Financials

Mitsui Matsushima Holdings: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥65bnYoY +8.1%

FYE Mar 2026 · Operating profit¥9.6bnYoY +25.7%

FYE Mar 2026 · Net profit¥6.7bnYoY −22.3%

FYE Mar 2026 · Equity ratio43.5%YoY −12.0pp

FYE Mar 2026 · Group employees1,746YoY +5

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥53bn	n/a	¥1.0bn	n/a	1.9%	¥1.3bn	Amano Tsuneo	—
FYE Mar 2018Consolidated	¥66bn	+24.9%	¥1.5bn	+49.1%	2.3%	¥1.5bn	Amano Tsuneo	Clean Surface Technology acquired — mask blanks for panels and components
FYE Mar 2019Consolidated	¥76bn	+14.1%	¥5.2bn	+239.7%	6.9%	¥2.2bn	Amano Tsuneo	Renamed Mitsui Matsushima Holdings; coal sales split into a new subsidiary
FYE Mar 2020Consolidated	¥67bn	−12.0%	¥2.7bn	−47.3%	4.1%	¥2.3bn	Amano Tsuneo	Meiko Shokai, the shredder maker, acquired
FYE Mar 2021Consolidated	¥57bn	−13.8%	¥1.9bn	−29.0%	3.4%	-¥3.0bn	Amano Tsuneo	K.M.T. and Sansei Electronics acquired on the same month
FYE Mar 2022Consolidated	¥47bn	−18.8%	¥8.4bn	+332.5%	18.1%	¥5.4bn	Yoshioka Yasushi	Systec Kyowa and THAI SYSTECH KYOWA CO., LTD. made subsidiaries
FYE Mar 2023Consolidated	¥80bn	+71.7%	¥36bn	+325.2%	44.7%	¥23bn	Yoshioka Yasushi	Moved to the Prime Market; Nippon Katan acquired in May
FYE Mar 2024Consolidated	¥77bn	−3.2%	¥25bn	−29.7%	32.5%	¥15bn	Yoshioka Yasushi	Record profit on the coal-price surge; four acquisitions in the year
FYE Mar 2025Consolidated	¥61bn	−21.8%	¥7.6bn	−69.7%	12.6%	¥8.6bn	Yoshioka Yasushi	Saunders & Associates acquired through Sansei America
FYE Mar 2026Consolidated	¥65bn	+8.1%	¥9.6bn	+25.7%	14.6%	¥6.7bn	Yoshioka Yasushi	Reporting moves to three segments: consumer, industrial, finance and other

How it compares

Nittetsukougyou¥210bnFY2025Operating margin 9.0%

Mitsui Matsushima Holdings¥65bnFY2025Operating margin 14.6%

Sumiseki Holdings, Inc.¥11bnFY2025Operating margin 3.1%

Meiji Mining Co., Ltd.Delisted 1969

Haboro Tanko TetsudoDelisted 1970

Hokkaido Colliery & SteamshipDelisted 1995

Income statement Revenue, costs, each level of profit and the margins they leave

Where the revenue goes

¥ bn

Cost of sales SG&A Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥65bn

CAGR · 10 yrs +2.4%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	53.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	66.3	+24.9%	Cons. · Japanese GAAP
FYE Mar 2019	75.7	+14.1%	Cons. · Japanese GAAP
FYE Mar 2020	66.6	−12.0%	Cons. · Japanese GAAP
FYE Mar 2021	57.4	−13.8%	Cons. · Japanese GAAP
FYE Mar 2022	46.6	−18.8%	Cons. · Japanese GAAP
FYE Mar 2023	80.0	+71.7%	Cons. · Japanese GAAP
FYE Mar 2024	77.5	−3.2%	Cons. · Japanese GAAP
FYE Mar 2025	60.6	−21.8%	Cons. · Japanese GAAP
FYE Mar 2026	65.5	+8.1%	Cons. · Japanese GAAP

Definition: Everything the company took in from its own business
Formula: Revenue line of the income statement
Source: Securities report (XBRL)

Cost of sales

FYE Mar 2026 ¥40bn

CAGR · 10 yrs −1.6%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	46.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	59.0	+26.8%	Cons. · Japanese GAAP
FYE Mar 2019	64.8	+9.8%	Cons. · Japanese GAAP
FYE Mar 2020	55.2	−14.8%	Cons. · Japanese GAAP
FYE Mar 2021	47.4	−14.1%	Cons. · Japanese GAAP
FYE Mar 2022	30.2	−36.3%	Cons. · Japanese GAAP
FYE Mar 2023	34.7	+15.0%	Cons. · Japanese GAAP
FYE Mar 2024	41.2	+18.6%	Cons. · Japanese GAAP
FYE Mar 2025	38.2	−7.1%	Cons. · Japanese GAAP
FYE Mar 2026	40.4	+5.6%	Cons. · Japanese GAAP

Definition: The cost of what was sold
Formula: Cost of sales line of the income statement
Source: Securities report (XBRL)

Gross profit

FYE Mar 2026 ¥25bn

CAGR · 10 yrs +16.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	6.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.3	+11.4%	Cons. · Japanese GAAP
FYE Mar 2019	10.9	+48.8%	Cons. · Japanese GAAP
FYE Mar 2020	11.4	+4.6%	Cons. · Japanese GAAP
FYE Mar 2021	10.0	−12.4%	Cons. · Japanese GAAP
FYE Mar 2022	16.4	+64.4%	Cons. · Japanese GAAP
FYE Mar 2023	45.3	+176.1%	Cons. · Japanese GAAP
FYE Mar 2024	36.3	−19.9%	Cons. · Japanese GAAP
FYE Mar 2025	22.3	−38.5%	Cons. · Japanese GAAP
FYE Mar 2026	25.1	+12.4%	Cons. · Japanese GAAP

Definition: What the product or service itself earns
Formula: Revenue − cost of sales
Source: Securities report (XBRL)

SG&A selling, general and administrative expenses

FYE Mar 2026 ¥16bn

CAGR · 10 yrs +12.1%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.8	+4.4%	Cons. · Japanese GAAP
FYE Mar 2019	5.7	−1.7%	Cons. · Japanese GAAP
FYE Mar 2020	8.6	+52.2%	Cons. · Japanese GAAP
FYE Mar 2021	8.0	−7.1%	Cons. · Japanese GAAP
FYE Mar 2022	8.0	−0.5%	Cons. · Japanese GAAP
FYE Mar 2023	9.5	+19.1%	Cons. · Japanese GAAP
FYE Mar 2024	11.1	+16.9%	Cons. · Japanese GAAP
FYE Mar 2025	14.7	+32.2%	Cons. · Japanese GAAP
FYE Mar 2026	15.5	+5.5%	Cons. · Japanese GAAP

Definition: The cost of selling and of running the company
Formula: SG&A line of the income statement
Source: Securities report (XBRL)

Operating profit

FYE Mar 2026 ¥9.6bn

CAGR · 10 yrs +28.2%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.5	+49.1%	Cons. · Japanese GAAP
FYE Mar 2019	5.2	+239.7%	Cons. · Japanese GAAP
FYE Mar 2020	2.7	−47.3%	Cons. · Japanese GAAP
FYE Mar 2021	1.9	−29.0%	Cons. · Japanese GAAP
FYE Mar 2022	8.4	+332.5%	Cons. · Japanese GAAP
FYE Mar 2023	35.8	+325.2%	Cons. · Japanese GAAP
FYE Mar 2024	25.2	−29.7%	Cons. · Japanese GAAP
FYE Mar 2025	7.6	−69.7%	Cons. · Japanese GAAP
FYE Mar 2026	9.6	+25.7%	Cons. · Japanese GAAP

Definition: What the core business earns
Formula: Gross profit − SG&A
Source: Securities report (XBRL)

Non-operating income

FYE Mar 2026 ¥0.8bn

CAGR · 10 yrs +8.3%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	+120.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.9	+11.6%	Cons. · Japanese GAAP
FYE Mar 2020	0.7	−21.5%	Cons. · Japanese GAAP
FYE Mar 2021	1.4	+88.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.4	−67.4%	Cons. · Japanese GAAP
FYE Mar 2023	0.7	+64.4%	Cons. · Japanese GAAP
FYE Mar 2024	1.1	+46.2%	Cons. · Japanese GAAP
FYE Mar 2025	1.1	+0.8%	Cons. · Japanese GAAP
FYE Mar 2026	0.8	−28.7%	Cons. · Japanese GAAP

Definition: Income from outside the core business
Formula: Non-operating income line of the income statement
Source: Securities report (XBRL)

Non-operating expenses

FYE Mar 2026 ¥405m

CAGR · 10 yrs −1.1%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Mar 2017	447	n/a	Cons. · Japanese GAAP
FYE Mar 2018	265	−40.7%	Cons. · Japanese GAAP
FYE Mar 2019	222	−16.2%	Cons. · Japanese GAAP
FYE Mar 2020	477	+114.9%	Cons. · Japanese GAAP
FYE Mar 2021	306	−35.8%	Cons. · Japanese GAAP
FYE Mar 2022	270	−11.8%	Cons. · Japanese GAAP
FYE Mar 2023	594	+120.0%	Cons. · Japanese GAAP
FYE Mar 2024	245	−58.8%	Cons. · Japanese GAAP
FYE Mar 2025	256	+4.5%	Cons. · Japanese GAAP
FYE Mar 2026	405	+58.2%	Cons. · Japanese GAAP

Definition: Costs arising outside the core business
Formula: Non-operating expenses line of the income statement
Source: Securities report (XBRL)

Ordinary profit keijo rieki

FYE Mar 2026 ¥9.9bn

CAGR · 10 yrs +29.7%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.1	+119.0%	Cons. · Japanese GAAP
FYE Mar 2019	5.9	+181.4%	Cons. · Japanese GAAP
FYE Mar 2020	3.0	−49.3%	Cons. · Japanese GAAP
FYE Mar 2021	3.0	+0.8%	Cons. · Japanese GAAP
FYE Mar 2022	8.6	+184.6%	Cons. · Japanese GAAP
FYE Mar 2023	35.9	+318.1%	Cons. · Japanese GAAP
FYE Mar 2024	26.0	−27.6%	Cons. · Japanese GAAP
FYE Mar 2025	8.4	−67.5%	Cons. · Japanese GAAP
FYE Mar 2026	9.9	+17.7%	Cons. · Japanese GAAP

Definition: A level of profit that exists only under Japanese GAAP
Formula: Operating profit + non-operating income − non-operating expenses
Source: Securities report (XBRL)

Extraordinary income

FYE Mar 2026 ¥2.2bn

CAGR · 10 yrs +11.1%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.6	−31.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.4	−24.7%	Cons. · Japanese GAAP
FYE Mar 2020	0.7	+62.7%	Cons. · Japanese GAAP
FYE Mar 2021	0.3	−52.9%	Cons. · Japanese GAAP
FYE Mar 2022	1.0	+208.4%	Cons. · Japanese GAAP
FYE Mar 2023	0.1	−90.5%	Cons. · Japanese GAAP
FYE Mar 2024	0.6	+550.0%	Cons. · Japanese GAAP
FYE Mar 2025	4.2	+557.0%	Cons. · Japanese GAAP
FYE Mar 2026	2.2	−48.0%	Cons. · Japanese GAAP

Definition: One-off gains, such as an asset sale
Formula: Extraordinary income line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥6.7bn

CAGR · 10 yrs +19.8%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.5	+14.9%	Cons. · Japanese GAAP
FYE Mar 2019	2.2	+47.4%	Cons. · Japanese GAAP
FYE Mar 2020	2.3	+2.3%	Cons. · Japanese GAAP
FYE Mar 2021	-3.0	−232.4%	Cons. · Japanese GAAP
FYE Mar 2022	5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	23.0	+325.8%	Cons. · Japanese GAAP
FYE Mar 2024	15.1	−34.2%	Cons. · Japanese GAAP
FYE Mar 2025	8.6	−42.8%	Cons. · Japanese GAAP
FYE Mar 2026	6.7	−22.3%	Cons. · Japanese GAAP

Definition: What is left after tax
Formula: Pre-tax profit − income taxes
Source: Securities report (XBRL)

Gross margin

FYE Mar 2026 38.3%

Average · 10 yrs 28.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	12.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.0	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	14.4	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2020	17.1	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2021	17.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	35.2	+17.8pp	Cons. · Japanese GAAP
FYE Mar 2023	56.6	+21.4pp	Cons. · Japanese GAAP
FYE Mar 2024	46.9	−9.8pp	Cons. · Japanese GAAP
FYE Mar 2025	36.9	−10.0pp	Cons. · Japanese GAAP
FYE Mar 2026	38.3	+1.5pp	Cons. · Japanese GAAP

Definition: The share of revenue left after the cost of sales
Formula: Gross profit ÷ revenue
Source: Securities report (XBRL)

Operating margin

FYE Mar 2026 14.6%

Average · 10 yrs 14.1%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.3	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	6.9	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2020	4.1	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2021	3.4	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	18.1	+14.7pp	Cons. · Japanese GAAP
FYE Mar 2023	44.7	+26.7pp	Cons. · Japanese GAAP
FYE Mar 2024	32.5	−12.2pp	Cons. · Japanese GAAP
FYE Mar 2025	12.6	−19.9pp	Cons. · Japanese GAAP
FYE Mar 2026	14.6	+2.1pp	Cons. · Japanese GAAP

Definition: The share of revenue the core business keeps
Formula: Operating profit ÷ revenue
Source: Securities report (XBRL)

Ordinary margin

FYE Mar 2026 15.2%

Average · 10 yrs 14.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.2	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	7.8	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2020	4.5	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2021	5.3	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	18.4	+13.2pp	Cons. · Japanese GAAP
FYE Mar 2023	44.9	+26.5pp	Cons. · Japanese GAAP
FYE Mar 2024	33.6	−11.3pp	Cons. · Japanese GAAP
FYE Mar 2025	13.9	−19.6pp	Cons. · Japanese GAAP
FYE Mar 2026	15.2	+1.2pp	Cons. · Japanese GAAP

Definition: The share of revenue left at the ordinary-profit line
Formula: Ordinary profit ÷ revenue
Source: Securities report (XBRL)

Net margin

FYE Mar 2026 10.3%

Average · 10 yrs 9.0%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	2.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	3.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	3.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	-5.3	−8.7pp	Cons. · Japanese GAAP
FYE Mar 2022	11.6	+16.9pp	Cons. · Japanese GAAP
FYE Mar 2023	28.7	+17.1pp	Cons. · Japanese GAAP
FYE Mar 2024	19.5	−9.2pp	Cons. · Japanese GAAP
FYE Mar 2025	14.3	−5.2pp	Cons. · Japanese GAAP
FYE Mar 2026	10.3	−4.0pp	Cons. · Japanese GAAP

Definition: The share of revenue left after everything
Formula: Net profit ÷ revenue
Source: Securities report (XBRL)

Cost-of-sales ratio

FYE Mar 2026 61.7%

Average · 10 yrs 71.4%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	87.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	89.0	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	85.6	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2020	82.9	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2021	82.6	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	64.8	−17.8pp	Cons. · Japanese GAAP
FYE Mar 2023	43.4	−21.4pp	Cons. · Japanese GAAP
FYE Mar 2024	53.1	+9.8pp	Cons. · Japanese GAAP
FYE Mar 2025	63.1	+10.0pp	Cons. · Japanese GAAP
FYE Mar 2026	61.7	−1.5pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by the cost of sales
Formula: Cost of sales ÷ revenue
Source: Securities report (XBRL)

SG&A ratio

FYE Mar 2026 23.7%

Average · 10 yrs 14.5%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	10.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.7	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2019	7.5	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	13.0	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2021	14.0	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	17.2	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2023	11.9	−5.3pp	Cons. · Japanese GAAP
FYE Mar 2024	14.4	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2025	24.3	+9.9pp	Cons. · Japanese GAAP
FYE Mar 2026	23.7	−0.6pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by selling and administrative costs
Formula: SG&A ÷ revenue
Source: Securities report (XBRL)

Balance sheet Assets, debt and equity, and what they say about financial strength

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥128bn

CAGR · 10 yrs +9.0%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	59.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	58.3	−1.4%	Cons. · Japanese GAAP
FYE Mar 2019	57.5	−1.4%	Cons. · Japanese GAAP
FYE Mar 2020	63.2	+9.9%	Cons. · Japanese GAAP
FYE Mar 2021	70.6	+11.8%	Cons. · Japanese GAAP
FYE Mar 2022	67.8	−3.9%	Cons. · Japanese GAAP
FYE Mar 2023	95.0	+40.1%	Cons. · Japanese GAAP
FYE Mar 2024	99.7	+5.0%	Cons. · Japanese GAAP
FYE Mar 2025	118	+17.9%	Cons. · Japanese GAAP
FYE Mar 2026	128	+8.8%	Cons. · Japanese GAAP

Definition: Everything the company holds
Formula: Total assets line of the balance sheet
Source: Securities report (XBRL)

Equity net assets, shareholders' equity

FYE Mar 2026 ¥56bn

CAGR · 10 yrs +6.4%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	31.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.6	+5.9%	Cons. · Japanese GAAP
FYE Mar 2019	33.0	−1.8%	Cons. · Japanese GAAP
FYE Mar 2020	33.0	+0.1%	Cons. · Japanese GAAP
FYE Mar 2021	30.2	−8.5%	Cons. · Japanese GAAP
FYE Mar 2022	35.4	+17.3%	Cons. · Japanese GAAP
FYE Mar 2023	55.8	+57.4%	Cons. · Japanese GAAP
FYE Mar 2024	63.4	+13.8%	Cons. · Japanese GAAP
FYE Mar 2025	65.3	+3.0%	Cons. · Japanese GAAP
FYE Mar 2026	55.7	−14.8%	Cons. · Japanese GAAP

Definition: The part of the funding that never has to be repaid
Formula: Net assets line of the balance sheet
Source: Securities report (XBRL)

Interest-bearing debt

FYE Mar 2026 ¥50bn

CAGR · 10 yrs +14.6%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	14.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.2	−10.7%	Cons. · Japanese GAAP
FYE Mar 2019	10.1	−23.6%	Cons. · Japanese GAAP
FYE Mar 2020	17.1	+69.3%	Cons. · Japanese GAAP
FYE Mar 2021	22.6	+32.1%	Cons. · Japanese GAAP
FYE Mar 2022	11.8	−47.6%	Cons. · Japanese GAAP
FYE Mar 2023	12.7	+7.0%	Cons. · Japanese GAAP
FYE Mar 2024	7.6	−40.3%	Cons. · Japanese GAAP
FYE Mar 2025	31.8	+320.5%	Cons. · Japanese GAAP
FYE Mar 2026	50.2	+58.2%	Cons. · Japanese GAAP

Definition: Borrowings the company pays interest on
Formula: Loans + bonds + lease obligations
Source: Securities report (XBRL)

Short-term borrowings

FYE Mar 2026 ¥32bn

CAGR · 10 yrs +25.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.3	+3.2%	Cons. · Japanese GAAP
FYE Mar 2019	2.3	−47.3%	Cons. · Japanese GAAP
FYE Mar 2020	5.6	+145.9%	Cons. · Japanese GAAP
FYE Mar 2021	12.4	+121.1%	Cons. · Japanese GAAP
FYE Mar 2022	4.0	−68.0%	Cons. · Japanese GAAP
FYE Mar 2023	6.8	+72.6%	Cons. · Japanese GAAP
FYE Mar 2024	3.2	−53.6%	Cons. · Japanese GAAP
FYE Mar 2025	28.7	+803.6%	Cons. · Japanese GAAP
FYE Mar 2026	31.8	+10.8%	Cons. · Japanese GAAP

Definition: Borrowings repayable within a year
Formula: Short-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Long-term borrowings

FYE Mar 2026 ¥18bn

CAGR · 10 yrs +6.3%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	10.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.9	−16.3%	Cons. · Japanese GAAP
FYE Mar 2019	7.8	−12.0%	Cons. · Japanese GAAP
FYE Mar 2020	11.5	+46.9%	Cons. · Japanese GAAP
FYE Mar 2021	10.2	−11.4%	Cons. · Japanese GAAP
FYE Mar 2022	7.9	−22.6%	Cons. · Japanese GAAP
FYE Mar 2023	5.8	−26.0%	Cons. · Japanese GAAP
FYE Mar 2024	4.4	−24.7%	Cons. · Japanese GAAP
FYE Mar 2025	3.1	−30.2%	Cons. · Japanese GAAP
FYE Mar 2026	18.4	+502.9%	Cons. · Japanese GAAP

Definition: Borrowings repayable in more than a year
Formula: Long-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥16bn

CAGR · 10 yrs +7.5%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	8.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.8	−6.2%	Cons. · Japanese GAAP
FYE Mar 2019	6.1	−22.3%	Cons. · Japanese GAAP
FYE Mar 2020	10.4	+71.7%	Cons. · Japanese GAAP
FYE Mar 2021	11.0	+5.1%	Cons. · Japanese GAAP
FYE Mar 2022	10.7	−2.2%	Cons. · Japanese GAAP
FYE Mar 2023	13.5	+25.3%	Cons. · Japanese GAAP
FYE Mar 2024	16.4	+22.1%	Cons. · Japanese GAAP
FYE Mar 2025	17.5	+6.6%	Cons. · Japanese GAAP
FYE Mar 2026	16.0	−8.6%	Cons. · Japanese GAAP

Definition: Assets with no physical form
Formula: Intangible assets line of the balance sheet
Source: Securities report (XBRL)

Goodwill

FYE Mar 2026 ¥15bn

CAGR · 10 yrs +8.8%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.5	−8.1%	Cons. · Japanese GAAP
FYE Mar 2019	5.0	−23.0%	Cons. · Japanese GAAP
FYE Mar 2020	9.6	+91.1%	Cons. · Japanese GAAP
FYE Mar 2021	10.7	+12.0%	Cons. · Japanese GAAP
FYE Mar 2022	10.4	−3.5%	Cons. · Japanese GAAP
FYE Mar 2023	12.7	+22.2%	Cons. · Japanese GAAP
FYE Mar 2024	15.9	+25.9%	Cons. · Japanese GAAP
FYE Mar 2025	17.1	+7.2%	Cons. · Japanese GAAP
FYE Mar 2026	15.2	−11.0%	Cons. · Japanese GAAP

Definition: What an acquisition cost above the net assets it brought
Formula: Goodwill line of the balance sheet
Source: Securities report (XBRL)

Equity ratio

FYE Mar 2026 43.5%

Average · 10 yrs 53.7%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	53.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	57.6	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2019	57.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	52.3	−5.1pp	Cons. · Japanese GAAP
FYE Mar 2021	42.8	−9.5pp	Cons. · Japanese GAAP
FYE Mar 2022	52.2	+9.5pp	Cons. · Japanese GAAP
FYE Mar 2023	58.7	+6.5pp	Cons. · Japanese GAAP
FYE Mar 2024	63.6	+4.9pp	Cons. · Japanese GAAP
FYE Mar 2025	55.5	−8.1pp	Cons. · Japanese GAAP
FYE Mar 2026	43.5	−12.0pp	Cons. · Japanese GAAP

Definition: How much of the balance sheet is funded without debt
Formula: Equity ÷ total assets
Source: Securities report (XBRL)

Debt-to-equity ratio D/E ratio

FYE Mar 2026 90.3%

Average · 10 yrs 45.0%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	46.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.3	−7.3pp	Cons. · Japanese GAAP
FYE Mar 2019	30.6	−8.7pp	Cons. · Japanese GAAP
FYE Mar 2020	51.7	+21.1pp	Cons. · Japanese GAAP
FYE Mar 2021	74.7	+22.9pp	Cons. · Japanese GAAP
FYE Mar 2022	33.4	−41.3pp	Cons. · Japanese GAAP
FYE Mar 2023	22.7	−10.7pp	Cons. · Japanese GAAP
FYE Mar 2024	11.9	−10.8pp	Cons. · Japanese GAAP
FYE Mar 2025	48.6	+36.7pp	Cons. · Japanese GAAP
FYE Mar 2026	90.3	+41.7pp	Cons. · Japanese GAAP

Definition: Borrowings measured against the company's own capital
Formula: Interest-bearing debt ÷ equity
Source: Securities report (XBRL)

ROE return on equity

FYE Mar 2026 12.1%

Average · 10 yrs 11.8%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.5	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	6.8	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2020	6.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	-10.0	−17.0pp	Cons. · Japanese GAAP
FYE Mar 2022	15.2	+25.3pp	Cons. · Japanese GAAP
FYE Mar 2023	41.2	+26.0pp	Cons. · Japanese GAAP
FYE Mar 2024	23.8	−17.4pp	Cons. · Japanese GAAP
FYE Mar 2025	13.2	−10.6pp	Cons. · Japanese GAAP
FYE Mar 2026	12.1	−1.2pp	Cons. · Japanese GAAP

Definition: What the shareholders' capital earns
Formula: Net profit ÷ equity
Source: Securities report (XBRL)

ROA return on assets

FYE Mar 2026 5.3%

Average · 10 yrs 6.8%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	3.9	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	3.6	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	-4.3	−7.9pp	Cons. · Japanese GAAP
FYE Mar 2022	8.0	+12.3pp	Cons. · Japanese GAAP
FYE Mar 2023	24.2	+16.2pp	Cons. · Japanese GAAP
FYE Mar 2024	15.2	−9.0pp	Cons. · Japanese GAAP
FYE Mar 2025	7.3	−7.8pp	Cons. · Japanese GAAP
FYE Mar 2026	5.3	−2.1pp	Cons. · Japanese GAAP

Definition: What the whole balance sheet earns
Formula: Net profit ÷ total assets
Source: Securities report (XBRL)

Asset turnover

FYE Mar 2026 0.51×

CAGR · 10 yrs −6.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.90	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.14	+26.7%	Cons. · Japanese GAAP
FYE Mar 2019	1.32	+15.8%	Cons. · Japanese GAAP
FYE Mar 2020	1.05	−20.0%	Cons. · Japanese GAAP
FYE Mar 2021	0.81	−22.9%	Cons. · Japanese GAAP
FYE Mar 2022	0.69	−15.5%	Cons. · Japanese GAAP
FYE Mar 2023	0.84	+22.6%	Cons. · Japanese GAAP
FYE Mar 2024	0.78	−7.8%	Cons. · Japanese GAAP
FYE Mar 2025	0.51	−33.7%	Cons. · Japanese GAAP
FYE Mar 2026	0.51	−0.6%	Cons. · Japanese GAAP

Definition: How much revenue each yen of assets produces
Formula: Revenue ÷ total assets
Source: Securities report (XBRL)

Cash flow statement Cash from operations, investment and financing, and what is left on hand

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥5.8bn

CAGR · 10 yrs +5.1%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.0	−18.5%	Cons. · Japanese GAAP
FYE Mar 2019	7.4	+146.9%	Cons. · Japanese GAAP
FYE Mar 2020	2.3	−69.1%	Cons. · Japanese GAAP
FYE Mar 2021	6.8	+197.6%	Cons. · Japanese GAAP
FYE Mar 2022	8.9	+30.9%	Cons. · Japanese GAAP
FYE Mar 2023	26.2	+194.1%	Cons. · Japanese GAAP
FYE Mar 2024	21.3	−18.8%	Cons. · Japanese GAAP
FYE Mar 2025	4.6	−78.5%	Cons. · Japanese GAAP
FYE Mar 2026	5.8	+25.8%	Cons. · Japanese GAAP

Definition: Cash the business itself generated
Formula: Cash flow from operating activities
Source: Securities report (XBRL)

Investing cash flow

FYE Mar 2026 -¥6.8bn

Average · 10 yrs -¥4.5bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-1.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-4.2	−8534.0%	Cons. · Japanese GAAP
FYE Mar 2020	-7.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-1.3	−152.0%	Cons. · Japanese GAAP
FYE Mar 2024	-11.7	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-11.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-6.8	n/a	Cons. · Japanese GAAP

Definition: Cash spent on, or released by, investment
Formula: Cash flow from investing activities
Source: Securities report (XBRL)

Financing cash flow

FYE Mar 2026 -¥2.3bn

Average · 10 yrs -¥5.0bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-2.3	−1060.2%	Cons. · Japanese GAAP
FYE Mar 2019	-4.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	4.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	4.3	−11.5%	Cons. · Japanese GAAP
FYE Mar 2022	-11.7	−375.9%	Cons. · Japanese GAAP
FYE Mar 2023	-6.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-22.7	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-10.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-2.3	n/a	Cons. · Japanese GAAP

Definition: Cash raised from, or returned to, lenders and shareholders
Formula: Cash flow from financing activities
Source: Securities report (XBRL)

Cash and equivalents

FYE Mar 2026 ¥5.7bn

CAGR · 10 yrs −8.0%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	12.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.4	+10.6%	Cons. · Japanese GAAP
FYE Mar 2019	11.8	−11.9%	Cons. · Japanese GAAP
FYE Mar 2020	10.2	−13.7%	Cons. · Japanese GAAP
FYE Mar 2021	19.3	+89.4%	Cons. · Japanese GAAP
FYE Mar 2022	19.4	+0.6%	Cons. · Japanese GAAP
FYE Mar 2023	38.1	+96.1%	Cons. · Japanese GAAP
FYE Mar 2024	26.0	−31.7%	Cons. · Japanese GAAP
FYE Mar 2025	9.0	−65.5%	Cons. · Japanese GAAP
FYE Mar 2026	5.7	−36.5%	Cons. · Japanese GAAP

Definition: Cash on hand at the year end
Formula: Closing balance in the cash flow statement
Source: Securities report (XBRL)

Free cash flow

FYE Mar 2026 -¥1.1bn

Average · 10 yrs ¥4.4bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.0	+56.4%	Cons. · Japanese GAAP
FYE Mar 2019	3.2	+4.4%	Cons. · Japanese GAAP
FYE Mar 2020	-5.4	−270.8%	Cons. · Japanese GAAP
FYE Mar 2021	4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	11.5	+170.8%	Cons. · Japanese GAAP
FYE Mar 2023	24.9	+116.6%	Cons. · Japanese GAAP
FYE Mar 2024	9.6	−61.4%	Cons. · Japanese GAAP
FYE Mar 2025	-7.3	−176.5%	Cons. · Japanese GAAP
FYE Mar 2026	-1.1	n/a	Cons. · Japanese GAAP

Definition: What is left once the business has paid for its own investment
Formula: Operating cash flow + investing cash flow
Source: Securities report (XBRL)

Operating cash flow margin

FYE Mar 2026 8.8%

Average · 10 yrs 13.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	6.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.5	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2019	9.8	+5.3pp	Cons. · Japanese GAAP
FYE Mar 2020	3.4	−6.3pp	Cons. · Japanese GAAP
FYE Mar 2021	11.9	+8.4pp	Cons. · Japanese GAAP
FYE Mar 2022	19.1	+7.3pp	Cons. · Japanese GAAP
FYE Mar 2023	32.7	+13.6pp	Cons. · Japanese GAAP
FYE Mar 2024	27.5	−5.3pp	Cons. · Japanese GAAP
FYE Mar 2025	7.6	−19.9pp	Cons. · Japanese GAAP
FYE Mar 2026	8.8	+1.2pp	Cons. · Japanese GAAP

Definition: How much of the revenue turned into cash
Formula: Operating cash flow ÷ revenue
Source: Securities report (XBRL)

Net cash

FYE Mar 2026 -¥45bn

Average · 10 yrs -¥2.7bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	1.7	+736.4%	Cons. · Japanese GAAP
FYE Mar 2020	-6.9	−499.8%	Cons. · Japanese GAAP
FYE Mar 2021	-3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2023	25.4	+234.9%	Cons. · Japanese GAAP
FYE Mar 2024	18.4	−27.5%	Cons. · Japanese GAAP
FYE Mar 2025	-22.8	−223.7%	Cons. · Japanese GAAP
FYE Mar 2026	-44.5	n/a	Cons. · Japanese GAAP

Definition: Cash on hand once the borrowings are paid off
Formula: Cash and equivalents − interest-bearing debt
Source: Securities report (XBRL)

Shares and share price Shares outstanding, price, market capitalisation and the valuation multiples

Market capitalisation

FYE Mar 2026 ¥86bn

Change · 10 yrs +¥66bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	19.8	n/a
FYE Mar 2018	19.8	n/a
FYE Mar 2019	16.1	n/a
FYE Mar 2020	11.5	n/a
FYE Mar 2021	13.0	n/a
FYE Mar 2022	25.0	n/a
FYE Mar 2023	43.0	n/a
FYE Mar 2024	38.1	n/a
FYE Mar 2025	51.9	n/a
FYE Mar 2026	85.9	n/a

Definition: What the market says the company is worth
Formula: Year-end share price × shares outstanding
Source: Securities report (XBRL)

Share price year-end close

FYE Mar 2026 1,315¥

Change · 10 yrs −109¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,425	n/a
FYE Mar 2018	1,514	n/a
FYE Mar 2019	1,231	n/a
FYE Mar 2020	880	n/a
FYE Mar 2021	994	n/a
FYE Mar 2022	1,912	n/a
FYE Mar 2023	3,288	n/a
FYE Mar 2024	2,914	n/a
FYE Mar 2025	3,976	n/a
FYE Mar 2026	1,315	n/a

Definition: The closing price on the last day of the fiscal year
Formula: Year-end closing price
Source: Securities report (XBRL)

Shares outstanding

FYE Mar 2026 65,322,000shares

Change · 10 yrs +51,454,243 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	13,867,757	Parent
FYE Mar 2018	13,064,400	Parent
FYE Mar 2019	13,064,400	Parent
FYE Mar 2020	13,064,400	Parent
FYE Mar 2021	13,064,400	Parent
FYE Mar 2022	13,064,400	Parent
FYE Mar 2023	13,064,400	Parent
FYE Mar 2024	13,064,400	Parent
FYE Mar 2025	13,064,400	Parent
FYE Mar 2026	65,322,000	Parent

Definition: How many shares exist
Formula: Shares issued, from the key figures of the filing
Source: Securities report (XBRL)

EPS earnings per share

FYE Mar 2026 148.30¥

Change · 10 yrs +49.56¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	98.74	Cons.
FYE Mar 2018	116.36	Cons.
FYE Mar 2019	171.98	Cons.
FYE Mar 2020	176.26	Cons.
FYE Mar 2021	-233.43	Cons.
FYE Mar 2022	82.96	Cons.
FYE Mar 2023	353.60	Cons.
FYE Mar 2024	241.85	Cons.
FYE Mar 2025	150.03	Cons.
FYE Mar 2026	148.30	Cons.

Definition: Net profit for each share
Formula: Net profit ÷ average shares outstanding
Source: Securities report (XBRL)

BPS book value per share

FYE Mar 2026 851.98¥

Change · 10 yrs −1,434.55¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	2,286.53	Cons. · Japanese GAAP
FYE Mar 2018	2,569.88	Cons. · Japanese GAAP
FYE Mar 2019	2,522.96	Cons. · Japanese GAAP
FYE Mar 2020	2,526.02	Cons. · Japanese GAAP
FYE Mar 2021	2,312.39	Cons. · Japanese GAAP
FYE Mar 2022	2,712.33	Cons. · Japanese GAAP
FYE Mar 2023	4,269.54	Cons. · Japanese GAAP
FYE Mar 2024	4,856.63	Cons. · Japanese GAAP
FYE Mar 2025	5,001.15	Cons. · Japanese GAAP
FYE Mar 2026	851.98	Cons. · Japanese GAAP

Definition: Equity behind each share
Formula: Equity ÷ shares outstanding
Source: Securities report (XBRL)

PER price-to-earnings ratio

FYE Mar 2026 8.87×

Average · 10 yrs 5.84×

Fiscal year	PER ×	Basis
FYE Mar 2017	14.43	Cons.
FYE Mar 2018	13.01	Cons.
FYE Mar 2019	7.16	Cons.
FYE Mar 2020	4.99	Cons.
FYE Mar 2021	-4.26	Cons.
FYE Mar 2022	4.61	Cons.
FYE Mar 2023	1.86	Cons.
FYE Mar 2024	2.41	Cons.
FYE Mar 2025	5.30	Cons.
FYE Mar 2026	8.87	Cons.

Definition: How many years of earnings the price stands for
Formula: Year-end price ÷ EPS
Source: Securities report (XBRL)

PBR price-to-book ratio

FYE Mar 2026 0.91×

Average · 10 yrs 0.61×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.59	Cons.
FYE Mar 2018	0.59	Cons.
FYE Mar 2019	0.49	Cons.
FYE Mar 2020	0.35	Cons.
FYE Mar 2021	0.43	Cons.
FYE Mar 2022	0.70	Cons.
FYE Mar 2023	0.77	Cons.
FYE Mar 2024	0.55	Cons.
FYE Mar 2025	0.68	Cons.
FYE Mar 2026	0.91	Cons.

Definition: The price measured against the book value behind it
Formula: Year-end price ÷ BPS
Source: Securities report (XBRL)

Workforce and productivity Headcount, pay and what each employee accounts for

Group employees

FYE Mar 2026 1,746people

Change · 10 yrs +458 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	1,288	n/a	Cons.
FYE Mar 2018	1,309	+1.6%	Cons.
FYE Mar 2019	1,277	−2.4%	Cons.
FYE Mar 2020	1,274	−0.2%	Cons.
FYE Mar 2021	1,512	+18.7%	Cons.
FYE Mar 2022	1,305	−13.7%	Cons.
FYE Mar 2023	1,455	+11.5%	Cons.
FYE Mar 2024	1,772	+21.8%	Cons.
FYE Mar 2025	1,741	−1.7%	Cons.
FYE Mar 2026	1,746	+0.3%	Cons.

Definition: Everyone employed across the group
Formula: Consolidated headcount, from the employee section of the filing
Source: Securities report (XBRL)

Parent-company employees

FYE Mar 2026 45people

Change · 10 yrs −2 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	47	n/a	Parent
FYE Mar 2018	47	−0.0%	Parent
FYE Mar 2019	43	−8.5%	Parent
FYE Mar 2020	45	+4.7%	Parent
FYE Mar 2021	37	−17.8%	Parent
FYE Mar 2022	37	−0.0%	Parent
FYE Mar 2023	37	−0.0%	Parent
FYE Mar 2024	37	−0.0%	Parent
FYE Mar 2025	42	+13.5%	Parent
FYE Mar 2026	45	+7.1%	Parent

Definition: Employees of the filing company itself
Formula: Parent-only headcount, from the employee section of the filing
Source: Securities report (XBRL)

Average annual pay parent company

FYE Mar 2026 1,096万円

Change · 8 yrs +307万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	790	n/a	Parent
FYE Mar 2020	957	+21.1%	Parent
FYE Mar 2021	899	−6.1%	Parent
FYE Mar 2022	914	+1.7%	Parent
FYE Mar 2023	1,027	+12.4%	Parent
FYE Mar 2024	1,058	+3.0%	Parent
FYE Mar 2025	1,080	+2.1%	Parent
FYE Mar 2026	1,096	+1.5%	Parent

Definition: Average total annual compensation, bonuses included
Formula: Average annual pay, from the employee section of the filing
Source: Securities report (XBRL)

Average age

FYE Mar 2026 44.6years

Change · 8 yrs +2.0 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	42.6	n/a	Parent
FYE Mar 2020	43.2	+1.4%	Parent
FYE Mar 2021	43.9	+1.6%	Parent
FYE Mar 2022	44.4	+1.1%	Parent
FYE Mar 2023	44.9	+1.1%	Parent
FYE Mar 2024	44.7	−0.4%	Parent
FYE Mar 2025	44.7	−0.0%	Parent
FYE Mar 2026	44.6	−0.2%	Parent

Definition: Average age of the parent company's employees
Formula: Average age, from the employee section of the filing
Source: Securities report (XBRL)

Average length of service

FYE Mar 2026 9.5years

Change · 8 yrs −1.1 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	10.6	n/a	Parent
FYE Mar 2020	9.0	−15.1%	Parent
FYE Mar 2021	9.2	+2.2%	Parent
FYE Mar 2022	9.0	−2.2%	Parent
FYE Mar 2023	7.7	−14.4%	Parent
FYE Mar 2024	7.0	−9.1%	Parent
FYE Mar 2025	8.2	+17.1%	Parent
FYE Mar 2026	9.5	+15.9%	Parent

Definition: How long the average employee has been with the company
Formula: Average years of service, from the employee section of the filing
Source: Securities report (XBRL)

Temporary employees

FYE Mar 2026 58people

Change · 10 yrs −613 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	671	n/a	n/a
FYE Mar 2018	623	−7.2%	n/a
FYE Mar 2019	569	−8.7%	n/a
FYE Mar 2020	331	−41.8%	n/a
FYE Mar 2021	143	−56.8%	n/a
FYE Mar 2022	81	−43.4%	n/a
FYE Mar 2023	79	−2.5%	n/a
FYE Mar 2024	93	+17.7%	n/a
FYE Mar 2025	128	+37.6%	n/a
FYE Mar 2026	58	−54.7%	n/a

Definition: Average number of temporary and part-time staff over the year
Formula: Average temporary headcount, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Mar 2026 ¥37.5m

Change · 10 yrs −¥3.7m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	41.2	n/a	Cons.
FYE Mar 2018	50.7	+22.9%	Cons.
FYE Mar 2019	59.3	+17.0%	Cons.
FYE Mar 2020	52.3	−11.8%	Cons.
FYE Mar 2021	37.9	−27.4%	Cons.
FYE Mar 2022	35.7	−5.9%	Cons.
FYE Mar 2023	55.0	+54.0%	Cons.
FYE Mar 2024	43.7	−20.5%	Cons.
FYE Mar 2025	34.8	−20.4%	Cons.
FYE Mar 2026	37.5	+7.8%	Cons.

Definition: What each employee accounts for in revenue
Formula: Revenue ÷ group employees
Source: Securities report (XBRL)

Operating profit per employee

FYE Mar 2026 ¥5.5m

Change · 10 yrs +¥4.7m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	0.8	n/a	Cons.
FYE Mar 2018	1.2	+46.7%	Cons.
FYE Mar 2019	4.1	+248.2%	Cons.
FYE Mar 2020	2.2	−47.2%	Cons.
FYE Mar 2021	1.3	−40.2%	Cons.
FYE Mar 2022	6.4	+401.1%	Cons.
FYE Mar 2023	24.6	+281.4%	Cons.
FYE Mar 2024	14.2	−42.3%	Cons.
FYE Mar 2025	4.4	−69.2%	Cons.
FYE Mar 2026	5.5	+25.4%	Cons.

Definition: What each employee accounts for in operating profit
Formula: Operating profit ÷ group employees
Source: Securities report (XBRL)

Disclaimer

Figures are reproduced as filed and are not restated: a change of accounting standard or of consolidation basis moves the series without anything happening to the business. Where that happened, the table says so in place of the year-on-year figure.
Ratios and per-employee figures are computed from the filed lines rather than taken from the filing, and use year-end balances rather than averages.

Accuracy, liability, reuse and privacy — the full disclaimer →

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