# The Nisshin OilliO Group, 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154期(2025/04/01－2026/03/31) (S100YB17)
> Page: https://vizora.meequs.com/en/company/nisshin-oillio-group
> Retrieved: 2026-09-30T17:52:39.269Z

## Company

The Nisshin OilliO Group, founded in 1907, is a company in Food Ingredients listed on TSE Prime. It has 3,286 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | The Nisshin OilliO Group, Ltd. |
| Ticker | 2602 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/2602.T) |
| Listing | TSE Prime |
| Head office | 東京都中央区新川一丁目23番1号 |
| Representative (per filing) | 代表取締役社長 久野貴久 |
| Founded | Mar 1907 |
| Share capital | ¥16.3B |
| Employees (consolidated) | 3,286 |
| Average salary (parent only) | ¥7.7M |
| Fiscal year end | March |
| Website | nisshin-oillio.com (https://nisshin-oillio.com/) |
| Corporate number | 1010001034887 |
| EDINET | E00428 |
| Industries (Vizora) | Food Ingredients, Processed Foods, Chemicals |

> Profile source: annual securities report (S100YB17, filed 2026-06-16). As of filing

## Five-axis industry profile

Primary industry: Food Ingredients (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 84.1 | 22 |
| Profitability | 14.6 | 24 |
| Cash conversion | 10.4 | 24 |
| Efficiency | 85.4 | 24 |
| Financial strength | 8.3 | 6 |

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 41% of The Nisshin OilliO Group's sales come from Oil, fat and meal and processed food and materials business, with Oil,fat and meal business and GlobalOilAndFatAndProcessedOilAndFatBusinessReportableSegmentMember making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed +4.4% from the prior year, operating profit -11.7%.

## Company structure

- Segment revenue mix: Oil, fat and meal and processed food and materials business 41.3%、Oil,fat and meal business 33.0%、GlobalOilAndFatAndProcessedOilAndFatBusinessReportableSegmentMember 14.7%、Processed food and material business 8.3%、Fine chemical business 1.6%
- Revenue → net income: ¥554251000000 → ¥24484000000
- Net income → operating cash flow: ¥24484000000 → ¥10460000000（difference ¥-14024000000）
- Main uses of operating cash flow: CapEx ¥29276000000 / dividends ¥5746000000 / buybacks ¥10006000000
- Change in cash: ¥10533000000
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 | ¥554.3B |  |
| Operating income | ¥17B | Margin 3.1% |
| Net income | ¥24B | Margin 4.3% |
| Free cash flow | -¥18.8B |  |
| Largest business | Oil, fat and meal and processed food and materials business | of segment revenue 41.3% |
| Employees (consolidated) | 3,286 |  |
| EPS | ¥217.61 |  |
| Book value per share | ¥1506.42 |  |
| Equity ratio | 46.6% |  |
| Shares outstanding | 33,716,000 |  |
| Treasury shares | 3,085,900 |  |
| Shareholders | 45,550 |  |
| Average salary (parent only) | ¥7.7M | Filing company only |
| Cash ratio | 5.5% | Net cash -¥82.8B · Cash ÷ revenue 4.5% |
| Vs. industry median margin | -2.2 pp | Food Ingredients |
| ROE | 13.8% | Derived from disclosed figures |
| ROA | 5.7% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 1.7× dividends

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥336306000000 | ¥554251000000 | +64.8% |
| Operating income | ¥12324000000 | ¥17027000000 | +38.2% |
| Operating margin | 3.7% | 3.1% | -0.6 pp |
| Employees | 3,001 people | 3,286 people | +9.5% |
| Cash and equivalents | ¥9256000000 | ¥24953000000 | +169.6% |

### 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 |
| --- | ---: |
| 油脂・油糧および加工食品事業 → 事業再編・廃止 | 28.2% |
| 加工油脂事業 → 事業再編・廃止 | 6.4% |
| 油脂・油糧事業 → 油脂・油糧事業 | 25.3% |
| 加工食品・素材事業 → 加工食品・素材事業 | 6.3% |
| 油脂事業 → 事業再編・廃止 | 31.7% |
| ファインケミカル事業 → ファインケミカル事業 | 1.6% |
| ファインケミカル事業 → 事業再編・廃止 | 0.0% |
| その他 → その他 | 0.3% |
| 新設・再編 → グローバル油脂・加工油脂事業 | 14.7% |
| 新設・再編 → 油脂・油糧事業 | 7.7% |
| 新設・再編 → 加工食品・素材事業 | 1.9% |
| 新設・再編 → 油脂・油糧および加工食品・素材事業 | 41.3% |
| 新設・再編 → その他 | 0.8% |

Segment revenue source references: 13 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Oil, fat and meal and processed food and materials business | — | — | ¥389586000000 | 2.9% | 2 |
| Oil,fat and meal business | 5 years | +8.0% | ¥311544000000 | 2.2% | 2 |
| GlobalOilAndFatAndProcessedOilAndFatBusinessReportableSegmentMember | — | — | ¥138848000000 | 3.4% | 2 |
| Processed food and material business | 5 years | +8.0% | ¥78042000000 | 5.7% | 2 |
| Fine chemical business | 5 years | +1.8% | ¥15509000000 | 10.1% | 2 |
| Other | 5 years | +29.5% | ¥10307000000 | 5.1% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 554,251 | 100.0% | S100YB17 |
| Cost of revenue | 479,463 | 86.5% | S100YB17 |
| Gross profit | 74,788 | 13.5% | S100YB17 |
| SG&A | 57,760 | 10.4% | S100YB17 |
| Operating income | 17,027 | 3.1% | S100YB17 |
| Ordinary income | 16,030 | 2.9% | S100YB17 |
| Pretax income | 35,191 | 6.3% | S100YB17 |
| Income tax | 10,706 | 1.9% | S100YB17 |
| Net income | 24,484 | 4.4% | S100YB17 |
| Net income attributable to owners | 23,988 | 4.3% | S100YB17 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 87 |
| SG&A | 10 |
| Operating income | 3 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 13.5% → Operating margin 3.1% → Net margin 4.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +4.4%; Core profit growth: -11.7%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -2.65×
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 | 530,878 | 554,251 | 23,373 | +4.4% |
| Gross profit | 74,783 | 74,788 | 5 | +0.0% |
| Operating income | 19,278 | 17,027 | -2,251 | -11.7% |
| Net income attributable to owners | 12,850 | 23,988 | 11,138 | +86.7% |
| Operating cash flow | 21,166 | 10,460 | -10,706 | -50.6% |
| Free cash flow | 5,692 | -18,816 | -24,508 | -430.6% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 333,416 | 13,133 | 3.9% | 8,293 | 22,421 | 10,479 | S100LQXX |
| FY ending Mar 2021 | 336,306 | 12,324 | 3.7% | 9,244 | 6,340 | -7,813 | S100P9GV |
| FY ending Mar 2022 | 432,778 | 11,670 | 2.7% | 8,595 | -26,631 | -36,769 | S100R26N |
| FY ending Mar 2023 | 556,565 | 16,186 | 2.9% | 11,157 | 398 | -6,834 | S100TUGV |
| FY ending Mar 2024 | 513,541 | 20,840 | 4.1% | 15,148 | 36,715 | 21,952 | S100W0C9 |
| FY ending Mar 2025 | 530,878 | 19,278 | 3.6% | 12,850 | 21,166 | 5,692 | S100YB17 |
| FY ending Mar 2026 | 554,251 | 17,027 | 3.1% | 23,988 | 10,460 | -18,816 | S100YB17 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥168.7M |
| Operating income per employee (consolidated) | ¥5.2M |
| Net income per employee (consolidated) | ¥7.3M |

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) | 2,987 | 3,001 | 3,126 | 3,254 | 3,286 |
| Average salary (parent company) | ¥7.1M | ¥7.2M | ¥8M | ¥8.6M | ¥7.7M |
| Average age (parent company) | 42.2 years | 42.1 years | 41.9 years | 41.8 years | 41.6 years |
| Average tenure (parent company) | 18.6 years | 18.4 years | 18.0 years | 17.8 years | 17.3 years |

Year over year: Employees (consolidated) +1.0% · Revenue (consolidated) +4.4%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| GlobalOilAndFatAndProcessedOilAndFatBusinessReportableSegmentMember | 138,848 | 14.7% | 4,766 | 3.4% |
| Oil,fat and meal business | 311,544 | 33.0% | 6,706 | 2.2% |
| Processed food and material business | 78,042 | 8.3% | 4,418 | 5.7% |
| Oil, fat and meal and processed food and materials business | 389,586 | 41.3% | 11,124 | 2.9% |
| Fine chemical business | 15,509 | 1.6% | 1,559 | 10.1% |
| Other | 10,307 | 1.1% | 524 | 5.1% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| GlobalOilAndFatAndProcessedOilAndFatBusinessReportableSegmentMember | 14.7% | 16.4% | 1.7 | 3.4% |
| Oil,fat and meal business | 33.0% | 23.0% | -10.0 | 2.2% |
| Processed food and material business | 8.3% | 15.2% | 6.9 | 5.7% |
| Oil, fat and meal and processed food and materials business | 41.3% | 38.2% | -3.0 | 2.9% |
| Fine chemical business | 1.6% | 5.4% | 3.7 | 10.1% |
| Other | 1.1% | 1.8% | 0.7 | 5.1% |

Segment → industry: GlobalOilAndFatAndProcessedOilAndFatBusinessReportableSegmentMember → Food Ingredients / Oil,fat and meal business → Food Ingredients / Processed food and material business → Food Ingredients / Processed food and material business → Processed Foods / Oil, fat and meal and processed food and materials business → Food Ingredients / Oil, fat and meal and processed food and materials business → Processed Foods / Fine chemical business → Chemicals

## 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 | 10,460 | 1.9% | S100YB17 |
| Capital expenditure | 29,276 | 5.3% | S100YB17 |
| Free cash flow | -18,816 | -3.4% | 算出 |
| Investing cash flow | -9,832 | -1.8% | S100YB17 |
| Financing cash flow | 8,231 | 1.5% | S100YB17 |
| Dividends paid | 5,746 | 1.0% | S100YB17 |
| Share buyback | 10,006 | 1.8% | S100YB17 |
| Change in cash | 10,533 | 1.9% | S100YB17 |
| Cash and equivalents | 24,953 | 4.5% | S100YB17 |

## 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 | 7,875 | 10,899 | 16,483 | 14,420 | 24,953 | S100TUGV, S100W0C9, S100YB17 |
| Total assets | 344,506 | 374,453 | 393,382 | 388,242 | 451,185 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Net assets | 164,314 | 171,418 | 192,562 | 198,086 | 222,004 | S100TUGV, S100W0C9, S100YB17 |
| Share capital | 16,332 | 16,332 | 16,332 | 16,332 | 16,332 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Trade receivables | 88,200 | 99,578 | 101,927 | 94,983 | 95,413 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Inventories | 84,811 | 106,041 | 97,615 | 103,282 | 117,432 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Property, plant and equipment | 101,230 | 101,247 | 105,332 | 110,284 | 133,202 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Intangible assets excluding goodwill | 1,671 | 2,121 | 2,667 | 2,540 | 3,510 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Goodwill | 227 | 204 | 186 | 143 | 114 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Investment securities | 30,393 | 27,654 | 39,812 | 33,725 | 36,188 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Current assets | 201,840 | 233,567 | 232,753 | 228,661 | 262,063 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Current liabilities | 105,891 | 115,646 | 110,369 | 106,299 | 112,087 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Trade payables | 44,855 | 51,073 | 47,783 | 48,958 | 45,554 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Short-term borrowings | 35,370 | 33,500 | 14,266 | 19,147 | 17,611 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Long-term borrowings | 38,195 | 52,313 | 56,632 | 50,623 | 65,121 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Bonds | 20,000 | 20,000 | 15,000 | 15,000 | 25,000 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Interest-bearing debt | 93,565 | 105,813 | 85,898 | 84,770 | 107,732 | 算出 |
| Total liabilities | 180,192 | 203,034 | 200,820 | 190,156 | 229,180 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Non-controlling interests | 8,088 | 8,859 | 9,940 | 10,939 | 11,782 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Equity attributable to owners of parent | 144,305 | 151,821 | 162,576 | 169,353 | 177,650 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Retained earnings | 110,379 | 117,899 | 128,650 | 135,402 | 153,622 | S100R26N, S100TUGV, S100W0C9, S100YB17 |
| Treasury stock | -4,071 | -4,073 | -4,068 | -4,044 | -14,044 | S100R26N, S100TUGV, S100W0C9, S100YB17 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 6% | S100YB17 |
| Receivables | 21% | S100YB17 |
| Inventories | 26% | S100YB17 |
| Property, plant and equipment | 29% | S100YB17 |
| Intangibles and goodwill | 1% | S100YB17 |
| Investment securities | 8% | S100YB17 |
| Other assets | 9% | S100YB17 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 10% | S100YB17 |
| Interest-bearing debt | 24% | 算出 |
| Other liabilities | 17% | S100YB17 |
| Equity | 49% | S100YB17 |
| Other liabilities | 0% | S100YB17 |

### 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 | 344,506 | 374,453 | 393,382 | 388,242 | 451,185 |
| Equity | 164,314 | 171,418 | 192,562 | 198,086 | 222,004 |
| Interest-bearing debt | 93,565 | 105,813 | 85,898 | 84,770 | 107,732 |
| Cash | 7,875 | 10,899 | 16,483 | 14,420 | 24,953 |

## 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) | 24.0% | S100YB17 |
| Fixed assets ÷ total assets | 29.5% | S100YB17 |
| Goodwill ÷ parent equity | 0.1% | S100YB17 |

Goodwill over 4 years: 227 → 114 JPY; total investing cash flow: -50,975 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) | 5.5% |
| Cash ÷ revenue | 4.5% |
| Net cash (cash − interest-bearing debt) | -¥82.8B |
| Net debt ÷ operating cash flow | 7.91× |
| Cash conversion (operating CF ÷ operating income) | 61.4% |
| Cash vs. profit gap | -13,528 JPY mn (of net income -56.4%) |
| Shareholder returns / net income | 65.7% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 24.0% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 5.3% |
| Investing CF relative to operating CF | 94.0% |

## 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 | 2.0% | 1.26× | 2.5% | 2.39× | 6.0% | S100R26N |
| 2023 | 2.0% | 1.55× | 3.1% | 2.43× | 7.5% | S100TUGV |
| 2024 | 2.9% | 1.34× | 3.9% | 2.44× | 9.6% | S100W0C9 |
| 2025 | 2.4% | 1.36× | 3.3% | 2.35× | 7.7% | S100YB17 |
| 2026 | 4.3% | 1.32× | 5.7% | 2.42× | 13.8% | S100YB17 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 丸紅株式会社 | Major shareholder | 16.9% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 12.9% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 9.0% | 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 | 1.9% | 2026-03-31 |
| キッコーマン株式会社 | Major shareholder | 1.5% | 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 |
| 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 | 1.2% | 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 | 1.1% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 1.0% | 2026-03-31 |
| 日清オイリオグループ従業員持株会 | Major shareholder | 0.9% | 2026-03-31 |

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

- Revenue for FY ending Mar 2026 was ¥554.3B, up +4.4% from ¥530.9B a year earlier.
- Gross profit stayed flat at ¥74.8B, and operating income slipped -11.7% from ¥19.3B to ¥17B.
- Net income rose +86.7% from ¥12.8B to ¥24B, but the jump came from a one-off gain on selling fixed assets rather than from the core business.
- Operating cash flow fell -50.6% to ¥10.5B, and free cash flow turned negative at -¥18.8B.

### Drivers

- In domestic oils and meal, price increases did not stick as hoped while manufacturing, logistics, packaging and oil costs climbed, and household oil volumes fell, so sales and profit both declined.
- The global oils and fats business sold more chocolate fats as cocoa prices soared and charged more as palm oil prices rose, but mark-to-market losses on palm oil contracts cut its profit.
- Processed foods and materials grew sales through chocolate price increases, yet lower volumes at overseas subsidiaries and higher costs reduced profit.
- Operating cash flow was held down by the non-cash asset sale gain being backed out and by a build-up of inventory.

### Risks

- All of its soybeans, rapeseed and cocoa are imported, so exchange rates and crop prices weigh directly on results.
- Domestic prices for oil and meal broadly follow world markets, and selling prices can lag behind changes in costs.
- Tension in the Middle East could spread across the business through oil prices, shipping and currencies.

Cited: Annual Securities Report (154th fiscal period) (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 (154th fiscal period) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第154期(2025/04/01－2026/03/31) | S100YB17 | 2026-06-16 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YB17,, |
| 有価証券報告書－第153期(2024/04/01－2025/03/31) | S100W0C9 | 2025-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W0C9,, |
| 有価証券報告書－第152期(2023/04/01－2024/03/31) | S100TUGV | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TUGV,, |
| 有価証券報告書－第151期(2022/04/01－2023/03/31) | S100R26N | 2023-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R26N,, |
| 訂正有価証券報告書－第150期(令和3年4月1日－令和4年3月31日) | S100P9GV | 2022-09-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100P9GV,, |
| 有価証券報告書－第149期(令和2年4月1日－令和3年3月31日) | S100LQXX | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LQXX,, |

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

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| 丸紅 | Capital alliance | 大株主の丸紅と原料調達・生産・販売・物流で協力（取締役1名の指名権の合意） | S100YB17 |
| J-オイルミルズ | Alliance | 搾油工程（原油と油粕の製造）までの業務提携 | S100YFUT |

## 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).