# Mazda Motor Corporation: 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160期(2025/04/01－2026/03/31) (S100YDZ1)
> Page: https://vizora.meequs.com/en/company/mazda-motor
> Retrieved: 2026-09-30T19:50:38.155Z

## Company

Mazda, founded in 1920, is a company in Automobiles listed on TSE Prime. It has 47,144 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Mazda Motor Corporation |
| Ticker | 7261 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7261.T) |
| Listing | TSE Prime |
| Head office | 広島県安芸郡府中町新地3番1号 |
| Representative (per filing) | 代表取締役社長 毛籠 勝弘 |
| Founded | Jan 1920 |
| Share capital | ¥284B |
| Employees (consolidated) | 47,144 |
| Average salary (parent only) | ¥7.1M |
| Fiscal year end | March |
| Website | www.mazda.co.jp (https://www.mazda.co.jp/) |
| Corporate number | 3240001036223 |
| EDINET | E02163 |
| Industries (Vizora) | Automobiles |

> Profile source: annual securities report (S100YDZ1, filed 2026-06-23). As of filing

## Five-axis industry profile

Primary industry: Automobiles (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 64.3 | 7 |
| Profitability | 43.8 | 8 |
| Cash conversion | 7.1 | 7 |
| Efficiency | 68.8 | 8 |
| Financial strength | 83.3 | 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 59% of Mazda's sales come from North America, with Japan and Europe making up much of the rest.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed -2.0% from the prior year, operating profit -72.3%.

## Company structure

- Segment revenue mix: North America 59.3%、Japan 20.8%、Europe 19.9%
- Revenue → net income: ¥4918172000000 → ¥35939000000
- Net income → operating cash flow: ¥35939000000 → ¥223000000（difference ¥-35716000000）
- Main uses of operating cash flow: CapEx ¥111086000000 / dividends ¥34680000000 / buybacks —
- Change in cash: ¥187577000000
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 | ¥4.92T |  |
| Operating income | ¥51.6B | Margin 1.0% |
| Net income | ¥35.1B | Margin 0.7% |
| Free cash flow | -¥110.9B |  |
| Largest business | North America | of segment revenue 59.3% |
| Employees (consolidated) | 47,144 |  |
| EPS | ¥-163.97 |  |
| Diluted EPS | ¥55.6 |  |
| Book value per share | ¥1814.27 |  |
| Equity ratio | 42.5% |  |
| Shares outstanding | 631,803,000 |  |
| Treasury shares | 1,060,100 |  |
| Shareholders | 156,461 |  |
| Average salary (parent only) | ¥7.1M | Filing company only |
| Cash ratio | 28.9% | Net cash ¥534.8B · Cash ÷ revenue 26.3% |
| Vs. industry median margin | -0.8 pp | Automobiles |
| ROE | 2.3% | Derived from disclosed figures |
| ROA | 0.8% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 90% of positive segment profit
- FY2026, segment profit share differs by 31 points
- FY2026, cash is 29% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥2882066000000 | ¥4918172000000 | +70.6% |
| Operating income | ¥8820000000 | ¥51579000000 | +484.8% |
| Operating margin | 0.3% | 1.0% | +0.7 pp |
| Employees | 49,786 people | 47,144 people | -5.3% |
| Cash and equivalents | ¥738793000000 | ¥1293162000000 | +75.0% |

### 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 |
| --- | ---: |
| 日本 → 日本 | 20.8% |
| 日本 → 事業再編・廃止 | 15.5% |
| 北米 → 北米 | 43.1% |
| 欧州 → 欧州 | 19.9% |
| 欧州 → 事業再編・廃止 | 0.7% |
| 新設・再編 → 北米 | 16.2% |

Segment revenue source references: 6 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| North America | 5 years | +20.0% | ¥2561746000000 | 6.5% | 2 |
| Japan | 5 years | +0.8% | ¥900173000000 | -18.0% | 2 |
| Europe | 5 years | +11.9% | ¥859557000000 | 2.1% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 4,918,172 | 100.0% | S100YDZ1 |
| Cost of revenue | 4,031,773 | 82.0% | S100YDZ1 |
| Gross profit | 886,399 | 18.0% | S100YDZ1 |
| SG&A | 834,820 | 17.0% | S100YDZ1 |
| Operating income | 51,579 | 1.0% | S100YDZ1 |
| Ordinary income | 131,835 | 2.7% | S100YDZ1 |
| Pretax income | 59,384 | 1.2% | S100YDZ1 |
| Income tax | 23,445 | 0.5% | S100YDZ1 |
| Net income | 35,939 | 0.7% | S100YDZ1 |
| Net income attributable to owners | 35,086 | 0.7% | S100YDZ1 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 82 |
| SG&A | 17 |
| Operating income | 1 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 18.0% → Operating margin 1.0% → Net margin 0.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -2.0%; Core profit growth: -72.3%
Operating leverage (core profit growth ÷ revenue growth): 36.02×
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 | 5,018,893 | 4,918,172 | -100,721 | -2.0% |
| Gross profit | 1,078,193 | 886,399 | -191,794 | -17.8% |
| Operating income | 186,125 | 51,579 | -134,546 | -72.3% |
| Net income attributable to owners | 114,079 | 35,086 | -78,993 | -69.2% |
| Operating cash flow | 305,626 | 223 | -305,403 | -99.9% |
| Free cash flow | 177,363 | -110,863 | -288,226 | -162.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 3,214,363 | 125,687 | 3.9% | 93,780 | 161,097 | 71,390 | S100DCGT |
| FY ending Mar 2018 | 3,474,024 | 146,421 | 4.2% | 112,057 | 207,795 | 108,612 | S100G2HN |
| FY ending Mar 2019 | 3,564,172 | 82,307 | 2.3% | 63,155 | 146,690 | 26,037 | S100IS9D |
| FY ending Mar 2020 | 3,430,285 | 43,603 | 1.3% | 12,131 | 34,834 | -87,524 | S100LM10 |
| FY ending Mar 2021 | 2,882,066 | 8,820 | 0.3% | -31,651 | 120,058 | 34,019 | S100OA73 |
| FY ending Mar 2022 | 3,120,349 | 104,227 | 3.3% | 81,557 | 189,155 | 49,804 | S100R5G1 |
| FY ending Mar 2023 | 3,826,752 | 141,969 | 3.7% | 142,814 | 137,424 | 38,296 | S100TN27 |
| FY ending Mar 2024 | 4,827,662 | 250,503 | 5.2% | 207,696 | 418,895 | 303,652 | S100VZ6C |
| FY ending Mar 2025 | 5,018,893 | 186,125 | 3.7% | 114,079 | 305,626 | 177,363 | S100YDZ1 |
| FY ending Mar 2026 | 4,918,172 | 51,579 | 1.0% | 35,086 | 223 | -110,863 | S100YDZ1 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥104.3M |
| Operating income per employee (consolidated) | ¥1.1M |
| Net income per employee (consolidated) | ¥744.2K |

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) | 48,750 | 48,481 | 48,685 | 48,783 | 47,144 |
| Average salary (parent company) | ¥6.4M | ¥6.6M | ¥6.9M | ¥7.1M | ¥7.1M |
| Average age (parent company) | 41.8 years | 42.2 years | 42.4 years | 42.5 years | 42.5 years |
| Average tenure (parent company) | 16.6 years | 17.2 years | 17.6 years | 17.4 years | 17.7 years |

Year over year: Employees (consolidated) -3.4% · Revenue (consolidated) -2.0%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Japan | 900,173 | 20.8% | -161,820 | -18.0% |
| North America | 2,561,746 | 59.3% | 167,536 | 6.5% |
| Europe | 859,557 | 19.9% | 18,026 | 2.1% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Japan | 20.8% | — | — | -18.0% |
| North America | 59.3% | 90.3% | 31.0 | 6.5% |
| Europe | 19.9% | 9.7% | -10.2 | 2.1% |

Loss-making segment (excluded from profit shares): Japan -161,820 JPY mn

Segment → industry: Europe → Automobiles / North America → Automobiles / Japan → Automobiles

## 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 | 223 | 0.0% | S100YDZ1 |
| Capital expenditure | 111,086 | 2.3% | S100YDZ1 |
| Free cash flow | -110,863 | -2.3% | 算出 |
| Investing cash flow | -868 | -0.0% | S100YDZ1 |
| Financing cash flow | 104,969 | 2.1% | S100YDZ1 |
| Dividends paid | 34,680 | 0.7% | S100YDZ1 |
| Change in cash | 187,577 | 3.8% | S100YDZ1 |
| Cash and equivalents | 1,293,162 | 26.3% | S100YDZ1 |

## 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 | 740,385 | 717,093 | 919,265 | 1,105,585 | 1,293,162 | S100TN27, S100VZ6C, S100YDZ1 |
| Total assets | 2,968,148 | 3,259,251 | 3,791,768 | 4,090,081 | 4,479,493 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Net assets | 1,316,697 | 1,456,801 | 1,757,378 | 1,810,029 | 1,924,950 | S100TN27, S100VZ6C, S100YDZ1 |
| Share capital | 283,957 | 283,957 | 283,957 | 283,957 | 283,957 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Trade receivables | 146,136 | 166,921 | 163,426 | 148,839 | 183,829 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Inventories | 399,923 | 670,904 | 680,452 | 659,157 | 696,071 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Property, plant and equipment | 1,146,716 | 1,164,606 | 1,192,875 | 1,222,770 | 1,234,119 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Intangible assets excluding goodwill | 48,358 | 54,614 | 62,727 | 70,079 | 74,070 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Investment securities | 222,192 | 214,895 | 304,378 | 271,063 | 316,060 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Current assets | 1,457,813 | 1,724,164 | 1,998,924 | 2,227,652 | 2,449,350 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Current liabilities | 898,933 | 1,261,220 | 1,410,437 | 1,501,393 | 1,613,616 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Trade payables | 345,443 | 480,975 | 435,290 | 473,851 | 528,679 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Short-term borrowings | 1,526 | 1,460 | 30,304 | 32,300 | 31,059 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Long-term borrowings | 540,083 | 345,340 | 359,122 | 417,720 | 622,300 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Bonds | 50,000 | 50,000 | 45,000 | 125,000 | 105,000 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Interest-bearing debt | 591,609 | 396,800 | 434,426 | 575,020 | 758,359 | 算出 |
| Total liabilities | 1,651,451 | 1,802,450 | 2,034,390 | 2,280,052 | 2,554,543 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Non-controlling interests | 15,117 | 16,728 | 19,322 | 17,349 | 19,051 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Equity attributable to owners of parent | 1,126,318 | 1,244,228 | 1,420,720 | 1,497,074 | 1,497,884 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Retained earnings | 581,458 | 699,231 | 875,629 | 951,634 | 952,082 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |
| Treasury stock | -2,100 | -1,995 | -1,873 | -1,576 | -1,109 | S100R5G1, S100TN27, S100VZ6C, S100YDZ1 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 29% | S100YDZ1 |
| Receivables | 4% | S100YDZ1 |
| Inventories | 15% | S100YDZ1 |
| Property, plant and equipment | 28% | S100YDZ1 |
| Intangibles and goodwill | 2% | S100YDZ1 |
| Investment securities | 7% | S100YDZ1 |
| Other assets | 15% | S100YDZ1 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 12% | S100YDZ1 |
| Interest-bearing debt | 17% | 算出 |
| Other liabilities | 28% | S100YDZ1 |
| Equity | 43% | S100YDZ1 |

### 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 | 2,968,148 | 3,259,251 | 3,791,768 | 4,090,081 | 4,479,493 |
| Equity | 1,316,697 | 1,456,801 | 1,757,378 | 1,810,029 | 1,924,950 |
| Interest-bearing debt | 591,609 | 396,800 | 434,426 | 575,020 | 758,359 |
| Cash | 740,385 | 717,093 | 919,265 | 1,105,585 | 1,293,162 |

## 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) | 25.1% | S100YDZ1 |
| Fixed assets ÷ total assets | 27.6% | S100YDZ1 |
| Goodwill ÷ parent equity | — | —, S100YDZ1 |

### 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) | 28.9% |
| Cash ÷ revenue | 26.3% |
| Net cash (cash − interest-bearing debt) | ¥534.8B |
| Net debt ÷ operating cash flow | -2398.22× |
| Cash conversion (operating CF ÷ operating income) | 0.4% |
| Cash vs. profit gap | -34,863 JPY mn (of net income -99.4%) |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 98.8% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 2.3% |
| Investing CF relative to operating CF | 389.2% |

## 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 | 2.6% | 1.05× | 2.7% | 2.64× | 7.2% | S100R5G1 |
| 2023 | 3.7% | 1.23× | 4.6% | 2.63× | 12.0% | S100TN27 |
| 2024 | 4.3% | 1.37× | 5.9% | 2.65× | 15.6% | S100VZ6C |
| 2025 | 2.3% | 1.27× | 2.9% | 2.70× | 7.8% | S100YDZ1 |
| 2026 | 0.7% | 1.15× | 0.8% | 2.86× | 2.3% | S100YDZ1 |

## 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 | 17.7% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.7% | 2026-03-31 |
| トヨタ自動車株式会社 | Major shareholder | 5.1% | 2026-03-31 |
| 野村信託銀行株式会社（投信口） | Major shareholder | 3.3% | 2026-03-31 |
| THE BANK OF NEW YORK, TREATYJASDEC ACCOUNT(常任代理人 株式会社三菱UFJ銀行） | Major shareholder | 2.1% | 2026-03-31 |
| STATE STREET BANK AND TRUSTCOMPANY 505325(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.7% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.4% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.3% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505103 (常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.2% | 2026-03-31 |
| MAN INTERNATIONAL ICVC - MAN JAPAN COREALPHA FUND(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.2% | 2026-03-31 |

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

- Revenue for FY ending Mar 2026 slipped 2.0% to ¥4.92T, from ¥5.02T a year earlier.
- Profits fell much harder: operating income went from ¥186.1B to ¥51.6B (-72.3%), and net income from ¥114.1B to ¥35.1B (-69.2%).
- The Japan segment posted an operating loss of ¥161.8B, while North America earned ¥167.5B and kept the group in the black.
- Operating cash flow shrank to ¥223M, and free cash flow was -¥110.9B.

### Drivers

- Higher US tariffs were the biggest drag on operating income.
- Mazda cut US sales of its Mexico-built compact SUV, which carried a heavy tariff, so shipments fell.
- Rising raw material costs also hurt, while cost cuts and leaner fixed costs offset part of the decline.
- In North America, a push on larger SUVs and revised pricing lifted operating income from the year before.

### Risks

- Changes to tariffs and other trade rules can swing profits for a business that exports heavily.
- Mazda may not be able to pass rising material, logistics and energy costs on to buyers.
- Currency moves affect both earnings and shareholders' equity.

Cited: Annual Securities Report (160th term) (Management's analysis of financial position, results and cash flows); Annual Securities Report (160th term) (Business risks)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第160期(2025/04/01－2026/03/31) | S100YDZ1 | 2026-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YDZ1,, |
| 有価証券報告書－第159期(2024/04/01－2025/03/31) | S100VZ6C | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZ6C,, |
| 有価証券報告書－第158期(2023/04/01－2024/03/31) | S100TN27 | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TN27,, |
| 有価証券報告書－第157期(2022/04/01－2023/03/31) | S100R5G1 | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R5G1,, |
| 有価証券報告書－第156期(令和3年4月1日－令和4年3月31日) | S100OA73 | 2022-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OA73,, |
| 有価証券報告書－第155期(令和2年4月1日－令和3年3月31日) | S100LM10 | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LM10,, |
| 有価証券報告書－第154期(平成31年4月1日－令和2年3月31日) | S100IS9D | 2020-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100IS9D,, |
| 有価証券報告書－第153期(平成30年4月1日－平成31年3月31日) | S100G2HN | 2019-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100G2HN,, |
| 有価証券報告書－第152期(平成29年4月1日－平成30年3月31日) | S100DCGT | 2018-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100DCGT,, |
| 有価証券報告書－第151期(2016/04/01－2017/03/31) | S100AI2C | 2017-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100AI2C,, |

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

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| トヨタ | Capital alliance | 業務資本提携 | S100YDZ1 |
| トヨタ | Joint venture | 米国における乗用車共同生産の合弁 | S100YDZ1 |

## 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).