RengoRengo Co., Ltd.3941東証プライムパルプ・紙FY ending Mar 2026, consolidated, J-GAAP

Rengo FY ending Mar 2026 results

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%.

Revenue and profit pattern

Revenue up, profit downRevenue grew faster

Revenue +1.5% · profit -0.9%, calculated from disclosed figures.

Operating leverage: -0.56× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue: +1.5%¥993.3B → ¥1.01T
Gross profit: +3.4%¥181.8B → ¥188B
Operating income: -0.9%¥37.4B → ¥37.1B
Net income attributable to owners: -27.5%¥29B → ¥21B
Operating cash flow: +1.5%¥77B → ¥78.2B
Free cash flow: Loss-¥21.3B → -¥12.7B

Results at a glance

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.

What drove the change

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

Things to watch

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

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

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

For every ¥100 Rengo sells, how much goes where, and how much is kept.

FY ending Mar 2026

Cost of sales: ¥81
SG&A: ¥15
Operating profit: ¥4
Net profit kept: ¥2

Annual margin trends

Gross margin18.6%

Operating margin3.7%

Net margin2.1%

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Paperboard and packaging-related business¥521.9B
52%
Op. margin 4.9%Industry: Paper & Pulp
Overseas business¥209.1B
21%
Op. margin -0.8%Industry: Food Packaging
Flexible packaging-related business¥191.5B
19%
Op. margin 4.9%Industry: Food Packaging
Heavy duty packaging-related business¥46.4B
5%
Op. margin 4.1%Industry: Food Packaging
Other¥39.4B
4%
Op. margin 3.5%

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

EDINET (FSA Japan)
有価証券報告書－第158期(2025/04/01－2026/03/31)
ID S100YI9N2026-06-25Open
EDINET (FSA Japan)
訂正有価証券報告書－第157期(2024/04/01－2025/03/31)
ID S100W81U2025-06-27Open
EDINET (FSA Japan)
有価証券報告書－第156期(2023/04/01－2024/03/31)
ID S100TURF2024-06-28Open
EDINET (FSA Japan)
有価証券報告書－第155期(2022/04/01－2023/03/31)
ID S100R69D2023-06-30Open
EDINET (FSA Japan)
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)
ID S100PQOK2022-12-06Open
EDINET (FSA Japan)
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)
ID S100LIS52021-06-30Open

Extracted from XBRL: 56 / Derived from other figures: 2

Spotted an error? Report it (corrections keep the original record)

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