Financials

Obayashi: FYE Mar 2026 and ten years of results (51 metrics)

FYE Mar 2026 · Revenue¥2.59tnYoY −1.3%

FYE Mar 2026 · Operating profit¥195bnYoY +35.7%

FYE Mar 2026 · Net profit¥174bnYoY +19.0%

FYE Mar 2026 · Equity ratio40.0%YoY +2.0pp

FYE Mar 2026 · Group employees18,031YoY +726

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.87tn	n/a	¥134bn	n/a	7.1%	¥95bn	Shiraishi Toru	—
FYE Mar 2018Consolidated	¥1.90tn	+1.5%	¥138bn	+3.0%	7.3%	¥93bn	Shiraishi Toru	Obayashi Road made a wholly owned subsidiary; maglev bid-rigging suspicion surfaces
FYE Mar 2019Consolidated	¥2.04tn	+7.3%	¥155bn	+12.8%	7.6%	¥113bn	Shiraishi Toru	Shiraishi resigns, <a class="en-history_person" href="/tse/1802/executives/ceo/hasuwa-kenji/" hreflang="ja">Hasuwa Kenji</a> becomes president, and the company is indicted
FYE Mar 2020Consolidated	¥2.07tn	+1.6%	¥153bn	−1.7%	7.4%	¥113bn	Hasuwa Kenji	Asia branch in Singapore and North America branch in the United States opened
FYE Mar 2021Consolidated	¥1.77tn	−14.8%	¥123bn	−19.4%	7.0%	¥99bn	Hasuwa Kenji	—
FYE Mar 2022Consolidated	¥1.92tn	+8.8%	¥41bn	−66.7%	2.1%	¥39bn	Hasuwa Kenji	Business Innovation Promotion Office set up with forty staff
FYE Mar 2023Consolidated	¥1.98tn	+3.2%	¥94bn	+128.5%	4.7%	¥78bn	Hasuwa Kenji	—
FYE Mar 2024Consolidated	¥2.33tn	+17.2%	¥79bn	−15.4%	3.4%	¥75bn	Hasuwa Kenji	Silchester’s special-dividend proposal voted down; MWH acquired in North America
FYE Mar 2025Consolidated	¥2.62tn	+12.7%	¥143bn	+80.7%	5.5%	¥146bn	Hasuwa Kenji	Entry into the data-centre business announced
FYE Mar 2026Consolidated	¥2.59tn	−1.3%	¥195bn	+35.7%	7.5%	¥174bn	Hasuwa Kenji	<a class="en-history_person" href="/tse/1802/executives/ceo/sato-toshimi/" hreflang="ja">Sato Toshimi</a> becomes ninth president; GCON acquired in the United States

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 ¥2.59tn

CAGR · 10 yrs +3.7%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,873	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,901	+1.5%	Cons. · Japanese GAAP
FYE Mar 2019	2,040	+7.3%	Cons. · Japanese GAAP
FYE Mar 2020	2,073	+1.6%	Cons. · Japanese GAAP
FYE Mar 2021	1,767	−14.8%	Cons. · Japanese GAAP
FYE Mar 2022	1,923	+8.8%	Cons. · Japanese GAAP
FYE Mar 2023	1,984	+3.2%	Cons. · Japanese GAAP
FYE Mar 2024	2,325	+17.2%	Cons. · Japanese GAAP
FYE Mar 2025	2,620	+12.7%	Cons. · Japanese GAAP
FYE Mar 2026	2,586	−1.3%	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 ¥2.22tn

CAGR · 10 yrs +3.4%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,648	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,666	+1.1%	Cons. · Japanese GAAP
FYE Mar 2019	1,786	+7.2%	Cons. · Japanese GAAP
FYE Mar 2020	1,817	+1.8%	Cons. · Japanese GAAP
FYE Mar 2021	1,541	−15.2%	Cons. · Japanese GAAP
FYE Mar 2022	1,769	+14.8%	Cons. · Japanese GAAP
FYE Mar 2023	1,767	−0.1%	Cons. · Japanese GAAP
FYE Mar 2024	2,106	+19.1%	Cons. · Japanese GAAP
FYE Mar 2025	2,322	+10.3%	Cons. · Japanese GAAP
FYE Mar 2026	2,222	−4.3%	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 ¥365bn

CAGR · 10 yrs +5.5%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	225	n/a	Cons. · Japanese GAAP
FYE Mar 2018	234	+4.2%	Cons. · Japanese GAAP
FYE Mar 2019	254	+8.4%	Cons. · Japanese GAAP
FYE Mar 2020	256	+0.6%	Cons. · Japanese GAAP
FYE Mar 2021	226	−11.6%	Cons. · Japanese GAAP
FYE Mar 2022	154	−31.6%	Cons. · Japanese GAAP
FYE Mar 2023	217	+40.3%	Cons. · Japanese GAAP
FYE Mar 2024	220	+1.4%	Cons. · Japanese GAAP
FYE Mar 2025	298	+35.6%	Cons. · Japanese GAAP
FYE Mar 2026	365	+22.4%	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 ¥170bn

CAGR · 10 yrs +7.2%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	91.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	96.5	+5.8%	Cons. · Japanese GAAP
FYE Mar 2019	98.5	+2.1%	Cons. · Japanese GAAP
FYE Mar 2020	103	+4.2%	Cons. · Japanese GAAP
FYE Mar 2021	103	−0.1%	Cons. · Japanese GAAP
FYE Mar 2022	113	+10.4%	Cons. · Japanese GAAP
FYE Mar 2023	123	+8.4%	Cons. · Japanese GAAP
FYE Mar 2024	140	+14.2%	Cons. · Japanese GAAP
FYE Mar 2025	154	+10.1%	Cons. · Japanese GAAP
FYE Mar 2026	170	+10.1%	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 ¥195bn

CAGR · 10 yrs +4.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	134	n/a	Cons. · Japanese GAAP
FYE Mar 2018	138	+3.0%	Cons. · Japanese GAAP
FYE Mar 2019	155	+12.8%	Cons. · Japanese GAAP
FYE Mar 2020	153	−1.7%	Cons. · Japanese GAAP
FYE Mar 2021	123	−19.4%	Cons. · Japanese GAAP
FYE Mar 2022	41.1	−66.7%	Cons. · Japanese GAAP
FYE Mar 2023	93.8	+128.5%	Cons. · Japanese GAAP
FYE Mar 2024	79.4	−15.4%	Cons. · Japanese GAAP
FYE Mar 2025	143	+80.7%	Cons. · Japanese GAAP
FYE Mar 2026	195	+35.7%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥19bn

CAGR · 10 yrs +7.9%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	9.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.1	+3.9%	Cons. · Japanese GAAP
FYE Mar 2019	10.8	+6.9%	Cons. · Japanese GAAP
FYE Mar 2020	11.1	+2.9%	Cons. · Japanese GAAP
FYE Mar 2021	8.9	−19.6%	Cons. · Japanese GAAP
FYE Mar 2022	11.8	+32.2%	Cons. · Japanese GAAP
FYE Mar 2023	11.4	−3.3%	Cons. · Japanese GAAP
FYE Mar 2024	16.7	+46.6%	Cons. · Japanese GAAP
FYE Mar 2025	16.0	−4.4%	Cons. · Japanese GAAP
FYE Mar 2026	19.3	+20.8%	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 ¥9.8bn

CAGR · 10 yrs +12.7%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.9	+17.7%	Cons. · Japanese GAAP
FYE Mar 2019	3.2	−18.5%	Cons. · Japanese GAAP
FYE Mar 2020	4.9	+54.7%	Cons. · Japanese GAAP
FYE Mar 2021	3.3	−33.6%	Cons. · Japanese GAAP
FYE Mar 2022	3.0	−9.4%	Cons. · Japanese GAAP
FYE Mar 2023	4.4	+47.4%	Cons. · Japanese GAAP
FYE Mar 2024	4.6	+4.0%	Cons. · Japanese GAAP
FYE Mar 2025	6.0	+32.1%	Cons. · Japanese GAAP
FYE Mar 2026	9.8	+62.2%	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 ¥204bn

CAGR · 10 yrs +4.3%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	140	n/a	Cons. · Japanese GAAP
FYE Mar 2018	144	+2.7%	Cons. · Japanese GAAP
FYE Mar 2019	163	+13.3%	Cons. · Japanese GAAP
FYE Mar 2020	159	−2.5%	Cons. · Japanese GAAP
FYE Mar 2021	129	−19.0%	Cons. · Japanese GAAP
FYE Mar 2022	49.8	−61.3%	Cons. · Japanese GAAP
FYE Mar 2023	101	+102.2%	Cons. · Japanese GAAP
FYE Mar 2024	91.5	−9.2%	Cons. · Japanese GAAP
FYE Mar 2025	153	+67.6%	Cons. · Japanese GAAP
FYE Mar 2026	204	+33.1%	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 ¥50bn

CAGR · 10 yrs +32.5%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	4.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.8	+70.7%	Cons. · Japanese GAAP
FYE Mar 2019	2.8	−57.9%	Cons. · Japanese GAAP
FYE Mar 2020	7.9	+177.6%	Cons. · Japanese GAAP
FYE Mar 2021	8.0	+1.1%	Cons. · Japanese GAAP
FYE Mar 2022	13.2	+64.6%	Cons. · Japanese GAAP
FYE Mar 2023	14.6	+11.3%	Cons. · Japanese GAAP
FYE Mar 2024	24.1	+64.9%	Cons. · Japanese GAAP
FYE Mar 2025	69.1	+186.2%	Cons. · Japanese GAAP
FYE Mar 2026	49.8	−27.8%	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 ¥174bn

CAGR · 10 yrs +7.0%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	94.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	92.7	−1.9%	Cons. · Japanese GAAP
FYE Mar 2019	113	+22.1%	Cons. · Japanese GAAP
FYE Mar 2020	113	−0.1%	Cons. · Japanese GAAP
FYE Mar 2021	98.8	−12.7%	Cons. · Japanese GAAP
FYE Mar 2022	39.1	−60.4%	Cons. · Japanese GAAP
FYE Mar 2023	77.7	+98.5%	Cons. · Japanese GAAP
FYE Mar 2024	75.1	−3.4%	Cons. · Japanese GAAP
FYE Mar 2025	146	+94.6%	Cons. · Japanese GAAP
FYE Mar 2026	174	+19.0%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 14.1%

Average · 10 yrs 11.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	12.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	12.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	12.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	12.8	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	8.0	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2023	10.9	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	9.4	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	11.4	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	14.1	+2.7pp	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 7.5%

Average · 10 yrs 6.0%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	7.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	7.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	7.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	2.1	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2023	4.7	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2024	3.4	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	5.5	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2026	7.5	+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 7.9%

Average · 10 yrs 6.3%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	8.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	7.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	7.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	2.6	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2023	5.1	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2024	3.9	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	5.9	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	7.9	+2.0pp	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 6.7%

Average · 10 yrs 4.8%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	5.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	5.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	5.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	2.0	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2023	3.9	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	3.2	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	5.6	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	6.7	+1.1pp	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 85.9%

Average · 10 yrs 88.4%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	88.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	87.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	87.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	87.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	87.2	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	92.0	+4.8pp	Cons. · Japanese GAAP
FYE Mar 2023	89.1	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	90.6	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	88.6	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	85.9	−2.7pp	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 6.6%

Average · 10 yrs 5.6%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	4.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	4.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	5.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	5.8	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2022	5.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	6.2	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	6.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	5.9	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	6.6	+0.7pp	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 ¥3.14tn

CAGR · 10 yrs +5.2%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	2,000	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,129	+6.5%	Cons. · Japanese GAAP
FYE Mar 2019	2,215	+4.0%	Cons. · Japanese GAAP
FYE Mar 2020	2,230	+0.7%	Cons. · Japanese GAAP
FYE Mar 2021	2,273	+1.9%	Cons. · Japanese GAAP
FYE Mar 2022	2,422	+6.6%	Cons. · Japanese GAAP
FYE Mar 2023	2,610	+7.8%	Cons. · Japanese GAAP
FYE Mar 2024	3,019	+15.7%	Cons. · Japanese GAAP
FYE Mar 2025	3,043	+0.8%	Cons. · Japanese GAAP
FYE Mar 2026	3,143	+3.3%	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 ¥1.26tn

CAGR · 10 yrs +8.7%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	594	n/a	Cons. · Japanese GAAP
FYE Mar 2018	685	+15.3%	Cons. · Japanese GAAP
FYE Mar 2019	769	+12.3%	Cons. · Japanese GAAP
FYE Mar 2020	818	+6.4%	Cons. · Japanese GAAP
FYE Mar 2021	931	+13.8%	Cons. · Japanese GAAP
FYE Mar 2022	956	+2.7%	Cons. · Japanese GAAP
FYE Mar 2023	997	+4.3%	Cons. · Japanese GAAP
FYE Mar 2024	1,152	+15.5%	Cons. · Japanese GAAP
FYE Mar 2025	1,158	+0.6%	Cons. · Japanese GAAP
FYE Mar 2026	1,258	+8.6%	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 ¥220bn

CAGR · 10 yrs +4.7%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	145	n/a	Cons. · Japanese GAAP
FYE Mar 2018	155	+6.5%	Cons. · Japanese GAAP
FYE Mar 2019	143	−7.5%	Cons. · Japanese GAAP
FYE Mar 2020	133	−7.1%	Cons. · Japanese GAAP
FYE Mar 2021	156	+17.6%	Cons. · Japanese GAAP
FYE Mar 2022	157	+0.7%	Cons. · Japanese GAAP
FYE Mar 2023	191	+21.5%	Cons. · Japanese GAAP
FYE Mar 2024	200	+4.4%	Cons. · Japanese GAAP
FYE Mar 2025	225	+12.8%	Cons. · Japanese GAAP
FYE Mar 2026	220	−2.5%	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 ¥75bn

CAGR · 10 yrs −5.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	121	n/a	Cons. · Japanese GAAP
FYE Mar 2018	108	−10.8%	Cons. · Japanese GAAP
FYE Mar 2019	78.8	−27.2%	Cons. · Japanese GAAP
FYE Mar 2020	63.3	−19.7%	Cons. · Japanese GAAP
FYE Mar 2021	62.1	−1.9%	Cons. · Japanese GAAP
FYE Mar 2022	77.2	+24.4%	Cons. · Japanese GAAP
FYE Mar 2023	95.8	+24.1%	Cons. · Japanese GAAP
FYE Mar 2024	86.4	−9.8%	Cons. · Japanese GAAP
FYE Mar 2025	107	+23.9%	Cons. · Japanese GAAP
FYE Mar 2026	75.2	−29.7%	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 ¥144bn

CAGR · 10 yrs +1.9%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	122	n/a	Cons. · Japanese GAAP
FYE Mar 2018	148	+21.7%	Cons. · Japanese GAAP
FYE Mar 2019	163	+10.1%	Cons. · Japanese GAAP
FYE Mar 2020	146	−10.6%	Cons. · Japanese GAAP
FYE Mar 2021	164	+12.2%	Cons. · Japanese GAAP
FYE Mar 2022	164	−0.2%	Cons. · Japanese GAAP
FYE Mar 2023	192	+17.5%	Cons. · Japanese GAAP
FYE Mar 2024	197	+2.7%	Cons. · Japanese GAAP
FYE Mar 2025	196	−0.9%	Cons. · Japanese GAAP
FYE Mar 2026	144	−26.2%	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 +9.1%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	30.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.0	−33.3%	Cons. · Japanese GAAP
FYE Mar 2019	30.0	+50.0%	Cons. · Japanese GAAP
FYE Mar 2020	40.0	+33.3%	Cons. · Japanese GAAP
FYE Mar 2021	40.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	40.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	50.0	+25.0%	Cons. · Japanese GAAP
FYE Mar 2024	40.1	−19.8%	Cons. · Japanese GAAP
FYE Mar 2025	60.1	+49.8%	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 ¥63bn

CAGR · 10 yrs +28.6%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	6.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.0	−23.2%	Cons. · Japanese GAAP
FYE Mar 2019	5.0	−0.8%	Cons. · Japanese GAAP
FYE Mar 2020	6.4	+27.4%	Cons. · Japanese GAAP
FYE Mar 2021	6.4	+1.1%	Cons. · Japanese GAAP
FYE Mar 2022	8.6	+34.3%	Cons. · Japanese GAAP
FYE Mar 2023	17.9	+107.4%	Cons. · Japanese GAAP
FYE Mar 2024	38.5	+114.9%	Cons. · Japanese GAAP
FYE Mar 2025	37.1	−3.7%	Cons. · Japanese GAAP
FYE Mar 2026	63.1	+70.0%	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 ¥23bn

CAGR · 9 yrs +58.4%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.4	−39.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−61.3%	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2022	1.2	+74.0%	Cons. · Japanese GAAP
FYE Mar 2023	5.0	+307.1%	Cons. · Japanese GAAP
FYE Mar 2024	15.9	+215.6%	Cons. · Japanese GAAP
FYE Mar 2025	13.0	−18.2%	Cons. · Japanese GAAP
FYE Mar 2026	23.0	+76.9%	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 40.0%

Average · 10 yrs 36.8%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	29.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.2	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2019	34.7	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2020	36.7	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	41.0	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2022	39.5	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	38.2	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2024	38.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	38.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	40.0	+2.0pp	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 17.4%

Average · 10 yrs 18.9%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	24.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.6	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2019	18.6	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2020	16.3	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2021	16.8	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	16.5	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	19.2	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2024	17.3	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	19.4	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2026	17.4	−2.0pp	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 13.8%

Average · 10 yrs 11.3%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	15.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.5	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2019	14.7	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	13.8	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	10.6	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2022	4.1	−6.5pp	Cons. · Japanese GAAP
FYE Mar 2023	7.8	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2024	6.5	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	12.6	+6.1pp	Cons. · Japanese GAAP
FYE Mar 2026	13.8	+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 5.5%

Average · 10 yrs 4.1%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	4.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	5.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	5.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	4.3	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	1.6	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2023	3.0	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	2.5	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	4.8	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	5.5	+0.7pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.82×

CAGR · 10 yrs −1.4%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.94	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.89	−4.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.92	+3.2%	Cons. · Japanese GAAP
FYE Mar 2020	0.93	+0.9%	Cons. · Japanese GAAP
FYE Mar 2021	0.78	−16.4%	Cons. · Japanese GAAP
FYE Mar 2022	0.79	+2.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.76	−4.3%	Cons. · Japanese GAAP
FYE Mar 2024	0.77	+1.3%	Cons. · Japanese GAAP
FYE Mar 2025	0.86	+11.8%	Cons. · Japanese GAAP
FYE Mar 2026	0.82	−4.5%	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 ¥253bn

CAGR · 10 yrs +5.3%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	159	n/a	Cons. · Japanese GAAP
FYE Mar 2018	114	−28.2%	Cons. · Japanese GAAP
FYE Mar 2019	44.2	−61.2%	Cons. · Japanese GAAP
FYE Mar 2020	238	+437.6%	Cons. · Japanese GAAP
FYE Mar 2021	24.8	−89.6%	Cons. · Japanese GAAP
FYE Mar 2022	69.7	+181.0%	Cons. · Japanese GAAP
FYE Mar 2023	228	+227.8%	Cons. · Japanese GAAP
FYE Mar 2024	50.4	−77.9%	Cons. · Japanese GAAP
FYE Mar 2025	85.6	+69.9%	Cons. · Japanese GAAP
FYE Mar 2026	253	+195.4%	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 -¥84bn

Average · 10 yrs -¥59bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-37.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-71.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-45.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-47.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-79.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-49.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-102	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-84.5	n/a	Cons. · Japanese GAAP
FYE Mar 2025	9.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-84.4	−979.1%	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 -¥141bn

Average · 10 yrs -¥46bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-89.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-54.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-24.8	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-49.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-8.5	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-12.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	22.1	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-51.9	−334.7%	Cons. · Japanese GAAP
FYE Mar 2025	-50.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-141	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 ¥416bn

CAGR · 10 yrs +8.8%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	194	n/a	Cons. · Japanese GAAP
FYE Mar 2018	185	−4.8%	Cons. · Japanese GAAP
FYE Mar 2019	158	−14.7%	Cons. · Japanese GAAP
FYE Mar 2020	299	+89.6%	Cons. · Japanese GAAP
FYE Mar 2021	236	−20.9%	Cons. · Japanese GAAP
FYE Mar 2022	249	+5.4%	Cons. · Japanese GAAP
FYE Mar 2023	406	+62.7%	Cons. · Japanese GAAP
FYE Mar 2024	327	−19.5%	Cons. · Japanese GAAP
FYE Mar 2025	380	+16.4%	Cons. · Japanese GAAP
FYE Mar 2026	416	+9.4%	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 ¥169bn

CAGR · 10 yrs +3.8%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	121	n/a	Cons. · Japanese GAAP
FYE Mar 2018	42.7	−64.7%	Cons. · Japanese GAAP
FYE Mar 2019	-1.1	−102.6%	Cons. · Japanese GAAP
FYE Mar 2020	190	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-54.3	−128.5%	Cons. · Japanese GAAP
FYE Mar 2022	19.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	127	+538.6%	Cons. · Japanese GAAP
FYE Mar 2024	-34.1	−126.9%	Cons. · Japanese GAAP
FYE Mar 2025	95.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	169	+77.0%	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 9.8%

Average · 10 yrs 6.0%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	8.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.0	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2019	2.2	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2020	11.5	+9.3pp	Cons. · Japanese GAAP
FYE Mar 2021	1.4	−10.1pp	Cons. · Japanese GAAP
FYE Mar 2022	3.6	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2023	11.5	+7.9pp	Cons. · Japanese GAAP
FYE Mar 2024	2.2	−9.3pp	Cons. · Japanese GAAP
FYE Mar 2025	3.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	9.8	+6.5pp	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 ¥197bn

CAGR · 10 yrs +16.7%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	48.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.1	−38.5%	Cons. · Japanese GAAP
FYE Mar 2019	14.6	−51.3%	Cons. · Japanese GAAP
FYE Mar 2020	166	+1034.1%	Cons. · Japanese GAAP
FYE Mar 2021	80.1	−51.7%	Cons. · Japanese GAAP
FYE Mar 2022	91.9	+14.8%	Cons. · Japanese GAAP
FYE Mar 2023	214	+133.2%	Cons. · Japanese GAAP
FYE Mar 2024	127	−40.8%	Cons. · Japanese GAAP
FYE Mar 2025	155	+22.0%	Cons. · Japanese GAAP
FYE Mar 2026	197	+26.8%	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 ¥2.61tn

Change · 10 yrs +¥1.86tn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	750	n/a
FYE Mar 2018	838	n/a
FYE Mar 2019	808	n/a
FYE Mar 2020	671	n/a
FYE Mar 2021	735	n/a
FYE Mar 2022	649	n/a
FYE Mar 2023	735	n/a
FYE Mar 2024	1,345	n/a
FYE Mar 2025	1,435	n/a
FYE Mar 2026	2,606	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 3,766¥

Change · 10 yrs +2,726¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,040	n/a
FYE Mar 2018	1,162	n/a
FYE Mar 2019	1,119	n/a
FYE Mar 2020	930	n/a
FYE Mar 2021	1,019	n/a
FYE Mar 2022	900	n/a
FYE Mar 2023	1,018	n/a
FYE Mar 2024	1,863	n/a
FYE Mar 2025	1,989	n/a
FYE Mar 2026	3,766	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 691,811,000shares

Change · 10 yrs −29,698,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	721,509,000	Parent
FYE Mar 2018	721,509,000	Parent
FYE Mar 2019	721,509,000	Parent
FYE Mar 2020	721,509,000	Parent
FYE Mar 2021	721,509,000	Parent
FYE Mar 2022	721,509,000	Parent
FYE Mar 2023	721,509,000	Parent
FYE Mar 2024	721,509,000	Parent
FYE Mar 2025	721,509,000	Parent
FYE Mar 2026	691,811,000	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 249.42¥

Change · 10 yrs +117.76¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	131.66	Cons.
FYE Mar 2018	129.09	Cons.
FYE Mar 2019	157.65	Cons.
FYE Mar 2020	157.59	Cons.
FYE Mar 2021	137.64	Cons.
FYE Mar 2022	54.55	Cons.
FYE Mar 2023	108.34	Cons.
FYE Mar 2024	104.69	Cons.
FYE Mar 2025	202.91	Cons.
FYE Mar 2026	249.42	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 1,819.03¥

Change · 10 yrs +995.53¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	823.50	Cons. · Japanese GAAP
FYE Mar 2018	949.17	Cons. · Japanese GAAP
FYE Mar 2019	1,065.75	Cons. · Japanese GAAP
FYE Mar 2020	1,133.59	Cons. · Japanese GAAP
FYE Mar 2021	1,290.36	Cons. · Japanese GAAP
FYE Mar 2022	1,324.57	Cons. · Japanese GAAP
FYE Mar 2023	1,381.98	Cons. · Japanese GAAP
FYE Mar 2024	1,596.14	Cons. · Japanese GAAP
FYE Mar 2025	1,605.31	Cons. · Japanese GAAP
FYE Mar 2026	1,819.03	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 15.10×

Average · 10 yrs 10.59×

Fiscal year	PER ×	Basis
FYE Mar 2017	7.90	Cons.
FYE Mar 2018	9.00	Cons.
FYE Mar 2019	7.10	Cons.
FYE Mar 2020	5.90	Cons.
FYE Mar 2021	7.40	Cons.
FYE Mar 2022	16.50	Cons.
FYE Mar 2023	9.40	Cons.
FYE Mar 2024	17.80	Cons.
FYE Mar 2025	9.80	Cons.
FYE Mar 2026	15.10	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 2.06×

Average · 10 yrs 1.10×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.26	Cons.
FYE Mar 2018	1.22	Cons.
FYE Mar 2019	1.04	Cons.
FYE Mar 2020	0.82	Cons.
FYE Mar 2021	0.79	Cons.
FYE Mar 2022	0.68	Cons.
FYE Mar 2023	0.73	Cons.
FYE Mar 2024	1.16	Cons.
FYE Mar 2025	1.22	Cons.
FYE Mar 2026	2.06	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 18,031people

Change · 10 yrs +3,937 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	14,094	n/a	Cons.
FYE Mar 2018	14,359	+1.9%	Cons.
FYE Mar 2019	14,739	+2.6%	Cons.
FYE Mar 2020	14,993	+1.7%	Cons.
FYE Mar 2021	15,267	+1.8%	Cons.
FYE Mar 2022	15,470	+1.3%	Cons.
FYE Mar 2023	15,876	+2.6%	Cons.
FYE Mar 2024	16,986	+7.0%	Cons.
FYE Mar 2025	17,305	+1.9%	Cons.
FYE Mar 2026	18,031	+4.2%	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 9,472people

Change · 10 yrs +948 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	8,524	n/a	Parent
FYE Mar 2018	8,609	+1.0%	Parent
FYE Mar 2019	8,753	+1.7%	Parent
FYE Mar 2020	8,829	+0.9%	Parent
FYE Mar 2021	8,918	+1.0%	Parent
FYE Mar 2022	9,026	+1.2%	Parent
FYE Mar 2023	9,134	+1.2%	Parent
FYE Mar 2024	9,253	+1.3%	Parent
FYE Mar 2025	9,386	+1.4%	Parent
FYE Mar 2026	9,472	+0.9%	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 ¥12.4m

Change · 10 yrs +¥2.9m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	9.5	n/a	Parent
FYE Mar 2018	10.5	+10.0%	Parent
FYE Mar 2019	10.5	+0.6%	Parent
FYE Mar 2020	10.6	+0.5%	Parent
FYE Mar 2021	10.3	−2.4%	Parent
FYE Mar 2022	10.2	−0.7%	Parent
FYE Mar 2023	10.3	+0.6%	Parent
FYE Mar 2024	10.7	+3.3%	Parent
FYE Mar 2025	11.4	+7.0%	Parent
FYE Mar 2026	12.4	+8.7%	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 42.0years

Change · 8 yrs −0.5 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	42.5	n/a	Parent
FYE Mar 2020	42.6	+0.2%	Parent
FYE Mar 2021	42.6	−0.0%	Parent
FYE Mar 2022	42.6	−0.0%	Parent
FYE Mar 2023	42.7	+0.2%	Parent
FYE Mar 2024	42.6	−0.2%	Parent
FYE Mar 2025	42.4	−0.5%	Parent
FYE Mar 2026	42.0	−0.9%	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 15.9years

Change · 10 yrs −1.2 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	17.1	n/a	Parent
FYE Mar 2018	17.2	+0.6%	Parent
FYE Mar 2019	17.2	−0.0%	Parent
FYE Mar 2020	17.2	−0.0%	Parent
FYE Mar 2021	17.1	−0.6%	Parent
FYE Mar 2022	17.0	−0.6%	Parent
FYE Mar 2023	17.0	−0.0%	Parent
FYE Mar 2024	16.7	−1.8%	Parent
FYE Mar 2025	16.4	−1.8%	Parent
FYE Mar 2026	15.9	−3.0%	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 3,598people

Change · 10 yrs −833 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	4,431	n/a	n/a
FYE Mar 2018	4,393	−0.9%	n/a
FYE Mar 2019	4,093	−6.8%	n/a
FYE Mar 2020	3,886	−5.1%	n/a
FYE Mar 2021	3,791	−2.4%	n/a
FYE Mar 2022	3,497	−7.8%	n/a
FYE Mar 2023	3,381	−3.3%	n/a
FYE Mar 2024	3,774	+11.6%	n/a
FYE Mar 2025	3,441	−8.8%	n/a
FYE Mar 2026	3,598	+4.6%	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 ¥143m

Change · 10 yrs +¥10.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	133	n/a	Cons.
FYE Mar 2018	132	−0.4%	Cons.
FYE Mar 2019	138	+4.5%	Cons.
FYE Mar 2020	138	−0.1%	Cons.
FYE Mar 2021	116	−16.3%	Cons.
FYE Mar 2022	124	+7.4%	Cons.
FYE Mar 2023	125	+0.5%	Cons.
FYE Mar 2024	137	+9.5%	Cons.
FYE Mar 2025	151	+10.6%	Cons.
FYE Mar 2026	143	−5.3%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥10.8m

Change · 10 yrs +¥1.3m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	9.5	n/a	Cons.
FYE Mar 2018	9.6	+1.1%	Cons.
FYE Mar 2019	10.5	+9.9%	Cons.
FYE Mar 2020	10.2	−3.3%	Cons.
FYE Mar 2021	8.1	−20.9%	Cons.
FYE Mar 2022	2.7	−67.1%	Cons.
FYE Mar 2023	5.9	+122.7%	Cons.
FYE Mar 2024	4.7	−20.9%	Cons.
FYE Mar 2025	8.3	+77.4%	Cons.
FYE Mar 2026	10.8	+30.3%	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 →

Data API

Obayashi’s history, presidents and financials are published as static JSON — no key, plain GET. One API per public page, and one per section where a page carries several tables. Full specification →

/api/1802/company.json ·/api/1802/history.json ·/api/1802/ceo.json ·/api/1802/financials.json ·/api/1802/financials/segment.json ·/api/1802/financials/pl.json ·/api/1802/financials/cf.json ·/api/1802/financials/bs.json ·/api/1802/financials/employee.json ·/api/1802/financials/stock.json ·/api/1802/financials.csv ·/api/1802/financials_history.csv

/api/companies.json ·/api/decisions.json ·/api/api-manifest.json