Financials

Nomura Research Institute: FYE Mar 2026 and ten years of results (51 metrics)

FYE Mar 2026 · Revenue¥815bnYoY +6.5%

FYE Mar 2026 · Operating profit¥58bnYoY −56.8%

FYE Mar 2026 · Net profit¥15bnYoY −83.7%

FYE Mar 2026 · Equity ratio44.8%YoY −1.5pp

FYE Mar 2026 · Group employees16,894YoY +215

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥425bn	n/a	¥59bn	n/a	13.8%	¥45bn	Shimamoto Tadashi	<a class="en-history_person" href="/tse/4307/executives/ceo/konomoto-shingo/" hreflang="ja">Konomoto Shingo</a> becomes president; “digital social capital”
FYE Mar 2018Consolidated	¥471bn	+11.1%	¥65bn	+11.3%	13.8%	¥55bn	Konomoto Shingo	—
FYE Mar 2019Consolidated	¥501bn	+6.3%	¥71bn	+9.7%	14.3%	¥51bn	Konomoto Shingo	—
FYE Mar 2020Consolidated	¥529bn	+5.5%	¥86bn	+19.9%	16.2%	¥69bn	Konomoto Shingo	—
FYE Mar 2021Consolidated	¥550bn	+4.1%	¥81bn	−5.7%	14.7%	¥68bn	Konomoto Shingo	—
FYE Mar 2022Consolidated	¥612bn	+11.1%	¥106bn	+31.5%	17.4%	¥71bn	Konomoto Shingo	—
FYE Mar 2023Consolidated	¥692bn	+13.2%	¥112bn	+5.3%	16.2%	¥76bn	Konomoto Shingo	—
FYE Mar 2024Consolidated	¥737bn	+6.4%	¥120bn	+7.7%	16.3%	¥80bn	Konomoto Shingo	NRI Group Vision 2030 and Mid-Term Plan 2025; <span class="en-history_money" data-yen="50000000000" data-year="2023">$355.8M (¥50bn)</span> buyback
FYE Mar 2025Consolidated	¥765bn	+3.8%	¥135bn	+12.0%	17.6%	¥94bn	Konomoto Shingo	13.37 million shares cancelled; ROE 19.9%
FYE Mar 2026Consolidated	¥815bn	+6.5%	¥58bn	−56.8%	7.2%	¥15bn	Yanagisawa Hanae	—

How it compares

NTT DATA GroupDelisted 2025

Fujitsu¥3.50tnFY2025Operating margin 9.9%

IBM Japan, Ltd.¥832bnFY2025Operating margin 5.5%

Nomura Research Institute¥815bnFY2025Operating margin 7.2%

SCSK CorporationDelisted 2026

TIS¥596bnFY2025Operating margin 12.8%BIPROGY¥434bnFY2025Operating margin 9.8%NS Solutions¥381bnFY2025Operating margin 11.6%

FujisofutoDelisted 2025

Dentsu Soken¥165bnFY2025Operating margin 13.9%

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

Where the revenue goes

¥ bn

Cost of sales SG&A Other operating costs Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥815bn

CAGR · 10 yrs +7.5%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	425	n/a	Cons. · Japanese GAAP
FYE Mar 2018	471	+11.1%	Cons. · Japanese GAAP
FYE Mar 2019	501	+6.3%	Cons. · Japanese GAAP
FYE Mar 2020	529	+5.5%	Cons. · Japanese GAAP
FYE Mar 2021	550	moved to IFRS	Cons. · IFRS
FYE Mar 2022	612	+11.1%	Cons. · IFRS
FYE Mar 2023	692	+13.2%	Cons. · IFRS
FYE Mar 2024	737	+6.4%	Cons. · IFRS
FYE Mar 2025	765	+3.8%	Cons. · IFRS
FYE Mar 2026	815	+6.5%	Cons. · IFRS

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

Cost of sales

FYE Mar 2026 ¥515bn

CAGR · 10 yrs +7.0%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	281	n/a	Cons. · Japanese GAAP
FYE Mar 2018	312	+11.1%	Cons. · Japanese GAAP
FYE Mar 2019	337	+7.9%	Cons. · Japanese GAAP
FYE Mar 2020	346	+2.9%	Cons. · Japanese GAAP
FYE Mar 2021	365	moved to IFRS	Cons. · IFRS
FYE Mar 2022	396	+8.5%	Cons. · IFRS
FYE Mar 2023	452	+14.4%	Cons. · IFRS
FYE Mar 2024	476	+5.1%	Cons. · IFRS
FYE Mar 2025	490	+2.9%	Cons. · IFRS
FYE Mar 2026	515	+5.1%	Cons. · IFRS

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

Gross profit

FYE Mar 2026 ¥300bn

CAGR · 10 yrs +8.5%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	144	n/a	Cons. · Japanese GAAP
FYE Mar 2018	160	+11.0%	Cons. · Japanese GAAP
FYE Mar 2019	165	+3.2%	Cons. · Japanese GAAP
FYE Mar 2020	183	+10.9%	Cons. · Japanese GAAP
FYE Mar 2021	186	moved to IFRS	Cons. · IFRS
FYE Mar 2022	216	+16.3%	Cons. · IFRS
FYE Mar 2023	240	+11.0%	Cons. · IFRS
FYE Mar 2024	261	+8.8%	Cons. · IFRS
FYE Mar 2025	275	+5.5%	Cons. · IFRS
FYE Mar 2026	300	+9.0%	Cons. · IFRS

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

SG&A selling, general and administrative expenses

FYE Mar 2026 ¥146bn

CAGR · 10 yrs +6.1%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	85.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	94.5	+10.8%	Cons. · Japanese GAAP
FYE Mar 2019	93.3	−1.3%	Cons. · Japanese GAAP
FYE Mar 2020	97.5	+4.5%	Cons. · Japanese GAAP
FYE Mar 2021	98.4	moved to IFRS	Cons. · IFRS
FYE Mar 2022	114	+15.4%	Cons. · IFRS
FYE Mar 2023	132	+15.9%	Cons. · IFRS
FYE Mar 2024	142	+8.2%	Cons. · IFRS
FYE Mar 2025	144	+1.2%	Cons. · IFRS
FYE Mar 2026	146	+1.1%	Cons. · IFRS

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

Operating profit

FYE Mar 2026 ¥58bn

CAGR · 10 yrs −0.0%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	58.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	65.1	+11.3%	Cons. · Japanese GAAP
FYE Mar 2019	71.4	+9.7%	Cons. · Japanese GAAP
FYE Mar 2020	85.6	+19.9%	Cons. · Japanese GAAP
FYE Mar 2021	80.7	moved to IFRS	Cons. · IFRS
FYE Mar 2022	106	+31.5%	Cons. · IFRS
FYE Mar 2023	112	+5.3%	Cons. · IFRS
FYE Mar 2024	120	+7.7%	Cons. · IFRS
FYE Mar 2025	135	+12.0%	Cons. · IFRS
FYE Mar 2026	58.3	−56.8%	Cons. · IFRS

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

Non-operating income

FYE Mar 2026 ¥5.2bn

CAGR · 10 yrs +10.5%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	2.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.0	−5.1%	Cons. · Japanese GAAP
FYE Mar 2019	1.7	−13.0%	Cons. · Japanese GAAP
FYE Mar 2020	2.0	+15.3%	Cons. · Japanese GAAP
FYE Mar 2021	1.8	moved to IFRS	Cons. · IFRS
FYE Mar 2022	2.0	+7.1%	Cons. · IFRS
FYE Mar 2023	2.2	+12.5%	Cons. · IFRS
FYE Mar 2024	3.5	+56.5%	Cons. · IFRS
FYE Mar 2025	5.1	+45.7%	Cons. · IFRS
FYE Mar 2026	5.2	+2.3%	Cons. · IFRS

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

Non-operating expenses

FYE Mar 2026 ¥4.6bn

CAGR · 10 yrs +36.9%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	+260.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.8	−20.9%	Cons. · Japanese GAAP
FYE Mar 2020	2.2	+177.2%	Cons. · Japanese GAAP
FYE Mar 2021	11.5	moved to IFRS	Cons. · IFRS
FYE Mar 2022	3.5	−69.4%	Cons. · IFRS
FYE Mar 2023	5.6	+57.8%	Cons. · IFRS
FYE Mar 2024	6.7	+19.9%	Cons. · IFRS
FYE Mar 2025	5.8	−12.8%	Cons. · IFRS
FYE Mar 2026	4.6	−20.8%	Cons. · IFRS

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

Ordinary profit keijo rieki

FYE Mar 2026 n/a

CAGR · 4 yrs +11.9%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	60.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	66.2	+9.6%	Cons. · Japanese GAAP
FYE Mar 2019	72.4	+9.4%	Cons. · Japanese GAAP
FYE Mar 2020	84.5	+16.7%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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

Extraordinary income

FYE Mar 2026 n/a

CAGR · 4 yrs +16.4%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	13.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.1	+67.0%	Cons. · Japanese GAAP
FYE Mar 2019	9.4	−57.5%	Cons. · Japanese GAAP
FYE Mar 2020	20.9	+122.4%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥15bn

CAGR · 10 yrs −11.3%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	45.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	55.1	+22.4%	Cons. · Japanese GAAP
FYE Mar 2019	50.9	−7.6%	Cons. · Japanese GAAP
FYE Mar 2020	69.3	+36.0%	Cons. · Japanese GAAP
FYE Mar 2021	68.1	moved to IFRS	Cons. · IFRS
FYE Mar 2022	71.4	+4.9%	Cons. · IFRS
FYE Mar 2023	76.3	+6.8%	Cons. · IFRS
FYE Mar 2024	79.6	+4.4%	Cons. · IFRS
FYE Mar 2025	93.8	+17.7%	Cons. · IFRS
FYE Mar 2026	15.3	−83.7%	Cons. · IFRS

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

Gross margin

FYE Mar 2026 36.8%

Average · 10 yrs 34.7%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	33.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	32.9	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	34.5	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	33.8	moved to IFRS	Cons. · IFRS
FYE Mar 2022	35.3	+1.6pp	Cons. · IFRS
FYE Mar 2023	34.6	−0.7pp	Cons. · IFRS
FYE Mar 2024	35.4	+0.8pp	Cons. · IFRS
FYE Mar 2025	36.0	+0.6pp	Cons. · IFRS
FYE Mar 2026	36.8	+0.8pp	Cons. · IFRS

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

Operating margin

FYE Mar 2026 7.2%

Average · 10 yrs 14.7%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	13.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	14.3	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	16.2	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	14.7	moved to IFRS	Cons. · IFRS
FYE Mar 2022	17.4	+2.7pp	Cons. · IFRS
FYE Mar 2023	16.2	−1.2pp	Cons. · IFRS
FYE Mar 2024	16.3	+0.2pp	Cons. · IFRS
FYE Mar 2025	17.6	+1.3pp	Cons. · IFRS
FYE Mar 2026	7.2	−10.5pp	Cons. · IFRS

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

Ordinary margin

FYE Mar 2026 n/a

Average · 4 yrs 14.7%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	14.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	14.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	16.0	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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

Net margin

FYE Mar 2026 1.9%

Average · 10 yrs 10.6%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	10.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.7	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	10.2	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	13.1	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2021	12.4	moved to IFRS	Cons. · IFRS
FYE Mar 2022	11.7	−0.7pp	Cons. · IFRS
FYE Mar 2023	11.0	−0.7pp	Cons. · IFRS
FYE Mar 2024	10.8	−0.2pp	Cons. · IFRS
FYE Mar 2025	12.3	+1.4pp	Cons. · IFRS
FYE Mar 2026	1.9	−10.4pp	Cons. · IFRS

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

Cost-of-sales ratio

FYE Mar 2026 63.2%

Average · 10 yrs 65.3%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	66.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	66.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	67.1	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	65.4	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	66.2	moved to IFRS	Cons. · IFRS
FYE Mar 2022	64.7	−1.5pp	Cons. · IFRS
FYE Mar 2023	65.4	+0.7pp	Cons. · IFRS
FYE Mar 2024	64.6	−0.8pp	Cons. · IFRS
FYE Mar 2025	64.0	−0.6pp	Cons. · IFRS
FYE Mar 2026	63.2	−0.8pp	Cons. · IFRS

Definition: The share of revenue taken by the cost of sales
Formula: Cost of sales ÷ revenue
Source: Securities report (XBRL)

SG&A ratio

FYE Mar 2026 17.9%

Average · 10 yrs 18.9%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	20.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	18.6	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	18.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	17.9	moved to IFRS	Cons. · IFRS
FYE Mar 2022	18.6	+0.7pp	Cons. · IFRS
FYE Mar 2023	19.0	+0.4pp	Cons. · IFRS
FYE Mar 2024	19.3	+0.3pp	Cons. · IFRS
FYE Mar 2025	18.8	−0.5pp	Cons. · IFRS
FYE Mar 2026	17.9	−1.0pp	Cons. · IFRS

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

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

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥960bn

CAGR · 10 yrs +4.8%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	629	n/a	Cons. · Japanese GAAP
FYE Mar 2018	643	+2.3%	Cons. · Japanese GAAP
FYE Mar 2019	612	−4.8%	Cons. · Japanese GAAP
FYE Mar 2020	533	−12.9%	Cons. · Japanese GAAP
FYE Mar 2021	630	moved to IFRS	Cons. · IFRS
FYE Mar 2022	790	+25.3%	Cons. · IFRS
FYE Mar 2023	838	+6.2%	Cons. · IFRS
FYE Mar 2024	923	+10.1%	Cons. · IFRS
FYE Mar 2025	929	+0.6%	Cons. · IFRS
FYE Mar 2026	960	+3.4%	Cons. · IFRS

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

Equity net assets, shareholders' equity

FYE Mar 2026 ¥430bn

CAGR · 10 yrs −0.1%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	436	n/a	Cons. · Japanese GAAP
FYE Mar 2018	420	−3.5%	Cons. · Japanese GAAP
FYE Mar 2019	412	−2.0%	Cons. · Japanese GAAP
FYE Mar 2020	272	−34.0%	Cons. · Japanese GAAP
FYE Mar 2021	354	moved to IFRS	Cons. · IFRS
FYE Mar 2022	336	−4.9%	Cons. · IFRS
FYE Mar 2023	396	+17.7%	Cons. · IFRS
FYE Mar 2024	396	+0.1%	Cons. · IFRS
FYE Mar 2025	430	+8.6%	Cons. · IFRS
FYE Mar 2026	430	−0.1%	Cons. · IFRS

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

Interest-bearing debt

FYE Mar 2026 ¥204bn

CAGR · 10 yrs +25.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	27.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.5	−76.2%	Cons. · Japanese GAAP
FYE Mar 2019	19.6	+201.7%	Cons. · Japanese GAAP
FYE Mar 2020	103	+426.7%	Cons. · Japanese GAAP
FYE Mar 2021	117	moved to IFRS	Cons. · IFRS
FYE Mar 2022	208	+77.2%	Cons. · IFRS
FYE Mar 2023	203	−2.5%	Cons. · IFRS
FYE Mar 2024	267	+31.6%	Cons. · IFRS
FYE Mar 2025	246	−7.9%	Cons. · IFRS
FYE Mar 2026	204	−16.9%	Cons. · IFRS

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

Short-term borrowings

FYE Mar 2026 ¥12bn

CAGR · 10 yrs +17.4%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.1	+111.6%	Cons. · Japanese GAAP
FYE Mar 2019	6.3	+4.5%	Cons. · Japanese GAAP
FYE Mar 2020	6.7	+4.9%	Cons. · Japanese GAAP
FYE Mar 2021	23.8	moved to IFRS	Cons. · IFRS
FYE Mar 2022	117	+390.4%	Cons. · IFRS
FYE Mar 2023	20.2	−82.7%	Cons. · IFRS
FYE Mar 2024	13.2	−34.7%	Cons. · IFRS
FYE Mar 2025	37.3	+182.2%	Cons. · IFRS
FYE Mar 2026	12.1	−67.4%	Cons. · IFRS

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

Long-term borrowings

FYE Mar 2026 ¥192bn

CAGR · 10 yrs +23.4%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	28.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.1	−16.7%	Cons. · Japanese GAAP
FYE Mar 2019	17.9	−25.8%	Cons. · Japanese GAAP
FYE Mar 2020	23.0	+28.6%	Cons. · Japanese GAAP
FYE Mar 2021	93.7	moved to IFRS	Cons. · IFRS
FYE Mar 2022	91.3	−2.5%	Cons. · IFRS
FYE Mar 2023	183	+100.2%	Cons. · IFRS
FYE Mar 2024	254	+38.9%	Cons. · IFRS
FYE Mar 2025	209	−17.8%	Cons. · IFRS
FYE Mar 2026	192	−7.9%	Cons. · IFRS

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

Bonds

FYE Mar 2026 n/a

CAGR · 4 yrs +43.0%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	25.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	49.1	+95.9%	Cons. · Japanese GAAP
FYE Mar 2019	33.9	−30.9%	Cons. · Japanese GAAP
FYE Mar 2020	73.3	+116.1%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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

Intangible assets

FYE Mar 2026 ¥161bn

CAGR · 10 yrs +5.5%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	99.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	104	+4.3%	Cons. · Japanese GAAP
FYE Mar 2019	91.5	−11.8%	Cons. · Japanese GAAP
FYE Mar 2020	67.1	−26.7%	Cons. · Japanese GAAP
FYE Mar 2021	68.7	moved to IFRS	Cons. · IFRS
FYE Mar 2022	115	+67.7%	Cons. · IFRS
FYE Mar 2023	135	+17.5%	Cons. · IFRS
FYE Mar 2024	152	+12.3%	Cons. · IFRS
FYE Mar 2025	158	+4.2%	Cons. · IFRS
FYE Mar 2026	161	+1.6%	Cons. · IFRS

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

Goodwill

FYE Mar 2026 ¥41bn

CAGR · 10 yrs +1.6%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	35.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.6	+3.4%	Cons. · Japanese GAAP
FYE Mar 2019	27.6	−24.7%	Cons. · Japanese GAAP
FYE Mar 2020	16.1	−41.8%	Cons. · Japanese GAAP
FYE Mar 2021	20.4	moved to IFRS	Cons. · IFRS
FYE Mar 2022	95.5	+369.2%	Cons. · IFRS
FYE Mar 2023	102	+6.7%	Cons. · IFRS
FYE Mar 2024	113	+11.2%	Cons. · IFRS
FYE Mar 2025	110	−3.1%	Cons. · IFRS
FYE Mar 2026	41.0	−62.7%	Cons. · IFRS

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

Equity ratio

FYE Mar 2026 44.8%

Average · 10 yrs 53.3%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	69.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	65.4	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2019	67.3	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2020	51.0	−16.3pp	Cons. · Japanese GAAP
FYE Mar 2021	56.1	moved to IFRS	Cons. · IFRS
FYE Mar 2022	42.6	−13.5pp	Cons. · IFRS
FYE Mar 2023	47.2	+4.6pp	Cons. · IFRS
FYE Mar 2024	42.9	−4.3pp	Cons. · IFRS
FYE Mar 2025	46.3	+3.4pp	Cons. · IFRS
FYE Mar 2026	44.8	−1.5pp	Cons. · IFRS

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

Debt-to-equity ratio D/E ratio

FYE Mar 2026 47.6%

Average · 10 yrs 36.9%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.5	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2019	4.7	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2020	37.9	+33.1pp	Cons. · Japanese GAAP
FYE Mar 2021	33.2	moved to IFRS	Cons. · IFRS
FYE Mar 2022	61.9	+28.7pp	Cons. · IFRS
FYE Mar 2023	51.3	−10.6pp	Cons. · IFRS
FYE Mar 2024	67.4	+16.1pp	Cons. · IFRS
FYE Mar 2025	57.2	−10.3pp	Cons. · IFRS
FYE Mar 2026	47.6	−9.6pp	Cons. · IFRS

Definition: Borrowings measured against the company's own capital
Formula: Interest-bearing debt ÷ equity
Source: Securities report (XBRL)

ROE return on equity

FYE Mar 2026 3.5%

Average · 10 yrs 16.7%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	10.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.1	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2019	12.4	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	25.5	+13.1pp	Cons. · Japanese GAAP
FYE Mar 2021	19.3	moved to IFRS	Cons. · IFRS
FYE Mar 2022	21.2	+2.0pp	Cons. · IFRS
FYE Mar 2023	19.3	−2.0pp	Cons. · IFRS
FYE Mar 2024	20.1	+0.8pp	Cons. · IFRS
FYE Mar 2025	21.8	+1.7pp	Cons. · IFRS
FYE Mar 2026	3.5	−18.2pp	Cons. · IFRS

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

ROA return on assets

FYE Mar 2026 1.6%

Average · 10 yrs 8.6%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	7.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.6	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	8.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	13.0	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2021	10.8	moved to IFRS	Cons. · IFRS
FYE Mar 2022	9.0	−1.8pp	Cons. · IFRS
FYE Mar 2023	9.1	+0.1pp	Cons. · IFRS
FYE Mar 2024	8.6	−0.5pp	Cons. · IFRS
FYE Mar 2025	10.1	+1.5pp	Cons. · IFRS
FYE Mar 2026	1.6	−8.5pp	Cons. · IFRS

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

Asset turnover

FYE Mar 2026 0.85×

CAGR · 10 yrs +2.6%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.68	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.73	+8.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.82	+11.7%	Cons. · Japanese GAAP
FYE Mar 2020	0.99	+21.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.87	moved to IFRS	Cons. · IFRS
FYE Mar 2022	0.77	−11.3%	Cons. · IFRS
FYE Mar 2023	0.83	+6.6%	Cons. · IFRS
FYE Mar 2024	0.80	−3.3%	Cons. · IFRS
FYE Mar 2025	0.82	+3.2%	Cons. · IFRS
FYE Mar 2026	0.85	+3.1%	Cons. · IFRS

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥148bn

CAGR · 10 yrs +10.3%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	61.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	73.5	+20.2%	Cons. · Japanese GAAP
FYE Mar 2019	56.3	−23.3%	Cons. · Japanese GAAP
FYE Mar 2020	103	+82.4%	Cons. · Japanese GAAP
FYE Mar 2021	73.9	moved to IFRS	Cons. · IFRS
FYE Mar 2022	98.1	+32.7%	Cons. · IFRS
FYE Mar 2023	119	+21.2%	Cons. · IFRS
FYE Mar 2024	142	+19.7%	Cons. · IFRS
FYE Mar 2025	130	−8.5%	Cons. · IFRS
FYE Mar 2026	148	+13.4%	Cons. · IFRS

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

Investing cash flow

FYE Mar 2026 -¥97bn

Average · 10 yrs -¥46bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-30.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-17.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-16.8	n/a	Cons. · Japanese GAAP
FYE Mar 2020	18.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-20.5	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-131	n/a	Cons. · IFRS
FYE Mar 2023	-61.2	n/a	Cons. · IFRS
FYE Mar 2024	-53.4	n/a	Cons. · IFRS
FYE Mar 2025	-47.6	n/a	Cons. · IFRS
FYE Mar 2026	-97.0	n/a	Cons. · IFRS

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

Financing cash flow

FYE Mar 2026 -¥91bn

Average · 10 yrs -¥58bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-34.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-46.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-73.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-140	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-2.5	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-8.0	n/a	Cons. · IFRS
FYE Mar 2023	-44.9	n/a	Cons. · IFRS
FYE Mar 2024	-47.6	n/a	Cons. · IFRS
FYE Mar 2025	-87.3	n/a	Cons. · IFRS
FYE Mar 2026	-90.8	n/a	Cons. · IFRS

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

Cash and equivalents

FYE Mar 2026 ¥133bn

CAGR · 10 yrs −1.5%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	152	n/a	Cons. · Japanese GAAP
FYE Mar 2018	158	+4.1%	Cons. · Japanese GAAP
FYE Mar 2019	123	−22.2%	Cons. · Japanese GAAP
FYE Mar 2020	101	−18.2%	Cons. · Japanese GAAP
FYE Mar 2021	153	moved to IFRS	Cons. · IFRS
FYE Mar 2022	116	−24.5%	Cons. · IFRS
FYE Mar 2023	129	+11.8%	Cons. · IFRS
FYE Mar 2024	174	+34.6%	Cons. · IFRS
FYE Mar 2025	169	−3.1%	Cons. · IFRS
FYE Mar 2026	133	−21.3%	Cons. · IFRS

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

Free cash flow

FYE Mar 2026 ¥51bn

CAGR · 10 yrs +5.7%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	30.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	55.6	+80.5%	Cons. · Japanese GAAP
FYE Mar 2019	39.5	−28.9%	Cons. · Japanese GAAP
FYE Mar 2020	121	+206.6%	Cons. · Japanese GAAP
FYE Mar 2021	53.4	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-32.4	−160.7%	Cons. · IFRS
FYE Mar 2023	57.7	n/a	Cons. · IFRS
FYE Mar 2024	88.9	+54.0%	Cons. · IFRS
FYE Mar 2025	82.6	−7.0%	Cons. · IFRS
FYE Mar 2026	50.6	−38.8%	Cons. · IFRS

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

Operating cash flow margin

FYE Mar 2026 18.1%

Average · 10 yrs 16.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	14.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.6	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	11.2	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2020	19.4	+8.2pp	Cons. · Japanese GAAP
FYE Mar 2021	13.4	moved to IFRS	Cons. · IFRS
FYE Mar 2022	16.0	+2.6pp	Cons. · IFRS
FYE Mar 2023	17.2	+1.1pp	Cons. · IFRS
FYE Mar 2024	19.3	+2.1pp	Cons. · IFRS
FYE Mar 2025	17.0	−2.3pp	Cons. · IFRS
FYE Mar 2026	18.1	+1.1pp	Cons. · IFRS

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

Net cash

FYE Mar 2026 -¥72bn

Average · 10 yrs ¥0.5bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	125	n/a	Cons. · Japanese GAAP
FYE Mar 2018	152	+21.7%	Cons. · Japanese GAAP
FYE Mar 2019	104	−31.7%	Cons. · Japanese GAAP
FYE Mar 2020	-2.2	−102.2%	Cons. · Japanese GAAP
FYE Mar 2021	35.7	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-92.6	−359.5%	Cons. · IFRS
FYE Mar 2023	-73.7	n/a	Cons. · IFRS
FYE Mar 2024	-93.1	n/a	Cons. · IFRS
FYE Mar 2025	-77.3	n/a	Cons. · IFRS
FYE Mar 2026	-71.8	n/a	Cons. · IFRS

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

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

Market capitalisation

FYE Mar 2026 ¥2.52tn

Change · 10 yrs +¥1.43tn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	1,085	n/a
FYE Mar 2018	1,266	n/a
FYE Mar 2019	1,266	n/a
FYE Mar 2020	1,464	n/a
FYE Mar 2021	2,091	n/a
FYE Mar 2022	2,452	n/a
FYE Mar 2023	1,822	n/a
FYE Mar 2024	2,465	n/a
FYE Mar 2025	2,814	n/a
FYE Mar 2026	2,517	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 4,331¥

Change · 10 yrs +223¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	4,108	n/a
FYE Mar 2018	5,043	n/a
FYE Mar 2019	5,040	n/a
FYE Mar 2020	2,287	n/a
FYE Mar 2021	3,428	n/a
FYE Mar 2022	4,015	n/a
FYE Mar 2023	3,068	n/a
FYE Mar 2024	4,244	n/a
FYE Mar 2025	4,842	n/a
FYE Mar 2026	4,331	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 581,241,000shares

Change · 10 yrs +317,241,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	264,000,000	Parent
FYE Mar 2018	251,000,000	Parent
FYE Mar 2019	251,260,000	Parent
FYE Mar 2020	640,000,000	Parent
FYE Mar 2021	610,000,000	Parent
FYE Mar 2022	610,696,000	Parent
FYE Mar 2023	593,652,000	Parent
FYE Mar 2024	580,796,000	Parent
FYE Mar 2025	581,241,000	Parent
FYE Mar 2026	581,241,000	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 26.62¥

Change · 10 yrs −155.15¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	181.77	Cons.
FYE Mar 2018	228.21	Cons.
FYE Mar 2019	72.11	Cons.
FYE Mar 2020	91.86	Cons.
FYE Mar 2021	88.34	Cons.
FYE Mar 2022	120.57	Cons.
FYE Mar 2023	128.92	Cons.
FYE Mar 2024	136.90	Cons.
FYE Mar 2025	163.57	Cons.
FYE Mar 2026	26.62	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 739.47¥

Change · 10 yrs −910.73¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,650.20	Cons. · Japanese GAAP
FYE Mar 2018	1,675.24	Cons. · Japanese GAAP
FYE Mar 2019	1,639.56	Cons. · Japanese GAAP
FYE Mar 2020	424.77	Cons. · Japanese GAAP
FYE Mar 2021	579.66	Cons. · IFRS
FYE Mar 2022	550.58	Cons. · IFRS
FYE Mar 2023	666.40	Cons. · IFRS
FYE Mar 2024	681.90	Cons. · IFRS
FYE Mar 2025	740.01	Cons. · IFRS
FYE Mar 2026	739.47	Cons. · IFRS

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

PER price-to-earnings ratio

FYE Mar 2026 162.70×

Average · 10 yrs 41.21×

Fiscal year	PER ×	Basis
FYE Mar 2017	22.60	Cons.
FYE Mar 2018	22.10	Cons.
FYE Mar 2019	23.30	Cons.
FYE Mar 2020	24.90	Cons.
FYE Mar 2021	38.80	Cons.
FYE Mar 2022	33.30	Cons.
FYE Mar 2023	23.80	Cons.
FYE Mar 2024	31.00	Cons.
FYE Mar 2025	29.60	Cons.
FYE Mar 2026	162.70	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 5.73×

Average · 10 yrs 4.98×

Fiscal year	PBR ×	Basis
FYE Mar 2017	2.35	Cons.
FYE Mar 2018	2.87	Cons.
FYE Mar 2019	3.04	Cons.
FYE Mar 2020	5.47	Cons.
FYE Mar 2021	6.26	Cons.
FYE Mar 2022	6.98	Cons.
FYE Mar 2023	4.55	Cons.
FYE Mar 2024	6.12	Cons.
FYE Mar 2025	6.38	Cons.
FYE Mar 2026	5.73	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 16,894people

Change · 10 yrs +5,289 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	11,605	n/a	Cons.
FYE Mar 2018	12,708	+9.5%	Cons.
FYE Mar 2019	12,578	−1.0%	Cons.
FYE Mar 2020	13,278	+5.6%	Cons.
FYE Mar 2021	13,430	+1.1%	Cons.
FYE Mar 2022	16,512	+22.9%	Cons.
FYE Mar 2023	17,394	+5.3%	Cons.
FYE Mar 2024	16,708	−3.9%	Cons.
FYE Mar 2025	16,679	−0.2%	Cons.
FYE Mar 2026	16,894	+1.3%	Cons.

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

Parent-company employees

FYE Mar 2026 7,982people

Change · 10 yrs +1,979 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	6,003	n/a	Parent
FYE Mar 2018	6,130	+2.1%	Parent
FYE Mar 2019	6,297	+2.7%	Parent
FYE Mar 2020	6,353	+0.9%	Parent
FYE Mar 2021	6,507	+2.4%	Parent
FYE Mar 2022	6,488	−0.3%	Parent
FYE Mar 2023	6,782	+4.5%	Parent
FYE Mar 2024	7,206	+6.3%	Parent
FYE Mar 2025	7,645	+6.1%	Parent
FYE Mar 2026	7,982	+4.4%	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 ¥13.3m

Change · 10 yrs +¥1.8m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	11.5	n/a	Parent
FYE Mar 2018	11.7	+1.3%	Parent
FYE Mar 2019	12.2	+4.8%	Parent
FYE Mar 2020	12.4	+1.1%	Parent
FYE Mar 2021	12.3	−0.8%	Parent
FYE Mar 2022	12.3	+0.6%	Parent
FYE Mar 2023	12.4	+0.8%	Parent
FYE Mar 2024	12.7	+2.4%	Parent
FYE Mar 2025	13.2	+3.9%	Parent
FYE Mar 2026	13.3	+0.8%	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 39.7years

Change · 8 yrs −0.6 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	40.3	n/a	Parent
FYE Mar 2020	40.4	+0.2%	Parent
FYE Mar 2021	40.5	+0.2%	Parent
FYE Mar 2022	40.6	+0.2%	Parent
FYE Mar 2023	40.6	−0.0%	Parent
FYE Mar 2024	40.2	−1.0%	Parent
FYE Mar 2025	39.9	−0.7%	Parent
FYE Mar 2026	39.7	−0.5%	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 13.7years

Change · 10 yrs −0.6 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	14.3	n/a	Parent
FYE Mar 2018	14.6	+2.1%	Parent
FYE Mar 2019	14.6	−0.0%	Parent
FYE Mar 2020	14.2	−2.7%	Parent
FYE Mar 2021	14.7	+3.5%	Parent
FYE Mar 2022	14.8	+0.7%	Parent
FYE Mar 2023	14.6	−1.4%	Parent
FYE Mar 2024	14.3	−2.1%	Parent
FYE Mar 2025	13.9	−2.8%	Parent
FYE Mar 2026	13.7	−1.4%	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 4,649people

Change · 10 yrs +1,264 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	3,385	n/a	n/a
FYE Mar 2018	4,143	+22.4%	n/a
FYE Mar 2019	3,678	−11.2%	n/a
FYE Mar 2020	3,871	+5.2%	n/a
FYE Mar 2021	4,115	+6.3%	n/a
FYE Mar 2022	4,626	+12.4%	n/a
FYE Mar 2023	5,082	+9.9%	n/a
FYE Mar 2024	4,906	−3.5%	n/a
FYE Mar 2025	4,944	+0.8%	n/a
FYE Mar 2026	4,649	−6.0%	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 ¥48.2m

Change · 10 yrs +¥11.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	36.6	n/a	Cons.
FYE Mar 2018	37.1	+1.4%	Cons.
FYE Mar 2019	39.9	+7.4%	Cons.
FYE Mar 2020	39.8	−0.1%	Cons.
FYE Mar 2021	41.0	n/a	Cons.
FYE Mar 2022	37.0	−9.6%	Cons.
FYE Mar 2023	39.8	+7.4%	Cons.
FYE Mar 2024	44.1	+10.8%	Cons.
FYE Mar 2025	45.9	+4.0%	Cons.
FYE Mar 2026	48.2	+5.2%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥3.4m

Change · 10 yrs −¥1.6m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	5.0	n/a	Cons.
FYE Mar 2018	5.1	+1.7%	Cons.
FYE Mar 2019	5.7	+10.8%	Cons.
FYE Mar 2020	6.4	+13.5%	Cons.
FYE Mar 2021	6.0	n/a	Cons.
FYE Mar 2022	6.4	+7.0%	Cons.
FYE Mar 2023	6.4	−0.1%	Cons.
FYE Mar 2024	7.2	+12.1%	Cons.
FYE Mar 2025	8.1	+12.2%	Cons.
FYE Mar 2026	3.4	−57.4%	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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