9632 Subaru Kogyo
- Jul 19, 2025
- 1 min read
Main business is road maintenance, and the company is highly dependent on public works. It also operates restaurants, a marina, and real estate rentals. Subsidiary of 9602 Toho
top of page
bottom of page
.png)
Main business is road maintenance, and the company is highly dependent on public works. It also operates restaurants, a marina, and real estate rentals. Subsidiary of 9602 Toho
"$250m Mkt Cap, $150m EV
Road construct/maintenance at 20% EBIT mgn!
Maintenance is annual contracts
Labour/RMs important
Rental ppty at 7% cap = 11bn/$80m
Also restaurants & marinas
FCF a bit pants
$9602 owns 51%
2.5x EBIT ex-real estate"
https://x.com/Billypasdemates/status/1945447504549458029