Financials

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

FYE Mar 2026 · Revenue¥418bnYoY +1.8%

FYE Mar 2026 · Operating profit¥22bnYoY +2.8%

FYE Mar 2026 · Net profit¥22bnYoY −11.9%

FYE Mar 2026 · Equity ratio59.2%YoY −1.5pp

FYE Mar 2026 · Group employees3,935YoY +72

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥313bn	n/a	¥12bn	n/a	3.7%	¥8.9bn	Kodera Haruki	Head office moved to its present site
FYE Mar 2018Consolidated	¥323bn	+3.4%	¥10bn	−13.1%	3.1%	¥7.7bn	Kondo Masayuki	—
FYE Mar 2019Consolidated	¥335bn	+3.7%	¥11bn	+11.6%	3.3%	¥8.5bn	Kondo Masayuki	—
FYE Mar 2020Consolidated	¥345bn	+2.8%	¥11bn	−1.1%	3.2%	¥8.9bn	Kondo Masayuki	Link Square Shinjuku completed on the site of the former Shibuya head office
FYE Mar 2021Consolidated	¥288bn	−16.4%	¥10bn	−6.6%	3.6%	¥8.6bn	Kondo Masayuki	—
FYE Mar 2022Consolidated	¥321bn	+11.4%	¥11bn	+8.8%	3.5%	¥9.3bn	Maezuru Toshiya	The company name changed to NIPPN
FYE Mar 2023Consolidated	¥366bn	+13.8%	¥12bn	+8.9%	3.4%	¥10bn	Maezuru Toshiya	OK Food Industry made a wholly owned subsidiary
FYE Mar 2024Consolidated	¥401bn	+9.6%	¥20bn	+65.5%	5.1%	¥26bn	Maezuru Toshiya	—
FYE Mar 2025Consolidated	¥411bn	+2.6%	¥21bn	+5.6%	5.2%	¥25bn	Maezuru Toshiya	Medium-term targets raised to ¥450bn of revenue and ¥21bn of operating profit
FYE Mar 2026Consolidated	¥418bn	+1.8%	¥22bn	+2.8%	5.3%	¥22bn	Maezuru Toshiya	The new Utah Flour Milling plant starts up in the United States

How it compares

Nisshin Seifun Group¥865bnFY2025Operating margin 5.4%Fuji Oil¥772bnFY2025Operating margin 3.9%

NIPPN CORPORATION¥418bnFY2025Operating margin 5.3%

Shouwasangyou¥334bnFY2024Operating margin 3.3%

Nittoufujiseifun¥72bnFY2024Operating margin 7.0%

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 ¥418bn

CAGR · 10 yrs +3.3%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	313	n/a	Cons. · Japanese GAAP
FYE Mar 2018	323	+3.4%	Cons. · Japanese GAAP
FYE Mar 2019	335	+3.7%	Cons. · Japanese GAAP
FYE Mar 2020	345	+2.8%	Cons. · Japanese GAAP
FYE Mar 2021	288	−16.4%	Cons. · Japanese GAAP
FYE Mar 2022	321	+11.4%	Cons. · Japanese GAAP
FYE Mar 2023	366	+13.8%	Cons. · Japanese GAAP
FYE Mar 2024	401	+9.6%	Cons. · Japanese GAAP
FYE Mar 2025	411	+2.6%	Cons. · Japanese GAAP
FYE Mar 2026	418	+1.8%	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 ¥314bn

CAGR · 10 yrs +3.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	226	n/a	Cons. · Japanese GAAP
FYE Mar 2018	235	+3.7%	Cons. · Japanese GAAP
FYE Mar 2019	243	+3.5%	Cons. · Japanese GAAP
FYE Mar 2020	247	+1.7%	Cons. · Japanese GAAP
FYE Mar 2021	219	−11.6%	Cons. · Japanese GAAP
FYE Mar 2022	246	+12.7%	Cons. · Japanese GAAP
FYE Mar 2023	285	+15.9%	Cons. · Japanese GAAP
FYE Mar 2024	307	+7.4%	Cons. · Japanese GAAP
FYE Mar 2025	311	+1.6%	Cons. · Japanese GAAP
FYE Mar 2026	314	+0.8%	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 ¥105bn

CAGR · 10 yrs +2.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	86.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	88.7	+2.4%	Cons. · Japanese GAAP
FYE Mar 2019	92.4	+4.2%	Cons. · Japanese GAAP
FYE Mar 2020	97.6	+5.6%	Cons. · Japanese GAAP
FYE Mar 2021	69.7	−28.6%	Cons. · Japanese GAAP
FYE Mar 2022	74.9	+7.6%	Cons. · Japanese GAAP
FYE Mar 2023	80.1	+6.9%	Cons. · Japanese GAAP
FYE Mar 2024	94.0	+17.4%	Cons. · Japanese GAAP
FYE Mar 2025	99.6	+5.9%	Cons. · Japanese GAAP
FYE Mar 2026	105	+5.2%	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 ¥83bn

CAGR · 10 yrs +1.1%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	75.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	78.6	+4.8%	Cons. · Japanese GAAP
FYE Mar 2019	81.2	+3.2%	Cons. · Japanese GAAP
FYE Mar 2020	86.5	+6.5%	Cons. · Japanese GAAP
FYE Mar 2021	59.3	−31.4%	Cons. · Japanese GAAP
FYE Mar 2022	63.6	+7.3%	Cons. · Japanese GAAP
FYE Mar 2023	67.8	+6.5%	Cons. · Japanese GAAP
FYE Mar 2024	73.7	+8.7%	Cons. · Japanese GAAP
FYE Mar 2025	78.1	+6.0%	Cons. · Japanese GAAP
FYE Mar 2026	82.7	+5.9%	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 ¥22bn

CAGR · 10 yrs +7.4%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	11.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.1	−13.1%	Cons. · Japanese GAAP
FYE Mar 2019	11.2	+11.6%	Cons. · Japanese GAAP
FYE Mar 2020	11.1	−1.1%	Cons. · Japanese GAAP
FYE Mar 2021	10.4	−6.6%	Cons. · Japanese GAAP
FYE Mar 2022	11.3	+8.8%	Cons. · Japanese GAAP
FYE Mar 2023	12.3	+8.9%	Cons. · Japanese GAAP
FYE Mar 2024	20.3	+65.5%	Cons. · Japanese GAAP
FYE Mar 2025	21.5	+5.6%	Cons. · Japanese GAAP
FYE Mar 2026	22.1	+2.8%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥4.4bn

CAGR · 10 yrs +7.8%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.3	+3.1%	Cons. · Japanese GAAP
FYE Mar 2019	2.4	+5.2%	Cons. · Japanese GAAP
FYE Mar 2020	2.4	−1.1%	Cons. · Japanese GAAP
FYE Mar 2021	3.0	+25.8%	Cons. · Japanese GAAP
FYE Mar 2022	3.6	+18.7%	Cons. · Japanese GAAP
FYE Mar 2023	3.5	−4.1%	Cons. · Japanese GAAP
FYE Mar 2024	3.3	−3.8%	Cons. · Japanese GAAP
FYE Mar 2025	3.5	+5.5%	Cons. · Japanese GAAP
FYE Mar 2026	4.4	+25.7%	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 ¥1.6bn

CAGR · 10 yrs +10.4%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.5	−21.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.6	+15.2%	Cons. · Japanese GAAP
FYE Mar 2020	0.8	+29.4%	Cons. · Japanese GAAP
FYE Mar 2021	0.8	−3.3%	Cons. · Japanese GAAP
FYE Mar 2022	0.6	−17.2%	Cons. · Japanese GAAP
FYE Mar 2023	0.9	+49.9%	Cons. · Japanese GAAP
FYE Mar 2024	0.4	−57.9%	Cons. · Japanese GAAP
FYE Mar 2025	0.6	+55.1%	Cons. · Japanese GAAP
FYE Mar 2026	1.6	+166.0%	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 ¥25bn

CAGR · 10 yrs +7.3%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	13.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.9	−9.9%	Cons. · Japanese GAAP
FYE Mar 2019	13.1	+10.1%	Cons. · Japanese GAAP
FYE Mar 2020	12.7	−2.5%	Cons. · Japanese GAAP
FYE Mar 2021	12.7	−0.6%	Cons. · Japanese GAAP
FYE Mar 2022	14.3	+12.7%	Cons. · Japanese GAAP
FYE Mar 2023	14.8	+3.8%	Cons. · Japanese GAAP
FYE Mar 2024	23.3	+57.1%	Cons. · Japanese GAAP
FYE Mar 2025	24.4	+4.8%	Cons. · Japanese GAAP
FYE Mar 2026	24.9	+2.0%	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 ¥7.1bn

CAGR · 10 yrs +34.9%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.2	−52.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−77.3%	Cons. · Japanese GAAP
FYE Mar 2020	1.6	+2994.2%	Cons. · Japanese GAAP
FYE Mar 2021	1.7	+8.5%	Cons. · Japanese GAAP
FYE Mar 2022	1.3	−24.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.8	−43.0%	Cons. · Japanese GAAP
FYE Mar 2024	13.9	+1740.3%	Cons. · Japanese GAAP
FYE Mar 2025	13.4	−3.7%	Cons. · Japanese GAAP
FYE Mar 2026	7.1	−46.7%	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 ¥22bn

CAGR · 10 yrs +10.4%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	8.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.7	−14.4%	Cons. · Japanese GAAP
FYE Mar 2019	8.5	+10.5%	Cons. · Japanese GAAP
FYE Mar 2020	8.9	+5.7%	Cons. · Japanese GAAP
FYE Mar 2021	8.6	−3.4%	Cons. · Japanese GAAP
FYE Mar 2022	9.3	+8.0%	Cons. · Japanese GAAP
FYE Mar 2023	10.3	+10.0%	Cons. · Japanese GAAP
FYE Mar 2024	26.4	+157.0%	Cons. · Japanese GAAP
FYE Mar 2025	24.8	−6.1%	Cons. · Japanese GAAP
FYE Mar 2026	21.8	−11.9%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 25.0%

Average · 10 yrs 25.3%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	27.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	27.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	28.3	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	24.2	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2022	23.3	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	21.9	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	23.5	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	24.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	25.0	+0.8pp	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 5.3%

Average · 10 yrs 3.9%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	3.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	3.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	3.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	3.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	3.4	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	5.1	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	5.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	5.3	−0.0pp	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 4.6%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	3.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	3.7	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	4.4	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	4.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	4.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	5.8	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	5.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	5.9	−0.0pp	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 5.2%

Average · 10 yrs 3.7%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	2.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	2.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	3.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	2.9	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	2.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	6.6	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2025	6.0	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	5.2	−0.8pp	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 75.0%

Average · 10 yrs 74.7%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	72.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	72.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	72.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	71.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	75.8	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2022	76.7	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	78.1	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	76.5	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	75.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	75.0	−0.8pp	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 19.8%

Average · 10 yrs 21.4%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	24.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	24.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	25.1	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	20.6	−4.5pp	Cons. · Japanese GAAP
FYE Mar 2022	19.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	18.5	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2024	18.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	19.0	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	19.8	+0.8pp	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 ¥477bn

CAGR · 10 yrs +7.3%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	252	n/a	Cons. · Japanese GAAP
FYE Mar 2018	272	+8.0%	Cons. · Japanese GAAP
FYE Mar 2019	293	+7.8%	Cons. · Japanese GAAP
FYE Mar 2020	290	−1.0%	Cons. · Japanese GAAP
FYE Mar 2021	308	+6.0%	Cons. · Japanese GAAP
FYE Mar 2022	326	+5.9%	Cons. · Japanese GAAP
FYE Mar 2023	345	+5.7%	Cons. · Japanese GAAP
FYE Mar 2024	387	+12.2%	Cons. · Japanese GAAP
FYE Mar 2025	399	+3.2%	Cons. · Japanese GAAP
FYE Mar 2026	477	+19.4%	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 ¥282bn

CAGR · 10 yrs +7.8%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	143	n/a	Cons. · Japanese GAAP
FYE Mar 2018	153	+6.4%	Cons. · Japanese GAAP
FYE Mar 2019	150	−1.4%	Cons. · Japanese GAAP
FYE Mar 2020	154	+2.4%	Cons. · Japanese GAAP
FYE Mar 2021	164	+6.8%	Cons. · Japanese GAAP
FYE Mar 2022	174	+6.0%	Cons. · Japanese GAAP
FYE Mar 2023	189	+8.4%	Cons. · Japanese GAAP
FYE Mar 2024	224	+18.8%	Cons. · Japanese GAAP
FYE Mar 2025	242	+8.0%	Cons. · Japanese GAAP
FYE Mar 2026	282	+16.6%	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 ¥59bn

CAGR · 10 yrs +8.3%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	28.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	34.6	+19.7%	Cons. · Japanese GAAP
FYE Mar 2019	31.2	−9.7%	Cons. · Japanese GAAP
FYE Mar 2020	33.2	+6.4%	Cons. · Japanese GAAP
FYE Mar 2021	44.6	+34.1%	Cons. · Japanese GAAP
FYE Mar 2022	43.2	−3.0%	Cons. · Japanese GAAP
FYE Mar 2023	38.7	−10.3%	Cons. · Japanese GAAP
FYE Mar 2024	36.1	−6.9%	Cons. · Japanese GAAP
FYE Mar 2025	32.0	−11.2%	Cons. · Japanese GAAP
FYE Mar 2026	59.1	+84.4%	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 ¥16bn

CAGR · 10 yrs −2.0%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	19.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.5	+18.4%	Cons. · Japanese GAAP
FYE Mar 2019	19.2	−14.8%	Cons. · Japanese GAAP
FYE Mar 2020	20.8	+8.5%	Cons. · Japanese GAAP
FYE Mar 2021	22.4	+7.5%	Cons. · Japanese GAAP
FYE Mar 2022	19.5	−12.8%	Cons. · Japanese GAAP
FYE Mar 2023	17.6	−10.0%	Cons. · Japanese GAAP
FYE Mar 2024	18.9	+7.4%	Cons. · Japanese GAAP
FYE Mar 2025	17.3	−8.1%	Cons. · Japanese GAAP
FYE Mar 2026	15.8	−8.8%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Mar 2026 ¥43bn

CAGR · 10 yrs +17.8%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	9.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.1	+22.3%	Cons. · Japanese GAAP
FYE Mar 2019	12.0	−0.3%	Cons. · Japanese GAAP
FYE Mar 2020	12.4	+3.1%	Cons. · Japanese GAAP
FYE Mar 2021	22.2	+78.6%	Cons. · Japanese GAAP
FYE Mar 2022	23.7	+6.8%	Cons. · Japanese GAAP
FYE Mar 2023	21.2	−10.6%	Cons. · Japanese GAAP
FYE Mar 2024	17.2	−18.7%	Cons. · Japanese GAAP
FYE Mar 2025	14.7	−14.7%	Cons. · Japanese GAAP
FYE Mar 2026	43.2	+194.5%	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 ¥2.9bn

CAGR · 10 yrs +9.2%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.4	+9.8%	Cons. · Japanese GAAP
FYE Mar 2019	1.4	−3.4%	Cons. · Japanese GAAP
FYE Mar 2020	1.6	+18.0%	Cons. · Japanese GAAP
FYE Mar 2021	2.9	+76.0%	Cons. · Japanese GAAP
FYE Mar 2022	2.5	−11.5%	Cons. · Japanese GAAP
FYE Mar 2023	2.2	−14.0%	Cons. · Japanese GAAP
FYE Mar 2024	2.4	+11.4%	Cons. · Japanese GAAP
FYE Mar 2025	2.0	−16.5%	Cons. · Japanese GAAP
FYE Mar 2026	2.9	+41.8%	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 ¥1.5bn

CAGR · 10 yrs +9.6%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.6	−10.8%	Cons. · Japanese GAAP
FYE Mar 2019	0.6	+5.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.5	−17.4%	Cons. · Japanese GAAP
FYE Mar 2021	1.6	+219.8%	Cons. · Japanese GAAP
FYE Mar 2022	1.4	−14.5%	Cons. · Japanese GAAP
FYE Mar 2023	1.2	−16.1%	Cons. · Japanese GAAP
FYE Mar 2024	1.0	−15.4%	Cons. · Japanese GAAP
FYE Mar 2025	0.8	−18.9%	Cons. · Japanese GAAP
FYE Mar 2026	1.5	+87.5%	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 59.2%

Average · 10 yrs 55.7%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	56.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	56.0	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	51.3	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2020	53.0	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	53.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	53.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	54.8	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2024	58.0	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	60.7	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2026	59.2	−1.5pp	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 20.9%

Average · 10 yrs 20.8%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	20.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.7	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2019	20.8	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2020	21.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	27.1	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2022	24.8	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	20.5	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2024	16.1	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2025	13.2	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2026	20.9	+7.7pp	Cons. · Japanese GAAP

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

ROE return on equity

FYE Mar 2026 7.7%

Average · 10 yrs 6.8%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	6.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	5.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	5.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	5.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	5.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	5.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	11.8	+6.3pp	Cons. · Japanese GAAP
FYE Mar 2025	10.2	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	7.7	−2.5pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 4.6%

Average · 10 yrs 3.9%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.8	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	2.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	3.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	2.8	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	2.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	3.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	6.8	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2025	6.2	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	4.6	−1.6pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.88×

CAGR · 10 yrs −3.8%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.24	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.19	−4.3%	Cons. · Japanese GAAP
FYE Mar 2019	1.14	−3.8%	Cons. · Japanese GAAP
FYE Mar 2020	1.19	+3.9%	Cons. · Japanese GAAP
FYE Mar 2021	0.94	−21.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.99	+5.3%	Cons. · Japanese GAAP
FYE Mar 2023	1.06	+7.6%	Cons. · Japanese GAAP
FYE Mar 2024	1.04	−2.4%	Cons. · Japanese GAAP
FYE Mar 2025	1.03	−0.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.88	−14.7%	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 ¥25bn

CAGR · 10 yrs +4.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	17.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.2	−12.5%	Cons. · Japanese GAAP
FYE Mar 2019	17.1	+12.1%	Cons. · Japanese GAAP
FYE Mar 2020	15.5	−9.0%	Cons. · Japanese GAAP
FYE Mar 2021	14.8	−4.7%	Cons. · Japanese GAAP
FYE Mar 2022	12.0	−19.1%	Cons. · Japanese GAAP
FYE Mar 2023	15.1	+25.7%	Cons. · Japanese GAAP
FYE Mar 2024	24.0	+59.6%	Cons. · Japanese GAAP
FYE Mar 2025	18.8	−21.9%	Cons. · Japanese GAAP
FYE Mar 2026	25.3	+34.7%	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 -¥27bn

Average · 10 yrs -¥13bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-12.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-11.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-14.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-14.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-12.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-10.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-9.5	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-27.1	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 ¥24bn

Average · 10 yrs -¥0.5bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-11.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	7.1	+152.7%	Cons. · Japanese GAAP
FYE Mar 2020	-0.8	−110.6%	Cons. · Japanese GAAP
FYE Mar 2021	2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-4.3	−267.6%	Cons. · Japanese GAAP
FYE Mar 2023	-8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-7.2	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2026	24.5	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 ¥64bn

CAGR · 10 yrs +18.1%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	14.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.6	+43.1%	Cons. · Japanese GAAP
FYE Mar 2019	30.1	+46.4%	Cons. · Japanese GAAP
FYE Mar 2020	31.0	+3.1%	Cons. · Japanese GAAP
FYE Mar 2021	35.3	+13.9%	Cons. · Japanese GAAP
FYE Mar 2022	31.2	−11.6%	Cons. · Japanese GAAP
FYE Mar 2023	33.2	+6.2%	Cons. · Japanese GAAP
FYE Mar 2024	40.7	+22.8%	Cons. · Japanese GAAP
FYE Mar 2025	41.5	+1.8%	Cons. · Japanese GAAP
FYE Mar 2026	64.2	+54.9%	Cons. · Japanese GAAP

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

Free cash flow

FYE Mar 2026 -¥1.8bn

Average · 10 yrs ¥5.0bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	4.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.3	−31.0%	Cons. · Japanese GAAP
FYE Mar 2019	2.4	−25.2%	Cons. · Japanese GAAP
FYE Mar 2020	1.4	−42.8%	Cons. · Japanese GAAP
FYE Mar 2021	2.2	+58.3%	Cons. · Japanese GAAP
FYE Mar 2022	1.9	−15.6%	Cons. · Japanese GAAP
FYE Mar 2023	10.0	+435.7%	Cons. · Japanese GAAP
FYE Mar 2024	14.5	+44.9%	Cons. · Japanese GAAP
FYE Mar 2025	11.0	−24.6%	Cons. · Japanese GAAP
FYE Mar 2026	-1.8	−116.6%	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 6.0%

Average · 10 yrs 4.9%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.7	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	5.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	4.5	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	5.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	3.7	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	4.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	6.0	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2025	4.6	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	6.0	+1.5pp	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 ¥5.2bn

Average · 10 yrs -¥4.0bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-14.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-14.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-12.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	4.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	9.4	+103.2%	Cons. · Japanese GAAP
FYE Mar 2026	5.2	−45.4%	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Mar 2026 ¥201bn

Change · 10 yrs +¥66bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	136	n/a
FYE Mar 2018	136	n/a
FYE Mar 2019	150	n/a
FYE Mar 2020	133	n/a
FYE Mar 2021	131	n/a
FYE Mar 2022	131	n/a
FYE Mar 2023	127	n/a
FYE Mar 2024	166	n/a
FYE Mar 2025	176	n/a
FYE Mar 2026	201	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 2,376¥

Change · 10 yrs +731¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,644	n/a
FYE Mar 2018	1,649	n/a
FYE Mar 2019	1,900	n/a
FYE Mar 2020	1,686	n/a
FYE Mar 2021	1,662	n/a
FYE Mar 2022	1,663	n/a
FYE Mar 2023	1,607	n/a
FYE Mar 2024	2,107	n/a
FYE Mar 2025	2,237	n/a
FYE Mar 2026	2,376	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 84,727,000shares

Change · 10 yrs +2,203,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	82,524,000	Parent
FYE Mar 2018	82,524,000	Parent
FYE Mar 2019	78,824,000	Parent
FYE Mar 2020	78,824,000	Parent
FYE Mar 2021	78,824,000	Parent
FYE Mar 2022	78,824,000	Parent
FYE Mar 2023	78,824,000	Parent
FYE Mar 2024	78,824,000	Parent
FYE Mar 2025	78,824,000	Parent
FYE Mar 2026	84,727,000	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 262.51¥

Change · 10 yrs +151.11¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	111.40	Cons.
FYE Mar 2018	95.34	Cons.
FYE Mar 2019	108.78	Cons.
FYE Mar 2020	116.71	Cons.
FYE Mar 2021	112.62	Cons.
FYE Mar 2022	121.59	Cons.
FYE Mar 2023	132.16	Cons.
FYE Mar 2024	338.20	Cons.
FYE Mar 2025	317.27	Cons.
FYE Mar 2026	262.51	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 3,333.40¥

Change · 10 yrs +1,596.40¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,737.00	Cons. · Japanese GAAP
FYE Mar 2018	1,848.19	Cons. · Japanese GAAP
FYE Mar 2019	1,908.48	Cons. · Japanese GAAP
FYE Mar 2020	1,953.57	Cons. · Japanese GAAP
FYE Mar 2021	2,086.20	Cons. · Japanese GAAP
FYE Mar 2022	2,211.46	Cons. · Japanese GAAP
FYE Mar 2023	2,396.66	Cons. · Japanese GAAP
FYE Mar 2024	2,846.05	Cons. · Japanese GAAP
FYE Mar 2025	3,073.39	Cons. · Japanese GAAP
FYE Mar 2026	3,333.40	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 9.05×

Average · 10 yrs 12.69×

Fiscal year	PER ×	Basis
FYE Mar 2017	14.76	Cons.
FYE Mar 2018	17.30	Cons.
FYE Mar 2019	17.47	Cons.
FYE Mar 2020	14.45	Cons.
FYE Mar 2021	14.76	Cons.
FYE Mar 2022	13.68	Cons.
FYE Mar 2023	12.16	Cons.
FYE Mar 2024	6.23	Cons.
FYE Mar 2025	7.05	Cons.
FYE Mar 2026	9.05	Cons.

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

PBR price-to-book ratio

FYE Mar 2026 0.70×

Average · 10 yrs 0.79×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.92	Cons.
FYE Mar 2018	0.87	Cons.
FYE Mar 2019	0.97	Cons.
FYE Mar 2020	0.84	Cons.
FYE Mar 2021	0.78	Cons.
FYE Mar 2022	0.73	Cons.
FYE Mar 2023	0.66	Cons.
FYE Mar 2024	0.73	Cons.
FYE Mar 2025	0.72	Cons.
FYE Mar 2026	0.70	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 3,935people

Change · 10 yrs +325 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	3,610	n/a	Cons.
FYE Mar 2018	3,696	+2.4%	Cons.
FYE Mar 2019	3,687	−0.2%	Cons.
FYE Mar 2020	3,737	+1.4%	Cons.
FYE Mar 2021	3,880	+3.8%	Cons.
FYE Mar 2022	3,775	−2.7%	Cons.
FYE Mar 2023	3,848	+1.9%	Cons.
FYE Mar 2024	3,829	−0.5%	Cons.
FYE Mar 2025	3,863	+0.9%	Cons.
FYE Mar 2026	3,935	+1.9%	Cons.

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

Parent-company employees

FYE Mar 2026 1,244people

Change · 10 yrs +268 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	976	n/a	Parent
FYE Mar 2018	980	+0.4%	Parent
FYE Mar 2019	1,002	+2.2%	Parent
FYE Mar 2020	1,025	+2.3%	Parent
FYE Mar 2021	1,070	+4.4%	Parent
FYE Mar 2022	1,137	+6.3%	Parent
FYE Mar 2023	1,156	+1.7%	Parent
FYE Mar 2024	1,173	+1.5%	Parent
FYE Mar 2025	1,210	+3.2%	Parent
FYE Mar 2026	1,244	+2.8%	Parent

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

Average annual pay parent company

FYE Mar 2026 758万円

Change · 8 yrs +30万円

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	728	n/a	Parent
FYE Mar 2020	726	−0.3%	Parent
FYE Mar 2021	723	−0.4%	Parent
FYE Mar 2022	722	−0.1%	Parent
FYE Mar 2023	724	+0.2%	Parent
FYE Mar 2024	722	−0.2%	Parent
FYE Mar 2025	747	+3.4%	Parent
FYE Mar 2026	758	+1.5%	Parent

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

Average age

FYE Mar 2026 39.0years

Change · 8 yrs −1.0 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	40.0	n/a	Parent
FYE Mar 2020	40.0	−0.0%	Parent
FYE Mar 2021	39.0	−2.5%	Parent
FYE Mar 2022	39.0	−0.0%	Parent
FYE Mar 2023	39.0	−0.0%	Parent
FYE Mar 2024	39.0	−0.0%	Parent
FYE Mar 2025	39.0	−0.0%	Parent
FYE Mar 2026	39.0	−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 14.0years

Change · 8 yrs −2.0 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	16.0	n/a	Parent
FYE Mar 2020	16.0	−0.0%	Parent
FYE Mar 2021	16.0	−0.0%	Parent
FYE Mar 2022	15.0	−6.2%	Parent
FYE Mar 2023	15.0	−0.0%	Parent
FYE Mar 2024	15.0	−0.0%	Parent
FYE Mar 2025	15.0	−0.0%	Parent
FYE Mar 2026	14.0	−6.7%	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 6,035people

Change · 10 yrs +1,586 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	4,449	n/a	n/a
FYE Mar 2018	4,857	+9.2%	n/a
FYE Mar 2019	4,867	+0.2%	n/a
FYE Mar 2020	4,969	+2.1%	n/a
FYE Mar 2021	5,717	+15.1%	n/a
FYE Mar 2022	5,257	−8.0%	n/a
FYE Mar 2023	4,953	−5.8%	n/a
FYE Mar 2024	5,448	+10.0%	n/a
FYE Mar 2025	5,618	+3.1%	n/a
FYE Mar 2026	6,035	+7.4%	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 ¥106m

Change · 10 yrs +¥19.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	86.7	n/a	Cons.
FYE Mar 2018	87.5	+1.0%	Cons.
FYE Mar 2019	91.0	+3.9%	Cons.
FYE Mar 2020	92.3	+1.4%	Cons.
FYE Mar 2021	74.3	−19.5%	Cons.
FYE Mar 2022	85.1	+14.5%	Cons.
FYE Mar 2023	95.0	+11.6%	Cons.
FYE Mar 2024	105	+10.1%	Cons.
FYE Mar 2025	106	+1.7%	Cons.
FYE Mar 2026	106	−0.0%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.6m

Change · 10 yrs +¥2.4m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons.
FYE Mar 2018	2.7	−15.1%	Cons.
FYE Mar 2019	3.0	+11.8%	Cons.
FYE Mar 2020	3.0	−2.4%	Cons.
FYE Mar 2021	2.7	−10.0%	Cons.
FYE Mar 2022	3.0	+11.8%	Cons.
FYE Mar 2023	3.2	+6.9%	Cons.
FYE Mar 2024	5.3	+66.3%	Cons.
FYE Mar 2025	5.6	+4.7%	Cons.
FYE Mar 2026	5.6	+0.9%	Cons.

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

Disclaimer

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

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

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