6086 Shin Maint Holdings
- Japan Guru
- Jun 15, 2025
- 1 min read
Updated: Jul 19, 2025
Shin Maint specializez in store maintenance. Diversifying into drug stores, nursing care, etc. with a focus on the food and beverage industry. Covering partner companies nationwide
"This is a great biz indeed, and happy someone wrote it up! you’ll be surprised how fragmented the maintenance market is, and how few there are with scale. To be honest i don’t think Shin Maint is expensive at all, given the runway and lack of serious competitors."
https://x.com/InvestInJapan/status/1978064220274262452
Two subtack pieces on this:
https://iggyoninvesting.substack.com/p/shin-maint-japans-hidden-marketplace
https://simplerinvestor.substack.com/p/6086-shin-maint-holdings-maintenance
"great business. Essentially all recurring revenue"
https://x.com/RocksOver/status/1945396898778767638
"Subcontractor of maintenance services primarily to Japanese chain restaurants. EPS growing at 23% cagr since 2018. ROIC of 38%. Good capital allocation with steady dividend hikes and share buybacks since 2022."
https://x.com/RocksOver/status/1928297799960887555
at share price of 892, mkt cap of 19.3 bil yen vs net cash 2.5 bil
15.1x per / 4.75x pbr / 2.02% div