Financials

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

FYE Mar 2026 · Revenue¥742bnYoY +10.4%

FYE Mar 2026 · Operating profit¥83bnYoY +42.5%

FYE Mar 2026 · Net profit¥64bnYoY +49.9%

FYE Mar 2026 · Equity ratio61.4%YoY +0.4pp

FYE Mar 2026 · Group employees10,850YoY +292

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥471bn	n/a	¥26bn	n/a	5.6%	¥18bn	Mizue Hiroshi	—
FYE Mar 2018Consolidated	¥507bn	+7.7%	¥29bn	+10.8%	5.8%	¥19bn	Morito Yoshimi	—
FYE Mar 2019Consolidated	¥564bn	+11.1%	¥30bn	+2.6%	5.3%	¥20bn	Morito Yoshimi	—
FYE Mar 2020Consolidated	¥616bn	+9.3%	¥35bn	+15.6%	5.6%	¥23bn	Morito Yoshimi	—
FYE Mar 2021Consolidated	¥556bn	−9.8%	¥30bn	−13.4%	5.4%	¥20bn	Morito Yoshimi	<a class="en-history_person" href="/tse/1942/executives/ceo/nakama-toshio/" hreflang="ja">Nakama Toshio</a> becomes 13th president
FYE Mar 2022Consolidated	¥496bn	−10.9%	¥31bn	+2.0%	6.2%	¥20bn	Nakama Toshio	—
FYE Mar 2023Consolidated	¥542bn	+9.3%	¥33bn	+6.9%	6.0%	¥21bn	Nakama Toshio	Moves to the TSE Prime market
FYE Mar 2024Consolidated	¥598bn	+10.5%	¥41bn	+25.0%	6.8%	¥27bn	Nakama Toshio	—
FYE Mar 2025Consolidated	¥672bn	+12.3%	¥58bn	+42.5%	8.7%	¥42bn	Nakama Toshio	Green Innovation division established
FYE Mar 2026Consolidated	¥742bn	+10.4%	¥83bn	+42.5%	11.2%	¥64bn	Nakama Toshio	Record profit; Milestone2030 plan; <a class="en-history_person" href="/tse/1942/executives/ceo/tamogami-hirofumi/" hreflang="ja">Tamogami Hirofumi</a> becomes president

How it compares

Kinden¥751bnFY2025Operating margin 12.0%

Kandenko¥742bnFY2025Operating margin 11.2%

Toenekku¥271bnFY2024Operating margin 5.9%

Yuatekku¥257bnFY2024Operating margin 6.3%

NIPPON DENSETSU KOGYO CO.,LTD.¥229bnFY2025Operating margin 10.3%

CHUDENKO CORPORATION¥228bnFY2025Operating margin 11.5%

Yondenkou¥106bnFY2024Operating margin 7.6%

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 ¥742bn

CAGR · 10 yrs +5.2%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	471	n/a	Cons. · Japanese GAAP
FYE Mar 2018	507	+7.7%	Cons. · Japanese GAAP
FYE Mar 2019	564	+11.1%	Cons. · Japanese GAAP
FYE Mar 2020	616	+9.3%	Cons. · Japanese GAAP
FYE Mar 2021	556	−9.8%	Cons. · Japanese GAAP
FYE Mar 2022	496	−10.9%	Cons. · Japanese GAAP
FYE Mar 2023	542	+9.3%	Cons. · Japanese GAAP
FYE Mar 2024	598	+10.5%	Cons. · Japanese GAAP
FYE Mar 2025	672	+12.3%	Cons. · Japanese GAAP
FYE Mar 2026	742	+10.4%	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 ¥621bn

CAGR · 10 yrs +4.4%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	421	n/a	Cons. · Japanese GAAP
FYE Mar 2018	453	+7.5%	Cons. · Japanese GAAP
FYE Mar 2019	508	+12.2%	Cons. · Japanese GAAP
FYE Mar 2020	555	+9.3%	Cons. · Japanese GAAP
FYE Mar 2021	501	−9.8%	Cons. · Japanese GAAP
FYE Mar 2022	439	−12.4%	Cons. · Japanese GAAP
FYE Mar 2023	481	+9.7%	Cons. · Japanese GAAP
FYE Mar 2024	527	+9.5%	Cons. · Japanese GAAP
FYE Mar 2025	579	+9.8%	Cons. · Japanese GAAP
FYE Mar 2026	621	+7.3%	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 ¥121bn

CAGR · 10 yrs +10.4%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	49.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	54.4	+9.3%	Cons. · Japanese GAAP
FYE Mar 2019	55.7	+2.4%	Cons. · Japanese GAAP
FYE Mar 2020	60.9	+9.4%	Cons. · Japanese GAAP
FYE Mar 2021	55.2	−9.5%	Cons. · Japanese GAAP
FYE Mar 2022	56.7	+2.8%	Cons. · Japanese GAAP
FYE Mar 2023	60.1	+6.0%	Cons. · Japanese GAAP
FYE Mar 2024	71.2	+18.4%	Cons. · Japanese GAAP
FYE Mar 2025	92.9	+30.5%	Cons. · Japanese GAAP
FYE Mar 2026	121	+29.9%	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 ¥38bn

CAGR · 10 yrs +5.4%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	23.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.1	+7.6%	Cons. · Japanese GAAP
FYE Mar 2019	25.7	+2.2%	Cons. · Japanese GAAP
FYE Mar 2020	26.2	+2.2%	Cons. · Japanese GAAP
FYE Mar 2021	25.1	−4.3%	Cons. · Japanese GAAP
FYE Mar 2022	26.1	+3.9%	Cons. · Japanese GAAP
FYE Mar 2023	27.4	+5.1%	Cons. · Japanese GAAP
FYE Mar 2024	30.3	+10.4%	Cons. · Japanese GAAP
FYE Mar 2025	34.6	+14.3%	Cons. · Japanese GAAP
FYE Mar 2026	37.6	+8.6%	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 ¥83bn

CAGR · 10 yrs +13.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	26.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.3	+10.8%	Cons. · Japanese GAAP
FYE Mar 2019	30.0	+2.6%	Cons. · Japanese GAAP
FYE Mar 2020	34.7	+15.6%	Cons. · Japanese GAAP
FYE Mar 2021	30.0	−13.4%	Cons. · Japanese GAAP
FYE Mar 2022	30.6	+2.0%	Cons. · Japanese GAAP
FYE Mar 2023	32.7	+6.9%	Cons. · Japanese GAAP
FYE Mar 2024	40.9	+25.0%	Cons. · Japanese GAAP
FYE Mar 2025	58.3	+42.5%	Cons. · Japanese GAAP
FYE Mar 2026	83.1	+42.5%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥2.6bn

CAGR · 10 yrs +7.1%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.3	−8.0%	Cons. · Japanese GAAP
FYE Mar 2019	1.2	−3.7%	Cons. · Japanese GAAP
FYE Mar 2020	1.3	+4.0%	Cons. · Japanese GAAP
FYE Mar 2021	1.4	+6.5%	Cons. · Japanese GAAP
FYE Mar 2022	1.5	+7.2%	Cons. · Japanese GAAP
FYE Mar 2023	1.6	+11.7%	Cons. · Japanese GAAP
FYE Mar 2024	2.1	+28.6%	Cons. · Japanese GAAP
FYE Mar 2025	1.9	−11.4%	Cons. · Japanese GAAP
FYE Mar 2026	2.6	+38.3%	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 ¥739m

CAGR · 10 yrs +5.8%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Mar 2017	446	n/a	Cons. · Japanese GAAP
FYE Mar 2018	512	+14.8%	Cons. · Japanese GAAP
FYE Mar 2019	452	−11.7%	Cons. · Japanese GAAP
FYE Mar 2020	413	−8.6%	Cons. · Japanese GAAP
FYE Mar 2021	366	−11.4%	Cons. · Japanese GAAP
FYE Mar 2022	355	−3.0%	Cons. · Japanese GAAP
FYE Mar 2023	326	−8.2%	Cons. · Japanese GAAP
FYE Mar 2024	392	+20.2%	Cons. · Japanese GAAP
FYE Mar 2025	694	+77.0%	Cons. · Japanese GAAP
FYE Mar 2026	739	+6.5%	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 ¥85bn

CAGR · 10 yrs +13.4%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	27.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.0	+9.8%	Cons. · Japanese GAAP
FYE Mar 2019	30.8	+2.5%	Cons. · Japanese GAAP
FYE Mar 2020	35.6	+15.5%	Cons. · Japanese GAAP
FYE Mar 2021	31.0	−12.7%	Cons. · Japanese GAAP
FYE Mar 2022	31.8	+2.3%	Cons. · Japanese GAAP
FYE Mar 2023	34.1	+7.3%	Cons. · Japanese GAAP
FYE Mar 2024	42.6	+25.2%	Cons. · Japanese GAAP
FYE Mar 2025	59.5	+39.5%	Cons. · Japanese GAAP
FYE Mar 2026	85.0	+42.8%	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 ¥8.4bn

CAGR · 10 yrs +54.3%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.2	−11.8%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−36.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.2	+131.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.9	+321.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.3	−72.9%	Cons. · Japanese GAAP
FYE Mar 2023	0.4	+37.8%	Cons. · Japanese GAAP
FYE Mar 2024	6.8	+1847.7%	Cons. · Japanese GAAP
FYE Mar 2025	4.8	−29.0%	Cons. · Japanese GAAP
FYE Mar 2026	8.4	+74.2%	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 ¥1.7bn

CAGR · 3 yrs +13.8%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	1.7	+33.4%	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	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	1.7	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 ¥64bn

CAGR · 10 yrs +15.3%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	17.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.1	+8.3%	Cons. · Japanese GAAP
FYE Mar 2019	19.7	+3.4%	Cons. · Japanese GAAP
FYE Mar 2020	22.5	+14.3%	Cons. · Japanese GAAP
FYE Mar 2021	20.1	−10.5%	Cons. · Japanese GAAP
FYE Mar 2022	20.3	+0.8%	Cons. · Japanese GAAP
FYE Mar 2023	21.2	+4.2%	Cons. · Japanese GAAP
FYE Mar 2024	27.3	+29.2%	Cons. · Japanese GAAP
FYE Mar 2025	42.4	+55.0%	Cons. · Japanese GAAP
FYE Mar 2026	63.5	+49.9%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 16.3%

Average · 10 yrs 11.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	10.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	9.9	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	9.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	9.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	11.4	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	11.1	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	11.9	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	13.8	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	16.3	+2.4pp	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 11.2%

Average · 10 yrs 6.7%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	5.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	5.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	5.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	6.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	6.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	6.8	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	8.7	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	11.2	+2.5pp	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 11.5%

Average · 10 yrs 6.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	5.5	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	5.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	5.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	6.4	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	6.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	7.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	8.9	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2026	11.5	+2.6pp	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 8.6%

Average · 10 yrs 4.6%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	3.5	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	3.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	3.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	4.1	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	3.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	4.6	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	6.3	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2026	8.6	+2.3pp	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 83.7%

Average · 10 yrs 88.4%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	89.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	89.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	90.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	90.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	90.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	88.6	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	88.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	88.1	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	86.2	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	83.7	−2.4pp	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 5.1%

Average · 10 yrs 4.9%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	4.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	4.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	4.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	5.3	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	5.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	5.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	5.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	5.1	−0.1pp	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 ¥636bn

CAGR · 10 yrs +4.6%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	425	n/a	Cons. · Japanese GAAP
FYE Mar 2018	444	+4.4%	Cons. · Japanese GAAP
FYE Mar 2019	460	+3.6%	Cons. · Japanese GAAP
FYE Mar 2020	489	+6.3%	Cons. · Japanese GAAP
FYE Mar 2021	457	−6.5%	Cons. · Japanese GAAP
FYE Mar 2022	471	+3.1%	Cons. · Japanese GAAP
FYE Mar 2023	488	+3.6%	Cons. · Japanese GAAP
FYE Mar 2024	567	+16.3%	Cons. · Japanese GAAP
FYE Mar 2025	603	+6.3%	Cons. · Japanese GAAP
FYE Mar 2026	636	+5.4%	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 ¥390bn

CAGR · 10 yrs +7.3%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	207	n/a	Cons. · Japanese GAAP
FYE Mar 2018	224	+8.3%	Cons. · Japanese GAAP
FYE Mar 2019	238	+6.4%	Cons. · Japanese GAAP
FYE Mar 2020	247	+3.8%	Cons. · Japanese GAAP
FYE Mar 2021	270	+9.3%	Cons. · Japanese GAAP
FYE Mar 2022	284	+5.0%	Cons. · Japanese GAAP
FYE Mar 2023	298	+5.1%	Cons. · Japanese GAAP
FYE Mar 2024	334	+11.9%	Cons. · Japanese GAAP
FYE Mar 2025	368	+10.2%	Cons. · Japanese GAAP
FYE Mar 2026	390	+6.1%	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 ¥8.1bn

CAGR · 10 yrs −8.8%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	18.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.9	+2.0%	Cons. · Japanese GAAP
FYE Mar 2019	15.5	−18.1%	Cons. · Japanese GAAP
FYE Mar 2020	14.7	−4.8%	Cons. · Japanese GAAP
FYE Mar 2021	14.7	−0.4%	Cons. · Japanese GAAP
FYE Mar 2022	13.4	−8.5%	Cons. · Japanese GAAP
FYE Mar 2023	13.0	−2.7%	Cons. · Japanese GAAP
FYE Mar 2024	21.9	+67.6%	Cons. · Japanese GAAP
FYE Mar 2025	21.0	−4.1%	Cons. · Japanese GAAP
FYE Mar 2026	8.1	−61.3%	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 ¥6.1bn

CAGR · 10 yrs −6.3%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	10.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.1	−7.8%	Cons. · Japanese GAAP
FYE Mar 2019	7.0	−31.0%	Cons. · Japanese GAAP
FYE Mar 2020	6.8	−1.8%	Cons. · Japanese GAAP
FYE Mar 2021	7.4	+8.4%	Cons. · Japanese GAAP
FYE Mar 2022	6.8	−8.2%	Cons. · Japanese GAAP
FYE Mar 2023	7.6	+11.7%	Cons. · Japanese GAAP
FYE Mar 2024	16.7	+119.6%	Cons. · Japanese GAAP
FYE Mar 2025	16.8	+0.7%	Cons. · Japanese GAAP
FYE Mar 2026	6.1	−63.7%	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 ¥2.0bn

CAGR · 10 yrs −13.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.8	+16.1%	Cons. · Japanese GAAP
FYE Mar 2019	8.5	−3.4%	Cons. · Japanese GAAP
FYE Mar 2020	7.9	−7.3%	Cons. · Japanese GAAP
FYE Mar 2021	7.2	−8.0%	Cons. · Japanese GAAP
FYE Mar 2022	6.6	−8.9%	Cons. · Japanese GAAP
FYE Mar 2023	5.5	−17.5%	Cons. · Japanese GAAP
FYE Mar 2024	5.2	−4.9%	Cons. · Japanese GAAP
FYE Mar 2025	4.2	−19.5%	Cons. · Japanese GAAP
FYE Mar 2026	2.0	−51.9%	Cons. · Japanese GAAP

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

Intangible assets

FYE Mar 2026 ¥4.4bn

CAGR · 10 yrs −2.0%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.9	+10.9%	Cons. · Japanese GAAP
FYE Mar 2019	5.7	−4.1%	Cons. · Japanese GAAP
FYE Mar 2020	5.9	+4.2%	Cons. · Japanese GAAP
FYE Mar 2021	5.8	−1.6%	Cons. · Japanese GAAP
FYE Mar 2022	5.7	−1.9%	Cons. · Japanese GAAP
FYE Mar 2023	5.9	+3.3%	Cons. · Japanese GAAP
FYE Mar 2024	5.3	−9.8%	Cons. · Japanese GAAP
FYE Mar 2025	4.5	−15.0%	Cons. · Japanese GAAP
FYE Mar 2026	4.4	−1.6%	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 61.4%

Average · 10 yrs 56.4%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	48.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50.5	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2019	51.8	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	50.6	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	59.2	+8.6pp	Cons. · Japanese GAAP
FYE Mar 2022	60.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2023	61.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	58.9	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2025	61.0	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2026	61.4	+0.4pp	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 2.1%

Average · 10 yrs 5.9%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	8.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	6.5	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2020	5.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	5.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	4.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	4.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	6.5	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2025	5.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	2.1	−3.6pp	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 16.3%

Average · 10 yrs 9.2%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	8.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.5	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	8.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	9.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	7.5	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	7.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	7.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	8.2	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	11.5	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2026	16.3	+4.8pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 10.0%

Average · 10 yrs 5.2%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	4.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	4.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	4.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	4.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	4.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	4.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	4.8	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	7.0	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2026	10.0	+3.0pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 1.17×

CAGR · 10 yrs +0.6%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.11	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.14	+3.1%	Cons. · Japanese GAAP
FYE Mar 2019	1.23	+7.2%	Cons. · Japanese GAAP
FYE Mar 2020	1.26	+2.9%	Cons. · Japanese GAAP
FYE Mar 2021	1.22	−3.5%	Cons. · Japanese GAAP
FYE Mar 2022	1.05	−13.5%	Cons. · Japanese GAAP
FYE Mar 2023	1.11	+5.5%	Cons. · Japanese GAAP
FYE Mar 2024	1.05	−5.0%	Cons. · Japanese GAAP
FYE Mar 2025	1.11	+5.6%	Cons. · Japanese GAAP
FYE Mar 2026	1.17	+4.8%	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 ¥89bn

CAGR · 10 yrs +33.3%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.5	+69.9%	Cons. · Japanese GAAP
FYE Mar 2019	28.3	+146.3%	Cons. · Japanese GAAP
FYE Mar 2020	29.2	+3.2%	Cons. · Japanese GAAP
FYE Mar 2021	12.9	−55.8%	Cons. · Japanese GAAP
FYE Mar 2022	27.2	+110.9%	Cons. · Japanese GAAP
FYE Mar 2023	7.5	−72.5%	Cons. · Japanese GAAP
FYE Mar 2024	19.8	+166.1%	Cons. · Japanese GAAP
FYE Mar 2025	18.3	−8.0%	Cons. · Japanese GAAP
FYE Mar 2026	89.5	+389.8%	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 -¥4.8bn

Average · 10 yrs -¥10bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-17.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-10.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-10.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-13.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-6.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-19.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-10.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-4.8	n/a	Cons. · Japanese GAAP

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

Financing cash flow

FYE Mar 2026 -¥66bn

Average · 10 yrs -¥14bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-7.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-26.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-12.6	−2326.6%	Cons. · Japanese GAAP
FYE Mar 2026	-65.6	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 ¥77bn

CAGR · 10 yrs +2.9%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	59.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	54.1	−9.2%	Cons. · Japanese GAAP
FYE Mar 2019	63.1	+16.6%	Cons. · Japanese GAAP
FYE Mar 2020	71.6	+13.5%	Cons. · Japanese GAAP
FYE Mar 2021	57.2	−20.1%	Cons. · Japanese GAAP
FYE Mar 2022	67.4	+17.9%	Cons. · Japanese GAAP
FYE Mar 2023	61.0	−9.5%	Cons. · Japanese GAAP
FYE Mar 2024	62.4	+2.3%	Cons. · Japanese GAAP
FYE Mar 2025	57.8	−7.4%	Cons. · Japanese GAAP
FYE Mar 2026	77.2	+33.4%	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 ¥85bn

Average · 10 yrs ¥15bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-11.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	18.1	+1146.2%	Cons. · Japanese GAAP
FYE Mar 2020	15.7	−13.5%	Cons. · Japanese GAAP
FYE Mar 2021	11.9	−24.1%	Cons. · Japanese GAAP
FYE Mar 2022	17.9	+50.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.8	−95.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.8	−6.8%	Cons. · Japanese GAAP
FYE Mar 2025	8.1	+959.6%	Cons. · Japanese GAAP
FYE Mar 2026	84.6	+945.3%	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 12.1%

Average · 10 yrs 4.1%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.3	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	5.0	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2020	4.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	2.3	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2022	5.5	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2023	1.4	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2024	3.3	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2025	2.7	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	12.1	+9.3pp	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 ¥69bn

CAGR · 10 yrs +5.9%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	41.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.2	−14.3%	Cons. · Japanese GAAP
FYE Mar 2019	47.6	+35.2%	Cons. · Japanese GAAP
FYE Mar 2020	56.9	+19.4%	Cons. · Japanese GAAP
FYE Mar 2021	42.5	−25.2%	Cons. · Japanese GAAP
FYE Mar 2022	54.0	+27.0%	Cons. · Japanese GAAP
FYE Mar 2023	48.0	−11.2%	Cons. · Japanese GAAP
FYE Mar 2024	40.6	−15.4%	Cons. · Japanese GAAP
FYE Mar 2025	36.9	−9.2%	Cons. · Japanese GAAP
FYE Mar 2026	69.0	+87.3%	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 ¥1.20tn

Change · 10 yrs +¥999bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	204	n/a
FYE Mar 2018	249	n/a
FYE Mar 2019	194	n/a
FYE Mar 2020	177	n/a
FYE Mar 2021	199	n/a
FYE Mar 2022	171	n/a
FYE Mar 2023	192	n/a
FYE Mar 2024	359	n/a
FYE Mar 2025	550	n/a
FYE Mar 2026	1,203	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 5,861¥

Change · 10 yrs +4,867¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	995	n/a
FYE Mar 2018	1,212	n/a
FYE Mar 2019	946	n/a
FYE Mar 2020	861	n/a
FYE Mar 2021	971	n/a
FYE Mar 2022	834	n/a
FYE Mar 2023	935	n/a
FYE Mar 2024	1,749	n/a
FYE Mar 2025	2,679	n/a
FYE Mar 2026	5,861	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 205,288,338shares

Change · 10 yrs −0 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	205,288,338	Parent
FYE Mar 2018	205,288,338	Parent
FYE Mar 2019	205,288,338	Parent
FYE Mar 2020	205,288,338	Parent
FYE Mar 2021	205,288,338	Parent
FYE Mar 2022	205,288,338	Parent
FYE Mar 2023	205,288,338	Parent
FYE Mar 2024	205,288,338	Parent
FYE Mar 2025	205,288,338	Parent
FYE Mar 2026	205,288,338	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 311.77¥

Change · 10 yrs +225.66¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	86.11	Cons.
FYE Mar 2018	93.31	Cons.
FYE Mar 2019	96.46	Cons.
FYE Mar 2020	110.23	Cons.
FYE Mar 2021	98.64	Cons.
FYE Mar 2022	99.45	Cons.
FYE Mar 2023	103.59	Cons.
FYE Mar 2024	133.80	Cons.
FYE Mar 2025	207.35	Cons.
FYE Mar 2026	311.77	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 1,901.09¥

Change · 10 yrs +892.79¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,008.30	Cons. · Japanese GAAP
FYE Mar 2018	1,091.85	Cons. · Japanese GAAP
FYE Mar 2019	1,161.45	Cons. · Japanese GAAP
FYE Mar 2020	1,205.05	Cons. · Japanese GAAP
FYE Mar 2021	1,317.25	Cons. · Japanese GAAP
FYE Mar 2022	1,383.30	Cons. · Japanese GAAP
FYE Mar 2023	1,453.56	Cons. · Japanese GAAP
FYE Mar 2024	1,626.70	Cons. · Japanese GAAP
FYE Mar 2025	1,791.93	Cons. · Japanese GAAP
FYE Mar 2026	1,901.09	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 18.80×

Average · 10 yrs 11.42×

Fiscal year	PER ×	Basis
FYE Mar 2017	11.55	Cons.
FYE Mar 2018	12.99	Cons.
FYE Mar 2019	9.81	Cons.
FYE Mar 2020	7.81	Cons.
FYE Mar 2021	9.84	Cons.
FYE Mar 2022	8.39	Cons.
FYE Mar 2023	9.03	Cons.
FYE Mar 2024	13.07	Cons.
FYE Mar 2025	12.92	Cons.
FYE Mar 2026	18.80	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 2.99×

Average · 10 yrs 1.11×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.98	Cons.
FYE Mar 2018	1.10	Cons.
FYE Mar 2019	0.81	Cons.
FYE Mar 2020	0.71	Cons.
FYE Mar 2021	0.73	Cons.
FYE Mar 2022	0.60	Cons.
FYE Mar 2023	0.64	Cons.
FYE Mar 2024	1.07	Cons.
FYE Mar 2025	1.49	Cons.
FYE Mar 2026	2.99	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 10,850people

Change · 10 yrs +1,606 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	9,244	n/a	Cons.
FYE Mar 2018	9,571	+3.5%	Cons.
FYE Mar 2019	9,818	+2.6%	Cons.
FYE Mar 2020	10,003	+1.9%	Cons.
FYE Mar 2021	10,154	+1.5%	Cons.
FYE Mar 2022	10,264	+1.1%	Cons.
FYE Mar 2023	10,320	+0.5%	Cons.
FYE Mar 2024	10,442	+1.2%	Cons.
FYE Mar 2025	10,558	+1.1%	Cons.
FYE Mar 2026	10,850	+2.8%	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 8,110people

Change · 10 yrs +1,381 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	6,729	n/a	Parent
FYE Mar 2018	6,976	+3.7%	Parent
FYE Mar 2019	7,202	+3.2%	Parent
FYE Mar 2020	7,350	+2.1%	Parent
FYE Mar 2021	7,497	+2.0%	Parent
FYE Mar 2022	7,619	+1.6%	Parent
FYE Mar 2023	7,682	+0.8%	Parent
FYE Mar 2024	7,769	+1.1%	Parent
FYE Mar 2025	7,856	+1.1%	Parent
FYE Mar 2026	8,110	+3.2%	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 1,012万円

Change · 8 yrs +271万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	741	n/a	Parent
FYE Mar 2020	764	+3.1%	Parent
FYE Mar 2021	752	−1.6%	Parent
FYE Mar 2022	745	−0.9%	Parent
FYE Mar 2023	748	+0.4%	Parent
FYE Mar 2024	819	+9.4%	Parent
FYE Mar 2025	906	+10.7%	Parent
FYE Mar 2026	1,012	+11.7%	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 42.4years

Change · 8 yrs +0.9 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	41.5	n/a	Parent
FYE Mar 2020	41.6	+0.2%	Parent
FYE Mar 2021	41.7	+0.2%	Parent
FYE Mar 2022	41.9	+0.5%	Parent
FYE Mar 2023	42.1	+0.5%	Parent
FYE Mar 2024	42.3	+0.5%	Parent
FYE Mar 2025	42.4	+0.2%	Parent
FYE Mar 2026	42.4	−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 19.3years

Change · 8 yrs +0.2 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	19.1	n/a	Parent
FYE Mar 2020	19.1	−0.0%	Parent
FYE Mar 2021	19.0	−0.5%	Parent
FYE Mar 2022	19.1	+0.5%	Parent
FYE Mar 2023	19.4	+1.6%	Parent
FYE Mar 2024	19.6	+1.0%	Parent
FYE Mar 2025	19.5	−0.5%	Parent
FYE Mar 2026	19.3	−1.0%	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 1,153people

Change · 10 yrs +146 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	1,007	n/a	n/a
FYE Mar 2018	1,077	+7.0%	n/a
FYE Mar 2019	1,020	−5.3%	n/a
FYE Mar 2020	1,071	+5.0%	n/a
FYE Mar 2021	1,032	−3.6%	n/a
FYE Mar 2022	1,050	+1.7%	n/a
FYE Mar 2023	1,040	−1.0%	n/a
FYE Mar 2024	1,065	+2.4%	n/a
FYE Mar 2025	1,066	+0.1%	n/a
FYE Mar 2026	1,153	+8.2%	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 ¥68.4m

Change · 10 yrs +¥17.4m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	50.9	n/a	Cons.
FYE Mar 2018	53.0	+4.0%	Cons.
FYE Mar 2019	57.4	+8.3%	Cons.
FYE Mar 2020	61.6	+7.3%	Cons.
FYE Mar 2021	54.8	−11.1%	Cons.
FYE Mar 2022	48.3	−11.8%	Cons.
FYE Mar 2023	52.5	+8.7%	Cons.
FYE Mar 2024	57.3	+9.2%	Cons.
FYE Mar 2025	63.6	+11.0%	Cons.
FYE Mar 2026	68.4	+7.5%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥7.7m

Change · 10 yrs +¥4.8m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.9	n/a	Cons.
FYE Mar 2018	3.1	+7.1%	Cons.
FYE Mar 2019	3.1	−0.0%	Cons.
FYE Mar 2020	3.5	+13.5%	Cons.
FYE Mar 2021	3.0	−14.7%	Cons.
FYE Mar 2022	3.0	+0.9%	Cons.
FYE Mar 2023	3.2	+6.3%	Cons.
FYE Mar 2024	3.9	+23.5%	Cons.
FYE Mar 2025	5.5	+40.9%	Cons.
FYE Mar 2026	7.7	+38.7%	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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