Chuo Warehouse Co (TSE:9319) Beneish M-Score: -2.50 (As of Jun. 27, 2026)

What is Chuo Warehouse Co Beneish M-Score?

Chuo Warehouse Co TSE:9319 +3.11% 62 Beneish M-Score is -2.50 as of Jun. 27, 2026. GuruFocus rates TSE:9319 with a GF Score™ of 62/100 and a GF Value™ of 円1,439.47 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 1,020 Business Services companies, Chuo Warehouse Co ranks worse than 54.51% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.5 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Chuo Warehouse Co's Beneish M-Score or its related term are showing as below:

TSE:9319' s Beneish M-Score Range Over the Past 10 Years
Min: -2.77 Med: -2.6 Max: -2.38
Current: -2.5

During the past 13 years, the highest Beneish M-Score of Chuo Warehouse Co was -2.38. The lowest was -2.77. And the median was -2.60.

Chuo Warehouse Co Beneish M-Score Related Terms

Chuo Warehouse Co Beneish M-Score Historical Data

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The historical data trend for Chuo Warehouse Co's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Chuo Warehouse Co Beneish M-Score Chart

Chuo Warehouse Co Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-2.62

-2.74

-2.48

-2.70

-2.50

Chuo Warehouse Co Quarterly Data
	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.70	0.00	0.00	0.00	-2.50

TSE:9319 vs CTAS, CPRT, GPN: Beneish M-Score Comparison

For the Specialty Business Services subindustry, Chuo Warehouse Co's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Chuo Warehouse Co Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Chuo Warehouse Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Chuo Warehouse Co's Beneish M-Score falls into.

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62GF Score

Chuo Warehouse Co Ltd TSE:9319

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Chuo Warehouse Co Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Chuo Warehouse Co for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9431

0.528 * 1.0092

0.404 * 1.1937

0.892 * 1.0068

0.115 * 1.0023

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.014095

0.327 * 0.9853

-2.50

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円4,583 Mil.
Revenue was 円28,029 Mil.
Gross Profit was 円3,313 Mil.
Total Current Assets was 円13,843 Mil.
Total Assets was 円63,663 Mil.
Property, Plant and Equipment(Net PPE) was 円33,124 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,851 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円7,028 Mil.
Long-Term Debt & Capital Lease Obligation was 円3,798 Mil.
Net Income was 円2,068 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円2,966 Mil.

Total Receivables was 円4,827 Mil.
Revenue was 円27,840 Mil.
Gross Profit was 円3,320 Mil.
Total Current Assets was 円13,595 Mil.
Total Assets was 円58,928 Mil.
Property, Plant and Equipment(Net PPE) was 円32,387 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,814 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円7,584 Mil.
Long-Term Debt & Capital Lease Obligation was 円2,585 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(4583.425 / 28029.329)	/	(4827.292 / 27840.047)
	=	0.163522	/	0.173394
	=	0.9431

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(3320.406 / 27840.047)	/	(3312.528 / 28029.329)
	=	0.119267	/	0.118181
	=	1.0092

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (13842.904 + 33124.282) / 63662.718)	/	(1 - (13594.596 + 32387.163) / 58928.392)
	=	0.26225	/	0.219701
	=	1.1937

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	28029.329	/	27840.047
	=	1.0068

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(1813.849 / (1813.849 + 32387.163))	/	(1850.585 / (1850.585 + 33124.282))
	=	0.053035	/	0.052912
	=	1.0023

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(0 / 28029.329)	/	(0 / 27840.047)
	=	0	/	0
	=	1

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((3797.964 + 7027.93) / 63662.718)	/	((2585.487 + 7584.463) / 58928.392)
	=	0.170051	/	0.172581
	=	0.9853

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(2068.26 - 0	-	2965.599)	/	63662.718
	=	-0.014095

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Chuo Warehouse Co has a M-score of -2.50 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -2.50 mean?

Chuo Warehouse Co (TSE:9319) has a Beneish M-Score of -2.50 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Chuo Warehouse Co and its competitors. According to the industry distribution chart, Chuo Warehouse Co ranks #556 out of 1020 companies in the Business Services industry, placing it in the top 54.5%.

Is Chuo Warehouse Co's Beneish M-Score too high?

Chuo Warehouse Co's current Beneish M-Score is -2.50. Based on the distribution chart, Chuo Warehouse Co ranks #556 out of 1020 companies in the Business Services industry, which is below the industry midpoint. Overall, Chuo Warehouse Co has a GF Score™ of 62/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Chuo Warehouse Co's Beneish M-Score compare to CTAS and CPRT?

According to the Business Services industry distribution chart, Chuo Warehouse Co ranks #556 out of 1020 companies for Beneish M-Score. This places Chuo Warehouse Co in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Beneish M-Score for a Business Services company?

A good Beneish M-Score depends on the Business Services industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Beneish M-Score mean?

A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Chuo Warehouse Co and its competitors. Chuo Warehouse Co's current Beneish M-Score is -2.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Chuo Warehouse Co stock overvalued right now?

Based on GuruFocus' analysis, Chuo Warehouse Co (TSE:9319) is currently considered Modestly Overvalued. The stock's GF Value™ is 円1,439.47, compared to a current price of 円1,822.00 — trading 26.6% above its estimated fair value. The current Beneish M-Score is -2.50. Chuo Warehouse Co's overall GF Score™ is 62/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Beneish M-Score calculated?

Beneish M-Score is calculated from a company's financial statements. For Chuo Warehouse Co (TSE:9319), the current Beneish M-Score is -2.50 as of Jun. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Chuo Warehouse Co (TSE:9319) Overvalued in 2026?

Based on GuruFocus' analysis, Chuo Warehouse Co stock appears to be overvalued. The current stock price of 円1,822.00 is trading 26.6% above its estimated GF Value™ of 円1,439.47. GuruFocus considers Chuo Warehouse Co to be Modestly Overvalued.

Key valuation signals for TSE:9319:

Beneish M-Score: -2.50
GF Value™: 円1,439.47 vs. price of 円1,822.00 (26.6% above fair value)
GF Score™: 62/100 with 2 warning signs

No single metric tells the full story. See the TSE:9319 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Chuo Warehouse Co Business Description

Industry Industrials Business Services

Comparable Companies TSE:6072 TSE:296A TSE:6083 TSE:2498 TSE:9368 TSE:7814 TSE:5845 TSE:7893 TSE:4771 TSE:4659 CTAS LSE:REL TSX:TRI CPRT GPN ULS TSX:RBA ASX:BXB XAMS:WKL LSE:RTO

Address 41 Uchihatacho, Suzaku, Shimogyo Ward, Kyoto, JPN, 600-8843

Website http://www.chuosoko.co.jp

Chuo Warehouse Co Ltd provides business services. The company operates in three business segments: Domestic logistics, International Freight, and Real Estate leasing. The Domestic logistics business operates warehousing and transportation businesses. The International Freight business division is engaged in the packing and customs clearance businesses. The Real Estate leasing division is in the rental business of real estate (buildings, land, etc.), other than logistics facilities. The company generates the majority of its revenue from the Domestic logistics business.

62GF Score

Get the complete analysis for TSE:9319

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円1,822.00

Price

円1,439.47

GF Value

View TSE:9319 Analysis

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