Financials

Shin-Etsu Chemical: FYE Mar 2026 and ten years of results (47 metrics)

FYE Mar 2026 · Revenue¥2.57tnYoY +0.5%

FYE Mar 2026 · Operating profit¥635bnYoY −14.4%

FYE Mar 2026 · Net profit¥474bnYoY −11.2%

FYE Mar 2026 · Equity ratio78.9%YoY −3.9pp

FYE Mar 2026 · Group employees27,342YoY +68

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.24tn	n/a	¥239bn	n/a	19.3%	¥176bn	Mori Shunzo	<a class="en-history_person" href="/tse/4063/executives/ceo/saito-yasuhiko/" hreflang="ja">Saito Yasuhiko</a> becomes president
FYE Mar 2018Consolidated	¥1.44tn	+16.5%	¥337bn	+41.2%	23.4%	¥266bn	Saito Yasuhiko	—
FYE Mar 2019Consolidated	¥1.59tn	+10.6%	¥404bn	+19.9%	25.3%	¥309bn	Saito Yasuhiko	—
FYE Mar 2020Consolidated	¥1.54tn	−3.2%	¥406bn	+0.6%	26.3%	¥314bn	Saito Yasuhiko	—
FYE Mar 2021Consolidated	¥1.50tn	−3.0%	¥392bn	−3.4%	26.2%	¥294bn	Saito Yasuhiko	Fully integrated production from rock salt to PVC is completed
FYE Mar 2022Consolidated	¥2.07tn	+38.6%	¥676bn	+72.4%	32.6%	¥500bn	Saito Yasuhiko	—
FYE Mar 2023Consolidated	¥2.81tn	+35.4%	¥998bn	+47.6%	35.5%	¥708bn	Saito Yasuhiko	—
FYE Mar 2024Consolidated	¥2.41tn	−14.0%	¥701bn	−29.8%	29.0%	¥520bn	Saito Yasuhiko	Chairman <a class="en-history_person" href="/tse/4063/executives/ceo/kanagawa-chihiro/" hreflang="ja">Kanagawa Chihiro</a> dies at 96
FYE Mar 2025Consolidated	¥2.56tn	+6.1%	¥742bn	+5.9%	29.0%	¥534bn	Saito Yasuhiko	Plaquemine lifts PVC capacity to 3.64m tonnes; Mimasu Semiconductor taken wholly in hand
FYE Mar 2026Consolidated	¥2.57tn	+0.5%	¥635bn	−14.4%	24.7%	¥474bn	Saito Yasuhiko	—

How it compares

Mitsubishi Chemical Group¥3.70tnFY2025Operating margin 0.8%

Shin-Etsu Chemical¥2.57tnFY2025Operating margin 24.7%

Sumitomo Chemical¥2.33tnFY2025Operating margin 6.5%

Mitsubishi Chemical CorporationDelisted 2005

Mitsui Chemicals¥1.67tnFY2025Operating margin 4.4%Resonac Holdings¥1.35tnFY2025Operating margin 3.5%Sekisui Chemical¥1.31tnFY2025Operating margin 8.1%Tosoh¥1.02tnFY2025Operating margin 9.4%KANEKA CORPORATION¥812bnFY2025Operating margin 4.1%Daicel¥580bnFY2025Operating margin 7.3%

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

Where the revenue goes

¥ bn

Cost of sales SG&A Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥2.57tn

CAGR · 10 yrs +8.5%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,237	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,441	+16.5%	Cons. · Japanese GAAP
FYE Mar 2019	1,594	+10.6%	Cons. · Japanese GAAP
FYE Mar 2020	1,544	−3.2%	Cons. · Japanese GAAP
FYE Mar 2021	1,497	−3.0%	Cons. · Japanese GAAP
FYE Mar 2022	2,074	+38.6%	Cons. · Japanese GAAP
FYE Mar 2023	2,809	+35.4%	Cons. · Japanese GAAP
FYE Mar 2024	2,415	−14.0%	Cons. · Japanese GAAP
FYE Mar 2025	2,561	+6.1%	Cons. · Japanese GAAP
FYE Mar 2026	2,574	+0.5%	Cons. · Japanese GAAP

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

Cost of sales

FYE Mar 2026 ¥1.69tn

CAGR · 10 yrs +7.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	868	n/a	Cons. · Japanese GAAP
FYE Mar 2018	963	+10.9%	Cons. · Japanese GAAP
FYE Mar 2019	1,040	+8.0%	Cons. · Japanese GAAP
FYE Mar 2020	988	−5.0%	Cons. · Japanese GAAP
FYE Mar 2021	953	−3.5%	Cons. · Japanese GAAP
FYE Mar 2022	1,206	+26.6%	Cons. · Japanese GAAP
FYE Mar 2023	1,595	+32.2%	Cons. · Japanese GAAP
FYE Mar 2024	1,504	−5.7%	Cons. · Japanese GAAP
FYE Mar 2025	1,577	+4.9%	Cons. · Japanese GAAP
FYE Mar 2026	1,693	+7.4%	Cons. · Japanese GAAP

Definition: The cost of what was sold
Formula: Cost of sales line of the income statement
Source: Securities report (XBRL)

Gross profit

FYE Mar 2026 ¥881bn

CAGR · 10 yrs +10.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	369	n/a	Cons. · Japanese GAAP
FYE Mar 2018	478	+29.7%	Cons. · Japanese GAAP
FYE Mar 2019	554	+15.8%	Cons. · Japanese GAAP
FYE Mar 2020	556	+0.3%	Cons. · Japanese GAAP
FYE Mar 2021	544	−2.2%	Cons. · Japanese GAAP
FYE Mar 2022	868	+59.6%	Cons. · Japanese GAAP
FYE Mar 2023	1,214	+39.9%	Cons. · Japanese GAAP
FYE Mar 2024	911	−24.9%	Cons. · Japanese GAAP
FYE Mar 2025	984	+8.0%	Cons. · Japanese GAAP
FYE Mar 2026	881	−10.5%	Cons. · Japanese GAAP

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

SG&A selling, general and administrative expenses

FYE Mar 2026 ¥246bn

CAGR · 10 yrs +7.3%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	130	n/a	Cons. · Japanese GAAP
FYE Mar 2018	142	+8.6%	Cons. · Japanese GAAP
FYE Mar 2019	150	+6.2%	Cons. · Japanese GAAP
FYE Mar 2020	150	−0.4%	Cons. · Japanese GAAP
FYE Mar 2021	151	+1.2%	Cons. · Japanese GAAP
FYE Mar 2022	192	+26.5%	Cons. · Japanese GAAP
FYE Mar 2023	216	+12.6%	Cons. · Japanese GAAP
FYE Mar 2024	210	−2.7%	Cons. · Japanese GAAP
FYE Mar 2025	242	+15.2%	Cons. · Japanese GAAP
FYE Mar 2026	246	+1.5%	Cons. · Japanese GAAP

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

Operating profit

FYE Mar 2026 ¥635bn

CAGR · 10 yrs +11.5%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	239	n/a	Cons. · Japanese GAAP
FYE Mar 2018	337	+41.2%	Cons. · Japanese GAAP
FYE Mar 2019	404	+19.9%	Cons. · Japanese GAAP
FYE Mar 2020	406	+0.6%	Cons. · Japanese GAAP
FYE Mar 2021	392	−3.4%	Cons. · Japanese GAAP
FYE Mar 2022	676	+72.4%	Cons. · Japanese GAAP
FYE Mar 2023	998	+47.6%	Cons. · Japanese GAAP
FYE Mar 2024	701	−29.8%	Cons. · Japanese GAAP
FYE Mar 2025	742	+5.9%	Cons. · Japanese GAAP
FYE Mar 2026	635	−14.4%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥88bn

CAGR · 10 yrs +24.6%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	12.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.2	+40.8%	Cons. · Japanese GAAP
FYE Mar 2019	23.3	+35.6%	Cons. · Japanese GAAP
FYE Mar 2020	24.5	+5.4%	Cons. · Japanese GAAP
FYE Mar 2021	21.3	−13.1%	Cons. · Japanese GAAP
FYE Mar 2022	28.6	+34.0%	Cons. · Japanese GAAP
FYE Mar 2023	35.1	+22.8%	Cons. · Japanese GAAP
FYE Mar 2024	98.3	+180.2%	Cons. · Japanese GAAP
FYE Mar 2025	103	+4.7%	Cons. · Japanese GAAP
FYE Mar 2026	88.4	−14.1%	Cons. · Japanese GAAP

Definition: Income from outside the core business
Formula: Non-operating income line of the income statement
Source: Securities report (XBRL)

Non-operating expenses

FYE Mar 2026 ¥15bn

CAGR · 10 yrs +6.5%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	8.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.7	+57.6%	Cons. · Japanese GAAP
FYE Mar 2019	11.7	−14.7%	Cons. · Japanese GAAP
FYE Mar 2020	12.3	+5.7%	Cons. · Japanese GAAP
FYE Mar 2021	8.4	−31.7%	Cons. · Japanese GAAP
FYE Mar 2022	10.5	+24.1%	Cons. · Japanese GAAP
FYE Mar 2023	13.1	+25.1%	Cons. · Japanese GAAP
FYE Mar 2024	12.1	−7.3%	Cons. · Japanese GAAP
FYE Mar 2025	24.5	+101.8%	Cons. · Japanese GAAP
FYE Mar 2026	15.3	−37.4%	Cons. · Japanese GAAP

Definition: Costs arising outside the core business
Formula: Non-operating expenses line of the income statement
Source: Securities report (XBRL)

Ordinary profit keijo rieki

FYE Mar 2026 ¥708bn

CAGR · 10 yrs +12.7%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	242	n/a	Cons. · Japanese GAAP
FYE Mar 2018	340	+40.5%	Cons. · Japanese GAAP
FYE Mar 2019	415	+22.0%	Cons. · Japanese GAAP
FYE Mar 2020	418	+0.7%	Cons. · Japanese GAAP
FYE Mar 2021	405	−3.1%	Cons. · Japanese GAAP
FYE Mar 2022	694	+71.4%	Cons. · Japanese GAAP
FYE Mar 2023	1,020	+46.9%	Cons. · Japanese GAAP
FYE Mar 2024	787	−22.8%	Cons. · Japanese GAAP
FYE Mar 2025	821	+4.2%	Cons. · Japanese GAAP
FYE Mar 2026	708	−13.7%	Cons. · Japanese GAAP

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

Extraordinary income

FYE Mar 2026 ¥11bn

CAGR · 5 yrs +8.0%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	1.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	23.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	16.4	−30.4%	Cons. · Japanese GAAP
FYE Mar 2026	10.6	−35.6%	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥474bn

CAGR · 10 yrs +11.7%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	176	n/a	Cons. · Japanese GAAP
FYE Mar 2018	266	+51.3%	Cons. · Japanese GAAP
FYE Mar 2019	309	+16.1%	Cons. · Japanese GAAP
FYE Mar 2020	314	+1.6%	Cons. · Japanese GAAP
FYE Mar 2021	294	−6.5%	Cons. · Japanese GAAP
FYE Mar 2022	500	+70.3%	Cons. · Japanese GAAP
FYE Mar 2023	708	+41.6%	Cons. · Japanese GAAP
FYE Mar 2024	520	−26.6%	Cons. · Japanese GAAP
FYE Mar 2025	534	+2.7%	Cons. · Japanese GAAP
FYE Mar 2026	474	−11.2%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 34.2%

Average · 10 yrs 36.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	29.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.2	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2019	34.8	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2020	36.0	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	36.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	41.8	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2023	43.2	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	37.7	−5.5pp	Cons. · Japanese GAAP
FYE Mar 2025	38.4	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	34.2	−4.2pp	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 Mar 2026 24.7%

Average · 10 yrs 27.1%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	19.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.4	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2019	25.3	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2020	26.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2021	26.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	32.6	+6.4pp	Cons. · Japanese GAAP
FYE Mar 2023	35.5	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	29.0	−6.5pp	Cons. · Japanese GAAP
FYE Mar 2025	29.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	24.7	−4.3pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Mar 2026 27.5%

Average · 10 yrs 28.5%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	19.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.6	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2019	26.1	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2020	27.1	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2021	27.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	33.5	+6.4pp	Cons. · Japanese GAAP
FYE Mar 2023	36.3	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2024	32.6	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2025	32.0	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	27.5	−4.5pp	Cons. · Japanese GAAP

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

Net margin

FYE Mar 2026 18.4%

Average · 10 yrs 20.2%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	14.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.5	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2019	19.4	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	20.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2021	19.6	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	24.1	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2023	25.2	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	21.5	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2025	20.9	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	18.4	−2.4pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 65.8%

Average · 10 yrs 63.4%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	70.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	66.8	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2019	65.2	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2020	64.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	63.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	58.2	−5.5pp	Cons. · Japanese GAAP
FYE Mar 2023	56.8	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	62.3	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2025	61.6	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	65.8	+4.2pp	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 Mar 2026 9.5%

Average · 10 yrs 9.4%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.8	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	9.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	9.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	10.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	9.2	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	7.7	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2024	8.7	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	9.4	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	9.5	+0.1pp	Cons. · Japanese GAAP

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

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

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥5.66tn

CAGR · 10 yrs +8.8%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	2,656	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,903	+9.3%	Cons. · Japanese GAAP
FYE Mar 2019	3,039	+4.7%	Cons. · Japanese GAAP
FYE Mar 2020	3,230	+6.3%	Cons. · Japanese GAAP
FYE Mar 2021	3,381	+4.6%	Cons. · Japanese GAAP
FYE Mar 2022	4,053	+19.9%	Cons. · Japanese GAAP
FYE Mar 2023	4,730	+16.7%	Cons. · Japanese GAAP
FYE Mar 2024	5,148	+8.8%	Cons. · Japanese GAAP
FYE Mar 2025	5,637	+9.5%	Cons. · Japanese GAAP
FYE Mar 2026	5,662	+0.4%	Cons. · Japanese GAAP

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

Equity net assets, shareholders' equity

FYE Mar 2026 ¥4.46tn

CAGR · 10 yrs +8.6%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	2,133	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,352	+10.3%	Cons. · Japanese GAAP
FYE Mar 2019	2,467	+4.9%	Cons. · Japanese GAAP
FYE Mar 2020	2,654	+7.6%	Cons. · Japanese GAAP
FYE Mar 2021	2,815	+6.1%	Cons. · Japanese GAAP
FYE Mar 2022	3,329	+18.3%	Cons. · Japanese GAAP
FYE Mar 2023	3,874	+16.4%	Cons. · Japanese GAAP
FYE Mar 2024	4,263	+10.0%	Cons. · Japanese GAAP
FYE Mar 2025	4,662	+9.4%	Cons. · Japanese GAAP
FYE Mar 2026	4,464	−4.2%	Cons. · Japanese GAAP

Definition: The part of the funding that never has to be repaid
Formula: Net assets line of the balance sheet
Source: Securities report (XBRL)

Interest-bearing debt

FYE Mar 2026 ¥243bn

CAGR · 10 yrs +36.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	14.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.5	+8.1%	Cons. · Japanese GAAP
FYE Mar 2019	14.6	−5.7%	Cons. · Japanese GAAP
FYE Mar 2020	23.4	+60.1%	Cons. · Japanese GAAP
FYE Mar 2021	27.8	+18.5%	Cons. · Japanese GAAP
FYE Mar 2022	30.4	+9.5%	Cons. · Japanese GAAP
FYE Mar 2023	29.8	−1.9%	Cons. · Japanese GAAP
FYE Mar 2024	24.3	−18.5%	Cons. · Japanese GAAP
FYE Mar 2025	16.8	−30.7%	Cons. · Japanese GAAP
FYE Mar 2026	243	+1344.7%	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Mar 2026 ¥6.9bn

CAGR · 10 yrs −6.6%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	12.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.1	−44.5%	Cons. · Japanese GAAP
FYE Mar 2019	7.0	−1.2%	Cons. · Japanese GAAP
FYE Mar 2020	8.3	+18.4%	Cons. · Japanese GAAP
FYE Mar 2021	11.8	+41.9%	Cons. · Japanese GAAP
FYE Mar 2022	13.5	+14.4%	Cons. · Japanese GAAP
FYE Mar 2023	11.0	−18.3%	Cons. · Japanese GAAP
FYE Mar 2024	10.4	−5.6%	Cons. · Japanese GAAP
FYE Mar 2025	9.4	−9.6%	Cons. · Japanese GAAP
FYE Mar 2026	6.9	−26.2%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Mar 2026 ¥236bn

CAGR · 10 yrs +74.5%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.4	+434.2%	Cons. · Japanese GAAP
FYE Mar 2019	7.6	−9.6%	Cons. · Japanese GAAP
FYE Mar 2020	15.1	+98.4%	Cons. · Japanese GAAP
FYE Mar 2021	16.0	+5.7%	Cons. · Japanese GAAP
FYE Mar 2022	16.9	+6.0%	Cons. · Japanese GAAP
FYE Mar 2023	18.8	+11.1%	Cons. · Japanese GAAP
FYE Mar 2024	13.9	−26.0%	Cons. · Japanese GAAP
FYE Mar 2025	7.5	−46.4%	Cons. · Japanese GAAP
FYE Mar 2026	236	+3071.8%	Cons. · Japanese GAAP

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

Average · 9 yrs ¥0.0m

Fiscal year	Bonds ¥ m	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

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

Intangible assets

FYE Mar 2026 ¥35bn

CAGR · 10 yrs +14.5%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	10.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.4	−8.1%	Cons. · Japanese GAAP
FYE Mar 2019	8.7	−7.1%	Cons. · Japanese GAAP
FYE Mar 2020	10.1	+15.5%	Cons. · Japanese GAAP
FYE Mar 2021	8.9	−11.7%	Cons. · Japanese GAAP
FYE Mar 2022	10.5	+18.1%	Cons. · Japanese GAAP
FYE Mar 2023	10.4	−1.7%	Cons. · Japanese GAAP
FYE Mar 2024	10.2	−1.5%	Cons. · Japanese GAAP
FYE Mar 2025	36.9	+262.0%	Cons. · Japanese GAAP
FYE Mar 2026	34.7	−6.0%	Cons. · Japanese GAAP

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

Goodwill

FYE Mar 2026 ¥26bn

CAGR · 10 yrs +21.8%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	4.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.9	−9.1%	Cons. · Japanese GAAP
FYE Mar 2019	3.1	−21.6%	Cons. · Japanese GAAP
FYE Mar 2020	4.1	+32.6%	Cons. · Japanese GAAP
FYE Mar 2021	3.2	−22.1%	Cons. · Japanese GAAP
FYE Mar 2022	4.2	+31.9%	Cons. · Japanese GAAP
FYE Mar 2023	2.2	−47.9%	Cons. · Japanese GAAP
FYE Mar 2024	1.4	−33.7%	Cons. · Japanese GAAP
FYE Mar 2025	27.4	+1793.1%	Cons. · Japanese GAAP
FYE Mar 2026	25.6	−6.8%	Cons. · Japanese GAAP

Definition: What an acquisition cost above the net assets it brought
Formula: Goodwill line of the balance sheet
Source: Securities report (XBRL)

Equity ratio

FYE Mar 2026 78.9%

Average · 10 yrs 81.6%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	80.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	81.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	81.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	82.2	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2021	83.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2022	82.1	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2023	81.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	82.8	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	82.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	78.9	−3.9pp	Cons. · Japanese GAAP

Definition: How much of the balance sheet is funded without debt
Formula: Equity ÷ total assets
Source: Securities report (XBRL)

Debt-to-equity ratio D/E ratio

FYE Mar 2026 5.4%

Average · 10 yrs 1.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.7	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	0.6	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	0.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	1.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	0.9	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	0.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	0.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	0.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	5.4	+5.1pp	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 Mar 2026 10.6%

Average · 10 yrs 12.2%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.3	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2019	12.5	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	11.8	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	10.4	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2022	15.0	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2023	18.3	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2024	12.2	−6.1pp	Cons. · Japanese GAAP
FYE Mar 2025	11.5	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	10.6	−0.8pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 8.4%

Average · 10 yrs 10.0%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	6.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.2	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2019	10.2	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	9.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	8.7	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	12.3	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2023	15.0	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2024	10.1	−4.9pp	Cons. · Japanese GAAP
FYE Mar 2025	9.5	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	8.4	−1.1pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.45×

CAGR · 10 yrs −0.3%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.47	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.50	+6.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.52	+5.7%	Cons. · Japanese GAAP
FYE Mar 2020	0.48	−8.9%	Cons. · Japanese GAAP
FYE Mar 2021	0.44	−7.3%	Cons. · Japanese GAAP
FYE Mar 2022	0.51	+15.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.59	+16.0%	Cons. · Japanese GAAP
FYE Mar 2024	0.47	−21.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.45	−3.1%	Cons. · Japanese GAAP
FYE Mar 2026	0.45	−0.0%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥713bn

CAGR · 10 yrs +10.5%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	291	n/a	Cons. · Japanese GAAP
FYE Mar 2018	333	+14.4%	Cons. · Japanese GAAP
FYE Mar 2019	401	+20.4%	Cons. · Japanese GAAP
FYE Mar 2020	412	+2.9%	Cons. · Japanese GAAP
FYE Mar 2021	401	−2.7%	Cons. · Japanese GAAP
FYE Mar 2022	554	+38.0%	Cons. · Japanese GAAP
FYE Mar 2023	788	+42.4%	Cons. · Japanese GAAP
FYE Mar 2024	755	−4.2%	Cons. · Japanese GAAP
FYE Mar 2025	882	+16.8%	Cons. · Japanese GAAP
FYE Mar 2026	713	−19.2%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Mar 2026 -¥545bn

Average · 10 yrs -¥329bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-238	−18648.2%	Cons. · Japanese GAAP
FYE Mar 2019	-182	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-395	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-251	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-254	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-186	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-1,099	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-143	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-545	n/a	Cons. · Japanese GAAP

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

Financing cash flow

FYE Mar 2026 -¥505bn

Average · 10 yrs -¥231bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-37.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-50.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-165	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-94.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-91.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-123	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-424	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-369	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-455	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-505	n/a	Cons. · Japanese GAAP

Definition: Cash raised from, or returned to, lenders and shareholders
Formula: Cash flow from financing activities
Source: Securities report (XBRL)

Cash and equivalents

FYE Mar 2026 ¥562bn

CAGR · 10 yrs −2.9%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	733	n/a	Cons. · Japanese GAAP
FYE Mar 2018	780	+6.4%	Cons. · Japanese GAAP
FYE Mar 2019	828	+6.1%	Cons. · Japanese GAAP
FYE Mar 2020	745	−10.0%	Cons. · Japanese GAAP
FYE Mar 2021	802	+7.6%	Cons. · Japanese GAAP
FYE Mar 2022	1,009	+25.9%	Cons. · Japanese GAAP
FYE Mar 2023	1,247	+23.6%	Cons. · Japanese GAAP
FYE Mar 2024	590	−52.7%	Cons. · Japanese GAAP
FYE Mar 2025	883	+49.6%	Cons. · Japanese GAAP
FYE Mar 2026	562	−36.3%	Cons. · Japanese GAAP

Definition: Cash on hand at the year end
Formula: Closing balance in the cash flow statement
Source: Securities report (XBRL)

Free cash flow

FYE Mar 2026 ¥168bn

CAGR · 10 yrs −6.0%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	292	n/a	Cons. · Japanese GAAP
FYE Mar 2018	95.2	−67.4%	Cons. · Japanese GAAP
FYE Mar 2019	219	+130.2%	Cons. · Japanese GAAP
FYE Mar 2020	17.8	−91.9%	Cons. · Japanese GAAP
FYE Mar 2021	150	+743.5%	Cons. · Japanese GAAP
FYE Mar 2022	300	+99.3%	Cons. · Japanese GAAP
FYE Mar 2023	602	+100.6%	Cons. · Japanese GAAP
FYE Mar 2024	-344	−157.2%	Cons. · Japanese GAAP
FYE Mar 2025	739	n/a	Cons. · Japanese GAAP
FYE Mar 2026	168	−77.3%	Cons. · Japanese GAAP

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

Operating cash flow margin

FYE Mar 2026 27.7%

Average · 10 yrs 27.3%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	23.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	25.1	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2020	26.7	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	26.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	26.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	28.1	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	31.3	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	34.4	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2026	27.7	−6.7pp	Cons. · Japanese GAAP

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

Net cash

FYE Mar 2026 ¥319bn

CAGR · 10 yrs −8.6%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	719	n/a	Cons. · Japanese GAAP
FYE Mar 2018	765	+6.4%	Cons. · Japanese GAAP
FYE Mar 2019	814	+6.4%	Cons. · Japanese GAAP
FYE Mar 2020	722	−11.3%	Cons. · Japanese GAAP
FYE Mar 2021	774	+7.2%	Cons. · Japanese GAAP
FYE Mar 2022	979	+26.5%	Cons. · Japanese GAAP
FYE Mar 2023	1,218	+24.4%	Cons. · Japanese GAAP
FYE Mar 2024	566	−53.5%	Cons. · Japanese GAAP
FYE Mar 2025	866	+53.0%	Cons. · Japanese GAAP
FYE Mar 2026	319	−63.2%	Cons. · Japanese GAAP

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

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

Shares outstanding

FYE Mar 2026 1,984,995,000shares

Change · 10 yrs +1,552,889,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	432,106,000	Parent
FYE Mar 2018	432,106,000	Parent
FYE Mar 2019	427,606,000	Parent
FYE Mar 2020	416,662,000	Parent
FYE Mar 2021	416,662,000	Parent
FYE Mar 2022	416,662,000	Parent
FYE Mar 2023	404,824,000	Parent
FYE Mar 2024	2,001,691,000	Parent
FYE Mar 2025	1,984,995,000	Parent
FYE Mar 2026	1,984,995,000	Parent

Definition: How many shares exist
Formula: Shares issued, from the key figures of the filing
Source: Securities report (XBRL)

BPS book value per share

FYE Mar 2026 2,249.09¥

Change · 10 yrs −2,687.17¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	4,936.26	Cons. · Japanese GAAP
FYE Mar 2018	5,442.57	Cons. · Japanese GAAP
FYE Mar 2019	5,768.73	Cons. · Japanese GAAP
FYE Mar 2020	6,370.18	Cons. · Japanese GAAP
FYE Mar 2021	6,756.44	Cons. · Japanese GAAP
FYE Mar 2022	7,990.40	Cons. · Japanese GAAP
FYE Mar 2023	9,570.11	Cons. · Japanese GAAP
FYE Mar 2024	2,129.58	Cons. · Japanese GAAP
FYE Mar 2025	2,348.86	Cons. · Japanese GAAP
FYE Mar 2026	2,249.09	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 24.80×

Average · 10 yrs 18.81×

Fiscal year	PER ×	Basis
FYE Mar 2017	23.40	Cons.
FYE Mar 2018	17.60	Cons.
FYE Mar 2019	12.80	Cons.
FYE Mar 2020	14.20	Cons.
FYE Mar 2021	26.30	Cons.
FYE Mar 2022	15.60	Cons.
FYE Mar 2023	12.30	Cons.
FYE Mar 2024	25.40	Cons.
FYE Mar 2025	15.70	Cons.
FYE Mar 2026	24.80	Cons.

Definition: How many years of earnings the price stands for
Formula: Year-end price ÷ EPS
Source: Securities report (XBRL)

Workforce and productivity Headcount, pay and what each employee accounts for

Group employees

FYE Mar 2026 27,342people

Change · 10 yrs +8,136 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	19,206	n/a	Cons.
FYE Mar 2018	20,155	+4.9%	Cons.
FYE Mar 2019	21,735	+7.8%	Cons.
FYE Mar 2020	22,783	+4.8%	Cons.
FYE Mar 2021	24,069	+5.6%	Cons.
FYE Mar 2022	24,954	+3.7%	Cons.
FYE Mar 2023	25,717	+3.1%	Cons.
FYE Mar 2024	26,004	+1.1%	Cons.
FYE Mar 2025	27,274	+4.9%	Cons.
FYE Mar 2026	27,342	+0.2%	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 Mar 2026 4,059people

Change · 10 yrs +1,220 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	2,839	n/a	Parent
FYE Mar 2018	2,904	+2.3%	Parent
FYE Mar 2019	3,011	+3.7%	Parent
FYE Mar 2020	3,140	+4.3%	Parent
FYE Mar 2021	3,238	+3.1%	Parent
FYE Mar 2022	3,341	+3.2%	Parent
FYE Mar 2023	3,481	+4.2%	Parent
FYE Mar 2024	3,680	+5.7%	Parent
FYE Mar 2025	3,881	+5.5%	Parent
FYE Mar 2026	4,059	+4.6%	Parent

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

Average annual pay parent company

FYE Mar 2026 ¥9.0m

Change · 10 yrs +¥0.6m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	8.4	n/a	Parent
FYE Mar 2018	8.4	−0.0%	Parent
FYE Mar 2019	8.6	+1.5%	Parent
FYE Mar 2020	8.5	−0.1%	Parent
FYE Mar 2021	8.5	−0.7%	Parent
FYE Mar 2022	8.5	+0.7%	Parent
FYE Mar 2023	8.8	+2.6%	Parent
FYE Mar 2024	8.9	+1.1%	Parent
FYE Mar 2025	8.8	−1.2%	Parent
FYE Mar 2026	9.0	+2.6%	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 −1.3 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	42.1	n/a	Parent
FYE Mar 2020	42.1	−0.0%	Parent
FYE Mar 2021	42.2	+0.2%	Parent
FYE Mar 2022	42.2	−0.0%	Parent
FYE Mar 2023	42.2	−0.0%	Parent
FYE Mar 2024	41.9	−0.7%	Parent
FYE Mar 2025	41.3	−1.4%	Parent
FYE Mar 2026	40.8	−1.2%	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 Mar 2026 18.8years

Change · 10 yrs −1.5 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	20.3	n/a	Parent
FYE Mar 2018	20.3	−0.0%	Parent
FYE Mar 2019	20.1	−1.0%	Parent
FYE Mar 2020	20.2	+0.5%	Parent
FYE Mar 2021	20.2	−0.0%	Parent
FYE Mar 2022	20.3	+0.5%	Parent
FYE Mar 2023	20.3	−0.0%	Parent
FYE Mar 2024	20.1	−1.0%	Parent
FYE Mar 2025	19.2	−4.5%	Parent
FYE Mar 2026	18.8	−2.1%	Parent

Definition: How long the average employee has been with the company
Formula: Average years of service, from the employee section of the filing
Source: Securities report (XBRL)

Temporary employees

FYE Mar 2026 n/a

Change · 5 yrs +358 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	2,097	n/a	n/a
FYE Mar 2018	2,512	+19.8%	n/a
FYE Mar 2019	2,645	+5.3%	n/a
FYE Mar 2020	2,914	+10.2%	n/a
FYE Mar 2021	2,455	−15.8%	n/a
FYE Mar 2022	n/a	n/a	n/a
FYE Mar 2023	n/a	n/a	n/a
FYE Mar 2024	n/a	n/a	n/a
FYE Mar 2025	n/a	n/a	n/a
FYE Mar 2026	n/a	n/a	n/a

Definition: Average number of temporary and part-time staff over the year
Formula: Average temporary headcount, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Mar 2026 ¥94.1m

Change · 10 yrs +¥29.7m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	64.4	n/a	Cons.
FYE Mar 2018	71.5	+11.0%	Cons.
FYE Mar 2019	73.3	+2.5%	Cons.
FYE Mar 2020	67.7	−7.6%	Cons.
FYE Mar 2021	62.2	−8.2%	Cons.
FYE Mar 2022	83.1	+33.7%	Cons.
FYE Mar 2023	109	+31.4%	Cons.
FYE Mar 2024	92.9	−15.0%	Cons.
FYE Mar 2025	93.9	+1.1%	Cons.
FYE Mar 2026	94.1	+0.2%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥23.2m

Change · 10 yrs +¥10.8m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	12.4	n/a	Cons.
FYE Mar 2018	16.7	+34.5%	Cons.
FYE Mar 2019	18.6	+11.1%	Cons.
FYE Mar 2020	17.8	−4.0%	Cons.
FYE Mar 2021	16.3	−8.6%	Cons.
FYE Mar 2022	27.1	+66.3%	Cons.
FYE Mar 2023	38.8	+43.2%	Cons.
FYE Mar 2024	27.0	−30.5%	Cons.
FYE Mar 2025	27.2	+0.9%	Cons.
FYE Mar 2026	23.2	−14.6%	Cons.

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

Disclaimer

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

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

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