# MITSUBISHI MATERIALS 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101期(2025/04/01－2026/03/31) (S100YFRY)
> Page: https://vizora.meequs.com/en/company/mitsubishi-materials
> Retrieved: 2026-09-30T18:26:54.153Z

## Company

Mitsubishi Materials, founded in 1893, is a company in Machine Tools listed on TSE Prime. It has 17,591 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | MITSUBISHI MATERIALS CORPORATION |
| Ticker | 5711 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5711.T) |
| Listing | TSE Prime |
| Head office | 東京都千代田区丸の内三丁目2番3号 |
| Representative (per filing) | 執行役社長 田中 徹也 |
| Founded | Dec 1893 |
| Share capital | ¥119.5B |
| Employees (consolidated) | 17,591 |
| Average salary (parent only) | ¥7.3M |
| Fiscal year end | March |
| Website | www.mmc.co.jp (https://www.mmc.co.jp/) |
| Corporate number | 6010001023786 |
| EDINET | E00021 |
| Industries (Vizora) | Machine Tools, Non-ferrous Metals & Wires, Electric Power & Gas, Electronic Components, Waste Management & Recycling |

> Profile source: annual securities report (S100YFRY, filed 2026-06-22). As of filing

## Five-axis industry profile

Primary industry: Waste Management & Recycling (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 18.8 | 24 |
| Profitability | 26 | 25 |
| Cash conversion | 22 | 25 |
| Efficiency | 30 | 25 |
| Financial strength | 50 | 11 |

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 Mitsubishi Materials's sales come from Metals, with Advanced products and Metal working solutions making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed -6.0% from the prior year, operating profit +63.0%.

## Company structure

- Segment revenue mix: Metals 50.9%、Advanced products 30.8%、Metal working solutions 12.5%、Other 5.5%、Renewable Energy 0.3%
- Revenue → net income: ¥1844053000000 → ¥47013000000
- Net income → operating cash flow: ¥47013000000 → ¥39674000000（difference ¥-7339000000）
- Main uses of operating cash flow: CapEx ¥51645000000 / dividends ¥13084000000 / buybacks ¥22000000
- Change in cash: ¥33255000000
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 | ¥1.84T |  |
| Operating income | ¥60.5B | Margin 3.3% |
| Net income | ¥40.6B | Margin 2.2% |
| Free cash flow | -¥12B |  |
| Largest business | Metals | of segment revenue 50.9% |
| Employees (consolidated) | 17,591 |  |
| EPS | ¥171.8 |  |
| Book value per share | ¥2900.53 |  |
| Equity ratio | 24.5% |  |
| Shares outstanding | 131,489,535 |  |
| Treasury shares | 653,700 |  |
| Shareholders | 97,158 |  |
| Average salary (parent only) | ¥7.3M | Filing company only |
| Cash ratio | 4.1% | Net cash -¥430.3B · Cash ÷ revenue 6.6% |
| Vs. industry median margin | -2.3 pp | Non-ferrous Metals & Wires |
| ROE | 6.9% | Derived from disclosed figures |
| ROA | 1.5% | Derived from disclosed figures |

## Notable figures

- FY2026, employees -5% while operating income rose 63%
- FY2026, cash is 4% of total assets

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1485121000000 | ¥1844053000000 | +24.2% |
| Operating income | ¥26567000000 | ¥60502000000 | +127.7% |
| Operating margin | 1.8% | 3.3% | +1.5 pp |
| Employees | 27,162 people | 17,591 people | -35.2% |
| Cash and equivalents | ¥147533000000 | ¥121749000000 | -17.5% |

### 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 |
| --- | ---: |
| 金属事業 → 金属事業 | 38.4% |
| 高機能製品 → 高機能製品 | 23.2% |
| 加工事業 → 加工事業 | 7.5% |
| セメント事業 → 事業再編・廃止 | 14.4% |
| 環境・エネルギー事業 → 事業再編・廃止 | 1.7% |
| その他 → その他 | 5.5% |
| その他 → 事業再編・廃止 | 9.3% |
| 新設・再編 → 金属事業 | 12.5% |
| 新設・再編 → 高機能製品 | 7.6% |
| 新設・再編 → 加工事業 | 5.0% |
| 新設・再編 → 再生可能エネルギー事業 | 0.3% |

Segment revenue source references: 11 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Metals | 5 years | +10.5% | ¥937814000000 | 6.1% | 2 |
| Advanced products | 5 years | +10.5% | ¥567972000000 | 3.5% | 2 |
| Metal working solutions | 5 years | +15.6% | ¥230591000000 | 6.5% | 2 |
| Other | 5 years | -14.3% | ¥101472000000 | 14.6% | 2 |
| Renewable Energy | 3 years | +21.3% | ¥6202000000 | 12.9% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 1,844,053 | 100.0% | S100YFRY |
| Cost of revenue | 1,645,083 | 89.2% | S100YFRY |
| Gross profit | 198,969 | 10.8% | S100YFRY |
| SG&A | 138,466 | 7.5% | S100YFRY |
| Operating income | 60,502 | 3.3% | S100YFRY |
| Ordinary income | 97,556 | 5.3% | S100YFRY |
| Pretax income | 61,801 | 3.4% | S100YFRY |
| Income tax | 14,787 | 0.8% | S100YFRY |
| Net income | 47,013 | 2.5% | S100YFRY |
| Net income attributable to owners | 40,581 | 2.2% | S100YFRY |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 89 |
| SG&A | 8 |
| Operating income | 3 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 10.8% → Operating margin 3.3% → Net margin 2.2%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue down, profit up
Revenue growth: -6.0%; Core profit growth: +63.0%
Operating leverage (core profit growth ÷ revenue growth): -10.47×
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 | 1,962,076 | 1,844,053 | -118,023 | -6.0% |
| Gross profit | 166,645 | 198,969 | 32,324 | +19.4% |
| Operating income | 37,118 | 60,502 | 23,384 | +63.0% |
| Net income attributable to owners | 34,076 | 40,581 | 6,505 | +19.1% |
| Operating cash flow | 58,889 | 39,674 | -19,215 | -32.6% |
| Free cash flow | -1,400 | -11,971 | -10,571 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 1,516,100 | 37,952 | 2.5% | -72,850 | 67,545 | -23,639 | S100LMJY |
| FY ending Mar 2021 | 1,485,121 | 26,567 | 1.8% | 24,407 | 78,442 | -285 | S100OES8 |
| FY ending Mar 2022 | 1,811,759 | 52,708 | 2.9% | 45,015 | 6,889 | -71,273 | S100R12D |
| FY ending Mar 2023 | 1,625,933 | 50,076 | 3.1% | 20,330 | 45,164 | -31,548 | S100TRRS |
| FY ending Mar 2024 | 1,540,642 | 23,276 | 1.5% | 29,793 | 51,351 | -31,603 | S100W34Q |
| FY ending Mar 2025 | 1,962,076 | 37,118 | 1.9% | 34,076 | 58,889 | -1,400 | S100YFRY |
| FY ending Mar 2026 | 1,844,053 | 60,502 | 3.3% | 40,581 | 39,674 | -11,971 | S100YFRY |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥104.8M |
| Operating income per employee (consolidated) | ¥3.4M |
| Net income per employee (consolidated) | ¥2.3M |

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) | 23,711 | 18,576 | 18,323 | 18,452 | 17,591 |
| Average salary (parent company) | ¥6.7M | ¥7M | ¥7.1M | ¥7.1M | ¥7.3M |
| Average age (parent company) | 42.0 years | 42.2 years | 42.6 years | 43.2 years | 43.0 years |
| Average tenure (parent company) | 17.7 years | 17.8 years | 18.2 years | 18.5 years | 19.0 years |

Year over year: Employees (consolidated) -4.7% · Revenue (consolidated) -6.0%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Metals | 937,814 | 50.9% | 57,066 | 6.1% |
| Advanced products | 567,972 | 30.8% | 20,093 | 3.5% |
| Metal working solutions | 230,591 | 12.5% | 14,980 | 6.5% |
| Renewable Energy | 6,202 | 0.3% | 802 | 12.9% |
| Other | 101,472 | 5.5% | 14,856 | 14.6% |

### 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 |
| --- | ---: |
| Metals | 50.9% |
| Advanced products | 30.8% |
| Metal working solutions | 12.5% |
| Renewable Energy | 0.3% |
| Other | 5.5% |

Segment → industry: Metal working solutions → Machine Tools / Advanced products → Non-ferrous Metals & Wires / Metals → Non-ferrous Metals & Wires / Renewable Energy → Electric Power & Gas / Advanced products → Electronic Components / Metals → Waste Management & Recycling

## 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 | 39,674 | 2.2% | S100YFRY |
| Capital expenditure | 51,645 | 2.8% | S100YFRY |
| Free cash flow | -11,971 | -0.6% | 算出 |
| Investing cash flow | -35,030 | -1.9% | S100YFRY |
| Financing cash flow | 23,244 | 1.3% | S100YFRY |
| Dividends paid | 13,084 | 0.7% | S100YFRY |
| Share buyback | 22 | 0.0% | S100YFRY |
| Change in cash | 33,255 | 1.8% | S100YFRY |
| Cash and equivalents | 121,749 | 6.6% | S100YFRY |

## 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 | 153,640 | 141,079 | 131,143 | 88,642 | 121,749 | S100TRRS, S100W34Q, S100YFRY |
| Total assets | 2,125,032 | 1,891,795 | 2,167,628 | 2,379,409 | 2,999,744 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Net assets | 655,752 | 628,875 | 685,623 | 693,276 | 752,978 | S100TRRS, S100W34Q, S100YFRY |
| Share capital | 119,457 | 119,457 | 119,457 | 119,457 | 119,457 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Property, plant and equipment | 629,199 | 426,214 | 472,096 | 443,836 | 434,533 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Intangible assets excluding goodwill | 48,556 | 28,769 | 29,349 | 51,788 | 46,940 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Goodwill | 29,371 | 9,224 | 8,029 | 23,577 | 19,599 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Investment securities | 165,232 | 256,544 | 286,714 | 310,772 | 330,663 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Current assets | 1,238,932 | 1,116,040 | 1,283,029 | 1,464,306 | 2,064,993 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Current liabilities | 926,693 | 818,361 | 994,119 | 1,297,333 | 1,871,989 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Trade payables | 158,534 | 85,211 | 94,745 | 99,426 | 123,608 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Short-term borrowings | 171,304 | 146,972 | 182,772 | 308,345 | 281,845 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Long-term borrowings | 327,405 | 291,589 | 315,391 | 184,753 | 160,225 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Bonds | 70,000 | 70,000 | 80,000 | 100,000 | 110,000 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Interest-bearing debt | 568,709 | 508,561 | 578,163 | 593,098 | 552,070 | 算出 |
| Total liabilities | 1,469,280 | 1,262,919 | 1,482,005 | 1,686,132 | 2,246,766 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Non-controlling interests | 70,935 | 35,550 | 31,981 | 16,026 | 16,866 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Equity attributable to owners of parent | 524,837 | 537,345 | 556,875 | 577,714 | 605,338 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Retained earnings | 328,864 | 338,867 | 358,569 | 379,339 | 406,922 | S100R12D, S100TRRS, S100W34Q, S100YFRY |
| Treasury stock | -2,892 | -2,897 | -2,898 | -2,828 | -2,788 | S100R12D, S100TRRS, S100W34Q, S100YFRY |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 4% | S100YFRY |
| Property, plant and equipment | 15% | S100YFRY |
| Intangibles and goodwill | 2% | S100YFRY |
| Investment securities | 11% | S100YFRY |
| Other assets | 68% | S100YFRY |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 4% | S100YFRY |
| Interest-bearing debt | 19% | 算出 |
| Other liabilities | 52% | S100YFRY |
| Equity | 25% | S100YFRY |

### 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 | 2,125,032 | 1,891,795 | 2,167,628 | 2,379,409 | 2,999,744 |
| Equity | 655,752 | 628,875 | 685,623 | 693,276 | 752,978 |
| Interest-bearing debt | 568,709 | 508,561 | 578,163 | 593,098 | 552,070 |
| Cash | 153,640 | 141,079 | 131,143 | 88,642 | 121,749 |

## 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) | 23.6% | S100YFRY |
| Fixed assets ÷ total assets | 14.5% | S100YFRY |
| Goodwill ÷ parent equity | 3.2% | S100YFRY |

Goodwill over 4 years: 29,371 → 19,599 JPY; total investing cash flow: -264,606 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) | 4.1% |
| Cash ÷ revenue | 6.6% |
| Net cash (cash − interest-bearing debt) | -¥430.3B |
| Net debt ÷ operating cash flow | 10.85× |
| Cash conversion (operating CF ÷ operating income) | 65.6% |
| Cash vs. profit gap | -907 JPY mn (of net income -2.2%) |
| Shareholder returns / net income | 32.3% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 32.2% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 2.8% |
| Investing CF relative to operating CF | 88.3% |

## 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 | 2.5% | 0.85× | 2.1% | 4.05× | 8.6% | S100R12D |
| 2023 | 1.3% | 0.81× | 1.0% | 3.78× | 3.8% | S100TRRS |
| 2024 | 1.9% | 0.76× | 1.5% | 3.71× | 5.4% | S100W34Q |
| 2025 | 1.7% | 0.86× | 1.5% | 4.01× | 6.0% | S100YFRY |
| 2026 | 2.2% | 0.69× | 1.5% | 4.55× | 6.9% | S100YFRY |

## 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 | 15.6% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.8% | 2026-03-31 |
| BNYM AS AGT／CLTS NON TREATY JASDEC （常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 4.3% | 2026-03-31 |
| NORTHERN TRUST CO. （AVFC） RE SILCHESTER INTERNATIONAL INVESTORS INTERNATIONAL VALUE EQUITY TRUST （常任代理人 香港上海銀行東京支店） | Major shareholder | 3.2% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505223 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.7% | 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 | 2.6% | 2026-03-31 |
| 明治安田生命保険相互会社 （常任代理人 株式会社日本カストディ銀行） | Major shareholder | 2.4% | 2026-03-31 |
| NORTHERN TRUST CO.（AVFC） RE U.S. TAX EXEMPTED PENSION FUNDS （常任代理人 香港上海銀行東京支店） | Major shareholder | 1.9% | 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 | 1.5% | 2026-03-31 |
| DFA INTL SMALL CAP VALUE PORTFOLIO （常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 1.3% | 2026-03-31 |

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

- Less gold came out of the smelters, and revenue fell -6.0% to ¥1.84T.
- Pricier copper and gold did the opposite for profit: operating income climbed from ¥37.1B to ¥60.5B.
- Cash was tighter. Operating cash flow shrank to ¥39.7B, below capital spending, leaving free cash flow at -¥12B.

### Drivers

- Metals: higher copper and gold prices outweighed worse smelting fees (TC/RC).
- Metal working solutions: H.C. Starck, the German tungsten recycler, was consolidated, and carbide tool prices went up.
- Advanced products: it sold more copper products, at higher copper prices.

### Risks

- Carbon taxes or emissions trading could add costs linked to its greenhouse gas output.
- A cyberattack or data leak could damage trust.
- A safety, environmental or quality failure could bring penalties.

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101期(2025/04/01－2026/03/31) | S100YFRY | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YFRY,, |
| 有価証券報告書－第100期(2024/04/01－2025/03/31) | S100W34Q | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W34Q,, |
| 有価証券報告書－第99期(2023/04/01－2024/03/31) | S100TRRS | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TRRS,, |
| 有価証券報告書－第98期(2022/04/01－2023/03/31) | S100R12D | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R12D,, |
| 有価証券報告書－第97期(令和3年4月1日－令和4年3月31日) | S100OES8 | 2022-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OES8,, |
| 有価証券報告書－第96期(令和2年4月1日－令和3年3月31日) | S100LMJY | 2021-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LMJY,, |

## 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).