Kamigumi is one of the most important port infrastructure company in Japan with a leading share in the top 6 ports in Japan. It is valued attractively and provides a very good shareholder yield.
I'm generally a fan of the logistic/infrastructure companies. A lot to like here. Only wish P/B was a little lower, but they check so many boxes with buybacks, dividend growth, and good earnings. Putting this one on the watch list for sure.
They aggressive buyback is exactely what they HAVE to do to comply to the new japanese regulation and pump the price. They currently are below the P/B of 1 at 0.86. This is a large co trading on the prime market so the P/B need to be corrected. They have a mountain of cash and investments. I could not retrieve the latest 1H results please provide a link here. I am planning to do an update to all my japanese holdings - Kamigumi, Okano Valve, Nintendo, Yamada corp, Takeuchi, Fukui computer followed latest results and tariffs impact
Thanks for sharing! I'm kind of curious about Piraeus in the peer list. Seems so much cheaper than most of its competitors. Has it ever piqued your interest. It's not really geographically diversified and China Cosco Shipping is the majority owner ..
Also, results haven't been nearly as stable as those of Kamigumi, I'm not sure how sustainable the current profits are. Still, despite all that it seems cheap-ish?
when you have a dominant shareholder (66% in tis case) in many countries - i know for sure in Italia - the minority shareholder has almost no rights. The majority shareholder canv take the stock over at a small premium price. Piraeus trades in Greece. No clue if minority shareholder are well protected there but I seriously doubt. I don't touch this.
I'm generally a fan of the logistic/infrastructure companies. A lot to like here. Only wish P/B was a little lower, but they check so many boxes with buybacks, dividend growth, and good earnings. Putting this one on the watch list for sure.
Today Kamigumi announced buy back (5,07% shares - 17BN YEN) and showed HY results, and the whole year forecast.
I would really like to know your opinion about these developments.
Thanks.
They aggressive buyback is exactely what they HAVE to do to comply to the new japanese regulation and pump the price. They currently are below the P/B of 1 at 0.86. This is a large co trading on the prime market so the P/B need to be corrected. They have a mountain of cash and investments. I could not retrieve the latest 1H results please provide a link here. I am planning to do an update to all my japanese holdings - Kamigumi, Okano Valve, Nintendo, Yamada corp, Takeuchi, Fukui computer followed latest results and tariffs impact
Now the results are on their website:
https://ssl4.eir-parts.net/doc/9364/tdnet/2531330/00.pdf
This is what i found:
Nov 13 (Reuters)-
Kamigumi Co Ltd
CONSOLIDATED FINANCIAL HIGHLIGHTS
(in billions of yen unless specified)
6 months ended 6 months ended Year to
Sep 30, 2024 Sep 30, 2023 Mar 31, 2025
LATEST YEAR-AGO LATEST
RESULTS RESULTS FORECAST
Sales 137.66 134.50 274.00
(+2.3 pct) (-3.6 pct) (+2.7 pct)
Operating 16.88 15.43 31.30
(+9.3 pct) (-5.0 pct) (+2.3 pct)
Recurring 18.69 17.44 34.20
(+7.2 pct) (-4.8 pct) (+0.0 pct)
Net 13.52 12.62 25.00
(+7.2 pct) (+2.0 pct) (-0.1 pct)
EPS 126.98 yen 116.32 yen 239.64 yen
Ann Div 100.00 yen 100.00 yen
-Q2 div 50.00 yen 45.00 yen
-Q4 div 55.00 yen 50.00 yen
NOTE - Kamigumi Co Ltd.
To see Company Overview page, click reuters://REALTIME/verb=CompanyData/ric=9364.T
Dow Jones Global News
Kamigumi Co Sees FY Net Y25.00B
Nov 13, 2024
Kamigumi Co. Ltd. also released the following forecasts:
GROUP Year Ending
Mar 2025
Revenue Y274.00 bln
Operating Profit Y31.30 bln
Pretax Profit Y34.20 bln
Net Profit Y25.00 bln
Per share
Earnings Y239.64
Results are based on Japanese accounting standards.
Thanks for sharing! I'm kind of curious about Piraeus in the peer list. Seems so much cheaper than most of its competitors. Has it ever piqued your interest. It's not really geographically diversified and China Cosco Shipping is the majority owner ..
Also, results haven't been nearly as stable as those of Kamigumi, I'm not sure how sustainable the current profits are. Still, despite all that it seems cheap-ish?
when you have a dominant shareholder (66% in tis case) in many countries - i know for sure in Italia - the minority shareholder has almost no rights. The majority shareholder canv take the stock over at a small premium price. Piraeus trades in Greece. No clue if minority shareholder are well protected there but I seriously doubt. I don't touch this.
Great read, enjoyed the thorough analysis
Glad you like Alan.
I'm completely new to this space. What is your view on Japanese import and export volumes? Where do you see this heading?
and grows tomatoes :)
Hi,
what kind of "Japanese handbook" do we see in picture 1?
Thanks!
japan company handbook from Toyo keizai (quarterly 2024)