Financials

Shimizu: FYE Mar 2026 and ten years of results (52 metrics)

FYE Mar 2026 · Revenue¥2.06tnYoY +5.8%

FYE Mar 2026 · Operating profit¥119bnYoY +67.1%

FYE Mar 2026 · Net profit¥127bnYoY +91.8%

FYE Mar 2026 · Equity ratio36.8%YoY +2.8pp

FYE Mar 2026 · Group employees22,278YoY +992

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.57tn	n/a	¥129bn	n/a	8.2%	¥99bn	Miyamoto Yoichi	—
FYE Mar 2018Consolidated	¥1.52tn	−3.1%	¥121bn	−5.8%	8.0%	¥85bn	Inoue Kazuyuki	—
FYE Mar 2019Consolidated	¥1.66tn	+9.6%	¥130bn	+6.9%	7.8%	¥100bn	Inoue Kazuyuki	—
FYE Mar 2020Consolidated	¥1.70tn	+2.0%	¥134bn	+3.2%	7.9%	¥99bn	Inoue Kazuyuki	—
FYE Mar 2021Consolidated	¥1.46tn	−14.2%	¥100bn	−25.2%	6.9%	¥77bn	Inoue Kazuyuki	Shimizu North America established to head the North American business
FYE Mar 2022Consolidated	¥1.48tn	+1.8%	¥45bn	−54.9%	3.0%	¥48bn	Inoue Kazuyuki	—
FYE Mar 2023Consolidated	¥1.93tn	+30.4%	¥55bn	+21.0%	2.8%	¥49bn	Inoue Kazuyuki	Nippo Corporation taken over; the SEP vessel BLUE WIND completed
FYE Mar 2024Consolidated	¥2.01tn	+3.7%	-¥25bn	−145.2%	-1.2%	¥17bn	Inoue Kazuyuki	NOVARE opens at Shiomi, with Shibusawa Eiichi’s former residence restored
FYE Mar 2025Consolidated	¥1.94tn	−3.0%	¥71bn	n/a	3.7%	¥66bn	Inoue Kazuyuki	First operating loss since listing, ¥24.7bn
FYE Mar 2026Consolidated	¥2.06tn	+5.8%	¥119bn	+67.1%	5.8%	¥127bn	Inoue Kazuyuki	<a class="en-history_person" href="/tse/1803/executives/ceo/shinmura-tatsuya/" hreflang="ja">Shinmura Tatsuya</a> becomes the tenth president

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 ¥2.06tn

CAGR · 10 yrs +3.1%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,567	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,519	−3.1%	Cons. · Japanese GAAP
FYE Mar 2019	1,665	+9.6%	Cons. · Japanese GAAP
FYE Mar 2020	1,698	+2.0%	Cons. · Japanese GAAP
FYE Mar 2021	1,456	−14.2%	Cons. · Japanese GAAP
FYE Mar 2022	1,483	+1.8%	Cons. · Japanese GAAP
FYE Mar 2023	1,934	+30.4%	Cons. · Japanese GAAP
FYE Mar 2024	2,006	+3.7%	Cons. · Japanese GAAP
FYE Mar 2025	1,944	−3.0%	Cons. · Japanese GAAP
FYE Mar 2026	2,058	+5.8%	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 ¥1.80tn

CAGR · 10 yrs +3.2%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,358	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,316	−3.1%	Cons. · Japanese GAAP
FYE Mar 2019	1,448	+10.1%	Cons. · Japanese GAAP
FYE Mar 2020	1,473	+1.7%	Cons. · Japanese GAAP
FYE Mar 2021	1,266	−14.0%	Cons. · Japanese GAAP
FYE Mar 2022	1,343	+6.1%	Cons. · Japanese GAAP
FYE Mar 2023	1,773	+32.0%	Cons. · Japanese GAAP
FYE Mar 2024	1,916	+8.1%	Cons. · Japanese GAAP
FYE Mar 2025	1,749	−8.7%	Cons. · Japanese GAAP
FYE Mar 2026	1,800	+2.9%	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 ¥258bn

CAGR · 10 yrs +2.3%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	210	n/a	Cons. · Japanese GAAP
FYE Mar 2018	203	−3.0%	Cons. · Japanese GAAP
FYE Mar 2019	217	+6.5%	Cons. · Japanese GAAP
FYE Mar 2020	226	+4.2%	Cons. · Japanese GAAP
FYE Mar 2021	190	−15.6%	Cons. · Japanese GAAP
FYE Mar 2022	140	−26.6%	Cons. · Japanese GAAP
FYE Mar 2023	161	+15.3%	Cons. · Japanese GAAP
FYE Mar 2024	89.5	−44.4%	Cons. · Japanese GAAP
FYE Mar 2025	195	+118.4%	Cons. · Japanese GAAP
FYE Mar 2026	258	+32.0%	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 ¥139bn

CAGR · 10 yrs +6.3%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	80.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	82.0	+1.6%	Cons. · Japanese GAAP
FYE Mar 2019	86.9	+5.9%	Cons. · Japanese GAAP
FYE Mar 2020	91.8	+5.6%	Cons. · Japanese GAAP
FYE Mar 2021	90.3	−1.6%	Cons. · Japanese GAAP
FYE Mar 2022	94.5	+4.7%	Cons. · Japanese GAAP
FYE Mar 2023	106	+12.5%	Cons. · Japanese GAAP
FYE Mar 2024	114	+7.4%	Cons. · Japanese GAAP
FYE Mar 2025	124	+9.0%	Cons. · Japanese GAAP
FYE Mar 2026	139	+12.1%	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 ¥119bn

CAGR · 10 yrs −0.9%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	129	n/a	Cons. · Japanese GAAP
FYE Mar 2018	121	−5.8%	Cons. · Japanese GAAP
FYE Mar 2019	130	+6.9%	Cons. · Japanese GAAP
FYE Mar 2020	134	+3.2%	Cons. · Japanese GAAP
FYE Mar 2021	100	−25.2%	Cons. · Japanese GAAP
FYE Mar 2022	45.1	−54.9%	Cons. · Japanese GAAP
FYE Mar 2023	54.6	+21.0%	Cons. · Japanese GAAP
FYE Mar 2024	-24.7	−145.2%	Cons. · Japanese GAAP
FYE Mar 2025	71.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	119	+67.1%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥14bn

CAGR · 10 yrs +6.6%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	8.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.1	−0.8%	Cons. · Japanese GAAP
FYE Mar 2019	8.1	+0.9%	Cons. · Japanese GAAP
FYE Mar 2020	10.3	+26.1%	Cons. · Japanese GAAP
FYE Mar 2021	10.7	+4.4%	Cons. · Japanese GAAP
FYE Mar 2022	10.5	−2.1%	Cons. · Japanese GAAP
FYE Mar 2023	8.8	−16.3%	Cons. · Japanese GAAP
FYE Mar 2024	14.3	+62.8%	Cons. · Japanese GAAP
FYE Mar 2025	11.7	−18.1%	Cons. · Japanese GAAP
FYE Mar 2026	14.5	+23.7%	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 ¥11bn

CAGR · 10 yrs +7.2%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.3	−8.0%	Cons. · Japanese GAAP
FYE Mar 2019	3.9	−26.5%	Cons. · Japanese GAAP
FYE Mar 2020	6.2	+58.0%	Cons. · Japanese GAAP
FYE Mar 2021	5.4	−12.5%	Cons. · Japanese GAAP
FYE Mar 2022	5.2	−3.5%	Cons. · Japanese GAAP
FYE Mar 2023	6.9	+31.9%	Cons. · Japanese GAAP
FYE Mar 2024	9.4	+37.2%	Cons. · Japanese GAAP
FYE Mar 2025	11.1	+17.3%	Cons. · Japanese GAAP
FYE Mar 2026	10.8	−2.3%	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 ¥122bn

CAGR · 10 yrs −0.8%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	131	n/a	Cons. · Japanese GAAP
FYE Mar 2018	124	−5.4%	Cons. · Japanese GAAP
FYE Mar 2019	134	+7.9%	Cons. · Japanese GAAP
FYE Mar 2020	138	+3.0%	Cons. · Japanese GAAP
FYE Mar 2021	105	−23.6%	Cons. · Japanese GAAP
FYE Mar 2022	50.4	−52.2%	Cons. · Japanese GAAP
FYE Mar 2023	56.5	+12.2%	Cons. · Japanese GAAP
FYE Mar 2024	-19.8	−135.1%	Cons. · Japanese GAAP
FYE Mar 2025	71.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	122	+70.7%	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 ¥96bn

CAGR · 10 yrs +35.9%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	6.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.3	+2.8%	Cons. · Japanese GAAP
FYE Mar 2019	9.3	+49.4%	Cons. · Japanese GAAP
FYE Mar 2020	7.6	−18.9%	Cons. · Japanese GAAP
FYE Mar 2021	16.1	+112.4%	Cons. · Japanese GAAP
FYE Mar 2022	16.5	+2.3%	Cons. · Japanese GAAP
FYE Mar 2023	19.4	+17.5%	Cons. · Japanese GAAP
FYE Mar 2024	56.1	+189.9%	Cons. · Japanese GAAP
FYE Mar 2025	40.5	−27.7%	Cons. · Japanese GAAP
FYE Mar 2026	96.4	+137.8%	Cons. · Japanese GAAP

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

Extraordinary loss

FYE Mar 2026 n/a

CAGR · 6 yrs +24.5%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2017	0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.1	+1006.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−96.1%	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	10.7	n/a	Cons. · Japanese GAAP
FYE Mar 2022	2.2	−79.7%	Cons. · Japanese GAAP
FYE Mar 2023	0.6	−74.5%	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: One-off losses, such as an impairment or a restructuring charge
Formula: Extraordinary loss line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥127bn

CAGR · 10 yrs +2.8%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	98.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	85.0	−14.1%	Cons. · Japanese GAAP
FYE Mar 2019	99.7	+17.3%	Cons. · Japanese GAAP
FYE Mar 2020	99.0	−0.7%	Cons. · Japanese GAAP
FYE Mar 2021	77.2	−22.0%	Cons. · Japanese GAAP
FYE Mar 2022	47.8	−38.1%	Cons. · Japanese GAAP
FYE Mar 2023	49.1	+2.7%	Cons. · Japanese GAAP
FYE Mar 2024	17.2	−65.0%	Cons. · Japanese GAAP
FYE Mar 2025	66.0	+284.6%	Cons. · Japanese GAAP
FYE Mar 2026	127	+91.8%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 12.5%

Average · 10 yrs 11.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	13.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	13.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	13.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	13.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	9.4	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2023	8.3	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	4.5	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2025	10.1	+5.6pp	Cons. · Japanese GAAP
FYE Mar 2026	12.5	+2.5pp	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 5.8%

Average · 10 yrs 5.3%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	7.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	7.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	6.9	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	3.0	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2023	2.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	-1.2	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2025	3.7	+4.9pp	Cons. · Japanese GAAP
FYE Mar 2026	5.8	+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 5.9%

Average · 10 yrs 5.5%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	8.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	8.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	7.2	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2022	3.4	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2023	2.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2024	-1.0	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2025	3.7	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2026	5.9	+2.3pp	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 6.2%

Average · 10 yrs 4.5%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.6	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	6.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	5.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	5.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	3.2	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2023	2.5	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	0.9	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	3.4	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2026	6.2	+2.8pp	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 87.5%

Average · 10 yrs 88.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	86.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	86.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	87.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	86.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	86.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	90.6	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2023	91.7	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	95.5	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2025	89.9	−5.6pp	Cons. · Japanese GAAP
FYE Mar 2026	87.5	−2.5pp	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 6.8%

Average · 10 yrs 5.8%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	5.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	5.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	5.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	6.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	6.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	5.5	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	5.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	6.4	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	6.8	+0.4pp	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 ¥2.65tn

CAGR · 10 yrs +5.2%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	1,688	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,781	+5.5%	Cons. · Japanese GAAP
FYE Mar 2019	1,861	+4.5%	Cons. · Japanese GAAP
FYE Mar 2020	1,905	+2.4%	Cons. · Japanese GAAP
FYE Mar 2021	1,909	+0.2%	Cons. · Japanese GAAP
FYE Mar 2022	2,128	+11.5%	Cons. · Japanese GAAP
FYE Mar 2023	2,448	+15.0%	Cons. · Japanese GAAP
FYE Mar 2024	2,539	+3.7%	Cons. · Japanese GAAP
FYE Mar 2025	2,524	−0.6%	Cons. · Japanese GAAP
FYE Mar 2026	2,654	+5.2%	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 ¥978bn

CAGR · 10 yrs +6.1%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	572	n/a	Cons. · Japanese GAAP
FYE Mar 2018	651	+13.8%	Cons. · Japanese GAAP
FYE Mar 2019	729	+12.1%	Cons. · Japanese GAAP
FYE Mar 2020	730	+0.1%	Cons. · Japanese GAAP
FYE Mar 2021	815	+11.6%	Cons. · Japanese GAAP
FYE Mar 2022	824	+1.1%	Cons. · Japanese GAAP
FYE Mar 2023	853	+3.4%	Cons. · Japanese GAAP
FYE Mar 2024	889	+4.2%	Cons. · Japanese GAAP
FYE Mar 2025	860	−3.2%	Cons. · Japanese GAAP
FYE Mar 2026	978	+13.7%	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 ¥366bn

CAGR · 10 yrs +7.8%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	186	n/a	Cons. · Japanese GAAP
FYE Mar 2018	182	−2.0%	Cons. · Japanese GAAP
FYE Mar 2019	171	−6.2%	Cons. · Japanese GAAP
FYE Mar 2020	183	+7.3%	Cons. · Japanese GAAP
FYE Mar 2021	215	+17.4%	Cons. · Japanese GAAP
FYE Mar 2022	231	+7.2%	Cons. · Japanese GAAP
FYE Mar 2023	360	+56.3%	Cons. · Japanese GAAP
FYE Mar 2024	374	+3.8%	Cons. · Japanese GAAP
FYE Mar 2025	376	+0.5%	Cons. · Japanese GAAP
FYE Mar 2026	366	−2.6%	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 ¥237bn

CAGR · 10 yrs +7.1%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	128	n/a	Cons. · Japanese GAAP
FYE Mar 2018	148	+15.1%	Cons. · Japanese GAAP
FYE Mar 2019	149	+1.2%	Cons. · Japanese GAAP
FYE Mar 2020	243	+62.2%	Cons. · Japanese GAAP
FYE Mar 2021	152	−37.5%	Cons. · Japanese GAAP
FYE Mar 2022	203	+34.0%	Cons. · Japanese GAAP
FYE Mar 2023	234	+15.2%	Cons. · Japanese GAAP
FYE Mar 2024	293	+25.2%	Cons. · Japanese GAAP
FYE Mar 2025	302	+3.2%	Cons. · Japanese GAAP
FYE Mar 2026	237	−21.5%	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 ¥129bn

CAGR · 10 yrs +2.8%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	101	n/a	Cons. · Japanese GAAP
FYE Mar 2018	86.4	−14.4%	Cons. · Japanese GAAP
FYE Mar 2019	86.7	+0.3%	Cons. · Japanese GAAP
FYE Mar 2020	116	+33.3%	Cons. · Japanese GAAP
FYE Mar 2021	138	+19.3%	Cons. · Japanese GAAP
FYE Mar 2022	174	+26.0%	Cons. · Japanese GAAP
FYE Mar 2023	213	+22.7%	Cons. · Japanese GAAP
FYE Mar 2024	185	−13.2%	Cons. · Japanese GAAP
FYE Mar 2025	163	−12.0%	Cons. · Japanese GAAP
FYE Mar 2026	129	−20.9%	Cons. · Japanese GAAP

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

Bonds

FYE Mar 2026 n/a

CAGR · 9 yrs +3.6%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	94.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	104	+9.7%	Cons. · Japanese GAAP
FYE Mar 2019	83.2	−20.1%	Cons. · Japanese GAAP
FYE Mar 2020	83.2	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	122	+46.5%	Cons. · Japanese GAAP
FYE Mar 2022	132	+8.2%	Cons. · Japanese GAAP
FYE Mar 2023	130	−1.5%	Cons. · Japanese GAAP
FYE Mar 2024	125	−3.8%	Cons. · Japanese GAAP
FYE Mar 2025	126	+0.8%	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 ¥42bn

CAGR · 10 yrs +27.9%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	4.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.1	+32.9%	Cons. · Japanese GAAP
FYE Mar 2019	7.9	+30.7%	Cons. · Japanese GAAP
FYE Mar 2020	12.1	+52.1%	Cons. · Japanese GAAP
FYE Mar 2021	19.1	+58.3%	Cons. · Japanese GAAP
FYE Mar 2022	21.1	+10.1%	Cons. · Japanese GAAP
FYE Mar 2023	21.5	+1.9%	Cons. · Japanese GAAP
FYE Mar 2024	22.2	+3.5%	Cons. · Japanese GAAP
FYE Mar 2025	34.0	+53.2%	Cons. · Japanese GAAP
FYE Mar 2026	42.0	+23.4%	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 n/a

Average · 9 yrs ¥0.0m

Fiscal year	Goodwill ¥ m	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	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 36.8%

Average · 10 yrs 37.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	33.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.5	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2019	39.2	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2020	38.3	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	42.7	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2022	38.7	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2023	34.8	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2024	35.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	34.1	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	36.8	+2.8pp	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 37.5%

Average · 10 yrs 32.9%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	32.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	28.0	−4.5pp	Cons. · Japanese GAAP
FYE Mar 2019	23.4	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2020	25.1	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	26.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	28.0	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2023	42.3	+14.3pp	Cons. · Japanese GAAP
FYE Mar 2024	42.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	43.7	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	37.5	−6.3pp	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 12.9%

Average · 10 yrs 10.1%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	17.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.1	−4.2pp	Cons. · Japanese GAAP
FYE Mar 2019	13.7	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	13.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	9.5	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2022	5.8	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2023	5.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	1.9	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2025	7.7	+5.7pp	Cons. · Japanese GAAP
FYE Mar 2026	12.9	+5.3pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 4.8%

Average · 10 yrs 3.8%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	5.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.8	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	5.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	5.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	4.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2022	2.2	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2023	2.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	0.7	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	2.6	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	4.8	+2.2pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.78×

CAGR · 10 yrs −2.0%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.93	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.85	−8.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.89	+4.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.89	−0.4%	Cons. · Japanese GAAP
FYE Mar 2021	0.76	−14.4%	Cons. · Japanese GAAP
FYE Mar 2022	0.70	−8.7%	Cons. · Japanese GAAP
FYE Mar 2023	0.79	+13.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.79	−0.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.77	−2.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.78	+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 ¥42bn

CAGR · 10 yrs −12.9%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	144	n/a	Cons. · Japanese GAAP
FYE Mar 2018	82.9	−42.3%	Cons. · Japanese GAAP
FYE Mar 2019	-14.9	−118.0%	Cons. · Japanese GAAP
FYE Mar 2020	171	n/a	Cons. · Japanese GAAP
FYE Mar 2021	80.7	−52.7%	Cons. · Japanese GAAP
FYE Mar 2022	77.8	−3.6%	Cons. · Japanese GAAP
FYE Mar 2023	83.8	+7.8%	Cons. · Japanese GAAP
FYE Mar 2024	-21.3	−125.3%	Cons. · Japanese GAAP
FYE Mar 2025	159	n/a	Cons. · Japanese GAAP
FYE Mar 2026	41.6	−73.8%	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 -¥6.9bn

Average · 10 yrs -¥49bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-34.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-30.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-52.7	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-116	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-114	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-89.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-52.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2025	7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-6.9	−187.8%	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 -¥121bn

Average · 10 yrs -¥24bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-65.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-26.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-42.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	68.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-42.7	−162.1%	Cons. · Japanese GAAP
FYE Mar 2022	19.6	n/a	Cons. · Japanese GAAP
FYE Mar 2023	65.6	+234.3%	Cons. · Japanese GAAP
FYE Mar 2024	-24.0	−136.5%	Cons. · Japanese GAAP
FYE Mar 2025	-71.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-121	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 ¥354bn

CAGR · 10 yrs +1.3%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	316	n/a	Cons. · Japanese GAAP
FYE Mar 2018	341	+8.0%	Cons. · Japanese GAAP
FYE Mar 2019	230	−32.6%	Cons. · Japanese GAAP
FYE Mar 2020	353	+53.4%	Cons. · Japanese GAAP
FYE Mar 2021	276	−21.7%	Cons. · Japanese GAAP
FYE Mar 2022	287	+3.9%	Cons. · Japanese GAAP
FYE Mar 2023	387	+34.7%	Cons. · Japanese GAAP
FYE Mar 2024	339	−12.3%	Cons. · Japanese GAAP
FYE Mar 2025	438	+29.2%	Cons. · Japanese GAAP
FYE Mar 2026	354	−19.1%	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 ¥35bn

CAGR · 10 yrs −11.9%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	109	n/a	Cons. · Japanese GAAP
FYE Mar 2018	51.9	−52.4%	Cons. · Japanese GAAP
FYE Mar 2019	-67.6	−230.1%	Cons. · Japanese GAAP
FYE Mar 2020	54.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-33.3	−160.7%	Cons. · Japanese GAAP
FYE Mar 2022	-11.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	31.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-26.6	−184.7%	Cons. · Japanese GAAP
FYE Mar 2025	167	n/a	Cons. · Japanese GAAP
FYE Mar 2026	34.8	−79.2%	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 2.0%

Average · 10 yrs 4.8%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.5	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2019	-0.9	−6.4pp	Cons. · Japanese GAAP
FYE Mar 2020	10.0	+10.9pp	Cons. · Japanese GAAP
FYE Mar 2021	5.5	−4.5pp	Cons. · Japanese GAAP
FYE Mar 2022	5.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	4.3	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	-1.1	−5.4pp	Cons. · Japanese GAAP
FYE Mar 2025	8.2	+9.2pp	Cons. · Japanese GAAP
FYE Mar 2026	2.0	−6.2pp	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 -¥12bn

Average · 10 yrs ¥68bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	130	n/a	Cons. · Japanese GAAP
FYE Mar 2018	159	+22.4%	Cons. · Japanese GAAP
FYE Mar 2019	59.3	−62.7%	Cons. · Japanese GAAP
FYE Mar 2020	170	+186.1%	Cons. · Japanese GAAP
FYE Mar 2021	61.3	−63.9%	Cons. · Japanese GAAP
FYE Mar 2022	56.6	−7.7%	Cons. · Japanese GAAP
FYE Mar 2023	26.3	−53.5%	Cons. · Japanese GAAP
FYE Mar 2024	-34.8	−232.2%	Cons. · Japanese GAAP
FYE Mar 2025	62.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-11.8	−119.0%	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 ¥1.99tn

Change · 10 yrs +¥1.21tn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	786	n/a
FYE Mar 2018	752	n/a
FYE Mar 2019	761	n/a
FYE Mar 2020	668	n/a
FYE Mar 2021	710	n/a
FYE Mar 2022	581	n/a
FYE Mar 2023	591	n/a
FYE Mar 2024	743	n/a
FYE Mar 2025	951	n/a
FYE Mar 2026	1,993	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 2,782¥

Change · 10 yrs +1,785¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	996	n/a
FYE Mar 2018	953	n/a
FYE Mar 2019	966	n/a
FYE Mar 2020	847	n/a
FYE Mar 2021	900	n/a
FYE Mar 2022	737	n/a
FYE Mar 2023	749	n/a
FYE Mar 2024	999	n/a
FYE Mar 2025	1,327	n/a
FYE Mar 2026	2,782	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 716,689,413shares

Change · 10 yrs −71,825,200 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	788,514,613	Parent
FYE Mar 2018	788,514,613	Parent
FYE Mar 2019	788,514,613	Parent
FYE Mar 2020	788,514,613	Parent
FYE Mar 2021	788,514,613	Parent
FYE Mar 2022	788,514,613	Parent
FYE Mar 2023	788,514,613	Parent
FYE Mar 2024	743,676,313	Parent
FYE Mar 2025	716,689,413	Parent
FYE Mar 2026	716,689,413	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 186.68¥

Change · 10 yrs +60.57¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	126.11	Cons.
FYE Mar 2018	108.31	Cons.
FYE Mar 2019	127.04	Cons.
FYE Mar 2020	128.31	Cons.
FYE Mar 2021	101.17	Cons.
FYE Mar 2022	64.09	Cons.
FYE Mar 2023	66.29	Cons.
FYE Mar 2024	23.57	Cons.
FYE Mar 2025	94.80	Cons.
FYE Mar 2026	186.68	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 1,364.58¥

Change · 10 yrs +639.45¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	725.13	Cons. · Japanese GAAP
FYE Mar 2018	825.42	Cons. · Japanese GAAP
FYE Mar 2019	925.05	Cons. · Japanese GAAP
FYE Mar 2020	926.40	Cons. · Japanese GAAP
FYE Mar 2021	1,033.96	Cons. · Japanese GAAP
FYE Mar 2022	1,045.63	Cons. · Japanese GAAP
FYE Mar 2023	1,081.22	Cons. · Japanese GAAP
FYE Mar 2024	1,194.79	Cons. · Japanese GAAP
FYE Mar 2025	1,200.07	Cons. · Japanese GAAP
FYE Mar 2026	1,364.58	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 14.90×

Average · 10 yrs 13.39×

Fiscal year	PER ×	Basis
FYE Mar 2017	7.90	Cons.
FYE Mar 2018	8.80	Cons.
FYE Mar 2019	7.60	Cons.
FYE Mar 2020	6.60	Cons.
FYE Mar 2021	8.90	Cons.
FYE Mar 2022	11.50	Cons.
FYE Mar 2023	11.30	Cons.
FYE Mar 2024	42.40	Cons.
FYE Mar 2025	14.00	Cons.
FYE Mar 2026	14.90	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 1.93×

Average · 10 yrs 1.04×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.37	Cons.
FYE Mar 2018	1.15	Cons.
FYE Mar 2019	1.04	Cons.
FYE Mar 2020	0.88	Cons.
FYE Mar 2021	0.84	Cons.
FYE Mar 2022	0.66	Cons.
FYE Mar 2023	0.65	Cons.
FYE Mar 2024	0.80	Cons.
FYE Mar 2025	1.05	Cons.
FYE Mar 2026	1.93	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 22,278people

Change · 10 yrs +6,353 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	15,925	n/a	Cons.
FYE Mar 2018	16,024	+0.6%	Cons.
FYE Mar 2019	16,184	+1.0%	Cons.
FYE Mar 2020	16,297	+0.7%	Cons.
FYE Mar 2021	16,586	+1.8%	Cons.
FYE Mar 2022	19,661	+18.5%	Cons.
FYE Mar 2023	19,869	+1.1%	Cons.
FYE Mar 2024	20,515	+3.3%	Cons.
FYE Mar 2025	21,286	+3.8%	Cons.
FYE Mar 2026	22,278	+4.7%	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 11,434people

Change · 10 yrs +1,003 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	10,431	n/a	Parent
FYE Mar 2018	10,348	−0.8%	Parent
FYE Mar 2019	10,336	−0.1%	Parent
FYE Mar 2020	10,384	+0.5%	Parent
FYE Mar 2021	10,494	+1.1%	Parent
FYE Mar 2022	10,688	+1.8%	Parent
FYE Mar 2023	10,845	+1.5%	Parent
FYE Mar 2024	10,949	+1.0%	Parent
FYE Mar 2025	11,163	+2.0%	Parent
FYE Mar 2026	11,434	+2.4%	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 1,043万円

Change · 10 yrs +77万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	966	n/a	Parent
FYE Mar 2018	967	+0.1%	Parent
FYE Mar 2019	1,010	+4.4%	Parent
FYE Mar 2020	1,007	−0.3%	Parent
FYE Mar 2021	971	−3.5%	Parent
FYE Mar 2022	978	+0.7%	Parent
FYE Mar 2023	972	−0.6%	Parent
FYE Mar 2024	982	+1.1%	Parent
FYE Mar 2025	1,012	+3.0%	Parent
FYE Mar 2026	1,043	+3.1%	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 43.7years

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	42.9	−0.2%	Parent
FYE Mar 2021	42.8	−0.2%	Parent
FYE Mar 2022	43.1	+0.7%	Parent
FYE Mar 2023	43.4	+0.7%	Parent
FYE Mar 2024	43.6	+0.5%	Parent
FYE Mar 2025	43.7	+0.2%	Parent
FYE Mar 2026	43.7	−0.0%	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 16.1years

Change · 10 yrs −0.5 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	16.6	n/a	Parent
FYE Mar 2018	16.2	−2.4%	Parent
FYE Mar 2019	15.4	−4.9%	Parent
FYE Mar 2020	15.3	−0.6%	Parent
FYE Mar 2021	15.3	−0.0%	Parent
FYE Mar 2022	15.6	+2.0%	Parent
FYE Mar 2023	15.9	+1.9%	Parent
FYE Mar 2024	15.9	−0.0%	Parent
FYE Mar 2025	16.0	+0.6%	Parent
FYE Mar 2026	16.1	+0.6%	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 2,100people

Change · 10 yrs −892 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	2,992	n/a	n/a
FYE Mar 2018	2,708	−9.5%	n/a
FYE Mar 2019	2,315	−14.5%	n/a
FYE Mar 2020	2,178	−5.9%	n/a
FYE Mar 2021	2,308	+6.0%	n/a
FYE Mar 2022	2,625	+13.7%	n/a
FYE Mar 2023	2,640	+0.6%	n/a
FYE Mar 2024	2,388	−9.5%	n/a
FYE Mar 2025	2,129	−10.8%	n/a
FYE Mar 2026	2,100	−1.4%	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 ¥92.4m

Change · 10 yrs −¥6.1m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	98.4	n/a	Cons.
FYE Mar 2018	94.8	−3.7%	Cons.
FYE Mar 2019	103	+8.5%	Cons.
FYE Mar 2020	104	+1.3%	Cons.
FYE Mar 2021	87.8	−15.7%	Cons.
FYE Mar 2022	75.4	−14.1%	Cons.
FYE Mar 2023	97.3	+29.0%	Cons.
FYE Mar 2024	97.8	+0.4%	Cons.
FYE Mar 2025	91.3	−6.6%	Cons.
FYE Mar 2026	92.4	+1.1%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.3m

Change · 10 yrs −¥2.8m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	8.1	n/a	Cons.
FYE Mar 2018	7.6	−6.4%	Cons.
FYE Mar 2019	8.0	+5.8%	Cons.
FYE Mar 2020	8.2	+2.5%	Cons.
FYE Mar 2021	6.0	−26.5%	Cons.
FYE Mar 2022	2.3	−62.0%	Cons.
FYE Mar 2023	2.8	+19.8%	Cons.
FYE Mar 2024	-1.2	−143.7%	Cons.
FYE Mar 2025	3.3	n/a	Cons.
FYE Mar 2026	5.3	+59.6%	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

Shimizu’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/1803/company.json ·/api/1803/history.json ·/api/1803/ceo.json ·/api/1803/financials.json ·/api/1803/financials/segment.json ·/api/1803/financials/pl.json ·/api/1803/financials/cf.json ·/api/1803/financials/bs.json ·/api/1803/financials/employee.json ·/api/1803/financials/stock.json ·/api/1803/financials.csv ·/api/1803/financials_history.csv

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