# TAKARA HOLDINGS INC.: 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115期(2025/04/01－2026/03/31) (S100YINV)
> Page: https://vizora.meequs.com/en/company/takara-holdings
> Retrieved: 2026-09-30T21:11:03.432Z

## Company

Takara Holdings, founded in 1925, is a company in Alcoholic Beverages listed on TSE Prime. It has 5,720 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TAKARA HOLDINGS INC. |
| Ticker | 2531 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/2531.T) |
| Listing | TSE Prime |
| Head office | 京都市下京区四条通烏丸東入長刀鉾町20番地 |
| Representative (per filing) | 代表取締役社長 木村 睦 |
| Founded | Sep 1925 |
| Share capital | ¥13.2B |
| Employees (consolidated) | 5,720 |
| Average salary (parent only) | ¥7.6M |
| Fiscal year end | March |
| Website | www.takara.co.jp (https://www.takara.co.jp/) |
| Corporate number | 4130001014981 |
| EDINET | E00396 |
| Industries (Vizora) | Alcoholic Beverages, Specialty Trading & Wholesale, CRO & Clinical Testing, Biotech & Regenerative Medicine |

> Profile source: annual securities report (S100YINV, filed 2026-06-25). As of filing

## Five-axis industry profile

Primary industry: Alcoholic Beverages (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 64.3 | 7 |
| Profitability | 7.1 | 7 |
| Cash conversion | 50 | 7 |
| Efficiency | 78.6 | 7 |

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 56% of Takara Holdings's sales come from Takara Shuzo International Group, with Takara Shuzo and Takara Bio Group making up much of the rest.
- Out of every ¥100 of sales, about ¥4 is left as operating profit.
- Revenue changed +8.7% from the prior year, operating profit -17.1%.

## Company structure

- Segment revenue mix: Takara Shuzo International Group 56.2%、Takara Shuzo 29.9%、Takara Bio Group 10.2%、Other 3.7%
- Revenue → net income: ¥394316000000 → ¥8478000000
- Net income → operating cash flow: ¥8478000000 → ¥17318000000（difference ¥8840000000）
- Main uses of operating cash flow: CapEx ¥22167000000 / dividends ¥6054000000 / buybacks ¥3000000000
- Change in cash: ¥-6204000000
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 | ¥394.3B |  |
| Operating income | ¥17.1B | Margin 4.3% |
| Net income | ¥11.7B | Margin 3.0% |
| Free cash flow | -¥4.85B |  |
| Largest business | Takara Shuzo International Group | of segment revenue 56.2% |
| Employees (consolidated) | 5,720 |  |
| EPS | ¥48.64 |  |
| Book value per share | ¥438.55 |  |
| Equity ratio | 50.5% |  |
| Shares outstanding | 197,252,000 |  |
| Treasury shares | 4,378,200 |  |
| Shareholders | 74,444 |  |
| Average salary (parent only) | ¥7.6M | Filing company only |
| Cash ratio | 13.5% | Net cash ¥12.3B · Cash ÷ revenue 17.5% |
| Vs. industry median margin | -2.1 pp | Alcoholic Beverages |
| ROE | 6.0% | Derived from disclosed figures |
| ROA | 2.4% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 61% of positive segment profit

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥278443000000 | ¥394316000000 | +41.6% |
| Operating income | ¥21595000000 | ¥17076000000 | -20.9% |
| Operating margin | 7.8% | 4.3% | -3.4 pp |
| Employees | 4,748 people | 5,720 people | +20.5% |
| Cash and equivalents | ¥62860000000 | ¥69125000000 | +10.0% |

### 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 |
| --- | ---: |
| 宝酒造 → 宝酒造 | 29.9% |
| 宝酒造 → 事業再編・廃止 | 24.6% |
| 宝酒造インターナショナルグループ → 宝酒造インターナショナルグループ | 24.9% |
| タカラバイオグループ → タカラバイオグループ | 10.2% |
| タカラバイオグループ → 事業再編・廃止 | 6.3% |
| その他 → その他 | 3.7% |
| その他 → 事業再編・廃止 | 0.3% |
| 新設・再編 → 宝酒造インターナショナルグループ | 31.3% |

Segment revenue source references: 8 (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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Takara Shuzo International Group | 5 years | +26.1% | ¥221549000000 | 6.4% | 2 |
| Takara Shuzo | 5 years | -4.9% | ¥118032000000 | 4.9% | 2 |
| Takara Bio Group | 5 years | -2.6% | ¥40317000000 | -11.6% | 2 |
| Other | 5 years | +5.5% | ¥14416000000 | 23.3% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 394,316 | 100.0% | S100YINV |
| Cost of revenue | 266,620 | 67.6% | S100YINV |
| Gross profit | 127,696 | 32.4% | S100YINV |
| SG&A | 110,619 | 28.1% | S100YINV |
| Operating income | 17,076 | 4.3% | S100YINV |
| Ordinary income | 16,861 | 4.3% | S100YINV |
| Pretax income | 18,270 | 4.6% | S100YINV |
| Income tax | 9,791 | 2.5% | S100YINV |
| Net income | 8,478 | 2.2% | S100YINV |
| Net income attributable to owners | 11,696 | 3.0% | S100YINV |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 68 |
| SG&A | 28 |
| Operating income | 4 |
| (Ref.) Net income | 3 |

### Margin funnel

Gross margin 32.4% → Operating margin 4.3% → Net margin 3.0%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +8.7%; Core profit growth: -17.1%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -1.96×
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 | 362,693 | 394,316 | 31,623 | +8.7% |
| Gross profit | 119,647 | 127,696 | 8,049 | +6.7% |
| Operating income | 20,597 | 17,076 | -3,521 | -17.1% |
| Net income attributable to owners | 16,202 | 11,696 | -4,506 | -27.8% |
| Operating cash flow | 16,155 | 17,318 | 1,163 | +7.2% |
| Free cash flow | -3,988 | -4,849 | -861 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 281,191 | 15,836 | 5.6% | 8,980 | 11,744 | -377 | S100LNLN |
| FY ending Mar 2021 | 278,443 | 21,595 | 7.8% | 10,574 | 27,100 | 13,189 | S100OHEJ |
| FY ending Mar 2022 | 300,918 | 43,354 | 14.4% | 20,769 | 16,376 | 1,614 | S100QZAK |
| FY ending Mar 2023 | 350,665 | 37,945 | 10.8% | 21,206 | 45,478 | 34,860 | S100TP2Z |
| FY ending Mar 2024 | 339,372 | 22,242 | 6.6% | 16,176 | 29,178 | 9,968 | S100W0VY |
| FY ending Mar 2025 | 362,693 | 20,597 | 5.7% | 16,202 | 16,155 | -3,988 | S100YINV |
| FY ending Mar 2026 | 394,316 | 17,076 | 4.3% | 11,696 | 17,318 | -4,849 | S100YINV |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥68.9M |
| Operating income per employee (consolidated) | ¥3M |
| Net income per employee (consolidated) | ¥2M |

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) | 4,934 | 5,171 | 5,492 | 5,729 | 5,720 |
| Average salary (parent company) | ¥7.3M | ¥7.5M | ¥7.4M | ¥7.6M | ¥7.6M |
| Average age (parent company) | 49.0 years | 49.3 years | 49.4 years | 49.5 years | 49.8 years |
| Average tenure (parent company) | 23.8 years | 24.0 years | 24.0 years | 24.0 years | 24.2 years |

Year over year: Employees (consolidated) -0.2% · Revenue (consolidated) +8.7%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Takara Shuzo | 118,032 | 29.9% | 5,729 | 4.9% |
| Takara Shuzo International Group | 221,549 | 56.2% | 14,201 | 6.4% |
| Takara Bio Group | 40,317 | 10.2% | -4,688 | -11.6% |
| Other | 14,416 | 3.7% | 3,358 | 23.3% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Takara Shuzo | 29.9% | 24.6% | -5.3 | 4.9% |
| Takara Shuzo International Group | 56.2% | 61.0% | 4.8 | 6.4% |
| Takara Bio Group | 10.2% | — | — | -11.6% |
| Other | 3.7% | 14.4% | 10.8 | 23.3% |

Loss-making segment (excluded from profit shares): Takara Bio Group -4,688 JPY mn

Segment → industry: Takara Shuzo International Group → Alcoholic Beverages / Takara Shuzo → Alcoholic Beverages / Takara Shuzo International Group → Specialty Trading & Wholesale / Takara Bio Group → CRO & Clinical Testing / Takara Bio Group → Biotech & Regenerative Medicine

## 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 | 17,318 | 4.4% | S100YINV |
| Capital expenditure | 22,167 | 5.6% | S100YINV |
| Free cash flow | -4,849 | -1.2% | 算出 |
| Investing cash flow | -15,341 | -3.9% | S100YINV |
| Financing cash flow | -9,307 | -2.4% | S100YINV |
| Dividends paid | 6,054 | 1.5% | S100YINV |
| Share buyback | 3,000 | 0.8% | S100YINV |
| Change in cash | -6,204 | -1.6% | S100YINV |
| Cash and equivalents | 69,125 | 17.5% | S100YINV |

## 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 | 75,729 | 91,785 | 90,184 | 75,280 | 69,125 | S100TP2Z, S100W0VY, S100YINV |
| Total assets | 362,438 | 399,174 | 437,468 | 477,587 | 513,801 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Net assets | 224,555 | 255,318 | 280,465 | 300,903 | 310,937 | S100TP2Z, S100W0VY, S100YINV |
| Share capital | 13,226 | 13,226 | 13,226 | 13,226 | 13,226 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Trade receivables | 62,856 | 61,624 | 60,854 | 65,689 | 66,621 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Property, plant and equipment | 79,747 | 88,890 | 104,882 | 123,610 | 133,068 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Intangible assets excluding goodwill | 15,360 | 15,931 | 18,336 | 41,662 | 60,369 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Goodwill | 10,070 | 10,668 | 12,154 | 25,283 | 30,457 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Investment securities | 29,228 | 30,573 | 43,597 | 34,467 | 39,591 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Current assets | 232,323 | 241,513 | 245,213 | 245,433 | 249,314 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Current liabilities | 79,151 | 67,454 | 80,657 | 73,419 | 82,037 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Trade payables | 20,973 | 21,775 | 22,315 | 24,067 | 26,779 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Short-term borrowings | 5,497 | 4,919 | 10,008 | 12,315 | 6,414 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Long-term borrowings | 15,248 | 15,186 | 10,422 | 30,689 | 40,431 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Bonds | 20,000 | 20,000 | 15,000 | 15,000 | 10,000 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Interest-bearing debt | 40,745 | 40,105 | 35,430 | 58,004 | 56,845 | 算出 |
| Total liabilities | 137,882 | 143,856 | 157,003 | 176,683 | 202,863 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Non-controlling interests | 44,135 | 51,366 | 51,799 | 55,675 | 51,597 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Equity attributable to owners of parent | 163,976 | 177,363 | 183,749 | 194,376 | 197,019 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Retained earnings | 149,933 | 163,825 | 169,909 | 180,449 | 186,093 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |
| Treasury stock | -1,682 | -1,682 | -2,103 | -2,103 | -5,103 | S100QZAK, S100TP2Z, S100W0VY, S100YINV |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 13% | S100YINV |
| Receivables | 13% | S100YINV |
| Property, plant and equipment | 26% | S100YINV |
| Intangibles and goodwill | 18% | S100YINV |
| Investment securities | 8% | S100YINV |
| Other assets | 22% | S100YINV |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 5% | S100YINV |
| Interest-bearing debt | 11% | 算出 |
| Other liabilities | 23% | S100YINV |
| Equity | 61% | S100YINV |
| Other liabilities | 0% | S100YINV |

### 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 | 362,438 | 399,174 | 437,468 | 477,587 | 513,801 |
| Equity | 224,555 | 255,318 | 280,465 | 300,903 | 310,937 |
| Interest-bearing debt | 40,745 | 40,105 | 35,430 | 58,004 | 56,845 |
| Cash | 75,729 | 91,785 | 90,184 | 75,280 | 69,125 |

## 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) | 33.7% | S100YINV |
| Fixed assets ÷ total assets | 25.9% | S100YINV |
| Goodwill ÷ parent equity | 15.5% | S100YINV |

Goodwill over 4 years: 10,070 → 30,457 JPY; total investing cash flow: -97,769 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) | 13.5% |
| Cash ÷ revenue | 17.5% |
| Net cash (cash − interest-bearing debt) | ¥12.3B |
| Net debt ÷ operating cash flow | -0.71× |
| Cash conversion (operating CF ÷ operating income) | 101.4% |
| Cash vs. profit gap | 5,622 JPY mn (of net income 48.1%) |
| Shareholder returns / net income | 77.4% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 51.8% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 5.6% |
| Investing CF relative to operating CF | 88.6% |

## 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 | 6.9% | 0.83× | 5.7% | 2.21× | 12.7% | S100QZAK |
| 2023 | 6.0% | 0.92× | 5.6% | 2.23× | 12.4% | S100TP2Z |
| 2024 | 4.8% | 0.81× | 3.9% | 2.32× | 9.0% | S100W0VY |
| 2025 | 4.5% | 0.79× | 3.5% | 2.42× | 8.6% | S100YINV |
| 2026 | 3.0% | 0.80× | 2.4% | 2.53× | 6.0% | S100YINV |

## 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） | Major shareholder | 10.3% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505010 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 9.1% | 2026-03-31 |
| 株式会社みずほ銀行 | Major shareholder | 5.0% | 2026-03-31 |
| 農林中央金庫 | Major shareholder | 4.4% | 2026-03-31 |
| VALUEACT JAPAN MASTER FUND, L.P. （常任代理人 シティバンク、エヌ・エイ東京支店） | Major shareholder | 3.1% | 2026-03-31 |
| 明治安田生命保険相互会社 | Major shareholder | 2.8% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 2.8% | 2026-03-31 |
| 株式会社京都銀行 | Major shareholder | 2.6% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 510311 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.5% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 510312 （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 2.5% | 2026-03-31 |

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

- Revenue for the FY ending Mar 2026 was ¥394.3B, up +8.7% from ¥362.7B.
- Profit went the other way: operating income slipped -17.1% to ¥17.1B, and net income attributable to owners dropped -27.8% to ¥11.7B.
- Operating cash flow grew +7.2% to ¥17.3B, but capital expenditure of ¥22.2B was larger, so free cash flow was -¥4.85B.

### Drivers

- Overseas, premium bourbon Blanton's kept selling well, Japanese sake and other traditional drinks grew, and newly acquired companies added sales, lifting both revenue and profit at Takara Shuzo International Group
- Takara Bio saw sales fall in reagents, instruments, contract services and gene medicine, and costs from acquiring Curio Bioscience plus goodwill amortization pushed it to an operating loss
- Net income was hit by an impairment on idle contract manufacturing equipment and a partial write-down of deferred tax assets, partly offset by gains on selling investment securities

### Risks

- An aging, shrinking population and younger people drinking less could reduce demand for alcohol in Japan
- Most of Takara Bio's main reagents are made at a subsidiary in China, which exposes them to tariff changes and similar disruptions
- With large overseas sales and foreign-currency purchases, exchange rate moves affect results

Cited: Annual securities report (115th fiscal term) (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 (115th fiscal term) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第115期(2025/04/01－2026/03/31) | S100YINV | 2026-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YINV,, |
| 有価証券報告書－第114期(2024/04/01－2025/03/31) | S100W0VY | 2025-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W0VY,, |
| 有価証券報告書－第113期(2023/04/01－2024/03/31) | S100TP2Z | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TP2Z,, |
| 有価証券報告書－第112期(2022/04/01－2023/03/31) | S100QZAK | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100QZAK,, |
| 有価証券報告書－第111期(令和3年4月1日－令和4年3月31日) | S100OHEJ | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OHEJ,, |
| 有価証券報告書－第110期(令和2年4月1日－令和3年3月31日) | S100LNLN | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LNLN,, |

## 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).