Financials

Tsumura: FYE Mar 2026 and ten years of results (51 metrics)

FYE Mar 2026 · Revenue¥193bnYoY +6.4%

FYE Mar 2026 · Operating profit¥35bnYoY −12.2%

FYE Mar 2026 · Net profit¥28bnYoY −13.3%

FYE Mar 2026 · Equity ratio54.3%YoY −10.4pp

FYE Mar 2026 · Group employees4,923YoY +651

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥115bn	n/a	¥16bn	n/a	13.9%	¥12bn	Kato Terukazu	—
FYE Mar 2018Consolidated	¥118bn	+2.5%	¥17bn	+6.7%	14.5%	¥15bn	Kato Terukazu	Capital alliance with Ping An Insurance
FYE Mar 2019Consolidated	¥121bn	+2.6%	¥19bn	+8.6%	15.3%	¥15bn	Kato Terukazu	—
FYE Mar 2020Consolidated	¥123bn	+1.9%	¥19bn	+1.9%	15.3%	¥14bn	Kato Terukazu	—
FYE Mar 2021Consolidated	¥116bn	−5.5%	¥19bn	+2.7%	16.6%	¥15bn	Kato Terukazu	—
FYE Mar 2022Consolidated	¥130bn	+11.3%	¥22bn	+15.4%	17.3%	¥19bn	Kato Terukazu	—
FYE Mar 2023Consolidated	¥140bn	+8.1%	¥21bn	−6.5%	14.9%	¥16bn	Kato Terukazu	—
FYE Mar 2024Consolidated	¥151bn	+7.7%	¥20bn	−4.3%	13.3%	¥17bn	Kato Terukazu	Ping An Tsumura buys a 1918-founded TCM maker
FYE Mar 2025Consolidated	¥181bn	+20.1%	¥40bn	+100.5%	22.2%	¥32bn	Kato Terukazu	66 formulations repriced upward
FYE Mar 2026Consolidated	¥193bn	+6.4%	¥35bn	−12.2%	18.3%	¥28bn	Kato Terukazu	Record profit; second medium-term plan begins

How it compares

Ono Pharmaceutical¥516bnFY2025Operating margin 17.9%Santen Pharmaceutical¥292bnFY2025Operating margin 16.4%

Sawai Group Holdings¥202bnFY2025Operating margin 7.9%

Tsumura¥193bnFY2025Operating margin 18.3%

Nippon Shinyaku¥171bnFY2025Operating margin 20.8%Hisamitsu PharmaceuticalDelisted 2026

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 ¥193bn

CAGR · 10 yrs +5.9%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	115	n/a	Cons. · Japanese GAAP
FYE Mar 2018	118	+2.5%	Cons. · Japanese GAAP
FYE Mar 2019	121	+2.6%	Cons. · Japanese GAAP
FYE Mar 2020	123	+1.9%	Cons. · Japanese GAAP
FYE Mar 2021	116	−5.5%	Cons. · Japanese GAAP
FYE Mar 2022	130	+11.3%	Cons. · Japanese GAAP
FYE Mar 2023	140	+8.1%	Cons. · Japanese GAAP
FYE Mar 2024	151	+7.7%	Cons. · Japanese GAAP
FYE Mar 2025	181	+20.1%	Cons. · Japanese GAAP
FYE Mar 2026	193	+6.4%	Cons. · Japanese GAAP

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

Cost of sales

FYE Mar 2026 ¥101bn

CAGR · 10 yrs +8.3%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	49.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	49.6	+0.3%	Cons. · Japanese GAAP
FYE Mar 2019	49.5	−0.3%	Cons. · Japanese GAAP
FYE Mar 2020	50.7	+2.6%	Cons. · Japanese GAAP
FYE Mar 2021	55.9	+10.2%	Cons. · Japanese GAAP
FYE Mar 2022	63.1	+12.7%	Cons. · Japanese GAAP
FYE Mar 2023	71.8	+13.8%	Cons. · Japanese GAAP
FYE Mar 2024	82.0	+14.3%	Cons. · Japanese GAAP
FYE Mar 2025	90.5	+10.3%	Cons. · Japanese GAAP
FYE Mar 2026	101	+11.7%	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 ¥92bn

CAGR · 10 yrs +3.8%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	65.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	68.3	+4.2%	Cons. · Japanese GAAP
FYE Mar 2019	71.5	+4.7%	Cons. · Japanese GAAP
FYE Mar 2020	72.5	+1.5%	Cons. · Japanese GAAP
FYE Mar 2021	60.5	−16.6%	Cons. · Japanese GAAP
FYE Mar 2022	66.5	+9.9%	Cons. · Japanese GAAP
FYE Mar 2023	68.3	+2.7%	Cons. · Japanese GAAP
FYE Mar 2024	68.8	+0.8%	Cons. · Japanese GAAP
FYE Mar 2025	90.6	+31.6%	Cons. · Japanese GAAP
FYE Mar 2026	91.5	+1.0%	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 ¥56bn

CAGR · 10 yrs +1.4%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	49.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	51.2	+3.4%	Cons. · Japanese GAAP
FYE Mar 2019	52.9	+3.3%	Cons. · Japanese GAAP
FYE Mar 2020	53.6	+1.3%	Cons. · Japanese GAAP
FYE Mar 2021	41.1	−23.4%	Cons. · Japanese GAAP
FYE Mar 2022	44.1	+7.3%	Cons. · Japanese GAAP
FYE Mar 2023	47.4	+7.4%	Cons. · Japanese GAAP
FYE Mar 2024	48.8	+3.0%	Cons. · Japanese GAAP
FYE Mar 2025	50.5	+3.4%	Cons. · Japanese GAAP
FYE Mar 2026	56.3	+11.6%	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 ¥35bn

CAGR · 10 yrs +9.2%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	16.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.1	+6.7%	Cons. · Japanese GAAP
FYE Mar 2019	18.5	+8.6%	Cons. · Japanese GAAP
FYE Mar 2020	18.9	+1.9%	Cons. · Japanese GAAP
FYE Mar 2021	19.4	+2.7%	Cons. · Japanese GAAP
FYE Mar 2022	22.4	+15.4%	Cons. · Japanese GAAP
FYE Mar 2023	20.9	−6.5%	Cons. · Japanese GAAP
FYE Mar 2024	20.0	−4.3%	Cons. · Japanese GAAP
FYE Mar 2025	40.1	+100.5%	Cons. · Japanese GAAP
FYE Mar 2026	35.2	−12.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥7.3bn

CAGR · 10 yrs +25.3%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.4	+42.5%	Cons. · Japanese GAAP
FYE Mar 2019	1.4	+3.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.3	−6.7%	Cons. · Japanese GAAP
FYE Mar 2021	1.8	+35.9%	Cons. · Japanese GAAP
FYE Mar 2022	3.7	+107.9%	Cons. · Japanese GAAP
FYE Mar 2023	2.9	−21.3%	Cons. · Japanese GAAP
FYE Mar 2024	3.9	+30.7%	Cons. · Japanese GAAP
FYE Mar 2025	3.1	−20.4%	Cons. · Japanese GAAP
FYE Mar 2026	7.3	+138.4%	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 ¥2.5bn

CAGR · 10 yrs +18.4%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.5	−7.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.2	−53.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.6	+131.9%	Cons. · Japanese GAAP
FYE Mar 2021	0.3	−42.4%	Cons. · Japanese GAAP
FYE Mar 2022	0.2	−31.4%	Cons. · Japanese GAAP
FYE Mar 2023	0.4	+89.0%	Cons. · Japanese GAAP
FYE Mar 2024	0.4	−8.3%	Cons. · Japanese GAAP
FYE Mar 2025	0.7	+97.4%	Cons. · Japanese GAAP
FYE Mar 2026	2.5	+234.7%	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 ¥40bn

CAGR · 10 yrs +10.4%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	16.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.9	+9.2%	Cons. · Japanese GAAP
FYE Mar 2019	19.7	+10.0%	Cons. · Japanese GAAP
FYE Mar 2020	19.6	−0.3%	Cons. · Japanese GAAP
FYE Mar 2021	20.9	+6.2%	Cons. · Japanese GAAP
FYE Mar 2022	25.9	+24.1%	Cons. · Japanese GAAP
FYE Mar 2023	23.5	−9.5%	Cons. · Japanese GAAP
FYE Mar 2024	23.5	+0.2%	Cons. · Japanese GAAP
FYE Mar 2025	42.4	+80.7%	Cons. · Japanese GAAP
FYE Mar 2026	40.0	−5.7%	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 ¥2.2bn

CAGR · 10 yrs +10.7%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.5	+186.4%	Cons. · Japanese GAAP
FYE Mar 2019	0.3	−87.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.3	+5.8%	Cons. · Japanese GAAP
FYE Mar 2021	0.0	−98.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.1	+2700.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.5	+235.0%	Cons. · Japanese GAAP
FYE Mar 2024	0.5	−1.5%	Cons. · Japanese GAAP
FYE Mar 2025	3.2	+603.0%	Cons. · Japanese GAAP
FYE Mar 2026	2.2	−32.5%	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 ¥1.2bn

CAGR · 9 yrs +37.8%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2017	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.1	+52.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−7.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.8	+492.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.4	−46.2%	Cons. · Japanese GAAP
FYE Mar 2022	0.5	+16.2%	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2025	0.1	−38.1%	Cons. · Japanese GAAP
FYE Mar 2026	1.2	+784.4%	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 +9.4%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	12.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.5	+16.1%	Cons. · Japanese GAAP
FYE Mar 2019	14.6	+0.6%	Cons. · Japanese GAAP
FYE Mar 2020	13.8	−5.7%	Cons. · Japanese GAAP
FYE Mar 2021	15.3	+11.4%	Cons. · Japanese GAAP
FYE Mar 2022	18.8	+22.9%	Cons. · Japanese GAAP
FYE Mar 2023	16.5	−12.5%	Cons. · Japanese GAAP
FYE Mar 2024	16.7	+1.4%	Cons. · Japanese GAAP
FYE Mar 2025	32.4	+94.1%	Cons. · Japanese GAAP
FYE Mar 2026	28.1	−13.3%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 47.5%

Average · 10 yrs 52.8%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	57.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	57.9	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	59.1	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	58.8	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	51.9	−6.9pp	Cons. · Japanese GAAP
FYE Mar 2022	51.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	48.8	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2024	45.6	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2025	50.0	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2026	47.5	−2.5pp	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 18.3%

Average · 10 yrs 16.2%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	13.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.5	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	15.3	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	15.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	16.6	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	17.3	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	14.9	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2024	13.3	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	22.2	+8.9pp	Cons. · Japanese GAAP
FYE Mar 2026	18.3	−3.9pp	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 20.8%

Average · 10 yrs 17.6%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	14.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	16.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2020	15.9	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	17.9	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2022	20.0	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2023	16.7	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2024	15.6	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2025	23.4	+7.9pp	Cons. · Japanese GAAP
FYE Mar 2026	20.8	−2.7pp	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 14.6%

Average · 10 yrs 12.9%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	10.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.3	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	12.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	11.2	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	13.2	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2022	14.5	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	11.8	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2024	11.1	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	17.9	+6.8pp	Cons. · Japanese GAAP
FYE Mar 2026	14.6	−3.3pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 52.5%

Average · 10 yrs 47.2%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	43.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	42.1	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	40.9	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	41.2	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	48.1	+6.9pp	Cons. · Japanese GAAP
FYE Mar 2022	48.7	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	51.2	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2024	54.4	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2025	50.0	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2026	52.5	+2.5pp	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 29.2%

Average · 10 yrs 36.6%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	43.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	43.5	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	43.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	43.5	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	35.3	−8.2pp	Cons. · Japanese GAAP
FYE Mar 2022	34.0	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2023	33.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	32.4	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	27.9	−4.5pp	Cons. · Japanese GAAP
FYE Mar 2026	29.2	+1.4pp	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 ¥593bn

CAGR · 10 yrs +11.5%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	222	n/a	Cons. · Japanese GAAP
FYE Mar 2018	292	+31.7%	Cons. · Japanese GAAP
FYE Mar 2019	287	−1.7%	Cons. · Japanese GAAP
FYE Mar 2020	312	+8.6%	Cons. · Japanese GAAP
FYE Mar 2021	319	+2.3%	Cons. · Japanese GAAP
FYE Mar 2022	351	+10.0%	Cons. · Japanese GAAP
FYE Mar 2023	397	+13.1%	Cons. · Japanese GAAP
FYE Mar 2024	428	+7.9%	Cons. · Japanese GAAP
FYE Mar 2025	464	+8.4%	Cons. · Japanese GAAP
FYE Mar 2026	593	+27.6%	Cons. · Japanese GAAP

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

Equity net assets, shareholders' equity

FYE Mar 2026 ¥322bn

CAGR · 10 yrs +8.5%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	155	n/a	Cons. · Japanese GAAP
FYE Mar 2018	194	+25.1%	Cons. · Japanese GAAP
FYE Mar 2019	202	+4.2%	Cons. · Japanese GAAP
FYE Mar 2020	205	+1.8%	Cons. · Japanese GAAP
FYE Mar 2021	218	+6.0%	Cons. · Japanese GAAP
FYE Mar 2022	240	+10.1%	Cons. · Japanese GAAP
FYE Mar 2023	252	+5.1%	Cons. · Japanese GAAP
FYE Mar 2024	271	+7.4%	Cons. · Japanese GAAP
FYE Mar 2025	301	+11.0%	Cons. · Japanese GAAP
FYE Mar 2026	322	+7.1%	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 ¥81bn

CAGR · 10 yrs +9.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	37.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.7	−46.7%	Cons. · Japanese GAAP
FYE Mar 2019	19.7	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	35.3	+79.1%	Cons. · Japanese GAAP
FYE Mar 2021	40.5	+14.8%	Cons. · Japanese GAAP
FYE Mar 2022	19.7	−51.3%	Cons. · Japanese GAAP
FYE Mar 2023	19.7	−0.0%	Cons. · Japanese GAAP
FYE Mar 2024	19.7	−0.0%	Cons. · Japanese GAAP
FYE Mar 2025	25.3	+28.7%	Cons. · Japanese GAAP
FYE Mar 2026	80.8	+218.8%	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 ¥3.3bn

CAGR · 10 yrs −13.7%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	12.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.3	−18.0%	Cons. · Japanese GAAP
FYE Mar 2019	10.3	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	22.9	+121.8%	Cons. · Japanese GAAP
FYE Mar 2021	10.5	−54.2%	Cons. · Japanese GAAP
FYE Mar 2022	10.3	−1.5%	Cons. · Japanese GAAP
FYE Mar 2023	10.3	−0.0%	Cons. · Japanese GAAP
FYE Mar 2024	10.3	−0.0%	Cons. · Japanese GAAP
FYE Mar 2025	5.3	−48.8%	Cons. · Japanese GAAP
FYE Mar 2026	3.3	−37.0%	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 ¥77bn

CAGR · 10 yrs +13.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	24.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.4	−61.5%	Cons. · Japanese GAAP
FYE Mar 2019	9.4	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	12.4	+32.2%	Cons. · Japanese GAAP
FYE Mar 2021	30.0	+142.1%	Cons. · Japanese GAAP
FYE Mar 2022	9.4	−68.7%	Cons. · Japanese GAAP
FYE Mar 2023	9.4	−0.0%	Cons. · Japanese GAAP
FYE Mar 2024	9.4	−0.0%	Cons. · Japanese GAAP
FYE Mar 2025	20.1	+113.8%	Cons. · Japanese GAAP
FYE Mar 2026	77.5	+286.3%	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 ¥50bn

CAGR · 10 yrs +79.1%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.5	+97.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.9	+65.8%	Cons. · Japanese GAAP
FYE Mar 2020	11.6	+1230.7%	Cons. · Japanese GAAP
FYE Mar 2021	11.4	−1.4%	Cons. · Japanese GAAP
FYE Mar 2022	12.3	+7.7%	Cons. · Japanese GAAP
FYE Mar 2023	14.6	+18.8%	Cons. · Japanese GAAP
FYE Mar 2024	17.3	+17.8%	Cons. · Japanese GAAP
FYE Mar 2025	18.2	+5.7%	Cons. · Japanese GAAP
FYE Mar 2026	50.4	+176.2%	Cons. · Japanese GAAP

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

Goodwill

FYE Mar 2026 ¥18bn

CAGR · 7 yrs +13.6%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	7.9	−4.1%	Cons. · Japanese GAAP
FYE Mar 2022	8.5	+8.0%	Cons. · Japanese GAAP
FYE Mar 2023	8.5	−0.4%	Cons. · Japanese GAAP
FYE Mar 2024	8.4	−1.5%	Cons. · Japanese GAAP
FYE Mar 2025	8.5	+1.9%	Cons. · Japanese GAAP
FYE Mar 2026	17.7	+107.5%	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 54.3%

Average · 10 yrs 65.4%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	69.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	66.2	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2019	70.2	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2020	65.8	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2021	68.3	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2022	68.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	63.5	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2024	63.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	64.7	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	54.3	−10.4pp	Cons. · Japanese GAAP

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

Debt-to-equity ratio D/E ratio

FYE Mar 2026 25.1%

Average · 10 yrs 13.6%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	23.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.2	−13.7pp	Cons. · Japanese GAAP
FYE Mar 2019	9.8	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	17.2	+7.4pp	Cons. · Japanese GAAP
FYE Mar 2021	18.6	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2022	8.2	−10.4pp	Cons. · Japanese GAAP
FYE Mar 2023	7.8	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	7.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	8.4	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	25.1	+16.7pp	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 8.7%

Average · 10 yrs 7.7%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	8.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.5	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	7.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	6.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	7.0	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	7.9	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	6.5	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2024	6.2	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	10.8	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2026	8.7	−2.1pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 4.7%

Average · 10 yrs 5.0%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.0	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	5.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	4.4	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	4.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	5.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	4.2	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2024	3.9	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	7.0	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2026	4.7	−2.2pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.32×

CAGR · 10 yrs −5.0%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.52	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.40	−22.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.42	+4.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.40	−6.1%	Cons. · Japanese GAAP
FYE Mar 2021	0.36	−7.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.37	+1.2%	Cons. · Japanese GAAP
FYE Mar 2023	0.35	−4.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.35	−0.2%	Cons. · Japanese GAAP
FYE Mar 2025	0.39	+10.7%	Cons. · Japanese GAAP
FYE Mar 2026	0.32	−16.7%	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 ¥25bn

CAGR · 10 yrs +1.8%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	21.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.1	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	5.5	−74.1%	Cons. · Japanese GAAP
FYE Mar 2020	18.2	+233.8%	Cons. · Japanese GAAP
FYE Mar 2021	16.1	−11.5%	Cons. · Japanese GAAP
FYE Mar 2022	21.3	+32.4%	Cons. · Japanese GAAP
FYE Mar 2023	16.5	−22.8%	Cons. · Japanese GAAP
FYE Mar 2024	5.6	−65.9%	Cons. · Japanese GAAP
FYE Mar 2025	33.8	+503.1%	Cons. · Japanese GAAP
FYE Mar 2026	24.7	−26.9%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Mar 2026 -¥50bn

Average · 10 yrs -¥19bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-6.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-23.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-7.7	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-23.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-9.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-15.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-19.4	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-25.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-50.3	n/a	Cons. · Japanese GAAP

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

Financing cash flow

FYE Mar 2026 ¥33bn

Average · 10 yrs ¥4.3bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-9.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-18.5	−136.8%	Cons. · Japanese GAAP
FYE Mar 2020	7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-10.4	−246.6%	Cons. · Japanese GAAP
FYE Mar 2022	-8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	24.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-4.4	−118.1%	Cons. · Japanese GAAP
FYE Mar 2025	-19.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	32.6	n/a	Cons. · Japanese GAAP

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

Cash and equivalents

FYE Mar 2026 ¥78bn

CAGR · 10 yrs +11.3%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	29.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	78.3	+161.9%	Cons. · Japanese GAAP
FYE Mar 2019	56.2	−28.2%	Cons. · Japanese GAAP
FYE Mar 2020	57.7	+2.6%	Cons. · Japanese GAAP
FYE Mar 2021	59.7	+3.4%	Cons. · Japanese GAAP
FYE Mar 2022	67.5	+13.2%	Cons. · Japanese GAAP
FYE Mar 2023	94.7	+40.3%	Cons. · Japanese GAAP
FYE Mar 2024	78.0	−17.6%	Cons. · Japanese GAAP
FYE Mar 2025	73.1	−6.3%	Cons. · Japanese GAAP
FYE Mar 2026	78.3	+7.0%	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 -¥26bn

Average · 10 yrs -¥0.4bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	14.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-2.3	−115.7%	Cons. · Japanese GAAP
FYE Mar 2019	-2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	8.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	12.2	+39.5%	Cons. · Japanese GAAP
FYE Mar 2023	1.0	−92.1%	Cons. · Japanese GAAP
FYE Mar 2024	-13.7	−1533.1%	Cons. · Japanese GAAP
FYE Mar 2025	8.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-25.6	−389.2%	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 12.8%

Average · 10 yrs 13.3%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	18.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	4.5	−13.4pp	Cons. · Japanese GAAP
FYE Mar 2020	14.8	+10.3pp	Cons. · Japanese GAAP
FYE Mar 2021	13.8	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2022	16.5	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2023	11.7	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2024	3.7	−8.0pp	Cons. · Japanese GAAP
FYE Mar 2025	18.7	+15.0pp	Cons. · Japanese GAAP
FYE Mar 2026	12.8	−5.8pp	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 -¥2.5bn

Average · 10 yrs ¥36bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	58.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	36.6	−37.6%	Cons. · Japanese GAAP
FYE Mar 2020	22.4	−38.7%	Cons. · Japanese GAAP
FYE Mar 2021	19.2	−14.4%	Cons. · Japanese GAAP
FYE Mar 2022	47.8	+149.2%	Cons. · Japanese GAAP
FYE Mar 2023	75.0	+56.8%	Cons. · Japanese GAAP
FYE Mar 2024	58.3	−22.2%	Cons. · Japanese GAAP
FYE Mar 2025	47.8	−18.1%	Cons. · Japanese GAAP
FYE Mar 2026	-2.5	−105.3%	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 ¥288bn

Change · 10 yrs +¥41bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	247	n/a
FYE Mar 2018	280	n/a
FYE Mar 2019	258	n/a
FYE Mar 2020	211	n/a
FYE Mar 2021	304	n/a
FYE Mar 2022	246	n/a
FYE Mar 2023	202	n/a
FYE Mar 2024	293	n/a
FYE Mar 2025	331	n/a
FYE Mar 2026	288	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 3,748¥

Change · 10 yrs +257¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	3,491	n/a
FYE Mar 2018	3,654	n/a
FYE Mar 2019	3,365	n/a
FYE Mar 2020	2,752	n/a
FYE Mar 2021	3,956	n/a
FYE Mar 2022	3,201	n/a
FYE Mar 2023	2,631	n/a
FYE Mar 2024	3,823	n/a
FYE Mar 2025	4,314	n/a
FYE Mar 2026	3,748	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 76,758,362shares

Change · 10 yrs +5,986,700 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	70,771,662	Parent
FYE Mar 2018	76,758,362	Parent
FYE Mar 2019	76,758,362	Parent
FYE Mar 2020	76,758,362	Parent
FYE Mar 2021	76,758,362	Parent
FYE Mar 2022	76,758,362	Parent
FYE Mar 2023	76,758,362	Parent
FYE Mar 2024	76,758,362	Parent
FYE Mar 2025	76,758,362	Parent
FYE Mar 2026	76,758,362	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 376.28¥

Change · 10 yrs +196.82¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	179.46	Cons.
FYE Mar 2018	200.55	Cons.
FYE Mar 2019	190.87	Cons.
FYE Mar 2020	179.96	Cons.
FYE Mar 2021	200.40	Cons.
FYE Mar 2022	246.21	Cons.
FYE Mar 2023	215.63	Cons.
FYE Mar 2024	219.83	Cons.
FYE Mar 2025	427.15	Cons.
FYE Mar 2026	376.28	Cons.

Definition: Net profit for each share
Formula: Net profit ÷ average shares outstanding
Source: Securities report (XBRL)

BPS book value per share

FYE Mar 2026 4,191.45¥

Change · 10 yrs +2,004.36¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	2,187.09	Cons. · Japanese GAAP
FYE Mar 2018	2,522.20	Cons. · Japanese GAAP
FYE Mar 2019	2,629.25	Cons. · Japanese GAAP
FYE Mar 2020	2,675.64	Cons. · Japanese GAAP
FYE Mar 2021	2,837.31	Cons. · Japanese GAAP
FYE Mar 2022	3,123.70	Cons. · Japanese GAAP
FYE Mar 2023	3,283.64	Cons. · Japanese GAAP
FYE Mar 2024	3,527.98	Cons. · Japanese GAAP
FYE Mar 2025	3,915.29	Cons. · Japanese GAAP
FYE Mar 2026	4,191.45	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 9.96×

Average · 10 yrs 15.30×

Fiscal year	PER ×	Basis
FYE Mar 2017	19.45	Cons.
FYE Mar 2018	18.22	Cons.
FYE Mar 2019	17.63	Cons.
FYE Mar 2020	15.29	Cons.
FYE Mar 2021	19.74	Cons.
FYE Mar 2022	13.00	Cons.
FYE Mar 2023	12.20	Cons.
FYE Mar 2024	17.39	Cons.
FYE Mar 2025	10.10	Cons.
FYE Mar 2026	9.96	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 0.87×

Average · 10 yrs 1.15×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.55	Cons.
FYE Mar 2018	1.44	Cons.
FYE Mar 2019	1.27	Cons.
FYE Mar 2020	1.03	Cons.
FYE Mar 2021	1.39	Cons.
FYE Mar 2022	1.02	Cons.
FYE Mar 2023	0.80	Cons.
FYE Mar 2024	1.07	Cons.
FYE Mar 2025	1.09	Cons.
FYE Mar 2026	0.87	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 4,923people

Change · 10 yrs +1,592 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	3,331	n/a	Cons.
FYE Mar 2018	3,453	+3.7%	Cons.
FYE Mar 2019	3,547	+2.7%	Cons.
FYE Mar 2020	3,840	+8.3%	Cons.
FYE Mar 2021	3,830	−0.3%	Cons.
FYE Mar 2022	3,921	+2.4%	Cons.
FYE Mar 2023	4,032	+2.8%	Cons.
FYE Mar 2024	4,138	+2.6%	Cons.
FYE Mar 2025	4,272	+3.2%	Cons.
FYE Mar 2026	4,923	+15.2%	Cons.

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

Parent-company employees

FYE Mar 2026 2,858people

Change · 10 yrs +481 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	2,377	n/a	Parent
FYE Mar 2018	2,434	+2.4%	Parent
FYE Mar 2019	2,493	+2.4%	Parent
FYE Mar 2020	2,534	+1.6%	Parent
FYE Mar 2021	2,556	+0.9%	Parent
FYE Mar 2022	2,564	+0.3%	Parent
FYE Mar 2023	2,631	+2.6%	Parent
FYE Mar 2024	2,711	+3.0%	Parent
FYE Mar 2025	2,765	+2.0%	Parent
FYE Mar 2026	2,858	+3.4%	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 ¥9.1m

Change · 8 yrs +¥1.0m

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	8.1	n/a	Parent
FYE Mar 2020	8.1	−0.1%	Parent
FYE Mar 2021	7.9	−2.5%	Parent
FYE Mar 2022	8.4	+5.8%	Parent
FYE Mar 2023	8.0	−3.9%	Parent
FYE Mar 2024	8.1	+0.5%	Parent
FYE Mar 2025	8.0	−1.5%	Parent
FYE Mar 2026	9.1	+14.6%	Parent

Definition: Average total annual compensation, bonuses included
Formula: Average annual pay, from the employee section of the filing
Source: Securities report (XBRL)

Average age

FYE Mar 2026 41.9years

Change · 8 yrs −1.8 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	43.7	n/a	Parent
FYE Mar 2020	43.7	−0.0%	Parent
FYE Mar 2021	43.6	−0.2%	Parent
FYE Mar 2022	43.6	−0.0%	Parent
FYE Mar 2023	43.1	−1.1%	Parent
FYE Mar 2024	43.0	−0.2%	Parent
FYE Mar 2025	42.6	−0.9%	Parent
FYE Mar 2026	41.9	−1.6%	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 15.5years

Change · 8 yrs −4.3 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	19.8	n/a	Parent
FYE Mar 2020	19.4	−2.0%	Parent
FYE Mar 2021	19.1	−1.5%	Parent
FYE Mar 2022	18.9	−1.0%	Parent
FYE Mar 2023	18.1	−4.2%	Parent
FYE Mar 2024	17.2	−5.0%	Parent
FYE Mar 2025	16.5	−4.1%	Parent
FYE Mar 2026	15.5	−6.1%	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 886people

Change · 10 yrs +194 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	692	n/a	n/a
FYE Mar 2018	662	−4.3%	n/a
FYE Mar 2019	667	+0.8%	n/a
FYE Mar 2020	1,234	+85.0%	n/a
FYE Mar 2021	789	−36.1%	n/a
FYE Mar 2022	767	−2.8%	n/a
FYE Mar 2023	704	−8.2%	n/a
FYE Mar 2024	744	+5.7%	n/a
FYE Mar 2025	742	−0.3%	n/a
FYE Mar 2026	886	+19.4%	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 ¥39.1m

Change · 10 yrs +¥4.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	34.5	n/a	Cons.
FYE Mar 2018	34.1	−1.1%	Cons.
FYE Mar 2019	34.1	−0.2%	Cons.
FYE Mar 2020	32.1	−5.8%	Cons.
FYE Mar 2021	30.4	−5.3%	Cons.
FYE Mar 2022	33.0	+8.7%	Cons.
FYE Mar 2023	34.7	+5.1%	Cons.
FYE Mar 2024	36.5	+5.0%	Cons.
FYE Mar 2025	42.4	+16.3%	Cons.
FYE Mar 2026	39.1	−7.7%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥7.2m

Change · 10 yrs +¥2.4m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	4.8	n/a	Cons.
FYE Mar 2018	4.9	+2.9%	Cons.
FYE Mar 2019	5.2	+5.7%	Cons.
FYE Mar 2020	4.9	−5.9%	Cons.
FYE Mar 2021	5.1	+2.9%	Cons.
FYE Mar 2022	5.7	+12.8%	Cons.
FYE Mar 2023	5.2	−9.1%	Cons.
FYE Mar 2024	4.8	−6.7%	Cons.
FYE Mar 2025	9.4	+94.2%	Cons.
FYE Mar 2026	7.2	−23.8%	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.

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Data API

Tsumura’s history, presidents and financials are published as static JSON — no key, plain GET. One API per public page, and one per section where a page carries several tables. Full specification →

/api/4540/company.json ·/api/4540/history.json ·/api/4540/ceo.json ·/api/4540/financials.json ·/api/4540/financials/segment.json ·/api/4540/financials/pl.json ·/api/4540/financials/cf.json ·/api/4540/financials/bs.json ·/api/4540/financials/employee.json ·/api/4540/financials/stock.json ·/api/4540/financials.csv ·/api/4540/financials_history.csv

/api/companies.json ·/api/decisions.json ·/api/api-manifest.json