Financials

Blue Zone Holdings: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥813bnYoY +10.4%

FYE Mar 2026 · Operating profit¥36bnYoY +9.0%

FYE Mar 2026 · Net profit¥24bnYoY +17.0%

FYE Mar 2026 · Equity ratio46.6%YoY −1.5pp

FYE Mar 2026 · Group employees5,766YoY +835

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Parent only	¥343bn	n/a	¥15bn	n/a	4.2%	n/a	Kawano Sumito	Yaoko Farm — moving into agricultural production
FYE Mar 2018Consolidated	¥415bn	+21.0%	¥17bn	+16.9%	4.1%	¥11bn	Kawano Sumito	Acquires the discount chain AV for about <span class="en-history_money" data-yen="11500000000" data-year="2017">$102.5M (¥12bn)</span>
FYE Mar 2019Consolidated	¥435bn	+4.8%	¥18bn	+5.5%	4.1%	¥12bn	Kawano Sumito	New support centre — head office — opens in Kawagoe
FYE Mar 2020Consolidated	¥460bn	+5.8%	¥20bn	+11.1%	4.3%	¥12bn	Kawano Sumito	—
FYE Mar 2021Consolidated	¥508bn	+10.3%	¥22bn	+13.0%	4.4%	¥15bn	Kawano Sumito	—
FYE Mar 2022Consolidated	¥536bn	+5.5%	¥24bn	+7.2%	4.5%	¥15bn	Kawano Sumito	Foocot founded; 43% of Sendo acquired
FYE Mar 2023Consolidated	¥564bn	+5.3%	¥26bn	+8.9%	4.6%	¥16bn	Kawano Sumito	—
FYE Mar 2024Consolidated	¥620bn	+9.8%	¥29bn	+11.8%	4.7%	¥18bn	Kawano Sumito	—
FYE Mar 2025Consolidated	¥736bn	+18.9%	¥33bn	+13.9%	4.5%	¥20bn	Kawano Sumito	Sendo consolidated at 66%; ¥1 trillion long-term goal set
FYE Mar 2026Consolidated	¥813bn	+10.4%	¥36bn	+9.0%	4.5%	¥24bn	Kawano Sumito	Blue Zone Holdings established; Bunkado and Cookmart acquired

How it compares

The Seiyu, Ltd.Delisted 2008

Life Corporation¥881bnFY2025Operating margin 3.0%

Barohorudingusu¥854bnFY2024Operating margin 2.7%

Blue Zone Holdings¥813bnFY2025Operating margin 4.5%

Yunaiteddosupamakettohorudingusu¥811bnFY2024Operating margin 0.7%

Akusu¥608bnFY2024Operating margin 2.6%

Kobe Bussan (Gyomu Super)¥552bnFY2025Operating margin 7.2%

Beruku¥388bnFY2024Operating margin 4.4%

Daikokutenbussan¥293bnFY2025Operating margin 3.3%

Akushiaruriteiringu¥282bnFY2024Operating margin 4.3%

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 ¥813bn

CAGR · 10 yrs +10.1%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	343	n/a	Parent · Japanese GAAP
FYE Mar 2018	415	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	435	+4.8%	Cons. · Japanese GAAP
FYE Mar 2020	460	+5.8%	Cons. · Japanese GAAP
FYE Mar 2021	508	+10.3%	Cons. · Japanese GAAP
FYE Mar 2022	536	+5.5%	Cons. · Japanese GAAP
FYE Mar 2023	564	+5.3%	Cons. · Japanese GAAP
FYE Mar 2024	620	+9.8%	Cons. · Japanese GAAP
FYE Mar 2025	736	+18.9%	Cons. · Japanese GAAP
FYE Mar 2026	813	+10.4%	Cons. · Japanese GAAP

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

Cost of sales

FYE Mar 2026 ¥590bn

CAGR · 10 yrs +10.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	236	n/a	Parent · Japanese GAAP
FYE Mar 2018	295	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	310	+4.9%	Cons. · Japanese GAAP
FYE Mar 2020	328	+6.0%	Cons. · Japanese GAAP
FYE Mar 2021	363	+10.7%	Cons. · Japanese GAAP
FYE Mar 2022	384	+5.8%	Cons. · Japanese GAAP
FYE Mar 2023	406	+5.6%	Cons. · Japanese GAAP
FYE Mar 2024	447	+10.1%	Cons. · Japanese GAAP
FYE Mar 2025	534	+19.6%	Cons. · Japanese GAAP
FYE Mar 2026	590	+10.4%	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 ¥223bn

CAGR · 10 yrs +10.4%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	91.4	n/a	Parent · Japanese GAAP
FYE Mar 2018	103	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	108	+4.7%	Cons. · Japanese GAAP
FYE Mar 2020	114	+5.4%	Cons. · Japanese GAAP
FYE Mar 2021	124	+8.7%	Cons. · Japanese GAAP
FYE Mar 2022	130	+4.7%	Cons. · Japanese GAAP
FYE Mar 2023	136	+4.8%	Cons. · Japanese GAAP
FYE Mar 2024	149	+9.2%	Cons. · Japanese GAAP
FYE Mar 2025	174	+17.1%	Cons. · Japanese GAAP
FYE Mar 2026	223	+28.3%	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 Mar 2026 ¥187bn

CAGR · 10 yrs +8.1%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	92.5	n/a	Parent · Japanese GAAP
FYE Mar 2018	103	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	108	+4.4%	Cons. · Japanese GAAP
FYE Mar 2020	112	+4.4%	Cons. · Japanese GAAP
FYE Mar 2021	122	+8.7%	Cons. · Japanese GAAP
FYE Mar 2022	128	+4.6%	Cons. · Japanese GAAP
FYE Mar 2023	132	+3.7%	Cons. · Japanese GAAP
FYE Mar 2024	143	+8.3%	Cons. · Japanese GAAP
FYE Mar 2025	169	+17.6%	Cons. · Japanese GAAP
FYE Mar 2026	187	+10.8%	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 ¥36bn

CAGR · 10 yrs +10.7%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	14.5	n/a	Parent · Japanese GAAP
FYE Mar 2018	17.0	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	17.9	+5.5%	Cons. · Japanese GAAP
FYE Mar 2020	19.9	+11.1%	Cons. · Japanese GAAP
FYE Mar 2021	22.5	+13.0%	Cons. · Japanese GAAP
FYE Mar 2022	24.1	+7.2%	Cons. · Japanese GAAP
FYE Mar 2023	26.2	+8.9%	Cons. · Japanese GAAP
FYE Mar 2024	29.3	+11.8%	Cons. · Japanese GAAP
FYE Mar 2025	33.4	+13.9%	Cons. · Japanese GAAP
FYE Mar 2026	36.4	+9.0%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥424m

CAGR · 10 yrs +7.7%

Fiscal year	Non-operating income ¥ m	YoY	Basis
FYE Mar 2017	218	n/a	Parent · Japanese GAAP
FYE Mar 2018	214	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	217	+1.4%	Cons. · Japanese GAAP
FYE Mar 2020	358	+65.0%	Cons. · Japanese GAAP
FYE Mar 2021	319	−10.9%	Cons. · Japanese GAAP
FYE Mar 2022	279	−12.5%	Cons. · Japanese GAAP
FYE Mar 2023	357	+28.0%	Cons. · Japanese GAAP
FYE Mar 2024	589	+65.0%	Cons. · Japanese GAAP
FYE Mar 2025	242	−58.9%	Cons. · Japanese GAAP
FYE Mar 2026	424	+75.2%	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 ¥1.1bn

CAGR · 10 yrs +8.5%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	0.5	n/a	Parent · Japanese GAAP
FYE Mar 2018	0.7	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	0.6	−4.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.6	−2.7%	Cons. · Japanese GAAP
FYE Mar 2021	0.6	−7.7%	Cons. · Japanese GAAP
FYE Mar 2022	1.1	+89.4%	Cons. · Japanese GAAP
FYE Mar 2023	1.0	−7.0%	Cons. · Japanese GAAP
FYE Mar 2024	1.0	+4.5%	Cons. · Japanese GAAP
FYE Mar 2025	1.1	+2.0%	Cons. · Japanese GAAP
FYE Mar 2026	1.1	+2.5%	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 ¥36bn

CAGR · 10 yrs +10.8%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	14.2	n/a	Parent · Japanese GAAP
FYE Mar 2018	16.5	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	17.5	+5.8%	Cons. · Japanese GAAP
FYE Mar 2020	19.6	+12.2%	Cons. · Japanese GAAP
FYE Mar 2021	22.2	+13.2%	Cons. · Japanese GAAP
FYE Mar 2022	23.3	+4.9%	Cons. · Japanese GAAP
FYE Mar 2023	25.6	+9.9%	Cons. · Japanese GAAP
FYE Mar 2024	28.9	+12.8%	Cons. · Japanese GAAP
FYE Mar 2025	32.6	+12.8%	Cons. · Japanese GAAP
FYE Mar 2026	35.7	+9.6%	Cons. · Japanese GAAP

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

Extraordinary income

FYE Mar 2026 ¥0.8bn

CAGR · 10 yrs −11.1%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	2.2	n/a	Parent · Japanese GAAP
FYE Mar 2018	0.3	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	2.6	+649.7%	Cons. · Japanese GAAP
FYE Mar 2020	0.0	−99.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.2	+804.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.1	−73.9%	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−51.9%	Cons. · Japanese GAAP
FYE Mar 2024	0.0	−88.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.6	+20000.0%	Cons. · Japanese GAAP
FYE Mar 2026	0.8	+29.4%	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 ¥24bn

CAGR · 9 yrs +10.0%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent · Japanese GAAP
FYE Mar 2018	11.0	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	11.8	+7.2%	Cons. · Japanese GAAP
FYE Mar 2020	12.5	+5.6%	Cons. · Japanese GAAP
FYE Mar 2021	14.6	+17.1%	Cons. · Japanese GAAP
FYE Mar 2022	15.4	+5.4%	Cons. · Japanese GAAP
FYE Mar 2023	15.8	+3.0%	Cons. · Japanese GAAP
FYE Mar 2024	18.2	+15.1%	Cons. · Japanese GAAP
FYE Mar 2025	20.2	+10.6%	Cons. · Japanese GAAP
FYE Mar 2026	23.6	+17.0%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 27.5%

Average · 10 yrs 24.9%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	26.6	n/a	Parent · Japanese GAAP
FYE Mar 2018	24.9	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	24.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	24.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	24.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	24.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	24.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	24.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	23.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	27.5	+3.8pp	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 4.5%

Average · 10 yrs 4.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	4.2	n/a	Parent · Japanese GAAP
FYE Mar 2018	4.1	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	4.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	4.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	4.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	4.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	4.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	4.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	4.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	4.5	−0.1pp	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 4.4%

Average · 10 yrs 4.3%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	4.1	n/a	Parent · Japanese GAAP
FYE Mar 2018	4.0	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	4.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	4.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	4.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	4.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2023	4.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	4.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	4.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	4.4	−0.0pp	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 Mar 2026 2.9%

Average · 9 yrs 2.8%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent · Japanese GAAP
FYE Mar 2018	2.7	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	2.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	2.7	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	2.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	2.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2023	2.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	2.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	2.7	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	2.9	+0.2pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 72.5%

Average · 10 yrs 71.5%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	68.8	n/a	Parent · Japanese GAAP
FYE Mar 2018	71.1	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	71.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	71.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	71.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	71.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	71.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	72.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	72.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	72.5	−0.0pp	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 23.0%

Average · 10 yrs 24.1%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	27.0	n/a	Parent · Japanese GAAP
FYE Mar 2018	24.8	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	24.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	24.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	24.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	23.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	23.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	23.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	22.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	23.0	+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 ¥428bn

CAGR · 9 yrs +9.1%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	214	n/a	Cons. · Japanese GAAP
FYE Mar 2019	224	+5.0%	Cons. · Japanese GAAP
FYE Mar 2020	245	+9.0%	Cons. · Japanese GAAP
FYE Mar 2021	269	+10.1%	Cons. · Japanese GAAP
FYE Mar 2022	306	+13.7%	Cons. · Japanese GAAP
FYE Mar 2023	318	+4.0%	Cons. · Japanese GAAP
FYE Mar 2024	342	+7.6%	Cons. · Japanese GAAP
FYE Mar 2025	376	+9.9%	Cons. · Japanese GAAP
FYE Mar 2026	428	+13.7%	Cons. · Japanese GAAP

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

Equity net assets, shareholders' equity

FYE Mar 2026 ¥200bn

CAGR · 10 yrs +11.5%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	75.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	84.6	+12.8%	Cons. · Japanese GAAP
FYE Mar 2019	94.1	+11.1%	Cons. · Japanese GAAP
FYE Mar 2020	104	+10.6%	Cons. · Japanese GAAP
FYE Mar 2021	117	+12.1%	Cons. · Japanese GAAP
FYE Mar 2022	129	+10.5%	Cons. · Japanese GAAP
FYE Mar 2023	142	+9.9%	Cons. · Japanese GAAP
FYE Mar 2024	168	+18.6%	Cons. · Japanese GAAP
FYE Mar 2025	181	+7.9%	Cons. · Japanese GAAP
FYE Mar 2026	200	+10.2%	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 ¥85bn

CAGR · 9 yrs +3.4%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	65.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	62.1	−5.0%	Cons. · Japanese GAAP
FYE Mar 2020	51.1	−17.8%	Cons. · Japanese GAAP
FYE Mar 2021	58.1	+13.8%	Cons. · Japanese GAAP
FYE Mar 2022	77.4	+33.3%	Cons. · Japanese GAAP
FYE Mar 2023	72.8	−6.0%	Cons. · Japanese GAAP
FYE Mar 2024	68.5	−5.9%	Cons. · Japanese GAAP
FYE Mar 2025	70.4	+2.7%	Cons. · Japanese GAAP
FYE Mar 2026	85.2	+21.1%	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 ¥24bn

CAGR · 9 yrs +13.1%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	11.6	+31.7%	Cons. · Japanese GAAP
FYE Mar 2020	9.0	−22.4%	Cons. · Japanese GAAP
FYE Mar 2021	12.6	+40.8%	Cons. · Japanese GAAP
FYE Mar 2022	4.7	−63.0%	Cons. · Japanese GAAP
FYE Mar 2023	4.3	−8.2%	Cons. · Japanese GAAP
FYE Mar 2024	3.9	−8.5%	Cons. · Japanese GAAP
FYE Mar 2025	0.9	−77.1%	Cons. · Japanese GAAP
FYE Mar 2026	23.6	+2520.0%	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 Mar 2026 ¥62bn

CAGR · 9 yrs +1.1%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	56.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	50.5	−10.7%	Cons. · Japanese GAAP
FYE Mar 2020	42.1	−16.7%	Cons. · Japanese GAAP
FYE Mar 2021	45.4	+8.0%	Cons. · Japanese GAAP
FYE Mar 2022	72.8	+60.1%	Cons. · Japanese GAAP
FYE Mar 2023	68.5	−5.9%	Cons. · Japanese GAAP
FYE Mar 2024	64.6	−5.7%	Cons. · Japanese GAAP
FYE Mar 2025	69.5	+7.6%	Cons. · Japanese GAAP
FYE Mar 2026	61.6	−11.2%	Cons. · Japanese GAAP

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

Intangible assets

FYE Mar 2026 ¥14bn

CAGR · 9 yrs +2.8%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	11.2	+2.1%	Cons. · Japanese GAAP
FYE Mar 2020	9.9	−12.1%	Cons. · Japanese GAAP
FYE Mar 2021	8.0	−18.5%	Cons. · Japanese GAAP
FYE Mar 2022	6.5	−18.9%	Cons. · Japanese GAAP
FYE Mar 2023	6.2	−5.0%	Cons. · Japanese GAAP
FYE Mar 2024	5.6	−8.7%	Cons. · Japanese GAAP
FYE Mar 2025	6.1	+8.0%	Cons. · Japanese GAAP
FYE Mar 2026	13.7	+124.2%	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 ¥6.1bn

CAGR · 5 yrs +10.8%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	3.0	−25.0%	Cons. · Japanese GAAP
FYE Mar 2020	2.0	−33.3%	Cons. · Japanese GAAP
FYE Mar 2021	1.0	−50.0%	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	6.1	n/a	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 46.6%

Average · 9 yrs 44.2%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	41.9	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2020	42.5	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	43.3	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	42.1	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	44.5	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2024	49.0	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2025	48.1	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	46.6	−1.5pp	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 42.7%

Average · 9 yrs 52.9%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	77.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	66.0	−11.2pp	Cons. · Japanese GAAP
FYE Mar 2020	49.1	−16.9pp	Cons. · Japanese GAAP
FYE Mar 2021	49.8	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	60.1	+10.3pp	Cons. · Japanese GAAP
FYE Mar 2023	51.4	−8.7pp	Cons. · Japanese GAAP
FYE Mar 2024	40.8	−10.6pp	Cons. · Japanese GAAP
FYE Mar 2025	38.8	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	42.7	+3.9pp	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 11.8%

Average · 9 yrs 11.9%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent · Japanese GAAP
FYE Mar 2018	13.0	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	12.5	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	12.0	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	12.5	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	11.9	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	11.2	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	10.9	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	11.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	11.8	+0.7pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 5.5%

Average · 9 yrs 5.2%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent · Japanese GAAP
FYE Mar 2018	5.2	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	5.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	5.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	5.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	5.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	5.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	5.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	5.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	5.5	+0.2pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 1.90×

CAGR · 9 yrs −0.3%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent · Japanese GAAP
FYE Mar 2018	1.94	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	1.94	−0.2%	Cons. · Japanese GAAP
FYE Mar 2020	1.88	−2.9%	Cons. · Japanese GAAP
FYE Mar 2021	1.89	+0.2%	Cons. · Japanese GAAP
FYE Mar 2022	1.75	−7.2%	Cons. · Japanese GAAP
FYE Mar 2023	1.77	+1.3%	Cons. · Japanese GAAP
FYE Mar 2024	1.81	+2.0%	Cons. · Japanese GAAP
FYE Mar 2025	1.96	+8.2%	Cons. · Japanese GAAP
FYE Mar 2026	1.90	−2.9%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥47bn

CAGR · 10 yrs +12.9%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	15.8	n/a	Parent · Japanese GAAP
FYE Mar 2018	18.6	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	23.0	+23.4%	Cons. · Japanese GAAP
FYE Mar 2020	29.2	+27.2%	Cons. · Japanese GAAP
FYE Mar 2021	26.9	−7.9%	Cons. · Japanese GAAP
FYE Mar 2022	30.5	+13.5%	Cons. · Japanese GAAP
FYE Mar 2023	33.3	+9.0%	Cons. · Japanese GAAP
FYE Mar 2024	37.2	+11.7%	Cons. · Japanese GAAP
FYE Mar 2025	43.2	+16.2%	Cons. · Japanese GAAP
FYE Mar 2026	47.1	+9.0%	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 -¥46bn

Average · 10 yrs -¥28bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-23.3	n/a	Parent · Japanese GAAP
FYE Mar 2018	-30.8	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	-16.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-22.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-23.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-46.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-26.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-37.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-46.4	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 ¥3.6bn

CAGR · 10 yrs −19.3%

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	25.1	n/a	Parent · Japanese GAAP
FYE Mar 2018	4.7	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	-5.7	−220.7%	Cons. · Japanese GAAP
FYE Mar 2020	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	4.2	+195.6%	Cons. · Japanese GAAP
FYE Mar 2022	15.6	+271.5%	Cons. · Japanese GAAP
FYE Mar 2023	-8.3	−153.0%	Cons. · Japanese GAAP
FYE Mar 2024	-8.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	3.6	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 ¥53bn

CAGR · 10 yrs +10.0%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	22.3	n/a	Parent · Japanese GAAP
FYE Mar 2018	14.9	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	15.7	+5.5%	Cons. · Japanese GAAP
FYE Mar 2020	24.3	+55.1%	Cons. · Japanese GAAP
FYE Mar 2021	32.1	+31.8%	Cons. · Japanese GAAP
FYE Mar 2022	31.3	−2.5%	Cons. · Japanese GAAP
FYE Mar 2023	45.8	+46.4%	Cons. · Japanese GAAP
FYE Mar 2024	48.1	+5.0%	Cons. · Japanese GAAP
FYE Mar 2025	48.5	+0.9%	Cons. · Japanese GAAP
FYE Mar 2026	52.8	+8.9%	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 ¥0.7bn

Average · 10 yrs ¥2.1bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-7.5	n/a	Parent · Japanese GAAP
FYE Mar 2018	-12.2	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	6.5	n/a	Cons. · Japanese GAAP
FYE Mar 2020	7.2	+10.5%	Cons. · Japanese GAAP
FYE Mar 2021	3.6	−50.9%	Cons. · Japanese GAAP
FYE Mar 2022	-16.4	−561.4%	Cons. · Japanese GAAP
FYE Mar 2023	22.8	n/a	Cons. · Japanese GAAP
FYE Mar 2024	10.4	−54.4%	Cons. · Japanese GAAP
FYE Mar 2025	6.2	−40.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.7	−89.1%	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 5.8%

Average · 10 yrs 5.5%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	4.6	n/a	Parent · Japanese GAAP
FYE Mar 2018	4.5	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	5.3	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	6.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	5.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	5.7	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	5.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	6.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	5.9	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	5.8	−0.1pp	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 -¥32bn

Average · 9 yrs -¥33bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent · Japanese GAAP
FYE Mar 2018	-50.5	moved to consolidated	Cons. · Japanese GAAP
FYE Mar 2019	-46.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-26.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-26.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-46.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-27.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-20.4	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-21.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-32.4	n/a	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Mar 2026 ¥398bn

Change · 9 yrs +¥169bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	n/a	n/a
FYE Mar 2018	229	n/a
FYE Mar 2019	218	n/a
FYE Mar 2020	267	n/a
FYE Mar 2021	272	n/a
FYE Mar 2022	266	n/a
FYE Mar 2023	276	n/a
FYE Mar 2024	383	n/a
FYE Mar 2025	384	n/a
FYE Mar 2026	398	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 9,505¥

Change · 9 yrs +3,780¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	n/a	n/a
FYE Mar 2018	5,725	n/a
FYE Mar 2019	5,439	n/a
FYE Mar 2020	6,674	n/a
FYE Mar 2021	6,802	n/a
FYE Mar 2022	6,654	n/a
FYE Mar 2023	6,895	n/a
FYE Mar 2024	9,149	n/a
FYE Mar 2025	9,175	n/a
FYE Mar 2026	9,505	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 41,894,177shares

Change · 10 yrs +1,880,455 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	40,013,722	Parent
FYE Mar 2018	40,013,722	Parent
FYE Mar 2019	40,013,722	Parent
FYE Mar 2020	40,013,722	Parent
FYE Mar 2021	40,013,722	Parent
FYE Mar 2022	40,013,722	Parent
FYE Mar 2023	40,013,722	Parent
FYE Mar 2024	41,894,288	Parent
FYE Mar 2025	41,894,288	Parent
FYE Mar 2026	41,894,177	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 115.91¥

Change · 9 yrs −167.50¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	283.41	Cons.
FYE Mar 2019	303.86	Cons.
FYE Mar 2020	320.85	Cons.
FYE Mar 2021	375.81	Cons.
FYE Mar 2022	396.08	Cons.
FYE Mar 2023	407.99	Cons.
FYE Mar 2024	464.43	Cons.
FYE Mar 2025	493.30	Cons.
FYE Mar 2026	115.91	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 4,763.53¥

Change · 10 yrs +2,888.77¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,874.76	Cons. · Japanese GAAP
FYE Mar 2018	2,115.25	Cons. · Japanese GAAP
FYE Mar 2019	2,350.57	Cons. · Japanese GAAP
FYE Mar 2020	2,600.03	Cons. · Japanese GAAP
FYE Mar 2021	2,914.63	Cons. · Japanese GAAP
FYE Mar 2022	3,219.60	Cons. · Japanese GAAP
FYE Mar 2023	3,539.11	Cons. · Japanese GAAP
FYE Mar 2024	4,007.75	Cons. · Japanese GAAP
FYE Mar 2025	4,322.88	Cons. · Japanese GAAP
FYE Mar 2026	4,763.53	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 16.40×

Average · 9 yrs 18.38×

Fiscal year	PER ×	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	20.20	Cons.
FYE Mar 2019	17.90	Cons.
FYE Mar 2020	20.80	Cons.
FYE Mar 2021	18.10	Cons.
FYE Mar 2022	16.80	Cons.
FYE Mar 2023	16.90	Cons.
FYE Mar 2024	19.70	Cons.
FYE Mar 2025	18.60	Cons.
FYE Mar 2026	16.40	Cons.

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

PBR price-to-book ratio

FYE Mar 2026 1.94×

Average · 9 yrs 2.20×

Fiscal year	PBR ×	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	2.63	Cons.
FYE Mar 2019	2.25	Cons.
FYE Mar 2020	2.49	Cons.
FYE Mar 2021	2.27	Cons.
FYE Mar 2022	2.01	Cons.
FYE Mar 2023	1.89	Cons.
FYE Mar 2024	2.22	Cons.
FYE Mar 2025	2.06	Cons.
FYE Mar 2026	1.94	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 5,766people

Change · 9 yrs +2,479 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons.
FYE Mar 2018	3,287	n/a	Cons.
FYE Mar 2019	3,453	+5.1%	Cons.
FYE Mar 2020	3,613	+4.6%	Cons.
FYE Mar 2021	3,804	+5.3%	Cons.
FYE Mar 2022	4,022	+5.7%	Cons.
FYE Mar 2023	4,174	+3.8%	Cons.
FYE Mar 2024	4,347	+4.1%	Cons.
FYE Mar 2025	4,931	+13.4%	Cons.
FYE Mar 2026	5,766	+16.9%	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 Mar 2026 4people

Change · 10 yrs −2,916 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	2,920	n/a	Parent
FYE Mar 2018	3,133	+7.3%	Parent
FYE Mar 2019	3,301	+5.4%	Parent
FYE Mar 2020	3,445	+4.4%	Parent
FYE Mar 2021	3,637	+5.6%	Parent
FYE Mar 2022	3,820	+5.0%	Parent
FYE Mar 2023	3,956	+3.6%	Parent
FYE Mar 2024	4,114	+4.0%	Parent
FYE Mar 2025	4,332	+5.3%	Parent
FYE Mar 2026	4	−99.9%	Parent

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

Average annual pay parent company

FYE Mar 2026 806万円

Change · 8 yrs +220万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	586	n/a	Parent
FYE Mar 2020	583	−0.5%	Parent
FYE Mar 2021	602	+3.2%	Parent
FYE Mar 2022	604	+0.3%	Parent
FYE Mar 2023	596	−1.3%	Parent
FYE Mar 2024	618	+3.7%	Parent
FYE Mar 2025	636	+3.0%	Parent
FYE Mar 2026	806	+26.7%	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 35.4years

Change · 8 yrs −3.2 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	38.6	n/a	Parent
FYE Mar 2020	38.8	+0.5%	Parent
FYE Mar 2021	39.4	+1.5%	Parent
FYE Mar 2022	39.3	−0.3%	Parent
FYE Mar 2023	39.4	+0.3%	Parent
FYE Mar 2024	39.6	+0.5%	Parent
FYE Mar 2025	40.0	+1.0%	Parent
FYE Mar 2026	35.4	−11.5%	Parent

Definition: Average age of the parent company's employees
Formula: Average age, from the employee section of the filing
Source: Securities report (XBRL)

Average length of service

FYE Mar 2026 7.3years

Change · 8 yrs −3.2 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	10.5	n/a	Parent
FYE Mar 2020	10.7	+1.9%	Parent
FYE Mar 2021	10.9	+1.9%	Parent
FYE Mar 2022	11.0	+0.9%	Parent
FYE Mar 2023	11.3	+2.7%	Parent
FYE Mar 2024	11.5	+1.8%	Parent
FYE Mar 2025	11.5	−0.0%	Parent
FYE Mar 2026	7.3	−36.5%	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 18,399people

Change · 9 yrs +7,308 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	n/a	n/a	n/a
FYE Mar 2018	11,091	n/a	n/a
FYE Mar 2019	11,319	+2.1%	n/a
FYE Mar 2020	11,628	+2.7%	n/a
FYE Mar 2021	12,251	+5.4%	n/a
FYE Mar 2022	12,922	+5.5%	n/a
FYE Mar 2023	13,118	+1.5%	n/a
FYE Mar 2024	13,400	+2.1%	n/a
FYE Mar 2025	15,921	+18.8%	n/a
FYE Mar 2026	18,399	+15.6%	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 ¥141m

Change · 9 yrs +¥14.8m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	126	moved to consolidated	Cons.
FYE Mar 2019	126	−0.2%	Cons.
FYE Mar 2020	127	+1.1%	Cons.
FYE Mar 2021	134	+4.8%	Cons.
FYE Mar 2022	133	−0.2%	Cons.
FYE Mar 2023	135	+1.5%	Cons.
FYE Mar 2024	143	+5.4%	Cons.
FYE Mar 2025	149	+4.8%	Cons.
FYE Mar 2026	141	−5.6%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥6.3m

Change · 9 yrs +¥1.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	5.2	moved to consolidated	Cons.
FYE Mar 2019	5.2	+0.4%	Cons.
FYE Mar 2020	5.5	+6.2%	Cons.
FYE Mar 2021	5.9	+7.3%	Cons.
FYE Mar 2022	6.0	+1.4%	Cons.
FYE Mar 2023	6.3	+5.0%	Cons.
FYE Mar 2024	6.7	+7.3%	Cons.
FYE Mar 2025	6.8	+0.4%	Cons.
FYE Mar 2026	6.3	−6.8%	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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