Kawanishi Warehouse Co., Ltd. (9322) AI Stock Analysis

Kawanishi Warehouse Co., Ltd.

(TSE/TYO:9322)

Select Model

Rating:61Neutral

Price Target:JPY 2,620.00▲(12.45% Upside)

Action:reiterated

Date:08/19/26

The overall score of 61 reflects a company with a solid financial foundation but significant earnings headwinds. The strong balance sheet and positive technical momentum are the primary supports for the score. However, these are offset by a very high valuation multiple that is difficult to justify given declining profitability and softening cash flows. The stock appears to be riding bullish market sentiment despite weak fundamental earnings trends.

Positive Factors

Deleveraging and financial flexibilityLower leverage reduces balance-sheet risk and improves the company’s ability to absorb cyclical logistics demand, fund operations, and pursue necessary investment without relying as heavily on external financing.

Negative Factors

Low revenue growthLimited top-line expansion constrains the company’s ability to generate operating leverage and absorb cost inflation, leaving medium-term earnings dependent more on efficiency than on strong market growth.

Kawanishi Warehouse Co., Ltd. (9322) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 17.83B
Dividend Yield: 7.80%
Average Volume (3M): 8,686
Price to Earnings (P/E): 33.7
Beta (1Y): 0.64
Revenue Growth: 3.75%
EPS Growth: -30.45%
Country: Japan
Employees: 743
Sector: General
Sector Strength: 55
Industry: Specialty Business Services

Kawanishi Warehouse Co., Ltd. Business Overview & Revenue Model

Company Description

Kawanishi Warehouse Co.,Ltd., founded in Kobe, Japan, in 1918, is a comprehensive logistics provider operating both domestically and globally. The company offers a wide spectrum of warehousing solutions, including advanced frozen and refrigerated sto...

How the Company Makes Money

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Kawanishi Warehouse Co., Ltd. Financial Statement Overview

Summary

Financial performance is mixed. The balance sheet is a clear strength (Score 78) with low leverage and growing equity. However, the income statement (Score 48) shows weak and declining profitability, and cash flow (Score 58) has softened recently. The overall financial foundation is stable but earnings momentum is a concern.

Income Statement

48Neutral

Balance Sheet

78Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	26.81B	26.40B	25.54B	24.99B	27.11B	23.62B
Gross Profit	4.34B	4.18B	3.79B	3.74B	3.49B	3.02B
EBITDA	2.57B	2.60B	2.52B	2.44B	3.46B	1.92B
Net Income	528.80M	636.22M	746.44M	796.77M	1.49B	523.15M
Balance Sheet
Total Assets	42.12B	40.25B	38.38B	38.14B	37.84B	36.88B
Cash, Cash Equivalents and Short-Term Investments	5.49B	5.73B	5.27B	5.61B	5.03B	4.11B
Total Debt	11.61B	9.55B	8.54B	9.48B	10.34B	10.85B
Total Liabilities	17.21B	14.70B	13.96B	14.59B	15.92B	16.80B
Stockholders Equity	21.30B	22.11B	21.31B	20.62B	19.28B	17.64B
Cash Flow
Free Cash Flow	0	871.19M	966.62M	1.60B	1.69B	-2.18B
Operating Cash Flow	0	1.68B	2.45B	2.15B	2.68B	1.32B
Investing Cash Flow	0	-560.49M	-1.18B	-749.77M	-1.65B	-2.13B
Financing Cash Flow	0	-301.86M	-1.14B	-1.03B	-948.09M	1.21B

Kawanishi Warehouse Co., Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price2330.00

Price Trends

50DMA2378.58Negative

100DMA2338.26Negative

200DMA2414.00Negative

Market Momentum

MACD-11.65Negative

RSI44.70Neutral

STOCH60.36Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9322, the sentiment is Negative. The current price of 2330.00 is below the 20-day moving average (MA) of 2333.20, below the 50-day MA of 2378.58, and below the 200-day MA of 2414.00, indicating a bearish trend. The MACD of -11.65 indicates Negative momentum. The RSI at 44.70 is Neutral, neither overbought nor oversold. The STOCH value of 60.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9322.

Kawanishi Warehouse Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

JP:9322 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:9307	75Outperform	JPY 14.11B	14.60	―	1.74%	0.98%	6.42%
JP:7811	71Outperform	JPY 21.82B	7.85	―	3.19%	5.98%	52.32%
JP:9319	66Neutral	JPY 29.86B	14.29	―	2.67%	1.35%	23.08%
JP:9324	61Neutral	JPY 74.96B	7.39	―	3.01%	2.00%	236.91%
JP:9322	61Neutral	JPY 17.74B	33.71	―	7.80%	3.75%	-30.45%
JP:9313	56Neutral	JPY 6.19B	14.89	―	2.31%	0.96%	-52.44%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

JP:9322 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:9322	Kawanishi Warehouse Co., Ltd.	2320.00	1022.03	78.74%
JP:7811	Nakamoto Packs Co. Ltd.	2446.00	697.75	39.91%
JP:9307	Sugimura Warehouse Co., Ltd.	863.00	-83.28	-8.80%
JP:9313	Maruhachi Warehouse Company Limited	1038.00	137.26	15.24%
JP:9319	Chuo Warehouse Co., Ltd.	1574.00	283.38	21.96%
JP:9324	Yasuda Logistics Corporation	2588.00	482.72	22.93%

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 19, 2026

Kawanishi Warehouse Co., Ltd. AI Stock Analysis