Financials

Taisei: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥2.09tnYoY −3.0%

FYE Mar 2026 · Operating profit¥188bnYoY +56.4%

FYE Mar 2026 · Net profit¥170bnYoY +37.3%

FYE Mar 2026 · Equity ratio34.9%YoY −0.7pp

FYE Mar 2026 · Group employees18,503YoY +2,121

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.49tn	n/a	¥141bn	n/a	9.5%	¥91bn	Murata Yoshiyuki	—
FYE Mar 2018Consolidated	¥1.59tn	+6.6%	¥182bn	+29.1%	11.5%	¥127bn	Murata Yoshiyuki	—
FYE Mar 2019Consolidated	¥1.65tn	+4.1%	¥153bn	−15.7%	9.3%	¥113bn	Murata Yoshiyuki	Indicted over bid-rigging on the Chuo Shinkansen maglev; denies the charge
FYE Mar 2020Consolidated	¥1.75tn	+6.1%	¥168bn	+9.4%	9.6%	¥122bn	Murata Yoshiyuki	—
FYE Mar 2021Consolidated	¥1.48tn	−15.5%	¥131bn	−22.2%	8.8%	¥93bn	Murata Yoshiyuki	<a class="en-history_person" href="/tse/1801/executives/ceo/aikawa-yoshiro/" hreflang="ja">Aikawa Yoshiro</a> succeeds <a class="en-history_person" href="/tse/1801/executives/ceo/murata-yoshiyuki/" hreflang="ja">Murata Yoshiyuki</a> as president
FYE Mar 2022Consolidated	¥1.54tn	+4.3%	¥96bn	−26.4%	6.2%	¥71bn	Aikawa Yoshiro	—
FYE Mar 2023Consolidated	¥1.64tn	+6.4%	¥55bn	−43.0%	3.3%	¥47bn	Aikawa Yoshiro	—
FYE Mar 2024Consolidated	¥1.77tn	+7.4%	¥26bn	−51.6%	1.5%	¥40bn	Aikawa Yoshiro	PS Mitsubishi Construction made a subsidiary
FYE Mar 2025Consolidated	¥2.15tn	+22.1%	¥120bn	+353.8%	5.6%	¥124bn	Aikawa Yoshiro	Capital and business tie-up with Heiwa Real Estate
FYE Mar 2026Consolidated	¥2.09tn	−3.0%	¥188bn	+56.4%	9.0%	¥170bn	Aikawa Yoshiro	Toyo Construction acquired by tender offer, about ¥160bn in total

How it compares

Kajima¥3.07tnFY2025Operating margin 7.8%Obayashi¥2.59tnFY2025Operating margin 7.5%

Taisei¥2.09tnFY2025Operating margin 9.0%

Shimizu¥2.06tnFY2025Operating margin 5.8%

Takenaka¥1.61tnFY2025Operating margin 5.8%

Kumagaigumi¥488bnFY2025Operating margin 5.6%

Nishimatsu Construction Co., Ltd.¥396bnFY2025Operating margin 7.1%

Okumuragumi¥307bnFY2025Operating margin 5.2%

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 ¥2.09tn

CAGR · 10 yrs +3.8%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,487	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,585	+6.6%	Cons. · Japanese GAAP
FYE Mar 2019	1,651	+4.1%	Cons. · Japanese GAAP
FYE Mar 2020	1,751	+6.1%	Cons. · Japanese GAAP
FYE Mar 2021	1,480	−15.5%	Cons. · Japanese GAAP
FYE Mar 2022	1,543	+4.3%	Cons. · Japanese GAAP
FYE Mar 2023	1,643	+6.4%	Cons. · Japanese GAAP
FYE Mar 2024	1,765	+7.4%	Cons. · Japanese GAAP
FYE Mar 2025	2,154	+22.1%	Cons. · Japanese GAAP
FYE Mar 2026	2,089	−3.0%	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 ¥1.76tn

CAGR · 10 yrs +3.8%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,261	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,319	+4.6%	Cons. · Japanese GAAP
FYE Mar 2019	1,409	+6.9%	Cons. · Japanese GAAP
FYE Mar 2020	1,493	+5.9%	Cons. · Japanese GAAP
FYE Mar 2021	1,261	−15.5%	Cons. · Japanese GAAP
FYE Mar 2022	1,356	+7.5%	Cons. · Japanese GAAP
FYE Mar 2023	1,495	+10.3%	Cons. · Japanese GAAP
FYE Mar 2024	1,638	+9.5%	Cons. · Japanese GAAP
FYE Mar 2025	1,923	+17.4%	Cons. · Japanese GAAP
FYE Mar 2026	1,759	−8.5%	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 ¥330bn

CAGR · 10 yrs +4.3%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	226	n/a	Cons. · Japanese GAAP
FYE Mar 2018	267	+17.8%	Cons. · Japanese GAAP
FYE Mar 2019	241	−9.4%	Cons. · Japanese GAAP
FYE Mar 2020	259	+7.1%	Cons. · Japanese GAAP
FYE Mar 2021	219	−15.4%	Cons. · Japanese GAAP
FYE Mar 2022	188	−14.2%	Cons. · Japanese GAAP
FYE Mar 2023	148	−21.3%	Cons. · Japanese GAAP
FYE Mar 2024	127	−13.8%	Cons. · Japanese GAAP
FYE Mar 2025	231	+81.4%	Cons. · Japanese GAAP
FYE Mar 2026	330	+42.8%	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 ¥142bn

CAGR · 10 yrs +5.8%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	85.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	84.8	−0.8%	Cons. · Japanese GAAP
FYE Mar 2019	88.1	+4.0%	Cons. · Japanese GAAP
FYE Mar 2020	90.9	+3.2%	Cons. · Japanese GAAP
FYE Mar 2021	88.3	−2.9%	Cons. · Japanese GAAP
FYE Mar 2022	91.7	+3.8%	Cons. · Japanese GAAP
FYE Mar 2023	93.0	+1.5%	Cons. · Japanese GAAP
FYE Mar 2024	101	+8.5%	Cons. · Japanese GAAP
FYE Mar 2025	111	+10.0%	Cons. · Japanese GAAP
FYE Mar 2026	142	+28.0%	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 ¥188bn

CAGR · 10 yrs +3.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	141	n/a	Cons. · Japanese GAAP
FYE Mar 2018	182	+29.1%	Cons. · Japanese GAAP
FYE Mar 2019	153	−15.7%	Cons. · Japanese GAAP
FYE Mar 2020	168	+9.4%	Cons. · Japanese GAAP
FYE Mar 2021	131	−22.2%	Cons. · Japanese GAAP
FYE Mar 2022	96.1	−26.4%	Cons. · Japanese GAAP
FYE Mar 2023	54.7	−43.0%	Cons. · Japanese GAAP
FYE Mar 2024	26.5	−51.6%	Cons. · Japanese GAAP
FYE Mar 2025	120	+353.8%	Cons. · Japanese GAAP
FYE Mar 2026	188	+56.4%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥15bn

CAGR · 10 yrs +6.3%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.0	−28.4%	Cons. · Japanese GAAP
FYE Mar 2019	6.8	+13.3%	Cons. · Japanese GAAP
FYE Mar 2020	7.2	+5.8%	Cons. · Japanese GAAP
FYE Mar 2021	7.0	−2.6%	Cons. · Japanese GAAP
FYE Mar 2022	8.4	+20.5%	Cons. · Japanese GAAP
FYE Mar 2023	9.7	+15.3%	Cons. · Japanese GAAP
FYE Mar 2024	14.7	+51.4%	Cons. · Japanese GAAP
FYE Mar 2025	18.9	+28.6%	Cons. · Japanese GAAP
FYE Mar 2026	14.6	−22.9%	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 ¥6.8bn

CAGR · 10 yrs +4.4%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	4.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.5	−45.6%	Cons. · Japanese GAAP
FYE Mar 2019	2.2	−13.1%	Cons. · Japanese GAAP
FYE Mar 2020	1.6	−27.0%	Cons. · Japanese GAAP
FYE Mar 2021	1.6	−1.2%	Cons. · Japanese GAAP
FYE Mar 2022	1.3	−20.2%	Cons. · Japanese GAAP
FYE Mar 2023	1.3	+5.7%	Cons. · Japanese GAAP
FYE Mar 2024	2.3	+71.0%	Cons. · Japanese GAAP
FYE Mar 2025	4.5	+100.8%	Cons. · Japanese GAAP
FYE Mar 2026	6.8	+48.6%	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 ¥196bn

CAGR · 10 yrs +3.4%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	145	n/a	Cons. · Japanese GAAP
FYE Mar 2018	185	+28.2%	Cons. · Japanese GAAP
FYE Mar 2019	158	−14.8%	Cons. · Japanese GAAP
FYE Mar 2020	173	+9.8%	Cons. · Japanese GAAP
FYE Mar 2021	136	−21.6%	Cons. · Japanese GAAP
FYE Mar 2022	103	−24.0%	Cons. · Japanese GAAP
FYE Mar 2023	63.1	−38.9%	Cons. · Japanese GAAP
FYE Mar 2024	38.9	−38.4%	Cons. · Japanese GAAP
FYE Mar 2025	135	+245.7%	Cons. · Japanese GAAP
FYE Mar 2026	196	+45.6%	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 ¥55bn

CAGR · 10 yrs +35.7%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.1	−69.1%	Cons. · Japanese GAAP
FYE Mar 2019	3.7	+241.5%	Cons. · Japanese GAAP
FYE Mar 2020	4.8	+29.3%	Cons. · Japanese GAAP
FYE Mar 2021	1.8	−63.0%	Cons. · Japanese GAAP
FYE Mar 2022	1.8	−0.2%	Cons. · Japanese GAAP
FYE Mar 2023	6.6	+269.3%	Cons. · Japanese GAAP
FYE Mar 2024	19.9	+202.7%	Cons. · Japanese GAAP
FYE Mar 2025	48.9	+146.0%	Cons. · Japanese GAAP
FYE Mar 2026	55.2	+12.9%	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 ¥170bn

CAGR · 10 yrs +7.2%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	90.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	127	+40.0%	Cons. · Japanese GAAP
FYE Mar 2019	113	−11.2%	Cons. · Japanese GAAP
FYE Mar 2020	122	+8.5%	Cons. · Japanese GAAP
FYE Mar 2021	92.6	−24.2%	Cons. · Japanese GAAP
FYE Mar 2022	71.4	−22.8%	Cons. · Japanese GAAP
FYE Mar 2023	47.1	−34.0%	Cons. · Japanese GAAP
FYE Mar 2024	40.3	−14.5%	Cons. · Japanese GAAP
FYE Mar 2025	124	+207.5%	Cons. · Japanese GAAP
FYE Mar 2026	170	+37.3%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 15.8%

Average · 10 yrs 13.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	15.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.8	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	14.6	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2020	14.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	14.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	12.2	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2023	9.0	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2024	7.2	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	10.7	+3.5pp	Cons. · Japanese GAAP
FYE Mar 2026	15.8	+5.1pp	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 9.0%

Average · 10 yrs 7.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	9.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.5	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2019	9.3	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2020	9.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	8.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	6.2	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2023	3.3	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	1.5	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	5.6	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2026	9.0	+3.4pp	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 9.4%

Average · 10 yrs 7.8%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	9.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.7	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2019	9.6	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2020	9.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	9.2	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	6.7	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2023	3.8	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2024	2.2	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	6.2	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2026	9.4	+3.1pp	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 8.1%

Average · 10 yrs 5.8%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	6.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.0	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2019	6.8	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	7.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	6.3	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	4.6	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2023	2.9	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2024	2.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	5.7	+3.5pp	Cons. · Japanese GAAP
FYE Mar 2026	8.1	+2.4pp	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 84.2%

Average · 10 yrs 86.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	84.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	83.2	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	85.4	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2020	85.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	85.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	87.8	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2023	91.0	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2024	92.8	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	89.3	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2026	84.2	−5.1pp	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 6.8%

Average · 10 yrs 5.7%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	5.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	5.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	6.0	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	5.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2023	5.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	5.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	5.2	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	6.8	+1.6pp	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 ¥2.71tn

CAGR · 10 yrs +4.9%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	1,760	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,911	+8.6%	Cons. · Japanese GAAP
FYE Mar 2019	1,846	−3.4%	Cons. · Japanese GAAP
FYE Mar 2020	1,890	+2.4%	Cons. · Japanese GAAP
FYE Mar 2021	1,871	−1.0%	Cons. · Japanese GAAP
FYE Mar 2022	1,956	+4.6%	Cons. · Japanese GAAP
FYE Mar 2023	2,017	+3.1%	Cons. · Japanese GAAP
FYE Mar 2024	2,584	+28.1%	Cons. · Japanese GAAP
FYE Mar 2025	2,429	−6.0%	Cons. · Japanese GAAP
FYE Mar 2026	2,715	+11.8%	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 ¥948bn

CAGR · 10 yrs +5.8%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	569	n/a	Cons. · Japanese GAAP
FYE Mar 2018	667	+17.3%	Cons. · Japanese GAAP
FYE Mar 2019	720	+8.0%	Cons. · Japanese GAAP
FYE Mar 2020	750	+4.1%	Cons. · Japanese GAAP
FYE Mar 2021	841	+12.1%	Cons. · Japanese GAAP
FYE Mar 2022	869	+3.3%	Cons. · Japanese GAAP
FYE Mar 2023	829	−4.6%	Cons. · Japanese GAAP
FYE Mar 2024	929	+12.1%	Cons. · Japanese GAAP
FYE Mar 2025	866	−6.8%	Cons. · Japanese GAAP
FYE Mar 2026	948	+9.5%	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 ¥367bn

CAGR · 10 yrs +7.3%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	195	n/a	Cons. · Japanese GAAP
FYE Mar 2018	194	−0.3%	Cons. · Japanese GAAP
FYE Mar 2019	177	−8.5%	Cons. · Japanese GAAP
FYE Mar 2020	168	−5.3%	Cons. · Japanese GAAP
FYE Mar 2021	169	+0.5%	Cons. · Japanese GAAP
FYE Mar 2022	164	−2.8%	Cons. · Japanese GAAP
FYE Mar 2023	162	−1.6%	Cons. · Japanese GAAP
FYE Mar 2024	253	+56.8%	Cons. · Japanese GAAP
FYE Mar 2025	243	−4.1%	Cons. · Japanese GAAP
FYE Mar 2026	367	+51.2%	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 ¥162bn

CAGR · 10 yrs +3.9%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	115	n/a	Cons. · Japanese GAAP
FYE Mar 2018	90.0	−21.6%	Cons. · Japanese GAAP
FYE Mar 2019	91.0	+1.1%	Cons. · Japanese GAAP
FYE Mar 2020	87.9	−3.3%	Cons. · Japanese GAAP
FYE Mar 2021	89.3	+1.5%	Cons. · Japanese GAAP
FYE Mar 2022	97.9	+9.7%	Cons. · Japanese GAAP
FYE Mar 2023	82.0	−16.3%	Cons. · Japanese GAAP
FYE Mar 2024	111	+35.2%	Cons. · Japanese GAAP
FYE Mar 2025	115	+4.2%	Cons. · Japanese GAAP
FYE Mar 2026	162	+40.3%	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 ¥205bn

CAGR · 10 yrs +10.6%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	82.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	107	+28.9%	Cons. · Japanese GAAP
FYE Mar 2019	86.5	−19.1%	Cons. · Japanese GAAP
FYE Mar 2020	80.2	−7.3%	Cons. · Japanese GAAP
FYE Mar 2021	79.8	−0.5%	Cons. · Japanese GAAP
FYE Mar 2022	66.4	−16.7%	Cons. · Japanese GAAP
FYE Mar 2023	79.7	+20.1%	Cons. · Japanese GAAP
FYE Mar 2024	215	+170.3%	Cons. · Japanese GAAP
FYE Mar 2025	140	−35.0%	Cons. · Japanese GAAP
FYE Mar 2026	205	+46.7%	Cons. · Japanese GAAP

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

Bonds

FYE Mar 2026 n/a

CAGR · 9 yrs +5.1%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	40.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50.5	+24.7%	Cons. · Japanese GAAP
FYE Mar 2019	40.0	−20.8%	Cons. · Japanese GAAP
FYE Mar 2020	40.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	50.0	+25.0%	Cons. · Japanese GAAP
FYE Mar 2022	60.0	+20.0%	Cons. · Japanese GAAP
FYE Mar 2023	40.0	−33.3%	Cons. · Japanese GAAP
FYE Mar 2024	50.0	+25.0%	Cons. · Japanese GAAP
FYE Mar 2025	60.1	+20.2%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: Bonds outstanding
Formula: Bonds line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥116bn

CAGR · 10 yrs +41.6%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	5.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.6	+127.2%	Cons. · Japanese GAAP
FYE Mar 2019	13.0	+12.8%	Cons. · Japanese GAAP
FYE Mar 2020	14.3	+9.7%	Cons. · Japanese GAAP
FYE Mar 2021	14.8	+3.6%	Cons. · Japanese GAAP
FYE Mar 2022	16.0	+8.2%	Cons. · Japanese GAAP
FYE Mar 2023	17.6	+9.8%	Cons. · Japanese GAAP
FYE Mar 2024	27.2	+54.4%	Cons. · Japanese GAAP
FYE Mar 2025	27.5	+1.4%	Cons. · Japanese GAAP
FYE Mar 2026	116	+322.0%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 34.9%

Average · 10 yrs 38.3%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	32.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	34.9	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2019	39.0	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2020	39.7	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	45.0	+5.3pp	Cons. · Japanese GAAP
FYE Mar 2022	44.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	41.1	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2024	36.0	−5.1pp	Cons. · Japanese GAAP
FYE Mar 2025	35.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	34.9	−0.7pp	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 38.8%

Average · 10 yrs 26.3%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	34.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.1	−5.1pp	Cons. · Japanese GAAP
FYE Mar 2019	24.6	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2020	22.4	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2021	20.1	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2022	18.9	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	19.5	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	27.3	+7.8pp	Cons. · Japanese GAAP
FYE Mar 2025	28.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	38.8	+10.7pp	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 17.9%

Average · 10 yrs 12.8%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	15.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.0	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2019	15.6	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2020	16.3	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	11.0	−5.3pp	Cons. · Japanese GAAP
FYE Mar 2022	8.2	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2023	5.7	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2024	4.3	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	14.3	+10.0pp	Cons. · Japanese GAAP
FYE Mar 2026	17.9	+3.6pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 6.3%

Average · 10 yrs 4.8%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	5.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.6	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	6.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	6.5	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	4.9	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2022	3.7	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2023	2.3	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2024	1.6	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	5.1	+3.5pp	Cons. · Japanese GAAP
FYE Mar 2026	6.3	+1.2pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.77×

CAGR · 10 yrs −1.0%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.84	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.83	−1.8%	Cons. · Japanese GAAP
FYE Mar 2019	0.89	+7.8%	Cons. · Japanese GAAP
FYE Mar 2020	0.93	+3.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.79	−14.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.79	−0.3%	Cons. · Japanese GAAP
FYE Mar 2023	0.81	+3.3%	Cons. · Japanese GAAP
FYE Mar 2024	0.68	−16.1%	Cons. · Japanese GAAP
FYE Mar 2025	0.89	+29.8%	Cons. · Japanese GAAP
FYE Mar 2026	0.77	−13.2%	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 ¥147bn

CAGR · 10 yrs −4.3%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	218	n/a	Cons. · Japanese GAAP
FYE Mar 2018	207	−5.1%	Cons. · Japanese GAAP
FYE Mar 2019	-71.0	−134.3%	Cons. · Japanese GAAP
FYE Mar 2020	77.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	67.5	−12.9%	Cons. · Japanese GAAP
FYE Mar 2022	80.5	+19.3%	Cons. · Japanese GAAP
FYE Mar 2023	30.1	−62.6%	Cons. · Japanese GAAP
FYE Mar 2024	40.6	+34.9%	Cons. · Japanese GAAP
FYE Mar 2025	-13.8	−134.1%	Cons. · Japanese GAAP
FYE Mar 2026	147	n/a	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 -¥196bn

Average · 10 yrs -¥45bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-11.9	−288.2%	Cons. · Japanese GAAP
FYE Mar 2019	-82.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	33.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-18.7	−156.2%	Cons. · Japanese GAAP
FYE Mar 2022	-37.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-14.1	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-139	n/a	Cons. · Japanese GAAP
FYE Mar 2025	10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-196	−1960.2%	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 ¥24bn

Average · 10 yrs -¥44bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-60.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-41.7	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-96.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-66.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-37.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-41.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-98.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	109	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-134	−222.3%	Cons. · Japanese GAAP
FYE Mar 2026	24.4	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 ¥273bn

CAGR · 10 yrs −7.2%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	535	n/a	Cons. · Japanese GAAP
FYE Mar 2018	687	+28.5%	Cons. · Japanese GAAP
FYE Mar 2019	438	−36.3%	Cons. · Japanese GAAP
FYE Mar 2020	483	+10.3%	Cons. · Japanese GAAP
FYE Mar 2021	494	+2.4%	Cons. · Japanese GAAP
FYE Mar 2022	497	+0.5%	Cons. · Japanese GAAP
FYE Mar 2023	416	−16.3%	Cons. · Japanese GAAP
FYE Mar 2024	431	+3.6%	Cons. · Japanese GAAP
FYE Mar 2025	296	−31.3%	Cons. · Japanese GAAP
FYE Mar 2026	273	−7.8%	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 -¥49bn

Average · 10 yrs ¥33bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	224	n/a	Cons. · Japanese GAAP
FYE Mar 2018	195	−13.0%	Cons. · Japanese GAAP
FYE Mar 2019	-153	−178.6%	Cons. · Japanese GAAP
FYE Mar 2020	111	n/a	Cons. · Japanese GAAP
FYE Mar 2021	48.8	−55.9%	Cons. · Japanese GAAP
FYE Mar 2022	42.8	−12.3%	Cons. · Japanese GAAP
FYE Mar 2023	16.0	−62.5%	Cons. · Japanese GAAP
FYE Mar 2024	-98.1	−711.7%	Cons. · Japanese GAAP
FYE Mar 2025	-3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-48.6	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 7.1%

Average · 10 yrs 4.8%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	14.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.1	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	-4.3	−17.4pp	Cons. · Japanese GAAP
FYE Mar 2020	4.4	+8.7pp	Cons. · Japanese GAAP
FYE Mar 2021	4.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	5.2	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	1.8	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2024	2.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	-0.6	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2026	7.1	+7.7pp	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 -¥94bn

Average · 10 yrs ¥246bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	340	n/a	Cons. · Japanese GAAP
FYE Mar 2018	493	+45.0%	Cons. · Japanese GAAP
FYE Mar 2019	260	−47.3%	Cons. · Japanese GAAP
FYE Mar 2020	315	+21.0%	Cons. · Japanese GAAP
FYE Mar 2021	325	+3.4%	Cons. · Japanese GAAP
FYE Mar 2022	333	+2.2%	Cons. · Japanese GAAP
FYE Mar 2023	254	−23.5%	Cons. · Japanese GAAP
FYE Mar 2024	177	−30.2%	Cons. · Japanese GAAP
FYE Mar 2025	53.0	−70.2%	Cons. · Japanese GAAP
FYE Mar 2026	-94.4	−278.4%	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 ¥2.63tn

Change · 10 yrs +¥1.70tn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	928	n/a
FYE Mar 2018	1,210	n/a
FYE Mar 2019	1,149	n/a
FYE Mar 2020	746	n/a
FYE Mar 2021	954	n/a
FYE Mar 2022	712	n/a
FYE Mar 2023	774	n/a
FYE Mar 2024	1,037	n/a
FYE Mar 2025	1,213	n/a
FYE Mar 2026	2,627	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 16,101¥

Change · 10 yrs +15,292¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	809	n/a
FYE Mar 2018	5,389	n/a
FYE Mar 2019	5,119	n/a
FYE Mar 2020	3,324	n/a
FYE Mar 2021	4,250	n/a
FYE Mar 2022	3,544	n/a
FYE Mar 2023	4,101	n/a
FYE Mar 2024	5,610	n/a
FYE Mar 2025	6,623	n/a
FYE Mar 2026	16,101	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 163,185,872shares

Change · 10 yrs −983,566,988 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	1,146,752,860	Parent
FYE Mar 2018	224,541,172	Parent
FYE Mar 2019	224,541,172	Parent
FYE Mar 2020	224,541,172	Parent
FYE Mar 2021	224,541,172	Parent
FYE Mar 2022	200,803,372	Parent
FYE Mar 2023	188,771,572	Parent
FYE Mar 2024	184,795,472	Parent
FYE Mar 2025	183,166,472	Parent
FYE Mar 2026	163,185,872	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 1,025.53¥

Change · 10 yrs +632.66¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	392.87	Cons.
FYE Mar 2018	561.36	Cons.
FYE Mar 2019	511.90	Cons.
FYE Mar 2020	573.14	Cons.
FYE Mar 2021	442.66	Cons.
FYE Mar 2022	350.88	Cons.
FYE Mar 2023	241.24	Cons.
FYE Mar 2024	215.75	Cons.
FYE Mar 2025	682.78	Cons.
FYE Mar 2026	1,025.53	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 5,809.79¥

Change · 10 yrs +5,313.80¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	495.99	Cons. · Japanese GAAP
FYE Mar 2018	2,971.18	Cons. · Japanese GAAP
FYE Mar 2019	3,208.42	Cons. · Japanese GAAP
FYE Mar 2020	3,340.85	Cons. · Japanese GAAP
FYE Mar 2021	3,744.73	Cons. · Japanese GAAP
FYE Mar 2022	4,327.05	Cons. · Japanese GAAP
FYE Mar 2023	4,392.55	Cons. · Japanese GAAP
FYE Mar 2024	5,028.99	Cons. · Japanese GAAP
FYE Mar 2025	4,728.97	Cons. · Japanese GAAP
FYE Mar 2026	5,809.79	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 15.70×

Average · 10 yrs 12.38×

Fiscal year	PER ×	Basis
FYE Mar 2017	10.30	Cons.
FYE Mar 2018	9.60	Cons.
FYE Mar 2019	10.00	Cons.
FYE Mar 2020	5.80	Cons.
FYE Mar 2021	9.60	Cons.
FYE Mar 2022	10.10	Cons.
FYE Mar 2023	17.00	Cons.
FYE Mar 2024	26.00	Cons.
FYE Mar 2025	9.70	Cons.
FYE Mar 2026	15.70	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 2.77×

Average · 10 yrs 1.39×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.63	Cons.
FYE Mar 2018	1.81	Cons.
FYE Mar 2019	1.55	Cons.
FYE Mar 2020	0.94	Cons.
FYE Mar 2021	1.04	Cons.
FYE Mar 2022	0.82	Cons.
FYE Mar 2023	0.93	Cons.
FYE Mar 2024	1.11	Cons.
FYE Mar 2025	1.31	Cons.
FYE Mar 2026	2.77	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 18,503people

Change · 10 yrs +4,526 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	13,977	n/a	Cons.
FYE Mar 2018	14,032	+0.4%	Cons.
FYE Mar 2019	14,433	+2.9%	Cons.
FYE Mar 2020	14,562	+0.9%	Cons.
FYE Mar 2021	14,620	+0.4%	Cons.
FYE Mar 2022	14,518	−0.7%	Cons.
FYE Mar 2023	14,466	−0.4%	Cons.
FYE Mar 2024	16,285	+12.6%	Cons.
FYE Mar 2025	16,382	+0.6%	Cons.
FYE Mar 2026	18,503	+12.9%	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 9,518people

Change · 10 yrs +1,103 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	8,415	n/a	Parent
FYE Mar 2018	8,501	+1.0%	Parent
FYE Mar 2019	8,490	−0.1%	Parent
FYE Mar 2020	8,507	+0.2%	Parent
FYE Mar 2021	8,572	+0.8%	Parent
FYE Mar 2022	8,579	+0.1%	Parent
FYE Mar 2023	8,613	+0.4%	Parent
FYE Mar 2024	8,720	+1.2%	Parent
FYE Mar 2025	8,994	+3.1%	Parent
FYE Mar 2026	9,518	+5.8%	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 ¥11.9m

Change · 10 yrs +¥2.4m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	9.5	n/a	Parent
FYE Mar 2018	9.9	+3.9%	Parent
FYE Mar 2019	10.5	+6.5%	Parent
FYE Mar 2020	10.1	−3.9%	Parent
FYE Mar 2021	9.9	−2.5%	Parent
FYE Mar 2022	9.6	−2.2%	Parent
FYE Mar 2023	9.9	+3.1%	Parent
FYE Mar 2024	10.2	+3.2%	Parent
FYE Mar 2025	10.6	+3.3%	Parent
FYE Mar 2026	11.9	+12.6%	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 42.3years

Change · 8 yrs −0.7 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	43.0	n/a	Parent
FYE Mar 2020	43.0	−0.0%	Parent
FYE Mar 2021	42.9	−0.2%	Parent
FYE Mar 2022	42.9	−0.0%	Parent
FYE Mar 2023	43.0	+0.2%	Parent
FYE Mar 2024	42.9	−0.2%	Parent
FYE Mar 2025	42.4	−1.2%	Parent
FYE Mar 2026	42.3	−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 17.0years

Change · 10 yrs −1.3 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	18.3	n/a	Parent
FYE Mar 2018	18.3	−0.0%	Parent
FYE Mar 2019	18.3	−0.0%	Parent
FYE Mar 2020	18.3	−0.0%	Parent
FYE Mar 2021	18.2	−0.5%	Parent
FYE Mar 2022	18.2	−0.0%	Parent
FYE Mar 2023	18.1	−0.5%	Parent
FYE Mar 2024	17.9	−1.1%	Parent
FYE Mar 2025	17.2	−3.9%	Parent
FYE Mar 2026	17.0	−1.2%	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 5,085people

Change · 10 yrs +1,129 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	3,956	n/a	n/a
FYE Mar 2018	3,640	−8.0%	n/a
FYE Mar 2019	3,649	+0.2%	n/a
FYE Mar 2020	3,816	+4.6%	n/a
FYE Mar 2021	3,951	+3.5%	n/a
FYE Mar 2022	3,993	+1.1%	n/a
FYE Mar 2023	4,035	+1.1%	n/a
FYE Mar 2024	4,286	+6.2%	n/a
FYE Mar 2025	4,484	+4.6%	n/a
FYE Mar 2026	5,085	+13.4%	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 ¥113m

Change · 10 yrs +¥6.5m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	106	n/a	Cons.
FYE Mar 2018	113	+6.2%	Cons.
FYE Mar 2019	114	+1.2%	Cons.
FYE Mar 2020	120	+5.1%	Cons.
FYE Mar 2021	101	−15.8%	Cons.
FYE Mar 2022	106	+5.0%	Cons.
FYE Mar 2023	114	+6.8%	Cons.
FYE Mar 2024	108	−4.6%	Cons.
FYE Mar 2025	131	+21.3%	Cons.
FYE Mar 2026	113	−14.1%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥10.2m

Change · 10 yrs +¥0.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	10.1	n/a	Cons.
FYE Mar 2018	13.0	+28.6%	Cons.
FYE Mar 2019	10.6	−18.0%	Cons.
FYE Mar 2020	11.5	+8.4%	Cons.
FYE Mar 2021	8.9	−22.5%	Cons.
FYE Mar 2022	6.6	−25.9%	Cons.
FYE Mar 2023	3.8	−42.8%	Cons.
FYE Mar 2024	1.6	−57.0%	Cons.
FYE Mar 2025	7.3	+351.1%	Cons.
FYE Mar 2026	10.2	+38.5%	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.

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