# Rengo 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158期(2025/04/01－2026/03/31) (S100YI9N)
> Page: https://vizora.meequs.com/en/company/rengo
> Retrieved: 2026-09-30T21:18:25.527Z

## Company

Rengo, founded in 1909, is a company in Paper & Pulp listed on TSE Prime. It has 25,573 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Rengo Co., Ltd. |
| Ticker | 3941 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/3941.T) |
| Listing | TSE Prime |
| Head office | 大阪市福島区大開四丁目1番186号(上記の住所は登記上のものであり、実際の業務は下記の場所で行っております。)大阪市北区中之島二丁目2番7号 中之島セントラルタワー |
| Representative (per filing) | 代表取締役社長兼COO 川本 洋祐 |
| Founded | Aug 1909 |
| Share capital | ¥31.1B |
| Employees (consolidated) | 25,573 |
| Average salary (parent only) | ¥8.2M |
| Fiscal year end | March |
| Website | www.rengo.co.jp (https://www.rengo.co.jp/) |
| Corporate number | 1120001036880 |
| EDINET | E00659 |
| Industries (Vizora) | Paper & Pulp, Food Packaging |

> Profile source: annual securities report (S100YI9N, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Paper & Pulp (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 97.1 | 17 |
| Profitability | 50 | 17 |
| Cash conversion | 61.8 | 17 |
| Efficiency | 50 | 17 |
| Financial strength | 30 | 5 |

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 52% of Rengo's sales come from Paperboard and packaging-related business, with Overseas business and Flexible packaging-related business making up much of the rest.
- Out of every ¥100 of sales, about ¥4 is left as operating profit.
- Revenue changed +1.5% from the prior year, operating profit -0.9%.

## Company structure

- Segment revenue mix: Paperboard and packaging-related business 51.8%、Overseas business 20.7%、Flexible packaging-related business 19.0%、Heavy duty packaging-related business 4.6%、Other 3.9%
- Revenue → net income: ¥1008337000000 → ¥23396000000
- Net income → operating cash flow: ¥23396000000 → ¥78164000000（difference ¥54768000000）
- Main uses of operating cash flow: CapEx ¥90852000000 / dividends ¥8734000000 / buybacks ¥1000000
- Change in cash: ¥18837000000
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 | ¥1.01T |  |
| Operating income | ¥37.1B | Margin 3.7% |
| Net income | ¥21B | Margin 2.1% |
| Free cash flow | -¥12.7B |  |
| Largest business | Paperboard and packaging-related business | of segment revenue 51.8% |
| Employees (consolidated) | 25,573 |  |
| EPS | ¥104.08 |  |
| Book value per share | ¥928.84 |  |
| Equity ratio | 37.3% |  |
| Shares outstanding | 271,056,000 |  |
| Treasury shares | 21,779,800 |  |
| Shareholders | 32,212 |  |
| Average salary (parent only) | ¥8.2M | Filing company only |
| Cash ratio | 6.8% | Net cash -¥338.8B · Cash ÷ revenue 8.9% |
| Vs. industry median margin | 0 pp | Paper & Pulp |
| ROE | 5.8% | Derived from disclosed figures |
| ROA | 1.6% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 3.7× net income
- FY2026, one segment accounts for 67% of positive segment profit

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥680714000000 | ¥1008337000000 | +48.1% |
| Operating income | ¥39938000000 | ¥37090000000 | -7.1% |
| Operating margin | 5.9% | 3.7% | -2.2 pp |
| Employees | 19,451 people | 25,573 people | +31.5% |
| Cash and equivalents | ¥50099000000 | ¥89388000000 | +78.4% |

### 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 |
| --- | ---: |
| 板紙・紙加工関連事業 → 板紙・紙加工関連事業 | 51.8% |
| 板紙・紙加工関連事業 → 事業再編・廃止 | 11.8% |
| 軟包装関連事業 → 軟包装関連事業 | 12.2% |
| 重包装関連事業 → 重包装関連事業 | 4.6% |
| 重包装関連事業 → 事業再編・廃止 | 1.8% |
| 海外関連事業 → 海外関連事業 | 12.9% |
| その他 → その他 | 3.9% |
| その他 → 事業再編・廃止 | 1.0% |
| 新設・再編 → 軟包装関連事業 | 6.8% |
| 新設・再編 → 海外関連事業 | 7.8% |

Segment revenue source references: 10 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Paperboard and packaging-related business | 5 years | +3.8% | ¥521869000000 | 4.9% | 2 |
| Overseas business | 5 years | +18.9% | ¥209092000000 | -0.8% | 2 |
| Flexible packaging-related business | 5 years | +18.1% | ¥191529000000 | 4.9% | 2 |
| Heavy duty packaging-related business | 5 years | +1.4% | ¥46419000000 | 4.1% | 2 |
| Other | 5 years | +3.3% | ¥39425000000 | 3.5% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 1,008,337 | 100.0% | S100YI9N |
| Cost of revenue | 820,314 | 81.4% | S100YI9N |
| Gross profit | 188,022 | 18.6% | S100YI9N |
| SG&A | 150,931 | 15.0% | S100YI9N |
| Operating income | 37,090 | 3.7% | S100YI9N |
| Ordinary income | 37,419 | 3.7% | S100YI9N |
| Pretax income | 42,411 | 4.2% | S100YI9N |
| Income tax | 19,014 | 1.9% | S100YI9N |
| Net income | 23,396 | 2.3% | S100YI9N |
| Net income attributable to owners | 21,005 | 2.1% | S100YI9N |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 81 |
| SG&A | 15 |
| Operating income | 4 |
| (Ref.) Net income | 2 |

### Margin funnel

Gross margin 18.6% → Operating margin 3.7% → Net margin 2.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +1.5%; Core profit growth: -0.9%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -0.56×
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 | 993,251 | 1,008,337 | 15,086 | +1.5% |
| Gross profit | 181,790 | 188,022 | 6,232 | +3.4% |
| Operating income | 37,408 | 37,090 | -318 | -0.9% |
| Net income attributable to owners | 28,979 | 21,005 | -7,974 | -27.5% |
| Operating cash flow | 77,008 | 78,164 | 1,156 | +1.5% |
| Free cash flow | -21,300 | -12,688 | 8,612 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 683,780 | 41,227 | 6.0% | 27,790 | 61,079 | 23,236 | S100LIS5 |
| FY ending Mar 2021 | 680,714 | 39,938 | 5.9% | 28,599 | 66,000 | 24,992 | S100PQOK |
| FY ending Mar 2022 | 746,926 | 33,279 | 4.5% | 28,188 | 57,893 | 9,938 | S100R69D |
| FY ending Mar 2023 | 846,080 | 25,957 | 3.1% | 20,425 | 46,066 | 1,871 | S100TURF |
| FY ending Mar 2024 | 900,791 | 48,855 | 5.4% | 33,025 | 89,628 | 24,593 | S100W81U |
| FY ending Mar 2025 | 993,251 | 37,408 | 3.8% | 28,979 | 77,008 | -21,300 | S100YI9N |
| FY ending Mar 2026 | 1,008,337 | 37,090 | 3.7% | 21,005 | 78,164 | -12,688 | S100YI9N |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥39.4M |
| Operating income per employee (consolidated) | ¥1.5M |
| Net income per employee (consolidated) | ¥821.4K |

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) | 20,141 | 22,548 | 23,389 | 25,011 | 25,573 |
| Average salary (parent company) | ¥7.3M | ¥7.3M | ¥7.5M | ¥7.8M | ¥8.2M |
| Average age (parent company) | 40.9 years | 41.3 years | 41.7 years | 41.9 years | 42.1 years |
| Average tenure (parent company) | 15.7 years | 16.1 years | 16.4 years | 16.6 years | 16.8 years |

Year over year: Employees (consolidated) +2.2% · Revenue (consolidated) +1.5%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Paperboard and packaging-related business | 521,869 | 51.8% | 25,676 | 4.9% |
| Flexible packaging-related business | 191,529 | 19.0% | 9,372 | 4.9% |
| Heavy duty packaging-related business | 46,419 | 4.6% | 1,897 | 4.1% |
| Overseas business | 209,092 | 20.7% | -1,628 | -0.8% |
| Other | 39,425 | 3.9% | 1,367 | 3.5% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Paperboard and packaging-related business | 51.8% | 67.0% | 15.3 | 4.9% |
| Flexible packaging-related business | 19.0% | 24.5% | 5.5 | 4.9% |
| Heavy duty packaging-related business | 4.6% | 5.0% | 0.3 | 4.1% |
| Overseas business | 20.7% | — | — | -0.8% |
| Other | 3.9% | 3.6% | -0.3 | 3.5% |

Loss-making segment (excluded from profit shares): Overseas business -1,628 JPY mn

Segment → industry: Overseas business → Paper & Pulp / Paperboard and packaging-related business → Paper & Pulp / Overseas business → Food Packaging / Heavy duty packaging-related business → Food Packaging / Flexible packaging-related business → Food Packaging

## 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 | 78,164 | 7.8% | S100YI9N |
| Capital expenditure | 90,852 | 9.0% | S100YI9N |
| Free cash flow | -12,688 | -1.3% | 算出 |
| Investing cash flow | -70,739 | -7.0% | S100YI9N |
| Financing cash flow | 8,769 | 0.9% | S100YI9N |
| Dividends paid | 8,734 | 0.9% | S100YI9N |
| Share buyback | 1 | 0.0% | S100YI9N |
| Change in cash | 18,837 | 1.9% | S100YI9N |
| Cash and equivalents | 89,388 | 8.9% | S100YI9N |

## 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 | 57,835 | 70,912 | 103,782 | 70,551 | 89,388 | S100TURF, S100W81U, S100YI9N |
| Total assets | 934,345 | 1,053,138 | 1,172,515 | 1,243,116 | 1,313,086 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Net assets | 354,289 | 385,732 | 438,978 | 500,244 | 528,554 | S100TURF, S100W81U, S100YI9N |
| Share capital | 31,066 | 31,066 | 31,066 | 31,066 | 31,066 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Trade receivables | 214,656 | 242,862 | 271,408 | 270,404 | 282,531 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Property, plant and equipment | 384,032 | 422,964 | 456,467 | 526,116 | 559,574 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Intangible assets excluding goodwill | 34,915 | 48,480 | 48,408 | 47,698 | 37,557 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Goodwill | 18,806 | 27,215 | 27,075 | 26,751 | 17,829 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Investment securities | 139,366 | 138,850 | 151,144 | 156,961 | 167,241 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Current assets | 350,213 | 413,564 | 484,196 | 469,481 | 500,111 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Current liabilities | 310,802 | 368,231 | 392,280 | 411,479 | 438,599 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Trade payables | 129,484 | 143,950 | 152,857 | 155,252 | 147,709 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Short-term borrowings | 114,096 | 134,539 | 131,820 | 157,722 | 152,747 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Long-term borrowings | 143,641 | 162,774 | 188,061 | 174,717 | 180,302 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Bonds | 80,000 | 80,065 | 95,055 | 95,000 | 95,100 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Interest-bearing debt | 337,737 | 377,378 | 414,936 | 427,439 | 428,149 | 算出 |
| Total liabilities | 580,056 | 667,405 | 733,537 | 742,872 | 784,531 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Non-controlling interests | 12,379 | 12,937 | 13,684 | 36,276 | 39,254 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Equity attributable to owners of parent | 290,392 | 305,174 | 331,801 | 354,065 | 366,705 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Retained earnings | 238,185 | 252,677 | 279,627 | 300,680 | 312,904 | S100R69D, S100TURF, S100W81U, S100YI9N |
| Treasury stock | -12,218 | -12,167 | -12,556 | -12,457 | -12,260 | S100R69D, S100TURF, S100W81U, S100YI9N |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 7% | S100YI9N |
| Receivables | 21% | S100YI9N |
| Property, plant and equipment | 43% | S100YI9N |
| Intangibles and goodwill | 4% | S100YI9N |
| Investment securities | 13% | S100YI9N |
| Other assets | 12% | S100YI9N |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 11% | S100YI9N |
| Interest-bearing debt | 33% | 算出 |
| Other liabilities | 16% | S100YI9N |
| Equity | 40% | S100YI9N |
| Other liabilities | 0% | S100YI9N |

### 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 | 934,345 | 1,053,138 | 1,172,515 | 1,243,116 | 1,313,086 |
| Equity | 354,289 | 385,732 | 438,978 | 500,244 | 528,554 |
| Interest-bearing debt | 337,737 | 377,378 | 414,936 | 427,439 | 428,149 |
| Cash | 57,835 | 70,912 | 103,782 | 70,551 | 89,388 |

## 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) | 55.5% | S100YI9N |
| Fixed assets ÷ total assets | 42.6% | S100YI9N |
| Goodwill ÷ parent equity | 4.9% | S100YI9N |

Goodwill over 4 years: 18,806 → 17,829 JPY; total investing cash flow: -359,381 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) | 6.8% |
| Cash ÷ revenue | 8.9% |
| Net cash (cash − interest-bearing debt) | -¥338.8B |
| Net debt ÷ operating cash flow | 4.33× |
| Cash conversion (operating CF ÷ operating income) | 210.7% |
| Cash vs. profit gap | 57,159 JPY mn (of net income 272.1%) |
| Shareholder returns / net income | 41.6% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 41.6% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 9.0% |
| Investing CF relative to operating CF | 90.5% |

## 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 | 3.8% | 0.80× | 3.0% | 3.22× | 9.7% | S100R69D |
| 2023 | 2.4% | 0.85× | 2.1% | 3.34× | 6.9% | S100TURF |
| 2024 | 3.7% | 0.81× | 3.0% | 3.49× | 10.4% | S100W81U |
| 2025 | 2.9% | 0.82× | 2.4% | 3.52× | 8.5% | S100YI9N |
| 2026 | 2.1% | 0.79× | 1.6% | 3.55× | 5.8% | S100YI9N |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ㈱日本カストディ銀行 | Major shareholder | 12.6% | 2026-03-31 |
| 日本マスタートラスト信託銀行㈱ | Major shareholder | 11.0% | 2026-03-31 |
| ㈱三井住友銀行 | Major shareholder | 3.8% | 2026-03-31 |
| 野村 絢(常任代理人 三田証券㈱) | Major shareholder | 3.5% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505223(常任代理人 ㈱みずほ銀行決済営業部) | Major shareholder | 3.0% | 2026-03-31 |
| 住友生命保険(相) | Major shareholder | 2.7% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505103(常任代理人 ㈱みずほ銀行決済営業部) | Major shareholder | 2.1% | 2026-03-31 |
| 農林中央金庫 | Major shareholder | 2.1% | 2026-03-31 |
| レンゴー社員持株会 | Major shareholder | 1.9% | 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 |

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

- Revenue for the FY ending Mar 2026 reached ¥1.01T, up +1.5% from ¥993.3B.
- Operating income was roughly flat at ¥37.1B, down -0.9%.
- Net income attributable to owners dropped -27.5% to ¥21B.
- Operating cash flow grew to ¥78.2B, but capital spending was larger, so free cash flow stayed negative at -¥12.7B.

### Drivers

- Price increases for containerboard, corrugated boxes, cartons and flexible packaging lifted sales
- The flexible packaging business also sold more volume
- The overseas business swung to an operating loss as heavy-duty corrugated margins fell with the slump in Europe's auto industry
- An impairment loss related to Tricor in Germany was booked as an extraordinary loss

### Risks

- The conflict in the Middle East has made the economic outlook less certain
- Logistics and labor costs keep rising
- Weak demand from Europe's auto industry is hurting heavy-duty corrugated packaging

Cited: Annual Securities Report, 158th 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)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第158期(2025/04/01－2026/03/31) | S100YI9N | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YI9N,, |
| 訂正有価証券報告書－第157期(2024/04/01－2025/03/31) | S100W81U | 2025-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W81U,, |
| 有価証券報告書－第156期(2023/04/01－2024/03/31) | S100TURF | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TURF,, |
| 有価証券報告書－第155期(2022/04/01－2023/03/31) | S100R69D | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R69D,, |
| 訂正有価証券報告書－第154期(令和3年4月1日－令和4年3月31日) | S100PQOK | 2022-12-06 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100PQOK,, |
| 有価証券報告書－第153期(令和2年4月1日－令和3年3月31日) | S100LIS5 | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LIS5,, |

## 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).