# NHK SPRING CO., LTD.: 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106期(2025/04/01－2026/03/31) (S100YD4O)
> Page: https://vizora.meequs.com/en/company/nhk-spring
> Retrieved: 2026-09-30T17:58:16.910Z

## Company

NHK Spring, founded in 1936, is a company in Auto Parts listed on TSE Prime. It has 18,121 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | NHK SPRING CO., LTD. |
| Ticker | 5991 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/5991.T) |
| Listing | TSE Prime |
| Head office | 横浜市金沢区福浦三丁目10番地 |
| Representative (per filing) | 代表取締役社長 上村 和久 |
| Founded | Jun 1936 |
| Share capital | ¥17B |
| Employees (consolidated) | 18,121 |
| Average salary (parent only) | ¥8.5M |
| Fiscal year end | March |
| Website | www.nhkspg.co.jp (https://www.nhkspg.co.jp/) |
| Corporate number | 7020001006616 |
| EDINET | E01367 |
| Industries (Vizora) | Auto Parts, Electronic Components, Industrial Machinery |

> Profile source: annual securities report (S100YD4O, filed 2026-06-17). As of filing

## Five-axis industry profile

Primary industry: Auto Parts (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 56.8 | 110 |
| Profitability | 62.6 | 111 |
| Cash conversion | 49.5 | 108 |
| Efficiency | 76.1 | 111 |
| Financial strength | 89.3 | 14 |

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 36% of NHK Spring's sales come from Seating, with Suspension springs and Disk Drive Suspension making up much of the rest.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed +1.9% from the prior year, operating profit -12.2%.

## Company structure

- Segment revenue mix: Seating 35.8%、Suspension springs 20.5%、Disk Drive Suspension 15.5%、Industrial machinery and equipment, and other operations 15.2%、Precision springs and components 12.9%
- Revenue → net income: ¥816879000000 → ¥28630000000
- Net income → operating cash flow: ¥28630000000 → ¥77446000000（difference ¥48816000000）
- Main uses of operating cash flow: CapEx ¥41918000000 / dividends ¥14680000000 / buybacks ¥1983000000
- Change in cash: ¥8141000000
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 | ¥816.9B |  |
| Operating income | ¥45.8B | Margin 5.6% |
| Net income | ¥27.9B | Margin 3.4% |
| Free cash flow | ¥35.5B |  |
| Largest business | Seating | of segment revenue 35.8% |
| Employees (consolidated) | 18,121 |  |
| EPS | ¥210.1 |  |
| Book value per share | ¥1102.24 |  |
| Equity ratio | 59.3% |  |
| Shares outstanding | 231,066,144 |  |
| Treasury shares | 27,443,300 |  |
| Shareholders | 11,080 |  |
| Average salary (parent only) | ¥8.5M | Filing company only |
| Cash ratio | 12.2% | Net cash ¥38B · Cash ÷ revenue 11.0% |
| Vs. industry median margin | +0.8 pp | Auto Parts |
| ROE | 8.4% | Derived from disclosed figures |
| ROA | 3.9% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.8× net income
- FY2026, segment profit share differs by 41 points
- FY2026, parent-company salary changed +21% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥572639000000 | ¥816879000000 | +42.7% |
| Operating income | ¥10463000000 | ¥45784000000 | +337.6% |
| Operating margin | 1.8% | 5.6% | +3.8 pp |
| Employees | 18,375 people | 18,121 people | -1.4% |
| Cash and equivalents | ¥78986000000 | ¥89963000000 | +13.9% |

### 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 |
| --- | ---: |
| 懸架ばね → 懸架ばね | 17.8% |
| シート → シート | 35.8% |
| シート → 事業再編・廃止 | 6.5% |
| 精密部品 → 精密部品 | 12.9% |
| 精密部品 → 事業再編・廃止 | 11.3% |
| 産業機器ほか → 産業機器ほか | 15.2% |
| 産業機器ほか → 事業再編・廃止 | 0.4% |
| 新設・再編 → 懸架ばね | 2.7% |
| 新設・再編 → DDS | 15.5% |

Segment revenue source references: 9 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Seating | 5 years | +3.8% | ¥292561000000 | 2.8% | 2 |
| Suspension springs | 5 years | +10.4% | ¥167417000000 | 0.4% | 2 |
| Disk Drive Suspension | 2 years | +37.3% | ¥126753000000 | 20.6% | 2 |
| Industrial machinery and equipment, and other operations | 5 years | +6.8% | ¥124535000000 | 5.9% | 2 |
| Precision springs and components | 5 years | -5.3% | ¥105612000000 | 3.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 816,879 | 100.0% | S100YD4O |
| Cost of revenue | 703,143 | 86.1% | S100YD4O |
| Gross profit | 113,736 | 13.9% | S100YD4O |
| SG&A | 67,952 | 8.3% | S100YD4O |
| Operating income | 45,784 | 5.6% | S100YD4O |
| Ordinary income | 52,189 | 6.4% | S100YD4O |
| Pretax income | 50,308 | 6.2% | S100YD4O |
| Income tax | 21,677 | 2.7% | S100YD4O |
| Net income | 28,630 | 3.5% | S100YD4O |
| Net income attributable to owners | 27,862 | 3.4% | S100YD4O |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 86 |
| SG&A | 8 |
| Operating income | 6 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 13.9% → Operating margin 5.6% → Net margin 3.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +1.9%; Core profit growth: -12.2%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -6.46×
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 | 801,698 | 816,879 | 15,181 | +1.9% |
| Gross profit | 113,055 | 113,736 | 681 | +0.6% |
| Operating income | 52,160 | 45,784 | -6,376 | -12.2% |
| Net income attributable to owners | 48,167 | 27,862 | -20,305 | -42.2% |
| Operating cash flow | 55,713 | 77,446 | 21,733 | +39.0% |
| Free cash flow | 12,469 | 35,528 | 23,059 | +184.9% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 664,499 | 20,715 | 3.1% | 4,612 | 36,621 | -10,797 | S100LRLL |
| FY ending Mar 2021 | 572,639 | 10,463 | 1.8% | 9,396 | 29,636 | 2,723 | S100O8IM |
| FY ending Mar 2022 | 586,903 | 21,359 | 3.6% | 31,998 | 34,505 | 10,339 | S100R45X |
| FY ending Mar 2023 | 693,246 | 28,838 | 4.2% | 21,537 | 13,656 | -13,337 | S100TSHQ |
| FY ending Mar 2024 | 766,934 | 34,652 | 4.5% | 39,188 | 66,706 | 32,786 | S100W53K |
| FY ending Mar 2025 | 801,698 | 52,160 | 6.5% | 48,167 | 55,713 | 12,469 | S100YD4O |
| FY ending Mar 2026 | 816,879 | 45,784 | 5.6% | 27,862 | 77,446 | 35,528 | S100YD4O |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥45.1M |
| Operating income per employee (consolidated) | ¥2.5M |
| Net income per employee (consolidated) | ¥1.5M |

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) | 17,695 | 17,612 | 17,739 | 17,953 | 18,121 |
| Average salary (parent company) | ¥7M | ¥7.3M | ¥7.7M | ¥7.9M | ¥8.5M |
| Average age (parent company) | 41.1 years | 41.5 years | 41.7 years | 41.8 years | 41.9 years |
| Average tenure (parent company) | 18.1 years | 18.4 years | 18.5 years | 18.5 years | 18.6 years |

Year over year: Employees (consolidated) +0.9% · Revenue (consolidated) +1.9%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Suspension springs | 167,417 | 20.5% | 727 | 0.4% |
| Seating | 292,561 | 35.8% | 8,052 | 2.8% |
| Precision springs and components | 105,612 | 12.9% | 3,651 | 3.5% |
| Disk Drive Suspension | 126,753 | 15.5% | 26,058 | 20.6% |
| Industrial machinery and equipment, and other operations | 124,535 | 15.2% | 7,294 | 5.9% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Suspension springs | 20.5% | 1.6% | -18.9 | 0.4% |
| Seating | 35.8% | 17.6% | -18.2 | 2.8% |
| Precision springs and components | 12.9% | 8.0% | -5.0 | 3.5% |
| Disk Drive Suspension | 15.5% | 56.9% | 41.4 | 20.6% |
| Industrial machinery and equipment, and other operations | 15.2% | 15.9% | 0.7 | 5.9% |

Segment → industry: Precision springs and components → Auto Parts / Seating → Auto Parts / Suspension springs → Auto Parts / Disk Drive Suspension → Electronic Components / Industrial machinery and equipment, and other operations → Industrial Machinery

## 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 | 77,446 | 9.5% | S100YD4O |
| Capital expenditure | 41,918 | 5.1% | S100YD4O |
| Free cash flow | 35,528 | 4.3% | 算出 |
| Investing cash flow | -41,606 | -5.1% | S100YD4O |
| Financing cash flow | -26,953 | -3.3% | S100YD4O |
| Dividends paid | 14,680 | 1.8% | S100YD4O |
| Share buyback | 1,983 | 0.2% | S100YD4O |
| Change in cash | 8,141 | 1.0% | S100YD4O |
| Cash and equivalents | 89,963 | 11.0% | S100YD4O |

## 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 | 91,894 | 57,845 | 93,065 | 81,805 | 89,963 | S100TSHQ, S100W53K, S100YD4O |
| Total assets | 588,091 | 606,039 | 690,289 | 696,340 | 738,450 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Net assets | 338,847 | 365,860 | 420,574 | 423,172 | 453,035 | S100TSHQ, S100W53K, S100YD4O |
| Share capital | 17,009 | 17,009 | 17,009 | 17,009 | 17,009 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Property, plant and equipment | 166,217 | 166,269 | 174,694 | 185,359 | 197,112 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Intangible assets excluding goodwill | 3,034 | 3,317 | 3,257 | 3,229 | 4,800 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Investment securities | 58,703 | 62,287 | 73,491 | 64,962 | 71,110 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Current assets | 325,279 | 337,237 | 382,690 | 390,414 | 409,546 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Current liabilities | 187,325 | 171,615 | 182,618 | 194,317 | 199,850 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Trade payables | 80,027 | 91,525 | 97,241 | 99,018 | 97,367 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Short-term borrowings | 28,672 | 21,167 | 11,985 | 27,199 | 26,558 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Long-term borrowings | 11,110 | 17,090 | 22,009 | 20,015 | 22,401 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Bonds | 10,000 | 11,000 | 12,000 | 13,000 | 3,000 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Interest-bearing debt | 49,782 | 49,257 | 45,994 | 60,214 | 51,959 | 算出 |
| Total liabilities | 249,244 | 240,179 | 269,715 | 273,168 | 285,414 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Non-controlling interests | 16,232 | 16,638 | 15,552 | 15,492 | 15,414 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Equity attributable to owners of parent | 283,085 | 296,518 | 320,723 | 325,741 | 336,972 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Retained earnings | 260,692 | 275,386 | 306,866 | 327,545 | 340,727 | S100R45X, S100TSHQ, S100W53K, S100YD4O |
| Treasury stock | -14,296 | -15,703 | -23,055 | -36,768 | -39,054 | S100R45X, S100TSHQ, S100W53K, S100YD4O |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 12% | S100YD4O |
| Property, plant and equipment | 27% | S100YD4O |
| Intangibles and goodwill | 1% | S100YD4O |
| Investment securities | 9% | S100YD4O |
| Other assets | 51% | S100YD4O |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 13% | S100YD4O |
| Interest-bearing debt | 7% | 算出 |
| Other liabilities | 19% | S100YD4O |
| Equity | 61% | S100YD4O |
| Other liabilities | 0% | S100YD4O |

### 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 | 588,091 | 606,039 | 690,289 | 696,340 | 738,450 |
| Equity | 338,847 | 365,860 | 420,574 | 423,172 | 453,035 |
| Interest-bearing debt | 49,782 | 49,257 | 45,994 | 60,214 | 51,959 |
| Cash | 91,894 | 57,845 | 93,065 | 81,805 | 89,963 |

## 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) | 24.1% | S100YD4O |
| Fixed assets ÷ total assets | 26.7% | S100YD4O |
| Goodwill ÷ parent equity | — | —, S100YD4O |

### 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) | 12.2% |
| Cash ÷ revenue | 11.0% |
| Net cash (cash − interest-bearing debt) | ¥38B |
| Net debt ÷ operating cash flow | -0.49× |
| Cash conversion (operating CF ÷ operating income) | 169.2% |
| Cash vs. profit gap | 49,584 JPY mn (of net income 178.0%) |
| Shareholder returns / net income | 59.8% |
| Shareholder returns / FCF | 46.9% |
| Shareholder payments — dividends / net income | 52.7% |
| Shareholder payments — dividends / FCF | 41.3% |
| CapEx intensity (capex ÷ revenue) | 5.1% |
| Investing CF relative to operating CF | 53.7% |

## 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 | 5.5% | 1.00× | 5.4% | 2.08× | 11.3% | S100R45X |
| 2023 | 3.1% | 1.16× | 3.6% | 2.06× | 7.4% | S100TSHQ |
| 2024 | 5.1% | 1.18× | 6.0% | 2.10× | 12.7% | S100W53K |
| 2025 | 6.0% | 1.16× | 6.9% | 2.14× | 14.9% | S100YD4O |
| 2026 | 3.4% | 1.14× | 3.9% | 2.17× | 8.4% | S100YD4O |

## 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 | 12.0% | 2026-03-31 |
| 三菱ＵＦＪ信託銀行 退職給付信託 大同特殊鋼口 共同受託者 日本マスタートラスト信託銀行株式会社 | Major shareholder | 11.0% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 6.6% | 2026-03-31 |
| 双日株式会社 | Major shareholder | 6.5% | 2026-03-31 |
| みずほ信託銀行株式会社 退職給付信託 神戸製鋼所口 再信託受託者 株式会社日本カストディ銀行 | Major shareholder | 4.7% | 2026-03-31 |
| みずほ信託銀行株式会社 退職給付信託 みずほ銀行口 再信託受託者 株式会社日本カストディ銀行 | Major shareholder | 2.8% | 2026-03-31 |
| 株式会社横浜銀行 （常任代理人 株式会社日本カストディ銀行） | Major shareholder | 2.8% | 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 | 2.4% | 2026-03-31 |
| 日本発条社員持株会 | Major shareholder | 2.1% | 2026-03-31 |
| THE BANK OF NEW YORK, TREATY JASDEC ACCOUNT （常任代理人 株式会社三菱ＵＦＪ銀行） | Major shareholder | 1.5% | 2026-03-31 |

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

- Revenue for the FY ending Mar 2026 was ¥816.9B, up +1.9% from ¥801.7B.
- Operating income fell -12.2% to ¥45.8B, and net income attributable to owners dropped -42.2% to ¥27.9B.
- Cash generation improved: operating cash flow rose +39.0% to ¥77.4B, and free cash flow climbed to ¥35.5B.

### Drivers

- Data-center demand for high-capacity hard drives lifted suspension volumes in the Disk Drive Suspension segment, though higher fixed costs left its operating income slightly lower
- Seating sales and profit fell as Japanese carmakers cut output in Japan and Thailand and the model mix shifted in North America, with one-off costs adding to the drop
- Industrial machinery kept growing sales on steady demand for semiconductor process parts, but depreciation on new capacity pulled its profit down
- Impairment losses turned extraordinary items into a loss and raised the tax burden, so net income fell much more than operating income

### Risks

- Tariffs: trade policy changes that started in the US are still unfolding, and profits could suffer if the costs cannot be passed on to customers
- Raw material and energy prices: price increases are meant to be passed on, but timing gaps can swing profits between periods
- Exchange rates: with large overseas production and sales, currency moves affect yen-translated results and export competitiveness

Cited: Annual Securities Report (106th term) (Management's analysis of financial position, results and cash flows); Annual Securities Report (106th term) (Business and other risks)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第106期(2025/04/01－2026/03/31) | S100YD4O | 2026-06-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YD4O,, |
| 有価証券報告書－第105期(2024/04/01－2025/03/31) | S100W53K | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W53K,, |
| 有価証券報告書－第104期(2023/04/01－2024/03/31) | S100TSHQ | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TSHQ,, |
| 有価証券報告書－第103期(2022/04/01－2023/03/31) | S100R45X | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R45X,, |
| 有価証券報告書－第102期(令和3年4月1日－令和4年3月31日) | S100O8IM | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O8IM,, |
| 有価証券報告書－第101期(令和2年4月1日－令和3年3月31日) | S100LRLL | 2021-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LRLL,, |

## 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).