Customer numbers

JES takes on the work needed to keep elevators in use. Servicing models from different manufacturers requires both parts supply and trained technicians. In the year ended March 2026, maintenance and repair generated ¥34.499bn of consolidated sales; modernization, which replaces major equipment, generated ¥21.801bn. Routine service and the ability to win and carry out modernization projects both support the same customer equipment.

Mizuno’s Japan operating-profit increase exceeded the consolidated increase in the year ended March 2026. The company says more direct selling, centered on Sportstyle shoes, lifted Japan’s gross margin. Meanwhile, tariffs raised costs in the Americas and a weak Korean golf market weighed on Asia and Oceania. Regional earnings reflect who buys the products, the route to the customer and the costs the company bears.

Nishimatsuya reshapes its network through openings, closures and replacements, supplying private-label clothing and childcare goods. In the year ended February 2026, it also added online visibility of physical-store stock. Standalone sales increased while operating profit declined. Beyond adding selling space, the economics depend on selling goods at their original prices and organizing work in stores and logistics.

SANKYU moves goods inside factories, takes on parts of the production process, and inspects and maintains equipment. When it handles daily maintenance and planned shutdowns together, the findings from each can inform the next round of work. Engineering operating profit was ¥30.960bn in the year ended March 2026, down 3.3% despite an 8.5% sales increase. Less daily maintenance in Japan and less overseas shutdown work were among the pressures. Knowing the plant and earning a profit from the work undertaken are both part of understanding SANKYU.

Kura Sushi connects plate collection and counting with a game, while rotating sushi and character collaborations add reasons to visit. All 687 stores at the end of FY2025 were directly operated. Across the group, the rise in selling, general and administrative expenses exceeded the increase in gross profit. The business combines an engaging meal with the work and costs of running the restaurants.

JINS finishes frames and lenses into glasses for individual wearers. In the year ended August 2026, its 78.4% gross margin and 10.3% operating margin were separated by SG&A equal to 68.1% of sales, including personnel, rent and system-related costs. These are consolidated ratios across Japan and overseas, not the economics of an individual product. The store count reached 878, but operating profit fell in Japan and rose overseas. Stocking products and running the stores profitably are both part of the business.

GLORY combines checkout and back-office machines with software that tracks cash balances. The CI-X series can transfer both notes and coins in cassettes, reducing occasions when staff handle loose cash. In the year ended March 2026, overseas-market revenue grew 2.9%, while Japan’s retail and transportation market declined 17.3% after a surge in work for new banknotes. Results reflect both the need to automate everyday cash management and the timing of equipment replacements and modifications.

Marugame makes noodles from flour inside its restaurants and uses its noodle-master program to develop the judgment needed to work with dough. It had 887 directly operated Japanese stores at March 2026 and earned ¥21.955bn in segment business profit that year. Cooking in each kitchen, and developing the people who do it, support Toridoll's largest earnings contributor. The company does not isolate the training program's effect on revenue or profit.

Komeda supplies food to franchisees and supports their cafés. Wholesale revenue of ¥39.296bn represented about 68.7% of consolidated revenue in the year ended February 2026. Customers’ café bills and operators’ payments for supplies are separate transactions. Royalties depend on seats rather than sales, while wholesale revenue reflects changes in products and prices. Keeping these two selling relationships separate helps explain Komeda’s results.

AMADA adds material-supply equipment and ways to pass operating information to robots to machines that cut and bend sheet metal. After delivery, it supplies tooling and consumables and provides maintenance and repairs. Group revenue for the year ended March 2026 included acquisition contributions, while its margin declined. The equipment’s role in factory work and the company’s ability to earn from that work both matter.

SATO combines labels, printers, readers and software so customers can capture information about goods and people. Its recurring-sales ratio was 73.7% in the year ended March 2026. Among major customers in Japan, 63.4% used multiple product categories and 96.9% had transacted every year for the past three years. These figures reveal relationships built around fitting daily workflows, replenishing labels and maintaining equipment. Turning custom work into reusable solutions is also necessary to contain the burden on sales and development teams.

A free boiler-room visit identifies and reports equipment issues. Calibration, safety-device testing, parts and maintenance contracts create other kinds of work around the same equipment. CBSS needs to rebuild customer contact. The conversion rate and profit contribution of the free visits are not disclosed.

Nitto's electrical-release tape supports both battery fixation during use and removal for repair or disassembly. Adoption expanded in the year ended March 2026, when Industrial Tape revenue reached ¥366.607bn; the individual product's contribution is not disclosed. The roughly ¥39bn Toyohashi plant project covers electrical-release tape and adhesive materials for foldable devices, with completion planned for January 2028. Performance at the moment of removal connects customers' product designs to Nitto's capacity investment.

OBIC builds business systems around accounting, then provides system access, operational advice and incident support after installation. System support sales reached ¥71.508bn in the year ended March 2026, with a 74.0% operating margin. Broader standard software functions and remote cloud support work alongside continued involvement by OBIC’s own sales staff and engineers. Sustaining that model also means investing existing employees’ time in training new recruits.

SG Holdings’ cold-chain work combines transport suited to the size of a shipment with vehicles and storage in the right place at the right time. In the year ended March 2026, its initiatives reported a ¥2.50bn operating-profit improvement over the year ended March 2024. Existing-customer expansion contributed ¥2.24bn, while low-temperature TMS, joint delivery and BtoB lot delivery together contributed ¥0.36bn. Expanding the ways to move a shipment, earning a return and maintaining reliable service are connected operating tasks behind the familiar parcel network.

In the year ended March 2026, Mitsui Fudosan reported ¥2,709.7bn in group revenue and ¥397.8bn in operating profit. Its segments recorded revenue of ¥936.6bn from Leasing, ¥729.3bn from Property Sales, ¥511.5bn from Management and ¥244.1bn from Facility Operations; Other contributed another ¥288.3bn. Leasing was larger in revenue than Property Sales, yet Property Sales business income (¥193.2bn) exceeded Leasing (¥177.0bn) this year. The company-defined business income and consolidated operating profit are different accounting measures and require adjustments. From its origin in property management in 1941 through 1968 skyscraper and 1981 shopping-center development to a 2001 J-REIT, Mitsui Fudosan widened not just its assets but how it earns from them.

Mercari combines the place where people find and trade goods with compensation, appraisal and payment services. Marketplace transaction value reached ¥1,285.6bn in the year ended June 2026. Year-end credit balances were ¥358.1bn, alongside ¥211.2bn of borrowings from receivable financing. Compensation speed, a narrowly defined collection rate and funding describe different responsibilities. As trading expands, resolving disputes, assessing credit and arranging finance become important parts of operating the business.

Daifuku builds material-handling systems to suit customer sites, then provides inspections, parts, modifications and renewal. In FY2025, construction revenue recognized over time was ¥490,548 million, about 74% of consolidated sales of ¥660,724 million. Orders and project work can fall in different years, while cost estimates and execution affect project profitability. Service sales were ¥176.6bn, or 27% of consolidated sales. Service and construction revenue are different classifications and cannot be added together; service includes both period-based contracts and individual jobs.

MonotaRO helps customers find supplies and handle internal purchase requests and approvals, then fills orders from its stock and suppliers. Its enterprise business sells supplies through purchasing-management services: FY2025 sales were ¥106.31bn, or 32.9% of standalone sales. About 95% of companies in its Large category had at least one account holder, compared with about 10% of their sites. The denominators are companies and sites, respectively. To win more orders, MonotaRO needs to reach users at individual factories and offices and provide the storage and shipping capacity to serve them.

Kewpie supplies liquid eggs, omelets and egg salads to match how much preparation customers do themselves. It also designs processed products for their texture after heating or thawing. In the year ended November 2025, the Food Service egg category had sales of ¥115.8bn, up 14%, and business profit of ¥6.2bn, down 18%. Across Food Service, price revisions and higher egg-product volumes supported sales, while higher egg and other raw-material prices weighed on profit. Addressing kitchen preparation and consistency needs also requires reflecting changing costs in selling prices.

Nabtesco supplies precision reduction gears to robot makers, and brakes and door-operating systems to rail operators and train builders. Its building automatic doors, aircraft equipment, marine controls and packaging machines also work inside customers’ equipment and operating sites. FY2025 continuing operations generated ¥307.9bn in revenue and ¥20.7bn in operating profit. Accessibility Solutions contributed ¥110.7bn of revenue, Transport Solutions ¥100.5bn, Component Solutions ¥79.3bn and Manufacturing Solutions ¥17.4bn. Company-estimated product market shares and these four businesses’ revenue totals measure different things.

Makita’s bases introduce tools through demonstrations and user visits, repair failed products and return them to customers. Around 50 overseas countries with direct bases and around 180 sales markets describe different kinds of presence. In the year ended March 2026, overseas revenue represented about 83.0% of sales value and overseas factories made 92.5% of production units. Cordless expansion adds more applications to the work of selling products and supporting their users.

Advantest sells test systems to semiconductor and electronic-component manufacturers, then supplies support and consumables such as interface boards. In FY2025, ended March 2026, demand for advanced-chip testers and supply capability grew while mature-chip tester demand remained soft. Sales of ¥1.1286tn, operating income of ¥499.1bn and a 44.2% operating margin reflect that demand split and product mix.

Sysmex’s work continues after installation through reagents, reference materials, scientific information and customer care. Its 79.4% stable-revenue measure includes reagents, service/support and other sales; it is not a subscription-only share. Continuing supplies and support help explain the business behind ¥500.0bn of FY2025 sales.

Regional builders sell homes suited to local buyers and price ranges. In FY2025, U.S. single-family housing generated approximately ¥786bn of sales and ¥105bn of recurring income, representing around 35% of group sales and 60% of consolidated recurring income. Land development supplies finished lots, while FITP designs, manufactures, delivers and installs structural components. These are distinct roles in housing supply.

Capacitors help reduce noise and support sudden current demand inside electronic circuits. Murata brings materials and manufacturing capabilities to making these parts. In the year ended March 2026, capacitors grew across applications including servers, while RF and communications revenue fell. Demand differs by component and application, even within the same equipment market.

Cardiac and Vascular is Terumo’s largest business at ¥676.4bn in FY2025. Devices within vessels, oxygenators outside the body, blood and cell collection, and hospital and pharmaceutical products serve different settings. The familiar thermometer opens onto a much broader set of medical jobs.

Mitsubishi Electric’s control devices connect input signals and programs with equipment actions. Factory Automation Systems, which includes that work, generated ¥798.2bn in the year ended March 2026 and sits alongside ¥875.6bn of Automotive Equipment in Industry & Mobility. With Life at ¥2.3182tn and Infrastructure at ¥1.4634tn, factory control is one concrete supply role within a broader company. Segment revenue includes intersegment sales and does not represent shares of consolidated revenue.

Bridgestone supplies fleet operators with new and retread tires and maintenance services. Toolbox records fitted tires and inspection results; Tirematics monitors pressure and temperature; BASys manages retread production, inspection and inventory. A suitable casing can receive a new tread and return to service. The 2007 Bandag acquisition strengthened this activity. FY2025 Truck & Bus revenue was ¥1.018tn including retread, rather than a separately disclosed retread total.

Calling FY2025 revenue flat misses the differences between Kubota’s businesses and markets. Machinery represented 87.1% of revenue, and even Farm Equipment & Engines and Construction Machinery moved differently within it. Water & Environment accounts for 12.4% of current revenue. Separating each business’s scale from its annual change gives a clearer view of Kubota’s machinery-led portfolio.

DNP gives manufacturers materials for making fine patterns, controlling light and protecting contents. Electronics, which includes masks and optical films, reported FY2025 sales of ¥251.8bn and operating profit of ¥50.7bn. It ranked last by sales and first by operating profit among the three segments, although its profit fell 11.6%. Battery pouches belong to Life & Healthcare. Consolidation includes sales and operating-profit adjustments of negative ¥1.9bn and ¥26.9bn respectively, so segment size and contribution to group results need to be read separately.

Komatsu remains centered on construction and mining equipment. At the jobsite, that equipment sits alongside distinct tasks: monitoring its condition, controlling vehicle operations, and connecting terrain with construction work. The 1,000 commissioned trucks and more than 11.5 billion metric tons moved show operating scale. Broader site coordination and next-generation vehicle platforms also include future ambitions. Distinguishing operating results from future plans clarifies what Komatsu already provides at the jobsite and where it aims to expand.

Olympus supplies healthcare professionals with endoscopes and treatment devices, and provides installation checks, operating instruction, in-use support, inspection and repair. Medical Service represented about 30% of the GI division's ¥697.4bn revenue for the year ended March 2026. This is a divisional revenue share, not a group share or a measure of subscription revenue or profitability. Supporting equipment in use forms part of the medical business.

KOKUYO’s furniture history includes adapting an office-table height-adjustment handle for a study desk. It also opened its Osaka headquarters to visitors, who could see employees using its furniture. In 2025, Furniture generated about 2.06 times Stationery’s sales and 3.69 times its segment operating income. Business Supply Distribution is substantial too, but intersegment transactions and reconciliation prevent treating these figures as direct shares of the group total. The ¥500bn sales goal for 2030 remains a future target.

In FY2025, the year ended March 2026, five Astellas Strategic Brands generated ¥480.3bn, up 43%. They are marketed medicines for conditions including cancers, an eye disease and menopausal symptoms. XTANDI remained the largest product at ¥960.8bn, about 44.9% of group revenue. Alongside selling medicines, Astellas conducts R&D internally and with pharmaceutical, biotech and academic partners. R&D expense was ¥314.8bn. The roughly ¥1 trillion of mid-2030s pipeline sales potential in its plan is an ambition, not current revenue or a guarantee of regulatory approval.

Alongside water-related products, TOTO supplies ceramic components to equipment manufacturers. Electrostatic chucks hold wafers, AD coatings protect equipment surfaces, and engineering ceramics support precise motion. Their functions and production methods differ. Engineering ceramics draw on sanitary-ware forming and firing control and faucet polishing. The Advanced Ceramics Business generated ¥50.3bn in sales and ¥20.4bn in operating profit in FY2024, then reported record sales and profit in FY2025. In April 2026, TOTO said it had decided on about ¥30bn of investment to expand electrostatic-chuck and AD-component R&D and production capacity.

Shiseido reaches regional consumers and travellers with cosmetics and fragrances. Japan Business accounted for 30.4% of FY2025 sales and China & Travel Retail for 35.3%. The 69.6% outside Japan Business is calculated from reportable segments, not a geographic overseas-sales ratio. The duty-free channel, including Fukuoka Airport, makes that distinction concrete. Improving margins in Asia Pacific, the Americas and EMEA is also part of its 2030 strategy.

Daikin combines equipment and services for customers installing, operating and replacing air conditioning. Its FY2025 Solutions ratio of 28% includes equipment sales and engineering in replacement projects. The denominator excludes Chemicals, Filters and other businesses, so it differs from both group sales and the reported Air Conditioning and Refrigeration Equipment segment, which includes Filters. Daikin brings refrigerant and other technologies together with global sales and service networks, and plans to extend its work toward entire HVAC systems and buildings. The 40% ratio for FY2030 is a future projection.

Kao generated ¥1.6886 trillion in sales and ¥164.1 billion in operating income in FY2025. Fabric & Home Care contributed ¥389.1 billion, about 23.0% of group sales by site calculation, and is part of Hygiene Living Care. On an external-customer basis, the five businesses account for 32.5% (Hygiene Living Care), 25.7% (Health Beauty Care), 15.5% (Cosmetics), 2.3% (Business Connected) and 24.0% (Chemical). Kao serves consumers with everyday products, companies and organizations with professional hygiene solutions, and manufacturers with industrial materials. A concrete additive illustrates the last role: customers use Kao’s chemicals in making their own products.

Zojirushi provides containers that keep food and drinks hot or cold, appliances that apply heat to cook, and prepared meals. FY2025 sales were ¥91.151bn and operating profit ¥7.436bn. Cooking appliances generated ¥64.384bn, about 70.6% of sales, with ¥42.6bn of rice-cooker sales included within them. Living products, lifestyle appliances and other businesses serve different purposes. Food service is small at ¥0.6bn, but extends the business from selling a product for customers to use to preparing and serving food at a shop. Its FY2028 plan sets different growth targets for rice cookers, microwave ovens and living products.

KEYENCE sales engineers propose applications to customers and return firsthand information from their sites to product planning. Planning and development aim for general-purpose products usable across industries. Partner factories make the products, and domestic and overseas warehouses ship them to customers. In FY2025, the year ended March 20, 2026, sales were ¥1.1693 trillion and operating income ¥595.8 billion. Overseas sales accounted for 66.6% by site calculation. Sales work that uncovers individual customer problems connects with products that can be sold to many customers.

UNIQLO checks each store’s sales and stock daily and dispatches goods accordingly. Merchandising and production teams use in-season sales to instruct partner factories to increase or decrease output. In FY2025, international revenue was about 1.86 times Japan’s by site calculation, while North America and Europe grew and Greater China declined. Connecting stores worldwide requires decisions about where to send clothes, how many to make and what to improve next.

ASICS sells running shoes and lifestyle footwear through specialist retailers, wholesale retail partners, owned stores and other routes. Performance Running was its largest FY2025 category at ¥363.5bn in sales. SportStyle and Onitsuka Tiger together generated ¥277.8bn in sales and ¥92.7bn in site-calculated category profit, above Performance Running’s ¥86.0bn. Foreign markets accounted for 80.5% of sales, and OneASICS membership reached 23.13 million, adding different geographic and customer relationships to the picture.

Yakult combines making products with distribution through home delivery and stores. In calendar 2025, Yakult Ladies accounted for 41.2% of overseas sales volume and stores for 58.8%. Retailers are a substantial route alongside home delivery. Built around local production and local sales, overseas food-and-beverage operations reported sales of ¥240.0bn and operating profit of ¥36.3bn in the year ended March 2026. Regional operations and multiple routes to consumers underpin the roughly 38 million dairy bottles consumed worldwide each day.

Kikkoman manufactures and sells soy sauce and other foods, while JFC supplies restaurants and retailers with a broad Japanese and Asian assortment. In FY2026, overseas wholesale revenue was ¥432.9bn and manufacturing-and-sales revenue was ¥173.5bn, with business-profit margins of about 7.1% and 23.6%. Comparing reported segment revenue, which includes intersegment transactions, with profit after costs shows the different economics of those jobs.

Staffing revenue includes temporary-staff personnel costs, while Indeed earns from paid services supporting employers’ recruiting. The 37.7% and 5.9% EBITDA+S margins need to be read alongside these revenue and cost structures. In Japan, MMT also earns through services supporting bookings and business operations.

Ryohin Keikaku gives its retail network additional roles: a venue for local vendors and a place to return used products. In accommodation, company-operated MUJI BASE differs from MUJI room’s renovation of existing facilities, while stores are positioned as local hubs. Activities and operating arrangements vary; the activity and collection counts do not measure their contribution to revenue.

PPIH combines pricing and assortment with stores designed for tourist shopping and everyday food purchases. Rising same-store sales do not mean that same-store and business-wide gross margins move together. Robin Hood still has to turn early traffic gains into a profitable operating model. The long-term plan for 250 additional domestic stores extends this work on store formats.

Oriental Land is an independent Japanese company operating parks and hotels under license from Disney. It offers more experience choices and overnight stays while bearing personnel, maintenance and capital-investment costs. Higher sales per guest did not produce higher park profit in the year ended March 2026. Its planned extension beyond Maihama into cruises also comes with a ¥330bn investment plan.

Nintendo expands hardware ownership and sells games for those systems. Original Switch and Switch 2 software sales overlapped in FY2026, while a game released in 2017 kept selling. As development takes longer, existing titles remain on sale alongside work on the next releases.