# MIRAIT ONE 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16期(2025/04/01－2026/03/31) (S100YG40)
> Page: https://vizora.meequs.com/en/company/mirait-one
> Retrieved: 2026-09-30T20:25:17.761Z

## Company

Mirait ONE, founded in 2010, is a company in Plant Engineering & Building Services listed on TSE Prime. It has 17,709 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | MIRAIT ONE Corporation |
| Ticker | 1417 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/1417.T) |
| Listing | TSE Prime |
| Head office | 東京都港区虎ノ門二丁目2番3号 |
| Representative (per filing) | 代表取締役社長 菅原 英宗 |
| Founded | Oct 2010 |
| Share capital | ¥7B |
| Employees (consolidated) | 17,709 |
| Average salary (parent only) | ¥7.7M |
| Fiscal year end | March |
| Website | www.mirait-one.com (https://www.mirait-one.com/) |
| Corporate number | 6010601040090 |
| EDINET | E24558 |
| Industries (Vizora) | Plant Engineering & Building Services, General Contractors, IT Services & System Integration, Disaster Prevention & Infrastructure Maintenance |

> Profile source: annual securities report (S100YG40, filed 2026-06-22). As of filing

## Five-axis industry profile

Primary industry: Plant Engineering & Building Services (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 43.8 | 72 |
| Profitability | 19.1 | 76 |
| Cash conversion | 45.3 | 74 |
| Efficiency | 59.9 | 76 |
| Financial strength | 38.9 | 9 |

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 51% of Mirait ONE's sales come from MIRAIT ONE, with Seibu Construction and Kokusai Kogyo Co., Ltd. making up much of the rest.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed +4.1% from the prior year, operating profit +22.4%.

## Company structure

- Segment revenue mix: MIRAIT ONE 50.6%、Seibu Construction 9.7%、Kokusai Kogyo Co., Ltd. 8.2%、Lantrovision 7.4%、TTK 7.4%
- Revenue → net income: ¥602377000000 → ¥24029000000
- Net income → operating cash flow: ¥24029000000 → ¥24081000000（difference ¥52000000）
- Main uses of operating cash flow: CapEx ¥11062000000 / dividends ¥7178000000 / buybacks ¥3002000000
- Change in cash: ¥5734000000
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 | ¥602.4B |  |
| Operating income | ¥34.3B | Margin 5.7% |
| Net income | ¥23.3B | Margin 3.9% |
| Free cash flow | ¥13B |  |
| Largest business | MIRAIT ONE | of segment revenue 50.6% |
| Employees (consolidated) | 17,709 |  |
| EPS | ¥139.27 |  |
| Book value per share | ¥1920.78 |  |
| Equity ratio | 48.7% |  |
| Shares outstanding | 91,325,329 |  |
| Treasury shares | 2,215,800 |  |
| Shareholders | 33,192 |  |
| Average salary (parent only) | ¥7.7M | Filing company only |
| Cash ratio | 10.0% | Net cash -¥62.5B · Cash ÷ revenue 9.5% |
| Vs. industry median margin | -3.4 pp | Plant Engineering & Building Services |
| ROE | 9.2% | Derived from disclosed figures |
| ROA | 4.2% | Derived from disclosed figures |

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥463744000000 | ¥602377000000 | +29.9% |
| Operating income | ¥30129000000 | ¥34267000000 | +13.7% |
| Operating margin | 6.5% | 5.7% | -0.8 pp |
| Employees | 12,882 people | 17,709 people | +37.5% |
| Cash and equivalents | ¥42851000000 | ¥57084000000 | +33.2% |

### 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 |
| --- | ---: |
| ミライト → 事業再編・廃止 | 48.4% |
| ラントロビジョン → ラントロビジョン | 3.3% |
| ミライト・テクノロジーズ → 事業再編・廃止 | 24.0% |
| TTK → TTK | 7.4% |
| TTK → 事業再編・廃止 | 0.7% |
| ソルコム → ソルコム | 6.2% |
| ソルコム → 事業再編・廃止 | 2.7% |
| 四国通建 → 四国通建 | 6.3% |
| 四国通建 → 事業再編・廃止 | 1.1% |
| その他 → 事業再編・廃止 | 0.0% |
| 新設・再編 → ミライト・ワン | 50.6% |
| 新設・再編 → ラントロビジョン | 4.1% |
| 新設・再編 → 西武建設 | 9.7% |
| 新設・再編 → ミライト・ワン・システムズ | 4.4% |
| 新設・再編 → 国際航業 | 8.2% |

Segment revenue source references: 15 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| MIRAIT ONE | 4 years | -1.6% | ¥304819000000 | 6.0% | 2 |
| Seibu Construction | 3 years | +4.4% | ¥58148000000 | 2.7% | 2 |
| Kokusai Kogyo Co., Ltd. | 2 years | +95.1% | ¥49616000000 | 3.7% | 2 |
| Lantrovision | 5 years | +24.0% | ¥44317000000 | 6.1% | 2 |
| TTK | 5 years | +3.5% | ¥44291000000 | 7.6% | 2 |
| Shikokutsuken | 5 years | +2.0% | ¥37765000000 | 10.7% | 2 |
| SOLCOM | 5 years | -2.1% | ¥37128000000 | 3.8% | 2 |
| MIRAIT ONE SYSTEMS | 4 years | +6.5% | ¥26290000000 | 7.7% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 602,377 | 100.0% | S100YG40 |
| Cost of revenue | 509,369 | 84.6% | S100YG40 |
| Gross profit | 93,008 | 15.4% | S100YG40 |
| SG&A | 58,740 | 9.8% | S100YG40 |
| Operating income | 34,267 | 5.7% | S100YG40 |
| Ordinary income | 36,517 | 6.1% | S100YG40 |
| Pretax income | 36,702 | 6.1% | S100YG40 |
| Income tax | 12,672 | 2.1% | S100YG40 |
| Net income | 24,029 | 4.0% | S100YG40 |
| Net income attributable to owners | 23,282 | 3.9% | S100YG40 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 84 |
| SG&A | 10 |
| Operating income | 6 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 15.4% → Operating margin 5.7% → Net margin 3.9%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +4.1%; Core profit growth: +22.4%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 5.46×
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 | 578,599 | 602,377 | 23,778 | +4.1% |
| Gross profit | 84,851 | 93,008 | 8,157 | +9.6% |
| Operating income | 27,985 | 34,267 | 6,282 | +22.4% |
| Net income attributable to owners | 17,179 | 23,282 | 6,103 | +35.5% |
| Operating cash flow | 18,049 | 24,081 | 6,032 | +33.4% |
| Free cash flow | 10,285 | 13,019 | 2,734 | +26.6% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 441,166 | 21,993 | 5.0% | 15,220 | 7,936 | -2,470 | S100LQ88 |
| FY ending Mar 2021 | 463,744 | 30,129 | 6.5% | 24,205 | 41,602 | 32,685 | S100O90S |
| FY ending Mar 2022 | 470,385 | 32,804 | 7.0% | 25,163 | 12,972 | 2,034 | S100R79T |
| FY ending Mar 2023 | 483,987 | 21,803 | 4.5% | 14,781 | 5,315 | -2,521 | S100TTGY |
| FY ending Mar 2024 | 518,384 | 17,830 | 3.4% | 12,535 | 33,625 | 25,132 | S100VZQA |
| FY ending Mar 2025 | 578,599 | 27,985 | 4.8% | 17,179 | 18,049 | 10,285 | S100YG40 |
| FY ending Mar 2026 | 602,377 | 34,267 | 5.7% | 23,282 | 24,081 | 13,019 | S100YG40 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥34M |
| Operating income per employee (consolidated) | ¥1.9M |
| Net income per employee (consolidated) | ¥1.3M |

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) | 14,006 | 14,350 | 16,985 | 17,115 | 17,709 |
| Average salary (parent company) | ¥7.1M | ¥7M | ¥7M | ¥7.3M | ¥7.7M |
| Average age (parent company) | 42.7 years | 43.5 years | 43.8 years | 44.2 years | 44.9 years |
| Average tenure (parent company) | 16.6 years | 16.4 years | 16.8 years | 16.7 years | 17.8 years |

Year over year: Employees (consolidated) +3.5% · Revenue (consolidated) +4.1%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| MIRAIT ONE | 304,819 | 50.6% | 18,140 | 6.0% |
| Lantrovision | 44,317 | 7.4% | 2,697 | 6.1% |
| TTK | 44,291 | 7.4% | 3,362 | 7.6% |
| SOLCOM | 37,128 | 6.2% | 1,426 | 3.8% |
| Shikokutsuken | 37,765 | 6.3% | 4,033 | 10.7% |
| Seibu Construction | 58,148 | 9.7% | 1,554 | 2.7% |
| MIRAIT ONE SYSTEMS | 26,290 | 4.4% | 2,022 | 7.7% |
| Kokusai Kogyo Co., Ltd. | 49,616 | 8.2% | 1,844 | 3.7% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| MIRAIT ONE | 50.6% | 51.7% | 1.1 | 6.0% |
| Lantrovision | 7.4% | 7.7% | 0.3 | 6.1% |
| TTK | 7.4% | 9.6% | 2.2 | 7.6% |
| SOLCOM | 6.2% | 4.1% | -2.1 | 3.8% |
| Shikokutsuken | 6.3% | 11.5% | 5.2 | 10.7% |
| Seibu Construction | 9.7% | 4.4% | -5.2 | 2.7% |
| MIRAIT ONE SYSTEMS | 4.4% | 5.8% | 1.4 | 7.7% |
| Kokusai Kogyo Co., Ltd. | 8.2% | 5.3% | -3.0 | 3.7% |

Segment → industry: MIRAIT ONE → Plant Engineering & Building Services / Lantrovision → Plant Engineering & Building Services / TTK → Plant Engineering & Building Services / SOLCOM → Plant Engineering & Building Services / Shikokutsuken → Plant Engineering & Building Services / Seibu Construction → General Contractors / MIRAIT ONE SYSTEMS → IT Services & System Integration / Kokusai Kogyo Co., Ltd. → Disaster Prevention & Infrastructure Maintenance

## 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 | 24,081 | 4.0% | S100YG40 |
| Capital expenditure | 11,062 | 1.8% | S100YG40 |
| Free cash flow | 13,019 | 2.2% | 算出 |
| Investing cash flow | -11,202 | -1.9% | S100YG40 |
| Financing cash flow | -6,731 | -1.1% | S100YG40 |
| Dividends paid | 7,178 | 1.2% | S100YG40 |
| Share buyback | 3,002 | 0.5% | S100YG40 |
| Change in cash | 5,734 | 1.0% | S100YG40 |
| Cash and equivalents | 57,084 | 9.5% | S100YG40 |

## 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 | 48,901 | 30,399 | 48,017 | 51,350 | 57,084 | S100TTGY, S100VZQA, S100YG40 |
| Total assets | 435,785 | 436,752 | 519,960 | 537,739 | 573,393 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Net assets | 249,237 | 254,305 | 260,088 | 269,877 | 288,447 | S100TTGY, S100VZQA, S100YG40 |
| Share capital | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Property, plant and equipment | 91,552 | 93,470 | 100,110 | 101,109 | 104,381 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Intangible assets excluding goodwill | 36,912 | 38,723 | 75,666 | 76,582 | 74,266 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Goodwill | 20,576 | 20,687 | 38,570 | 37,585 | 35,932 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Investment securities | 16,224 | 17,833 | 19,454 | 19,397 | 25,459 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Current assets | 276,135 | 272,506 | 304,651 | 321,194 | 347,074 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Current liabilities | 158,683 | 125,066 | 192,672 | 160,983 | 176,276 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Short-term borrowings | 50,107 | 21,505 | 75,148 | 42,596 | 49,519 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Long-term borrowings | 35 | 30,011 | 31,003 | 40,495 | 40,057 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Bonds | — | — | — | 30,000 | 30,000 | S100YG40 |
| Interest-bearing debt | — | — | — | 113,091 | 119,576 | 算出 |
| Total liabilities | 186,548 | 182,446 | 259,872 | 267,862 | 284,946 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Non-controlling interests | 7,116 | 7,487 | 8,109 | 8,375 | 9,007 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Equity attributable to owners of parent | 236,623 | 239,993 | 239,832 | 245,748 | 259,003 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Retained earnings | 175,815 | 184,041 | 190,849 | 201,526 | 217,634 | S100R79T, S100TTGY, S100VZQA, S100YG40 |
| Treasury stock | -15,844 | -12,329 | -3,793 | -2,934 | -5,790 | S100R79T, S100TTGY, S100VZQA, S100YG40 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 10% | S100YG40 |
| Property, plant and equipment | 18% | S100YG40 |
| Intangibles and goodwill | 19% | S100YG40 |
| Investment securities | 5% | S100YG40 |
| Other assets | 48% | S100YG40 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Interest-bearing debt | 21% | 算出 |
| Other liabilities | 29% | S100YG40 |
| Equity | 50% | S100YG40 |

### 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 | 435,785 | 436,752 | 519,960 | 537,739 | 573,393 |
| Equity | 249,237 | 254,305 | 260,088 | 269,877 | 288,447 |
| Interest-bearing debt | — | — | — | 113,091 | 119,576 |
| Cash | 48,901 | 30,399 | 48,017 | 51,350 | 57,084 |

## 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) | 17.3% | S100YG40 |
| Fixed assets ÷ total assets | 18.2% | S100YG40 |
| Goodwill ÷ parent equity | 13.9% | S100YG40 |

Goodwill over 4 years: 20,576 → 35,932 JPY; total investing cash flow: -134,635 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) | 10.0% |
| Cash ÷ revenue | 9.5% |
| Net cash (cash − interest-bearing debt) | -¥62.5B |
| Net debt ÷ operating cash flow | 2.60× |
| Cash conversion (operating CF ÷ operating income) | 70.3% |
| Cash vs. profit gap | 799 JPY mn (of net income 3.4%) |
| Shareholder returns / net income | 43.7% |
| Shareholder returns / FCF | 78.2% |
| Shareholder payments — dividends / net income | 30.8% |
| Shareholder payments — dividends / FCF | 55.1% |
| CapEx intensity (capex ÷ revenue) | 1.8% |
| Investing CF relative to operating CF | 46.5% |

## 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 | 5.3% | 1.08× | 5.8% | 1.84× | 10.6% | S100R79T |
| 2023 | 3.1% | 1.11× | 3.4% | 1.83× | 6.2% | S100TTGY |
| 2024 | 2.4% | 1.08× | 2.6% | 1.99× | 5.2% | S100VZQA |
| 2025 | 3.0% | 1.09× | 3.2% | 2.18× | 7.1% | S100YG40 |
| 2026 | 3.9% | 1.08× | 4.2% | 2.20× | 9.2% | S100YG40 |

## 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 | 14.0% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 6.4% | 2026-03-31 |
| 住友電気工業株式会社 | Major shareholder | 4.1% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001（常任代理人 株式会社みずほ銀行） | Major shareholder | 2.7% | 2026-03-31 |
| ミライト・ワン従業員持株会 | Major shareholder | 2.5% | 2026-03-31 |
| 住友電設株式会社 | Major shareholder | 2.2% | 2026-03-31 |
| GOVERNMENT OF NORWAY （常任代理人 シティバンク） | Major shareholder | 1.7% | 2026-03-31 |
| 株式会社みずほ銀行（常任代理人 株式会社日本カストディ銀行） | Major shareholder | 1.5% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781 （常任代理人 株式会社みずほ銀行） | Major shareholder | 1.3% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505223 （常任代理人 株式会社みずほ銀行） | Major shareholder | 1.3% | 2026-03-31 |

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

- Revenue for FY ending Mar 2026 grew +4.1% to ¥602.4B, a modest gain.
- Profit grew much faster: operating income reached ¥34.3B (+22.4%) and net income attributable to owners reached ¥23.3B (+35.5%).
- Operating cash flow also improved to ¥24.1B (+33.4%), and free cash flow came to ¥13B.

### Drivers

- Steady NTT access and mobile construction work, along with leaner operations inside the group
- Lantrovision captured data center demand across Asia and grew sharply
- Shikokutsuken expanded its ICT solutions business on NEXT GIGA school projects

### Risks

- Much of revenue comes from telecom carriers, so their capital spending plans directly affect results
- Material shortages or price rises could delay projects or raise construction costs
- Moves into new business areas could bring unexpected large losses

Cited: Annual Securities Report (FY ending 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 (FY ending Mar 2026) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第16期(2025/04/01－2026/03/31) | S100YG40 | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YG40,, |
| 有価証券報告書－第15期(2024/04/01－2025/03/31) | S100VZQA | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZQA,, |
| 有価証券報告書－第14期(2023/04/01－2024/03/31) | S100TTGY | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TTGY,, |
| 有価証券報告書－第13期(2022/04/01－2023/03/31) | S100R79T | 2023-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R79T,, |
| 有価証券報告書－第12期(令和3年4月1日－令和4年3月31日) | S100O90S | 2022-06-15 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O90S,, |
| 有価証券報告書－第11期(令和2年4月1日－令和3年3月31日) | S100LQ88 | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQ88,, |

## 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).