary gains and losses relative to ordinary profit ★★☆☆☆ position among all companies FY ending 12/2025 · consolidated / calculated
14.0% Investment securities to net assets ★★★★☆ position among all companies FY ending 12/2025 · consolidated / calculated

Long-term changes in performance

Period 2012 to 2025Disclosed

Revenue ×3.83 from 2012 to 2025

SBS

Long-term revenue, profit and asset trends

Period 2012 to 2025Source Annual securities reportsDisclosed

Mark on the chart
490 327 163 0 2012 2014 2016 2018 2020 2022 2024 2025 Net sales and operating revenue Ordinary income 2018　Net sales year on year +33.1% 2019　Net sales year on year +25.6% 2021　Net sales year on year +56.9% 490Latest value 2025 490¥ billion 490Highest in the period shown 2025 490¥ billion 128Lowest in the period shown 2012 128¥ billion ¥ billion

SBS

Recent performance trends

Source Annual securities reports

490 327 163 0 4 years ago 3 years ago 2 years ago Last year This year Net sales and operating revenue Ordinary income ¥ billion

Year-on-year comparison

Period 2012 to 2025Disclosed

Item20212022202320242025
Net sales ¥403.5B ¥455.5B ¥431.9B ¥448.1B ¥490.3B
Year on year (%) +56.9%◆ +12.9% -5.2% +3.8% +9.4%
Ordinary income (loss) ¥20.5B ¥21.4B ¥19.7B ¥18.5B ¥21.1B
Change from prior year +88.3% +4.5% -7.7% -6.5% +14.5%
Ordinary income (loss) as a share of Net sales 5.1% 4.7% 4.6% 4.1% 4.3%
Change (percentage points) +0.8 points -0.4 points -0.1 points -0.5 points +0.2 points

Fiscal periods marked for changes

  • 2018Net sales year on year +33.1%
  • 2019Net sales year on year +25.6%
  • 2021Net sales year on year +56.9%

SBS

Earnings and net assets per share over time

Unit yenSource Annual securities reports

297 198 99 0 4 years ago 3 years ago 2 years ago Last year This year Earnings per share yen 2,435 1,624 812 0 4 years ago 3 years ago 2 years ago Last year This year Net assets per share yen

SBS

Return on equity over time

Unit %Source Annual securities reports

19 13 6 0 4 years ago 3 years ago 2 years ago Last year This year Return on equity (ROE, %)
Consolidated indicators (14 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥403.5 billion ¥455.5 billion ¥431.9 billion ¥448.1 billion ¥490.3 billion
Ordinary income (loss) ¥20.5 billion ¥21.4 billion ¥19.7 billion ¥18.5 billion ¥21.1 billion
Net income (loss) attributable to owners of parent ¥10.8 billion ¥11.7 billion ¥10.1 billion ¥9.6 billion ¥11.8 billion
Comprehensive income ¥13.9 billion ¥14.2 billion ¥13.4 billion ¥12.6 billion ¥15.7 billion
Net assets ¥80.7 billion ¥92.2 billion ¥102.6 billion ¥112.9 billion ¥126.6 billion
Total assets ¥277.2 billion ¥296.9 billion ¥301.3 billion ¥317.3 billion ¥346.9 billion
Net assets per share 1,527.58 yen 1,772.04 yen 2,003.63 yen 2,221.18 yen 2,435.25 yen
Basic earnings (loss) per share 271.67 yen 295.39 yen 253.2 yen 242.19 yen 296.69 yen
Equity-to-asset ratio 21.9% 23.7% 26.4% 27.8% 27.9%
Return on equity 19.4% 17.9% 13.4% 11.5% 12.7%
Net cash provided by (used in) operating activities ¥27.5 billion ¥22.4 billion ¥14.1 billion ¥15.8 billion ¥35.4 billion
Net cash provided by (used in) investing activities ¥-22.3 billion ¥-15.9 billion ¥-10.2 billion ¥-16.7 billion ¥-28.5 billion
Net cash provided by (used in) financing activities ¥-9.3 billion ¥0.5 billion ¥-7.6 billion ¥-1.3 billion ¥-14.9 billion
Cash and cash equivalents ¥23.8 billion ¥32.7 billion ¥29.7 billion ¥28.4 billion ¥20.4 billion
Parent only indicators (13 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Operating revenue ¥9.0 billion ¥15.8 billion ¥17.8 billion ¥19.6 billion ¥22.9 billion
Ordinary income (loss) ¥2.4 billion ¥8.6 billion ¥9.8 billion ¥8.6 billion ¥8.4 billion
Net income (loss) ¥2.8 billion ¥8.0 billion ¥9.8 billion ¥8.3 billion ¥8.0 billion
Capital stock ¥3.9 billion ¥3.9 billion ¥3.9 billion ¥3.9 billion ¥3.9 billion
Total number of issued shares (common stock) 39,718,200 shares 39,718,200 shares 39,718,200 shares 39,718,200 shares 39,718,200 shares
Net assets ¥17.7 billion ¥23.4 billion ¥30.9 billion ¥37.0 billion ¥42.1 billion
Total assets ¥122.8 billion ¥132.3 billion ¥135.6 billion ¥147.1 billion ¥155.6 billion
Net assets per share 444.94 yen 589.66 yen 777.62 yen 931.89 yen 1,060.96 yen
Dividend per share 55 yen 61 yen 65 yen 70 yen 90 yen
Basic earnings (loss) per share 70.81 yen 200.47 yen 247.52 yen 209.79 yen 200.28 yen
Equity-to-asset ratio 14.4% 17.7% 22.8% 25.2% 27.1%
Return on equity 16.6% 38.8% 36.2% 24.5% 20.1%
Payout ratio 77.7% 30.4% 26.3% 33.4% 44.9%

Dividend history

Source: reporting company’s key figures, annual securities reports · 13 years (2012 to 2025)Parent-onlyDisclosed

8 periods Consecutive increases (own definition) through FY ending 12/2025
10 periods Consecutive periods with dividends (site definition) through FY ending 12/2025
+28.6% Dividend growth (year on year)
+20.8% Dividend growth (5-year annual rate)
Fiscal yearAnnual dividend per share Of which interimPayout ratio (as reported, parent only) Flag
FY ending 12/2025 ¥90 Could not be retrieved 44.9%
FY ending 12/2024 ¥70 Could not be retrieved 33.4%
FY ending 12/2023 ¥65 Could not be retrieved 26.3%
FY ending 12/2022 ¥61 Could not be retrieved 30.4%
FY ending 12/2021 ¥55 Could not be retrieved 77.7%
FY ending 12/2020 ¥35 Could not be retrieved 34.2%
FY ending 12/2019 ¥30 Could not be retrieved 53.2%
FY ending 12/2018 ¥22 Could not be retrieved 26.4%
FY ending 12/2017 ¥21 Could not be retrieved 54.3%
FY ending 12/2016 ¥33 Could not be retrieved 60.6%
FY 2015 Could not be retrieved Could not be retrieved Could not be retrieved
FY ending 12/2014 ¥15 Could not be retrieved 35.2%
FY ending 12/2013 ¥40 Could not be retrieved 72.3%
FY ending 12/2012 ¥40 Could not be retrieved 75.5%

SBS

Dividends per share over time

Unit yenSource Annual securities reports

90 60 30 0 4 years ago 3 years ago 2 years ago Last year This year Dividend per share yen

Shareholder composition

As of 2025-12-31Disclosed

Share ownership by holder category

3,496 Shareholders
12.65% Foreign holders (total) Industry median 11.50%
17.09% Individuals and others Industry median 36.62%

SBS

Unit %Source Annual securities reports

  • Financial institutions12.42%
  • Securities firms1.63%
  • Other corporations56.20%
  • Foreign holders (institutions)12.65%
  • Foreign holders (individuals)0.00%
  • Individuals and others17.09%
  • Government and municipalities0.00%

Major shareholders

RankShareholderShareholding ratioShares held
1 ㈱鎌田企画 49.57% 19,688,400
2 日本マスタートラスト信託銀行㈱（信託口） 7.36% 2,924,900
3 ㈱日本カストディ銀行（信託口） 4.18% 1,662,700
4 ＳＢＳホールディングス従業員持株会 3.12% 1,240,700
5 和佐見 勝 2.71% 1,078,600
6 東武不動産㈱ 2.52% 1,001,000
7 CEPLUX- THE INDEPENDENT UCITS PLATFORM ２（常任代理人 シティバンク、エヌ・エイ東京支店） 2.43% 967,700
8 大内 純一 1.26% 501,400
9 ㈱ばんせい総合研究所 1.03% 410,000
10 GOVERNMENT OF NORWAY（常任代理人 シティバンク、エヌ・エイ東京支店） 0.76% 304,975

Research and development expenses and capital expenditure

Source: R&D and capital expenditure sections, annual securities reports · 2 years (2020 to 2025)Disclosed

Not disclosed Research and development
¥14.0 billion Capital expenditure 2.8% of revenue (industry median 8.7%)
Fiscal year Capital expenditure
FY ending 12/2025 ¥14.0 billion
FY ending 12/2020 ¥11.5 billion

Research and development expenses and capital expenditure by segment (FY ending 12/2025)

Segment Capital expenditure
Logistics ¥13.0 billion
Property Management ¥0.3 billion

Revenue scale in the same industry

SBS

Source Annual securities reports of each company

Land Transportation: 93 companies · revenue · largest first・each company’s latest fiscal year・Consolidated・Disclosed

Workforce information

Source: Annual Securities Report (Jan 2025 to Dec 2025)Parent-onlyDisclosed

310 Employees (parent only) Industry median 349
45.1 Average age Industry median 43.9
5.9 years Average length of service Industry median 15.6 years
¥6.02 million Average annual salary Industry median ¥6.52 million
People and organisation
41.7¥ million Sales per employee Industry median 24.1¥ million FY ending 12/2025 · consolidated / calculated
¥1.81 million Operating income per employee
48.2% Wage gap between men and women
12.3% Women in managerial positions
33.3% Men taking childcare leave
Men 197
Women 110 Employees by gender
2 / 12 Female officers
13,270 Average temporary staff

Administrative filings and published information

Workplace information filings

Filed 2026-08-27Disclosed

ItemValue
Employees 363
Average monthly overtime (statutory overtime plus work on statutory days off)
Scope: 正社員		 14.5 hours
Annual paid leave taken
Scope: 正社員		 77.4%
Childcare leave taken, men
Scope: 正社員		 33.3%
Childcare leave taken, women
Scope: 正社員		 100%
Share of managers who are women 12.3%
Share of board members who are women 16.7%

Audit and disclosure information

Annual securities report, year ended 2025-12-31Disclosed

ItemValue
Audit firm EY新日本有限責任監査法人
Audit fees (this year, total) ¥0.2 billion
Non-audit fees (this year, total) ¥15.00 million
Audit fees (this year, network firms) ¥44.00 million
Non-audit fees (this year, network firms) ¥56.00 million
Going concern note Cannot be determined
Accounting standard Japanese GAAP

See the book series →

Sources and methodology

Retrieved disclosed figures

Accounts and values from the annual securities report, by section

Major management indicators (5 years) (27 items)

ItemValueConsolidated / Non-consolidated
Comprehensive income ¥15.7 billion Consolidated
Net cash provided by (used in) operating activities ¥35.4 billion Consolidated
Net sales ¥490.3 billion Consolidated
Net cash provided by (used in) investing activities ¥-28.5 billion Consolidated
Cash and cash equivalents ¥20.4 billion Consolidated
Net assets ¥126.6 billion Consolidated
Ordinary income (loss) ¥21.1 billion Consolidated
Total assets ¥346.9 billion Consolidated
Return on equity 12.7% Consolidated
Equity-to-asset ratio 27.9% Consolidated
Net income (loss) attributable to owners of parent ¥11.8 billion Consolidated
Net cash provided by (used in) financing activities ¥-14.9 billion Consolidated
Basic earnings (loss) per share 296.69 yen Consolidated
Net assets per share 2,435.25 yen Consolidated
Dividend per share 90 yen Parent only
Operating revenue ¥22.9 billion Parent only
Net income (loss) ¥8.0 billion Parent only
Total number of issued shares (common stock) 39,718,200 shares Parent only
Net assets ¥42.1 billion Parent only
Ordinary income (loss) ¥8.4 billion Parent only
Total assets ¥155.6 billion Parent only
Return on equity 20.1% Parent only
Equity-to-asset ratio 27.1% Parent only
Capital stock ¥3.9 billion Parent only
Payout ratio 44.9% Parent only
Basic earnings (loss) per share 200.28 yen Parent only
Net assets per share 1,060.96 yen Parent only

Employees (10 items)

ItemValueConsolidated / Non-consolidated
Number of employees 11,772 people Consolidated
Number of employees 11,772 people Consolidated
Wage gap between men and women (all employees) 48.2% Parent only
Average length of service (years) 5.9 years Parent only
Average annual salary ¥6.02 million Parent only
Average age (years) 45.1 years old Parent only
Number of employees 310 people Parent only
Number of employees 310 people Parent only
Wage gap between men and women (regular employees) 67.3% Parent only
Wage gap between men and women (non-regular employees) 34.1% Parent only

Other disclosed items (13 items)

ItemValueConsolidated / Non-consolidated
Goodwill before offsetting ¥11.9 billion Consolidated
Net sales to external customers ¥490.3 billion Consolidated
Average number of temporary employees 13,270 people Consolidated
Average number of temporary employees 13,270 people Consolidated
Number of unconsolidated subsidiaries and associates accounted for using equity method 1 companies Consolidated
Increase in property plant and equipment and intangible assets ¥14.0 billion Consolidated
Depreciation ¥12.7 billion Consolidated
Number of consolidated subsidiaries 50 companies Consolidated
Rate of male employees taking childcare leave (all employees) 33.3% Parent only
Average number of temporary employees 195 people Parent only
Average number of temporary employees 195 people Parent only
Total return on the share price index 213.2% Parent only
Ratio of female employees in managerial positions 12.3% Parent only

Shares (26 items)

ItemValueConsolidated / Non-consolidated
Number of shares held 29,780,375 shares Consolidated
Total number of shares held treasury shares etc 800 shares Consolidated
Number of issues whose number of shares increased shares not listed investment shares held for purposes other than pure investment reporting company 2 issues Consolidated
Number of issues whose number of shares increased shares other than those not listed investment shares held for purposes other than pure investment largest holding company 1 issues Consolidated
Number of issues whose number of shares decreased shares not listed investment shares held for purposes other than pure investment reporting company 1 issues Consolidated
Number of issues whose number of shares decreased shares other than those not listed investment shares held for purposes other than pure investment reporting company 2 issues Consolidated
Total acquisition cost for increased shares shares not listed investment shares held for purposes other than pure investment reporting company ¥14.00 million Consolidated
Total acquisition cost for increased shares shares other than those not listed investment shares held for purposes other than pure investment largest holding company ¥21.00 million Consolidated
Total sale amount for decreased shares shares not listed investment shares held for purposes other than pure investment reporting company ¥10.00 million Consolidated
Total sale amount for decreased shares shares other than those not listed investment shares held for purposes other than pure investment reporting company ¥0.3 billion Consolidated
Number of shares 39,718,200 shares Consolidated
Shareholding ratio treasury shares etc 0.0% Consolidated
Shareholding ratio 75.0% Consolidated
Number of shares held in own name treasury shares etc 800 shares Consolidated
Number of voting rights 397,082 units Consolidated
Carrying amount on the balance sheet ¥82.00 million Consolidated
Carrying amount on the balance sheet ¥0 Consolidated
Carrying amount on the balance sheet ¥0.7 billion Consolidated
Carrying amount on the balance sheet ¥1.1 billion Consolidated
Book value equity securities not listed investment equity securities held for pure investment reporting company ¥0 Consolidated
Number of issues 2 issues Consolidated
Number of issues 15 issues Consolidated
Number of issues 1 issues Consolidated
Number of issues 7 issues Consolidated
Number of issues 1 issues Consolidated
Total shareholder return 215.3% Parent only

Property and facilities (1 items)

ItemValueConsolidated / Non-consolidated
Capital expenditures ¥14.0 billion Consolidated

Audit (10 items)

ItemValueConsolidated / Non-consolidated
Fees for audit and attestation services - reporting company ¥0.1 billion Consolidated
Fees for audit and attestation services - total ¥44.00 million Consolidated
Fees for audit and attestation services - total ¥0.2 billion Consolidated
Fees for audit and attestation services - consolidated subsidiaries ¥44.00 million Consolidated
Fees for audit and attestation services - consolidated subsidiaries ¥35.00 million Consolidated
Fees for non-audit services - reporting company ¥18.00 million Consolidated
Fees for non-audit services - reporting company ¥15.00 million Consolidated
Fees for non-audit services - total ¥56.00 million Consolidated
Fees for non-audit services - total ¥15.00 million Consolidated
Non audit fees consolidated subsidiaries network firms ¥38.00 million Consolidated

Balance sheet (132 items)

ItemValueConsolidated / Non-consolidated
Other ¥1.2 billion Consolidated
Other ¥2.7 billion Consolidated
Other ¥17.6 billion Consolidated
Other ¥5.1 billion Consolidated
Other ¥18.4 billion Consolidated
Other ¥8.4 billion Consolidated
Valuation difference on available-for-sale securities ¥1.4 billion Consolidated
Other, net ¥5.8 billion Consolidated
Goodwill ¥11.9 billion Consolidated
Lease receivables and investment assets ¥0.9 billion Consolidated
Lease obligations ¥8.2 billion Consolidated
Lease obligations ¥2.2 billion Consolidated
Lease assets ¥16.8 billion Consolidated
Lease assets, net ¥9.5 billion Consolidated
Real estate for sale in process ¥14.0 billion Consolidated
Retained earnings ¥86.5 billion Consolidated
Raw materials and supplies ¥0.5 billion Consolidated
Notes receivable - trade ¥73.00 million Consolidated
Notes receivable - trade ¥73.2 billion Consolidated
Merchandise and finished goods ¥0.7 billion Consolidated
Non-current liabilities ¥90.4 billion Consolidated
Non-current assets ¥191.8 billion Consolidated
Land ¥54.4 billion Consolidated
Accounts receivable - trade ¥70.9 billion Consolidated
Contract assets ¥1.2 billion Consolidated
Guarantee deposits ¥11.8 billion Consolidated
Buildings and structures ¥78.4 billion Consolidated
Buildings and structures, net ¥21.5 billion Consolidated
Construction in progress ¥0.9 billion Consolidated
Investments and other assets ¥32.2 billion Consolidated
Investment securities ¥17.8 billion Consolidated
Notes and accounts payable - trade ¥38.1 billion Consolidated
Property, plant and equipment ¥110.0 billion Consolidated
Income taxes payable ¥4.0 billion Consolidated
Accrued consumption taxes ¥4.9 billion Consolidated
Accrued expenses ¥10.6 billion Consolidated
Accounts payable - other ¥8.5 billion Consolidated
Shareholders' equity ¥90.5 billion Consolidated
Inventories ¥40.2 billion Consolidated
Inventories ¥40.2 billion Consolidated
Machinery, equipment and vehicles ¥52.2 billion Consolidated
Machinery, equipment and vehicles, net ¥17.8 billion Consolidated
Current liabilities ¥129.9 billion Consolidated
Current assets ¥155.1 billion Consolidated
Accumulated depreciation and impairment loss ¥-11.8 billion Consolidated
Accumulated depreciation and impairment loss ¥-7.3 billion Consolidated
Accumulated depreciation and impairment loss ¥-56.8 billion Consolidated
Accumulated depreciation and impairment loss ¥-34.4 billion Consolidated
Foreign currency translation adjustment ¥3.0 billion Consolidated
Intangible assets ¥49.6 billion Consolidated
Cash and cash equivalents ¥20.4 billion Consolidated
Cash and deposits ¥22.6 billion Consolidated
Short-term loans payable ¥20.6 billion Consolidated
Net assets ¥126.6 billion Consolidated
Net assets ¥126.6 billion Consolidated
Total assets ¥346.9 billion Consolidated
Total assets ¥346.9 billion Consolidated
Deferred tax liabilities ¥14.4 billion Consolidated
Treasury stock ¥-1.00 million Consolidated
Valuation and translation adjustments ¥6.2 billion Consolidated
Liabilities ¥220.3 billion Consolidated
Liabilities and net assets ¥346.9 billion Consolidated
Real estate for sale ¥9.8 billion Consolidated
Allowance for doubtful accounts ¥-44.00 million Consolidated
Allowance for doubtful accounts ¥-0.3 billion Consolidated
Capital surplus ¥0.1 billion Consolidated
Capital stock ¥3.9 billion Consolidated
Asset retirement obligations ¥3.8 billion Consolidated
Provision for bonuses ¥3.2 billion Consolidated
Remeasurements of defined benefit plans ¥1.7 billion Consolidated
Net defined benefit liability ¥8.7 billion Consolidated
Long-term loans payable ¥49.0 billion Consolidated
Long term guarantee deposited ¥4.9 billion Consolidated
Electronically recorded obligations - operating ¥6.1 billion Consolidated
Non-controlling interests ¥29.8 billion Consolidated
Customer relationship ¥29.3 billion Consolidated
Current portion of long-term loans payable ¥26.7 billion Consolidated
Other ¥37.00 million Parent only
Other ¥1.2 billion Parent only
Other ¥66.00 million Parent only
Other ¥0.9 billion Parent only
Other ¥18.00 million Parent only
Valuation difference on available-for-sale securities ¥0.5 billion Parent only
Other capital surplus ¥0.1 billion Parent only
Other, net ¥0.4 billion Parent only
Software ¥0.6 billion Parent only
Retained earnings ¥35.3 billion Parent only
Unearned revenue ¥7.00 million Parent only
Prepaid expenses ¥0.6 billion Parent only
Right of trademark ¥12.00 million Parent only
Non-current liabilities ¥46.7 billion Parent only
Non-current assets ¥93.4 billion Parent only
Land ¥0.3 billion Parent only
Accounts receivable - trade ¥0.5 billion Parent only
Tools, furniture and fixtures ¥0.7 billion Parent only
Buildings, net ¥0.9 billion Parent only
Investments and other assets ¥90.2 billion Parent only
Investment securities ¥1.2 billion Parent only
Property, plant and equipment ¥2.6 billion Parent only
Accounts receivable - other ¥1.2 billion Parent only
Income taxes refund receivable ¥0.2 billion Parent only
Income taxes payable ¥30.00 million Parent only
Accrued expenses ¥0.1 billion Parent only
Accounts payable - other ¥0.7 billion Parent only
Shareholders' equity ¥41.6 billion Parent only
Machinery and equipment, net ¥0.1 billion Parent only
Current liabilities ¥66.8 billion Parent only
Current assets ¥62.2 billion Parent only
Intangible assets ¥0.6 billion Parent only
Cash and deposits ¥8.7 billion Parent only
Short-term loans payable ¥19.0 billion Parent only
Short-term loans receivable with resale agreement ¥50.2 billion Parent only
Net assets ¥42.1 billion Parent only
Net assets ¥42.1 billion Parent only
Total assets ¥155.6 billion Parent only
Deferred tax assets ¥0.2 billion Parent only
Retained earnings brought forward ¥35.3 billion Parent only
Treasury stock ¥-1.00 million Parent only
Valuation and translation adjustments ¥0.5 billion Parent only
Liabilities ¥113.4 billion Parent only
Liabilities and net assets ¥155.6 billion Parent only
Accounts payable - trade ¥0.4 billion Parent only
Allowance for doubtful accounts ¥-8.00 million Parent only
Capital surplus ¥2.4 billion Parent only
Legal capital surplus ¥2.2 billion Parent only
Capital stock ¥3.9 billion Parent only
Asset retirement obligations ¥0.2 billion Parent only
Provision for retirement benefits ¥0.2 billion Parent only
Long-term loans payable ¥46.3 billion Parent only
Shares of subsidiaries and associates ¥87.5 billion Parent only
Deposits received ¥20.3 billion Parent only
Current portion of long-term loans payable ¥26.1 billion Parent only

Statement of income (85 items)

ItemValueConsolidated / Non-consolidated
Other ¥0.4 billion Consolidated
Other ¥0.8 billion Consolidated
Other ¥77.00 million Consolidated
Other comprehensive income ¥2.3 billion Consolidated
Valuation difference on available for sale securities net of tax ¥-99.00 million Consolidated
Amortization of goodwill ¥0.6 billion Consolidated
Amortization of goodwill ¥0.6 billion Consolidated
Dividends from surplus ¥-2.8 billion Consolidated
Comprehensive income ¥15.7 billion Consolidated
Interest income ¥0.1 billion Consolidated
Dividend income ¥0.1 billion Consolidated
Operating income ¥21.3 billion Consolidated
Operating income ¥21.3 billion Consolidated
Non-operating income ¥2.1 billion Consolidated
Non-operating expenses ¥2.3 billion Consolidated
Net cash provided by (used in) operating activities ¥35.4 billion Consolidated
Loss on sale of non-current assets ¥9.00 million Consolidated
Gain on sales of non-current assets ¥1.3 billion Consolidated
Loss on retirement of non-current assets ¥0.2 billion Consolidated
Cost of sales ¥434.6 billion Consolidated
Gross profit (loss) ¥55.7 billion Consolidated
Net sales ¥490.3 billion Consolidated
Net sales ¥490.3 billion Consolidated
Net income ¥11.8 billion Consolidated
Net income ¥11.8 billion Consolidated
Net income (loss) ¥13.5 billion Consolidated
Net income (loss) ¥13.5 billion Consolidated
Gain on sales of investment securities ¥0.3 billion Consolidated
Net cash provided by (used in) investing activities ¥-28.5 billion Consolidated
Gain on extinguishment of tie-in shares ¥0.3 billion Consolidated
Share of profit of investments accounted for using equity method ¥1.5 billion Consolidated
Share of other comprehensive income of investments accounted for using equity method ¥-34.00 million Consolidated
Interest expenses ¥1.5 billion Consolidated
Income taxes - current ¥7.5 billion Consolidated
Income taxes ¥7.0 billion Consolidated
Income taxes - deferred ¥-0.5 billion Consolidated
Impairment loss ¥2.3 billion Consolidated
Impairment loss ¥2.3 billion Consolidated
Foreign currency translation adjustment net of tax ¥1.2 billion Consolidated
Extraordinary income ¥1.8 billion Consolidated
Extraordinary loss ¥2.5 billion Consolidated
Effect of exchange rate change on cash and cash equivalents ¥-42.00 million Consolidated
Net increase (decrease) in cash and cash equivalents ¥-8.0 billion Consolidated
Income (loss) before income taxes ¥20.4 billion Consolidated
Income (loss) before income taxes ¥20.4 billion Consolidated
Ordinary income ¥21.1 billion Consolidated
Payrolls and allowances-SGA ¥11.0 billion Consolidated
Comprehensive income attributable to owners of parent ¥13.8 billion Consolidated
Net cash provided by (used in) financing activities ¥-14.9 billion Consolidated
Selling, general and administrative expenses ¥34.4 billion Consolidated
Provision for bonuses ¥0.9 billion Consolidated
Remeasurements of defined benefit plans net of tax ¥1.2 billion Consolidated
Changes in equity of parent from transaction of non controlling interest ¥-2.5 billion Consolidated
Comprehensive income attributable to non-controlling interests ¥2.0 billion Consolidated
Net income (loss) attributable to non-controlling interests ¥1.7 billion Consolidated
Increase in cash and cash equivalents resulting from merger with unconsolidated subsidiaries cce ¥7.00 million Consolidated
Other ¥36.00 million Parent only
Other ¥6.00 million Parent only
Personnel expenses ¥3.0 billion Parent only
Dividends from surplus ¥-2.8 billion Parent only
Interest income ¥0.6 billion Parent only
Operating income ¥9.7 billion Parent only
Non-operating income ¥0.6 billion Parent only
Non-operating expenses ¥1.9 billion Parent only
Loss on retirement of non-current assets ¥9.00 million Parent only
Cost of sales ¥4.5 billion Parent only
Gross profit (loss) ¥18.4 billion Parent only
Net sales ¥22.9 billion Parent only
Net income (loss) ¥8.0 billion Parent only
Net income (loss) ¥8.0 billion Parent only
Loss on investments in partnership ¥23.00 million Parent only
Gain on sales of investment securities ¥0.3 billion Parent only
Interest expenses ¥1.2 billion Parent only
Business consignment expenses ¥1.0 billion Parent only
Income taxes - current ¥-0.2 billion Parent only
Income taxes ¥-0.5 billion Parent only
Income taxes - deferred ¥-0.3 billion Parent only
Supplies expenses ¥1.1 billion Parent only
Impairment loss ¥1.2 billion Parent only
Extraordinary income ¥0.3 billion Parent only
Extraordinary loss ¥1.3 billion Parent only
Income (loss) before income taxes ¥7.4 billion Parent only
Ordinary income ¥8.4 billion Parent only
Selling, general and administrative expenses ¥8.7 billion Parent only
Rent expenses ¥1.0 billion Parent only

Accounts unique to this company (7 items)

ItemValueConsolidated / Non-consolidated
Revenue ¥-0 Consolidated
Revenue ¥9.00 million Consolidated
Revenue ¥15.2 billion Consolidated
Revenue ¥1.1 billion Consolidated
Revenue ¥9.00 million Parent only
Revenue ¥0.1 billion Parent only
Revenue ¥0.5 billion Parent only

Statement of changes in equity (4 items)

ItemValueConsolidated / Non-consolidated
Total changes during the period ¥13.6 billion Consolidated
Net changes in items other than shareholders' equity ¥7.1 billion Consolidated
Total changes during the period ¥5.1 billion Parent only
Net changes in items other than shareholders' equity ¥-47.00 million Parent only

Statement of cash flows (36 items)

ItemValueConsolidated / Non-consolidated
Other ¥4.3 billion Consolidated
Other ¥-1.4 billion Consolidated
Other ¥-1.8 billion Consolidated
Amortization of goodwill ¥0.6 billion Consolidated
Increase decrease in notes and accounts payable trade ¥2.8 billion Consolidated
Interest expenses paid ¥-1.5 billion Consolidated
Interest and dividends income received ¥0.7 billion Consolidated
Interest and dividend income ¥-0.2 billion Consolidated
Decrease increase in notes and accounts receivable trade ¥0.9 billion Consolidated
Subtotal ¥45.1 billion Consolidated
Purchase of investment securities ¥-46.00 million Consolidated
Loss (gain) on sales of long-term investment securities ¥-0.3 billion Consolidated
Loss gain on extinguishment of tie in shares ¥-0.3 billion Consolidated
Equity in earnings losses of affiliates ¥-1.5 billion Consolidated
Interest expenses ¥1.5 billion Consolidated
Purchase of property plant and equipment and intangible assets ¥-13.0 billion Consolidated
Proceeds from sales of property plant and equipment and intangible assets ¥2.8 billion Consolidated
Loss gain on sales of property plant and equipment and intangible assets ¥-1.2 billion Consolidated
Loss on retirement of property plant and equipment and intangible assets ¥0.2 billion Consolidated
Decrease in consumption taxes payable ¥1.9 billion Consolidated
Decrease (increase) in inventories ¥1.5 billion Consolidated
Income taxes paid ¥-8.9 billion Consolidated
Depreciation ¥12.7 billion Consolidated
Impairment loss ¥2.3 billion Consolidated
Decrease/increase in short-term loans payable ¥-1.1 billion Consolidated
Redemption of bonds ¥-0.1 billion Consolidated
Increase (decrease) in allowance for doubtful accounts ¥32.00 million Consolidated
Increase (decrease) in provision for bonuses ¥0.2 billion Consolidated
Increase (decrease) in net defined benefit liability ¥-0.6 billion Consolidated
Payments for acquisition in subsidiaries resulting in change in scope of consolidation ¥-15.6 billion Consolidated
Payments from changes in ownership interests in subsidiaries that do not result in change in scope of consolidation ¥-3.5 billion Consolidated
Dividends ¥-2.8 billion Consolidated
Proceeds from long term loans payable ¥19.1 billion Consolidated
Repayment of long term loans payable ¥-24.2 billion Consolidated
Purchase of shares of subsidiaries and associates ¥-1.3 billion Consolidated
Dividends paid to non-controlling interests ¥-0.4 billion Consolidated
Basic indicators
ItemValueConsolidated / Non-consolidatedSource
Net cash provided by (used in) operating activities ¥35.4 billion ConsolidatedDisclosed
Dividend per share 90 Parent onlyDisclosed
Number of employees 11,772 ConsolidatedDisclosed
Net assets ¥126.6 billion ConsolidatedDisclosed
Net sales ¥490.3 billion ConsolidatedDisclosed
Operating income ¥21.3 billion ConsolidatedDisclosed
Ordinary income ¥21.1 billion ConsolidatedDisclosed
Net income ¥11.8 billion ConsolidatedDisclosed
Total assets ¥346.9 billion ConsolidatedDisclosed
Operating margin 4.3%ConsolidatedCalculated
Net margin 2.4%ConsolidatedCalculated
Sales per employee 41653415 yenConsolidatedCalculated
Total asset turnover 1.41 timesConsolidatedCalculated
Net assets to total assets 36.5%ConsolidatedCalculated
How to read the figures, and caveats

Terms

  • Consolidated: the parent company together with the subsidiaries it consolidates
  • Parent-only: the single company that filed the annual securities report
  • Calculated: a disclosed figure put through the formula shown
  • Not disclosed: no such value in the filing (not treated as zero)
  • Not retrieved: a value this page could not extract, including values in the filing that could not be matched. The same item may appear in another table
  • Segment: a business division the company uses in its disclosures
  • Industry median: the middle value among companies in the same industry that disclose the item
  • ★: position when every company is lined up by value (not a judgement of the company)See the formulas
  • Source: document name, period covered, filing date and where it was obtained
  • Tables scroll sideways

Key figures

  • Operating margin 4.3%　Operating income ÷ net sales 　＝ ¥21.3 billion ÷ ¥490.3 billion
    Operating income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Net margin 2.4%　Net income ÷ net sales 　＝ ¥11.8 billion ÷ ¥490.3 billion
    Net income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Sales per employee 41,653,415 yen　Sales or operating revenue ÷ employees 　＝ ¥490.3 billion ÷ 11,772 people
    Sales or operating revenue ÷ employees. The denominator is Number of employees (Consolidated, Japanese GAAP).
  • Total asset turnover 1.41 times　Sales or operating revenue ÷ total assets 　＝ ¥490.3 billion ÷ ¥346.9 billion
    Sales or operating revenue ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).
  • Net assets to total assets 36.5%　Net assets ÷ total assets 　＝ ¥126.6 billion ÷ ¥346.9 billion
    Net assets ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).

Company details

  • Representative　President, Representative Director, gBizINFO
  • Consolidated subsidiaries　Annual Securities Report

Revenue and profit by business segment

  • Source: segment information, Annual Securities Report (Jan 2025 to Dec 2025) · Consolidated · Net sales to external customers · filed 2026-03-24
  • Share: against the total of Net sales to external customers disclosed by business (100%). Adjustments, corporate, eliminations and “other” left out as they are not businesses (so no match with company-wide Net sales to external customers). Margin: calculated against the Net sales to external customers on the same row“Total” in the segment information of the annual securities report: ¥490.3 billion. Gap against this table’s total (the part not listed as a business, such as “other”) within 1%The account may differ from “Revenue” at the top of this page

Amounts by account

  • Totals and their component lines together; consolidated and parent-only figures mixed (right-hand column)

Selling, general and administrative expenses

  • Breakdown of selling, general and administrative expenses (costs of selling and running the company). Cost of sales not included
  • Each item: already inside the SG&A total (not added to it)

Finance

  • Net assets to total assets　Net assets ÷ total assets
  • Return on assets (ROA)　Net income ÷ total assets (consolidated)
  • Net assets per share　Consolidated
  • Free cash flow　Free cash flow: operating cash flow (cash generated by the business) plus investing cash flow (asset purchases, disposals and other investments), consolidated
  • Total assets　Consolidated
  • Goodwill (the part of the acquisition price above the net assets acquired)　9% of net assets (consolidated)

Capital allocation

  • ★: position when all companies are sorted by value and cut into fifths (a position, not a rating). The five items with ★: only where both numerator and denominator are available on a consolidated basisSee the formulas
  • Cash conversion　Net cash provided by (used in) operating activities ÷ operating income
  • Increase in working capital　(increase in trade receivables + increase in inventories) ÷ net sales (or operating revenue)。Trade receivables down ¥0.9 billion + inventories down ¥1.5 billion, over net sales ¥490.3 billion
  • Return to shareholders　(dividends paid + purchase of treasury stock) ÷ net cash provided by operating activities。Dividends paid ¥2.8 billion (no treasury stock purchase disclosed), over operating cash flow ¥35.4 billion
  • Extraordinary gains and losses relative to ordinary profit　(extraordinary income − extraordinary loss) ÷ ordinary income。Extraordinary income ¥1.8 billion − extraordinary loss ¥2.5 billion, over ordinary income ¥21.1 billion
  • Investment securities to net assets　Investment securities ÷ net assets。Investment securities ¥17.8 billion, over net assets ¥126.6 billion

Long-term changes in performance

  • Revenue　Disclosed value for 2025 ÷ disclosed value for 2012

Year-on-year comparison

  • Year on year: calculated only where the item, reporting range and accounting standard match and the periods are consecutive
  • Comparison basis not confirmed: periods with a change of accounting standard or reporting range, a moved fiscal year end, or an unconfirmed period
  • ◆: a period where revenue moved 20% or more from the prior year, profit as a share of revenue moved 2.0 percentage points or more, or profit or loss changed sign. Item used named in the table and list. Not a ranking of companies

Earnings and net assets per share over time

  • Earnings per share = net profit ÷ shares; net assets per share = net assets ÷ shares. Disclosed values from the key financial indicators of the annual securities report. No share prices used

Return on equity over time

  • Return on equity (ROE): net profit as a proportion of equity. For Japanese companies, the disclosed value in the key financial indicators of the annual securities report (decimals converted to percentages)

Dividend history

  • Payout ratio: dividends as a proportion of net profit. Dividend amounts and payout ratios: the reporting company’s parent-only disclosed values (as written in the annual securities report, not recalculated from consolidated profit). Consecutive increases: years in a row, from the latest backwards, in which the annual dividend per share rose. Consecutive years with a dividend: years in a row with an annual dividend per share above zero. Both this site’s own count (not the criteria of any published index). A year with no disclosure not read as zero; counting stops there. Range limited to the years listed above.

Share ownership by holder category

  • Source: ownership table, annual securities report. Percentages as disclosed, calculated on trading units (some companies do not total exactly 100%). Foreign holders (total): institutions and individuals combined. “Individuals and others”: a register category (not necessarily the share actually held by individuals). Industry median: the middle value among companies in Land Transportation that disclose the item (industries with at least 5 companies only).

Major shareholders

  • Source: major shareholders table, annual securities report. Trust bank holdings as written (whose trust is not disclosed)

Research and development expenses and capital expenditure

  • Research and development: total in the R&D section of the annual securities report. Capital expenditure: this year’s actual spending in the capital expenditure overview (not a plan). Years: only those available in the annual securities reports on hand (one to four per company); no row for other years. Share of revenue: divided by consolidated revenue in the same annual securities report. Industry median: the middle value among companies in Land Transportation that disclose the item (industries with at least 5 companies only). Segment names and order: the same as the segment table above. Group-wide research and adjustments mean segment figures may not add up to the company-wide amount.

Revenue scale in the same industry

  • Revenue (disclosed values) of companies in the same industry, using the same grouping as the industry pages. Only the top three and the two companies either side of this one. Bar length relative to the largest company (100). An order of size, not a ranking of quality

Workforce information

  • All four: the reporting company (parent-only), as disclosed in the employee section of the annual securities report. Employees across the consolidated group: 11,772 (a different scope, kept apart from the four above). Industry median: the middle value among companies in Land Transportation that disclose the item (industries with at least 5 companies only).

People and organisation

  • Sales per employee　Net sales (or operating revenue) ÷ employees
  • Operating income per employee　Operating income ÷ employees
  • Wage gap between men and women　Women's pay with men's pay set to 100, reporting company
  • Women in managerial positions　Reporting company (parent only)
  • Men taking childcare leave　Reporting company (parent only)
  • Employees by gender　gBizINFO
  • Female officers　gBizINFO: 2 women among 12 officers
  • Average temporary staff　Consolidated, average headcount other than regular employees

Workplace information filings

  • Source: processed from Shokuba-labo, the workplace information site of the Ministry of Health, Labour and Welfare. Items the company filed only Shokuba-labo

Audit and disclosure information

  • Whether there is a going concern note (the accounting assumption that a company will continue operating), and audit information
  • Audit firm, audit fees, going concern note and accounting standard: facts written in the latest annual securities report and the audit report filed with it (not a judgement of the company). Going concern note: “note” when the note text is present, “not applicable” when the report states nothing to report, “cannot be determined” when neither appears. Note text not reproduced. Amended filings not shown (annual securities reports only)

Data sources and calculation methods

Primary source: the annual securities report of SBS Holdings, Inc. on EDINET, the FSA’s disclosure system (free to read)
Corporate number: 4010601013288 / Accounting standard: Japanese GAAP

  • Amounts: machine transcription of EDINET XBRL (no manual re-keying). Long narrative notes are text and not in the account list. Identifiers: machine transcription of the EDINET code list (retrieved 2026-08-22)
  • ★: position of the value calculated from disclosed figures among the 4,240 companies on this site, on a five-step scale. Not a judgement of the company. No forecasts usedThe formulas and how they are counted
  • No rank: net assets as a share of total assets, cash conversion and revenue per employee (size alone does not show quality). Industry median shown for comparison. Cash conversion of 100%: operating cash flow equal to operating profit
  • Profit-and-loss chart: only where “sales − cost of sales − SG&A = operating income” holds between disclosed values. Cost breakdown: the six largest SG&A items
  • Trend charts: key financial indicators of the annual securities report. Amounts in billions of yen (dividend per share in yen). Long-run chart joins reports filed in different years (newer report for overlapping years). Some items stop part-way after a change of accounting standard. A stock split changes the weight of one share. Consolidated and parent-only in separate tables
  • Revenue scale in the same industry: bars of revenue (disclosed values) of companies in the same industry grouping as the industry pages, largest first. Only the top three and the two companies either side of this one. Each company’s latest fiscal year. An order of size, not a ranking of quality or an investment view
  • Share prices: not published (no data source allows redistribution). No share-price-based indicators (such as the price earnings ratio) and no extension of past growth into the future
  • Average age, average length of service and average annual salary: the reporting company alone (the parent). At a holding company, a small head-office staff. Payout ratio (basic facts): dividend per share ÷ consolidated earnings per share, calculated here (the payout ratio in the annual securities report is the reporting company’s figure, on a different basis). Representative and founding date: gBizINFO (Ministry of Economy, Trade and Industry), some companies only
  • “Retrieved disclosed figures”: every value readable as a number from the annual securities report. Company-wide values only (no segment or other breakdowns)
  • Segment table: machine transcription of the segment information in the annual securities report. Business names as labelled by the company in its XBRL. No table where segment sales differ from the disclosed total by more than 1%. Adjustments, corporate, eliminations and “other” left out of the table and the share denominator, as they are not businesses
  • Breakdowns of amounts, not diagrams of how the business works. Who pays whom, and for what, is not in the disclosed figures; no lines drawn from guesswork