Financials

and ST Holdings: FYE Feb 2026 and ten years of results (50 metrics)

FYE Feb 2026 · Revenue¥304bnYoY +3.8%

FYE Feb 2026 · Operating profit¥17bnYoY +6.5%

FYE Feb 2026 · Net profit¥9.5bnYoY −1.2%

FYE Feb 2026 · Equity ratio58.3%YoY +0.4pp

FYE Feb 2026 · Group employees6,936YoY −8

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Feb 2017Consolidated	¥204bn	n/a	¥15bn	n/a	7.3%	¥12bn	—	—
FYE Feb 2018Consolidated	¥223bn	+9.4%	¥5.0bn	−66.4%	2.2%	¥0.9bn	—	Velvet acquired in the United States
FYE Feb 2019Consolidated	¥223bn	−0.1%	¥7.2bn	+43.7%	3.2%	¥3.9bn	Fukuda Michio	—
FYE Feb 2020Consolidated	¥222bn	−0.1%	¥13bn	+79.2%	5.8%	¥6.4bn	Fukuda Michio	—
FYE Feb 2021Consolidated	¥184bn	−17.3%	¥0.8bn	−94.1%	0.4%	-¥0.7bn	Fukuda Michio	—
FYE Feb 2022Consolidated	¥202bn	+9.6%	¥6.6bn	+756.9%	3.3%	¥4.9bn	Fukuda Michio	<a class="en-history_person" href="/tse/2685/executives/ceo/kimura-osamu/" hreflang="ja">Kimura Osamu</a> becomes president
FYE Feb 2023Consolidated	¥243bn	+20.3%	¥12bn	+75.4%	4.7%	¥7.5bn	Kimura Osamu	Zetton, a restaurant operator, acquired
FYE Feb 2024Consolidated	¥276bn	+13.6%	¥18bn	+56.4%	6.5%	¥14bn	Kimura Osamu	—
FYE Feb 2025Consolidated	¥293bn	+6.4%	¥16bn	−13.9%	5.3%	¥9.6bn	Kimura Osamu	Record results; and ST spun out as an e-commerce company
FYE Feb 2026Consolidated	¥304bn	+3.8%	¥17bn	+6.5%	5.4%	¥9.5bn	Kimura Osamu	Mid-term plan to 2030: exit the US, build the platform

How it compares

and ST Holdings¥304bnFY2025Operating margin 5.4%

World¥284bnFY2025Operating margin 5.6%Pal Group Holdings¥235bnFY2025Operating margin 11.6%

Onwadohorudingusu¥208bnFY2024Operating margin 4.9%

Nishimatsuyachen¥193bnFY2025Operating margin 5.1%

Wacoal Holdings¥172bnFY2025Operating margin 11.6%

United Arrows¥165bnFY2025Operating margin 5.5%

Tiesuaihorudingusu¥157bnFY2024Operating margin 1.0%

Sanyo Shokai¥58bnFY2025Operating margin 2.2%Renown IncorporatedDelisted 2020

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 Feb 2026 ¥304bn

CAGR · 10 yrs +4.6%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Feb 2017	204	n/a	Cons. · Japanese GAAP
FYE Feb 2018	223	+9.4%	Cons. · Japanese GAAP
FYE Feb 2019	223	−0.1%	Cons. · Japanese GAAP
FYE Feb 2020	222	−0.1%	Cons. · Japanese GAAP
FYE Feb 2021	184	−17.3%	Cons. · Japanese GAAP
FYE Feb 2022	202	+9.6%	Cons. · Japanese GAAP
FYE Feb 2023	243	+20.3%	Cons. · Japanese GAAP
FYE Feb 2024	276	+13.6%	Cons. · Japanese GAAP
FYE Feb 2025	293	+6.4%	Cons. · Japanese GAAP
FYE Feb 2026	304	+3.8%	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 Feb 2026 ¥138bn

CAGR · 10 yrs +5.0%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Feb 2017	89.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	102	+14.6%	Cons. · Japanese GAAP
FYE Feb 2019	103	+0.6%	Cons. · Japanese GAAP
FYE Feb 2020	99.0	−3.6%	Cons. · Japanese GAAP
FYE Feb 2021	83.7	−15.4%	Cons. · Japanese GAAP
FYE Feb 2022	90.6	+8.1%	Cons. · Japanese GAAP
FYE Feb 2023	110	+21.3%	Cons. · Japanese GAAP
FYE Feb 2024	123	+12.2%	Cons. · Japanese GAAP
FYE Feb 2025	133	+7.8%	Cons. · Japanese GAAP
FYE Feb 2026	138	+4.1%	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 Feb 2026 ¥166bn

CAGR · 10 yrs +4.2%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Feb 2017	115	n/a	Cons. · Japanese GAAP
FYE Feb 2018	121	+5.3%	Cons. · Japanese GAAP
FYE Feb 2019	120	−0.6%	Cons. · Japanese GAAP
FYE Feb 2020	123	+2.8%	Cons. · Japanese GAAP
FYE Feb 2021	100	−18.9%	Cons. · Japanese GAAP
FYE Feb 2022	111	+10.9%	Cons. · Japanese GAAP
FYE Feb 2023	133	+19.5%	Cons. · Japanese GAAP
FYE Feb 2024	152	+14.8%	Cons. · Japanese GAAP
FYE Feb 2025	160	+5.2%	Cons. · Japanese GAAP
FYE Feb 2026	166	+3.6%	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 Feb 2026 ¥150bn

CAGR · 10 yrs +4.6%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Feb 2017	99.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	116	+16.1%	Cons. · Japanese GAAP
FYE Feb 2019	113	−2.6%	Cons. · Japanese GAAP
FYE Feb 2020	110	−2.1%	Cons. · Japanese GAAP
FYE Feb 2021	99.4	−10.1%	Cons. · Japanese GAAP
FYE Feb 2022	104	+5.1%	Cons. · Japanese GAAP
FYE Feb 2023	121	+16.0%	Cons. · Japanese GAAP
FYE Feb 2024	134	+10.9%	Cons. · Japanese GAAP
FYE Feb 2025	145	+7.8%	Cons. · Japanese GAAP
FYE Feb 2026	150	+3.3%	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 Feb 2026 ¥17bn

CAGR · 10 yrs +1.1%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Feb 2017	14.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	5.0	−66.4%	Cons. · Japanese GAAP
FYE Feb 2019	7.2	+43.7%	Cons. · Japanese GAAP
FYE Feb 2020	12.9	+79.2%	Cons. · Japanese GAAP
FYE Feb 2021	0.8	−94.1%	Cons. · Japanese GAAP
FYE Feb 2022	6.6	+756.9%	Cons. · Japanese GAAP
FYE Feb 2023	11.5	+75.4%	Cons. · Japanese GAAP
FYE Feb 2024	18.0	+56.4%	Cons. · Japanese GAAP
FYE Feb 2025	15.5	−13.9%	Cons. · Japanese GAAP
FYE Feb 2026	16.5	+6.5%	Cons. · Japanese GAAP

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

Non-operating income

FYE Feb 2026 ¥0.8bn

CAGR · 10 yrs +5.1%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Feb 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Feb 2018	0.7	+30.8%	Cons. · Japanese GAAP
FYE Feb 2019	0.5	−29.5%	Cons. · Japanese GAAP
FYE Feb 2020	0.6	+18.6%	Cons. · Japanese GAAP
FYE Feb 2021	2.6	+356.7%	Cons. · Japanese GAAP
FYE Feb 2022	1.9	−26.6%	Cons. · Japanese GAAP
FYE Feb 2023	0.9	−53.0%	Cons. · Japanese GAAP
FYE Feb 2024	0.7	−16.3%	Cons. · Japanese GAAP
FYE Feb 2025	0.8	+7.4%	Cons. · Japanese GAAP
FYE Feb 2026	0.8	+0.8%	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 Feb 2026 ¥498m

CAGR · 10 yrs +5.7%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Feb 2017	303	n/a	Cons. · Japanese GAAP
FYE Feb 2018	247	−18.5%	Cons. · Japanese GAAP
FYE Feb 2019	317	+28.3%	Cons. · Japanese GAAP
FYE Feb 2020	602	+89.9%	Cons. · Japanese GAAP
FYE Feb 2021	346	−42.5%	Cons. · Japanese GAAP
FYE Feb 2022	278	−19.7%	Cons. · Japanese GAAP
FYE Feb 2023	372	+33.8%	Cons. · Japanese GAAP
FYE Feb 2024	364	−2.2%	Cons. · Japanese GAAP
FYE Feb 2025	340	−6.6%	Cons. · Japanese GAAP
FYE Feb 2026	498	+46.5%	Cons. · Japanese GAAP

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

Ordinary profit keijo rieki

FYE Feb 2026 ¥17bn

CAGR · 10 yrs +1.2%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Feb 2017	15.1	n/a	Cons. · Japanese GAAP
FYE Feb 2018	5.4	−64.1%	Cons. · Japanese GAAP
FYE Feb 2019	7.3	+35.3%	Cons. · Japanese GAAP
FYE Feb 2020	12.8	+74.9%	Cons. · Japanese GAAP
FYE Feb 2021	3.0	−76.8%	Cons. · Japanese GAAP
FYE Feb 2022	8.2	+173.9%	Cons. · Japanese GAAP
FYE Feb 2023	12.0	+47.3%	Cons. · Japanese GAAP
FYE Feb 2024	18.4	+52.9%	Cons. · Japanese GAAP
FYE Feb 2025	16.0	−13.2%	Cons. · Japanese GAAP
FYE Feb 2026	16.8	+5.4%	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 Feb 2026 ¥3.5bn

CAGR · 5 yrs −2.6%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Feb 2017	3.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	4.6	+18.9%	Cons. · Japanese GAAP
FYE Feb 2019	0.2	−95.6%	Cons. · Japanese GAAP
FYE Feb 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2022	0.3	n/a	Cons. · Japanese GAAP
FYE Feb 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2026	3.5	n/a	Cons. · Japanese GAAP

Definition: One-off gains, such as an asset sale
Formula: Extraordinary income line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Feb 2026 ¥9.5bn

CAGR · 10 yrs −2.2%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Feb 2017	11.6	n/a	Cons. · Japanese GAAP
FYE Feb 2018	0.9	−92.5%	Cons. · Japanese GAAP
FYE Feb 2019	3.9	+350.8%	Cons. · Japanese GAAP
FYE Feb 2020	6.4	+63.6%	Cons. · Japanese GAAP
FYE Feb 2021	-0.7	−110.9%	Cons. · Japanese GAAP
FYE Feb 2022	4.9	n/a	Cons. · Japanese GAAP
FYE Feb 2023	7.5	+53.3%	Cons. · Japanese GAAP
FYE Feb 2024	13.5	+79.2%	Cons. · Japanese GAAP
FYE Feb 2025	9.6	−28.9%	Cons. · Japanese GAAP
FYE Feb 2026	9.5	−1.2%	Cons. · Japanese GAAP

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

Gross margin

FYE Feb 2026 54.6%

Average · 10 yrs 54.9%

Fiscal year	Gross margin %	YoY	Basis
FYE Feb 2017	56.3	n/a	Cons. · Japanese GAAP
FYE Feb 2018	54.2	−2.1pp	Cons. · Japanese GAAP
FYE Feb 2019	53.9	−0.3pp	Cons. · Japanese GAAP
FYE Feb 2020	55.5	+1.6pp	Cons. · Japanese GAAP
FYE Feb 2021	54.5	−1.0pp	Cons. · Japanese GAAP
FYE Feb 2022	55.1	+0.6pp	Cons. · Japanese GAAP
FYE Feb 2023	54.7	−0.4pp	Cons. · Japanese GAAP
FYE Feb 2024	55.3	+0.6pp	Cons. · Japanese GAAP
FYE Feb 2025	54.7	−0.6pp	Cons. · Japanese GAAP
FYE Feb 2026	54.6	−0.1pp	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 Feb 2026 5.4%

Average · 10 yrs 4.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Feb 2017	7.3	n/a	Cons. · Japanese GAAP
FYE Feb 2018	2.2	−5.1pp	Cons. · Japanese GAAP
FYE Feb 2019	3.2	+1.0pp	Cons. · Japanese GAAP
FYE Feb 2020	5.8	+2.6pp	Cons. · Japanese GAAP
FYE Feb 2021	0.4	−5.4pp	Cons. · Japanese GAAP
FYE Feb 2022	3.3	+2.8pp	Cons. · Japanese GAAP
FYE Feb 2023	4.7	+1.5pp	Cons. · Japanese GAAP
FYE Feb 2024	6.5	+1.8pp	Cons. · Japanese GAAP
FYE Feb 2025	5.3	−1.2pp	Cons. · Japanese GAAP
FYE Feb 2026	5.4	+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 Feb 2026 5.5%

Average · 10 yrs 4.7%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Feb 2017	7.4	n/a	Cons. · Japanese GAAP
FYE Feb 2018	2.4	−5.0pp	Cons. · Japanese GAAP
FYE Feb 2019	3.3	+0.9pp	Cons. · Japanese GAAP
FYE Feb 2020	5.8	+2.5pp	Cons. · Japanese GAAP
FYE Feb 2021	1.6	−4.2pp	Cons. · Japanese GAAP
FYE Feb 2022	4.1	+2.4pp	Cons. · Japanese GAAP
FYE Feb 2023	5.0	+0.9pp	Cons. · Japanese GAAP
FYE Feb 2024	6.7	+1.7pp	Cons. · Japanese GAAP
FYE Feb 2025	5.4	−1.2pp	Cons. · Japanese GAAP
FYE Feb 2026	5.5	+0.1pp	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 Feb 2026 3.1%

Average · 10 yrs 2.7%

Fiscal year	Net margin %	YoY	Basis
FYE Feb 2017	5.7	n/a	Cons. · Japanese GAAP
FYE Feb 2018	0.4	−5.3pp	Cons. · Japanese GAAP
FYE Feb 2019	1.7	+1.4pp	Cons. · Japanese GAAP
FYE Feb 2020	2.9	+1.1pp	Cons. · Japanese GAAP
FYE Feb 2021	-0.4	−3.2pp	Cons. · Japanese GAAP
FYE Feb 2022	2.4	+2.8pp	Cons. · Japanese GAAP
FYE Feb 2023	3.1	+0.7pp	Cons. · Japanese GAAP
FYE Feb 2024	4.9	+1.8pp	Cons. · Japanese GAAP
FYE Feb 2025	3.3	−1.6pp	Cons. · Japanese GAAP
FYE Feb 2026	3.1	−0.2pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Feb 2026 45.4%

Average · 10 yrs 45.1%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Feb 2017	43.7	n/a	Cons. · Japanese GAAP
FYE Feb 2018	45.8	+2.1pp	Cons. · Japanese GAAP
FYE Feb 2019	46.1	+0.3pp	Cons. · Japanese GAAP
FYE Feb 2020	44.5	−1.6pp	Cons. · Japanese GAAP
FYE Feb 2021	45.5	+1.0pp	Cons. · Japanese GAAP
FYE Feb 2022	44.9	−0.6pp	Cons. · Japanese GAAP
FYE Feb 2023	45.3	+0.4pp	Cons. · Japanese GAAP
FYE Feb 2024	44.7	−0.6pp	Cons. · Japanese GAAP
FYE Feb 2025	45.3	+0.6pp	Cons. · Japanese GAAP
FYE Feb 2026	45.4	+0.1pp	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 Feb 2026 49.1%

Average · 10 yrs 50.4%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Feb 2017	49.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	52.0	+3.0pp	Cons. · Japanese GAAP
FYE Feb 2019	50.7	−1.3pp	Cons. · Japanese GAAP
FYE Feb 2020	49.7	−1.0pp	Cons. · Japanese GAAP
FYE Feb 2021	54.0	+4.3pp	Cons. · Japanese GAAP
FYE Feb 2022	51.8	−2.2pp	Cons. · Japanese GAAP
FYE Feb 2023	49.9	−1.9pp	Cons. · Japanese GAAP
FYE Feb 2024	48.7	−1.2pp	Cons. · Japanese GAAP
FYE Feb 2025	49.4	+0.6pp	Cons. · Japanese GAAP
FYE Feb 2026	49.1	−0.2pp	Cons. · Japanese GAAP

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

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

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Feb 2026 ¥140bn

CAGR · 10 yrs +5.0%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Feb 2017	90.4	n/a	Cons. · Japanese GAAP
FYE Feb 2018	91.1	+0.8%	Cons. · Japanese GAAP
FYE Feb 2019	91.3	+0.2%	Cons. · Japanese GAAP
FYE Feb 2020	97.9	+7.3%	Cons. · Japanese GAAP
FYE Feb 2021	95.4	−2.5%	Cons. · Japanese GAAP
FYE Feb 2022	98.0	+2.6%	Cons. · Japanese GAAP
FYE Feb 2023	111	+13.7%	Cons. · Japanese GAAP
FYE Feb 2024	128	+14.8%	Cons. · Japanese GAAP
FYE Feb 2025	133	+4.1%	Cons. · Japanese GAAP
FYE Feb 2026	140	+4.9%	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 Feb 2026 ¥81bn

CAGR · 10 yrs +4.2%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Feb 2017	56.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	51.0	−8.9%	Cons. · Japanese GAAP
FYE Feb 2019	53.0	+3.8%	Cons. · Japanese GAAP
FYE Feb 2020	57.0	+7.7%	Cons. · Japanese GAAP
FYE Feb 2021	50.7	−11.1%	Cons. · Japanese GAAP
FYE Feb 2022	54.0	+6.4%	Cons. · Japanese GAAP
FYE Feb 2023	59.4	+10.1%	Cons. · Japanese GAAP
FYE Feb 2024	70.1	+18.1%	Cons. · Japanese GAAP
FYE Feb 2025	77.1	+9.9%	Cons. · Japanese GAAP
FYE Feb 2026	81.4	+5.6%	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 Feb 2026 n/a

Average · 9 yrs ¥1.1bn

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Feb 2017	2.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	2.7	+31.1%	Cons. · Japanese GAAP
FYE Feb 2019	2.6	−4.0%	Cons. · Japanese GAAP
FYE Feb 2020	0.0	−100.0%	Cons. · Japanese GAAP
FYE Feb 2021	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2022	1.0	n/a	Cons. · Japanese GAAP
FYE Feb 2023	0.8	−24.2%	Cons. · Japanese GAAP
FYE Feb 2024	0.9	+20.5%	Cons. · Japanese GAAP
FYE Feb 2025	0.0	−100.0%	Cons. · Japanese GAAP
FYE Feb 2026	n/a	n/a	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Feb 2026 n/a

CAGR · 6 yrs −27.7%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Feb 2017	2.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	2.7	+31.1%	Cons. · Japanese GAAP
FYE Feb 2019	2.6	−4.0%	Cons. · Japanese GAAP
FYE Feb 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2022	0.1	n/a	Cons. · Japanese GAAP
FYE Feb 2023	0.2	+107.4%	Cons. · Japanese GAAP
FYE Feb 2024	0.4	+103.6%	Cons. · Japanese GAAP
FYE Feb 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: Borrowings repayable within a year
Formula: Short-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Long-term borrowings

FYE Feb 2026 n/a

CAGR · 3 yrs −25.0%

Fiscal year	Long-term borrowings ¥ m	YoY	Basis
FYE Feb 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2022	896	n/a	Cons. · Japanese GAAP
FYE Feb 2023	554	−38.2%	Cons. · Japanese GAAP
FYE Feb 2024	504	−9.0%	Cons. · Japanese GAAP
FYE Feb 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2026	n/a	n/a	Cons. · Japanese GAAP

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

Intangible assets

FYE Feb 2026 ¥13bn

CAGR · 10 yrs +9.5%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Feb 2017	5.6	n/a	Cons. · Japanese GAAP
FYE Feb 2018	6.2	+11.9%	Cons. · Japanese GAAP
FYE Feb 2019	5.9	−5.2%	Cons. · Japanese GAAP
FYE Feb 2020	6.3	+6.6%	Cons. · Japanese GAAP
FYE Feb 2021	7.3	+16.2%	Cons. · Japanese GAAP
FYE Feb 2022	10.8	+48.6%	Cons. · Japanese GAAP
FYE Feb 2023	11.9	+9.9%	Cons. · Japanese GAAP
FYE Feb 2024	12.4	+3.9%	Cons. · Japanese GAAP
FYE Feb 2025	14.7	+18.6%	Cons. · Japanese GAAP
FYE Feb 2026	12.6	−14.3%	Cons. · Japanese GAAP

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

Goodwill

FYE Feb 2026 ¥0.6bn

CAGR · 10 yrs −17.8%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Feb 2017	3.3	n/a	Cons. · Japanese GAAP
FYE Feb 2018	2.0	−40.8%	Cons. · Japanese GAAP
FYE Feb 2019	0.6	−66.9%	Cons. · Japanese GAAP
FYE Feb 2020	0.5	−26.2%	Cons. · Japanese GAAP
FYE Feb 2021	0.1	−76.4%	Cons. · Japanese GAAP
FYE Feb 2022	0.9	+715.9%	Cons. · Japanese GAAP
FYE Feb 2023	1.3	+44.4%	Cons. · Japanese GAAP
FYE Feb 2024	1.1	−16.7%	Cons. · Japanese GAAP
FYE Feb 2025	2.7	+141.0%	Cons. · Japanese GAAP
FYE Feb 2026	0.6	−78.8%	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 Feb 2026 58.3%

Average · 10 yrs 56.7%

Fiscal year	Equity ratio %	YoY	Basis
FYE Feb 2017	62.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	56.0	−6.0pp	Cons. · Japanese GAAP
FYE Feb 2019	58.0	+2.0pp	Cons. · Japanese GAAP
FYE Feb 2020	58.3	+0.2pp	Cons. · Japanese GAAP
FYE Feb 2021	53.1	−5.1pp	Cons. · Japanese GAAP
FYE Feb 2022	55.1	+2.0pp	Cons. · Japanese GAAP
FYE Feb 2023	53.3	−1.8pp	Cons. · Japanese GAAP
FYE Feb 2024	54.8	+1.5pp	Cons. · Japanese GAAP
FYE Feb 2025	57.9	+3.1pp	Cons. · Japanese GAAP
FYE Feb 2026	58.3	+0.4pp	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 Feb 2026 n/a

Average · 9 yrs 2.0%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Feb 2017	3.6	n/a	Cons. · Japanese GAAP
FYE Feb 2018	5.2	+1.6pp	Cons. · Japanese GAAP
FYE Feb 2019	4.8	−0.4pp	Cons. · Japanese GAAP
FYE Feb 2020	0.0	−4.8pp	Cons. · Japanese GAAP
FYE Feb 2021	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2022	1.8	+1.8pp	Cons. · Japanese GAAP
FYE Feb 2023	1.3	−0.6pp	Cons. · Japanese GAAP
FYE Feb 2024	1.3	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2025	0.0	−1.3pp	Cons. · Japanese GAAP
FYE Feb 2026	n/a	n/a	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 Feb 2026 11.7%

Average · 10 yrs 10.5%

Fiscal year	ROE %	YoY	Basis
FYE Feb 2017	20.7	n/a	Cons. · Japanese GAAP
FYE Feb 2018	1.7	−19.0pp	Cons. · Japanese GAAP
FYE Feb 2019	7.3	+5.7pp	Cons. · Japanese GAAP
FYE Feb 2020	11.2	+3.8pp	Cons. · Japanese GAAP
FYE Feb 2021	-1.4	−12.5pp	Cons. · Japanese GAAP
FYE Feb 2022	9.1	+10.5pp	Cons. · Japanese GAAP
FYE Feb 2023	12.7	+3.6pp	Cons. · Japanese GAAP
FYE Feb 2024	19.3	+6.6pp	Cons. · Japanese GAAP
FYE Feb 2025	12.5	−6.8pp	Cons. · Japanese GAAP
FYE Feb 2026	11.7	−0.8pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Feb 2026 6.8%

Average · 10 yrs 6.0%

Fiscal year	ROA %	YoY	Basis
FYE Feb 2017	12.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	0.9	−11.9pp	Cons. · Japanese GAAP
FYE Feb 2019	4.3	+3.3pp	Cons. · Japanese GAAP
FYE Feb 2020	6.5	+2.2pp	Cons. · Japanese GAAP
FYE Feb 2021	-0.7	−7.2pp	Cons. · Japanese GAAP
FYE Feb 2022	5.0	+5.7pp	Cons. · Japanese GAAP
FYE Feb 2023	6.8	+1.7pp	Cons. · Japanese GAAP
FYE Feb 2024	10.6	+3.8pp	Cons. · Japanese GAAP
FYE Feb 2025	7.2	−3.3pp	Cons. · Japanese GAAP
FYE Feb 2026	6.8	−0.4pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Feb 2026 2.18×

CAGR · 10 yrs −0.4%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Feb 2017	2.25	n/a	Cons. · Japanese GAAP
FYE Feb 2018	2.44	+8.5%	Cons. · Japanese GAAP
FYE Feb 2019	2.44	−0.2%	Cons. · Japanese GAAP
FYE Feb 2020	2.27	−6.9%	Cons. · Japanese GAAP
FYE Feb 2021	1.93	−15.2%	Cons. · Japanese GAAP
FYE Feb 2022	2.06	+6.8%	Cons. · Japanese GAAP
FYE Feb 2023	2.18	+5.8%	Cons. · Japanese GAAP
FYE Feb 2024	2.15	−1.1%	Cons. · Japanese GAAP
FYE Feb 2025	2.20	+2.2%	Cons. · Japanese GAAP
FYE Feb 2026	2.18	−1.1%	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 Feb 2026 ¥21bn

CAGR · 10 yrs +6.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Feb 2017	11.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	10.7	−10.4%	Cons. · Japanese GAAP
FYE Feb 2019	9.9	−7.3%	Cons. · Japanese GAAP
FYE Feb 2020	20.9	+110.5%	Cons. · Japanese GAAP
FYE Feb 2021	11.9	−42.8%	Cons. · Japanese GAAP
FYE Feb 2022	3.5	−70.6%	Cons. · Japanese GAAP
FYE Feb 2023	13.5	+284.1%	Cons. · Japanese GAAP
FYE Feb 2024	22.2	+65.1%	Cons. · Japanese GAAP
FYE Feb 2025	21.4	−3.8%	Cons. · Japanese GAAP
FYE Feb 2026	20.6	−3.8%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Feb 2026 -¥9.5bn

Average · 10 yrs -¥8.9bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Feb 2017	-4.3	n/a	Cons. · Japanese GAAP
FYE Feb 2018	-7.4	n/a	Cons. · Japanese GAAP
FYE Feb 2019	-8.7	n/a	Cons. · Japanese GAAP
FYE Feb 2020	-6.6	n/a	Cons. · Japanese GAAP
FYE Feb 2021	-7.4	n/a	Cons. · Japanese GAAP
FYE Feb 2022	-7.8	n/a	Cons. · Japanese GAAP
FYE Feb 2023	-10.0	n/a	Cons. · Japanese GAAP
FYE Feb 2024	-9.9	n/a	Cons. · Japanese GAAP
FYE Feb 2025	-17.0	n/a	Cons. · Japanese GAAP
FYE Feb 2026	-9.5	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 Feb 2026 -¥7.4bn

Average · 10 yrs -¥5.4bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Feb 2017	-6.3	n/a	Cons. · Japanese GAAP
FYE Feb 2018	-4.6	n/a	Cons. · Japanese GAAP
FYE Feb 2019	-1.9	n/a	Cons. · Japanese GAAP
FYE Feb 2020	-6.4	n/a	Cons. · Japanese GAAP
FYE Feb 2021	-6.8	n/a	Cons. · Japanese GAAP
FYE Feb 2022	-3.3	n/a	Cons. · Japanese GAAP
FYE Feb 2023	-4.4	n/a	Cons. · Japanese GAAP
FYE Feb 2024	-5.6	n/a	Cons. · Japanese GAAP
FYE Feb 2025	-7.1	n/a	Cons. · Japanese GAAP
FYE Feb 2026	-7.4	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 Feb 2026 ¥25bn

CAGR · 10 yrs +2.0%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Feb 2017	20.7	n/a	Cons. · Japanese GAAP
FYE Feb 2018	19.4	−6.4%	Cons. · Japanese GAAP
FYE Feb 2019	18.6	−3.8%	Cons. · Japanese GAAP
FYE Feb 2020	26.4	+41.5%	Cons. · Japanese GAAP
FYE Feb 2021	24.1	−8.7%	Cons. · Japanese GAAP
FYE Feb 2022	16.9	−30.0%	Cons. · Japanese GAAP
FYE Feb 2023	16.3	−3.1%	Cons. · Japanese GAAP
FYE Feb 2024	23.3	+42.8%	Cons. · Japanese GAAP
FYE Feb 2025	21.1	−9.7%	Cons. · Japanese GAAP
FYE Feb 2026	24.8	+17.7%	Cons. · Japanese GAAP

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

Free cash flow

FYE Feb 2026 ¥11bn

CAGR · 10 yrs +4.2%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Feb 2017	7.6	n/a	Cons. · Japanese GAAP
FYE Feb 2018	3.3	−56.9%	Cons. · Japanese GAAP
FYE Feb 2019	1.2	−62.9%	Cons. · Japanese GAAP
FYE Feb 2020	14.2	+1066.3%	Cons. · Japanese GAAP
FYE Feb 2021	4.6	−67.8%	Cons. · Japanese GAAP
FYE Feb 2022	-4.3	−193.6%	Cons. · Japanese GAAP
FYE Feb 2023	3.5	n/a	Cons. · Japanese GAAP
FYE Feb 2024	12.3	+251.8%	Cons. · Japanese GAAP
FYE Feb 2025	4.4	−64.2%	Cons. · Japanese GAAP
FYE Feb 2026	11.1	+151.0%	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 Feb 2026 6.8%

Average · 10 yrs 6.0%

Fiscal year	OCF margin %	YoY	Basis
FYE Feb 2017	5.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	4.8	−1.1pp	Cons. · Japanese GAAP
FYE Feb 2019	4.4	−0.3pp	Cons. · Japanese GAAP
FYE Feb 2020	9.4	+4.9pp	Cons. · Japanese GAAP
FYE Feb 2021	6.5	−2.9pp	Cons. · Japanese GAAP
FYE Feb 2022	1.7	−4.8pp	Cons. · Japanese GAAP
FYE Feb 2023	5.5	+3.8pp	Cons. · Japanese GAAP
FYE Feb 2024	8.1	+2.5pp	Cons. · Japanese GAAP
FYE Feb 2025	7.3	−0.8pp	Cons. · Japanese GAAP
FYE Feb 2026	6.8	−0.5pp	Cons. · Japanese GAAP

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

Net cash

FYE Feb 2026 n/a

CAGR · 9 yrs +1.5%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Feb 2017	18.7	n/a	Cons. · Japanese GAAP
FYE Feb 2018	16.7	−10.5%	Cons. · Japanese GAAP
FYE Feb 2019	16.1	−3.8%	Cons. · Japanese GAAP
FYE Feb 2020	26.4	+63.9%	Cons. · Japanese GAAP
FYE Feb 2021	24.1	−8.7%	Cons. · Japanese GAAP
FYE Feb 2022	15.9	−34.1%	Cons. · Japanese GAAP
FYE Feb 2023	15.6	−1.8%	Cons. · Japanese GAAP
FYE Feb 2024	22.4	+43.9%	Cons. · Japanese GAAP
FYE Feb 2025	21.1	−6.0%	Cons. · Japanese GAAP
FYE Feb 2026	n/a	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 Feb 2026 ¥147bn

Change · 9 yrs +¥4.7bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Feb 2017	142	n/a
FYE Feb 2018	114	n/a
FYE Feb 2019	94.8	n/a
FYE Feb 2020	85.7	n/a
FYE Feb 2021	n/a	n/a
FYE Feb 2022	90.7	n/a
FYE Feb 2023	106	n/a
FYE Feb 2024	167	n/a
FYE Feb 2025	142	n/a
FYE Feb 2026	147	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 Feb 2026 3,006¥

Change · 9 yrs +96¥

Fiscal year	Share price ¥	Basis
FYE Feb 2017	2,910	n/a
FYE Feb 2018	2,326	n/a
FYE Feb 2019	1,943	n/a
FYE Feb 2020	1,756	n/a
FYE Feb 2021	n/a	n/a
FYE Feb 2022	1,859	n/a
FYE Feb 2023	2,163	n/a
FYE Feb 2024	3,424	n/a
FYE Feb 2025	2,904	n/a
FYE Feb 2026	3,006	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 Feb 2026 48,800,000shares

Change · 10 yrs −0 shares

Fiscal year	Shares outstanding shares	Basis
FYE Feb 2017	48,800,000	Parent
FYE Feb 2018	48,800,000	Parent
FYE Feb 2019	48,800,000	Parent
FYE Feb 2020	48,800,000	Parent
FYE Feb 2021	48,800,000	Parent
FYE Feb 2022	48,800,000	Parent
FYE Feb 2023	48,800,000	Parent
FYE Feb 2024	48,800,000	Parent
FYE Feb 2025	48,800,000	Parent
FYE Feb 2026	48,800,000	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 Feb 2026 205.86¥

Change · 10 yrs −36.63¥

Fiscal year	EPS ¥	Basis
FYE Feb 2017	242.49	Cons.
FYE Feb 2018	18.36	Cons.
FYE Feb 2019	82.67	Cons.
FYE Feb 2020	135.08	Cons.
FYE Feb 2021	-14.88	Cons.
FYE Feb 2022	108.72	Cons.
FYE Feb 2023	166.37	Cons.
FYE Feb 2024	297.75	Cons.
FYE Feb 2025	208.93	Cons.
FYE Feb 2026	205.86	Cons.

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

BPS book value per share

FYE Feb 2026 1,668.93¥

Change · 10 yrs +520.68¥

Fiscal year	BPS ¥	Basis
FYE Feb 2017	1,148.26	Cons. · Japanese GAAP
FYE Feb 2018	1,045.70	Cons. · Japanese GAAP
FYE Feb 2019	1,085.23	Cons. · Japanese GAAP
FYE Feb 2020	1,168.87	Cons. · Japanese GAAP
FYE Feb 2021	1,038.95	Cons. · Japanese GAAP
FYE Feb 2022	1,105.80	Cons. · Japanese GAAP
FYE Feb 2023	1,217.36	Cons. · Japanese GAAP
FYE Feb 2024	1,437.38	Cons. · Japanese GAAP
FYE Feb 2025	1,579.98	Cons. · Japanese GAAP
FYE Feb 2026	1,668.93	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Feb 2026 14.60×

Average · 9 yrs 27.26×

Fiscal year	PER ×	Basis
FYE Feb 2017	12.00	Cons.
FYE Feb 2018	126.70	Cons.
FYE Feb 2019	23.50	Cons.
FYE Feb 2020	13.00	Cons.
FYE Feb 2021	n/a	Cons.
FYE Feb 2022	17.10	Cons.
FYE Feb 2023	13.00	Cons.
FYE Feb 2024	11.50	Cons.
FYE Feb 2025	13.90	Cons.
FYE Feb 2026	14.60	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 Feb 2026 1.70×

Average · 9 yrs 1.85×

Fiscal year	PBR ×	Basis
FYE Feb 2017	2.44	Cons.
FYE Feb 2018	2.14	Cons.
FYE Feb 2019	1.73	Cons.
FYE Feb 2020	1.45	Cons.
FYE Feb 2021	n/a	Cons.
FYE Feb 2022	1.56	Cons.
FYE Feb 2023	1.65	Cons.
FYE Feb 2024	2.21	Cons.
FYE Feb 2025	1.74	Cons.
FYE Feb 2026	1.70	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 Feb 2026 6,936people

Change · 10 yrs +2,022 people

Fiscal year	Group employees people	YoY	Basis
FYE Feb 2017	4,914	n/a	Cons.
FYE Feb 2018	5,677	+15.5%	Cons.
FYE Feb 2019	5,665	−0.2%	Cons.
FYE Feb 2020	5,715	+0.9%	Cons.
FYE Feb 2021	5,701	−0.2%	Cons.
FYE Feb 2022	6,196	+8.7%	Cons.
FYE Feb 2023	6,356	+2.6%	Cons.
FYE Feb 2024	6,603	+3.9%	Cons.
FYE Feb 2025	6,944	+5.2%	Cons.
FYE Feb 2026	6,936	−0.1%	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 Feb 2026 506people

Change · 10 yrs −3,653 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Feb 2017	4,159	n/a	Parent
FYE Feb 2018	4,382	+5.4%	Parent
FYE Feb 2019	4,482	+2.3%	Parent
FYE Feb 2020	4,480	−0.0%	Parent
FYE Feb 2021	4,478	−0.0%	Parent
FYE Feb 2022	4,478	−0.0%	Parent
FYE Feb 2023	4,520	+0.9%	Parent
FYE Feb 2024	4,713	+4.3%	Parent
FYE Feb 2025	4,919	+4.4%	Parent
FYE Feb 2026	506	−89.7%	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 Feb 2026 433万円

Change · 7 yrs +10万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Feb 2017	n/a	n/a	Parent
FYE Feb 2018	n/a	n/a	Parent
FYE Feb 2019	n/a	n/a	Parent
FYE Feb 2020	423	n/a	Parent
FYE Feb 2021	402	−4.9%	Parent
FYE Feb 2022	402	−0.1%	Parent
FYE Feb 2023	423	+5.3%	Parent
FYE Feb 2024	442	+4.5%	Parent
FYE Feb 2025	453	+2.5%	Parent
FYE Feb 2026	433	−4.5%	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 Feb 2026 38.4years

Change · 7 yrs +6.6 years

Fiscal year	Average age years	YoY	Basis
FYE Feb 2017	n/a	n/a	Parent
FYE Feb 2018	n/a	n/a	Parent
FYE Feb 2019	n/a	n/a	Parent
FYE Feb 2020	31.8	n/a	Parent
FYE Feb 2021	32.3	+1.6%	Parent
FYE Feb 2022	32.5	+0.6%	Parent
FYE Feb 2023	32.9	+1.2%	Parent
FYE Feb 2024	33.2	+0.9%	Parent
FYE Feb 2025	33.3	+0.3%	Parent
FYE Feb 2026	38.4	+15.3%	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 Feb 2026 10.7years

Change · 7 yrs +4.6 years

Fiscal year	Average length of service years	YoY	Basis
FYE Feb 2017	n/a	n/a	Parent
FYE Feb 2018	n/a	n/a	Parent
FYE Feb 2019	n/a	n/a	Parent
FYE Feb 2020	6.1	n/a	Parent
FYE Feb 2021	6.6	+8.2%	Parent
FYE Feb 2022	7.3	+10.6%	Parent
FYE Feb 2023	8.1	+11.0%	Parent
FYE Feb 2024	8.9	+9.9%	Parent
FYE Feb 2025	9.1	+2.2%	Parent
FYE Feb 2026	10.7	+17.6%	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 Feb 2026 6,853people

Change · 10 yrs +690 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Feb 2017	6,163	n/a	n/a
FYE Feb 2018	6,564	+6.5%	n/a
FYE Feb 2019	6,363	−3.1%	n/a
FYE Feb 2020	6,167	−3.1%	n/a
FYE Feb 2021	5,085	−17.5%	n/a
FYE Feb 2022	5,719	+12.5%	n/a
FYE Feb 2023	6,061	+6.0%	n/a
FYE Feb 2024	6,448	+6.4%	n/a
FYE Feb 2025	6,718	+4.2%	n/a
FYE Feb 2026	6,853	+2.0%	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 Feb 2026 ¥43.9m

Change · 10 yrs +¥2.4m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Feb 2017	41.5	n/a	Cons.
FYE Feb 2018	39.2	−5.3%	Cons.
FYE Feb 2019	39.3	+0.2%	Cons.
FYE Feb 2020	38.9	−1.0%	Cons.
FYE Feb 2021	32.3	−17.1%	Cons.
FYE Feb 2022	32.5	+0.9%	Cons.
FYE Feb 2023	38.2	+17.3%	Cons.
FYE Feb 2024	41.7	+9.4%	Cons.
FYE Feb 2025	42.2	+1.1%	Cons.
FYE Feb 2026	43.9	+4.0%	Cons.

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

Operating profit per employee

FYE Feb 2026 ¥2.4m

Change · 10 yrs −¥0.7m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Feb 2017	3.0	n/a	Cons.
FYE Feb 2018	0.9	−71.0%	Cons.
FYE Feb 2019	1.3	+44.0%	Cons.
FYE Feb 2020	2.3	+77.6%	Cons.
FYE Feb 2021	0.1	−94.0%	Cons.
FYE Feb 2022	1.1	+688.5%	Cons.
FYE Feb 2023	1.8	+71.0%	Cons.
FYE Feb 2024	2.7	+50.6%	Cons.
FYE Feb 2025	2.2	−18.1%	Cons.
FYE Feb 2026	2.4	+6.7%	Cons.

Definition: What each employee accounts for in operating profit
Formula: Operating profit ÷ group employees
Source: Securities report (XBRL)

Disclaimer

Figures are reproduced as filed and are not restated: a change of accounting standard or of consolidation basis moves the series without anything happening to the business. Where that happened, the table says so in place of the year-on-year figure.
Ratios and per-employee figures are computed from the filed lines rather than taken from the filing, and use year-end balances rather than averages.

Accuracy, liability, reuse and privacy — the full disclaimer →

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