Financials

MEGMILK SNOW BRAND: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥616bnYoY −0.0%

FYE Mar 2026 · Operating profit¥18bnYoY −4.5%

FYE Mar 2026 · Net profit¥33bnYoY +136.6%

FYE Mar 2026 · Equity ratio55.7%YoY −1.1pp

FYE Mar 2026 · Group employees5,844YoY +93

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥588bn	n/a	¥19bn	n/a	3.2%	¥13bn	Nishio Keiji	—
FYE Mar 2018Consolidated	¥596bn	+1.4%	¥19bn	+3.3%	3.2%	¥13bn	Nishio Keiji	—
FYE Mar 2019Consolidated	¥603bn	+1.2%	¥17bn	−11.0%	2.9%	¥11bn	Nishio Keiji	—
FYE Mar 2020Consolidated	¥613bn	+1.7%	¥18bn	+4.5%	2.9%	¥12bn	Nishio Keiji	—
FYE Mar 2021Consolidated	¥615bn	+0.3%	¥20bn	+9.9%	3.2%	¥15bn	Nishio Keiji	—
FYE Mar 2022Consolidated	¥558bn	−9.2%	¥18bn	−8.7%	3.2%	¥12bn	Nishio Keiji	Snow Brand Beanstalk made a wholly owned subsidiary
FYE Mar 2023Consolidated	¥584bn	+4.6%	¥13bn	−27.7%	2.2%	¥9.1bn	Nishio Keiji	Moves to the Tokyo Prime market
FYE Mar 2024Consolidated	¥605bn	+3.6%	¥18bn	+41.4%	3.0%	¥19bn	Sato Masatoshi	—
FYE Mar 2025Consolidated	¥616bn	+1.7%	¥19bn	+3.6%	3.1%	¥14bn	Sato Masatoshi	—
FYE Mar 2026Consolidated	¥616bn	−0.0%	¥18bn	−4.5%	3.0%	¥33bn	Sato Masatoshi	Centenary; <strong>Next Design 2030</strong> and the “asset transformation”

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 ¥616bn

CAGR · 10 yrs +0.5%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	588	n/a	Cons. · Japanese GAAP
FYE Mar 2018	596	+1.4%	Cons. · Japanese GAAP
FYE Mar 2019	603	+1.2%	Cons. · Japanese GAAP
FYE Mar 2020	613	+1.7%	Cons. · Japanese GAAP
FYE Mar 2021	615	+0.3%	Cons. · Japanese GAAP
FYE Mar 2022	558	−9.2%	Cons. · Japanese GAAP
FYE Mar 2023	584	+4.6%	Cons. · Japanese GAAP
FYE Mar 2024	605	+3.6%	Cons. · Japanese GAAP
FYE Mar 2025	616	+1.7%	Cons. · Japanese GAAP
FYE Mar 2026	616	−0.0%	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 ¥511bn

CAGR · 10 yrs +1.5%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	446	n/a	Cons. · Japanese GAAP
FYE Mar 2018	452	+1.4%	Cons. · Japanese GAAP
FYE Mar 2019	461	+1.9%	Cons. · Japanese GAAP
FYE Mar 2020	470	+2.0%	Cons. · Japanese GAAP
FYE Mar 2021	473	+0.5%	Cons. · Japanese GAAP
FYE Mar 2022	469	−0.8%	Cons. · Japanese GAAP
FYE Mar 2023	497	+6.0%	Cons. · Japanese GAAP
FYE Mar 2024	507	+2.0%	Cons. · Japanese GAAP
FYE Mar 2025	514	+1.4%	Cons. · Japanese GAAP
FYE Mar 2026	511	−0.6%	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 ¥104bn

CAGR · 10 yrs −3.3%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	142	n/a	Cons. · Japanese GAAP
FYE Mar 2018	144	+1.5%	Cons. · Japanese GAAP
FYE Mar 2019	143	−1.0%	Cons. · Japanese GAAP
FYE Mar 2020	143	+0.5%	Cons. · Japanese GAAP
FYE Mar 2021	143	−0.4%	Cons. · Japanese GAAP
FYE Mar 2022	89.4	−37.3%	Cons. · Japanese GAAP
FYE Mar 2023	87.2	−2.5%	Cons. · Japanese GAAP
FYE Mar 2024	98.3	+12.7%	Cons. · Japanese GAAP
FYE Mar 2025	102	+3.3%	Cons. · Japanese GAAP
FYE Mar 2026	104	+2.8%	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 ¥86bn

CAGR · 10 yrs −3.9%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	123	n/a	Cons. · Japanese GAAP
FYE Mar 2018	125	+1.3%	Cons. · Japanese GAAP
FYE Mar 2019	125	+0.6%	Cons. · Japanese GAAP
FYE Mar 2020	125	−0.1%	Cons. · Japanese GAAP
FYE Mar 2021	123	−1.9%	Cons. · Japanese GAAP
FYE Mar 2022	71.4	−41.9%	Cons. · Japanese GAAP
FYE Mar 2023	74.1	+3.9%	Cons. · Japanese GAAP
FYE Mar 2024	79.8	+7.7%	Cons. · Japanese GAAP
FYE Mar 2025	82.4	+3.2%	Cons. · Japanese GAAP
FYE Mar 2026	86.1	+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 ¥18bn

CAGR · 10 yrs −0.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	18.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.4	+3.3%	Cons. · Japanese GAAP
FYE Mar 2019	17.2	−11.0%	Cons. · Japanese GAAP
FYE Mar 2020	18.0	+4.5%	Cons. · Japanese GAAP
FYE Mar 2021	19.8	+9.9%	Cons. · Japanese GAAP
FYE Mar 2022	18.1	−8.7%	Cons. · Japanese GAAP
FYE Mar 2023	13.1	−27.7%	Cons. · Japanese GAAP
FYE Mar 2024	18.5	+41.4%	Cons. · Japanese GAAP
FYE Mar 2025	19.1	+3.6%	Cons. · Japanese GAAP
FYE Mar 2026	18.3	−4.5%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥3.3bn

CAGR · 10 yrs +1.8%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.7	−3.7%	Cons. · Japanese GAAP
FYE Mar 2019	2.9	+6.1%	Cons. · Japanese GAAP
FYE Mar 2020	2.8	−2.4%	Cons. · Japanese GAAP
FYE Mar 2021	3.0	+7.2%	Cons. · Japanese GAAP
FYE Mar 2022	3.0	−1.2%	Cons. · Japanese GAAP
FYE Mar 2023	2.5	−17.4%	Cons. · Japanese GAAP
FYE Mar 2024	2.9	+19.3%	Cons. · Japanese GAAP
FYE Mar 2025	2.7	−8.4%	Cons. · Japanese GAAP
FYE Mar 2026	3.3	+22.9%	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 ¥1.1bn

CAGR · 10 yrs −2.1%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.1	−17.0%	Cons. · Japanese GAAP
FYE Mar 2019	1.1	+1.3%	Cons. · Japanese GAAP
FYE Mar 2020	1.1	+3.2%	Cons. · Japanese GAAP
FYE Mar 2021	1.1	+0.2%	Cons. · Japanese GAAP
FYE Mar 2022	1.1	−7.2%	Cons. · Japanese GAAP
FYE Mar 2023	1.0	−1.8%	Cons. · Japanese GAAP
FYE Mar 2024	1.5	+45.5%	Cons. · Japanese GAAP
FYE Mar 2025	1.6	+2.8%	Cons. · Japanese GAAP
FYE Mar 2026	1.1	−30.0%	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 ¥20bn

CAGR · 10 yrs +0.1%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.0	+3.6%	Cons. · Japanese GAAP
FYE Mar 2019	19.0	−9.4%	Cons. · Japanese GAAP
FYE Mar 2020	19.7	+3.5%	Cons. · Japanese GAAP
FYE Mar 2021	21.7	+10.1%	Cons. · Japanese GAAP
FYE Mar 2022	20.0	−7.7%	Cons. · Japanese GAAP
FYE Mar 2023	14.5	−27.6%	Cons. · Japanese GAAP
FYE Mar 2024	19.9	+37.3%	Cons. · Japanese GAAP
FYE Mar 2025	20.3	+1.9%	Cons. · Japanese GAAP
FYE Mar 2026	20.5	+1.1%	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 ¥31bn

CAGR · 10 yrs +62.8%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.2	−48.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.5	+171.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.1	−79.9%	Cons. · Japanese GAAP
FYE Mar 2021	3.2	+2845.8%	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−99.8%	Cons. · Japanese GAAP
FYE Mar 2023	3.3	+55266.7%	Cons. · Japanese GAAP
FYE Mar 2024	11.6	+248.4%	Cons. · Japanese GAAP
FYE Mar 2025	1.7	−85.1%	Cons. · Japanese GAAP
FYE Mar 2026	30.6	+1676.1%	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 ¥33bn

CAGR · 10 yrs +10.9%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	13.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.4	+3.1%	Cons. · Japanese GAAP
FYE Mar 2019	10.8	−19.7%	Cons. · Japanese GAAP
FYE Mar 2020	12.2	+13.1%	Cons. · Japanese GAAP
FYE Mar 2021	14.9	+22.6%	Cons. · Japanese GAAP
FYE Mar 2022	12.1	−19.1%	Cons. · Japanese GAAP
FYE Mar 2023	9.1	−24.4%	Cons. · Japanese GAAP
FYE Mar 2024	19.4	+112.8%	Cons. · Japanese GAAP
FYE Mar 2025	13.9	−28.4%	Cons. · Japanese GAAP
FYE Mar 2026	32.9	+136.6%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 16.9%

Average · 10 yrs 19.9%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	24.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	23.6	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	23.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	23.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	16.0	−7.2pp	Cons. · Japanese GAAP
FYE Mar 2023	14.9	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	16.2	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	16.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	16.9	+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 3.0%

Average · 10 yrs 3.0%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	2.9	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	2.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	3.2	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	3.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2023	2.2	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	3.0	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	3.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	3.0	−0.1pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Mar 2026 3.3%

Average · 10 yrs 3.3%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	3.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	3.2	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	3.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	3.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	3.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	2.5	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	3.3	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	3.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	3.3	−0.0pp	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 5.3%

Average · 10 yrs 2.5%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	1.8	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	2.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	2.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	2.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	1.6	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	3.2	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	2.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	5.3	+3.1pp	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 83.1%

Average · 10 yrs 80.1%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	75.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	75.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	76.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	76.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	76.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	84.0	+7.2pp	Cons. · Japanese GAAP
FYE Mar 2023	85.1	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	83.8	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	83.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	83.1	−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 14.0%

Average · 10 yrs 16.9%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	20.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	20.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	20.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	20.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	12.8	−7.2pp	Cons. · Japanese GAAP
FYE Mar 2023	12.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	13.2	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	13.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	14.0	+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 ¥427bn

CAGR · 10 yrs +2.5%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	342	n/a	Cons. · Japanese GAAP
FYE Mar 2018	351	+2.9%	Cons. · Japanese GAAP
FYE Mar 2019	359	+2.3%	Cons. · Japanese GAAP
FYE Mar 2020	370	+3.1%	Cons. · Japanese GAAP
FYE Mar 2021	399	+7.6%	Cons. · Japanese GAAP
FYE Mar 2022	402	+0.8%	Cons. · Japanese GAAP
FYE Mar 2023	410	+2.1%	Cons. · Japanese GAAP
FYE Mar 2024	431	+5.1%	Cons. · Japanese GAAP
FYE Mar 2025	431	−0.0%	Cons. · Japanese GAAP
FYE Mar 2026	427	−1.0%	Cons. · Japanese GAAP

Definition: Everything the company holds
Formula: Total assets line of the balance sheet
Source: Securities report (XBRL)

Equity net assets, shareholders' equity

FYE Mar 2026 ¥238bn

CAGR · 10 yrs +5.8%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	143	n/a	Cons. · Japanese GAAP
FYE Mar 2018	155	+8.3%	Cons. · Japanese GAAP
FYE Mar 2019	166	+7.3%	Cons. · Japanese GAAP
FYE Mar 2020	175	+5.3%	Cons. · Japanese GAAP
FYE Mar 2021	195	+11.5%	Cons. · Japanese GAAP
FYE Mar 2022	207	+5.9%	Cons. · Japanese GAAP
FYE Mar 2023	213	+3.0%	Cons. · Japanese GAAP
FYE Mar 2024	232	+9.0%	Cons. · Japanese GAAP
FYE Mar 2025	245	+5.4%	Cons. · Japanese GAAP
FYE Mar 2026	238	−2.9%	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 ¥26bn

CAGR · 10 yrs −10.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	68.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	46.9	−31.3%	Cons. · Japanese GAAP
FYE Mar 2019	52.6	+12.2%	Cons. · Japanese GAAP
FYE Mar 2020	51.6	−1.8%	Cons. · Japanese GAAP
FYE Mar 2021	48.5	−6.2%	Cons. · Japanese GAAP
FYE Mar 2022	56.4	+16.4%	Cons. · Japanese GAAP
FYE Mar 2023	42.4	−24.8%	Cons. · Japanese GAAP
FYE Mar 2024	36.1	−14.7%	Cons. · Japanese GAAP
FYE Mar 2025	27.0	−25.2%	Cons. · Japanese GAAP
FYE Mar 2026	26.1	−3.3%	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 ¥6.7bn

CAGR · 10 yrs −11.9%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	20.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.8	−5.4%	Cons. · Japanese GAAP
FYE Mar 2019	16.7	−15.4%	Cons. · Japanese GAAP
FYE Mar 2020	16.5	−1.3%	Cons. · Japanese GAAP
FYE Mar 2021	16.4	−0.6%	Cons. · Japanese GAAP
FYE Mar 2022	17.0	+3.7%	Cons. · Japanese GAAP
FYE Mar 2023	10.2	−40.0%	Cons. · Japanese GAAP
FYE Mar 2024	7.1	−30.6%	Cons. · Japanese GAAP
FYE Mar 2025	7.4	+4.3%	Cons. · Japanese GAAP
FYE Mar 2026	6.7	−9.4%	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 ¥19bn

CAGR · 10 yrs −9.4%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	47.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.1	−42.7%	Cons. · Japanese GAAP
FYE Mar 2019	35.8	+32.3%	Cons. · Japanese GAAP
FYE Mar 2020	35.1	−2.0%	Cons. · Japanese GAAP
FYE Mar 2021	32.0	−8.8%	Cons. · Japanese GAAP
FYE Mar 2022	39.4	+22.9%	Cons. · Japanese GAAP
FYE Mar 2023	32.2	−18.3%	Cons. · Japanese GAAP
FYE Mar 2024	29.1	−9.7%	Cons. · Japanese GAAP
FYE Mar 2025	19.7	−32.4%	Cons. · Japanese GAAP
FYE Mar 2026	19.4	−1.0%	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 ¥7.8bn

CAGR · 10 yrs +5.2%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	4.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.9	−20.5%	Cons. · Japanese GAAP
FYE Mar 2019	3.2	−18.2%	Cons. · Japanese GAAP
FYE Mar 2020	3.7	+16.3%	Cons. · Japanese GAAP
FYE Mar 2021	3.5	−5.8%	Cons. · Japanese GAAP
FYE Mar 2022	3.3	−6.3%	Cons. · Japanese GAAP
FYE Mar 2023	3.2	−3.1%	Cons. · Japanese GAAP
FYE Mar 2024	4.5	+41.1%	Cons. · Japanese GAAP
FYE Mar 2025	6.8	+51.3%	Cons. · Japanese GAAP
FYE Mar 2026	7.8	+14.4%	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 ¥222m

CAGR · 7 yrs −17.8%

Fiscal year	Goodwill ¥ m	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	719	n/a	Cons. · Japanese GAAP
FYE Mar 2021	645	−10.3%	Cons. · Japanese GAAP
FYE Mar 2022	582	−9.8%	Cons. · Japanese GAAP
FYE Mar 2023	516	−11.3%	Cons. · Japanese GAAP
FYE Mar 2024	441	−14.5%	Cons. · Japanese GAAP
FYE Mar 2025	328	−25.6%	Cons. · Japanese GAAP
FYE Mar 2026	222	−32.3%	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 55.7%

Average · 10 yrs 49.8%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	41.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	44.1	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2019	46.3	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2020	47.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2021	49.0	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	51.5	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2023	51.9	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2024	53.8	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2025	56.8	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2026	55.7	−1.1pp	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 11.0%

Average · 10 yrs 24.9%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	47.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.2	−17.4pp	Cons. · Japanese GAAP
FYE Mar 2019	31.6	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	29.5	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2021	24.8	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2022	27.3	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	19.9	−7.4pp	Cons. · Japanese GAAP
FYE Mar 2024	15.6	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2025	11.0	−4.5pp	Cons. · Japanese GAAP
FYE Mar 2026	11.0	−0.1pp	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 13.8%

Average · 10 yrs 7.7%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	9.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	6.5	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2020	6.9	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	7.6	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	5.8	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2023	4.3	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	8.4	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2025	5.7	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2026	13.8	+8.2pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 7.7%

Average · 10 yrs 3.8%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	3.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	3.0	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	3.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	3.7	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	3.0	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	2.2	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	4.5	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2025	3.2	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	7.7	+4.5pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 1.44×

CAGR · 10 yrs −1.9%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.72	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.70	−1.4%	Cons. · Japanese GAAP
FYE Mar 2019	1.68	−1.1%	Cons. · Japanese GAAP
FYE Mar 2020	1.66	−1.4%	Cons. · Japanese GAAP
FYE Mar 2021	1.54	−6.8%	Cons. · Japanese GAAP
FYE Mar 2022	1.39	−10.0%	Cons. · Japanese GAAP
FYE Mar 2023	1.42	+2.5%	Cons. · Japanese GAAP
FYE Mar 2024	1.40	−1.5%	Cons. · Japanese GAAP
FYE Mar 2025	1.43	+1.8%	Cons. · Japanese GAAP
FYE Mar 2026	1.44	+1.0%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥23bn

CAGR · 10 yrs −2.9%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	29.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.8	−23.8%	Cons. · Japanese GAAP
FYE Mar 2019	21.9	−3.9%	Cons. · Japanese GAAP
FYE Mar 2020	24.3	+10.9%	Cons. · Japanese GAAP
FYE Mar 2021	26.6	+9.2%	Cons. · Japanese GAAP
FYE Mar 2022	29.4	+10.7%	Cons. · Japanese GAAP
FYE Mar 2023	26.8	−8.9%	Cons. · Japanese GAAP
FYE Mar 2024	30.5	+13.6%	Cons. · Japanese GAAP
FYE Mar 2025	21.1	−30.7%	Cons. · Japanese GAAP
FYE Mar 2026	22.9	+8.5%	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 ¥7.1bn

Average · 10 yrs -¥14bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-14.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-11.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-14.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-16.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-27.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-20.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-19.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-18.5	n/a	Cons. · Japanese GAAP
FYE Mar 2026	7.1	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 -¥37bn

Average · 10 yrs -¥12bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-14.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-12.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-11.3	−266.3%	Cons. · Japanese GAAP
FYE Mar 2023	-7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-15.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-10.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-37.3	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 ¥14bn

CAGR · 10 yrs −1.4%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	15.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.1	−11.7%	Cons. · Japanese GAAP
FYE Mar 2019	14.3	+1.6%	Cons. · Japanese GAAP
FYE Mar 2020	15.5	+8.5%	Cons. · Japanese GAAP
FYE Mar 2021	21.8	+40.6%	Cons. · Japanese GAAP
FYE Mar 2022	20.0	−8.5%	Cons. · Japanese GAAP
FYE Mar 2023	20.3	+1.8%	Cons. · Japanese GAAP
FYE Mar 2024	29.0	+42.5%	Cons. · Japanese GAAP
FYE Mar 2025	21.3	−26.5%	Cons. · Japanese GAAP
FYE Mar 2026	14.0	−34.3%	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 ¥30bn

CAGR · 10 yrs +7.6%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	15.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.0	−29.0%	Cons. · Japanese GAAP
FYE Mar 2019	7.7	−30.2%	Cons. · Japanese GAAP
FYE Mar 2020	7.7	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	-0.5	−106.6%	Cons. · Japanese GAAP
FYE Mar 2022	9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	7.2	−22.1%	Cons. · Japanese GAAP
FYE Mar 2024	24.2	+236.3%	Cons. · Japanese GAAP
FYE Mar 2025	2.6	−89.3%	Cons. · Japanese GAAP
FYE Mar 2026	30.0	+1057.8%	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 3.7%

Average · 10 yrs 4.3%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	5.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.8	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	3.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	4.0	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	4.3	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	5.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	4.6	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	5.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	3.4	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	3.7	+0.3pp	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 -¥12bn

Average · 10 yrs -¥27bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-52.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-32.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-38.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-36.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-26.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-36.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-22.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-12.1	n/a	Cons. · Japanese GAAP

Definition: Cash on hand once the borrowings are paid off
Formula: Cash and equivalents − interest-bearing debt
Source: Securities report (XBRL)

Shares and share price Shares outstanding, price, market capitalisation and the valuation multiples

Market capitalisation

FYE Mar 2026 ¥208bn

Change · 10 yrs −¥9.0bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	217	n/a
FYE Mar 2018	204	n/a
FYE Mar 2019	191	n/a
FYE Mar 2020	174	n/a
FYE Mar 2021	159	n/a
FYE Mar 2022	140	n/a
FYE Mar 2023	124	n/a
FYE Mar 2024	193	n/a
FYE Mar 2025	182	n/a
FYE Mar 2026	208	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 3,254¥

Change · 10 yrs +190¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	3,064	n/a
FYE Mar 2018	2,881	n/a
FYE Mar 2019	2,697	n/a
FYE Mar 2020	2,462	n/a
FYE Mar 2021	2,251	n/a
FYE Mar 2022	1,984	n/a
FYE Mar 2023	1,757	n/a
FYE Mar 2024	2,733	n/a
FYE Mar 2025	2,574	n/a
FYE Mar 2026	3,254	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 63,835,455shares

Change · 10 yrs −6,916,400 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	70,751,855	Parent
FYE Mar 2018	70,751,855	Parent
FYE Mar 2019	70,751,855	Parent
FYE Mar 2020	70,751,855	Parent
FYE Mar 2021	70,751,855	Parent
FYE Mar 2022	70,751,855	Parent
FYE Mar 2023	70,751,855	Parent
FYE Mar 2024	70,751,855	Parent
FYE Mar 2025	70,751,855	Parent
FYE Mar 2026	63,835,455	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 524.82¥

Change · 10 yrs +333.34¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	191.48	Cons.
FYE Mar 2018	197.36	Cons.
FYE Mar 2019	158.64	Cons.
FYE Mar 2020	179.71	Cons.
FYE Mar 2021	220.64	Cons.
FYE Mar 2022	178.70	Cons.
FYE Mar 2023	135.18	Cons.
FYE Mar 2024	287.67	Cons.
FYE Mar 2025	205.93	Cons.
FYE Mar 2026	524.82	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 3,723.10¥

Change · 10 yrs +1,699.43¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	2,023.68	Cons. · Japanese GAAP
FYE Mar 2018	2,191.05	Cons. · Japanese GAAP
FYE Mar 2019	2,350.40	Cons. · Japanese GAAP
FYE Mar 2020	2,475.02	Cons. · Japanese GAAP
FYE Mar 2021	2,759.12	Cons. · Japanese GAAP
FYE Mar 2022	2,922.58	Cons. · Japanese GAAP
FYE Mar 2023	3,008.81	Cons. · Japanese GAAP
FYE Mar 2024	3,280.28	Cons. · Japanese GAAP
FYE Mar 2025	3,458.30	Cons. · Japanese GAAP
FYE Mar 2026	3,723.10	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 6.20×

Average · 10 yrs 12.38×

Fiscal year	PER ×	Basis
FYE Mar 2017	16.00	Cons.
FYE Mar 2018	14.60	Cons.
FYE Mar 2019	17.00	Cons.
FYE Mar 2020	13.70	Cons.
FYE Mar 2021	10.20	Cons.
FYE Mar 2022	11.10	Cons.
FYE Mar 2023	13.00	Cons.
FYE Mar 2024	9.50	Cons.
FYE Mar 2025	12.50	Cons.
FYE Mar 2026	6.20	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 0.83×

Average · 10 yrs 0.91×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.45	Cons.
FYE Mar 2018	1.26	Cons.
FYE Mar 2019	1.10	Cons.
FYE Mar 2020	0.95	Cons.
FYE Mar 2021	0.78	Cons.
FYE Mar 2022	0.65	Cons.
FYE Mar 2023	0.56	Cons.
FYE Mar 2024	0.80	Cons.
FYE Mar 2025	0.71	Cons.
FYE Mar 2026	0.83	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 5,844people

Change · 10 yrs +957 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	4,887	n/a	Cons.
FYE Mar 2018	5,009	+2.5%	Cons.
FYE Mar 2019	5,105	+1.9%	Cons.
FYE Mar 2020	5,367	+5.1%	Cons.
FYE Mar 2021	5,669	+5.6%	Cons.
FYE Mar 2022	5,665	−0.1%	Cons.
FYE Mar 2023	5,715	+0.9%	Cons.
FYE Mar 2024	5,731	+0.3%	Cons.
FYE Mar 2025	5,751	+0.3%	Cons.
FYE Mar 2026	5,844	+1.6%	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 3,172people

Change · 10 yrs +139 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	3,033	n/a	Parent
FYE Mar 2018	3,132	+3.3%	Parent
FYE Mar 2019	3,142	+0.3%	Parent
FYE Mar 2020	3,144	+0.1%	Parent
FYE Mar 2021	3,161	+0.5%	Parent
FYE Mar 2022	3,134	−0.9%	Parent
FYE Mar 2023	3,118	−0.5%	Parent
FYE Mar 2024	3,129	+0.4%	Parent
FYE Mar 2025	3,127	−0.1%	Parent
FYE Mar 2026	3,172	+1.4%	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 773万円

Change · 8 yrs +64万円

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	709	n/a	Parent
FYE Mar 2020	713	+0.5%	Parent
FYE Mar 2021	721	+1.1%	Parent
FYE Mar 2022	727	+0.8%	Parent
FYE Mar 2023	724	−0.4%	Parent
FYE Mar 2024	736	+1.7%	Parent
FYE Mar 2025	766	+4.1%	Parent
FYE Mar 2026	773	+1.0%	Parent

Definition: Average total annual compensation, bonuses included
Formula: Average annual pay, from the employee section of the filing
Source: Securities report (XBRL)

Average age

FYE Mar 2026 41.6years

Change · 8 yrs +1.6 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	40.0	n/a	Parent
FYE Mar 2020	40.0	−0.0%	Parent
FYE Mar 2021	40.4	+1.0%	Parent
FYE Mar 2022	40.8	+1.0%	Parent
FYE Mar 2023	41.2	+1.0%	Parent
FYE Mar 2024	41.7	+1.2%	Parent
FYE Mar 2025	41.8	+0.2%	Parent
FYE Mar 2026	41.6	−0.5%	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 16.0years

Change · 8 yrs +1.2 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	14.8	n/a	Parent
FYE Mar 2020	14.5	−2.0%	Parent
FYE Mar 2021	14.3	−1.4%	Parent
FYE Mar 2022	14.8	+3.5%	Parent
FYE Mar 2023	15.4	+4.1%	Parent
FYE Mar 2024	15.8	+2.6%	Parent
FYE Mar 2025	16.1	+1.9%	Parent
FYE Mar 2026	16.0	−0.6%	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 3,149people

Change · 10 yrs −494 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	3,643	n/a	n/a
FYE Mar 2018	3,767	+3.4%	n/a
FYE Mar 2019	3,790	+0.6%	n/a
FYE Mar 2020	3,746	−1.2%	n/a
FYE Mar 2021	3,438	−8.2%	n/a
FYE Mar 2022	3,383	−1.6%	n/a
FYE Mar 2023	3,328	−1.6%	n/a
FYE Mar 2024	3,185	−4.3%	n/a
FYE Mar 2025	3,096	−2.8%	n/a
FYE Mar 2026	3,149	+1.7%	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 ¥105m

Change · 10 yrs −¥14.9m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	120	n/a	Cons.
FYE Mar 2018	119	−1.1%	Cons.
FYE Mar 2019	118	−0.7%	Cons.
FYE Mar 2020	114	−3.3%	Cons.
FYE Mar 2021	109	−5.1%	Cons.
FYE Mar 2022	98.6	−9.2%	Cons.
FYE Mar 2023	102	+3.7%	Cons.
FYE Mar 2024	106	+3.3%	Cons.
FYE Mar 2025	107	+1.4%	Cons.
FYE Mar 2026	105	−1.6%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥3.1m

Change · 10 yrs −¥0.7m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.8	n/a	Cons.
FYE Mar 2018	3.9	+0.7%	Cons.
FYE Mar 2019	3.4	−12.7%	Cons.
FYE Mar 2020	3.4	−0.6%	Cons.
FYE Mar 2021	3.5	+4.0%	Cons.
FYE Mar 2022	3.2	−8.6%	Cons.
FYE Mar 2023	2.3	−28.3%	Cons.
FYE Mar 2024	3.2	+41.0%	Cons.
FYE Mar 2025	3.3	+3.2%	Cons.
FYE Mar 2026	3.1	−6.0%	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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