内外トランスライン（9384）
Contents
1. SR a Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved a e 541 0052 3 5 122. 2011 1 Logistics Plus India LPI 3PL 3rd Party Logistics 3PL 3PL
3. 1 2 a e Shared search http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared 7 SR Research Report 2014 5 13 2012 12 2013 12 LCL 4 740 4 625 2 4 FCD 1 528 1 703 11 4 480 569 6 749 6 897 2 2 74 8 72 6 LCL 1 342 1 334 0 6 FCD 644 903 17 3 40 2 2 272 2 597
4. SR Inc SR Inc Shared Researcn SR Inc
5. 2012 12 56 35 6 1 M amp A SR Weaknesses
6. LCL 1 9101 1 9104 1 9107 OOCL 0316HK 117930KS 1 9301 1 9302 1 9065
7. Cargo One Inc LOGISTICS PLUS INDIA PRIVATE LIMITED 80 NTL NAIGAI TRANS LINE USA INC Cargo One Inc e SR Research Report 2014 5 13 10H 2012 11 2013 2 2013 6
8. 2013 6 M amp A M amp A
9. Cargo One 17 7 5 49 1 7 3 3 5 4 2 4 6 Copyright C 2013 Shared Research Inc All Rights Reserved a i SR Research Report 2014 5 13 09 12 10 12 11 12 12 12 13 12 14 12
10. 72 1 5 6 4 7 18 49 10 26 6 4 5 2 5 3 69 2012 12 3 LCL
11. GCA SBS
12. 2012 4 LCL LCL 2013 12 27 2013 2 2013 6
13. 5 ASEAN 10 230 7 ROE12 3 PL 3PL 2 lt 3 M amp A SR M amp A 10 2016 12 250
14. 5 b LOL 359 http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved a 2014 5 13 SR Research Report 2014 5 13 FCL 15 LCL 45 60 5 6
15. DIC KLab TOKAI
16. 52 8 11 8 2013 6 1 2 2 6 24 89 22 2 25 9 2 4 44 5 22 3 9 1 FCL 15
17. 13 6 EN 35 4 1 0 4 9 12 4 22 5 LOL 27 0 29 3 LCL 2 3 10 1 20 2 2 4 33 4
18. 2012 2013 LCL 2008 12 3 FEAR E 1 2 N Shar ed Gesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved SR Research Report 2014 5 13 55A sm 2010 500 2011 450 2013 2012 400 350 300 250 1 2B 3B 4 5B 6 7
19. 2014 4 Ld gt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved i SR Research Report 2014 5 13 J 3PL 2 3 2014 4 IT a Shared esearch gt http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved we SR Research Repo
20. 2012 12 1 2 2012 12 25 15 55 Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved SR Research Report 2014 5 13 LES 2014 5 13 2014 12 1 2014 12 1 2014 4 30 2014 12 1 3 amp EAA 10 2Q 3Q 4Q 1Q 2Q 3Q 4Q 3 465 4 034 4 49
21. esearch gt http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9384 SR Research Report 2014 5 13 20 000 18 000 D LCL 16 000 Eu 14 000 12 000 7 LCL 10 000 LCL 5 8 000 a 6 000 LCL 2 4 000 2 000 LCL TIF HHA EN A BERE 7 2 000 2009 12 3 5
22. LCL Less than Container Load 3PL 3rd Party Logistics 1960 1970 PCC Pure Car Carrier http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e SR Research Report 2014 5 13
23. 3 4 LCL 8 9 FCL 8 6 FCL LCL FCL 2 5 22 59
24. 2011 14 296 14 49 10 29 12 19 A x 100 x100 gt Shared Research http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9384 SR Research Report 2014 5 13 16 COSCO APM Maersk Frontline Teekay MISC Evergreen Pasific Basin 0 20 40 60 80 100 LNG 2013 3 SR L N G
25. Ld gt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e Shared esearch http www sharedresearch jp we SR Research Report 2014 5 13 2012 12 ARS 2 2012 12 2 64 8 4 59 4 8 10 7 5 2 4 3 3 1 8 6 LCL 8 4 FCL 11 0 6 7 Door to Door 47 2 4 2 3 4 12 6 LCL
26. 118 3 20 79 GR 6 3 1 2 QR 27 229 4 10 12 28 09 30 19 28 8 30 79 LCL
27. SR Inc SR Inc SR Inc SR Tnc SR tnc 3 31 12 03 5834 8787 http www sharedresearch p Email info Osharedresearch jp Ld a gt Shared Research http www sharedresearch jp
28. 2 LCL 209 LCL 5 LCL LCL N gt Shared search http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved SR Research Report 2014 5 13 BARS 10 000 9 000 8 000 7 000 6 000 5 000 4 000 3 000 2 000 1 000 2010 2011 201218
29. 1 9375 Toll 1993 100 M amp A 1 400 2011 12 1 X FJL 80 Port to Port Door to Door E _ AS eo E a gt Shared Research http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved SR Research Report 2014 5 13 2014 4 NVOCC Port to Port
30. NTL NAIGAI TRANS LINE S PTE LTD NTL NAIGAI TRANS LINE THAILAND CO LTD PT NTL NAIGAI TRANS LINE INDONESIA 2003 1 H 2003 fF 8 H 2003 9 2004 8 2005 6 H 2006 2 2006 12 2008 11 2009 2 H 2010 2 H 2010 7 H 2011 1H 2012 4 2012 10 JVL AMERICA INC NTL NAIGAI TRANS LINE USA INC 909 NTL NAIGAI TRANS LINE KOREA CO LTD 5 NTL LOGISTICS HK LIMITED
31. 1 2 3 24 6 15 2 LCL 1 0 36 6 10 1 18 9 0 9 25 8 10 1 6 4 LCL
32. 35 14 8 FCL LCL 29 29 30 9 3 7 9 6 9 5 7 LOL FCL Wk 2013 6 1 a gt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved
33. 10 2013 12 4 PU 10 12 13 13 8 8 5 16 5 32 5 20 596 30 1 97 97 72 2013 12 http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights
34. 1980 1986 2013 1953 1999 2003 2012 2013 NVOCC FCL Full Container Load EX LNG 161 5C
35. 8 735 11 444 12 538 13 405 16 797 18 500 6 883 8 955 9 128 9 798 11 829 28 9 30 1 1 9 7 3 20 7 1 852 2 489 3 410 3 607 4 968 17 1 34 4 37 0 5 8 37 7 8 735 11 444 12 538 13 405 16 797 18 500 26 7 31 0 9 6 6 9 25 3 10 1 5 524 7 734 8 557 9 290 11 954 3 211 3 710 3 981 4 115 4 843 19 1 15 5 7 3 3 4 17 7 36 8 32 4 31 8 30 7 28 8 2 575 2 678 2 903 3 206 3 700 29 5 23 4 23 2 23 9 22 0 636 1 031 1 079 908 1 142 1 300 42 3 62 1 4 7 15 8 25 8 13 8 7 3 9 0 8 6 6 8 6 8 7 0 201 76 62 98 99 28 71 95 31 37 809 1 036 1 046 975 1 205 1 300 26 3 28 1 1 0 6 8 23 5 7 9 9 3 9 1 8 3 7 3 7 2 7 0 7 6 4 3 98 3 130 106 32 316 385 343 407 425 396 652 568 459 730 850 36 5 64 6 12 9 19 2 58 9 16 5 4 5 5 7 4 5 3 4 4 3 4 6 SR
36. 2013 10 H NTL NAIGAI TRANS LINE USA INC 2013 12 H NTL LOGISTICS PLUS INDIA PRIVATE LIMITED 2014 1 NTLLOGISTICS PLUS INDIA PRIVATE LIMITED NTL LOGISTICS INDIA PRIVATE LIMITED 2014 3 amp 2013 5 2013 5 28 FFS 411 FF FFS FF FFS
37. 2 45 1 102 77 Shared Research d http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved i SR Research Report 2014 5 13 92 46 1 2 3 3 2 4 QR 32 4 31 8 18 QR 1 6 56 3
38. 49 7 37 7 5 7 72 8 2013 12 1 97 72 79 81 FH 1 4 300 1 300 gt Shared Research http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved SR Research Report 2014 5 13 1 8 3 99 4 79 2013 12 3 2013 12 3 119 9 21 6 7 8 15 7 8 4 16 8 5 1 20 7 LCL 3 3 49
39. 29 3 31 99 Ld gt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved SR Research Report 2014 5 13 8 4 14 2 1 8 19 5 SR 3 6 2013 2 2013 12 2012 12 2012 12
40. FHR 2 446 2 596 2 616 5 261 5 349 EPS 161 97 265 26 218 32 87 49 137 81 158 92 EPS 156 84 260 68 215 31 86 52 DPS 40 0 50 0 55 0 55 0 32 5 32 5 BPS 1 709 1 811 1 911 1 057 1 228 3 161 3 960 3 895 3 957 4 033 3 672 4 586 4 573 4 988 6 138 447 428 612 633 631 997 701 715 931 947 104 218 425 558 1 264 5 220 5 933 6 326 7 110 8 980 503 604 620 762 1 197 87 49 256 865 1 057 1 030 1 232 2 026 i 42 27 149 153 256 268 329 1 014 1 210 1 285 1 499 2 355 4 206 4 723 5 041 5 611 6 625 129 75 256 524 820 701 668 432 172 27 574 671 499 99 36 106 263 52 ROA 7 8 11 7 9 3 6 8 9 1 ROE 9 8 14 6 11 7 8 7 12 0 80 6 79 6 79 7 78 9 73 8 SR
41. 2 0 2011 12 M amp A NTL Logistics plus India 2012 12 2013 12 M amp A GR Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared 9384 09 12 3 211 36 8 636 7 3 EBITDA 685 EBITDA 7 8 4 5 ROA 7 8 ROE 9 8 1 7 121 425 410 CF 0 60 68 0 CF 0 52 18 3 45
42. FFS 2013 2 8 2013 5 28 2013 6 1 2012 12 2012 12 14 2012 12 2012 12 gt Shared Research http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9384 SR Research Report 2014 5 13 EPS 13 400 940 980 600 114 09 13 500 1 230 1 230 780 148 79 0 7 23 6 20 3 23 1 12 538 1 078 1 046 568 109 16 6 9 12 8 6 3 5 6 EPS EDA 9 050 650 900 610 115 99 9 890 860 1 070 720 138 27
43. FCL 7 6 3 LCL FCL Gk 84 6 17 4 4 3 8 79 5 7 35 3 33 0 4 0 59 6
44. LCL 39 29 7 31 59 LCL FCL M amp A 4 7 2 6 Ld a gt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved SR Research Report 2014 5 13 2 4 6 7 3 1 1 3 5 1 6 7 3 6 2013 12 1US 85 1 4 700
45. 134 1 6 9 9 1 15 8 9 8 6 8 4 6 19 2 0 94 2012 12 2011 12 2013 12 3 I NTL Next Stage 2 6 9
46. 29 7 28 1 1 758 1 942 23 4 20 9 470 672 600 700 1 300 2 6 58 1 27 6 4 2 13 8 6 3 7 2 6 7 7 4 7 0 510 695 600 700 1 300 2 1 52 9 17 6 0 8 7 9 6 8 7 5 6 7 7 4 7 0 307 423 400 450 850 2 0 191 4 29 9 6 5 16 5 SR 2014 12 185 10 19 20 09 2 2 2013 6 LCL 3 49
47. SR esearch http www sharedresearch jp 10 12 3 710 32 4 1 031 9 0 1 106 9 7 5 7 11 7 14 6 2 1 103 434 423 0 85 75 5 0 68 11 9 18 11412A 3 981 31 8 1 079 8 6 1 212 9 7 4 5 9 3 11 7 2 0 57 444 433 0 67 68 8 0 55 10 5 46 SR Research Report 2014 5 13 12412A 4 115 30 7 908 6 8 1 059 7 9 3 4 6 8 8 7 2 0 93 405 392 0 59 60 3 0 45 7 8 150 Copyright C 2013 Shared Research Inc All Rights Reserved 13412A 4 843 28 8 1 142 6 8 1 324 7 9 4 3 9 1 12 0 2 1 509 303 284 0 27 52 8 0 18 2 0 416 SR Research Report 2014 5 13 SW Strengths Weaknesses Strengths
48. SR Research Report 2014 5 13 1 5 20 12 50 32 50 R ERD 2013 12 16 500 15 000 1 100 1 300 1 150 1 300 730 800 2014 12 180 13 SR 2013 12 2 2013 7 30 2013 12 2 2013 12 2 75 15 6 LCL FCL
49. 06 6260 4710 2 1980 5 1 2008 11 5 HP http www ntl naigai co jp guest index do 12H IR IR IR http www ntl naigai co jp ir IR 06 6260 4800 T E gt Shared Research gt http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved rd e SR Research Report 2014 5 13 SR Research Report 2014 5 13 SR
50. Shared jesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved i SR 09 12 193 an nu N A o 362 865 149 149 1 014 157 147 4 014 138 8 20 4 206 121 2 862 1012A 453 1 057 153 153 1 210 215 205 4 520 239 0 22 4 723 103 3 565 11 12 O CO N N al o 0 620 322 42 214 256 129 1 285 223 213 4 945 381 0 42 5
51. 8 5 24 4 15 9 15 3 9 096 747 974 585 112 50 0 5 13 0 7 6 4 3 SR 2013 12 10 29 18 4 76 4 48 2 90 Nomura PB Nominees TK1 Limited 2 67 2 62 BNP Paribas Securities Services Frankfurt Branch JASDEC German 2 43 Residents AIFM s 2 34 2 17 1 36 SR 2 909 29 189 32 08 e Shar ed esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared esearch r4 SR Research Report 2014 5 13 1942
52. 1 97 1 4 300 1 300 2014 12 2016 12 3 2016 12 500 230 79 ROE12 Ld a gt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved SR Research Report 2014 5 13 14 12 13 12 i 7 499 9 297 9 000 9 500 18 500 15 6 34 3 20 0 2 2 10 1 5 271 6 683 2 229 2 614 9 1 26 1
53. 1 500 1US E 95 73 2 2 2013 12 SR 2013 12 1 2013 4 30 2013 12 1 2013 12 1 34 7 16 2 LCL
54. 14 3 25 2 27 4 SR 2013 12 72 69 27 4 NVOCC Non Vessel Operating Common Carrier 2013 2 2013 6 RH 8
55. 0 3 1 8 LCL 48 9 7 7 FCL 16 5 5 79 67 5 3 29 84 39 83 49 0 9 2012 12 11 09 9 9 2012 12 2 29 1 6 LCL 16 1 6 FCL 6 4 18 9 22 7 7 0 a gt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Rese
56. Shared search SR Research Report 2014 5 13 9384 sr_inquiries Gsharedresearch jp SR Research Report 2014 5 13 Ei ne M 4 4 m TT 4 ls O MH 9 A 9 er
57. 8 9 108 118 128 MBA EDET 2013 14 9 5 496 5 190 Y JKA 90 70 50 2005 2006 2007 2008 2009 2010 2011 2012 2013 Shar ed esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9384 SR Research Report 2014 5 13 0 SR SA 25 n 25 10 SR 2012 0 4 E 5 9 m 10 14 5 m 15 19 20 24 E25 SR Shared search http www sharedresearch jp
58. Copyright C 2013 Shared Research Inc All Rights Reserved SR Research Report 2014 5 13 20 LCL 209 LCL 1 9370 1 9381 146 2012 2 H8
59. Copyright C 2013 Shared Research Inc All Rights Reserved
60. a Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved a i 7 SR Research Report 2014 5 13 79 2015 12 7 0 LOL 7 IT 2013 12 HAM Do a Ld Shared esearch gt http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved rd e a bg Shared esearch i 7 SR Research Report
61. 041 57 129 3 466 12 12 ON N ON 762 421 27 241 268 1 499 228 218 5 260 142 48 5 611 75 3 384 http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved SR Research Report 2014 5 13 1312A 234 5 845 243 60 6 625 509 256 3 497 T E Shared Research http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved SR Research Report 2014 5 13 ERT 2008 2008 12 2009 12 40 2010 12 50 2011 12 2012 12 55 2013 12 32 5 2012 12 1 2 1980 5 1986 12 1991 12 1997 AH 2000 6 2001 4
62. 4 4 803 4 604 51 2 9 000 YoY 16 2 15 1 33 1 3555 3285 20 0 1 014 1 215 1 270 1 344 1 242 YoY 645 11 5 26 2 26 0 22 5 29 3 30 1 28 3 28 0 27 0 837 921 960 961 1 006 YoY 14 2 11 5 17 9 154 20 2 24 1 22 8 21 4 20 0 21 8 176 293 311 361 235 39 3 600 YoY 19 5 11 5 624 1624 334 27 6 5 1 7 3 6 9 7 5 5 1 201 308 330 364 233 38 9 600 YoY 18 7 13 0 66 6 4235 1595 17 6 5 8 7 6 7 3 7 6 15 7 117 191 202 220 125 31 3 400 YoY 20 8 148 86 1 503 3 6 9 29 9 3 4 4 7 4 5 4 6 2 7 SR 2014 12 1 2014 12 1 46 0 32 8 5 19 4 7 12 8 LCL
63. Au iniri cu s LN NC Tm 15 I oo A n 20 BAD SAIR ti cda 22 o Aet 29 A n 30 xa DL MW TT TUE 31 I jg PM PC o O o O ENE ES 31 jr Ni 31 OO 32 titi 33 lir Up AI AA SE RR 34 EC CN AA UI 34 PAER Ta 34 ji E NN RN 36 Y i Shared Research gt http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved rd e 9384 09 12 10 12 11 12 12 12 SR Research Report 2014 5 13 13 12 14 12 8 735 11 444 12 538 13 405 16 797 18 500 26 7 31 0 9 6 6 9 25 3 10 1 3 211 3 710 3 981 4 115 4 843 19 1 15 5 7 3 3 4 17 7 36 8 32 4 31 8 30 7 28 8 636 1 031 1 079 908 1 142 1 300 42 3 62 1 4 7 15 8 25 8 13 8 7 3 9 0 8 6 6 8 6 8 7 0 809 1 036 1 046 975 1 205 1 300 26 3 28 1 1 0 6 8 23 5 7 9 9 3 9 1 8 3 7 3 7 2 7 0 396 652 568 459 730 850 36 5 64 6 12 9 19 2 58 9 16 5 4 5 5 7 4 5 3 4 4 3 4 6
64. Reserved SR Research Report 2014 5 13 1 4 300 1 300 2014 12 2014 4 2014 12 2016 12 3 4 LCL 50
65. arch Inc All Rights Reserved SR Research Report 2014 5 13 98 7 3 6 4 18 4 36 1 5 8 3 3 3 4 ij 2012 12 4 10 12 4 2013 1 3 2012 12 3 2012 12 3 3 98 6 5 39018 6 7 15 5 7 2 5 2 i 4 2 2 1
66. rt 2014 5 13 2013 12 2013 12 168 0 25 3 11 4 25 8 12 0 23 5 7 3 58 9 0 9 LCL 46 3 2 49 4 10 12 10 10 9 11 10 19 12 6 7 4 FCL 10 65 6 11 69 5 12 73 2 17 0 11 49 26 0 11 690 2013 6
Download Pdf Manuals
Related Search