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Rengo (3941) · FactWorsenedLatest Earnings (2026-08-05): "Advanced"

Overseas-related business achieves operating profitability

First written in FY2016. 23 of 38 entries say "Advanced", first in FY2017-Q1. Latest entry: 2026-08-05.

38entries
11years
3from disclosures
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How it moved
ProgressHeldSoftenedWorseAdvancedFY2017-Q1 – FY2019AdvancedFY2022-Q1 – FY2024-Q2WorsenedFY2025-H1 – FY20262016: 320162017: 420172018: 420182019: 420192020: 420202021: 320212022: 320222023: 420232024: 320242025: 220252026: 42026
Same theme, other companies
Operating losses and deteriorating profitability in overseas operationsA theme 30 companies write about · 33 as a headwind · 0 as a tailwind

Rengo moved to the "Worse" side of this theme in 2025, 4 years after the typical company in this theme (2021).

The whole theme swung hardest in 2020: 6 of 23 companies on the "Worse" side.

2 other companies' latest entry also says "Advanced".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 30 companies compared. The sentences above are computed from all 30.
Full recordFilings, disclosures and news, newest first
  1. 2026-08-05AdvancedEarnings

    「The overseas-related business reported higher revenue and higher income because the number of consolidated subsidiaries increased and sales of heavy-duty packaging were strong in North America and Southeast Asia.」

    The overseas-related business moved from an operating loss in the previous year to operating income of ¥699 million, marking progress toward a return to operating profitability.
  2. FY2026WorsenedAnnual report

    「In the overseas-related business, profitability in heavy-duty corrugated packaging deteriorated due to the downturn in the European automobile industry, resulting in lower revenue and profit. As a result, revenue in this segment was ¥209,092 million, or 98.1% of the previous year's level, and the segment recorded an operating loss of ¥1,628 million, compared with operating profit of ¥4,931 million in the previous fiscal year.」

    The overseas-related business swung from operating profit of ¥4,931 million in the previous fiscal year to an operating loss of ¥1,628 million, with profit after returning to operating profitability deteriorating significantly.
  4. FY2026-H1WorsenedAnnual report

    「In the overseas-related business, profitability in heavy-duty corrugated packaging deteriorated due to the downturn in the European automobile industry, resulting in lower revenue and profit. As a result, revenue in this segment was ¥98,305 million, or 90.1% of the previous year's level, and operating profit was ¥147 million, or 3.6%.」

    Overseas operations' net sales were 90.1% of the year-earlier level and operating income was 3.6%, with the scale of operating profit substantially shrinking due to deteriorating profitability in the European heavy-duty packaging business.
  5. FY2025WorsenedAnnual report

    「Overseas operations posted higher net sales due in part to the increase in consolidated subsidiaries, but profit declined due to deteriorating profitability in the European heavy-duty packaging business and other factors. As a result, segment net sales were ¥213,094 million, or 112.6% of the year-earlier level, and operating income was ¥4,931 million, or 72.7%.」

    Overseas operations posted higher net sales due to the increase in consolidated subsidiaries, but operating income declined to 72.7% of the year-earlier level due to deteriorating profitability in the European heavy-duty packaging business and other factors.
  6. FY2025-H1WorsenedAnnual report

    「In the overseas-related business, revenue increased due to an increase in consolidated subsidiaries, but profit declined because profitability in the heavy-duty packaging business deteriorated in Europe and for other reasons. As a result, revenue in this segment was ¥109,072 million, or 111.6% of the previous year's level, and operating profit was ¥4,056 million, or 96.5%.」

    While overseas operations maintained higher net sales, operating income fell to 96.5% of the year-earlier level due in part to deteriorating profitability in the European heavy-duty packaging business.
  7. FY2024AdvancedAnnual report

    「Overseas operations posted increases in both net sales and profit due in part to the increase in consolidated subsidiaries. As a result, segment net sales were ¥189,177 million, or 113.7% of the year-earlier level, and operating income was ¥6,781 million, or 112.8%.」

    Overseas operations posted increases in both net sales and profit due in part to the increase in consolidated subsidiaries, growing to net sales of ¥189,177 million and operating income of ¥6,781 million.
  8. FY2024-Q3WorsenedAnnual report

    「Overseas operations posted higher net sales due to the increase in consolidated subsidiaries, but profit declined due in part to higher fixed costs. As a result, segment net sales were ¥148,021 million, or 112.9% of the year-earlier level, and operating income was ¥5,922 million, or 97.9%.」

    While net sales increased due to the increase in consolidated subsidiaries, operating income was 97.9% of the year-earlier level due in part to higher fixed costs, resulting in weaker profitability for overseas operations.
  9. FY2024-Q2AdvancedAnnual report

    「Overseas operations posted increases in both net sales and profit due in part to the increase in consolidated subsidiaries. As a result, segment net sales were ¥97,723 million, or 126.3% of the year-earlier level, and operating income was ¥4,201 million, or 119.1%.」

    The increase in consolidated subsidiaries and other factors expanded overseas operations to net sales of ¥97,723 million and operating income of ¥4,201 million, driving further expansion in operating profit.
  10. FY2024-Q1AdvancedAnnual report

    「Overseas operations posted increases in both net sales and profit due to the increase in consolidated subsidiaries and strong automotive-related orders in Europe. As a result, segment net sales were ¥46,628 million, or 132.0% of the year-earlier level, and operating income was ¥2,016 million, or 144.9%.」

    The increase in consolidated subsidiaries and strong automotive-related orders in Europe expanded overseas operations to net sales of ¥46,628 million and operating income of ¥2,016 million.
  11. FY2023AdvancedAnnual report

    「Overseas operations posted increases in both net sales and profit due to the increase in consolidated subsidiaries and progress on price revisions in Europe. As a result, segment net sales were ¥166,312 million, or 131.5% of the year-earlier level, and operating income was ¥6,009 million, or 123.1%.」

    Against the backdrop of the increase in consolidated subsidiaries and price revisions in Europe, overseas operations grew to net sales of ¥166,312 million and operating income of ¥6,009 million.
  12. FY2023-Q3AdvancedAnnual report

    「The overseas-related business reported higher revenue and operating profit due to an increase in consolidated subsidiaries and progress in price revisions in Europe. As a result, segment revenue was ¥131,126 million, or 144.8% year on year, and operating profit was ¥6,050 million, or 167.8%.」

    Against the backdrop of the increase in consolidated subsidiaries and price revisions in Europe, overseas operations exceeded the year-earlier period in both net sales and operating income, expanding the scale of their operating profit.
  13. FY2023-Q2AdvancedAnnual report

    「Overseas operations posted increases in both net sales and profit due to the increase in consolidated subsidiaries and progress on price revisions in Europe. As a result, segment net sales were ¥77,391 million, or 131.5% of the year-earlier level, and operating income was ¥3,526 million, or 148.5%.」

    The increase in consolidated subsidiaries and price revisions in Europe lifted overseas operations' net sales to 131.5% of the year-earlier level and operating income to 148.5%, driving further expansion in operating profit.
  14. FY2023-Q1AdvancedAnnual report

    「The overseas-related business reported higher revenue and operating profit due to strong automotive-related orders in Europe and North America. As a result, segment revenue was ¥35,337 million, or 123.5% year on year, and operating profit was ¥1,391 million, or 123.5%.」

    Automotive-related orders in Europe and North America remained strong, and overseas operations posted increases in both net sales and profit, with net sales of ¥35,337 million and operating income of ¥1,391 million.
  15. FY2022-Q3AdvancedAnnual report

    「The overseas-related business reported higher revenue and operating profit as demand, which had declined due to the spread of COVID-19, began to recover. As a result, segment revenue was ¥90,564 million, or 143.5% year on year, and operating profit was ¥3,606 million, or 180.4%.」

    While maintaining an operating profit, overseas operations expanded to 143.5% of the year-earlier level in net sales and 180.4% in operating income.
  16. FY2022-Q2AdvancedAnnual report

    「In the overseas-related business, revenue and profit increased as demand that had declined due to the spread of COVID-19 recovered. As a result, revenue in this segment was ¥58,833 million, or 143.8% of the previous year's level, and operating profit was ¥2,374 million, or 234.6%.」

    Overseas operations posted increases in both net sales and profit on the recovery in demand, with operating income expanding to a 134.6% year-on-year increase.
  17. FY2022-Q1AdvancedAnnual report

    「In the overseas-related business, revenue and profit increased as demand that had declined due to the spread of COVID-19 began to recover. As a result, revenue in this segment was ¥28,609 million, or 132.4% of the previous year's level, and operating profit was ¥1,126 million, or 194.5%.」

    While maintaining an operating profit, overseas operations posted year-on-year increases of 32.4% in net sales and 94.5% in operating income due to the recovery in demand.
  18. FY2021-Q3WorsenedAnnual report

    「In the overseas-related business, revenue increased due to an increase in consolidated subsidiaries, but profit declined because demand remained sluggish amid the global spread of COVID-19. As a result, revenue in this segment was ¥63,104 million, up 14.3% year on year, and operating profit was ¥1,999 million, down 22.5%.」

    Although overseas operations continue to maintain an operating profit, they posted higher net sales but lower profit due to sluggish demand associated with the global spread of COVID-19.
  19. FY2021-Q2WorsenedAnnual report

    「In the overseas-related business, revenue increased due to an increase in consolidated subsidiaries, but profit declined because demand remained sluggish amid the global spread of COVID-19. As a result, revenue in this segment was ¥40,906 million, up 14.2% year on year, and operating profit was ¥1,012 million, down 34.1%.」

    While maintaining an operating profit, overseas operations saw operating income decline 34.1% year on year due to sluggish demand associated with the global spread of COVID-19.
  20. FY2021-Q1WorsenedAnnual report

    「In the overseas-related business, revenue increased due to an increase in consolidated subsidiaries, but profit declined because demand for corrugated products in China remained sluggish amid the spread of COVID-19. As a result, revenue in this segment was ¥21,605 million, up 14.9% year on year, and operating profit was ¥579 million, down 29.2%.」

    While maintaining an operating profit, overseas operations posted higher net sales but lower profit due to sluggish demand associated with the spread of COVID-19 in China, with operating income declining 29.2% year on year.
  21. FY2020WorsenedAnnual report

    「Overseas operations posted higher net sales due to the increase in consolidated subsidiaries, but profit declined due to sluggish demand in China and other factors. As a result, segment net sales were ¥80,465 million, up 9.8% year on year, and operating income was ¥3,351 million, down 1.3%.」

    While maintaining an operating profit, overseas operations posted higher net sales, but operating income declined 1.3% year on year due to sluggish demand in China and other factors.
  22. FY2020-Q3RestatedAnnual report

    「In the overseas-related business, revenue and profit declined due to sluggish demand in China and other factors. As a result, revenue in this segment was ¥55,222 million, down 0.9% year on year, and operating profit was ¥2,580 million, down 1.0%.」

    Although overseas operations continue to maintain an operating profit, lower net sales and profit due to sluggish demand in China and other factors have continued.
  23. FY2020-Q2WorsenedAnnual report

    「In the overseas-related business, revenue and profit declined due to sluggish demand in China and other factors. As a result, revenue in this segment was ¥35,826 million, down 2.5% year on year, and operating profit was ¥1,536 million, down 9.1%.」

    While maintaining an operating profit, overseas operations posted lower net sales and profit due to sluggish demand in China and other factors.
  24. FY2020-Q1WorsenedAnnual report

    「In the overseas-related business, revenue increased due to an increase in consolidated subsidiaries, but profit declined because of sluggish demand in China and other factors. As a result, revenue in this segment was ¥18,809 million, up 5.8% year on year, and operating profit was ¥818 million, down 12.1%.」

    Overseas operations secured operating income of ¥818 million, but profit fell 12.1% year on year due to sluggish demand in China and other factors.
  25. FY2019AdvancedAnnual report

    「Overseas operations posted increases in both net sales and profit due to the increase in consolidated subsidiaries and the solid performance of the corrugated packaging and heavy-duty packaging businesses. As a result, segment net sales were ¥73,271 million, up 9.0% year on year, and operating income was ¥3,395 million, up 47.5%.」

    The increase in consolidated subsidiaries and the solid performance of the corrugated packaging and heavy-duty packaging businesses confirmed the full-year increase in net sales and profit for overseas operations.
  26. FY2019-Q3AdvancedAnnual report

    「The overseas-related business reported higher revenue and operating profit due to an increase in consolidated subsidiaries and steady performance in the corrugated and heavy-duty packaging businesses. As a result, segment revenue was ¥55,729 million, up 16.6% year on year, and operating profit was ¥2,607 million, up 45.7%.」

    The increase in consolidated subsidiaries and the solid performance of the corrugated packaging and heavy-duty packaging businesses expanded both net sales and operating income in overseas operations.
  27. FY2019-Q2AdvancedAnnual report

    「Overseas operations posted increases in both net sales and profit due to the increase in consolidated subsidiaries and the solid performance of the corrugated packaging and heavy-duty packaging businesses. As a result, segment net sales were ¥36,746 million, up 22.6% year on year, and operating income was ¥1,689 million, up 54.4%.」

    The increase in consolidated subsidiaries and the solid performance of the corrugated packaging and heavy-duty packaging businesses expanded net sales and operating income in overseas operations.
  28. FY2019-Q1AdvancedAnnual report

    「As a result, segment net sales were ¥17,784 million, up 22.5% year on year, and operating income was ¥931 million, up 117.5%.」

    Supported by the increase in consolidated subsidiaries and the solid performance of the corrugated packaging business, overseas operations substantially exceeded the year-earlier period in both net sales and operating income.
  29. FY2018AdvancedAnnual report

    「Overseas operations posted increases in both net sales and profit due to the contribution from the results of Tri-Wall Holdings, which became a consolidated subsidiary, as well as the strong performance of the corrugated packaging business. As a result, segment net sales were ¥67,236 million, up 150.9% year on year, and operating income was ¥2,301 million, up 178.9%.」

    The contribution from Tri-Wall and the strong performance of the corrugated packaging business substantially expanded net sales and operating income in overseas operations.
  30. FY2018-Q3AdvancedAnnual report

    「As a result, segment net sales were ¥47,785 million, up 173.6% year on year, and operating income was ¥1,789 million, up 269.6%.」

    Supported by the contribution from Tri-Wall and the strong performance of the corrugated packaging business, overseas operations substantially exceeded the year-earlier period in both net sales and operating income. Overseas corrugated packaging production was 230 million square meters, while corrugated box production was 209 million square meters.
  31. FY2018-Q2AdvancedAnnual report

    「The overseas-related business reported higher revenue and operating profit, supported by contributions from Tri-Wall Holdings, which became a consolidated subsidiary, and strong performance in the corrugated business. As a result, segment revenue was ¥29,980 million, up 156.7% year on year, and operating profit was ¥1,094 million, up 381.9%.」

    Supported by the contribution from Tri-Wall and the strong performance of the corrugated packaging business, overseas operations grew to net sales of ¥29,980 million and operating income of ¥1,094 million.
  32. FY2018-Q1AdvancedAnnual report

    「The overseas-related business reported higher revenue and operating profit as the performance of the Tri-Wall Group began contributing from the first quarter. As a result, segment revenue was ¥14,522 million, up 128.0% year on year, and operating profit was ¥428 million, up 520.3%.」

    Overseas operations recorded net sales of ¥14,522 million and operating income of ¥428 million, with the contribution from the Tri-Wall group making the increases in net sales and profit tangible.
  33. FY2017AdvancedAnnual report

    「As a result, segment net sales were ¥26,802 million, up 1.8% year on year, and operating income was ¥825 million, up 134.4%.」

    Overseas operations posted increases in both net sales and profit, with operating income of ¥825 million, up 134.4% year on year.
  34. FY2017-Q3AdvancedAnnual report

    「As a result, segment net sales were ¥17,464 million, down 12.9% year on year, and operating income was ¥484 million, up 300.0%.」

    While net sales declined due to the stronger yen, overseas operations recorded operating income of ¥484 million, achieving a 300.0% year-on-year increase in profit.
  35. FY2017-Q2AdvancedAnnual report

    「In the overseas-related business, revenue declined partly due to the impact of exchange rates as the yen strengthened, but the business became profitable at the operating level because the flexible packaging business performed steadily and for other reasons. As a result, revenue in this segment was ¥11,680 million, down 17.0% year on year, and operating profit was ¥227 million, compared with an operating loss of ¥135 million in the same period of the previous year.」

    Despite lower net sales due to the stronger yen, overseas operations moved from an operating loss in the year-earlier period to an operating profit of ¥227 million.
  36. FY2017-Q1AdvancedAnnual report

    「Overseas operations posted lower net sales, partly due to the impact of exchange rates as the yen strengthened, but achieved an operating profit due in part to the solid performance of the flexible packaging business. As a result, segment net sales were ¥6,370 million, down 9.2% year on year, and operating income was ¥69 million, compared with an operating loss of ¥141 million in the year-earlier period.」

    Overseas operations moved from an operating loss in the year-earlier period to an operating profit, recording operating income of ¥69 million.
  37. FY2016First statedAnnual report

    「Overseas operations posted lower net sales, partly due to a decline in sales volumes in the corrugated packaging business in China, but achieved an operating profit due in part to the solid performance of the flexible packaging business. As a result, segment net sales were ¥26,338 million, down 5.9% year on year, and operating income was ¥352 million, compared with an operating loss of ¥653 million in the previous fiscal year.」

    While overseas operations posted lower net sales, operating income moved from a loss in the previous fiscal year to a profit.
Moved together

"Recovery in Operating Profit and Ordinary Profit" moved the same way as this thread, in the same document, in 23 of its 38 moves.

232017171513★123456
  1. ★This thread
  2. 1Recovery in Operating Profit and Ordinary Profit23×
  3. 2Overseas Business Expansion and Earnings Improvement20×
  4. 3Strengthening the Heavy-Duty Corrugated Cardboard Business Through the Acquisition of Tri-Wall17×
  5. 4Contingent liabilities arising from debt guarantees to group companies and other entities17×
  6. 5Foreign-Exchange, Economic and Political Risks in Overseas Operations15×
  7. 6Share Price Fluctuations in Held Shares and Their Impact on Pension Assets13×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
Rengo's next results are scheduled for 2026-11-05. Read the earnings preview It last moved in the Earnings of 2026-08-05: "Advanced".
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Overseas-related business achieves operating profitability | Rengo Co.,Ltd. (3941) | Komori