Financials

KAMEDA SEIKA CO., LTD.: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥138bnYoY +33.7%

FYE Mar 2026 · Operating profit¥7.5bnYoY +36.9%

FYE Mar 2026 · Net profit¥25bnYoY +355.0%

FYE Mar 2026 · Equity ratio54.7%YoY −6.3pp

FYE Mar 2026 · Group employees4,533YoY +443

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥98bn	n/a	¥5.6bn	n/a	5.7%	¥2.7bn	Sato Isamu	—
FYE Mar 2018Consolidated	¥100bn	+1.3%	¥5.0bn	−10.9%	5.0%	¥4.1bn	Sato Isamu	—
FYE Mar 2019Consolidated	¥100bn	+0.5%	¥5.3bn	+6.6%	5.3%	¥4.4bn	Sato Isamu	Medium-term plan: from confectionery to food
FYE Mar 2020Consolidated	¥104bn	+3.8%	¥5.8bn	+8.9%	5.6%	¥4.5bn	Sato Isamu	Consolidated sales pass ¥100 billion
FYE Mar 2021Consolidated	¥103bn	−0.5%	¥5.6bn	−3.3%	5.4%	¥4.8bn	Sato Isamu	—
FYE Mar 2022Consolidated	¥85bn	−17.6%	¥4.8bn	−14.0%	5.7%	¥4.4bn	Sato Isamu	—
FYE Mar 2023Consolidated	¥95bn	+11.5%	¥3.6bn	−26.2%	3.8%	¥1.9bn	Sato Isamu	Cannot meet the demand a rival’s shutdown creates; Juneja becomes chairman and CEO
FYE Mar 2024Consolidated	¥96bn	+0.6%	¥4.5bn	+25.3%	4.7%	¥2.3bn	Takagi Masanori	Growth strategy to 2030; profit prioritised over volume
FYE Mar 2025Consolidated	¥103bn	+8.1%	¥5.5bn	+23.1%	5.3%	¥5.4bn	Takagi Masanori	—
FYE Mar 2026Consolidated	¥138bn	+33.7%	¥7.5bn	+36.9%	5.5%	¥25bn	Takagi Masanori	Sells Mary’s Gone Crackers; takes full ownership of TH FOODS

How it compares

Meiji Seika Kaisha, Ltd.Delisted 2009

Ezaki Glico¥361bnFY2025Operating margin 2.4%Calbee¥340bnFY2025Operating margin 7.7%Morinaga & Co.¥237bnFY2025Operating margin 9.5%

KAMEDA SEIKA CO., LTD.¥138bnFY2025Operating margin 5.5%

BOURBON CORPORATION¥120bnFY2025Operating margin 6.2%

FUJIYA CO., LTD.¥120bnFY2025Operating margin 2.4%

Kotobuki Spirits¥79bnFY2025Operating margin 23.6%

Koikeya¥61bnFY2025Operating margin 6.3%

Nakamuraya¥37bnFY2025Operating margin 3.5%

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 ¥138bn

CAGR · 10 yrs +3.9%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	98.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	99.5	+1.3%	Cons. · Japanese GAAP
FYE Mar 2019	100	+0.5%	Cons. · Japanese GAAP
FYE Mar 2020	104	+3.8%	Cons. · Japanese GAAP
FYE Mar 2021	103	−0.5%	Cons. · Japanese GAAP
FYE Mar 2022	85.2	−17.6%	Cons. · Japanese GAAP
FYE Mar 2023	95.0	+11.5%	Cons. · Japanese GAAP
FYE Mar 2024	95.5	+0.6%	Cons. · Japanese GAAP
FYE Mar 2025	103	+8.1%	Cons. · Japanese GAAP
FYE Mar 2026	138	+33.7%	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 ¥98bn

CAGR · 10 yrs +6.6%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	55.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	57.8	+4.1%	Cons. · Japanese GAAP
FYE Mar 2019	57.3	−0.9%	Cons. · Japanese GAAP
FYE Mar 2020	58.8	+2.6%	Cons. · Japanese GAAP
FYE Mar 2021	58.7	−0.2%	Cons. · Japanese GAAP
FYE Mar 2022	61.3	+4.5%	Cons. · Japanese GAAP
FYE Mar 2023	70.5	+15.0%	Cons. · Japanese GAAP
FYE Mar 2024	69.8	−1.0%	Cons. · Japanese GAAP
FYE Mar 2025	75.2	+7.8%	Cons. · Japanese GAAP
FYE Mar 2026	98.3	+30.7%	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 ¥40bn

CAGR · 10 yrs −0.8%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	42.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.7	−2.3%	Cons. · Japanese GAAP
FYE Mar 2019	42.8	+2.6%	Cons. · Japanese GAAP
FYE Mar 2020	45.0	+5.3%	Cons. · Japanese GAAP
FYE Mar 2021	44.6	−0.9%	Cons. · Japanese GAAP
FYE Mar 2022	23.9	−46.5%	Cons. · Japanese GAAP
FYE Mar 2023	24.5	+2.8%	Cons. · Japanese GAAP
FYE Mar 2024	25.8	+5.1%	Cons. · Japanese GAAP
FYE Mar 2025	28.1	+8.9%	Cons. · Japanese GAAP
FYE Mar 2026	39.8	+41.7%	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 ¥32bn

CAGR · 10 yrs −1.5%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	37.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.7	−1.0%	Cons. · Japanese GAAP
FYE Mar 2019	37.5	+2.0%	Cons. · Japanese GAAP
FYE Mar 2020	39.2	+4.7%	Cons. · Japanese GAAP
FYE Mar 2021	39.0	−0.5%	Cons. · Japanese GAAP
FYE Mar 2022	19.0	−51.2%	Cons. · Japanese GAAP
FYE Mar 2023	21.0	+10.1%	Cons. · Japanese GAAP
FYE Mar 2024	21.3	+1.6%	Cons. · Japanese GAAP
FYE Mar 2025	22.6	+5.9%	Cons. · Japanese GAAP
FYE Mar 2026	32.2	+42.9%	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 ¥7.5bn

CAGR · 10 yrs +3.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.0	−10.9%	Cons. · Japanese GAAP
FYE Mar 2019	5.3	+6.6%	Cons. · Japanese GAAP
FYE Mar 2020	5.8	+8.9%	Cons. · Japanese GAAP
FYE Mar 2021	5.6	−3.3%	Cons. · Japanese GAAP
FYE Mar 2022	4.8	−14.0%	Cons. · Japanese GAAP
FYE Mar 2023	3.6	−26.2%	Cons. · Japanese GAAP
FYE Mar 2024	4.5	+25.3%	Cons. · Japanese GAAP
FYE Mar 2025	5.5	+23.1%	Cons. · Japanese GAAP
FYE Mar 2026	7.5	+36.9%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥0.7bn

CAGR · 10 yrs −9.2%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.7	+3.7%	Cons. · Japanese GAAP
FYE Mar 2019	1.4	−14.3%	Cons. · Japanese GAAP
FYE Mar 2020	1.4	−4.7%	Cons. · Japanese GAAP
FYE Mar 2021	1.4	+4.2%	Cons. · Japanese GAAP
FYE Mar 2022	1.4	−4.6%	Cons. · Japanese GAAP
FYE Mar 2023	1.8	+33.0%	Cons. · Japanese GAAP
FYE Mar 2024	2.5	+38.4%	Cons. · Japanese GAAP
FYE Mar 2025	2.0	−18.8%	Cons. · Japanese GAAP
FYE Mar 2026	0.7	−66.7%	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 ¥701m

CAGR · 10 yrs +23.5%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Mar 2017	105	n/a	Cons. · Japanese GAAP
FYE Mar 2018	223	+112.4%	Cons. · Japanese GAAP
FYE Mar 2019	194	−13.0%	Cons. · Japanese GAAP
FYE Mar 2020	268	+38.1%	Cons. · Japanese GAAP
FYE Mar 2021	151	−43.7%	Cons. · Japanese GAAP
FYE Mar 2022	119	−21.2%	Cons. · Japanese GAAP
FYE Mar 2023	152	+27.7%	Cons. · Japanese GAAP
FYE Mar 2024	163	+7.2%	Cons. · Japanese GAAP
FYE Mar 2025	608	+273.0%	Cons. · Japanese GAAP
FYE Mar 2026	701	+15.3%	Cons. · Japanese GAAP

Definition: Costs arising outside the core business
Formula: Non-operating expenses line of the income statement
Source: Securities report (XBRL)

Ordinary profit keijo rieki

FYE Mar 2026 ¥7.5bn

CAGR · 10 yrs +0.6%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.5	−9.4%	Cons. · Japanese GAAP
FYE Mar 2019	6.6	+1.9%	Cons. · Japanese GAAP
FYE Mar 2020	6.9	+5.1%	Cons. · Japanese GAAP
FYE Mar 2021	6.9	−0.3%	Cons. · Japanese GAAP
FYE Mar 2022	6.1	−11.9%	Cons. · Japanese GAAP
FYE Mar 2023	5.2	−14.1%	Cons. · Japanese GAAP
FYE Mar 2024	6.8	+30.4%	Cons. · Japanese GAAP
FYE Mar 2025	6.9	+1.7%	Cons. · Japanese GAAP
FYE Mar 2026	7.5	+8.5%	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 ¥21bn

CAGR · 9 yrs +52.0%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	−99.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.5	+9440.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.1	−83.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.0	−42.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.7	+1487.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.3	−54.1%	Cons. · Japanese GAAP
FYE Mar 2024	0.9	+172.8%	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	21.2	n/a	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 ¥25bn

CAGR · 10 yrs +27.8%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.1	+52.1%	Cons. · Japanese GAAP
FYE Mar 2019	4.4	+7.1%	Cons. · Japanese GAAP
FYE Mar 2020	4.5	+1.4%	Cons. · Japanese GAAP
FYE Mar 2021	4.8	+6.6%	Cons. · Japanese GAAP
FYE Mar 2022	4.4	−7.1%	Cons. · Japanese GAAP
FYE Mar 2023	1.9	−57.2%	Cons. · Japanese GAAP
FYE Mar 2024	2.3	+19.3%	Cons. · Japanese GAAP
FYE Mar 2025	5.4	+140.0%	Cons. · Japanese GAAP
FYE Mar 2026	24.6	+355.0%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 28.8%

Average · 10 yrs 35.2%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	43.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.9	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	42.8	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	43.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	43.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	28.0	−15.2pp	Cons. · Japanese GAAP
FYE Mar 2023	25.8	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	27.0	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2025	27.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	28.8	+1.6pp	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 5.5%

Average · 10 yrs 5.2%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.0	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	5.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	5.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	5.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	5.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	3.8	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	4.7	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	5.3	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	5.5	+0.1pp	Cons. · Japanese GAAP

Definition: The share of revenue the core business keeps
Formula: Operating profit ÷ revenue
Source: Securities report (XBRL)

Ordinary margin

FYE Mar 2026 5.4%

Average · 10 yrs 6.5%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.5	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	6.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	6.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	6.7	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	7.1	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	5.5	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2024	7.1	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	6.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	5.4	−1.3pp	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 17.9%

Average · 10 yrs 5.3%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.1	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	4.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	4.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	4.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	5.2	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	2.0	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2024	2.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	5.2	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2026	17.9	+12.6pp	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 71.2%

Average · 10 yrs 64.8%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	56.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	58.1	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	57.2	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	56.6	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	56.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	72.0	+15.2pp	Cons. · Japanese GAAP
FYE Mar 2023	74.2	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	73.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2025	72.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	71.2	−1.6pp	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 23.4%

Average · 10 yrs 30.0%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	37.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	37.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	37.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	37.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	22.4	−15.4pp	Cons. · Japanese GAAP
FYE Mar 2023	22.1	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	22.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	21.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	23.4	+1.5pp	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 ¥188bn

CAGR · 10 yrs +11.2%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	72.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	77.1	+6.1%	Cons. · Japanese GAAP
FYE Mar 2019	83.3	+8.0%	Cons. · Japanese GAAP
FYE Mar 2020	85.8	+3.1%	Cons. · Japanese GAAP
FYE Mar 2021	92.9	+8.2%	Cons. · Japanese GAAP
FYE Mar 2022	103	+11.3%	Cons. · Japanese GAAP
FYE Mar 2023	111	+7.5%	Cons. · Japanese GAAP
FYE Mar 2024	121	+8.4%	Cons. · Japanese GAAP
FYE Mar 2025	124	+2.8%	Cons. · Japanese GAAP
FYE Mar 2026	188	+52.0%	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 ¥103bn

CAGR · 10 yrs +9.9%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	44.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	47.8	+8.4%	Cons. · Japanese GAAP
FYE Mar 2019	51.0	+6.7%	Cons. · Japanese GAAP
FYE Mar 2020	52.9	+3.7%	Cons. · Japanese GAAP
FYE Mar 2021	58.2	+10.1%	Cons. · Japanese GAAP
FYE Mar 2022	63.4	+8.9%	Cons. · Japanese GAAP
FYE Mar 2023	64.9	+2.3%	Cons. · Japanese GAAP
FYE Mar 2024	69.9	+7.8%	Cons. · Japanese GAAP
FYE Mar 2025	75.6	+8.1%	Cons. · Japanese GAAP
FYE Mar 2026	103	+36.2%	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 ¥47bn

CAGR · 10 yrs +24.6%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	6.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.1	+39.5%	Cons. · Japanese GAAP
FYE Mar 2019	11.7	+28.5%	Cons. · Japanese GAAP
FYE Mar 2020	12.9	+10.2%	Cons. · Japanese GAAP
FYE Mar 2021	14.5	+12.2%	Cons. · Japanese GAAP
FYE Mar 2022	17.7	+22.6%	Cons. · Japanese GAAP
FYE Mar 2023	20.5	+15.7%	Cons. · Japanese GAAP
FYE Mar 2024	20.8	+1.6%	Cons. · Japanese GAAP
FYE Mar 2025	21.8	+4.7%	Cons. · Japanese GAAP
FYE Mar 2026	47.2	+116.4%	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 n/a

CAGR · 9 yrs +6.9%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	3.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.5	−6.9%	Cons. · Japanese GAAP
FYE Mar 2019	7.7	+120.3%	Cons. · Japanese GAAP
FYE Mar 2020	7.5	−2.8%	Cons. · Japanese GAAP
FYE Mar 2021	6.5	−13.1%	Cons. · Japanese GAAP
FYE Mar 2022	11.7	+80.3%	Cons. · Japanese GAAP
FYE Mar 2023	7.0	−40.0%	Cons. · Japanese GAAP
FYE Mar 2024	9.7	+37.2%	Cons. · Japanese GAAP
FYE Mar 2025	6.4	−33.7%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	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 n/a

CAGR · 9 yrs +23.9%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.6	+102.2%	Cons. · Japanese GAAP
FYE Mar 2019	4.0	−28.7%	Cons. · Japanese GAAP
FYE Mar 2020	5.4	+35.1%	Cons. · Japanese GAAP
FYE Mar 2021	8.0	+47.4%	Cons. · Japanese GAAP
FYE Mar 2022	6.0	−24.5%	Cons. · Japanese GAAP
FYE Mar 2023	13.5	+124.5%	Cons. · Japanese GAAP
FYE Mar 2024	11.2	−16.9%	Cons. · Japanese GAAP
FYE Mar 2025	15.4	+37.8%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	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 ¥48bn

CAGR · 10 yrs +31.9%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	4.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.9	−3.5%	Cons. · Japanese GAAP
FYE Mar 2019	3.8	−2.8%	Cons. · Japanese GAAP
FYE Mar 2020	3.4	−10.7%	Cons. · Japanese GAAP
FYE Mar 2021	3.5	+5.8%	Cons. · Japanese GAAP
FYE Mar 2022	5.6	+59.1%	Cons. · Japanese GAAP
FYE Mar 2023	5.4	−4.7%	Cons. · Japanese GAAP
FYE Mar 2024	5.3	−2.4%	Cons. · Japanese GAAP
FYE Mar 2025	5.0	−4.1%	Cons. · Japanese GAAP
FYE Mar 2026	48.3	+858.9%	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 ¥16bn

CAGR · 10 yrs +42.2%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.6	−9.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.7	+18.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.5	−33.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.8	+70.5%	Cons. · Japanese GAAP
FYE Mar 2022	2.2	+157.9%	Cons. · Japanese GAAP
FYE Mar 2023	2.1	−2.4%	Cons. · Japanese GAAP
FYE Mar 2024	2.1	−1.9%	Cons. · Japanese GAAP
FYE Mar 2025	1.9	−8.3%	Cons. · Japanese GAAP
FYE Mar 2026	16.4	+757.1%	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 54.7%

Average · 10 yrs 60.2%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	60.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	62.1	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	61.3	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	61.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	62.7	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	61.3	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	58.3	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2024	58.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	61.0	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2026	54.7	−6.3pp	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 45.9%

Average · 10 yrs 27.0%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	14.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.0	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2019	22.9	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2020	24.4	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2021	24.8	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	27.9	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2023	31.6	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2024	29.8	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	28.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	45.9	+17.0pp	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 23.9%

Average · 10 yrs 8.4%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	6.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.6	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2019	8.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	8.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	8.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	7.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	2.9	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2024	3.2	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	7.2	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2026	23.9	+16.8pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 13.1%

Average · 10 yrs 5.0%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.3	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	5.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	5.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	5.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	4.3	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	1.7	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2024	1.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	4.4	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2026	13.1	+8.7pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.73×

CAGR · 10 yrs −6.6%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.35	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.29	−4.5%	Cons. · Japanese GAAP
FYE Mar 2019	1.20	−7.0%	Cons. · Japanese GAAP
FYE Mar 2020	1.21	+0.7%	Cons. · Japanese GAAP
FYE Mar 2021	1.11	−8.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.82	−26.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.85	+3.8%	Cons. · Japanese GAAP
FYE Mar 2024	0.79	−7.2%	Cons. · Japanese GAAP
FYE Mar 2025	0.83	+5.2%	Cons. · Japanese GAAP
FYE Mar 2026	0.73	−12.0%	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 ¥12bn

CAGR · 10 yrs +5.4%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.4	−1.1%	Cons. · Japanese GAAP
FYE Mar 2019	7.0	−5.3%	Cons. · Japanese GAAP
FYE Mar 2020	8.0	+15.6%	Cons. · Japanese GAAP
FYE Mar 2021	8.7	+7.7%	Cons. · Japanese GAAP
FYE Mar 2022	8.3	−4.2%	Cons. · Japanese GAAP
FYE Mar 2023	8.3	−0.2%	Cons. · Japanese GAAP
FYE Mar 2024	9.7	+17.4%	Cons. · Japanese GAAP
FYE Mar 2025	9.4	−3.0%	Cons. · Japanese GAAP
FYE Mar 2026	11.9	+26.0%	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 -¥26bn

Average · 10 yrs -¥9.8bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-8.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-8.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-9.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-8.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-26.0	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 ¥2.4bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	0.8	−45.1%	Cons. · Japanese GAAP
FYE Mar 2020	-0.2	−121.3%	Cons. · Japanese GAAP
FYE Mar 2021	-0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	1.0	−18.9%	Cons. · Japanese GAAP
FYE Mar 2024	-1.3	−229.1%	Cons. · Japanese GAAP
FYE Mar 2025	-1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	23.5	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 ¥19bn

CAGR · 10 yrs +20.3%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.9	+11.6%	Cons. · Japanese GAAP
FYE Mar 2019	4.3	+9.7%	Cons. · Japanese GAAP
FYE Mar 2020	4.6	+5.8%	Cons. · Japanese GAAP
FYE Mar 2021	6.5	+42.0%	Cons. · Japanese GAAP
FYE Mar 2022	5.9	−8.6%	Cons. · Japanese GAAP
FYE Mar 2023	7.0	+17.3%	Cons. · Japanese GAAP
FYE Mar 2024	7.4	+6.7%	Cons. · Japanese GAAP
FYE Mar 2025	8.1	+9.1%	Cons. · Japanese GAAP
FYE Mar 2026	18.6	+129.1%	Cons. · Japanese GAAP

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

Free cash flow

FYE Mar 2026 -¥14bn

Average · 10 yrs -¥1.2bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	2.3	+459.7%	Cons. · Japanese GAAP
FYE Mar 2022	-1.5	−165.8%	Cons. · Japanese GAAP
FYE Mar 2023	-0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2024	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	1.6	+1.4%	Cons. · Japanese GAAP
FYE Mar 2026	-14.1	−976.4%	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 8.6%

Average · 10 yrs 8.4%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	7.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	7.8	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	8.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	9.8	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	8.7	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	10.2	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	9.1	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	8.6	−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 Mar 2026 -¥29bn

Average · 10 yrs -¥11bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-5.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-8.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-8.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-11.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-13.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-13.4	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-13.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-28.6	n/a	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 n/a

Change · 9 yrs −¥22bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	109	n/a
FYE Mar 2018	115	n/a
FYE Mar 2019	118	n/a
FYE Mar 2020	111	n/a
FYE Mar 2021	108	n/a
FYE Mar 2022	88.4	n/a
FYE Mar 2023	98.2	n/a
FYE Mar 2024	95.3	n/a
FYE Mar 2025	87.2	n/a
FYE Mar 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 Mar 2026 n/a

Change · 9 yrs −977¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	4,883	n/a
FYE Mar 2018	5,147	n/a
FYE Mar 2019	5,303	n/a
FYE Mar 2020	4,954	n/a
FYE Mar 2021	4,828	n/a
FYE Mar 2022	3,962	n/a
FYE Mar 2023	4,399	n/a
FYE Mar 2024	4,272	n/a
FYE Mar 2025	3,906	n/a
FYE Mar 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 Mar 2026 n/a

Change · 9 yrs −0 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	22,318,000	Parent
FYE Mar 2018	22,318,000	Parent
FYE Mar 2019	22,318,000	Parent
FYE Mar 2020	22,318,000	Parent
FYE Mar 2021	22,318,000	Parent
FYE Mar 2022	22,318,000	Parent
FYE Mar 2023	22,318,000	Parent
FYE Mar 2024	22,318,000	Parent
FYE Mar 2025	22,318,000	Parent
FYE Mar 2026	n/a	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 n/a

Change · 9 yrs +128.81¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	128.17	Cons.
FYE Mar 2018	194.95	Cons.
FYE Mar 2019	208.78	Cons.
FYE Mar 2020	211.71	Cons.
FYE Mar 2021	225.62	Cons.
FYE Mar 2022	209.63	Cons.
FYE Mar 2023	89.78	Cons.
FYE Mar 2024	107.06	Cons.
FYE Mar 2025	256.98	Cons.
FYE Mar 2026	n/a	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 n/a

Change · 9 yrs +1,410.61¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,976.52	Cons. · Japanese GAAP
FYE Mar 2018	2,142.26	Cons. · Japanese GAAP
FYE Mar 2019	2,285.24	Cons. · Japanese GAAP
FYE Mar 2020	2,369.84	Cons. · Japanese GAAP
FYE Mar 2021	2,608.52	Cons. · Japanese GAAP
FYE Mar 2022	2,841.43	Cons. · Japanese GAAP
FYE Mar 2023	2,905.95	Cons. · Japanese GAAP
FYE Mar 2024	3,133.70	Cons. · Japanese GAAP
FYE Mar 2025	3,387.13	Cons. · Japanese GAAP
FYE Mar 2026	n/a	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 n/a

Average · 9 yrs 28.63×

Fiscal year	PER ×	Basis
FYE Mar 2017	38.10	Cons.
FYE Mar 2018	26.40	Cons.
FYE Mar 2019	25.40	Cons.
FYE Mar 2020	23.40	Cons.
FYE Mar 2021	21.40	Cons.
FYE Mar 2022	18.90	Cons.
FYE Mar 2023	49.00	Cons.
FYE Mar 2024	39.90	Cons.
FYE Mar 2025	15.20	Cons.
FYE Mar 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 Mar 2026 n/a

Average · 9 yrs 1.74×

Fiscal year	PBR ×	Basis
FYE Mar 2017	2.33	Cons.
FYE Mar 2018	2.27	Cons.
FYE Mar 2019	2.19	Cons.
FYE Mar 2020	1.97	Cons.
FYE Mar 2021	1.75	Cons.
FYE Mar 2022	1.32	Cons.
FYE Mar 2023	1.43	Cons.
FYE Mar 2024	1.29	Cons.
FYE Mar 2025	1.09	Cons.
FYE Mar 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 Mar 2026 4,533people

Change · 10 yrs +1,381 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	3,152	n/a	Cons.
FYE Mar 2018	3,428	+8.8%	Cons.
FYE Mar 2019	3,197	−6.7%	Cons.
FYE Mar 2020	3,379	+5.7%	Cons.
FYE Mar 2021	3,362	−0.5%	Cons.
FYE Mar 2022	3,776	+12.3%	Cons.
FYE Mar 2023	3,858	+2.2%	Cons.
FYE Mar 2024	4,040	+4.7%	Cons.
FYE Mar 2025	4,090	+1.2%	Cons.
FYE Mar 2026	4,533	+10.8%	Cons.

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

Parent-company employees

FYE Mar 2026 1,404people

Change · 10 yrs −159 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,563	n/a	Parent
FYE Mar 2018	1,542	−1.3%	Parent
FYE Mar 2019	1,487	−3.6%	Parent
FYE Mar 2020	1,474	−0.9%	Parent
FYE Mar 2021	1,508	+2.3%	Parent
FYE Mar 2022	1,458	−3.3%	Parent
FYE Mar 2023	1,412	−3.2%	Parent
FYE Mar 2024	1,404	−0.6%	Parent
FYE Mar 2025	1,418	+1.0%	Parent
FYE Mar 2026	1,404	−1.0%	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 569万円

Change · 8 yrs +37万円

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	533	n/a	Parent
FYE Mar 2020	539	+1.1%	Parent
FYE Mar 2021	540	+0.2%	Parent
FYE Mar 2022	539	−0.1%	Parent
FYE Mar 2023	547	+1.4%	Parent
FYE Mar 2024	543	−0.6%	Parent
FYE Mar 2025	564	+3.7%	Parent
FYE Mar 2026	569	+1.0%	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 41.0years

Change · 8 yrs −3.1 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	44.1	n/a	Parent
FYE Mar 2020	42.7	−3.2%	Parent
FYE Mar 2021	42.4	−0.7%	Parent
FYE Mar 2022	41.9	−1.2%	Parent
FYE Mar 2023	41.8	−0.2%	Parent
FYE Mar 2024	41.8	−0.0%	Parent
FYE Mar 2025	41.3	−1.2%	Parent
FYE Mar 2026	41.0	−0.7%	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 17.8years

Change · 8 yrs −4.1 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	21.9	n/a	Parent
FYE Mar 2020	20.9	−4.6%	Parent
FYE Mar 2021	19.9	−4.8%	Parent
FYE Mar 2022	19.8	−0.5%	Parent
FYE Mar 2023	19.6	−1.0%	Parent
FYE Mar 2024	19.5	−0.5%	Parent
FYE Mar 2025	18.4	−5.6%	Parent
FYE Mar 2026	17.8	−3.3%	Parent

Definition: How long the average employee has been with the company
Formula: Average years of service, from the employee section of the filing
Source: Securities report (XBRL)

Temporary employees

FYE Mar 2026 1,057people

Change · 10 yrs −655 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	1,712	n/a	n/a
FYE Mar 2018	1,371	−19.9%	n/a
FYE Mar 2019	1,376	+0.4%	n/a
FYE Mar 2020	1,369	−0.5%	n/a
FYE Mar 2021	1,270	−7.2%	n/a
FYE Mar 2022	1,142	−10.1%	n/a
FYE Mar 2023	1,131	−1.0%	n/a
FYE Mar 2024	1,121	−0.9%	n/a
FYE Mar 2025	1,100	−1.9%	n/a
FYE Mar 2026	1,057	−3.9%	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 Mar 2026 ¥30.5m

Change · 10 yrs −¥0.7m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	31.2	n/a	Cons.
FYE Mar 2018	29.0	−6.8%	Cons.
FYE Mar 2019	31.3	+7.8%	Cons.
FYE Mar 2020	30.7	−1.8%	Cons.
FYE Mar 2021	30.7	−0.0%	Cons.
FYE Mar 2022	22.6	−26.6%	Cons.
FYE Mar 2023	24.6	+9.2%	Cons.
FYE Mar 2024	23.6	−4.0%	Cons.
FYE Mar 2025	25.2	+6.8%	Cons.
FYE Mar 2026	30.5	+20.6%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥1.7m

Change · 10 yrs −¥0.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	1.8	n/a	Cons.
FYE Mar 2018	1.5	−18.1%	Cons.
FYE Mar 2019	1.7	+14.3%	Cons.
FYE Mar 2020	1.7	+3.0%	Cons.
FYE Mar 2021	1.7	−2.8%	Cons.
FYE Mar 2022	1.3	−23.4%	Cons.
FYE Mar 2023	0.9	−27.8%	Cons.
FYE Mar 2024	1.1	+19.7%	Cons.
FYE Mar 2025	1.3	+21.6%	Cons.
FYE Mar 2026	1.7	+23.5%	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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