Financials

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

FYE Dec 2025 · Revenue¥502bnYoY +1.5%

FYE Dec 2025 · Operating profit¥26bnYoY +59.2%

FYE Dec 2025 · Net profit¥14bnYoY +35.4%

FYE Dec 2025 · Equity ratio43.0%YoY +3.4pp

FYE Dec 2025 · Group employees17,811YoY −819

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥527bn	n/a	¥4.9bn	n/a	0.9%	¥3.6bn	Kawata Masaya	JRC takes Nagano and Ueda Japan Radio into full ownership; Nisshin Toa merges with Iwao
FYE Mar 2018Consolidated	¥512bn	−2.9%	¥15bn	+208.5%	2.9%	¥26bn	Kawata Masaya	Paper business transferred to Daio Paper after 110 years
FYE Dec 2018Consolidated	¥416bn	−18.7%	-¥2.5bn	−116.6%	-0.6%	-¥7.2bn	Kawata Masaya	Shares of Ricoh Electronic Devices acquired; JRC Mobility established
FYE Dec 2019Consolidated	¥510bn	+22.4%	¥6.5bn	n/a	1.3%	-¥6.6bn	Kawata Masaya	<a class="en-history_person" href="/tse/3105/executives/ceo/murakami-masahiro/" hreflang="ja">Murakami Masahiro</a> becomes president; NJ Components acquired outright
FYE Dec 2020Consolidated	¥457bn	−10.3%	¥1.2bn	−80.7%	0.3%	¥14bn	Murakami Masahiro	—
FYE Dec 2021Consolidated	¥511bn	+11.7%	¥22bn	+1645.8%	4.3%	¥25bn	Murakami Masahiro	—
FYE Dec 2022Consolidated	¥516bn	+1.1%	¥15bn	−29.2%	3.0%	¥20bn	Murakami Masahiro	New Japan Radio absorbs Ricoh Electronic Devices and becomes Nisshinbo Micro Devices
FYE Dec 2023Consolidated	¥541bn	+4.9%	¥12bn	−19.3%	2.3%	-¥20bn	Murakami Masahiro	Entire share capital of TMD FRICTION GROUP sold after twelve years
FYE Dec 2024Consolidated	¥495bn	−8.6%	¥17bn	+33.1%	3.4%	¥10bn	Murakami Masahiro	Hitachi Kokusai Electric renamed Kokusai Electric
FYE Dec 2025Consolidated	¥502bn	+1.5%	¥26bn	+59.2%	5.3%	¥14bn	Murakami Masahiro	<a class="en-history_person" href="/tse/3105/executives/ceo/ishii-seiji/" hreflang="ja">Ishii Seiji</a> becomes president; Murakami moves to the chairmanship

How it compares

Nisshinbo Holdings¥502bnFY2025Operating margin 5.3%

Toyobo¥422bnFY2025Operating margin 6.6%Seiren¥172bnFY2025Operating margin 12.1%Kurabo Industries¥144bnFY2025Operating margin 6.4%

GUNZE LIMITED¥131bnFY2025Operating margin 3.7%

Nikke (Japan Wool Textile)¥119bnFY2025Operating margin 10.0%Unitika¥119bnFY2025Operating margin 8.9%Nitto Boseki¥118bnFY2025Operating margin 17.6%

Maedakousen¥64bnFY2025Operating margin 18.8%

Fujibo Holdings¥46bnFY2025Operating margin 17.7%

Income statement Revenue, costs, each level of profit and the margins they leave

Where the revenue goes

¥ bn

Cost of sales SG&A Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Dec 2025 ¥502bn

CAGR · 10 yrs −0.5%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	527	n/a	Cons. · Japanese GAAP
FYE Mar 2018	512	−2.9%	Cons. · Japanese GAAP
FYE Dec 2018	416	−18.7%	Cons. · Japanese GAAP
FYE Dec 2019	510	+22.4%	Cons. · Japanese GAAP
FYE Dec 2020	457	−10.3%	Cons. · Japanese GAAP
FYE Dec 2021	511	+11.7%	Cons. · Japanese GAAP
FYE Dec 2022	516	+1.1%	Cons. · Japanese GAAP
FYE Dec 2023	541	+4.9%	Cons. · Japanese GAAP
FYE Dec 2024	495	−8.6%	Cons. · Japanese GAAP
FYE Dec 2025	502	+1.5%	Cons. · Japanese GAAP

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

Cost of sales

FYE Dec 2025 ¥385bn

CAGR · 10 yrs −1.0%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	421	n/a	Cons. · Japanese GAAP
FYE Mar 2018	406	−3.5%	Cons. · Japanese GAAP
FYE Dec 2018	335	−17.5%	Cons. · Japanese GAAP
FYE Dec 2019	409	+22.1%	Cons. · Japanese GAAP
FYE Dec 2020	365	−10.7%	Cons. · Japanese GAAP
FYE Dec 2021	395	+8.1%	Cons. · Japanese GAAP
FYE Dec 2022	401	+1.4%	Cons. · Japanese GAAP
FYE Dec 2023	422	+5.3%	Cons. · Japanese GAAP
FYE Dec 2024	385	−8.6%	Cons. · Japanese GAAP
FYE Dec 2025	385	−0.2%	Cons. · Japanese GAAP

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

Gross profit

FYE Dec 2025 ¥118bn

CAGR · 10 yrs +1.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	107	n/a	Cons. · Japanese GAAP
FYE Mar 2018	106	−0.6%	Cons. · Japanese GAAP
FYE Dec 2018	81.2	−23.4%	Cons. · Japanese GAAP
FYE Dec 2019	101	+24.0%	Cons. · Japanese GAAP
FYE Dec 2020	91.6	−9.0%	Cons. · Japanese GAAP
FYE Dec 2021	115	+26.1%	Cons. · Japanese GAAP
FYE Dec 2022	115	−0.1%	Cons. · Japanese GAAP
FYE Dec 2023	119	+3.5%	Cons. · Japanese GAAP
FYE Dec 2024	109	−8.4%	Cons. · Japanese GAAP
FYE Dec 2025	118	+7.5%	Cons. · Japanese GAAP

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

SG&A selling, general and administrative expenses

FYE Dec 2025 ¥91bn

CAGR · 10 yrs −1.2%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	102	n/a	Cons. · Japanese GAAP
FYE Mar 2018	90.9	−10.7%	Cons. · Japanese GAAP
FYE Dec 2018	83.7	−7.9%	Cons. · Japanese GAAP
FYE Dec 2019	94.2	+12.5%	Cons. · Japanese GAAP
FYE Dec 2020	90.4	−4.0%	Cons. · Japanese GAAP
FYE Dec 2021	93.7	+3.7%	Cons. · Japanese GAAP
FYE Dec 2022	99.9	+6.6%	Cons. · Japanese GAAP
FYE Dec 2023	107	+7.0%	Cons. · Japanese GAAP
FYE Dec 2024	92.8	−13.2%	Cons. · Japanese GAAP
FYE Dec 2025	91.1	−1.7%	Cons. · Japanese GAAP

Definition: The cost of selling and of running the company
Formula: SG&A line of the income statement
Source: Securities report (XBRL)

Operating profit

FYE Dec 2025 ¥26bn

CAGR · 10 yrs +20.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	4.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.1	+208.5%	Cons. · Japanese GAAP
FYE Dec 2018	-2.5	−116.6%	Cons. · Japanese GAAP
FYE Dec 2019	6.5	n/a	Cons. · Japanese GAAP
FYE Dec 2020	1.2	−80.7%	Cons. · Japanese GAAP
FYE Dec 2021	21.8	+1645.8%	Cons. · Japanese GAAP
FYE Dec 2022	15.4	−29.2%	Cons. · Japanese GAAP
FYE Dec 2023	12.5	−19.3%	Cons. · Japanese GAAP
FYE Dec 2024	16.6	+33.1%	Cons. · Japanese GAAP
FYE Dec 2025	26.4	+59.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Dec 2025 ¥7.8bn

CAGR · 10 yrs −2.5%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	9.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.0	−8.0%	Cons. · Japanese GAAP
FYE Dec 2018	7.9	−12.4%	Cons. · Japanese GAAP
FYE Dec 2019	7.9	+1.0%	Cons. · Japanese GAAP
FYE Dec 2020	6.9	−12.6%	Cons. · Japanese GAAP
FYE Dec 2021	8.3	+20.2%	Cons. · Japanese GAAP
FYE Dec 2022	8.9	+6.4%	Cons. · Japanese GAAP
FYE Dec 2023	9.7	+8.9%	Cons. · Japanese GAAP
FYE Dec 2024	11.6	+20.5%	Cons. · Japanese GAAP
FYE Dec 2025	7.8	−33.1%	Cons. · Japanese GAAP

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

Non-operating expenses

FYE Dec 2025 ¥4.9bn

CAGR · 10 yrs +2.0%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	4.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.4	+6.7%	Cons. · Japanese GAAP
FYE Dec 2018	3.8	−13.0%	Cons. · Japanese GAAP
FYE Dec 2019	2.7	−28.2%	Cons. · Japanese GAAP
FYE Dec 2020	4.7	+73.7%	Cons. · Japanese GAAP
FYE Dec 2021	4.8	+1.0%	Cons. · Japanese GAAP
FYE Dec 2022	3.9	−18.0%	Cons. · Japanese GAAP
FYE Dec 2023	6.3	+61.9%	Cons. · Japanese GAAP
FYE Dec 2024	3.8	−39.6%	Cons. · Japanese GAAP
FYE Dec 2025	4.9	+27.1%	Cons. · Japanese GAAP

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

Ordinary profit keijo rieki

FYE Dec 2025 ¥29bn

CAGR · 10 yrs +12.0%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	10.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.7	+86.6%	Cons. · Japanese GAAP
FYE Dec 2018	1.6	−92.1%	Cons. · Japanese GAAP
FYE Dec 2019	11.7	+647.3%	Cons. · Japanese GAAP
FYE Dec 2020	3.5	−70.4%	Cons. · Japanese GAAP
FYE Dec 2021	25.4	+631.6%	Cons. · Japanese GAAP
FYE Dec 2022	20.4	−19.6%	Cons. · Japanese GAAP
FYE Dec 2023	15.8	−22.6%	Cons. · Japanese GAAP
FYE Dec 2024	24.4	+54.6%	Cons. · Japanese GAAP
FYE Dec 2025	29.3	+20.2%	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 Dec 2025 ¥6.9bn

CAGR · 10 yrs +1.4%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	6.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.8	+238.7%	Cons. · Japanese GAAP
FYE Dec 2018	2.0	−90.3%	Cons. · Japanese GAAP
FYE Dec 2019	4.7	+133.1%	Cons. · Japanese GAAP
FYE Dec 2020	22.9	+387.2%	Cons. · Japanese GAAP
FYE Dec 2021	4.3	−81.4%	Cons. · Japanese GAAP
FYE Dec 2022	9.4	+120.6%	Cons. · Japanese GAAP
FYE Dec 2023	2.5	−73.3%	Cons. · Japanese GAAP
FYE Dec 2024	2.9	+14.0%	Cons. · Japanese GAAP
FYE Dec 2025	6.9	+142.9%	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Dec 2025 ¥14bn

CAGR · 10 yrs +16.3%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.4	+637.3%	Cons. · Japanese GAAP
FYE Dec 2018	-7.2	−127.3%	Cons. · Japanese GAAP
FYE Dec 2019	-6.6	n/a	Cons. · Japanese GAAP
FYE Dec 2020	13.5	n/a	Cons. · Japanese GAAP
FYE Dec 2021	24.8	+83.3%	Cons. · Japanese GAAP
FYE Dec 2022	19.7	−20.5%	Cons. · Japanese GAAP
FYE Dec 2023	-20.0	−201.5%	Cons. · Japanese GAAP
FYE Dec 2024	10.3	n/a	Cons. · Japanese GAAP
FYE Dec 2025	13.9	+35.4%	Cons. · Japanese GAAP

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

Gross margin

FYE Dec 2025 23.4%

Average · 10 yrs 21.3%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	20.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.7	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2018	19.5	−1.2pp	Cons. · Japanese GAAP
FYE Dec 2019	19.7	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2020	20.0	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2021	22.6	+2.6pp	Cons. · Japanese GAAP
FYE Dec 2022	22.4	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2023	22.1	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2024	22.1	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2025	23.4	+1.3pp	Cons. · Japanese GAAP

Definition: The share of revenue left after the cost of sales
Formula: Gross profit ÷ revenue
Source: Securities report (XBRL)

Operating margin

FYE Dec 2025 5.3%

Average · 10 yrs 2.3%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.9	+2.0pp	Cons. · Japanese GAAP
FYE Dec 2018	-0.6	−3.5pp	Cons. · Japanese GAAP
FYE Dec 2019	1.3	+1.9pp	Cons. · Japanese GAAP
FYE Dec 2020	0.3	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2021	4.3	+4.0pp	Cons. · Japanese GAAP
FYE Dec 2022	3.0	−1.3pp	Cons. · Japanese GAAP
FYE Dec 2023	2.3	−0.7pp	Cons. · Japanese GAAP
FYE Dec 2024	3.4	+1.1pp	Cons. · Japanese GAAP
FYE Dec 2025	5.3	+1.9pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Dec 2025 5.8%

Average · 10 yrs 3.2%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	2.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.8	+1.8pp	Cons. · Japanese GAAP
FYE Dec 2018	0.4	−3.5pp	Cons. · Japanese GAAP
FYE Dec 2019	2.3	+1.9pp	Cons. · Japanese GAAP
FYE Dec 2020	0.8	−1.5pp	Cons. · Japanese GAAP
FYE Dec 2021	5.0	+4.2pp	Cons. · Japanese GAAP
FYE Dec 2022	4.0	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2023	2.9	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2024	4.9	+2.0pp	Cons. · Japanese GAAP
FYE Dec 2025	5.8	+0.9pp	Cons. · Japanese GAAP

Definition: The share of revenue left at the ordinary-profit line
Formula: Ordinary profit ÷ revenue
Source: Securities report (XBRL)

Net margin

FYE Dec 2025 2.8%

Average · 10 yrs 1.6%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	+4.5pp	Cons. · Japanese GAAP
FYE Dec 2018	-1.7	−6.9pp	Cons. · Japanese GAAP
FYE Dec 2019	-1.3	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2020	3.0	+4.3pp	Cons. · Japanese GAAP
FYE Dec 2021	4.9	+1.9pp	Cons. · Japanese GAAP
FYE Dec 2022	3.8	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2023	-3.7	−7.5pp	Cons. · Japanese GAAP
FYE Dec 2024	2.1	+5.8pp	Cons. · Japanese GAAP
FYE Dec 2025	2.8	+0.7pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Dec 2025 76.6%

Average · 10 yrs 78.7%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	79.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	79.3	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2018	80.5	+1.2pp	Cons. · Japanese GAAP
FYE Dec 2019	80.3	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2020	80.0	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2021	77.4	−2.6pp	Cons. · Japanese GAAP
FYE Dec 2022	77.6	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2023	77.9	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2024	77.9	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2025	76.6	−1.3pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by the cost of sales
Formula: Cost of sales ÷ revenue
Source: Securities report (XBRL)

SG&A ratio

FYE Dec 2025 18.1%

Average · 10 yrs 19.0%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	19.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.8	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2018	20.1	+2.4pp	Cons. · Japanese GAAP
FYE Dec 2019	18.5	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2020	19.8	+1.3pp	Cons. · Japanese GAAP
FYE Dec 2021	18.3	−1.4pp	Cons. · Japanese GAAP
FYE Dec 2022	19.4	+1.0pp	Cons. · Japanese GAAP
FYE Dec 2023	19.8	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2024	18.7	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2025	18.1	−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 Dec 2025 ¥668bn

CAGR · 10 yrs +0.4%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	646	n/a	Cons. · Japanese GAAP
FYE Mar 2018	652	+0.9%	Cons. · Japanese GAAP
FYE Dec 2018	622	−4.5%	Cons. · Japanese GAAP
FYE Dec 2019	618	−0.8%	Cons. · Japanese GAAP
FYE Dec 2020	581	−5.9%	Cons. · Japanese GAAP
FYE Dec 2021	605	+4.1%	Cons. · Japanese GAAP
FYE Dec 2022	616	+1.9%	Cons. · Japanese GAAP
FYE Dec 2023	675	+9.5%	Cons. · Japanese GAAP
FYE Dec 2024	680	+0.8%	Cons. · Japanese GAAP
FYE Dec 2025	668	−1.8%	Cons. · Japanese GAAP

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

Equity net assets, shareholders' equity

FYE Dec 2025 ¥287bn

CAGR · 10 yrs +2.5%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	230	n/a	Cons. · Japanese GAAP
FYE Mar 2018	269	+17.1%	Cons. · Japanese GAAP
FYE Dec 2018	250	−7.1%	Cons. · Japanese GAAP
FYE Dec 2019	238	−4.6%	Cons. · Japanese GAAP
FYE Dec 2020	229	−3.9%	Cons. · Japanese GAAP
FYE Dec 2021	259	+13.2%	Cons. · Japanese GAAP
FYE Dec 2022	264	+1.8%	Cons. · Japanese GAAP
FYE Dec 2023	251	−5.0%	Cons. · Japanese GAAP
FYE Dec 2024	270	+7.6%	Cons. · Japanese GAAP
FYE Dec 2025	287	+6.5%	Cons. · Japanese GAAP

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

Interest-bearing debt

FYE Dec 2025 ¥136bn

CAGR · 10 yrs +1.6%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	118	n/a	Cons. · Japanese GAAP
FYE Mar 2018	110	−6.6%	Cons. · Japanese GAAP
FYE Dec 2018	124	+12.4%	Cons. · Japanese GAAP
FYE Dec 2019	94.2	−24.1%	Cons. · Japanese GAAP
FYE Dec 2020	92.3	−2.0%	Cons. · Japanese GAAP
FYE Dec 2021	95.0	+2.9%	Cons. · Japanese GAAP
FYE Dec 2022	70.2	−26.1%	Cons. · Japanese GAAP
FYE Dec 2023	173	+145.9%	Cons. · Japanese GAAP
FYE Dec 2024	177	+2.8%	Cons. · Japanese GAAP
FYE Dec 2025	136	−23.1%	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Dec 2025 ¥20bn

CAGR · 10 yrs −9.5%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	49.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	46.3	−5.4%	Cons. · Japanese GAAP
FYE Dec 2018	65.4	+41.2%	Cons. · Japanese GAAP
FYE Dec 2019	46.5	−28.8%	Cons. · Japanese GAAP
FYE Dec 2020	35.2	−24.3%	Cons. · Japanese GAAP
FYE Dec 2021	41.1	+16.5%	Cons. · Japanese GAAP
FYE Dec 2022	59.3	+44.6%	Cons. · Japanese GAAP
FYE Dec 2023	83.9	+41.4%	Cons. · Japanese GAAP
FYE Dec 2024	47.3	−43.6%	Cons. · Japanese GAAP
FYE Dec 2025	19.9	−57.9%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Dec 2025 ¥117bn

CAGR · 10 yrs +5.9%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	69.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	64.1	−7.5%	Cons. · Japanese GAAP
FYE Dec 2018	58.7	−8.4%	Cons. · Japanese GAAP
FYE Dec 2019	47.7	−18.8%	Cons. · Japanese GAAP
FYE Dec 2020	57.1	+19.7%	Cons. · Japanese GAAP
FYE Dec 2021	54.0	−5.5%	Cons. · Japanese GAAP
FYE Dec 2022	10.9	−79.9%	Cons. · Japanese GAAP
FYE Dec 2023	88.7	+717.7%	Cons. · Japanese GAAP
FYE Dec 2024	130	+46.7%	Cons. · Japanese GAAP
FYE Dec 2025	117	−10.5%	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 Dec 2025 ¥11bn

CAGR · 10 yrs −6.9%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	20.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.2	−7.1%	Cons. · Japanese GAAP
FYE Dec 2018	15.1	−21.3%	Cons. · Japanese GAAP
FYE Dec 2019	12.2	−19.3%	Cons. · Japanese GAAP
FYE Dec 2020	13.7	+12.3%	Cons. · Japanese GAAP
FYE Dec 2021	14.5	+6.0%	Cons. · Japanese GAAP
FYE Dec 2022	13.9	−4.5%	Cons. · Japanese GAAP
FYE Dec 2023	12.5	−9.8%	Cons. · Japanese GAAP
FYE Dec 2024	13.4	+6.7%	Cons. · Japanese GAAP
FYE Dec 2025	10.9	−18.4%	Cons. · Japanese GAAP

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

Goodwill

FYE Dec 2025 ¥0.5bn

CAGR · 10 yrs −25.8%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	8.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.9	+10.7%	Cons. · Japanese GAAP
FYE Dec 2018	7.1	−20.3%	Cons. · Japanese GAAP
FYE Dec 2019	5.1	−28.5%	Cons. · Japanese GAAP
FYE Dec 2020	4.6	−9.9%	Cons. · Japanese GAAP
FYE Dec 2021	3.3	−28.1%	Cons. · Japanese GAAP
FYE Dec 2022	1.3	−62.0%	Cons. · Japanese GAAP
FYE Dec 2023	0.9	−24.5%	Cons. · Japanese GAAP
FYE Dec 2024	1.1	+14.3%	Cons. · Japanese GAAP
FYE Dec 2025	0.5	−49.5%	Cons. · Japanese GAAP

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

Equity ratio

FYE Dec 2025 43.0%

Average · 10 yrs 40.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	35.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.2	+5.7pp	Cons. · Japanese GAAP
FYE Dec 2018	40.1	−1.1pp	Cons. · Japanese GAAP
FYE Dec 2019	38.6	−1.5pp	Cons. · Japanese GAAP
FYE Dec 2020	39.4	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2021	42.9	+3.4pp	Cons. · Japanese GAAP
FYE Dec 2022	42.8	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2023	37.1	−5.7pp	Cons. · Japanese GAAP
FYE Dec 2024	39.7	+2.5pp	Cons. · Japanese GAAP
FYE Dec 2025	43.0	+3.4pp	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 Dec 2025 47.5%

Average · 10 yrs 46.8%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	51.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.1	−10.5pp	Cons. · Japanese GAAP
FYE Dec 2018	49.7	+8.6pp	Cons. · Japanese GAAP
FYE Dec 2019	39.5	−10.1pp	Cons. · Japanese GAAP
FYE Dec 2020	40.3	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2021	36.7	−3.7pp	Cons. · Japanese GAAP
FYE Dec 2022	26.6	−10.1pp	Cons. · Japanese GAAP
FYE Dec 2023	68.9	+42.3pp	Cons. · Japanese GAAP
FYE Dec 2024	65.8	−3.1pp	Cons. · Japanese GAAP
FYE Dec 2025	47.5	−18.3pp	Cons. · Japanese GAAP

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

ROE return on equity

FYE Dec 2025 4.8%

Average · 10 yrs 2.9%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.8	+8.2pp	Cons. · Japanese GAAP
FYE Dec 2018	-2.9	−12.7pp	Cons. · Japanese GAAP
FYE Dec 2019	-2.8	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2020	5.9	+8.7pp	Cons. · Japanese GAAP
FYE Dec 2021	9.6	+3.7pp	Cons. · Japanese GAAP
FYE Dec 2022	7.5	−2.1pp	Cons. · Japanese GAAP
FYE Dec 2023	-8.0	−15.5pp	Cons. · Japanese GAAP
FYE Dec 2024	3.8	+11.8pp	Cons. · Japanese GAAP
FYE Dec 2025	4.8	+1.0pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Dec 2025 2.1%

Average · 10 yrs 1.3%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.0	+3.5pp	Cons. · Japanese GAAP
FYE Dec 2018	-1.2	−5.2pp	Cons. · Japanese GAAP
FYE Dec 2019	-1.1	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2020	2.3	+3.4pp	Cons. · Japanese GAAP
FYE Dec 2021	4.1	+1.8pp	Cons. · Japanese GAAP
FYE Dec 2022	3.2	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2023	-3.0	−6.2pp	Cons. · Japanese GAAP
FYE Dec 2024	1.5	+4.5pp	Cons. · Japanese GAAP
FYE Dec 2025	2.1	+0.6pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Dec 2025 0.75×

CAGR · 10 yrs −0.9%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.82	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.79	−3.7%	Cons. · Japanese GAAP
FYE Dec 2018	0.67	−14.9%	Cons. · Japanese GAAP
FYE Dec 2019	0.83	+23.4%	Cons. · Japanese GAAP
FYE Dec 2020	0.79	−4.7%	Cons. · Japanese GAAP
FYE Dec 2021	0.84	+7.4%	Cons. · Japanese GAAP
FYE Dec 2022	0.84	−0.8%	Cons. · Japanese GAAP
FYE Dec 2023	0.80	−4.3%	Cons. · Japanese GAAP
FYE Dec 2024	0.73	−9.3%	Cons. · Japanese GAAP
FYE Dec 2025	0.75	+3.4%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Dec 2025 ¥49bn

CAGR · 10 yrs +7.0%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	26.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.4	+21.1%	Cons. · Japanese GAAP
FYE Dec 2018	15.5	−52.2%	Cons. · Japanese GAAP
FYE Dec 2019	26.2	+69.4%	Cons. · Japanese GAAP
FYE Dec 2020	42.6	+62.3%	Cons. · Japanese GAAP
FYE Dec 2021	39.8	−6.5%	Cons. · Japanese GAAP
FYE Dec 2022	19.6	−50.8%	Cons. · Japanese GAAP
FYE Dec 2023	23.5	+20.1%	Cons. · Japanese GAAP
FYE Dec 2024	28.4	+20.7%	Cons. · Japanese GAAP
FYE Dec 2025	49.3	+73.9%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Dec 2025 -¥11bn

Average · 10 yrs -¥19bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-31.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-1.8	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-20.7	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-21.8	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-6.3	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-16.8	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-11.7	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-46.5	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-20.9	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-10.8	n/a	Cons. · Japanese GAAP

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

Financing cash flow

FYE Dec 2025 -¥46bn

Average · 10 yrs -¥12bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-34.8	−1067.6%	Cons. · Japanese GAAP
FYE Dec 2018	11.9	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-10.1	−184.3%	Cons. · Japanese GAAP
FYE Dec 2020	-24.2	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-30.8	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-8.9	n/a	Cons. · Japanese GAAP
FYE Dec 2023	25.4	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-8.8	−134.5%	Cons. · Japanese GAAP
FYE Dec 2025	-46.2	n/a	Cons. · Japanese GAAP

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

Cash and equivalents

FYE Dec 2025 ¥44bn

CAGR · 10 yrs +1.1%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	39.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.5	−8.5%	Cons. · Japanese GAAP
FYE Dec 2018	42.4	+16.3%	Cons. · Japanese GAAP
FYE Dec 2019	37.3	−12.2%	Cons. · Japanese GAAP
FYE Dec 2020	48.7	+30.7%	Cons. · Japanese GAAP
FYE Dec 2021	42.6	−12.5%	Cons. · Japanese GAAP
FYE Dec 2022	45.1	+5.9%	Cons. · Japanese GAAP
FYE Dec 2023	49.9	+10.7%	Cons. · Japanese GAAP
FYE Dec 2024	50.4	+1.0%	Cons. · Japanese GAAP
FYE Dec 2025	44.1	−12.6%	Cons. · Japanese GAAP

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

Free cash flow

FYE Dec 2025 ¥38bn

Average · 10 yrs ¥12bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-4.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.6	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-5.2	−117.1%	Cons. · Japanese GAAP
FYE Dec 2019	4.5	n/a	Cons. · Japanese GAAP
FYE Dec 2020	36.3	+707.8%	Cons. · Japanese GAAP
FYE Dec 2021	23.1	−36.4%	Cons. · Japanese GAAP
FYE Dec 2022	7.9	−65.8%	Cons. · Japanese GAAP
FYE Dec 2023	-23.0	−391.4%	Cons. · Japanese GAAP
FYE Dec 2024	7.5	n/a	Cons. · Japanese GAAP
FYE Dec 2025	38.5	+412.6%	Cons. · Japanese GAAP

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

Operating cash flow margin

FYE Dec 2025 9.8%

Average · 10 yrs 6.1%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	5.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.3	+1.3pp	Cons. · Japanese GAAP
FYE Dec 2018	3.7	−2.6pp	Cons. · Japanese GAAP
FYE Dec 2019	5.2	+1.4pp	Cons. · Japanese GAAP
FYE Dec 2020	9.3	+4.2pp	Cons. · Japanese GAAP
FYE Dec 2021	7.8	−1.5pp	Cons. · Japanese GAAP
FYE Dec 2022	3.8	−4.0pp	Cons. · Japanese GAAP
FYE Dec 2023	4.3	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2024	5.7	+1.4pp	Cons. · Japanese GAAP
FYE Dec 2025	9.8	+4.1pp	Cons. · Japanese GAAP

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

Net cash

FYE Dec 2025 -¥92bn

Average · 10 yrs -¥75bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-78.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-73.9	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-81.7	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-57.0	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-43.6	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-52.4	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-25.1	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-123	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-127	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-92.4	n/a	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Dec 2025 ¥222bn

Change · 7 yrs +¥23bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	199	n/a
FYE Mar 2018	256	n/a
FYE Dec 2018	n/a	n/a
FYE Dec 2019	n/a	n/a
FYE Dec 2020	134	n/a
FYE Dec 2021	157	n/a
FYE Dec 2022	164	n/a
FYE Dec 2023	n/a	n/a
FYE Dec 2024	153	n/a
FYE Dec 2025	222	n/a

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

Share price year-end close

FYE Dec 2025 1,309¥

Change · 7 yrs +197¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,112	n/a
FYE Mar 2018	1,429	n/a
FYE Dec 2018	n/a	n/a
FYE Dec 2019	n/a	n/a
FYE Dec 2020	749	n/a
FYE Dec 2021	880	n/a
FYE Dec 2022	968	n/a
FYE Dec 2023	n/a	n/a
FYE Dec 2024	903	n/a
FYE Dec 2025	1,309	n/a

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

Shares outstanding

FYE Dec 2025 169,328,000shares

Change · 10 yrs −9,470,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	178,798,000	Parent
FYE Mar 2018	178,798,000	Parent
FYE Dec 2018	178,834,000	Parent
FYE Dec 2019	178,894,000	Parent
FYE Dec 2020	178,978,000	Parent
FYE Dec 2021	179,042,000	Parent
FYE Dec 2022	169,120,000	Parent
FYE Dec 2023	169,192,000	Parent
FYE Dec 2024	169,246,000	Parent
FYE Dec 2025	169,328,000	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 Dec 2025 89.07¥

Change · 10 yrs +66.55¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	22.52	Cons.
FYE Mar 2018	160.59	Cons.
FYE Dec 2018	-43.26	Cons.
FYE Dec 2019	-39.45	Cons.
FYE Dec 2020	81.38	Cons.
FYE Dec 2021	149.08	Cons.
FYE Dec 2022	121.06	Cons.
FYE Dec 2023	-127.61	Cons.
FYE Dec 2024	65.40	Cons.
FYE Dec 2025	89.07	Cons.

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

BPS book value per share

FYE Dec 2025 1,696.84¥

Change · 10 yrs +412.72¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,284.12	Cons. · Japanese GAAP
FYE Mar 2018	1,504.07	Cons. · Japanese GAAP
FYE Dec 2018	1,396.70	Cons. · Japanese GAAP
FYE Dec 2019	1,331.92	Cons. · Japanese GAAP
FYE Dec 2020	1,279.61	Cons. · Japanese GAAP
FYE Dec 2021	1,447.62	Cons. · Japanese GAAP
FYE Dec 2022	1,559.96	Cons. · Japanese GAAP
FYE Dec 2023	1,481.37	Cons. · Japanese GAAP
FYE Dec 2024	1,594.06	Cons. · Japanese GAAP
FYE Dec 2025	1,696.84	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Dec 2025 14.70×

Average · 7 yrs 15.70×

Fiscal year	PER ×	Basis
FYE Mar 2017	49.40	Cons.
FYE Mar 2018	8.90	Cons.
FYE Dec 2018	n/a	Cons.
FYE Dec 2019	n/a	Cons.
FYE Dec 2020	9.20	Cons.
FYE Dec 2021	5.90	Cons.
FYE Dec 2022	8.00	Cons.
FYE Dec 2023	n/a	Cons.
FYE Dec 2024	13.80	Cons.
FYE Dec 2025	14.70	Cons.

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

PBR price-to-book ratio

FYE Dec 2025 0.71×

Average · 7 yrs 0.65×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.77	Cons.
FYE Mar 2018	0.86	Cons.
FYE Dec 2018	n/a	Cons.
FYE Dec 2019	n/a	Cons.
FYE Dec 2020	0.54	Cons.
FYE Dec 2021	0.57	Cons.
FYE Dec 2022	0.58	Cons.
FYE Dec 2023	n/a	Cons.
FYE Dec 2024	0.53	Cons.
FYE Dec 2025	0.71	Cons.

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

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

Group employees

FYE Dec 2025 17,811people

Change · 10 yrs −5,445 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	23,256	n/a	Cons.
FYE Mar 2018	23,104	−0.7%	Cons.
FYE Dec 2018	22,850	−1.1%	Cons.
FYE Dec 2019	22,889	+0.2%	Cons.
FYE Dec 2020	21,725	−5.1%	Cons.
FYE Dec 2021	21,112	−2.8%	Cons.
FYE Dec 2022	21,081	−0.1%	Cons.
FYE Dec 2023	19,416	−7.9%	Cons.
FYE Dec 2024	18,630	−4.0%	Cons.
FYE Dec 2025	17,811	−4.4%	Cons.

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

Parent-company employees

FYE Dec 2025 175people

Change · 10 yrs −16 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	191	n/a	Parent
FYE Mar 2018	219	+14.7%	Parent
FYE Dec 2018	234	+6.8%	Parent
FYE Dec 2019	240	+2.6%	Parent
FYE Dec 2020	252	+5.0%	Parent
FYE Dec 2021	219	−13.1%	Parent
FYE Dec 2022	225	+2.7%	Parent
FYE Dec 2023	231	+2.7%	Parent
FYE Dec 2024	236	+2.2%	Parent
FYE Dec 2025	175	−25.8%	Parent

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

Average annual pay parent company

FYE Dec 2025 759万円

Change · 7 yrs +7万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	752	n/a	Parent
FYE Dec 2020	734	−2.3%	Parent
FYE Dec 2021	714	−2.7%	Parent
FYE Dec 2022	720	+0.8%	Parent
FYE Dec 2023	643	−10.7%	Parent
FYE Dec 2024	715	+11.2%	Parent
FYE Dec 2025	759	+6.1%	Parent

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

Average age

FYE Dec 2025 43.2years

Change · 7 yrs −1.7 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 Dec 2018	n/a	n/a	Parent
FYE Dec 2019	44.9	n/a	Parent
FYE Dec 2020	44.5	−0.9%	Parent
FYE Dec 2021	44.4	−0.2%	Parent
FYE Dec 2022	44.2	−0.5%	Parent
FYE Dec 2023	42.7	−3.4%	Parent
FYE Dec 2024	42.3	−0.9%	Parent
FYE Dec 2025	43.2	+2.1%	Parent

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

Average length of service

FYE Dec 2025 17.7years

Change · 7 yrs −3.8 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 Dec 2018	n/a	n/a	Parent
FYE Dec 2019	21.5	n/a	Parent
FYE Dec 2020	20.0	−7.0%	Parent
FYE Dec 2021	20.3	+1.5%	Parent
FYE Dec 2022	18.8	−7.4%	Parent
FYE Dec 2023	18.5	−1.6%	Parent
FYE Dec 2024	17.3	−6.5%	Parent
FYE Dec 2025	17.7	+2.3%	Parent

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

Temporary employees

FYE Dec 2025 2,305people

Change · 10 yrs −682 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	2,987	n/a	n/a
FYE Mar 2018	2,864	−4.1%	n/a
FYE Dec 2018	3,009	+5.1%	n/a
FYE Dec 2019	3,111	+3.4%	n/a
FYE Dec 2020	2,946	−5.3%	n/a
FYE Dec 2021	2,608	−11.5%	n/a
FYE Dec 2022	2,664	+2.1%	n/a
FYE Dec 2023	2,809	+5.4%	n/a
FYE Dec 2024	2,235	−20.4%	n/a
FYE Dec 2025	2,305	+3.1%	n/a

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

Revenue per employee

FYE Dec 2025 ¥28.2m

Change · 10 yrs +¥5.5m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	22.7	n/a	Cons.
FYE Mar 2018	22.2	−2.2%	Cons.
FYE Dec 2018	18.2	−17.8%	Cons.
FYE Dec 2019	22.3	+22.2%	Cons.
FYE Dec 2020	21.0	−5.5%	Cons.
FYE Dec 2021	24.2	+15.0%	Cons.
FYE Dec 2022	24.5	+1.2%	Cons.
FYE Dec 2023	27.9	+13.9%	Cons.
FYE Dec 2024	26.6	−4.7%	Cons.
FYE Dec 2025	28.2	+6.2%	Cons.

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

Operating profit per employee

FYE Dec 2025 ¥1.5m

Change · 10 yrs +¥1.3m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	0.2	n/a	Cons.
FYE Mar 2018	0.7	+210.5%	Cons.
FYE Dec 2018	-0.1	−116.8%	Cons.
FYE Dec 2019	0.3	n/a	Cons.
FYE Dec 2020	0.1	−79.7%	Cons.
FYE Dec 2021	1.0	+1696.5%	Cons.
FYE Dec 2022	0.7	−29.1%	Cons.
FYE Dec 2023	0.6	−12.4%	Cons.
FYE Dec 2024	0.9	+38.8%	Cons.
FYE Dec 2025	1.5	+66.5%	Cons.

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

Disclaimer

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

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

Data API

Nisshinbo Holdings’s history, presidents and financials are published as static JSON — no key, plain GET. One API per public page, and one per section where a page carries several tables. Full specification →

/api/3105/company.json ·/api/3105/history.json ·/api/3105/ceo.json ·/api/3105/financials.json ·/api/3105/financials/segment.json ·/api/3105/financials/pl.json ·/api/3105/financials/cf.json ·/api/3105/financials/bs.json ·/api/3105/financials/employee.json ·/api/3105/financials/stock.json ·/api/3105/financials.csv ·/api/3105/financials_history.csv

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