# Panasonic Holdings Corporation: business model and financials

> Latest period: FY ending Mar 2026, consolidated, IFRS
> Unit: JPY millions
> Sources: 有価証券報告書－第119期(2025/04/01－2026/03/31) (S100YETA)
> Page: https://vizora.meequs.com/en/company/panasonic-holdings
> Retrieved: 2026-09-30T19:59:59.919Z

## Company

Panasonic, founded in 1918, is a company in Software & SaaS listed on TSE Prime. It has 183,685 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Panasonic Holdings Corporation |
| Ticker | 6752 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/6752.T) |
| Listing | TSE Prime |
| Head office | 大阪府門真市大字門真1006番地 |
| Representative (per filing) | 代表取締役 社長執行役員 楠見雄規 |
| Founded | Mar 1918 |
| Share capital | ¥259.6B |
| Employees (consolidated) | 183,685 |
| Average salary (parent only) | ¥9.9M |
| Fiscal year end | March |
| Website | holdings.panasonic (https://holdings.panasonic/) |
| Corporate number | 5120001158218 |
| EDINET | E01772 |
| Industries (Vizora) | Software & SaaS, PCs & Peripherals, Housing Equipment & Building Materials, Air Conditioning, Batteries, Electronic Components, Home Appliances, TVs, Audio & Musical Instruments |

> Profile source: annual securities report (S100YETA, filed 2026-06-19). As of filing

## Five-axis industry profile

Primary industry: PCs & Peripherals (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 31.8 | 11 |
| Profitability | 46.4 | 14 |
| Cash conversion | 86.4 | 11 |
| Efficiency | 17.9 | 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 16% of Panasonic's sales come from Connect, with Smart Life and Other making up much of the rest.
- Out of every ¥100 of sales, about ¥3 is left as operating profit.
- Revenue changed -4.8% from the prior year, operating profit -44.6%.

## Company structure

- Segment revenue mix: Connect 16.4%、Smart Life 15.5%、Other 14.8%、HVAC and CC 14.3%、Industry 13.9%
- Revenue → net income: ¥8048722000000 → ¥208975000000
- Net income → operating cash flow: ¥208975000000 → ¥624289000000（difference ¥415314000000）
- Main uses of operating cash flow: CapEx ¥696018000000 / dividends ¥112062000000 / buybacks ¥46000000
- Change in cash: ¥-82521000000
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 | ¥8.05T |  |
| Operating income | ¥236.4B | Margin 2.9% |
| Net income | ¥189.5B | Margin 2.4% |
| Free cash flow | -¥71.7B |  |
| Largest business | Connect | of segment revenue 16.4% |
| Employees (consolidated) | 183,685 |  |
| EPS | ¥81.19 |  |
| Diluted EPS | ¥81.17 |  |
| Book value per share | ¥596.43 |  |
| Equity ratio | 51.2% | Derived from disclosed figures |
| Shares outstanding | 2,454,531,000 |  |
| Treasury shares | 134,656,200 |  |
| Shareholders | 312,245 |  |
| Average salary (parent only) | ¥9.9M | Filing company only |
| Cash ratio | 7.6% | Cash ÷ revenue 9.6% |
| Vs. industry median margin | -9.5 pp | Software & SaaS |
| ROE | 3.8% | Derived from disclosed figures |
| ROA | 1.9% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 3.3× net income
- FY2026, parent-company salary changed +30% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥6698794000000 | ¥8048722000000 | +20.2% |
| Operating income | ¥258600000000 | ¥236407000000 | -8.6% |
| Operating margin | 3.9% | 2.9% | -0.9 pp |
| Employees | 243,540 people | 183,685 people | -24.6% |
| Cash and equivalents | ¥1593224000000 | ¥770179000000 | -51.7% |

### 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 |
| --- | ---: |
| コネクト → コネクト | 5.1% |
| アプライアンス → 事業再編・廃止 | 16.6% |
| くらし事業 → 事業再編・廃止 | 23.9% |
| ライフソリューションズ → 事業再編・廃止 | 9.7% |
| コネクティッドソリューションズ → 事業再編・廃止 | 5.2% |
| エナジー → エナジー | 3.7% |
| オートモーティブ → 事業再編・廃止 | 9.5% |
| インダストリー → インダストリー | 6.4% |
| インダストリアルソリューションズ → 事業再編・廃止 | 7.8% |
| オートモーティブ → 事業再編・廃止 | 7.3% |
| その他 → その他 | 4.8% |
| 新設・再編 → コネクト | 11.3% |
| 新設・再編 → エレクトリックワークス | 13.4% |
| 新設・再編 → HVAC ＆ CC | 14.3% |
| 新設・再編 → エナジー | 8.0% |
| 新設・再編 → インダストリー | 7.5% |
| 新設・再編 → スマートライフ | 15.5% |
| 新設・再編 → その他 | 9.9% |

Segment revenue source references: 18 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Connect | 5 years | +13.5% | ¥1320662000000 | 7.6% | 2 |
| Smart Life | — | — | ¥1250161000000 | -3.0% | 2 |
| Other | 5 years | +12.2% | ¥1189240000000 | 4.3% | 2 |
| HVAC and CC | — | — | ¥1149617000000 | 2.0% | 2 |
| Industry | 5 years | +4.7% | ¥1117517000000 | 3.6% | 2 |
| Electric Works | — | — | ¥1080561000000 | 5.3% | 2 |
| Energy | 5 years | +13.2% | ¥940964000000 | 7.4% | 2 |

## Income statement（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 8,048,722 | 100.0% | S100YETA |
| Cost of revenue | 5,521,854 | 68.6% | S100YETA |
| Gross profit | 2,526,868 | 31.4% | S100YETA |
| SG&A | 2,079,425 | 25.8% | S100YETA |
| Operating income | 236,407 | 2.9% | S100YETA |
| Pretax income | 263,109 | 3.3% | S100YETA |
| Income tax | 54,134 | 0.7% | S100YETA |
| Net income | 208,975 | 2.6% | S100YETA |
| Net income attributable to owners | 189,540 | 2.4% | S100YETA |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 68 |
| SG&A | 26 |
| Other operating | 3 |
| Operating income | 3 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 31.4% → Operating margin 2.9% → Net margin 2.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -4.8%; Core profit growth: -44.6%
Operating leverage (core profit growth ÷ revenue growth): 9.21×
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 | 8,458,185 | 8,048,722 | -409,463 | -4.8% |
| Gross profit | 2,628,616 | 2,526,868 | -101,748 | -3.9% |
| Operating income | 426,490 | 236,407 | -190,083 | -44.6% |
| Net income attributable to owners | 366,205 | 189,540 | -176,665 | -48.2% |
| Operating cash flow | 796,083 | 624,289 | -171,794 | -21.6% |
| Free cash flow | -67,287 | -71,729 | -4,442 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 7,343,707 | — | — | 149,360 | 385,410 | — | S100LP1N |
| FY ending Mar 2018 | 7,982,164 | — | — | 236,040 | 423,182 | — | S100ODSS |
| FY ending Mar 2019 | 8,002,733 | — | — | 284,149 | 203,677 | — | S100R44M |
| FY ending Mar 2020 | 7,490,601 | 293,751 | 3.9% | 225,707 | 430,303 | 85,015 | S100LP1N |
| FY ending Mar 2021 | 6,698,794 | 258,600 | 3.9% | 165,077 | 504,038 | 207,611 | S100ODSS |
| FY ending Mar 2022 | 7,388,791 | 357,526 | 4.8% | 255,334 | 252,630 | -45,146 | S100R44M |
| FY ending Mar 2023 | 8,378,942 | 288,570 | 3.4% | 265,502 | 520,742 | 150,856 | S100TQZC |
| FY ending Mar 2024 | 8,496,420 | 360,962 | 4.2% | 443,994 | 866,898 | 219,699 | S100W0F3 |
| FY ending Mar 2025 | 8,458,185 | 426,490 | 5.0% | 366,205 | 796,083 | -67,287 | S100YETA |
| FY ending Mar 2026 | 8,048,722 | 236,407 | 2.9% | 189,540 | 624,289 | -71,729 | S100YETA |

## People and productivity（FY ending Mar 2026, consolidated, IFRS）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥43.8M |
| Operating income per employee (consolidated) | ¥1.3M |
| Net income per employee (consolidated) | ¥1M |

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) | 240,198 | 233,391 | 228,420 | 207,548 | 183,685 |
| Average salary (parent company) | ¥7.6M | ¥9.1M | ¥9.3M | ¥9.6M | ¥9.9M |
| Average age (parent company) | 45.7 years | 43.6 years | 43.7 years | 44.0 years | 44.1 years |
| Average tenure (parent company) | 22.5 years | 18.3 years | 17.9 years | 17.9 years | 18.6 years |

Year over year: Employees (consolidated) -11.5% · Revenue (consolidated) -4.8%

## Segments（FY ending Mar 2026, consolidated, IFRS、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Connect | 1,320,662 | 16.4% | 100,096 | 7.6% |
| Electric Works | 1,080,561 | 13.4% | 57,675 | 5.3% |
| HVAC and CC | 1,149,617 | 14.3% | 23,149 | 2.0% |
| Energy | 940,964 | 11.7% | 69,795 | 7.4% |
| Industry | 1,117,517 | 13.9% | 40,457 | 3.6% |
| Smart Life | 1,250,161 | 15.5% | -37,342 | -3.0% |
| Other | 1,189,240 | 14.8% | 50,857 | 4.3% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Connect | 16.4% | 29.3% | 12.9 | 7.6% |
| Electric Works | 13.4% | 16.9% | 3.4 | 5.3% |
| HVAC and CC | 14.3% | 6.8% | -7.5 | 2.0% |
| Energy | 11.7% | 20.4% | 8.7 | 7.4% |
| Industry | 13.9% | 11.8% | -2.1 | 3.6% |
| Smart Life | 15.5% | — | — | -3.0% |
| Other | 14.8% | 14.9% | 0.1 | 4.3% |

Loss-making segment (excluded from profit shares): Smart Life -37,342 JPY mn

Segment → industry: Connect → Software & SaaS / Connect → PCs & Peripherals / Electric Works → Housing Equipment & Building Materials / HVAC and CC → Air Conditioning / Energy → Batteries / Industry → Electronic Components / Smart Life → Home Appliances / Smart Life → TVs, Audio & Musical Instruments

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, IFRS）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 624,289 | 7.8% | S100YETA |
| Capital expenditure | 696,018 | 8.6% | S100YETA |
| Free cash flow | -71,729 | -0.9% | 算出 |
| Investing cash flow | -607,434 | -7.5% | S100YETA |
| Financing cash flow | -166,847 | -2.1% | S100YETA |
| Dividends paid | 112,062 | 1.4% | S100YETA |
| Share buyback | 46 | 0.0% | S100YETA |
| Change in cash | -82,521 | -1.0% | S100YETA |
| Cash and equivalents | 770,179 | 9.6% | S100YETA |

## 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 | 1,205,873 | 819,499 | 1,119,625 | 847,561 | 770,179 | S100TQZC, S100W0F3, S100YETA |
| Total assets | 8,023,583 | 8,059,527 | 9,411,195 | 9,343,191 | 10,172,412 | S100R44M, S100TQZC, S100W0F3, S100YETA |
| Net assets | 3,347,171 | 3,789,958 | 4,721,903 | 4,874,829 | 5,381,955 | S100TQZC, S100W0F3, S100YETA |
| Share capital | 259,168 | 259,274 | 259,445 | 259,566 | 259,631 | S100R44M, S100TQZC, S100W0F3, S100YETA |
| Property, plant and equipment | 1,115,346 | 1,172,376 | 1,559,041 | 1,902,256 | 2,244,454 | S100R44M, S100TQZC, S100W0F3, S100YETA |
| Goodwill | 994,710 | 1,077,620 | 1,202,522 | 1,268,688 | 1,322,566 | S100R44M, S100TQZC, S100W0F3, S100YETA |
| Current assets | 4,031,197 | 3,802,885 | 4,152,758 | 3,615,479 | 3,879,822 | S100R44M, S100TQZC, S100W0F3, S100YETA |
| Total liabilities | 4,676,412 | 4,269,569 | 4,689,292 | 4,468,362 | 4,790,457 | S100R44M, S100TQZC, S100W0F3, S100YETA |
| Equity attributable to owners of parent | 3,164,962 | 3,618,402 | 4,544,076 | 4,694,421 | 5,211,272 | S100R44M, S100TQZC, S100W0F3, S100YETA |
| Retained earnings | 2,387,283 | 2,588,800 | 3,037,982 | 3,318,079 | 3,404,719 | S100R44M, S100TQZC, S100W0F3, S100YETA |
| Treasury stock | -209,270 | -209,196 | -209,137 | -209,026 | -208,974 | S100R44M, S100TQZC, S100W0F3, S100YETA |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 8% | S100YETA |
| Property, plant and equipment | 22% | S100YETA |
| Intangibles and goodwill | 13% | — |
| Other assets | 57% | S100YETA |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 47% | S100YETA |
| Equity | 53% | S100YETA |

### 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 | 8,023,583 | 8,059,527 | 9,411,195 | 9,343,191 | 10,172,412 |
| Equity | 3,347,171 | 3,789,958 | 4,721,903 | 4,874,829 | 5,381,955 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,205,873 | 819,499 | 1,119,625 | 847,561 | 770,179 |

## 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) | 27.9% | S100YETA |
| Fixed assets ÷ total assets | 22.1% | S100YETA |
| Goodwill ÷ parent equity | 25.4% | S100YETA |

Goodwill over 4 years: 994,710 → 1,322,566 JPY; total investing cash flow: -3,186,385 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) | 7.6% |
| Cash ÷ revenue | 9.6% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 264.1% |
| Cash vs. profit gap | 434,749 JPY mn (of net income 229.4%) |
| Shareholder returns / net income | 59.1% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 59.1% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 8.6% |
| Investing CF relative to operating CF | 97.3% |

## 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 | 3.5% | 0.92× | 3.2% | 2.54× | 8.1% | S100R44M |
| 2023 | 3.2% | 1.04× | 3.3% | 2.37× | 7.8% | S100TQZC |
| 2024 | 5.2% | 0.97× | 5.1% | 2.14× | 10.9% | S100W0F3 |
| 2025 | 4.3% | 0.90× | 3.9% | 2.03× | 7.9% | S100YETA |
| 2026 | 2.4% | 0.82× | 1.9% | 1.97× | 3.8% | S100YETA |

## 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）（注）２ | Major shareholder | 15.1% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口）（注）３ | Major shareholder | 7.5% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001 （常任代理人株式会社みずほ銀行） | Major shareholder | 3.3% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 2.1% | 2026-03-31 |
| MOXLEY & CO LLC （常任代理人株式会社みずほ銀行） | Major shareholder | 2.1% | 2026-03-31 |
| 住友生命保険相互会社 | Major shareholder | 1.6% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781 （常任代理人株式会社みずほ銀行） | Major shareholder | 1.4% | 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 | 1.4% | 2026-03-31 |
| GOVERNMENT OF NORWAY （常任代理人シティバンク、エヌ・ エイ） | Major shareholder | 1.3% | 2026-03-31 |
| 松下不動産株式会社 | Major shareholder | 1.2% | 2026-03-31 |

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

- Revenue for the FY ending Mar 2026 was ¥8.05T, down from ¥8.46T (-4.8%).
- Profit fell much harder: operating income dropped from ¥426.5B to ¥236.4B (-44.6%), and net income from ¥366.2B to ¥189.5B (-48.2%).
- Operating cash flow also shrank, from ¥796.1B to ¥624.3B (-21.6%).

### Drivers

- Revenue fell mainly because the automotive business was deconsolidated in the prior year.
- Higher fixed costs from inflation, more strategic investment and restructuring costs from the group reform weighed on profit.
- In Energy, storage systems for data centers grew, but automotive batteries were hit by US tariffs and higher fixed costs at the new North American plant.
- Smart Life, the appliance unit, posted a loss as demand in China and overseas TV sales dropped and restructuring costs were booked.

### Risks

- Additional US tariffs and other trade measures could raise trade barriers further.
- Slower EV adoption, for example from cuts to EV subsidies, could hurt the automotive battery business.
- Cyberattacks could leak information or halt products and services.

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119期(2025/04/01－2026/03/31) | S100YETA | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YETA,, |
| 有価証券報告書－第118期(2024/04/01－2025/03/31) | S100W0F3 | 2025-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W0F3,, |
| 有価証券報告書－第117期(2023/04/01－2024/03/31) | S100TQZC | 2024-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TQZC,, |
| 有価証券報告書－第116期(2022/04/01－2023/03/31) | S100R44M | 2023-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R44M,, |
| 有価証券報告書－第115期(令和3年4月1日－令和4年3月31日) | S100ODSS | 2022-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100ODSS,, |
| 有価証券報告書－第114期(令和2年4月1日－令和3年3月31日) | S100LP1N | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LP1N,, |

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

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| YKK㈱ | Joint venture | パナソニック ハウジングソリューションズの株式 80% を YKK 側に譲渡し、建築資材・住宅設備事業の共同パートナーに（PHS は持分法適用会社） | S100YETA |
| ミネベアミツミ | Co-development | モーター関連の特許実施許諾（当社が許諾を受ける） | S100YISS |

## 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).