# TOHO HOLDINGS 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78期(2025/04/01－2026/03/31) (S100YHSN)
> Page: https://vizora.meequs.com/en/company/toho-holdings
> Retrieved: 2026-09-30T17:55:53.680Z

## Company

Toho Holdings is a company in Health Tech listed on TSE Prime. It has 7,675 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | TOHO HOLDINGS CO.,LTD. |
| Ticker | 8129 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/8129.T) |
| Listing | TSE Prime |
| Head office | 東京都世田谷区代沢四丁目43番11号 |
| Representative (per filing) | 代表取締役 社長執行役員CEO 枝廣 弘巳 |
| Share capital | ¥10.6B |
| Employees (consolidated) | 7,675 |
| Average salary (parent only) | ¥6.8M |
| Fiscal year end | March |
| Website | www.tohohd.co.jp (https://www.tohohd.co.jp/) |
| Corporate number | 4010901008153 |
| EDINET | E02608 |
| Industries (Vizora) | Health Tech, Pharmaceuticals, Specialty Trading & Wholesale, Drugstores & Pharmacies |

> Profile source: annual securities report (S100YHSN, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Specialty Trading & Wholesale (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 47.2 | 179 |
| Profitability | 12.7 | 185 |
| Cash conversion | 60.6 | 179 |
| Efficiency | 79.7 | 185 |
| Financial strength | 92.5 | 20 |

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 93% of Toho Holdings's sales come from Medical products retail, with Dispensing pharmacy and Other related business making up much of the rest.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed +2.3% from the prior year, operating profit -12.3%.

## Company structure

- Segment revenue mix: Medical products retail 93.0%、Dispensing pharmacy 6.5%、Other related business 0.4%、Medical products manufacturing and sales 0.2%
- Revenue → net income: ¥1553364000000 → ¥17338000000
- Net income → operating cash flow: ¥17338000000 → ¥19243000000（difference ¥1905000000）
- Main uses of operating cash flow: CapEx ¥9513000000 / dividends ¥5449000000 / buybacks ¥10002000000
- Change in cash: ¥3719000000
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 | ¥1.55T |  |
| Operating income | ¥16.6B | Margin 1.1% |
| Net income | ¥17.3B | Margin 1.1% |
| Free cash flow | ¥9.73B |  |
| Largest business | Medical products retail | of segment revenue 93.0% |
| Employees (consolidated) | 7,675 |  |
| EPS | ¥226.93 |  |
| Diluted EPS | ¥218.33 |  |
| Book value per share | ¥2493.03 |  |
| Equity ratio | 36.6% |  |
| Shares outstanding | 73,025,942 |  |
| Treasury shares | 8,346,700 |  |
| Shareholders | 3,665 |  |
| Average salary (parent only) | ¥6.8M | Filing company only |
| Cash ratio | 11.2% | Net cash ¥76.2B · Cash ÷ revenue 5.4% |
| Vs. industry median margin | -1.8 pp | Specialty Trading & Wholesale |
| ROE | 6.9% | Derived from disclosed figures |
| ROA | 2.4% | Derived from disclosed figures |

## Notable figures

- FY2026, buybacks were 1.8× dividends
- FY2026, one segment accounts for 87% of positive segment profit

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥1210274000000 | ¥1553364000000 | +28.3% |
| Operating income | ¥4303000000 | ¥16601000000 | +285.8% |
| Operating margin | 0.4% | 1.1% | +0.7 pp |
| Employees | 7,732 people | 7,675 people | -0.7% |
| Cash and equivalents | ¥88882000000 | ¥83286000000 | -6.3% |

### 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 |
| --- | ---: |
| 医薬品卸売事業 → 医薬品卸売事業 | 92.2% |
| 調剤薬局事業 → 調剤薬局事業 | 6.5% |
| 調剤薬局事業 → 事業再編・廃止 | 1.0% |
| 医薬品製造販売事業 → 医薬品製造販売事業 | 0.2% |
| 医薬品製造販売事業 → 事業再編・廃止 | 0.0% |
| 治験施設支援事業 → 事業再編・廃止 | 0.0% |
| その他周辺事業 → その他周辺事業 | 0.1% |
| 情報機器販売事業 → 事業再編・廃止 | 0.0% |
| 新設・再編 → 医薬品卸売事業 | 0.8% |
| 新設・再編 → その他周辺事業 | 0.3% |

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 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Medical products retail | 5 years | +5.3% | ¥1444698000000 | 1.2% | 2 |
| Dispensing pharmacy | 5 years | +2.0% | ¥100535000000 | 1.4% | 2 |
| Other related business | 5 years | +50.7% | ¥5475000000 | 15.2% | 2 |
| Medical products manufacturing and sales | 5 years | +3.4% | ¥2654000000 | 10.6% | 2 |

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

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 1,553,364 | 100.0% | S100YHSN |
| Cost of revenue | 1,430,947 | 92.1% | S100YHSN |
| Gross profit | 122,416 | 7.9% | S100YHSN |
| SG&A | 105,815 | 6.8% | S100YHSN |
| Operating income | 16,601 | 1.1% | S100YHSN |
| Ordinary income | 16,631 | 1.1% | S100YHSN |
| Pretax income | 26,141 | 1.7% | S100YHSN |
| Income tax | 8,802 | 0.6% | S100YHSN |
| Net income | 17,338 | 1.1% | S100YHSN |
| Net income attributable to owners | 17,327 | 1.1% | S100YHSN |

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

| Part | JPY |
| --- | ---: |
| Cost of revenue | 92 |
| SG&A | 7 |
| Operating income | 1 |
| (Ref.) Net income | 1 |

### Margin funnel

Gross margin 7.9% → Operating margin 1.1% → Net margin 1.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue up, profit down
Revenue growth: +2.3%; Core profit growth: -12.3%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): -5.37×
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 | 1,518,495 | 1,553,364 | 34,869 | +2.3% |
| Gross profit | 121,648 | 122,416 | 768 | +0.6% |
| Operating income | 18,936 | 16,601 | -2,335 | -12.3% |
| Net income attributable to owners | 19,844 | 17,327 | -2,517 | -12.7% |
| Operating cash flow | -26,675 | 19,243 | 45,918 | — |
| Free cash flow | -32,432 | 9,730 | 42,162 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 1,263,708 | 17,590 | 1.4% | 16,230 | 10,815 | -3,055 | S100LUOG |
| FY ending Mar 2021 | 1,210,274 | 4,303 | 0.4% | 4,989 | 8,768 | 3,044 | S100OLHO |
| FY ending Mar 2022 | 1,266,171 | 12,527 | 1.0% | 13,379 | 16,341 | 12,139 | S100R9FR |
| FY ending Mar 2023 | 1,392,117 | 16,365 | 1.2% | 13,630 | -9 | -2,528 | S100TX0G |
| FY ending Mar 2024 | 1,476,712 | 19,331 | 1.3% | 20,657 | 59,934 | 56,153 | S100W4IU |
| FY ending Mar 2025 | 1,518,495 | 18,936 | 1.2% | 19,844 | -26,675 | -32,432 | S100YHSN |
| FY ending Mar 2026 | 1,553,364 | 16,601 | 1.1% | 17,327 | 19,243 | 9,730 | S100YHSN |

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

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥202.4M |
| Operating income per employee (consolidated) | ¥2.2M |
| Net income per employee (consolidated) | ¥2.3M |

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) | 7,785 | 7,699 | 7,572 | 7,609 | 7,675 |
| Average salary (parent company) | ¥6M | ¥6M | ¥6.1M | ¥6.2M | ¥6.8M |
| Average age (parent company) | 47.4 years | 47.3 years | 47.3 years | 47.3 years | 48.3 years |
| Average tenure (parent company) | 18.6 years | 18.8 years | 18.4 years | 18.3 years | 18.9 years |

Year over year: Employees (consolidated) +0.9% · Revenue (consolidated) +2.3%

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

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Medical products retail | 1,444,698 | 93.0% | 16,820 | 1.2% |
| Dispensing pharmacy | 100,535 | 6.5% | 1,397 | 1.4% |
| Medical products manufacturing and sales | 2,654 | 0.2% | 282 | 10.6% |
| Other related business | 5,475 | 0.4% | 832 | 15.2% |

### 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 |
| --- | ---: | ---: | ---: | ---: |
| Medical products retail | 93.0% | 87.0% | -6.0 | 1.2% |
| Dispensing pharmacy | 6.5% | 7.2% | 0.8 | 1.4% |
| Medical products manufacturing and sales | 0.2% | 1.5% | 1.3 | 10.6% |
| Other related business | 0.4% | 4.3% | 4.0 | 15.2% |

Segment → industry: Other related business → Health Tech / Medical products manufacturing and sales → Pharmaceuticals / Medical products retail → Specialty Trading & Wholesale / Dispensing pharmacy → Drugstores & Pharmacies

## 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 | 19,243 | 1.2% | S100YHSN |
| Capital expenditure | 9,513 | 0.6% | S100YHSN |
| Free cash flow | 9,730 | 0.6% | 算出 |
| Investing cash flow | 822 | 0.1% | S100YHSN |
| Financing cash flow | -16,346 | -1.1% | S100YHSN |
| Dividends paid | 5,449 | 0.4% | S100YHSN |
| Share buyback | 10,002 | 0.6% | S100YHSN |
| Change in cash | 3,719 | 0.2% | S100YHSN |
| Cash and equivalents | 83,286 | 5.4% | S100YHSN |

## 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 | 90,014 | 81,839 | 128,673 | 78,226 | 83,286 | S100TX0G, S100W4IU, S100YHSN |
| Total assets | 702,376 | 715,288 | 773,427 | 722,805 | 740,781 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Net assets | 241,281 | 242,916 | 249,437 | 256,897 | 271,560 | S100TX0G, S100W4IU, S100YHSN |
| Share capital | 10,649 | 10,649 | 10,649 | 10,649 | 10,649 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Property, plant and equipment | 94,653 | 90,270 | 87,478 | 86,844 | 89,140 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Intangible assets excluding goodwill | 5,177 | 5,377 | 5,636 | 6,087 | 8,079 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Goodwill | 733 | 514 | 297 | 193 | 89 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Investment securities | 78,742 | 72,604 | 70,212 | 64,095 | 59,298 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Current assets | 513,107 | 533,519 | 597,888 | 548,946 | 571,044 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Current liabilities | 402,819 | 440,188 | 471,305 | 424,008 | 441,920 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Trade payables | 370,012 | 385,140 | 438,072 | 397,722 | 414,243 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Short-term borrowings | 247 | 163 | 139 | 122 | 80 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Long-term borrowings | 12,596 | 6,472 | 6,074 | 4,478 | 5,282 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Bonds | 20,023 | — | 22,092 | 13,081 | 1,753 | S100R9FR, S100W4IU, S100YHSN |
| Interest-bearing debt | 32,866 | — | 28,305 | 17,681 | 7,115 | 算出 |
| Total liabilities | 461,095 | 472,372 | 523,990 | 465,907 | 469,221 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Non-controlling interests | 199 | 92 | 104 | 116 | 126 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Equity attributable to owners of parent | 224,413 | 228,219 | 234,701 | 245,975 | 259,465 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Retained earnings | 180,254 | 191,531 | 209,746 | 218,932 | 230,378 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |
| Treasury stock | -15,719 | -23,107 | -30,907 | -28,819 | -26,775 | S100R9FR, S100TX0G, S100W4IU, S100YHSN |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 11% | S100YHSN |
| Property, plant and equipment | 12% | S100YHSN |
| Intangibles and goodwill | 1% | S100YHSN |
| Investment securities | 8% | S100YHSN |
| Other assets | 68% | S100YHSN |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 56% | S100YHSN |
| Interest-bearing debt | 1% | 算出 |
| Other liabilities | 6% | S100YHSN |
| Equity | 37% | S100YHSN |

### 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 | 702,376 | 715,288 | 773,427 | 722,805 | 740,781 |
| Equity | 241,281 | 242,916 | 249,437 | 256,897 | 271,560 |
| Interest-bearing debt | 32,866 | — | 28,305 | 17,681 | 7,115 |
| Cash | 90,014 | 81,839 | 128,673 | 78,226 | 83,286 |

## 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) | 5.7% | S100YHSN |
| Fixed assets ÷ total assets | 12.0% | S100YHSN |
| Goodwill ÷ parent equity | 0.0% | S100YHSN |

Goodwill over 4 years: 733 → 89 JPY; total investing cash flow: -984 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) | 11.2% |
| Cash ÷ revenue | 5.4% |
| Net cash (cash − interest-bearing debt) | ¥76.2B |
| Net debt ÷ operating cash flow | -3.96× |
| Cash conversion (operating CF ÷ operating income) | 115.9% |
| Cash vs. profit gap | 1,916 JPY mn (of net income 11.1%) |
| Shareholder returns / net income | 89.2% |
| Shareholder returns / FCF | 158.8% |
| Shareholder payments — dividends / net income | 31.4% |
| Shareholder payments — dividends / FCF | 56.0% |
| CapEx intensity (capex ÷ revenue) | 0.6% |
| Investing CF relative to operating CF | 4.3% |

## 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 | 1.1% | 1.80× | 1.9% | 3.13× | 6.0% | S100R9FR |
| 2023 | 1.0% | 1.96× | 1.9% | 3.13× | 6.0% | S100TX0G |
| 2024 | 1.4% | 1.98× | 2.8% | 3.22× | 8.9% | S100W4IU |
| 2025 | 1.3% | 2.03× | 2.7% | 3.11× | 8.3% | S100YHSN |
| 2026 | 1.1% | 2.12× | 2.4% | 2.90× | 6.9% | S100YHSN |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ＳＴＡＴＥ ＳＴＲＥＥＴ ＢＡＮＫ ＡＮＤ ＴＲＵＳＴ ＣＯＭＰＡＮＹ ５０５０１８（常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 14.9% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 11.3% | 2026-03-31 |
| 塩野義製薬株式会社 | Major shareholder | 5.4% | 2026-03-31 |
| ＧＯＬＤＭＡＮ，ＳＡＣＨＳ ＆ ＣＯ．ＲＥＧ （常任代理人 ゴールドマン・サックス証券株式会社） | Major shareholder | 4.3% | 2026-03-31 |
| ３Ｄ ＷＨ ＯＰＰＯＲＴＵＮＩＴＹ ＭＡＳＴＥＲ ＯＦＣ － ３Ｄ ＷＨ ＯＰＰ ＯＲＴＵＮＩＴＹ ＨＯＬＤＩＮＧＳ （常任代理人 株式会社みずほ銀行決済営業部） | Major shareholder | 3.7% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 2.5% | 2026-03-31 |
| 河野 博行 | Major shareholder | 2.1% | 2026-03-31 |
| みずほ信託銀行株式会社 退職給付信託 第一三共口 再信託受託者 株式会社日本カストディ銀行 | Major shareholder | 2.1% | 2026-03-31 |
| ＧＯＬＤＭＡＮ ＳＡＣＨＳ ＩＮＴＥＲＮＡＴＩＯＮＡＬ （常任代理人 ゴールドマン・サックス証券株式会社） | Major shareholder | 2.0% | 2026-03-31 |
| 東邦ホールディングス従業員持株会 | Major shareholder | 1.9% | 2026-03-31 |

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

- Revenue for the FY ending Mar 2026 was ¥1.55T, up +2.3% from ¥1.52T.
- Gross profit barely moved, rising +0.6% to ¥122.4B.
- Operating income dropped -12.3% from ¥18.9B to ¥16.6B, and net income attributable to owners fell -12.7% to ¥17.3B.
- Operating cash flow swung back to a positive ¥19.2B after -¥26.7B the year before.

### Drivers

- In wholesale, COVID-related products kept shrinking, but cancer drugs, specialty medicines, diabetes treatments and shingles vaccines sold more.
- Higher purchase costs for drugs cut profit in the wholesale segment.
- The pharmacy business grew both sales and profit, even though costs from merging its operating companies came first.

### Risks

- Changes to official drug prices or the health insurance system can hit not only sales but also selling prices to hospitals and rebates from drug makers.
- The industry often delivers drugs before the price is agreed; if the final price differs from the estimate, results can shift.
- If customers run into financial trouble, more receivables than expected may go unpaid.

Cited: Annual Securities Report, 78th 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, 78th fiscal term (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第78期(2025/04/01－2026/03/31) | S100YHSN | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YHSN,, |
| 有価証券報告書－第77期(2024/04/01－2025/03/31) | S100W4IU | 2025-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W4IU,, |
| 有価証券報告書－第76期(2023/04/01－2024/03/31) | S100TX0G | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TX0G,, |
| 有価証券報告書－第75期(2022/04/01－2023/03/31) | S100R9FR | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R9FR,, |
| 有価証券報告書－第74期(令和3年4月1日－令和4年3月31日) | S100OLHO | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OLHO,, |
| 有価証券報告書－第73期(令和2年4月1日－令和3年3月31日) | S100LUOG | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LUOG,, |

## 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).