ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
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 2022 JPYUSD
Gross Profit133,526M1,188.24M
Operating income33,280M296.15M
Income before tax41,437M368.74M
Net income28,189M250.85M
Diluted EPS113.831.01
Dividends Per Share240.21
Total Assets934,345M7,698.00M
Total liabilities580,052M4,779.00M
Total equity341,910M2,816.97M
Operating cash flow57,893M515.18M
Currency in JPYCurrency in USD

Historical Data

 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 605,712M 653,107M 683,780M 680,714M 746,926M
Gross Profit 98,058M 109,722M 131,105M 131,322M 133,526M
Operating income 17,083M 25,294M 41,229M 39,940M 33,280M
Income before tax 23,366M 25,075M 41,090M 41,204M 41,437M
Net income 16,622M 17,164M 27,790M 28,600M 28,189M
EBITDA 49,511M 59,029M 77,662M 80,014M 77,193M
Diluted EPS 67.13 69.32 112.24 115.51 113.83
Dividends Per Share 12 14 20 24 24
Total Assets 747,872M 769,471M 820,205M 870,067M 934,345M
Total liabilities 485,289M 494,772M 531,383M 545,602M 580,052M
Total equity 255,015M 263,948M 278,255M 313,327M 341,910M
Operating cash flow 31,249M 50,857M 61,079M 66,000M 57,893M
 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 5,465.11M 5,889.43M 6,289.03M 6,418.35M 6,646.86M
Gross Profit 884.74M 989.42M 1,205.83M 1,238.21M 1,188.24M
Operating income 154.13M 228.09M 379.20M 376.58M 296.15M
Income before tax 210.82M 226.11M 377.92M 388.50M 368.74M
Net income 149.97M 154.77M 255.59M 269.66M 250.85M
EBITDA 446.71M 532.29M 714.29M 754.44M 686.93M
Diluted EPS 0.60 0.62 1.03 1.08 1.01
Dividends Per Share 0.10 0.12 0.18 0.22 0.21
Total Assets 7,032.17M 6,951.90M 7,597.65M 7,873.90M 7,698.00M
Total liabilities 4,563.13M 4,470.09M 4,922.26M 4,937.57M 4,779.00M
Total equity 2,397.88M 2,384.67M 2,577.50M 2,835.53M 2,816.97M
Operating cash flow 281.94M 458.60M 561.77M 622.30M 515.18M

Valuation Measures

Mar 2022
Operating margin4.45%
Profit margin3.77%

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%)
  • Asset Management One Co., Ltd. (4.1%)
  • Nomura Asset Management Co., Ltd. (3.9%)
  • Sumitomo Mitsui Trust Asset Management Co., Ltd. (3.5%)
  • Sumitomo Mitsui Financial Group, Inc. (3.5%)
  • Nikko Asset Management Co., Ltd. (2.9%)
  • Sumitomo Life Insurance Co. (2.5%)
  • Japan Agricultural Cooperatives Group (2.2%)
  • Dimensional Fund Advisors LP (2.0%)
  • Norges Bank Investment Management (1.8%)

Contact Details

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

Related Companies

  • Takigawa Corp. Singapore Pte Ltd.
  • Converting Technologies KK
  • Otsu Seikan KK
  • Hiropax KK
  • Nagai Tekko Co., Ltd.
  • RG Containers Co., Ltd.
  • Rengo Board Incentive Plan
  • TriCor GmbH
  • Nishihara-Shigyo Co., Ltd.
  • Takedashiki KK
  • Sanwa Danboru KK
  • Kato Danboru Co. Ltd.
  • Sugii Kogyousho KK
  • Kato Corrugated Paper Co., Ltd.
  • Howa (Shanghai) Co. Ltd.
  • Dalian Guoli Packaging Co. Ltd.
  • Dalian Marsol Trading Co. Ltd.
  • Pal Tech (Asia) Co. Ltd.
  • Yamato-Shiki (Thailand) Co. Ltd.
  • Guangdong Rengo Packaging Co. Ltd.
  • Rengo Packaging Malaysia Sdn. Bhd.
  • Lianyungang Benyi Chemicals Co. Ltd.
  • Rengo Employee Stock Ownership Plan
  • Hiroka Shiki KK
  • Hoso Shizai Co., Ltd.
  • Kyowa Shigyo Co., Ltd.
  • Tianjin Rengo Packaging Co., Ltd.
  • Qingdao Rengo Packaging Co. Ltd.
  • Rengo Packaging, Inc.
  • TCG Rengo Subang (M) Sdn. Bhd.


    Last Updated on 10 Aug, 2022

    Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

    Celebrate our next chapter
    Free access for everyone - Sep. 30

    Find out more