Financials

SBS Holdings: FYE Dec 2025 and ten years of results (50 metrics)

FYE Dec 2025 · Revenue¥490bnYoY +9.4%

FYE Dec 2025 · Operating profit¥21bnYoY +20.3%

FYE Dec 2025 · Net profit¥12bnYoY +22.5%

FYE Dec 2025 · Equity ratio27.9%YoY +0.1pp

FYE Dec 2025 · Group employees11,772YoY +1,013

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Dec 2016Consolidated	¥149bn	n/a	¥7.5bn	n/a	5.0%	¥5.1bn	Kamata Masahiko	—
FYE Dec 2017Consolidated	¥153bn	+2.6%	¥6.2bn	−17.1%	4.1%	¥4.4bn	Kamata Masahiko	—
FYE Dec 2018Consolidated	¥204bn	+33.1%	¥8.2bn	+32.3%	4.0%	¥4.4bn	Kamata Masahiko	Acquires Ricoh Logistics for an estimated <span class="en-history_money" data-yen="23000000000" data-year="2018">$208.3M (¥23bn)</span>
FYE Dec 2019Consolidated	¥256bn	+25.6%	¥10bn	+23.5%	4.0%	¥6.1bn	Kamata Masahiko	—
FYE Dec 2020Consolidated	¥257bn	+0.6%	¥11bn	+7.7%	4.3%	¥6.8bn	Kamata Masahiko	Acquires Toshiba Logistics for about <span class="en-history_money" data-yen="12000000000" data-year="2020">$112.4M (¥12bn)</span>
FYE Dec 2021Consolidated	¥403bn	+56.9%	¥21bn	+88.9%	5.1%	¥11bn	Kamata Masahiko	Acquires Furukawa Logistics; revenue passes ¥400 billion
FYE Dec 2022Consolidated	¥455bn	+12.9%	¥22bn	+5.5%	4.8%	¥12bn	Kamata Masahiko	Moves to the TSE Prime market; record profit
FYE Dec 2023Consolidated	¥432bn	−5.2%	¥20bn	−9.7%	4.6%	¥10bn	Kamata Masahiko	—
FYE Dec 2024Consolidated	¥448bn	+3.8%	¥18bn	−10.2%	4.0%	¥9.6bn	Kamata Masahiko	Acquires NSK Logistics
FYE Dec 2025Consolidated	¥490bn	+9.4%	¥21bn	+20.3%	4.3%	¥12bn	Kamata Masahiko	Acquires Blackbird Logistics (Netherlands) and Bridgestone Logistics

How it compares

Nippon Express Holdings¥2.62tnFY2021Operating margin 5.9%Senko Group Holdings¥900bnFY2025Operating margin 4.1%

Seino Holdings¥813bnFY2025Operating margin 4.6%

Sankyu¥632bnFY2025Operating margin 6.8%

SBS Holdings¥490bnFY2025Operating margin 4.3%

Kounoikeunyu¥345bnFY2024Operating margin 6.2%

Fukuyamatsuuun¥319bnFY2025Operating margin 2.9%

NIKKON Holdings¥270bnFY2025Operating margin 8.8%

AZ-COM Maruwa Holdings¥231bnFY2025Operating margin 5.1%

Kiyusoryuutsuushisutemu¥203bnFY2025Operating margin 2.8%

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 Dec 2025 ¥490bn

CAGR · 10 yrs +14.1%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Dec 2016	149	n/a	Cons. · Japanese GAAP
FYE Dec 2017	153	+2.6%	Cons. · Japanese GAAP
FYE Dec 2018	204	+33.1%	Cons. · Japanese GAAP
FYE Dec 2019	256	+25.6%	Cons. · Japanese GAAP
FYE Dec 2020	257	+0.6%	Cons. · Japanese GAAP
FYE Dec 2021	403	+56.9%	Cons. · Japanese GAAP
FYE Dec 2022	455	+12.9%	Cons. · Japanese GAAP
FYE Dec 2023	432	−5.2%	Cons. · Japanese GAAP
FYE Dec 2024	448	+3.8%	Cons. · Japanese GAAP
FYE Dec 2025	490	+9.4%	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 Dec 2025 ¥435bn

CAGR · 10 yrs +14.1%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Dec 2016	132	n/a	Cons. · Japanese GAAP
FYE Dec 2017	137	+3.6%	Cons. · Japanese GAAP
FYE Dec 2018	182	+33.1%	Cons. · Japanese GAAP
FYE Dec 2019	230	+26.0%	Cons. · Japanese GAAP
FYE Dec 2020	230	+0.4%	Cons. · Japanese GAAP
FYE Dec 2021	357	+54.9%	Cons. · Japanese GAAP
FYE Dec 2022	405	+13.5%	Cons. · Japanese GAAP
FYE Dec 2023	382	−5.7%	Cons. · Japanese GAAP
FYE Dec 2024	398	+4.3%	Cons. · Japanese GAAP
FYE Dec 2025	435	+9.1%	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 Dec 2025 ¥56bn

CAGR · 10 yrs +14.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Dec 2016	17.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	16.0	−5.7%	Cons. · Japanese GAAP
FYE Dec 2018	21.4	+33.3%	Cons. · Japanese GAAP
FYE Dec 2019	26.0	+21.9%	Cons. · Japanese GAAP
FYE Dec 2020	26.8	+3.0%	Cons. · Japanese GAAP
FYE Dec 2021	46.7	+74.3%	Cons. · Japanese GAAP
FYE Dec 2022	50.5	+8.2%	Cons. · Japanese GAAP
FYE Dec 2023	50.1	−0.8%	Cons. · Japanese GAAP
FYE Dec 2024	49.8	−0.6%	Cons. · Japanese GAAP
FYE Dec 2025	55.7	+11.8%	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 Dec 2025 ¥34bn

CAGR · 10 yrs +15.4%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Dec 2016	9.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	9.8	+3.4%	Cons. · Japanese GAAP
FYE Dec 2018	13.1	+34.0%	Cons. · Japanese GAAP
FYE Dec 2019	15.9	+20.9%	Cons. · Japanese GAAP
FYE Dec 2020	15.8	−0.1%	Cons. · Japanese GAAP
FYE Dec 2021	26.0	+64.2%	Cons. · Japanese GAAP
FYE Dec 2022	28.7	+10.3%	Cons. · Japanese GAAP
FYE Dec 2023	30.4	+6.0%	Cons. · Japanese GAAP
FYE Dec 2024	32.1	+5.6%	Cons. · Japanese GAAP
FYE Dec 2025	34.4	+7.2%	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 Dec 2025 ¥21bn

CAGR · 10 yrs +12.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Dec 2016	7.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	6.2	−17.1%	Cons. · Japanese GAAP
FYE Dec 2018	8.2	+32.3%	Cons. · Japanese GAAP
FYE Dec 2019	10.2	+23.5%	Cons. · Japanese GAAP
FYE Dec 2020	11.0	+7.7%	Cons. · Japanese GAAP
FYE Dec 2021	20.7	+88.9%	Cons. · Japanese GAAP
FYE Dec 2022	21.8	+5.5%	Cons. · Japanese GAAP
FYE Dec 2023	19.7	−9.7%	Cons. · Japanese GAAP
FYE Dec 2024	17.7	−10.2%	Cons. · Japanese GAAP
FYE Dec 2025	21.3	+20.3%	Cons. · Japanese GAAP

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

Non-operating income

FYE Dec 2025 ¥2.1bn

CAGR · 10 yrs +10.4%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Dec 2016	0.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.9	−2.2%	Cons. · Japanese GAAP
FYE Dec 2018	0.5	−41.6%	Cons. · Japanese GAAP
FYE Dec 2019	1.0	+98.2%	Cons. · Japanese GAAP
FYE Dec 2020	0.8	−21.8%	Cons. · Japanese GAAP
FYE Dec 2021	1.3	+69.6%	Cons. · Japanese GAAP
FYE Dec 2022	1.4	+3.0%	Cons. · Japanese GAAP
FYE Dec 2023	1.5	+12.7%	Cons. · Japanese GAAP
FYE Dec 2024	2.1	+39.3%	Cons. · Japanese GAAP
FYE Dec 2025	2.1	−0.1%	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 Dec 2025 ¥2.3bn

CAGR · 10 yrs +16.9%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Dec 2016	0.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.6	+9.6%	Cons. · Japanese GAAP
FYE Dec 2018	1.1	+84.1%	Cons. · Japanese GAAP
FYE Dec 2019	1.0	−11.7%	Cons. · Japanese GAAP
FYE Dec 2020	0.9	−14.4%	Cons. · Japanese GAAP
FYE Dec 2021	1.5	+79.5%	Cons. · Japanese GAAP
FYE Dec 2022	1.8	+17.1%	Cons. · Japanese GAAP
FYE Dec 2023	1.5	−16.3%	Cons. · Japanese GAAP
FYE Dec 2024	1.4	−8.2%	Cons. · Japanese GAAP
FYE Dec 2025	2.3	+65.4%	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 Dec 2025 ¥21bn

CAGR · 10 yrs +11.7%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Dec 2016	7.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	6.5	−17.3%	Cons. · Japanese GAAP
FYE Dec 2018	7.6	+17.5%	Cons. · Japanese GAAP
FYE Dec 2019	10.2	+33.7%	Cons. · Japanese GAAP
FYE Dec 2020	10.9	+7.0%	Cons. · Japanese GAAP
FYE Dec 2021	20.5	+88.3%	Cons. · Japanese GAAP
FYE Dec 2022	21.4	+4.5%	Cons. · Japanese GAAP
FYE Dec 2023	19.7	−7.7%	Cons. · Japanese GAAP
FYE Dec 2024	18.5	−6.5%	Cons. · Japanese GAAP
FYE Dec 2025	21.1	+14.5%	Cons. · Japanese GAAP

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

Extraordinary income

FYE Dec 2025 ¥1.8bn

CAGR · 10 yrs +36.4%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Dec 2016	0.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.0	+768.2%	Cons. · Japanese GAAP
FYE Dec 2018	0.1	−86.0%	Cons. · Japanese GAAP
FYE Dec 2019	0.1	+2.2%	Cons. · Japanese GAAP
FYE Dec 2020	0.5	+264.2%	Cons. · Japanese GAAP
FYE Dec 2021	0.2	−68.1%	Cons. · Japanese GAAP
FYE Dec 2022	6.9	+4264.8%	Cons. · Japanese GAAP
FYE Dec 2023	0.4	−94.4%	Cons. · Japanese GAAP
FYE Dec 2024	0.2	−57.0%	Cons. · Japanese GAAP
FYE Dec 2025	1.8	+985.5%	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 Dec 2025 ¥12bn

CAGR · 10 yrs +9.7%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Dec 2016	5.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.4	−13.0%	Cons. · Japanese GAAP
FYE Dec 2018	4.4	−0.8%	Cons. · Japanese GAAP
FYE Dec 2019	6.1	+37.9%	Cons. · Japanese GAAP
FYE Dec 2020	6.8	+12.3%	Cons. · Japanese GAAP
FYE Dec 2021	10.8	+58.1%	Cons. · Japanese GAAP
FYE Dec 2022	11.7	+8.7%	Cons. · Japanese GAAP
FYE Dec 2023	10.1	−14.3%	Cons. · Japanese GAAP
FYE Dec 2024	9.6	−4.3%	Cons. · Japanese GAAP
FYE Dec 2025	11.8	+22.5%	Cons. · Japanese GAAP

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

Gross margin

FYE Dec 2025 11.4%

Average · 10 yrs 11.0%

Fiscal year	Gross margin %	YoY	Basis
FYE Dec 2016	11.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	10.5	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2018	10.5	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2019	10.2	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2020	10.4	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2021	11.6	+1.2pp	Cons. · Japanese GAAP
FYE Dec 2022	11.1	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2023	11.6	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2024	11.1	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2025	11.4	+0.2pp	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 Dec 2025 4.3%

Average · 10 yrs 4.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Dec 2016	5.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.1	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2018	4.0	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2019	4.0	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2020	4.3	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2021	5.1	+0.9pp	Cons. · Japanese GAAP
FYE Dec 2022	4.8	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2023	4.6	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2024	4.0	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2025	4.3	+0.4pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Dec 2025 4.3%

Average · 10 yrs 4.4%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Dec 2016	5.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.2	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2018	3.7	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2019	4.0	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2020	4.2	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2021	5.1	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2022	4.7	−0.4pp	Cons. · Japanese GAAP
FYE Dec 2023	4.6	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2024	4.1	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2025	4.3	+0.2pp	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 Dec 2025 2.4%

Average · 10 yrs 2.6%

Fiscal year	Net margin %	YoY	Basis
FYE Dec 2016	3.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	2.9	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2018	2.2	−0.7pp	Cons. · Japanese GAAP
FYE Dec 2019	2.4	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2020	2.7	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2021	2.7	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2022	2.6	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2023	2.3	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2024	2.1	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2025	2.4	+0.3pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Dec 2025 88.6%

Average · 10 yrs 89.0%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Dec 2016	88.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	89.5	+0.9pp	Cons. · Japanese GAAP
FYE Dec 2018	89.5	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2019	89.8	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2020	89.6	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2021	88.4	−1.2pp	Cons. · Japanese GAAP
FYE Dec 2022	88.9	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2023	88.4	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2024	88.9	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2025	88.6	−0.2pp	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 Dec 2025 7.0%

Average · 10 yrs 6.6%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Dec 2016	6.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	6.4	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2018	6.4	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2019	6.2	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2020	6.2	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2021	6.4	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2022	6.3	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2023	7.0	+0.7pp	Cons. · Japanese GAAP
FYE Dec 2024	7.2	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2025	7.0	−0.1pp	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 Dec 2025 ¥347bn

CAGR · 10 yrs +12.3%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Dec 2016	122	n/a	Cons. · Japanese GAAP
FYE Dec 2017	128	+4.5%	Cons. · Japanese GAAP
FYE Dec 2018	172	+34.4%	Cons. · Japanese GAAP
FYE Dec 2019	180	+4.8%	Cons. · Japanese GAAP
FYE Dec 2020	255	+41.4%	Cons. · Japanese GAAP
FYE Dec 2021	277	+8.9%	Cons. · Japanese GAAP
FYE Dec 2022	297	+7.1%	Cons. · Japanese GAAP
FYE Dec 2023	301	+1.5%	Cons. · Japanese GAAP
FYE Dec 2024	317	+5.3%	Cons. · Japanese GAAP
FYE Dec 2025	347	+9.3%	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 Dec 2025 ¥97bn

CAGR · 10 yrs +12.9%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Dec 2016	32.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	36.4	+12.0%	Cons. · Japanese GAAP
FYE Dec 2018	39.8	+9.2%	Cons. · Japanese GAAP
FYE Dec 2019	45.1	+13.5%	Cons. · Japanese GAAP
FYE Dec 2020	50.8	+12.5%	Cons. · Japanese GAAP
FYE Dec 2021	60.7	+19.5%	Cons. · Japanese GAAP
FYE Dec 2022	70.4	+16.0%	Cons. · Japanese GAAP
FYE Dec 2023	79.6	+13.1%	Cons. · Japanese GAAP
FYE Dec 2024	88.2	+10.9%	Cons. · Japanese GAAP
FYE Dec 2025	96.7	+9.6%	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 Dec 2025 ¥70bn

CAGR · 10 yrs +4.5%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Dec 2016	47.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	47.4	+0.9%	Cons. · Japanese GAAP
FYE Dec 2018	62.9	+32.7%	Cons. · Japanese GAAP
FYE Dec 2019	62.7	−0.3%	Cons. · Japanese GAAP
FYE Dec 2020	87.8	+40.1%	Cons. · Japanese GAAP
FYE Dec 2021	80.2	−8.7%	Cons. · Japanese GAAP
FYE Dec 2022	84.5	+5.4%	Cons. · Japanese GAAP
FYE Dec 2023	84.7	+0.2%	Cons. · Japanese GAAP
FYE Dec 2024	76.5	−9.7%	Cons. · Japanese GAAP
FYE Dec 2025	69.7	−8.9%	Cons. · Japanese GAAP

Definition: Borrowings the company pays interest on
Formula: Loans + bonds + lease obligations
Source: Securities report (XBRL)

Short-term borrowings

FYE Dec 2025 ¥21bn

CAGR · 10 yrs +4.0%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	14.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	14.5	−0.0%	Cons. · Japanese GAAP
FYE Dec 2018	15.5	+6.9%	Cons. · Japanese GAAP
FYE Dec 2019	17.5	+12.9%	Cons. · Japanese GAAP
FYE Dec 2020	42.8	+144.5%	Cons. · Japanese GAAP
FYE Dec 2021	22.9	−46.6%	Cons. · Japanese GAAP
FYE Dec 2022	28.4	+24.2%	Cons. · Japanese GAAP
FYE Dec 2023	23.3	−17.8%	Cons. · Japanese GAAP
FYE Dec 2024	21.1	−9.6%	Cons. · Japanese GAAP
FYE Dec 2025	20.6	−2.2%	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 Dec 2025 ¥49bn

CAGR · 10 yrs +4.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	32.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	32.9	+1.3%	Cons. · Japanese GAAP
FYE Dec 2018	47.4	+44.2%	Cons. · Japanese GAAP
FYE Dec 2019	45.2	−4.6%	Cons. · Japanese GAAP
FYE Dec 2020	45.0	−0.3%	Cons. · Japanese GAAP
FYE Dec 2021	57.3	+27.2%	Cons. · Japanese GAAP
FYE Dec 2022	56.1	−2.1%	Cons. · Japanese GAAP
FYE Dec 2023	61.3	+9.4%	Cons. · Japanese GAAP
FYE Dec 2024	55.4	−9.7%	Cons. · Japanese GAAP
FYE Dec 2025	49.0	−11.4%	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 Dec 2025 ¥50bn

CAGR · 10 yrs +53.6%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Dec 2016	1.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.1	+2.1%	Cons. · Japanese GAAP
FYE Dec 2018	10.8	+916.7%	Cons. · Japanese GAAP
FYE Dec 2019	10.4	−3.5%	Cons. · Japanese GAAP
FYE Dec 2020	33.5	+221.0%	Cons. · Japanese GAAP
FYE Dec 2021	35.7	+6.4%	Cons. · Japanese GAAP
FYE Dec 2022	34.4	−3.6%	Cons. · Japanese GAAP
FYE Dec 2023	33.0	−4.0%	Cons. · Japanese GAAP
FYE Dec 2024	33.5	+1.5%	Cons. · Japanese GAAP
FYE Dec 2025	49.6	+48.2%	Cons. · Japanese GAAP

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

Goodwill

FYE Dec 2025 ¥12bn

CAGR · 8 yrs +11.0%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Dec 2016	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2018	5.7	n/a	Cons. · Japanese GAAP
FYE Dec 2019	5.4	−5.7%	Cons. · Japanese GAAP
FYE Dec 2020	8.9	+64.4%	Cons. · Japanese GAAP
FYE Dec 2021	9.9	+11.1%	Cons. · Japanese GAAP
FYE Dec 2022	8.4	−15.1%	Cons. · Japanese GAAP
FYE Dec 2023	7.7	−8.7%	Cons. · Japanese GAAP
FYE Dec 2024	7.3	−4.8%	Cons. · Japanese GAAP
FYE Dec 2025	11.9	+63.5%	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 Dec 2025 27.9%

Average · 10 yrs 25.1%

Fiscal year	Equity ratio %	YoY	Basis
FYE Dec 2016	26.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	28.5	+1.9pp	Cons. · Japanese GAAP
FYE Dec 2018	23.1	−5.3pp	Cons. · Japanese GAAP
FYE Dec 2019	25.1	+1.9pp	Cons. · Japanese GAAP
FYE Dec 2020	19.9	−5.1pp	Cons. · Japanese GAAP
FYE Dec 2021	21.9	+1.9pp	Cons. · Japanese GAAP
FYE Dec 2022	23.7	+1.8pp	Cons. · Japanese GAAP
FYE Dec 2023	26.4	+2.7pp	Cons. · Japanese GAAP
FYE Dec 2024	27.8	+1.4pp	Cons. · Japanese GAAP
FYE Dec 2025	27.9	+0.1pp	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 Dec 2025 72.0%

Average · 10 yrs 126.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Dec 2016	144.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	130.1	−14.3pp	Cons. · Japanese GAAP
FYE Dec 2018	158.1	+28.0pp	Cons. · Japanese GAAP
FYE Dec 2019	138.9	−19.2pp	Cons. · Japanese GAAP
FYE Dec 2020	173.1	+34.2pp	Cons. · Japanese GAAP
FYE Dec 2021	132.1	−40.9pp	Cons. · Japanese GAAP
FYE Dec 2022	120.0	−12.1pp	Cons. · Japanese GAAP
FYE Dec 2023	106.4	−13.6pp	Cons. · Japanese GAAP
FYE Dec 2024	86.7	−19.7pp	Cons. · Japanese GAAP
FYE Dec 2025	72.0	−14.7pp	Cons. · Japanese GAAP

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

ROE return on equity

FYE Dec 2025 12.2%

Average · 10 yrs 13.6%

Fiscal year	ROE %	YoY	Basis
FYE Dec 2016	15.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	12.2	−3.5pp	Cons. · Japanese GAAP
FYE Dec 2018	11.1	−1.1pp	Cons. · Japanese GAAP
FYE Dec 2019	13.5	+2.4pp	Cons. · Japanese GAAP
FYE Dec 2020	13.4	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2021	17.8	+4.3pp	Cons. · Japanese GAAP
FYE Dec 2022	16.7	−1.1pp	Cons. · Japanese GAAP
FYE Dec 2023	12.6	−4.0pp	Cons. · Japanese GAAP
FYE Dec 2024	10.9	−1.7pp	Cons. · Japanese GAAP
FYE Dec 2025	12.2	+1.3pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Dec 2025 3.4%

Average · 10 yrs 3.4%

Fiscal year	ROA %	YoY	Basis
FYE Dec 2016	4.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	3.5	−0.7pp	Cons. · Japanese GAAP
FYE Dec 2018	2.6	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2019	3.4	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2020	2.7	−0.7pp	Cons. · Japanese GAAP
FYE Dec 2021	3.9	+1.2pp	Cons. · Japanese GAAP
FYE Dec 2022	4.0	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2023	3.3	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2024	3.0	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2025	3.4	+0.4pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Dec 2025 1.41×

CAGR · 10 yrs +1.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Dec 2016	1.22	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.20	−1.8%	Cons. · Japanese GAAP
FYE Dec 2018	1.18	−1.0%	Cons. · Japanese GAAP
FYE Dec 2019	1.42	+19.8%	Cons. · Japanese GAAP
FYE Dec 2020	1.01	−28.8%	Cons. · Japanese GAAP
FYE Dec 2021	1.46	+44.1%	Cons. · Japanese GAAP
FYE Dec 2022	1.53	+5.4%	Cons. · Japanese GAAP
FYE Dec 2023	1.43	−6.6%	Cons. · Japanese GAAP
FYE Dec 2024	1.41	−1.5%	Cons. · Japanese GAAP
FYE Dec 2025	1.41	+0.1%	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 Dec 2025 ¥35bn

CAGR · 10 yrs +12.6%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Dec 2016	12.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	11.7	−4.3%	Cons. · Japanese GAAP
FYE Dec 2018	12.4	+6.2%	Cons. · Japanese GAAP
FYE Dec 2019	16.9	+36.1%	Cons. · Japanese GAAP
FYE Dec 2020	17.3	+2.3%	Cons. · Japanese GAAP
FYE Dec 2021	27.5	+59.1%	Cons. · Japanese GAAP
FYE Dec 2022	22.4	−18.4%	Cons. · Japanese GAAP
FYE Dec 2023	14.1	−37.0%	Cons. · Japanese GAAP
FYE Dec 2024	15.8	+12.0%	Cons. · Japanese GAAP
FYE Dec 2025	35.4	+124.2%	Cons. · Japanese GAAP

Definition: Cash the business itself generated
Formula: Cash flow from operating activities
Source: Securities report (XBRL)

Investing cash flow

FYE Dec 2025 -¥29bn

Average · 10 yrs -¥18bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-10.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-8.1	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-22.4	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-12.6	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-30.5	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-22.3	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-15.9	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-10.2	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-16.7	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-28.5	n/a	Cons. · Japanese GAAP

Definition: Cash spent on, or released by, investment
Formula: Cash flow from investing activities
Source: Securities report (XBRL)

Financing cash flow

FYE Dec 2025 -¥15bn

Average · 10 yrs -¥0.0bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-1.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-1.4	n/a	Cons. · Japanese GAAP
FYE Dec 2018	14.8	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-2.1	−114.1%	Cons. · Japanese GAAP
FYE Dec 2020	22.7	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-9.3	−140.8%	Cons. · Japanese GAAP
FYE Dec 2022	0.5	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-7.6	−1663.8%	Cons. · Japanese GAAP
FYE Dec 2024	-1.3	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-14.9	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 Dec 2025 ¥20bn

CAGR · 10 yrs +9.0%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Dec 2016	9.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	11.5	+22.9%	Cons. · Japanese GAAP
FYE Dec 2018	16.3	+41.3%	Cons. · Japanese GAAP
FYE Dec 2019	18.5	+13.4%	Cons. · Japanese GAAP
FYE Dec 2020	27.5	+48.9%	Cons. · Japanese GAAP
FYE Dec 2021	23.8	−13.6%	Cons. · Japanese GAAP
FYE Dec 2022	32.7	+37.3%	Cons. · Japanese GAAP
FYE Dec 2023	29.7	−9.2%	Cons. · Japanese GAAP
FYE Dec 2024	28.4	−4.1%	Cons. · Japanese GAAP
FYE Dec 2025	20.4	−28.1%	Cons. · Japanese GAAP

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

Free cash flow

FYE Dec 2025 ¥6.9bn

CAGR · 10 yrs +13.8%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Dec 2016	2.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	3.5	+64.2%	Cons. · Japanese GAAP
FYE Dec 2018	-10.0	−383.2%	Cons. · Japanese GAAP
FYE Dec 2019	4.3	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-13.2	−407.9%	Cons. · Japanese GAAP
FYE Dec 2021	5.1	n/a	Cons. · Japanese GAAP
FYE Dec 2022	6.5	+27.0%	Cons. · Japanese GAAP
FYE Dec 2023	3.9	−39.7%	Cons. · Japanese GAAP
FYE Dec 2024	-0.9	−123.3%	Cons. · Japanese GAAP
FYE Dec 2025	6.9	n/a	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 Dec 2025 7.2%

Average · 10 yrs 6.1%

Fiscal year	OCF margin %	YoY	Basis
FYE Dec 2016	8.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	7.6	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2018	6.1	−1.5pp	Cons. · Japanese GAAP
FYE Dec 2019	6.6	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2020	6.7	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2021	6.8	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2022	4.9	−1.9pp	Cons. · Japanese GAAP
FYE Dec 2023	3.3	−1.7pp	Cons. · Japanese GAAP
FYE Dec 2024	3.5	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2025	7.2	+3.7pp	Cons. · Japanese GAAP

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

Net cash

FYE Dec 2025 -¥49bn

Average · 10 yrs -¥48bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Dec 2016	-37.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-35.8	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-46.6	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-44.2	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-60.3	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-56.4	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-51.8	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-55.0	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-48.0	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-49.2	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 Dec 2025 ¥150bn

Change · 10 yrs +¥117bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Dec 2016	32.2	n/a
FYE Dec 2017	44.9	n/a
FYE Dec 2018	56.4	n/a
FYE Dec 2019	75.4	n/a
FYE Dec 2020	104	n/a
FYE Dec 2021	129	n/a
FYE Dec 2022	110	n/a
FYE Dec 2023	97.5	n/a
FYE Dec 2024	94.3	n/a
FYE Dec 2025	150	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 Dec 2025 3,768¥

Change · 10 yrs +2,957¥

Fiscal year	Share price ¥	Basis
FYE Dec 2016	811	n/a
FYE Dec 2017	1,131	n/a
FYE Dec 2018	1,421	n/a
FYE Dec 2019	1,898	n/a
FYE Dec 2020	2,613	n/a
FYE Dec 2021	3,260	n/a
FYE Dec 2022	2,777	n/a
FYE Dec 2023	2,456	n/a
FYE Dec 2024	2,373	n/a
FYE Dec 2025	3,768	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 Dec 2025 39,718,200shares

Change · 10 yrs −0 shares

Fiscal year	Shares outstanding shares	Basis
FYE Dec 2016	39,718,200	Parent
FYE Dec 2017	39,718,200	Parent
FYE Dec 2018	39,718,200	Parent
FYE Dec 2019	39,718,200	Parent
FYE Dec 2020	39,718,200	Parent
FYE Dec 2021	39,718,200	Parent
FYE Dec 2022	39,718,200	Parent
FYE Dec 2023	39,718,200	Parent
FYE Dec 2024	39,718,200	Parent
FYE Dec 2025	39,718,200	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 Dec 2025 296.69¥

Change · 10 yrs +168.00¥

Fiscal year	EPS ¥	Basis
FYE Dec 2016	128.69	Cons.
FYE Dec 2017	111.94	Cons.
FYE Dec 2018	111.01	Cons.
FYE Dec 2019	153.06	Cons.
FYE Dec 2020	171.88	Cons.
FYE Dec 2021	271.67	Cons.
FYE Dec 2022	295.39	Cons.
FYE Dec 2023	253.20	Cons.
FYE Dec 2024	242.19	Cons.
FYE Dec 2025	296.69	Cons.

Definition: Net profit for each share
Formula: Net profit ÷ average shares outstanding
Source: Securities report (XBRL)

BPS book value per share

FYE Dec 2025 2,435.21¥

Change · 10 yrs +1,616.66¥

Fiscal year	BPS ¥	Basis
FYE Dec 2016	818.54	Cons. · Japanese GAAP
FYE Dec 2017	916.48	Cons. · Japanese GAAP
FYE Dec 2018	1,001.03	Cons. · Japanese GAAP
FYE Dec 2019	1,136.23	Cons. · Japanese GAAP
FYE Dec 2020	1,277.90	Cons. · Japanese GAAP
FYE Dec 2021	1,527.56	Cons. · Japanese GAAP
FYE Dec 2022	1,772.01	Cons. · Japanese GAAP
FYE Dec 2023	2,003.59	Cons. · Japanese GAAP
FYE Dec 2024	2,221.15	Cons. · Japanese GAAP
FYE Dec 2025	2,435.21	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Dec 2025 12.70×

Average · 10 yrs 11.04×

Fiscal year	PER ×	Basis
FYE Dec 2016	6.30	Cons.
FYE Dec 2017	10.10	Cons.
FYE Dec 2018	12.80	Cons.
FYE Dec 2019	12.40	Cons.
FYE Dec 2020	15.20	Cons.
FYE Dec 2021	12.00	Cons.
FYE Dec 2022	9.40	Cons.
FYE Dec 2023	9.70	Cons.
FYE Dec 2024	9.80	Cons.
FYE Dec 2025	12.70	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 Dec 2025 1.55×

Average · 10 yrs 1.49×

Fiscal year	PBR ×	Basis
FYE Dec 2016	0.99	Cons.
FYE Dec 2017	1.23	Cons.
FYE Dec 2018	1.42	Cons.
FYE Dec 2019	1.67	Cons.
FYE Dec 2020	2.04	Cons.
FYE Dec 2021	2.13	Cons.
FYE Dec 2022	1.57	Cons.
FYE Dec 2023	1.23	Cons.
FYE Dec 2024	1.07	Cons.
FYE Dec 2025	1.55	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 Dec 2025 11,772people

Change · 10 yrs +6,583 people

Fiscal year	Group employees people	YoY	Basis
FYE Dec 2016	5,189	n/a	Cons.
FYE Dec 2017	5,515	+6.3%	Cons.
FYE Dec 2018	6,979	+26.5%	Cons.
FYE Dec 2019	7,124	+2.1%	Cons.
FYE Dec 2020	9,742	+36.7%	Cons.
FYE Dec 2021	10,689	+9.7%	Cons.
FYE Dec 2022	10,859	+1.6%	Cons.
FYE Dec 2023	10,903	+0.4%	Cons.
FYE Dec 2024	10,759	−1.3%	Cons.
FYE Dec 2025	11,772	+9.4%	Cons.

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

Parent-company employees

FYE Dec 2025 310people

Change · 10 yrs +106 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Dec 2016	204	n/a	Parent
FYE Dec 2017	200	−2.0%	Parent
FYE Dec 2018	195	−2.5%	Parent
FYE Dec 2019	195	−0.0%	Parent
FYE Dec 2020	246	+26.2%	Parent
FYE Dec 2021	262	+6.5%	Parent
FYE Dec 2022	259	−1.1%	Parent
FYE Dec 2023	271	+4.6%	Parent
FYE Dec 2024	292	+7.7%	Parent
FYE Dec 2025	310	+6.2%	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 Dec 2025 602万円

Change · 7 yrs −47万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	649	n/a	Parent
FYE Dec 2020	634	−2.2%	Parent
FYE Dec 2021	619	−2.4%	Parent
FYE Dec 2022	608	−1.9%	Parent
FYE Dec 2023	610	+0.4%	Parent
FYE Dec 2024	588	−3.7%	Parent
FYE Dec 2025	602	+2.4%	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 Dec 2025 45.1years

Change · 7 yrs −0.5 years

Fiscal year	Average age years	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	45.6	n/a	Parent
FYE Dec 2020	44.7	−2.0%	Parent
FYE Dec 2021	43.5	−2.7%	Parent
FYE Dec 2022	42.2	−3.0%	Parent
FYE Dec 2023	46.0	+9.0%	Parent
FYE Dec 2024	45.0	−2.2%	Parent
FYE Dec 2025	45.1	+0.2%	Parent

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

Average length of service

FYE Dec 2025 5.9years

Change · 7 yrs −2.5 years

Fiscal year	Average length of service years	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	8.4	n/a	Parent
FYE Dec 2020	8.1	−3.6%	Parent
FYE Dec 2021	6.8	−16.0%	Parent
FYE Dec 2022	7.5	+10.3%	Parent
FYE Dec 2023	7.2	−4.0%	Parent
FYE Dec 2024	6.8	−5.6%	Parent
FYE Dec 2025	5.9	−13.2%	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 Dec 2025 13,270people

Change · 10 yrs +4,618 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Dec 2016	8,652	n/a	n/a
FYE Dec 2017	8,911	+3.0%	n/a
FYE Dec 2018	10,575	+18.7%	n/a
FYE Dec 2019	10,674	+0.9%	n/a
FYE Dec 2020	12,098	+13.3%	n/a
FYE Dec 2021	12,805	+5.8%	n/a
FYE Dec 2022	11,970	−6.5%	n/a
FYE Dec 2023	12,057	+0.7%	n/a
FYE Dec 2024	12,611	+4.6%	n/a
FYE Dec 2025	13,270	+5.2%	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 Dec 2025 ¥41.7m

Change · 10 yrs +¥12.9m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Dec 2016	28.7	n/a	Cons.
FYE Dec 2017	27.7	−3.5%	Cons.
FYE Dec 2018	29.2	+5.2%	Cons.
FYE Dec 2019	35.9	+23.0%	Cons.
FYE Dec 2020	26.4	−26.4%	Cons.
FYE Dec 2021	37.7	+43.0%	Cons.
FYE Dec 2022	41.9	+11.1%	Cons.
FYE Dec 2023	39.6	−5.6%	Cons.
FYE Dec 2024	41.7	+5.1%	Cons.
FYE Dec 2025	41.7	−0.0%	Cons.

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

Operating profit per employee

FYE Dec 2025 ¥1.8m

Change · 10 yrs +¥0.4m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Dec 2016	1.4	n/a	Cons.
FYE Dec 2017	1.1	−22.0%	Cons.
FYE Dec 2018	1.2	+4.5%	Cons.
FYE Dec 2019	1.4	+21.0%	Cons.
FYE Dec 2020	1.1	−21.2%	Cons.
FYE Dec 2021	1.9	+72.2%	Cons.
FYE Dec 2022	2.0	+3.8%	Cons.
FYE Dec 2023	1.8	−10.1%	Cons.
FYE Dec 2024	1.6	−9.0%	Cons.
FYE Dec 2025	1.8	+9.9%	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 →

Data API

SBS 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/2384/company.json ·/api/2384/history.json ·/api/2384/ceo.json ·/api/2384/financials.json ·/api/2384/financials/segment.json ·/api/2384/financials/pl.json ·/api/2384/financials/cf.json ·/api/2384/financials/bs.json ·/api/2384/financials/employee.json ·/api/2384/financials/stock.json ·/api/2384/financials.csv ·/api/2384/financials_history.csv

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