Financials

Teikoku Sen-i: FYE Dec 2025 and ten years of results (50 metrics)

FYE Dec 2025 · Revenue¥34bnYoY +6.9%

FYE Dec 2025 · Operating profit¥4.1bnYoY +17.2%

FYE Dec 2025 · Net profit¥3.7bnYoY +15.0%

FYE Dec 2025 · Equity ratio79.2%YoY −1.1pp

FYE Dec 2025 · Group employees362YoY +18

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Dec 2016Consolidated	¥25bn	n/a	¥3.3bn	n/a	13.3%	¥2.4bn	Shiraiwa Tsuyoshi	—
FYE Dec 2017Consolidated	¥26bn	+2.3%	¥3.9bn	+16.5%	15.2%	¥2.9bn	Shiraiwa Tsuyoshi	—
FYE Dec 2018Consolidated	¥30bn	+15.7%	¥4.5bn	+15.1%	15.1%	¥3.4bn	Shiraiwa Tsuyoshi	Sparx files the first activist proposal
FYE Dec 2019Consolidated	¥35bn	+19.3%	¥5.6bn	+25.4%	15.9%	¥4.3bn	Shiraiwa Tsuyoshi	—
FYE Dec 2020Consolidated	¥32bn	−8.6%	¥4.2bn	−25.3%	13.0%	¥3.4bn	Shiraiwa Tsuyoshi	AVI targets the Hulic cross-holding
FYE Dec 2021Consolidated	¥33bn	+2.0%	¥4.9bn	+17.2%	14.9%	¥4.0bn	Shiraiwa Tsuyoshi	Shimotsuke works — first new plant since the war
FYE Dec 2022Consolidated	¥30bn	−9.4%	¥4.5bn	−9.2%	14.9%	¥3.7bn	Masutani Toru	—
FYE Dec 2023Consolidated	¥28bn	−6.3%	¥2.6bn	−42.0%	9.2%	¥2.4bn	Masutani Toru	—
FYE Dec 2024Consolidated	¥31bn	+12.3%	¥3.5bn	+33.8%	11.0%	¥3.3bn	Masutani Toru	—
FYE Dec 2025Consolidated	¥34bn	+6.9%	¥4.1bn	+17.2%	12.1%	¥3.7bn	Masutani Toru	—

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%

Teikoku Sen-i¥34bnFY2025Operating margin 12.1%

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 ¥34bn

CAGR · 10 yrs +3.3%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Dec 2016	25.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	25.6	+2.3%	Cons. · Japanese GAAP
FYE Dec 2018	29.7	+15.7%	Cons. · Japanese GAAP
FYE Dec 2019	35.4	+19.3%	Cons. · Japanese GAAP
FYE Dec 2020	32.3	−8.6%	Cons. · Japanese GAAP
FYE Dec 2021	33.0	+2.0%	Cons. · Japanese GAAP
FYE Dec 2022	29.9	−9.4%	Cons. · Japanese GAAP
FYE Dec 2023	28.0	−6.3%	Cons. · Japanese GAAP
FYE Dec 2024	31.5	+12.3%	Cons. · Japanese GAAP
FYE Dec 2025	33.6	+6.9%	Cons. · Japanese GAAP

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

Cost of sales

FYE Dec 2025 ¥24bn

CAGR · 10 yrs +3.4%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Dec 2016	17.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	17.6	−0.7%	Cons. · Japanese GAAP
FYE Dec 2018	20.6	+16.8%	Cons. · Japanese GAAP
FYE Dec 2019	24.8	+20.6%	Cons. · Japanese GAAP
FYE Dec 2020	23.7	−4.7%	Cons. · Japanese GAAP
FYE Dec 2021	23.3	−1.7%	Cons. · Japanese GAAP
FYE Dec 2022	20.6	−11.6%	Cons. · Japanese GAAP
FYE Dec 2023	20.4	−0.8%	Cons. · Japanese GAAP
FYE Dec 2024	22.8	+12.0%	Cons. · Japanese GAAP
FYE Dec 2025	24.0	+5.1%	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 ¥9.6bn

CAGR · 10 yrs +3.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Dec 2016	7.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	8.0	+9.5%	Cons. · Japanese GAAP
FYE Dec 2018	9.1	+13.4%	Cons. · Japanese GAAP
FYE Dec 2019	10.6	+16.6%	Cons. · Japanese GAAP
FYE Dec 2020	8.7	−18.0%	Cons. · Japanese GAAP
FYE Dec 2021	9.7	+12.1%	Cons. · Japanese GAAP
FYE Dec 2022	9.3	−4.0%	Cons. · Japanese GAAP
FYE Dec 2023	7.6	−18.2%	Cons. · Japanese GAAP
FYE Dec 2024	8.6	+13.0%	Cons. · Japanese GAAP
FYE Dec 2025	9.6	+11.6%	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 Dec 2025 ¥5.6bn

CAGR · 10 yrs +3.8%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Dec 2016	4.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.1	+3.5%	Cons. · Japanese GAAP
FYE Dec 2018	4.6	+11.8%	Cons. · Japanese GAAP
FYE Dec 2019	5.0	+8.0%	Cons. · Japanese GAAP
FYE Dec 2020	4.5	−9.7%	Cons. · Japanese GAAP
FYE Dec 2021	4.8	+7.4%	Cons. · Japanese GAAP
FYE Dec 2022	4.9	+1.3%	Cons. · Japanese GAAP
FYE Dec 2023	5.1	+3.6%	Cons. · Japanese GAAP
FYE Dec 2024	5.2	+2.3%	Cons. · Japanese GAAP
FYE Dec 2025	5.6	+7.9%	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 ¥4.1bn

CAGR · 10 yrs +2.2%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Dec 2016	3.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	3.9	+16.5%	Cons. · Japanese GAAP
FYE Dec 2018	4.5	+15.1%	Cons. · Japanese GAAP
FYE Dec 2019	5.6	+25.4%	Cons. · Japanese GAAP
FYE Dec 2020	4.2	−25.3%	Cons. · Japanese GAAP
FYE Dec 2021	4.9	+17.2%	Cons. · Japanese GAAP
FYE Dec 2022	4.5	−9.2%	Cons. · Japanese GAAP
FYE Dec 2023	2.6	−42.0%	Cons. · Japanese GAAP
FYE Dec 2024	3.5	+33.8%	Cons. · Japanese GAAP
FYE Dec 2025	4.1	+17.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Dec 2025 ¥1.3bn

CAGR · 10 yrs +14.2%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Dec 2016	0.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.4	+2.7%	Cons. · Japanese GAAP
FYE Dec 2018	0.6	+41.0%	Cons. · Japanese GAAP
FYE Dec 2019	0.6	+6.7%	Cons. · Japanese GAAP
FYE Dec 2020	0.7	+18.5%	Cons. · Japanese GAAP
FYE Dec 2021	0.8	+13.5%	Cons. · Japanese GAAP
FYE Dec 2022	0.9	+7.4%	Cons. · Japanese GAAP
FYE Dec 2023	1.0	+16.5%	Cons. · Japanese GAAP
FYE Dec 2024	1.1	+10.6%	Cons. · Japanese GAAP
FYE Dec 2025	1.3	+14.6%	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 ¥11.7m

CAGR · 10 yrs −12.0%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Dec 2016	37.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	50.5	+36.3%	Cons. · Japanese GAAP
FYE Dec 2018	36.8	−27.1%	Cons. · Japanese GAAP
FYE Dec 2019	8.9	−75.9%	Cons. · Japanese GAAP
FYE Dec 2020	26.9	+203.2%	Cons. · Japanese GAAP
FYE Dec 2021	14.3	−46.7%	Cons. · Japanese GAAP
FYE Dec 2022	18.9	+32.1%	Cons. · Japanese GAAP
FYE Dec 2023	13.1	−31.0%	Cons. · Japanese GAAP
FYE Dec 2024	9.1	−30.5%	Cons. · Japanese GAAP
FYE Dec 2025	11.7	+28.9%	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 ¥5.3bn

CAGR · 10 yrs +4.1%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Dec 2016	3.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.2	+14.9%	Cons. · Japanese GAAP
FYE Dec 2018	5.0	+18.0%	Cons. · Japanese GAAP
FYE Dec 2019	6.2	+24.1%	Cons. · Japanese GAAP
FYE Dec 2020	4.9	−21.5%	Cons. · Japanese GAAP
FYE Dec 2021	5.7	+17.0%	Cons. · Japanese GAAP
FYE Dec 2022	5.3	−7.0%	Cons. · Japanese GAAP
FYE Dec 2023	3.6	−32.6%	Cons. · Japanese GAAP
FYE Dec 2024	4.6	+27.6%	Cons. · Japanese GAAP
FYE Dec 2025	5.3	+16.6%	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 ¥0.6m

CAGR · 10 yrs +16.2%

Fiscal year	Extraordinary income ¥ m	YoY	Basis
FYE Dec 2016	0.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.9	+526.7%	Cons. · Japanese GAAP
FYE Dec 2018	306	+32406.4%	Cons. · Japanese GAAP
FYE Dec 2019	1.4	−99.6%	Cons. · Japanese GAAP
FYE Dec 2020	46.3	+3300.7%	Cons. · Japanese GAAP
FYE Dec 2021	389	+741.9%	Cons. · Japanese GAAP
FYE Dec 2022	376	−3.4%	Cons. · Japanese GAAP
FYE Dec 2023	20.1	−94.7%	Cons. · Japanese GAAP
FYE Dec 2024	87.1	+334.2%	Cons. · Japanese GAAP
FYE Dec 2025	0.6	−99.3%	Cons. · Japanese GAAP

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

Extraordinary loss

FYE Dec 2025 ¥3.4m

CAGR · 10 yrs −18.6%

Fiscal year	Extraordinary loss ¥ m	YoY	Basis
FYE Dec 2016	22.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	8.5	−61.6%	Cons. · Japanese GAAP
FYE Dec 2018	315	+3621.2%	Cons. · Japanese GAAP
FYE Dec 2019	3.2	−99.0%	Cons. · Japanese GAAP
FYE Dec 2020	45.2	+1298.1%	Cons. · Japanese GAAP
FYE Dec 2021	354	+683.0%	Cons. · Japanese GAAP
FYE Dec 2022	379	+7.3%	Cons. · Japanese GAAP
FYE Dec 2023	69.9	−81.6%	Cons. · Japanese GAAP
FYE Dec 2024	9.7	−86.1%	Cons. · Japanese GAAP
FYE Dec 2025	3.4	−64.6%	Cons. · Japanese GAAP

Definition: One-off losses, such as an impairment or a restructuring charge
Formula: Extraordinary loss line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Dec 2025 ¥3.7bn

CAGR · 10 yrs +5.1%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Dec 2016	2.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	2.9	+20.5%	Cons. · Japanese GAAP
FYE Dec 2018	3.4	+18.0%	Cons. · Japanese GAAP
FYE Dec 2019	4.3	+25.1%	Cons. · Japanese GAAP
FYE Dec 2020	3.4	−20.6%	Cons. · Japanese GAAP
FYE Dec 2021	4.0	+17.7%	Cons. · Japanese GAAP
FYE Dec 2022	3.7	−8.0%	Cons. · Japanese GAAP
FYE Dec 2023	2.4	−33.2%	Cons. · Japanese GAAP
FYE Dec 2024	3.3	+33.0%	Cons. · Japanese GAAP
FYE Dec 2025	3.7	+15.0%	Cons. · Japanese GAAP

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

Gross margin

FYE Dec 2025 28.6%

Average · 10 yrs 29.2%

Fiscal year	Gross margin %	YoY	Basis
FYE Dec 2016	29.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	31.2	+2.0pp	Cons. · Japanese GAAP
FYE Dec 2018	30.6	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2019	29.9	−0.7pp	Cons. · Japanese GAAP
FYE Dec 2020	26.8	−3.1pp	Cons. · Japanese GAAP
FYE Dec 2021	29.5	+2.7pp	Cons. · Japanese GAAP
FYE Dec 2022	31.2	+1.7pp	Cons. · Japanese GAAP
FYE Dec 2023	27.3	−4.0pp	Cons. · Japanese GAAP
FYE Dec 2024	27.4	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2025	28.6	+1.2pp	Cons. · Japanese GAAP

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

Operating margin

FYE Dec 2025 12.1%

Average · 10 yrs 13.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Dec 2016	13.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	15.2	+1.9pp	Cons. · Japanese GAAP
FYE Dec 2018	15.1	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2019	15.9	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2020	13.0	−2.9pp	Cons. · Japanese GAAP
FYE Dec 2021	14.9	+1.9pp	Cons. · Japanese GAAP
FYE Dec 2022	14.9	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2023	9.2	−5.7pp	Cons. · Japanese GAAP
FYE Dec 2024	11.0	+1.8pp	Cons. · Japanese GAAP
FYE Dec 2025	12.1	+1.1pp	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 15.8%

Average · 10 yrs 15.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Dec 2016	14.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	16.5	+1.8pp	Cons. · Japanese GAAP
FYE Dec 2018	16.8	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2019	17.5	+0.7pp	Cons. · Japanese GAAP
FYE Dec 2020	15.0	−2.5pp	Cons. · Japanese GAAP
FYE Dec 2021	17.3	+2.2pp	Cons. · Japanese GAAP
FYE Dec 2022	17.7	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2023	12.7	−5.0pp	Cons. · Japanese GAAP
FYE Dec 2024	14.5	+1.7pp	Cons. · Japanese GAAP
FYE Dec 2025	15.8	+1.3pp	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 11.1%

Average · 10 yrs 10.9%

Fiscal year	Net margin %	YoY	Basis
FYE Dec 2016	9.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	11.2	+1.7pp	Cons. · Japanese GAAP
FYE Dec 2018	11.5	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2019	12.0	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2020	10.5	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2021	12.1	+1.6pp	Cons. · Japanese GAAP
FYE Dec 2022	12.2	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2023	8.7	−3.5pp	Cons. · Japanese GAAP
FYE Dec 2024	10.3	+1.6pp	Cons. · Japanese GAAP
FYE Dec 2025	11.1	+0.8pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Dec 2025 71.4%

Average · 10 yrs 70.8%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Dec 2016	70.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	68.8	−2.0pp	Cons. · Japanese GAAP
FYE Dec 2018	69.4	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2019	70.1	+0.7pp	Cons. · Japanese GAAP
FYE Dec 2020	73.2	+3.1pp	Cons. · Japanese GAAP
FYE Dec 2021	70.5	−2.7pp	Cons. · Japanese GAAP
FYE Dec 2022	68.8	−1.7pp	Cons. · Japanese GAAP
FYE Dec 2023	72.7	+4.0pp	Cons. · Japanese GAAP
FYE Dec 2024	72.6	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2025	71.4	−1.2pp	Cons. · Japanese GAAP

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

SG&A ratio

FYE Dec 2025 16.6%

Average · 10 yrs 15.7%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Dec 2016	15.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	16.0	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2018	15.5	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2019	14.0	−1.5pp	Cons. · Japanese GAAP
FYE Dec 2020	13.9	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2021	14.6	+0.7pp	Cons. · Japanese GAAP
FYE Dec 2022	16.3	+1.7pp	Cons. · Japanese GAAP
FYE Dec 2023	18.0	+1.7pp	Cons. · Japanese GAAP
FYE Dec 2024	16.4	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2025	16.6	+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 Dec 2025 ¥91bn

CAGR · 10 yrs +5.2%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Dec 2016	57.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	64.7	+12.0%	Cons. · Japanese GAAP
FYE Dec 2018	62.1	−4.0%	Cons. · Japanese GAAP
FYE Dec 2019	72.5	+16.6%	Cons. · Japanese GAAP
FYE Dec 2020	68.5	−5.5%	Cons. · Japanese GAAP
FYE Dec 2021	74.3	+8.5%	Cons. · Japanese GAAP
FYE Dec 2022	72.1	−2.9%	Cons. · Japanese GAAP
FYE Dec 2023	79.2	+9.8%	Cons. · Japanese GAAP
FYE Dec 2024	82.9	+4.6%	Cons. · Japanese GAAP
FYE Dec 2025	91.3	+10.3%	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 ¥72bn

CAGR · 10 yrs +5.7%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Dec 2016	43.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	49.1	+11.8%	Cons. · Japanese GAAP
FYE Dec 2018	47.5	−3.2%	Cons. · Japanese GAAP
FYE Dec 2019	55.2	+16.1%	Cons. · Japanese GAAP
FYE Dec 2020	55.2	−0.0%	Cons. · Japanese GAAP
FYE Dec 2021	57.6	+4.5%	Cons. · Japanese GAAP
FYE Dec 2022	58.0	+0.7%	Cons. · Japanese GAAP
FYE Dec 2023	65.0	+12.0%	Cons. · Japanese GAAP
FYE Dec 2024	66.5	+2.4%	Cons. · Japanese GAAP
FYE Dec 2025	72.4	+8.8%	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 Dec 2025 ¥0.1bn

CAGR · 10 yrs −3.7%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Dec 2016	0.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.2	+154.5%	Cons. · Japanese GAAP
FYE Dec 2018	0.2	−22.1%	Cons. · Japanese GAAP
FYE Dec 2019	0.1	−49.6%	Cons. · Japanese GAAP
FYE Dec 2020	0.1	+27.2%	Cons. · Japanese GAAP
FYE Dec 2021	1.0	+945.0%	Cons. · Japanese GAAP
FYE Dec 2022	0.0	−95.7%	Cons. · Japanese GAAP
FYE Dec 2023	0.0	−100.0%	Cons. · Japanese GAAP
FYE Dec 2024	0.1	n/a	Cons. · Japanese GAAP
FYE Dec 2025	0.1	−44.0%	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 ¥0.0bn

CAGR · 9 yrs −7.0%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	0.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.0	−43.8%	Cons. · Japanese GAAP
FYE Dec 2018	0.1	+74.7%	Cons. · Japanese GAAP
FYE Dec 2019	0.1	+1.8%	Cons. · Japanese GAAP
FYE Dec 2020	0.0	−86.0%	Cons. · Japanese GAAP
FYE Dec 2021	1.0	+8990.9%	Cons. · Japanese GAAP
FYE Dec 2022	0.0	−95.5%	Cons. · Japanese GAAP
FYE Dec 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2024	0.0	n/a	Cons. · Japanese GAAP
FYE Dec 2025	0.0	−0.0%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Dec 2025 ¥12.0m

CAGR · 6 yrs −40.1%

Fiscal year	Long-term borrowings ¥ m	YoY	Basis
FYE Dec 2016	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2017	156	n/a	Cons. · Japanese GAAP
FYE Dec 2018	78.6	−49.6%	Cons. · Japanese GAAP
FYE Dec 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2020	89.0	n/a	Cons. · Japanese GAAP
FYE Dec 2021	45.0	−49.4%	Cons. · Japanese GAAP
FYE Dec 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2024	56.0	n/a	Cons. · Japanese GAAP
FYE Dec 2025	12.0	−78.6%	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 ¥59.0m

CAGR · 10 yrs +4.8%

Fiscal year	Intangible assets ¥ m	YoY	Basis
FYE Dec 2016	38.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	27.8	−28.0%	Cons. · Japanese GAAP
FYE Dec 2018	46.5	+67.1%	Cons. · Japanese GAAP
FYE Dec 2019	277	+496.1%	Cons. · Japanese GAAP
FYE Dec 2020	282	+1.7%	Cons. · Japanese GAAP
FYE Dec 2021	396	+40.7%	Cons. · Japanese GAAP
FYE Dec 2022	68.6	−82.7%	Cons. · Japanese GAAP
FYE Dec 2023	31.9	−53.4%	Cons. · Japanese GAAP
FYE Dec 2024	47.2	+47.9%	Cons. · Japanese GAAP
FYE Dec 2025	59.0	+25.1%	Cons. · Japanese GAAP

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

Equity ratio

FYE Dec 2025 79.2%

Average · 10 yrs 78.5%

Fiscal year	Equity ratio %	YoY	Basis
FYE Dec 2016	76.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	75.9	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2018	76.5	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2019	76.1	−0.4pp	Cons. · Japanese GAAP
FYE Dec 2020	80.6	+4.5pp	Cons. · Japanese GAAP
FYE Dec 2021	77.6	−3.0pp	Cons. · Japanese GAAP
FYE Dec 2022	80.4	+2.8pp	Cons. · Japanese GAAP
FYE Dec 2023	82.0	+1.6pp	Cons. · Japanese GAAP
FYE Dec 2024	80.3	−1.7pp	Cons. · Japanese GAAP
FYE Dec 2025	79.2	−1.1pp	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 0.1%

Average · 10 yrs 0.3%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Dec 2016	0.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.4	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2018	0.3	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2019	0.1	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2020	0.2	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2021	1.8	+1.6pp	Cons. · Japanese GAAP
FYE Dec 2022	0.1	−1.7pp	Cons. · Japanese GAAP
FYE Dec 2023	0.0	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2024	0.2	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2025	0.1	−0.1pp	Cons. · Japanese GAAP

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

ROE return on equity

FYE Dec 2025 5.2%

Average · 10 yrs 5.9%

Fiscal year	ROE %	YoY	Basis
FYE Dec 2016	5.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	5.9	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2018	7.2	+1.3pp	Cons. · Japanese GAAP
FYE Dec 2019	7.7	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2020	6.1	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2021	6.9	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2022	6.3	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2023	3.8	−2.5pp	Cons. · Japanese GAAP
FYE Dec 2024	4.9	+1.1pp	Cons. · Japanese GAAP
FYE Dec 2025	5.2	+0.3pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Dec 2025 4.1%

Average · 10 yrs 4.6%

Fiscal year	ROA %	YoY	Basis
FYE Dec 2016	4.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.5	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2018	5.5	+1.0pp	Cons. · Japanese GAAP
FYE Dec 2019	5.9	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2020	4.9	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2021	5.4	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2022	5.1	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2023	3.1	−2.0pp	Cons. · Japanese GAAP
FYE Dec 2024	3.9	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2025	4.1	+0.2pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Dec 2025 0.37×

CAGR · 10 yrs −1.8%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Dec 2016	0.43	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.40	−8.7%	Cons. · Japanese GAAP
FYE Dec 2018	0.48	+20.5%	Cons. · Japanese GAAP
FYE Dec 2019	0.49	+2.3%	Cons. · Japanese GAAP
FYE Dec 2020	0.47	−3.3%	Cons. · Japanese GAAP
FYE Dec 2021	0.44	−5.9%	Cons. · Japanese GAAP
FYE Dec 2022	0.41	−6.7%	Cons. · Japanese GAAP
FYE Dec 2023	0.35	−14.6%	Cons. · Japanese GAAP
FYE Dec 2024	0.38	+7.4%	Cons. · Japanese GAAP
FYE Dec 2025	0.37	−3.1%	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 ¥2.9bn

CAGR · 10 yrs +8.8%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Dec 2016	1.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.7	+21.9%	Cons. · Japanese GAAP
FYE Dec 2018	5.4	+228.4%	Cons. · Japanese GAAP
FYE Dec 2019	1.9	−65.2%	Cons. · Japanese GAAP
FYE Dec 2020	6.1	+222.1%	Cons. · Japanese GAAP
FYE Dec 2021	0.0	−99.7%	Cons. · Japanese GAAP
FYE Dec 2022	9.4	+48870.2%	Cons. · Japanese GAAP
FYE Dec 2023	-0.9	−109.9%	Cons. · Japanese GAAP
FYE Dec 2024	2.0	n/a	Cons. · Japanese GAAP
FYE Dec 2025	2.9	+48.9%	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 -¥0.8bn

Average · 10 yrs -¥1.2bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-2.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.5	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-3.6	−333.7%	Cons. · Japanese GAAP
FYE Dec 2019	1.5	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-4.2	−383.8%	Cons. · Japanese GAAP
FYE Dec 2021	-4.6	n/a	Cons. · Japanese GAAP
FYE Dec 2022	1.5	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-0.7	−148.8%	Cons. · Japanese GAAP
FYE Dec 2024	-0.0	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-0.8	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 -¥2.9bn

Average · 10 yrs -¥1.4bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-0.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-0.7	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-1.1	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-1.1	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-1.2	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-0.2	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-2.9	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-1.5	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-1.2	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-2.9	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 ¥12bn

CAGR · 10 yrs +8.6%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Dec 2016	5.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	8.2	+45.1%	Cons. · Japanese GAAP
FYE Dec 2018	8.9	+9.0%	Cons. · Japanese GAAP
FYE Dec 2019	11.2	+25.3%	Cons. · Japanese GAAP
FYE Dec 2020	11.9	+6.6%	Cons. · Japanese GAAP
FYE Dec 2021	7.1	−40.3%	Cons. · Japanese GAAP
FYE Dec 2022	15.2	+113.5%	Cons. · Japanese GAAP
FYE Dec 2023	12.0	−20.6%	Cons. · Japanese GAAP
FYE Dec 2024	12.7	+5.8%	Cons. · Japanese GAAP
FYE Dec 2025	11.9	−6.8%	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 ¥2.1bn

Average · 10 yrs ¥1.8bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Dec 2016	-1.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Dec 2018	1.8	−43.0%	Cons. · Japanese GAAP
FYE Dec 2019	3.4	+84.9%	Cons. · Japanese GAAP
FYE Dec 2020	1.9	−44.0%	Cons. · Japanese GAAP
FYE Dec 2021	-4.6	−343.0%	Cons. · Japanese GAAP
FYE Dec 2022	10.9	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-1.7	−115.1%	Cons. · Japanese GAAP
FYE Dec 2024	1.9	n/a	Cons. · Japanese GAAP
FYE Dec 2025	2.1	+6.0%	Cons. · Japanese GAAP

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

Operating cash flow margin

FYE Dec 2025 8.6%

Average · 10 yrs 9.8%

Fiscal year	OCF margin %	YoY	Basis
FYE Dec 2016	5.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	6.5	+1.0pp	Cons. · Japanese GAAP
FYE Dec 2018	18.3	+11.9pp	Cons. · Japanese GAAP
FYE Dec 2019	5.4	−13.0pp	Cons. · Japanese GAAP
FYE Dec 2020	18.9	+13.5pp	Cons. · Japanese GAAP
FYE Dec 2021	0.1	−18.8pp	Cons. · Japanese GAAP
FYE Dec 2022	31.6	+31.5pp	Cons. · Japanese GAAP
FYE Dec 2023	-3.3	−34.9pp	Cons. · Japanese GAAP
FYE Dec 2024	6.2	+9.5pp	Cons. · Japanese GAAP
FYE Dec 2025	8.6	+2.4pp	Cons. · Japanese GAAP

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

Net cash

FYE Dec 2025 ¥12bn

CAGR · 10 yrs +8.7%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Dec 2016	5.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	8.0	+43.6%	Cons. · Japanese GAAP
FYE Dec 2018	8.8	+9.8%	Cons. · Japanese GAAP
FYE Dec 2019	11.1	+26.6%	Cons. · Japanese GAAP
FYE Dec 2020	11.8	+6.4%	Cons. · Japanese GAAP
FYE Dec 2021	6.1	−48.6%	Cons. · Japanese GAAP
FYE Dec 2022	15.1	+149.6%	Cons. · Japanese GAAP
FYE Dec 2023	12.0	−20.4%	Cons. · Japanese GAAP
FYE Dec 2024	12.6	+5.0%	Cons. · Japanese GAAP
FYE Dec 2025	11.8	−6.5%	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Dec 2025 ¥91bn

Change · 10 yrs +¥50bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Dec 2016	41.5	n/a
FYE Dec 2017	61.5	n/a
FYE Dec 2018	59.1	n/a
FYE Dec 2019	64.3	n/a
FYE Dec 2020	65.3	n/a
FYE Dec 2021	63.6	n/a
FYE Dec 2022	41.4	n/a
FYE Dec 2023	56.1	n/a
FYE Dec 2024	65.1	n/a
FYE Dec 2025	91.0	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 3,299¥

Change · 10 yrs +1,769¥

Fiscal year	Share price ¥	Basis
FYE Dec 2016	1,530	n/a
FYE Dec 2017	2,262	n/a
FYE Dec 2018	2,173	n/a
FYE Dec 2019	2,362	n/a
FYE Dec 2020	2,389	n/a
FYE Dec 2021	2,320	n/a
FYE Dec 2022	1,510	n/a
FYE Dec 2023	2,043	n/a
FYE Dec 2024	2,366	n/a
FYE Dec 2025	3,299	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 27,584,400shares

Change · 10 yrs +463,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Dec 2016	27,121,400	Parent
FYE Dec 2017	27,170,400	Parent
FYE Dec 2018	27,218,400	Parent
FYE Dec 2019	27,218,400	Parent
FYE Dec 2020	27,354,400	Parent
FYE Dec 2021	27,394,400	Parent
FYE Dec 2022	27,444,400	Parent
FYE Dec 2023	27,444,400	Parent
FYE Dec 2024	27,524,400	Parent
FYE Dec 2025	27,584,400	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 145.41¥

Change · 10 yrs +54.00¥

Fiscal year	EPS ¥	Basis
FYE Dec 2016	91.41	Cons.
FYE Dec 2017	109.99	Cons.
FYE Dec 2018	129.63	Cons.
FYE Dec 2019	162.02	Cons.
FYE Dec 2020	128.16	Cons.
FYE Dec 2021	150.48	Cons.
FYE Dec 2022	139.31	Cons.
FYE Dec 2023	93.76	Cons.
FYE Dec 2024	124.48	Cons.
FYE Dec 2025	145.41	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 2,624.26¥

Change · 10 yrs +1,005.71¥

Fiscal year	BPS ¥	Basis
FYE Dec 2016	1,618.55	Cons. · Japanese GAAP
FYE Dec 2017	1,806.73	Cons. · Japanese GAAP
FYE Dec 2018	1,745.78	Cons. · Japanese GAAP
FYE Dec 2019	2,026.47	Cons. · Japanese GAAP
FYE Dec 2020	2,017.26	Cons. · Japanese GAAP
FYE Dec 2021	2,104.26	Cons. · Japanese GAAP
FYE Dec 2022	2,114.25	Cons. · Japanese GAAP
FYE Dec 2023	2,367.57	Cons. · Japanese GAAP
FYE Dec 2024	2,417.36	Cons. · Japanese GAAP
FYE Dec 2025	2,624.26	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Dec 2025 22.69×

Average · 10 yrs 17.70×

Fiscal year	PER ×	Basis
FYE Dec 2016	16.74	Cons.
FYE Dec 2017	20.57	Cons.
FYE Dec 2018	16.76	Cons.
FYE Dec 2019	14.58	Cons.
FYE Dec 2020	18.64	Cons.
FYE Dec 2021	15.42	Cons.
FYE Dec 2022	10.84	Cons.
FYE Dec 2023	21.79	Cons.
FYE Dec 2024	19.01	Cons.
FYE Dec 2025	22.69	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 1.17×

Average · 10 yrs 1.03×

Fiscal year	PBR ×	Basis
FYE Dec 2016	0.92	Cons.
FYE Dec 2017	1.22	Cons.
FYE Dec 2018	1.22	Cons.
FYE Dec 2019	1.14	Cons.
FYE Dec 2020	1.16	Cons.
FYE Dec 2021	1.08	Cons.
FYE Dec 2022	0.68	Cons.
FYE Dec 2023	0.82	Cons.
FYE Dec 2024	0.93	Cons.
FYE Dec 2025	1.17	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 362people

Change · 10 yrs +77 people

Fiscal year	Group employees people	YoY	Basis
FYE Dec 2016	285	n/a	Cons.
FYE Dec 2017	293	+2.8%	Cons.
FYE Dec 2018	313	+6.8%	Cons.
FYE Dec 2019	324	+3.5%	Cons.
FYE Dec 2020	340	+4.9%	Cons.
FYE Dec 2021	359	+5.6%	Cons.
FYE Dec 2022	354	−1.4%	Cons.
FYE Dec 2023	331	−6.5%	Cons.
FYE Dec 2024	344	+3.9%	Cons.
FYE Dec 2025	362	+5.2%	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 191people

Change · 10 yrs +64 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Dec 2016	127	n/a	Parent
FYE Dec 2017	137	+7.9%	Parent
FYE Dec 2018	147	+7.3%	Parent
FYE Dec 2019	150	+2.0%	Parent
FYE Dec 2020	161	+7.3%	Parent
FYE Dec 2021	177	+9.9%	Parent
FYE Dec 2022	180	+1.7%	Parent
FYE Dec 2023	170	−5.6%	Parent
FYE Dec 2024	177	+4.1%	Parent
FYE Dec 2025	191	+7.9%	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 768万円

Change · 7 yrs +80万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	688	n/a	Parent
FYE Dec 2020	661	−3.9%	Parent
FYE Dec 2021	698	+5.6%	Parent
FYE Dec 2022	689	−1.3%	Parent
FYE Dec 2023	685	−0.7%	Parent
FYE Dec 2024	723	+5.6%	Parent
FYE Dec 2025	768	+6.2%	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 40.9years

Change · 7 yrs +0.3 years

Fiscal year	Average age years	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	40.6	n/a	Parent
FYE Dec 2020	40.1	−1.2%	Parent
FYE Dec 2021	40.5	+1.0%	Parent
FYE Dec 2022	40.7	+0.5%	Parent
FYE Dec 2023	40.8	+0.2%	Parent
FYE Dec 2024	40.8	−0.0%	Parent
FYE Dec 2025	40.9	+0.2%	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 11.1years

Change · 7 yrs −1.9 years

Fiscal year	Average length of service years	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	13.0	n/a	Parent
FYE Dec 2020	12.2	−6.2%	Parent
FYE Dec 2021	11.9	−2.5%	Parent
FYE Dec 2022	11.6	−2.5%	Parent
FYE Dec 2023	11.4	−1.7%	Parent
FYE Dec 2024	11.4	−0.0%	Parent
FYE Dec 2025	11.1	−2.6%	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 92people

Change · 10 yrs −3 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Dec 2016	95	n/a	n/a
FYE Dec 2017	87	−8.4%	n/a
FYE Dec 2018	91	+4.6%	n/a
FYE Dec 2019	89	−2.2%	n/a
FYE Dec 2020	89	−0.0%	n/a
FYE Dec 2021	83	−6.7%	n/a
FYE Dec 2022	78	−6.0%	n/a
FYE Dec 2023	86	+10.3%	n/a
FYE Dec 2024	83	−3.5%	n/a
FYE Dec 2025	92	+10.8%	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 ¥92.9m

Change · 10 yrs +¥5.0m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Dec 2016	87.9	n/a	Cons.
FYE Dec 2017	87.5	−0.5%	Cons.
FYE Dec 2018	94.7	+8.3%	Cons.
FYE Dec 2019	109	+15.3%	Cons.
FYE Dec 2020	95.1	−12.9%	Cons.
FYE Dec 2021	91.9	−3.4%	Cons.
FYE Dec 2022	84.5	−8.1%	Cons.
FYE Dec 2023	84.7	+0.3%	Cons.
FYE Dec 2024	91.5	+8.1%	Cons.
FYE Dec 2025	92.9	+1.5%	Cons.

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

Operating profit per employee

FYE Dec 2025 ¥11.2m

Change · 10 yrs −¥0.5m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Dec 2016	11.7	n/a	Cons.
FYE Dec 2017	13.3	+13.4%	Cons.
FYE Dec 2018	14.3	+7.7%	Cons.
FYE Dec 2019	17.3	+21.1%	Cons.
FYE Dec 2020	12.3	−28.9%	Cons.
FYE Dec 2021	13.7	+11.0%	Cons.
FYE Dec 2022	12.6	−7.9%	Cons.
FYE Dec 2023	7.8	−38.0%	Cons.
FYE Dec 2024	10.1	+28.8%	Cons.
FYE Dec 2025	11.2	+11.4%	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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