Financials

NOF Corporation: FYE Mar 2026 and ten years of results (48 metrics)

FYE Mar 2026 · Revenue¥258bnYoY +8.2%

FYE Mar 2026 · Operating profit¥47bnYoY +4.6%

FYE Mar 2026 · Net profit¥41bnYoY +11.1%

FYE Mar 2026 · Equity ratio74.0%YoY −4.0pp

FYE Mar 2026 · Group employees4,155YoY +158

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥174bn	n/a	¥24bn	n/a	14.0%	¥18bn	Kobayashi Akiharu	—
FYE Mar 2018Consolidated	¥180bn	+3.4%	¥26bn	+6.1%	14.3%	¥20bn	Kobayashi Akiharu	—
FYE Mar 2019Consolidated	¥189bn	+5.1%	¥28bn	+10.2%	15.0%	¥22bn	Kobayashi Akiharu	—
FYE Mar 2020Consolidated	¥181bn	−4.4%	¥27bn	−5.5%	14.9%	¥21bn	Miyamichi Tatsuomi	—
FYE Mar 2021Consolidated	¥173bn	−4.6%	¥27bn	−1.0%	15.4%	¥23bn	Miyamichi Tatsuomi	Display Materials Division folded into the Chemicals Division
FYE Mar 2022Consolidated	¥193bn	+11.6%	¥36bn	+33.8%	18.5%	¥27bn	Miyamichi Tatsuomi	Lipid nanoparticle raw materials for COVID-19 vaccines draw worldwide attention
FYE Mar 2023Consolidated	¥218bn	+13.0%	¥41bn	+14.1%	18.7%	¥34bn	Miyamichi Tatsuomi	Move to the Prime Market of the Tokyo Stock Exchange
FYE Mar 2024Consolidated	¥222bn	+2.1%	¥42bn	+3.7%	19.0%	¥34bn	Miyamichi Tatsuomi	Functional Materials Division created from the oil chemicals and chemicals divisions
FYE Mar 2025Consolidated	¥238bn	+7.2%	¥45bn	+7.5%	19.0%	¥36bn	Sawamura Koji	Hokkaido NOF absorbed into Nippon Koki, consolidating the industrial-chemicals organisation
FYE Mar 2026Consolidated	¥258bn	+8.2%	¥47bn	+4.6%	18.4%	¥41bn	Sawamura Koji	Record sales of ¥238.3bn and ROE of 13.4 per cent in the year to March

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 ¥258bn

CAGR · 10 yrs +4.5%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	174	n/a	Cons. · Japanese GAAP
FYE Mar 2018	180	+3.4%	Cons. · Japanese GAAP
FYE Mar 2019	189	+5.1%	Cons. · Japanese GAAP
FYE Mar 2020	181	−4.4%	Cons. · Japanese GAAP
FYE Mar 2021	173	−4.6%	Cons. · Japanese GAAP
FYE Mar 2022	193	+11.6%	Cons. · Japanese GAAP
FYE Mar 2023	218	+13.0%	Cons. · Japanese GAAP
FYE Mar 2024	222	+2.1%	Cons. · Japanese GAAP
FYE Mar 2025	238	+7.2%	Cons. · Japanese GAAP
FYE Mar 2026	258	+8.2%	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 ¥169bn

CAGR · 10 yrs +4.0%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	118	n/a	Cons. · Japanese GAAP
FYE Mar 2018	122	+3.4%	Cons. · Japanese GAAP
FYE Mar 2019	128	+4.9%	Cons. · Japanese GAAP
FYE Mar 2020	122	−4.6%	Cons. · Japanese GAAP
FYE Mar 2021	115	−5.8%	Cons. · Japanese GAAP
FYE Mar 2022	124	+7.3%	Cons. · Japanese GAAP
FYE Mar 2023	142	+14.6%	Cons. · Japanese GAAP
FYE Mar 2024	143	+0.7%	Cons. · Japanese GAAP
FYE Mar 2025	153	+7.3%	Cons. · Japanese GAAP
FYE Mar 2026	169	+10.3%	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 ¥89bn

CAGR · 10 yrs +5.3%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	55.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	57.6	+3.3%	Cons. · Japanese GAAP
FYE Mar 2019	60.9	+5.7%	Cons. · Japanese GAAP
FYE Mar 2020	58.6	−3.8%	Cons. · Japanese GAAP
FYE Mar 2021	57.4	−2.1%	Cons. · Japanese GAAP
FYE Mar 2022	68.9	+20.1%	Cons. · Japanese GAAP
FYE Mar 2023	75.9	+10.2%	Cons. · Japanese GAAP
FYE Mar 2024	79.5	+4.7%	Cons. · Japanese GAAP
FYE Mar 2025	85.2	+7.1%	Cons. · Japanese GAAP
FYE Mar 2026	89.1	+4.6%	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 ¥42bn

CAGR · 10 yrs +3.2%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	31.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	31.8	+1.1%	Cons. · Japanese GAAP
FYE Mar 2019	32.4	+2.0%	Cons. · Japanese GAAP
FYE Mar 2020	31.7	−2.2%	Cons. · Japanese GAAP
FYE Mar 2021	30.8	−3.0%	Cons. · Japanese GAAP
FYE Mar 2022	33.3	+8.3%	Cons. · Japanese GAAP
FYE Mar 2023	35.3	+6.0%	Cons. · Japanese GAAP
FYE Mar 2024	37.3	+5.7%	Cons. · Japanese GAAP
FYE Mar 2025	39.8	+6.7%	Cons. · Japanese GAAP
FYE Mar 2026	41.7	+4.6%	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 ¥47bn

CAGR · 10 yrs +7.7%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	24.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.8	+6.1%	Cons. · Japanese GAAP
FYE Mar 2019	28.4	+10.2%	Cons. · Japanese GAAP
FYE Mar 2020	26.9	−5.5%	Cons. · Japanese GAAP
FYE Mar 2021	26.6	−1.0%	Cons. · Japanese GAAP
FYE Mar 2022	35.6	+33.8%	Cons. · Japanese GAAP
FYE Mar 2023	40.6	+14.1%	Cons. · Japanese GAAP
FYE Mar 2024	42.1	+3.7%	Cons. · Japanese GAAP
FYE Mar 2025	45.3	+7.5%	Cons. · Japanese GAAP
FYE Mar 2026	47.4	+4.6%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥3.8bn

CAGR · 10 yrs +8.6%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.1	+15.1%	Cons. · Japanese GAAP
FYE Mar 2019	2.1	+3.6%	Cons. · Japanese GAAP
FYE Mar 2020	2.7	+27.0%	Cons. · Japanese GAAP
FYE Mar 2021	2.7	+1.1%	Cons. · Japanese GAAP
FYE Mar 2022	2.5	−7.2%	Cons. · Japanese GAAP
FYE Mar 2023	3.0	+16.9%	Cons. · Japanese GAAP
FYE Mar 2024	4.0	+35.1%	Cons. · Japanese GAAP
FYE Mar 2025	2.4	−39.6%	Cons. · Japanese GAAP
FYE Mar 2026	3.8	+54.7%	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 ¥0.8bn

CAGR · 10 yrs −3.8%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.4	−60.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.5	+7.2%	Cons. · Japanese GAAP
FYE Mar 2020	0.8	+57.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.5	−37.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.5	+8.9%	Cons. · Japanese GAAP
FYE Mar 2023	0.4	−19.3%	Cons. · Japanese GAAP
FYE Mar 2024	0.6	+40.2%	Cons. · Japanese GAAP
FYE Mar 2025	1.2	+99.7%	Cons. · Japanese GAAP
FYE Mar 2026	0.8	−31.4%	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 ¥50bn

CAGR · 10 yrs +8.1%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	25.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.4	+9.7%	Cons. · Japanese GAAP
FYE Mar 2019	30.1	+9.7%	Cons. · Japanese GAAP
FYE Mar 2020	28.8	−4.2%	Cons. · Japanese GAAP
FYE Mar 2021	28.9	+0.1%	Cons. · Japanese GAAP
FYE Mar 2022	37.6	+30.3%	Cons. · Japanese GAAP
FYE Mar 2023	43.2	+14.8%	Cons. · Japanese GAAP
FYE Mar 2024	45.6	+5.5%	Cons. · Japanese GAAP
FYE Mar 2025	46.6	+2.2%	Cons. · Japanese GAAP
FYE Mar 2026	50.4	+8.1%	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 ¥8.8bn

CAGR · 10 yrs +135.3%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.2	+29475.0%	Cons. · Japanese GAAP
FYE Mar 2019	1.2	+1.2%	Cons. · Japanese GAAP
FYE Mar 2020	2.4	+102.4%	Cons. · Japanese GAAP
FYE Mar 2021	5.4	+123.7%	Cons. · Japanese GAAP
FYE Mar 2022	1.2	−77.5%	Cons. · Japanese GAAP
FYE Mar 2023	4.9	+300.8%	Cons. · Japanese GAAP
FYE Mar 2024	3.0	−38.0%	Cons. · Japanese GAAP
FYE Mar 2025	4.3	+43.5%	Cons. · Japanese GAAP
FYE Mar 2026	8.8	+103.7%	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 ¥41bn

CAGR · 10 yrs +9.7%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	17.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.9	+13.2%	Cons. · Japanese GAAP
FYE Mar 2019	22.0	+10.7%	Cons. · Japanese GAAP
FYE Mar 2020	21.1	−4.1%	Cons. · Japanese GAAP
FYE Mar 2021	23.3	+10.2%	Cons. · Japanese GAAP
FYE Mar 2022	26.7	+14.5%	Cons. · Japanese GAAP
FYE Mar 2023	34.0	+27.3%	Cons. · Japanese GAAP
FYE Mar 2024	34.0	+0.1%	Cons. · Japanese GAAP
FYE Mar 2025	36.5	+7.4%	Cons. · Japanese GAAP
FYE Mar 2026	40.6	+11.1%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 34.5%

Average · 10 yrs 33.9%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	32.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	32.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	32.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	33.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	35.8	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2023	34.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	35.8	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	35.7	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	34.5	−1.2pp	Cons. · Japanese GAAP

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

Operating margin

FYE Mar 2026 18.4%

Average · 10 yrs 16.7%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	14.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.3	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	15.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	14.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	15.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	18.5	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2023	18.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	19.0	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	19.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	18.4	−0.6pp	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 19.5%

Average · 10 yrs 17.7%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	14.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	15.9	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	15.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	16.7	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	19.5	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2023	19.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	20.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	19.5	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	19.5	−0.0pp	Cons. · Japanese GAAP

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

Net margin

FYE Mar 2026 15.7%

Average · 10 yrs 13.4%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	10.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.1	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	11.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	11.7	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	13.5	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	13.9	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	15.6	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2024	15.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	15.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	15.7	+0.4pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 65.5%

Average · 10 yrs 66.1%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	67.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	68.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	67.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	67.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	66.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	64.2	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2023	65.1	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	64.2	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	64.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	65.5	+1.2pp	Cons. · Japanese GAAP

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

SG&A ratio

FYE Mar 2026 16.2%

Average · 10 yrs 17.1%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	18.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	17.2	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	17.5	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	17.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	17.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	16.2	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	16.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	16.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	16.2	−0.6pp	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 ¥399bn

CAGR · 10 yrs +7.0%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	217	n/a	Cons. · Japanese GAAP
FYE Mar 2018	236	+8.6%	Cons. · Japanese GAAP
FYE Mar 2019	245	+3.7%	Cons. · Japanese GAAP
FYE Mar 2020	235	−3.8%	Cons. · Japanese GAAP
FYE Mar 2021	272	+15.4%	Cons. · Japanese GAAP
FYE Mar 2022	290	+6.7%	Cons. · Japanese GAAP
FYE Mar 2023	309	+6.8%	Cons. · Japanese GAAP
FYE Mar 2024	341	+10.3%	Cons. · Japanese GAAP
FYE Mar 2025	357	+4.6%	Cons. · Japanese GAAP
FYE Mar 2026	399	+11.8%	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 ¥295bn

CAGR · 10 yrs +7.7%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	152	n/a	Cons. · Japanese GAAP
FYE Mar 2018	169	+11.2%	Cons. · Japanese GAAP
FYE Mar 2019	177	+5.2%	Cons. · Japanese GAAP
FYE Mar 2020	178	+0.2%	Cons. · Japanese GAAP
FYE Mar 2021	203	+14.0%	Cons. · Japanese GAAP
FYE Mar 2022	221	+8.9%	Cons. · Japanese GAAP
FYE Mar 2023	239	+8.3%	Cons. · Japanese GAAP
FYE Mar 2024	265	+10.8%	Cons. · Japanese GAAP
FYE Mar 2025	279	+5.1%	Cons. · Japanese GAAP
FYE Mar 2026	295	+6.0%	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 ¥3.3bn

CAGR · 10 yrs −7.6%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.3	−36.0%	Cons. · Japanese GAAP
FYE Mar 2019	9.2	+113.8%	Cons. · Japanese GAAP
FYE Mar 2020	9.4	+2.4%	Cons. · Japanese GAAP
FYE Mar 2021	4.6	−50.9%	Cons. · Japanese GAAP
FYE Mar 2022	2.6	−43.6%	Cons. · Japanese GAAP
FYE Mar 2023	4.4	+69.2%	Cons. · Japanese GAAP
FYE Mar 2024	4.4	−0.7%	Cons. · Japanese GAAP
FYE Mar 2025	3.5	−20.2%	Cons. · Japanese GAAP
FYE Mar 2026	3.3	−5.6%	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 ¥1.3bn

CAGR · 10 yrs −0.6%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.4	−2.5%	Cons. · Japanese GAAP
FYE Mar 2019	1.1	−18.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.4	+19.9%	Cons. · Japanese GAAP
FYE Mar 2021	1.6	+16.0%	Cons. · Japanese GAAP
FYE Mar 2022	2.0	+27.2%	Cons. · Japanese GAAP
FYE Mar 2023	2.1	+4.2%	Cons. · Japanese GAAP
FYE Mar 2024	1.6	−22.7%	Cons. · Japanese GAAP
FYE Mar 2025	1.5	−7.3%	Cons. · Japanese GAAP
FYE Mar 2026	1.3	−10.0%	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 ¥2.0bn

CAGR · 10 yrs −10.4%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.9	−45.0%	Cons. · Japanese GAAP
FYE Mar 2019	8.1	+176.7%	Cons. · Japanese GAAP
FYE Mar 2020	8.1	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	3.1	−62.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.6	−80.0%	Cons. · Japanese GAAP
FYE Mar 2023	2.3	+282.3%	Cons. · Japanese GAAP
FYE Mar 2024	2.8	+19.0%	Cons. · Japanese GAAP
FYE Mar 2025	2.0	−27.6%	Cons. · Japanese GAAP
FYE Mar 2026	2.0	−2.3%	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 ¥1.9bn

CAGR · 10 yrs +13.9%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	+71.1%	Cons. · Japanese GAAP
FYE Mar 2019	1.2	+13.1%	Cons. · Japanese GAAP
FYE Mar 2020	1.1	−9.0%	Cons. · Japanese GAAP
FYE Mar 2021	1.0	−5.8%	Cons. · Japanese GAAP
FYE Mar 2022	0.9	−4.2%	Cons. · Japanese GAAP
FYE Mar 2023	1.1	+21.2%	Cons. · Japanese GAAP
FYE Mar 2024	2.2	+88.7%	Cons. · Japanese GAAP
FYE Mar 2025	2.0	−10.0%	Cons. · Japanese GAAP
FYE Mar 2026	1.9	−1.6%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 74.0%

Average · 10 yrs 74.8%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	69.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	71.6	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2019	72.6	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	75.6	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2021	74.7	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	76.3	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2023	77.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	77.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	78.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	74.0	−4.0pp	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 1.1%

Average · 10 yrs 2.7%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	4.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.5	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2019	5.2	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2020	5.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	2.3	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2022	1.2	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2023	1.8	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	1.7	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	1.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	1.1	−0.1pp	Cons. · Japanese GAAP

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

ROE return on equity

FYE Mar 2026 13.7%

Average · 10 yrs 12.5%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	11.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	12.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	11.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	11.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	12.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	14.2	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	12.8	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	13.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	13.7	+0.6pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 10.2%

Average · 10 yrs 9.4%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	8.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	9.0	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	9.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	8.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	9.2	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	11.0	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2024	10.0	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	10.2	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	10.2	−0.1pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.65×

CAGR · 10 yrs −2.4%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.80	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.76	−4.8%	Cons. · Japanese GAAP
FYE Mar 2019	0.77	+1.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.77	−0.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.64	−17.3%	Cons. · Japanese GAAP
FYE Mar 2022	0.67	+4.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.70	+5.8%	Cons. · Japanese GAAP
FYE Mar 2024	0.65	−7.5%	Cons. · Japanese GAAP
FYE Mar 2025	0.67	+2.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.65	−3.1%	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 ¥36bn

CAGR · 10 yrs +4.6%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	24.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.2	−15.9%	Cons. · Japanese GAAP
FYE Mar 2019	19.9	−1.7%	Cons. · Japanese GAAP
FYE Mar 2020	27.8	+40.1%	Cons. · Japanese GAAP
FYE Mar 2021	30.7	+10.4%	Cons. · Japanese GAAP
FYE Mar 2022	27.4	−10.8%	Cons. · Japanese GAAP
FYE Mar 2023	23.3	−14.8%	Cons. · Japanese GAAP
FYE Mar 2024	30.0	+28.4%	Cons. · Japanese GAAP
FYE Mar 2025	29.0	−3.3%	Cons. · Japanese GAAP
FYE Mar 2026	35.9	+23.8%	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 -¥4.4bn

Average · 10 yrs -¥6.2bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-4.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-4.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-8.8	−562.2%	Cons. · Japanese GAAP
FYE Mar 2023	-0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-15.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-13.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-4.4	n/a	Cons. · Japanese GAAP

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

Financing cash flow

FYE Mar 2026 -¥31bn

Average · 10 yrs -¥15bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-8.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-10.8	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-11.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-8.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-15.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-16.2	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-17.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-22.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-31.4	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 ¥83bn

CAGR · 10 yrs +12.3%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	29.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.5	+24.8%	Cons. · Japanese GAAP
FYE Mar 2019	39.4	+7.9%	Cons. · Japanese GAAP
FYE Mar 2020	50.7	+28.8%	Cons. · Japanese GAAP
FYE Mar 2021	76.6	+51.1%	Cons. · Japanese GAAP
FYE Mar 2022	81.4	+6.3%	Cons. · Japanese GAAP
FYE Mar 2023	89.1	+9.4%	Cons. · Japanese GAAP
FYE Mar 2024	87.5	−1.8%	Cons. · Japanese GAAP
FYE Mar 2025	82.7	−5.5%	Cons. · Japanese GAAP
FYE Mar 2026	83.0	+0.3%	Cons. · Japanese GAAP

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

Free cash flow

FYE Mar 2026 ¥31bn

CAGR · 10 yrs +6.3%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	18.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.3	−15.7%	Cons. · Japanese GAAP
FYE Mar 2019	14.3	−6.6%	Cons. · Japanese GAAP
FYE Mar 2020	23.0	+60.6%	Cons. · Japanese GAAP
FYE Mar 2021	32.6	+41.8%	Cons. · Japanese GAAP
FYE Mar 2022	18.6	−42.9%	Cons. · Japanese GAAP
FYE Mar 2023	22.6	+21.4%	Cons. · Japanese GAAP
FYE Mar 2024	15.0	−33.7%	Cons. · Japanese GAAP
FYE Mar 2025	15.2	+1.5%	Cons. · Japanese GAAP
FYE Mar 2026	31.4	+106.5%	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 13.9%

Average · 10 yrs 13.3%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	13.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.2	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2019	10.5	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	15.4	+4.9pp	Cons. · Japanese GAAP
FYE Mar 2021	17.8	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2022	14.2	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2023	10.7	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2024	13.5	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2025	12.2	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	13.9	+1.7pp	Cons. · Japanese GAAP

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

Net cash

FYE Mar 2026 ¥80bn

CAGR · 10 yrs +15.1%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	22.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.2	+43.0%	Cons. · Japanese GAAP
FYE Mar 2019	30.2	−6.2%	Cons. · Japanese GAAP
FYE Mar 2020	41.3	+36.8%	Cons. · Japanese GAAP
FYE Mar 2021	72.0	+74.4%	Cons. · Japanese GAAP
FYE Mar 2022	78.8	+9.5%	Cons. · Japanese GAAP
FYE Mar 2023	84.7	+7.4%	Cons. · Japanese GAAP
FYE Mar 2024	83.1	−1.8%	Cons. · Japanese GAAP
FYE Mar 2025	79.2	−4.7%	Cons. · Japanese GAAP
FYE Mar 2026	79.7	+0.6%	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 ¥733bn

Change · 10 yrs +¥528bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	205	n/a
FYE Mar 2018	273	n/a
FYE Mar 2019	320	n/a
FYE Mar 2020	291	n/a
FYE Mar 2021	491	n/a
FYE Mar 2022	416	n/a
FYE Mar 2023	511	n/a
FYE Mar 2024	506	n/a
FYE Mar 2025	478	n/a
FYE Mar 2026	733	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 3,100¥

Change · 10 yrs +1,918¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,182	n/a
FYE Mar 2018	3,146	n/a
FYE Mar 2019	3,770	n/a
FYE Mar 2020	3,431	n/a
FYE Mar 2021	5,790	n/a
FYE Mar 2022	5,018	n/a
FYE Mar 2023	6,172	n/a
FYE Mar 2024	6,255	n/a
FYE Mar 2025	2,020	n/a
FYE Mar 2026	3,100	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 236,524,000shares

Change · 10 yrs +62,842,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	173,682,000	Parent
FYE Mar 2018	86,841,000	Parent
FYE Mar 2019	84,841,000	Parent
FYE Mar 2020	84,841,000	Parent
FYE Mar 2021	84,841,000	Parent
FYE Mar 2022	82,841,000	Parent
FYE Mar 2023	82,841,000	Parent
FYE Mar 2024	80,841,000	Parent
FYE Mar 2025	236,524,000	Parent
FYE Mar 2026	236,524,000	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 176.34¥

Change · 10 yrs −25.93¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	202.27	Cons.
FYE Mar 2018	230.96	Cons.
FYE Mar 2019	259.29	Cons.
FYE Mar 2020	83.91	Cons.
FYE Mar 2021	93.50	Cons.
FYE Mar 2022	107.92	Cons.
FYE Mar 2023	139.01	Cons.
FYE Mar 2024	141.17	Cons.
FYE Mar 2025	153.88	Cons.
FYE Mar 2026	176.34	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 1,248.69¥

Change · 10 yrs +374.90¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	873.80	Cons. · Japanese GAAP
FYE Mar 2018	1,943.77	Cons. · Japanese GAAP
FYE Mar 2019	2,092.09	Cons. · Japanese GAAP
FYE Mar 2020	2,097.29	Cons. · Japanese GAAP
FYE Mar 2021	2,390.22	Cons. · Japanese GAAP
FYE Mar 2022	2,666.90	Cons. · Japanese GAAP
FYE Mar 2023	2,887.18	Cons. · Japanese GAAP
FYE Mar 2024	3,278.08	Cons. · Japanese GAAP
FYE Mar 2025	1,177.59	Cons. · Japanese GAAP
FYE Mar 2026	1,248.69	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 17.58×

Average · 10 yrs 14.99×

Fiscal year	PER ×	Basis
FYE Mar 2017	11.69	Cons.
FYE Mar 2018	13.62	Cons.
FYE Mar 2019	14.54	Cons.
FYE Mar 2020	13.63	Cons.
FYE Mar 2021	20.64	Cons.
FYE Mar 2022	15.50	Cons.
FYE Mar 2023	14.80	Cons.
FYE Mar 2024	14.77	Cons.
FYE Mar 2025	13.13	Cons.
FYE Mar 2026	17.58	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 2.38×

Average · 10 yrs 1.86×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.35	Cons.
FYE Mar 2018	1.59	Cons.
FYE Mar 2019	1.79	Cons.
FYE Mar 2020	1.60	Cons.
FYE Mar 2021	2.36	Cons.
FYE Mar 2022	1.87	Cons.
FYE Mar 2023	2.08	Cons.
FYE Mar 2024	1.88	Cons.
FYE Mar 2025	1.69	Cons.
FYE Mar 2026	2.38	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 4,155people

Change · 10 yrs +443 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	3,712	n/a	Cons.
FYE Mar 2018	3,721	+0.2%	Cons.
FYE Mar 2019	3,725	+0.1%	Cons.
FYE Mar 2020	3,718	−0.2%	Cons.
FYE Mar 2021	3,755	+1.0%	Cons.
FYE Mar 2022	3,787	+0.9%	Cons.
FYE Mar 2023	3,818	+0.8%	Cons.
FYE Mar 2024	3,879	+1.6%	Cons.
FYE Mar 2025	3,997	+3.0%	Cons.
FYE Mar 2026	4,155	+4.0%	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 1,976people

Change · 10 yrs +318 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,658	n/a	Parent
FYE Mar 2018	1,668	+0.6%	Parent
FYE Mar 2019	1,648	−1.2%	Parent
FYE Mar 2020	1,675	+1.6%	Parent
FYE Mar 2021	1,715	+2.4%	Parent
FYE Mar 2022	1,737	+1.3%	Parent
FYE Mar 2023	1,762	+1.4%	Parent
FYE Mar 2024	1,794	+1.8%	Parent
FYE Mar 2025	1,895	+5.6%	Parent
FYE Mar 2026	1,976	+4.3%	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 ¥8.4m

Change · 8 yrs +¥0.7m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	7.8	n/a	Parent
FYE Mar 2020	7.8	+0.4%	Parent
FYE Mar 2021	7.7	−1.3%	Parent
FYE Mar 2022	7.9	+3.2%	Parent
FYE Mar 2023	8.0	+0.3%	Parent
FYE Mar 2024	8.2	+2.7%	Parent
FYE Mar 2025	8.4	+2.2%	Parent
FYE Mar 2026	8.4	+1.0%	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 42.9years

Change · 8 yrs −0.2 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	43.1	n/a	Parent
FYE Mar 2020	43.4	+0.7%	Parent
FYE Mar 2021	43.4	−0.0%	Parent
FYE Mar 2022	43.4	−0.0%	Parent
FYE Mar 2023	43.6	+0.5%	Parent
FYE Mar 2024	43.4	−0.5%	Parent
FYE Mar 2025	43.1	−0.7%	Parent
FYE Mar 2026	42.9	−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 17.5years

Change · 8 yrs −1.3 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	18.8	n/a	Parent
FYE Mar 2020	19.0	+1.1%	Parent
FYE Mar 2021	18.9	−0.5%	Parent
FYE Mar 2022	18.8	−0.5%	Parent
FYE Mar 2023	18.9	+0.5%	Parent
FYE Mar 2024	18.4	−2.6%	Parent
FYE Mar 2025	17.9	−2.7%	Parent
FYE Mar 2026	17.5	−2.2%	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 ¥62.1m

Change · 10 yrs +¥15.2m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	46.9	n/a	Cons.
FYE Mar 2018	48.4	+3.1%	Cons.
FYE Mar 2019	50.8	+5.0%	Cons.
FYE Mar 2020	48.7	−4.2%	Cons.
FYE Mar 2021	46.0	−5.5%	Cons.
FYE Mar 2022	50.9	+10.6%	Cons.
FYE Mar 2023	57.0	+12.1%	Cons.
FYE Mar 2024	57.3	+0.5%	Cons.
FYE Mar 2025	59.6	+4.1%	Cons.
FYE Mar 2026	62.1	+4.1%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥11.4m

Change · 10 yrs +¥4.9m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	6.6	n/a	Cons.
FYE Mar 2018	6.9	+5.8%	Cons.
FYE Mar 2019	7.6	+10.1%	Cons.
FYE Mar 2020	7.2	−5.3%	Cons.
FYE Mar 2021	7.1	−2.0%	Cons.
FYE Mar 2022	9.4	+32.7%	Cons.
FYE Mar 2023	10.6	+13.2%	Cons.
FYE Mar 2024	10.9	+2.1%	Cons.
FYE Mar 2025	11.3	+4.3%	Cons.
FYE Mar 2026	11.4	+0.7%	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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