Financials

Adeka: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥417bnYoY +2.3%

FYE Mar 2026 · Operating profit¥42bnYoY +1.5%

FYE Mar 2026 · Net profit¥28bnYoY +11.4%

FYE Mar 2026 · Equity ratio56.0%YoY +1.3pp

FYE Mar 2026 · Group employees5,434YoY −19

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥223bn	n/a	¥21bn	n/a	9.4%	¥15bn	Kori Akio	Food distributor Crown made a subsidiary; stake raised in Showa Kosan
FYE Mar 2018Consolidated	¥240bn	+7.2%	¥21bn	+1.4%	8.9%	¥15bn	Kori Akio	<a class="en-history_person" href="/tse/4401/executives/ceo/shirozume-hidetaka/" hreflang="ja">Shirozume Hidetaka</a> becomes president and representative director
FYE Mar 2019Consolidated	¥299bn	+24.9%	¥27bn	+24.9%	8.9%	¥17bn	Kori Akio	Nihon Nohyaku made a consolidated subsidiary by tender offer and share issue
FYE Mar 2020Consolidated	¥304bn	+1.6%	¥23bn	−15.5%	7.4%	¥15bn	Shirozume Hidetaka	—
FYE Mar 2021Consolidated	¥327bn	+7.5%	¥29bn	+28.7%	8.9%	¥16bn	Shirozume Hidetaka	—
FYE Mar 2022Consolidated	¥361bn	+10.4%	¥34bn	+17.4%	9.4%	¥24bn	Shirozume Hidetaka	Converted to a company with an audit and supervisory committee
FYE Mar 2023Consolidated	¥403bn	+11.7%	¥32bn	−4.9%	8.0%	¥17bn	Shirozume Hidetaka	Capacity for high-k materials doubled at ADEKA Korea's second Jeonju plant
FYE Mar 2024Consolidated	¥400bn	−0.9%	¥35bn	+9.5%	8.9%	¥23bn	Shirozume Hidetaka	ADEKA VISION 2030 begins; Incubation Alliance made a subsidiary
FYE Mar 2025Consolidated	¥407bn	+1.8%	¥41bn	+15.8%	10.1%	¥25bn	Shirozume Hidetaka	—
FYE Mar 2026Consolidated	¥417bn	+2.3%	¥42bn	+1.5%	10.0%	¥28bn	Shirozume Hidetaka	Uehara Foods sold to Kobe Bussan for ¥700m

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 ¥417bn

CAGR · 10 yrs +7.2%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	223	n/a	Cons. · Japanese GAAP
FYE Mar 2018	240	+7.2%	Cons. · Japanese GAAP
FYE Mar 2019	299	+24.9%	Cons. · Japanese GAAP
FYE Mar 2020	304	+1.6%	Cons. · Japanese GAAP
FYE Mar 2021	327	+7.5%	Cons. · Japanese GAAP
FYE Mar 2022	361	+10.4%	Cons. · Japanese GAAP
FYE Mar 2023	403	+11.7%	Cons. · Japanese GAAP
FYE Mar 2024	400	−0.9%	Cons. · Japanese GAAP
FYE Mar 2025	407	+1.8%	Cons. · Japanese GAAP
FYE Mar 2026	417	+2.3%	Cons. · Japanese GAAP

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

Cost of sales

FYE Mar 2026 ¥298bn

CAGR · 10 yrs +6.6%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	168	n/a	Cons. · Japanese GAAP
FYE Mar 2018	182	+8.5%	Cons. · Japanese GAAP
FYE Mar 2019	225	+23.6%	Cons. · Japanese GAAP
FYE Mar 2020	225	−0.1%	Cons. · Japanese GAAP
FYE Mar 2021	240	+7.0%	Cons. · Japanese GAAP
FYE Mar 2022	266	+10.7%	Cons. · Japanese GAAP
FYE Mar 2023	305	+14.7%	Cons. · Japanese GAAP
FYE Mar 2024	295	−3.3%	Cons. · Japanese GAAP
FYE Mar 2025	292	−0.9%	Cons. · Japanese GAAP
FYE Mar 2026	298	+1.9%	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 ¥119bn

CAGR · 10 yrs +8.7%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	55.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	57.8	+3.4%	Cons. · Japanese GAAP
FYE Mar 2019	74.5	+29.0%	Cons. · Japanese GAAP
FYE Mar 2020	79.6	+6.7%	Cons. · Japanese GAAP
FYE Mar 2021	86.7	+9.0%	Cons. · Japanese GAAP
FYE Mar 2022	95.2	+9.8%	Cons. · Japanese GAAP
FYE Mar 2023	98.2	+3.2%	Cons. · Japanese GAAP
FYE Mar 2024	105	+6.6%	Cons. · Japanese GAAP
FYE Mar 2025	115	+9.7%	Cons. · Japanese GAAP
FYE Mar 2026	119	+3.3%	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 ¥77bn

CAGR · 10 yrs +9.2%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	34.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.4	+4.7%	Cons. · Japanese GAAP
FYE Mar 2019	47.9	+31.4%	Cons. · Japanese GAAP
FYE Mar 2020	57.0	+19.1%	Cons. · Japanese GAAP
FYE Mar 2021	57.8	+1.3%	Cons. · Japanese GAAP
FYE Mar 2022	61.2	+5.9%	Cons. · Japanese GAAP
FYE Mar 2023	65.8	+7.6%	Cons. · Japanese GAAP
FYE Mar 2024	69.3	+5.2%	Cons. · Japanese GAAP
FYE Mar 2025	73.9	+6.6%	Cons. · Japanese GAAP
FYE Mar 2026	77.1	+4.4%	Cons. · Japanese GAAP

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

Operating profit

FYE Mar 2026 ¥42bn

CAGR · 10 yrs +7.9%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	21.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.3	+1.4%	Cons. · Japanese GAAP
FYE Mar 2019	26.6	+24.9%	Cons. · Japanese GAAP
FYE Mar 2020	22.5	−15.5%	Cons. · Japanese GAAP
FYE Mar 2021	29.0	+28.7%	Cons. · Japanese GAAP
FYE Mar 2022	34.0	+17.4%	Cons. · Japanese GAAP
FYE Mar 2023	32.4	−4.9%	Cons. · Japanese GAAP
FYE Mar 2024	35.4	+9.5%	Cons. · Japanese GAAP
FYE Mar 2025	41.0	+15.8%	Cons. · Japanese GAAP
FYE Mar 2026	41.6	+1.5%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥7.9bn

CAGR · 10 yrs +15.2%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.0	−11.6%	Cons. · Japanese GAAP
FYE Mar 2019	2.1	+7.8%	Cons. · Japanese GAAP
FYE Mar 2020	2.5	+20.2%	Cons. · Japanese GAAP
FYE Mar 2021	2.7	+5.9%	Cons. · Japanese GAAP
FYE Mar 2022	3.2	+17.0%	Cons. · Japanese GAAP
FYE Mar 2023	4.5	+43.7%	Cons. · Japanese GAAP
FYE Mar 2024	6.5	+43.9%	Cons. · Japanese GAAP
FYE Mar 2025	6.3	−2.9%	Cons. · Japanese GAAP
FYE Mar 2026	7.9	+24.8%	Cons. · Japanese GAAP

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

Non-operating expenses

FYE Mar 2026 ¥6.7bn

CAGR · 10 yrs +19.0%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	−32.1%	Cons. · Japanese GAAP
FYE Mar 2019	2.2	+124.0%	Cons. · Japanese GAAP
FYE Mar 2020	3.1	+43.3%	Cons. · Japanese GAAP
FYE Mar 2021	2.4	−22.1%	Cons. · Japanese GAAP
FYE Mar 2022	1.5	−36.5%	Cons. · Japanese GAAP
FYE Mar 2023	4.3	+183.1%	Cons. · Japanese GAAP
FYE Mar 2024	6.2	+43.1%	Cons. · Japanese GAAP
FYE Mar 2025	8.0	+29.3%	Cons. · Japanese GAAP
FYE Mar 2026	6.7	−15.7%	Cons. · Japanese GAAP

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

Ordinary profit keijo rieki

FYE Mar 2026 ¥43bn

CAGR · 10 yrs +7.8%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	21.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.3	+2.2%	Cons. · Japanese GAAP
FYE Mar 2019	26.6	+19.1%	Cons. · Japanese GAAP
FYE Mar 2020	22.0	−17.4%	Cons. · Japanese GAAP
FYE Mar 2021	29.3	+33.2%	Cons. · Japanese GAAP
FYE Mar 2022	35.7	+21.8%	Cons. · Japanese GAAP
FYE Mar 2023	32.6	−8.6%	Cons. · Japanese GAAP
FYE Mar 2024	35.8	+9.8%	Cons. · Japanese GAAP
FYE Mar 2025	39.3	+10.0%	Cons. · Japanese GAAP
FYE Mar 2026	42.8	+8.7%	Cons. · Japanese GAAP

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

Extraordinary income

FYE Mar 2026 ¥2.5bn

CAGR · 9 yrs +40.3%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	1.8	+569.9%	Cons. · Japanese GAAP
FYE Mar 2021	1.4	−20.9%	Cons. · Japanese GAAP
FYE Mar 2022	2.0	+37.7%	Cons. · Japanese GAAP
FYE Mar 2023	1.1	−46.5%	Cons. · Japanese GAAP
FYE Mar 2024	0.7	−37.2%	Cons. · Japanese GAAP
FYE Mar 2025	3.2	+379.7%	Cons. · Japanese GAAP
FYE Mar 2026	2.5	−21.3%	Cons. · Japanese GAAP

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

Extraordinary loss

FYE Mar 2026 n/a

CAGR · 4 yrs +8.2%

Fiscal year	Extraordinary loss ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	590	n/a	Cons. · Japanese GAAP
FYE Mar 2019	336	−43.1%	Cons. · Japanese GAAP
FYE Mar 2020	851	+153.3%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	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	748	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: One-off losses, such as an impairment or a restructuring charge
Formula: Extraordinary loss line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥28bn

CAGR · 10 yrs +6.9%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	15.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.3	+0.1%	Cons. · Japanese GAAP
FYE Mar 2019	17.1	+11.1%	Cons. · Japanese GAAP
FYE Mar 2020	15.2	−10.8%	Cons. · Japanese GAAP
FYE Mar 2021	16.4	+7.9%	Cons. · Japanese GAAP
FYE Mar 2022	23.7	+44.3%	Cons. · Japanese GAAP
FYE Mar 2023	16.8	−29.2%	Cons. · Japanese GAAP
FYE Mar 2024	23.0	+36.9%	Cons. · Japanese GAAP
FYE Mar 2025	25.0	+8.9%	Cons. · Japanese GAAP
FYE Mar 2026	27.9	+11.4%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 28.5%

Average · 10 yrs 26.0%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	25.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.1	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	24.9	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	26.2	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	26.5	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	26.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	24.4	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2024	26.2	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	28.2	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	28.5	+0.3pp	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 10.0%

Average · 10 yrs 9.0%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	9.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	8.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	7.4	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	8.9	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2022	9.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	8.0	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	8.9	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	10.1	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	10.0	−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 10.3%

Average · 10 yrs 9.1%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	9.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	8.9	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	7.2	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	8.9	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	9.9	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	8.1	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2024	8.9	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	9.7	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	10.3	+0.6pp	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 6.7%

Average · 10 yrs 5.8%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	6.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	5.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	5.0	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	5.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	6.6	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	4.2	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2024	5.7	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	6.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	6.7	+0.5pp	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 71.5%

Average · 10 yrs 74.0%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	75.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	75.9	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	75.1	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	73.8	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	73.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	73.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	75.6	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2024	73.8	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	71.8	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	71.5	−0.3pp	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 18.5%

Average · 10 yrs 17.0%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	15.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.2	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	16.0	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	18.8	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2021	17.7	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2022	16.9	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	16.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	17.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	18.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	18.5	+0.4pp	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 ¥560bn

CAGR · 10 yrs +7.6%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	290	n/a	Cons. · Japanese GAAP
FYE Mar 2018	312	+7.5%	Cons. · Japanese GAAP
FYE Mar 2019	415	+32.8%	Cons. · Japanese GAAP
FYE Mar 2020	409	−1.2%	Cons. · Japanese GAAP
FYE Mar 2021	438	+6.9%	Cons. · Japanese GAAP
FYE Mar 2022	475	+8.6%	Cons. · Japanese GAAP
FYE Mar 2023	500	+5.2%	Cons. · Japanese GAAP
FYE Mar 2024	543	+8.6%	Cons. · Japanese GAAP
FYE Mar 2025	543	−0.0%	Cons. · Japanese GAAP
FYE Mar 2026	560	+3.1%	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 ¥313bn

CAGR · 10 yrs +6.4%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	180	n/a	Cons. · Japanese GAAP
FYE Mar 2018	197	+9.2%	Cons. · Japanese GAAP
FYE Mar 2019	205	+4.0%	Cons. · Japanese GAAP
FYE Mar 2020	210	+2.8%	Cons. · Japanese GAAP
FYE Mar 2021	228	+8.5%	Cons. · Japanese GAAP
FYE Mar 2022	250	+9.6%	Cons. · Japanese GAAP
FYE Mar 2023	261	+4.4%	Cons. · Japanese GAAP
FYE Mar 2024	285	+9.3%	Cons. · Japanese GAAP
FYE Mar 2025	297	+4.0%	Cons. · Japanese GAAP
FYE Mar 2026	313	+5.6%	Cons. · Japanese GAAP

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

Interest-bearing debt

FYE Mar 2026 ¥39bn

CAGR · 10 yrs +3.2%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	29.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.9	−22.3%	Cons. · Japanese GAAP
FYE Mar 2019	41.3	+80.4%	Cons. · Japanese GAAP
FYE Mar 2020	42.1	+1.9%	Cons. · Japanese GAAP
FYE Mar 2021	34.9	−17.1%	Cons. · Japanese GAAP
FYE Mar 2022	41.9	+20.0%	Cons. · Japanese GAAP
FYE Mar 2023	43.1	+2.7%	Cons. · Japanese GAAP
FYE Mar 2024	49.1	+13.9%	Cons. · Japanese GAAP
FYE Mar 2025	44.7	−8.9%	Cons. · Japanese GAAP
FYE Mar 2026	39.3	−12.1%	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 ¥16bn

CAGR · 10 yrs −1.6%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	18.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.6	−13.6%	Cons. · Japanese GAAP
FYE Mar 2019	21.7	+39.5%	Cons. · Japanese GAAP
FYE Mar 2020	21.8	+0.5%	Cons. · Japanese GAAP
FYE Mar 2021	22.6	+3.6%	Cons. · Japanese GAAP
FYE Mar 2022	23.8	+5.3%	Cons. · Japanese GAAP
FYE Mar 2023	22.3	−6.3%	Cons. · Japanese GAAP
FYE Mar 2024	26.8	+20.1%	Cons. · Japanese GAAP
FYE Mar 2025	18.5	−30.7%	Cons. · Japanese GAAP
FYE Mar 2026	15.6	−15.9%	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 ¥24bn

CAGR · 10 yrs +8.4%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	11.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.3	−35.9%	Cons. · Japanese GAAP
FYE Mar 2019	19.6	+166.9%	Cons. · Japanese GAAP
FYE Mar 2020	20.3	+3.5%	Cons. · Japanese GAAP
FYE Mar 2021	12.3	−39.2%	Cons. · Japanese GAAP
FYE Mar 2022	18.1	+47.0%	Cons. · Japanese GAAP
FYE Mar 2023	20.8	+14.6%	Cons. · Japanese GAAP
FYE Mar 2024	22.3	+7.2%	Cons. · Japanese GAAP
FYE Mar 2025	26.1	+17.3%	Cons. · Japanese GAAP
FYE Mar 2026	23.7	−9.3%	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 ¥15bn

CAGR · 10 yrs +16.2%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	4.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.1	+2.5%	Cons. · Japanese GAAP
FYE Mar 2019	17.6	+331.3%	Cons. · Japanese GAAP
FYE Mar 2020	16.4	−7.0%	Cons. · Japanese GAAP
FYE Mar 2021	16.2	−1.3%	Cons. · Japanese GAAP
FYE Mar 2022	16.8	+4.3%	Cons. · Japanese GAAP
FYE Mar 2023	18.0	+7.1%	Cons. · Japanese GAAP
FYE Mar 2024	16.5	−8.6%	Cons. · Japanese GAAP
FYE Mar 2025	14.6	−11.2%	Cons. · Japanese GAAP
FYE Mar 2026	15.4	+4.8%	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 ¥757m

CAGR · 3 yrs +191.6%

Fiscal year	Goodwill ¥ m	YoY	Basis
FYE Mar 2017	89.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.0	−67.4%	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	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	757	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 56.0%

Average · 10 yrs 54.6%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	62.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	63.0	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	49.4	−13.6pp	Cons. · Japanese GAAP
FYE Mar 2020	51.4	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2021	52.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	52.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	52.2	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	52.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	54.6	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2026	56.0	+1.3pp	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 12.5%

Average · 10 yrs 16.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	16.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.7	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2019	20.2	+8.5pp	Cons. · Japanese GAAP
FYE Mar 2020	20.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	15.3	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2022	16.8	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	16.5	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	17.2	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	15.1	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2026	12.5	−2.5pp	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 8.9%

Average · 10 yrs 8.0%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	8.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.8	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	8.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	7.2	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	7.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	9.5	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	6.4	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2024	8.1	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	8.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	8.9	+0.5pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 5.0%

Average · 10 yrs 4.4%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.9	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	4.1	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	3.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	3.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	5.0	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	3.4	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2024	4.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	4.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	5.0	+0.4pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.74×

CAGR · 10 yrs −0.4%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.77	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.77	−0.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.72	−5.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.74	+2.9%	Cons. · Japanese GAAP
FYE Mar 2021	0.75	+0.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.76	+1.7%	Cons. · Japanese GAAP
FYE Mar 2023	0.81	+6.1%	Cons. · Japanese GAAP
FYE Mar 2024	0.74	−8.7%	Cons. · Japanese GAAP
FYE Mar 2025	0.75	+1.8%	Cons. · Japanese GAAP
FYE Mar 2026	0.74	−0.8%	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 ¥41bn

CAGR · 10 yrs +7.0%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	22.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.2	+0.2%	Cons. · Japanese GAAP
FYE Mar 2019	18.3	−17.5%	Cons. · Japanese GAAP
FYE Mar 2020	27.4	+49.5%	Cons. · Japanese GAAP
FYE Mar 2021	36.9	+34.6%	Cons. · Japanese GAAP
FYE Mar 2022	21.1	−42.9%	Cons. · Japanese GAAP
FYE Mar 2023	17.3	−18.1%	Cons. · Japanese GAAP
FYE Mar 2024	42.0	+143.2%	Cons. · Japanese GAAP
FYE Mar 2025	46.2	+10.2%	Cons. · Japanese GAAP
FYE Mar 2026	40.6	−12.2%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Mar 2026 -¥30bn

Average · 10 yrs -¥18bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-16.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-19.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-18.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-15.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-14.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-11.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-19.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-23.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-12.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-30.1	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 -¥35bn

Average · 10 yrs -¥9.1bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-3.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	9.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-7.5	−183.3%	Cons. · Japanese GAAP
FYE Mar 2021	-6.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-11.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-4.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-22.3	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-35.3	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 ¥88bn

CAGR · 10 yrs +6.3%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	50.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	48.9	−3.7%	Cons. · Japanese GAAP
FYE Mar 2019	56.5	+15.5%	Cons. · Japanese GAAP
FYE Mar 2020	60.9	+7.8%	Cons. · Japanese GAAP
FYE Mar 2021	82.1	+34.9%	Cons. · Japanese GAAP
FYE Mar 2022	82.8	+0.8%	Cons. · Japanese GAAP
FYE Mar 2023	79.5	−3.9%	Cons. · Japanese GAAP
FYE Mar 2024	96.9	+21.8%	Cons. · Japanese GAAP
FYE Mar 2025	108	+11.2%	Cons. · Japanese GAAP
FYE Mar 2026	87.9	−18.5%	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 ¥11bn

CAGR · 10 yrs +7.5%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.1	−44.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−97.6%	Cons. · Japanese GAAP
FYE Mar 2020	12.2	+16571.2%	Cons. · Japanese GAAP
FYE Mar 2021	22.7	+86.4%	Cons. · Japanese GAAP
FYE Mar 2022	9.7	−57.1%	Cons. · Japanese GAAP
FYE Mar 2023	-2.3	−123.3%	Cons. · Japanese GAAP
FYE Mar 2024	18.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	33.7	+78.4%	Cons. · Japanese GAAP
FYE Mar 2026	10.5	−68.7%	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 9.7%

Average · 10 yrs 8.7%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	9.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.3	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	6.1	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2020	9.0	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2021	11.3	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2022	5.8	−5.4pp	Cons. · Japanese GAAP
FYE Mar 2023	4.3	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2024	10.5	+6.2pp	Cons. · Japanese GAAP
FYE Mar 2025	11.4	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	9.7	−1.6pp	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 ¥49bn

CAGR · 10 yrs +9.6%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	21.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.0	+22.1%	Cons. · Japanese GAAP
FYE Mar 2019	15.2	−41.6%	Cons. · Japanese GAAP
FYE Mar 2020	18.8	+23.7%	Cons. · Japanese GAAP
FYE Mar 2021	47.2	+151.4%	Cons. · Japanese GAAP
FYE Mar 2022	40.9	−13.4%	Cons. · Japanese GAAP
FYE Mar 2023	36.5	−10.8%	Cons. · Japanese GAAP
FYE Mar 2024	47.8	+31.2%	Cons. · Japanese GAAP
FYE Mar 2025	63.1	+31.9%	Cons. · Japanese GAAP
FYE Mar 2026	48.6	−23.0%	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 ¥375bn

Change · 10 yrs +¥207bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	168	n/a
FYE Mar 2018	199	n/a
FYE Mar 2019	168	n/a
FYE Mar 2020	140	n/a
FYE Mar 2021	225	n/a
FYE Mar 2022	280	n/a
FYE Mar 2023	234	n/a
FYE Mar 2024	335	n/a
FYE Mar 2025	279	n/a
FYE Mar 2026	375	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 3,611¥

Change · 10 yrs +1,989¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,621	n/a
FYE Mar 2018	1,918	n/a
FYE Mar 2019	1,623	n/a
FYE Mar 2020	1,351	n/a
FYE Mar 2021	2,172	n/a
FYE Mar 2022	2,703	n/a
FYE Mar 2023	2,258	n/a
FYE Mar 2024	3,225	n/a
FYE Mar 2025	2,689	n/a
FYE Mar 2026	3,611	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 103,768,142shares

Change · 10 yrs +116,700 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	103,651,442	Parent
FYE Mar 2018	103,651,442	Parent
FYE Mar 2019	103,651,442	Parent
FYE Mar 2020	103,714,442	Parent
FYE Mar 2021	103,714,442	Parent
FYE Mar 2022	103,768,142	Parent
FYE Mar 2023	103,768,142	Parent
FYE Mar 2024	103,768,142	Parent
FYE Mar 2025	103,768,142	Parent
FYE Mar 2026	103,768,142	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 277.95¥

Change · 10 yrs +128.92¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	149.03	Cons.
FYE Mar 2018	149.18	Cons.
FYE Mar 2019	165.78	Cons.
FYE Mar 2020	147.69	Cons.
FYE Mar 2021	159.01	Cons.
FYE Mar 2022	229.65	Cons.
FYE Mar 2023	163.30	Cons.
FYE Mar 2024	224.87	Cons.
FYE Mar 2025	245.55	Cons.
FYE Mar 2026	277.95	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 3,020.56¥

Change · 10 yrs +1,283.23¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,737.33	Cons. · Japanese GAAP
FYE Mar 2018	1,896.93	Cons. · Japanese GAAP
FYE Mar 2019	1,973.74	Cons. · Japanese GAAP
FYE Mar 2020	2,027.36	Cons. · Japanese GAAP
FYE Mar 2021	2,199.07	Cons. · Japanese GAAP
FYE Mar 2022	2,408.92	Cons. · Japanese GAAP
FYE Mar 2023	2,514.74	Cons. · Japanese GAAP
FYE Mar 2024	2,747.89	Cons. · Japanese GAAP
FYE Mar 2025	2,859.17	Cons. · Japanese GAAP
FYE Mar 2026	3,020.56	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 12.99×

Average · 10 yrs 12.02×

Fiscal year	PER ×	Basis
FYE Mar 2017	10.88	Cons.
FYE Mar 2018	12.86	Cons.
FYE Mar 2019	9.79	Cons.
FYE Mar 2020	9.15	Cons.
FYE Mar 2021	13.66	Cons.
FYE Mar 2022	11.77	Cons.
FYE Mar 2023	13.83	Cons.
FYE Mar 2024	14.34	Cons.
FYE Mar 2025	10.95	Cons.
FYE Mar 2026	12.99	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 1.13×

Average · 10 yrs 0.96×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.93	Cons.
FYE Mar 2018	1.00	Cons.
FYE Mar 2019	0.82	Cons.
FYE Mar 2020	0.66	Cons.
FYE Mar 2021	0.98	Cons.
FYE Mar 2022	1.11	Cons.
FYE Mar 2023	0.89	Cons.
FYE Mar 2024	1.15	Cons.
FYE Mar 2025	0.92	Cons.
FYE Mar 2026	1.13	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 5,434people

Change · 10 yrs +2,059 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	3,375	n/a	Cons.
FYE Mar 2018	3,551	+5.2%	Cons.
FYE Mar 2019	5,154	+45.1%	Cons.
FYE Mar 2020	5,189	+0.7%	Cons.
FYE Mar 2021	5,378	+3.6%	Cons.
FYE Mar 2022	5,466	+1.6%	Cons.
FYE Mar 2023	5,494	+0.5%	Cons.
FYE Mar 2024	5,512	+0.3%	Cons.
FYE Mar 2025	5,453	−1.1%	Cons.
FYE Mar 2026	5,434	−0.3%	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 1,827people

Change · 10 yrs +234 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,593	n/a	Parent
FYE Mar 2018	1,639	+2.9%	Parent
FYE Mar 2019	1,702	+3.8%	Parent
FYE Mar 2020	1,771	+4.1%	Parent
FYE Mar 2021	1,812	+2.3%	Parent
FYE Mar 2022	1,808	−0.2%	Parent
FYE Mar 2023	1,796	−0.7%	Parent
FYE Mar 2024	1,815	+1.1%	Parent
FYE Mar 2025	1,810	−0.3%	Parent
FYE Mar 2026	1,827	+0.9%	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 795万円

Change · 8 yrs +93万円

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	702	n/a	Parent
FYE Mar 2020	703	+0.2%	Parent
FYE Mar 2021	699	−0.6%	Parent
FYE Mar 2022	716	+2.4%	Parent
FYE Mar 2023	722	+0.9%	Parent
FYE Mar 2024	719	−0.4%	Parent
FYE Mar 2025	781	+8.7%	Parent
FYE Mar 2026	795	+1.8%	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 40.2years

Change · 8 yrs +1.7 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	38.5	n/a	Parent
FYE Mar 2020	38.3	−0.5%	Parent
FYE Mar 2021	38.5	+0.5%	Parent
FYE Mar 2022	38.9	+1.0%	Parent
FYE Mar 2023	39.6	+1.8%	Parent
FYE Mar 2024	39.9	+0.8%	Parent
FYE Mar 2025	40.2	+0.8%	Parent
FYE Mar 2026	40.2	−0.0%	Parent

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

Average length of service

FYE Mar 2026 17.1years

Change · 8 yrs +1.6 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	15.5	n/a	Parent
FYE Mar 2020	15.2	−1.9%	Parent
FYE Mar 2021	15.6	+2.6%	Parent
FYE Mar 2022	16.0	+2.6%	Parent
FYE Mar 2023	16.5	+3.1%	Parent
FYE Mar 2024	16.8	+1.8%	Parent
FYE Mar 2025	17.1	+1.8%	Parent
FYE Mar 2026	17.1	−0.0%	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 ¥76.7m

Change · 10 yrs +¥10.5m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	66.2	n/a	Cons.
FYE Mar 2018	67.5	+1.9%	Cons.
FYE Mar 2019	58.1	−13.9%	Cons.
FYE Mar 2020	58.6	+0.9%	Cons.
FYE Mar 2021	60.8	+3.8%	Cons.
FYE Mar 2022	66.1	+8.7%	Cons.
FYE Mar 2023	73.4	+11.1%	Cons.
FYE Mar 2024	72.5	−1.2%	Cons.
FYE Mar 2025	74.7	+2.9%	Cons.
FYE Mar 2026	76.7	+2.7%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥7.7m

Change · 10 yrs +¥1.4m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	6.2	n/a	Cons.
FYE Mar 2018	6.0	−3.6%	Cons.
FYE Mar 2019	5.2	−14.0%	Cons.
FYE Mar 2020	4.3	−16.0%	Cons.
FYE Mar 2021	5.4	+24.2%	Cons.
FYE Mar 2022	6.2	+15.5%	Cons.
FYE Mar 2023	5.9	−5.4%	Cons.
FYE Mar 2024	6.4	+9.1%	Cons.
FYE Mar 2025	7.5	+17.0%	Cons.
FYE Mar 2026	7.7	+1.8%	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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