Financials

Kotobuki Spirits: FYE Mar 2026 and ten years of results (49 metrics)

FYE Mar 2026 · Revenue¥79bnYoY +8.9%

FYE Mar 2026 · Operating profit¥19bnYoY +5.6%

FYE Mar 2026 · Net profit¥13bnYoY +3.6%

FYE Mar 2026 · Equity ratio79.7%YoY +2.6pp

FYE Mar 2026 · Group employees1,801YoY +43

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥33bn	n/a	¥3.8bn	n/a	11.8%	¥2.6bn	Kawagoe Seigo	Française acquired
FYE Mar 2018Consolidated	¥37bn	+14.9%	¥5.0bn	+30.3%	13.4%	¥3.5bn	Kawagoe Seigo	—
FYE Mar 2019Consolidated	¥41bn	+9.1%	¥6.0bn	+19.2%	14.7%	¥4.0bn	Kawagoe Seigo	—
FYE Mar 2020Consolidated	¥45bn	+10.8%	¥6.5bn	+8.0%	14.3%	¥4.1bn	Kawagoe Seigo	—
FYE Mar 2021Consolidated	¥23bn	−48.6%	-¥2.9bn	−144.8%	-12.5%	-¥0.6bn	Kawagoe Seigo	Pandemic — revenue halves, every segment loss-making
FYE Mar 2022Consolidated	¥32bn	+38.7%	¥1.4bn	n/a	4.4%	¥1.9bn	Kawagoe Seigo	—
FYE Mar 2023Consolidated	¥50bn	+55.8%	¥10.0bn	+609.4%	19.8%	¥7.0bn	Kawagoe Seigo	—
FYE Mar 2024Consolidated	¥64bn	+27.7%	¥16bn	+58.6%	24.6%	¥11bn	Kawagoe Seigo	—
FYE Mar 2025Consolidated	¥72bn	+13.0%	¥18bn	+11.6%	24.3%	¥12bn	Kawagoe Seigo	Record results; operating margin 24.3%
FYE Mar 2026Consolidated	¥79bn	+8.9%	¥19bn	+5.6%	23.6%	¥13bn	Kawagoe Seigo	—

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 ¥79bn

CAGR · 10 yrs +10.3%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	32.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	37.4	+14.9%	Cons. · Japanese GAAP
FYE Mar 2019	40.8	+9.1%	Cons. · Japanese GAAP
FYE Mar 2020	45.2	+10.8%	Cons. · Japanese GAAP
FYE Mar 2021	23.2	−48.6%	Cons. · Japanese GAAP
FYE Mar 2022	32.2	+38.7%	Cons. · Japanese GAAP
FYE Mar 2023	50.2	+55.8%	Cons. · Japanese GAAP
FYE Mar 2024	64.0	+27.7%	Cons. · Japanese GAAP
FYE Mar 2025	72.3	+13.0%	Cons. · Japanese GAAP
FYE Mar 2026	78.8	+8.9%	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 ¥30bn

CAGR · 10 yrs +8.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	14.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.1	+12.5%	Cons. · Japanese GAAP
FYE Mar 2019	16.9	+4.8%	Cons. · Japanese GAAP
FYE Mar 2020	18.5	+9.4%	Cons. · Japanese GAAP
FYE Mar 2021	11.6	−37.4%	Cons. · Japanese GAAP
FYE Mar 2022	14.6	+26.0%	Cons. · Japanese GAAP
FYE Mar 2023	20.0	+37.6%	Cons. · Japanese GAAP
FYE Mar 2024	24.2	+20.9%	Cons. · Japanese GAAP
FYE Mar 2025	27.5	+13.7%	Cons. · Japanese GAAP
FYE Mar 2026	30.4	+10.3%	Cons. · Japanese GAAP

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

Gross profit

FYE Mar 2026 ¥48bn

CAGR · 10 yrs +11.5%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	18.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.3	+16.8%	Cons. · Japanese GAAP
FYE Mar 2019	23.9	+12.2%	Cons. · Japanese GAAP
FYE Mar 2020	26.7	+11.8%	Cons. · Japanese GAAP
FYE Mar 2021	11.6	−56.4%	Cons. · Japanese GAAP
FYE Mar 2022	17.6	+51.4%	Cons. · Japanese GAAP
FYE Mar 2023	30.1	+70.8%	Cons. · Japanese GAAP
FYE Mar 2024	39.8	+32.2%	Cons. · Japanese GAAP
FYE Mar 2025	44.8	+12.6%	Cons. · Japanese GAAP
FYE Mar 2026	48.4	+8.0%	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 ¥30bn

CAGR · 10 yrs +8.4%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	14.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.3	+13.2%	Cons. · Japanese GAAP
FYE Mar 2019	17.9	+10.1%	Cons. · Japanese GAAP
FYE Mar 2020	20.2	+13.1%	Cons. · Japanese GAAP
FYE Mar 2021	14.5	−28.2%	Cons. · Japanese GAAP
FYE Mar 2022	16.2	+11.6%	Cons. · Japanese GAAP
FYE Mar 2023	20.2	+24.3%	Cons. · Japanese GAAP
FYE Mar 2024	24.0	+19.2%	Cons. · Japanese GAAP
FYE Mar 2025	27.2	+13.2%	Cons. · Japanese GAAP
FYE Mar 2026	29.8	+9.5%	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 +19.1%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	3.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.0	+30.3%	Cons. · Japanese GAAP
FYE Mar 2019	6.0	+19.2%	Cons. · Japanese GAAP
FYE Mar 2020	6.5	+8.0%	Cons. · Japanese GAAP
FYE Mar 2021	-2.9	−144.8%	Cons. · Japanese GAAP
FYE Mar 2022	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	10.0	+609.4%	Cons. · Japanese GAAP
FYE Mar 2024	15.8	+58.6%	Cons. · Japanese GAAP
FYE Mar 2025	17.6	+11.6%	Cons. · Japanese GAAP
FYE Mar 2026	18.6	+5.6%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥0.1bn

CAGR · 10 yrs +8.0%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.1	−0.8%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	+10.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.1	−0.5%	Cons. · Japanese GAAP
FYE Mar 2021	2.6	+3164.7%	Cons. · Japanese GAAP
FYE Mar 2022	1.5	−40.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.4	−76.8%	Cons. · Japanese GAAP
FYE Mar 2024	0.1	−73.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.1	+2.1%	Cons. · Japanese GAAP
FYE Mar 2026	0.1	+48.0%	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 ¥10.0m

CAGR · 10 yrs −8.2%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Mar 2017	21.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.1	+62.6%	Cons. · Japanese GAAP
FYE Mar 2019	43.0	+22.7%	Cons. · Japanese GAAP
FYE Mar 2020	58.4	+35.8%	Cons. · Japanese GAAP
FYE Mar 2021	11.7	−80.0%	Cons. · Japanese GAAP
FYE Mar 2022	15.0	+28.1%	Cons. · Japanese GAAP
FYE Mar 2023	12.0	−19.7%	Cons. · Japanese GAAP
FYE Mar 2024	9.0	−25.1%	Cons. · Japanese GAAP
FYE Mar 2025	22.0	+144.4%	Cons. · Japanese GAAP
FYE Mar 2026	10.0	−54.5%	Cons. · Japanese GAAP

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

Ordinary profit keijo rieki

FYE Mar 2026 ¥19bn

CAGR · 10 yrs +19.1%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.0	+29.5%	Cons. · Japanese GAAP
FYE Mar 2019	6.0	+19.1%	Cons. · Japanese GAAP
FYE Mar 2020	6.5	+7.7%	Cons. · Japanese GAAP
FYE Mar 2021	-0.3	−105.0%	Cons. · Japanese GAAP
FYE Mar 2022	2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	10.3	+252.4%	Cons. · Japanese GAAP
FYE Mar 2024	15.9	+54.1%	Cons. · Japanese GAAP
FYE Mar 2025	17.7	+11.5%	Cons. · Japanese GAAP
FYE Mar 2026	18.7	+5.9%	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 ¥123m

CAGR · 10 yrs +84.0%

Fiscal year	Extraordinary income ¥ m	YoY	Basis
FYE Mar 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	75.5	+14700.0%	Cons. · Japanese GAAP
FYE Mar 2019	0.7	−99.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.1	−83.6%	Cons. · Japanese GAAP
FYE Mar 2021	7.9	+6516.7%	Cons. · Japanese GAAP
FYE Mar 2022	0.4	−95.2%	Cons. · Japanese GAAP
FYE Mar 2023	2.6	+578.9%	Cons. · Japanese GAAP
FYE Mar 2024	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	123	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 ¥13bn

CAGR · 10 yrs +19.3%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.5	+37.4%	Cons. · Japanese GAAP
FYE Mar 2019	4.0	+12.4%	Cons. · Japanese GAAP
FYE Mar 2020	4.1	+3.2%	Cons. · Japanese GAAP
FYE Mar 2021	-0.6	−113.9%	Cons. · Japanese GAAP
FYE Mar 2022	1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	7.0	+266.5%	Cons. · Japanese GAAP
FYE Mar 2024	10.8	+54.3%	Cons. · Japanese GAAP
FYE Mar 2025	12.1	+11.9%	Cons. · Japanese GAAP
FYE Mar 2026	12.6	+3.6%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 61.4%

Average · 10 yrs 58.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	56.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	56.9	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	58.6	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2020	59.1	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	50.2	−8.9pp	Cons. · Japanese GAAP
FYE Mar 2022	54.7	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2023	60.0	+5.3pp	Cons. · Japanese GAAP
FYE Mar 2024	62.2	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2025	61.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	61.4	−0.5pp	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 23.6%

Average · 10 yrs 13.9%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	11.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.4	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	14.7	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	14.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	-12.5	−26.7pp	Cons. · Japanese GAAP
FYE Mar 2022	4.4	+16.8pp	Cons. · Japanese GAAP
FYE Mar 2023	19.8	+15.5pp	Cons. · Japanese GAAP
FYE Mar 2024	24.6	+4.8pp	Cons. · Japanese GAAP
FYE Mar 2025	24.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	23.6	−0.7pp	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 23.8%

Average · 10 yrs 15.6%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	12.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.5	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	14.7	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	14.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	-1.4	−15.7pp	Cons. · Japanese GAAP
FYE Mar 2022	9.1	+10.5pp	Cons. · Japanese GAAP
FYE Mar 2023	20.5	+11.5pp	Cons. · Japanese GAAP
FYE Mar 2024	24.8	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2025	24.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	23.8	−0.7pp	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 15.9%

Average · 10 yrs 10.3%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.5	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	9.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	9.1	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	-2.5	−11.5pp	Cons. · Japanese GAAP
FYE Mar 2022	5.9	+8.4pp	Cons. · Japanese GAAP
FYE Mar 2023	14.0	+8.0pp	Cons. · Japanese GAAP
FYE Mar 2024	16.9	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2025	16.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	15.9	−0.8pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 38.6%

Average · 10 yrs 41.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	44.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	43.1	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	41.4	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2020	40.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	49.8	+8.9pp	Cons. · Japanese GAAP
FYE Mar 2022	45.3	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2023	40.0	−5.3pp	Cons. · Japanese GAAP
FYE Mar 2024	37.8	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2025	38.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	38.6	+0.5pp	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 37.8%

Average · 10 yrs 44.3%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	44.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	43.5	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	43.9	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	44.8	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	62.6	+17.8pp	Cons. · Japanese GAAP
FYE Mar 2022	50.4	−12.2pp	Cons. · Japanese GAAP
FYE Mar 2023	40.2	−10.2pp	Cons. · Japanese GAAP
FYE Mar 2024	37.5	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2025	37.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	37.8	+0.2pp	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 ¥60bn

CAGR · 10 yrs +13.3%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	19.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.3	+14.2%	Cons. · Japanese GAAP
FYE Mar 2019	26.0	+16.5%	Cons. · Japanese GAAP
FYE Mar 2020	26.8	+3.3%	Cons. · Japanese GAAP
FYE Mar 2021	25.1	−6.6%	Cons. · Japanese GAAP
FYE Mar 2022	27.5	+9.7%	Cons. · Japanese GAAP
FYE Mar 2023	37.0	+34.5%	Cons. · Japanese GAAP
FYE Mar 2024	46.5	+25.9%	Cons. · Japanese GAAP
FYE Mar 2025	52.0	+11.8%	Cons. · Japanese GAAP
FYE Mar 2026	60.1	+15.7%	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 ¥48bn

CAGR · 10 yrs +15.9%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	12.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.5	+21.5%	Cons. · Japanese GAAP
FYE Mar 2019	18.3	+18.2%	Cons. · Japanese GAAP
FYE Mar 2020	21.2	+15.7%	Cons. · Japanese GAAP
FYE Mar 2021	19.3	−8.6%	Cons. · Japanese GAAP
FYE Mar 2022	20.4	+5.2%	Cons. · Japanese GAAP
FYE Mar 2023	26.5	+30.3%	Cons. · Japanese GAAP
FYE Mar 2024	35.2	+32.8%	Cons. · Japanese GAAP
FYE Mar 2025	40.1	+13.8%	Cons. · Japanese GAAP
FYE Mar 2026	47.9	+19.6%	Cons. · Japanese GAAP

Definition: The part of the funding that never has to be repaid
Formula: Net assets line of the balance sheet
Source: Securities report (XBRL)

Interest-bearing debt

FYE Mar 2026 ¥0.0bn

Average · 10 yrs ¥0.5bn

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.7	−31.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.4	−37.6%	Cons. · Japanese GAAP
FYE Mar 2020	0.2	−58.4%	Cons. · Japanese GAAP
FYE Mar 2021	1.0	+436.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.7	−24.8%	Cons. · Japanese GAAP
FYE Mar 2023	0.4	−39.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.3	−31.8%	Cons. · Japanese GAAP
FYE Mar 2025	0.3	−0.0%	Cons. · Japanese GAAP
FYE Mar 2026	0.0	−100.0%	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 · 8 yrs −0.8%

Fiscal year	Short-term borrowings ¥ m	YoY	Basis
FYE Mar 2017	318	n/a	Cons. · Japanese GAAP
FYE Mar 2018	260	−18.1%	Cons. · Japanese GAAP
FYE Mar 2019	253	−2.9%	Cons. · Japanese GAAP
FYE Mar 2020	180	−28.8%	Cons. · Japanese GAAP
FYE Mar 2021	240	+33.3%	Cons. · Japanese GAAP
FYE Mar 2022	240	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	140	−41.6%	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	300	n/a	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 · 7 yrs −13.0%

Fiscal year	Long-term borrowings ¥ m	YoY	Basis
FYE Mar 2017	693	n/a	Cons. · Japanese GAAP
FYE Mar 2018	433	−37.6%	Cons. · Japanese GAAP
FYE Mar 2019	180	−58.4%	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	726	n/a	Cons. · Japanese GAAP
FYE Mar 2022	486	−33.0%	Cons. · Japanese GAAP
FYE Mar 2023	300	−38.3%	Cons. · Japanese GAAP
FYE Mar 2024	300	−0.0%	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	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 ¥141m

CAGR · 10 yrs +3.5%

Fiscal year	Intangible assets ¥ m	YoY	Basis
FYE Mar 2017	103	n/a	Cons. · Japanese GAAP
FYE Mar 2018	114	+10.3%	Cons. · Japanese GAAP
FYE Mar 2019	158	+38.9%	Cons. · Japanese GAAP
FYE Mar 2020	154	−2.4%	Cons. · Japanese GAAP
FYE Mar 2021	151	−1.8%	Cons. · Japanese GAAP
FYE Mar 2022	142	−6.1%	Cons. · Japanese GAAP
FYE Mar 2023	101	−29.1%	Cons. · Japanese GAAP
FYE Mar 2024	82.0	−18.7%	Cons. · Japanese GAAP
FYE Mar 2025	108	+31.7%	Cons. · Japanese GAAP
FYE Mar 2026	141	+30.6%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 79.7%

Average · 10 yrs 74.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	65.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.5	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2019	70.5	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	78.9	+8.4pp	Cons. · Japanese GAAP
FYE Mar 2021	77.2	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	74.1	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2023	71.8	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2024	75.7	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2025	77.1	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	79.7	+2.6pp	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 0.0%

Average · 10 yrs 2.7%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.5	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2019	2.4	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2020	0.9	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	5.0	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2022	3.6	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	1.7	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	0.9	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	0.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	0.0	−0.7pp	Cons. · Japanese GAAP

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

ROE return on equity

FYE Mar 2026 26.2%

Average · 10 yrs 20.4%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	20.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.8	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2019	21.7	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2020	19.4	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2021	-2.9	−22.3pp	Cons. · Japanese GAAP
FYE Mar 2022	9.4	+12.3pp	Cons. · Japanese GAAP
FYE Mar 2023	26.5	+17.1pp	Cons. · Japanese GAAP
FYE Mar 2024	30.7	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2025	30.2	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	26.2	−4.0pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 20.9%

Average · 10 yrs 15.1%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	13.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.9	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2019	15.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	15.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	-2.3	−17.6pp	Cons. · Japanese GAAP
FYE Mar 2022	7.0	+9.2pp	Cons. · Japanese GAAP
FYE Mar 2023	19.0	+12.0pp	Cons. · Japanese GAAP
FYE Mar 2024	23.3	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2025	23.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	20.9	−2.4pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 1.31×

CAGR · 10 yrs −2.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.67	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.68	+0.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.57	−6.4%	Cons. · Japanese GAAP
FYE Mar 2020	1.68	+7.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.93	−45.0%	Cons. · Japanese GAAP
FYE Mar 2022	1.17	+26.5%	Cons. · Japanese GAAP
FYE Mar 2023	1.36	+15.8%	Cons. · Japanese GAAP
FYE Mar 2024	1.38	+1.4%	Cons. · Japanese GAAP
FYE Mar 2025	1.39	+1.1%	Cons. · Japanese GAAP
FYE Mar 2026	1.31	−5.9%	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 ¥14bn

CAGR · 10 yrs +18.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	3.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.2	+35.4%	Cons. · Japanese GAAP
FYE Mar 2019	4.7	+13.0%	Cons. · Japanese GAAP
FYE Mar 2020	6.6	+40.1%	Cons. · Japanese GAAP
FYE Mar 2021	0.1	−98.8%	Cons. · Japanese GAAP
FYE Mar 2022	4.3	+5135.4%	Cons. · Japanese GAAP
FYE Mar 2023	9.1	+111.6%	Cons. · Japanese GAAP
FYE Mar 2024	10.8	+19.4%	Cons. · Japanese GAAP
FYE Mar 2025	13.2	+21.8%	Cons. · Japanese GAAP
FYE Mar 2026	13.8	+4.5%	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 -¥5.5bn

Average · 10 yrs -¥2.1bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-2.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-2.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-2.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-3.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-5.5	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 -¥5.2bn

Average · 10 yrs -¥2.4bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-1.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-5.2	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 ¥28bn

CAGR · 10 yrs +25.9%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.7	+33.7%	Cons. · Japanese GAAP
FYE Mar 2019	5.7	+19.2%	Cons. · Japanese GAAP
FYE Mar 2020	8.3	+46.5%	Cons. · Japanese GAAP
FYE Mar 2021	7.3	−11.8%	Cons. · Japanese GAAP
FYE Mar 2022	9.9	+35.6%	Cons. · Japanese GAAP
FYE Mar 2023	16.2	+63.0%	Cons. · Japanese GAAP
FYE Mar 2024	22.7	+40.4%	Cons. · Japanese GAAP
FYE Mar 2025	25.1	+10.5%	Cons. · Japanese GAAP
FYE Mar 2026	28.2	+12.4%	Cons. · Japanese GAAP

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

Free cash flow

FYE Mar 2026 ¥8.3bn

CAGR · 10 yrs +16.6%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	2.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.3	+9.6%	Cons. · Japanese GAAP
FYE Mar 2019	2.3	−1.8%	Cons. · Japanese GAAP
FYE Mar 2020	4.1	+82.5%	Cons. · Japanese GAAP
FYE Mar 2021	-0.5	−112.7%	Cons. · Japanese GAAP
FYE Mar 2022	3.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	7.5	+98.3%	Cons. · Japanese GAAP
FYE Mar 2024	8.8	+18.4%	Cons. · Japanese GAAP
FYE Mar 2025	9.8	+10.5%	Cons. · Japanese GAAP
FYE Mar 2026	8.4	−14.5%	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 17.5%

Average · 10 yrs 13.1%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	9.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.1	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2019	11.5	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	14.6	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2021	0.4	−14.2pp	Cons. · Japanese GAAP
FYE Mar 2022	13.3	+13.0pp	Cons. · Japanese GAAP
FYE Mar 2023	18.1	+4.8pp	Cons. · Japanese GAAP
FYE Mar 2024	16.9	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2025	18.3	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	17.5	−0.7pp	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 ¥28bn

CAGR · 10 yrs +30.7%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	2.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.1	+59.7%	Cons. · Japanese GAAP
FYE Mar 2019	5.2	+28.9%	Cons. · Japanese GAAP
FYE Mar 2020	8.1	+55.2%	Cons. · Japanese GAAP
FYE Mar 2021	6.3	−21.8%	Cons. · Japanese GAAP
FYE Mar 2022	9.2	+44.8%	Cons. · Japanese GAAP
FYE Mar 2023	15.7	+71.1%	Cons. · Japanese GAAP
FYE Mar 2024	22.4	+42.4%	Cons. · Japanese GAAP
FYE Mar 2025	24.8	+10.7%	Cons. · Japanese GAAP
FYE Mar 2026	28.2	+13.8%	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 ¥285bn

Change · 10 yrs +¥200bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	85.2	n/a
FYE Mar 2018	174	n/a
FYE Mar 2019	132	n/a
FYE Mar 2020	151	n/a
FYE Mar 2021	44.8	n/a
FYE Mar 2022	203	n/a
FYE Mar 2023	292	n/a
FYE Mar 2024	298	n/a
FYE Mar 2025	378	n/a
FYE Mar 2026	285	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 1,831¥

Change · 10 yrs −906¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	2,737	n/a
FYE Mar 2018	5,600	n/a
FYE Mar 2019	4,240	n/a
FYE Mar 2020	4,864	n/a
FYE Mar 2021	1,438	n/a
FYE Mar 2022	6,519	n/a
FYE Mar 2023	9,370	n/a
FYE Mar 2024	1,917	n/a
FYE Mar 2025	2,430	n/a
FYE Mar 2026	1,831	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 155,658,000shares

Change · 10 yrs +124,537,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	31,121,000	Parent
FYE Mar 2018	31,121,000	Parent
FYE Mar 2019	31,121,000	Parent
FYE Mar 2020	31,121,000	Parent
FYE Mar 2021	31,121,000	Parent
FYE Mar 2022	31,121,000	Parent
FYE Mar 2023	31,121,000	Parent
FYE Mar 2024	155,607,000	Parent
FYE Mar 2025	155,658,000	Parent
FYE Mar 2026	155,658,000	Parent

Definition: How many shares exist
Formula: Shares issued, from the key figures of the filing
Source: Securities report (XBRL)

EPS earnings per share

FYE Mar 2026 81.32¥

Change · 10 yrs −1.34¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	82.66	Cons.
FYE Mar 2018	113.56	Cons.
FYE Mar 2019	127.64	Cons.
FYE Mar 2020	26.35	Cons.
FYE Mar 2021	-3.66	Cons.
FYE Mar 2022	12.31	Cons.
FYE Mar 2023	45.10	Cons.
FYE Mar 2024	69.61	Cons.
FYE Mar 2025	78.00	Cons.
FYE Mar 2026	81.32	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 307.93¥

Change · 10 yrs −101.26¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	409.18	Cons. · Japanese GAAP
FYE Mar 2018	497.14	Cons. · Japanese GAAP
FYE Mar 2019	587.84	Cons. · Japanese GAAP
FYE Mar 2020	680.08	Cons. · Japanese GAAP
FYE Mar 2021	621.48	Cons. · Japanese GAAP
FYE Mar 2022	654.09	Cons. · Japanese GAAP
FYE Mar 2023	852.06	Cons. · Japanese GAAP
FYE Mar 2024	226.36	Cons. · Japanese GAAP
FYE Mar 2025	257.51	Cons. · Japanese GAAP
FYE Mar 2026	307.93	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 22.51×

Average · 10 yrs -1.17×

Fiscal year	PER ×	Basis
FYE Mar 2017	33.11	Cons.
FYE Mar 2018	49.31	Cons.
FYE Mar 2019	33.22	Cons.
FYE Mar 2020	36.92	Cons.
FYE Mar 2021	-392.90	Cons.
FYE Mar 2022	105.91	Cons.
FYE Mar 2023	41.55	Cons.
FYE Mar 2024	27.54	Cons.
FYE Mar 2025	31.15	Cons.
FYE Mar 2026	22.51	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 5.90×

Average · 10 yrs 8.86×

Fiscal year	PBR ×	Basis
FYE Mar 2017	6.69	Cons.
FYE Mar 2018	11.26	Cons.
FYE Mar 2019	7.21	Cons.
FYE Mar 2020	7.15	Cons.
FYE Mar 2021	11.57	Cons.
FYE Mar 2022	9.97	Cons.
FYE Mar 2023	11.00	Cons.
FYE Mar 2024	8.47	Cons.
FYE Mar 2025	9.36	Cons.
FYE Mar 2026	5.90	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 1,801people

Change · 10 yrs +574 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	1,227	n/a	Cons.
FYE Mar 2018	1,339	+9.1%	Cons.
FYE Mar 2019	1,433	+7.0%	Cons.
FYE Mar 2020	1,520	+6.1%	Cons.
FYE Mar 2021	1,583	+4.1%	Cons.
FYE Mar 2022	1,507	−4.8%	Cons.
FYE Mar 2023	1,512	+0.3%	Cons.
FYE Mar 2024	1,636	+8.2%	Cons.
FYE Mar 2025	1,758	+7.5%	Cons.
FYE Mar 2026	1,801	+2.4%	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 7people

Change · 10 yrs −2 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	9	n/a	Parent
FYE Mar 2018	10	+11.1%	Parent
FYE Mar 2019	9	−10.0%	Parent
FYE Mar 2020	6	−33.3%	Parent
FYE Mar 2021	8	+33.3%	Parent
FYE Mar 2022	7	−12.5%	Parent
FYE Mar 2023	7	−0.0%	Parent
FYE Mar 2024	8	+14.3%	Parent
FYE Mar 2025	7	−12.5%	Parent
FYE Mar 2026	7	−0.0%	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 1,024万円

Change · 8 yrs +362万円

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	663	n/a	Parent
FYE Mar 2020	677	+2.2%	Parent
FYE Mar 2021	655	−3.4%	Parent
FYE Mar 2022	689	+5.3%	Parent
FYE Mar 2023	763	+10.7%	Parent
FYE Mar 2024	812	+6.4%	Parent
FYE Mar 2025	931	+14.7%	Parent
FYE Mar 2026	1,024	+10.1%	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 49.6years

Change · 8 yrs +5.1 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	44.5	n/a	Parent
FYE Mar 2020	44.5	−0.0%	Parent
FYE Mar 2021	42.5	−4.5%	Parent
FYE Mar 2022	45.6	+7.3%	Parent
FYE Mar 2023	46.9	+2.9%	Parent
FYE Mar 2024	48.2	+2.8%	Parent
FYE Mar 2025	47.6	−1.2%	Parent
FYE Mar 2026	49.6	+4.2%	Parent

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

Average length of service

FYE Mar 2026 14.6years

Change · 8 yrs +4.8 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	9.8	n/a	Parent
FYE Mar 2020	13.8	+40.8%	Parent
FYE Mar 2021	11.5	−16.7%	Parent
FYE Mar 2022	13.8	+20.0%	Parent
FYE Mar 2023	15.8	+14.5%	Parent
FYE Mar 2024	14.8	−6.3%	Parent
FYE Mar 2025	12.5	−15.5%	Parent
FYE Mar 2026	14.6	+16.8%	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 975people

Change · 10 yrs +92 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	883	n/a	n/a
FYE Mar 2018	1,012	+14.6%	n/a
FYE Mar 2019	1,112	+9.9%	n/a
FYE Mar 2020	1,247	+12.1%	n/a
FYE Mar 2021	886	−28.9%	n/a
FYE Mar 2022	778	−12.2%	n/a
FYE Mar 2023	888	+14.1%	n/a
FYE Mar 2024	1,056	+18.9%	n/a
FYE Mar 2025	993	−6.0%	n/a
FYE Mar 2026	975	−1.8%	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 ¥43.7m

Change · 10 yrs +¥17.2m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	26.5	n/a	Cons.
FYE Mar 2018	27.9	+5.3%	Cons.
FYE Mar 2019	28.5	+1.9%	Cons.
FYE Mar 2020	29.7	+4.5%	Cons.
FYE Mar 2021	14.7	−50.7%	Cons.
FYE Mar 2022	21.4	+45.7%	Cons.
FYE Mar 2023	33.2	+55.3%	Cons.
FYE Mar 2024	39.1	+18.0%	Cons.
FYE Mar 2025	41.2	+5.1%	Cons.
FYE Mar 2026	43.7	+6.3%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥10.3m

Change · 10 yrs +¥7.2m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.1	n/a	Cons.
FYE Mar 2018	3.7	+19.4%	Cons.
FYE Mar 2019	4.2	+11.4%	Cons.
FYE Mar 2020	4.2	+1.8%	Cons.
FYE Mar 2021	-1.8	−143.0%	Cons.
FYE Mar 2022	0.9	n/a	Cons.
FYE Mar 2023	6.6	+607.1%	Cons.
FYE Mar 2024	9.6	+46.5%	Cons.
FYE Mar 2025	10.0	+3.9%	Cons.
FYE Mar 2026	10.3	+3.1%	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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