Ano Kaisha no Shikumi
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KOBE BUSSAN

KOBE BUSSAN CO., LTD.

Company highlights

A food factory wearing the face of a supermarket.

Vol.1, Chapter 6 (as of 2026-08-14)

Key figures

Period Nov 2024 to Oct 2025ConsolidatedJapanese GAAP

RevenueDisclosed ¥551.7B
Operating marginCalculated 7.2%
Net assets to total assetsCalculated 62.0%

Business revenue model

Featured in

Vol.1, Chapter 6 (as of 2026-08-14)

“Kaisha no Shikumi: Dividends”, Chapter 6: Gyomu Super: Looks Like a Supermarket, Runs Like a Food Factory

Book’s reference date 2026-08-14 / data last checked 2026-10-20

Key points in this volumeDividends are produced by structure, not by performance.

For the year ended October 2025, Kobe Bussan (Gyomu Super) had net sales of ¥551.7 billion and operating income of ¥39.9 billion. Operating income was 7.2% of net sales. Of its 1,122 shops, only 4 are company-operated; the rest belong to franchise owners (calculated).

The reason things are cheap lies outside the shop, in its own factories and direct imports. Even so, goods made in group factories are about 10% of sales, and adding direct imports brings that to 1 in 3. What works is not the share of sales but how much gross margin can be taken.

Figures from the book

How money moves at Kobe Bussan: only 4 of 1,122 shops are company-operated, and head office holds its own factories and direct imports
How money moves at Gyomu Super (figure from Chapter 6 of “Kaisha no Shikumi: Dividends”, year ended October 2025, in Japanese)

The Move That Changed Kobe Bussan

Rather than adding stores, the company buys factories and widens the range of goods it can make itself.

Before March 2008, Kobe Bussan had no food factories of its own in Japan. It had set up group factories in China in 1992 and 2004, but in Japan it was a company built on importing and wholesaling. In March 2008 it acquired 100% of the interests and shares of two companies, Uebos and Turmelt Foods, making them subsidiaries. From there began a run of regional food factories brought into the group: Hokuto Foods in 2012, Sekihara Shuzo in 2013, Kikukawa in 2014. In 2020 it took over the businesses of Sarani and Fruitier, and in 2025 it acquired Uehara Foods for ¥700 million ($4.38 million). In April 2026 Hakuro Shuzo joined through a sub-subsidiary. Alongside the acquisitions, it also set up factories of its own. The company calls this its "integrated food production and sales structure." As of the end of April 2026 the group has 28 factories. For the year ended October 2025, sales were ¥551.7 billion ($3.45 billion) and Gyomu Super had 1,122 stores, four of them company-operated.

Coverage in the book

  • Four of 1,122 Stores Are Company-Operated
  • Head Office Receives 1% of Purchases, and the Price of the Goods It Wholesales
  • 96.2% of Sales Is the Gyomu Super Business
  • Two Things That Can Be Established Around the 8.2% Margin
  • The Dividend Looks Like a Cut but Is an Increase

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Company profile

Securities code 3038 / EDINET code E02999 / Wholesale Trade / Fiscal year end October 31

加古川市加古川町平野125番1/Capital stock ¥500 million
Address, capital stock, fiscal year end and industry: the FSA’s EDINET code list.

Company details
沼田 博和 Representative
25 Consolidated subsidiaries

Tables scroll sideways

Disclosed data

Source: Annual Securities Report (Nov 2024 to Oct 2025) · filed 2026-01-28

Profitability ★★★☆☆position among all companies 7.2%
Growth (revenue, 4-year average) ★★★★☆position among all companies 11.1%
Capital efficiency ★★★★★position among all companies 22.2%

Business activities and revenue composition

KOBE BUSSAN

Revenue and profit by business segment

Period Nov 2024 to Oct 2025Source Annual securities reportsConsolidated・Disclosed

SalesProfit 業務スーパー事業業務スーパー事業 Sales 96.2% 96% Profit 95.2% 95% 外食・中食事業外食・中食事業 Sales 3.0% 3% Profit 2.4% 2% エコ再生エネルギー事業エコ再生エネルギー事業 Sales 0.8% 1% Profit 2.4% 2%
BusinessNet sales to external customers Operating income
This yearShareLast year This yearShareMarginLast year
業務スーパー事業 ¥530.5 billion 96.2% ¥489.1 billion ¥43.5 billion 95.2% 8.2% ¥37.4 billion
外食・中食事業 ¥16.5 billion 3.0% ¥14.1 billion ¥1.1 billion 2.4% 6.7% ¥1.0 billion
エコ再生エネルギー事業 ¥4.7 billion 0.8% ¥4.6 billion ¥1.1 billion 2.4% 23.3% ¥1.1 billion
Total of the businesses ¥551.7 billion100.0% ¥45.7 billion 100.0%

Revenue and profit

KOBE BUSSAN

Period Nov 2024 to Oct 2025Source Annual securities reports

Net sales and operating revenue ¥551.7B 100% Cost of sales ¥485.2B 88% Selling, general and administrative expenses ¥26.6B 5% Operating income ¥39.9B 7%
Amounts by account
GroupAccountAmountConsolidated / Non-consolidated
Selling, general and administrative expenses Freightage expenses ¥9.1 billion Consolidated
Other ¥5.9 billion Consolidated
Rents ¥1.3 billion Consolidated
Depreciation ¥1.2 billion Consolidated
Legal welfare expenses ¥0.8 billion Consolidated
Promotion expenses ¥0.4 billion Consolidated
Provision for bonuses ¥0.4 billion Consolidated
Advertising expenses ¥0.3 billion Consolidated
Retirement benefit expenses ¥0.1 billion Consolidated
Amortization of goodwill ¥90.00 million Consolidated
Provision for management board incentive plan trust ¥32.00 million Consolidated
Provision of allowance for doubtful accounts ¥-13.00 million Consolidated
Profit by stage Gross profit (loss) ¥66.5 billion Consolidated
Ordinary income ¥48.1 billion Consolidated
Operating income ¥39.9 billion Consolidated
Net income ¥31.9 billion Consolidated

KOBE BUSSAN

Selling, general and administrative expenses

Period Nov 2024 to Oct 2025Source Annual securities reports

Freightage expenses ¥9.1 billion (34.3%)34%Other ¥5.9 billion (22.1%)22%Rents ¥1.3 billion (5.0%)Depreciation ¥1.2 billion (4.6%)Legal welfare expenses ¥0.8 billion (2.9%)Promotion expenses ¥0.4 billion (1.5%)Other (not itemized) ¥7.9 billion (29.5%)30%¥26.6B
  • Freightage expenses ¥9.1 billion
  • Other ¥5.9 billion
  • Rents ¥1.3 billion
  • Depreciation ¥1.2 billion
  • Legal welfare expenses ¥0.8 billion
  • Promotion expenses ¥0.4 billion
  • Other (not itemized) ¥7.9 billion

Performance, financial position and capital allocation

Finance
62.0% Net assets to total assets Industry median 50.6% FY ending 10/2025 · consolidated / calculated
12.3% Return on assets (ROA)
¥709.8 Net assets per share
¥33.2 billion Free cash flow
¥260.2 billion Total assets
¥0.5 billion Goodwill (the part of the acquisition price above the net assets acquired)
Capital allocation
106.0% Cash conversion Industry median 94.2% FY ending 10/2025 · consolidated / calculated
-0.0% Increase in working capital ★★☆☆☆ position among all companies FY ending 10/2025 · consolidated / calculated
138.6% Property, plant and equipment purchases relative to depreciation ★★★★☆ position among all companies FY ending 10/2025 · consolidated / calculated
12.1% Return to shareholders ★★☆☆☆ position among all companies FY ending 10/2025 · consolidated / calculated
-3.0% Extraordinary gains and losses relative to ordinary profit ★★☆☆☆ position among all companies FY ending 10/2025 · consolidated / calculated
0.0% Investment securities to net assets ★☆☆☆☆ position among all companies FY ending 10/2025 · consolidated / calculated

Long-term changes in performance

Period 2012 to 2025Disclosed

Revenue ×3.50 from 2012 to 2025

KOBE BUSSAN

Long-term revenue, profit and asset trends

Period 2012 to 2025Source Annual securities reportsDisclosed

Mark on the chart
552 368 184 0 2012 2014 2016 2018 2020 2022 2024 2025 Net sales and operating revenue Ordinary income 2025 Ordinary income (loss) as a share of revenue +2.5 points 552Latest value 2025 552¥ billion 552Highest in the period shown 2025 552¥ billion 157Lowest in the period shown 2012 157¥ billion ¥ billion

KOBE BUSSAN

Recent performance trends

Source Annual securities reports

552 368 184 0 4 years ago 3 years ago 2 years ago Last year This year Net sales and operating revenue Ordinary income ¥ billion

Year-on-year comparison

Period 2021 to 2025Disclosed

Item20212022202320242025
Net sales ¥362.1B ¥406.8B ¥461.5B ¥507.9B ¥551.7B
Year on year (%) Could not be retrieved +12.4% +13.5% +10.0% +8.6%
Ordinary income (loss) ¥29.1B ¥32.1B ¥30.0B ¥31.6B ¥48.1B
Change from prior year Could not be retrieved +10.4% -6.7% +5.4% +52.3%
Ordinary income (loss) as a share of Net sales 8.0% 7.9% 6.5% 6.2% 8.7%
Change (percentage points) Could not be retrieved -0.1 points -1.4 points -0.3 points +2.5 points◆

Fiscal periods marked for changes

  • 2025Ordinary income (loss) as a share of revenue +2.5 points

KOBE BUSSAN

Earnings and net assets per share over time

Unit yenSource Annual securities reports

144 96 48 0 4 years ago 3 years ago 2 years ago Last year This year Earnings per share yen 710 473 237 0 4 years ago 3 years ago 2 years ago Last year This year Net assets per share yen

KOBE BUSSAN

Return on equity over time

Unit %Source Annual securities reports

29 19 10 0 4 years ago 3 years ago 2 years ago Last year This year Return on equity (ROE, %)
Consolidated indicators (15 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥362.1 billion ¥406.8 billion ¥461.5 billion ¥507.9 billion ¥551.7 billion
Ordinary income (loss) ¥29.1 billion ¥32.1 billion ¥30.0 billion ¥31.6 billion ¥48.1 billion
Net income (loss) attributable to owners of parent ¥19.6 billion ¥20.8 billion ¥20.6 billion ¥21.4 billion ¥31.9 billion
Comprehensive income ¥20.1 billion ¥21.9 billion ¥20.0 billion ¥21.4 billion ¥31.9 billion
Net assets ¥78.2 billion ¥97.2 billion ¥114.5 billion ¥132.8 billion ¥161.4 billion
Total assets ¥156.7 billion ¥180.3 billion ¥211.9 billion ¥233.4 billion ¥260.2 billion
Net assets per share 350.49 yen 433.53 yen 506.23 yen 584.81 yen 709.8 yen
Basic earnings (loss) per share 90.48 yen 95.35 yen 93.59 yen 97.09 yen 143.98 yen
Diluted earnings per share 88.52 yen 93.87 yen 92.51 yen 96.41 yen 143.11 yen
Equity-to-asset ratio 48.8% 52.7% 52.7% 55.4% 60.5%
Return on equity 29.2% 24.3% 19.9% 17.8% 22.2%
Net cash provided by (used in) operating activities ¥21.3 billion ¥21.6 billion ¥30.3 billion ¥30.8 billion ¥42.1 billion
Net cash provided by (used in) investing activities ¥-17.4 billion ¥-12.5 billion ¥-6.8 billion ¥-10.2 billion ¥-8.9 billion
Net cash provided by (used in) financing activities ¥-16.5 billion ¥-3.8 billion ¥80.00 million ¥-5.6 billion ¥-11.1 billion
Cash and cash equivalents ¥56.7 billion ¥65.8 billion ¥91.3 billion ¥107.3 billion ¥130.5 billion
Parent only indicators (14 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥370.8 billion ¥395.1 billion ¥446.9 billion ¥491.0 billion ¥530.5 billion
Ordinary income (loss) ¥24.7 billion ¥28.8 billion ¥26.0 billion ¥28.0 billion ¥41.0 billion
Net income (loss) ¥16.7 billion ¥19.7 billion ¥17.8 billion ¥19.4 billion ¥27.7 billion
Capital stock ¥0.5 billion ¥0.5 billion ¥0.5 billion ¥0.5 billion ¥0.5 billion
Total number of issued shares (common stock) 273,600,000 shares 273,600,000 shares 273,600,000 shares 273,600,000 shares 273,600,000 shares
Net assets ¥66.7 billion ¥83.4 billion ¥98.5 billion ¥114.9 billion ¥139.3 billion
Total assets ¥146.0 billion ¥168.1 billion ¥196.0 billion ¥215.4 billion ¥236.8 billion
Net assets per share 297.64 yen 370.54 yen 433.96 yen 503.91 yen 610.2 yen
Dividend per share 20 yen 22 yen 22 yen 23 yen 30 yen
Basic earnings (loss) per share 77.15 yen 90.02 yen 81.09 yen 88.03 yen 125.27 yen
Diluted earnings per share 75.47 yen 88.63 yen 80.15 yen 87.42 yen 124.51 yen
Equity-to-asset ratio 44.5% 48.3% 48.9% 51.8% 57.1%
Return on equity 29.2% 26.9% 20.1% 18.8% 22.5%
Payout ratio 25.9% 24.4% 27.1% 26.1% 23.9%

Dividend history

Source: reporting company’s key figures, annual securities reports · 5 years (2021 to 2025)Parent-onlyDisclosed

2 periods Consecutive increases (own definition) through FY ending 10/2025
5 periods Consecutive periods with dividends (site definition) through FY ending 10/2025
+30.4% Dividend growth (year on year)
Fewer than six years Dividend growth (5-year annual rate)
Fiscal yearAnnual dividend per share Of which interimPayout ratio (as reported, parent only) Flag
FY ending 10/2025 ¥30 Could not be retrieved 23.9%
FY ending 10/2024 ¥23 Could not be retrieved 26.1%
FY ending 10/2023 ¥22 Could not be retrieved 27.1%
FY ending 10/2022 ¥22 Could not be retrieved 24.4%
FY ending 10/2021 ¥20 Could not be retrieved 25.9%

KOBE BUSSAN

Dividends per share over time

Unit yenSource Annual securities reports

30 20 10 0 4 years ago 3 years ago 2 years ago Last year This year Dividend per share yen

Shareholder composition

As of 2025-10-31Disclosed

Share ownership by holder category

66,613 Shareholders
18.17% Foreign holders (total) Industry median 4.70%
37.15% Individuals and others Industry median 48.66%

KOBE BUSSAN

Unit %Source Annual securities reports

  • Financial institutions11.41%
  • Securities firms0.95%
  • Other corporations32.32%
  • Foreign holders (institutions)18.08%
  • Foreign holders (individuals)0.09%
  • Individuals and others37.15%

Major shareholders

RankShareholderShareholding ratioShares held
1 公益財団法人業務スーパージャパンドリーム財団 31.71% 70,400,000
2 日本マスタートラスト信託銀行株式会社(信託口) 8.49% 18,843,000
3 特定有価証券信託受託者 株式会社SMBC信託銀行 2.63% 5,837,000
4 株式会社コッコラーレ 2.57% 5,710,000
5 株式会社日本カストディ銀行(信託口) 1.89% 4,206,000
6 沼田 博和 1.71% 3,796,000
7 合同会社M&Uアセットマネジメント 1.64% 3,650,000
8 STATE STREET BANK WEST CLIENT - TREATY 505234(常任代理人 株式会社みずほ銀行決済営業部) 1.64% 3,640,000
9 STATE STREET BANK AND TRUST COMPANY 505001(常任代理人 株式会社みずほ銀行決済営業部) 1.53% 3,402,000
10 CACEIS IRLAND BRANCH / UCITS - TREATY(常任代理人 シティバンク、エヌ・エイ東京支店) 1.48% 3,284,000

Research and development expenses and capital expenditure

Source: R&D and capital expenditure sections, annual securities reports · 1 years (FY 2025)Disclosed

Not disclosed Research and development
¥9.3 billion Capital expenditure 1.7% of revenue (industry median 1.1%)

Revenue scale in the same industry

KOBE BUSSAN

Source Annual securities reports of each company

Wholesale Trade: 330 companies · revenue · largest first・each company’s latest fiscal year・Consolidated・Disclosed

  • 1 MitsubishiFY Mar 2026 ¥18.9T
  • 2 ITOCHUFY Mar 2026 ¥14.8T
  • 3 MITSUI &FY Mar 2026 ¥14.0T
  • … 35 companies
  • 39 KAMEIFY Mar 2026 ¥583.1B
  • 40 IDOMFY Feb 2026 ¥562.8B
  • 41 KOBE BUSSANThis companyFY Oct 2025 ¥551.7B
  • 42 YUASAFY Mar 2026 ¥545.0B
  • 43 YAMAZENFY Mar 2026 ¥541.9B
  • … 287 companies

Workforce information

Source: Annual Securities Report (Nov 2024 to Oct 2025)Parent-onlyDisclosed

610 Employees (parent only) Industry median 228
38.5 Average age Industry median 42.3
7.9 years Average length of service Industry median 13.8 years
¥5.30 million Average annual salary Industry median ¥6.79 million
People and organisation
329.6¥ million Sales per employee Industry median 101.7¥ million FY ending 10/2025 · consolidated / calculated
¥23.82 million Operating income per employee
54.0% Wage gap between men and women
10.4% Women in managerial positions
50.0% Share of female employees
83.3% Men taking childcare leave
1,281 Average temporary staff

Administrative filings and published information

Workplace information filings

Filed 2026-04-23Disclosed

ItemValue
Employees 2,900
Annual paid leave taken
Scope: 正社員
84.1%

Greenhouse gas emissions

Reported to the government for fiscal 2023Disclosed

CategoryEmissions
特定事業所排出者236,625 t-CO2

Audit and disclosure information

Annual securities report, year ended 2025-10-31Disclosed

ItemValue
Audit firm 有限責任監査法人トーマツ
Audit fees (this year, total) ¥62.00 million
Non-audit fees (this year, total) Not applicable
Non-audit fees (this year, network firms) ¥1.00 million
Going concern note Cannot be determined
Accounting standard Japanese GAAP

Sources and methodology

Retrieved disclosed figures

Accounts and values from the annual securities report, by section

Major management indicators (5 years) (29 items)

ItemValueConsolidated / Non-consolidated
Comprehensive income ¥31.9 billion Consolidated
Net cash provided by (used in) operating activities ¥42.1 billion Consolidated
Net sales ¥551.7 billion Consolidated
Net cash provided by (used in) investing activities ¥-8.9 billion Consolidated
Diluted earnings per share 143.11 yen Consolidated
Cash and cash equivalents ¥130.5 billion Consolidated
Net assets ¥161.4 billion Consolidated
Ordinary income (loss) ¥48.1 billion Consolidated
Total assets ¥260.2 billion Consolidated
Return on equity 22.2% Consolidated
Equity-to-asset ratio 60.5% Consolidated
Net income (loss) attributable to owners of parent ¥31.9 billion Consolidated
Net cash provided by (used in) financing activities ¥-11.1 billion Consolidated
Basic earnings (loss) per share 143.98 yen Consolidated
Net assets per share 709.8 yen Consolidated
Dividend per share 30 yen Parent only
Net sales ¥530.5 billion Parent only
Net income (loss) ¥27.7 billion Parent only
Diluted earnings per share 124.51 yen Parent only
Total number of issued shares (common stock) 273,600,000 shares Parent only
Net assets ¥139.3 billion Parent only
Ordinary income (loss) ¥41.0 billion Parent only
Total assets ¥236.8 billion Parent only
Return on equity 22.5% Parent only
Equity-to-asset ratio 57.1% Parent only
Capital stock ¥0.5 billion Parent only
Payout ratio 23.9% Parent only
Basic earnings (loss) per share 125.27 yen Parent only
Net assets per share 610.2 yen Parent only

Employees (11 items)

ItemValueConsolidated / Non-consolidated
Number of employees 1,674 people Consolidated
Number of employees 1,674 people Consolidated
Wage gap between men and women (all employees) 54.0% Parent only
Average length of service (years) 7.9 years Parent only
Average annual salary ¥5.30 million Parent only
Average age (years) 38.5 years old Parent only
Number of employees 610 people Parent only
Number of employees 610 people Parent only
Number of employees 610 people Parent only
Wage gap between men and women (regular employees) 70.4% Parent only
Wage gap between men and women (non-regular employees) 122.4% Parent only

Other disclosed items (12 items)

ItemValueConsolidated / Non-consolidated
Net sales to external customers ¥551.7 billion Consolidated
Average number of temporary employees 1,281 people Consolidated
Average number of temporary employees 1,281 people Consolidated
Increase in property plant and equipment and intangible assets ¥9.3 billion Consolidated
Depreciation ¥6.6 billion Consolidated
Number of consolidated subsidiaries 25 companies Consolidated
Rate of male employees taking childcare leave (all employees) 83.3% Parent only
Average number of temporary employees 683 people Parent only
Average number of temporary employees 683 people Parent only
Average number of temporary employees 683 people Parent only
Total return on the share price index 238.0% Parent only
Ratio of female employees in managerial positions 10.4% Parent only

Shares (12 items)

ItemValueConsolidated / Non-consolidated
Number of shares held 122,771,000 shares Consolidated
Total number of shares held treasury shares etc 51,607,800 shares Consolidated
Number of issues whose number of shares decreased shares other than those not listed investment shares held for purposes other than pure investment reporting company 1 issues Consolidated
Total sale amount for decreased shares shares other than those not listed investment shares held for purposes other than pure investment reporting company ¥0.4 billion Consolidated
Number of shares 273,600,000 shares Consolidated
Shareholding ratio treasury shares etc 18.9% Consolidated
Shareholding ratio 55.3% Consolidated
Number of shares held in own name treasury shares etc 51,607,800 shares Consolidated
Number of voting rights 2,218,920 units Consolidated
Carrying amount on the balance sheet ¥3.00 million Consolidated
Number of issues 3 issues Consolidated
Total shareholder return 125.4% Parent only

Property and facilities (1 items)

ItemValueConsolidated / Non-consolidated
Capital expenditures ¥9.3 billion Consolidated

Audit (4 items)

ItemValueConsolidated / Non-consolidated
Fees for audit and attestation services - reporting company ¥62.00 million Consolidated
Fees for audit and attestation services - total ¥62.00 million Consolidated
Fees for non-audit services - reporting company ¥1.00 million Consolidated
Fees for non-audit services - total ¥1.00 million Consolidated

Balance sheet (130 items)

ItemValueConsolidated / Non-consolidated
Other ¥0.6 billion Consolidated
Other ¥3.1 billion Consolidated
Other ¥4.6 billion Consolidated
Other ¥7.5 billion Consolidated
Other ¥3.8 billion Consolidated
Other ¥1.2 billion Consolidated
Other, net ¥1.1 billion Consolidated
Goodwill ¥0.5 billion Consolidated
Goodwill ¥0.5 billion Consolidated
Work in process ¥0.4 billion Consolidated
Retained earnings ¥152.2 billion Consolidated
Raw materials and supplies ¥1.8 billion Consolidated
Merchandise and finished goods ¥17.6 billion Consolidated
Non-current liabilities ¥39.4 billion Consolidated
Non-current assets ¥75.3 billion Consolidated
Land ¥23.7 billion Consolidated
Accounts receivable - trade ¥30.2 billion Consolidated
Buildings and structures ¥32.0 billion Consolidated
Buildings and structures, net ¥18.5 billion Consolidated
Construction in progress ¥2.2 billion Consolidated
Provision for management board incentive plan trust-NCL ¥0.2 billion Consolidated
Investments and other assets ¥7.3 billion Consolidated
Investment securities ¥8.00 million Consolidated
Lease and guarantee deposits ¥1.7 billion Consolidated
Subscription rights to shares ¥4.0 billion Consolidated
Property, plant and equipment ¥66.2 billion Consolidated
Income taxes payable ¥10.1 billion Consolidated
Shareholders' equity ¥158.1 billion Consolidated
Machinery, equipment and vehicles ¥48.4 billion Consolidated
Machinery, equipment and vehicles, net ¥20.7 billion Consolidated
Current liabilities ¥59.4 billion Consolidated
Current assets ¥184.9 billion Consolidated
Accumulated depreciation ¥-3.4 billion Consolidated
Accumulated depreciation ¥-13.5 billion Consolidated
Accumulated depreciation ¥-27.7 billion Consolidated
Foreign currency translation adjustment ¥-0.7 billion Consolidated
Intangible assets ¥1.7 billion Consolidated
Cash and cash equivalents ¥130.5 billion Consolidated
Cash and deposits ¥131.0 billion Consolidated
Short-term loans payable ¥3.1 billion Consolidated
Net assets ¥161.4 billion Consolidated
Net assets ¥161.4 billion Consolidated
Total assets ¥260.2 billion Consolidated
Total assets ¥260.2 billion Consolidated
Deferred tax liabilities ¥0.5 billion Consolidated
Deferred tax assets ¥2.7 billion Consolidated
Treasury stock ¥-8.9 billion Consolidated
Valuation and translation adjustments ¥-0.7 billion Consolidated
Liabilities ¥98.8 billion Consolidated
Liabilities and net assets ¥260.2 billion Consolidated
Accounts payable - trade ¥38.0 billion Consolidated
Allowance for doubtful accounts ¥-0.5 billion Consolidated
Allowance for doubtful accounts ¥-3.00 million Consolidated
Capital surplus ¥14.3 billion Consolidated
Capital stock ¥0.5 billion Consolidated
Asset retirement obligations ¥1.9 billion Consolidated
Provision for bonuses ¥0.6 billion Consolidated
Net defined benefit liability ¥0.9 billion Consolidated
Long-term loans payable ¥27.0 billion Consolidated
Long-term loans receivable ¥0.3 billion Consolidated
Guarantee deposited-NCL ¥8.3 billion Consolidated
Other ¥0.6 billion Parent only
Other ¥5.6 billion Parent only
Other ¥2.0 billion Parent only
Other ¥2.2 billion Parent only
Other ¥0.6 billion Parent only
Other capital surplus ¥14.3 billion Parent only
Software ¥0.7 billion Parent only
Work in process ¥6.00 million Parent only
Investments in capital ¥0 Parent only
General reserve ¥7.00 million Parent only
Retained earnings ¥129.4 billion Parent only
Legal retained earnings ¥0.1 billion Parent only
Unearned revenue ¥21.00 million Parent only
Advances received ¥78.00 million Parent only
Prepaid expenses ¥0.6 billion Parent only
Advance payments trade ¥2.4 billion Parent only
Raw materials and supplies ¥0.4 billion Parent only
Merchandise and finished goods ¥17.1 billion Parent only
Non-current liabilities ¥38.2 billion Parent only
Non-current assets ¥75.9 billion Parent only
Land ¥17.8 billion Parent only
Accounts receivable - trade ¥28.5 billion Parent only
Tools, furniture and fixtures ¥0.9 billion Parent only
Buildings, net ¥5.7 billion Parent only
Construction in progress ¥0.7 billion Parent only
Provision for management board incentive plan trust-NCL ¥0.2 billion Parent only
Investments and other assets ¥37.4 billion Parent only
Investment securities ¥3.00 million Parent only
Subscription rights to shares ¥4.0 billion Parent only
Property, plant and equipment ¥37.2 billion Parent only
Income taxes payable ¥9.1 billion Parent only
Accrued expenses ¥0.2 billion Parent only
Accounts payable - other ¥2.1 billion Parent only
Shareholders' equity ¥135.3 billion Parent only
Structures, net ¥0.7 billion Parent only
Machinery and equipment, net ¥11.5 billion Parent only
Current liabilities ¥59.3 billion Parent only
Current assets ¥160.9 billion Parent only
Intangible assets ¥1.4 billion Parent only
Reserve for special depreciation ¥3.00 million Parent only
Cash and deposits ¥106.8 billion Parent only
Short-term loans payable ¥3.1 billion Parent only
Short-term loans receivable with resale agreement ¥10.00 million Parent only
Net assets ¥139.3 billion Parent only
Net assets ¥139.3 billion Parent only
Total assets ¥236.8 billion Parent only
Deferred tax assets ¥3.1 billion Parent only
Retained earnings brought forward ¥129.2 billion Parent only
Treasury stock ¥-8.9 billion Parent only
Liabilities ¥97.4 billion Parent only
Liabilities and net assets ¥236.8 billion Parent only
Accounts payable - trade ¥40.7 billion Parent only
Allowance for doubtful accounts ¥-3.2 billion Parent only
Allowance for doubtful accounts ¥-3.00 million Parent only
Capital surplus ¥14.3 billion Parent only
Capital stock ¥0.5 billion Parent only
Asset retirement obligations ¥1.6 billion Parent only
Provision for bonuses ¥0.3 billion Parent only
Vehicles, net ¥12.00 million Parent only
Provision for retirement benefits ¥0.4 billion Parent only
Long-term loans payable ¥27.0 billion Parent only
Long-term prepaid expenses ¥0.5 billion Parent only
Long-term loans receivable ¥0.1 billion Parent only
Investments in capital of subsidiaries and affiliates ¥2.5 billion Parent only
Shares of subsidiaries and associates ¥1.4 billion Parent only
Loans receivable to subsidiaries and affiliates ¥2.8 billion Parent only
Long-term loans receivable from subsidiaries and affiliates ¥27.4 billion Parent only
Guarantee deposited-NCL ¥8.3 billion Parent only
Deposits received ¥1.6 billion Parent only

Statement of income (102 items)

ItemValueConsolidated / Non-consolidated
Other ¥0.5 billion Consolidated
Other ¥73.00 million Consolidated
Other ¥5.9 billion Consolidated
Other comprehensive income ¥37.00 million Consolidated
Valuation difference on available for sale securities net of tax ¥-2.00 million Consolidated
Amortization of goodwill ¥90.00 million Consolidated
Amortization of goodwill ¥90.00 million Consolidated
Amortization of goodwill ¥90.00 million Consolidated
Gain on valuation of derivatives ¥5.3 billion Consolidated
Dividends from surplus ¥-5.1 billion Consolidated
Comprehensive income ¥31.9 billion Consolidated
Interest income ¥0.9 billion Consolidated
Dividend income ¥0 Consolidated
Operating income ¥39.9 billion Consolidated
Operating income ¥39.9 billion Consolidated
Non-operating income ¥8.8 billion Consolidated
Non-operating expenses ¥0.6 billion Consolidated
Net cash provided by (used in) operating activities ¥42.1 billion Consolidated
Loss on sale of non-current assets ¥63.00 million Consolidated
Gain on sales of non-current assets ¥1.00 million Consolidated
Loss on retirement of non-current assets ¥44.00 million Consolidated
Rents ¥1.3 billion Consolidated
Cost of sales ¥485.2 billion Consolidated
Gross profit (loss) ¥66.5 billion Consolidated
Net sales ¥551.7 billion Consolidated
Net sales ¥551.7 billion Consolidated
Advertising expenses ¥0.3 billion Consolidated
Net income ¥31.9 billion Consolidated
Net income ¥31.9 billion Consolidated
Net income (loss) ¥31.9 billion Consolidated
Net income (loss) ¥31.9 billion Consolidated
Provision for management board incentive plan trust-SGA ¥32.00 million Consolidated
Gain on sales of investment securities ¥20.00 million Consolidated
Net cash provided by (used in) investing activities ¥-8.9 billion Consolidated
Interest expenses ¥23.00 million Consolidated
Gain on reversal of share acquisition rights ¥84.00 million Consolidated
Income taxes - current ¥15.0 billion Consolidated
Income taxes ¥14.7 billion Consolidated
Income taxes - deferred ¥-0.3 billion Consolidated
Legal welfare expenses ¥0.8 billion Consolidated
Depreciation ¥1.2 billion Consolidated
Impairment loss ¥1.5 billion Consolidated
Impairment loss ¥1.5 billion Consolidated
Foreign exchange losses ¥0.3 billion Consolidated
Foreign currency translation adjustment net of tax ¥40.00 million Consolidated
Extraordinary income ¥0.1 billion Consolidated
Extraordinary loss ¥1.6 billion Consolidated
Effect of exchange rate change on cash and cash equivalents ¥1.1 billion Consolidated
Net increase (decrease) in cash and cash equivalents ¥23.2 billion Consolidated
Income (loss) before income taxes ¥46.6 billion Consolidated
Income (loss) before income taxes ¥46.6 billion Consolidated
Ordinary income ¥48.1 billion Consolidated
Disposal of treasury stock ¥1.2 billion Consolidated
Purchase of treasury stock ¥-0 Consolidated
Subsidy income ¥1.9 billion Consolidated
Comprehensive income attributable to owners of parent ¥31.9 billion Consolidated
Net cash provided by (used in) financing activities ¥-11.1 billion Consolidated
Promotion expenses ¥0.4 billion Consolidated
Selling, general and administrative expenses ¥26.6 billion Consolidated
Provision of allowance for doubtful accounts ¥-13.00 million Consolidated
Cost of rent income ¥31.00 million Consolidated
Provision for bonuses ¥0.4 billion Consolidated
Retirement benefit expenses ¥0.1 billion Consolidated
Freightage expenses ¥9.1 billion Consolidated
Other ¥0.4 billion Parent only
Other ¥52.00 million Parent only
Gain on valuation of derivatives ¥5.3 billion Parent only
Dividends from surplus ¥-5.1 billion Parent only
Interest and dividend income ¥1.1 billion Parent only
Operating income ¥34.6 billion Parent only
Non-operating income ¥7.0 billion Parent only
Non-operating expenses ¥0.6 billion Parent only
Loss on retirement of non-current assets ¥16.00 million Parent only
Cost of sales ¥473.3 billion Parent only
Gross profit (loss) ¥57.1 billion Parent only
Net sales ¥530.5 billion Parent only
Net income (loss) ¥27.7 billion Parent only
Net income (loss) ¥27.7 billion Parent only
Provision for management board incentive plan trust-SGA ¥32.00 million Parent only
Gain on sales of investment securities ¥19.00 million Parent only
Interest expenses ¥27.00 million Parent only
Gain on reversal of share acquisition rights ¥84.00 million Parent only
Income taxes - current ¥13.1 billion Parent only
Income taxes ¥12.5 billion Parent only
Income taxes - deferred ¥-0.6 billion Parent only
Depreciation ¥1.2 billion Parent only
Impairment loss ¥0.8 billion Parent only
Foreign exchange losses ¥0.4 billion Parent only
Extraordinary income ¥0.1 billion Parent only
Extraordinary loss ¥0.9 billion Parent only
Income (loss) before income taxes ¥40.2 billion Parent only
Ordinary income ¥41.0 billion Parent only
Disposal of treasury stock ¥1.2 billion Parent only
Purchase of treasury stock ¥-0 Parent only
Promotion expenses ¥0.4 billion Parent only
Selling, general and administrative expenses ¥22.6 billion Parent only
Provision of allowance for doubtful accounts ¥50.00 million Parent only
Provision of allowance for doubtful accounts ¥-13.00 million Parent only
Cost of rent income ¥19.00 million Parent only
Provision for bonuses ¥0.3 billion Parent only
Retirement benefit expenses ¥82.00 million Parent only
Freightage expenses ¥7.6 billion Parent only

Accounts unique to this company (9 items)

ItemValueConsolidated / Non-consolidated
Revenue ¥1.0 billion Consolidated
Revenue ¥5.9 billion Consolidated
Revenue ¥0.2 billion Consolidated
Revenue ¥95.00 million Consolidated
Revenue ¥93.00 million Consolidated
Revenue ¥0.2 billion Parent only
Revenue ¥95.00 million Parent only
Revenue ¥93.00 million Parent only
Revenue ¥4.9 billion Parent only

Statement of changes in equity (4 items)

ItemValueConsolidated / Non-consolidated
Total changes during the period ¥28.6 billion Consolidated
Net changes in items other than shareholders' equity ¥0.7 billion Consolidated
Total changes during the period ¥24.4 billion Parent only
Net changes in items other than shareholders' equity ¥0.6 billion Parent only

Statement of cash flows (43 items)

ItemValueConsolidated / Non-consolidated
Other ¥0.2 billion Consolidated
Other ¥-0.7 billion Consolidated
Increase (decrease) in other current liabilities ¥1.6 billion Consolidated
Decrease (increase) in other current assets ¥0.6 billion Consolidated
Loss gain on valuation of derivatives ¥-5.3 billion Consolidated
Repayments of finance lease obligations ¥-1.00 million Consolidated
Increase decrease in notes and accounts payable trade ¥3.2 billion Consolidated
Payments for contributions in insurance fund ¥-1.0 billion Consolidated
Interest expenses paid ¥-22.00 million Consolidated
Interest and dividends income received ¥0.9 billion Consolidated
Decrease (increase) in advance payments to suppliers ¥-0.8 billion Consolidated
Interest and dividend income ¥-0.9 billion Consolidated
Decrease increase in notes and accounts receivable trade ¥-2.0 billion Consolidated
Proceeds from withdrawal of time deposits ¥0.3 billion Consolidated
Payments into time deposits ¥-0.1 billion Consolidated
Subtotal ¥51.7 billion Consolidated
Proceeds from sales of investment securities ¥0.4 billion Consolidated
Loss (gain) on sales of long-term investment securities ¥-20.00 million Consolidated
Interest expenses ¥23.00 million Consolidated
Purchase of property plant and equipment ¥-9.1 billion Consolidated
Proceeds from sales of property plant and equipment ¥22.00 million Consolidated
Loss gain on sales of property plant and equipment ¥61.00 million Consolidated
Loss on retirement of property, plant and equipment ¥44.00 million Consolidated
Share-based payment expenses ¥1.0 billion Consolidated
Decrease (increase) in inventories ¥2.1 billion Consolidated
Income taxes paid ¥-10.6 billion Consolidated
Depreciation ¥6.6 billion Consolidated
Impairment loss ¥1.5 billion Consolidated
Foreign exchange loss (gain) ¥-1.1 billion Consolidated
Purchase of intangible assets ¥-0.3 billion Consolidated
Proceeds from disposition of treasury stock ¥0.9 billion Consolidated
Regarding purchase of treasury stock ¥-0 Consolidated
Proceeds from subsidy income ¥94.00 million Consolidated
Proceeds from subsidy-InvCF ¥1.8 billion Consolidated
Subsidy income ¥-1.9 billion Consolidated
Collection of loans receivable ¥0.3 billion Consolidated
Increase (decrease) in allowance for doubtful accounts ¥-0.1 billion Consolidated
Increase (decrease) in provision for bonuses ¥47.00 million Consolidated
Increase (decrease) in net defined benefit liability ¥47.00 million Consolidated
Payments for acquisition in subsidiaries resulting in change in scope of consolidation ¥-0.6 billion Consolidated
Dividends ¥-5.1 billion Consolidated
Repayment of long term loans payable ¥-6.9 billion Consolidated
Increase decrease in guarantee deposits received ¥0.3 billion Consolidated
Basic indicators
ItemValueConsolidated / Non-consolidatedSource
Net cash provided by (used in) operating activities ¥42.1 billion ConsolidatedDisclosed
Dividend per share 30 Parent onlyDisclosed
Number of employees 1,674 ConsolidatedDisclosed
Net assets ¥161.4 billion ConsolidatedDisclosed
Net sales ¥551.7 billion ConsolidatedDisclosed
Operating income ¥39.9 billion ConsolidatedDisclosed
Ordinary income ¥48.1 billion ConsolidatedDisclosed
Net income ¥31.9 billion ConsolidatedDisclosed
Total assets ¥260.2 billion ConsolidatedDisclosed
Operating margin 7.2%ConsolidatedCalculated
Net margin 5.8%ConsolidatedCalculated
Sales per employee 329570490 yenConsolidatedCalculated
Total asset turnover 2.12 timesConsolidatedCalculated
Net assets to total assets 62.0%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 7.2% Operating income ÷ net sales  = ¥39.9 billion ÷ ¥551.7 billion
    Operating income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Net margin 5.8% Net income ÷ net sales  = ¥31.9 billion ÷ ¥551.7 billion
    Net income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Sales per employee 329,570,490 yen Sales or operating revenue ÷ employees  = ¥551.7 billion ÷ 1,674 people
    Sales or operating revenue ÷ employees. The denominator is Number of employees (Consolidated, Japanese GAAP).
  • Total asset turnover 2.12 times Sales or operating revenue ÷ total assets  = ¥551.7 billion ÷ ¥260.2 billion
    Sales or operating revenue ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).
  • Net assets to total assets 62% Net assets ÷ total assets  = ¥161.4 billion ÷ ¥260.2 billion
    Net assets ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).

Company details

  • Representative President, Representative Director, gBizINFO
  • Consolidated subsidiaries Annual Securities Report

Revenue and profit by business segment

  • Source: segment information, Annual Securities Report (Nov 2024 to Oct 2025) · Consolidated · Net sales to external customers · filed 2026-01-28
  • 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: ¥551.7 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 page

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 Consolidated
  • 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) 0% 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
  • Increase in working capital (increase in trade receivables + increase in inventories) ÷ net sales (or operating revenue)。Trade receivables up ¥2.0 billion + inventories down ¥2.1 billion, over net sales ¥551.7 billion
  • Property, plant and equipment purchases relative to depreciation Purchase of property, plant and equipment ÷ depreciation。Purchase of property, plant and equipment ¥9.1 billion, over depreciation ¥6.6 billion
  • Return to shareholders (dividends paid + purchase of treasury stock) ÷ net cash provided by operating activities。Dividends paid ¥5.1 billion + purchase of treasury stock ¥0.00 million, over operating cash flow ¥42.1 billion
  • Extraordinary gains and losses relative to ordinary profit (extraordinary income − extraordinary loss) ÷ ordinary income。Extraordinary income ¥0.1 billion − extraordinary loss ¥1.6 billion, over ordinary income ¥48.1 billion
  • Investment securities to net assets Investment securities ÷ net assets。Investment securities ¥8.00 million, over net assets ¥161.4 billion

Long-term changes in performance

  • Revenue Disclosed value for 2025 ÷ disclosed value for 2012

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

Return on equity over time

  • Return on equity (ROE): net profit as a proportion of equity. For Japanese companies, the disclosed value in the key financial indicators of the annual securities report (decimals converted to percentages)

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.

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 Wholesale Trade 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 Wholesale Trade 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: 1,674 (a different scope, kept apart from the four above). Industry median: the middle value among companies in Wholesale Trade 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)
  • 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

Greenhouse gas emissions

  • Source: processed from the Ministry of the Environment’s greenhouse gas calculation, reporting and disclosure system (EEGS). Companies required to report only Ministry of the Environment (EEGS)

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 KOBE BUSSAN CO., LTD. on EDINET, the FSA’s disclosure system (free to read)
Corporate number: 5140001044630 / Accounting standard: Japanese GAAP

  • 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