Financials

Daiwabo Holdings: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥1.35tnYoY +18.8%

FYE Mar 2026 · Operating profit¥44bnYoY +26.6%

FYE Mar 2026 · Net profit¥32bnYoY +29.4%

FYE Mar 2026 · Equity ratio36.8%YoY +2.2pp

FYE Mar 2026 · Group employees3,072YoY +144

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥618bn	n/a	¥13bn	n/a	2.0%	¥7.5bn	Nogami Yoshihiro	—
FYE Mar 2018Consolidated	¥670bn	+8.4%	¥14bn	+13.3%	2.1%	¥11bn	Nogami Yoshihiro	—
FYE Mar 2019Consolidated	¥786bn	+17.3%	¥23bn	+58.7%	2.9%	¥17bn	Nogami Yoshihiro	—
FYE Mar 2020Consolidated	¥944bn	+20.2%	¥33bn	+44.6%	3.5%	¥21bn	Nogami Yoshihiro	—
FYE Mar 2021Consolidated	¥1.04tn	+10.5%	¥35bn	+6.7%	3.4%	¥26bn	Nogami Yoshihiro	GIGA School demand; sales pass ¥1trn, record net profit
FYE Mar 2022Consolidated	¥764bn	−26.8%	¥24bn	−31.3%	3.1%	¥17bn	Nishimura Yukihiro	Wakayama mill closed
FYE Mar 2023Consolidated	¥904bn	+18.3%	¥28bn	+16.1%	3.1%	¥19bn	Nishimura Yukihiro	—
FYE Mar 2024Consolidated	¥968bn	+7.1%	¥31bn	+10.8%	3.2%	¥4.3bn	Nishimura Yukihiro	—
FYE Mar 2025Consolidated	¥1.14tn	+17.5%	¥35bn	+12.7%	3.1%	¥25bn	Nishimura Yukihiro	85% of Daiwa Boseki sold to Aspirant Group — exit from textiles
FYE Mar 2026Consolidated	¥1.35tn	+18.8%	¥44bn	+26.6%	3.3%	¥32bn	Nishimura Yukihiro	New plan: ¥50bn operating profit by FY2031

How it compares

Daiwabo Holdings¥1.35tnFY2025Operating margin 3.3%

Otsuka Corporation¥1.32tnFY2025Operating margin 6.8%

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 ¥1.35tn

CAGR · 10 yrs +9.1%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	618	n/a	Cons. · Japanese GAAP
FYE Mar 2018	670	+8.4%	Cons. · Japanese GAAP
FYE Mar 2019	786	+17.3%	Cons. · Japanese GAAP
FYE Mar 2020	944	+20.2%	Cons. · Japanese GAAP
FYE Mar 2021	1,044	+10.5%	Cons. · Japanese GAAP
FYE Mar 2022	764	−26.8%	Cons. · Japanese GAAP
FYE Mar 2023	904	+18.3%	Cons. · Japanese GAAP
FYE Mar 2024	968	+7.1%	Cons. · Japanese GAAP
FYE Mar 2025	1,137	+17.5%	Cons. · Japanese GAAP
FYE Mar 2026	1,351	+18.8%	Cons. · Japanese GAAP

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

Cost of sales

FYE Mar 2026 ¥1.26tn

CAGR · 10 yrs +9.3%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	562	n/a	Cons. · Japanese GAAP
FYE Mar 2018	612	+8.8%	Cons. · Japanese GAAP
FYE Mar 2019	718	+17.3%	Cons. · Japanese GAAP
FYE Mar 2020	863	+20.2%	Cons. · Japanese GAAP
FYE Mar 2021	962	+11.5%	Cons. · Japanese GAAP
FYE Mar 2022	700	−27.2%	Cons. · Japanese GAAP
FYE Mar 2023	833	+19.1%	Cons. · Japanese GAAP
FYE Mar 2024	890	+6.7%	Cons. · Japanese GAAP
FYE Mar 2025	1,057	+18.8%	Cons. · Japanese GAAP
FYE Mar 2026	1,256	+18.8%	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 ¥95bn

CAGR · 10 yrs +6.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	55.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	57.9	+4.2%	Cons. · Japanese GAAP
FYE Mar 2019	67.8	+17.1%	Cons. · Japanese GAAP
FYE Mar 2020	81.5	+20.2%	Cons. · Japanese GAAP
FYE Mar 2021	81.9	+0.5%	Cons. · Japanese GAAP
FYE Mar 2022	64.1	−21.6%	Cons. · Japanese GAAP
FYE Mar 2023	70.5	+9.9%	Cons. · Japanese GAAP
FYE Mar 2024	78.2	+10.9%	Cons. · Japanese GAAP
FYE Mar 2025	79.8	+2.0%	Cons. · Japanese GAAP
FYE Mar 2026	94.6	+18.6%	Cons. · Japanese GAAP

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

SG&A selling, general and administrative expenses

FYE Mar 2026 ¥50bn

CAGR · 10 yrs +1.8%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	43.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	43.6	+1.5%	Cons. · Japanese GAAP
FYE Mar 2019	45.1	+3.4%	Cons. · Japanese GAAP
FYE Mar 2020	48.6	+7.8%	Cons. · Japanese GAAP
FYE Mar 2021	46.8	−3.7%	Cons. · Japanese GAAP
FYE Mar 2022	40.1	−14.4%	Cons. · Japanese GAAP
FYE Mar 2023	42.6	+6.2%	Cons. · Japanese GAAP
FYE Mar 2024	47.2	+11.0%	Cons. · Japanese GAAP
FYE Mar 2025	44.9	−5.0%	Cons. · Japanese GAAP
FYE Mar 2026	50.5	+12.4%	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 ¥44bn

CAGR · 10 yrs +14.9%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	12.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.3	+13.3%	Cons. · Japanese GAAP
FYE Mar 2019	22.7	+58.7%	Cons. · Japanese GAAP
FYE Mar 2020	32.8	+44.6%	Cons. · Japanese GAAP
FYE Mar 2021	35.0	+6.7%	Cons. · Japanese GAAP
FYE Mar 2022	24.1	−31.3%	Cons. · Japanese GAAP
FYE Mar 2023	27.9	+16.1%	Cons. · Japanese GAAP
FYE Mar 2024	31.0	+10.8%	Cons. · Japanese GAAP
FYE Mar 2025	34.9	+12.7%	Cons. · Japanese GAAP
FYE Mar 2026	44.2	+26.6%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥1.5bn

CAGR · 10 yrs +4.3%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	+0.5%	Cons. · Japanese GAAP
FYE Mar 2019	1.0	−5.5%	Cons. · Japanese GAAP
FYE Mar 2020	1.2	+21.8%	Cons. · Japanese GAAP
FYE Mar 2021	1.5	+26.4%	Cons. · Japanese GAAP
FYE Mar 2022	1.2	−18.7%	Cons. · Japanese GAAP
FYE Mar 2023	1.5	+22.9%	Cons. · Japanese GAAP
FYE Mar 2024	1.3	−11.9%	Cons. · Japanese GAAP
FYE Mar 2025	1.2	−4.9%	Cons. · Japanese GAAP
FYE Mar 2026	1.5	+18.9%	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 Mar 2026 ¥0.7bn

CAGR · 10 yrs −4.7%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	−3.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.8	−19.6%	Cons. · Japanese GAAP
FYE Mar 2020	0.8	−2.1%	Cons. · Japanese GAAP
FYE Mar 2021	0.7	−11.7%	Cons. · Japanese GAAP
FYE Mar 2022	0.7	−2.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.8	+14.8%	Cons. · Japanese GAAP
FYE Mar 2024	0.8	+2.8%	Cons. · Japanese GAAP
FYE Mar 2025	0.7	−18.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.7	+1.8%	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 ¥45bn

CAGR · 10 yrs +15.2%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	12.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.3	+13.7%	Cons. · Japanese GAAP
FYE Mar 2019	22.8	+59.8%	Cons. · Japanese GAAP
FYE Mar 2020	33.2	+45.3%	Cons. · Japanese GAAP
FYE Mar 2021	35.8	+7.8%	Cons. · Japanese GAAP
FYE Mar 2022	24.6	−31.4%	Cons. · Japanese GAAP
FYE Mar 2023	28.6	+16.5%	Cons. · Japanese GAAP
FYE Mar 2024	31.4	+9.9%	Cons. · Japanese GAAP
FYE Mar 2025	35.5	+12.8%	Cons. · Japanese GAAP
FYE Mar 2026	44.9	+26.8%	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 ¥0.3bn

CAGR · 10 yrs −5.6%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.3	+191.4%	Cons. · Japanese GAAP
FYE Mar 2019	1.6	+18.5%	Cons. · Japanese GAAP
FYE Mar 2020	0.1	−91.3%	Cons. · Japanese GAAP
FYE Mar 2021	1.5	+971.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.5	−64.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.1	−89.0%	Cons. · Japanese GAAP
FYE Mar 2024	0.1	+3.4%	Cons. · Japanese GAAP
FYE Mar 2025	0.5	+793.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.3	−49.6%	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 ¥32bn

CAGR · 10 yrs +17.6%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.5	+41.0%	Cons. · Japanese GAAP
FYE Mar 2019	16.8	+59.3%	Cons. · Japanese GAAP
FYE Mar 2020	21.2	+26.2%	Cons. · Japanese GAAP
FYE Mar 2021	25.7	+21.4%	Cons. · Japanese GAAP
FYE Mar 2022	17.0	−33.9%	Cons. · Japanese GAAP
FYE Mar 2023	19.1	+12.2%	Cons. · Japanese GAAP
FYE Mar 2024	4.3	−77.5%	Cons. · Japanese GAAP
FYE Mar 2025	24.8	+477.9%	Cons. · Japanese GAAP
FYE Mar 2026	32.0	+29.4%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 7.0%

Average · 10 yrs 8.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	9.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	8.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	8.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	7.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	8.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	7.8	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	8.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	7.0	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	7.0	−0.0pp	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 3.3%

Average · 10 yrs 3.0%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	2.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	2.9	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	3.5	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	3.4	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	3.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	3.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	3.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	3.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	3.3	+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 Mar 2026 3.3%

Average · 10 yrs 3.0%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	2.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	2.9	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	3.5	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	3.4	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	3.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	3.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	3.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	3.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	3.3	+0.2pp	Cons. · Japanese GAAP

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

Net margin

FYE Mar 2026 2.4%

Average · 10 yrs 1.9%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	2.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	2.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	2.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	2.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	2.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	0.4	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	2.2	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2026	2.4	+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 93.0%

Average · 10 yrs 91.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	91.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	91.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	91.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	91.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	92.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	91.6	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	92.2	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	91.9	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	93.0	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	93.0	−0.0pp	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 3.7%

Average · 10 yrs 5.1%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	5.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	5.2	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	4.5	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	5.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	4.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2024	4.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	3.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	3.7	−0.2pp	Cons. · Japanese GAAP

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

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

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥462bn

CAGR · 10 yrs +6.6%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	260	n/a	Cons. · Japanese GAAP
FYE Mar 2018	286	+10.2%	Cons. · Japanese GAAP
FYE Mar 2019	336	+17.4%	Cons. · Japanese GAAP
FYE Mar 2020	329	−2.1%	Cons. · Japanese GAAP
FYE Mar 2021	384	+16.7%	Cons. · Japanese GAAP
FYE Mar 2022	356	−7.2%	Cons. · Japanese GAAP
FYE Mar 2023	407	+14.2%	Cons. · Japanese GAAP
FYE Mar 2024	405	−0.4%	Cons. · Japanese GAAP
FYE Mar 2025	440	+8.6%	Cons. · Japanese GAAP
FYE Mar 2026	462	+5.0%	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 ¥170bn

CAGR · 10 yrs +11.6%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	63.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	72.4	+14.5%	Cons. · Japanese GAAP
FYE Mar 2019	86.4	+19.3%	Cons. · Japanese GAAP
FYE Mar 2020	104	+20.2%	Cons. · Japanese GAAP
FYE Mar 2021	128	+23.5%	Cons. · Japanese GAAP
FYE Mar 2022	135	+5.4%	Cons. · Japanese GAAP
FYE Mar 2023	143	+5.7%	Cons. · Japanese GAAP
FYE Mar 2024	142	−0.7%	Cons. · Japanese GAAP
FYE Mar 2025	152	+7.2%	Cons. · Japanese GAAP
FYE Mar 2026	170	+11.7%	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 ¥18bn

CAGR · 10 yrs −8.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	39.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	37.2	−5.7%	Cons. · Japanese GAAP
FYE Mar 2019	34.4	−7.6%	Cons. · Japanese GAAP
FYE Mar 2020	31.6	−8.0%	Cons. · Japanese GAAP
FYE Mar 2021	27.3	−13.6%	Cons. · Japanese GAAP
FYE Mar 2022	27.5	+0.6%	Cons. · Japanese GAAP
FYE Mar 2023	26.1	−5.0%	Cons. · Japanese GAAP
FYE Mar 2024	20.9	−19.9%	Cons. · Japanese GAAP
FYE Mar 2025	20.7	−0.9%	Cons. · Japanese GAAP
FYE Mar 2026	18.4	−11.3%	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 ¥11bn

CAGR · 10 yrs −6.6%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.2	−0.2%	Cons. · Japanese GAAP
FYE Mar 2019	15.9	−21.1%	Cons. · Japanese GAAP
FYE Mar 2020	12.6	−20.9%	Cons. · Japanese GAAP
FYE Mar 2021	15.3	+21.0%	Cons. · Japanese GAAP
FYE Mar 2022	12.6	−17.5%	Cons. · Japanese GAAP
FYE Mar 2023	12.9	+2.2%	Cons. · Japanese GAAP
FYE Mar 2024	8.4	−34.7%	Cons. · Japanese GAAP
FYE Mar 2025	8.9	+6.0%	Cons. · Japanese GAAP
FYE Mar 2026	10.9	+22.5%	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 ¥7.5bn

CAGR · 10 yrs −10.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	19.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.0	−11.6%	Cons. · Japanese GAAP
FYE Mar 2019	18.4	+8.6%	Cons. · Japanese GAAP
FYE Mar 2020	19.0	+3.2%	Cons. · Japanese GAAP
FYE Mar 2021	12.1	−36.6%	Cons. · Japanese GAAP
FYE Mar 2022	14.9	+23.5%	Cons. · Japanese GAAP
FYE Mar 2023	13.2	−11.2%	Cons. · Japanese GAAP
FYE Mar 2024	12.5	−5.5%	Cons. · Japanese GAAP
FYE Mar 2025	11.8	−5.6%	Cons. · Japanese GAAP
FYE Mar 2026	7.5	−36.7%	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 ¥6.4bn

CAGR · 10 yrs +2.7%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.6	−47.0%	Cons. · Japanese GAAP
FYE Mar 2019	2.4	−8.3%	Cons. · Japanese GAAP
FYE Mar 2020	3.4	+40.5%	Cons. · Japanese GAAP
FYE Mar 2021	2.7	−20.8%	Cons. · Japanese GAAP
FYE Mar 2022	2.5	−8.7%	Cons. · Japanese GAAP
FYE Mar 2023	2.1	−15.5%	Cons. · Japanese GAAP
FYE Mar 2024	3.7	+77.4%	Cons. · Japanese GAAP
FYE Mar 2025	5.0	+34.7%	Cons. · Japanese GAAP
FYE Mar 2026	6.4	+27.7%	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 ¥1.1bn

CAGR · 8 yrs −14.5%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	3.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.7	−45.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.8	−55.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.4	−49.5%	Cons. · Japanese GAAP
FYE Mar 2021	0.0	−98.4%	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2025	1.2	−11.1%	Cons. · Japanese GAAP
FYE Mar 2026	1.1	−12.5%	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 Mar 2026 36.8%

Average · 10 yrs 32.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	24.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.3	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	25.7	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	31.6	+5.9pp	Cons. · Japanese GAAP
FYE Mar 2021	33.4	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	38.0	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2023	35.2	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2024	35.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	34.6	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	36.8	+2.2pp	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 10.8%

Average · 10 yrs 28.3%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	62.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	51.4	−11.0pp	Cons. · Japanese GAAP
FYE Mar 2019	39.8	−11.6pp	Cons. · Japanese GAAP
FYE Mar 2020	30.5	−9.3pp	Cons. · Japanese GAAP
FYE Mar 2021	21.3	−9.2pp	Cons. · Japanese GAAP
FYE Mar 2022	20.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	18.3	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	14.7	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2025	13.6	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	10.8	−2.8pp	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 18.9%

Average · 10 yrs 15.0%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	11.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.5	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2019	19.4	+4.9pp	Cons. · Japanese GAAP
FYE Mar 2020	20.4	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2021	20.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	12.6	−7.5pp	Cons. · Japanese GAAP
FYE Mar 2023	13.3	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	3.0	−10.3pp	Cons. · Japanese GAAP
FYE Mar 2025	16.3	+13.3pp	Cons. · Japanese GAAP
FYE Mar 2026	18.9	+2.6pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 6.9%

Average · 10 yrs 4.8%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.7	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	5.0	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	6.4	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2021	6.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	4.8	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2023	4.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	1.1	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2025	5.6	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2026	6.9	+1.3pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 2.92×

CAGR · 10 yrs +2.3%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	2.38	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.34	−1.7%	Cons. · Japanese GAAP
FYE Mar 2019	2.34	−0.1%	Cons. · Japanese GAAP
FYE Mar 2020	2.87	+22.8%	Cons. · Japanese GAAP
FYE Mar 2021	2.72	−5.3%	Cons. · Japanese GAAP
FYE Mar 2022	2.14	−21.1%	Cons. · Japanese GAAP
FYE Mar 2023	2.22	+3.6%	Cons. · Japanese GAAP
FYE Mar 2024	2.39	+7.4%	Cons. · Japanese GAAP
FYE Mar 2025	2.58	+8.2%	Cons. · Japanese GAAP
FYE Mar 2026	2.92	+13.2%	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 ¥15bn

CAGR · 10 yrs +12.6%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.0	+100.6%	Cons. · Japanese GAAP
FYE Mar 2019	10.1	+0.8%	Cons. · Japanese GAAP
FYE Mar 2020	18.5	+82.5%	Cons. · Japanese GAAP
FYE Mar 2021	9.4	−49.0%	Cons. · Japanese GAAP
FYE Mar 2022	28.2	+198.7%	Cons. · Japanese GAAP
FYE Mar 2023	17.0	−39.8%	Cons. · Japanese GAAP
FYE Mar 2024	24.5	+44.7%	Cons. · Japanese GAAP
FYE Mar 2025	5.9	−75.9%	Cons. · Japanese GAAP
FYE Mar 2026	14.6	+146.6%	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 -¥6.2bn

Average · 10 yrs -¥2.6bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-1.2	−270.8%	Cons. · Japanese GAAP
FYE Mar 2020	-4.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-4.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-6.2	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 -¥20bn

Average · 10 yrs -¥9.0bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-5.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-4.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-10.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-10.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-17.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-19.7	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 ¥44bn

CAGR · 10 yrs +13.5%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	14.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.8	+48.0%	Cons. · Japanese GAAP
FYE Mar 2019	24.2	+16.4%	Cons. · Japanese GAAP
FYE Mar 2020	31.6	+30.6%	Cons. · Japanese GAAP
FYE Mar 2021	32.0	+1.5%	Cons. · Japanese GAAP
FYE Mar 2022	46.7	+45.9%	Cons. · Japanese GAAP
FYE Mar 2023	51.9	+11.1%	Cons. · Japanese GAAP
FYE Mar 2024	69.2	+33.2%	Cons. · Japanese GAAP
FYE Mar 2025	55.2	−20.2%	Cons. · Japanese GAAP
FYE Mar 2026	43.9	−20.6%	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 Mar 2026 ¥8.4bn

CAGR · 10 yrs +11.4%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.8	+239.5%	Cons. · Japanese GAAP
FYE Mar 2019	8.9	−17.2%	Cons. · Japanese GAAP
FYE Mar 2020	14.1	+58.7%	Cons. · Japanese GAAP
FYE Mar 2021	8.1	−42.9%	Cons. · Japanese GAAP
FYE Mar 2022	25.2	+212.7%	Cons. · Japanese GAAP
FYE Mar 2023	15.3	−39.3%	Cons. · Japanese GAAP
FYE Mar 2024	19.6	+27.8%	Cons. · Japanese GAAP
FYE Mar 2025	3.3	−83.1%	Cons. · Japanese GAAP
FYE Mar 2026	8.4	+152.7%	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 1.1%

Average · 10 yrs 1.6%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	0.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	1.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	2.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	0.9	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2022	3.7	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2023	1.9	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2024	2.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	0.5	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	1.1	+0.6pp	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 ¥25bn

Average · 10 yrs ¥11bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-25.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-16.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-10.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	4.7	n/a	Cons. · Japanese GAAP
FYE Mar 2022	19.2	+308.3%	Cons. · Japanese GAAP
FYE Mar 2023	25.8	+34.2%	Cons. · Japanese GAAP
FYE Mar 2024	48.3	+86.9%	Cons. · Japanese GAAP
FYE Mar 2025	34.5	−28.5%	Cons. · Japanese GAAP
FYE Mar 2026	25.5	−26.2%	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 ¥272bn

Change · 10 yrs +¥209bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	63.4	n/a
FYE Mar 2018	89.9	n/a
FYE Mar 2019	123	n/a
FYE Mar 2020	99.8	n/a
FYE Mar 2021	162	n/a
FYE Mar 2022	160	n/a
FYE Mar 2023	211	n/a
FYE Mar 2024	247	n/a
FYE Mar 2025	243	n/a
FYE Mar 2026	272	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 3,078¥

Change · 10 yrs +2,749¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	329	n/a
FYE Mar 2018	4,664	n/a
FYE Mar 2019	6,368	n/a
FYE Mar 2020	5,176	n/a
FYE Mar 2021	1,685	n/a
FYE Mar 2022	1,657	n/a
FYE Mar 2023	2,190	n/a
FYE Mar 2024	2,566	n/a
FYE Mar 2025	2,524	n/a
FYE Mar 2026	3,078	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 88,479,000shares

Change · 10 yrs −104,233,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	192,712,000	Parent
FYE Mar 2018	19,271,000	Parent
FYE Mar 2019	19,271,000	Parent
FYE Mar 2020	19,271,000	Parent
FYE Mar 2021	96,356,000	Parent
FYE Mar 2022	96,356,000	Parent
FYE Mar 2023	96,356,000	Parent
FYE Mar 2024	96,356,000	Parent
FYE Mar 2025	96,356,000	Parent
FYE Mar 2026	88,479,000	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 362.07¥

Change · 10 yrs +283.76¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	78.31	Cons.
FYE Mar 2018	109.74	Cons.
FYE Mar 2019	174.47	Cons.
FYE Mar 2020	220.27	Cons.
FYE Mar 2021	267.47	Cons.
FYE Mar 2022	178.14	Cons.
FYE Mar 2023	202.79	Cons.
FYE Mar 2024	45.82	Cons.
FYE Mar 2025	271.37	Cons.
FYE Mar 2026	362.07	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 1,919.43¥

Change · 10 yrs +1,591.28¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	328.15	Cons. · Japanese GAAP
FYE Mar 2018	3,756.37	Cons. · Japanese GAAP
FYE Mar 2019	4,482.90	Cons. · Japanese GAAP
FYE Mar 2020	5,388.87	Cons. · Japanese GAAP
FYE Mar 2021	1,331.39	Cons. · Japanese GAAP
FYE Mar 2022	1,403.71	Cons. · Japanese GAAP
FYE Mar 2023	1,484.03	Cons. · Japanese GAAP
FYE Mar 2024	1,473.02	Cons. · Japanese GAAP
FYE Mar 2025	1,578.40	Cons. · Japanese GAAP
FYE Mar 2026	1,919.43	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 8.50×

Average · 10 yrs 12.91×

Fiscal year	PER ×	Basis
FYE Mar 2017	8.40	Cons.
FYE Mar 2018	8.50	Cons.
FYE Mar 2019	7.30	Cons.
FYE Mar 2020	4.70	Cons.
FYE Mar 2021	6.30	Cons.
FYE Mar 2022	9.30	Cons.
FYE Mar 2023	10.80	Cons.
FYE Mar 2024	56.00	Cons.
FYE Mar 2025	9.30	Cons.
FYE Mar 2026	8.50	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 1.58×

Average · 10 yrs 1.32×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.99	Cons.
FYE Mar 2018	1.24	Cons.
FYE Mar 2019	1.42	Cons.
FYE Mar 2020	0.96	Cons.
FYE Mar 2021	1.26	Cons.
FYE Mar 2022	1.16	Cons.
FYE Mar 2023	1.43	Cons.
FYE Mar 2024	1.69	Cons.
FYE Mar 2025	1.49	Cons.
FYE Mar 2026	1.58	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 3,072people

Change · 10 yrs −2,545 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	5,617	n/a	Cons.
FYE Mar 2018	5,650	+0.6%	Cons.
FYE Mar 2019	5,794	+2.5%	Cons.
FYE Mar 2020	5,654	−2.4%	Cons.
FYE Mar 2021	5,683	+0.5%	Cons.
FYE Mar 2022	5,671	−0.2%	Cons.
FYE Mar 2023	5,432	−4.2%	Cons.
FYE Mar 2024	2,867	−47.2%	Cons.
FYE Mar 2025	2,928	+2.1%	Cons.
FYE Mar 2026	3,072	+4.9%	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 47people

Change · 10 yrs +33 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	14	n/a	Parent
FYE Mar 2018	12	−14.3%	Parent
FYE Mar 2019	16	+33.3%	Parent
FYE Mar 2020	26	+62.5%	Parent
FYE Mar 2021	28	+7.7%	Parent
FYE Mar 2022	28	−0.0%	Parent
FYE Mar 2023	26	−7.1%	Parent
FYE Mar 2024	31	+19.2%	Parent
FYE Mar 2025	37	+19.4%	Parent
FYE Mar 2026	47	+27.0%	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 ¥9.3m

Change · 8 yrs +¥2.0m

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	7.3	n/a	Parent
FYE Mar 2020	8.3	+13.4%	Parent
FYE Mar 2021	8.1	−2.1%	Parent
FYE Mar 2022	8.3	+2.7%	Parent
FYE Mar 2023	8.4	+0.3%	Parent
FYE Mar 2024	8.8	+5.6%	Parent
FYE Mar 2025	8.6	−2.4%	Parent
FYE Mar 2026	9.3	+8.1%	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 Mar 2026 45.1years

Change · 8 yrs −0.1 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	45.3	n/a	Parent
FYE Mar 2020	48.3	+6.8%	Parent
FYE Mar 2021	48.1	−0.4%	Parent
FYE Mar 2022	48.3	+0.3%	Parent
FYE Mar 2023	48.7	+0.8%	Parent
FYE Mar 2024	48.8	+0.2%	Parent
FYE Mar 2025	46.9	−3.9%	Parent
FYE Mar 2026	45.1	−3.8%	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 16.5years

Change · 8 yrs −4.2 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	20.7	n/a	Parent
FYE Mar 2020	22.1	+6.7%	Parent
FYE Mar 2021	21.1	−4.4%	Parent
FYE Mar 2022	23.1	+9.4%	Parent
FYE Mar 2023	23.4	+1.3%	Parent
FYE Mar 2024	22.9	−2.1%	Parent
FYE Mar 2025	20.6	−10.0%	Parent
FYE Mar 2026	16.5	−19.9%	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 861people

Change · 10 yrs +49 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	812	n/a	n/a
FYE Mar 2018	821	+1.1%	n/a
FYE Mar 2019	852	+3.8%	n/a
FYE Mar 2020	924	+8.5%	n/a
FYE Mar 2021	827	−10.5%	n/a
FYE Mar 2022	809	−2.2%	n/a
FYE Mar 2023	841	+4.0%	n/a
FYE Mar 2024	916	+8.9%	n/a
FYE Mar 2025	898	−2.0%	n/a
FYE Mar 2026	861	−4.1%	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 Mar 2026 ¥440m

Change · 10 yrs +¥330m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	110	n/a	Cons.
FYE Mar 2018	119	+7.7%	Cons.
FYE Mar 2019	136	+14.4%	Cons.
FYE Mar 2020	167	+23.2%	Cons.
FYE Mar 2021	184	+10.0%	Cons.
FYE Mar 2022	135	−26.6%	Cons.
FYE Mar 2023	166	+23.5%	Cons.
FYE Mar 2024	338	+102.8%	Cons.
FYE Mar 2025	388	+15.0%	Cons.
FYE Mar 2026	440	+13.3%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥14.4m

Change · 10 yrs +¥12.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons.
FYE Mar 2018	2.5	+12.6%	Cons.
FYE Mar 2019	3.9	+54.8%	Cons.
FYE Mar 2020	5.8	+48.2%	Cons.
FYE Mar 2021	6.2	+6.1%	Cons.
FYE Mar 2022	4.2	−31.2%	Cons.
FYE Mar 2023	5.1	+21.3%	Cons.
FYE Mar 2024	10.8	+109.9%	Cons.
FYE Mar 2025	11.9	+10.4%	Cons.
FYE Mar 2026	14.4	+20.6%	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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