Financials

Nihon M&A Center Holdings: FYE Mar 2026 and ten years of results (51 metrics)

FYE Mar 2026 · Revenue¥50bnYoY +14.0%

FYE Mar 2026 · Operating profit¥19bnYoY +12.2%

FYE Mar 2026 · Net profit¥12bnYoY +14.0%

FYE Mar 2026 · Equity ratio75.8%YoY −0.6pp

FYE Mar 2026 · Group employees1,062YoY −24

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥19bn	n/a	¥9.0bn	n/a	47.4%	¥6.2bn	Miyake Suguru	Singapore office; valuation institute founded
FYE Mar 2018Consolidated	¥25bn	+29.1%	¥12bn	+28.3%	47.1%	¥8.1bn	Miyake Suguru	—
FYE Mar 2019Consolidated	¥28bn	+15.6%	¥13bn	+8.0%	44.0%	¥8.9bn	Miyake Suguru	—
FYE Mar 2020Consolidated	¥32bn	+12.5%	¥14bn	+13.7%	44.5%	¥10bn	Miyake Suguru	Indonesia representative office (2020: Malaysia)
FYE Mar 2021Consolidated	¥35bn	+8.7%	¥15bn	+7.6%	44.1%	¥11bn	Miyake Suguru	—
FYE Mar 2022Consolidated	¥40bn	+16.1%	¥16bn	+7.1%	40.7%	¥11bn	Miyake Suguru	Converts to a pure holding company (October)
FYE Mar 2023Consolidated	¥41bn	+2.3%	¥15bn	−6.9%	37.0%	¥9.8bn	Miyake Suguru	Prior-year results restated; screening and quality controls tightened
FYE Mar 2024Consolidated	¥44bn	+6.8%	¥16bn	+5.0%	36.4%	¥11bn	Miyake Suguru	—
FYE Mar 2025Consolidated	¥44bn	−0.1%	¥17bn	+4.0%	37.9%	¥11bn	Miyake Suguru	Takeuchi Naoki becomes president, calling it a “second founding” (March)
FYE Mar 2026Consolidated	¥50bn	+14.0%	¥19bn	+12.2%	37.3%	¥12bn	Miyake Suguru	Revenue falls in real terms; ordinary profit hits a record

How it compares

Nihon M&A Center Holdings¥50bnFY2025Operating margin 37.3%

Emuandoekyapitarupatonazu¥22bnFY2025Operating margin 31.7%

Sutoraiku¥20bnFY2025Operating margin 31.2%

Gijutsushoukeikikou¥15bnFY2025Operating margin 9.6%

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 ¥50bn

CAGR · 10 yrs +11.4%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	19.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.6	+29.1%	Cons. · Japanese GAAP
FYE Mar 2019	28.5	+15.6%	Cons. · Japanese GAAP
FYE Mar 2020	32.0	+12.5%	Cons. · Japanese GAAP
FYE Mar 2021	34.8	+8.7%	Cons. · Japanese GAAP
FYE Mar 2022	40.4	+16.1%	Cons. · Japanese GAAP
FYE Mar 2023	41.3	+2.3%	Cons. · Japanese GAAP
FYE Mar 2024	44.1	+6.8%	Cons. · Japanese GAAP
FYE Mar 2025	44.1	−0.1%	Cons. · Japanese GAAP
FYE Mar 2026	50.3	+14.0%	Cons. · Japanese GAAP

Definition: Everything the company took in from its own business
Formula: Revenue line of the income statement
Source: Securities report (XBRL)

Cost of sales

FYE Mar 2026 ¥20bn

CAGR · 10 yrs +12.4%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.1	+30.8%	Cons. · Japanese GAAP
FYE Mar 2019	11.4	+24.3%	Cons. · Japanese GAAP
FYE Mar 2020	12.6	+10.6%	Cons. · Japanese GAAP
FYE Mar 2021	13.6	+8.1%	Cons. · Japanese GAAP
FYE Mar 2022	16.3	+19.8%	Cons. · Japanese GAAP
FYE Mar 2023	17.8	+9.5%	Cons. · Japanese GAAP
FYE Mar 2024	19.5	+9.5%	Cons. · Japanese GAAP
FYE Mar 2025	19.3	−1.0%	Cons. · Japanese GAAP
FYE Mar 2026	20.0	+3.5%	Cons. · Japanese GAAP

Definition: The cost of what was sold
Formula: Cost of sales line of the income statement
Source: Securities report (XBRL)

Gross profit

FYE Mar 2026 ¥30bn

CAGR · 10 yrs +10.7%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	12.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.5	+28.2%	Cons. · Japanese GAAP
FYE Mar 2019	17.1	+10.4%	Cons. · Japanese GAAP
FYE Mar 2020	19.5	+13.7%	Cons. · Japanese GAAP
FYE Mar 2021	21.2	+9.1%	Cons. · Japanese GAAP
FYE Mar 2022	24.1	+13.8%	Cons. · Japanese GAAP
FYE Mar 2023	23.5	−2.6%	Cons. · Japanese GAAP
FYE Mar 2024	24.6	+4.8%	Cons. · Japanese GAAP
FYE Mar 2025	24.8	+0.6%	Cons. · Japanese GAAP
FYE Mar 2026	30.3	+22.2%	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 ¥12bn

CAGR · 10 yrs +15.9%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.9	+27.8%	Cons. · Japanese GAAP
FYE Mar 2019	4.6	+17.7%	Cons. · Japanese GAAP
FYE Mar 2020	5.2	+13.7%	Cons. · Japanese GAAP
FYE Mar 2021	5.9	+13.0%	Cons. · Japanese GAAP
FYE Mar 2022	7.7	+31.1%	Cons. · Japanese GAAP
FYE Mar 2023	8.2	+6.5%	Cons. · Japanese GAAP
FYE Mar 2024	8.6	+4.3%	Cons. · Japanese GAAP
FYE Mar 2025	8.1	−5.9%	Cons. · Japanese GAAP
FYE Mar 2026	11.5	+42.8%	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 ¥19bn

CAGR · 10 yrs +8.4%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	9.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.6	+28.3%	Cons. · Japanese GAAP
FYE Mar 2019	12.5	+8.0%	Cons. · Japanese GAAP
FYE Mar 2020	14.2	+13.7%	Cons. · Japanese GAAP
FYE Mar 2021	15.3	+7.6%	Cons. · Japanese GAAP
FYE Mar 2022	16.4	+7.1%	Cons. · Japanese GAAP
FYE Mar 2023	15.3	−6.9%	Cons. · Japanese GAAP
FYE Mar 2024	16.1	+5.0%	Cons. · Japanese GAAP
FYE Mar 2025	16.7	+4.0%	Cons. · Japanese GAAP
FYE Mar 2026	18.8	+12.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥447m

CAGR · 10 yrs +27.1%

Fiscal year	Non-operating income ¥ m	YoY	Basis
FYE Mar 2017	51.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	76.0	+47.3%	Cons. · Japanese GAAP
FYE Mar 2019	21.2	−72.1%	Cons. · Japanese GAAP
FYE Mar 2020	228	+977.2%	Cons. · Japanese GAAP
FYE Mar 2021	156	−31.6%	Cons. · Japanese GAAP
FYE Mar 2022	458	+194.0%	Cons. · Japanese GAAP
FYE Mar 2023	223	−51.4%	Cons. · Japanese GAAP
FYE Mar 2024	564	+153.1%	Cons. · Japanese GAAP
FYE Mar 2025	335	−40.6%	Cons. · Japanese GAAP
FYE Mar 2026	447	+33.5%	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 ¥54.0m

CAGR · 10 yrs +8.0%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Mar 2017	27.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.7	−60.6%	Cons. · Japanese GAAP
FYE Mar 2019	21.2	+98.6%	Cons. · Japanese GAAP
FYE Mar 2020	7.7	−63.7%	Cons. · Japanese GAAP
FYE Mar 2021	23.3	+202.9%	Cons. · Japanese GAAP
FYE Mar 2022	24.5	+5.2%	Cons. · Japanese GAAP
FYE Mar 2023	48.2	+96.5%	Cons. · Japanese GAAP
FYE Mar 2024	112	+132.3%	Cons. · Japanese GAAP
FYE Mar 2025	132	+17.8%	Cons. · Japanese GAAP
FYE Mar 2026	54.0	−59.1%	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 ¥19bn

CAGR · 10 yrs +8.7%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	9.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.7	+28.7%	Cons. · Japanese GAAP
FYE Mar 2019	12.5	+7.4%	Cons. · Japanese GAAP
FYE Mar 2020	14.5	+15.4%	Cons. · Japanese GAAP
FYE Mar 2021	15.5	+6.9%	Cons. · Japanese GAAP
FYE Mar 2022	16.9	+9.0%	Cons. · Japanese GAAP
FYE Mar 2023	15.5	−8.2%	Cons. · Japanese GAAP
FYE Mar 2024	16.5	+6.8%	Cons. · Japanese GAAP
FYE Mar 2025	16.9	+2.4%	Cons. · Japanese GAAP
FYE Mar 2026	19.2	+13.2%	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 ¥15.0m

CAGR · 10 yrs +74.5%

Fiscal year	Extraordinary income ¥ m	YoY	Basis
FYE Mar 2017	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2019	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	215	n/a	Cons. · Japanese GAAP
FYE Mar 2021	149	−30.8%	Cons. · Japanese GAAP
FYE Mar 2022	2.8	−98.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2024	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	10.5	+1005.3%	Cons. · Japanese GAAP
FYE Mar 2026	15.0	+42.9%	Cons. · Japanese GAAP

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

Extraordinary loss

FYE Mar 2026 n/a

Average · 9 yrs ¥25.0m

Fiscal year	Extraordinary loss ¥ 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	17.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	0.9	−94.8%	Cons. · Japanese GAAP
FYE Mar 2021	1.0	+13.3%	Cons. · Japanese GAAP
FYE Mar 2022	205	+20046.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−100.0%	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: 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 ¥12bn

CAGR · 10 yrs +8.1%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	6.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.1	+31.9%	Cons. · Japanese GAAP
FYE Mar 2019	8.9	+8.9%	Cons. · Japanese GAAP
FYE Mar 2020	10.3	+15.9%	Cons. · Japanese GAAP
FYE Mar 2021	10.7	+3.9%	Cons. · Japanese GAAP
FYE Mar 2022	11.4	+7.1%	Cons. · Japanese GAAP
FYE Mar 2023	9.8	−13.9%	Cons. · Japanese GAAP
FYE Mar 2024	10.7	+9.0%	Cons. · Japanese GAAP
FYE Mar 2025	11.0	+2.1%	Cons. · Japanese GAAP
FYE Mar 2026	12.5	+14.0%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 60.2%

Average · 10 yrs 59.7%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	63.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	62.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	60.1	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2020	60.8	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	61.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	59.8	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	56.9	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	55.8	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	56.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	60.2	+4.0pp	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 37.3%

Average · 10 yrs 41.7%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	47.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	47.1	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	44.0	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2020	44.5	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	44.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	40.7	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2023	37.0	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2024	36.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	37.9	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	37.3	−0.6pp	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 38.1%

Average · 10 yrs 42.2%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	47.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	47.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	44.0	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2020	45.2	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	44.5	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	41.7	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2023	37.5	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2024	37.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	38.4	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	38.1	−0.3pp	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 24.8%

Average · 10 yrs 28.6%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	32.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.1	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	31.2	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2020	32.1	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	30.7	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2022	28.3	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	23.8	−4.5pp	Cons. · Japanese GAAP
FYE Mar 2024	24.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	24.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	24.8	−0.0pp	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 39.8%

Average · 10 yrs 40.3%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	36.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	37.1	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	39.9	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2020	39.2	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	39.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	40.2	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	43.1	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	44.2	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	43.8	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	39.8	−4.0pp	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 22.9%

Average · 10 yrs 18.1%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	16.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	16.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	16.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	16.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	19.1	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2023	19.9	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	19.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	18.3	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	22.9	+4.6pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by selling and administrative costs
Formula: SG&A ÷ revenue
Source: Securities report (XBRL)

Balance sheet Assets, debt and equity, and what they say about financial strength

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥66bn

CAGR · 10 yrs +11.5%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	25.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	31.7	+27.1%	Cons. · Japanese GAAP
FYE Mar 2019	35.6	+12.4%	Cons. · Japanese GAAP
FYE Mar 2020	44.3	+24.3%	Cons. · Japanese GAAP
FYE Mar 2021	54.1	+22.2%	Cons. · Japanese GAAP
FYE Mar 2022	58.9	+8.9%	Cons. · Japanese GAAP
FYE Mar 2023	65.8	+11.6%	Cons. · Japanese GAAP
FYE Mar 2024	58.6	−10.8%	Cons. · Japanese GAAP
FYE Mar 2025	61.8	+5.4%	Cons. · Japanese GAAP
FYE Mar 2026	66.2	+7.2%	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 ¥50bn

CAGR · 10 yrs +13.5%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	16.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.0	+37.1%	Cons. · Japanese GAAP
FYE Mar 2019	27.2	+23.3%	Cons. · Japanese GAAP
FYE Mar 2020	35.9	+32.0%	Cons. · Japanese GAAP
FYE Mar 2021	44.5	+23.9%	Cons. · Japanese GAAP
FYE Mar 2022	50.8	+14.1%	Cons. · Japanese GAAP
FYE Mar 2023	54.4	+7.3%	Cons. · Japanese GAAP
FYE Mar 2024	43.9	−19.4%	Cons. · Japanese GAAP
FYE Mar 2025	47.2	+7.4%	Cons. · Japanese GAAP
FYE Mar 2026	50.2	+6.4%	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 ¥4.0bn

CAGR · 10 yrs −1.3%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.5	−22.2%	Cons. · Japanese GAAP
FYE Mar 2019	2.5	−28.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.5	−40.0%	Cons. · Japanese GAAP
FYE Mar 2021	0.5	−66.7%	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	5.4	−14.3%	Cons. · Japanese GAAP
FYE Mar 2026	4.0	−25.9%	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 ¥1.9bn

Average · 10 yrs ¥0.2bn

Fiscal year	Short-term borrowings ¥ bn	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	1.9	n/a	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 ¥2.1bn

CAGR · 10 yrs −8.1%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.5	−22.2%	Cons. · Japanese GAAP
FYE Mar 2019	2.5	−28.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.5	−40.0%	Cons. · Japanese GAAP
FYE Mar 2021	0.5	−66.7%	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	5.4	−14.3%	Cons. · Japanese GAAP
FYE Mar 2026	2.1	−61.1%	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 ¥138m

CAGR · 10 yrs +7.3%

Fiscal year	Intangible assets ¥ m	YoY	Basis
FYE Mar 2017	73.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	51.1	−30.1%	Cons. · Japanese GAAP
FYE Mar 2019	25.4	−50.2%	Cons. · Japanese GAAP
FYE Mar 2020	148	+483.8%	Cons. · Japanese GAAP
FYE Mar 2021	187	+26.1%	Cons. · Japanese GAAP
FYE Mar 2022	231	+23.5%	Cons. · Japanese GAAP
FYE Mar 2023	298	+29.2%	Cons. · Japanese GAAP
FYE Mar 2024	174	−41.7%	Cons. · Japanese GAAP
FYE Mar 2025	134	−23.2%	Cons. · Japanese GAAP
FYE Mar 2026	138	+3.4%	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 75.8%

Average · 10 yrs 76.9%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	64.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.5	+5.1pp	Cons. · Japanese GAAP
FYE Mar 2019	76.3	+6.8pp	Cons. · Japanese GAAP
FYE Mar 2020	81.0	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2021	82.2	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2022	86.2	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2023	82.8	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2024	74.9	−7.9pp	Cons. · Japanese GAAP
FYE Mar 2025	76.4	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	75.8	−0.6pp	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 8.0%

Average · 10 yrs 9.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	28.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.9	−12.1pp	Cons. · Japanese GAAP
FYE Mar 2019	9.2	−6.7pp	Cons. · Japanese GAAP
FYE Mar 2020	4.2	−5.0pp	Cons. · Japanese GAAP
FYE Mar 2021	1.1	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	14.3	+14.3pp	Cons. · Japanese GAAP
FYE Mar 2025	11.4	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2026	8.0	−3.5pp	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 24.9%

Average · 10 yrs 27.4%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	38.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	37.0	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	32.6	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2020	28.6	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2021	24.0	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2022	22.5	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	18.1	−4.5pp	Cons. · Japanese GAAP
FYE Mar 2024	24.4	+6.4pp	Cons. · Japanese GAAP
FYE Mar 2025	23.2	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	24.9	+1.7pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 18.9%

Average · 10 yrs 20.8%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	24.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.7	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	24.9	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	23.2	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	19.7	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2022	19.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	15.0	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2024	18.3	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2025	17.7	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	18.9	+1.1pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.76×

CAGR · 10 yrs −0.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.76	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.78	+1.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.80	+2.8%	Cons. · Japanese GAAP
FYE Mar 2020	0.72	−9.5%	Cons. · Japanese GAAP
FYE Mar 2021	0.64	−11.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.69	+6.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.63	−8.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.75	+19.8%	Cons. · Japanese GAAP
FYE Mar 2025	0.71	−5.2%	Cons. · Japanese GAAP
FYE Mar 2026	0.76	+6.4%	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 ¥16bn

CAGR · 10 yrs +8.0%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.8	+26.3%	Cons. · Japanese GAAP
FYE Mar 2019	6.9	−29.5%	Cons. · Japanese GAAP
FYE Mar 2020	10.3	+49.2%	Cons. · Japanese GAAP
FYE Mar 2021	11.5	+11.1%	Cons. · Japanese GAAP
FYE Mar 2022	11.1	−3.1%	Cons. · Japanese GAAP
FYE Mar 2023	8.2	−26.5%	Cons. · Japanese GAAP
FYE Mar 2024	10.5	+29.1%	Cons. · Japanese GAAP
FYE Mar 2025	13.1	+24.6%	Cons. · Japanese GAAP
FYE Mar 2026	15.6	+18.6%	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 -¥4.3bn

Average · 10 yrs -¥0.5bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	1.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-8.1	−653.9%	Cons. · Japanese GAAP
FYE Mar 2019	-0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	22.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	0.3	−98.8%	Cons. · Japanese GAAP
FYE Mar 2023	-4.0	−1578.5%	Cons. · Japanese GAAP
FYE Mar 2024	-18.2	n/a	Cons. · Japanese GAAP
FYE Mar 2025	12.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-4.3	−136.0%	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 -¥11bn

Average · 10 yrs -¥6.3bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-3.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-3.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-5.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-6.1	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-15.2	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-8.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-10.6	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 ¥39bn

CAGR · 10 yrs +17.9%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	8.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.2	−19.1%	Cons. · Japanese GAAP
FYE Mar 2019	9.0	+24.3%	Cons. · Japanese GAAP
FYE Mar 2020	11.2	+24.3%	Cons. · Japanese GAAP
FYE Mar 2021	41.9	+274.5%	Cons. · Japanese GAAP
FYE Mar 2022	47.3	+13.0%	Cons. · Japanese GAAP
FYE Mar 2023	45.4	−4.0%	Cons. · Japanese GAAP
FYE Mar 2024	22.3	−50.9%	Cons. · Japanese GAAP
FYE Mar 2025	38.7	+73.6%	Cons. · Japanese GAAP
FYE Mar 2026	39.4	+1.9%	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 ¥11bn

CAGR · 10 yrs +2.2%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.7	−81.5%	Cons. · Japanese GAAP
FYE Mar 2019	6.3	+268.6%	Cons. · Japanese GAAP
FYE Mar 2020	4.5	−28.5%	Cons. · Japanese GAAP
FYE Mar 2021	33.8	+648.7%	Cons. · Japanese GAAP
FYE Mar 2022	11.4	−66.3%	Cons. · Japanese GAAP
FYE Mar 2023	4.2	−63.5%	Cons. · Japanese GAAP
FYE Mar 2024	-7.7	−284.8%	Cons. · Japanese GAAP
FYE Mar 2025	25.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	11.2	−55.2%	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 30.9%

Average · 10 yrs 30.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	40.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	24.3	−15.6pp	Cons. · Japanese GAAP
FYE Mar 2020	32.2	+7.9pp	Cons. · Japanese GAAP
FYE Mar 2021	32.9	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	27.5	−5.5pp	Cons. · Japanese GAAP
FYE Mar 2023	19.7	−7.7pp	Cons. · Japanese GAAP
FYE Mar 2024	23.9	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2025	29.8	+5.9pp	Cons. · Japanese GAAP
FYE Mar 2026	30.9	+1.2pp	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 ¥35bn

CAGR · 10 yrs +25.9%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	4.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.7	−15.9%	Cons. · Japanese GAAP
FYE Mar 2019	6.5	+73.8%	Cons. · Japanese GAAP
FYE Mar 2020	9.7	+49.0%	Cons. · Japanese GAAP
FYE Mar 2021	41.4	+327.4%	Cons. · Japanese GAAP
FYE Mar 2022	47.3	+14.4%	Cons. · Japanese GAAP
FYE Mar 2023	45.4	−4.0%	Cons. · Japanese GAAP
FYE Mar 2024	16.0	−64.7%	Cons. · Japanese GAAP
FYE Mar 2025	33.3	+108.2%	Cons. · Japanese GAAP
FYE Mar 2026	35.4	+6.4%	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 ¥212bn

Change · 10 yrs −¥81bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	293	n/a
FYE Mar 2018	599	n/a
FYE Mar 2019	497	n/a
FYE Mar 2020	491	n/a
FYE Mar 2021	1,007	n/a
FYE Mar 2022	581	n/a
FYE Mar 2023	332	n/a
FYE Mar 2024	333	n/a
FYE Mar 2025	194	n/a
FYE Mar 2026	212	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 630¥

Change · 10 yrs −2,991¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	3,621	n/a
FYE Mar 2018	7,318	n/a
FYE Mar 2019	3,033	n/a
FYE Mar 2020	2,956	n/a
FYE Mar 2021	5,986	n/a
FYE Mar 2022	1,727	n/a
FYE Mar 2023	985	n/a
FYE Mar 2024	988	n/a
FYE Mar 2025	577	n/a
FYE Mar 2026	630	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 336,934,800shares

Change · 10 yrs +256,015,200 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	80,919,600	Parent
FYE Mar 2018	81,900,600	Parent
FYE Mar 2019	163,855,200	Parent
FYE Mar 2020	166,065,200	Parent
FYE Mar 2021	168,268,400	Parent
FYE Mar 2022	336,556,800	Parent
FYE Mar 2023	336,934,800	Parent
FYE Mar 2024	336,934,800	Parent
FYE Mar 2025	336,934,800	Parent
FYE Mar 2026	336,934,800	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 39.36¥

Change · 10 yrs +20.06¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	19.30	Cons.
FYE Mar 2018	25.41	Cons.
FYE Mar 2019	27.57	Cons.
FYE Mar 2020	31.65	Cons.
FYE Mar 2021	32.46	Cons.
FYE Mar 2022	34.60	Cons.
FYE Mar 2023	29.76	Cons.
FYE Mar 2024	33.04	Cons.
FYE Mar 2025	34.54	Cons.
FYE Mar 2026	39.36	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 148.95¥

Change · 10 yrs −49.77¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	198.72	Cons. · Japanese GAAP
FYE Mar 2018	269.15	Cons. · Japanese GAAP
FYE Mar 2019	165.94	Cons. · Japanese GAAP
FYE Mar 2020	216.14	Cons. · Japanese GAAP
FYE Mar 2021	264.31	Cons. · Japanese GAAP
FYE Mar 2022	150.82	Cons. · Japanese GAAP
FYE Mar 2023	161.59	Cons. · Japanese GAAP
FYE Mar 2024	130.32	Cons. · Japanese GAAP
FYE Mar 2025	140.01	Cons. · Japanese GAAP
FYE Mar 2026	148.95	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 16.00×

Average · 10 yrs 45.84×

Fiscal year	PER ×	Basis
FYE Mar 2017	46.90	Cons.
FYE Mar 2018	72.00	Cons.
FYE Mar 2019	55.00	Cons.
FYE Mar 2020	46.70	Cons.
FYE Mar 2021	92.20	Cons.
FYE Mar 2022	49.90	Cons.
FYE Mar 2023	33.10	Cons.
FYE Mar 2024	29.90	Cons.
FYE Mar 2025	16.70	Cons.
FYE Mar 2026	16.00	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 3.98×

Average · 10 yrs 13.06×

Fiscal year	PBR ×	Basis
FYE Mar 2017	17.91	Cons.
FYE Mar 2018	26.75	Cons.
FYE Mar 2019	17.97	Cons.
FYE Mar 2020	13.44	Cons.
FYE Mar 2021	22.25	Cons.
FYE Mar 2022	11.25	Cons.
FYE Mar 2023	5.99	Cons.
FYE Mar 2024	7.14	Cons.
FYE Mar 2025	3.88	Cons.
FYE Mar 2026	3.98	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 1,062people

Change · 10 yrs +779 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	283	n/a	Cons.
FYE Mar 2018	337	+19.1%	Cons.
FYE Mar 2019	451	+33.8%	Cons.
FYE Mar 2020	582	+29.0%	Cons.
FYE Mar 2021	810	+39.2%	Cons.
FYE Mar 2022	972	+20.0%	Cons.
FYE Mar 2023	1,083	+11.4%	Cons.
FYE Mar 2024	1,043	−3.7%	Cons.
FYE Mar 2025	1,086	+4.1%	Cons.
FYE Mar 2026	1,062	−2.2%	Cons.

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

Parent-company employees

FYE Mar 2026 n/a

Change · 9 yrs −271 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	271	n/a	Parent
FYE Mar 2018	321	+18.5%	Parent
FYE Mar 2019	415	+29.3%	Parent
FYE Mar 2020	531	+28.0%	Parent
FYE Mar 2021	653	+23.0%	Parent
FYE Mar 2022	0	−100.0%	Parent
FYE Mar 2023	0	n/a	Parent
FYE Mar 2024	0	n/a	Parent
FYE Mar 2025	0	n/a	Parent
FYE Mar 2026	n/a	n/a	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 n/a

Change · 5 yrs −175万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	1,419	n/a	Parent
FYE Mar 2018	1,320	−7.0%	Parent
FYE Mar 2019	1,414	+7.1%	Parent
FYE Mar 2020	1,353	−4.3%	Parent
FYE Mar 2021	1,243	−8.1%	Parent
FYE Mar 2022	n/a	n/a	Parent
FYE Mar 2023	n/a	n/a	Parent
FYE Mar 2024	n/a	n/a	Parent
FYE Mar 2025	n/a	n/a	Parent
FYE Mar 2026	n/a	n/a	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 n/a

Change · 3 yrs −0.8 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	35.1	n/a	Parent
FYE Mar 2020	34.7	−1.1%	Parent
FYE Mar 2021	34.3	−1.2%	Parent
FYE Mar 2022	n/a	n/a	Parent
FYE Mar 2023	n/a	n/a	Parent
FYE Mar 2024	n/a	n/a	Parent
FYE Mar 2025	n/a	n/a	Parent
FYE Mar 2026	n/a	n/a	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 n/a

Change · 5 yrs −0.5 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	3.9	n/a	Parent
FYE Mar 2018	4.1	+5.1%	Parent
FYE Mar 2019	3.8	−7.3%	Parent
FYE Mar 2020	3.5	−7.9%	Parent
FYE Mar 2021	3.4	−2.9%	Parent
FYE Mar 2022	n/a	n/a	Parent
FYE Mar 2023	n/a	n/a	Parent
FYE Mar 2024	n/a	n/a	Parent
FYE Mar 2025	n/a	n/a	Parent
FYE Mar 2026	n/a	n/a	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 89people

Change · 10 yrs +65 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	24	n/a	n/a
FYE Mar 2018	40	+66.7%	n/a
FYE Mar 2019	66	+65.0%	n/a
FYE Mar 2020	70	+6.1%	n/a
FYE Mar 2021	66	−5.7%	n/a
FYE Mar 2022	102	+54.5%	n/a
FYE Mar 2023	131	+28.4%	n/a
FYE Mar 2024	96	−26.7%	n/a
FYE Mar 2025	90	−6.2%	n/a
FYE Mar 2026	89	−1.1%	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 ¥47.3m

Change · 10 yrs −¥20.1m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	67.4	n/a	Cons.
FYE Mar 2018	73.1	+8.4%	Cons.
FYE Mar 2019	63.1	−13.6%	Cons.
FYE Mar 2020	55.0	−12.9%	Cons.
FYE Mar 2021	43.0	−21.9%	Cons.
FYE Mar 2022	41.6	−3.2%	Cons.
FYE Mar 2023	38.1	−8.2%	Cons.
FYE Mar 2024	42.3	+10.9%	Cons.
FYE Mar 2025	40.6	−4.1%	Cons.
FYE Mar 2026	47.3	+16.6%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥17.7m

Change · 10 yrs −¥14.3m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	32.0	n/a	Cons.
FYE Mar 2018	34.4	+7.7%	Cons.
FYE Mar 2019	27.8	−19.3%	Cons.
FYE Mar 2020	24.5	−11.9%	Cons.
FYE Mar 2021	18.9	−22.7%	Cons.
FYE Mar 2022	16.9	−10.7%	Cons.
FYE Mar 2023	14.1	−16.4%	Cons.
FYE Mar 2024	15.4	+9.1%	Cons.
FYE Mar 2025	15.4	−0.1%	Cons.
FYE Mar 2026	17.7	+14.8%	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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