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Japanese trading company specializing in distributing steel, non-ferrous metals and foodstuffs domestically and internationally.
Japanese trading company specializing in distributing steel, non-ferrous metals and foodstuffs domestically and internationally.
Earns a trading margin: buys steel, metals and foods from producers and resells them to manufacturers, builders and food companies, often arranging finance and shipping in between, so profit depends on volume and the price spread rather than the price level. Steel and metals carry most of the business.
In one line: A metals-and-food-focused trading house, akin to a mini Marubeni.
Moat: narrow (distribution, scale). Long-standing global trading networks and logistics scale in steel and metals distribution.
Headquarters: Osaka, Japan · Founded: 1947 · Employees: 6,079
Size Hanwa (8078.T) is a Japan Industrials company (Wholesale Distributors) with a market value of $2.29B, the 445th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,720 on 6 Nov 2026.
Performance Over six months the shares gained 6.6%, against +0.4% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 6.4% over the last twelve months (peer median +6.6%); the operating margin is 2.4% (peer median 7.0%).
Valuation It trades at 7.8× forward earnings against a peer median of 18.9× (3rd cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.2 points above its cost of capital (6.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥2.74T | ¥2.66T | ¥2.55T | ¥2.43T | ¥2.67T |
| Revenue growth | — | +4% | +5% | -9% | — |
| Gross profit | ¥150B | ¥141B | ¥141B | ¥120B | ¥129B |
| EBITDA | ¥74.4B | ¥68.3B | ¥71.6B | ¥59.2B | ¥71.7B |
| Net income | ¥39.8B | ¥38.3B | ¥45.5B | ¥38.4B | ¥51.5B |
| Free cash flow | n/a | ¥70.5B | ¥1.64B | ¥8.56B | ¥271B |
| Capital expenditure | n/a | ¥3.86B | ¥8.49B | ¥9.63B | ¥12.9B |
| Total debt | ¥366B | ¥357B | ¥382B | ¥365B | ¥381B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hanwa 8078.T | $2.29B | +7% | +6% | 2% | 7.8× | -4.2% |
| Mitani 8066.T | $1.45B | +4% | +1% | 10% | n/a | -12.2% |
| Marubeni 8002.T | $49.7B | -22% | +14% | 4% | 12.3× | 17.7% |
| Shinsho 8075.T | $485M | +24% | +4% | 2% | n/a | -3.3% |
| Sojitz 2768.T | $5.77B | -19% | +27% | 3% | 7.6× | n/a |
| Kanematsu 8020.T | $2.35B | +2% | +4% | 5% | 9.6× | -2.4% |
| Sumitomo 8053.T | $47.7B | +9% | +6% | 5% | 11.3× | 15.2% |
| Toyota Tsusho 8015.T | $36.8B | +2% | +25% | 5% | 13.0× | 9.8% |
| Mitsui & 8031.T | $82.4B | -22% | +10% | 3% | 12.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 8078.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.2% | -5.0% | 9th lowest of 21 |
| 6-month return | +6.6% | +0.4% | 8th highest of 21 |
| Distance from 52-week high | -13.4% | -23.9% | 6th highest of 21 |
| Revenue growth (TTM) | +6.4% | +6.6% | 11th highest of 21 |
| Operating margin | 2.4% | 7.0% | 3rd lowest of 19 |
| Forward P/E | 7.8× | 18.9× | 3rd cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -4.2% | 6.6% | 5th least demanding of 19 |
| Growth delivered (Del g) | +8.8% | +7.3% | 9th highest of 19 |
| Hurdle (Req g minus delivered) | -13.0 pp | -1.9 pp | 4th least demanding of 19 |
| ROIC minus cost of capital | +0.2 pp | +0.8 pp | 9th lowest of 19 |
| Net debt / EBITDA | 3.7× | 1.5× | 3rd most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hanwa 8078.T | Japan | $2.29B | +7% | +6% | 2% | 7.8× | -4.2% | +8.8% |
| OEM International OEM-B.ST | Sweden | $2.34B | +11% | +11% | 15% | 29.9× | 14.6% | +10.1% |
| DNOW DNOW | United States | $2.40B | +2% | +70% | -3% | 23.6× | 9.8% | +11.7% |
| DXP Enterprises DXPE | United States | $2.18B | -10% | +11% | 9% | 20.7× | 6.6% | +14.9% |
| Boise Cascade BCC | United States | $2.44B | -1% | +1% | 3% | 24.1× | 7.7% | +3.2% |
| Xinhua Winshare Publishing & Media 601811.SS | China | $2.52B | +26% | -4% | 7% | 15.2× | -11.4% | +5.4% |
| Bufab BUFAB.ST | Sweden | $2.55B | +16% | +8% | 13% | 29.2× | 18.7% | +11.2% |
| Workman 7564.T | Japan | $2.57B | -31% | +21% | 19% | 17.1× | 4.6% | +8.7% |
| Shanghai Xinhua Media 600825.SS | China | $2.03B | +118% | +1% | -1% | n/a | 44.5% | +2.3% |
| Currys CURY.L | United Kingdom | $1.97B | +16% | +6% | 2% | 10.4× | 4.3% | -2.2% |
| BIC Cameras 3048.T | Japan | $1.94B | +10% | +7% | 4% | 15.2× | -8.2% | +4.5% |
| IWATANI 8088.T | Japan | $2.73B | -4% | +5% | 5% | 7.6× | 4.3% | +10.1% |
| Dalrymple Bay Infrastructure DBI.AX | Australia | $1.92B | +6% | +11% | 29% | 26.2× | 7.8% | +104.8% |
| ARE 5857.T | Japan | $1.89B | +1% | +38% | 7% | 9.3× | 2.0% | +29.4% |
| Marco Polo 001386.SZ | China | $2.80B | -15% | -12% | 21% | n/a | -7.2% | -5.5% |
| Travis Perkins TPK.L | United Kingdom | $1.86B | +28% | 0% | 3% | 23.2× | 8.5% | +4.3% |
| Jiangxi Tungsten Rare and Precious Equipment 600397.SS | China | $1.86B | -13% | -92% | n/a | 156.9× | n/a | n/a |
| Jiangsu Azure 002245.SZ | China | $2.82B | -21% | +27% | 12% | 14.6× | 11.8% | +13.8% |
| Pengxin International Mining 600490.SS | China | $1.85B | -32% | -20% | n/a | n/a | 6.6% | -17.2% |
| Tibet Huayu Mining 601020.SS | China | $1.83B | -48% | -22% | 23% | n/a | n/a | n/a |
| Inchcape INCH.L | United Kingdom | $2.87B | -21% | +7% | 6% | 7.5× | -6.0% | +5.9% |