# Shin-Etsu Chemical 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149期(2025/04/01－2026/03/31) (S100YE9I)
> Page: https://vizora.meequs.com/en/company/shin-etsu-chemical
> Retrieved: 2026-09-30T17:52:27.200Z

## Company

Shin-Etsu Chemical is a company in Chemicals listed on TSE Prime. It has 27,342 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Shin-Etsu Chemical Co., Ltd. |
| Ticker | 4063 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4063.T) |
| Listing | TSE Prime |
| Head office | 東京都千代田区丸の内一丁目4番1号 |
| Representative (per filing) | 代表取締役社長 斉藤 恭彦 |
| Share capital | ¥119.4B |
| Employees (consolidated) | 27,342 |
| Average salary (parent only) | ¥9M |
| Fiscal year end | March |
| Website | www.shinetsu.co.jp (https://www.shinetsu.co.jp/) |
| Corporate number | 5010001008680 |
| EDINET | E00776 |
| Industries (Vizora) | Chemicals, Semiconductor Materials |

> Profile source: annual securities report (S100YE9I, filed 2026-06-19). As of filing

## Five-axis industry profile

Primary industry: Semiconductor Materials (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 80.4 | 23 |
| Profitability | 89.6 | 24 |
| Cash conversion | 43.8 | 24 |
| Efficiency | 18.8 | 24 |

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 39% of Shin-Etsu Chemical's sales come from Electronics Materials, with Infrastructure Materials and Functional Materials making up much of the rest.
- Out of every ¥100 of sales, about ¥25 is left as operating profit.
- Revenue changed +0.5% from the prior year, operating profit -14.4%.

## Company structure

- Segment revenue mix: Electronics Materials 39.5%、Infrastructure Materials 38.1%、Functional Materials 17.1%、Proccessing, Trading and Specialized Service Business 5.3%
- Revenue → net income: ¥2573969000000 → ¥506289000000
- Net income → operating cash flow: ¥506289000000 → ¥712651000000（difference ¥206362000000）
- Main uses of operating cash flow: CapEx ¥355950000000 / dividends ¥203162000000 / buybacks ¥500006000000
- Change in cash: ¥-320646000000
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 | ¥2.57T |  |
| Operating income | ¥635.2B | Margin 24.7% |
| Net income | ¥474.5B | Margin 18.4% |
| Free cash flow | ¥356.7B |  |
| Largest business | Electronics Materials | of segment revenue 39.5% |
| Employees (consolidated) | 27,342 |  |
| EPS | ¥377.34 |  |
| Diluted EPS | ¥377.11 |  |
| Book value per share | ¥598.95 |  |
| Equity ratio | 78.7% |  |
| Shares outstanding | 1,984,995,000 |  |
| Treasury shares | 128,324,800 |  |
| Shareholders | 215,871 |  |
| Average salary (parent only) | ¥9M | Filing company only |
| Cash ratio | 9.9% | Cash ÷ revenue 21.8% |
| Vs. industry median margin | +9.9 pp | Semiconductor Materials |
| ROE | 12.6% | Derived from disclosed figures |
| ROA | 8.4% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 2.5× dividends
- FY2026, operating income keeps 25 per ¥100 of revenue

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1496906000000 | ¥2573969000000 | +72.0% |
| Operating income | ¥392213000000 | ¥635204000000 | +62.0% |
| Operating margin | 26.2% | 24.7% | -1.5 pp |
| Employees | 24,069 people | 27,342 people | +13.6% |
| Cash and equivalents | ¥801596000000 | ¥562089000000 | -29.9% |

### 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 |
| --- | ---: |
| 電子材料事業 → 電子材料事業 | 20.6% |
| 塩ビ・化成品事業 → 事業再編・廃止 | 16.2% |
| 生活環境基盤材料事業 → 生活環境基盤材料事業 | 16.8% |
| シリコーン事業 → 事業再編・廃止 | 7.2% |
| 機能材料事業 → 機能材料事業 | 10.8% |
| 機能性化学品事業 → 事業再編・廃止 | 3.9% |
| 加工・商事・技術サービス事業 → 加工・商事・技術サービス事業 | 3.5% |
| 半導体シリコン事業 → 事業再編・廃止 | 12.9% |
| 電子・機能材料事業 → 事業再編・廃止 | 8.1% |
| 新設・再編 → 電子材料事業 | 18.9% |
| 新設・再編 → 生活環境基盤材料事業 | 21.4% |
| 新設・再編 → 機能材料事業 | 6.3% |
| 新設・再編 → 加工・商事・技術サービス事業 | 1.8% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Electronics Materials | 5 years | +11.3% | ¥1015765000000 | 33.9% | 2 |
| Infrastructure Materials | 5 years | +15.1% | ¥981370000000 | 16.8% | 2 |
| Functional Materials | 5 years | +7.0% | ¥440847000000 | 22.9% | 2 |
| Proccessing, Trading and Specialized Service Business | 5 years | +6.1% | ¥135985000000 | 20.1% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 2,573,969 | 100.0% | S100YE9I |
| Cost of revenue | 1,693,175 | 65.8% | S100YE9I |
| Gross profit | 880,793 | 34.2% | S100YE9I |
| SG&A | 245,588 | 9.5% | S100YE9I |
| Operating income | 635,204 | 24.7% | S100YE9I |
| Ordinary income | 708,281 | 27.5% | S100YE9I |
| Pretax income | 708,488 | 27.5% | S100YE9I |
| Income tax | 202,198 | 7.9% | S100YE9I |
| Net income | 506,289 | 19.7% | S100YE9I |
| Net income attributable to owners | 474,459 | 18.4% | S100YE9I |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 66 |
| SG&A | 9 |
| Operating income | 25 |
| (Ref.) Net income | 18 |

### Margin funnel

Gross margin 34.2% → Operating margin 24.7% → Net margin 18.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +0.5%; Core profit growth: -14.4%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -29.01×
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 | 2,561,249 | 2,573,969 | 12,720 | +0.5% |
| Gross profit | 984,121 | 880,793 | -103,328 | -10.5% |
| Operating income | 742,105 | 635,204 | -106,901 | -14.4% |
| Net income attributable to owners | 534,021 | 474,459 | -59,562 | -11.2% |
| Operating cash flow | 881,934 | 712,651 | -169,283 | -19.2% |
| Free cash flow | 439,097 | 356,701 | -82,396 | -18.8% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 1,543,525 | 406,041 | 26.3% | 314,027 | 412,384 | 142,956 | S100LV8Y |
| FY ending Mar 2021 | 1,496,906 | 392,213 | 26.2% | 293,732 | 401,176 | 163,804 | S100OOKO |
| FY ending Mar 2022 | 2,074,428 | 676,322 | 32.6% | 500,117 | 553,528 | 355,972 | S100R9Y6 |
| FY ending Mar 2023 | 2,808,824 | 998,202 | 35.5% | 708,238 | 788,013 | 488,646 | S100TO0V |
| FY ending Mar 2024 | 2,414,937 | 701,038 | 29.0% | 520,140 | 755,183 | 377,705 | S100W0RG |
| FY ending Mar 2025 | 2,561,249 | 742,105 | 29.0% | 534,021 | 881,934 | 439,097 | S100YE9I |
| FY ending Mar 2026 | 2,573,969 | 635,204 | 24.7% | 474,459 | 712,651 | 356,701 | S100YE9I |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥94.1M |
| Operating income per employee (consolidated) | ¥23.2M |
| Net income per employee (consolidated) | ¥17.4M |

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) | 24,954 | 25,717 | 26,004 | 27,274 | 27,342 |
| Average salary (parent company) | ¥8.5M | ¥8.8M | ¥8.9M | ¥8.8M | ¥9M |
| Average age (parent company) | 42.2 years | 42.2 years | 41.9 years | 41.3 years | 40.8 years |
| Average tenure (parent company) | 20.3 years | 20.3 years | 20.1 years | 19.2 years | 18.8 years |

Year over year: Employees (consolidated) +0.2% · Revenue (consolidated) +0.5%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Electronics Materials | 1,015,765 | 39.5% | 344,537 | 33.9% |
| Infrastructure Materials | 981,370 | 38.1% | 164,890 | 16.8% |
| Functional Materials | 440,847 | 17.1% | 100,955 | 22.9% |
| Proccessing, Trading and Specialized Service Business | 135,985 | 5.3% | 27,338 | 20.1% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Electronics Materials | 39.5% | 54.0% | 14.6 | 33.9% |
| Infrastructure Materials | 38.1% | 25.9% | -12.3 | 16.8% |
| Functional Materials | 17.1% | 15.8% | -1.3 | 22.9% |
| Proccessing, Trading and Specialized Service Business | 5.3% | 4.3% | -1.0 | 20.1% |

Segment → industry: Proccessing, Trading and Specialized Service Business → Chemicals / Functional Materials → Chemicals / Infrastructure Materials → Chemicals / Electronics Materials → Semiconductor Materials

## 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 | 712,651 | 27.7% | S100YE9I |
| Capital expenditure | 355,950 | 13.8% | S100YE9I |
| Free cash flow | 356,701 | 13.9% | 算出 |
| Investing cash flow | -544,806 | -21.2% | S100YE9I |
| Financing cash flow | -504,835 | -19.6% | S100YE9I |
| Dividends paid | 203,162 | 7.9% | S100YE9I |
| Share buyback | 500,006 | 19.4% | S100YE9I |
| Change in cash | -320,646 | -12.5% | S100YE9I |
| Cash and equivalents | 562,089 | 21.8% | S100YE9I |

## 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 | 1,008,925 | 1,247,344 | 590,135 | 882,736 | 562,089 | S100TO0V, S100W0RG, S100YE9I |
| Total assets | 4,053,412 | 4,730,394 | 5,147,974 | 5,636,601 | 5,661,907 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Net assets | 3,429,208 | 4,026,209 | 4,424,073 | 4,837,585 | 4,643,307 | S100TO0V, S100W0RG, S100YE9I |
| Share capital | 119,419 | 119,419 | 119,419 | 119,419 | 119,419 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Property, plant and equipment | 1,290,165 | 1,518,190 | 1,746,577 | 2,065,945 | 2,153,287 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Intangible assets excluding goodwill | 10,535 | 10,351 | 10,195 | 36,908 | 34,695 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Goodwill | 4,199 | 2,187 | 1,449 | 27,431 | 25,576 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Investment securities | 161,338 | 171,110 | 183,758 | 134,632 | 151,829 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Current assets | 2,437,975 | 2,863,524 | 3,036,509 | 3,209,652 | 3,106,055 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Current liabilities | 477,759 | 507,810 | 520,395 | 537,094 | 522,631 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Trade payables | 177,682 | 185,006 | 161,364 | 184,369 | 176,399 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Short-term borrowings | 13,461 | 10,998 | 10,386 | 9,389 | 6,929 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Long-term borrowings | 16,940 | 18,812 | 13,913 | 7,452 | 236,366 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Total liabilities | 624,204 | 704,185 | 723,901 | 799,016 | 1,018,600 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Non-controlling interests | 99,910 | 151,999 | 161,308 | 175,112 | 178,877 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Equity attributable to owners of parent | 3,225,834 | 3,535,053 | 3,743,377 | 3,879,362 | 3,655,570 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Retained earnings | 2,993,026 | 3,310,205 | 3,520,355 | 3,755,274 | 4,022,591 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |
| Treasury stock | -15,702 | -22,891 | -24,292 | -121,025 | -612,696 | S100R9Y6, S100TO0V, S100W0RG, S100YE9I |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 10% | S100YE9I |
| Property, plant and equipment | 38% | S100YE9I |
| Intangibles and goodwill | 1% | S100YE9I |
| Investment securities | 3% | S100YE9I |
| Other assets | 48% | S100YE9I |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 3% | S100YE9I |
| Other liabilities | 15% | S100YE9I |
| Equity | 82% | S100YE9I |

### 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 | 4,053,412 | 4,730,394 | 5,147,974 | 5,636,601 | 5,661,907 |
| Equity | 3,429,208 | 4,026,209 | 4,424,073 | 4,837,585 | 4,643,307 |
| Interest-bearing debt | — | — | — | — | — |
| Cash | 1,008,925 | 1,247,344 | 590,135 | 882,736 | 562,089 |

## 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) | 83.7% | S100YE9I |
| Fixed assets ÷ total assets | 38.0% | S100YE9I |
| Goodwill ÷ parent equity | 0.7% | S100YE9I |

Goodwill over 4 years: 4,199 → 25,576 JPY; total investing cash flow: -2,226,778 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) | 9.9% |
| Cash ÷ revenue | 21.8% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | 112.2% |
| Cash vs. profit gap | 238,192 JPY mn (of net income 50.2%) |
| Shareholder returns / net income | 148.2% |
| Shareholder returns / FCF | 197.1% |
| Shareholder payments — dividends / net income | 42.8% |
| Shareholder payments — dividends / FCF | 57.0% |
| CapEx intensity (capex ÷ revenue) | 13.8% |
| Investing CF relative to operating CF | 76.4% |

## 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 | 24.1% | 0.51× | 12.3% | 1.26× | 15.5% | S100R9Y6 |
| 2023 | 25.2% | 0.64× | 16.1% | 1.30× | 21.0% | S100TO0V |
| 2024 | 21.5% | 0.49× | 10.5% | 1.36× | 14.3% | S100W0RG |
| 2025 | 20.9% | 0.47× | 9.9% | 1.41× | 14.0% | S100YE9I |
| 2026 | 18.4% | 0.46× | 8.4% | 1.50× | 12.6% | S100YE9I |

## 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 | 18.2% | 2026-03-31 |
| ㈱日本カストディ銀行（信託口） | Major shareholder | 7.2% | 2026-03-31 |
| 日本生命保険相互会社 （常任代理人 日本マスタートラスト信託銀行㈱） | Major shareholder | 4.1% | 2026-03-31 |
| ㈱八十二長野銀行 （常任代理人 日本マスタートラスト信託銀行㈱） | Major shareholder | 3.0% | 2026-03-31 |
| THE CHASE MANHATTAN BANK, N. A. LONDONSECS LENDING OMNIBUS ACCOUNT （常任代理人 ㈱みずほ銀行決済営業部） | Major shareholder | 3.0% | 2026-03-31 |
| 明治安田生命保険相互会社 （常任代理人 ㈱日本カストディ銀行） | Major shareholder | 2.9% | 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 | 2.6% | 2026-03-31 |
| GOVERNMENT OF NORWAY （常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 2.0% | 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 | 1.7% | 2026-03-31 |
| JP MORGAN CHASE BANK 385642 （常任代理人 ㈱みずほ銀行決済営業部） | Major shareholder | 1.6% | 2026-03-31 |

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

- Revenue for the FY ending Mar 2026 was ¥2.57T, almost unchanged at +0.5%.
- Profit fell across the board: gross profit was down 10.5%, operating income down 14.4% to ¥635.2B, and net income down 11.2% to ¥474.5B.
- Operating cash flow also dropped 19.2% to ¥712.7B.

### Drivers

- PVC demand in North America softened in the second half of the year and prices stayed weak in Asia and other markets, cutting profit in Infrastructure Materials
- AI-related chip demand stayed strong and other chip markets finally picked up, so sales of silicon wafers, photoresists and photomask blanks grew
- In Functional Materials, the company says its push to sell more high-performance products is starting to show in earnings

### Risks

- Some key products swing sharply in price with global supply and demand, so weaker demand or price competition can hit results
- Most sales are overseas, so currency moves matter
- The company expects heavy exports from China to keep pressing several markets, and the war in the Middle East has pushed up raw material and energy costs

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149期(2025/04/01－2026/03/31) | S100YE9I | 2026-06-19 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YE9I,, |
| 有価証券報告書－第148期(2024/04/01－2025/03/31) | S100W0RG | 2025-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W0RG,, |
| 有価証券報告書－第147期(2023/04/01－2024/03/31) | S100TO0V | 2024-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TO0V,, |
| 有価証券報告書－第146期(2022/04/01－2023/03/31) | S100R9Y6 | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R9Y6,, |
| 訂正有価証券報告書－第145期(令和3年4月1日－令和4年3月31日) | S100OOKO | 2022-07-07 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OOKO,, |
| 有価証券報告書－第144期(令和2年4月1日－令和3年3月31日) | S100LV8Y | 2021-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LV8Y,, |

## 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).