# ANA HOLDINGSINC.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第76期(2025/04/01－2026/03/31) (S100YKL4)
> Page: https://vizora.meequs.com/en/company/ana-holdingsinc
> Retrieved: 2026-09-30T22:28:22.098Z

## Company

ANA, founded in 1952, is a company in Travel Agencies listed on TSE Prime. It has 47,826 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | ANA HOLDINGS INC. |
| Ticker | 9202 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9202.T) |
| Listing | TSE Prime |
| Head office | 東京都港区東新橋一丁目5番2号 |
| Representative (per filing) | 代表取締役社長 芝田 浩二 |
| Founded | Dec 1952 |
| Share capital | ¥467.6B |
| Employees (consolidated) | 47,826 |
| Average salary (parent only) | ¥7.7M |
| Fiscal year end | March |
| Website | www.ana.co.jp (https://www.ana.co.jp/) |
| Corporate number | 6010401050876 |
| EDINET | E04273 |
| Industries (Vizora) | Travel Agencies, Specialty Trading & Wholesale, Airlines |

> Profile source: annual securities report (S100YKL4, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Airlines (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 50 | 3 |
| Profitability | 50 | 3 |
| Cash conversion | 83.3 | 3 |
| Efficiency | 16.7 | 3 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 90% of ANA's sales come from Air Transportation, with Trade and Retail and Airline Related making up much of the rest.
- Out of every ¥100 of sales, about ¥8 is left as operating profit.
- Revenue changed +12.3% from the prior year, operating profit +10.6%.

## Company structure

- Segment revenue mix: Air Transportation 89.7%、Trade and Retail 5.2%、Airline Related 2.4%、Travel Services 2.0%、Other 0.8%
- Revenue → net income: ¥2539233000000 → ¥170983000000
- Net income → operating cash flow: ¥170983000000 → ¥443459000000（difference ¥272476000000）
- Main uses of operating cash flow: CapEx ¥262300000000 / dividends ¥28220000000 / buybacks —
- Change in cash: ¥-127757000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥2.54T |  |
| Operating income | ¥217.4B | Margin 8.6% |
| Net income | ¥169.1B | Margin 6.7% |
| Free cash flow | ¥181.2B |  |
| Largest business | Air Transportation | of segment revenue 89.7% |
| Employees (consolidated) | 47,826 |  |
| EPS | ¥66.92 |  |
| Diluted EPS | ¥59.98 |  |
| Book value per share | ¥2798.21 |  |
| Equity ratio | 37.7% |  |
| Shares outstanding | 484,293,561 |  |
| Treasury shares | 24,333,700 |  |
| Shareholders | 619,947 |  |
| Average salary (parent only) | ¥7.7M | Filing company only |
| Cash ratio | 18.6% | Net cash -¥160.9B · Cash ÷ revenue 29.0% |
| Vs. industry median margin | 0 pp | Airlines |
| ROE | 13.9% | Derived from disclosed figures |
| ROA | 4.5% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.6× net income
- FY2026, revenue is 2.5× its level five years ago
- FY2026, one segment accounts for 95% of positive segment profit

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥728683000000 | ¥2539233000000 | +248.5% |
| Operating income | ¥-464774000000 | ¥217437000000 | — |
| Operating margin | -63.8% | 8.6% | +72.3 pp |
| Employees | 46,580 people | 47,826 people | +2.7% |
| Cash and equivalents | ¥370322000000 | ¥736385000000 | +98.8% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 航空事業 → 航空事業 | 78.5% |
| 航空関連事業 → 航空関連事業 | 2.4% |
| 航空関連事業 → 事業再編・廃止 | 2.6% |
| 旅行事業 → 旅行事業 | 2.0% |
| 旅行事業 → 事業再編・廃止 | 3.4% |
| 商社事業 → 商社事業 | 5.2% |
| 商社事業 → 事業再編・廃止 | 4.2% |
| その他 → その他 | 0.8% |
| その他 → 事業再編・廃止 | 1.0% |
| 新設・再編 → 航空事業 | 11.2% |

Segment revenue source references: 10 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Air Transportation | 5 years | +31.8% | ¥2276718000000 | 9.7% | 2 |
| Trade and Retail | 5 years | +14.1% | ¥132933000000 | 5.7% | 2 |
| Airline Related | 5 years | +10.7% | ¥60219000000 | 2.4% | 2 |
| Travel Services | 5 years | +4.9% | ¥50154000000 | -0.3% | 2 |
| Other | 5 years | +9.0% | ¥19209000000 | 11.8% | 2 |

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,539,233 | 100.0% | S100YKL4 |
| Cost of revenue | 2,074,758 | 81.7% | S100YKL4 |
| Gross profit | 464,475 | 18.3% | S100YKL4 |
| SG&A | 247,038 | 9.7% | S100YKL4 |
| Operating income | 217,437 | 8.6% | S100YKL4 |
| Ordinary income | 219,651 | 8.7% | S100YKL4 |
| Pretax income | 223,501 | 8.8% | S100YKL4 |
| Income tax | 52,518 | 2.1% | S100YKL4 |
| Net income | 170,983 | 6.7% | S100YKL4 |
| Net income attributable to owners | 169,075 | 6.7% | S100YKL4 |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 82 |
| SG&A | 10 |
| Operating income | 8 |
| (Ref.) Net income | 7 |

### Margin funnel

Gross margin 18.3% → Operating margin 8.6% → Net margin 6.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +12.3%; Core profit growth: +10.6%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.86×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 2,261,856 | 2,539,233 | 277,377 | +12.3% |
| Gross profit | 418,314 | 464,475 | 46,161 | +11.0% |
| Operating income | 196,639 | 217,437 | 20,798 | +10.6% |
| Net income attributable to owners | 153,027 | 169,075 | 16,048 | +10.5% |
| Operating cash flow | 373,034 | 443,459 | 70,425 | +18.9% |
| Free cash flow | 117,104 | 181,159 | 64,055 | +54.7% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 1,974,216 | 60,806 | 3.1% | 27,655 | 130,169 | -221,192 | S100LVSH |
| FY ending Mar 2021 | 728,683 | -464,774 | -63.8% | -404,624 | -270,441 | -427,151 | S100OBMW |
| FY ending Mar 2022 | 1,020,324 | -173,127 | -17.0% | -143,628 | -76,413 | -209,777 | S100R7LB |
| FY ending Mar 2023 | 1,707,484 | 120,030 | 7.0% | 89,477 | 449,822 | 332,930 | S100TXYR |
| FY ending Mar 2024 | 2,055,928 | 207,911 | 10.1% | 157,097 | 420,622 | 180,153 | S100W708 |
| FY ending Mar 2025 | 2,261,856 | 196,639 | 8.7% | 153,027 | 373,034 | 117,104 | S100YKL4 |
| FY ending Mar 2026 | 2,539,233 | 217,437 | 8.6% | 169,075 | 443,459 | 181,159 | S100YKL4 |

## People and productivity（FY ending Mar 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥53.1M |
| Operating income per employee (consolidated) | ¥4.5M |
| Net income per employee (consolidated) | ¥3.5M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 42,196 | 40,507 | 41,225 | 44,019 | 47,826 |
| Average salary (parent company) | ¥5M | ¥6.9M | ¥7.1M | ¥7.3M | ¥7.7M |
| Average age (parent company) | 45.0 years | 45.5 years | 45.3 years | 45.5 years | 46.2 years |
| Average tenure (parent company) | 3.1 years | 3.5 years | 2.3 years | 2.8 years | 2.9 years |

Year over year: Employees (consolidated) +8.6% · Revenue (consolidated) +12.3%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Air Transportation | 2,276,718 | 89.7% | 221,920 | 9.7% |
| Airline Related | 60,219 | 2.4% | 1,456 | 2.4% |
| Travel Services | 50,154 | 2.0% | -146 | -0.3% |
| Trade and Retail | 132,933 | 5.2% | 7,557 | 5.7% |
| Other | 19,209 | 0.8% | 2,276 | 11.8% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Air Transportation | 89.7% | 95.2% | 5.5 | 9.7% |
| Airline Related | 2.4% | 0.6% | -1.7 | 2.4% |
| Travel Services | 2.0% | — | — | -0.3% |
| Trade and Retail | 5.2% | 3.2% | -2.0 | 5.7% |
| Other | 0.8% | 1.0% | 0.2 | 11.8% |

Loss-making segment (excluded from profit shares): Travel Services -146 JPY mn

Segment → industry: Travel Services → Travel Agencies / Trade and Retail → Specialty Trading & Wholesale / Airline Related → Airlines / Air Transportation → Airlines

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 443,459 | 17.5% | S100YKL4 |
| Capital expenditure | 262,300 | 10.3% | S100YKL4 |
| Free cash flow | 181,159 | 7.1% | 算出 |
| Investing cash flow | -415,221 | -16.4% | S100YKL4 |
| Financing cash flow | -159,360 | -6.3% | S100YKL4 |
| Dividends paid | 28,220 | 1.1% | S100YKL4 |
| Change in cash | -127,757 | -5.0% | S100YKL4 |
| Cash and equivalents | 736,385 | 29.0% | S100YKL4 |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 882,329 | 1,113,481 | 1,002,512 | 862,718 | 736,385 | S100TXYR, S100W708, S100YKL4 |
| Total assets | 3,218,433 | 3,366,724 | 3,569,530 | 3,620,297 | 3,955,128 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Net assets | 803,415 | 870,391 | 1,052,627 | 1,140,095 | 1,502,633 | S100TXYR, S100W708, S100YKL4 |
| Share capital | 467,601 | 467,601 | 467,601 | 467,601 | 467,601 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Property, plant and equipment | 1,350,337 | 1,271,312 | 1,330,753 | 1,404,955 | 1,526,765 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Intangible assets excluding goodwill | 93,280 | 87,820 | 103,907 | 130,172 | 146,784 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Goodwill | 20,230 | 18,115 | 15,999 | 13,998 | 11,997 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Investment securities | 140,746 | 149,952 | 156,425 | 150,654 | 162,094 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Current assets | 1,293,921 | 1,550,820 | 1,701,190 | 1,693,726 | 1,890,505 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Current liabilities | 687,889 | 883,401 | 1,035,428 | 1,276,542 | 1,231,487 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Short-term borrowings | 100,070 | 92,170 | 84,170 | 76,919 | 68,950 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Long-term borrowings | 1,102,218 | 1,017,585 | 943,808 | 691,910 | 743,336 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Bonds | 185,000 | 155,000 | 155,000 | 125,000 | 85,000 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Interest-bearing debt | 1,387,288 | 1,264,755 | 1,182,978 | 893,829 | 897,286 | 算出 |
| Total liabilities | 2,415,018 | 2,496,333 | 2,516,903 | 2,480,202 | 2,452,495 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Non-controlling interests | 6,166 | 7,972 | 8,119 | 9,778 | 10,634 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Equity attributable to owners of parent | 702,351 | 794,438 | 951,125 | 1,071,328 | 1,358,792 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Retained earnings | -113,228 | -21,126 | 135,971 | 265,477 | 407,584 | S100R7LB, S100TXYR, S100W708, S100YKL4 |
| Treasury stock | -59,350 | -59,365 | -56,512 | -56,550 | -101,564 | S100R7LB, S100TXYR, S100W708, S100YKL4 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 19% | S100YKL4 |
| Property, plant and equipment | 38% | S100YKL4 |
| Intangibles and goodwill | 4% | S100YKL4 |
| Investment securities | 4% | S100YKL4 |
| Other assets | 35% | S100YKL4 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Interest-bearing debt | 23% | 算出 |
| Other liabilities | 39% | S100YKL4 |
| Equity | 38% | S100YKL4 |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 3,218,433 | 3,366,724 | 3,569,530 | 3,620,297 | 3,955,128 |
| Equity | 803,415 | 870,391 | 1,052,627 | 1,140,095 | 1,502,633 |
| Interest-bearing debt | 1,387,288 | 1,264,755 | 1,182,978 | 893,829 | 897,286 |
| Cash | 882,329 | 1,113,481 | 1,002,512 | 862,718 | 736,385 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 60.1% | S100YKL4 |
| Fixed assets ÷ total assets | 38.6% | S100YKL4 |
| Goodwill ÷ parent equity | 0.9% | S100YKL4 |

Goodwill over 4 years: 20,230 → 11,997 JPY; total investing cash flow: -1,006,683 JPY. This does not imply causation.

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 18.6% |
| Cash ÷ revenue | 29.0% |
| Net cash (cash − interest-bearing debt) | -¥160.9B |
| Net debt ÷ operating cash flow | 0.36× |
| Cash conversion (operating CF ÷ operating income) | 203.9% |
| Cash vs. profit gap | 274,384 JPY mn (of net income 162.3%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 16.7% |
| Shareholder payments — dividends / FCF | 15.6% |
| CapEx intensity (capex ÷ revenue) | 10.3% |
| Investing CF relative to operating CF | 93.6% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | — | —× | -4.5% | —× | — | S100R7LB |
| 2023 | 5.2% | 0.52× | 2.7% | 4.40× | 12.0% | S100TXYR |
| 2024 | 7.6% | 0.59× | 4.5% | 3.97× | 18.0% | S100W708 |
| 2025 | 6.8% | 0.63× | 4.3% | 3.56× | 15.1% | S100YKL4 |
| 2026 | 6.7% | 0.67× | 4.5% | 3.12× | 13.9% | S100YKL4 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 13.7% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.9% | 2026-03-31 |
| 名古屋鉄道株式会社 | Major shareholder | 1.5% | 2026-03-31 |
| 全日空社員持株会 | Major shareholder | 1.4% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（従業員持株ESOP信託口・80279口） | Major shareholder | 1.1% | 2026-03-31 |
| 全日空グループ社員持株会 | Major shareholder | 1.0% | 2026-03-31 |
| 野村信託銀行株式会社（投信口） | Major shareholder | 0.8% | 2026-03-31 |
| 日本郵船株式会社 | Major shareholder | 0.8% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 0.6% | 2026-03-31 |
| 東京海上日動火災保険株式会社 | Major shareholder | 0.5% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue for the FY ending Mar 2026 was ¥2.54T, up +12.3% from ¥2.26T.
- Operating income grew +10.6% to ¥217.4B and net income grew +10.5% to ¥169.1B; the company says all of these were record highs.
- Operating cash flow rose +18.9% to ¥443.5B, and free cash flow after capital spending reached ¥181.2B, up +54.7%.

### Drivers

- Strong inbound tourism and leisure travel lifted both international and domestic passenger traffic, and the new European routes did well
- Nippon Cargo Airlines (NCA) became a consolidated subsidiary, adding its revenue
- Fuel and labor costs went up, and ANA-brand international cargo revenue fell as demand for auto parts and e-commerce shipments weakened

### Risks

- Instability such as the Middle East and Ukraine conflicts or US-China tension could cut travel demand and force costly detours
- An accident or other safety failure could keep customers away for a long time
- If sustainable aviation fuel (SAF) stays scarce or expensive, spending on emission credits and other costs could rise

Cited: Annual Securities Report, 76th term (Apr 2025 - Mar 2026) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Annual Securities Report, 76th term (Apr 2025 - Mar 2026) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第76期(2025/04/01－2026/03/31) | S100YKL4 | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YKL4,, |
| 有価証券報告書－第75期(2024/04/01－2025/03/31) | S100W708 | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W708,, |
| 有価証券報告書－第74期(2023/04/01－2024/03/31) | S100TXYR | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TXYR,, |
| 有価証券報告書－第73期(2022/04/01－2023/03/31) | S100R7LB | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R7LB,, |
| 有価証券報告書－第72期(令和3年4月1日－令和4年3月31日) | S100OBMW | 2022-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OBMW,, |
| 有価証券報告書－第71期(令和2年4月1日－令和3年3月31日) | S100LVSH | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LVSH,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| スターアライアンス | Alliance | 全日本空輸がスターアライアンスに加盟 | S100YKL4 |
| ルフトハンザグループ | Alliance | 旅客分野のJoint Venture契約（日本～欧州、共同事業） | S100YKL4 |
| ユナイテッド航空 | Alliance | 旅客分野のJoint Venture契約（アジア～米州、共同事業） | S100YKL4 |
| シンガポール航空 | Alliance | 旅客分野のJoint Venture契約（日本～シンガポール等、共同事業） | S100YKL4 |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).