Financials

Mitsubishi Gas Chemical: FYE Mar 2026 and ten years of results (49 metrics)

FYE Mar 2026 · Revenue¥738bnYoY −4.6%

FYE Mar 2026 · Operating profit¥45bnYoY −10.9%

FYE Mar 2026 · Net profit-¥40bnYoY −188.5%

FYE Mar 2026 · Equity ratio58.1%YoY −1.6pp

FYE Mar 2026 · Group employees8,319YoY +173

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥556bn	n/a	¥44bn	n/a	7.9%	¥48bn	Kurai Toshima	—
FYE Mar 2018Consolidated	¥636bn	+14.3%	¥63bn	+43.4%	9.9%	¥61bn	Kurai Toshima	—
FYE Mar 2019Consolidated	¥649bn	+2.1%	¥41bn	−34.0%	6.4%	¥55bn	Kurai Toshima	Aromatics business divested; China subsidiary established
FYE Mar 2020Consolidated	¥613bn	−5.5%	¥34bn	−17.2%	5.6%	¥21bn	Kurai Toshima	—
FYE Mar 2021Consolidated	¥596bn	−2.9%	¥45bn	+29.9%	7.5%	¥36bn	Fujii Masashi	—
FYE Mar 2022Consolidated	¥706bn	+18.5%	¥55bn	+24.4%	7.8%	¥48bn	Fujii Masashi	—
FYE Mar 2023Consolidated	¥781bn	+10.7%	¥49bn	−11.4%	6.3%	¥49bn	Fujii Masashi	Operating profit reaches the ¥50bn level
FYE Mar 2024Consolidated	¥813bn	+4.1%	¥47bn	−3.5%	5.8%	¥39bn	Fujii Masashi	—
FYE Mar 2025Consolidated	¥774bn	−4.9%	¥51bn	+7.4%	6.6%	¥46bn	Fujii Masashi	<a class="en-history_person" href="/tse/4182/executives/ceo/isahaya-sadanori/" hreflang="ja">Isahaya Sadanori</a> becomes president and CEO
FYE Mar 2026Consolidated	¥738bn	−4.6%	¥45bn	−10.9%	6.1%	-¥40bn	Fujii Masashi	—

How it compares

Fujifilm Holdings¥3.36tnFY2025Operating margin 10.4%Nitto Denko¥1.03tnFY2025Operating margin 17.9%

Mitsubishi Gas Chemical¥738bnFY2025Operating margin 6.1%

Hitachi ChemicalDelisted 2020

Adeka¥417bnFY2025Operating margin 10.0%

ZEON CORPORATION¥412bnFY2025Operating margin 8.8%

Nippon Shokubai¥400bnFY2025Operating margin 4.4%

LINTEC¥319bnFY2025Operating margin 7.9%

Nissan Chemical¥280bnFY2025Operating margin 22.7%NOF Corporation¥258bnFY2025Operating margin 18.4%

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 ¥738bn

CAGR · 10 yrs +3.2%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	556	n/a	Cons. · Japanese GAAP
FYE Mar 2018	636	+14.3%	Cons. · Japanese GAAP
FYE Mar 2019	649	+2.1%	Cons. · Japanese GAAP
FYE Mar 2020	613	−5.5%	Cons. · Japanese GAAP
FYE Mar 2021	596	−2.9%	Cons. · Japanese GAAP
FYE Mar 2022	706	+18.5%	Cons. · Japanese GAAP
FYE Mar 2023	781	+10.7%	Cons. · Japanese GAAP
FYE Mar 2024	813	+4.1%	Cons. · Japanese GAAP
FYE Mar 2025	774	−4.9%	Cons. · Japanese GAAP
FYE Mar 2026	738	−4.6%	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 ¥577bn

CAGR · 10 yrs +3.4%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	425	n/a	Cons. · Japanese GAAP
FYE Mar 2018	481	+13.2%	Cons. · Japanese GAAP
FYE Mar 2019	513	+6.6%	Cons. · Japanese GAAP
FYE Mar 2020	482	−6.0%	Cons. · Japanese GAAP
FYE Mar 2021	455	−5.6%	Cons. · Japanese GAAP
FYE Mar 2022	543	+19.4%	Cons. · Japanese GAAP
FYE Mar 2023	613	+12.9%	Cons. · Japanese GAAP
FYE Mar 2024	640	+4.4%	Cons. · Japanese GAAP
FYE Mar 2025	609	−4.8%	Cons. · Japanese GAAP
FYE Mar 2026	577	−5.3%	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 ¥161bn

CAGR · 10 yrs +2.3%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	131	n/a	Cons. · Japanese GAAP
FYE Mar 2018	155	+17.8%	Cons. · Japanese GAAP
FYE Mar 2019	136	−11.9%	Cons. · Japanese GAAP
FYE Mar 2020	131	−3.5%	Cons. · Japanese GAAP
FYE Mar 2021	141	+7.3%	Cons. · Japanese GAAP
FYE Mar 2022	163	+15.3%	Cons. · Japanese GAAP
FYE Mar 2023	168	+3.4%	Cons. · Japanese GAAP
FYE Mar 2024	173	+3.0%	Cons. · Japanese GAAP
FYE Mar 2025	164	−5.1%	Cons. · Japanese GAAP
FYE Mar 2026	161	−1.8%	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 ¥116bn

CAGR · 10 yrs +3.2%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	87.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	91.8	+5.0%	Cons. · Japanese GAAP
FYE Mar 2019	94.7	+3.2%	Cons. · Japanese GAAP
FYE Mar 2020	97.1	+2.5%	Cons. · Japanese GAAP
FYE Mar 2021	96.4	−0.7%	Cons. · Japanese GAAP
FYE Mar 2022	107	+11.2%	Cons. · Japanese GAAP
FYE Mar 2023	119	+11.1%	Cons. · Japanese GAAP
FYE Mar 2024	126	+5.6%	Cons. · Japanese GAAP
FYE Mar 2025	113	−9.9%	Cons. · Japanese GAAP
FYE Mar 2026	116	+2.3%	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 ¥45bn

CAGR · 10 yrs +0.4%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	43.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	62.7	+43.4%	Cons. · Japanese GAAP
FYE Mar 2019	41.4	−34.0%	Cons. · Japanese GAAP
FYE Mar 2020	34.3	−17.2%	Cons. · Japanese GAAP
FYE Mar 2021	44.5	+29.9%	Cons. · Japanese GAAP
FYE Mar 2022	55.4	+24.4%	Cons. · Japanese GAAP
FYE Mar 2023	49.0	−11.4%	Cons. · Japanese GAAP
FYE Mar 2024	47.3	−3.5%	Cons. · Japanese GAAP
FYE Mar 2025	50.9	+7.4%	Cons. · Japanese GAAP
FYE Mar 2026	45.3	−10.9%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥14bn

CAGR · 10 yrs −6.6%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	25.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.4	−5.8%	Cons. · Japanese GAAP
FYE Mar 2019	34.7	+42.2%	Cons. · Japanese GAAP
FYE Mar 2020	5.7	−83.5%	Cons. · Japanese GAAP
FYE Mar 2021	12.2	+113.2%	Cons. · Japanese GAAP
FYE Mar 2022	24.4	+99.9%	Cons. · Japanese GAAP
FYE Mar 2023	27.2	+11.3%	Cons. · Japanese GAAP
FYE Mar 2024	11.4	−58.0%	Cons. · Japanese GAAP
FYE Mar 2025	17.9	+57.0%	Cons. · Japanese GAAP
FYE Mar 2026	14.0	−22.0%	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 ¥7.3bn

CAGR · 10 yrs +0.1%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	7.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.4	−11.1%	Cons. · Japanese GAAP
FYE Mar 2019	6.9	+6.9%	Cons. · Japanese GAAP
FYE Mar 2020	8.9	+29.0%	Cons. · Japanese GAAP
FYE Mar 2021	6.5	−26.9%	Cons. · Japanese GAAP
FYE Mar 2022	5.6	−13.1%	Cons. · Japanese GAAP
FYE Mar 2023	6.5	+14.6%	Cons. · Japanese GAAP
FYE Mar 2024	12.7	+96.5%	Cons. · Japanese GAAP
FYE Mar 2025	8.5	−33.5%	Cons. · Japanese GAAP
FYE Mar 2026	7.3	−13.4%	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 ¥52bn

CAGR · 10 yrs −2.0%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	62.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	80.7	+29.3%	Cons. · Japanese GAAP
FYE Mar 2019	69.2	−14.3%	Cons. · Japanese GAAP
FYE Mar 2020	31.1	−55.0%	Cons. · Japanese GAAP
FYE Mar 2021	50.2	+61.5%	Cons. · Japanese GAAP
FYE Mar 2022	74.2	+47.6%	Cons. · Japanese GAAP
FYE Mar 2023	69.8	−5.9%	Cons. · Japanese GAAP
FYE Mar 2024	46.0	−34.0%	Cons. · Japanese GAAP
FYE Mar 2025	60.3	+31.0%	Cons. · Japanese GAAP
FYE Mar 2026	51.9	−13.9%	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 ¥15bn

CAGR · 10 yrs +21.5%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.9	+12.7%	Cons. · Japanese GAAP
FYE Mar 2019	2.5	−14.3%	Cons. · Japanese GAAP
FYE Mar 2020	13.4	+443.4%	Cons. · Japanese GAAP
FYE Mar 2021	2.3	−82.6%	Cons. · Japanese GAAP
FYE Mar 2022	6.4	+174.8%	Cons. · Japanese GAAP
FYE Mar 2023	4.9	−24.1%	Cons. · Japanese GAAP
FYE Mar 2024	20.6	+321.8%	Cons. · Japanese GAAP
FYE Mar 2025	3.1	−85.1%	Cons. · Japanese GAAP
FYE Mar 2026	14.7	+380.2%	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Mar 2026 -¥40bn

Average · 10 yrs ¥36bn

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	48.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	60.5	+26.1%	Cons. · Japanese GAAP
FYE Mar 2019	55.0	−9.1%	Cons. · Japanese GAAP
FYE Mar 2020	21.2	−61.5%	Cons. · Japanese GAAP
FYE Mar 2021	36.1	+70.5%	Cons. · Japanese GAAP
FYE Mar 2022	48.3	+33.9%	Cons. · Japanese GAAP
FYE Mar 2023	49.1	+1.6%	Cons. · Japanese GAAP
FYE Mar 2024	38.8	−20.9%	Cons. · Japanese GAAP
FYE Mar 2025	45.5	+17.3%	Cons. · Japanese GAAP
FYE Mar 2026	-40.3	−188.5%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 21.9%

Average · 10 yrs 22.3%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	23.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.3	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	21.0	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2020	21.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	23.7	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2022	23.0	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	21.5	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	21.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	21.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	21.9	+0.6pp	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 6.1%

Average · 10 yrs 7.0%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.9	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2019	6.4	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2020	5.6	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	7.5	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	7.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	6.3	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2024	5.8	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	6.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	6.1	−0.4pp	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 7.0%

Average · 10 yrs 8.8%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	11.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.7	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	10.7	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2020	5.1	−5.6pp	Cons. · Japanese GAAP
FYE Mar 2021	8.4	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2022	10.5	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2023	8.9	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2024	5.7	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2025	7.8	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2026	7.0	−0.8pp	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 -5.5%

Average · 10 yrs 5.4%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	8.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.5	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	8.5	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	3.4	−5.0pp	Cons. · Japanese GAAP
FYE Mar 2021	6.1	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	6.8	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	6.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	4.8	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	5.9	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	-5.5	−11.3pp	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 78.1%

Average · 10 yrs 77.7%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	76.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	75.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	79.0	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2020	78.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	76.3	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2022	77.0	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	78.5	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	78.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	78.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	78.1	−0.6pp	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 15.7%

Average · 10 yrs 15.3%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	15.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.4	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	14.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	15.8	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	16.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	15.2	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	15.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	15.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	14.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	15.7	+1.1pp	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 ¥1.11tn

CAGR · 10 yrs +4.7%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	738	n/a	Cons. · Japanese GAAP
FYE Mar 2018	786	+6.4%	Cons. · Japanese GAAP
FYE Mar 2019	804	+2.3%	Cons. · Japanese GAAP
FYE Mar 2020	772	−4.0%	Cons. · Japanese GAAP
FYE Mar 2021	836	+8.4%	Cons. · Japanese GAAP
FYE Mar 2022	929	+11.0%	Cons. · Japanese GAAP
FYE Mar 2023	1,029	+10.8%	Cons. · Japanese GAAP
FYE Mar 2024	1,068	+3.8%	Cons. · Japanese GAAP
FYE Mar 2025	1,120	+4.8%	Cons. · Japanese GAAP
FYE Mar 2026	1,113	−0.6%	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 ¥646bn

CAGR · 10 yrs +4.8%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	425	n/a	Cons. · Japanese GAAP
FYE Mar 2018	467	+10.0%	Cons. · Japanese GAAP
FYE Mar 2019	503	+7.6%	Cons. · Japanese GAAP
FYE Mar 2020	493	−2.1%	Cons. · Japanese GAAP
FYE Mar 2021	524	+6.4%	Cons. · Japanese GAAP
FYE Mar 2022	569	+8.5%	Cons. · Japanese GAAP
FYE Mar 2023	608	+6.8%	Cons. · Japanese GAAP
FYE Mar 2024	658	+8.3%	Cons. · Japanese GAAP
FYE Mar 2025	668	+1.6%	Cons. · Japanese GAAP
FYE Mar 2026	646	−3.3%	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 ¥167bn

CAGR · 10 yrs +4.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	108	n/a	Cons. · Japanese GAAP
FYE Mar 2018	96.5	−10.8%	Cons. · Japanese GAAP
FYE Mar 2019	85.4	−11.5%	Cons. · Japanese GAAP
FYE Mar 2020	63.0	−26.2%	Cons. · Japanese GAAP
FYE Mar 2021	76.3	+21.0%	Cons. · Japanese GAAP
FYE Mar 2022	85.5	+12.1%	Cons. · Japanese GAAP
FYE Mar 2023	123	+43.3%	Cons. · Japanese GAAP
FYE Mar 2024	121	−0.9%	Cons. · Japanese GAAP
FYE Mar 2025	155	+27.6%	Cons. · Japanese GAAP
FYE Mar 2026	167	+7.5%	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 ¥64bn

CAGR · 10 yrs −1.7%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	74.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	71.2	−4.7%	Cons. · Japanese GAAP
FYE Mar 2019	58.7	−17.4%	Cons. · Japanese GAAP
FYE Mar 2020	34.0	−42.2%	Cons. · Japanese GAAP
FYE Mar 2021	40.1	+18.0%	Cons. · Japanese GAAP
FYE Mar 2022	38.9	−2.9%	Cons. · Japanese GAAP
FYE Mar 2023	47.9	+23.1%	Cons. · Japanese GAAP
FYE Mar 2024	51.8	+8.2%	Cons. · Japanese GAAP
FYE Mar 2025	75.6	+45.9%	Cons. · Japanese GAAP
FYE Mar 2026	64.2	−15.0%	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 ¥102bn

CAGR · 10 yrs +13.2%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	33.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.3	−24.4%	Cons. · Japanese GAAP
FYE Mar 2019	26.6	+5.1%	Cons. · Japanese GAAP
FYE Mar 2020	29.0	+9.1%	Cons. · Japanese GAAP
FYE Mar 2021	36.2	+24.6%	Cons. · Japanese GAAP
FYE Mar 2022	46.6	+28.8%	Cons. · Japanese GAAP
FYE Mar 2023	74.7	+60.2%	Cons. · Japanese GAAP
FYE Mar 2024	69.7	−6.7%	Cons. · Japanese GAAP
FYE Mar 2025	79.4	+14.0%	Cons. · Japanese GAAP
FYE Mar 2026	102	+28.9%	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 ¥24bn

CAGR · 10 yrs +12.2%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.4	+0.5%	Cons. · Japanese GAAP
FYE Mar 2019	8.6	+2.4%	Cons. · Japanese GAAP
FYE Mar 2020	10.6	+23.0%	Cons. · Japanese GAAP
FYE Mar 2021	10.5	−0.9%	Cons. · Japanese GAAP
FYE Mar 2022	11.3	+7.5%	Cons. · Japanese GAAP
FYE Mar 2023	12.0	+6.1%	Cons. · Japanese GAAP
FYE Mar 2024	24.9	+107.6%	Cons. · Japanese GAAP
FYE Mar 2025	25.0	+0.5%	Cons. · Japanese GAAP
FYE Mar 2026	23.5	−5.8%	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 ¥14bn

CAGR · 10 yrs +13.9%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	4.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.9	−8.1%	Cons. · Japanese GAAP
FYE Mar 2019	3.8	−1.8%	Cons. · Japanese GAAP
FYE Mar 2020	5.3	+37.8%	Cons. · Japanese GAAP
FYE Mar 2021	4.9	−7.2%	Cons. · Japanese GAAP
FYE Mar 2022	4.8	−2.1%	Cons. · Japanese GAAP
FYE Mar 2023	4.4	−8.0%	Cons. · Japanese GAAP
FYE Mar 2024	16.9	+281.2%	Cons. · Japanese GAAP
FYE Mar 2025	15.3	−9.2%	Cons. · Japanese GAAP
FYE Mar 2026	13.8	−10.2%	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 58.1%

Average · 10 yrs 60.6%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	57.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	59.5	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2019	62.6	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2020	63.8	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	62.7	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2022	61.2	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	59.0	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	61.6	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2025	59.7	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	58.1	−1.6pp	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 25.8%

Average · 10 yrs 19.3%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	25.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.6	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2019	17.0	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2020	12.8	−4.2pp	Cons. · Japanese GAAP
FYE Mar 2021	14.6	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	15.0	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	20.2	+5.1pp	Cons. · Japanese GAAP
FYE Mar 2024	18.5	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	23.2	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2026	25.8	+2.6pp	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 Mar 2026 -6.2%

Average · 10 yrs 6.9%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	11.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.0	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	10.9	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2020	4.3	−6.6pp	Cons. · Japanese GAAP
FYE Mar 2021	6.9	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	8.5	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2023	8.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	5.9	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2025	6.8	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	-6.2	−13.1pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 -3.6%

Average · 10 yrs 4.2%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	6.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.7	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	6.8	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	2.7	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2021	4.3	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	5.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	4.8	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	3.6	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	4.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	-3.6	−7.7pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.66×

CAGR · 10 yrs −1.4%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.75	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.81	+7.4%	Cons. · Japanese GAAP
FYE Mar 2019	0.81	−0.3%	Cons. · Japanese GAAP
FYE Mar 2020	0.79	−1.5%	Cons. · Japanese GAAP
FYE Mar 2021	0.71	−10.4%	Cons. · Japanese GAAP
FYE Mar 2022	0.76	+6.7%	Cons. · Japanese GAAP
FYE Mar 2023	0.76	−0.1%	Cons. · Japanese GAAP
FYE Mar 2024	0.76	+0.4%	Cons. · Japanese GAAP
FYE Mar 2025	0.69	−9.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.66	−4.0%	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 ¥75bn

CAGR · 10 yrs −1.1%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	82.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	90.7	+9.7%	Cons. · Japanese GAAP
FYE Mar 2019	64.0	−29.4%	Cons. · Japanese GAAP
FYE Mar 2020	74.2	+15.9%	Cons. · Japanese GAAP
FYE Mar 2021	55.5	−25.3%	Cons. · Japanese GAAP
FYE Mar 2022	52.1	−6.1%	Cons. · Japanese GAAP
FYE Mar 2023	55.2	+6.0%	Cons. · Japanese GAAP
FYE Mar 2024	73.5	+33.1%	Cons. · Japanese GAAP
FYE Mar 2025	75.4	+2.7%	Cons. · Japanese GAAP
FYE Mar 2026	74.7	−0.9%	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 -¥61bn

Average · 10 yrs -¥54bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-31.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-33.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-42.8	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-33.9	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-40.4	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-65.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-64.1	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-76.2	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-91.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-61.3	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 -¥14bn

Average · 10 yrs -¥22bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-60.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-33.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-31.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-49.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	5.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-3.7	−171.1%	Cons. · Japanese GAAP
FYE Mar 2023	8.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-40.7	−608.9%	Cons. · Japanese GAAP
FYE Mar 2025	4.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-14.4	−405.2%	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 ¥59bn

CAGR · 10 yrs −1.4%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	67.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	90.3	+34.4%	Cons. · Japanese GAAP
FYE Mar 2019	80.4	−11.0%	Cons. · Japanese GAAP
FYE Mar 2020	70.0	−12.9%	Cons. · Japanese GAAP
FYE Mar 2021	91.1	+30.0%	Cons. · Japanese GAAP
FYE Mar 2022	92.3	+1.3%	Cons. · Japanese GAAP
FYE Mar 2023	101	+9.7%	Cons. · Japanese GAAP
FYE Mar 2024	65.4	−35.4%	Cons. · Japanese GAAP
FYE Mar 2025	57.0	−12.9%	Cons. · Japanese GAAP
FYE Mar 2026	59.1	+3.7%	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 ¥13bn

CAGR · 10 yrs −13.9%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	51.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	57.1	+10.7%	Cons. · Japanese GAAP
FYE Mar 2019	21.3	−62.7%	Cons. · Japanese GAAP
FYE Mar 2020	40.3	+89.4%	Cons. · Japanese GAAP
FYE Mar 2021	15.1	−62.6%	Cons. · Japanese GAAP
FYE Mar 2022	-12.9	−185.2%	Cons. · Japanese GAAP
FYE Mar 2023	-8.8	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-15.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	13.4	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 Mar 2026 10.1%

Average · 10 yrs 10.4%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	14.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	9.9	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2020	12.1	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2021	9.3	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2022	7.4	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2023	7.1	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	9.0	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2025	9.8	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	10.1	+0.4pp	Cons. · Japanese GAAP

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

Net cash

FYE Mar 2026 -¥108bn

Average · 10 yrs -¥31bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-41.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-6.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	14.8	+110.6%	Cons. · Japanese GAAP
FYE Mar 2022	6.7	−54.6%	Cons. · Japanese GAAP
FYE Mar 2023	-21.4	−419.0%	Cons. · Japanese GAAP
FYE Mar 2024	-56.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-98.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-108	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 n/a

Change · 9 yrs −¥66bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	559	n/a
FYE Mar 2018	591	n/a
FYE Mar 2019	366	n/a
FYE Mar 2020	265	n/a
FYE Mar 2021	613	n/a
FYE Mar 2022	470	n/a
FYE Mar 2023	436	n/a
FYE Mar 2024	563	n/a
FYE Mar 2025	492	n/a
FYE Mar 2026	n/a	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 n/a

Change · 9 yrs +14¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	2,311	n/a
FYE Mar 2018	2,549	n/a
FYE Mar 2019	1,578	n/a
FYE Mar 2020	1,176	n/a
FYE Mar 2021	2,714	n/a
FYE Mar 2022	2,080	n/a
FYE Mar 2023	1,963	n/a
FYE Mar 2024	2,590	n/a
FYE Mar 2025	2,326	n/a
FYE Mar 2026	n/a	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 211,686,000shares

Change · 10 yrs −30,053,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	241,739,000	Parent
FYE Mar 2018	231,739,000	Parent
FYE Mar 2019	231,739,000	Parent
FYE Mar 2020	225,739,000	Parent
FYE Mar 2021	225,739,000	Parent
FYE Mar 2022	225,739,000	Parent
FYE Mar 2023	222,239,000	Parent
FYE Mar 2024	217,239,000	Parent
FYE Mar 2025	211,686,000	Parent
FYE Mar 2026	211,686,000	Parent

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

EPS earnings per share

FYE Mar 2026 -207.04¥

Change · 10 yrs −428.87¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	221.83	Cons.
FYE Mar 2018	281.39	Cons.
FYE Mar 2019	257.46	Cons.
FYE Mar 2020	100.50	Cons.
FYE Mar 2021	173.41	Cons.
FYE Mar 2022	232.15	Cons.
FYE Mar 2023	239.08	Cons.
FYE Mar 2024	190.97	Cons.
FYE Mar 2025	228.93	Cons.
FYE Mar 2026	-207.04	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 3,053.66¥

Change · 10 yrs +1,296.76¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,756.90	Cons. · Japanese GAAP
FYE Mar 2018	2,016.77	Cons. · Japanese GAAP
FYE Mar 2019	2,170.38	Cons. · Japanese GAAP
FYE Mar 2020	2,181.82	Cons. · Japanese GAAP
FYE Mar 2021	2,322.44	Cons. · Japanese GAAP
FYE Mar 2022	2,519.57	Cons. · Japanese GAAP
FYE Mar 2023	2,734.05	Cons. · Japanese GAAP
FYE Mar 2024	3,027.75	Cons. · Japanese GAAP
FYE Mar 2025	3,156.67	Cons. · Japanese GAAP
FYE Mar 2026	3,053.66	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 n/a

Average · 9 yrs 10.43×

Fiscal year	PER ×	Basis
FYE Mar 2017	10.42	Cons.
FYE Mar 2018	9.06	Cons.
FYE Mar 2019	6.13	Cons.
FYE Mar 2020	11.70	Cons.
FYE Mar 2021	15.65	Cons.
FYE Mar 2022	8.96	Cons.
FYE Mar 2023	8.21	Cons.
FYE Mar 2024	13.56	Cons.
FYE Mar 2025	10.16	Cons.
FYE Mar 2026	n/a	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 n/a

Average · 9 yrs 0.83×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.17	Cons.
FYE Mar 2018	1.17	Cons.
FYE Mar 2019	0.67	Cons.
FYE Mar 2020	0.50	Cons.
FYE Mar 2021	1.08	Cons.
FYE Mar 2022	0.76	Cons.
FYE Mar 2023	0.66	Cons.
FYE Mar 2024	0.79	Cons.
FYE Mar 2025	0.68	Cons.
FYE Mar 2026	n/a	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 8,319people

Change · 10 yrs +285 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	8,034	n/a	Cons.
FYE Mar 2018	8,009	−0.3%	Cons.
FYE Mar 2019	8,276	+3.3%	Cons.
FYE Mar 2020	8,954	+8.2%	Cons.
FYE Mar 2021	8,998	+0.5%	Cons.
FYE Mar 2022	9,888	+9.9%	Cons.
FYE Mar 2023	10,050	+1.6%	Cons.
FYE Mar 2024	7,918	−21.2%	Cons.
FYE Mar 2025	8,146	+2.9%	Cons.
FYE Mar 2026	8,319	+2.1%	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 2,562people

Change · 10 yrs +239 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	2,323	n/a	Parent
FYE Mar 2018	2,290	−1.4%	Parent
FYE Mar 2019	2,355	+2.8%	Parent
FYE Mar 2020	2,391	+1.5%	Parent
FYE Mar 2021	2,427	+1.5%	Parent
FYE Mar 2022	2,461	+1.4%	Parent
FYE Mar 2023	2,448	−0.5%	Parent
FYE Mar 2024	2,486	+1.6%	Parent
FYE Mar 2025	2,523	+1.5%	Parent
FYE Mar 2026	2,562	+1.5%	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 908万円

Change · 8 yrs +44万円

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	864	n/a	Parent
FYE Mar 2020	879	+1.7%	Parent
FYE Mar 2021	847	−3.6%	Parent
FYE Mar 2022	871	+2.8%	Parent
FYE Mar 2023	883	+1.3%	Parent
FYE Mar 2024	882	−0.1%	Parent
FYE Mar 2025	881	−0.1%	Parent
FYE Mar 2026	908	+3.0%	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 41.0years

Change · 8 yrs +0.8 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	40.2	n/a	Parent
FYE Mar 2020	40.6	+1.0%	Parent
FYE Mar 2021	40.9	+0.7%	Parent
FYE Mar 2022	40.9	−0.0%	Parent
FYE Mar 2023	40.9	−0.0%	Parent
FYE Mar 2024	40.9	−0.0%	Parent
FYE Mar 2025	40.1	−2.0%	Parent
FYE Mar 2026	41.0	+2.2%	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 17.5years

Change · 8 yrs −0.0 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	17.5	n/a	Parent
FYE Mar 2020	17.6	+0.6%	Parent
FYE Mar 2021	17.8	+1.1%	Parent
FYE Mar 2022	17.8	−0.0%	Parent
FYE Mar 2023	17.7	−0.6%	Parent
FYE Mar 2024	17.5	−1.1%	Parent
FYE Mar 2025	17.4	−0.6%	Parent
FYE Mar 2026	17.5	+0.6%	Parent

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

Revenue per employee

FYE Mar 2026 ¥88.7m

Change · 10 yrs +¥19.5m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	69.3	n/a	Cons.
FYE Mar 2018	79.4	+14.6%	Cons.
FYE Mar 2019	78.4	−1.2%	Cons.
FYE Mar 2020	68.5	−12.6%	Cons.
FYE Mar 2021	66.2	−3.3%	Cons.
FYE Mar 2022	71.4	+7.8%	Cons.
FYE Mar 2023	77.7	+8.9%	Cons.
FYE Mar 2024	103	+32.2%	Cons.
FYE Mar 2025	95.0	−7.6%	Cons.
FYE Mar 2026	88.7	−6.6%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.4m

Change · 10 yrs −¥0.0m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	5.4	n/a	Cons.
FYE Mar 2018	7.8	+43.8%	Cons.
FYE Mar 2019	5.0	−36.2%	Cons.
FYE Mar 2020	3.8	−23.5%	Cons.
FYE Mar 2021	4.9	+29.3%	Cons.
FYE Mar 2022	5.6	+13.2%	Cons.
FYE Mar 2023	4.9	−12.9%	Cons.
FYE Mar 2024	6.0	+22.5%	Cons.
FYE Mar 2025	6.2	+4.4%	Cons.
FYE Mar 2026	5.4	−12.8%	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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