<?xml version="1.0" encoding="utf-8"?>
<!-- XBRL Document Created with WizLabo Platform -->
<link:linkbase xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:link="http://www.xbrl.org/2003/linkbase">
  <link:roleRef xlink:type="simple" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_rt_2023-12-01.xsd#rol_BalanceSheet" roleURI="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_BalanceSheet" />
  <link:roleRef xlink:type="simple" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_rt_2023-12-01.xsd#rol_ConsolidatedBalanceSheet" roleURI="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_ConsolidatedBalanceSheet" />
  <link:roleRef xlink:type="simple" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_rt_2023-12-01.xsd#rol_ConsolidatedStatementOfCashFlows-indirect" roleURI="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_ConsolidatedStatementOfCashFlows-indirect" />
  <link:roleRef xlink:type="simple" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_rt_2023-12-01.xsd#rol_ConsolidatedStatementOfChangesInEquity" roleURI="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_ConsolidatedStatementOfChangesInEquity" />
  <link:roleRef xlink:type="simple" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_rt_2023-12-01.xsd#rol_ConsolidatedStatementOfComprehensiveIncome" roleURI="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_ConsolidatedStatementOfComprehensiveIncome" />
  <link:roleRef xlink:type="simple" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_rt_2023-12-01.xsd#rol_ConsolidatedStatementOfIncome" roleURI="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_ConsolidatedStatementOfIncome" />
  <link:roleRef xlink:type="simple" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_rt_2023-12-01.xsd#rol_StatementOfChangesInEquity" roleURI="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_StatementOfChangesInEquity" />
  <link:roleRef xlink:type="simple" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_rt_2023-12-01.xsd#rol_StatementOfIncome" roleURI="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_StatementOfIncome" />
  <link:calculationLink xlink:type="extended" xlink:role="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_ConsolidatedBalanceSheet">
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_AccountsForNonDeliveredSecuritiesAndOthersCASEC" xlink:label="jppfs_cor_AccountsForNonDeliveredSecuritiesAndOthersCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_AccountsForNonReceivedSecuritiesAndOthersCLSEC" xlink:label="jppfs_cor_AccountsForNonReceivedSecuritiesAndOthersCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_AccruedIncome" xlink:label="jppfs_cor_AccruedIncome" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_AdvancesPaidCASEC" xlink:label="jppfs_cor_AdvancesPaidCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_AllowanceForDoubtfulAccountsCA" xlink:label="jppfs_cor_AllowanceForDoubtfulAccountsCA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_AllowanceForDoubtfulAccountsIOAByGroup" xlink:label="jppfs_cor_AllowanceForDoubtfulAccountsIOAByGroup" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_Assets" xlink:label="jppfs_cor_Assets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_BorrowingsOnGensakiTransactionCLSEC" xlink:label="jppfs_cor_BorrowingsOnGensakiTransactionCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_BorrowingsOnMarginTransactionsCLSEC" xlink:label="jppfs_cor_BorrowingsOnMarginTransactionsCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_BuildingsNet" xlink:label="jppfs_cor_BuildingsNet" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CapitalStock" xlink:label="jppfs_cor_CapitalStock" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CapitalSurplus" xlink:label="jppfs_cor_CapitalSurplus" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CashAndDeposits" xlink:label="jppfs_cor_CashAndDeposits" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CashCollateralPledgedForSecuritiesBorrowedCASEC" xlink:label="jppfs_cor_CashCollateralPledgedForSecuritiesBorrowedCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CashCollateralPledgedForSecuritiesBorrowingOnMarginTransactionsCASEC" xlink:label="jppfs_cor_CashCollateralPledgedForSecuritiesBorrowingOnMarginTransactionsCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CashReceivedForSecuritiesLendingOnMarginTransactionsCLSEC" xlink:label="jppfs_cor_CashReceivedForSecuritiesLendingOnMarginTransactionsCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CashReceivedOnDebtCreditTransactionOfSecuritiesCLSEC" xlink:label="jppfs_cor_CashReceivedOnDebtCreditTransactionOfSecuritiesCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CashSegregatedAsDepositsCASEC" xlink:label="jppfs_cor_CashSegregatedAsDepositsCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CashSegregatedAsDepositsForCustomersCASEC" xlink:label="jppfs_cor_CashSegregatedAsDepositsForCustomersCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CashSegregatedAsDepositsForOthersCASEC" xlink:label="jppfs_cor_CashSegregatedAsDepositsForOthersCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CurrentAssets" xlink:label="jppfs_cor_CurrentAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CurrentLiabilities" xlink:label="jppfs_cor_CurrentLiabilities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CurrentPortionOfBonds" xlink:label="jppfs_cor_CurrentPortionOfBonds" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DeferredTaxAssets" xlink:label="jppfs_cor_DeferredTaxAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DeferredTaxLiabilities" xlink:label="jppfs_cor_DeferredTaxLiabilities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DeferredTaxLiabilitiesForLandRevaluation" xlink:label="jppfs_cor_DeferredTaxLiabilitiesForLandRevaluation" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DepositsReceivedCLSEC" xlink:label="jppfs_cor_DepositsReceivedCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DerivativesCASEC" xlink:label="jppfs_cor_DerivativesCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DerivativesCLSEC" xlink:label="jppfs_cor_DerivativesCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_EquipmentPPESEC" xlink:label="jppfs_cor_EquipmentPPESEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ForeignCurrencyTranslationAdjustment" xlink:label="jppfs_cor_ForeignCurrencyTranslationAdjustment" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_GuaranteeDepositsIOA" xlink:label="jppfs_cor_GuaranteeDepositsIOA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_GuaranteeDepositsReceivedCLSEC" xlink:label="jppfs_cor_GuaranteeDepositsReceivedCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncomeTaxesPayable" xlink:label="jppfs_cor_IncomeTaxesPayable" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IntangibleAssets" xlink:label="jppfs_cor_IntangibleAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_InvestmentsAndOtherAssets" xlink:label="jppfs_cor_InvestmentsAndOtherAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_InvestmentSecurities" xlink:label="jppfs_cor_InvestmentSecurities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_Land" xlink:label="jppfs_cor_Land" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LeaseAssetsNetPPE" xlink:label="jppfs_cor_LeaseAssetsNetPPE" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LeaseObligationsNCL" xlink:label="jppfs_cor_LeaseObligationsNCL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_Liabilities" xlink:label="jppfs_cor_Liabilities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LiabilitiesAndNetAssets" xlink:label="jppfs_cor_LiabilitiesAndNetAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LoansOnGensakiTransactionsCASEC" xlink:label="jppfs_cor_LoansOnGensakiTransactionsCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LoansOnMarginTransactionsCASEC" xlink:label="jppfs_cor_LoansOnMarginTransactionsCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LoansPayableSecuredBySecuritiesCLSEC" xlink:label="jppfs_cor_LoansPayableSecuredBySecuritiesCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LoansSecuredBySecuritiesCASEC" xlink:label="jppfs_cor_LoansSecuredBySecuritiesCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LongTermLoansPayable" xlink:label="jppfs_cor_LongTermLoansPayable" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LongTermLoansReceivable" xlink:label="jppfs_cor_LongTermLoansReceivable" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_MarginTransactionAssetsCASEC" xlink:label="jppfs_cor_MarginTransactionAssetsCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_MarginTransactionLiabilitiesCLSEC" xlink:label="jppfs_cor_MarginTransactionLiabilitiesCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetAssets" xlink:label="jppfs_cor_NetAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetDefinedBenefitAsset" xlink:label="jppfs_cor_NetDefinedBenefitAsset" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetDefinedBenefitLiability" xlink:label="jppfs_cor_NetDefinedBenefitLiability" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NonControllingInterests" xlink:label="jppfs_cor_NonControllingInterests" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NoncurrentAssets" xlink:label="jppfs_cor_NoncurrentAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NoncurrentLiabilities" xlink:label="jppfs_cor_NoncurrentLiabilities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherCA" xlink:label="jppfs_cor_OtherCA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherCL" xlink:label="jppfs_cor_OtherCL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherIA" xlink:label="jppfs_cor_OtherIA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherIOA" xlink:label="jppfs_cor_OtherIOA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherNCL" xlink:label="jppfs_cor_OtherNCL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PropertyPlantAndEquipment" xlink:label="jppfs_cor_PropertyPlantAndEquipment" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProvisionForBonuses" xlink:label="jppfs_cor_ProvisionForBonuses" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProvisionForDirectorsRetirementBenefits" xlink:label="jppfs_cor_ProvisionForDirectorsRetirementBenefits" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_RemeasurementsOfDefinedBenefitPlans" xlink:label="jppfs_cor_RemeasurementsOfDefinedBenefitPlans" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ReserveForFinancialProductsTransactionLiabilitiesReservesUnderTheSpecialLawsSEC" xlink:label="jppfs_cor_ReserveForFinancialProductsTransactionLiabilitiesReservesUnderTheSpecialLawsSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ReservesUnderTheSpecialLaws1" xlink:label="jppfs_cor_ReservesUnderTheSpecialLaws1" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_RetainedEarnings" xlink:label="jppfs_cor_RetainedEarnings" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_RevaluationReserveForLand" xlink:label="jppfs_cor_RevaluationReserveForLand" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ShareholdersEquity" xlink:label="jppfs_cor_ShareholdersEquity" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ShortTermGuaranteeDepositsCASEC" xlink:label="jppfs_cor_ShortTermGuaranteeDepositsCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ShortTermInvestmentSecurities" xlink:label="jppfs_cor_ShortTermInvestmentSecurities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ShortTermLoansPayable" xlink:label="jppfs_cor_ShortTermLoansPayable" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ShortTermLoansReceivable" xlink:label="jppfs_cor_ShortTermLoansReceivable" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_Software" xlink:label="jppfs_cor_Software" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_SubscriptionRightsToShares" xlink:label="jppfs_cor_SubscriptionRightsToShares" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TradeDateAccrualCASEC" xlink:label="jppfs_cor_TradeDateAccrualCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TradeDateAccrualCLSEC" xlink:label="jppfs_cor_TradeDateAccrualCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TradingProductsCASEC" xlink:label="jppfs_cor_TradingProductsCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TradingProductsCLSEC" xlink:label="jppfs_cor_TradingProductsCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TradingSecuritiesAndOtherCASEC" xlink:label="jppfs_cor_TradingSecuritiesAndOtherCASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TradingSecuritiesAndOtherCLSEC" xlink:label="jppfs_cor_TradingSecuritiesAndOtherCLSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TreasuryStock" xlink:label="jppfs_cor_TreasuryStock" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ValuationAndTranslationAdjustments" xlink:label="jppfs_cor_ValuationAndTranslationAdjustments" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ValuationDifferenceOnAvailableForSaleSecurities" xlink:label="jppfs_cor_ValuationDifferenceOnAvailableForSaleSecurities" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_Assets" xlink:to="jppfs_cor_CurrentAssets" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_Assets" xlink:to="jppfs_cor_NoncurrentAssets" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_CashSegregatedAsDepositsCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CashSegregatedAsDepositsCASEC" xlink:to="jppfs_cor_CashSegregatedAsDepositsForCustomersCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CashSegregatedAsDepositsCASEC" xlink:to="jppfs_cor_CashSegregatedAsDepositsForOthersCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_CashAndDeposits" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_TradingProductsCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_TradeDateAccrualCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_MarginTransactionAssetsCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_LoansSecuredBySecuritiesCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_AdvancesPaidCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="7" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_ShortTermGuaranteeDepositsCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="8" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_AccountsForNonDeliveredSecuritiesAndOthersCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="9" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_ShortTermLoansReceivable" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="10" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_AccruedIncome" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="11" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_ShortTermInvestmentSecurities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="12" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_OtherCA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="13" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_AllowanceForDoubtfulAccountsCA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="14" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_Liabilities" xlink:to="jppfs_cor_CurrentLiabilities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_TradingProductsCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_TradeDateAccrualCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_MarginTransactionLiabilitiesCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_LoansPayableSecuredBySecuritiesCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_DepositsReceivedCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_GuaranteeDepositsReceivedCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_AccountsForNonReceivedSecuritiesAndOthersCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="7" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_ShortTermLoansPayable" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="8" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_CurrentPortionOfBonds" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="9" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_IncomeTaxesPayable" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="10" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_ProvisionForBonuses" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="11" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_OtherCL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="12" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_IntangibleAssets" xlink:to="jppfs_cor_Software" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_IntangibleAssets" xlink:to="jppfs_cor_OtherIA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_InvestmentSecurities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_LongTermLoansReceivable" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_NetDefinedBenefitAsset" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_GuaranteeDepositsIOA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_DeferredTaxAssets" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_OtherIOA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_AllowanceForDoubtfulAccountsIOAByGroup" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="7" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_LiabilitiesAndNetAssets" xlink:to="jppfs_cor_Liabilities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_Liabilities" xlink:to="jppfs_cor_NoncurrentLiabilities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_Liabilities" xlink:to="jppfs_cor_ReservesUnderTheSpecialLaws1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_LiabilitiesAndNetAssets" xlink:to="jppfs_cor_NetAssets" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_LoansPayableSecuredBySecuritiesCLSEC" xlink:to="jppfs_cor_CashReceivedOnDebtCreditTransactionOfSecuritiesCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_LoansPayableSecuredBySecuritiesCLSEC" xlink:to="jppfs_cor_BorrowingsOnGensakiTransactionCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_LoansSecuredBySecuritiesCASEC" xlink:to="jppfs_cor_LoansOnGensakiTransactionsCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_LoansSecuredBySecuritiesCASEC" xlink:to="jppfs_cor_CashCollateralPledgedForSecuritiesBorrowedCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_MarginTransactionAssetsCASEC" xlink:to="jppfs_cor_LoansOnMarginTransactionsCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_MarginTransactionAssetsCASEC" xlink:to="jppfs_cor_CashCollateralPledgedForSecuritiesBorrowingOnMarginTransactionsCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_MarginTransactionLiabilitiesCLSEC" xlink:to="jppfs_cor_BorrowingsOnMarginTransactionsCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_MarginTransactionLiabilitiesCLSEC" xlink:to="jppfs_cor_CashReceivedForSecuritiesLendingOnMarginTransactionsCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetAssets" xlink:to="jppfs_cor_ShareholdersEquity" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetAssets" xlink:to="jppfs_cor_ValuationAndTranslationAdjustments" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetAssets" xlink:to="jppfs_cor_SubscriptionRightsToShares" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetAssets" xlink:to="jppfs_cor_NonControllingInterests" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentAssets" xlink:to="jppfs_cor_PropertyPlantAndEquipment" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentAssets" xlink:to="jppfs_cor_IntangibleAssets" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentAssets" xlink:to="jppfs_cor_InvestmentsAndOtherAssets" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentLiabilities" xlink:to="jppfs_cor_LongTermLoansPayable" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentLiabilities" xlink:to="jppfs_cor_LeaseObligationsNCL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentLiabilities" xlink:to="jppfs_cor_DeferredTaxLiabilitiesForLandRevaluation" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentLiabilities" xlink:to="jppfs_cor_DeferredTaxLiabilities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentLiabilities" xlink:to="jppfs_cor_ProvisionForDirectorsRetirementBenefits" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentLiabilities" xlink:to="jppfs_cor_NetDefinedBenefitLiability" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentLiabilities" xlink:to="jppfs_cor_OtherNCL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="7" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_PropertyPlantAndEquipment" xlink:to="jppfs_cor_BuildingsNet" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_PropertyPlantAndEquipment" xlink:to="jppfs_cor_EquipmentPPESEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_PropertyPlantAndEquipment" xlink:to="jppfs_cor_Land" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_PropertyPlantAndEquipment" xlink:to="jppfs_cor_LeaseAssetsNetPPE" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ReservesUnderTheSpecialLaws1" xlink:to="jppfs_cor_ReserveForFinancialProductsTransactionLiabilitiesReservesUnderTheSpecialLawsSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ShareholdersEquity" xlink:to="jppfs_cor_CapitalStock" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ShareholdersEquity" xlink:to="jppfs_cor_CapitalSurplus" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ShareholdersEquity" xlink:to="jppfs_cor_RetainedEarnings" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ShareholdersEquity" xlink:to="jppfs_cor_TreasuryStock" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TradingProductsCASEC" xlink:to="jppfs_cor_TradingSecuritiesAndOtherCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TradingProductsCASEC" xlink:to="jppfs_cor_DerivativesCASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TradingProductsCLSEC" xlink:to="jppfs_cor_TradingSecuritiesAndOtherCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TradingProductsCLSEC" xlink:to="jppfs_cor_DerivativesCLSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ValuationAndTranslationAdjustments" xlink:to="jppfs_cor_ValuationDifferenceOnAvailableForSaleSecurities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ValuationAndTranslationAdjustments" xlink:to="jppfs_cor_RevaluationReserveForLand" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ValuationAndTranslationAdjustments" xlink:to="jppfs_cor_ForeignCurrencyTranslationAdjustment" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ValuationAndTranslationAdjustments" xlink:to="jppfs_cor_RemeasurementsOfDefinedBenefitPlans" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_ConsolidatedStatementOfIncome">
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CommissionForUnderwritingSecondaryDistributionAndSolicitationForSellingAndOthersForProfessionalInvestorsORSEC" xlink:label="jppfs_cor_CommissionForUnderwritingSecondaryDistributionAndSolicitationForSellingAndOthersForProfessionalInvestorsORSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CommissionReceivedORSEC" xlink:label="jppfs_cor_CommissionReceivedORSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CommissionToConsigneesORSEC" xlink:label="jppfs_cor_CommissionToConsigneesORSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CompensationExpensesNOE" xlink:label="jppfs_cor_CompensationExpensesNOE" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DepreciationSGA" xlink:label="jppfs_cor_DepreciationSGA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DividendsIncomeNOI" xlink:label="jppfs_cor_DividendsIncomeNOI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_EquityInEarningsOfAffiliatesNOI" xlink:label="jppfs_cor_EquityInEarningsOfAffiliatesNOI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ExtraordinaryIncome" xlink:label="jppfs_cor_ExtraordinaryIncome" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ExtraordinaryLoss" xlink:label="jppfs_cor_ExtraordinaryLoss" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_FeeForOfferingSecondaryDistributionAndSolicitationForSellingAndOthersForProfessionalInvestorsORSEC" xlink:label="jppfs_cor_FeeForOfferingSecondaryDistributionAndSolicitationForSellingAndOthersForProfessionalInvestorsORSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_FinancialExpensesSEC" xlink:label="jppfs_cor_FinancialExpensesSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_FinancialRevenueORSEC" xlink:label="jppfs_cor_FinancialRevenueORSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_GainOnChangeInEquityEI" xlink:label="jppfs_cor_GainOnChangeInEquityEI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_GainOnInvestmentsInPartnershipNOI" xlink:label="jppfs_cor_GainOnInvestmentsInPartnershipNOI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_GainOnReversalOfSubscriptionRightsToSharesEI" xlink:label="jppfs_cor_GainOnReversalOfSubscriptionRightsToSharesEI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_GainOnSalesOfInvestmentSecuritiesEI" xlink:label="jppfs_cor_GainOnSalesOfInvestmentSecuritiesEI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ImpairmentLossEL" xlink:label="jppfs_cor_ImpairmentLossEL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncomeBeforeIncomeTaxes" xlink:label="jppfs_cor_IncomeBeforeIncomeTaxes" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncomeTaxes" xlink:label="jppfs_cor_IncomeTaxes" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncomeTaxesCurrent" xlink:label="jppfs_cor_IncomeTaxesCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncomeTaxesDeferred" xlink:label="jppfs_cor_IncomeTaxesDeferred" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_InterestExpensesNOE" xlink:label="jppfs_cor_InterestExpensesNOE" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossOnInvestmentsInPartnershipNOE" xlink:label="jppfs_cor_LossOnInvestmentsInPartnershipNOE" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossOnSalesAndRetirementOfNoncurrentAssetsNOE" xlink:label="jppfs_cor_LossOnSalesAndRetirementOfNoncurrentAssetsNOE" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossOnSalesOfInvestmentSecuritiesEL" xlink:label="jppfs_cor_LossOnSalesOfInvestmentSecuritiesEL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossOnValuationOfGolfClubMembershipEL" xlink:label="jppfs_cor_LossOnValuationOfGolfClubMembershipEL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossOnValuationOfInvestmentSecuritiesEL" xlink:label="jppfs_cor_LossOnValuationOfInvestmentSecuritiesEL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetOperatingRevenueSEC" xlink:label="jppfs_cor_NetOperatingRevenueSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetTradingIncomeORSEC" xlink:label="jppfs_cor_NetTradingIncomeORSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NonOperatingExpenses" xlink:label="jppfs_cor_NonOperatingExpenses" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NonOperatingIncome" xlink:label="jppfs_cor_NonOperatingIncome" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OfficeCostSGA" xlink:label="jppfs_cor_OfficeCostSGA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OperatingIncome" xlink:label="jppfs_cor_OperatingIncome" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OperatingRevenueSEC" xlink:label="jppfs_cor_OperatingRevenueSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OrdinaryIncome" xlink:label="jppfs_cor_OrdinaryIncome" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherFeesReceivedORSEC" xlink:label="jppfs_cor_OtherFeesReceivedORSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherNOE" xlink:label="jppfs_cor_OtherNOE" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherNOI" xlink:label="jppfs_cor_OtherNOI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherOperatingRevenue1RevOA" xlink:label="jppfs_cor_OtherOperatingRevenue1RevOA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherSGA" xlink:label="jppfs_cor_OtherSGA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PersonalExpensesSGA" xlink:label="jppfs_cor_PersonalExpensesSGA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProfitLoss" xlink:label="jppfs_cor_ProfitLoss" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProvisionOfAllowanceForDoubtfulAccountsSGA" xlink:label="jppfs_cor_ProvisionOfAllowanceForDoubtfulAccountsSGA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProvisionOfReserveForFinancialProductsTransactionLiabilitiesELSEC" xlink:label="jppfs_cor_ProvisionOfReserveForFinancialProductsTransactionLiabilitiesELSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_RealEstateExpensesSGASEC" xlink:label="jppfs_cor_RealEstateExpensesSGASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ReversalOfReserveForFinancialProductsTransactionLiabilitiesEISEC" xlink:label="jppfs_cor_ReversalOfReserveForFinancialProductsTransactionLiabilitiesEISEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:label="jppfs_cor_SellingGeneralAndAdministrativeExpenses" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_SettlementPackageNOE" xlink:label="jppfs_cor_SettlementPackageNOE" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_StockIssuanceCostNOE" xlink:label="jppfs_cor_StockIssuanceCostNOE" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TaxesAndDuesSGA" xlink:label="jppfs_cor_TaxesAndDuesSGA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TradingRelatedExpensesSGASEC" xlink:label="jppfs_cor_TradingRelatedExpensesSGASEC" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CommissionReceivedORSEC" xlink:to="jppfs_cor_CommissionToConsigneesORSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CommissionReceivedORSEC" xlink:to="jppfs_cor_CommissionForUnderwritingSecondaryDistributionAndSolicitationForSellingAndOthersForProfessionalInvestorsORSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CommissionReceivedORSEC" xlink:to="jppfs_cor_FeeForOfferingSecondaryDistributionAndSolicitationForSellingAndOthersForProfessionalInvestorsORSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CommissionReceivedORSEC" xlink:to="jppfs_cor_OtherFeesReceivedORSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryLoss" xlink:to="jppfs_cor_ProvisionOfReserveForFinancialProductsTransactionLiabilitiesELSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryLoss" xlink:to="jppfs_cor_ImpairmentLossEL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryLoss" xlink:to="jppfs_cor_LossOnSalesOfInvestmentSecuritiesEL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryLoss" xlink:to="jppfs_cor_LossOnValuationOfInvestmentSecuritiesEL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryLoss" xlink:to="jppfs_cor_LossOnValuationOfGolfClubMembershipEL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_IncomeBeforeIncomeTaxes" xlink:to="jppfs_cor_OrdinaryIncome" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_IncomeBeforeIncomeTaxes" xlink:to="jppfs_cor_ExtraordinaryIncome" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryIncome" xlink:to="jppfs_cor_GainOnSalesOfInvestmentSecuritiesEI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryIncome" xlink:to="jppfs_cor_GainOnChangeInEquityEI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryIncome" xlink:to="jppfs_cor_ReversalOfReserveForFinancialProductsTransactionLiabilitiesEISEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryIncome" xlink:to="jppfs_cor_GainOnReversalOfSubscriptionRightsToSharesEI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_IncomeBeforeIncomeTaxes" xlink:to="jppfs_cor_ExtraordinaryLoss" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="-1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_IncomeTaxes" xlink:to="jppfs_cor_IncomeTaxesCurrent" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_IncomeTaxes" xlink:to="jppfs_cor_IncomeTaxesDeferred" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetOperatingRevenueSEC" xlink:to="jppfs_cor_OperatingRevenueSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetOperatingRevenueSEC" xlink:to="jppfs_cor_FinancialExpensesSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="-1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OrdinaryIncome" xlink:to="jppfs_cor_NonOperatingExpenses" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="-1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingExpenses" xlink:to="jppfs_cor_InterestExpensesNOE" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingExpenses" xlink:to="jppfs_cor_LossOnSalesAndRetirementOfNoncurrentAssetsNOE" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingExpenses" xlink:to="jppfs_cor_CompensationExpensesNOE" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingExpenses" xlink:to="jppfs_cor_SettlementPackageNOE" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingExpenses" xlink:to="jppfs_cor_LossOnInvestmentsInPartnershipNOE" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingExpenses" xlink:to="jppfs_cor_StockIssuanceCostNOE" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingExpenses" xlink:to="jppfs_cor_OtherNOE" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="7" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OrdinaryIncome" xlink:to="jppfs_cor_NonOperatingIncome" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingIncome" xlink:to="jppfs_cor_DividendsIncomeNOI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingIncome" xlink:to="jppfs_cor_EquityInEarningsOfAffiliatesNOI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingIncome" xlink:to="jppfs_cor_GainOnInvestmentsInPartnershipNOI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingIncome" xlink:to="jppfs_cor_OtherNOI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OperatingIncome" xlink:to="jppfs_cor_NetOperatingRevenueSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OperatingIncome" xlink:to="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="-1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OperatingRevenueSEC" xlink:to="jppfs_cor_CommissionReceivedORSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OperatingRevenueSEC" xlink:to="jppfs_cor_NetTradingIncomeORSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OperatingRevenueSEC" xlink:to="jppfs_cor_FinancialRevenueORSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OperatingRevenueSEC" xlink:to="jppfs_cor_OtherOperatingRevenue1RevOA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OrdinaryIncome" xlink:to="jppfs_cor_OperatingIncome" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ProfitLoss" xlink:to="jppfs_cor_IncomeBeforeIncomeTaxes" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ProfitLoss" xlink:to="jppfs_cor_IncomeTaxes" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="-1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_TradingRelatedExpensesSGASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_PersonalExpensesSGA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_RealEstateExpensesSGASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_OfficeCostSGA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_DepreciationSGA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_TaxesAndDuesSGA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_ProvisionOfAllowanceForDoubtfulAccountsSGA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="7" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_OtherSGA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="8" weight="1" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_ConsolidatedStatementOfComprehensiveIncome">
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ComprehensiveIncome" xlink:label="jppfs_cor_ComprehensiveIncome" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ForeignCurrencyTranslationAdjustmentNetOfTaxOCI" xlink:label="jppfs_cor_ForeignCurrencyTranslationAdjustmentNetOfTaxOCI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherComprehensiveIncome" xlink:label="jppfs_cor_OtherComprehensiveIncome" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProfitLoss" xlink:label="jppfs_cor_ProfitLoss" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_RemeasurementsOfDefinedBenefitPlansNetOfTaxOCI" xlink:label="jppfs_cor_RemeasurementsOfDefinedBenefitPlansNetOfTaxOCI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_RevaluationReserveForLandNetOfTaxOCI" xlink:label="jppfs_cor_RevaluationReserveForLandNetOfTaxOCI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ShareOfOtherComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethodOCI" xlink:label="jppfs_cor_ShareOfOtherComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethodOCI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ValuationDifferenceOnAvailableForSaleSecuritiesNetOfTaxOCI" xlink:label="jppfs_cor_ValuationDifferenceOnAvailableForSaleSecuritiesNetOfTaxOCI" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ComprehensiveIncome" xlink:to="jppfs_cor_ProfitLoss" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ComprehensiveIncome" xlink:to="jppfs_cor_OtherComprehensiveIncome" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OtherComprehensiveIncome" xlink:to="jppfs_cor_ValuationDifferenceOnAvailableForSaleSecuritiesNetOfTaxOCI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OtherComprehensiveIncome" xlink:to="jppfs_cor_RevaluationReserveForLandNetOfTaxOCI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OtherComprehensiveIncome" xlink:to="jppfs_cor_ForeignCurrencyTranslationAdjustmentNetOfTaxOCI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OtherComprehensiveIncome" xlink:to="jppfs_cor_RemeasurementsOfDefinedBenefitPlansNetOfTaxOCI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OtherComprehensiveIncome" xlink:to="jppfs_cor_ShareOfOtherComprehensiveIncomeOfAssociatesAccountedForUsingEquityMethodOCI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_ConsolidatedStatementOfChangesInEquity">
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DisposalOfTreasuryStock" xlink:label="jppfs_cor_DisposalOfTreasuryStock" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DividendsFromSurplus" xlink:label="jppfs_cor_DividendsFromSurplus" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetChangesOfItemsOtherThanShareholdersEquity" xlink:label="jppfs_cor_NetChangesOfItemsOtherThanShareholdersEquity" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProfitLossAttributableToOwnersOfParent" xlink:label="jppfs_cor_ProfitLossAttributableToOwnersOfParent" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PurchaseOfTreasuryStock" xlink:label="jppfs_cor_PurchaseOfTreasuryStock" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:label="jppfs_cor_TotalChangesOfItemsDuringThePeriod" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E03756-000_2024-03-31_01_2024-06-28.xsd#jpcrp030000-asr_E03756-000_ChangeInOwnershipInterestOfParentDueToTransactionsWithNonControllingInterestsSs" xlink:label="jpcrp030000-asr_E03756-000_ChangeInOwnershipInterestOfParentDueToTransactionsWithNonControllingInterestsSs" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E03756-000_2024-03-31_01_2024-06-28.xsd#jpcrp030000-asr_E03756-000_ChangesByShareExchanges" xlink:label="jpcrp030000-asr_E03756-000_ChangesByShareExchanges" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jppfs_cor_DividendsFromSurplus" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jppfs_cor_ProfitLossAttributableToOwnersOfParent" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jppfs_cor_PurchaseOfTreasuryStock" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jppfs_cor_DisposalOfTreasuryStock" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jpcrp030000-asr_E03756-000_ChangeInOwnershipInterestOfParentDueToTransactionsWithNonControllingInterestsSs" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jpcrp030000-asr_E03756-000_ChangesByShareExchanges" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jppfs_cor_NetChangesOfItemsOtherThanShareholdersEquity" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="7" weight="1" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_ConsolidatedStatementOfCashFlows-indirect">
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CashDividendsPaidFinCF" xlink:label="jppfs_cor_CashDividendsPaidFinCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DecreaseIncreaseInAdvancePaidOpeCFSEC" xlink:label="jppfs_cor_DecreaseIncreaseInAdvancePaidOpeCFSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DecreaseIncreaseInAssetsLiabilitiesForMarginTransactionOpeCFSEC" xlink:label="jppfs_cor_DecreaseIncreaseInAssetsLiabilitiesForMarginTransactionOpeCFSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DecreaseIncreaseInCashSegregatedAsDepositsForCustomersOpeCFSEC" xlink:label="jppfs_cor_DecreaseIncreaseInCashSegregatedAsDepositsForCustomersOpeCFSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DecreaseIncreaseInLoansBorrowingsSecuredBySecuritiesOpeCFSEC" xlink:label="jppfs_cor_DecreaseIncreaseInLoansBorrowingsSecuredBySecuritiesOpeCFSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DecreaseIncreaseInShortTermGuaranteeDepositsOpeCFSEC" xlink:label="jppfs_cor_DecreaseIncreaseInShortTermGuaranteeDepositsOpeCFSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DecreaseIncreaseInShortTermLoansReceivableOpeCFSEC" xlink:label="jppfs_cor_DecreaseIncreaseInShortTermLoansReceivableOpeCFSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DecreaseIncreaseInTradingProductsAssetsLiabilitiesOpeCFSEC" xlink:label="jppfs_cor_DecreaseIncreaseInTradingProductsAssetsLiabilitiesOpeCFSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DepreciationAndAmortizationOpeCF" xlink:label="jppfs_cor_DepreciationAndAmortizationOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DividendsPaidToNonControllingInterestsFinCF" xlink:label="jppfs_cor_DividendsPaidToNonControllingInterestsFinCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_EffectOfExchangeRateChangeOnCashAndCashEquivalents" xlink:label="jppfs_cor_EffectOfExchangeRateChangeOnCashAndCashEquivalents" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ImpairmentLossOpeCF" xlink:label="jppfs_cor_ImpairmentLossOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncomeBeforeIncomeTaxes" xlink:label="jppfs_cor_IncomeBeforeIncomeTaxes" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncomeTaxesPaidRefundOpeCF" xlink:label="jppfs_cor_IncomeTaxesPaidRefundOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncreaseDecreaseInAllowanceForDoubtfulAccountsOpeCF" xlink:label="jppfs_cor_IncreaseDecreaseInAllowanceForDoubtfulAccountsOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncreaseDecreaseInDepositsReceivedOpeCF" xlink:label="jppfs_cor_IncreaseDecreaseInDepositsReceivedOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncreaseDecreaseInGuaranteeDepositsReceivedOpeCFSEC" xlink:label="jppfs_cor_IncreaseDecreaseInGuaranteeDepositsReceivedOpeCFSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncreaseDecreaseInNetDefinedBenefitAssetOpeCF" xlink:label="jppfs_cor_IncreaseDecreaseInNetDefinedBenefitAssetOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncreaseDecreaseInNetDefinedBenefitLiabilityOpeCF" xlink:label="jppfs_cor_IncreaseDecreaseInNetDefinedBenefitLiabilityOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncreaseDecreaseInProvisionForBonusesOpeCF" xlink:label="jppfs_cor_IncreaseDecreaseInProvisionForBonusesOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncreaseDecreaseInProvisionForDirectorsRetirementBenefitsOpeCF" xlink:label="jppfs_cor_IncreaseDecreaseInProvisionForDirectorsRetirementBenefitsOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncreaseDecreaseInReserveForFinancialProductsTransactionLiabilitiesOpeCFSEC" xlink:label="jppfs_cor_IncreaseDecreaseInReserveForFinancialProductsTransactionLiabilitiesOpeCFSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_InterestAndDividendsIncomeOpeCF" xlink:label="jppfs_cor_InterestAndDividendsIncomeOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_InterestAndDividendsIncomeReceivedOpeCFInvCF" xlink:label="jppfs_cor_InterestAndDividendsIncomeReceivedOpeCFInvCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_InterestExpensesOpeCF" xlink:label="jppfs_cor_InterestExpensesOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_InterestExpensesPaidOpeCFFinCF" xlink:label="jppfs_cor_InterestExpensesPaidOpeCFFinCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossGainOnSalesAndRetirementOfIntangibleAssetsOpeCF" xlink:label="jppfs_cor_LossGainOnSalesAndRetirementOfIntangibleAssetsOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossGainOnSalesAndRetirementOfPropertyPlantAndEquipmentOpeCF" xlink:label="jppfs_cor_LossGainOnSalesAndRetirementOfPropertyPlantAndEquipmentOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossGainOnSalesOfInvestmentSecuritiesOpeCF" xlink:label="jppfs_cor_LossGainOnSalesOfInvestmentSecuritiesOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossGainOnValuationOfInvestmentSecuritiesOpeCF" xlink:label="jppfs_cor_LossGainOnValuationOfInvestmentSecuritiesOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:label="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" xlink:label="jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetCashProvidedByUsedInOperatingActivities" xlink:label="jppfs_cor_NetCashProvidedByUsedInOperatingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetIncreaseDecreaseInCashAndCashEquivalents" xlink:label="jppfs_cor_NetIncreaseDecreaseInCashAndCashEquivalents" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetIncreaseDecreaseInShortTermLoansPayableFinCF" xlink:label="jppfs_cor_NetIncreaseDecreaseInShortTermLoansPayableFinCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherNetFinCF" xlink:label="jppfs_cor_OtherNetFinCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherNetInvCF" xlink:label="jppfs_cor_OtherNetInvCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherNetOpeCF" xlink:label="jppfs_cor_OtherNetOpeCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PaymentsForTransferOfBusiness2InvCF" xlink:label="jppfs_cor_PaymentsForTransferOfBusiness2InvCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInChangeInScopeOfConsolidationFinCF" xlink:label="jppfs_cor_PaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInChangeInScopeOfConsolidationFinCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProceedsFromIssuanceOfBondsFinCF" xlink:label="jppfs_cor_ProceedsFromIssuanceOfBondsFinCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProceedsFromLongTermLoansPayableFinCF" xlink:label="jppfs_cor_ProceedsFromLongTermLoansPayableFinCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProceedsFromSalesOfInvestmentSecuritiesInvCF" xlink:label="jppfs_cor_ProceedsFromSalesOfInvestmentSecuritiesInvCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProceedsFromSalesOfPropertyPlantAndEquipmentInvCF" xlink:label="jppfs_cor_ProceedsFromSalesOfPropertyPlantAndEquipmentInvCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProceedsFromSalesOfShortTermInvestmentSecuritiesInvCF" xlink:label="jppfs_cor_ProceedsFromSalesOfShortTermInvestmentSecuritiesInvCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PurchaseOfIntangibleAssetsInvCF" xlink:label="jppfs_cor_PurchaseOfIntangibleAssetsInvCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PurchaseOfInvestmentSecuritiesInvCF" xlink:label="jppfs_cor_PurchaseOfInvestmentSecuritiesInvCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PurchaseOfPropertyPlantAndEquipmentInvCF" xlink:label="jppfs_cor_PurchaseOfPropertyPlantAndEquipmentInvCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PurchaseOfShortTermInvestmentSecuritiesInvCF" xlink:label="jppfs_cor_PurchaseOfShortTermInvestmentSecuritiesInvCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PurchaseOfTreasuryStockFinCF" xlink:label="jppfs_cor_PurchaseOfTreasuryStockFinCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_RepaymentOfLongTermLoansPayableFinCF" xlink:label="jppfs_cor_RepaymentOfLongTermLoansPayableFinCF" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_SubtotalOpeCF" xlink:label="jppfs_cor_SubtotalOpeCF" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E03756-000_2024-03-31_01_2024-06-28.xsd#jpcrp030000-asr_E03756-000_IncomeFromCapitalIncreaseOfConsolidatedSubsidiariesFinCF" xlink:label="jpcrp030000-asr_E03756-000_IncomeFromCapitalIncreaseOfConsolidatedSubsidiariesFinCF" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E03756-000_2024-03-31_01_2024-06-28.xsd#jpcrp030000-asr_E03756-000_ProceedForAcquisitionOfBusinessesInvCF" xlink:label="jpcrp030000-asr_E03756-000_ProceedForAcquisitionOfBusinessesInvCF" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E03756-000_2024-03-31_01_2024-06-28.xsd#jpcrp030000-asr_E03756-000_ProceedsFromSalesOfSharesOfParentHeldBySubsidiariesFinCF" xlink:label="jpcrp030000-asr_E03756-000_ProceedsFromSalesOfSharesOfParentHeldBySubsidiariesFinCF" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetIncreaseDecreaseInCashAndCashEquivalents" xlink:to="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:to="jppfs_cor_ProceedsFromLongTermLoansPayableFinCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:to="jppfs_cor_RepaymentOfLongTermLoansPayableFinCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:to="jppfs_cor_ProceedsFromIssuanceOfBondsFinCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:to="jpcrp030000-asr_E03756-000_IncomeFromCapitalIncreaseOfConsolidatedSubsidiariesFinCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:to="jppfs_cor_PurchaseOfTreasuryStockFinCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:to="jpcrp030000-asr_E03756-000_ProceedsFromSalesOfSharesOfParentHeldBySubsidiariesFinCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:to="jppfs_cor_CashDividendsPaidFinCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="7" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:to="jppfs_cor_DividendsPaidToNonControllingInterestsFinCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="8" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:to="jppfs_cor_PaymentsFromChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInChangeInScopeOfConsolidationFinCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="9" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:to="jppfs_cor_OtherNetFinCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="10" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInFinancingActivities" xlink:to="jppfs_cor_NetIncreaseDecreaseInShortTermLoansPayableFinCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="11" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" xlink:to="jppfs_cor_PurchaseOfPropertyPlantAndEquipmentInvCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" xlink:to="jppfs_cor_ProceedsFromSalesOfPropertyPlantAndEquipmentInvCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" xlink:to="jppfs_cor_PurchaseOfIntangibleAssetsInvCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" xlink:to="jppfs_cor_PurchaseOfInvestmentSecuritiesInvCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" xlink:to="jppfs_cor_ProceedsFromSalesOfInvestmentSecuritiesInvCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" xlink:to="jpcrp030000-asr_E03756-000_ProceedForAcquisitionOfBusinessesInvCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" xlink:to="jppfs_cor_PaymentsForTransferOfBusiness2InvCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="7" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" xlink:to="jppfs_cor_OtherNetInvCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="8" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" xlink:to="jppfs_cor_PurchaseOfShortTermInvestmentSecuritiesInvCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="9" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" xlink:to="jppfs_cor_ProceedsFromSalesOfShortTermInvestmentSecuritiesInvCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="10" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetIncreaseDecreaseInCashAndCashEquivalents" xlink:to="jppfs_cor_NetCashProvidedByUsedInOperatingActivities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInOperatingActivities" xlink:to="jppfs_cor_SubtotalOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInOperatingActivities" xlink:to="jppfs_cor_InterestAndDividendsIncomeReceivedOpeCFInvCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInOperatingActivities" xlink:to="jppfs_cor_InterestExpensesPaidOpeCFFinCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetCashProvidedByUsedInOperatingActivities" xlink:to="jppfs_cor_IncomeTaxesPaidRefundOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetIncreaseDecreaseInCashAndCashEquivalents" xlink:to="jppfs_cor_NetCashProvidedByUsedInInvestmentActivities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetIncreaseDecreaseInCashAndCashEquivalents" xlink:to="jppfs_cor_EffectOfExchangeRateChangeOnCashAndCashEquivalents" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_IncomeBeforeIncomeTaxes" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_DepreciationAndAmortizationOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_ImpairmentLossOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_IncreaseDecreaseInAllowanceForDoubtfulAccountsOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_IncreaseDecreaseInProvisionForBonusesOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_IncreaseDecreaseInProvisionForDirectorsRetirementBenefitsOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_IncreaseDecreaseInNetDefinedBenefitLiabilityOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="7" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_IncreaseDecreaseInNetDefinedBenefitAssetOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="8" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_IncreaseDecreaseInReserveForFinancialProductsTransactionLiabilitiesOpeCFSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="9" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_InterestAndDividendsIncomeOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="10" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_InterestExpensesOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="11" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_LossGainOnSalesAndRetirementOfPropertyPlantAndEquipmentOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="12" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_LossGainOnSalesAndRetirementOfIntangibleAssetsOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="13" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_LossGainOnSalesOfInvestmentSecuritiesOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="14" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_LossGainOnValuationOfInvestmentSecuritiesOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="15" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_DecreaseIncreaseInCashSegregatedAsDepositsForCustomersOpeCFSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="16" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_DecreaseIncreaseInTradingProductsAssetsLiabilitiesOpeCFSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="17" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_DecreaseIncreaseInAssetsLiabilitiesForMarginTransactionOpeCFSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="18" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_DecreaseIncreaseInLoansBorrowingsSecuredBySecuritiesOpeCFSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="19" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_DecreaseIncreaseInAdvancePaidOpeCFSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="20" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_IncreaseDecreaseInDepositsReceivedOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="21" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_DecreaseIncreaseInShortTermGuaranteeDepositsOpeCFSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="22" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_IncreaseDecreaseInGuaranteeDepositsReceivedOpeCFSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="23" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_DecreaseIncreaseInShortTermLoansReceivableOpeCFSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="24" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SubtotalOpeCF" xlink:to="jppfs_cor_OtherNetOpeCF" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="25" weight="1" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_BalanceSheet">
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_AccountsReceivableOther" xlink:label="jppfs_cor_AccountsReceivableOther" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_AccruedExpenses" xlink:label="jppfs_cor_AccruedExpenses" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_AccruedIncome" xlink:label="jppfs_cor_AccruedIncome" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_AllowanceForDoubtfulAccountsIOAByGroup" xlink:label="jppfs_cor_AllowanceForDoubtfulAccountsIOAByGroup" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_AssetRetirementObligationsNCL" xlink:label="jppfs_cor_AssetRetirementObligationsNCL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_Assets" xlink:label="jppfs_cor_Assets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_BuildingsNet" xlink:label="jppfs_cor_BuildingsNet" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CapitalStock" xlink:label="jppfs_cor_CapitalStock" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CapitalSurplus" xlink:label="jppfs_cor_CapitalSurplus" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CashAndDeposits" xlink:label="jppfs_cor_CashAndDeposits" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CurrentAssets" xlink:label="jppfs_cor_CurrentAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CurrentLiabilities" xlink:label="jppfs_cor_CurrentLiabilities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CurrentPortionOfBonds" xlink:label="jppfs_cor_CurrentPortionOfBonds" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DeferredTaxLiabilities" xlink:label="jppfs_cor_DeferredTaxLiabilities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_EquipmentPPESEC" xlink:label="jppfs_cor_EquipmentPPESEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_GeneralReserve" xlink:label="jppfs_cor_GeneralReserve" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_GuaranteeDepositsIOA" xlink:label="jppfs_cor_GuaranteeDepositsIOA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_GuaranteeDepositsReceivedNCL" xlink:label="jppfs_cor_GuaranteeDepositsReceivedNCL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncomeTaxesPayable" xlink:label="jppfs_cor_IncomeTaxesPayable" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IntangibleAssets" xlink:label="jppfs_cor_IntangibleAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_InvestmentsAndOtherAssets" xlink:label="jppfs_cor_InvestmentsAndOtherAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_InvestmentSecurities" xlink:label="jppfs_cor_InvestmentSecurities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_InvestmentsInOtherSecuritiesOfSubsidiariesAndAffiliates" xlink:label="jppfs_cor_InvestmentsInOtherSecuritiesOfSubsidiariesAndAffiliates" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_Land" xlink:label="jppfs_cor_Land" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LegalCapitalSurplus" xlink:label="jppfs_cor_LegalCapitalSurplus" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LegalRetainedEarnings" xlink:label="jppfs_cor_LegalRetainedEarnings" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_Liabilities" xlink:label="jppfs_cor_Liabilities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LiabilitiesAndNetAssets" xlink:label="jppfs_cor_LiabilitiesAndNetAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LongTermLoansPayable" xlink:label="jppfs_cor_LongTermLoansPayable" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetAssets" xlink:label="jppfs_cor_NetAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NoncurrentAssets" xlink:label="jppfs_cor_NoncurrentAssets" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NoncurrentLiabilities" xlink:label="jppfs_cor_NoncurrentLiabilities" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherCA" xlink:label="jppfs_cor_OtherCA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherCapitalSurplus" xlink:label="jppfs_cor_OtherCapitalSurplus" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherCL" xlink:label="jppfs_cor_OtherCL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherIOA" xlink:label="jppfs_cor_OtherIOA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherNCL" xlink:label="jppfs_cor_OtherNCL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PropertyPlantAndEquipment" xlink:label="jppfs_cor_PropertyPlantAndEquipment" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProvisionForBonuses" xlink:label="jppfs_cor_ProvisionForBonuses" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_RetainedEarnings" xlink:label="jppfs_cor_RetainedEarnings" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_RetainedEarningsBroughtForward" xlink:label="jppfs_cor_RetainedEarningsBroughtForward" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ShareholdersEquity" xlink:label="jppfs_cor_ShareholdersEquity" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ShortTermLoansPayable" xlink:label="jppfs_cor_ShortTermLoansPayable" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ShortTermLoansReceivable" xlink:label="jppfs_cor_ShortTermLoansReceivable" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_StocksOfSubsidiariesAndAffiliates" xlink:label="jppfs_cor_StocksOfSubsidiariesAndAffiliates" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_SubscriptionRightsToShares" xlink:label="jppfs_cor_SubscriptionRightsToShares" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TreasuryStock" xlink:label="jppfs_cor_TreasuryStock" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ValuationAndTranslationAdjustments" xlink:label="jppfs_cor_ValuationAndTranslationAdjustments" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ValuationDifferenceOnAvailableForSaleSecurities" xlink:label="jppfs_cor_ValuationDifferenceOnAvailableForSaleSecurities" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_Assets" xlink:to="jppfs_cor_CurrentAssets" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_Assets" xlink:to="jppfs_cor_NoncurrentAssets" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CapitalSurplus" xlink:to="jppfs_cor_LegalCapitalSurplus" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CapitalSurplus" xlink:to="jppfs_cor_OtherCapitalSurplus" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_CashAndDeposits" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_ShortTermLoansReceivable" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_AccountsReceivableOther" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_AccruedIncome" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentAssets" xlink:to="jppfs_cor_OtherCA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_ShortTermLoansPayable" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_AccruedExpenses" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_IncomeTaxesPayable" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_ProvisionForBonuses" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_CurrentPortionOfBonds" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_CurrentLiabilities" xlink:to="jppfs_cor_OtherCL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_InvestmentSecurities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_StocksOfSubsidiariesAndAffiliates" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_InvestmentsInOtherSecuritiesOfSubsidiariesAndAffiliates" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_GuaranteeDepositsIOA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_OtherIOA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_InvestmentsAndOtherAssets" xlink:to="jppfs_cor_AllowanceForDoubtfulAccountsIOAByGroup" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_LiabilitiesAndNetAssets" xlink:to="jppfs_cor_Liabilities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_Liabilities" xlink:to="jppfs_cor_CurrentLiabilities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_Liabilities" xlink:to="jppfs_cor_NoncurrentLiabilities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_LiabilitiesAndNetAssets" xlink:to="jppfs_cor_NetAssets" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetAssets" xlink:to="jppfs_cor_ShareholdersEquity" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetAssets" xlink:to="jppfs_cor_ValuationAndTranslationAdjustments" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NetAssets" xlink:to="jppfs_cor_SubscriptionRightsToShares" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentAssets" xlink:to="jppfs_cor_PropertyPlantAndEquipment" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentAssets" xlink:to="jppfs_cor_IntangibleAssets" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentAssets" xlink:to="jppfs_cor_InvestmentsAndOtherAssets" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentLiabilities" xlink:to="jppfs_cor_LongTermLoansPayable" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentLiabilities" xlink:to="jppfs_cor_GuaranteeDepositsReceivedNCL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentLiabilities" xlink:to="jppfs_cor_DeferredTaxLiabilities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentLiabilities" xlink:to="jppfs_cor_AssetRetirementObligationsNCL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NoncurrentLiabilities" xlink:to="jppfs_cor_OtherNCL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_PropertyPlantAndEquipment" xlink:to="jppfs_cor_BuildingsNet" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_PropertyPlantAndEquipment" xlink:to="jppfs_cor_EquipmentPPESEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_PropertyPlantAndEquipment" xlink:to="jppfs_cor_Land" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_RetainedEarnings" xlink:to="jppfs_cor_LegalRetainedEarnings" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_RetainedEarnings" xlink:to="jppfs_cor_GeneralReserve" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_RetainedEarnings" xlink:to="jppfs_cor_RetainedEarningsBroughtForward" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ShareholdersEquity" xlink:to="jppfs_cor_CapitalStock" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ShareholdersEquity" xlink:to="jppfs_cor_CapitalSurplus" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ShareholdersEquity" xlink:to="jppfs_cor_RetainedEarnings" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ShareholdersEquity" xlink:to="jppfs_cor_TreasuryStock" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ValuationAndTranslationAdjustments" xlink:to="jppfs_cor_ValuationDifferenceOnAvailableForSaleSecurities" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_StatementOfIncome">
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_CompensationExpensesNOE" xlink:label="jppfs_cor_CompensationExpensesNOE" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DepreciationSGA" xlink:label="jppfs_cor_DepreciationSGA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DividendsIncomeNOI" xlink:label="jppfs_cor_DividendsIncomeNOI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ExtraordinaryIncome" xlink:label="jppfs_cor_ExtraordinaryIncome" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ExtraordinaryLoss" xlink:label="jppfs_cor_ExtraordinaryLoss" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_FinancialExpensesSEC" xlink:label="jppfs_cor_FinancialExpensesSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_FinancialRevenueORSEC" xlink:label="jppfs_cor_FinancialRevenueORSEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_GainOnInvestmentsInPartnershipNOI" xlink:label="jppfs_cor_GainOnInvestmentsInPartnershipNOI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_GainOnSalesOfInvestmentSecuritiesEI" xlink:label="jppfs_cor_GainOnSalesOfInvestmentSecuritiesEI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncomeBeforeIncomeTaxes" xlink:label="jppfs_cor_IncomeBeforeIncomeTaxes" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncomeTaxes" xlink:label="jppfs_cor_IncomeTaxes" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncomeTaxesCurrent" xlink:label="jppfs_cor_IncomeTaxesCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_IncomeTaxesDeferred" xlink:label="jppfs_cor_IncomeTaxesDeferred" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossOnInvestmentsInPartnershipNOE" xlink:label="jppfs_cor_LossOnInvestmentsInPartnershipNOE" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossOnSupportToSubsidiariesAndSubsidiariesAndAffiliatesEL" xlink:label="jppfs_cor_LossOnSupportToSubsidiariesAndSubsidiariesAndAffiliatesEL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossOnValuationOfGolfClubMembershipEL" xlink:label="jppfs_cor_LossOnValuationOfGolfClubMembershipEL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossOnValuationOfInvestmentSecuritiesEL" xlink:label="jppfs_cor_LossOnValuationOfInvestmentSecuritiesEL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_LossOnValuationOfStocksOfSubsidiariesAndAffiliatesEL" xlink:label="jppfs_cor_LossOnValuationOfStocksOfSubsidiariesAndAffiliatesEL" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NonOperatingExpenses" xlink:label="jppfs_cor_NonOperatingExpenses" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NonOperatingIncome" xlink:label="jppfs_cor_NonOperatingIncome" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OfficeCostSGA" xlink:label="jppfs_cor_OfficeCostSGA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OperatingIncome" xlink:label="jppfs_cor_OperatingIncome" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OrdinaryIncome" xlink:label="jppfs_cor_OrdinaryIncome" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherEI" xlink:label="jppfs_cor_OtherEI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherNOE" xlink:label="jppfs_cor_OtherNOE" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherNOI" xlink:label="jppfs_cor_OtherNOI" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_OtherSGA" xlink:label="jppfs_cor_OtherSGA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PersonalExpensesSGA" xlink:label="jppfs_cor_PersonalExpensesSGA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProfitLoss" xlink:label="jppfs_cor_ProfitLoss" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_RealEstateExpensesSGASEC" xlink:label="jppfs_cor_RealEstateExpensesSGASEC" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:label="jppfs_cor_SellingGeneralAndAdministrativeExpenses" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TaxesAndDuesSGA" xlink:label="jppfs_cor_TaxesAndDuesSGA" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TradingRelatedExpensesSGASEC" xlink:label="jppfs_cor_TradingRelatedExpensesSGASEC" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E03756-000_2024-03-31_01_2024-06-28.xsd#jpcrp030000-asr_E03756-000_GainOnExchangeFromDividendsInKindEI" xlink:label="jpcrp030000-asr_E03756-000_GainOnExchangeFromDividendsInKindEI" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E03756-000_2024-03-31_01_2024-06-28.xsd#jpcrp030000-asr_E03756-000_LossOnExchangeFromPropertyDividendEL" xlink:label="jpcrp030000-asr_E03756-000_LossOnExchangeFromPropertyDividendEL" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_IncomeBeforeIncomeTaxes" xlink:to="jppfs_cor_ExtraordinaryIncome" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryIncome" xlink:to="jpcrp030000-asr_E03756-000_GainOnExchangeFromDividendsInKindEI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryIncome" xlink:to="jppfs_cor_GainOnSalesOfInvestmentSecuritiesEI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryIncome" xlink:to="jppfs_cor_OtherEI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_IncomeBeforeIncomeTaxes" xlink:to="jppfs_cor_ExtraordinaryLoss" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="-1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryLoss" xlink:to="jpcrp030000-asr_E03756-000_LossOnExchangeFromPropertyDividendEL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryLoss" xlink:to="jppfs_cor_LossOnValuationOfInvestmentSecuritiesEL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryLoss" xlink:to="jppfs_cor_LossOnValuationOfGolfClubMembershipEL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryLoss" xlink:to="jppfs_cor_LossOnValuationOfStocksOfSubsidiariesAndAffiliatesEL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ExtraordinaryLoss" xlink:to="jppfs_cor_LossOnSupportToSubsidiariesAndSubsidiariesAndAffiliatesEL" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_IncomeBeforeIncomeTaxes" xlink:to="jppfs_cor_OrdinaryIncome" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_IncomeTaxes" xlink:to="jppfs_cor_IncomeTaxesCurrent" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_IncomeTaxes" xlink:to="jppfs_cor_IncomeTaxesDeferred" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingExpenses" xlink:to="jppfs_cor_LossOnInvestmentsInPartnershipNOE" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingExpenses" xlink:to="jppfs_cor_CompensationExpensesNOE" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingExpenses" xlink:to="jppfs_cor_OtherNOE" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OrdinaryIncome" xlink:to="jppfs_cor_NonOperatingIncome" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingIncome" xlink:to="jppfs_cor_DividendsIncomeNOI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingIncome" xlink:to="jppfs_cor_GainOnInvestmentsInPartnershipNOI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_NonOperatingIncome" xlink:to="jppfs_cor_OtherNOI" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OrdinaryIncome" xlink:to="jppfs_cor_OperatingIncome" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OperatingIncome" xlink:to="jppfs_cor_FinancialRevenueORSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OperatingIncome" xlink:to="jppfs_cor_FinancialExpensesSEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="-1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OperatingIncome" xlink:to="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="-1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_OrdinaryIncome" xlink:to="jppfs_cor_NonOperatingExpenses" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="-1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ProfitLoss" xlink:to="jppfs_cor_IncomeBeforeIncomeTaxes" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_ProfitLoss" xlink:to="jppfs_cor_IncomeTaxes" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="-1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_TradingRelatedExpensesSGASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_PersonalExpensesSGA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_RealEstateExpensesSGASEC" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_OfficeCostSGA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_DepreciationSGA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_TaxesAndDuesSGA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_SellingGeneralAndAdministrativeExpenses" xlink:to="jppfs_cor_OtherSGA" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="7" weight="1" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://disclosure.edinet-fsa.go.jp/role/jppfs/rol_StatementOfChangesInEquity">
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DisposalOfTreasuryStock" xlink:label="jppfs_cor_DisposalOfTreasuryStock" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_DividendsFromSurplus" xlink:label="jppfs_cor_DividendsFromSurplus" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_NetChangesOfItemsOtherThanShareholdersEquity" xlink:label="jppfs_cor_NetChangesOfItemsOtherThanShareholdersEquity" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_ProfitLoss" xlink:label="jppfs_cor_ProfitLoss" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_PurchaseOfTreasuryStock" xlink:label="jppfs_cor_PurchaseOfTreasuryStock" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2023-12-01/jppfs_cor_2023-12-01.xsd#jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:label="jppfs_cor_TotalChangesOfItemsDuringThePeriod" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E03756-000_2024-03-31_01_2024-06-28.xsd#jpcrp030000-asr_E03756-000_ChangesByShareExchanges" xlink:label="jpcrp030000-asr_E03756-000_ChangesByShareExchanges" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jppfs_cor_DividendsFromSurplus" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="1" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jppfs_cor_ProfitLoss" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="2" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jppfs_cor_PurchaseOfTreasuryStock" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="3" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jppfs_cor_DisposalOfTreasuryStock" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="4" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jpcrp030000-asr_E03756-000_ChangesByShareExchanges" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="5" weight="1" />
    <link:calculationArc xlink:type="arc" xlink:from="jppfs_cor_TotalChangesOfItemsDuringThePeriod" xlink:to="jppfs_cor_NetChangesOfItemsOtherThanShareholdersEquity" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" order="6" weight="1" />
  </link:calculationLink>
</link:linkbase>