Financials

Pal Group Holdings: FYE Feb 2026 and ten years of results (49 metrics)

FYE Feb 2026 · Revenue¥235bnYoY +12.9%

FYE Feb 2026 · Operating profit¥27bnYoY +14.7%

FYE Feb 2026 · Net profit¥18bnYoY +49.5%

FYE Feb 2026 · Equity ratio50.8%YoY +2.9pp

FYE Feb 2026 · Group employees4,441YoY +162

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Feb 2017Consolidated	¥116bn	n/a	¥6.2bn	n/a	5.3%	¥3.1bn	Inoue Ryuta	Converts to a holding company; operations moved to a new Pal
FYE Feb 2018Consolidated	¥123bn	+5.8%	¥7.0bn	+14.2%	5.7%	¥2.5bn	Inoue Ryuta	—
FYE Feb 2019Consolidated	¥130bn	+5.9%	¥7.9bn	+12.7%	6.1%	¥4.8bn	Inoue Ryuta	—
FYE Feb 2020Consolidated	¥132bn	+1.3%	¥9.1bn	+14.3%	6.9%	¥7.0bn	Inoue Ryuta	—
FYE Feb 2021Consolidated	¥109bn	−17.9%	¥1.4bn	−84.7%	1.3%	¥0.3bn	Inoue Ryuta	—
FYE Feb 2022Consolidated	¥134bn	+23.7%	¥7.5bn	+443.7%	5.6%	¥4.0bn	Inoue Ryuta	—
FYE Feb 2023Consolidated	¥164bn	+22.6%	¥16bn	+110.4%	9.6%	¥10.0bn	Inoue Ryuta	Moves to the TSE Prime market
FYE Feb 2024Consolidated	¥193bn	+17.1%	¥19bn	+17.6%	9.7%	¥13bn	Inoue Ryuta	—
FYE Feb 2025Consolidated	¥208bn	+7.9%	¥24bn	+27.1%	11.4%	¥12bn	Inoue Ryuta	—
FYE Feb 2026Consolidated	¥235bn	+12.9%	¥27bn	+14.7%	11.6%	¥18bn	Inoue Ryuta	<a class="en-history_person" href="/tse/2726/executives/ceo/kojima-hirofumi/" hreflang="ja">Kojima Hirofumi</a> becomes president; record profit of <span class="en-history_money" data-yen="11800000000" data-year="2025">$78.9M (¥12bn)</span>

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 ¥235bn

CAGR · 10 yrs +8.1%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Feb 2017	116	n/a	Cons. · Japanese GAAP
FYE Feb 2018	123	+5.8%	Cons. · Japanese GAAP
FYE Feb 2019	130	+5.9%	Cons. · Japanese GAAP
FYE Feb 2020	132	+1.3%	Cons. · Japanese GAAP
FYE Feb 2021	109	−17.9%	Cons. · Japanese GAAP
FYE Feb 2022	134	+23.7%	Cons. · Japanese GAAP
FYE Feb 2023	164	+22.6%	Cons. · Japanese GAAP
FYE Feb 2024	193	+17.1%	Cons. · Japanese GAAP
FYE Feb 2025	208	+7.9%	Cons. · Japanese GAAP
FYE Feb 2026	235	+12.9%	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 ¥102bn

CAGR · 10 yrs +7.9%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Feb 2017	51.2	n/a	Cons. · Japanese GAAP
FYE Feb 2018	54.5	+6.5%	Cons. · Japanese GAAP
FYE Feb 2019	57.8	+6.0%	Cons. · Japanese GAAP
FYE Feb 2020	57.8	−0.0%	Cons. · Japanese GAAP
FYE Feb 2021	49.3	−14.7%	Cons. · Japanese GAAP
FYE Feb 2022	59.9	+21.5%	Cons. · Japanese GAAP
FYE Feb 2023	74.3	+24.0%	Cons. · Japanese GAAP
FYE Feb 2024	86.3	+16.2%	Cons. · Japanese GAAP
FYE Feb 2025	91.6	+6.2%	Cons. · Japanese GAAP
FYE Feb 2026	102	+11.0%	Cons. · Japanese GAAP

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

Gross profit

FYE Feb 2026 ¥133bn

CAGR · 10 yrs +8.2%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Feb 2017	65.3	n/a	Cons. · Japanese GAAP
FYE Feb 2018	68.8	+5.3%	Cons. · Japanese GAAP
FYE Feb 2019	72.7	+5.7%	Cons. · Japanese GAAP
FYE Feb 2020	74.4	+2.3%	Cons. · Japanese GAAP
FYE Feb 2021	59.2	−20.4%	Cons. · Japanese GAAP
FYE Feb 2022	74.3	+25.5%	Cons. · Japanese GAAP
FYE Feb 2023	90.2	+21.4%	Cons. · Japanese GAAP
FYE Feb 2024	106	+17.8%	Cons. · Japanese GAAP
FYE Feb 2025	116	+9.4%	Cons. · Japanese GAAP
FYE Feb 2026	133	+14.4%	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 ¥106bn

CAGR · 10 yrs +6.7%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Feb 2017	59.1	n/a	Cons. · Japanese GAAP
FYE Feb 2018	61.7	+4.3%	Cons. · Japanese GAAP
FYE Feb 2019	64.8	+5.0%	Cons. · Japanese GAAP
FYE Feb 2020	65.3	+0.9%	Cons. · Japanese GAAP
FYE Feb 2021	57.9	−11.4%	Cons. · Japanese GAAP
FYE Feb 2022	66.8	+15.5%	Cons. · Japanese GAAP
FYE Feb 2023	74.4	+11.4%	Cons. · Japanese GAAP
FYE Feb 2024	87.7	+17.8%	Cons. · Japanese GAAP
FYE Feb 2025	92.6	+5.6%	Cons. · Japanese GAAP
FYE Feb 2026	106	+14.4%	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 ¥27bn

CAGR · 10 yrs +17.9%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Feb 2017	6.2	n/a	Cons. · Japanese GAAP
FYE Feb 2018	7.0	+14.2%	Cons. · Japanese GAAP
FYE Feb 2019	7.9	+12.7%	Cons. · Japanese GAAP
FYE Feb 2020	9.1	+14.3%	Cons. · Japanese GAAP
FYE Feb 2021	1.4	−84.7%	Cons. · Japanese GAAP
FYE Feb 2022	7.5	+443.7%	Cons. · Japanese GAAP
FYE Feb 2023	15.8	+110.4%	Cons. · Japanese GAAP
FYE Feb 2024	18.6	+17.6%	Cons. · Japanese GAAP
FYE Feb 2025	23.7	+27.1%	Cons. · Japanese GAAP
FYE Feb 2026	27.1	+14.7%	Cons. · Japanese GAAP

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

Non-operating income

FYE Feb 2026 ¥223m

CAGR · 10 yrs +9.3%

Fiscal year	Non-operating income ¥ m	YoY	Basis
FYE Feb 2017	100	n/a	Cons. · Japanese GAAP
FYE Feb 2018	84.0	−16.0%	Cons. · Japanese GAAP
FYE Feb 2019	94.0	+11.9%	Cons. · Japanese GAAP
FYE Feb 2020	249	+164.9%	Cons. · Japanese GAAP
FYE Feb 2021	135	−45.8%	Cons. · Japanese GAAP
FYE Feb 2022	416	+208.1%	Cons. · Japanese GAAP
FYE Feb 2023	356	−14.4%	Cons. · Japanese GAAP
FYE Feb 2024	385	+8.1%	Cons. · Japanese GAAP
FYE Feb 2025	428	+11.2%	Cons. · Japanese GAAP
FYE Feb 2026	223	−47.9%	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 Feb 2026 ¥239m

CAGR · 10 yrs +1.0%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Feb 2017	219	n/a	Cons. · Japanese GAAP
FYE Feb 2018	159	−27.4%	Cons. · Japanese GAAP
FYE Feb 2019	195	+22.6%	Cons. · Japanese GAAP
FYE Feb 2020	148	−24.1%	Cons. · Japanese GAAP
FYE Feb 2021	465	+214.2%	Cons. · Japanese GAAP
FYE Feb 2022	276	−40.6%	Cons. · Japanese GAAP
FYE Feb 2023	117	−57.6%	Cons. · Japanese GAAP
FYE Feb 2024	151	+29.1%	Cons. · Japanese GAAP
FYE Feb 2025	155	+2.6%	Cons. · Japanese GAAP
FYE Feb 2026	239	+54.2%	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 ¥27bn

CAGR · 10 yrs +18.2%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Feb 2017	6.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	7.0	+15.3%	Cons. · Japanese GAAP
FYE Feb 2019	7.8	+12.4%	Cons. · Japanese GAAP
FYE Feb 2020	9.2	+17.1%	Cons. · Japanese GAAP
FYE Feb 2021	1.1	−88.5%	Cons. · Japanese GAAP
FYE Feb 2022	7.7	+628.1%	Cons. · Japanese GAAP
FYE Feb 2023	16.1	+109.7%	Cons. · Japanese GAAP
FYE Feb 2024	18.8	+17.3%	Cons. · Japanese GAAP
FYE Feb 2025	23.9	+27.0%	Cons. · Japanese GAAP
FYE Feb 2026	27.1	+13.4%	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 ¥110m

CAGR · 5 yrs −38.1%

Fiscal year	Extraordinary income ¥ 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	751	n/a	Cons. · Japanese GAAP
FYE Feb 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2021	333	n/a	Cons. · Japanese GAAP
FYE Feb 2022	272	−18.3%	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	455	n/a	Cons. · Japanese GAAP
FYE Feb 2026	110	−75.8%	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 ¥18bn

CAGR · 10 yrs +21.5%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Feb 2017	3.1	n/a	Cons. · Japanese GAAP
FYE Feb 2018	2.5	−19.0%	Cons. · Japanese GAAP
FYE Feb 2019	4.8	+91.2%	Cons. · Japanese GAAP
FYE Feb 2020	7.0	+47.6%	Cons. · Japanese GAAP
FYE Feb 2021	0.3	−96.2%	Cons. · Japanese GAAP
FYE Feb 2022	4.0	+1381.9%	Cons. · Japanese GAAP
FYE Feb 2023	10.0	+148.8%	Cons. · Japanese GAAP
FYE Feb 2024	12.8	+29.0%	Cons. · Japanese GAAP
FYE Feb 2025	11.8	−7.8%	Cons. · Japanese GAAP
FYE Feb 2026	17.7	+49.5%	Cons. · Japanese GAAP

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

Gross margin

FYE Feb 2026 56.7%

Average · 10 yrs 55.7%

Fiscal year	Gross margin %	YoY	Basis
FYE Feb 2017	56.1	n/a	Cons. · Japanese GAAP
FYE Feb 2018	55.8	−0.3pp	Cons. · Japanese GAAP
FYE Feb 2019	55.7	−0.1pp	Cons. · Japanese GAAP
FYE Feb 2020	56.3	+0.6pp	Cons. · Japanese GAAP
FYE Feb 2021	54.6	−1.7pp	Cons. · Japanese GAAP
FYE Feb 2022	55.4	+0.8pp	Cons. · Japanese GAAP
FYE Feb 2023	54.9	−0.5pp	Cons. · Japanese GAAP
FYE Feb 2024	55.2	+0.3pp	Cons. · Japanese GAAP
FYE Feb 2025	55.9	+0.7pp	Cons. · Japanese GAAP
FYE Feb 2026	56.7	+0.7pp	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 11.6%

Average · 10 yrs 7.3%

Fiscal year	Operating margin %	YoY	Basis
FYE Feb 2017	5.3	n/a	Cons. · Japanese GAAP
FYE Feb 2018	5.7	+0.4pp	Cons. · Japanese GAAP
FYE Feb 2019	6.1	+0.4pp	Cons. · Japanese GAAP
FYE Feb 2020	6.9	+0.8pp	Cons. · Japanese GAAP
FYE Feb 2021	1.3	−5.6pp	Cons. · Japanese GAAP
FYE Feb 2022	5.6	+4.3pp	Cons. · Japanese GAAP
FYE Feb 2023	9.6	+4.0pp	Cons. · Japanese GAAP
FYE Feb 2024	9.7	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2025	11.4	+1.7pp	Cons. · Japanese GAAP
FYE Feb 2026	11.6	+0.2pp	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 11.6%

Average · 10 yrs 7.3%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Feb 2017	5.2	n/a	Cons. · Japanese GAAP
FYE Feb 2018	5.7	+0.5pp	Cons. · Japanese GAAP
FYE Feb 2019	6.0	+0.3pp	Cons. · Japanese GAAP
FYE Feb 2020	6.9	+0.9pp	Cons. · Japanese GAAP
FYE Feb 2021	1.0	−6.0pp	Cons. · Japanese GAAP
FYE Feb 2022	5.7	+4.7pp	Cons. · Japanese GAAP
FYE Feb 2023	9.8	+4.1pp	Cons. · Japanese GAAP
FYE Feb 2024	9.8	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2025	11.5	+1.7pp	Cons. · Japanese GAAP
FYE Feb 2026	11.6	−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 Feb 2026 7.5%

Average · 10 yrs 4.3%

Fiscal year	Net margin %	YoY	Basis
FYE Feb 2017	2.6	n/a	Cons. · Japanese GAAP
FYE Feb 2018	2.0	−0.6pp	Cons. · Japanese GAAP
FYE Feb 2019	3.6	+1.6pp	Cons. · Japanese GAAP
FYE Feb 2020	5.3	+1.7pp	Cons. · Japanese GAAP
FYE Feb 2021	0.2	−5.1pp	Cons. · Japanese GAAP
FYE Feb 2022	3.0	+2.7pp	Cons. · Japanese GAAP
FYE Feb 2023	6.1	+3.1pp	Cons. · Japanese GAAP
FYE Feb 2024	6.7	+0.6pp	Cons. · Japanese GAAP
FYE Feb 2025	5.7	−1.0pp	Cons. · Japanese GAAP
FYE Feb 2026	7.5	+1.8pp	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 43.3%

Average · 10 yrs 44.3%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Feb 2017	43.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	44.2	+0.3pp	Cons. · Japanese GAAP
FYE Feb 2019	44.3	+0.1pp	Cons. · Japanese GAAP
FYE Feb 2020	43.7	−0.6pp	Cons. · Japanese GAAP
FYE Feb 2021	45.4	+1.7pp	Cons. · Japanese GAAP
FYE Feb 2022	44.6	−0.8pp	Cons. · Japanese GAAP
FYE Feb 2023	45.1	+0.5pp	Cons. · Japanese GAAP
FYE Feb 2024	44.8	−0.3pp	Cons. · Japanese GAAP
FYE Feb 2025	44.1	−0.7pp	Cons. · Japanese GAAP
FYE Feb 2026	43.3	−0.7pp	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 45.1%

Average · 10 yrs 48.3%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Feb 2017	50.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	50.1	−0.7pp	Cons. · Japanese GAAP
FYE Feb 2019	49.6	−0.4pp	Cons. · Japanese GAAP
FYE Feb 2020	49.4	−0.2pp	Cons. · Japanese GAAP
FYE Feb 2021	53.3	+3.9pp	Cons. · Japanese GAAP
FYE Feb 2022	49.8	−3.5pp	Cons. · Japanese GAAP
FYE Feb 2023	45.2	−4.5pp	Cons. · Japanese GAAP
FYE Feb 2024	45.5	+0.3pp	Cons. · Japanese GAAP
FYE Feb 2025	44.6	−1.0pp	Cons. · Japanese GAAP
FYE Feb 2026	45.1	+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 Feb 2026 ¥164bn

CAGR · 10 yrs +8.8%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Feb 2017	77.1	n/a	Cons. · Japanese GAAP
FYE Feb 2018	82.9	+7.5%	Cons. · Japanese GAAP
FYE Feb 2019	87.7	+5.8%	Cons. · Japanese GAAP
FYE Feb 2020	95.0	+8.2%	Cons. · Japanese GAAP
FYE Feb 2021	108	+13.9%	Cons. · Japanese GAAP
FYE Feb 2022	93.7	−13.4%	Cons. · Japanese GAAP
FYE Feb 2023	113	+20.0%	Cons. · Japanese GAAP
FYE Feb 2024	127	+12.8%	Cons. · Japanese GAAP
FYE Feb 2025	148	+16.6%	Cons. · Japanese GAAP
FYE Feb 2026	164	+11.2%	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 ¥84bn

CAGR · 10 yrs +9.3%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Feb 2017	37.6	n/a	Cons. · Japanese GAAP
FYE Feb 2018	38.5	+2.4%	Cons. · Japanese GAAP
FYE Feb 2019	41.6	+8.2%	Cons. · Japanese GAAP
FYE Feb 2020	46.6	+12.0%	Cons. · Japanese GAAP
FYE Feb 2021	44.4	−4.9%	Cons. · Japanese GAAP
FYE Feb 2022	47.3	+6.7%	Cons. · Japanese GAAP
FYE Feb 2023	55.2	+16.6%	Cons. · Japanese GAAP
FYE Feb 2024	63.4	+15.0%	Cons. · Japanese GAAP
FYE Feb 2025	70.9	+11.7%	Cons. · Japanese GAAP
FYE Feb 2026	83.5	+17.9%	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 Feb 2026 ¥12bn

CAGR · 10 yrs +2.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Feb 2017	10.1	n/a	Cons. · Japanese GAAP
FYE Feb 2018	14.5	+43.9%	Cons. · Japanese GAAP
FYE Feb 2019	12.3	−14.9%	Cons. · Japanese GAAP
FYE Feb 2020	10.3	−16.4%	Cons. · Japanese GAAP
FYE Feb 2021	22.8	+120.8%	Cons. · Japanese GAAP
FYE Feb 2022	6.0	−73.5%	Cons. · Japanese GAAP
FYE Feb 2023	8.4	+38.5%	Cons. · Japanese GAAP
FYE Feb 2024	11.2	+34.0%	Cons. · Japanese GAAP
FYE Feb 2025	13.0	+15.8%	Cons. · Japanese GAAP
FYE Feb 2026	12.2	−6.1%	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 ¥0.8bn

CAGR · 10 yrs −14.5%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Feb 2017	3.3	n/a	Cons. · Japanese GAAP
FYE Feb 2018	4.6	+40.9%	Cons. · Japanese GAAP
FYE Feb 2019	3.7	−21.2%	Cons. · Japanese GAAP
FYE Feb 2020	1.8	−50.8%	Cons. · Japanese GAAP
FYE Feb 2021	15.0	+736.1%	Cons. · Japanese GAAP
FYE Feb 2022	0.3	−98.3%	Cons. · Japanese GAAP
FYE Feb 2023	0.3	−0.0%	Cons. · Japanese GAAP
FYE Feb 2024	0.3	−0.0%	Cons. · Japanese GAAP
FYE Feb 2025	0.8	+220.0%	Cons. · Japanese GAAP
FYE Feb 2026	0.8	−0.0%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Feb 2026 ¥11bn

CAGR · 10 yrs +5.9%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Feb 2017	6.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	9.9	+45.3%	Cons. · Japanese GAAP
FYE Feb 2019	8.7	−11.9%	Cons. · Japanese GAAP
FYE Feb 2020	8.5	−2.0%	Cons. · Japanese GAAP
FYE Feb 2021	7.8	−8.8%	Cons. · Japanese GAAP
FYE Feb 2022	5.8	−25.4%	Cons. · Japanese GAAP
FYE Feb 2023	8.1	+40.1%	Cons. · Japanese GAAP
FYE Feb 2024	11.0	+35.0%	Cons. · Japanese GAAP
FYE Feb 2025	12.2	+11.1%	Cons. · Japanese GAAP
FYE Feb 2026	11.4	−6.5%	Cons. · Japanese GAAP

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

Intangible assets

FYE Feb 2026 ¥739m

CAGR · 10 yrs +7.1%

Fiscal year	Intangible assets ¥ m	YoY	Basis
FYE Feb 2017	398	n/a	Cons. · Japanese GAAP
FYE Feb 2018	637	+60.1%	Cons. · Japanese GAAP
FYE Feb 2019	808	+26.8%	Cons. · Japanese GAAP
FYE Feb 2020	690	−14.6%	Cons. · Japanese GAAP
FYE Feb 2021	549	−20.4%	Cons. · Japanese GAAP
FYE Feb 2022	467	−14.9%	Cons. · Japanese GAAP
FYE Feb 2023	333	−28.7%	Cons. · Japanese GAAP
FYE Feb 2024	393	+18.0%	Cons. · Japanese GAAP
FYE Feb 2025	816	+107.6%	Cons. · Japanese GAAP
FYE Feb 2026	739	−9.4%	Cons. · Japanese GAAP

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

Equity ratio

FYE Feb 2026 50.8%

Average · 10 yrs 48.1%

Fiscal year	Equity ratio %	YoY	Basis
FYE Feb 2017	48.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	46.4	−2.3pp	Cons. · Japanese GAAP
FYE Feb 2019	47.5	+1.0pp	Cons. · Japanese GAAP
FYE Feb 2020	49.1	+1.6pp	Cons. · Japanese GAAP
FYE Feb 2021	41.0	−8.1pp	Cons. · Japanese GAAP
FYE Feb 2022	50.5	+9.5pp	Cons. · Japanese GAAP
FYE Feb 2023	49.0	−1.4pp	Cons. · Japanese GAAP
FYE Feb 2024	50.0	+0.9pp	Cons. · Japanese GAAP
FYE Feb 2025	47.9	−2.1pp	Cons. · Japanese GAAP
FYE Feb 2026	50.8	+2.9pp	Cons. · Japanese GAAP

Definition: How much of the balance sheet is funded without debt
Formula: Equity ÷ total assets
Source: Securities report (XBRL)

Debt-to-equity ratio D/E ratio

FYE Feb 2026 14.6%

Average · 10 yrs 24.6%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Feb 2017	26.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	37.7	+10.9pp	Cons. · Japanese GAAP
FYE Feb 2019	29.6	−8.0pp	Cons. · Japanese GAAP
FYE Feb 2020	22.1	−7.5pp	Cons. · Japanese GAAP
FYE Feb 2021	51.3	+29.2pp	Cons. · Japanese GAAP
FYE Feb 2022	12.8	−38.6pp	Cons. · Japanese GAAP
FYE Feb 2023	15.2	+2.4pp	Cons. · Japanese GAAP
FYE Feb 2024	17.7	+2.5pp	Cons. · Japanese GAAP
FYE Feb 2025	18.3	+0.6pp	Cons. · Japanese GAAP
FYE Feb 2026	14.6	−3.7pp	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 Feb 2026 21.2%

Average · 10 yrs 12.6%

Fiscal year	ROE %	YoY	Basis
FYE Feb 2017	8.2	n/a	Cons. · Japanese GAAP
FYE Feb 2018	6.5	−1.7pp	Cons. · Japanese GAAP
FYE Feb 2019	11.4	+5.0pp	Cons. · Japanese GAAP
FYE Feb 2020	15.1	+3.6pp	Cons. · Japanese GAAP
FYE Feb 2021	0.6	−14.5pp	Cons. · Japanese GAAP
FYE Feb 2022	8.5	+7.8pp	Cons. · Japanese GAAP
FYE Feb 2023	18.0	+9.6pp	Cons. · Japanese GAAP
FYE Feb 2024	20.2	+2.2pp	Cons. · Japanese GAAP
FYE Feb 2025	16.7	−3.5pp	Cons. · Japanese GAAP
FYE Feb 2026	21.2	+4.5pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Feb 2026 10.8%

Average · 10 yrs 6.2%

Fiscal year	ROA %	YoY	Basis
FYE Feb 2017	4.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	3.0	−1.0pp	Cons. · Japanese GAAP
FYE Feb 2019	5.4	+2.4pp	Cons. · Japanese GAAP
FYE Feb 2020	7.4	+2.0pp	Cons. · Japanese GAAP
FYE Feb 2021	0.2	−7.2pp	Cons. · Japanese GAAP
FYE Feb 2022	4.3	+4.0pp	Cons. · Japanese GAAP
FYE Feb 2023	8.8	+4.6pp	Cons. · Japanese GAAP
FYE Feb 2024	10.1	+1.3pp	Cons. · Japanese GAAP
FYE Feb 2025	8.0	−2.1pp	Cons. · Japanese GAAP
FYE Feb 2026	10.8	+2.8pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Feb 2026 1.43×

CAGR · 10 yrs −0.6%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Feb 2017	1.51	n/a	Cons. · Japanese GAAP
FYE Feb 2018	1.49	−1.6%	Cons. · Japanese GAAP
FYE Feb 2019	1.49	−0.0%	Cons. · Japanese GAAP
FYE Feb 2020	1.39	−6.4%	Cons. · Japanese GAAP
FYE Feb 2021	1.00	−27.9%	Cons. · Japanese GAAP
FYE Feb 2022	1.43	+42.7%	Cons. · Japanese GAAP
FYE Feb 2023	1.46	+2.1%	Cons. · Japanese GAAP
FYE Feb 2024	1.52	+3.8%	Cons. · Japanese GAAP
FYE Feb 2025	1.40	−7.4%	Cons. · Japanese GAAP
FYE Feb 2026	1.43	+1.6%	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 +17.1%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Feb 2017	5.2	n/a	Cons. · Japanese GAAP
FYE Feb 2018	5.2	+1.5%	Cons. · Japanese GAAP
FYE Feb 2019	10.4	+98.2%	Cons. · Japanese GAAP
FYE Feb 2020	14.7	+41.7%	Cons. · Japanese GAAP
FYE Feb 2021	1.5	−90.1%	Cons. · Japanese GAAP
FYE Feb 2022	8.0	+449.7%	Cons. · Japanese GAAP
FYE Feb 2023	17.0	+113.7%	Cons. · Japanese GAAP
FYE Feb 2024	13.5	−21.0%	Cons. · Japanese GAAP
FYE Feb 2025	22.0	+63.7%	Cons. · Japanese GAAP
FYE Feb 2026	21.3	−3.2%	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 -¥4.2bn

Average · 10 yrs -¥2.0bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Feb 2017	-1.5	n/a	Cons. · Japanese GAAP
FYE Feb 2018	-1.7	n/a	Cons. · Japanese GAAP
FYE Feb 2019	-1.2	n/a	Cons. · Japanese GAAP
FYE Feb 2020	-3.5	n/a	Cons. · Japanese GAAP
FYE Feb 2021	-1.2	n/a	Cons. · Japanese GAAP
FYE Feb 2022	-0.7	n/a	Cons. · Japanese GAAP
FYE Feb 2023	-2.6	n/a	Cons. · Japanese GAAP
FYE Feb 2024	-4.4	n/a	Cons. · Japanese GAAP
FYE Feb 2025	0.8	n/a	Cons. · Japanese GAAP
FYE Feb 2026	-4.2	−632.2%	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 -¥6.6bn

Average · 10 yrs -¥3.7bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Feb 2017	-2.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	1.3	n/a	Cons. · Japanese GAAP
FYE Feb 2019	-4.3	−424.6%	Cons. · Japanese GAAP
FYE Feb 2020	-4.1	n/a	Cons. · Japanese GAAP
FYE Feb 2021	10.1	n/a	Cons. · Japanese GAAP
FYE Feb 2022	-18.1	−279.5%	Cons. · Japanese GAAP
FYE Feb 2023	-2.8	n/a	Cons. · Japanese GAAP
FYE Feb 2024	-5.7	n/a	Cons. · Japanese GAAP
FYE Feb 2025	-4.4	n/a	Cons. · Japanese GAAP
FYE Feb 2026	-6.6	n/a	Cons. · Japanese GAAP

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

Cash and equivalents

FYE Feb 2026 ¥96bn

CAGR · 10 yrs +11.6%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Feb 2017	36.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	40.7	+13.3%	Cons. · Japanese GAAP
FYE Feb 2019	45.6	+12.0%	Cons. · Japanese GAAP
FYE Feb 2020	52.7	+15.5%	Cons. · Japanese GAAP
FYE Feb 2021	63.1	+19.7%	Cons. · Japanese GAAP
FYE Feb 2022	52.3	−17.2%	Cons. · Japanese GAAP
FYE Feb 2023	63.8	+22.2%	Cons. · Japanese GAAP
FYE Feb 2024	67.2	+5.3%	Cons. · Japanese GAAP
FYE Feb 2025	85.7	+27.5%	Cons. · Japanese GAAP
FYE Feb 2026	96.3	+12.3%	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 Feb 2026 ¥17bn

CAGR · 10 yrs +18.8%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Feb 2017	3.6	n/a	Cons. · Japanese GAAP
FYE Feb 2018	3.5	−3.0%	Cons. · Japanese GAAP
FYE Feb 2019	9.2	+161.3%	Cons. · Japanese GAAP
FYE Feb 2020	11.2	+21.4%	Cons. · Japanese GAAP
FYE Feb 2021	0.3	−97.7%	Cons. · Japanese GAAP
FYE Feb 2022	7.3	+2682.8%	Cons. · Japanese GAAP
FYE Feb 2023	14.4	+97.9%	Cons. · Japanese GAAP
FYE Feb 2024	9.1	−37.2%	Cons. · Japanese GAAP
FYE Feb 2025	22.8	+152.1%	Cons. · Japanese GAAP
FYE Feb 2026	17.1	−25.0%	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 9.1%

Average · 10 yrs 7.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Feb 2017	4.4	n/a	Cons. · Japanese GAAP
FYE Feb 2018	4.2	−0.2pp	Cons. · Japanese GAAP
FYE Feb 2019	8.0	+3.7pp	Cons. · Japanese GAAP
FYE Feb 2020	11.1	+3.2pp	Cons. · Japanese GAAP
FYE Feb 2021	1.3	−9.8pp	Cons. · Japanese GAAP
FYE Feb 2022	5.9	+4.6pp	Cons. · Japanese GAAP
FYE Feb 2023	10.4	+4.4pp	Cons. · Japanese GAAP
FYE Feb 2024	7.0	−3.4pp	Cons. · Japanese GAAP
FYE Feb 2025	10.6	+3.6pp	Cons. · Japanese GAAP
FYE Feb 2026	9.1	−1.5pp	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 ¥84bn

CAGR · 10 yrs +14.0%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Feb 2017	25.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	26.2	+1.4%	Cons. · Japanese GAAP
FYE Feb 2019	33.3	+26.9%	Cons. · Japanese GAAP
FYE Feb 2020	42.4	+27.4%	Cons. · Japanese GAAP
FYE Feb 2021	40.3	−4.9%	Cons. · Japanese GAAP
FYE Feb 2022	46.2	+14.6%	Cons. · Japanese GAAP
FYE Feb 2023	55.5	+20.1%	Cons. · Japanese GAAP
FYE Feb 2024	56.0	+1.0%	Cons. · Japanese GAAP
FYE Feb 2025	72.7	+29.8%	Cons. · Japanese GAAP
FYE Feb 2026	84.1	+15.6%	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 ¥306bn

Change · 10 yrs +¥243bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Feb 2017	63.3	n/a
FYE Feb 2018	69.9	n/a
FYE Feb 2019	73.1	n/a
FYE Feb 2020	67.3	n/a
FYE Feb 2021	75.1	n/a
FYE Feb 2022	73.8	n/a
FYE Feb 2023	129	n/a
FYE Feb 2024	210	n/a
FYE Feb 2025	285	n/a
FYE Feb 2026	306	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 1,653¥

Change · 10 yrs −1,084¥

Fiscal year	Share price ¥	Basis
FYE Feb 2017	2,736	n/a
FYE Feb 2018	3,021	n/a
FYE Feb 2019	3,159	n/a
FYE Feb 2020	2,907	n/a
FYE Feb 2021	1,623	n/a
FYE Feb 2022	1,594	n/a
FYE Feb 2023	2,788	n/a
FYE Feb 2024	2,268	n/a
FYE Feb 2025	3,084	n/a
FYE Feb 2026	1,653	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 185,088,000shares

Change · 10 yrs +161,952,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Feb 2017	23,136,000	Parent
FYE Feb 2018	23,136,000	Parent
FYE Feb 2019	23,136,000	Parent
FYE Feb 2020	23,136,000	Parent
FYE Feb 2021	46,272,000	Parent
FYE Feb 2022	46,272,000	Parent
FYE Feb 2023	46,272,000	Parent
FYE Feb 2024	92,544,000	Parent
FYE Feb 2025	92,544,000	Parent
FYE Feb 2026	185,088,000	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 102.01¥

Change · 10 yrs −37.59¥

Fiscal year	EPS ¥	Basis
FYE Feb 2017	139.60	Cons.
FYE Feb 2018	113.16	Cons.
FYE Feb 2019	108.20	Cons.
FYE Feb 2020	159.74	Cons.
FYE Feb 2021	6.16	Cons.
FYE Feb 2022	91.10	Cons.
FYE Feb 2023	113.32	Cons.
FYE Feb 2024	147.30	Cons.
FYE Feb 2025	68.23	Cons.
FYE Feb 2026	102.01	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 451.40¥

Change · 10 yrs −1,173.34¥

Fiscal year	BPS ¥	Basis
FYE Feb 2017	1,624.74	Cons. · Japanese GAAP
FYE Feb 2018	1,662.99	Cons. · Japanese GAAP
FYE Feb 2019	1,799.75	Cons. · Japanese GAAP
FYE Feb 2020	2,015.34	Cons. · Japanese GAAP
FYE Feb 2021	958.48	Cons. · Japanese GAAP
FYE Feb 2022	1,022.84	Cons. · Japanese GAAP
FYE Feb 2023	1,192.58	Cons. · Japanese GAAP
FYE Feb 2024	685.55	Cons. · Japanese GAAP
FYE Feb 2025	766.05	Cons. · Japanese GAAP
FYE Feb 2026	451.40	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Feb 2026 16.20×

Average · 10 yrs 41.75×

Fiscal year	PER ×	Basis
FYE Feb 2017	19.60	Cons.
FYE Feb 2018	26.70	Cons.
FYE Feb 2019	14.60	Cons.
FYE Feb 2020	9.10	Cons.
FYE Feb 2021	263.50	Cons.
FYE Feb 2022	17.50	Cons.
FYE Feb 2023	12.30	Cons.
FYE Feb 2024	15.40	Cons.
FYE Feb 2025	22.60	Cons.
FYE Feb 2026	16.20	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 Feb 2026 3.43×

Average · 10 yrs 2.20×

Fiscal year	PBR ×	Basis
FYE Feb 2017	1.60	Cons.
FYE Feb 2018	1.73	Cons.
FYE Feb 2019	1.67	Cons.
FYE Feb 2020	1.37	Cons.
FYE Feb 2021	1.61	Cons.
FYE Feb 2022	1.48	Cons.
FYE Feb 2023	2.22	Cons.
FYE Feb 2024	3.10	Cons.
FYE Feb 2025	3.78	Cons.
FYE Feb 2026	3.43	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 4,441people

Change · 10 yrs +1,307 people

Fiscal year	Group employees people	YoY	Basis
FYE Feb 2017	3,134	n/a	Cons.
FYE Feb 2018	3,345	+6.7%	Cons.
FYE Feb 2019	3,349	+0.1%	Cons.
FYE Feb 2020	3,418	+2.1%	Cons.
FYE Feb 2021	3,608	+5.6%	Cons.
FYE Feb 2022	3,632	+0.7%	Cons.
FYE Feb 2023	3,591	−1.1%	Cons.
FYE Feb 2024	3,804	+5.9%	Cons.
FYE Feb 2025	4,279	+12.5%	Cons.
FYE Feb 2026	4,441	+3.8%	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 59people

Change · 10 yrs +6 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Feb 2017	53	n/a	Parent
FYE Feb 2018	66	+24.5%	Parent
FYE Feb 2019	62	−6.1%	Parent
FYE Feb 2020	41	−33.9%	Parent
FYE Feb 2021	61	+48.8%	Parent
FYE Feb 2022	66	+8.2%	Parent
FYE Feb 2023	66	−0.0%	Parent
FYE Feb 2024	65	−1.5%	Parent
FYE Feb 2025	74	+13.8%	Parent
FYE Feb 2026	59	−20.3%	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 1,283万円

Change · 7 yrs +800万円

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	484	n/a	Parent
FYE Feb 2021	413	−14.7%	Parent
FYE Feb 2022	537	+30.0%	Parent
FYE Feb 2023	674	+25.6%	Parent
FYE Feb 2024	712	+5.5%	Parent
FYE Feb 2025	867	+21.9%	Parent
FYE Feb 2026	1,283	+48.0%	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 Feb 2026 45.4years

Change · 7 yrs −0.9 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	46.3	n/a	Parent
FYE Feb 2021	43.4	−6.3%	Parent
FYE Feb 2022	45.3	+4.4%	Parent
FYE Feb 2023	46.2	+2.0%	Parent
FYE Feb 2024	45.0	−2.6%	Parent
FYE Feb 2025	46.0	+2.2%	Parent
FYE Feb 2026	45.4	−1.3%	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 9.0years

Change · 7 yrs +0.4 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	8.6	n/a	Parent
FYE Feb 2021	9.8	+14.0%	Parent
FYE Feb 2022	10.0	+2.0%	Parent
FYE Feb 2023	10.3	+3.0%	Parent
FYE Feb 2024	9.9	−3.9%	Parent
FYE Feb 2025	9.6	−3.0%	Parent
FYE Feb 2026	9.0	−6.2%	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 Feb 2026 3,336people

Change · 10 yrs +727 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Feb 2017	2,609	n/a	n/a
FYE Feb 2018	2,714	+4.0%	n/a
FYE Feb 2019	2,439	−10.1%	n/a
FYE Feb 2020	2,291	−6.1%	n/a
FYE Feb 2021	2,282	−0.4%	n/a
FYE Feb 2022	2,428	+6.4%	n/a
FYE Feb 2023	2,785	+14.7%	n/a
FYE Feb 2024	3,304	+18.6%	n/a
FYE Feb 2025	3,113	−5.8%	n/a
FYE Feb 2026	3,336	+7.2%	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 Feb 2026 ¥52.8m

Change · 10 yrs +¥15.7m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Feb 2017	37.2	n/a	Cons.
FYE Feb 2018	36.8	−0.9%	Cons.
FYE Feb 2019	39.0	+5.7%	Cons.
FYE Feb 2020	38.7	−0.8%	Cons.
FYE Feb 2021	30.1	−22.2%	Cons.
FYE Feb 2022	36.9	+22.8%	Cons.
FYE Feb 2023	45.8	+24.0%	Cons.
FYE Feb 2024	50.6	+10.5%	Cons.
FYE Feb 2025	48.6	−4.0%	Cons.
FYE Feb 2026	52.8	+8.8%	Cons.

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

Operating profit per employee

FYE Feb 2026 ¥6.1m

Change · 10 yrs +¥4.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Feb 2017	2.0	n/a	Cons.
FYE Feb 2018	2.1	+7.0%	Cons.
FYE Feb 2019	2.4	+12.5%	Cons.
FYE Feb 2020	2.7	+12.0%	Cons.
FYE Feb 2021	0.4	−85.6%	Cons.
FYE Feb 2022	2.1	+440.2%	Cons.
FYE Feb 2023	4.4	+112.8%	Cons.
FYE Feb 2024	4.9	+11.0%	Cons.
FYE Feb 2025	5.5	+13.0%	Cons.
FYE Feb 2026	6.1	+10.6%	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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