New businesses

Powersports & Engine led FY2025 revenue at ¥682.8bn, while Aerospace Systems led business profit at ¥62.4bn. Energy Solution & Marine Engineering contributed ¥55.0bn. Tariffs and competition weighed on Powersports, illustrating different operating conditions within the group. Corporate adjustments also matter when moving from segments to consolidated profit. The company becomes clearer through those differing economics, as well as its range of products.

Yamaha Motor expanded through two documented routes: selling production equipment developed for internal use and reusing motorcycle parts in another product. External arc-welding robot sales in 1976 and the first P-7 outboard in 1960 illustrate those routes. Today’s Robotics and Marine segments each contain many products. In FY2025, Robotics lost ¥0.6bn at the operating level, Marine earned ¥53.6bn, and Land Mobility accounted for about 63.7% of group revenue by site calculation. Reaching another type of buyer creates a business opportunity; product demand and costs shape the resulting profitability.

Nikon supplies optics and precision technologies for researchers’ observations, photographers’ and filmmakers’ work, and manufacturers’ production processes. Microscopes preceded cameras, while acquisitions including Optos and SLM also shaped the portfolio. Imaging accounted for 42.8% of revenue in the year ended March 2026. The new plan proposes investing cash from three businesses into Precision Equipment and Digital Manufacturing. That planned allocation sits alongside a ¥112.4bn group operating loss for the year, including a ¥90.6bn impairment in Digital Manufacturing.

JR East moves people by rail, sells goods through group shops, rents out premises and operates hotels. Transportation accounted for about 66% of FY2026 revenue. The three non-transportation segments generated about ¥1.039 trillion of revenue and a simple sum of ¥226.4 billion in segment profit, above Transportation’s ¥194.4 billion. Consolidated operating income differs because of adjustments. JR East plans to expand property development, sales and management, and to connect Mobility and Lifestyle Solutions through Suica and data. The scale of the existing businesses should be read separately from those intended connections.

ORIX expanded from leasing equipment to businesses into operations and investment. FY2026 capital gains of ¥265.2bn measure profit; Cash In of ¥1.1tn and Cash Out of ¥800bn measure capital recoupment and new investment. Greenko’s ¥95.0bn includes sale and valuation gains. Decisions about what to own, where to take part in operations and when to recover capital connect the group’s varied businesses.

Ajinomoto develops ABF with package-substrate manufacturers and supplies it through in-group varnish production and outsourced coating and storage. Analysis and quality-assurance technologies developed through food also support the work. In the year ended March 2026, two food segments represented 77.5% of sales, while Healthcare and Others, including electronic materials and pharmaceuticals, earned ¥66.2bn in business profit.

Fujifilm combines technologies developed for photography with acquired businesses and manufacturing capacity. Alongside office and printing products, medical systems, photography and semiconductor materials, its Bio CDMO develops and manufactures drugs for pharmaceutical customers. The 12/16 U.S. figure describes capacity covered by contracts and informal agreements on planned manufacturing volumes, rather than sales of manufacturing equipment.

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.

Zensho’s network includes directly operated restaurants and takeaway-sushi outlets run by franchisees. Franchisees’ checkout sales and Zensho’s consolidated revenue cover different transactions. Group procurement, manufacturing and logistics companies support food supply, with arrangements varying by format and region and hygiene still essential at each location.

Yamaha supplies instruments to players, reaches venues through installers and rental companies, and provides vehicle makers with hardware and cabin-specific sound design. Music Connect aims to extend its musician relationships into practice and learning after the purchase.

ROUND ONE combines several activities in one venue and refreshes prizes and campaigns while maintaining reception, staffing and inventory operations. Amusement represented 60.2% of FY2026 revenue, but that share does not measure campaign effects. Its adjacent Japanese Food Hall format and separately managed Round One Delicious restaurants are distinct plans.

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.

Sanrio earns revenue by selling its own products and licensing characters to other businesses. Its merchandising and licensing gross profit in Japan and overseas is disclosed in separate Hello Kitty, multi-character and other-character categories. Planned games and animation would add more ways for people to encounter its characters.