Financials

Toray Industries: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥2.59tnYoY +0.9%

FYE Mar 2026 · Operating profit¥97bnYoY −23.7%

FYE Mar 2026 · Net profit¥80bnYoY +2.1%

FYE Mar 2026 · Equity ratio48.1%YoY −0.4pp

FYE Mar 2026 · Group employees46,294YoY −1,620

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥2.03tn	n/a	¥147bn	n/a	7.2%	¥99bn	Nikkaku Akihiro	—
FYE Mar 2018Consolidated	¥2.20tn	+8.8%	¥156bn	+6.5%	7.1%	¥96bn	Nikkaku Akihiro	—
FYE Mar 2019Consolidated	¥2.39tn	+8.3%	¥141bn	−9.6%	5.9%	¥79bn	Nikkaku Akihiro	TenCate Advanced Composites bought for about ¥117bn
FYE Mar 2020Consolidated	¥2.09tn	−12.5%	¥115bn	−18.9%	5.5%	¥56bn	Nikkaku Akihiro	—
FYE Mar 2021Consolidated	¥1.88tn	−9.9%	¥56bn	−51.3%	3.0%	¥39bn	Nikkaku Akihiro	Workforce reductions carried out
FYE Mar 2022Consolidated	¥2.23tn	+18.3%	¥101bn	+80.0%	4.5%	¥84bn	Nikkaku Akihiro	—
FYE Mar 2023Consolidated	¥2.49tn	+11.7%	¥109bn	+8.4%	4.4%	¥73bn	Nikkaku Akihiro	—
FYE Mar 2024Consolidated	¥2.46tn	−1.0%	¥58bn	−47.1%	2.3%	¥22bn	Nikkaku Akihiro	Tokyo Stock Exchange calls for management conscious of the cost of capital
FYE Mar 2025Consolidated	¥2.56tn	+4.0%	¥127bn	+121.1%	5.0%	¥78bn	Oya Mitsuo	Structural reform programme “D-Pro” launched
FYE Mar 2026Consolidated	¥2.59tn	+0.9%	¥97bn	−23.7%	3.8%	¥80bn	Oya Mitsuo	—

How it compares

Asahi Kasei¥3.07tnFY2025Operating margin 7.5%

Toray Industries¥2.59tnFY2025Operating margin 3.8%

Teijin¥873bnFY2025Operating margin −8.1%Kuraray¥808bnFY2025Operating margin 7.3%

Mitsubishi Rayon Co., Ltd.Delisted 2010

ATSUGI CO., LTD.¥21bnFY2025Operating margin −4.7%

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

Where the revenue goes

¥ bn

Cost of sales SG&A Other operating costs Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥2.59tn

CAGR · 10 yrs +2.7%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	2,026	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,205	+8.8%	Cons. · Japanese GAAP
FYE Mar 2019	2,389	+8.3%	Cons. · Japanese GAAP
FYE Mar 2020	2,091	−12.5%	Cons. · Japanese GAAP
FYE Mar 2021	1,884	moved to IFRS	Cons. · IFRS
FYE Mar 2022	2,229	+18.3%	Cons. · IFRS
FYE Mar 2023	2,489	+11.7%	Cons. · IFRS
FYE Mar 2024	2,465	−1.0%	Cons. · IFRS
FYE Mar 2025	2,563	+4.0%	Cons. · IFRS
FYE Mar 2026	2,585	+0.9%	Cons. · IFRS

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 ¥2.07tn

CAGR · 10 yrs +2.9%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,596	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,748	+9.5%	Cons. · Japanese GAAP
FYE Mar 2019	1,935	+10.7%	Cons. · Japanese GAAP
FYE Mar 2020	1,662	−14.1%	Cons. · Japanese GAAP
FYE Mar 2021	1,506	moved to IFRS	Cons. · IFRS
FYE Mar 2022	1,793	+19.0%	Cons. · IFRS
FYE Mar 2023	2,068	+15.4%	Cons. · IFRS
FYE Mar 2024	2,021	−2.3%	Cons. · IFRS
FYE Mar 2025	2,057	+1.8%	Cons. · IFRS
FYE Mar 2026	2,065	+0.4%	Cons. · IFRS

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 ¥520bn

CAGR · 10 yrs +2.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	430	n/a	Cons. · Japanese GAAP
FYE Mar 2018	457	+6.2%	Cons. · Japanese GAAP
FYE Mar 2019	453	−0.8%	Cons. · Japanese GAAP
FYE Mar 2020	429	−5.3%	Cons. · Japanese GAAP
FYE Mar 2021	378	moved to IFRS	Cons. · IFRS
FYE Mar 2022	436	+15.5%	Cons. · IFRS
FYE Mar 2023	421	−3.5%	Cons. · IFRS
FYE Mar 2024	444	+5.4%	Cons. · IFRS
FYE Mar 2025	506	+14.1%	Cons. · IFRS
FYE Mar 2026	520	+2.8%	Cons. · IFRS

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 ¥381bn

CAGR · 10 yrs +3.4%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	283	n/a	Cons. · Japanese GAAP
FYE Mar 2018	300	+6.1%	Cons. · Japanese GAAP
FYE Mar 2019	312	+3.8%	Cons. · Japanese GAAP
FYE Mar 2020	301	−3.6%	Cons. · Japanese GAAP
FYE Mar 2021	287	moved to IFRS	Cons. · IFRS
FYE Mar 2022	306	+6.5%	Cons. · IFRS
FYE Mar 2023	331	+8.2%	Cons. · IFRS
FYE Mar 2024	346	+4.7%	Cons. · IFRS
FYE Mar 2025	366	+5.7%	Cons. · IFRS
FYE Mar 2026	381	+4.2%	Cons. · IFRS

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 ¥97bn

CAGR · 10 yrs −4.5%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	147	n/a	Cons. · Japanese GAAP
FYE Mar 2018	156	+6.5%	Cons. · Japanese GAAP
FYE Mar 2019	141	−9.6%	Cons. · Japanese GAAP
FYE Mar 2020	115	−18.9%	Cons. · Japanese GAAP
FYE Mar 2021	55.9	moved to IFRS	Cons. · IFRS
FYE Mar 2022	101	+80.0%	Cons. · IFRS
FYE Mar 2023	109	+8.4%	Cons. · IFRS
FYE Mar 2024	57.7	−47.1%	Cons. · IFRS
FYE Mar 2025	127	+121.1%	Cons. · IFRS
FYE Mar 2026	97.2	−23.7%	Cons. · IFRS

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

Non-operating income

FYE Mar 2026 ¥8.6bn

CAGR · 10 yrs −8.0%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	18.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.1	+5.2%	Cons. · Japanese GAAP
FYE Mar 2019	21.9	+14.9%	Cons. · Japanese GAAP
FYE Mar 2020	7.1	−67.7%	Cons. · Japanese GAAP
FYE Mar 2021	6.1	moved to IFRS	Cons. · IFRS
FYE Mar 2022	6.7	+9.2%	Cons. · IFRS
FYE Mar 2023	8.5	+27.4%	Cons. · IFRS
FYE Mar 2024	12.1	+43.2%	Cons. · IFRS
FYE Mar 2025	11.1	−8.7%	Cons. · IFRS
FYE Mar 2026	8.6	−22.6%	Cons. · IFRS

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 ¥20bn

CAGR · 10 yrs −0.8%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	21.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.2	+9.2%	Cons. · Japanese GAAP
FYE Mar 2019	28.8	+24.3%	Cons. · Japanese GAAP
FYE Mar 2020	9.2	−68.2%	Cons. · Japanese GAAP
FYE Mar 2021	9.2	moved to IFRS	Cons. · IFRS
FYE Mar 2022	6.3	−32.2%	Cons. · IFRS
FYE Mar 2023	13.0	+108.1%	Cons. · IFRS
FYE Mar 2024	19.1	+46.6%	Cons. · IFRS
FYE Mar 2025	21.9	+14.8%	Cons. · IFRS
FYE Mar 2026	19.7	−9.9%	Cons. · IFRS

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 n/a

CAGR · 4 yrs −10.4%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	144	n/a	Cons. · Japanese GAAP
FYE Mar 2018	152	+6.0%	Cons. · Japanese GAAP
FYE Mar 2019	135	−11.7%	Cons. · Japanese GAAP
FYE Mar 2020	103	−23.2%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 n/a

CAGR · 4 yrs +8.8%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.5	−23.8%	Cons. · Japanese GAAP
FYE Mar 2019	22.3	+391.4%	Cons. · Japanese GAAP
FYE Mar 2020	7.7	−65.6%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 ¥80bn

CAGR · 10 yrs −2.5%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	99.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	95.9	−3.5%	Cons. · Japanese GAAP
FYE Mar 2019	79.4	−17.2%	Cons. · Japanese GAAP
FYE Mar 2020	55.7	−29.8%	Cons. · Japanese GAAP
FYE Mar 2021	39.1	moved to IFRS	Cons. · IFRS
FYE Mar 2022	84.2	+115.4%	Cons. · IFRS
FYE Mar 2023	72.8	−13.5%	Cons. · IFRS
FYE Mar 2024	21.9	−69.9%	Cons. · IFRS
FYE Mar 2025	77.9	+255.8%	Cons. · IFRS
FYE Mar 2026	79.5	+2.1%	Cons. · IFRS

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

Gross margin

FYE Mar 2026 20.1%

Average · 10 yrs 19.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	21.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	19.0	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2020	20.5	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	20.0	moved to IFRS	Cons. · IFRS
FYE Mar 2022	19.6	−0.5pp	Cons. · IFRS
FYE Mar 2023	16.9	−2.7pp	Cons. · IFRS
FYE Mar 2024	18.0	+1.1pp	Cons. · IFRS
FYE Mar 2025	19.7	+1.7pp	Cons. · IFRS
FYE Mar 2026	20.1	+0.4pp	Cons. · IFRS

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

Operating margin

FYE Mar 2026 3.8%

Average · 10 yrs 4.9%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	7.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	5.9	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	5.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	3.0	moved to IFRS	Cons. · IFRS
FYE Mar 2022	4.5	+1.5pp	Cons. · IFRS
FYE Mar 2023	4.4	−0.1pp	Cons. · IFRS
FYE Mar 2024	2.3	−2.0pp	Cons. · IFRS
FYE Mar 2025	5.0	+2.6pp	Cons. · IFRS
FYE Mar 2026	3.8	−1.2pp	Cons. · IFRS

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

Ordinary margin

FYE Mar 2026 n/a

Average · 4 yrs 6.1%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	5.6	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	4.9	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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

Net margin

FYE Mar 2026 3.1%

Average · 10 yrs 3.1%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	4.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	3.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	2.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	2.1	moved to IFRS	Cons. · IFRS
FYE Mar 2022	3.8	+1.7pp	Cons. · IFRS
FYE Mar 2023	2.9	−0.9pp	Cons. · IFRS
FYE Mar 2024	0.9	−2.0pp	Cons. · IFRS
FYE Mar 2025	3.0	+2.2pp	Cons. · IFRS
FYE Mar 2026	3.1	−0.0pp	Cons. · IFRS

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

Cost-of-sales ratio

FYE Mar 2026 79.9%

Average · 10 yrs 80.4%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	78.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	79.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	81.0	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2020	79.5	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	80.0	moved to IFRS	Cons. · IFRS
FYE Mar 2022	80.4	+0.5pp	Cons. · IFRS
FYE Mar 2023	83.1	+2.7pp	Cons. · IFRS
FYE Mar 2024	82.0	−1.1pp	Cons. · IFRS
FYE Mar 2025	80.3	−1.7pp	Cons. · IFRS
FYE Mar 2026	79.9	−0.4pp	Cons. · IFRS

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 14.8%

Average · 10 yrs 14.0%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	14.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.6	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	13.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	14.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	15.2	moved to IFRS	Cons. · IFRS
FYE Mar 2022	13.7	−1.5pp	Cons. · IFRS
FYE Mar 2023	13.3	−0.4pp	Cons. · IFRS
FYE Mar 2024	14.1	+0.8pp	Cons. · IFRS
FYE Mar 2025	14.3	+0.2pp	Cons. · IFRS
FYE Mar 2026	14.8	+0.5pp	Cons. · IFRS

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 ¥3.48tn

CAGR · 10 yrs +4.2%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	2,397	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,576	+7.5%	Cons. · Japanese GAAP
FYE Mar 2019	2,788	+8.2%	Cons. · Japanese GAAP
FYE Mar 2020	2,651	−4.9%	Cons. · Japanese GAAP
FYE Mar 2021	2,759	moved to IFRS	Cons. · IFRS
FYE Mar 2022	3,044	+10.3%	Cons. · IFRS
FYE Mar 2023	3,194	+4.9%	Cons. · IFRS
FYE Mar 2024	3,467	+8.5%	Cons. · IFRS
FYE Mar 2025	3,293	−5.0%	Cons. · IFRS
FYE Mar 2026	3,477	+5.6%	Cons. · IFRS

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 ¥1.67tn

CAGR · 10 yrs +5.6%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	1,022	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,092	+6.8%	Cons. · Japanese GAAP
FYE Mar 2019	1,132	+3.7%	Cons. · Japanese GAAP
FYE Mar 2020	1,095	−3.3%	Cons. · Japanese GAAP
FYE Mar 2021	1,203	moved to IFRS	Cons. · IFRS
FYE Mar 2022	1,312	+9.0%	Cons. · IFRS
FYE Mar 2023	1,434	+9.4%	Cons. · IFRS
FYE Mar 2024	1,626	+13.3%	Cons. · IFRS
FYE Mar 2025	1,597	−1.7%	Cons. · IFRS
FYE Mar 2026	1,672	+4.7%	Cons. · IFRS

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 ¥864bn

CAGR · 10 yrs +7.7%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	443	n/a	Cons. · Japanese GAAP
FYE Mar 2018	462	+4.4%	Cons. · Japanese GAAP
FYE Mar 2019	588	+27.3%	Cons. · Japanese GAAP
FYE Mar 2020	954	+62.1%	Cons. · Japanese GAAP
FYE Mar 2021	933	moved to IFRS	Cons. · IFRS
FYE Mar 2022	898	−3.8%	Cons. · IFRS
FYE Mar 2023	911	+1.5%	Cons. · IFRS
FYE Mar 2024	910	−0.1%	Cons. · IFRS
FYE Mar 2025	800	−12.2%	Cons. · IFRS
FYE Mar 2026	864	+8.1%	Cons. · IFRS

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

Short-term borrowings

FYE Mar 2026 ¥381bn

CAGR · 10 yrs +4.3%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	261	n/a	Cons. · Japanese GAAP
FYE Mar 2018	245	−6.3%	Cons. · Japanese GAAP
FYE Mar 2019	270	+10.1%	Cons. · Japanese GAAP
FYE Mar 2020	240	−10.8%	Cons. · Japanese GAAP
FYE Mar 2021	279	moved to IFRS	Cons. · IFRS
FYE Mar 2022	279	+0.3%	Cons. · IFRS
FYE Mar 2023	377	+34.9%	Cons. · IFRS
FYE Mar 2024	380	+0.8%	Cons. · IFRS
FYE Mar 2025	367	−3.4%	Cons. · IFRS
FYE Mar 2026	381	+3.8%	Cons. · IFRS

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 ¥483bn

CAGR · 10 yrs +5.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	311	n/a	Cons. · Japanese GAAP
FYE Mar 2018	326	+5.0%	Cons. · Japanese GAAP
FYE Mar 2019	413	+26.5%	Cons. · Japanese GAAP
FYE Mar 2020	383	−7.2%	Cons. · Japanese GAAP
FYE Mar 2021	655	moved to IFRS	Cons. · IFRS
FYE Mar 2022	619	−5.5%	Cons. · IFRS
FYE Mar 2023	534	−13.7%	Cons. · IFRS
FYE Mar 2024	531	−0.7%	Cons. · IFRS
FYE Mar 2025	432	−18.5%	Cons. · IFRS
FYE Mar 2026	483	+11.7%	Cons. · IFRS

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

Bonds

FYE Mar 2026 n/a

CAGR · 4 yrs +27.5%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	140	n/a	Cons. · Japanese GAAP
FYE Mar 2018	241	+72.3%	Cons. · Japanese GAAP
FYE Mar 2019	340	+40.9%	Cons. · Japanese GAAP
FYE Mar 2020	290	−14.7%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

Definition: Bonds outstanding
Formula: Bonds line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥106bn

CAGR · 10 yrs +3.5%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	77.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	68.6	−11.2%	Cons. · Japanese GAAP
FYE Mar 2019	171	+149.5%	Cons. · Japanese GAAP
FYE Mar 2020	79.5	−53.6%	Cons. · Japanese GAAP
FYE Mar 2021	78.3	moved to IFRS	Cons. · IFRS
FYE Mar 2022	80.7	+3.1%	Cons. · IFRS
FYE Mar 2023	84.6	+4.8%	Cons. · IFRS
FYE Mar 2024	95.3	+12.6%	Cons. · IFRS
FYE Mar 2025	99.3	+4.2%	Cons. · IFRS
FYE Mar 2026	106	+6.3%	Cons. · IFRS

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

Goodwill

FYE Mar 2026 ¥101bn

CAGR · 10 yrs +9.2%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	45.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	40.1	−12.3%	Cons. · Japanese GAAP
FYE Mar 2019	85.7	+113.5%	Cons. · Japanese GAAP
FYE Mar 2020	83.4	−2.7%	Cons. · Japanese GAAP
FYE Mar 2021	85.6	moved to IFRS	Cons. · IFRS
FYE Mar 2022	88.1	+3.0%	Cons. · IFRS
FYE Mar 2023	95.5	+8.3%	Cons. · IFRS
FYE Mar 2024	96.0	+0.6%	Cons. · IFRS
FYE Mar 2025	94.6	−1.4%	Cons. · IFRS
FYE Mar 2026	101	+6.5%	Cons. · IFRS

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 48.1%

Average · 10 yrs 44.2%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	42.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	42.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	40.6	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2020	41.3	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	43.6	moved to IFRS	Cons. · IFRS
FYE Mar 2022	43.1	−0.5pp	Cons. · IFRS
FYE Mar 2023	44.9	+1.8pp	Cons. · IFRS
FYE Mar 2024	46.9	+2.0pp	Cons. · IFRS
FYE Mar 2025	48.5	+1.6pp	Cons. · IFRS
FYE Mar 2026	48.1	−0.4pp	Cons. · IFRS

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 51.7%

Average · 10 yrs 59.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	43.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	42.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	52.0	+9.6pp	Cons. · Japanese GAAP
FYE Mar 2020	87.1	+35.2pp	Cons. · Japanese GAAP
FYE Mar 2021	77.6	moved to IFRS	Cons. · IFRS
FYE Mar 2022	68.5	−9.1pp	Cons. · IFRS
FYE Mar 2023	63.5	−4.9pp	Cons. · IFRS
FYE Mar 2024	56.0	−7.5pp	Cons. · IFRS
FYE Mar 2025	50.1	−5.9pp	Cons. · IFRS
FYE Mar 2026	51.7	+1.6pp	Cons. · IFRS

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 4.8%

Average · 10 yrs 5.6%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	9.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.8	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	7.0	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2020	5.1	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	3.3	moved to IFRS	Cons. · IFRS
FYE Mar 2022	6.4	+3.2pp	Cons. · IFRS
FYE Mar 2023	5.1	−1.3pp	Cons. · IFRS
FYE Mar 2024	1.3	−3.7pp	Cons. · IFRS
FYE Mar 2025	4.9	+3.5pp	Cons. · IFRS
FYE Mar 2026	4.8	−0.1pp	Cons. · IFRS

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

ROA return on assets

FYE Mar 2026 2.3%

Average · 10 yrs 2.5%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	4.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	2.8	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	2.1	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	1.4	moved to IFRS	Cons. · IFRS
FYE Mar 2022	2.8	+1.4pp	Cons. · IFRS
FYE Mar 2023	2.3	−0.5pp	Cons. · IFRS
FYE Mar 2024	0.6	−1.6pp	Cons. · IFRS
FYE Mar 2025	2.4	+1.7pp	Cons. · IFRS
FYE Mar 2026	2.3	−0.1pp	Cons. · IFRS

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

Asset turnover

FYE Mar 2026 0.74×

CAGR · 10 yrs −1.4%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.85	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.86	+1.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.86	+0.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.79	−7.9%	Cons. · Japanese GAAP
FYE Mar 2021	0.68	moved to IFRS	Cons. · IFRS
FYE Mar 2022	0.73	+7.2%	Cons. · IFRS
FYE Mar 2023	0.78	+6.5%	Cons. · IFRS
FYE Mar 2024	0.71	−8.8%	Cons. · IFRS
FYE Mar 2025	0.78	+9.5%	Cons. · IFRS
FYE Mar 2026	0.74	−4.5%	Cons. · IFRS

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 ¥212bn

CAGR · 10 yrs +2.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	174	n/a	Cons. · Japanese GAAP
FYE Mar 2018	129	−25.7%	Cons. · Japanese GAAP
FYE Mar 2019	176	+36.4%	Cons. · Japanese GAAP
FYE Mar 2020	226	+28.1%	Cons. · Japanese GAAP
FYE Mar 2021	203	moved to IFRS	Cons. · IFRS
FYE Mar 2022	138	−32.0%	Cons. · IFRS
FYE Mar 2023	145	+5.0%	Cons. · IFRS
FYE Mar 2024	186	+27.9%	Cons. · IFRS
FYE Mar 2025	255	+37.4%	Cons. · IFRS
FYE Mar 2026	212	−17.0%	Cons. · IFRS

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

Investing cash flow

FYE Mar 2026 -¥67bn

Average · 10 yrs -¥123bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-135	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-187	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-260	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-142	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-97.9	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-57.2	n/a	Cons. · IFRS
FYE Mar 2023	-103	n/a	Cons. · IFRS
FYE Mar 2024	-121	n/a	Cons. · IFRS
FYE Mar 2025	-63.2	n/a	Cons. · IFRS
FYE Mar 2026	-66.9	n/a	Cons. · IFRS

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

Financing cash flow

FYE Mar 2026 -¥129bn

Average · 10 yrs -¥51bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-18.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	61.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	119	+92.5%	Cons. · Japanese GAAP
FYE Mar 2020	-67.6	−156.9%	Cons. · Japanese GAAP
FYE Mar 2021	-61.2	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-102	n/a	Cons. · IFRS
FYE Mar 2023	-57.4	n/a	Cons. · IFRS
FYE Mar 2024	-70.4	n/a	Cons. · IFRS
FYE Mar 2025	-189	n/a	Cons. · IFRS
FYE Mar 2026	-129	n/a	Cons. · IFRS

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 ¥265bn

CAGR · 10 yrs +8.1%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	131	n/a	Cons. · Japanese GAAP
FYE Mar 2018	134	+2.2%	Cons. · Japanese GAAP
FYE Mar 2019	173	+28.9%	Cons. · Japanese GAAP
FYE Mar 2020	184	+6.1%	Cons. · Japanese GAAP
FYE Mar 2021	236	moved to IFRS	Cons. · IFRS
FYE Mar 2022	230	−2.5%	Cons. · IFRS
FYE Mar 2023	224	−2.8%	Cons. · IFRS
FYE Mar 2024	236	+5.3%	Cons. · IFRS
FYE Mar 2025	237	+0.6%	Cons. · IFRS
FYE Mar 2026	265	+11.8%	Cons. · IFRS

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 ¥145bn

CAGR · 10 yrs +15.8%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	38.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-57.5	−248.5%	Cons. · Japanese GAAP
FYE Mar 2019	-84.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	83.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	106	moved to IFRS	Cons. · IFRS
FYE Mar 2022	81.1	−23.2%	Cons. · IFRS
FYE Mar 2023	42.5	−47.6%	Cons. · IFRS
FYE Mar 2024	64.7	+52.2%	Cons. · IFRS
FYE Mar 2025	192	+196.6%	Cons. · IFRS
FYE Mar 2026	145	−24.5%	Cons. · IFRS

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 8.2%

Average · 10 yrs 8.1%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	8.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.9	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2019	7.4	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	10.8	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2021	10.8	moved to IFRS	Cons. · IFRS
FYE Mar 2022	6.2	−4.6pp	Cons. · IFRS
FYE Mar 2023	5.8	−0.4pp	Cons. · IFRS
FYE Mar 2024	7.5	+1.7pp	Cons. · IFRS
FYE Mar 2025	9.9	+2.4pp	Cons. · IFRS
FYE Mar 2026	8.2	−1.8pp	Cons. · IFRS

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

Net cash

FYE Mar 2026 -¥599bn

Average · 10 yrs -¥571bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-311	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-328	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-415	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-770	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-697	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-668	n/a	Cons. · IFRS
FYE Mar 2023	-687	n/a	Cons. · IFRS
FYE Mar 2024	-675	n/a	Cons. · IFRS
FYE Mar 2025	-562	n/a	Cons. · IFRS
FYE Mar 2026	-599	n/a	Cons. · IFRS

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

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

Market capitalisation

FYE Mar 2026 ¥1.66tn

Change · 10 yrs +¥45bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	1,613	n/a
FYE Mar 2018	1,644	n/a
FYE Mar 2019	1,149	n/a
FYE Mar 2020	764	n/a
FYE Mar 2021	1,162	n/a
FYE Mar 2022	1,039	n/a
FYE Mar 2023	1,232	n/a
FYE Mar 2024	1,207	n/a
FYE Mar 2025	1,660	n/a
FYE Mar 2026	1,657	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 1,102¥

Change · 10 yrs +113¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	989	n/a
FYE Mar 2018	1,008	n/a
FYE Mar 2019	704	n/a
FYE Mar 2020	469	n/a
FYE Mar 2021	712	n/a
FYE Mar 2022	637	n/a
FYE Mar 2023	755	n/a
FYE Mar 2024	740	n/a
FYE Mar 2025	1,018	n/a
FYE Mar 2026	1,102	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 1,504,481,000shares

Change · 10 yrs −127,000,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	1,631,481,000	Parent
FYE Mar 2018	1,631,481,000	Parent
FYE Mar 2019	1,631,481,000	Parent
FYE Mar 2020	1,631,481,000	Parent
FYE Mar 2021	1,631,481,000	Parent
FYE Mar 2022	1,631,481,000	Parent
FYE Mar 2023	1,631,481,000	Parent
FYE Mar 2024	1,631,481,000	Parent
FYE Mar 2025	1,631,481,000	Parent
FYE Mar 2026	1,504,481,000	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 52.96¥

Change · 10 yrs −9.21¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	62.17	Cons.
FYE Mar 2018	59.97	Cons.
FYE Mar 2019	49.61	Cons.
FYE Mar 2020	52.65	Cons.
FYE Mar 2021	28.61	Cons.
FYE Mar 2022	52.63	Cons.
FYE Mar 2023	45.49	Cons.
FYE Mar 2024	13.67	Cons.
FYE Mar 2025	48.93	Cons.
FYE Mar 2026	52.96	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 1,111.53¥

Change · 10 yrs +484.82¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	626.72	Cons. · Japanese GAAP
FYE Mar 2018	669.35	Cons. · Japanese GAAP
FYE Mar 2019	694.08	Cons. · Japanese GAAP
FYE Mar 2020	671.05	Cons. · Japanese GAAP
FYE Mar 2021	737.49	Cons. · IFRS
FYE Mar 2022	803.89	Cons. · IFRS
FYE Mar 2023	879.11	Cons. · IFRS
FYE Mar 2024	996.46	Cons. · IFRS
FYE Mar 2025	979.11	Cons. · IFRS
FYE Mar 2026	1,111.53	Cons. · IFRS

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

PER price-to-earnings ratio

FYE Mar 2026 20.80×

Average · 10 yrs 20.51×

Fiscal year	PER ×	Basis
FYE Mar 2017	15.90	Cons.
FYE Mar 2018	16.80	Cons.
FYE Mar 2019	14.20	Cons.
FYE Mar 2020	8.90	Cons.
FYE Mar 2021	24.90	Cons.
FYE Mar 2022	12.10	Cons.
FYE Mar 2023	16.60	Cons.
FYE Mar 2024	54.10	Cons.
FYE Mar 2025	20.80	Cons.
FYE Mar 2026	20.80	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 0.89×

Average · 10 yrs 0.96×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.55	Cons.
FYE Mar 2018	1.48	Cons.
FYE Mar 2019	1.00	Cons.
FYE Mar 2020	0.67	Cons.
FYE Mar 2021	0.92	Cons.
FYE Mar 2022	0.73	Cons.
FYE Mar 2023	0.79	Cons.
FYE Mar 2024	0.68	Cons.
FYE Mar 2025	0.93	Cons.
FYE Mar 2026	0.89	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 46,294people

Change · 10 yrs +46 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	46,248	n/a	Cons.
FYE Mar 2018	45,762	−1.1%	Cons.
FYE Mar 2019	48,320	+5.6%	Cons.
FYE Mar 2020	48,031	−0.6%	Cons.
FYE Mar 2021	46,267	−3.7%	Cons.
FYE Mar 2022	48,842	+5.6%	Cons.
FYE Mar 2023	48,682	−0.3%	Cons.
FYE Mar 2024	48,140	−1.1%	Cons.
FYE Mar 2025	47,914	−0.5%	Cons.
FYE Mar 2026	46,294	−3.4%	Cons.

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

Parent-company employees

FYE Mar 2026 7,027people

Change · 10 yrs −193 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	7,220	n/a	Parent
FYE Mar 2018	7,625	+5.6%	Parent
FYE Mar 2019	7,585	−0.5%	Parent
FYE Mar 2020	7,568	−0.2%	Parent
FYE Mar 2021	7,420	−2.0%	Parent
FYE Mar 2022	7,175	−3.3%	Parent
FYE Mar 2023	6,992	−2.6%	Parent
FYE Mar 2024	6,995	−0.0%	Parent
FYE Mar 2025	7,010	+0.2%	Parent
FYE Mar 2026	7,027	+0.2%	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 ¥8.4m

Change · 10 yrs +¥1.4m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	7.0	n/a	Parent
FYE Mar 2018	7.1	+1.2%	Parent
FYE Mar 2019	7.2	+1.9%	Parent
FYE Mar 2020	7.2	+0.1%	Parent
FYE Mar 2021	6.7	−6.7%	Parent
FYE Mar 2022	7.3	+9.3%	Parent
FYE Mar 2023	7.6	+3.0%	Parent
FYE Mar 2024	7.7	+1.2%	Parent
FYE Mar 2025	8.2	+7.2%	Parent
FYE Mar 2026	8.4	+2.2%	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 Mar 2026 40.8years

Change · 8 yrs +2.7 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	38.1	n/a	Parent
FYE Mar 2020	38.5	+1.0%	Parent
FYE Mar 2021	39.0	+1.3%	Parent
FYE Mar 2022	39.7	+1.8%	Parent
FYE Mar 2023	40.3	+1.5%	Parent
FYE Mar 2024	40.7	+1.0%	Parent
FYE Mar 2025	40.8	+0.2%	Parent
FYE Mar 2026	40.8	−0.0%	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 17.4years

Change · 10 yrs +2.9 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	14.5	n/a	Parent
FYE Mar 2018	14.6	+0.7%	Parent
FYE Mar 2019	15.0	+2.7%	Parent
FYE Mar 2020	15.4	+2.7%	Parent
FYE Mar 2021	15.9	+3.2%	Parent
FYE Mar 2022	16.6	+4.4%	Parent
FYE Mar 2023	17.2	+3.6%	Parent
FYE Mar 2024	17.4	+1.2%	Parent
FYE Mar 2025	17.4	−0.0%	Parent
FYE Mar 2026	17.4	−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)

Revenue per employee

FYE Mar 2026 ¥55.8m

Change · 10 yrs +¥12.0m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	43.8	n/a	Cons.
FYE Mar 2018	48.2	+10.0%	Cons.
FYE Mar 2019	49.4	+2.6%	Cons.
FYE Mar 2020	43.5	−11.9%	Cons.
FYE Mar 2021	40.7	n/a	Cons.
FYE Mar 2022	45.6	+12.1%	Cons.
FYE Mar 2023	51.1	+12.1%	Cons.
FYE Mar 2024	51.2	+0.1%	Cons.
FYE Mar 2025	53.5	+4.5%	Cons.
FYE Mar 2026	55.8	+4.4%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥2.1m

Change · 10 yrs −¥1.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons.
FYE Mar 2018	3.4	+7.6%	Cons.
FYE Mar 2019	2.9	−14.4%	Cons.
FYE Mar 2020	2.4	−18.4%	Cons.
FYE Mar 2021	1.2	n/a	Cons.
FYE Mar 2022	2.1	+70.5%	Cons.
FYE Mar 2023	2.2	+8.7%	Cons.
FYE Mar 2024	1.2	−46.5%	Cons.
FYE Mar 2025	2.7	+122.1%	Cons.
FYE Mar 2026	2.1	−21.1%	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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