Ano Kaisha no Shikumi
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Kakaku.com

Kakaku.com,Inc.

Company highlights

The restaurants listed pay, not the people reading.

Vol.6, Chapter 3 (as of 2026-08-26)

Key figures

Period Apr 2025 to Mar 2026ConsolidatedIFRS

RevenueDisclosed ¥94.1B
Operating marginCalculated 28.9%
Net assets to total assetsCalculated 70.5%

Business revenue model

Featured in

Vol.6, Chapter 3 (as of 2026-08-26)

“Kaisha no Shikumi: Free”, Chapter 3: Kakaku.com: On Tabelog, the Restaurants Pay

Book’s reference date 2026-08-26 / data last checked 2026-10-20

Key points in this volumeA free service's profits depend not just on how many people use it, but on who pays.

People who read Tabelog pay nothing. Of ¥40.2 billion in Tabelog revenue for the year ended March 2026, 91.2% is borne by restaurants, and membership fees from users are 4.1% (ratios calculated).

Restaurants pay in two ways: monthly advertising in 4 tiers from ¥10,000 to ¥100,000, and a per-head charge for diners who arrive through a booking, at ¥200 a head for dinner and ¥100 for lunch. Paying restaurants rose from 59,100 to 100,300.

Figures from the book

How money moves at Tabelog: users read free, and the restaurants listed pay monthly advertising and a per-booking charge
How money moves at Tabelog (figure from Chapter 3 of “Kaisha no Shikumi: Free”, year ended March 2026, in Japanese)

The move that changed Kakaku.com

Kakaku.com turned the charge for each diner arriving through a reservation into a line of income that stands alongside the monthly listing fee.

Tabelog's revenue, which had fallen to ¥17.8 billion ($111 million) in the year ended March 2021, was ¥40.2 billion in the year ended March 2026, and 49.9% of that is the per-diner reservation fee.

Coverage in the book

  • 97.08 Million People Use It a Month, and 100,300 Restaurants Pay
  • Restaurants Pay in Two Ways, a Monthly Fee and a Charge by the Head
  • In the Year Ended March 2021, Tabelog's Revenue Fell to ¥17.8 Billion
  • The Kakaku.com Site Charges by the Click and by the Result
  • Kakaku.com's Ten Fiscal Years, and Its Dividend Policy

Ad: Amazon Associates links (the operator may earn a referral fee) · books by the site operator

Cover of “Kaisha no Shikumi: Free” “Kaisha no Shikumi: Free” Chapter 3: Kakaku.com “Kakaku.com: On Tabelog, the Restaurants Pay” “Ano Kaisha no Shikumi” series, Vol.6 — Kindle and paperback Find it on Amazon →

Company profile

Securities code 2371 / EDINET code E05350 / Services / Fiscal year end March 31

渋谷区恵比寿南三丁目5番7号/Capital stock ¥915 million
Address, capital stock, fiscal year end and industry: the FSA’s EDINET code list.

Official website: http://corporate.kakaku.com/
Official website: gBizINFO (Ministry of Economy, Trade and Industry).

Company details
村上 敦浩 Representative

Tables scroll sideways

Disclosed data

Source: Annual Securities Report (Apr 2025 to Mar 2026) · filed 2026-06-17

Profitability ★★★★★position among all companies 28.9%
Growth (revenue, 4-year average) ★★★★★position among all companies 16.1%
Capital efficiency ★★★★★position among all companies 29.7%

Business activities and revenue composition

Kakaku.com

Revenue and profit by business segment

Period Apr 2025 to Mar 2026Source Annual securities reportsConsolidated・Disclosed

食べログ事業食べログ事業 Sales 42.8% 43% 価格.com事業価格.com事業 Sales 25.1% 25% 求人ボックス事業求人ボックス事業 Sales 21.5% 21% Incubation …Incubation business Sales 10.7% 11%
BusinessNet sales to external customers Operating income
This yearShareLast year This yearMarginLast year
食べログ事業 ¥40.2 billion 42.8% ¥33.5 billion ¥22.2 billion 55.2% ¥18.1 billion
価格.com事業 ¥23.6 billion 25.1% ¥23.6 billion ¥12.5 billion 53.1% ¥11.7 billion
求人ボックス事業 ¥20.2 billion 21.5% ¥13.4 billion ¥-1.5 billion -7.4% ¥4.3 billion
Incubation business ¥10.1 billion 10.7% ¥8.0 billion ¥2.7 billion 27.2% ¥1.9 billion
Total of the businesses ¥94.1 billion100.0%

Revenue and profit

Amounts by account
GroupAccountAmountConsolidated / Non-consolidated
Selling, general and administrative expenses Advertising expenses ¥18.5 billion Parent only
Commission fees ¥11.9 billion Parent only
Agent fees ¥9.4 billion Parent only
Salaries and allowances ¥6.9 billion Parent only
Provision for bonuses ¥0.6 billion Parent only
Depreciation ¥0.2 billion Parent only
Provision for directors' bonuses ¥26.00 million Parent only
Provision of allowance for doubtful accounts ¥20.00 million Parent only
Profit by stage Gross profit (loss) ¥77.8 billion Parent only
Ordinary income ¥29.1 billion Parent only
Operating income ¥27.2 billion Consolidated
Net income ¥18.8 billion Consolidated

Kakaku.com

Selling, general and administrative expenses

Period Apr 2025 to Mar 2026Source Annual securities reports

Advertising expenses ¥18.5 billion (39.0%)39%Commission fees ¥11.9 billion (25.0%)25%Agent fees ¥9.4 billion (19.8%)20%Salaries and allowances ¥6.9 billion (14.6%)15%Provision for bonuses ¥0.6 billion (1.3%)Depreciation ¥0.2 billion (0.3%)¥47.5B
  • Advertising expenses ¥18.5 billion
  • Commission fees ¥11.9 billion
  • Agent fees ¥9.4 billion
  • Salaries and allowances ¥6.9 billion
  • Provision for bonuses ¥0.6 billion
  • Depreciation ¥0.2 billion

Performance, financial position and capital allocation

Finance
70.5% Net assets to total assets Industry median 55.2% FY ending 3/2026 · consolidated / calculated
20.3% Return on assets (ROA)
¥308.38 Net assets per share
¥13.9 billion Free cash flow
¥92.5 billion Total assets
¥7.4 billion Goodwill (the part of the acquisition price above the net assets acquired)
Capital allocation
93.2% Cash conversion Industry median 106.7% FY ending 3/2026 · consolidated / calculated
17.3% Property, plant and equipment purchases relative to depreciation ★☆☆☆☆ position among all companies FY ending 3/2026 · consolidated / calculated
62.4% Return to shareholders ★★★★★ position among all companies FY ending 3/2026 · consolidated / calculated

Long-term changes in performance

Period 2013 to 2026Disclosed

Revenue ×4.04 from 2013 to 2026

Kakaku.com

Long-term revenue, profit and asset trends

Period 2013 to 2026Source Annual securities reportsDisclosed

Mark on the chart
94 63 31 0 2013 2015 2017 2019 2021 2023 2025 2026 Net sales and operating revenue Ordinary income 2014 Net sales year on year +28.1% 2015 Net sales year on year +20.0% 2021 Profit (loss) before tax (IFRS) as a share of revenue -8.6 points 2022 Profit (loss) before tax (IFRS) as a share of revenue +5.3 points 2023 Profit (loss) before tax (IFRS) as a share of revenue -2.2 points 2025 Profit (loss) before tax (IFRS) as a share of revenue -2.4 points 2026 Revenue (IFRS) year on year +20.0%, Profit (loss) before tax (IFRS) as a share of revenue -7.6 points 94Latest value 2026 94¥ billion 94Highest in the period shown 2026 94¥ billion 23Lowest in the period shown 2013 23¥ billion ¥ billion

Recent performance trends

Year-on-year comparison

Period 2013 to 2026Disclosed

Item20222023202420252026
Revenue (IFRS) ¥51.7B ¥60.8B ¥66.9B ¥78.4B ¥94.1B
Year on year (%) +1.3% +17.6% +10.0% +17.2% +20.0%◆
Profit (loss) before tax (IFRS) ¥20.9B ¥23.3B ¥26.1B ¥28.7B ¥27.3B
Change from prior year +16.7% +11.3% +12.3% +9.9% -4.8%
Profit (loss) before tax (IFRS) as a share of Revenue (IFRS) 40.4% 38.2% 39.0% 36.6% 29.1%
Change (percentage points) +5.3 points◆ -2.2 points◆ +0.8 points -2.4 points◆ -7.6 points◆

Fiscal periods marked for changes

Earlier fiscal periods (4)
  • 2014Net sales year on year +28.1%
  • 2015Net sales year on year +20.0%
  • 2021Profit (loss) before tax (IFRS) as a share of revenue -8.6 points
  • 2022Profit (loss) before tax (IFRS) as a share of revenue +5.3 points
  • 2023Profit (loss) before tax (IFRS) as a share of revenue -2.2 points
  • 2025Profit (loss) before tax (IFRS) as a share of revenue -2.4 points
  • 2026Revenue (IFRS) year on year +20.0%, Profit (loss) before tax (IFRS) as a share of revenue -7.6 points

Kakaku.com

Earnings and net assets per share over time

Unit yenSource Annual securities reports

101 68 34 0 4 years ago 3 years ago 2 years ago Last year This year Earnings per share yen 328 219 110 0 4 years ago 3 years ago 2 years ago Last year This year Net assets per share yen
Consolidated indicators (16 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Revenue (IFRS) ¥51.7 billion ¥60.8 billion ¥66.9 billion ¥78.4 billion ¥94.1 billion
Profit (loss) before tax (IFRS) ¥20.9 billion ¥23.3 billion ¥26.1 billion ¥28.7 billion ¥27.3 billion
Profit (loss) (IFRS) ¥14.3 billion ¥16.2 billion ¥18.1 billion ¥20.0 billion ¥18.9 billion
Profit (loss) attributable to owners of parent (IFRS) ¥14.3 billion ¥16.2 billion ¥18.1 billion ¥20.0 billion ¥18.8 billion
Comprehensive income attributable to owners of parent (IFRS) ¥14.4 billion ¥16.1 billion ¥18.1 billion ¥20.0 billion ¥18.8 billion
Equity attributable to owners of parent (IFRS) ¥48.0 billion ¥47.9 billion ¥51.4 billion ¥61.8 billion ¥65.0 billion
Total assets (IFRS) ¥70.5 billion ¥78.6 billion ¥83.3 billion ¥93.5 billion ¥92.5 billion
Equity attributable to owners of parent per share (IFRS) 234.38 yen 238.09 yen 260.06 yen 312.6 yen 328.5 yen
Basic earnings (loss) per share (IFRS) 69.65 yen 79.39 yen 90.45 yen 101.33 yen 95.05 yen
Diluted earnings (loss) per share (IFRS) 69.61 yen 79.33 yen 90.34 yen 101.29 yen 95.02 yen
Ratio of equity attributable to owners of parent (IFRS) 68.0% 60.9% 61.7% 66.1% 70.3%
Return on equity attributable to owners of parent (IFRS) 30.1% 33.7% 36.5% 35.4% 29.7%
Net cash provided by (used in) operating activities (IFRS) ¥16.0 billion ¥22.4 billion ¥19.5 billion ¥27.4 billion ¥25.4 billion
Net cash provided by (used in) investing activities (IFRS) ¥-1.3 billion ¥-2.7 billion ¥-2.2 billion ¥-2.9 billion ¥-11.4 billion
Net cash provided by (used in) financing activities (IFRS) ¥-15.3 billion ¥-17.6 billion ¥-16.1 billion ¥-11.3 billion ¥-18.4 billion
Cash and cash equivalents (IFRS) ¥34.3 billion ¥36.5 billion ¥37.7 billion ¥50.9 billion ¥46.5 billion
Parent only indicators (15 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥46.1 billion ¥52.8 billion ¥59.7 billion ¥70.8 billion ¥84.1 billion
Ordinary income (loss) ¥18.1 billion ¥21.1 billion ¥23.7 billion ¥27.3 billion ¥29.1 billion
Net income (loss) ¥12.8 billion ¥14.2 billion ¥16.3 billion ¥18.8 billion ¥21.8 billion
Capital stock ¥0.9 billion ¥0.9 billion ¥0.9 billion ¥0.9 billion ¥0.9 billion
Total number of issued shares (common stock) 205,281,200 shares 201,763,000 shares 198,218,300 shares 198,218,300 shares 198,218,300 shares
Net assets ¥45.5 billion ¥43.7 billion ¥45.5 billion ¥54.9 billion ¥61.3 billion
Total assets ¥53.3 billion ¥54.4 billion ¥55.2 billion ¥78.4 billion ¥87.5 billion
Net assets per share 220.91 yen 215.33 yen 228.26 yen 277.04 yen 308.38 yen
Dividend per share 40 yen 40 yen 46 yen 80 yen 50 yen
Interim dividend per share 20 yen 20 yen 23 yen 25 yen 25 yen
Basic earnings (loss) per share 62.6 yen 69.76 yen 81.66 yen 94.87 yen 110.33 yen
Diluted earnings per share 62.55 yen 69.71 yen 81.59 yen 94.83 yen 110.29 yen
Equity-to-asset ratio 84.8% 79.7% 81.7% 69.9% 69.7%
Return on equity 28.3% 32.1% 37.0% 37.6% 37.7%
Payout ratio 63.9% 57.3% 56.3% 84.3% 45.3%

Dividend history

Source: reporting company’s key figures, annual securities reports · 14 years (2013 to 2026)Parent-onlyDisclosed

0 periods Consecutive increases (own definition) through FY ending 3/2026
12 periods Consecutive periods with dividends (site definition) through FY ending 3/2026
-37.5% Dividend growth (year on year)
+4.6% Dividend growth (5-year annual rate)
Fiscal yearAnnual dividend per share Of which interimPayout ratio (as reported, parent only) Flag
FY ending 3/2026 ¥50 ¥25 45.3%
FY ending 3/2025 ¥80 ¥25 84.3%
FY ending 3/2024 ¥46 ¥23 56.3%
FY ending 3/2023 ¥40 ¥20 57.3%
FY ending 3/2022 ¥40 ¥20 63.9%
FY ending 3/2021 ¥40 ¥20 67.7%
FY ending 3/2020 ¥40 ¥20 47.3%
FY ending 3/2019 ¥36 ¥18 46.9%
FY ending 3/2018 ¥32 ¥16 44.3%
FY ending 3/2017 ¥28 ¥14 44.2%
FY ending 3/2016 ¥21 Could not be retrieved 35.0%
FY ending 3/2015 ¥16 Could not be retrieved 32.3%
FY ending 3/2014 ¥12.5 Could not be retrieved 30.6% Stock split or share consolidation noted
FY ending 3/2013 ¥35 Could not be retrieved 27.9%

Kakaku.com

Dividends per share over time

Unit yenSource Annual securities reports

80 53 27 0 4 years ago 3 years ago 2 years ago Last year This year Dividend per share yen

Shareholder composition

As of 2026-03-31Disclosed

Share ownership by holder category

9,827 Shareholders
37.61% Foreign holders (total) Industry median 3.64%
4.42% Individuals and others Industry median 52.53%

Kakaku.com

Unit %Source Annual securities reports

  • Financial institutions15.71%
  • Securities firms3.76%
  • Other corporations38.50%
  • Foreign holders (institutions)37.60%
  • Foreign holders (individuals)0.01%
  • Individuals and others4.42%

Major shareholders

RankShareholderShareholding ratioShares held
1 株式会社デジタルガレージ 20.68% 40,917,000
2 KDDI株式会社 17.7% 35,016,000
3 日本マスタートラスト信託銀行株式会社(信託口) 10.24% 20,251,000
4 株式会社日本カストディ銀行(信託口) 3.92% 7,763,000
5 UBS AG LONDON A/C IPB SEGREGATED CLIENT ACCOUNT(常任代理人 シティバンク、エヌ・エイ東京支店) 2.92% 5,773,000
6 GOLDMAN SACHS INTERNATIONAL(常任代理人 ゴールドマン・サックス証券株式会社) 2.49% 4,921,000
7 JPMSPLC CLIENT ASSETS SK JPY(常任代理人 シティバンク、エヌ・エイ東京支店) 2.26% 4,478,000
8 JPモルガン証券株式会社 1.94% 3,833,000
9 BNP PARIBAS LONDON BRANCH FOR PRIME BROKERAGE SEGREGATION ACC FOR THIRD PARTY(常任代理人 香港上海銀行東京支店) 1.48% 2,937,000
10 MSIP CLIENT SECURITIES(常任代理人 モルガン・スタンレーMUFG証券株式会社) 1.48% 2,925,000

Research and development expenses and capital expenditure

Source: R&D and capital expenditure sections, annual securities reports · 3 years (2017 to 2026)Disclosed

Not disclosed Research and development
¥2.7 billion Capital expenditure 2.9% of revenue (industry median 2.3%)
Fiscal year Research and development Capital expenditure
FY ending 3/2026 Could not be retrieved ¥2.7 billion
FY ending 3/2021 Could not be retrieved ¥2.2 billion
FY ending 3/2017 ¥0.1 billion Could not be retrieved

Revenue scale in the same industry

Kakaku.com

Source Annual securities reports of each company

Services: 671 companies · revenue · largest first・each company’s latest fiscal year・Consolidated・Disclosed

Workforce information

Source: Annual Securities Report (Apr 2025 to Mar 2026)Parent-onlyDisclosed

1,152 Employees (parent only) Industry median 130
37.3 Average age Industry median 38.8
6.6 years Average length of service Industry median 6.6 years
¥7.55 million Average annual salary Industry median ¥5.89 million
People and organisation
66.2¥ million Sales per employee Industry median 24.2¥ million FY ending 3/2026 · consolidated / calculated
¥19.17 million Operating income per employee
76.1% Wage gap between men and women
21.8% Women in managerial positions
38.9% Share of female employees
83.3% Men taking childcare leave
Men 814
Women 567
Employees by gender
2 / 18 Female officers
386 Average temporary staff

Administrative filings and published information

Workplace information filings

Filed 2026-07-23Disclosed

ItemValue
Employees 1,381
Average monthly overtime (statutory overtime plus work on statutory days off)
Scope: 正社員
17.5 hours
Annual paid leave taken
Scope: 正社員
83.4%
Childcare leave taken, men
Scope: その他
88.9%
Childcare leave taken, women
Scope: その他
97.6%
Share of managers who are women 20.7%
Share of board members who are women 11.1%

Audit and disclosure information

Annual securities report, year ended 2026-03-31Disclosed

ItemValue
Audit firm EY新日本有限責任監査法人
Audit fees (this year, total) ¥52.00 million
Non-audit fees (this year, total) Not applicable
Going concern note Cannot be determined
Accounting standard IFRS

Sources and methodology

Retrieved disclosed figures

Accounts and values from the annual securities report, by section

Major management indicators (5 years) (31 items)

ItemValueConsolidated / Non-consolidated
Net cash provided by (used in) operating activities (IFRS) ¥25.4 billion Consolidated
Basic earnings (loss) per share (IFRS) 95.05 yen Consolidated
Revenue (IFRS) ¥94.1 billion Consolidated
Diluted earnings (loss) per share (IFRS) 95.02 yen Consolidated
Profit (loss) (IFRS) ¥18.9 billion Consolidated
Profit (loss) attributable to owners of parent (IFRS) ¥18.8 billion Consolidated
Comprehensive income attributable to owners of parent (IFRS) ¥18.8 billion Consolidated
Net cash provided by (used in) investing activities (IFRS) ¥-11.4 billion Consolidated
Cash and cash equivalents (IFRS) ¥46.5 billion Consolidated
Profit (loss) before tax (IFRS) ¥27.3 billion Consolidated
Total assets (IFRS) ¥92.5 billion Consolidated
Equity attributable to owners of parent (IFRS) ¥65.0 billion Consolidated
Return on equity attributable to owners of parent (IFRS) 29.7% Consolidated
Ratio of equity attributable to owners of parent (IFRS) 70.3% Consolidated
Net cash provided by (used in) financing activities (IFRS) ¥-18.4 billion Consolidated
Equity attributable to owners of parent per share (IFRS) 328.5 yen Consolidated
Dividend per share 50 yen Parent only
Net sales ¥84.1 billion Parent only
Net income (loss) ¥21.8 billion Parent only
Diluted earnings per share 110.29 yen Parent only
Total number of issued shares (common stock) 198,218,300 shares Parent only
Net assets ¥61.3 billion Parent only
Ordinary income (loss) ¥29.1 billion Parent only
Total assets ¥87.5 billion Parent only
Return on equity 37.7% Parent only
Equity-to-asset ratio 69.7% Parent only
Capital stock ¥0.9 billion Parent only
Payout ratio 45.3% Parent only
Interim dividend per share 25 yen Parent only
Basic earnings (loss) per share 110.33 yen Parent only
Net assets per share 308.38 yen Parent only

Employees (11 items)

ItemValueConsolidated / Non-consolidated
Number of employees 1,421 people Consolidated
Number of employees 1,421 people Consolidated
Wage gap between men and women (all employees) 76.1% Parent only
Average length of service (years) 6.6 years Parent only
Average annual salary ¥7.55 million Parent only
Average age (years) 37.3 years old Parent only
Number of employees 1,152 people Parent only
Number of employees 1,152 people Parent only
Number of employees 1,152 people Parent only
Wage gap between men and women (regular employees) 78.6% Parent only
Wage gap between men and women (non-regular employees) 89.6% Parent only

Other disclosed items (8 items)

ItemValueConsolidated / Non-consolidated
Average number of temporary employees 386 people Consolidated
Average number of temporary employees 386 people Consolidated
Rate of male employees taking childcare leave (all employees) 83.3% Parent only
Average number of temporary employees 365 people Parent only
Average number of temporary employees 365 people Parent only
Average number of temporary employees 365 people Parent only
Total return on the share price index 202.2% Parent only
Ratio of female employees in managerial positions 21.8% Parent only

Shares (12 items)

ItemValueConsolidated / Non-consolidated
Number of shares held 128,818,000 shares Consolidated
Total number of shares held treasury shares etc 382,000 shares Consolidated
Number of shares 198,218,300 shares Consolidated
Shareholding ratio treasury shares etc 0.2% Consolidated
Shareholding ratio 65.1% Consolidated
Number of shares held in own name treasury shares etc 382,000 shares Consolidated
Number of voting rights 1,977,987 units Consolidated
Carrying amount on the balance sheet ¥1.3 billion Consolidated
Carrying amount on the balance sheet ¥0.3 billion Consolidated
Number of issues 3 issues Consolidated
Number of issues 1 issues Consolidated
Total shareholder return 77.1% Parent only

Property and facilities (1 items)

ItemValueConsolidated / Non-consolidated
Capital expenditures ¥2.7 billion Consolidated

Audit (2 items)

ItemValueConsolidated / Non-consolidated
Fees for audit and attestation services - reporting company ¥52.00 million Consolidated
Fees for audit and attestation services - total ¥52.00 million Consolidated

Accounts unique to this company (18 items)

ItemValueConsolidated / Non-consolidated
Revenue ¥6.00 million Consolidated
Revenue ¥5.0 billion Consolidated
Revenue ¥5.6 billion Consolidated
Revenue ¥-7.6 billion Consolidated
Revenue ¥6.00 million Consolidated
Revenue ¥6.00 million Consolidated
Revenue ¥1.5 billion Consolidated
Revenue ¥-1.5 billion Consolidated
Revenue ¥9.4 billion Consolidated
Revenue ¥0.1 billion Consolidated
Revenue ¥6.00 million Consolidated
Revenue ¥9.00 million Consolidated
Revenue ¥0.3 billion Consolidated
Revenue ¥0.1 billion Consolidated
Revenue ¥0.1 billion Consolidated
Change in average annual salary from the previous year 4.7% Parent only
Revenue ¥1.3 billion Parent only
Revenue ¥1.2 billion Parent only

Balance sheet (123 items)

ItemValueConsolidated / Non-consolidated
Other ¥-1.00 million Consolidated
Other ¥12.00 million Consolidated
Other ¥11.00 million Consolidated
Other current liabilities clifrs ¥3.0 billion Consolidated
Other current assets caifrs ¥1.5 billion Consolidated
Other components of equity IFRS ¥0.3 billion Consolidated
Other financial liabilities ¥7.8 billion Consolidated
Other financial assets ¥5.5 billion Consolidated
Other financial assets ¥6.4 billion Consolidated
Other non current liabilities nclifrs ¥0.6 billion Consolidated
Other non current assets ncaifrs ¥0.1 billion Consolidated
Goodwill ¥7.5 billion Consolidated
Goodwill ¥-68.00 million Consolidated
Goodwill and intangible assets accumulated amortization and impairment losses IFRS ¥-15.6 billion Consolidated
Goodwill and intangible assets acquisition cost IFRS ¥27.0 billion Consolidated
Goodwill and intangible assets IFRS ¥11.4 billion Consolidated
Goodwill and intangible assets IFRS ¥11.4 billion Consolidated
Goodwill IFRS ¥7.4 billion Consolidated
Software ¥-13.9 billion Consolidated
Software ¥17.1 billion Consolidated
Software in progress ¥0.3 billion Consolidated
Software in progress IFRS ¥0.3 billion Consolidated
Software IFRS ¥3.2 billion Consolidated
Lease obligations ¥1.0 billion Consolidated
Lease obligations ¥2.2 billion Consolidated
Right of use assets IFRS ¥3.5 billion Consolidated
Retained earnings IFRS ¥64.5 billion Consolidated
Trade and other payables clifrs ¥5.5 billion Consolidated
Trade and other receivables caifrs ¥13.2 billion Consolidated
Furniture and fixtures ¥4.0 billion Consolidated
Furniture and fixtures ¥-2.6 billion Consolidated
Furniture and fixtures IFRS ¥1.4 billion Consolidated
Buildings ¥1.8 billion Consolidated
Buildings ¥-1.0 billion Consolidated
Buildings IFRS ¥0.9 billion Consolidated
Provisions nclifrs ¥0.6 billion Consolidated
Employee benefit expenses ¥2.5 billion Consolidated
Investments accounted for using equity method IFRS ¥0 Consolidated
Property, plant and equipment ¥5.8 billion Consolidated
Property, plant and equipment ¥-3.6 billion Consolidated
Property plant and equipment IFRS ¥2.2 billion Consolidated
Property plant and equipment IFRS ¥2.2 billion Consolidated
Income taxes payable ¥4.3 billion Consolidated
Machinery, equipment ¥13.00 million Consolidated
Machinery, equipment ¥-13.00 million Consolidated
Machinery and equipment IFRS ¥0 Consolidated
Total current liabilities IFRS ¥24.0 billion Consolidated
Current assets IFRS ¥66.8 billion Consolidated
Cash and cash equivalents (IFRS) ¥46.5 billion Consolidated
Cash and cash equivalents (IFRS) ¥46.5 billion Consolidated
Net assets ¥65.2 billion Consolidated
Net assets ¥65.2 billion Consolidated
Total assets ¥92.5 billion Consolidated
Deferred tax assets IFRS ¥2.1 billion Consolidated
Treasury shares IFRS ¥-0.7 billion Consolidated
Equity attributable to owners of parent (IFRS) ¥65.0 billion Consolidated
Liabilities and equity IFRS ¥92.5 billion Consolidated
Liabilities IFRS ¥27.3 billion Consolidated
Share capital IFRS ¥0.9 billion Consolidated
Vehicle and delivery equipment ¥46.00 million Consolidated
Vehicle and delivery equipment ¥-46.00 million Consolidated
Vehicles IFRS ¥0 Consolidated
Non controlling interests IFRS ¥0.2 billion Consolidated
Non current labilities IFRS ¥3.3 billion Consolidated
Non current assets IFRS ¥25.7 billion Consolidated
Customer relationship ¥-0.1 billion Consolidated
Customer relationship ¥0.6 billion Consolidated
Customer related assets IFRS ¥0.5 billion Consolidated
Other ¥53.00 million Parent only
Other ¥39.00 million Parent only
Other ¥0.5 billion Parent only
Other ¥0.2 billion Parent only
Other ¥9.00 million Parent only
Valuation difference on available-for-sale securities ¥0.2 billion Parent only
Other capital surplus ¥0.1 billion Parent only
Software ¥2.8 billion Parent only
Software in progress ¥0.2 billion Parent only
Retained earnings ¥59.4 billion Parent only
Prepaid expenses ¥0.9 billion Parent only
Non-current liabilities ¥0.7 billion Parent only
Non-current assets ¥23.6 billion Parent only
Accounts receivable - trade ¥11.3 billion Parent only
Contract liabilities ¥0.2 billion Parent only
Buildings, net ¥0.7 billion Parent only
Provision for directors' bonuses ¥26.00 million Parent only
Investments and other assets ¥18.5 billion Parent only
Investment securities ¥4.4 billion Parent only
Subscription rights to shares ¥0.3 billion Parent only
Property, plant and equipment ¥2.0 billion Parent only
Accounts receivable - other ¥0.4 billion Parent only
Income taxes payable ¥3.6 billion Parent only
Accrued consumption taxes ¥0.6 billion Parent only
Accrued expenses ¥0.1 billion Parent only
Accounts payable - other ¥4.7 billion Parent only
Shareholders' equity ¥60.8 billion Parent only
Current liabilities ¥25.4 billion Parent only
Current assets ¥63.8 billion Parent only
Intangible assets ¥3.1 billion Parent only
Cash and deposits ¥50.4 billion Parent only
Short-term loans payable ¥13.7 billion Parent only
Short-term loans receivable with resale agreement ¥0.7 billion Parent only
Claims provable in bankruptcy claims provable in rehabilitation and other ¥41.00 million Parent only
Net assets ¥61.3 billion Parent only
Net assets ¥61.3 billion Parent only
Total assets ¥87.5 billion Parent only
Deferred tax assets ¥1.8 billion Parent only
Retained earnings brought forward ¥59.4 billion Parent only
Treasury stock ¥-0.7 billion Parent only
Valuation and translation adjustments ¥0.2 billion Parent only
Liabilities ¥26.2 billion Parent only
Liabilities and net assets ¥87.5 billion Parent only
Accounts payable - trade ¥0.2 billion Parent only
Allowance for doubtful accounts ¥-41.00 million Parent only
Allowance for doubtful accounts ¥-81.00 million Parent only
Capital surplus ¥1.2 billion Parent only
Legal capital surplus ¥1.1 billion Parent only
Capital stock ¥0.9 billion Parent only
Asset retirement obligations ¥0.4 billion Parent only
Provision for bonuses ¥0.8 billion Parent only
Long-term prepaid expenses ¥0.3 billion Parent only
Long term guarantee deposited ¥0.2 billion Parent only
Shares of subsidiaries and associates ¥10.8 billion Parent only
Deposits received ¥1.0 billion Parent only

Statement of income (98 items)

ItemValueConsolidated / Non-consolidated
Other ¥8.1 billion Consolidated
Other ¥-0.2 billion Consolidated
Other ¥1.00 million Consolidated
Other ¥1.00 million Consolidated
Net change in fair value of equity instruments designated as measured at fair value through other comprehensive income net of tax items that will not be reclassified to profit or loss ociifrs ¥-7.00 million Consolidated
Other comprehensive income IFRS ¥26.00 million Consolidated
Other comprehensive income IFRS ¥26.00 million Consolidated
Other income IFRS ¥0.2 billion Consolidated
Other expenses IFRS ¥52.00 million Consolidated
Operating income ¥27.2 billion Consolidated
Operating income ¥27.2 billion Consolidated
Net cash provided by (used in) operating activities ¥25.4 billion Consolidated
Operating expenses IFRS ¥67.0 billion Consolidated
Operating expenses IFRS ¥67.0 billion Consolidated
Exchange differences on translation of foreign operations net of tax items that may be reclassified to profit or loss ociifrs ¥33.00 million Consolidated
Basic earnings loss per share IFRS 95.05 yen Consolidated
Net sales ¥94.1 billion Consolidated
Net sales ¥94.1 billion Consolidated
Revenue from external customers IFRS ¥94.1 billion Consolidated
Diluted earnings loss per share IFRS 95.02 yen Consolidated
Advertising expenses IFRS ¥20.2 billion Consolidated
Provisions interest expenses IFRS ¥47.00 million Consolidated
Profit loss IFRS ¥18.9 billion Consolidated
Profit loss IFRS ¥18.9 billion Consolidated
Profit loss IFRS ¥18.9 billion Consolidated
Comprehensive income (IFRS) ¥18.9 billion Consolidated
Comprehensive income (IFRS) ¥18.9 billion Consolidated
Net income ¥18.8 billion Consolidated
Employee benefit expenses operating expenses IFRS ¥14.1 billion Consolidated
Total transactions with owners IFRS ¥-15.8 billion Consolidated
Net cash provided by (used in) investing activities (IFRS) ¥-11.4 billion Consolidated
Share of profit loss of investments accounted for using equity method IFRS ¥-7.00 million Consolidated
Share of profit loss of investments accounted for using equity method IFRS ¥-7.00 million Consolidated
Commission fees ¥15.2 billion Consolidated
Change in interests in subsidiaries ¥-0.1 billion Consolidated
Issuance of share acquisition rights ssifrs ¥1.00 million Consolidated
Share-based payment transactions ¥0.4 billion Consolidated
Income tax expense IFRS ¥8.5 billion Consolidated
Impairment loss ¥68.00 million Consolidated
Impairment loss ¥68.00 million Consolidated
Foreign exchange loss IFRS ¥9.00 million Consolidated
Net increase decrease in cash and cash equivalents IFRS ¥-4.4 billion Consolidated
Effect of exchange rate changes on cash and cash equivalents IFRS ¥44.00 million Consolidated
Total of items that will not be reclassified to profit or loss ociifrs ¥-7.00 million Consolidated
Total of items that may be reclassified to profit or loss ociifrs ¥33.00 million Consolidated
Profit loss before tax IFRS ¥27.3 billion Consolidated
Profit loss before tax IFRS ¥27.3 billion Consolidated
Profit loss before tax IFRS ¥27.3 billion Consolidated
Comprehensive income attributable to owners of parent IFRS ¥18.8 billion Consolidated
Net cash provided by (used in) financing activities (IFRS) ¥-18.4 billion Consolidated
Dividendsofsurplus ¥-16.0 billion Consolidated
Finance income IFRS ¥0.5 billion Consolidated
Finance income IFRS ¥0.5 billion Consolidated
Finance income IFRS ¥0.5 billion Consolidated
Finance costs IFRS ¥0.3 billion Consolidated
Finance costs IFRS ¥0.3 billion Consolidated
Finance costs IFRS ¥0.3 billion Consolidated
Profit loss attributable to non controlling interests IFRS ¥52.00 million Consolidated
Comprehensive income attributable to non controlling interests IFRS ¥56.00 million Consolidated
Other ¥8.00 million Parent only
Other ¥3.00 million Parent only
Other ¥44.00 million Parent only
Agent fees ¥9.4 billion Parent only
Dividends from surplus ¥-15.8 billion Parent only
Interest and dividend income ¥5.2 billion Parent only
Operating income ¥24.1 billion Parent only
Non-operating income ¥5.3 billion Parent only
Non-operating expenses ¥0.2 billion Parent only
Gain on sales of non-current assets ¥33.00 million Parent only
Cost of sales ¥6.4 billion Parent only
Gross profit (loss) ¥77.8 billion Parent only
Net sales ¥84.1 billion Parent only
Advertising expenses ¥18.5 billion Parent only
Net income (loss) ¥21.8 billion Parent only
Net income (loss) ¥21.8 billion Parent only
Provision for directors' bonuses ¥26.00 million Parent only
Loss on investments in partnership ¥0.1 billion Parent only
Gain on investments in partnership ¥29.00 million Parent only
Loss on valuation of investment securities ¥0.2 billion Parent only
Interest expenses ¥0.1 billion Parent only
Commission fees ¥11.9 billion Parent only
Fiduciary obligation fee ¥91.00 million Parent only
Income taxes - current ¥7.4 billion Parent only
Income taxes ¥7.2 billion Parent only
Income taxes - deferred ¥-0.2 billion Parent only
Depreciation ¥0.2 billion Parent only
Extraordinary income ¥0.2 billion Parent only
Extraordinary loss ¥0.3 billion Parent only
Income (loss) before income taxes ¥29.0 billion Parent only
Ordinary income ¥29.1 billion Parent only
Salaries and allowances ¥6.9 billion Parent only
Disposal of treasury stock ¥0.3 billion Parent only
Selling, general and administrative expenses ¥53.7 billion Parent only
Provision of allowance for doubtful accounts ¥20.00 million Parent only
Provision for bonuses ¥0.6 billion Parent only
Loss on sale of shares of subsidiaries and associates ¥8.00 million Parent only
Gain on sales of shares of subsidiaries and associates ¥0.1 billion Parent only
Loss on valuation of shares of subsidiaries and associates ¥0.1 billion Parent only

Statement of cash flows (26 items)

ItemValueConsolidated / Non-consolidated
Other ¥0.1 billion Consolidated
Other ¥-0.2 billion Consolidated
Other ¥5.00 million Consolidated
Repayments of lease obligations ¥-1.5 billion Consolidated
Interest paid ope cfifrs ¥-46.00 million Consolidated
Interest and dividends received ope cfifrs ¥0.1 billion Consolidated
Interest and dividend income ¥-0.1 billion Consolidated
Increase (decrease) in trade and other payables ¥0.2 billion Consolidated
Decrease (increase) in trade and other receivables ¥0.2 billion Consolidated
Payments for acquisition of subsidiaries inv cfifrs ¥-3.7 billion Consolidated
Proceeds from sale of subsidiaries inv cfifrs ¥0.2 billion Consolidated
Proceeds from withdrawal of time deposits inv cfifrs ¥5.0 billion Consolidated
Payments into time deposits inv cfifrs ¥-10.0 billion Consolidated
Subtotal ¥35.0 billion Consolidated
Purchase of investment securities inv cfifrs ¥-0.1 billion Consolidated
Payments for leasehold deposits and guarantee deposits inv cfifrs ¥-0.2 billion Consolidated
Purchase of property plant and equipment inv cfifrs ¥-0.8 billion Consolidated
Income taxes refund (paid) ¥-9.8 billion Consolidated
Depreciation and amortization ¥4.3 billion Consolidated
Impairment losses reversal of impairment losses ope cfifrs ¥75.00 million Consolidated
Purchase of intangible assets inv cfifrs ¥-1.9 billion Consolidated
Decrease/increase in short-term loans payable ¥-10.00 million Consolidated
Dividends ¥-15.8 billion Consolidated
Repayments of long term borrowings fin cfifrs ¥-0.7 billion Consolidated
Payments for acquisition of interests in subsidiaries from non-controlling interests ¥-0.1 billion Consolidated
Dividends paid to non controlling interests fin cfifrs ¥-0.1 billion Consolidated

Statement of changes in equity (2 items)

ItemValueConsolidated / Non-consolidated
Total changes during the period ¥6.4 billion Parent only
Net changes in items other than shareholders' equity ¥0.1 billion Parent only
Basic indicators
ItemValueConsolidated / Non-consolidatedSource
Net cash provided by (used in) operating activities ¥25.4 billion ConsolidatedDisclosed
Dividend per share 50 Parent onlyDisclosed
Number of employees 1,421 ConsolidatedDisclosed
Net assets ¥65.2 billion ConsolidatedDisclosed
Net sales ¥94.1 billion ConsolidatedDisclosed
Operating income ¥27.2 billion ConsolidatedDisclosed
Ordinary income ¥29.1 billion Parent onlyDisclosed
Net income ¥18.8 billion ConsolidatedDisclosed
Total assets ¥92.5 billion ConsolidatedDisclosed
Operating margin 28.9%ConsolidatedCalculated
Net margin 20.0%ConsolidatedCalculated
Sales per employee 66239972 yenConsolidatedCalculated
Total asset turnover 1.02 timesConsolidatedCalculated
Net assets to total assets 70.5%ConsolidatedCalculated
How to read the figures, and caveats

Terms

  • Consolidated: the parent company together with the subsidiaries it consolidates
  • Parent-only: the single company that filed the annual securities report
  • Calculated: a disclosed figure put through the formula shown
  • Not disclosed: no such value in the filing (not treated as zero)
  • Not retrieved: a value this page could not extract, including values in the filing that could not be matched. The same item may appear in another table
  • Segment: a business division the company uses in its disclosures
  • Industry median: the middle value among companies in the same industry that disclose the item
  • ★: position when every company is lined up by value (not a judgement of the company)See the formulas
  • Source: document name, period covered, filing date and where it was obtained
  • Tables scroll sideways

Key figures

  • Operating margin 28.9% Operating income ÷ net sales  = ¥27.2 billion ÷ ¥94.1 billion
    Operating income ÷ net sales. The denominator is Net sales (Consolidated, IFRS).
  • Net margin 20% Net income ÷ net sales  = ¥18.8 billion ÷ ¥94.1 billion
    Net income ÷ net sales. The denominator is Net sales (Consolidated, IFRS).
  • Sales per employee 66,239,972 yen Sales or operating revenue ÷ employees  = ¥94.1 billion ÷ 1,421 people
    Sales or operating revenue ÷ employees. The denominator is Number of employees (Consolidated, Japanese GAAP).
  • Total asset turnover 1.02 times Sales or operating revenue ÷ total assets  = ¥94.1 billion ÷ ¥92.5 billion
    Sales or operating revenue ÷ total assets. The denominator is Total assets (Consolidated, IFRS).
  • Net assets to total assets 70.5% Net assets ÷ total assets  = ¥65.2 billion ÷ ¥92.5 billion
    Net assets ÷ total assets. The denominator is Total assets (Consolidated, IFRS).

Company details

  • Representative President, Representative Director, gBizINFO

Revenue and profit by business segment

  • Source: segment information, Annual Securities Report (Apr 2025 to Mar 2026) · Consolidated · Net sales to external customers · filed 2026-06-17
  • Share: against the total of Net sales to external customers disclosed by business (100%). Adjustments, corporate, eliminations and “other” left out as they are not businesses (so no match with company-wide Net sales to external customers). Margin: calculated against the Net sales to external customers on the same row“報告セグメント計” in the segment information of the annual securities report: ¥94.1 billion. Gap against this table’s total (the part not listed as a business, such as “other”) within 1%The account may differ from “Revenue” at the top of this pageProfit share: not shown (one or more loss-making businesses)

Amounts by account

  • Totals and their component lines together; consolidated and parent-only figures mixed (right-hand column)

Selling, general and administrative expenses

  • Breakdown of selling, general and administrative expenses (costs of selling and running the company). Cost of sales not included
  • Each item: already inside the SG&A total (not added to it)

Finance

  • Net assets to total assets Net assets ÷ total assets
  • Return on assets (ROA) Net income ÷ total assets (consolidated)
  • Net assets per share Parent only
  • Free cash flow Free cash flow: operating cash flow (cash generated by the business) plus investing cash flow (asset purchases, disposals and other investments), consolidated
  • Total assets Consolidated
  • Goodwill (the part of the acquisition price above the net assets acquired) 11% of net assets (consolidated)

Capital allocation

  • ★: position when all companies are sorted by value and cut into fifths (a position, not a rating). The five items with ★: only where both numerator and denominator are available on a consolidated basisSee the formulas
  • Cash conversion Net cash provided by (used in) operating activities ÷ operating income
  • Property, plant and equipment purchases relative to depreciation Purchase of property, plant and equipment ÷ depreciation。Purchase of property, plant and equipment ¥0.8 billion, over depreciation ¥4.3 billion
  • Return to shareholders (dividends paid + purchase of treasury stock) ÷ net cash provided by operating activities。Dividends paid ¥15.8 billion (no treasury stock purchase disclosed), over operating cash flow ¥25.4 billion

Long-term changes in performance

  • Revenue Disclosed value for 2026 ÷ disclosed value for 2013

Year-on-year comparison

  • Year on year: calculated only where the item, reporting range and accounting standard match and the periods are consecutive
  • Comparison basis not confirmed: periods with a change of accounting standard or reporting range, a moved fiscal year end, or an unconfirmed period
  • ◆: a period where revenue moved 20% or more from the prior year, profit as a share of revenue moved 2.0 percentage points or more, or profit or loss changed sign. Item used named in the table and list. Not a ranking of companies

Earnings and net assets per share over time

  • Earnings per share = net profit ÷ shares; net assets per share = net assets ÷ shares. Disclosed values from the key financial indicators of the annual securities report. No share prices used

Dividend history

  • Payout ratio: dividends as a proportion of net profit. Dividend amounts and payout ratios: the reporting company’s parent-only disclosed values (as written in the annual securities report, not recalculated from consolidated profit). Consecutive increases: years in a row, from the latest backwards, in which the annual dividend per share rose. Consecutive years with a dividend: years in a row with an annual dividend per share above zero. Both this site’s own count (not the criteria of any published index). A year with no disclosure not read as zero; counting stops there. Range limited to the years listed above. Flagged 1 years: a note about a stock split or share consolidation, or a period other than 12 months. No calculation across those years, as the dividend per share may rest on a different share base.

Share ownership by holder category

  • Source: ownership table, annual securities report. Percentages as disclosed, calculated on trading units (some companies do not total exactly 100%). Foreign holders (total): institutions and individuals combined. “Individuals and others”: a register category (not necessarily the share actually held by individuals). Industry median: the middle value among companies in Services that disclose the item (industries with at least 5 companies only).

Major shareholders

  • Source: major shareholders table, annual securities report. Trust bank holdings as written (whose trust is not disclosed)

Research and development expenses and capital expenditure

  • Research and development: total in the R&D section of the annual securities report. Capital expenditure: this year’s actual spending in the capital expenditure overview (not a plan). Years: only those available in the annual securities reports on hand (one to four per company); no row for other years. Share of revenue: divided by consolidated revenue in the same annual securities report. Industry median: the middle value among companies in Services that disclose the item (industries with at least 5 companies only).

Revenue scale in the same industry

  • Revenue (disclosed values) of companies in the same industry, using the same grouping as the industry pages. Only the top three and the two companies either side of this one. Bar length relative to the largest company (100). An order of size, not a ranking of quality

Workforce information

  • All four: the reporting company (parent-only), as disclosed in the employee section of the annual securities report. Employees across the consolidated group: 1,421 (a different scope, kept apart from the four above). Industry median: the middle value among companies in Services that disclose the item (industries with at least 5 companies only).

People and organisation

  • Sales per employee Net sales (or operating revenue) ÷ employees
  • Operating income per employee Operating income ÷ employees
  • Wage gap between men and women Women's pay with men's pay set to 100, reporting company
  • Women in managerial positions Reporting company (parent only)
  • Share of female employees gBizINFO, covering 正社員
  • Men taking childcare leave Reporting company (parent only)
  • Employees by gender gBizINFO
  • Female officers gBizINFO: 2 women among 18 officers
  • Average temporary staff Consolidated, average headcount other than regular employees

Workplace information filings

  • Source: processed from Shokuba-labo, the workplace information site of the Ministry of Health, Labour and Welfare. Items the company filed only Shokuba-labo

Audit and disclosure information

  • Whether there is a going concern note (the accounting assumption that a company will continue operating), and audit information
  • Audit firm, audit fees, going concern note and accounting standard: facts written in the latest annual securities report and the audit report filed with it (not a judgement of the company). Going concern note: “note” when the note text is present, “not applicable” when the report states nothing to report, “cannot be determined” when neither appears. Note text not reproduced. Amended filings not shown (annual securities reports only)

Data sources and calculation methods

Primary source: the annual securities report of Kakaku.com,Inc. on EDINET, the FSA’s disclosure system (free to read)
Corporate number: 9011001065997 / Accounting standard: IFRS

  • Amounts: machine transcription of EDINET XBRL (no manual re-keying). Long narrative notes are text and not in the account list. Identifiers: machine transcription of the EDINET code list (retrieved 2026-08-22)
  • ★: position of the value calculated from disclosed figures among the 4,240 companies on this site, on a five-step scale. Not a judgement of the company. No forecasts usedThe formulas and how they are counted
  • No rank: net assets as a share of total assets, cash conversion and revenue per employee (size alone does not show quality). Industry median shown for comparison. Cash conversion of 100%: operating cash flow equal to operating profit
  • Profit-and-loss chart: only where “sales − cost of sales − SG&A = operating income” holds between disclosed values. Cost breakdown: the six largest SG&A items
  • Trend charts: key financial indicators of the annual securities report. Amounts in billions of yen (dividend per share in yen). Long-run chart joins reports filed in different years (newer report for overlapping years). Some items stop part-way after a change of accounting standard. A stock split changes the weight of one share. Consolidated and parent-only in separate tables
  • Revenue scale in the same industry: bars of revenue (disclosed values) of companies in the same industry grouping as the industry pages, largest first. Only the top three and the two companies either side of this one. Each company’s latest fiscal year. An order of size, not a ranking of quality or an investment view
  • Share prices: not published (no data source allows redistribution). No share-price-based indicators (such as the price earnings ratio) and no extension of past growth into the future
  • Average age, average length of service and average annual salary: the reporting company alone (the parent). At a holding company, a small head-office staff. Payout ratio (basic facts): dividend per share ÷ consolidated earnings per share, calculated here (the payout ratio in the annual securities report is the reporting company’s figure, on a different basis). Representative and founding date: gBizINFO (Ministry of Economy, Trade and Industry), some companies only
  • “Retrieved disclosed figures”: every value readable as a number from the annual securities report. Company-wide values only (no segment or other breakdowns)
  • Segment table: machine transcription of the segment information in the annual securities report. Business names as labelled by the company in its XBRL. No table where segment sales differ from the disclosed total by more than 1%. Adjustments, corporate, eliminations and “other” left out of the table and the share denominator, as they are not businesses
  • Breakdowns of amounts, not diagrams of how the business works. Who pays whom, and for what, is not in the disclosed figures; no lines drawn from guesswork
  • No reproduction of the book’s content. Figures from the same filings; text written separately