Financials

Nomura Real Estate Holdings: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥943bnYoY +24.4%

FYE Mar 2026 · Operating profit¥138bnYoY +16.2%

FYE Mar 2026 · Net profit¥83bnYoY +10.8%

FYE Mar 2026 · Equity ratio28.5%YoY +0.6pp

FYE Mar 2026 · Group employees9,043YoY +311

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥570bn	n/a	¥77bn	n/a	13.6%	¥47bn	Kutsukake Eiji	—
FYE Mar 2018Consolidated	¥624bn	+9.5%	¥77bn	−0.8%	12.3%	¥46bn	Kutsukake Eiji	—
FYE Mar 2019Consolidated	¥669bn	+7.2%	¥79bn	+3.3%	11.8%	¥46bn	Kutsukake Eiji	—
FYE Mar 2020Consolidated	¥676bn	+1.2%	¥82bn	+3.5%	12.1%	¥49bn	Kutsukake Eiji	Housing 57% of revenue; offices earn a 22.2% margin
FYE Mar 2021Consolidated	¥581bn	−14.2%	¥76bn	−6.8%	13.1%	¥42bn	Kutsukake Eiji	—
FYE Mar 2022Consolidated	¥645bn	+11.1%	¥91bn	+19.5%	14.1%	¥55bn	Kutsukake Eiji	—
FYE Mar 2023Consolidated	¥655bn	+1.5%	¥100bn	+9.2%	15.2%	¥65bn	Kutsukake Eiji	Nine-year plan: ¥3tn of net investment; overseas and data centres
FYE Mar 2024Consolidated	¥735bn	+12.2%	¥112bn	+12.6%	15.3%	¥68bn	Kutsukake Eiji	<a class="en-history_person" href="/tse/3231/executives/ceo/arai-satoshi/" hreflang="ja">Arai Satoshi</a> becomes president; “Life & Time Developer”
FYE Mar 2025Consolidated	¥758bn	+3.1%	¥119bn	+6.1%	15.7%	¥75bn	Arai Satoshi	—
FYE Mar 2026Consolidated	¥943bn	+24.4%	¥138bn	+16.2%	14.7%	¥83bn	Arai Satoshi	Blue Front Shibaura S tower completed — 550,000 m²

How it compares

Mitsui Fudosan¥2.71tnFY2025Operating margin 14.7%Mitsubishi Estate¥1.75tnFY2025Operating margin 18.9%Tokyu Fudosan Holdings¥1.25tnFY2025Operating margin 13.4%Sumitomo Realty & Development¥1.06tnFY2025Operating margin 28.3%

Nomura Real Estate Holdings¥943bnFY2025Operating margin 14.7%

Hulic¥727bnFY2025Operating margin 25.7%Tokyo Tatemono¥475bnFY2025Operating margin 20.2%Mori Building Co., Ltd.¥411bnFY2025Operating margin 23.8%

DAIKYO INCORPORATEDDelisted 2019

Nihonkuukoubirudengu¥290bnFY2025Operating margin 15.5%

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 ¥943bn

CAGR · 10 yrs +5.8%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	570	n/a	Cons. · Japanese GAAP
FYE Mar 2018	624	+9.5%	Cons. · Japanese GAAP
FYE Mar 2019	669	+7.2%	Cons. · Japanese GAAP
FYE Mar 2020	676	+1.2%	Cons. · Japanese GAAP
FYE Mar 2021	581	−14.2%	Cons. · Japanese GAAP
FYE Mar 2022	645	+11.1%	Cons. · Japanese GAAP
FYE Mar 2023	655	+1.5%	Cons. · Japanese GAAP
FYE Mar 2024	735	+12.2%	Cons. · Japanese GAAP
FYE Mar 2025	758	+3.1%	Cons. · Japanese GAAP
FYE Mar 2026	943	+24.4%	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 ¥640bn

CAGR · 10 yrs +5.6%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	392	n/a	Cons. · Japanese GAAP
FYE Mar 2018	442	+12.6%	Cons. · Japanese GAAP
FYE Mar 2019	480	+8.6%	Cons. · Japanese GAAP
FYE Mar 2020	483	+0.6%	Cons. · Japanese GAAP
FYE Mar 2021	398	−17.6%	Cons. · Japanese GAAP
FYE Mar 2022	440	+10.6%	Cons. · Japanese GAAP
FYE Mar 2023	432	−1.7%	Cons. · Japanese GAAP
FYE Mar 2024	490	+13.5%	Cons. · Japanese GAAP
FYE Mar 2025	491	+0.2%	Cons. · Japanese GAAP
FYE Mar 2026	640	+30.3%	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 ¥303bn

CAGR · 10 yrs +6.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	177	n/a	Cons. · Japanese GAAP
FYE Mar 2018	182	+2.7%	Cons. · Japanese GAAP
FYE Mar 2019	189	+3.7%	Cons. · Japanese GAAP
FYE Mar 2020	194	+2.7%	Cons. · Japanese GAAP
FYE Mar 2021	183	−5.5%	Cons. · Japanese GAAP
FYE Mar 2022	205	+12.2%	Cons. · Japanese GAAP
FYE Mar 2023	223	+8.5%	Cons. · Japanese GAAP
FYE Mar 2024	244	+9.8%	Cons. · Japanese GAAP
FYE Mar 2025	267	+9.1%	Cons. · Japanese GAAP
FYE Mar 2026	303	+13.5%	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 Mar 2026 ¥164bn

CAGR · 10 yrs +5.7%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	100.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	105	+5.4%	Cons. · Japanese GAAP
FYE Mar 2019	110	+3.9%	Cons. · Japanese GAAP
FYE Mar 2020	112	+2.1%	Cons. · Japanese GAAP
FYE Mar 2021	107	−4.6%	Cons. · Japanese GAAP
FYE Mar 2022	114	+6.9%	Cons. · Japanese GAAP
FYE Mar 2023	123	+7.9%	Cons. · Japanese GAAP
FYE Mar 2024	132	+7.5%	Cons. · Japanese GAAP
FYE Mar 2025	148	+11.6%	Cons. · Japanese GAAP
FYE Mar 2026	164	+11.3%	Cons. · Japanese GAAP

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

Operating profit

FYE Mar 2026 ¥138bn

CAGR · 10 yrs +6.7%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	77.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	76.7	−0.8%	Cons. · Japanese GAAP
FYE Mar 2019	79.2	+3.3%	Cons. · Japanese GAAP
FYE Mar 2020	81.9	+3.5%	Cons. · Japanese GAAP
FYE Mar 2021	76.3	−6.8%	Cons. · Japanese GAAP
FYE Mar 2022	91.2	+19.5%	Cons. · Japanese GAAP
FYE Mar 2023	99.6	+9.2%	Cons. · Japanese GAAP
FYE Mar 2024	112	+12.6%	Cons. · Japanese GAAP
FYE Mar 2025	119	+6.1%	Cons. · Japanese GAAP
FYE Mar 2026	138	+16.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥8.2bn

CAGR · 10 yrs +31.4%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	+10.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.7	−3.5%	Cons. · Japanese GAAP
FYE Mar 2020	1.4	+81.0%	Cons. · Japanese GAAP
FYE Mar 2021	0.7	−44.7%	Cons. · Japanese GAAP
FYE Mar 2022	1.8	+147.1%	Cons. · Japanese GAAP
FYE Mar 2023	6.1	+227.7%	Cons. · Japanese GAAP
FYE Mar 2024	1.9	−68.4%	Cons. · Japanese GAAP
FYE Mar 2025	5.9	+208.7%	Cons. · Japanese GAAP
FYE Mar 2026	8.2	+38.3%	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 ¥22bn

CAGR · 10 yrs +10.2%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	9.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.4	+4.2%	Cons. · Japanese GAAP
FYE Mar 2019	10.6	+12.6%	Cons. · Japanese GAAP
FYE Mar 2020	10.2	−3.8%	Cons. · Japanese GAAP
FYE Mar 2021	11.1	+9.2%	Cons. · Japanese GAAP
FYE Mar 2022	10.5	−5.5%	Cons. · Japanese GAAP
FYE Mar 2023	11.5	+9.8%	Cons. · Japanese GAAP
FYE Mar 2024	15.8	+36.9%	Cons. · Japanese GAAP
FYE Mar 2025	18.1	+14.8%	Cons. · Japanese GAAP
FYE Mar 2026	21.6	+19.2%	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 ¥125bn

CAGR · 10 yrs +6.8%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	69.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	68.0	−1.3%	Cons. · Japanese GAAP
FYE Mar 2019	69.3	+1.9%	Cons. · Japanese GAAP
FYE Mar 2020	73.1	+5.4%	Cons. · Japanese GAAP
FYE Mar 2021	66.0	−9.7%	Cons. · Japanese GAAP
FYE Mar 2022	82.6	+25.2%	Cons. · Japanese GAAP
FYE Mar 2023	94.1	+14.0%	Cons. · Japanese GAAP
FYE Mar 2024	98.2	+4.4%	Cons. · Japanese GAAP
FYE Mar 2025	107	+8.6%	Cons. · Japanese GAAP
FYE Mar 2026	125	+16.9%	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 ¥19bn

CAGR · 7 yrs +65.6%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.8	+298.1%	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	0.6	+43.8%	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	6.9	n/a	Cons. · Japanese GAAP
FYE Mar 2024	6.0	−12.9%	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	19.5	n/a	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥83bn

CAGR · 10 yrs +6.5%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	47.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	46.0	−2.1%	Cons. · Japanese GAAP
FYE Mar 2019	45.9	−0.3%	Cons. · Japanese GAAP
FYE Mar 2020	48.9	+6.6%	Cons. · Japanese GAAP
FYE Mar 2021	42.2	−13.7%	Cons. · Japanese GAAP
FYE Mar 2022	55.3	+31.1%	Cons. · Japanese GAAP
FYE Mar 2023	64.5	+16.6%	Cons. · Japanese GAAP
FYE Mar 2024	68.2	+5.6%	Cons. · Japanese GAAP
FYE Mar 2025	74.8	+9.8%	Cons. · Japanese GAAP
FYE Mar 2026	82.9	+10.8%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 32.1%

Average · 10 yrs 31.5%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	31.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.2	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2019	28.2	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	28.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	31.5	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2022	31.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	34.0	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	33.3	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	35.2	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	32.1	−3.1pp	Cons. · Japanese GAAP

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

Operating margin

FYE Mar 2026 14.7%

Average · 10 yrs 13.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	13.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.3	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	11.8	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	12.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	13.1	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	14.1	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	15.2	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	15.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	15.7	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	14.7	−1.0pp	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 13.2%

Average · 10 yrs 12.3%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	12.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.9	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	10.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	10.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	11.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	12.8	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	14.4	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2024	13.4	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	14.1	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	13.2	−0.8pp	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 8.8%

Average · 10 yrs 8.3%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	8.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.4	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	6.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	7.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	7.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	8.6	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2023	9.9	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2024	9.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	9.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	8.8	−1.1pp	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 67.9%

Average · 10 yrs 68.5%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	68.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	70.8	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2019	71.8	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	71.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	68.5	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2022	68.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	66.0	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	66.7	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	64.8	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	67.9	+3.1pp	Cons. · Japanese GAAP

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

SG&A ratio

FYE Mar 2026 17.4%

Average · 10 yrs 17.7%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	17.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.9	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	16.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	16.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	18.4	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	17.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	18.8	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	18.0	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	19.5	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	17.4	−2.1pp	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 ¥2.81tn

CAGR · 10 yrs +6.5%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	1,593	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,673	+5.0%	Cons. · Japanese GAAP
FYE Mar 2019	1,759	+5.2%	Cons. · Japanese GAAP
FYE Mar 2020	1,801	+2.4%	Cons. · Japanese GAAP
FYE Mar 2021	1,921	+6.7%	Cons. · Japanese GAAP
FYE Mar 2022	2,041	+6.2%	Cons. · Japanese GAAP
FYE Mar 2023	2,111	+3.4%	Cons. · Japanese GAAP
FYE Mar 2024	2,251	+6.7%	Cons. · Japanese GAAP
FYE Mar 2025	2,687	+19.3%	Cons. · Japanese GAAP
FYE Mar 2026	2,812	+4.7%	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 ¥801bn

CAGR · 10 yrs +5.8%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	483	n/a	Cons. · Japanese GAAP
FYE Mar 2018	504	+4.3%	Cons. · Japanese GAAP
FYE Mar 2019	529	+5.0%	Cons. · Japanese GAAP
FYE Mar 2020	552	+4.3%	Cons. · Japanese GAAP
FYE Mar 2021	585	+5.9%	Cons. · Japanese GAAP
FYE Mar 2022	620	+6.0%	Cons. · Japanese GAAP
FYE Mar 2023	654	+5.5%	Cons. · Japanese GAAP
FYE Mar 2024	691	+5.7%	Cons. · Japanese GAAP
FYE Mar 2025	750	+8.5%	Cons. · Japanese GAAP
FYE Mar 2026	801	+6.8%	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 ¥1.36tn

CAGR · 10 yrs +7.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	730	n/a	Cons. · Japanese GAAP
FYE Mar 2018	738	+1.1%	Cons. · Japanese GAAP
FYE Mar 2019	774	+4.9%	Cons. · Japanese GAAP
FYE Mar 2020	730	−5.7%	Cons. · Japanese GAAP
FYE Mar 2021	839	+14.9%	Cons. · Japanese GAAP
FYE Mar 2022	863	+2.9%	Cons. · Japanese GAAP
FYE Mar 2023	972	+12.6%	Cons. · Japanese GAAP
FYE Mar 2024	1,043	+7.3%	Cons. · Japanese GAAP
FYE Mar 2025	1,265	+21.3%	Cons. · Japanese GAAP
FYE Mar 2026	1,356	+7.2%	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 ¥143bn

CAGR · 10 yrs +3.3%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	106	n/a	Cons. · Japanese GAAP
FYE Mar 2018	102	−3.8%	Cons. · Japanese GAAP
FYE Mar 2019	79.5	−22.3%	Cons. · Japanese GAAP
FYE Mar 2020	72.0	−9.4%	Cons. · Japanese GAAP
FYE Mar 2021	87.0	+20.8%	Cons. · Japanese GAAP
FYE Mar 2022	109	+24.7%	Cons. · Japanese GAAP
FYE Mar 2023	118	+8.6%	Cons. · Japanese GAAP
FYE Mar 2024	97.7	−17.1%	Cons. · Japanese GAAP
FYE Mar 2025	212	+116.8%	Cons. · Japanese GAAP
FYE Mar 2026	143	−32.7%	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 ¥1.21tn

CAGR · 10 yrs +7.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	624	n/a	Cons. · Japanese GAAP
FYE Mar 2018	636	+1.9%	Cons. · Japanese GAAP
FYE Mar 2019	695	+9.3%	Cons. · Japanese GAAP
FYE Mar 2020	658	−5.3%	Cons. · Japanese GAAP
FYE Mar 2021	752	+14.2%	Cons. · Japanese GAAP
FYE Mar 2022	754	+0.4%	Cons. · Japanese GAAP
FYE Mar 2023	854	+13.2%	Cons. · Japanese GAAP
FYE Mar 2024	945	+10.7%	Cons. · Japanese GAAP
FYE Mar 2025	1,054	+11.5%	Cons. · Japanese GAAP
FYE Mar 2026	1,214	+15.2%	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 ¥39bn

CAGR · 10 yrs +15.1%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	11.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.4	+12.6%	Cons. · Japanese GAAP
FYE Mar 2019	18.1	+46.4%	Cons. · Japanese GAAP
FYE Mar 2020	20.2	+11.7%	Cons. · Japanese GAAP
FYE Mar 2021	18.5	−8.7%	Cons. · Japanese GAAP
FYE Mar 2022	19.9	+7.9%	Cons. · Japanese GAAP
FYE Mar 2023	20.4	+2.3%	Cons. · Japanese GAAP
FYE Mar 2024	17.3	−15.0%	Cons. · Japanese GAAP
FYE Mar 2025	36.3	+109.3%	Cons. · Japanese GAAP
FYE Mar 2026	38.8	+7.0%	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 ¥17bn

CAGR · 10 yrs +21.4%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.7	−9.0%	Cons. · Japanese GAAP
FYE Mar 2019	4.5	+67.2%	Cons. · Japanese GAAP
FYE Mar 2020	4.6	+2.8%	Cons. · Japanese GAAP
FYE Mar 2021	4.2	−9.8%	Cons. · Japanese GAAP
FYE Mar 2022	4.0	−3.8%	Cons. · Japanese GAAP
FYE Mar 2023	3.7	−8.3%	Cons. · Japanese GAAP
FYE Mar 2024	2.2	−40.7%	Cons. · Japanese GAAP
FYE Mar 2025	18.3	+740.5%	Cons. · Japanese GAAP
FYE Mar 2026	16.9	−7.7%	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 28.5%

Average · 10 yrs 30.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	30.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	30.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	30.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	30.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	30.4	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	31.0	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	30.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	27.9	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2026	28.5	+0.6pp	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 169.3%

Average · 10 yrs 149.6%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	151.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	146.4	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2019	146.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	132.2	−14.0pp	Cons. · Japanese GAAP
FYE Mar 2021	143.4	+11.2pp	Cons. · Japanese GAAP
FYE Mar 2022	139.2	−4.2pp	Cons. · Japanese GAAP
FYE Mar 2023	148.6	+9.3pp	Cons. · Japanese GAAP
FYE Mar 2024	150.8	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2025	168.7	+17.8pp	Cons. · Japanese GAAP
FYE Mar 2026	169.3	+0.6pp	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 9.3%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	9.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	8.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	8.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	7.2	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	8.9	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2023	9.9	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	9.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	10.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	10.3	+0.4pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 2.9%

Average · 10 yrs 2.8%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	2.6	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	2.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	2.2	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	2.7	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	3.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	3.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	2.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	2.9	+0.2pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.34×

CAGR · 10 yrs −0.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.36	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.37	+4.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.38	+1.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.38	−1.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.30	−19.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.32	+4.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.31	−1.9%	Cons. · Japanese GAAP
FYE Mar 2024	0.33	+5.2%	Cons. · Japanese GAAP
FYE Mar 2025	0.28	−13.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.34	+18.9%	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 ¥45bn

Average · 10 yrs ¥6.5bn

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-31.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	90.0	+318.5%	Cons. · Japanese GAAP
FYE Mar 2020	56.6	−37.1%	Cons. · Japanese GAAP
FYE Mar 2021	-63.5	−212.2%	Cons. · Japanese GAAP
FYE Mar 2022	52.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-42.8	−181.1%	Cons. · Japanese GAAP
FYE Mar 2024	70.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-134	−288.8%	Cons. · Japanese GAAP
FYE Mar 2026	44.9	n/a	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 -¥59bn

Average · 10 yrs -¥69bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-54.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-51.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-46.7	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-30.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-55.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-46.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-62.9	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-83.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-203	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-59.1	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 ¥16bn

CAGR · 10 yrs −16.2%

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	76.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	43.8	−42.8%	Cons. · Japanese GAAP
FYE Mar 2019	13.7	−68.7%	Cons. · Japanese GAAP
FYE Mar 2020	-66.8	−586.9%	Cons. · Japanese GAAP
FYE Mar 2021	112	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-9.6	−108.6%	Cons. · Japanese GAAP
FYE Mar 2023	65.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	39.9	−39.2%	Cons. · Japanese GAAP
FYE Mar 2025	318	+697.7%	Cons. · Japanese GAAP
FYE Mar 2026	15.6	−95.1%	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 ¥37bn

CAGR · 10 yrs −2.8%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	47.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	61.3	+28.6%	Cons. · Japanese GAAP
FYE Mar 2019	118	+92.9%	Cons. · Japanese GAAP
FYE Mar 2020	77.6	−34.4%	Cons. · Japanese GAAP
FYE Mar 2021	70.6	−9.0%	Cons. · Japanese GAAP
FYE Mar 2022	67.8	−4.0%	Cons. · Japanese GAAP
FYE Mar 2023	27.8	−59.0%	Cons. · Japanese GAAP
FYE Mar 2024	53.8	+93.8%	Cons. · Japanese GAAP
FYE Mar 2025	35.9	−33.3%	Cons. · Japanese GAAP
FYE Mar 2026	36.8	+2.6%	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 -¥14bn

Average · 10 yrs -¥63bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-86.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-30.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	43.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	26.1	−39.6%	Cons. · Japanese GAAP
FYE Mar 2021	-119	−556.6%	Cons. · Japanese GAAP
FYE Mar 2022	6.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-106	−1722.2%	Cons. · Japanese GAAP
FYE Mar 2024	-12.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-337	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-14.2	n/a	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 4.8%

Average · 10 yrs 0.7%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	-5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.4	+9.0pp	Cons. · Japanese GAAP
FYE Mar 2019	13.5	+10.0pp	Cons. · Japanese GAAP
FYE Mar 2020	8.4	−5.1pp	Cons. · Japanese GAAP
FYE Mar 2021	-10.9	−19.3pp	Cons. · Japanese GAAP
FYE Mar 2022	8.2	+19.1pp	Cons. · Japanese GAAP
FYE Mar 2023	-6.5	−14.7pp	Cons. · Japanese GAAP
FYE Mar 2024	9.6	+16.2pp	Cons. · Japanese GAAP
FYE Mar 2025	-17.7	−27.3pp	Cons. · Japanese GAAP
FYE Mar 2026	4.8	+22.4pp	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 -¥1.32tn

Average · 10 yrs -¥871bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-682	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-676	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-656	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-652	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-768	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-795	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-944	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-989	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-1,229	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-1,320	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 Mar 2026 ¥932bn

Change · 10 yrs +¥593bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	339	n/a
FYE Mar 2018	481	n/a
FYE Mar 2019	407	n/a
FYE Mar 2020	340	n/a
FYE Mar 2021	516	n/a
FYE Mar 2022	534	n/a
FYE Mar 2023	535	n/a
FYE Mar 2024	805	n/a
FYE Mar 2025	796	n/a
FYE Mar 2026	932	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 1,015¥

Change · 10 yrs −749¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,765	n/a
FYE Mar 2018	2,505	n/a
FYE Mar 2019	2,116	n/a
FYE Mar 2020	1,764	n/a
FYE Mar 2021	2,674	n/a
FYE Mar 2022	2,924	n/a
FYE Mar 2023	2,922	n/a
FYE Mar 2024	4,394	n/a
FYE Mar 2025	4,339	n/a
FYE Mar 2026	1,015	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 917,927,000shares

Change · 10 yrs +726,050,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	191,877,000	Parent
FYE Mar 2018	192,155,000	Parent
FYE Mar 2019	192,373,000	Parent
FYE Mar 2020	192,875,000	Parent
FYE Mar 2021	193,099,000	Parent
FYE Mar 2022	182,604,000	Parent
FYE Mar 2023	182,938,000	Parent
FYE Mar 2024	183,268,000	Parent
FYE Mar 2025	183,477,000	Parent
FYE Mar 2026	917,927,000	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 96.69¥

Change · 10 yrs −148.41¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	245.10	Cons.
FYE Mar 2018	240.89	Cons.
FYE Mar 2019	245.99	Cons.
FYE Mar 2020	267.21	Cons.
FYE Mar 2021	46.51	Cons.
FYE Mar 2022	61.56	Cons.
FYE Mar 2023	73.05	Cons.
FYE Mar 2024	78.46	Cons.
FYE Mar 2025	86.77	Cons.
FYE Mar 2026	96.69	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 872.96¥

Change · 10 yrs −1,646.10¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	2,519.07	Cons. · Japanese GAAP
FYE Mar 2018	2,622.44	Cons. · Japanese GAAP
FYE Mar 2019	2,750.36	Cons. · Japanese GAAP
FYE Mar 2020	2,862.11	Cons. · Japanese GAAP
FYE Mar 2021	3,028.16	Cons. · Japanese GAAP
FYE Mar 2022	3,393.63	Cons. · Japanese GAAP
FYE Mar 2023	3,574.79	Cons. · Japanese GAAP
FYE Mar 2024	3,772.00	Cons. · Japanese GAAP
FYE Mar 2025	4,088.68	Cons. · Japanese GAAP
FYE Mar 2026	872.96	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 10.50×

Average · 10 yrs 9.35×

Fiscal year	PER ×	Basis
FYE Mar 2017	7.20	Cons.
FYE Mar 2018	10.40	Cons.
FYE Mar 2019	8.60	Cons.
FYE Mar 2020	6.60	Cons.
FYE Mar 2021	11.50	Cons.
FYE Mar 2022	9.50	Cons.
FYE Mar 2023	8.00	Cons.
FYE Mar 2024	11.20	Cons.
FYE Mar 2025	10.00	Cons.
FYE Mar 2026	10.50	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 1.08×

Average · 10 yrs 0.86×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.70	Cons.
FYE Mar 2018	0.94	Cons.
FYE Mar 2019	0.74	Cons.
FYE Mar 2020	0.58	Cons.
FYE Mar 2021	0.83	Cons.
FYE Mar 2022	0.84	Cons.
FYE Mar 2023	0.78	Cons.
FYE Mar 2024	1.10	Cons.
FYE Mar 2025	0.99	Cons.
FYE Mar 2026	1.08	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 9,043people

Change · 10 yrs +2,576 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	6,467	n/a	Cons.
FYE Mar 2018	6,636	+2.6%	Cons.
FYE Mar 2019	6,980	+5.2%	Cons.
FYE Mar 2020	7,176	+2.8%	Cons.
FYE Mar 2021	7,390	+3.0%	Cons.
FYE Mar 2022	7,548	+2.1%	Cons.
FYE Mar 2023	7,695	+1.9%	Cons.
FYE Mar 2024	7,929	+3.0%	Cons.
FYE Mar 2025	8,732	+10.1%	Cons.
FYE Mar 2026	9,043	+3.6%	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 427people

Change · 10 yrs +396 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	31	n/a	Parent
FYE Mar 2018	24	−22.6%	Parent
FYE Mar 2019	31	+29.2%	Parent
FYE Mar 2020	253	+716.1%	Parent
FYE Mar 2021	261	+3.2%	Parent
FYE Mar 2022	283	+8.4%	Parent
FYE Mar 2023	320	+13.1%	Parent
FYE Mar 2024	358	+11.9%	Parent
FYE Mar 2025	403	+12.6%	Parent
FYE Mar 2026	427	+6.0%	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 1,248万円

Change · 8 yrs +226万円

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 Mar 2019	1,022	n/a	Parent
FYE Mar 2020	946	−7.4%	Parent
FYE Mar 2021	1,012	+6.9%	Parent
FYE Mar 2022	1,018	+0.6%	Parent
FYE Mar 2023	1,034	+1.6%	Parent
FYE Mar 2024	1,091	+5.5%	Parent
FYE Mar 2025	1,183	+8.5%	Parent
FYE Mar 2026	1,248	+5.5%	Parent

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

Average age

FYE Mar 2026 41.9years

Change · 8 yrs −3.1 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	45.0	n/a	Parent
FYE Mar 2020	47.8	+6.2%	Parent
FYE Mar 2021	43.1	−9.8%	Parent
FYE Mar 2022	42.0	−2.6%	Parent
FYE Mar 2023	41.6	−1.0%	Parent
FYE Mar 2024	41.2	−1.0%	Parent
FYE Mar 2025	41.7	+1.2%	Parent
FYE Mar 2026	41.9	+0.5%	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 13.5years

Change · 8 yrs +11.0 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	2.5	n/a	Parent
FYE Mar 2020	2.8	+12.0%	Parent
FYE Mar 2021	15.4	+450.0%	Parent
FYE Mar 2022	13.9	−9.7%	Parent
FYE Mar 2023	12.7	−8.6%	Parent
FYE Mar 2024	12.9	+1.6%	Parent
FYE Mar 2025	13.5	+4.7%	Parent
FYE Mar 2026	13.5	−0.0%	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 4,301people

Change · 10 yrs +934 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	3,367	n/a	n/a
FYE Mar 2018	3,483	+3.4%	n/a
FYE Mar 2019	3,646	+4.7%	n/a
FYE Mar 2020	3,720	+2.0%	n/a
FYE Mar 2021	3,578	−3.8%	n/a
FYE Mar 2022	3,581	+0.1%	n/a
FYE Mar 2023	3,697	+3.2%	n/a
FYE Mar 2024	3,684	−0.4%	n/a
FYE Mar 2025	4,172	+13.2%	n/a
FYE Mar 2026	4,301	+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 Mar 2026 ¥104m

Change · 10 yrs +¥16.1m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	88.1	n/a	Cons.
FYE Mar 2018	94.0	+6.7%	Cons.
FYE Mar 2019	95.8	+1.9%	Cons.
FYE Mar 2020	94.3	−1.6%	Cons.
FYE Mar 2021	78.6	−16.7%	Cons.
FYE Mar 2022	85.5	+8.8%	Cons.
FYE Mar 2023	85.1	−0.4%	Cons.
FYE Mar 2024	92.7	+8.9%	Cons.
FYE Mar 2025	86.8	−6.4%	Cons.
FYE Mar 2026	104	+20.1%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥15.3m

Change · 10 yrs +¥3.3m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	11.9	n/a	Cons.
FYE Mar 2018	11.6	−3.3%	Cons.
FYE Mar 2019	11.3	−1.8%	Cons.
FYE Mar 2020	11.4	+0.6%	Cons.
FYE Mar 2021	10.3	−9.5%	Cons.
FYE Mar 2022	12.1	+17.0%	Cons.
FYE Mar 2023	12.9	+7.1%	Cons.
FYE Mar 2024	14.1	+9.2%	Cons.
FYE Mar 2025	13.6	−3.7%	Cons.
FYE Mar 2026	15.3	+12.2%	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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