Financials

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

FYE Mar 2026 · Revenue¥340bnYoY +5.5%

FYE Mar 2026 · Operating profit¥26bnYoY −10.0%

FYE Mar 2026 · Net profit¥17bnYoY −17.0%

FYE Mar 2026 · Equity ratio64.3%YoY −0.0pp

FYE Mar 2026 · Group employees6,974YoY +1,836

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥252bn	n/a	¥29bn	n/a	11.4%	¥19bn	Ito Shuji	—
FYE Mar 2018Consolidated	¥252bn	−0.3%	¥27bn	−7.0%	10.7%	¥17bn	Ito Shuji	—
FYE Mar 2019Consolidated	¥249bn	−1.2%	¥27bn	+0.5%	10.8%	¥19bn	Ito Shuji	Akira Matsumoto steps down; Shuji Ito sole CEO
FYE Mar 2020Consolidated	¥256bn	+2.9%	¥28bn	+2.6%	10.8%	¥18bn	Ito Shuji	Warnock Foods (US) acquired
FYE Mar 2021Consolidated	¥267bn	+4.2%	¥27bn	−2.2%	10.1%	¥18bn	Ito Shuji	—
FYE Mar 2022Consolidated	¥245bn	−8.0%	¥25bn	−7.1%	10.2%	¥18bn	Ito Shuji	—
FYE Mar 2023Consolidated	¥279bn	+13.8%	¥22bn	−11.5%	8.0%	¥15bn	Ito Shuji	Moves to the TSE Prime Market
FYE Mar 2024Consolidated	¥303bn	+8.5%	¥27bn	+22.8%	9.0%	¥20bn	Ito Shuji	Makoto Ehara becomes president and CEO
FYE Mar 2025Consolidated	¥323bn	+6.4%	¥29bn	+6.5%	9.0%	¥21bn	Ehara Makoto	—
FYE Mar 2026Consolidated	¥340bn	+5.5%	¥26bn	−10.0%	7.7%	¥17bn	Ehara Makoto	Setouchi Hiroshima plant opens

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 ¥340bn

CAGR · 10 yrs +3.4%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	252	n/a	Cons. · Japanese GAAP
FYE Mar 2018	252	−0.3%	Cons. · Japanese GAAP
FYE Mar 2019	249	−1.2%	Cons. · Japanese GAAP
FYE Mar 2020	256	+2.9%	Cons. · Japanese GAAP
FYE Mar 2021	267	+4.2%	Cons. · Japanese GAAP
FYE Mar 2022	245	−8.0%	Cons. · Japanese GAAP
FYE Mar 2023	279	+13.8%	Cons. · Japanese GAAP
FYE Mar 2024	303	+8.5%	Cons. · Japanese GAAP
FYE Mar 2025	323	+6.4%	Cons. · Japanese GAAP
FYE Mar 2026	340	+5.5%	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 ¥229bn

CAGR · 10 yrs +5.6%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	141	n/a	Cons. · Japanese GAAP
FYE Mar 2018	143	+1.3%	Cons. · Japanese GAAP
FYE Mar 2019	138	−3.6%	Cons. · Japanese GAAP
FYE Mar 2020	141	+2.4%	Cons. · Japanese GAAP
FYE Mar 2021	149	+5.7%	Cons. · Japanese GAAP
FYE Mar 2022	161	+8.4%	Cons. · Japanese GAAP
FYE Mar 2023	189	+17.1%	Cons. · Japanese GAAP
FYE Mar 2024	201	+6.3%	Cons. · Japanese GAAP
FYE Mar 2025	213	+5.8%	Cons. · Japanese GAAP
FYE Mar 2026	229	+7.8%	Cons. · Japanese GAAP

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

Gross profit

FYE Mar 2026 ¥111bn

CAGR · 10 yrs −0.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	112	n/a	Cons. · Japanese GAAP
FYE Mar 2018	109	−2.4%	Cons. · Japanese GAAP
FYE Mar 2019	111	+2.0%	Cons. · Japanese GAAP
FYE Mar 2020	115	+3.6%	Cons. · Japanese GAAP
FYE Mar 2021	118	+2.4%	Cons. · Japanese GAAP
FYE Mar 2022	84.0	−28.7%	Cons. · Japanese GAAP
FYE Mar 2023	90.2	+7.4%	Cons. · Japanese GAAP
FYE Mar 2024	102	+13.0%	Cons. · Japanese GAAP
FYE Mar 2025	110	+7.8%	Cons. · Japanese GAAP
FYE Mar 2026	111	+0.8%	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 ¥85bn

CAGR · 10 yrs +0.3%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	82.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	82.1	−0.8%	Cons. · Japanese GAAP
FYE Mar 2019	84.2	+2.5%	Cons. · Japanese GAAP
FYE Mar 2020	87.4	+3.9%	Cons. · Japanese GAAP
FYE Mar 2021	90.7	+3.8%	Cons. · Japanese GAAP
FYE Mar 2022	58.8	−35.2%	Cons. · Japanese GAAP
FYE Mar 2023	68.0	+15.6%	Cons. · Japanese GAAP
FYE Mar 2024	74.7	+9.8%	Cons. · Japanese GAAP
FYE Mar 2025	80.8	+8.2%	Cons. · Japanese GAAP
FYE Mar 2026	84.6	+4.7%	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 ¥26bn

CAGR · 10 yrs −1.1%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	28.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.8	−7.0%	Cons. · Japanese GAAP
FYE Mar 2019	27.0	+0.5%	Cons. · Japanese GAAP
FYE Mar 2020	27.7	+2.6%	Cons. · Japanese GAAP
FYE Mar 2021	27.1	−2.2%	Cons. · Japanese GAAP
FYE Mar 2022	25.1	−7.1%	Cons. · Japanese GAAP
FYE Mar 2023	22.2	−11.5%	Cons. · Japanese GAAP
FYE Mar 2024	27.3	+22.8%	Cons. · Japanese GAAP
FYE Mar 2025	29.1	+6.5%	Cons. · Japanese GAAP
FYE Mar 2026	26.2	−10.0%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥1.5bn

CAGR · 10 yrs +12.1%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.4	−20.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.9	+99.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.6	−29.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.9	+54.7%	Cons. · Japanese GAAP
FYE Mar 2022	2.1	+126.1%	Cons. · Japanese GAAP
FYE Mar 2023	1.6	−24.0%	Cons. · Japanese GAAP
FYE Mar 2024	4.4	+174.5%	Cons. · Japanese GAAP
FYE Mar 2025	1.5	−66.1%	Cons. · Japanese GAAP
FYE Mar 2026	1.5	+0.7%	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 ¥0.6bn

CAGR · 10 yrs −2.9%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	0.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.1	+43.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.4	−64.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.9	+127.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.5	−46.2%	Cons. · Japanese GAAP
FYE Mar 2022	0.3	−37.2%	Cons. · Japanese GAAP
FYE Mar 2023	0.4	+24.1%	Cons. · Japanese GAAP
FYE Mar 2024	0.5	+43.4%	Cons. · Japanese GAAP
FYE Mar 2025	0.7	+34.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.6	−18.4%	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 ¥27bn

CAGR · 10 yrs −0.6%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	28.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.2	−8.5%	Cons. · Japanese GAAP
FYE Mar 2019	27.4	+4.8%	Cons. · Japanese GAAP
FYE Mar 2020	27.4	−0.1%	Cons. · Japanese GAAP
FYE Mar 2021	27.5	+0.5%	Cons. · Japanese GAAP
FYE Mar 2022	26.9	−2.1%	Cons. · Japanese GAAP
FYE Mar 2023	23.5	−12.9%	Cons. · Japanese GAAP
FYE Mar 2024	31.2	+32.8%	Cons. · Japanese GAAP
FYE Mar 2025	29.8	−4.2%	Cons. · Japanese GAAP
FYE Mar 2026	27.1	−9.2%	Cons. · Japanese GAAP

Definition: A level of profit that exists only under Japanese GAAP
Formula: Operating profit + non-operating income − non-operating expenses
Source: Securities report (XBRL)

Extraordinary income

FYE Mar 2026 ¥0.4bn

CAGR · 10 yrs +5.4%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.2	−30.8%	Cons. · Japanese GAAP
FYE Mar 2019	3.1	+1481.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.4	−85.9%	Cons. · Japanese GAAP
FYE Mar 2021	0.6	+47.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.5	−14.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.3	−38.0%	Cons. · Japanese GAAP
FYE Mar 2024	0.3	−25.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.2	−12.4%	Cons. · Japanese GAAP
FYE Mar 2026	0.4	+104.6%	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 ¥17bn

CAGR · 10 yrs −0.8%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	18.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.3	−6.9%	Cons. · Japanese GAAP
FYE Mar 2019	19.4	+12.1%	Cons. · Japanese GAAP
FYE Mar 2020	17.5	−9.7%	Cons. · Japanese GAAP
FYE Mar 2021	17.7	+0.8%	Cons. · Japanese GAAP
FYE Mar 2022	18.1	+2.1%	Cons. · Japanese GAAP
FYE Mar 2023	14.8	−18.2%	Cons. · Japanese GAAP
FYE Mar 2024	19.9	+34.6%	Cons. · Japanese GAAP
FYE Mar 2025	20.9	+5.0%	Cons. · Japanese GAAP
FYE Mar 2026	17.3	−17.0%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 32.6%

Average · 10 yrs 38.8%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	44.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	43.3	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	44.7	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	45.0	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	44.2	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	34.2	−10.0pp	Cons. · Japanese GAAP
FYE Mar 2023	32.3	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	33.6	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	34.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	32.6	−1.5pp	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 7.7%

Average · 10 yrs 9.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	11.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	10.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	10.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	10.1	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	10.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	8.0	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2024	9.0	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	9.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	7.7	−1.3pp	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 8.0%

Average · 10 yrs 10.1%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	11.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.4	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	11.0	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	10.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	10.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	11.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	8.4	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2024	10.3	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2025	9.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	8.0	−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 5.1%

Average · 10 yrs 6.6%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	7.8	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	6.9	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2021	6.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	7.4	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	5.3	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	6.6	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	6.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	5.1	−1.4pp	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 67.4%

Average · 10 yrs 61.2%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	55.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	56.7	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	55.3	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	55.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	55.8	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	65.8	+10.0pp	Cons. · Japanese GAAP
FYE Mar 2023	67.7	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	66.4	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	65.9	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	67.4	+1.5pp	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 24.9%

Average · 10 yrs 29.0%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	32.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	33.8	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	34.2	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	34.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	24.0	−10.1pp	Cons. · Japanese GAAP
FYE Mar 2023	24.3	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	24.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	25.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	24.9	−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 ¥328bn

CAGR · 10 yrs +6.8%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	182	n/a	Cons. · Japanese GAAP
FYE Mar 2018	192	+5.5%	Cons. · Japanese GAAP
FYE Mar 2019	203	+5.6%	Cons. · Japanese GAAP
FYE Mar 2020	215	+6.0%	Cons. · Japanese GAAP
FYE Mar 2021	239	+11.2%	Cons. · Japanese GAAP
FYE Mar 2022	237	−1.0%	Cons. · Japanese GAAP
FYE Mar 2023	239	+1.1%	Cons. · Japanese GAAP
FYE Mar 2024	292	+22.2%	Cons. · Japanese GAAP
FYE Mar 2025	319	+9.2%	Cons. · Japanese GAAP
FYE Mar 2026	328	+2.6%	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 ¥211bn

CAGR · 10 yrs +5.7%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	128	n/a	Cons. · Japanese GAAP
FYE Mar 2018	139	+8.8%	Cons. · Japanese GAAP
FYE Mar 2019	154	+10.4%	Cons. · Japanese GAAP
FYE Mar 2020	163	+6.0%	Cons. · Japanese GAAP
FYE Mar 2021	175	+7.4%	Cons. · Japanese GAAP
FYE Mar 2022	175	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	174	−0.7%	Cons. · Japanese GAAP
FYE Mar 2024	192	+10.1%	Cons. · Japanese GAAP
FYE Mar 2025	205	+7.0%	Cons. · Japanese GAAP
FYE Mar 2026	211	+2.6%	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 ¥27bn

CAGR · 10 yrs +42.5%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.1	+2.0%	Cons. · Japanese GAAP
FYE Mar 2019	1.0	−9.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.9	−15.2%	Cons. · Japanese GAAP
FYE Mar 2021	5.8	+563.8%	Cons. · Japanese GAAP
FYE Mar 2022	1.4	−75.0%	Cons. · Japanese GAAP
FYE Mar 2023	1.3	−10.9%	Cons. · Japanese GAAP
FYE Mar 2024	26.4	+1949.1%	Cons. · Japanese GAAP
FYE Mar 2025	35.9	+35.8%	Cons. · Japanese GAAP
FYE Mar 2026	26.8	−25.4%	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 ¥1.8bn

CAGR · 10 yrs +5.3%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.1	+2.0%	Cons. · Japanese GAAP
FYE Mar 2019	1.0	−9.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.9	−15.2%	Cons. · Japanese GAAP
FYE Mar 2021	2.6	+200.3%	Cons. · Japanese GAAP
FYE Mar 2022	1.4	−44.7%	Cons. · Japanese GAAP
FYE Mar 2023	1.3	−10.9%	Cons. · Japanese GAAP
FYE Mar 2024	1.4	+11.1%	Cons. · Japanese GAAP
FYE Mar 2025	0.9	−38.4%	Cons. · Japanese GAAP
FYE Mar 2026	1.8	+100.0%	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 Mar 2026 ¥25bn

CAGR · 4 yrs +99.1%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	25.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	35.0	+40.0%	Cons. · Japanese GAAP
FYE Mar 2026	25.0	−28.6%	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 ¥25bn

CAGR · 10 yrs +20.9%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.4	−24.4%	Cons. · Japanese GAAP
FYE Mar 2019	7.7	+127.2%	Cons. · Japanese GAAP
FYE Mar 2020	13.0	+69.2%	Cons. · Japanese GAAP
FYE Mar 2021	26.5	+103.3%	Cons. · Japanese GAAP
FYE Mar 2022	26.1	−1.6%	Cons. · Japanese GAAP
FYE Mar 2023	25.9	−0.6%	Cons. · Japanese GAAP
FYE Mar 2024	25.3	−2.5%	Cons. · Japanese GAAP
FYE Mar 2025	24.2	−4.2%	Cons. · Japanese GAAP
FYE Mar 2026	24.7	+2.2%	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 ¥21bn

CAGR · 10 yrs +32.9%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.9	−43.0%	Cons. · Japanese GAAP
FYE Mar 2019	5.7	+516.9%	Cons. · Japanese GAAP
FYE Mar 2020	11.0	+92.6%	Cons. · Japanese GAAP
FYE Mar 2021	24.5	+123.8%	Cons. · Japanese GAAP
FYE Mar 2022	23.6	−3.9%	Cons. · Japanese GAAP
FYE Mar 2023	23.2	−1.4%	Cons. · Japanese GAAP
FYE Mar 2024	22.7	−2.5%	Cons. · Japanese GAAP
FYE Mar 2025	20.5	−9.3%	Cons. · Japanese GAAP
FYE Mar 2026	21.0	+2.1%	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 64.3%

Average · 10 yrs 70.9%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	70.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	72.6	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2019	75.9	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2020	75.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	73.4	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	74.1	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	72.8	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2024	65.6	−7.2pp	Cons. · Japanese GAAP
FYE Mar 2025	64.3	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	64.3	−0.0pp	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 Mar 2026 12.7%

Average · 10 yrs 5.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	0.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	0.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	3.3	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2022	0.8	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2023	0.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	13.8	+13.0pp	Cons. · Japanese GAAP
FYE Mar 2025	17.5	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2026	12.7	−4.8pp	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 8.2%

Average · 10 yrs 10.8%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	14.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.4	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2019	12.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	10.7	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	10.1	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	10.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	8.5	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2024	10.4	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2025	10.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	8.2	−1.9pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 5.3%

Average · 10 yrs 7.7%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	10.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	9.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	8.2	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2021	7.4	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	7.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	6.2	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	6.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	6.5	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	5.3	−1.3pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 1.04×

CAGR · 10 yrs −3.2%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.39	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.31	−5.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.23	−6.4%	Cons. · Japanese GAAP
FYE Mar 2020	1.19	−2.9%	Cons. · Japanese GAAP
FYE Mar 2021	1.12	−6.2%	Cons. · Japanese GAAP
FYE Mar 2022	1.04	−7.1%	Cons. · Japanese GAAP
FYE Mar 2023	1.17	+12.6%	Cons. · Japanese GAAP
FYE Mar 2024	1.04	−11.2%	Cons. · Japanese GAAP
FYE Mar 2025	1.01	−2.6%	Cons. · Japanese GAAP
FYE Mar 2026	1.04	+2.7%	Cons. · Japanese GAAP

Definition: How much revenue each yen of assets produces
Formula: Revenue ÷ total assets
Source: Securities report (XBRL)

Cash flow statement Cash from operations, investment and financing, and what is left on hand

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥36bn

CAGR · 10 yrs +3.6%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	26.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.4	−63.9%	Cons. · Japanese GAAP
FYE Mar 2019	27.6	+195.1%	Cons. · Japanese GAAP
FYE Mar 2020	40.4	+46.4%	Cons. · Japanese GAAP
FYE Mar 2021	30.5	−24.7%	Cons. · Japanese GAAP
FYE Mar 2022	22.3	−26.7%	Cons. · Japanese GAAP
FYE Mar 2023	19.3	−13.5%	Cons. · Japanese GAAP
FYE Mar 2024	24.4	+26.1%	Cons. · Japanese GAAP
FYE Mar 2025	39.1	+60.6%	Cons. · Japanese GAAP
FYE Mar 2026	35.6	−9.0%	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 -¥20bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-13.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-28.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-13.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-32.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-20.3	−658.0%	Cons. · Japanese GAAP
FYE Mar 2024	-35.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-28.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-26.2	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 -¥17bn

Average · 10 yrs -¥8.3bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-14.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-6.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-25.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-20.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	16.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	2.5	−84.9%	Cons. · Japanese GAAP
FYE Mar 2026	-17.0	−769.1%	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 ¥46bn

CAGR · 10 yrs +0.2%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	44.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	42.2	−5.4%	Cons. · Japanese GAAP
FYE Mar 2019	35.4	−16.0%	Cons. · Japanese GAAP
FYE Mar 2020	55.7	+57.4%	Cons. · Japanese GAAP
FYE Mar 2021	47.3	−15.2%	Cons. · Japanese GAAP
FYE Mar 2022	49.7	+5.1%	Cons. · Japanese GAAP
FYE Mar 2023	30.3	−39.0%	Cons. · Japanese GAAP
FYE Mar 2024	37.7	+24.5%	Cons. · Japanese GAAP
FYE Mar 2025	51.0	+35.3%	Cons. · Japanese GAAP
FYE Mar 2026	45.6	−10.7%	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 ¥9.4bn

CAGR · 10 yrs −3.2%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	12.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.1	−75.3%	Cons. · Japanese GAAP
FYE Mar 2019	-0.7	−123.5%	Cons. · Japanese GAAP
FYE Mar 2020	27.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-1.6	−106.0%	Cons. · Japanese GAAP
FYE Mar 2022	26.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-1.0	−103.9%	Cons. · Japanese GAAP
FYE Mar 2024	-11.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2026	9.4	−10.6%	Cons. · Japanese GAAP

Definition: What is left once the business has paid for its own investment
Formula: Operating cash flow + investing cash flow
Source: Securities report (XBRL)

Operating cash flow margin

FYE Mar 2026 10.5%

Average · 10 yrs 9.9%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	10.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.7	−6.6pp	Cons. · Japanese GAAP
FYE Mar 2019	11.1	+7.4pp	Cons. · Japanese GAAP
FYE Mar 2020	15.8	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2021	11.4	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2022	9.1	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	6.9	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	8.0	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	12.1	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2026	10.5	−1.7pp	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 ¥19bn

CAGR · 10 yrs −8.9%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	43.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.1	−5.6%	Cons. · Japanese GAAP
FYE Mar 2019	34.4	−16.2%	Cons. · Japanese GAAP
FYE Mar 2020	54.9	+59.5%	Cons. · Japanese GAAP
FYE Mar 2021	41.5	−24.4%	Cons. · Japanese GAAP
FYE Mar 2022	48.2	+16.2%	Cons. · Japanese GAAP
FYE Mar 2023	29.0	−39.9%	Cons. · Japanese GAAP
FYE Mar 2024	11.3	−61.1%	Cons. · Japanese GAAP
FYE Mar 2025	15.1	+34.1%	Cons. · Japanese GAAP
FYE Mar 2026	18.8	+24.3%	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 ¥412bn

Change · 10 yrs −¥96bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	509	n/a
FYE Mar 2018	471	n/a
FYE Mar 2019	399	n/a
FYE Mar 2020	392	n/a
FYE Mar 2021	377	n/a
FYE Mar 2022	316	n/a
FYE Mar 2023	372	n/a
FYE Mar 2024	458	n/a
FYE Mar 2025	374	n/a
FYE Mar 2026	412	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 3,080¥

Change · 10 yrs −722¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	3,801	n/a
FYE Mar 2018	3,515	n/a
FYE Mar 2019	2,980	n/a
FYE Mar 2020	2,926	n/a
FYE Mar 2021	2,818	n/a
FYE Mar 2022	2,357	n/a
FYE Mar 2023	2,775	n/a
FYE Mar 2024	3,423	n/a
FYE Mar 2025	2,791	n/a
FYE Mar 2026	3,080	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 133,929,800shares

Change · 10 yrs +108,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	133,821,800	Parent
FYE Mar 2018	133,875,800	Parent
FYE Mar 2019	133,921,800	Parent
FYE Mar 2020	133,929,800	Parent
FYE Mar 2021	133,929,800	Parent
FYE Mar 2022	133,929,800	Parent
FYE Mar 2023	133,929,800	Parent
FYE Mar 2024	133,929,800	Parent
FYE Mar 2025	133,929,800	Parent
FYE Mar 2026	133,929,800	Parent

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

EPS earnings per share

FYE Mar 2026 139.98¥

Change · 10 yrs +0.74¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	139.24	Cons.
FYE Mar 2018	129.72	Cons.
FYE Mar 2019	145.39	Cons.
FYE Mar 2020	131.22	Cons.
FYE Mar 2021	132.30	Cons.
FYE Mar 2022	136.25	Cons.
FYE Mar 2023	115.16	Cons.
FYE Mar 2024	159.22	Cons.
FYE Mar 2025	167.11	Cons.
FYE Mar 2026	139.98	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 1,572.49¥

Change · 10 yrs +615.01¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	957.48	Cons. · Japanese GAAP
FYE Mar 2018	1,041.14	Cons. · Japanese GAAP
FYE Mar 2019	1,149.44	Cons. · Japanese GAAP
FYE Mar 2020	1,218.86	Cons. · Japanese GAAP
FYE Mar 2021	1,309.41	Cons. · Japanese GAAP
FYE Mar 2022	1,309.49	Cons. · Japanese GAAP
FYE Mar 2023	1,300.02	Cons. · Japanese GAAP
FYE Mar 2024	1,431.73	Cons. · Japanese GAAP
FYE Mar 2025	1,532.00	Cons. · Japanese GAAP
FYE Mar 2026	1,572.49	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 22.00×

Average · 10 yrs 22.01×

Fiscal year	PER ×	Basis
FYE Mar 2017	27.30	Cons.
FYE Mar 2018	27.10	Cons.
FYE Mar 2019	20.50	Cons.
FYE Mar 2020	22.30	Cons.
FYE Mar 2021	21.30	Cons.
FYE Mar 2022	17.30	Cons.
FYE Mar 2023	24.10	Cons.
FYE Mar 2024	21.50	Cons.
FYE Mar 2025	16.70	Cons.
FYE Mar 2026	22.00	Cons.

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

PBR price-to-book ratio

FYE Mar 2026 1.78×

Average · 10 yrs 2.39×

Fiscal year	PBR ×	Basis
FYE Mar 2017	3.97	Cons.
FYE Mar 2018	3.37	Cons.
FYE Mar 2019	2.59	Cons.
FYE Mar 2020	2.40	Cons.
FYE Mar 2021	2.15	Cons.
FYE Mar 2022	1.74	Cons.
FYE Mar 2023	1.99	Cons.
FYE Mar 2024	2.23	Cons.
FYE Mar 2025	1.70	Cons.
FYE Mar 2026	1.78	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 6,974people

Change · 10 yrs +3,114 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	3,860	n/a	Cons.
FYE Mar 2018	3,798	−1.6%	Cons.
FYE Mar 2019	3,763	−0.9%	Cons.
FYE Mar 2020	4,053	+7.7%	Cons.
FYE Mar 2021	4,311	+6.4%	Cons.
FYE Mar 2022	4,398	+2.0%	Cons.
FYE Mar 2023	4,839	+10.0%	Cons.
FYE Mar 2024	4,939	+2.1%	Cons.
FYE Mar 2025	5,138	+4.0%	Cons.
FYE Mar 2026	6,974	+35.7%	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 3,711people

Change · 10 yrs +1,985 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,726	n/a	Parent
FYE Mar 2018	1,737	+0.6%	Parent
FYE Mar 2019	1,735	−0.1%	Parent
FYE Mar 2020	1,765	+1.7%	Parent
FYE Mar 2021	1,841	+4.3%	Parent
FYE Mar 2022	1,883	+2.3%	Parent
FYE Mar 2023	1,960	+4.1%	Parent
FYE Mar 2024	2,148	+9.6%	Parent
FYE Mar 2025	2,290	+6.6%	Parent
FYE Mar 2026	3,711	+62.1%	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 ¥6.9m

Change · 8 yrs −¥0.4m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	7.2	n/a	Parent
FYE Mar 2020	7.2	−0.4%	Parent
FYE Mar 2021	7.5	+4.6%	Parent
FYE Mar 2022	8.0	+5.8%	Parent
FYE Mar 2023	7.7	−3.5%	Parent
FYE Mar 2024	7.7	+0.1%	Parent
FYE Mar 2025	8.2	+6.5%	Parent
FYE Mar 2026	6.9	−16.4%	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 42.2years

Change · 8 yrs +2.7 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	39.5	n/a	Parent
FYE Mar 2020	40.3	+2.0%	Parent
FYE Mar 2021	39.5	−2.0%	Parent
FYE Mar 2022	40.4	+2.3%	Parent
FYE Mar 2023	40.9	+1.2%	Parent
FYE Mar 2024	40.5	−1.0%	Parent
FYE Mar 2025	39.6	−2.2%	Parent
FYE Mar 2026	42.2	+6.6%	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 12.6years

Change · 8 yrs −2.3 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	14.9	n/a	Parent
FYE Mar 2020	15.3	+2.7%	Parent
FYE Mar 2021	14.9	−2.6%	Parent
FYE Mar 2022	15.3	+2.7%	Parent
FYE Mar 2023	15.5	+1.3%	Parent
FYE Mar 2024	14.4	−7.1%	Parent
FYE Mar 2025	13.9	−3.5%	Parent
FYE Mar 2026	12.6	−9.4%	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 2,374people

Change · 10 yrs −1,352 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	3,726	n/a	n/a
FYE Mar 2018	3,856	+3.5%	n/a
FYE Mar 2019	3,222	−16.4%	n/a
FYE Mar 2020	3,142	−2.5%	n/a
FYE Mar 2021	3,414	+8.7%	n/a
FYE Mar 2022	3,590	+5.2%	n/a
FYE Mar 2023	3,653	+1.8%	n/a
FYE Mar 2024	3,609	−1.2%	n/a
FYE Mar 2025	3,591	−0.5%	n/a
FYE Mar 2026	2,374	−33.9%	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 ¥48.8m

Change · 10 yrs −¥16.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	65.4	n/a	Cons.
FYE Mar 2018	66.2	+1.3%	Cons.
FYE Mar 2019	66.1	−0.2%	Cons.
FYE Mar 2020	63.1	−4.4%	Cons.
FYE Mar 2021	61.9	−2.0%	Cons.
FYE Mar 2022	55.8	−9.8%	Cons.
FYE Mar 2023	57.7	+3.4%	Cons.
FYE Mar 2024	61.4	+6.3%	Cons.
FYE Mar 2025	62.8	+2.3%	Cons.
FYE Mar 2026	48.8	−22.3%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥3.8m

Change · 10 yrs −¥3.7m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	7.5	n/a	Cons.
FYE Mar 2018	7.1	−5.5%	Cons.
FYE Mar 2019	7.2	+1.4%	Cons.
FYE Mar 2020	6.8	−4.7%	Cons.
FYE Mar 2021	6.3	−8.0%	Cons.
FYE Mar 2022	5.7	−9.0%	Cons.
FYE Mar 2023	4.6	−19.6%	Cons.
FYE Mar 2024	5.5	+20.3%	Cons.
FYE Mar 2025	5.7	+2.3%	Cons.
FYE Mar 2026	3.8	−33.7%	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.

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