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Process Industries

Rengo Co., Ltd.

Business Summary

Rengo Co., Ltd. engages in the manufacture and sale of packaging materials and equipment. It operates through the following segments: Paperboard and Packaging-Related Business, Flexible Packaging-Related Business, Heavy Duty Packaging-Related Business, Overseas Business, and Others. The Paperboard and Packaging-Related Business segment manufactures and sells paperboards, corrugated boards, and corrugated containers. The Flexible Packaging-Related Business segment manufactures and sells of flexible packaging and cellophanes. The Heavy Duty Packaging-Related Business segment manufactures and sells heavy duty packaging products. The Overseas Business segment handles the overseas operations of paperboards, corrugated boxes, flexible packaging, and heavy duty packaging products. The Others segment manufactures and sells nonwoven products, paper packaging machinery, printing papers, and other businesses which includes transport, insurance agency, leasing, and real estate services. The company was founded by Teijiro Inoue on April 12, 1909 and is headquartered in Osaka, Japan.

Financial Highlights

Mar 2021 JPYUSD
Gross Profit131,322M1,238.21M
Operating income39,940M376.58M
Income before tax41,204M388.50M
Net income28,600M269.66M
Diluted EPS115.511.08
Dividends Per Share240.22
Total Assets870,067M7,873.90M
Total liabilities545,602M4,937.57M
Total equity313,327M2,835.53M
Operating cash flow66,000M622.30M
Currency in JPYCurrency in USD

Historical Data

 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 545,489M 605,712M 653,107M 683,780M 680,714M
Gross Profit 97,381M 98,058M 109,722M 131,105M 131,322M
Operating income 23,643M 17,083M 25,294M 41,229M 39,940M
Income before tax 24,186M 23,366M 25,075M 41,090M 41,204M
Net income 13,876M 16,622M 17,164M 27,790M 28,600M
EBITDA 54,373M 49,511M 59,029M 77,662M 80,014M
Diluted EPS 56.04 67.13 69.32 112.24 115.51
Dividends Per Share 12 12 14 20 24
Total Assets 705,045M 747,872M 769,471M 820,205M 870,067M
Total liabilities 463,532M 485,289M 494,772M 531,383M 545,602M
Total equity 234,242M 255,015M 263,948M 278,255M 313,327M
Operating cash flow 42,004M 31,249M 50,857M 61,079M 66,000M
 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 5,037.41M 5,465.11M 5,889.43M 6,289.03M 6,418.35M
Gross Profit 899.28M 884.74M 989.42M 1,205.83M 1,238.21M
Operating income 218.33M 154.13M 228.09M 379.20M 376.58M
Income before tax 223.34M 210.82M 226.11M 377.92M 388.50M
Net income 128.14M 149.97M 154.77M 255.59M 269.66M
EBITDA 502.11M 446.71M 532.29M 714.29M 754.44M
Diluted EPS 0.51 0.60 0.62 1.03 1.08
Dividends Per Share 0.11 0.10 0.12 0.18 0.22
Total Assets 6,327.24M 7,032.17M 6,951.90M 7,597.65M 7,873.90M
Total liabilities 4,159.84M 4,563.13M 4,470.09M 4,922.26M 4,937.57M
Total equity 2,102.14M 2,397.88M 2,384.67M 2,577.50M 2,835.53M
Operating cash flow 387.89M 281.94M 458.60M 561.77M 622.30M

Valuation Measures

Mar 2021
Operating margin5.86%
Profit margin4.20%

Key executives

  • Chairman & Chief Executive Officer: Kiyoshi Otsubo
  • President, COO & Representative Director: Yosuke Kawamoto
  • Director, Head-Finance & Information Systems: Yasuhiro Baba
  • Head-Research & Technology Development: Hiroshi Ebihara
  • Head-Administration & Technology Development: Mitsumasa Yokota


  • Rengo Co., Ltd. (8.2%)
  • Nomura Asset Management Co., Ltd. (4.6%)
  • Asset Management One Co., Ltd. (4.1%)
  • Sumitomo Mitsui Financial Group, Inc. (3.5%)
  • Nikko Asset Management Co., Ltd. (3.2%)
  • Sumitomo Mitsui Trust Asset Management Co., Ltd. (2.9%)
  • Sumitomo Life Insurance Co. (2.5%)
  • Japan Agricultural Cooperatives Group (2.2%)
  • The Vanguard Group, Inc. (1.8%)
  • Norges Bank Investment Management (1.6%)

Contact Details

  • Website:
  • Address: Nakanoshima Central Tower, 2-2-7 Nakanoshima, Osaka, 530-0005, Japan
  • Phone: +81.6.6223.2371

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  • Pal Tech (Asia) Co. Ltd.
  • Yamato-Shiki (Thailand) Co. Ltd.
  • Guangdong Rengo Packaging Co. Ltd.
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  • Lianyungang Benyi Chemicals Co. Ltd.
  • Rengo Employee Stock Ownership Plan
  • Hiroka Shiki KK
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  • Kyowa Shigyo Co., Ltd.
  • Tianjin Rengo Packaging Co., Ltd.
  • Qingdao Rengo Packaging Co. Ltd.
  • Rengo Packaging, Inc.
  • TCG Rengo Subang (M) Sdn. Bhd.
  • Shinwa Shiki KK
  • Chung Loong Paper Holdings Ltd. (Cayman)
  • Shanghai Rengo Packaging Co., Ltd.
  • Thai Containers Ratchaburi 1989 Co. Ltd.
  • Thai Containers Ltd.


    Last Updated on 2 Dec, 2021

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