# Nippon Yusen Kabushiki Kaisha: 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139期(2025/04/01－2026/03/31) (S100YBT6)
> Page: https://vizora.meequs.com/en/company/nyk
> Retrieved: 2026-09-30T19:03:19.392Z

## Company

NYK Line, founded in 1885, is a company in Airlines listed on TSE Prime. It has 39,830 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Nippon Yusen Kabushiki Kaisha |
| Ticker | 9101 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/9101.T) |
| Listing | TSE Prime |
| Head office | 東京都千代田区丸の内二丁目3番2号 |
| Representative (per filing) | 代表取締役社長・社長執行役員 曽我貴也 |
| Founded | Sep 1885 |
| Share capital | ¥144.3B |
| Employees (consolidated) | 39,830 |
| Average salary (parent only) | ¥15.5M |
| Fiscal year end | March |
| Website | www.nyk.com (https://www.nyk.com/) |
| Corporate number | 7010001023785 |
| EDINET | E04235 |
| Industries (Vizora) | Airlines, Shipping, Warehouses & Logistics Facilities |

> Profile source: annual securities report (S100YBT6, filed 2026-06-16). As of filing

## Five-axis industry profile

Primary industry: Warehouses & Logistics Facilities (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 85.1 | 37 |
| Profitability | 47.4 | 39 |
| Cash conversion | 96.1 | 38 |
| Efficiency | 24.4 | 39 |
| Financial strength | 32.1 | 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 35% of NYK Line's sales come from Logistics, with Dry Bulk and Automotive making up much of the rest.
- Out of every ¥100 of sales, about ¥6 is left as operating profit.
- Revenue changed -6.4% from the prior year, operating profit -34.3%.

## Company structure

- Segment revenue mix: Logistics 34.5%、Dry Bulk 23.4%、Automotive 22.7%、Energy 10.2%、Liner Trade 7.5%
- Revenue → net income: ¥2423689000000 → ¥215673000000
- Net income → operating cash flow: ¥215673000000 → ¥473358000000（difference ¥257685000000）
- Main uses of operating cash flow: CapEx ¥304502000000 / dividends ¥132974000000 / buybacks ¥144060000000
- Change in cash: ¥62422000000
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 | ¥2.42T |  |
| Operating income | ¥138.6B | Margin 5.7% |
| Net income | ¥211.8B | Margin 8.7% |
| Free cash flow | ¥168.9B |  |
| Largest business | Logistics | of segment revenue 34.5% |
| Employees (consolidated) | 39,830 |  |
| EPS | ¥721.9 |  |
| Book value per share | ¥2358.64 |  |
| Equity ratio | 59.1% |  |
| Shares outstanding | 408,780,000 |  |
| Treasury shares | 3,024,000 |  |
| Shareholders | 243,767 |  |
| Average salary (parent only) | ¥15.5M | Filing company only |
| Cash ratio | 4.1% | Net cash -¥675.9B · Cash ÷ revenue 8.7% |
| Vs. industry median margin | -0.1 pp | Warehouses & Logistics Facilities |
| ROE | 9.1% | Derived from disclosed figures |
| ROA | 4.4% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 2.2× net income
- FY2026, buybacks were 1.1× dividends
- FY2026, parent-company salary changed +44% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1608414000000 | ¥2423689000000 | +50.7% |
| Operating income | ¥71537000000 | ¥138601000000 | +93.7% |
| Operating margin | 4.4% | 5.7% | +1.3 pp |
| Employees | 35,057 people | 39,830 people | +13.6% |
| Cash and equivalents | ¥103593000000 | ¥210815000000 | +103.5% |

### 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 |
| --- | ---: |
| 定期船事業 → 定期船事業 | 7.5% |
| 定期船事業 → 事業再編・廃止 | 2.8% |
| 航空運送事業 → 航空運送事業 | 1.7% |
| 航空運送事業 → 事業再編・廃止 | 5.4% |
| 物流事業 → 物流事業 | 34.5% |
| 物流事業 → 事業再編・廃止 | 0.3% |
| 不定期専用船事業 → 事業再編・廃止 | 42.4% |
| 不動産業 → 事業再編・廃止 | 0.4% |
| その他の事業 → 事業再編・廃止 | 5.0% |
| 新設・再編 → 自動車事業 | 22.7% |
| 新設・再編 → ドライバルク事業 | 23.4% |
| 新設・再編 → エネルギー事業 | 10.2% |

Segment revenue source references: 12 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Logistics | 5 years | +7.5% | ¥801751000000 | 1.3% | 2 |
| Dry Bulk | 2 years | -2.1% | ¥543152000000 | 1.8% | 2 |
| Automotive | 2 years | +3.6% | ¥526130000000 | 18.6% | 2 |
| Energy | 2 years | +16.9% | ¥236443000000 | 23.0% | 2 |
| Liner Trade | 5 years | +1.0% | ¥174639000000 | 28.5% | 2 |
| Air Cargo Transportation | 5 years | -19.2% | ¥39616000000 | 5.4% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,423,689 | 100.0% | S100YBT6 |
| Cost of revenue | 1,994,295 | 82.3% | S100YBT6 |
| Gross profit | 429,393 | 17.7% | S100YBT6 |
| SG&A | 290,792 | 12.0% | S100YBT6 |
| Operating income | 138,601 | 5.7% | S100YBT6 |
| Ordinary income | 211,135 | 8.7% | S100YBT6 |
| Pretax income | 276,763 | 11.4% | S100YBT6 |
| Income tax | 61,090 | 2.5% | S100YBT6 |
| Net income | 215,673 | 8.9% | S100YBT6 |
| Net income attributable to owners | 211,750 | 8.7% | S100YBT6 |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 82 |
| SG&A | 12 |
| Operating income | 6 |
| (Ref.) Net income | 9 |

### Margin funnel

Gross margin 17.7% → Operating margin 5.7% → Net margin 8.7%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -6.4%; Core profit growth: -34.3%
Operating leverage (core profit growth ÷ revenue growth): 5.37×
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 | 2,588,700 | 2,423,689 | -165,011 | -6.4% |
| Gross profit | 469,338 | 429,393 | -39,945 | -8.5% |
| Operating income | 210,820 | 138,601 | -72,219 | -34.3% |
| Net income attributable to owners | 477,707 | 211,750 | -265,957 | -55.7% |
| Operating cash flow | 510,755 | 473,358 | -37,397 | -7.3% |
| Free cash flow | 304,249 | 168,856 | -135,393 | -44.5% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 1,668,355 | 38,696 | 2.3% | 31,129 | 116,931 | -21,835 | S100LK5W |
| FY ending Mar 2021 | 1,608,414 | 71,537 | 4.4% | 139,228 | 159,336 | 57,249 | S100OBUO |
| FY ending Mar 2022 | 2,280,775 | 268,939 | 11.8% | 1,009,105 | 507,762 | 315,036 | S100R01E |
| FY ending Mar 2023 | 2,616,066 | 296,350 | 11.3% | 1,012,523 | 824,853 | 626,493 | S100TNM1 |
| FY ending Mar 2024 | 2,387,240 | 174,679 | 7.3% | 228,603 | 401,414 | 65,133 | S100VY80 |
| FY ending Mar 2025 | 2,588,700 | 210,820 | 8.1% | 477,707 | 510,755 | 304,249 | S100YBT6 |
| FY ending Mar 2026 | 2,423,689 | 138,601 | 5.7% | 211,750 | 473,358 | 168,856 | S100YBT6 |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥60.9M |
| Operating income per employee (consolidated) | ¥3.5M |
| Net income per employee (consolidated) | ¥5.3M |

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) | 35,165 | 35,502 | 35,243 | 35,230 | 39,830 |
| Average salary (parent company) | ¥10.8M | ¥13.2M | ¥13.8M | ¥14.4M | ¥15.5M |
| Average age (parent company) | 39.8 years | 39.9 years | 39.8 years | 38.1 years | 37.8 years |
| Average tenure (parent company) | 13.8 years | 14.2 years | 13.9 years | 14.4 years | 13.9 years |

Year over year: Employees (consolidated) +13.1% · Revenue (consolidated) -6.4%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Liner Trade | 174,639 | 7.5% | 49,793 | 28.5% |
| Air Cargo Transportation | 39,616 | 1.7% | 2,158 | 5.4% |
| Logistics | 801,751 | 34.5% | 10,215 | 1.3% |
| Automotive | 526,130 | 22.7% | 97,935 | 18.6% |
| Dry Bulk | 543,152 | 23.4% | 9,574 | 1.8% |
| Energy | 236,443 | 10.2% | 54,418 | 23.0% |

### 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 |
| --- | ---: |
| Liner Trade | 7.5% |
| Air Cargo Transportation | 1.7% |
| Logistics | 34.5% |
| Automotive | 22.7% |
| Dry Bulk | 23.4% |
| Energy | 10.2% |

Segment → industry: Air Cargo Transportation → Airlines / Energy → Shipping / Dry Bulk → Shipping / Automotive → Shipping / Liner Trade → Shipping / Logistics → Warehouses & Logistics Facilities

## 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 | 473,358 | 19.5% | S100YBT6 |
| Capital expenditure | 304,502 | 12.6% | S100YBT6 |
| Free cash flow | 168,856 | 7.0% | 算出 |
| Investing cash flow | -371,238 | -15.3% | S100YBT6 |
| Financing cash flow | -33,386 | -1.4% | S100YBT6 |
| Dividends paid | 132,974 | 5.5% | S100YBT6 |
| Share buyback | 144,060 | 5.9% | S100YBT6 |
| Change in cash | 62,422 | 2.6% | S100YBT6 |
| Cash and equivalents | 210,815 | 8.7% | S100YBT6 |

## 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 | 226,694 | 196,231 | 144,858 | 149,859 | 210,815 | S100TNM1, S100VY80, S100YBT6 |
| Total assets | 3,080,023 | 3,776,797 | 4,254,770 | 4,326,780 | 5,201,670 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Net assets | 1,759,073 | 2,524,993 | 2,693,365 | 2,976,240 | 3,143,437 | S100TNM1, S100VY80, S100YBT6 |
| Share capital | 144,319 | 144,319 | 144,319 | 144,319 | 144,319 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Inventories | 57,029 | 57,593 | 69,886 | 64,641 | 72,572 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Property, plant and equipment | 964,277 | 1,143,751 | 1,373,126 | 1,301,280 | 1,630,650 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Intangible assets excluding goodwill | 23,602 | 41,392 | 53,305 | 53,992 | 293,296 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Goodwill | 8,711 | 13,712 | 27,743 | 22,866 | 250,566 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Investment securities | 1,146,438 | 1,688,380 | 1,813,157 | 1,992,649 | 1,975,423 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Current assets | 764,863 | 720,142 | 703,517 | 696,334 | 865,461 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Current liabilities | 573,282 | 499,034 | 744,554 | 523,106 | 873,855 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Short-term borrowings | 130,919 | 73,581 | 194,716 | 54,412 | 155,156 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Long-term borrowings | 447,069 | 422,691 | 461,294 | 465,763 | 609,512 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Bonds | 97,000 | 87,000 | 74,000 | 99,000 | 122,000 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Interest-bearing debt | 674,988 | 583,272 | 730,010 | 619,175 | 886,668 | 算出 |
| Total liabilities | 1,320,949 | 1,251,803 | 1,561,404 | 1,350,539 | 2,058,233 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Non-controlling interests | 45,359 | 46,352 | 42,993 | 52,475 | 71,442 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Equity attributable to owners of parent | 1,581,506 | 2,204,338 | 2,091,344 | 2,349,569 | 2,285,461 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Retained earnings | 1,396,300 | 2,018,915 | 2,105,521 | 2,298,208 | 2,117,971 | S100R01E, S100TNM1, S100VY80, S100YBT6 |
| Treasury stock | -3,428 | -3,793 | -203,595 | -131,968 | -16,487 | S100R01E, S100TNM1, S100VY80, S100YBT6 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 4% | S100YBT6 |
| Inventories | 1% | S100YBT6 |
| Property, plant and equipment | 31% | S100YBT6 |
| Intangibles and goodwill | 11% | S100YBT6 |
| Investment securities | 38% | S100YBT6 |
| Other assets | 15% | S100YBT6 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Interest-bearing debt | 17% | 算出 |
| Other liabilities | 23% | S100YBT6 |
| Equity | 60% | S100YBT6 |

### 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 | 3,080,023 | 3,776,797 | 4,254,770 | 4,326,780 | 5,201,670 |
| Equity | 1,759,073 | 2,524,993 | 2,693,365 | 2,976,240 | 3,143,437 |
| Interest-bearing debt | 674,988 | 583,272 | 730,010 | 619,175 | 886,668 |
| Cash | 226,694 | 196,231 | 144,858 | 149,859 | 210,815 |

## 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) | 67.3% | S100YBT6 |
| Fixed assets ÷ total assets | 31.3% | S100YBT6 |
| Goodwill ÷ parent equity | 11.0% | S100YBT6 |

Goodwill over 4 years: 8,711 → 250,566 JPY; total investing cash flow: -1,118,187 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 | 8.7% |
| Net cash (cash − interest-bearing debt) | -¥675.9B |
| Net debt ÷ operating cash flow | 1.43× |
| Cash conversion (operating CF ÷ operating income) | 341.5% |
| Cash vs. profit gap | 261,608 JPY mn (of net income 123.5%) |
| Shareholder returns / net income | 130.8% |
| Shareholder returns / FCF | 164.1% |
| Shareholder payments — dividends / net income | 62.8% |
| Shareholder payments — dividends / FCF | 78.7% |
| CapEx intensity (capex ÷ revenue) | 12.6% |
| Investing CF relative to operating CF | 78.4% |

## 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 | 44.2% | 0.74× | 32.8% | 1.95× | 63.8% | S100R01E |
| 2023 | 38.7% | 0.76× | 29.5% | 1.81× | 53.5% | S100TNM1 |
| 2024 | 9.6% | 0.59× | 5.7% | 1.87× | 10.6% | S100VY80 |
| 2025 | 18.5% | 0.60× | 11.1% | 1.93× | 21.5% | S100YBT6 |
| 2026 | 8.7% | 0.51× | 4.4% | 2.06× | 9.1% | S100YBT6 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行㈱（信託口） | Major shareholder | 17.2% | 2026-03-31 |
| ㈱日本カストディ銀行（信託口） | Major shareholder | 6.0% | 2026-03-31 |
| BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC) （常任代理人 ㈱三菱UFJ銀行） | Major shareholder | 2.4% | 2026-03-31 |
| 明治安田生命保険(相) （常任代理人 ㈱日本カストディ銀行） | Major shareholder | 2.0% | 2026-03-31 |
| 野村信託銀行㈱（投信口） | Major shareholder | 1.6% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 （常任代理人 ㈱みずほ銀行決済営業部） | Major shareholder | 1.4% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781 （常任代理人 ㈱みずほ銀行決済営業部） | Major shareholder | 1.4% | 2026-03-31 |
| 多田 勝美 | Major shareholder | 1.2% | 2026-03-31 |
| GOLDMAN SACHS INTERNATIONAL （常任代理人 ゴールドマン・サックス証券㈱） | Major shareholder | 1.1% | 2026-03-31 |
| 上田八木短資㈱ | 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 ¥2.42T, down 6.4% from ¥2.59T a year earlier.
- Operating income dropped 34.3% from ¥210.8B to ¥138.6B, and net income fell 55.7% from ¥477.7B to ¥211.8B.
- Operating cash flow slipped 7.3% to ¥473.4B, while free cash flow fell 44.5% to ¥168.9B.

### Drivers

- Container freight rates weakened as new ships added capacity and tariffs and Middle East tensions unsettled trade, and profit at the ONE joint venture also declined
- Nippon Cargo Airlines left the group through a share exchange with ANA Holdings, so the air cargo segment stopped including it partway through the year
- A stronger yen and higher cargo-handling costs cut profit in the Automotive and Dry Bulk segments
- Energy earned more as tanker rates rose and a new FPSO (a floating oil production vessel) started operating

### Risks

- The company expects container shipping profit to fall as ships keep sailing around the Cape of Good Hope and Middle East tensions push up costs
- Goodwill amortization from buying a European healthcare logistics business is expected to reduce logistics profit
- Assuming Middle East tensions persist, the company expects fewer cars to be shipped

Cited: Annual Securities Report (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)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第139期(2025/04/01－2026/03/31) | S100YBT6 | 2026-06-16 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YBT6,, |
| 有価証券報告書－第138期(2024/04/01－2025/03/31) | S100VY80 | 2025-06-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VY80,, |
| 有価証券報告書－第137期(2023/04/01－2024/03/31) | S100TNM1 | 2024-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TNM1,, |
| 有価証券報告書－第136期(2022/04/01－2023/03/31) | S100R01E | 2023-06-21 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R01E,, |
| 有価証券報告書－第135期(令和3年4月1日－令和4年3月31日) | S100OBUO | 2022-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OBUO,, |
| 有価証券報告書－第134期(令和2年4月1日－令和3年3月31日) | S100LK5W | 2021-06-18 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LK5W,, |

## 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).