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Japan's largest logistics company, offering freight forwarding, warehousing and moving services worldwide.
Japan's largest logistics company, offering freight forwarding, warehousing and moving services worldwide.
Earns fees by arranging freight, booking space with airlines and shipping lines and reselling it at a margin, by running warehouses and trucks, and by moving households. Japan is the largest base. It reorganised as a holding company, Nippon Express Holdings, in 2022 to run the group as one global logistics network.
In one line: Japan's DHL/CH Robinson.
Moat: narrow (scale, distribution, installed base). Extensive global network and long incumbency serving Japanese multinational shippers.
Headquarters: Tokyo, Japan · Founded: 1937 · Employees: 77,925
Size Nippon Express Hldgs (9147.T) is a Japan Industrials company (Air Freight/Couriers) with a market value of $8.22B, the 162nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥5,498 on 6 Nov 2026.
Performance Over six months the shares gained 35.4%, against -1.7% for the median peer and +1.8% for the Japan market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue grew 2.3% over the last twelve months (peer median +10.9%); the operating margin is 3.0% (peer median 5.2%).
Valuation It trades at 17.6× forward earnings against a peer median of 14.4× (4th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +4 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.9 points below its cost of capital (5.6% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥2.66T | ¥2.57T | ¥2.58T | ¥2.24T | ¥2.62T |
| Revenue growth | — | 0% | +15% | -14% | — |
| Gross profit | ¥238B | ¥221B | ¥204B | ¥211B | ¥260B |
| EBITDA | ¥279B | ¥258B | ¥247B | ¥234B | ¥279B |
| Net income | ¥18.4B | ¥2.69B | ¥31.7B | ¥37.0B | ¥108B |
| Free cash flow | ¥132B | ¥140B | ¥170B | ¥133B | ¥251B |
| Capital expenditure | ¥75.1B | ¥83.1B | ¥73.0B | ¥67.4B | ¥59.3B |
| Total debt | ¥870B | ¥879B | ¥796B | ¥734B | ¥632B |
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 |
|---|---|---|---|---|---|---|
| Nippon Express Hldgs 9147.T | $8.22B | +35% | +2% | 3% | 17.6× | 7.9% |
| SG Holdings Co., Ltd. 9143.T | $5.56B | +1% | +14% | 5% | 14.0× | -2.6% |
| Yamato 9064.T | $4.83B | +26% | +2% | 2% | 34.5× | 8.9% |
| Deutsche Post DHL.DE | $72.8B | +21% | +1% | 8% | 16.0× | 3.3% |
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 | 9147.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.0% | +5.4% | 4th lowest of 21 |
| 6-month return | +35.4% | -1.7% | highest of 20 |
| Distance from 52-week high | -8.8% | -17.6% | 9th highest of 21 |
| Revenue growth (TTM) | +2.3% | +10.9% | 5th lowest of 21 |
| Operating margin | 3.0% | 5.2% | 9th lowest of 21 |
| Forward P/E | 17.6× | 14.4× | 4th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 7.9% | -1.6% | 6th most demanding of 18 |
| Growth delivered (Del g) | +4.4% | +8.5% | 7th lowest of 18 |
| Hurdle (Req g minus delivered) | +3.5 pp | -11.3 pp | 5th most demanding of 18 |
| ROIC minus cost of capital | -1.9 pp | +1.2 pp | 6th lowest of 21 |
| EV / EBITDA | 7.0× | 7.8× | 4th cheapest of 10 |
| Net debt / EBITDA | 2.3× | 1.4× | 5th most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nippon Express Hldgs 9147.T | Japan | $8.22B | +35% | +2% | 3% | 17.6× | 7.9% | +4.4% |
| Jd Logistics 2618.HK | Hong Kong | $9.10B | -29% | +29% | 3% | 6.9× | -0.4% | +23.4% |
| Yunnan Yuntianhua 600096.SS | China | $7.17B | -28% | -19% | 11% | 9.3× | -1.7% | -1.5% |
| YTO Express 600233.SS | China | $9.63B | -13% | +8% | 9% | 10.3× | -12.2% | +16.6% |
| Sinotrans 601598.SS | China | $6.74B | +18% | -1% | 0% | 14.8× | 4.3% | +2.7% |
| Ryder System R | United States | $10.2B | +11% | +3% | 8% | 15.2× | 7.9% | +8.5% |
| GXO Logistics GXO | United States | $6.33B | +7% | +7% | 3% | 16.0× | 20.2% | +16.3% |
| Hyundaiglovis 086280.KS | South Korea | $10.9B | -13% | +12% | 6% | 8.7× | -10.8% | +12.3% |
| J&T Global Express 1519.HK | Hong Kong | $11.9B | -2% | +32% | 6% | 18.6× | -3.8% | +51.4% |
| Swiggy SWIGGY.NS | India | $5.61B | -32% | +42% | -15% | n/a | n/a | n/a |
| SG Holdings Co., Ltd. 9143.T | Japan | $5.56B | +1% | +14% | 5% | 14.0× | -2.6% | +4.6% |
| Logista Integral LOG.MC | Spain | $5.42B | +15% | +4% | 2% | 15.8× | -5.9% | +5.4% |
| Delivery Hero DHER.DE | Germany | $12.9B | +31% | +11% | 0% | n/a | n/a | n/a |
| Delivery Hero SE TEMP DHE1.DE | Germany | $12.9B | n/a | +11% | 0% | n/a | n/a | n/a |
| Grab GRAB | United States | $13.9B | -8% | +23% | 11% | 23.3× | 17.8% | +48.4% |
| Yamato 9064.T | Japan | $4.83B | +26% | +2% | 2% | 34.5× | 8.9% | +1.9% |
| Compagnie de l'Odet ODET.PA | France | $4.74B | -30% | -83% | -8% | n/a | 24.3% | -29.4% |
| Eastern Air Logistics 601156.SS | China | $4.70B | +23% | +20% | 14% | 10.9× | -16.0% | +9.9% |
| C.H. Robinson CHRW | United States | $14.5B | -27% | +10% | 5% | 17.2× | 9.2% | 0.0% |
| Zto Express-w 2057.HK | Hong Kong | $15.6B | -19% | +21% | 20% | 10.2× | -1.6% | +13.5% |
| Shanghai Zhonggu Logistics 603565.SS | China | $3.97B | +16% | +4% | 27% | 10.4× | -14.4% | +0.4% |