Nanso Transport Co., Ltd. (9034) AI Stock Analysis

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Nanso Transport Co., Ltd.

(TSE/TYO:9034)

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Rating:73Outperform

Price Target:JPY 1,830.00▲(13.81% Upside)

Action:reiterated

Date:08/17/26

The score is driven primarily by sound financial fundamentals (steady revenue growth and an improving, conservative balance sheet), tempered by volatile free cash flow. Technicals are supportive with the stock trading above key moving averages and positive MACD. Valuation further lifts the score due to a modest P/E and a strong dividend yield.

Positive Factors

Consistent revenue growthSustained top-line growth over multiple years signals expanding market share and stable demand for core logistics services. This scale expansion underpins operational leverage, supports investment capacity, and provides a durable base for earnings resilience across industry cycles.

Negative Factors

Volatile free cash flowWide swings in free cash flow point to inconsistent capital expenditure timing or working-capital management, which undermines predictability of cash available for dividends, buybacks, or strategic investments. This volatility reduces financial optionality and complicates planning.

Nanso Transport Co., Ltd. (9034) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 15.25B
Dividend Yield: 4.98%
Average Volume (3M): 5,155
Price to Earnings (P/E): 11.1
Beta (1Y): 0.43
Revenue Growth: 2.56%
EPS Growth: -1.13%
Country: Japan
Employees: 866
Sector: Industrials
Sector Strength: 63
Industry: Integrated Freight & Logistics

Nanso Transport Co., Ltd. Business Overview & Revenue Model

Company Description

NANSO Transport Co.,Ltd., established in 1942 and headquartered in Togane, Japan, specializes in providing a wide array of logistics services. The company operates a diverse fleet, including small, medium, and large vehicles, trailers, specialized un...

How the Company Makes Money

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Nanso Transport Co., Ltd. Financial Statement Overview

Summary

Solid fundamentals overall: revenue has grown steadily over multiple years and profitability remains stable. The balance sheet is a clear strength with improving leverage (debt-to-equity trending down). The key constraint is uneven free cash flow, including volatility and weaker conversion vs. net income in the most recent period, which lowers the quality/consistency of financial performance.

Income Statement

72Positive

Balance Sheet

78Positive

Cash Flow

54Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	16.67B	16.50B	16.11B	15.48B	14.42B	14.30B
Gross Profit	2.97B	2.93B	2.93B	2.77B	2.43B	2.31B
EBITDA	3.36B	3.37B	3.16B	3.39B	2.63B	2.59B
Net Income	1.37B	1.35B	1.37B	1.58B	1.08B	1.03B
Balance Sheet
Total Assets	34.99B	34.45B	33.57B	35.27B	34.76B	32.91B
Cash, Cash Equivalents and Short-Term Investments	4.45B	4.23B	3.83B	5.77B	4.69B	4.51B
Total Debt	8.00B	7.85B	7.78B	9.32B	10.45B	9.75B
Total Liabilities	11.97B	11.54B	11.59B	13.61B	14.34B	13.21B
Stockholders Equity	23.02B	22.92B	21.98B	21.66B	20.42B	19.70B
Cash Flow
Free Cash Flow	0	832.69M	564.69M	1.96B	-172.43M	-9.14M
Operating Cash Flow	0	2.61B	2.03B	2.57B	2.14B	1.80B
Investing Cash Flow	0	-1.82B	-1.34B	8.31M	-2.31B	-1.79B
Financing Cash Flow	0	-447.81M	-2.60B	-1.50B	344.51M	959.61M

Nanso Transport Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

JP:9034 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:9025	83Outperform	JPY 157.69B	11.89	―	3.67%	1.34%	9.01%
JP:9034	73Outperform	JPY 15.81B	11.10	―	4.98%	2.56%	-1.13%
JP:9304	66Neutral	JPY 116.54B	14.03	―	4.34%	6.44%	42.98%
JP:9351	66Neutral	JPY 14.45B	9.19	―	4.79%	7.98%	13.76%
JP:9306	65Neutral	JPY 13.11B	11.21	―	3.82%	4.73%	-21.34%
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
JP:9312	58Neutral	JPY 18.87B	6.06	―	3.51%	-5.75%	25.31%

* Industrials Sector Average

Performance Comparison

JP:9034 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:9034	Nanso Transport Co., Ltd.	1608.00	162.98	11.28%
JP:9025	Konoike Transport Co., Ltd.	2995.00	-169.05	-5.34%
JP:9304	Shibusawa Warehouse Co., Ltd.	1957.00	878.84	81.51%
JP:9306	Toyo Logistics Co., Ltd.	1963.00	66.04	3.48%
JP:9312	Keihin Co., Ltd.	2852.00	225.76	8.60%
JP:9351	Toyo Wharf & Warehouse Co., Ltd.	1878.00	315.06	20.16%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 17, 2026

Nanso Transport Co., Ltd. AI Stock Analysis