Financials

SHIFT: FYE Aug 2025 and ten years of results (51 metrics)

FYE Aug 2025 · Revenue¥130bnYoY +17.3%

FYE Aug 2025 · Operating profit¥16bnYoY +48.3%

FYE Aug 2025 · Net profit¥8.9bnYoY +74.3%

FYE Aug 2025 · Equity ratio53.3%YoY −1.0pp

FYE Aug 2025 · Group employees11,688YoY +1,422

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Aug 2016Consolidated	¥5.5bn	n/a	¥0.5bn	n/a	9.4%	¥0.3bn	Tange Masaru	SHIFT ASIA founded in Vietnam — the offshore layer
FYE Aug 2017Consolidated	¥8.2bn	+48.3%	¥0.4bn	−24.4%	4.8%	¥0.2bn	Tange Masaru	—
FYE Aug 2018Consolidated	¥13bn	+56.5%	¥1.2bn	+206.8%	9.4%	¥0.4bn	Tange Masaru	—
FYE Aug 2019Consolidated	¥20bn	+52.7%	¥1.5bn	+28.3%	7.9%	¥1.0bn	Tange Masaru	<span class="en-history_money" data-yen="5197000000" data-year="2019">$47.7M (¥5bn)</span> warrant issue; moves to the TSE First Section
FYE Aug 2020Consolidated	¥29bn	+47.0%	¥2.4bn	+52.8%	8.2%	¥1.6bn	Tange Masaru	Six companies consolidated; <span class="en-history_money" data-yen="9798000000" data-year="2020">$91.8M (¥10bn)</span> raised overseas
FYE Aug 2021Consolidated	¥46bn	+60.2%	¥4.0bn	+69.8%	8.7%	¥2.8bn	Tange Masaru	—
FYE Aug 2022Consolidated	¥65bn	+41.0%	¥6.9bn	+73.0%	10.7%	¥5.0bn	Tange Masaru	SHIFT Growth Capital established; TSE Prime listing
FYE Aug 2023Consolidated	¥88bn	+35.7%	¥12bn	+67.3%	13.1%	¥6.2bn	Tange Masaru	SHIFT Enterprise Consulting founded; head office moved
FYE Aug 2024Consolidated	¥111bn	+25.7%	¥11bn	−8.9%	9.5%	¥5.1bn	Tange Masaru	Networld acquired — into IT distribution
FYE Aug 2025Consolidated	¥130bn	+17.3%	¥16bn	+48.3%	12.0%	¥8.9bn	Tange Masaru	SHIFT USA established in Palo Alto

How it compares

Baycurrent¥148bnFY2025Operating margin 34.3%

SHIFT¥130bnFY2025Operating margin 12.0%

Systena¥94bnFY2025Operating margin 16.3%Future¥76bnFY2025Operating margin 21.3%

Simplex Holdings¥59bnFY2025Operating margin 24.6%

Dream Incubator¥9bnFY2025Operating margin 20.6%

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 Aug 2025 ¥130bn

CAGR · 10 yrs +42.1%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Aug 2016	5.5	n/a	Cons. · Japanese GAAP
FYE Aug 2017	8.2	+48.3%	Cons. · Japanese GAAP
FYE Aug 2018	12.8	+56.5%	Cons. · Japanese GAAP
FYE Aug 2019	19.5	+52.7%	Cons. · Japanese GAAP
FYE Aug 2020	28.7	+47.0%	Cons. · Japanese GAAP
FYE Aug 2021	46.0	+60.2%	Cons. · Japanese GAAP
FYE Aug 2022	64.9	+41.0%	Cons. · Japanese GAAP
FYE Aug 2023	88.0	+35.7%	Cons. · Japanese GAAP
FYE Aug 2024	111	+25.7%	Cons. · Japanese GAAP
FYE Aug 2025	130	+17.3%	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 Aug 2025 ¥85bn

CAGR · 10 yrs +41.1%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Aug 2016	3.8	n/a	Cons. · Japanese GAAP
FYE Aug 2017	5.9	+54.5%	Cons. · Japanese GAAP
FYE Aug 2018	8.9	+51.0%	Cons. · Japanese GAAP
FYE Aug 2019	13.3	+49.6%	Cons. · Japanese GAAP
FYE Aug 2020	19.8	+48.4%	Cons. · Japanese GAAP
FYE Aug 2021	32.1	+62.4%	Cons. · Japanese GAAP
FYE Aug 2022	43.8	+36.4%	Cons. · Japanese GAAP
FYE Aug 2023	58.1	+32.7%	Cons. · Japanese GAAP
FYE Aug 2024	75.3	+29.6%	Cons. · Japanese GAAP
FYE Aug 2025	84.8	+12.7%	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 Aug 2025 ¥45bn

CAGR · 10 yrs +44.0%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Aug 2016	1.7	n/a	Cons. · Japanese GAAP
FYE Aug 2017	2.3	+34.4%	Cons. · Japanese GAAP
FYE Aug 2018	3.9	+70.8%	Cons. · Japanese GAAP
FYE Aug 2019	6.2	+59.7%	Cons. · Japanese GAAP
FYE Aug 2020	9.0	+44.0%	Cons. · Japanese GAAP
FYE Aug 2021	13.9	+55.4%	Cons. · Japanese GAAP
FYE Aug 2022	21.1	+51.7%	Cons. · Japanese GAAP
FYE Aug 2023	29.9	+41.9%	Cons. · Japanese GAAP
FYE Aug 2024	35.4	+18.1%	Cons. · Japanese GAAP
FYE Aug 2025	45.0	+27.3%	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 Aug 2025 ¥29bn

CAGR · 10 yrs +43.0%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Aug 2016	1.2	n/a	Cons. · Japanese GAAP
FYE Aug 2017	1.9	+60.3%	Cons. · Japanese GAAP
FYE Aug 2018	2.7	+42.5%	Cons. · Japanese GAAP
FYE Aug 2019	4.7	+73.8%	Cons. · Japanese GAAP
FYE Aug 2020	6.6	+41.1%	Cons. · Japanese GAAP
FYE Aug 2021	9.9	+50.3%	Cons. · Japanese GAAP
FYE Aug 2022	14.2	+43.0%	Cons. · Japanese GAAP
FYE Aug 2023	18.4	+29.6%	Cons. · Japanese GAAP
FYE Aug 2024	24.8	+35.1%	Cons. · Japanese GAAP
FYE Aug 2025	29.4	+18.4%	Cons. · Japanese GAAP

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

Operating profit

FYE Aug 2025 ¥16bn

CAGR · 10 yrs +46.0%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Aug 2016	0.5	n/a	Cons. · Japanese GAAP
FYE Aug 2017	0.4	−24.4%	Cons. · Japanese GAAP
FYE Aug 2018	1.2	+206.8%	Cons. · Japanese GAAP
FYE Aug 2019	1.5	+28.3%	Cons. · Japanese GAAP
FYE Aug 2020	2.4	+52.8%	Cons. · Japanese GAAP
FYE Aug 2021	4.0	+69.8%	Cons. · Japanese GAAP
FYE Aug 2022	6.9	+73.0%	Cons. · Japanese GAAP
FYE Aug 2023	11.6	+67.3%	Cons. · Japanese GAAP
FYE Aug 2024	10.5	−8.9%	Cons. · Japanese GAAP
FYE Aug 2025	15.6	+48.3%	Cons. · Japanese GAAP

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

Non-operating income

FYE Aug 2025 ¥248m

CAGR · 10 yrs +16.9%

Fiscal year	Non-operating income ¥ m	YoY	Basis
FYE Aug 2016	60.9	n/a	Cons. · Japanese GAAP
FYE Aug 2017	57.3	−5.9%	Cons. · Japanese GAAP
FYE Aug 2018	45.4	−20.7%	Cons. · Japanese GAAP
FYE Aug 2019	58.1	+27.9%	Cons. · Japanese GAAP
FYE Aug 2020	199	+242.7%	Cons. · Japanese GAAP
FYE Aug 2021	835	+319.3%	Cons. · Japanese GAAP
FYE Aug 2022	763	−8.6%	Cons. · Japanese GAAP
FYE Aug 2023	477	−37.5%	Cons. · Japanese GAAP
FYE Aug 2024	291	−39.0%	Cons. · Japanese GAAP
FYE Aug 2025	248	−14.8%	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 Aug 2025 ¥695m

CAGR · 10 yrs +61.8%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Aug 2016	9.1	n/a	Cons. · Japanese GAAP
FYE Aug 2017	8.1	−11.4%	Cons. · Japanese GAAP
FYE Aug 2018	7.8	−3.7%	Cons. · Japanese GAAP
FYE Aug 2019	53.9	+590.4%	Cons. · Japanese GAAP
FYE Aug 2020	17.3	−67.8%	Cons. · Japanese GAAP
FYE Aug 2021	93.0	+437.1%	Cons. · Japanese GAAP
FYE Aug 2022	124	+33.3%	Cons. · Japanese GAAP
FYE Aug 2023	41.0	−66.9%	Cons. · Japanese GAAP
FYE Aug 2024	75.0	+82.9%	Cons. · Japanese GAAP
FYE Aug 2025	695	+826.7%	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 Aug 2025 ¥15bn

CAGR · 10 yrs +44.0%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Aug 2016	0.6	n/a	Cons. · Japanese GAAP
FYE Aug 2017	0.4	−22.6%	Cons. · Japanese GAAP
FYE Aug 2018	1.2	+181.1%	Cons. · Japanese GAAP
FYE Aug 2019	1.5	+24.7%	Cons. · Japanese GAAP
FYE Aug 2020	2.5	+64.2%	Cons. · Japanese GAAP
FYE Aug 2021	4.7	+86.8%	Cons. · Japanese GAAP
FYE Aug 2022	7.6	+59.5%	Cons. · Japanese GAAP
FYE Aug 2023	12.0	+58.9%	Cons. · Japanese GAAP
FYE Aug 2024	10.8	−10.4%	Cons. · Japanese GAAP
FYE Aug 2025	15.2	+41.2%	Cons. · Japanese GAAP

Definition: A level of profit that exists only under Japanese GAAP
Formula: Operating profit + non-operating income − non-operating expenses
Source: Securities report (XBRL)

Extraordinary income

FYE Aug 2025 ¥116m

CAGR · 7 yrs +71.3%

Fiscal year	Extraordinary income ¥ m	YoY	Basis
FYE Aug 2016	4.6	n/a	Cons. · Japanese GAAP
FYE Aug 2017	0.5	−88.5%	Cons. · Japanese GAAP
FYE Aug 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Aug 2019	12.8	n/a	Cons. · Japanese GAAP
FYE Aug 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Aug 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Aug 2022	44.0	n/a	Cons. · Japanese GAAP
FYE Aug 2023	416	+845.5%	Cons. · Japanese GAAP
FYE Aug 2024	333	−20.0%	Cons. · Japanese GAAP
FYE Aug 2025	116	−65.2%	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 Aug 2025 n/a

CAGR · 4 yrs +350.5%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Aug 2016	0.0	n/a	Cons. · Japanese GAAP
FYE Aug 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Aug 2018	0.4	n/a	Cons. · Japanese GAAP
FYE Aug 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Aug 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Aug 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Aug 2022	0.1	n/a	Cons. · Japanese GAAP
FYE Aug 2023	2.3	+1564.0%	Cons. · Japanese GAAP
FYE Aug 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Aug 2025	n/a	n/a	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 Aug 2025 ¥8.9bn

CAGR · 10 yrs +45.4%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Aug 2016	0.3	n/a	Cons. · Japanese GAAP
FYE Aug 2017	0.2	−32.2%	Cons. · Japanese GAAP
FYE Aug 2018	0.4	+76.5%	Cons. · Japanese GAAP
FYE Aug 2019	1.0	+163.4%	Cons. · Japanese GAAP
FYE Aug 2020	1.6	+69.9%	Cons. · Japanese GAAP
FYE Aug 2021	2.8	+71.0%	Cons. · Japanese GAAP
FYE Aug 2022	5.0	+76.5%	Cons. · Japanese GAAP
FYE Aug 2023	6.2	+25.6%	Cons. · Japanese GAAP
FYE Aug 2024	5.1	−17.9%	Cons. · Japanese GAAP
FYE Aug 2025	8.9	+74.3%	Cons. · Japanese GAAP

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

Gross margin

FYE Aug 2025 34.7%

Average · 10 yrs 31.5%

Fiscal year	Gross margin %	YoY	Basis
FYE Aug 2016	30.8	n/a	Cons. · Japanese GAAP
FYE Aug 2017	27.9	−2.9pp	Cons. · Japanese GAAP
FYE Aug 2018	30.4	+2.5pp	Cons. · Japanese GAAP
FYE Aug 2019	31.8	+1.4pp	Cons. · Japanese GAAP
FYE Aug 2020	31.2	−0.7pp	Cons. · Japanese GAAP
FYE Aug 2021	30.2	−0.9pp	Cons. · Japanese GAAP
FYE Aug 2022	32.5	+2.3pp	Cons. · Japanese GAAP
FYE Aug 2023	34.0	+1.5pp	Cons. · Japanese GAAP
FYE Aug 2024	32.0	−2.1pp	Cons. · Japanese GAAP
FYE Aug 2025	34.7	+2.7pp	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 Aug 2025 12.0%

Average · 10 yrs 9.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Aug 2016	9.4	n/a	Cons. · Japanese GAAP
FYE Aug 2017	4.8	−4.6pp	Cons. · Japanese GAAP
FYE Aug 2018	9.4	+4.6pp	Cons. · Japanese GAAP
FYE Aug 2019	7.9	−1.5pp	Cons. · Japanese GAAP
FYE Aug 2020	8.2	+0.3pp	Cons. · Japanese GAAP
FYE Aug 2021	8.7	+0.5pp	Cons. · Japanese GAAP
FYE Aug 2022	10.7	+2.0pp	Cons. · Japanese GAAP
FYE Aug 2023	13.1	+2.5pp	Cons. · Japanese GAAP
FYE Aug 2024	9.5	−3.6pp	Cons. · Japanese GAAP
FYE Aug 2025	12.0	+2.5pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Aug 2025 11.7%

Average · 10 yrs 9.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Aug 2016	10.3	n/a	Cons. · Japanese GAAP
FYE Aug 2017	5.4	−4.9pp	Cons. · Japanese GAAP
FYE Aug 2018	9.7	+4.3pp	Cons. · Japanese GAAP
FYE Aug 2019	7.9	−1.8pp	Cons. · Japanese GAAP
FYE Aug 2020	8.8	+0.9pp	Cons. · Japanese GAAP
FYE Aug 2021	10.3	+1.5pp	Cons. · Japanese GAAP
FYE Aug 2022	11.6	+1.3pp	Cons. · Japanese GAAP
FYE Aug 2023	13.6	+2.0pp	Cons. · Japanese GAAP
FYE Aug 2024	9.7	−3.9pp	Cons. · Japanese GAAP
FYE Aug 2025	11.7	+2.0pp	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 Aug 2025 6.9%

Average · 10 yrs 5.4%

Fiscal year	Net margin %	YoY	Basis
FYE Aug 2016	5.6	n/a	Cons. · Japanese GAAP
FYE Aug 2017	2.6	−3.0pp	Cons. · Japanese GAAP
FYE Aug 2018	2.9	+0.3pp	Cons. · Japanese GAAP
FYE Aug 2019	5.0	+2.1pp	Cons. · Japanese GAAP
FYE Aug 2020	5.7	+0.8pp	Cons. · Japanese GAAP
FYE Aug 2021	6.1	+0.4pp	Cons. · Japanese GAAP
FYE Aug 2022	7.7	+1.5pp	Cons. · Japanese GAAP
FYE Aug 2023	7.1	−0.6pp	Cons. · Japanese GAAP
FYE Aug 2024	4.6	−2.5pp	Cons. · Japanese GAAP
FYE Aug 2025	6.9	+2.2pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Aug 2025 65.3%

Average · 10 yrs 68.5%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Aug 2016	69.2	n/a	Cons. · Japanese GAAP
FYE Aug 2017	72.1	+2.9pp	Cons. · Japanese GAAP
FYE Aug 2018	69.6	−2.5pp	Cons. · Japanese GAAP
FYE Aug 2019	68.2	−1.4pp	Cons. · Japanese GAAP
FYE Aug 2020	68.8	+0.7pp	Cons. · Japanese GAAP
FYE Aug 2021	69.8	+0.9pp	Cons. · Japanese GAAP
FYE Aug 2022	67.5	−2.3pp	Cons. · Japanese GAAP
FYE Aug 2023	66.0	−1.5pp	Cons. · Japanese GAAP
FYE Aug 2024	68.0	+2.1pp	Cons. · Japanese GAAP
FYE Aug 2025	65.3	−2.7pp	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 Aug 2025 22.6%

Average · 10 yrs 22.2%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Aug 2016	21.4	n/a	Cons. · Japanese GAAP
FYE Aug 2017	23.1	+1.7pp	Cons. · Japanese GAAP
FYE Aug 2018	21.0	−2.1pp	Cons. · Japanese GAAP
FYE Aug 2019	23.9	+2.9pp	Cons. · Japanese GAAP
FYE Aug 2020	23.0	−1.0pp	Cons. · Japanese GAAP
FYE Aug 2021	21.6	−1.4pp	Cons. · Japanese GAAP
FYE Aug 2022	21.9	+0.3pp	Cons. · Japanese GAAP
FYE Aug 2023	20.9	−1.0pp	Cons. · Japanese GAAP
FYE Aug 2024	22.4	+1.6pp	Cons. · Japanese GAAP
FYE Aug 2025	22.6	+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 Aug 2025 ¥77bn

CAGR · 10 yrs +41.6%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Aug 2016	3.4	n/a	Cons. · Japanese GAAP
FYE Aug 2017	5.3	+58.5%	Cons. · Japanese GAAP
FYE Aug 2018	6.3	+17.9%	Cons. · Japanese GAAP
FYE Aug 2019	15.0	+138.3%	Cons. · Japanese GAAP
FYE Aug 2020	19.8	+32.4%	Cons. · Japanese GAAP
FYE Aug 2021	34.3	+72.9%	Cons. · Japanese GAAP
FYE Aug 2022	40.2	+17.4%	Cons. · Japanese GAAP
FYE Aug 2023	49.5	+23.1%	Cons. · Japanese GAAP
FYE Aug 2024	62.7	+26.6%	Cons. · Japanese GAAP
FYE Aug 2025	77.0	+22.8%	Cons. · Japanese GAAP

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

Equity net assets, shareholders' equity

FYE Aug 2025 ¥41bn

CAGR · 10 yrs +42.1%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Aug 2016	1.7	n/a	Cons. · Japanese GAAP
FYE Aug 2017	1.9	+10.6%	Cons. · Japanese GAAP
FYE Aug 2018	2.3	+19.7%	Cons. · Japanese GAAP
FYE Aug 2019	8.6	+274.8%	Cons. · Japanese GAAP
FYE Aug 2020	10.5	+21.6%	Cons. · Japanese GAAP
FYE Aug 2021	22.4	+113.1%	Cons. · Japanese GAAP
FYE Aug 2022	25.6	+14.5%	Cons. · Japanese GAAP
FYE Aug 2023	29.1	+13.6%	Cons. · Japanese GAAP
FYE Aug 2024	34.0	+16.9%	Cons. · Japanese GAAP
FYE Aug 2025	41.0	+20.6%	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 Aug 2025 ¥12bn

CAGR · 10 yrs +37.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Aug 2016	0.7	n/a	Cons. · Japanese GAAP
FYE Aug 2017	2.0	+198.4%	Cons. · Japanese GAAP
FYE Aug 2018	1.7	−17.2%	Cons. · Japanese GAAP
FYE Aug 2019	2.8	+67.6%	Cons. · Japanese GAAP
FYE Aug 2020	4.6	+65.4%	Cons. · Japanese GAAP
FYE Aug 2021	4.2	−8.1%	Cons. · Japanese GAAP
FYE Aug 2022	2.3	−44.8%	Cons. · Japanese GAAP
FYE Aug 2023	3.8	+65.0%	Cons. · Japanese GAAP
FYE Aug 2024	6.7	+75.2%	Cons. · Japanese GAAP
FYE Aug 2025	12.0	+79.1%	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Aug 2025 ¥3.5bn

CAGR · 10 yrs +40.3%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Aug 2016	0.2	n/a	Cons. · Japanese GAAP
FYE Aug 2017	0.3	+104.4%	Cons. · Japanese GAAP
FYE Aug 2018	0.4	+2.3%	Cons. · Japanese GAAP
FYE Aug 2019	0.7	+91.0%	Cons. · Japanese GAAP
FYE Aug 2020	1.0	+51.2%	Cons. · Japanese GAAP
FYE Aug 2021	1.5	+52.4%	Cons. · Japanese GAAP
FYE Aug 2022	1.2	−20.6%	Cons. · Japanese GAAP
FYE Aug 2023	2.5	+101.4%	Cons. · Japanese GAAP
FYE Aug 2024	0.1	−98.0%	Cons. · Japanese GAAP
FYE Aug 2025	3.5	+6964.0%	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 Aug 2025 ¥8.5bn

CAGR · 10 yrs +37.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Aug 2016	0.5	n/a	Cons. · Japanese GAAP
FYE Aug 2017	1.7	+229.9%	Cons. · Japanese GAAP
FYE Aug 2018	1.3	−21.2%	Cons. · Japanese GAAP
FYE Aug 2019	2.1	+61.3%	Cons. · Japanese GAAP
FYE Aug 2020	3.6	+69.9%	Cons. · Japanese GAAP
FYE Aug 2021	2.7	−25.2%	Cons. · Japanese GAAP
FYE Aug 2022	2.3	−13.7%	Cons. · Japanese GAAP
FYE Aug 2023	1.4	−40.7%	Cons. · Japanese GAAP
FYE Aug 2024	6.7	+388.0%	Cons. · Japanese GAAP
FYE Aug 2025	8.5	+27.5%	Cons. · Japanese GAAP

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

Intangible assets

FYE Aug 2025 ¥12bn

CAGR · 10 yrs +49.8%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Aug 2016	0.3	n/a	Cons. · Japanese GAAP
FYE Aug 2017	0.9	+168.1%	Cons. · Japanese GAAP
FYE Aug 2018	0.8	−5.8%	Cons. · Japanese GAAP
FYE Aug 2019	1.7	+104.1%	Cons. · Japanese GAAP
FYE Aug 2020	4.0	+140.2%	Cons. · Japanese GAAP
FYE Aug 2021	7.4	+87.9%	Cons. · Japanese GAAP
FYE Aug 2022	7.5	+0.2%	Cons. · Japanese GAAP
FYE Aug 2023	10.4	+39.8%	Cons. · Japanese GAAP
FYE Aug 2024	13.9	+33.1%	Cons. · Japanese GAAP
FYE Aug 2025	12.2	−12.2%	Cons. · Japanese GAAP

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

Goodwill

FYE Aug 2025 ¥7.9bn

CAGR · 10 yrs +50.2%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Aug 2016	0.2	n/a	Cons. · Japanese GAAP
FYE Aug 2017	0.7	+260.9%	Cons. · Japanese GAAP
FYE Aug 2018	0.6	−11.1%	Cons. · Japanese GAAP
FYE Aug 2019	1.2	+86.0%	Cons. · Japanese GAAP
FYE Aug 2020	3.0	+150.6%	Cons. · Japanese GAAP
FYE Aug 2021	6.5	+114.2%	Cons. · Japanese GAAP
FYE Aug 2022	6.5	+0.1%	Cons. · Japanese GAAP
FYE Aug 2023	9.0	+38.7%	Cons. · Japanese GAAP
FYE Aug 2024	9.3	+2.9%	Cons. · Japanese GAAP
FYE Aug 2025	7.9	−15.1%	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 Aug 2025 53.3%

Average · 10 yrs 53.1%

Fiscal year	Equity ratio %	YoY	Basis
FYE Aug 2016	51.8	n/a	Cons. · Japanese GAAP
FYE Aug 2017	36.1	−15.6pp	Cons. · Japanese GAAP
FYE Aug 2018	36.7	+0.6pp	Cons. · Japanese GAAP
FYE Aug 2019	57.7	+21.0pp	Cons. · Japanese GAAP
FYE Aug 2020	53.0	−4.7pp	Cons. · Japanese GAAP
FYE Aug 2021	65.3	+12.3pp	Cons. · Japanese GAAP
FYE Aug 2022	63.8	−1.6pp	Cons. · Japanese GAAP
FYE Aug 2023	58.8	−4.9pp	Cons. · Japanese GAAP
FYE Aug 2024	54.3	−4.5pp	Cons. · Japanese GAAP
FYE Aug 2025	53.3	−1.0pp	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 Aug 2025 29.3%

Average · 10 yrs 38.0%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Aug 2016	38.4	n/a	Cons. · Japanese GAAP
FYE Aug 2017	103.7	+65.2pp	Cons. · Japanese GAAP
FYE Aug 2018	71.7	−31.9pp	Cons. · Japanese GAAP
FYE Aug 2019	32.1	−39.6pp	Cons. · Japanese GAAP
FYE Aug 2020	43.6	+11.6pp	Cons. · Japanese GAAP
FYE Aug 2021	18.8	−24.8pp	Cons. · Japanese GAAP
FYE Aug 2022	9.1	−9.8pp	Cons. · Japanese GAAP
FYE Aug 2023	13.2	+4.1pp	Cons. · Japanese GAAP
FYE Aug 2024	19.7	+6.6pp	Cons. · Japanese GAAP
FYE Aug 2025	29.3	+9.6pp	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 Aug 2025 21.8%

Average · 10 yrs 16.2%

Fiscal year	ROE %	YoY	Basis
FYE Aug 2016	17.7	n/a	Cons. · Japanese GAAP
FYE Aug 2017	10.8	−6.8pp	Cons. · Japanese GAAP
FYE Aug 2018	16.0	+5.1pp	Cons. · Japanese GAAP
FYE Aug 2019	11.2	−4.7pp	Cons. · Japanese GAAP
FYE Aug 2020	15.7	+4.5pp	Cons. · Japanese GAAP
FYE Aug 2021	12.6	−3.1pp	Cons. · Japanese GAAP
FYE Aug 2022	19.4	+6.8pp	Cons. · Japanese GAAP
FYE Aug 2023	21.4	+2.0pp	Cons. · Japanese GAAP
FYE Aug 2024	15.1	−6.4pp	Cons. · Japanese GAAP
FYE Aug 2025	21.8	+6.7pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Aug 2025 11.6%

Average · 10 yrs 8.7%

Fiscal year	ROA %	YoY	Basis
FYE Aug 2016	9.2	n/a	Cons. · Japanese GAAP
FYE Aug 2017	3.9	−5.2pp	Cons. · Japanese GAAP
FYE Aug 2018	5.9	+1.9pp	Cons. · Japanese GAAP
FYE Aug 2019	6.5	+0.6pp	Cons. · Japanese GAAP
FYE Aug 2020	8.3	+1.8pp	Cons. · Japanese GAAP
FYE Aug 2021	8.2	−0.1pp	Cons. · Japanese GAAP
FYE Aug 2022	12.4	+4.1pp	Cons. · Japanese GAAP
FYE Aug 2023	12.6	+0.2pp	Cons. · Japanese GAAP
FYE Aug 2024	8.2	−4.4pp	Cons. · Japanese GAAP
FYE Aug 2025	11.6	+3.4pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Aug 2025 1.69×

CAGR · 10 yrs +0.3%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Aug 2016	1.64	n/a	Cons. · Japanese GAAP
FYE Aug 2017	1.53	−6.4%	Cons. · Japanese GAAP
FYE Aug 2018	2.04	+32.7%	Cons. · Japanese GAAP
FYE Aug 2019	1.30	−35.9%	Cons. · Japanese GAAP
FYE Aug 2020	1.45	+11.1%	Cons. · Japanese GAAP
FYE Aug 2021	1.34	−7.3%	Cons. · Japanese GAAP
FYE Aug 2022	1.61	+20.1%	Cons. · Japanese GAAP
FYE Aug 2023	1.78	+10.2%	Cons. · Japanese GAAP
FYE Aug 2024	1.76	−0.8%	Cons. · Japanese GAAP
FYE Aug 2025	1.69	−4.4%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Aug 2025 ¥16bn

CAGR · 10 yrs +67.8%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Aug 2016	0.1	n/a	Cons. · Japanese GAAP
FYE Aug 2017	0.4	+165.6%	Cons. · Japanese GAAP
FYE Aug 2018	1.2	+216.4%	Cons. · Japanese GAAP
FYE Aug 2019	1.1	−9.2%	Cons. · Japanese GAAP
FYE Aug 2020	2.3	+98.6%	Cons. · Japanese GAAP
FYE Aug 2021	4.8	+111.5%	Cons. · Japanese GAAP
FYE Aug 2022	7.4	+55.4%	Cons. · Japanese GAAP
FYE Aug 2023	10.2	+38.6%	Cons. · Japanese GAAP
FYE Aug 2024	9.1	−11.3%	Cons. · Japanese GAAP
FYE Aug 2025	15.7	+72.2%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Aug 2025 -¥12bn

Average · 10 yrs -¥4.5bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Aug 2016	-0.3	n/a	Cons. · Japanese GAAP
FYE Aug 2017	-1.3	n/a	Cons. · Japanese GAAP
FYE Aug 2018	-0.3	n/a	Cons. · Japanese GAAP
FYE Aug 2019	-1.2	n/a	Cons. · Japanese GAAP
FYE Aug 2020	-5.9	n/a	Cons. · Japanese GAAP
FYE Aug 2021	-5.4	n/a	Cons. · Japanese GAAP
FYE Aug 2022	-5.6	n/a	Cons. · Japanese GAAP
FYE Aug 2023	-3.8	n/a	Cons. · Japanese GAAP
FYE Aug 2024	-9.9	n/a	Cons. · Japanese GAAP
FYE Aug 2025	-11.7	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 Aug 2025 -¥1.2bn

Average · 10 yrs ¥1.5bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Aug 2016	0.5	n/a	Cons. · Japanese GAAP
FYE Aug 2017	1.2	+142.4%	Cons. · Japanese GAAP
FYE Aug 2018	-0.4	−129.8%	Cons. · Japanese GAAP
FYE Aug 2019	6.2	n/a	Cons. · Japanese GAAP
FYE Aug 2020	1.5	−75.8%	Cons. · Japanese GAAP
FYE Aug 2021	8.3	+448.7%	Cons. · Japanese GAAP
FYE Aug 2022	-3.1	−137.2%	Cons. · Japanese GAAP
FYE Aug 2023	-1.8	n/a	Cons. · Japanese GAAP
FYE Aug 2024	4.2	n/a	Cons. · Japanese GAAP
FYE Aug 2025	-1.2	−128.7%	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 Aug 2025 ¥24bn

CAGR · 10 yrs +34.5%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Aug 2016	1.6	n/a	Cons. · Japanese GAAP
FYE Aug 2017	2.0	+20.9%	Cons. · Japanese GAAP
FYE Aug 2018	2.5	+25.2%	Cons. · Japanese GAAP
FYE Aug 2019	8.7	+251.2%	Cons. · Japanese GAAP
FYE Aug 2020	6.5	−24.9%	Cons. · Japanese GAAP
FYE Aug 2021	14.1	+116.9%	Cons. · Japanese GAAP
FYE Aug 2022	12.9	−8.8%	Cons. · Japanese GAAP
FYE Aug 2023	17.6	+36.1%	Cons. · Japanese GAAP
FYE Aug 2024	20.8	+18.8%	Cons. · Japanese GAAP
FYE Aug 2025	23.6	+13.2%	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 Aug 2025 ¥4.0bn

Average · 10 yrs ¥0.7bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Aug 2016	-0.1	n/a	Cons. · Japanese GAAP
FYE Aug 2017	-0.9	n/a	Cons. · Japanese GAAP
FYE Aug 2018	1.0	n/a	Cons. · Japanese GAAP
FYE Aug 2019	-0.0	−101.9%	Cons. · Japanese GAAP
FYE Aug 2020	-3.7	n/a	Cons. · Japanese GAAP
FYE Aug 2021	-0.7	n/a	Cons. · Japanese GAAP
FYE Aug 2022	1.8	n/a	Cons. · Japanese GAAP
FYE Aug 2023	6.4	+260.7%	Cons. · Japanese GAAP
FYE Aug 2024	-0.9	−113.3%	Cons. · Japanese GAAP
FYE Aug 2025	4.0	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 Aug 2025 12.1%

Average · 10 yrs 8.5%

Fiscal year	OCF margin %	YoY	Basis
FYE Aug 2016	2.7	n/a	Cons. · Japanese GAAP
FYE Aug 2017	4.8	+2.1pp	Cons. · Japanese GAAP
FYE Aug 2018	9.8	+4.9pp	Cons. · Japanese GAAP
FYE Aug 2019	5.8	−4.0pp	Cons. · Japanese GAAP
FYE Aug 2020	7.8	+2.0pp	Cons. · Japanese GAAP
FYE Aug 2021	10.3	+2.5pp	Cons. · Japanese GAAP
FYE Aug 2022	11.4	+1.1pp	Cons. · Japanese GAAP
FYE Aug 2023	11.6	+0.2pp	Cons. · Japanese GAAP
FYE Aug 2024	8.2	−3.4pp	Cons. · Japanese GAAP
FYE Aug 2025	12.1	+3.8pp	Cons. · Japanese GAAP

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

Net cash

FYE Aug 2025 ¥12bn

CAGR · 10 yrs +31.8%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Aug 2016	1.0	n/a	Cons. · Japanese GAAP
FYE Aug 2017	-0.0	−102.1%	Cons. · Japanese GAAP
FYE Aug 2018	0.8	n/a	Cons. · Japanese GAAP
FYE Aug 2019	5.9	+621.7%	Cons. · Japanese GAAP
FYE Aug 2020	1.9	−67.3%	Cons. · Japanese GAAP
FYE Aug 2021	9.9	+412.9%	Cons. · Japanese GAAP
FYE Aug 2022	10.6	+6.5%	Cons. · Japanese GAAP
FYE Aug 2023	13.7	+29.7%	Cons. · Japanese GAAP
FYE Aug 2024	14.1	+3.0%	Cons. · Japanese GAAP
FYE Aug 2025	11.6	−18.1%	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 Aug 2025 ¥409bn

Change · 10 yrs +¥389bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Aug 2016	19.8	n/a
FYE Aug 2017	20.6	n/a
FYE Aug 2018	71.0	n/a
FYE Aug 2019	85.0	n/a
FYE Aug 2020	196	n/a
FYE Aug 2021	444	n/a
FYE Aug 2022	361	n/a
FYE Aug 2023	535	n/a
FYE Aug 2024	243	n/a
FYE Aug 2025	409	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 Aug 2025 1,530¥

Change · 10 yrs +160¥

Fiscal year	Share price ¥	Basis
FYE Aug 2016	1,370	n/a
FYE Aug 2017	1,418	n/a
FYE Aug 2018	4,879	n/a
FYE Aug 2019	5,400	n/a
FYE Aug 2020	12,270	n/a
FYE Aug 2021	25,147	n/a
FYE Aug 2022	20,287	n/a
FYE Aug 2023	30,003	n/a
FYE Aug 2024	13,640	n/a
FYE Aug 2025	1,530	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 Aug 2025 267,500,670shares

Change · 10 yrs +253,034,170 shares

Fiscal year	Shares outstanding shares	Basis
FYE Aug 2016	14,466,500	Parent
FYE Aug 2017	14,490,000	Parent
FYE Aug 2018	14,542,000	Parent
FYE Aug 2019	15,737,000	Parent
FYE Aug 2020	15,940,500	Parent
FYE Aug 2021	17,652,000	Parent
FYE Aug 2022	17,811,114	Parent
FYE Aug 2023	17,823,114	Parent
FYE Aug 2024	17,833,378	Parent
FYE Aug 2025	267,500,670	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 Aug 2025 33.93¥

Change · 10 yrs +12.53¥

Fiscal year	EPS ¥	Basis
FYE Aug 2016	21.40	Cons.
FYE Aug 2017	14.49	Cons.
FYE Aug 2018	25.49	Cons.
FYE Aug 2019	65.54	Cons.
FYE Aug 2020	104.50	Cons.
FYE Aug 2021	10.85	Cons.
FYE Aug 2022	18.85	Cons.
FYE Aug 2023	23.64	Cons.
FYE Aug 2024	19.43	Cons.
FYE Aug 2025	33.93	Cons.

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

BPS book value per share

FYE Aug 2025 153.41¥

Change · 10 yrs +33.04¥

Fiscal year	BPS ¥	Basis
FYE Aug 2016	120.37	Cons. · Japanese GAAP
FYE Aug 2017	132.97	Cons. · Japanese GAAP
FYE Aug 2018	158.64	Cons. · Japanese GAAP
FYE Aug 2019	549.48	Cons. · Japanese GAAP
FYE Aug 2020	659.46	Cons. · Japanese GAAP
FYE Aug 2021	1,268.76	Cons. · Japanese GAAP
FYE Aug 2022	1,440.00	Cons. · Japanese GAAP
FYE Aug 2023	1,634.23	Cons. · Japanese GAAP
FYE Aug 2024	1,908.78	Cons. · Japanese GAAP
FYE Aug 2025	153.41	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Aug 2025 45.09×

Average · 10 yrs 95.59×

Fiscal year	PER ×	Basis
FYE Aug 2016	64.03	Cons.
FYE Aug 2017	97.88	Cons.
FYE Aug 2018	191.42	Cons.
FYE Aug 2019	82.39	Cons.
FYE Aug 2020	117.42	Cons.
FYE Aug 2021	154.51	Cons.
FYE Aug 2022	71.75	Cons.
FYE Aug 2023	84.61	Cons.
FYE Aug 2024	46.80	Cons.
FYE Aug 2025	45.09	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 Aug 2025 9.92×

Average · 10 yrs 14.98×

Fiscal year	PBR ×	Basis
FYE Aug 2016	11.33	Cons.
FYE Aug 2017	10.62	Cons.
FYE Aug 2018	30.62	Cons.
FYE Aug 2019	9.79	Cons.
FYE Aug 2020	18.55	Cons.
FYE Aug 2021	19.68	Cons.
FYE Aug 2022	13.97	Cons.
FYE Aug 2023	18.22	Cons.
FYE Aug 2024	7.13	Cons.
FYE Aug 2025	9.92	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 Aug 2025 11,688people

Change · 10 yrs +11,205 people

Fiscal year	Group employees people	YoY	Basis
FYE Aug 2016	483	n/a	Cons.
FYE Aug 2017	966	+100.0%	Cons.
FYE Aug 2018	1,271	+31.6%	Cons.
FYE Aug 2019	2,001	+57.4%	Cons.
FYE Aug 2020	2,958	+47.8%	Cons.
FYE Aug 2021	4,440	+50.1%	Cons.
FYE Aug 2022	6,208	+39.8%	Cons.
FYE Aug 2023	8,423	+35.7%	Cons.
FYE Aug 2024	10,266	+21.9%	Cons.
FYE Aug 2025	11,688	+13.9%	Cons.

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

Parent-company employees

FYE Aug 2025 6,201people

Change · 10 yrs +5,892 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Aug 2016	309	n/a	Parent
FYE Aug 2017	417	+35.0%	Parent
FYE Aug 2018	657	+57.6%	Parent
FYE Aug 2019	1,026	+56.2%	Parent
FYE Aug 2020	1,581	+54.1%	Parent
FYE Aug 2021	2,254	+42.6%	Parent
FYE Aug 2022	3,247	+44.1%	Parent
FYE Aug 2023	4,396	+35.4%	Parent
FYE Aug 2024	5,495	+25.0%	Parent
FYE Aug 2025	6,201	+12.8%	Parent

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

Average annual pay parent company

FYE Aug 2025 ¥6.8m

Change · 7 yrs +¥1.2m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Aug 2016	n/a	n/a	Parent
FYE Aug 2017	n/a	n/a	Parent
FYE Aug 2018	n/a	n/a	Parent
FYE Aug 2019	5.7	n/a	Parent
FYE Aug 2020	5.7	+0.4%	Parent
FYE Aug 2021	5.9	+4.1%	Parent
FYE Aug 2022	6.0	+2.3%	Parent
FYE Aug 2023	6.4	+6.4%	Parent
FYE Aug 2024	6.7	+4.1%	Parent
FYE Aug 2025	6.8	+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 Aug 2025 38.0years

Change · 7 yrs +3.0 years

Fiscal year	Average age years	YoY	Basis
FYE Aug 2016	n/a	n/a	Parent
FYE Aug 2017	n/a	n/a	Parent
FYE Aug 2018	n/a	n/a	Parent
FYE Aug 2019	35.0	n/a	Parent
FYE Aug 2020	35.0	−0.0%	Parent
FYE Aug 2021	35.0	−0.0%	Parent
FYE Aug 2022	36.0	+2.9%	Parent
FYE Aug 2023	37.0	+2.8%	Parent
FYE Aug 2024	38.0	+2.7%	Parent
FYE Aug 2025	38.0	−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 Aug 2025 3.2years

Change · 7 yrs +1.2 years

Fiscal year	Average length of service years	YoY	Basis
FYE Aug 2016	n/a	n/a	Parent
FYE Aug 2017	n/a	n/a	Parent
FYE Aug 2018	n/a	n/a	Parent
FYE Aug 2019	2.0	n/a	Parent
FYE Aug 2020	2.0	−0.0%	Parent
FYE Aug 2021	2.0	−0.0%	Parent
FYE Aug 2022	2.0	−0.0%	Parent
FYE Aug 2023	2.0	−0.0%	Parent
FYE Aug 2024	3.0	+50.0%	Parent
FYE Aug 2025	3.2	+6.7%	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 Aug 2025 1,978people

Change · 10 yrs +1,563 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Aug 2016	415	n/a	n/a
FYE Aug 2017	486	+17.1%	n/a
FYE Aug 2018	534	+9.9%	n/a
FYE Aug 2019	845	+58.2%	n/a
FYE Aug 2020	1,104	+30.7%	n/a
FYE Aug 2021	1,260	+14.1%	n/a
FYE Aug 2022	1,489	+18.2%	n/a
FYE Aug 2023	1,759	+18.1%	n/a
FYE Aug 2024	1,923	+9.3%	n/a
FYE Aug 2025	1,978	+2.9%	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 Aug 2025 ¥11.1m

Change · 10 yrs −¥0.3m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Aug 2016	11.4	n/a	Cons.
FYE Aug 2017	8.5	−25.9%	Cons.
FYE Aug 2018	10.1	+18.9%	Cons.
FYE Aug 2019	9.8	−3.0%	Cons.
FYE Aug 2020	9.7	−0.6%	Cons.
FYE Aug 2021	10.4	+6.7%	Cons.
FYE Aug 2022	10.4	+0.9%	Cons.
FYE Aug 2023	10.5	−0.0%	Cons.
FYE Aug 2024	10.8	+3.1%	Cons.
FYE Aug 2025	11.1	+3.1%	Cons.

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

Operating profit per employee

FYE Aug 2025 ¥1.3m

Change · 10 yrs +¥0.3m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Aug 2016	1.1	n/a	Cons.
FYE Aug 2017	0.4	−62.2%	Cons.
FYE Aug 2018	0.9	+133.1%	Cons.
FYE Aug 2019	0.8	−18.5%	Cons.
FYE Aug 2020	0.8	+3.3%	Cons.
FYE Aug 2021	0.9	+13.1%	Cons.
FYE Aug 2022	1.1	+23.8%	Cons.
FYE Aug 2023	1.4	+23.3%	Cons.
FYE Aug 2024	1.0	−25.2%	Cons.
FYE Aug 2025	1.3	+30.3%	Cons.

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

Disclaimer

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

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

Data API

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

/api/3697/company.json ·/api/3697/history.json ·/api/3697/ceo.json ·/api/3697/financials.json ·/api/3697/financials/segment.json ·/api/3697/financials/pl.json ·/api/3697/financials/cf.json ·/api/3697/financials/bs.json ·/api/3697/financials/employee.json ·/api/3697/financials/stock.json ·/api/3697/financials.csv ·/api/3697/financials_history.csv

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