Added to YB: 2023-12-18
Pitch date: 2023-12-13
9381.T [bullish]
AIT Corporation
+32.37%
current return
Author Info
Company Info
AIT Corporation operates as an comprehensive logistics company in China and Southeast Asia. The company provides marine and air freight forwarding, motor truck and railroad cargo forwarding, coastal freight forwarding, airfreight agency, customs clearance, warehousing, ship brokerage, and nonlife insurance agency services.
Market Cap
JPY 42.2B
Pitch Price
JPY 1.6K
Price Target
N/A
Dividend
N/A
EV/EBITDA
5.37
P/E
14.11
EV/Sales
0.55
Sector
Air Freight and Logistics
Category
value
AIT Corp $9381 and other Attractive Logistics Companies operating in Japan
AIT Corp: Cheap Japan freight forwarder w/ 40% net cash. 10yr 12.8% rev CAGR, 4.5 EBITDA yield. China-Japan sea freight focus, 9.3% vol drop but income up on margins & costs. Stable rev since '05, EPS guided ¥157 FY24 (10.6 PE, 6.4 ex-cash) vs 15 PE history. 37.5% ROIC, 22.5% ROE. Beats EU peer Clasquin on cost & 44-49% EV/EBITDA & PE discount. Pres owns 32.7%, KKR 20% (may buy all). 50%+ payout via buyback & divs. Risk: margin drop, China-Japan tensions.
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