Financials

Matsukiyococokara & Co.: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥1.12tnYoY +5.3%

FYE Mar 2026 · Operating profit¥85bnYoY +3.5%

FYE Mar 2026 · Net profit¥56bnYoY +2.0%

FYE Mar 2026 · Equity ratio71.9%YoY −1.2pp

FYE Mar 2026 · Group employees14,293YoY +1,540

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥535bn	n/a	¥28bn	n/a	5.3%	¥20bn	Matsumoto Kiyoo	—
FYE Mar 2018Consolidated	¥559bn	+4.4%	¥34bn	+18.1%	6.0%	¥23bn	Matsumoto Kiyoo	—
FYE Mar 2019Consolidated	¥576bn	+3.1%	¥36bn	+7.3%	6.3%	¥25bn	Matsumoto Kiyoo	—
FYE Mar 2020Consolidated	¥591bn	+2.5%	¥38bn	+4.3%	6.4%	¥26bn	Matsumoto Kiyoo	—
FYE Mar 2021Consolidated	¥545bn	−7.8%	¥32bn	−15.9%	5.8%	¥22bn	Matsumoto Kiyoo	Basic agreement with Cocokara Fine, beating Sugi Holdings
FYE Mar 2022Consolidated	¥730bn	+34.0%	¥41bn	+30.1%	5.6%	¥34bn	Matsumoto Kiyoo	Share exchange completed; renamed Matsukiyococokara & Co.
FYE Mar 2023Consolidated	¥951bn	+30.3%	¥62bn	+51.6%	6.5%	¥41bn	Matsumoto Kiyoo	—
FYE Mar 2024Consolidated	¥1.02tn	+7.5%	¥76bn	+21.6%	7.4%	¥52bn	Matsumoto Kiyoo	Sales pass a trillion yen
FYE Mar 2025Consolidated	¥1.06tn	+3.8%	¥82bn	+8.4%	7.7%	¥55bn	Matsumoto Kiyoo	AppBrew (LIPS) acquired; regional roll-up resumes
FYE Mar 2026Consolidated	¥1.12tn	+5.3%	¥85bn	+3.5%	7.6%	¥56bn	Matsumoto Kiyoo	—

How it compares

Tsuruha Holdings¥1.45tnFY2025Operating margin 4.3%

Welcia HoldingsDelisted 2025

Matsukiyococokara & Co.¥1.12tnFY2025Operating margin 7.6%

Cosmos Pharmaceutical¥1.10tnFY2026Operating margin 3.9%Sugi Holdings¥1.01tnFY2025Operating margin 4.8%Sundrug¥843bnFY2025Operating margin 5.6%

AIN HOLDINGS INC.¥648bnFY2026Operating margin 4.6%

Kusuri no Aoki Holdings¥567bnFY2026Operating margin 4.8%Create SD Holdings¥497bnFY2026Operating margin 4.8%

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 Mar 2026 ¥1.12tn

CAGR · 10 yrs +8.5%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	535	n/a	Cons. · Japanese GAAP
FYE Mar 2018	559	+4.4%	Cons. · Japanese GAAP
FYE Mar 2019	576	+3.1%	Cons. · Japanese GAAP
FYE Mar 2020	591	+2.5%	Cons. · Japanese GAAP
FYE Mar 2021	545	−7.8%	Cons. · Japanese GAAP
FYE Mar 2022	730	+34.0%	Cons. · Japanese GAAP
FYE Mar 2023	951	+30.3%	Cons. · Japanese GAAP
FYE Mar 2024	1,023	+7.5%	Cons. · Japanese GAAP
FYE Mar 2025	1,062	+3.8%	Cons. · Japanese GAAP
FYE Mar 2026	1,117	+5.3%	Cons. · Japanese GAAP

Definition: Everything the company took in from its own business
Formula: Revenue line of the income statement
Source: Securities report (XBRL)

Cost of sales

FYE Mar 2026 ¥724bn

CAGR · 10 yrs +7.5%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	377	n/a	Cons. · Japanese GAAP
FYE Mar 2018	390	+3.4%	Cons. · Japanese GAAP
FYE Mar 2019	397	+1.8%	Cons. · Japanese GAAP
FYE Mar 2020	401	+1.2%	Cons. · Japanese GAAP
FYE Mar 2021	373	−6.9%	Cons. · Japanese GAAP
FYE Mar 2022	490	+31.2%	Cons. · Japanese GAAP
FYE Mar 2023	622	+26.9%	Cons. · Japanese GAAP
FYE Mar 2024	668	+7.5%	Cons. · Japanese GAAP
FYE Mar 2025	689	+3.1%	Cons. · Japanese GAAP
FYE Mar 2026	724	+5.0%	Cons. · Japanese GAAP

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

Gross profit

FYE Mar 2026 ¥394bn

CAGR · 10 yrs +10.7%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	158	n/a	Cons. · Japanese GAAP
FYE Mar 2018	169	+6.9%	Cons. · Japanese GAAP
FYE Mar 2019	179	+6.1%	Cons. · Japanese GAAP
FYE Mar 2020	189	+5.5%	Cons. · Japanese GAAP
FYE Mar 2021	171	−9.6%	Cons. · Japanese GAAP
FYE Mar 2022	240	+40.1%	Cons. · Japanese GAAP
FYE Mar 2023	329	+37.2%	Cons. · Japanese GAAP
FYE Mar 2024	354	+7.5%	Cons. · Japanese GAAP
FYE Mar 2025	372	+5.1%	Cons. · Japanese GAAP
FYE Mar 2026	394	+5.8%	Cons. · Japanese GAAP

Definition: What the product or service itself earns
Formula: Revenue − cost of sales
Source: Securities report (XBRL)

SG&A selling, general and administrative expenses

FYE Mar 2026 ¥309bn

CAGR · 10 yrs +10.1%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	130	n/a	Cons. · Japanese GAAP
FYE Mar 2018	136	+4.5%	Cons. · Japanese GAAP
FYE Mar 2019	143	+5.8%	Cons. · Japanese GAAP
FYE Mar 2020	152	+5.9%	Cons. · Japanese GAAP
FYE Mar 2021	140	−8.0%	Cons. · Japanese GAAP
FYE Mar 2022	199	+42.4%	Cons. · Japanese GAAP
FYE Mar 2023	267	+34.3%	Cons. · Japanese GAAP
FYE Mar 2024	278	+4.2%	Cons. · Japanese GAAP
FYE Mar 2025	290	+4.2%	Cons. · Japanese GAAP
FYE Mar 2026	309	+6.4%	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 Mar 2026 ¥85bn

CAGR · 10 yrs +12.9%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	28.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.6	+18.1%	Cons. · Japanese GAAP
FYE Mar 2019	36.0	+7.3%	Cons. · Japanese GAAP
FYE Mar 2020	37.6	+4.3%	Cons. · Japanese GAAP
FYE Mar 2021	31.6	−15.9%	Cons. · Japanese GAAP
FYE Mar 2022	41.1	+30.1%	Cons. · Japanese GAAP
FYE Mar 2023	62.3	+51.6%	Cons. · Japanese GAAP
FYE Mar 2024	75.7	+21.6%	Cons. · Japanese GAAP
FYE Mar 2025	82.1	+8.4%	Cons. · Japanese GAAP
FYE Mar 2026	84.9	+3.5%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥5.2bn

CAGR · 10 yrs +8.7%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	2.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.6	+6.7%	Cons. · Japanese GAAP
FYE Mar 2019	3.0	+15.4%	Cons. · Japanese GAAP
FYE Mar 2020	2.5	−16.3%	Cons. · Japanese GAAP
FYE Mar 2021	2.6	+4.9%	Cons. · Japanese GAAP
FYE Mar 2022	3.9	+48.6%	Cons. · Japanese GAAP
FYE Mar 2023	4.8	+22.6%	Cons. · Japanese GAAP
FYE Mar 2024	5.0	+4.1%	Cons. · Japanese GAAP
FYE Mar 2025	4.5	−10.9%	Cons. · Japanese GAAP
FYE Mar 2026	5.2	+15.8%	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 Mar 2026 ¥257m

CAGR · 10 yrs +19.7%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Mar 2017	51.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	54.0	+5.9%	Cons. · Japanese GAAP
FYE Mar 2019	64.0	+18.5%	Cons. · Japanese GAAP
FYE Mar 2020	100	+56.3%	Cons. · Japanese GAAP
FYE Mar 2021	88.0	−12.0%	Cons. · Japanese GAAP
FYE Mar 2022	458	+420.5%	Cons. · Japanese GAAP
FYE Mar 2023	377	−17.7%	Cons. · Japanese GAAP
FYE Mar 2024	226	−40.1%	Cons. · Japanese GAAP
FYE Mar 2025	283	+25.2%	Cons. · Japanese GAAP
FYE Mar 2026	257	−9.2%	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 Mar 2026 ¥90bn

CAGR · 10 yrs +12.6%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	30.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.1	+17.2%	Cons. · Japanese GAAP
FYE Mar 2019	39.0	+7.9%	Cons. · Japanese GAAP
FYE Mar 2020	40.0	+2.6%	Cons. · Japanese GAAP
FYE Mar 2021	34.1	−14.6%	Cons. · Japanese GAAP
FYE Mar 2022	44.6	+30.5%	Cons. · Japanese GAAP
FYE Mar 2023	66.7	+49.7%	Cons. · Japanese GAAP
FYE Mar 2024	80.5	+20.7%	Cons. · Japanese GAAP
FYE Mar 2025	86.3	+7.2%	Cons. · Japanese GAAP
FYE Mar 2026	89.9	+4.2%	Cons. · Japanese GAAP

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

Extraordinary income

FYE Mar 2026 ¥0.6bn

CAGR · 10 yrs +25.9%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	−80.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	+333.3%	Cons. · Japanese GAAP
FYE Mar 2020	0.2	+193.8%	Cons. · Japanese GAAP
FYE Mar 2021	0.6	+199.5%	Cons. · Japanese GAAP
FYE Mar 2022	10.7	+1765.7%	Cons. · Japanese GAAP
FYE Mar 2023	0.7	−93.2%	Cons. · Japanese GAAP
FYE Mar 2024	3.6	+403.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.7	−80.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.6	−13.2%	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥56bn

CAGR · 10 yrs +12.0%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	20.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.8	+13.1%	Cons. · Japanese GAAP
FYE Mar 2019	25.0	+10.0%	Cons. · Japanese GAAP
FYE Mar 2020	26.2	+4.6%	Cons. · Japanese GAAP
FYE Mar 2021	21.6	−17.5%	Cons. · Japanese GAAP
FYE Mar 2022	34.4	+59.1%	Cons. · Japanese GAAP
FYE Mar 2023	40.5	+17.9%	Cons. · Japanese GAAP
FYE Mar 2024	52.3	+29.1%	Cons. · Japanese GAAP
FYE Mar 2025	54.7	+4.4%	Cons. · Japanese GAAP
FYE Mar 2026	55.8	+2.0%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 35.2%

Average · 10 yrs 32.7%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	29.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.3	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	31.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	32.1	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	31.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	32.9	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	34.6	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	34.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	35.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	35.2	+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 Mar 2026 7.6%

Average · 10 yrs 6.5%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	6.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	6.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	5.8	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	5.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	6.5	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	7.4	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	7.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	7.6	−0.1pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Mar 2026 8.0%

Average · 10 yrs 6.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	6.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	6.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	6.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	6.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	7.0	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	7.9	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	8.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	8.0	−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 Mar 2026 5.0%

Average · 10 yrs 4.5%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	3.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	4.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	4.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	4.0	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	4.7	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	4.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	5.1	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	5.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	5.0	−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 Mar 2026 64.8%

Average · 10 yrs 67.3%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	70.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	68.8	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	67.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	68.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	67.1	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	65.4	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	65.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	64.9	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	64.8	−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 Mar 2026 27.6%

Average · 10 yrs 26.2%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	24.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	24.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	25.7	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	25.6	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	27.2	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2023	28.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	27.2	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	27.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	27.6	+0.3pp	Cons. · Japanese GAAP

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

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

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥756bn

CAGR · 10 yrs +11.4%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	286	n/a	Cons. · Japanese GAAP
FYE Mar 2018	314	+10.0%	Cons. · Japanese GAAP
FYE Mar 2019	318	+1.3%	Cons. · Japanese GAAP
FYE Mar 2020	352	+10.5%	Cons. · Japanese GAAP
FYE Mar 2021	369	+4.9%	Cons. · Japanese GAAP
FYE Mar 2022	653	+76.9%	Cons. · Japanese GAAP
FYE Mar 2023	688	+5.5%	Cons. · Japanese GAAP
FYE Mar 2024	725	+5.3%	Cons. · Japanese GAAP
FYE Mar 2025	713	−1.7%	Cons. · Japanese GAAP
FYE Mar 2026	756	+6.0%	Cons. · Japanese GAAP

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

Equity net assets, shareholders' equity

FYE Mar 2026 ¥544bn

CAGR · 10 yrs +12.8%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	184	n/a	Cons. · Japanese GAAP
FYE Mar 2018	205	+11.3%	Cons. · Japanese GAAP
FYE Mar 2019	209	+2.1%	Cons. · Japanese GAAP
FYE Mar 2020	229	+9.6%	Cons. · Japanese GAAP
FYE Mar 2021	246	+7.4%	Cons. · Japanese GAAP
FYE Mar 2022	460	+86.9%	Cons. · Japanese GAAP
FYE Mar 2023	482	+4.9%	Cons. · Japanese GAAP
FYE Mar 2024	515	+6.7%	Cons. · Japanese GAAP
FYE Mar 2025	521	+1.2%	Cons. · Japanese GAAP
FYE Mar 2026	544	+4.4%	Cons. · Japanese GAAP

Definition: The part of the funding that never has to be repaid
Formula: Net assets line of the balance sheet
Source: Securities report (XBRL)

Interest-bearing debt

FYE Mar 2026 ¥1.9bn

Average · 8 yrs ¥9.9bn

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	18.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	18.4	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	19.3	+4.8%	Cons. · Japanese GAAP
FYE Mar 2023	19.4	+0.6%	Cons. · Japanese GAAP
FYE Mar 2024	1.0	−95.0%	Cons. · Japanese GAAP
FYE Mar 2025	1.2	+22.4%	Cons. · Japanese GAAP
FYE Mar 2026	1.9	+58.4%	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Mar 2026 ¥1.9bn

CAGR · 5 yrs +20.8%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	1.0	+12.6%	Cons. · Japanese GAAP
FYE Mar 2024	1.0	−2.5%	Cons. · Japanese GAAP
FYE Mar 2025	1.2	+22.4%	Cons. · Japanese GAAP
FYE Mar 2026	1.9	+58.4%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Mar 2026 n/a

CAGR · 4 yrs −0.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	18.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	18.4	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	18.4	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	18.4	−0.0%	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

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

Intangible assets

FYE Mar 2026 ¥130bn

CAGR · 10 yrs +30.3%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	12.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.0	−8.2%	Cons. · Japanese GAAP
FYE Mar 2019	9.9	−10.0%	Cons. · Japanese GAAP
FYE Mar 2020	9.4	−5.0%	Cons. · Japanese GAAP
FYE Mar 2021	8.9	−5.4%	Cons. · Japanese GAAP
FYE Mar 2022	143	+1512.5%	Cons. · Japanese GAAP
FYE Mar 2023	138	−3.8%	Cons. · Japanese GAAP
FYE Mar 2024	133	−3.4%	Cons. · Japanese GAAP
FYE Mar 2025	128	−3.9%	Cons. · Japanese GAAP
FYE Mar 2026	130	+1.2%	Cons. · Japanese GAAP

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

Goodwill

FYE Mar 2026 ¥98bn

CAGR · 10 yrs +32.5%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.7	−14.6%	Cons. · Japanese GAAP
FYE Mar 2019	5.8	−13.8%	Cons. · Japanese GAAP
FYE Mar 2020	4.9	−15.4%	Cons. · Japanese GAAP
FYE Mar 2021	4.0	−17.3%	Cons. · Japanese GAAP
FYE Mar 2022	119	+2854.7%	Cons. · Japanese GAAP
FYE Mar 2023	113	−5.0%	Cons. · Japanese GAAP
FYE Mar 2024	106	−6.5%	Cons. · Japanese GAAP
FYE Mar 2025	99.3	−6.1%	Cons. · Japanese GAAP
FYE Mar 2026	98.3	−1.0%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 71.9%

Average · 10 yrs 68.4%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	64.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	65.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	65.7	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	65.2	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	66.7	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	70.5	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2023	70.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	71.0	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	73.1	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	71.9	−1.2pp	Cons. · Japanese GAAP

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

Debt-to-equity ratio D/E ratio

FYE Mar 2026 0.3%

Average · 8 yrs 3.1%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	8.0	+8.0pp	Cons. · Japanese GAAP
FYE Mar 2021	7.5	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	4.2	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2023	4.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	0.2	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2025	0.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	0.3	+0.1pp	Cons. · Japanese GAAP

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

ROE return on equity

FYE Mar 2026 10.3%

Average · 10 yrs 10.1%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	10.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	12.0	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	11.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	8.8	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	7.5	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2023	8.4	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	10.2	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	10.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	10.3	−0.2pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 7.4%

Average · 10 yrs 6.9%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	7.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	7.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	5.9	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	5.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	5.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	7.2	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	7.7	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	7.4	−0.3pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 1.48×

CAGR · 10 yrs −2.6%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.87	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.78	−5.0%	Cons. · Japanese GAAP
FYE Mar 2019	1.81	+1.7%	Cons. · Japanese GAAP
FYE Mar 2020	1.68	−7.2%	Cons. · Japanese GAAP
FYE Mar 2021	1.48	−12.0%	Cons. · Japanese GAAP
FYE Mar 2022	1.12	−24.2%	Cons. · Japanese GAAP
FYE Mar 2023	1.38	+23.6%	Cons. · Japanese GAAP
FYE Mar 2024	1.41	+2.1%	Cons. · Japanese GAAP
FYE Mar 2025	1.49	+5.6%	Cons. · Japanese GAAP
FYE Mar 2026	1.48	−0.7%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥73bn

CAGR · 10 yrs +13.3%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	23.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.9	+17.8%	Cons. · Japanese GAAP
FYE Mar 2019	21.9	−21.6%	Cons. · Japanese GAAP
FYE Mar 2020	24.8	+13.1%	Cons. · Japanese GAAP
FYE Mar 2021	25.9	+4.5%	Cons. · Japanese GAAP
FYE Mar 2022	39.8	+53.9%	Cons. · Japanese GAAP
FYE Mar 2023	64.1	+60.9%	Cons. · Japanese GAAP
FYE Mar 2024	63.5	−0.9%	Cons. · Japanese GAAP
FYE Mar 2025	81.5	+28.3%	Cons. · Japanese GAAP
FYE Mar 2026	73.2	−10.2%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Mar 2026 -¥34bn

Average · 10 yrs -¥19bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-7.7	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-48.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-15.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-19.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-22.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-20.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-34.2	n/a	Cons. · Japanese GAAP

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

Financing cash flow

FYE Mar 2026 -¥34bn

Average · 10 yrs -¥20bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-9.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-22.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	9.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-9.4	−203.5%	Cons. · Japanese GAAP
FYE Mar 2022	-20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-23.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-18.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-66.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-34.1	n/a	Cons. · Japanese GAAP

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

Cash and equivalents

FYE Mar 2026 ¥120bn

CAGR · 10 yrs +13.4%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	38.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	51.6	+34.1%	Cons. · Japanese GAAP
FYE Mar 2019	43.3	−16.0%	Cons. · Japanese GAAP
FYE Mar 2020	28.4	−34.6%	Cons. · Japanese GAAP
FYE Mar 2021	38.5	+35.8%	Cons. · Japanese GAAP
FYE Mar 2022	74.5	+93.5%	Cons. · Japanese GAAP
FYE Mar 2023	95.2	+27.8%	Cons. · Japanese GAAP
FYE Mar 2024	118	+23.6%	Cons. · Japanese GAAP
FYE Mar 2025	112	−5.1%	Cons. · Japanese GAAP
FYE Mar 2026	120	+7.1%	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 Mar 2026 ¥39bn

CAGR · 10 yrs +10.2%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	16.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.2	+24.1%	Cons. · Japanese GAAP
FYE Mar 2019	14.0	−30.6%	Cons. · Japanese GAAP
FYE Mar 2020	-24.1	−271.7%	Cons. · Japanese GAAP
FYE Mar 2021	19.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	24.3	+24.3%	Cons. · Japanese GAAP
FYE Mar 2023	44.4	+82.5%	Cons. · Japanese GAAP
FYE Mar 2024	40.7	−8.2%	Cons. · Japanese GAAP
FYE Mar 2025	60.7	+48.9%	Cons. · Japanese GAAP
FYE Mar 2026	39.0	−35.8%	Cons. · Japanese GAAP

Definition: What is left once the business has paid for its own investment
Formula: Operating cash flow + investing cash flow
Source: Securities report (XBRL)

Operating cash flow margin

FYE Mar 2026 6.6%

Average · 10 yrs 5.5%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	4.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.0	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	3.8	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	4.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	4.7	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	5.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	6.7	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2024	6.2	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	7.7	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	6.6	−1.1pp	Cons. · Japanese GAAP

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

Net cash

FYE Mar 2026 ¥118bn

CAGR · 8 yrs +15.4%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	43.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	10.0	−77.0%	Cons. · Japanese GAAP
FYE Mar 2021	20.1	+101.9%	Cons. · Japanese GAAP
FYE Mar 2022	55.2	+174.6%	Cons. · Japanese GAAP
FYE Mar 2023	75.8	+37.3%	Cons. · Japanese GAAP
FYE Mar 2024	117	+54.0%	Cons. · Japanese GAAP
FYE Mar 2025	111	−5.3%	Cons. · Japanese GAAP
FYE Mar 2026	118	+6.5%	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Mar 2026 ¥1.04tn

Change · 10 yrs +¥750bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	289	n/a
FYE Mar 2018	491	n/a
FYE Mar 2019	403	n/a
FYE Mar 2020	429	n/a
FYE Mar 2021	540	n/a
FYE Mar 2022	620	n/a
FYE Mar 2023	1,001	n/a
FYE Mar 2024	1,048	n/a
FYE Mar 2025	974	n/a
FYE Mar 2026	1,039	n/a

Definition: What the market says the company is worth
Formula: Year-end share price × shares outstanding
Source: Securities report (XBRL)

Share price year-end close

FYE Mar 2026 2,533¥

Change · 10 yrs −2,761¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	5,294	n/a
FYE Mar 2018	4,494	n/a
FYE Mar 2019	3,687	n/a
FYE Mar 2020	3,927	n/a
FYE Mar 2021	4,946	n/a
FYE Mar 2022	4,334	n/a
FYE Mar 2023	7,000	n/a
FYE Mar 2024	2,444	n/a
FYE Mar 2025	2,342	n/a
FYE Mar 2026	2,533	n/a

Definition: The closing price on the last day of the fiscal year
Formula: Year-end closing price
Source: Securities report (XBRL)

Shares outstanding

FYE Mar 2026 410,275,000shares

Change · 10 yrs +355,639,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	54,636,000	Parent
FYE Mar 2018	109,272,000	Parent
FYE Mar 2019	109,272,000	Parent
FYE Mar 2020	109,272,000	Parent
FYE Mar 2021	109,272,000	Parent
FYE Mar 2022	142,966,000	Parent
FYE Mar 2023	142,966,000	Parent
FYE Mar 2024	428,900,000	Parent
FYE Mar 2025	415,675,000	Parent
FYE Mar 2026	410,275,000	Parent

Definition: How many shares exist
Formula: Shares issued, from the key figures of the filing
Source: Securities report (XBRL)

EPS earnings per share

FYE Mar 2026 139.94¥

Change · 10 yrs −49.14¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	189.08	Cons.
FYE Mar 2018	215.03	Cons.
FYE Mar 2019	239.42	Cons.
FYE Mar 2020	85.01	Cons.
FYE Mar 2021	70.15	Cons.
FYE Mar 2022	93.81	Cons.
FYE Mar 2023	96.02	Cons.
FYE Mar 2024	125.31	Cons.
FYE Mar 2025	133.85	Cons.
FYE Mar 2026	139.94	Cons.

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

BPS book value per share

FYE Mar 2026 1,324.78¥

Change · 10 yrs −2,044.06¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	3,368.84	Cons. · Japanese GAAP
FYE Mar 2018	1,874.87	Cons. · Japanese GAAP
FYE Mar 2019	1,915.12	Cons. · Japanese GAAP
FYE Mar 2020	2,098.47	Cons. · Japanese GAAP
FYE Mar 2021	2,253.28	Cons. · Japanese GAAP
FYE Mar 2022	3,218.29	Cons. · Japanese GAAP
FYE Mar 2023	3,374.74	Cons. · Japanese GAAP
FYE Mar 2024	1,200.11	Cons. · Japanese GAAP
FYE Mar 2025	1,252.90	Cons. · Japanese GAAP
FYE Mar 2026	1,324.78	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 18.10×

Average · 10 yrs 18.40×

Fiscal year	PER ×	Basis
FYE Mar 2017	14.00	Cons.
FYE Mar 2018	20.90	Cons.
FYE Mar 2019	15.40	Cons.
FYE Mar 2020	15.40	Cons.
FYE Mar 2021	23.50	Cons.
FYE Mar 2022	15.40	Cons.
FYE Mar 2023	24.30	Cons.
FYE Mar 2024	19.50	Cons.
FYE Mar 2025	17.50	Cons.
FYE Mar 2026	18.10	Cons.

Definition: How many years of earnings the price stands for
Formula: Year-end price ÷ EPS
Source: Securities report (XBRL)

PBR price-to-book ratio

FYE Mar 2026 1.85×

Average · 10 yrs 1.85×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.52	Cons.
FYE Mar 2018	2.32	Cons.
FYE Mar 2019	1.81	Cons.
FYE Mar 2020	1.76	Cons.
FYE Mar 2021	2.06	Cons.
FYE Mar 2022	1.33	Cons.
FYE Mar 2023	2.02	Cons.
FYE Mar 2024	1.98	Cons.
FYE Mar 2025	1.82	Cons.
FYE Mar 2026	1.85	Cons.

Definition: The price measured against the book value behind it
Formula: Year-end price ÷ BPS
Source: Securities report (XBRL)

Workforce and productivity Headcount, pay and what each employee accounts for

Group employees

FYE Mar 2026 14,293people

Change · 10 yrs +8,050 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	6,243	n/a	Cons.
FYE Mar 2018	6,249	+0.1%	Cons.
FYE Mar 2019	6,431	+2.9%	Cons.
FYE Mar 2020	6,569	+2.1%	Cons.
FYE Mar 2021	6,692	+1.9%	Cons.
FYE Mar 2022	13,321	+99.1%	Cons.
FYE Mar 2023	13,657	+2.5%	Cons.
FYE Mar 2024	13,371	−2.1%	Cons.
FYE Mar 2025	12,753	−4.6%	Cons.
FYE Mar 2026	14,293	+12.1%	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 Mar 2026 74people

Change · 10 yrs −249 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	323	n/a	Parent
FYE Mar 2018	404	+25.1%	Parent
FYE Mar 2019	426	+5.4%	Parent
FYE Mar 2020	498	+16.9%	Parent
FYE Mar 2021	526	+5.6%	Parent
FYE Mar 2022	72	−86.3%	Parent
FYE Mar 2023	68	−5.6%	Parent
FYE Mar 2024	68	−0.0%	Parent
FYE Mar 2025	74	+8.8%	Parent
FYE Mar 2026	74	−0.0%	Parent

Definition: Employees of the filing company itself
Formula: Parent-only headcount, from the employee section of the filing
Source: Securities report (XBRL)

Average annual pay parent company

FYE Mar 2026 ¥7.5m

Change · 8 yrs +¥0.3m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	7.2	n/a	Parent
FYE Mar 2020	7.0	−2.1%	Parent
FYE Mar 2021	7.1	+1.2%	Parent
FYE Mar 2022	8.3	+17.2%	Parent
FYE Mar 2023	8.5	+1.7%	Parent
FYE Mar 2024	7.6	−10.6%	Parent
FYE Mar 2025	7.3	−4.2%	Parent
FYE Mar 2026	7.5	+2.6%	Parent

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

Average age

FYE Mar 2026 48.3years

Change · 8 yrs +2.7 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	45.6	n/a	Parent
FYE Mar 2020	45.3	−0.7%	Parent
FYE Mar 2021	45.8	+1.1%	Parent
FYE Mar 2022	47.7	+4.1%	Parent
FYE Mar 2023	47.8	+0.2%	Parent
FYE Mar 2024	47.0	−1.7%	Parent
FYE Mar 2025	45.2	−3.8%	Parent
FYE Mar 2026	48.3	+6.9%	Parent

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

Average length of service

FYE Mar 2026 10.7years

Change · 8 yrs −2.7 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	13.4	n/a	Parent
FYE Mar 2020	14.0	+4.5%	Parent
FYE Mar 2021	14.3	+2.1%	Parent
FYE Mar 2022	14.6	+2.1%	Parent
FYE Mar 2023	15.1	+3.4%	Parent
FYE Mar 2024	14.7	−2.6%	Parent
FYE Mar 2025	15.6	+6.1%	Parent
FYE Mar 2026	10.7	−31.4%	Parent

Definition: How long the average employee has been with the company
Formula: Average years of service, from the employee section of the filing
Source: Securities report (XBRL)

Temporary employees

FYE Mar 2026 15,674people

Change · 10 yrs +7,737 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	7,937	n/a	n/a
FYE Mar 2018	7,848	−1.1%	n/a
FYE Mar 2019	8,128	+3.6%	n/a
FYE Mar 2020	8,097	−0.4%	n/a
FYE Mar 2021	7,974	−1.5%	n/a
FYE Mar 2022	14,575	+82.8%	n/a
FYE Mar 2023	14,807	+1.6%	n/a
FYE Mar 2024	15,267	+3.1%	n/a
FYE Mar 2025	14,822	−2.9%	n/a
FYE Mar 2026	15,674	+5.7%	n/a

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

Revenue per employee

FYE Mar 2026 ¥78.2m

Change · 10 yrs −¥7.5m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	85.7	n/a	Cons.
FYE Mar 2018	89.4	+4.3%	Cons.
FYE Mar 2019	89.6	+0.1%	Cons.
FYE Mar 2020	89.9	+0.4%	Cons.
FYE Mar 2021	81.4	−9.5%	Cons.
FYE Mar 2022	54.8	−32.7%	Cons.
FYE Mar 2023	69.7	+27.1%	Cons.
FYE Mar 2024	76.5	+9.8%	Cons.
FYE Mar 2025	83.2	+8.9%	Cons.
FYE Mar 2026	78.2	−6.1%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.9m

Change · 10 yrs +¥1.4m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	4.6	n/a	Cons.
FYE Mar 2018	5.4	+17.9%	Cons.
FYE Mar 2019	5.6	+4.3%	Cons.
FYE Mar 2020	5.7	+2.1%	Cons.
FYE Mar 2021	4.7	−17.5%	Cons.
FYE Mar 2022	3.1	−34.6%	Cons.
FYE Mar 2023	4.6	+47.8%	Cons.
FYE Mar 2024	5.7	+24.2%	Cons.
FYE Mar 2025	6.4	+13.7%	Cons.
FYE Mar 2026	5.9	−7.7%	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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