Financials

Meiji Holdings: FYE Mar 2026 and ten years of results (51 metrics)

FYE Mar 2026 · Revenue¥1.17tnYoY +1.7%

FYE Mar 2026 · Operating profit¥93bnYoY +10.2%

FYE Mar 2026 · Net profit¥35bnYoY −31.0%

FYE Mar 2026 · Equity ratio61.2%YoY −1.9pp

FYE Mar 2026 · Group employees17,103YoY −128

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.24tn	n/a	¥88bn	n/a	7.1%	¥61bn	Matsuo Masahiko	—
FYE Mar 2018Consolidated	¥1.24tn	−0.1%	¥95bn	+7.1%	7.6%	¥61bn	Matsuo Masahiko	—
FYE Mar 2019Consolidated	¥1.25tn	+1.1%	¥98bn	+3.9%	7.8%	¥62bn	Matsuo Masahiko	KM Biologics acquired — a vaccine foothold
FYE Mar 2020Consolidated	¥1.25tn	−0.1%	¥103bn	+4.4%	8.2%	¥67bn	Kawamura Kazuo	—
FYE Mar 2021Consolidated	¥1.19tn	−4.9%	¥106bn	+3.3%	8.9%	¥66bn	Kawamura Kazuo	—
FYE Mar 2022Consolidated	¥1.01tn	−15.0%	¥93bn	−12.4%	9.2%	¥87bn	Kawamura Kazuo	Medium-term plan under “ROESG” management
FYE Mar 2023Consolidated	¥1.06tn	+4.8%	¥75bn	−18.8%	7.1%	¥69bn	Kawamura Kazuo	Moves to the Prime market; cost and energy inflation bite
FYE Mar 2024Consolidated	¥1.11tn	+4.1%	¥84bn	+11.8%	7.6%	¥51bn	Kawamura Kazuo	—
FYE Mar 2025Consolidated	¥1.15tn	+4.4%	¥85bn	+0.5%	7.3%	¥51bn	Kawamura Kazuo	New medium-term plan; Kostaive backlash surfaces
FYE Mar 2026Consolidated	¥1.17tn	+1.7%	¥93bn	+10.2%	7.9%	¥35bn	Kawamura Kazuo	Katsunari Matsuda becomes president

How it compares

Meiji Holdings¥1.17tnFY2025Operating margin 7.9%

Meiji Dairies CorporationDelisted 2009

MEGMILK SNOW BRAND¥616bnFY2025Operating margin 3.0%Morinaga Milk Industry¥571bnFY2025Operating margin 6.0%Snow Brand Milk ProductsDelisted 2009

B-R 31 ICE CREAM CO.,LTD.¥34bnFY2025Operating margin 8.1%

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 ¥1.17tn

CAGR · 10 yrs −0.6%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,242	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,241	−0.1%	Cons. · Japanese GAAP
FYE Mar 2019	1,254	+1.1%	Cons. · Japanese GAAP
FYE Mar 2020	1,253	−0.1%	Cons. · Japanese GAAP
FYE Mar 2021	1,192	−4.9%	Cons. · Japanese GAAP
FYE Mar 2022	1,013	−15.0%	Cons. · Japanese GAAP
FYE Mar 2023	1,062	+4.8%	Cons. · Japanese GAAP
FYE Mar 2024	1,105	+4.1%	Cons. · Japanese GAAP
FYE Mar 2025	1,154	+4.4%	Cons. · Japanese GAAP
FYE Mar 2026	1,174	+1.7%	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 ¥815bn

CAGR · 10 yrs +0.5%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	781	n/a	Cons. · Japanese GAAP
FYE Mar 2018	786	+0.6%	Cons. · Japanese GAAP
FYE Mar 2019	798	+1.5%	Cons. · Japanese GAAP
FYE Mar 2020	790	−1.0%	Cons. · Japanese GAAP
FYE Mar 2021	742	−6.1%	Cons. · Japanese GAAP
FYE Mar 2022	690	−7.0%	Cons. · Japanese GAAP
FYE Mar 2023	755	+9.5%	Cons. · Japanese GAAP
FYE Mar 2024	778	+3.0%	Cons. · Japanese GAAP
FYE Mar 2025	815	+4.7%	Cons. · Japanese GAAP
FYE Mar 2026	815	−0.0%	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 ¥359bn

CAGR · 10 yrs −2.7%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	461	n/a	Cons. · Japanese GAAP
FYE Mar 2018	455	−1.4%	Cons. · Japanese GAAP
FYE Mar 2019	457	+0.4%	Cons. · Japanese GAAP
FYE Mar 2020	463	+1.3%	Cons. · Japanese GAAP
FYE Mar 2021	450	−2.8%	Cons. · Japanese GAAP
FYE Mar 2022	323	−28.1%	Cons. · Japanese GAAP
FYE Mar 2023	307	−5.1%	Cons. · Japanese GAAP
FYE Mar 2024	327	+6.7%	Cons. · Japanese GAAP
FYE Mar 2025	339	+3.6%	Cons. · Japanese GAAP
FYE Mar 2026	359	+5.9%	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 ¥266bn

CAGR · 10 yrs −3.7%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	373	n/a	Cons. · Japanese GAAP
FYE Mar 2018	360	−3.4%	Cons. · Japanese GAAP
FYE Mar 2019	358	−0.6%	Cons. · Japanese GAAP
FYE Mar 2020	360	+0.5%	Cons. · Japanese GAAP
FYE Mar 2021	344	−4.5%	Cons. · Japanese GAAP
FYE Mar 2022	230	−33.0%	Cons. · Japanese GAAP
FYE Mar 2023	231	+0.5%	Cons. · Japanese GAAP
FYE Mar 2024	243	+5.0%	Cons. · Japanese GAAP
FYE Mar 2025	254	+4.7%	Cons. · Japanese GAAP
FYE Mar 2026	266	+4.5%	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 ¥93bn

CAGR · 10 yrs +0.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	88.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	94.7	+7.1%	Cons. · Japanese GAAP
FYE Mar 2019	98.4	+3.9%	Cons. · Japanese GAAP
FYE Mar 2020	103	+4.4%	Cons. · Japanese GAAP
FYE Mar 2021	106	+3.3%	Cons. · Japanese GAAP
FYE Mar 2022	92.9	−12.4%	Cons. · Japanese GAAP
FYE Mar 2023	75.4	−18.8%	Cons. · Japanese GAAP
FYE Mar 2024	84.3	+11.8%	Cons. · Japanese GAAP
FYE Mar 2025	84.7	+0.5%	Cons. · Japanese GAAP
FYE Mar 2026	93.3	+10.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥6.9bn

CAGR · 10 yrs +8.4%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.6	+7.7%	Cons. · Japanese GAAP
FYE Mar 2019	3.8	+7.1%	Cons. · Japanese GAAP
FYE Mar 2020	4.9	+28.6%	Cons. · Japanese GAAP
FYE Mar 2021	6.9	+40.3%	Cons. · Japanese GAAP
FYE Mar 2022	5.4	−22.3%	Cons. · Japanese GAAP
FYE Mar 2023	4.6	−14.6%	Cons. · Japanese GAAP
FYE Mar 2024	4.0	−12.3%	Cons. · Japanese GAAP
FYE Mar 2025	4.2	+4.9%	Cons. · Japanese GAAP
FYE Mar 2026	6.9	+63.1%	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 ¥3.6bn

CAGR · 10 yrs +2.6%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.4	−17.4%	Cons. · Japanese GAAP
FYE Mar 2019	2.5	+5.6%	Cons. · Japanese GAAP
FYE Mar 2020	4.3	+71.8%	Cons. · Japanese GAAP
FYE Mar 2021	2.8	−34.8%	Cons. · Japanese GAAP
FYE Mar 2022	4.3	+53.2%	Cons. · Japanese GAAP
FYE Mar 2023	5.9	+35.9%	Cons. · Japanese GAAP
FYE Mar 2024	12.3	+110.0%	Cons. · Japanese GAAP
FYE Mar 2025	6.9	−43.9%	Cons. · Japanese GAAP
FYE Mar 2026	3.6	−47.4%	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 ¥97bn

CAGR · 10 yrs +0.9%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	88.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	95.9	+7.9%	Cons. · Japanese GAAP
FYE Mar 2019	99.7	+4.0%	Cons. · Japanese GAAP
FYE Mar 2020	103	+3.6%	Cons. · Japanese GAAP
FYE Mar 2021	110	+6.6%	Cons. · Japanese GAAP
FYE Mar 2022	94.0	−14.7%	Cons. · Japanese GAAP
FYE Mar 2023	74.2	−21.1%	Cons. · Japanese GAAP
FYE Mar 2024	76.0	+2.5%	Cons. · Japanese GAAP
FYE Mar 2025	82.0	+7.9%	Cons. · Japanese GAAP
FYE Mar 2026	96.6	+17.8%	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 ¥14bn

CAGR · 10 yrs +6.6%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	8.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.6	−5.1%	Cons. · Japanese GAAP
FYE Mar 2019	13.4	+77.7%	Cons. · Japanese GAAP
FYE Mar 2020	2.0	−84.9%	Cons. · Japanese GAAP
FYE Mar 2021	2.2	+7.4%	Cons. · Japanese GAAP
FYE Mar 2022	50.8	+2229.4%	Cons. · Japanese GAAP
FYE Mar 2023	29.6	−41.7%	Cons. · Japanese GAAP
FYE Mar 2024	35.9	+21.4%	Cons. · Japanese GAAP
FYE Mar 2025	7.1	−80.3%	Cons. · Japanese GAAP
FYE Mar 2026	14.2	+100.3%	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 ¥35bn

CAGR · 10 yrs −5.9%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	60.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	61.3	+0.8%	Cons. · Japanese GAAP
FYE Mar 2019	61.9	+1.0%	Cons. · Japanese GAAP
FYE Mar 2020	67.3	+8.8%	Cons. · Japanese GAAP
FYE Mar 2021	65.7	−2.5%	Cons. · Japanese GAAP
FYE Mar 2022	87.5	+33.3%	Cons. · Japanese GAAP
FYE Mar 2023	69.4	−20.7%	Cons. · Japanese GAAP
FYE Mar 2024	50.7	−27.0%	Cons. · Japanese GAAP
FYE Mar 2025	50.8	+0.2%	Cons. · Japanese GAAP
FYE Mar 2026	35.1	−31.0%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 30.6%

Average · 10 yrs 33.5%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	37.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	36.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	36.9	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	37.7	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	31.9	−5.8pp	Cons. · Japanese GAAP
FYE Mar 2023	28.9	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2024	29.6	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	29.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	30.6	+1.2pp	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 7.9%

Average · 10 yrs 7.9%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	7.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	8.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	8.9	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	9.2	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	7.1	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	7.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	7.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	7.9	+0.6pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Mar 2026 8.2%

Average · 10 yrs 7.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	7.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.7	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	7.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	8.2	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	9.2	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	9.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2023	7.0	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2024	6.9	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	7.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	8.2	+1.1pp	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 3.0%

Average · 10 yrs 5.3%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	4.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	4.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	5.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	5.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	8.6	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2023	6.5	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	4.6	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2025	4.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	3.0	−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 69.4%

Average · 10 yrs 66.5%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	62.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	63.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	63.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	63.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	62.3	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	68.1	+5.8pp	Cons. · Japanese GAAP
FYE Mar 2023	71.1	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2024	70.4	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	70.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	69.4	−1.2pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by the cost of sales
Formula: Cost of sales ÷ revenue
Source: Securities report (XBRL)

SG&A ratio

FYE Mar 2026 22.6%

Average · 10 yrs 25.6%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	30.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.0	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	28.6	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	28.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	28.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	22.7	−6.1pp	Cons. · Japanese GAAP
FYE Mar 2023	21.8	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	22.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	22.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	22.6	+0.6pp	Cons. · Japanese GAAP

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

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

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥1.26tn

CAGR · 10 yrs +4.0%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	884	n/a	Cons. · Japanese GAAP
FYE Mar 2018	925	+4.7%	Cons. · Japanese GAAP
FYE Mar 2019	1,004	+8.5%	Cons. · Japanese GAAP
FYE Mar 2020	999	−0.5%	Cons. · Japanese GAAP
FYE Mar 2021	1,067	+6.8%	Cons. · Japanese GAAP
FYE Mar 2022	1,117	+4.7%	Cons. · Japanese GAAP
FYE Mar 2023	1,136	+1.7%	Cons. · Japanese GAAP
FYE Mar 2024	1,205	+6.1%	Cons. · Japanese GAAP
FYE Mar 2025	1,184	−1.7%	Cons. · Japanese GAAP
FYE Mar 2026	1,262	+6.5%	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 ¥773bn

CAGR · 10 yrs +6.2%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	449	n/a	Cons. · Japanese GAAP
FYE Mar 2018	487	+8.6%	Cons. · Japanese GAAP
FYE Mar 2019	527	+8.2%	Cons. · Japanese GAAP
FYE Mar 2020	563	+6.7%	Cons. · Japanese GAAP
FYE Mar 2021	621	+10.4%	Cons. · Japanese GAAP
FYE Mar 2022	673	+8.4%	Cons. · Japanese GAAP
FYE Mar 2023	712	+5.7%	Cons. · Japanese GAAP
FYE Mar 2024	747	+4.9%	Cons. · Japanese GAAP
FYE Mar 2025	748	+0.2%	Cons. · Japanese GAAP
FYE Mar 2026	773	+3.2%	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 ¥89bn

CAGR · 10 yrs −1.3%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	99.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	99.1	−0.4%	Cons. · Japanese GAAP
FYE Mar 2019	96.4	−2.7%	Cons. · Japanese GAAP
FYE Mar 2020	86.8	−10.0%	Cons. · Japanese GAAP
FYE Mar 2021	71.8	−17.3%	Cons. · Japanese GAAP
FYE Mar 2022	51.3	−28.6%	Cons. · Japanese GAAP
FYE Mar 2023	44.4	−13.5%	Cons. · Japanese GAAP
FYE Mar 2024	39.9	−10.0%	Cons. · Japanese GAAP
FYE Mar 2025	37.8	−5.3%	Cons. · Japanese GAAP
FYE Mar 2026	88.6	+134.4%	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 ¥21bn

CAGR · 10 yrs −9.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	50.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	49.7	−1.6%	Cons. · Japanese GAAP
FYE Mar 2019	33.6	−32.5%	Cons. · Japanese GAAP
FYE Mar 2020	30.9	−8.1%	Cons. · Japanese GAAP
FYE Mar 2021	17.3	−44.1%	Cons. · Japanese GAAP
FYE Mar 2022	18.2	+5.7%	Cons. · Japanese GAAP
FYE Mar 2023	4.9	−73.3%	Cons. · Japanese GAAP
FYE Mar 2024	22.3	+358.1%	Cons. · Japanese GAAP
FYE Mar 2025	25.4	+13.6%	Cons. · Japanese GAAP
FYE Mar 2026	21.3	−16.0%	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 ¥67bn

CAGR · 10 yrs +3.6%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	48.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	49.4	+0.9%	Cons. · Japanese GAAP
FYE Mar 2019	62.8	+27.2%	Cons. · Japanese GAAP
FYE Mar 2020	55.9	−11.0%	Cons. · Japanese GAAP
FYE Mar 2021	54.5	−2.4%	Cons. · Japanese GAAP
FYE Mar 2022	33.0	−39.4%	Cons. · Japanese GAAP
FYE Mar 2023	39.5	+19.5%	Cons. · Japanese GAAP
FYE Mar 2024	17.6	−55.4%	Cons. · Japanese GAAP
FYE Mar 2025	12.4	−29.4%	Cons. · Japanese GAAP
FYE Mar 2026	67.3	+441.5%	Cons. · Japanese GAAP

Definition: Borrowings repayable in more than a year
Formula: Long-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Bonds

FYE Mar 2026 n/a

CAGR · 9 yrs −12.8%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	30.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.0	−33.3%	Cons. · Japanese GAAP
FYE Mar 2019	20.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	20.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	30.0	+50.0%	Cons. · Japanese GAAP
FYE Mar 2022	30.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	20.0	−33.3%	Cons. · Japanese GAAP
FYE Mar 2024	10.0	−50.0%	Cons. · Japanese GAAP
FYE Mar 2025	10.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: Bonds outstanding
Formula: Bonds line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥22bn

CAGR · 10 yrs −1.9%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	25.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.6	−13.0%	Cons. · Japanese GAAP
FYE Mar 2019	13.6	−39.9%	Cons. · Japanese GAAP
FYE Mar 2020	14.3	+5.5%	Cons. · Japanese GAAP
FYE Mar 2021	16.0	+11.9%	Cons. · Japanese GAAP
FYE Mar 2022	18.2	+13.5%	Cons. · Japanese GAAP
FYE Mar 2023	21.5	+18.4%	Cons. · Japanese GAAP
FYE Mar 2024	21.0	−2.3%	Cons. · Japanese GAAP
FYE Mar 2025	19.2	−8.4%	Cons. · Japanese GAAP
FYE Mar 2026	21.8	+13.3%	Cons. · Japanese GAAP

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

Goodwill

FYE Mar 2026 n/a

CAGR · 7 yrs −69.2%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	12.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.6	−17.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−99.3%	Cons. · Japanese GAAP
FYE Mar 2020	0.1	−21.9%	Cons. · Japanese GAAP
FYE Mar 2021	0.0	−26.3%	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−38.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−57.7%	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: What an acquisition cost above the net assets it brought
Formula: Goodwill line of the balance sheet
Source: Securities report (XBRL)

Equity ratio

FYE Mar 2026 61.2%

Average · 10 yrs 58.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	50.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	52.7	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2019	52.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	56.3	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2021	58.2	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	60.3	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2023	62.7	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2024	61.9	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	63.2	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	61.2	−1.9pp	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 11.5%

Average · 10 yrs 12.3%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	22.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.3	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2019	18.3	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2020	15.4	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2021	11.6	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2022	7.6	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2023	6.2	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	5.3	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	5.1	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	11.5	+6.4pp	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 4.5%

Average · 10 yrs 10.1%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	13.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.6	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	11.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	12.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	10.6	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2022	13.0	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	9.8	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2024	6.8	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2025	6.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	4.5	−2.2pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 2.8%

Average · 10 yrs 5.8%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	6.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.6	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	6.2	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	6.7	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	6.2	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	7.8	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2023	6.1	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	4.2	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2025	4.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	2.8	−1.5pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.93×

CAGR · 10 yrs −4.5%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.41	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.34	−4.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.25	−6.9%	Cons. · Japanese GAAP
FYE Mar 2020	1.25	+0.4%	Cons. · Japanese GAAP
FYE Mar 2021	1.12	−10.9%	Cons. · Japanese GAAP
FYE Mar 2022	0.91	−18.8%	Cons. · Japanese GAAP
FYE Mar 2023	0.93	+3.1%	Cons. · Japanese GAAP
FYE Mar 2024	0.92	−1.9%	Cons. · Japanese GAAP
FYE Mar 2025	0.97	+6.2%	Cons. · Japanese GAAP
FYE Mar 2026	0.93	−4.5%	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 ¥57bn

CAGR · 10 yrs −4.0%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	81.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	109	+32.8%	Cons. · Japanese GAAP
FYE Mar 2019	112	+3.1%	Cons. · Japanese GAAP
FYE Mar 2020	114	+1.8%	Cons. · Japanese GAAP
FYE Mar 2021	124	+8.4%	Cons. · Japanese GAAP
FYE Mar 2022	128	+3.1%	Cons. · Japanese GAAP
FYE Mar 2023	85.0	−33.3%	Cons. · Japanese GAAP
FYE Mar 2024	108	+27.0%	Cons. · Japanese GAAP
FYE Mar 2025	69.0	−36.1%	Cons. · Japanese GAAP
FYE Mar 2026	56.5	−18.1%	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 -¥110bn

Average · 10 yrs -¥61bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-44.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-64.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-100	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-70.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-93.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-27.6	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-36.8	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-24.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-40.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-110	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 ¥35bn

Average · 10 yrs -¥36bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-46.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-40.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-14.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-30.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-28.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-77.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-54.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-43.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-61.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	34.6	n/a	Cons. · Japanese GAAP

Definition: Cash raised from, or returned to, lenders and shareholders
Formula: Cash flow from financing activities
Source: Securities report (XBRL)

Cash and equivalents

FYE Mar 2026 ¥50bn

CAGR · 10 yrs +9.1%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	22.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.9	+19.0%	Cons. · Japanese GAAP
FYE Mar 2019	24.5	−9.0%	Cons. · Japanese GAAP
FYE Mar 2020	37.1	+51.6%	Cons. · Japanese GAAP
FYE Mar 2021	39.0	+5.1%	Cons. · Japanese GAAP
FYE Mar 2022	64.9	+66.3%	Cons. · Japanese GAAP
FYE Mar 2023	60.9	−6.1%	Cons. · Japanese GAAP
FYE Mar 2024	103	+68.7%	Cons. · Japanese GAAP
FYE Mar 2025	66.4	−35.4%	Cons. · Japanese GAAP
FYE Mar 2026	49.6	−25.3%	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 -¥54bn

Average · 10 yrs ¥37bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	37.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	44.4	+18.0%	Cons. · Japanese GAAP
FYE Mar 2019	11.9	−73.2%	Cons. · Japanese GAAP
FYE Mar 2020	43.3	+263.9%	Cons. · Japanese GAAP
FYE Mar 2021	30.6	−29.4%	Cons. · Japanese GAAP
FYE Mar 2022	99.9	+226.8%	Cons. · Japanese GAAP
FYE Mar 2023	48.2	−51.7%	Cons. · Japanese GAAP
FYE Mar 2024	83.4	+72.9%	Cons. · Japanese GAAP
FYE Mar 2025	28.3	−66.0%	Cons. · Japanese GAAP
FYE Mar 2026	-53.9	−290.0%	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 4.8%

Average · 10 yrs 8.5%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	6.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.8	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2019	8.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	9.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	10.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	12.6	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2023	8.0	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2024	9.8	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	6.0	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2026	4.8	−1.2pp	Cons. · Japanese GAAP

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

Net cash

FYE Mar 2026 -¥39bn

Average · 10 yrs -¥22bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-76.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-72.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-71.9	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-49.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-32.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	13.6	n/a	Cons. · Japanese GAAP
FYE Mar 2023	16.6	+21.8%	Cons. · Japanese GAAP
FYE Mar 2024	62.9	+279.7%	Cons. · Japanese GAAP
FYE Mar 2025	28.6	−54.5%	Cons. · Japanese GAAP
FYE Mar 2026	-39.0	−236.3%	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 ¥1.09tn

Change · 10 yrs −¥325bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	1,413	n/a
FYE Mar 2018	1,238	n/a
FYE Mar 2019	1,374	n/a
FYE Mar 2020	1,169	n/a
FYE Mar 2021	1,085	n/a
FYE Mar 2022	982	n/a
FYE Mar 2023	940	n/a
FYE Mar 2024	991	n/a
FYE Mar 2025	919	n/a
FYE Mar 2026	1,088	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 3,857¥

Change · 10 yrs −5,397¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	9,254	n/a
FYE Mar 2018	8,105	n/a
FYE Mar 2019	9,001	n/a
FYE Mar 2020	7,657	n/a
FYE Mar 2021	7,105	n/a
FYE Mar 2022	6,619	n/a
FYE Mar 2023	6,333	n/a
FYE Mar 2024	3,379	n/a
FYE Mar 2025	3,256	n/a
FYE Mar 2026	3,857	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 282,200,000shares

Change · 10 yrs +129,517,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	152,683,000	Parent
FYE Mar 2018	152,683,000	Parent
FYE Mar 2019	152,683,000	Parent
FYE Mar 2020	152,683,000	Parent
FYE Mar 2021	152,683,000	Parent
FYE Mar 2022	148,369,000	Parent
FYE Mar 2023	148,369,000	Parent
FYE Mar 2024	293,459,000	Parent
FYE Mar 2025	282,200,000	Parent
FYE Mar 2026	282,200,000	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 129.42¥

Change · 10 yrs −283.69¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	413.11	Cons.
FYE Mar 2018	422.15	Cons.
FYE Mar 2019	213.30	Cons.
FYE Mar 2020	232.04	Cons.
FYE Mar 2021	226.26	Cons.
FYE Mar 2022	303.62	Cons.
FYE Mar 2023	247.39	Cons.
FYE Mar 2024	181.64	Cons.
FYE Mar 2025	186.08	Cons.
FYE Mar 2026	129.42	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 2,737.73¥

Change · 10 yrs −202.36¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	2,940.09	Cons. · Japanese GAAP
FYE Mar 2018	3,191.65	Cons. · Japanese GAAP
FYE Mar 2019	3,453.63	Cons. · Japanese GAAP
FYE Mar 2020	3,685.77	Cons. · Japanese GAAP
FYE Mar 2021	4,070.05	Cons. · Japanese GAAP
FYE Mar 2022	4,538.26	Cons. · Japanese GAAP
FYE Mar 2023	4,798.29	Cons. · Japanese GAAP
FYE Mar 2024	2,543.91	Cons. · Japanese GAAP
FYE Mar 2025	2,651.63	Cons. · Japanese GAAP
FYE Mar 2026	2,737.73	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 29.80×

Average · 10 yrs 18.45×

Fiscal year	PER ×	Basis
FYE Mar 2017	22.40	Cons.
FYE Mar 2018	19.20	Cons.
FYE Mar 2019	21.10	Cons.
FYE Mar 2020	16.50	Cons.
FYE Mar 2021	15.70	Cons.
FYE Mar 2022	10.90	Cons.
FYE Mar 2023	12.80	Cons.
FYE Mar 2024	18.60	Cons.
FYE Mar 2025	17.50	Cons.
FYE Mar 2026	29.80	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 1.35×

Average · 10 yrs 1.80×

Fiscal year	PBR ×	Basis
FYE Mar 2017	3.02	Cons.
FYE Mar 2018	2.41	Cons.
FYE Mar 2019	2.48	Cons.
FYE Mar 2020	1.97	Cons.
FYE Mar 2021	1.66	Cons.
FYE Mar 2022	1.38	Cons.
FYE Mar 2023	1.24	Cons.
FYE Mar 2024	1.26	Cons.
FYE Mar 2025	1.18	Cons.
FYE Mar 2026	1.35	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 17,103people

Change · 10 yrs +377 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	16,726	n/a	Cons.
FYE Mar 2018	16,296	−2.6%	Cons.
FYE Mar 2019	17,608	+8.1%	Cons.
FYE Mar 2020	17,571	−0.2%	Cons.
FYE Mar 2021	17,832	+1.5%	Cons.
FYE Mar 2022	17,336	−2.8%	Cons.
FYE Mar 2023	17,290	−0.3%	Cons.
FYE Mar 2024	17,270	−0.1%	Cons.
FYE Mar 2025	17,231	−0.2%	Cons.
FYE Mar 2026	17,103	−0.7%	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 298people

Change · 10 yrs +262 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	36	n/a	Parent
FYE Mar 2018	35	−2.8%	Parent
FYE Mar 2019	34	−2.9%	Parent
FYE Mar 2020	54	+58.8%	Parent
FYE Mar 2021	66	+22.2%	Parent
FYE Mar 2022	85	+28.8%	Parent
FYE Mar 2023	99	+16.5%	Parent
FYE Mar 2024	116	+17.2%	Parent
FYE Mar 2025	295	+154.3%	Parent
FYE Mar 2026	298	+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 ¥9.4m

Change · 10 yrs −¥0.4m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	9.7	n/a	Parent
FYE Mar 2018	9.7	−0.7%	Parent
FYE Mar 2019	10.0	+3.0%	Parent
FYE Mar 2020	10.2	+2.4%	Parent
FYE Mar 2021	10.0	−2.1%	Parent
FYE Mar 2022	10.2	+1.6%	Parent
FYE Mar 2023	10.1	−0.1%	Parent
FYE Mar 2024	10.4	+2.3%	Parent
FYE Mar 2025	9.1	−12.2%	Parent
FYE Mar 2026	9.4	+3.1%	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 43.0years

Change · 8 yrs −0.1 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	43.1	n/a	Parent
FYE Mar 2020	44.1	+2.3%	Parent
FYE Mar 2021	44.1	−0.0%	Parent
FYE Mar 2022	44.9	+1.8%	Parent
FYE Mar 2023	44.9	−0.0%	Parent
FYE Mar 2024	45.7	+1.8%	Parent
FYE Mar 2025	42.7	−6.6%	Parent
FYE Mar 2026	43.0	+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 18.0years

Change · 10 yrs −0.8 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	18.8	n/a	Parent
FYE Mar 2018	19.1	+1.6%	Parent
FYE Mar 2019	20.1	+5.2%	Parent
FYE Mar 2020	20.1	−0.0%	Parent
FYE Mar 2021	20.1	−0.0%	Parent
FYE Mar 2022	20.6	+2.5%	Parent
FYE Mar 2023	20.8	+1.0%	Parent
FYE Mar 2024	20.9	+0.5%	Parent
FYE Mar 2025	18.5	−11.5%	Parent
FYE Mar 2026	18.0	−2.7%	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 6,637people

Change · 10 yrs −3,017 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	9,654	n/a	n/a
FYE Mar 2018	9,257	−4.1%	n/a
FYE Mar 2019	9,723	+5.0%	n/a
FYE Mar 2020	9,234	−5.0%	n/a
FYE Mar 2021	8,369	−9.4%	n/a
FYE Mar 2022	7,864	−6.0%	n/a
FYE Mar 2023	7,242	−7.9%	n/a
FYE Mar 2024	6,835	−5.6%	n/a
FYE Mar 2025	6,779	−0.8%	n/a
FYE Mar 2026	6,637	−2.1%	n/a

Definition: Average number of temporary and part-time staff over the year
Formula: Average temporary headcount, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Mar 2026 ¥68.6m

Change · 10 yrs −¥5.7m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	74.3	n/a	Cons.
FYE Mar 2018	76.1	+2.5%	Cons.
FYE Mar 2019	71.2	−6.4%	Cons.
FYE Mar 2020	71.3	+0.1%	Cons.
FYE Mar 2021	66.8	−6.3%	Cons.
FYE Mar 2022	58.4	−12.6%	Cons.
FYE Mar 2023	61.4	+5.1%	Cons.
FYE Mar 2024	64.0	+4.2%	Cons.
FYE Mar 2025	67.0	+4.6%	Cons.
FYE Mar 2026	68.6	+2.5%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.5m

Change · 10 yrs +¥0.2m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons.
FYE Mar 2018	5.8	+9.9%	Cons.
FYE Mar 2019	5.6	−3.8%	Cons.
FYE Mar 2020	5.8	+4.6%	Cons.
FYE Mar 2021	5.9	+1.8%	Cons.
FYE Mar 2022	5.4	−9.9%	Cons.
FYE Mar 2023	4.4	−18.6%	Cons.
FYE Mar 2024	4.9	+11.9%	Cons.
FYE Mar 2025	4.9	+0.7%	Cons.
FYE Mar 2026	5.5	+11.0%	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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Meiji Holdings’s history, presidents and financials are published as static JSON — no key, plain GET. One API per public page, and one per section where a page carries several tables. Full specification →

/api/2269/company.json ·/api/2269/history.json ·/api/2269/ceo.json ·/api/2269/financials.json ·/api/2269/financials/segment.json ·/api/2269/financials/pl.json ·/api/2269/financials/cf.json ·/api/2269/financials/bs.json ·/api/2269/financials/employee.json ·/api/2269/financials/stock.json ·/api/2269/financials.csv ·/api/2269/financials_history.csv

/api/companies.json ·/api/decisions.json ·/api/api-manifest.json