Financials

Pasona Group: FYE May 2026 and ten years of results (50 metrics)

FYE May 2026 · Revenue¥308bnYoY −0.2%

FYE May 2026 · Operating profit-¥1.1bn

FYE May 2026 · Net profit-¥3.4bn

FYE May 2026 · Equity ratio53.9%YoY +3.0pp

FYE May 2026 · Group employees9,028YoY +134

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE May 2017Consolidated	¥280bn	n/a	¥4.5bn	n/a	1.6%	-¥0.1bn	Nambu Yasuyuki	Oasis Management launches “A Better Pasona”
FYE May 2018Consolidated	¥311bn	+11.1%	¥6.5bn	+45.7%	2.1%	¥1.3bn	Nambu Yasuyuki	Oasis’s shareholder proposals voted down
FYE May 2019Consolidated	¥327bn	+5.0%	¥9.5bn	+44.7%	2.9%	¥2.0bn	Nambu Yasuyuki	—
FYE May 2020Consolidated	¥325bn	−0.6%	¥11bn	+11.7%	3.3%	¥0.6bn	Nambu Yasuyuki	Announces moving main HQ functions to Awaji Island
FYE May 2021Consolidated	¥335bn	+2.9%	¥20bn	+88.5%	6.0%	¥6.8bn	Nambu Yasuyuki	—
FYE May 2022Consolidated	¥366bn	+9.4%	¥22bn	+10.7%	6.0%	¥8.6bn	Nambu Yasuyuki	—
FYE May 2023Consolidated	¥373bn	+1.8%	¥14bn	−34.9%	3.9%	¥6.1bn	Nambu Yasuyuki	Dai-ichi Life bids for Benefit One
FYE May 2024Consolidated	¥357bn	−4.3%	¥6.8bn	−52.7%	1.9%	¥96bn	Nambu Yasuyuki	Sells its entire Benefit One stake; Hirotaka Wakamoto becomes CEO
FYE May 2025Consolidated	¥309bn	−13.3%	-¥1.2bn	−118.2%	-0.4%	-¥8.7bn	Nambu Yasuyuki	First consolidated operating loss since listing
FYE May 2026Consolidated	¥308bn	−0.2%	-¥1.1bn	n/a	-0.4%	-¥3.4bn	Nakao Shintaro	—

How it compares

Recruit Holdings¥3.70tnFY2025Operating margin 17.1%Persol Holdings¥1.56tnFY2025Operating margin 4.3%

Goodwill Group, Inc.Delisted 2009

Pasona Group¥308bnFY2026Operating margin −0.4%

TechnoPro HoldingsDelisted 2025

Open Up Group¥167bnFY2026Operating margin 10.0%Meitec Group Holdings¥138bnFY2025Operating margin 14.5%Visional¥80bnFY2025Operating margin 26.7%

SMS Co., Ltd.¥65bnFY2025Operating margin 10.5%

Dip¥55bnFY2025Operating margin 16.6%

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 May 2026 ¥308bn

CAGR · 10 yrs +1.1%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE May 2017	280	n/a	Cons. · Japanese GAAP
FYE May 2018	311	+11.1%	Cons. · Japanese GAAP
FYE May 2019	327	+5.0%	Cons. · Japanese GAAP
FYE May 2020	325	−0.6%	Cons. · Japanese GAAP
FYE May 2021	335	+2.9%	Cons. · Japanese GAAP
FYE May 2022	366	+9.4%	Cons. · Japanese GAAP
FYE May 2023	373	+1.8%	Cons. · Japanese GAAP
FYE May 2024	357	−4.3%	Cons. · Japanese GAAP
FYE May 2025	309	−13.3%	Cons. · Japanese GAAP
FYE May 2026	308	−0.2%	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 May 2026 ¥238bn

CAGR · 10 yrs +0.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE May 2017	224	n/a	Cons. · Japanese GAAP
FYE May 2018	244	+9.2%	Cons. · Japanese GAAP
FYE May 2019	252	+3.2%	Cons. · Japanese GAAP
FYE May 2020	248	−1.6%	Cons. · Japanese GAAP
FYE May 2021	252	+1.3%	Cons. · Japanese GAAP
FYE May 2022	276	+9.9%	Cons. · Japanese GAAP
FYE May 2023	281	+1.7%	Cons. · Japanese GAAP
FYE May 2024	272	−3.3%	Cons. · Japanese GAAP
FYE May 2025	241	−11.3%	Cons. · Japanese GAAP
FYE May 2026	238	−1.3%	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 May 2026 ¥70bn

CAGR · 10 yrs +2.4%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE May 2017	56.6	n/a	Cons. · Japanese GAAP
FYE May 2018	67.0	+18.4%	Cons. · Japanese GAAP
FYE May 2019	74.7	+11.5%	Cons. · Japanese GAAP
FYE May 2020	76.7	+2.6%	Cons. · Japanese GAAP
FYE May 2021	83.0	+8.2%	Cons. · Japanese GAAP
FYE May 2022	89.7	+8.1%	Cons. · Japanese GAAP
FYE May 2023	91.5	+2.1%	Cons. · Japanese GAAP
FYE May 2024	84.8	−7.3%	Cons. · Japanese GAAP
FYE May 2025	68.0	−19.9%	Cons. · Japanese GAAP
FYE May 2026	70.3	+3.4%	Cons. · Japanese GAAP

Definition: What the product or service itself earns
Formula: Revenue − cost of sales
Source: Securities report (XBRL)

SG&A selling, general and administrative expenses

FYE May 2026 ¥71bn

CAGR · 10 yrs +3.6%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE May 2017	52.1	n/a	Cons. · Japanese GAAP
FYE May 2018	60.5	+16.0%	Cons. · Japanese GAAP
FYE May 2019	65.2	+7.9%	Cons. · Japanese GAAP
FYE May 2020	66.1	+1.3%	Cons. · Japanese GAAP
FYE May 2021	63.0	−4.7%	Cons. · Japanese GAAP
FYE May 2022	67.6	+7.2%	Cons. · Japanese GAAP
FYE May 2023	77.1	+14.1%	Cons. · Japanese GAAP
FYE May 2024	78.0	+1.1%	Cons. · Japanese GAAP
FYE May 2025	69.2	−11.3%	Cons. · Japanese GAAP
FYE May 2026	71.4	+3.2%	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 May 2026 -¥1.1bn

Average · 10 yrs ¥9.2bn

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE May 2017	4.5	n/a	Cons. · Japanese GAAP
FYE May 2018	6.5	+45.7%	Cons. · Japanese GAAP
FYE May 2019	9.5	+44.7%	Cons. · Japanese GAAP
FYE May 2020	10.6	+11.7%	Cons. · Japanese GAAP
FYE May 2021	19.9	+88.5%	Cons. · Japanese GAAP
FYE May 2022	22.1	+10.7%	Cons. · Japanese GAAP
FYE May 2023	14.4	−34.9%	Cons. · Japanese GAAP
FYE May 2024	6.8	−52.7%	Cons. · Japanese GAAP
FYE May 2025	-1.2	−118.2%	Cons. · Japanese GAAP
FYE May 2026	-1.1	n/a	Cons. · Japanese GAAP

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

Non-operating income

FYE May 2026 ¥2.4bn

CAGR · 10 yrs +24.3%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE May 2017	0.3	n/a	Cons. · Japanese GAAP
FYE May 2018	1.0	+189.4%	Cons. · Japanese GAAP
FYE May 2019	1.1	+11.0%	Cons. · Japanese GAAP
FYE May 2020	1.2	+9.0%	Cons. · Japanese GAAP
FYE May 2021	1.7	+43.6%	Cons. · Japanese GAAP
FYE May 2022	2.0	+16.8%	Cons. · Japanese GAAP
FYE May 2023	1.8	−10.2%	Cons. · Japanese GAAP
FYE May 2024	1.1	−36.0%	Cons. · Japanese GAAP
FYE May 2025	1.3	+17.6%	Cons. · Japanese GAAP
FYE May 2026	2.4	+78.6%	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 May 2026 ¥1.1bn

CAGR · 10 yrs +9.1%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE May 2017	0.5	n/a	Cons. · Japanese GAAP
FYE May 2018	0.9	+75.0%	Cons. · Japanese GAAP
FYE May 2019	1.3	+48.3%	Cons. · Japanese GAAP
FYE May 2020	1.5	+16.0%	Cons. · Japanese GAAP
FYE May 2021	1.3	−17.3%	Cons. · Japanese GAAP
FYE May 2022	1.6	+24.7%	Cons. · Japanese GAAP
FYE May 2023	0.8	−49.4%	Cons. · Japanese GAAP
FYE May 2024	0.8	−1.4%	Cons. · Japanese GAAP
FYE May 2025	0.6	−27.8%	Cons. · Japanese GAAP
FYE May 2026	1.1	+96.5%	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 May 2026 ¥0.1bn

CAGR · 10 yrs −31.8%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE May 2017	4.3	n/a	Cons. · Japanese GAAP
FYE May 2018	6.6	+53.5%	Cons. · Japanese GAAP
FYE May 2019	9.2	+39.3%	Cons. · Japanese GAAP
FYE May 2020	10.2	+10.8%	Cons. · Japanese GAAP
FYE May 2021	20.4	+99.1%	Cons. · Japanese GAAP
FYE May 2022	22.5	+10.4%	Cons. · Japanese GAAP
FYE May 2023	15.4	−31.7%	Cons. · Japanese GAAP
FYE May 2024	7.2	−53.5%	Cons. · Japanese GAAP
FYE May 2025	-0.5	−106.4%	Cons. · Japanese GAAP
FYE May 2026	0.1	n/a	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 May 2026 ¥0.9bn

CAGR · 10 yrs +43.3%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE May 2017	0.0	n/a	Cons. · Japanese GAAP
FYE May 2018	0.6	+1569.4%	Cons. · Japanese GAAP
FYE May 2019	0.0	−97.2%	Cons. · Japanese GAAP
FYE May 2020	0.1	+205.9%	Cons. · Japanese GAAP
FYE May 2021	0.0	−90.4%	Cons. · Japanese GAAP
FYE May 2022	0.0	+460.0%	Cons. · Japanese GAAP
FYE May 2023	1.5	+5364.3%	Cons. · Japanese GAAP
FYE May 2024	112	+7224.2%	Cons. · Japanese GAAP
FYE May 2025	0.2	−99.8%	Cons. · Japanese GAAP
FYE May 2026	0.9	+415.7%	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 May 2026 -¥3.4bn

Average · 10 yrs ¥11bn

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE May 2017	-0.1	n/a	Cons. · Japanese GAAP
FYE May 2018	1.3	n/a	Cons. · Japanese GAAP
FYE May 2019	2.0	+53.3%	Cons. · Japanese GAAP
FYE May 2020	0.6	−69.9%	Cons. · Japanese GAAP
FYE May 2021	6.8	+1042.1%	Cons. · Japanese GAAP
FYE May 2022	8.6	+27.1%	Cons. · Japanese GAAP
FYE May 2023	6.1	−29.3%	Cons. · Japanese GAAP
FYE May 2024	95.9	+1472.2%	Cons. · Japanese GAAP
FYE May 2025	-8.7	−109.0%	Cons. · Japanese GAAP
FYE May 2026	-3.4	n/a	Cons. · Japanese GAAP

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

Gross margin

FYE May 2026 22.8%

Average · 10 yrs 23.1%

Fiscal year	Gross margin %	YoY	Basis
FYE May 2017	20.2	n/a	Cons. · Japanese GAAP
FYE May 2018	21.5	+1.3pp	Cons. · Japanese GAAP
FYE May 2019	22.8	+1.3pp	Cons. · Japanese GAAP
FYE May 2020	23.6	+0.7pp	Cons. · Japanese GAAP
FYE May 2021	24.8	+1.2pp	Cons. · Japanese GAAP
FYE May 2022	24.5	−0.3pp	Cons. · Japanese GAAP
FYE May 2023	24.6	+0.1pp	Cons. · Japanese GAAP
FYE May 2024	23.8	−0.8pp	Cons. · Japanese GAAP
FYE May 2025	22.0	−1.8pp	Cons. · Japanese GAAP
FYE May 2026	22.8	+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 May 2026 -0.4%

Average · 10 yrs 2.7%

Fiscal year	Operating margin %	YoY	Basis
FYE May 2017	1.6	n/a	Cons. · Japanese GAAP
FYE May 2018	2.1	+0.5pp	Cons. · Japanese GAAP
FYE May 2019	2.9	+0.8pp	Cons. · Japanese GAAP
FYE May 2020	3.3	+0.4pp	Cons. · Japanese GAAP
FYE May 2021	6.0	+2.7pp	Cons. · Japanese GAAP
FYE May 2022	6.0	+0.1pp	Cons. · Japanese GAAP
FYE May 2023	3.9	−2.2pp	Cons. · Japanese GAAP
FYE May 2024	1.9	−2.0pp	Cons. · Japanese GAAP
FYE May 2025	-0.4	−2.3pp	Cons. · Japanese GAAP
FYE May 2026	-0.4	−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 May 2026 0.0%

Average · 10 yrs 2.8%

Fiscal year	Ordinary margin %	YoY	Basis
FYE May 2017	1.5	n/a	Cons. · Japanese GAAP
FYE May 2018	2.1	+0.6pp	Cons. · Japanese GAAP
FYE May 2019	2.8	+0.7pp	Cons. · Japanese GAAP
FYE May 2020	3.1	+0.3pp	Cons. · Japanese GAAP
FYE May 2021	6.1	+2.9pp	Cons. · Japanese GAAP
FYE May 2022	6.1	+0.1pp	Cons. · Japanese GAAP
FYE May 2023	4.1	−2.0pp	Cons. · Japanese GAAP
FYE May 2024	2.0	−2.1pp	Cons. · Japanese GAAP
FYE May 2025	-0.1	−2.2pp	Cons. · Japanese GAAP
FYE May 2026	0.0	+0.2pp	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 May 2026 -1.1%

Average · 10 yrs 3.0%

Fiscal year	Net margin %	YoY	Basis
FYE May 2017	-0.0	n/a	Cons. · Japanese GAAP
FYE May 2018	0.4	+0.5pp	Cons. · Japanese GAAP
FYE May 2019	0.6	+0.2pp	Cons. · Japanese GAAP
FYE May 2020	0.2	−0.4pp	Cons. · Japanese GAAP
FYE May 2021	2.0	+1.8pp	Cons. · Japanese GAAP
FYE May 2022	2.4	+0.3pp	Cons. · Japanese GAAP
FYE May 2023	1.6	−0.7pp	Cons. · Japanese GAAP
FYE May 2024	26.9	+25.2pp	Cons. · Japanese GAAP
FYE May 2025	-2.8	−29.7pp	Cons. · Japanese GAAP
FYE May 2026	-1.1	+1.7pp	Cons. · Japanese GAAP

Definition: The share of revenue left after everything
Formula: Net profit ÷ revenue
Source: Securities report (XBRL)

Cost-of-sales ratio

FYE May 2026 77.2%

Average · 10 yrs 76.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE May 2017	79.8	n/a	Cons. · Japanese GAAP
FYE May 2018	78.5	−1.3pp	Cons. · Japanese GAAP
FYE May 2019	77.2	−1.3pp	Cons. · Japanese GAAP
FYE May 2020	76.4	−0.7pp	Cons. · Japanese GAAP
FYE May 2021	75.2	−1.2pp	Cons. · Japanese GAAP
FYE May 2022	75.5	+0.3pp	Cons. · Japanese GAAP
FYE May 2023	75.4	−0.1pp	Cons. · Japanese GAAP
FYE May 2024	76.2	+0.8pp	Cons. · Japanese GAAP
FYE May 2025	78.0	+1.8pp	Cons. · Japanese GAAP
FYE May 2026	77.2	−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 May 2026 23.2%

Average · 10 yrs 20.4%

Fiscal year	SG&A ratio %	YoY	Basis
FYE May 2017	18.6	n/a	Cons. · Japanese GAAP
FYE May 2018	19.4	+0.8pp	Cons. · Japanese GAAP
FYE May 2019	20.0	+0.5pp	Cons. · Japanese GAAP
FYE May 2020	20.3	+0.4pp	Cons. · Japanese GAAP
FYE May 2021	18.8	−1.5pp	Cons. · Japanese GAAP
FYE May 2022	18.5	−0.4pp	Cons. · Japanese GAAP
FYE May 2023	20.7	+2.2pp	Cons. · Japanese GAAP
FYE May 2024	21.9	+1.2pp	Cons. · Japanese GAAP
FYE May 2025	22.4	+0.5pp	Cons. · Japanese GAAP
FYE May 2026	23.2	+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 May 2026 ¥235bn

CAGR · 10 yrs +10.7%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE May 2017	94.6	n/a	Cons. · Japanese GAAP
FYE May 2018	112	+18.9%	Cons. · Japanese GAAP
FYE May 2019	119	+6.2%	Cons. · Japanese GAAP
FYE May 2020	140	+17.6%	Cons. · Japanese GAAP
FYE May 2021	152	+8.0%	Cons. · Japanese GAAP
FYE May 2022	204	+34.4%	Cons. · Japanese GAAP
FYE May 2023	276	+35.2%	Cons. · Japanese GAAP
FYE May 2024	301	+9.3%	Cons. · Japanese GAAP
FYE May 2025	265	−12.0%	Cons. · Japanese GAAP
FYE May 2026	235	−11.2%	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 May 2026 ¥127bn

CAGR · 10 yrs +23.4%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE May 2017	19.1	n/a	Cons. · Japanese GAAP
FYE May 2018	23.6	+24.0%	Cons. · Japanese GAAP
FYE May 2019	28.4	+20.0%	Cons. · Japanese GAAP
FYE May 2020	31.8	+12.2%	Cons. · Japanese GAAP
FYE May 2021	38.2	+20.0%	Cons. · Japanese GAAP
FYE May 2022	50.0	+31.0%	Cons. · Japanese GAAP
FYE May 2023	54.0	+8.0%	Cons. · Japanese GAAP
FYE May 2024	149	+174.9%	Cons. · Japanese GAAP
FYE May 2025	135	−9.1%	Cons. · Japanese GAAP
FYE May 2026	127	−6.0%	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 May 2026 ¥37bn

CAGR · 10 yrs +8.7%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE May 2017	17.4	n/a	Cons. · Japanese GAAP
FYE May 2018	20.3	+17.0%	Cons. · Japanese GAAP
FYE May 2019	22.2	+9.2%	Cons. · Japanese GAAP
FYE May 2020	31.8	+43.3%	Cons. · Japanese GAAP
FYE May 2021	30.4	−4.3%	Cons. · Japanese GAAP
FYE May 2022	48.4	+59.1%	Cons. · Japanese GAAP
FYE May 2023	53.8	+11.2%	Cons. · Japanese GAAP
FYE May 2024	38.7	−28.1%	Cons. · Japanese GAAP
FYE May 2025	29.7	−23.2%	Cons. · Japanese GAAP
FYE May 2026	36.7	+23.5%	Cons. · Japanese GAAP

Definition: Borrowings the company pays interest on
Formula: Loans + bonds + lease obligations
Source: Securities report (XBRL)

Short-term borrowings

FYE May 2026 ¥5.7bn

CAGR · 10 yrs +0.8%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE May 2017	5.4	n/a	Cons. · Japanese GAAP
FYE May 2018	6.2	+16.0%	Cons. · Japanese GAAP
FYE May 2019	9.4	+51.0%	Cons. · Japanese GAAP
FYE May 2020	8.6	−8.0%	Cons. · Japanese GAAP
FYE May 2021	9.4	+9.2%	Cons. · Japanese GAAP
FYE May 2022	9.6	+1.9%	Cons. · Japanese GAAP
FYE May 2023	10.3	+7.1%	Cons. · Japanese GAAP
FYE May 2024	9.3	−10.0%	Cons. · Japanese GAAP
FYE May 2025	6.0	−34.8%	Cons. · Japanese GAAP
FYE May 2026	5.7	−5.0%	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 May 2026 ¥31bn

CAGR · 10 yrs +11.1%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE May 2017	12.0	n/a	Cons. · Japanese GAAP
FYE May 2018	14.1	+17.5%	Cons. · Japanese GAAP
FYE May 2019	12.8	−9.3%	Cons. · Japanese GAAP
FYE May 2020	23.2	+80.8%	Cons. · Japanese GAAP
FYE May 2021	21.0	−9.4%	Cons. · Japanese GAAP
FYE May 2022	38.8	+84.7%	Cons. · Japanese GAAP
FYE May 2023	43.5	+12.2%	Cons. · Japanese GAAP
FYE May 2024	29.4	−32.4%	Cons. · Japanese GAAP
FYE May 2025	23.7	−19.6%	Cons. · Japanese GAAP
FYE May 2026	31.0	+30.8%	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 May 2026 ¥11bn

CAGR · 10 yrs +2.3%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE May 2017	9.1	n/a	Cons. · Japanese GAAP
FYE May 2018	9.6	+5.2%	Cons. · Japanese GAAP
FYE May 2019	8.3	−13.6%	Cons. · Japanese GAAP
FYE May 2020	7.2	−13.0%	Cons. · Japanese GAAP
FYE May 2021	6.4	−11.4%	Cons. · Japanese GAAP
FYE May 2022	23.2	+264.6%	Cons. · Japanese GAAP
FYE May 2023	26.6	+14.6%	Cons. · Japanese GAAP
FYE May 2024	5.0	−81.1%	Cons. · Japanese GAAP
FYE May 2025	7.6	+52.0%	Cons. · Japanese GAAP
FYE May 2026	11.2	+46.6%	Cons. · Japanese GAAP

Definition: Assets with no physical form
Formula: Intangible assets line of the balance sheet
Source: Securities report (XBRL)

Goodwill

FYE May 2026 ¥1.3bn

CAGR · 10 yrs −11.0%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE May 2017	3.7	n/a	Cons. · Japanese GAAP
FYE May 2018	3.9	+5.4%	Cons. · Japanese GAAP
FYE May 2019	3.0	−22.3%	Cons. · Japanese GAAP
FYE May 2020	2.1	−29.3%	Cons. · Japanese GAAP
FYE May 2021	1.6	−23.2%	Cons. · Japanese GAAP
FYE May 2022	6.8	+315.6%	Cons. · Japanese GAAP
FYE May 2023	7.4	+7.6%	Cons. · Japanese GAAP
FYE May 2024	0.8	−88.5%	Cons. · Japanese GAAP
FYE May 2025	0.8	−3.2%	Cons. · Japanese GAAP
FYE May 2026	1.3	+58.5%	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 May 2026 53.9%

Average · 10 yrs 31.1%

Fiscal year	Equity ratio %	YoY	Basis
FYE May 2017	20.1	n/a	Cons. · Japanese GAAP
FYE May 2018	21.0	+0.9pp	Cons. · Japanese GAAP
FYE May 2019	23.7	+2.7pp	Cons. · Japanese GAAP
FYE May 2020	22.7	−1.1pp	Cons. · Japanese GAAP
FYE May 2021	25.2	+2.5pp	Cons. · Japanese GAAP
FYE May 2022	24.5	−0.6pp	Cons. · Japanese GAAP
FYE May 2023	19.6	−4.9pp	Cons. · Japanese GAAP
FYE May 2024	49.3	+29.7pp	Cons. · Japanese GAAP
FYE May 2025	50.9	+1.6pp	Cons. · Japanese GAAP
FYE May 2026	53.9	+3.0pp	Cons. · Japanese GAAP

Definition: How much of the balance sheet is funded without debt
Formula: Equity ÷ total assets
Source: Securities report (XBRL)

Debt-to-equity ratio D/E ratio

FYE May 2026 28.9%

Average · 10 yrs 70.9%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE May 2017	91.2	n/a	Cons. · Japanese GAAP
FYE May 2018	86.1	−5.1pp	Cons. · Japanese GAAP
FYE May 2019	78.3	−7.8pp	Cons. · Japanese GAAP
FYE May 2020	100.0	+21.7pp	Cons. · Japanese GAAP
FYE May 2021	79.7	−20.3pp	Cons. · Japanese GAAP
FYE May 2022	96.8	+17.1pp	Cons. · Japanese GAAP
FYE May 2023	99.6	+2.8pp	Cons. · Japanese GAAP
FYE May 2024	26.1	−73.5pp	Cons. · Japanese GAAP
FYE May 2025	22.0	−4.0pp	Cons. · Japanese GAAP
FYE May 2026	28.9	+6.9pp	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 May 2026 -2.7%

Average · 10 yrs 11.5%

Fiscal year	ROE %	YoY	Basis
FYE May 2017	-0.7	n/a	Cons. · Japanese GAAP
FYE May 2018	5.5	+6.1pp	Cons. · Japanese GAAP
FYE May 2019	7.0	+1.5pp	Cons. · Japanese GAAP
FYE May 2020	1.9	−5.1pp	Cons. · Japanese GAAP
FYE May 2021	17.8	+15.9pp	Cons. · Japanese GAAP
FYE May 2022	17.2	−0.5pp	Cons. · Japanese GAAP
FYE May 2023	11.3	−5.9pp	Cons. · Japanese GAAP
FYE May 2024	64.6	+53.3pp	Cons. · Japanese GAAP
FYE May 2025	-6.4	−71.0pp	Cons. · Japanese GAAP
FYE May 2026	-2.7	+3.7pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE May 2026 -1.4%

Average · 10 yrs 4.1%

Fiscal year	ROA %	YoY	Basis
FYE May 2017	-0.1	n/a	Cons. · Japanese GAAP
FYE May 2018	1.1	+1.3pp	Cons. · Japanese GAAP
FYE May 2019	1.7	+0.5pp	Cons. · Japanese GAAP
FYE May 2020	0.4	−1.2pp	Cons. · Japanese GAAP
FYE May 2021	4.5	+4.1pp	Cons. · Japanese GAAP
FYE May 2022	4.2	−0.2pp	Cons. · Japanese GAAP
FYE May 2023	2.2	−2.0pp	Cons. · Japanese GAAP
FYE May 2024	31.8	+29.6pp	Cons. · Japanese GAAP
FYE May 2025	-3.3	−35.1pp	Cons. · Japanese GAAP
FYE May 2026	-1.4	+1.8pp	Cons. · Japanese GAAP

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

Asset turnover

FYE May 2026 1.31×

CAGR · 10 yrs −8.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE May 2017	2.96	n/a	Cons. · Japanese GAAP
FYE May 2018	2.77	−6.6%	Cons. · Japanese GAAP
FYE May 2019	2.74	−1.1%	Cons. · Japanese GAAP
FYE May 2020	2.31	−15.5%	Cons. · Japanese GAAP
FYE May 2021	2.21	−4.7%	Cons. · Japanese GAAP
FYE May 2022	1.80	−18.6%	Cons. · Japanese GAAP
FYE May 2023	1.35	−24.7%	Cons. · Japanese GAAP
FYE May 2024	1.18	−12.4%	Cons. · Japanese GAAP
FYE May 2025	1.17	−1.5%	Cons. · Japanese GAAP
FYE May 2026	1.31	+12.3%	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 May 2026 ¥2.9bn

CAGR · 10 yrs −8.5%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE May 2017	6.5	n/a	Cons. · Japanese GAAP
FYE May 2018	9.5	+47.0%	Cons. · Japanese GAAP
FYE May 2019	9.2	−3.4%	Cons. · Japanese GAAP
FYE May 2020	11.4	+24.4%	Cons. · Japanese GAAP
FYE May 2021	18.9	+65.2%	Cons. · Japanese GAAP
FYE May 2022	10.1	−46.4%	Cons. · Japanese GAAP
FYE May 2023	6.0	−41.1%	Cons. · Japanese GAAP
FYE May 2024	7.4	+24.1%	Cons. · Japanese GAAP
FYE May 2025	4.3	−41.5%	Cons. · Japanese GAAP
FYE May 2026	2.9	−33.0%	Cons. · Japanese GAAP

Definition: Cash the business itself generated
Formula: Cash flow from operating activities
Source: Securities report (XBRL)

Investing cash flow

FYE May 2026 -¥27bn

Average · 10 yrs -¥6.2bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE May 2017	-3.7	n/a	Cons. · Japanese GAAP
FYE May 2018	-12.0	n/a	Cons. · Japanese GAAP
FYE May 2019	-6.5	n/a	Cons. · Japanese GAAP
FYE May 2020	-7.0	n/a	Cons. · Japanese GAAP
FYE May 2021	-9.7	n/a	Cons. · Japanese GAAP
FYE May 2022	-29.6	n/a	Cons. · Japanese GAAP
FYE May 2023	-12.5	n/a	Cons. · Japanese GAAP
FYE May 2024	94.3	n/a	Cons. · Japanese GAAP
FYE May 2025	-47.6	−150.5%	Cons. · Japanese GAAP
FYE May 2026	-27.3	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 May 2026 ¥0.1bn

CAGR · 10 yrs −27.8%

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE May 2017	1.9	n/a	Cons. · Japanese GAAP
FYE May 2018	6.5	+243.7%	Cons. · Japanese GAAP
FYE May 2019	4.0	−39.0%	Cons. · Japanese GAAP
FYE May 2020	12.1	+205.5%	Cons. · Japanese GAAP
FYE May 2021	-5.1	−142.5%	Cons. · Japanese GAAP
FYE May 2022	23.5	n/a	Cons. · Japanese GAAP
FYE May 2023	-2.3	−109.7%	Cons. · Japanese GAAP
FYE May 2024	-12.9	n/a	Cons. · Japanese GAAP
FYE May 2025	-15.1	n/a	Cons. · Japanese GAAP
FYE May 2026	0.1	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 May 2026 ¥55bn

CAGR · 10 yrs +11.2%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE May 2017	21.1	n/a	Cons. · Japanese GAAP
FYE May 2018	25.1	+19.0%	Cons. · Japanese GAAP
FYE May 2019	31.8	+26.9%	Cons. · Japanese GAAP
FYE May 2020	48.1	+51.4%	Cons. · Japanese GAAP
FYE May 2021	52.3	+8.6%	Cons. · Japanese GAAP
FYE May 2022	56.6	+8.2%	Cons. · Japanese GAAP
FYE May 2023	47.9	−15.3%	Cons. · Japanese GAAP
FYE May 2024	137	+186.0%	Cons. · Japanese GAAP
FYE May 2025	78.7	−42.6%	Cons. · Japanese GAAP
FYE May 2026	54.6	−30.6%	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 May 2026 -¥24bn

Average · 10 yrs ¥2.5bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE May 2017	2.8	n/a	Cons. · Japanese GAAP
FYE May 2018	-2.5	−189.9%	Cons. · Japanese GAAP
FYE May 2019	2.7	n/a	Cons. · Japanese GAAP
FYE May 2020	4.5	+67.2%	Cons. · Japanese GAAP
FYE May 2021	9.2	+106.3%	Cons. · Japanese GAAP
FYE May 2022	-19.5	−312.0%	Cons. · Japanese GAAP
FYE May 2023	-6.5	n/a	Cons. · Japanese GAAP
FYE May 2024	102	n/a	Cons. · Japanese GAAP
FYE May 2025	-43.3	−142.6%	Cons. · Japanese GAAP
FYE May 2026	-24.4	n/a	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 May 2026 0.9%

Average · 10 yrs 2.6%

Fiscal year	OCF margin %	YoY	Basis
FYE May 2017	2.3	n/a	Cons. · Japanese GAAP
FYE May 2018	3.1	+0.7pp	Cons. · Japanese GAAP
FYE May 2019	2.8	−0.2pp	Cons. · Japanese GAAP
FYE May 2020	3.5	+0.7pp	Cons. · Japanese GAAP
FYE May 2021	5.6	+2.1pp	Cons. · Japanese GAAP
FYE May 2022	2.8	−2.9pp	Cons. · Japanese GAAP
FYE May 2023	1.6	−1.2pp	Cons. · Japanese GAAP
FYE May 2024	2.1	+0.5pp	Cons. · Japanese GAAP
FYE May 2025	1.4	−0.7pp	Cons. · Japanese GAAP
FYE May 2026	0.9	−0.5pp	Cons. · Japanese GAAP

Definition: How much of the revenue turned into cash
Formula: Operating cash flow ÷ revenue
Source: Securities report (XBRL)

Net cash

FYE May 2026 ¥18bn

CAGR · 10 yrs +19.2%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE May 2017	3.7	n/a	Cons. · Japanese GAAP
FYE May 2018	4.7	+28.1%	Cons. · Japanese GAAP
FYE May 2019	9.6	+103.3%	Cons. · Japanese GAAP
FYE May 2020	16.3	+70.4%	Cons. · Japanese GAAP
FYE May 2021	21.9	+33.8%	Cons. · Japanese GAAP
FYE May 2022	8.2	−62.6%	Cons. · Japanese GAAP
FYE May 2023	-5.9	−171.8%	Cons. · Japanese GAAP
FYE May 2024	98.4	n/a	Cons. · Japanese GAAP
FYE May 2025	49.0	−50.2%	Cons. · Japanese GAAP
FYE May 2026	17.9	−63.5%	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 May 2026 n/a

Change · 7 yrs +¥21bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE May 2017	n/a	n/a
FYE May 2018	70.6	n/a
FYE May 2019	69.7	n/a
FYE May 2020	53.4	n/a
FYE May 2021	78.8	n/a
FYE May 2022	87.2	n/a
FYE May 2023	72.7	n/a
FYE May 2024	91.8	n/a
FYE May 2025	n/a	n/a
FYE May 2026	n/a	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 May 2026 n/a

Change · 7 yrs +508¥

Fiscal year	Share price ¥	Basis
FYE May 2017	n/a	n/a
FYE May 2018	1,695	n/a
FYE May 2019	1,672	n/a
FYE May 2020	1,281	n/a
FYE May 2021	1,890	n/a
FYE May 2022	2,092	n/a
FYE May 2023	1,744	n/a
FYE May 2024	2,203	n/a
FYE May 2025	n/a	n/a
FYE May 2026	n/a	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 May 2026 40,190,300shares

Change · 10 yrs −1,500,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE May 2017	41,690,300	Parent
FYE May 2018	41,690,300	Parent
FYE May 2019	41,690,300	Parent
FYE May 2020	41,690,300	Parent
FYE May 2021	41,690,300	Parent
FYE May 2022	41,690,300	Parent
FYE May 2023	41,690,300	Parent
FYE May 2024	41,690,300	Parent
FYE May 2025	40,190,300	Parent
FYE May 2026	40,190,300	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 May 2026 -90.07¥

Change · 10 yrs −86.55¥

Fiscal year	EPS ¥	Basis
FYE May 2017	-3.52	Cons.
FYE May 2018	34.94	Cons.
FYE May 2019	50.52	Cons.
FYE May 2020	15.21	Cons.
FYE May 2021	173.36	Cons.
FYE May 2022	220.19	Cons.
FYE May 2023	155.70	Cons.
FYE May 2024	2,447.56	Cons.
FYE May 2025	-221.80	Cons.
FYE May 2026	-90.07	Cons.

Definition: Net profit for each share
Formula: Net profit ÷ average shares outstanding
Source: Securities report (XBRL)

BPS book value per share

FYE May 2026 3,157.18¥

Change · 10 yrs +2,700.09¥

Fiscal year	BPS ¥	Basis
FYE May 2017	457.08	Cons. · Japanese GAAP
FYE May 2018	566.75	Cons. · Japanese GAAP
FYE May 2019	680.13	Cons. · Japanese GAAP
FYE May 2020	763.06	Cons. · Japanese GAAP
FYE May 2021	915.70	Cons. · Japanese GAAP
FYE May 2022	1,199.49	Cons. · Japanese GAAP
FYE May 2023	1,295.70	Cons. · Japanese GAAP
FYE May 2024	3,562.12	Cons. · Japanese GAAP
FYE May 2025	3,357.48	Cons. · Japanese GAAP
FYE May 2026	3,157.18	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE May 2026 n/a

Average · 7 yrs 28.33×

Fiscal year	PER ×	Basis
FYE May 2017	n/a	Cons.
FYE May 2018	48.50	Cons.
FYE May 2019	33.10	Cons.
FYE May 2020	84.20	Cons.
FYE May 2021	10.90	Cons.
FYE May 2022	9.50	Cons.
FYE May 2023	11.20	Cons.
FYE May 2024	0.90	Cons.
FYE May 2025	n/a	Cons.
FYE May 2026	n/a	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 May 2026 n/a

Average · 7 yrs 1.73×

Fiscal year	PBR ×	Basis
FYE May 2017	n/a	Cons.
FYE May 2018	2.80	Cons.
FYE May 2019	2.31	Cons.
FYE May 2020	1.57	Cons.
FYE May 2021	1.94	Cons.
FYE May 2022	1.64	Cons.
FYE May 2023	1.26	Cons.
FYE May 2024	0.58	Cons.
FYE May 2025	n/a	Cons.
FYE May 2026	n/a	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 May 2026 9,028people

Change · 10 yrs +1,790 people

Fiscal year	Group employees people	YoY	Basis
FYE May 2017	7,238	n/a	Cons.
FYE May 2018	7,716	+6.6%	Cons.
FYE May 2019	7,855	+1.8%	Cons.
FYE May 2020	9,657	+22.9%	Cons.
FYE May 2021	9,498	−1.6%	Cons.
FYE May 2022	10,364	+9.1%	Cons.
FYE May 2023	9,786	−5.6%	Cons.
FYE May 2024	10,001	+2.2%	Cons.
FYE May 2025	8,894	−11.1%	Cons.
FYE May 2026	9,028	+1.5%	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 May 2026 795people

Change · 10 yrs +507 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE May 2017	288	n/a	Parent
FYE May 2018	318	+10.4%	Parent
FYE May 2019	538	+69.2%	Parent
FYE May 2020	661	+22.9%	Parent
FYE May 2021	645	−2.4%	Parent
FYE May 2022	674	+4.5%	Parent
FYE May 2023	731	+8.5%	Parent
FYE May 2024	770	+5.3%	Parent
FYE May 2025	880	+14.3%	Parent
FYE May 2026	795	−9.7%	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 May 2026 ¥6.5m

Change · 8 yrs +¥0.5m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE May 2017	n/a	n/a	Parent
FYE May 2018	n/a	n/a	Parent
FYE May 2019	6.0	n/a	Parent
FYE May 2020	6.1	+2.0%	Parent
FYE May 2021	6.0	−1.0%	Parent
FYE May 2022	6.2	+2.7%	Parent
FYE May 2023	6.2	+0.5%	Parent
FYE May 2024	6.3	+0.8%	Parent
FYE May 2025	6.3	+0.2%	Parent
FYE May 2026	6.5	+3.3%	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 May 2026 35.9years

Change · 8 yrs −4.5 years

Fiscal year	Average age years	YoY	Basis
FYE May 2017	n/a	n/a	Parent
FYE May 2018	n/a	n/a	Parent
FYE May 2019	40.4	n/a	Parent
FYE May 2020	36.0	−10.9%	Parent
FYE May 2021	37.9	+5.3%	Parent
FYE May 2022	36.8	−2.9%	Parent
FYE May 2023	36.3	−1.4%	Parent
FYE May 2024	36.2	−0.3%	Parent
FYE May 2025	34.9	−3.6%	Parent
FYE May 2026	35.9	+2.9%	Parent

Definition: Average age of the parent company's employees
Formula: Average age, from the employee section of the filing
Source: Securities report (XBRL)

Average length of service

FYE May 2026 9.2years

Change · 8 yrs −1.0 years

Fiscal year	Average length of service years	YoY	Basis
FYE May 2017	n/a	n/a	Parent
FYE May 2018	n/a	n/a	Parent
FYE May 2019	10.2	n/a	Parent
FYE May 2020	8.4	−17.6%	Parent
FYE May 2021	9.1	+8.3%	Parent
FYE May 2022	8.2	−9.9%	Parent
FYE May 2023	7.9	−3.7%	Parent
FYE May 2024	8.1	+2.5%	Parent
FYE May 2025	7.7	−4.9%	Parent
FYE May 2026	9.2	+19.5%	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 May 2026 13,403people

Change · 10 yrs +11,959 people

Fiscal year	Temporary employees people	YoY	Basis
FYE May 2017	1,444	n/a	n/a
FYE May 2018	1,358	−6.0%	n/a
FYE May 2019	1,462	+7.7%	n/a
FYE May 2020	9,931	+579.3%	n/a
FYE May 2021	12,291	+23.8%	n/a
FYE May 2022	13,124	+6.8%	n/a
FYE May 2023	15,132	+15.3%	n/a
FYE May 2024	15,045	−0.6%	n/a
FYE May 2025	14,088	−6.4%	n/a
FYE May 2026	13,403	−4.9%	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 May 2026 ¥34.2m

Change · 10 yrs −¥4.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE May 2017	38.7	n/a	Cons.
FYE May 2018	40.4	+4.2%	Cons.
FYE May 2019	41.6	+3.1%	Cons.
FYE May 2020	33.7	−19.2%	Cons.
FYE May 2021	35.2	+4.7%	Cons.
FYE May 2022	35.3	+0.3%	Cons.
FYE May 2023	38.1	+7.8%	Cons.
FYE May 2024	35.7	−6.3%	Cons.
FYE May 2025	34.8	−2.5%	Cons.
FYE May 2026	34.2	−1.7%	Cons.

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

Operating profit per employee

FYE May 2026 -¥0.1m

Change · 10 yrs −¥0.7m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE May 2017	0.6	n/a	Cons.
FYE May 2018	0.8	+36.7%	Cons.
FYE May 2019	1.2	+42.2%	Cons.
FYE May 2020	1.1	−9.1%	Cons.
FYE May 2021	2.1	+91.7%	Cons.
FYE May 2022	2.1	+1.5%	Cons.
FYE May 2023	1.5	−31.1%	Cons.
FYE May 2024	0.7	−53.8%	Cons.
FYE May 2025	-0.1	−120.5%	Cons.
FYE May 2026	-0.1	n/a	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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