Financials

DIC Corporation: FYE Dec 2025 and ten years of results (49 metrics)

FYE Dec 2025 · Revenue¥1.05tnYoY −1.8%

FYE Dec 2025 · Operating profit¥52bnYoY +17.2%

FYE Dec 2025 · Net profit¥32bnYoY +51.8%

FYE Dec 2025 · Equity ratio37.0%YoY +4.2pp

FYE Dec 2025 · Group employees20,884YoY −300

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Dec 2016Consolidated	¥751bn	n/a	¥54bn	n/a	7.2%	¥35bn	Nakanishi Yoshiyuki	—
FYE Dec 2017Consolidated	¥789bn	+5.1%	¥56bn	+4.2%	7.2%	¥39bn	Nakanishi Yoshiyuki	—
FYE Dec 2018Consolidated	¥805bn	+2.0%	¥48bn	−14.3%	6.0%	¥32bn	Nakanishi Yoshiyuki	—
FYE Dec 2019Consolidated	¥769bn	−4.6%	¥41bn	−14.6%	5.4%	¥24bn	Ino Kaoru	—
FYE Dec 2020Consolidated	¥701bn	−8.8%	¥40bn	−4.0%	5.7%	¥13bn	Ino Kaoru	—
FYE Dec 2021Consolidated	¥855bn	+22.0%	¥43bn	+8.1%	5.0%	¥4.4bn	Ino Kaoru	BASF's Colors & Effects pigment business acquired
FYE Dec 2022Consolidated	¥1.05tn	+23.2%	¥40bn	−7.5%	3.8%	¥18bn	Ino Kaoru	—
FYE Dec 2023Consolidated	¥1.04tn	−1.5%	¥18bn	−54.8%	1.7%	-¥40bn	Ino Kaoru	—
FYE Dec 2024Consolidated	¥1.07tn	+3.1%	¥45bn	+148.1%	4.2%	¥21bn	Ino Kaoru	<a class="en-history_person" href="/tse/4631/executives/ceo/ikeda-takashi/" hreflang="ja">Ikeda Takashi</a> becomes president; the liquid-crystal business is closed
FYE Dec 2025Consolidated	¥1.05tn	−1.8%	¥52bn	+17.2%	5.0%	¥32bn	Ikeda Takashi	Shareholder proposal from OASIS INVESTMENTS II MASTER FUND and others

How it compares

Nippon Paint Holdings¥1.77tnFY2025Operating margin 14.5%

DIC Corporation¥1.05tnFY2025Operating margin 5.0%

Kansai Paint¥590bnFY2025Operating margin 8.4%

artience Co., Ltd.¥350bnFY2025Operating margin 5.9%

CHUGOKU MARINE PAINTS, LTD.¥139bnFY2025Operating margin 12.5%

SK Kaken¥110bnFY2025Operating margin 11.1%

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 Dec 2025 ¥1.05tn

CAGR · 10 yrs +3.8%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Dec 2016	751	n/a	Cons. · Japanese GAAP
FYE Dec 2017	789	+5.1%	Cons. · Japanese GAAP
FYE Dec 2018	805	+2.0%	Cons. · Japanese GAAP
FYE Dec 2019	769	−4.6%	Cons. · Japanese GAAP
FYE Dec 2020	701	−8.8%	Cons. · Japanese GAAP
FYE Dec 2021	855	+22.0%	Cons. · Japanese GAAP
FYE Dec 2022	1,054	+23.2%	Cons. · Japanese GAAP
FYE Dec 2023	1,039	−1.5%	Cons. · Japanese GAAP
FYE Dec 2024	1,071	+3.1%	Cons. · Japanese GAAP
FYE Dec 2025	1,052	−1.8%	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 Dec 2025 ¥824bn

CAGR · 10 yrs +4.1%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Dec 2016	572	n/a	Cons. · Japanese GAAP
FYE Dec 2017	606	+5.9%	Cons. · Japanese GAAP
FYE Dec 2018	630	+4.0%	Cons. · Japanese GAAP
FYE Dec 2019	603	−4.2%	Cons. · Japanese GAAP
FYE Dec 2020	544	−9.7%	Cons. · Japanese GAAP
FYE Dec 2021	678	+24.5%	Cons. · Japanese GAAP
FYE Dec 2022	855	+26.1%	Cons. · Japanese GAAP
FYE Dec 2023	852	−0.3%	Cons. · Japanese GAAP
FYE Dec 2024	849	−0.4%	Cons. · Japanese GAAP
FYE Dec 2025	824	−2.9%	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 Dec 2025 ¥228bn

CAGR · 10 yrs +2.7%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Dec 2016	180	n/a	Cons. · Japanese GAAP
FYE Dec 2017	184	+2.3%	Cons. · Japanese GAAP
FYE Dec 2018	176	−4.3%	Cons. · Japanese GAAP
FYE Dec 2019	165	−5.9%	Cons. · Japanese GAAP
FYE Dec 2020	157	−5.2%	Cons. · Japanese GAAP
FYE Dec 2021	177	+13.1%	Cons. · Japanese GAAP
FYE Dec 2022	199	+12.4%	Cons. · Japanese GAAP
FYE Dec 2023	186	−6.4%	Cons. · Japanese GAAP
FYE Dec 2024	222	+19.2%	Cons. · Japanese GAAP
FYE Dec 2025	228	+2.6%	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 Dec 2025 ¥176bn

CAGR · 10 yrs +3.8%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Dec 2016	125	n/a	Cons. · Japanese GAAP
FYE Dec 2017	127	+1.4%	Cons. · Japanese GAAP
FYE Dec 2018	127	+0.1%	Cons. · Japanese GAAP
FYE Dec 2019	124	−2.5%	Cons. · Japanese GAAP
FYE Dec 2020	117	−5.6%	Cons. · Japanese GAAP
FYE Dec 2021	134	+14.8%	Cons. · Japanese GAAP
FYE Dec 2022	160	+18.7%	Cons. · Japanese GAAP
FYE Dec 2023	168	+5.6%	Cons. · Japanese GAAP
FYE Dec 2024	178	+5.5%	Cons. · Japanese GAAP
FYE Dec 2025	176	−1.1%	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 Dec 2025 ¥52bn

CAGR · 10 yrs −0.4%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Dec 2016	54.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	56.5	+4.2%	Cons. · Japanese GAAP
FYE Dec 2018	48.4	−14.3%	Cons. · Japanese GAAP
FYE Dec 2019	41.3	−14.6%	Cons. · Japanese GAAP
FYE Dec 2020	39.7	−4.0%	Cons. · Japanese GAAP
FYE Dec 2021	42.9	+8.1%	Cons. · Japanese GAAP
FYE Dec 2022	39.7	−7.5%	Cons. · Japanese GAAP
FYE Dec 2023	17.9	−54.8%	Cons. · Japanese GAAP
FYE Dec 2024	44.5	+148.1%	Cons. · Japanese GAAP
FYE Dec 2025	52.2	+17.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Dec 2025 ¥8.6bn

CAGR · 10 yrs +2.2%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Dec 2016	7.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	8.4	+18.8%	Cons. · Japanese GAAP
FYE Dec 2018	9.7	+15.9%	Cons. · Japanese GAAP
FYE Dec 2019	7.0	−27.7%	Cons. · Japanese GAAP
FYE Dec 2020	4.5	−35.5%	Cons. · Japanese GAAP
FYE Dec 2021	6.8	+51.4%	Cons. · Japanese GAAP
FYE Dec 2022	7.8	+13.7%	Cons. · Japanese GAAP
FYE Dec 2023	11.0	+41.4%	Cons. · Japanese GAAP
FYE Dec 2024	9.0	−18.0%	Cons. · Japanese GAAP
FYE Dec 2025	8.6	−5.1%	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 Dec 2025 ¥16bn

CAGR · 10 yrs +13.2%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Dec 2016	5.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	7.9	+45.4%	Cons. · Japanese GAAP
FYE Dec 2018	9.4	+18.9%	Cons. · Japanese GAAP
FYE Dec 2019	7.0	−24.9%	Cons. · Japanese GAAP
FYE Dec 2020	7.7	+9.9%	Cons. · Japanese GAAP
FYE Dec 2021	6.0	−22.7%	Cons. · Japanese GAAP
FYE Dec 2022	7.5	+25.8%	Cons. · Japanese GAAP
FYE Dec 2023	19.7	+162.6%	Cons. · Japanese GAAP
FYE Dec 2024	15.6	−20.7%	Cons. · Japanese GAAP
FYE Dec 2025	16.5	+5.5%	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 Dec 2025 ¥44bn

CAGR · 10 yrs −2.5%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Dec 2016	55.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	57.0	+2.1%	Cons. · Japanese GAAP
FYE Dec 2018	48.7	−14.5%	Cons. · Japanese GAAP
FYE Dec 2019	41.3	−15.2%	Cons. · Japanese GAAP
FYE Dec 2020	36.5	−11.7%	Cons. · Japanese GAAP
FYE Dec 2021	43.8	+20.0%	Cons. · Japanese GAAP
FYE Dec 2022	39.9	−8.7%	Cons. · Japanese GAAP
FYE Dec 2023	9.2	−76.9%	Cons. · Japanese GAAP
FYE Dec 2024	37.9	+311.3%	Cons. · Japanese GAAP
FYE Dec 2025	44.3	+16.7%	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 Dec 2025 ¥15bn

CAGR · 10 yrs +36.0%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Dec 2016	0.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	2.1	+129.6%	Cons. · Japanese GAAP
FYE Dec 2018	4.6	+118.6%	Cons. · Japanese GAAP
FYE Dec 2019	4.4	−3.9%	Cons. · Japanese GAAP
FYE Dec 2020	7.1	+59.0%	Cons. · Japanese GAAP
FYE Dec 2021	1.3	−82.3%	Cons. · Japanese GAAP
FYE Dec 2022	2.8	+125.3%	Cons. · Japanese GAAP
FYE Dec 2023	4.9	+73.3%	Cons. · Japanese GAAP
FYE Dec 2024	12.4	+153.9%	Cons. · Japanese GAAP
FYE Dec 2025	14.7	+18.3%	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Dec 2025 ¥32bn

CAGR · 10 yrs −0.8%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Dec 2016	34.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	38.6	+11.0%	Cons. · Japanese GAAP
FYE Dec 2018	32.0	−17.0%	Cons. · Japanese GAAP
FYE Dec 2019	23.5	−26.6%	Cons. · Japanese GAAP
FYE Dec 2020	13.2	−43.7%	Cons. · Japanese GAAP
FYE Dec 2021	4.4	−67.0%	Cons. · Japanese GAAP
FYE Dec 2022	17.6	+303.4%	Cons. · Japanese GAAP
FYE Dec 2023	-39.9	−326.3%	Cons. · Japanese GAAP
FYE Dec 2024	21.3	n/a	Cons. · Japanese GAAP
FYE Dec 2025	32.4	+51.8%	Cons. · Japanese GAAP

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

Gross margin

FYE Dec 2025 21.7%

Average · 10 yrs 21.3%

Fiscal year	Gross margin %	YoY	Basis
FYE Dec 2016	23.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	23.3	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2018	21.8	−1.5pp	Cons. · Japanese GAAP
FYE Dec 2019	21.5	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2020	22.4	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2021	20.7	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2022	18.9	−1.8pp	Cons. · Japanese GAAP
FYE Dec 2023	17.9	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2024	20.7	+2.8pp	Cons. · Japanese GAAP
FYE Dec 2025	21.7	+0.9pp	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 Dec 2025 5.0%

Average · 10 yrs 5.1%

Fiscal year	Operating margin %	YoY	Basis
FYE Dec 2016	7.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	7.2	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2018	6.0	−1.1pp	Cons. · Japanese GAAP
FYE Dec 2019	5.4	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2020	5.7	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2021	5.0	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2022	3.8	−1.3pp	Cons. · Japanese GAAP
FYE Dec 2023	1.7	−2.0pp	Cons. · Japanese GAAP
FYE Dec 2024	4.2	+2.4pp	Cons. · Japanese GAAP
FYE Dec 2025	5.0	+0.8pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Dec 2025 4.2%

Average · 10 yrs 4.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Dec 2016	7.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	7.2	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2018	6.0	−1.2pp	Cons. · Japanese GAAP
FYE Dec 2019	5.4	−0.7pp	Cons. · Japanese GAAP
FYE Dec 2020	5.2	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2021	5.1	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2022	3.8	−1.3pp	Cons. · Japanese GAAP
FYE Dec 2023	0.9	−2.9pp	Cons. · Japanese GAAP
FYE Dec 2024	3.5	+2.7pp	Cons. · Japanese GAAP
FYE Dec 2025	4.2	+0.7pp	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 Dec 2025 3.1%

Average · 10 yrs 2.2%

Fiscal year	Net margin %	YoY	Basis
FYE Dec 2016	4.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.9	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2018	4.0	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2019	3.1	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2020	1.9	−1.2pp	Cons. · Japanese GAAP
FYE Dec 2021	0.5	−1.4pp	Cons. · Japanese GAAP
FYE Dec 2022	1.7	+1.2pp	Cons. · Japanese GAAP
FYE Dec 2023	-3.8	−5.5pp	Cons. · Japanese GAAP
FYE Dec 2024	2.0	+5.8pp	Cons. · Japanese GAAP
FYE Dec 2025	3.1	+1.1pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Dec 2025 78.3%

Average · 10 yrs 78.7%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Dec 2016	76.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	76.7	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2018	78.2	+1.5pp	Cons. · Japanese GAAP
FYE Dec 2019	78.5	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2020	77.6	−0.8pp	Cons. · Japanese GAAP
FYE Dec 2021	79.3	+1.6pp	Cons. · Japanese GAAP
FYE Dec 2022	81.1	+1.8pp	Cons. · Japanese GAAP
FYE Dec 2023	82.1	+1.0pp	Cons. · Japanese GAAP
FYE Dec 2024	79.3	−2.8pp	Cons. · Japanese GAAP
FYE Dec 2025	78.3	−0.9pp	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 Dec 2025 16.7%

Average · 10 yrs 16.2%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Dec 2016	16.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	16.1	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2018	15.8	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2019	16.1	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2020	16.7	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2021	15.7	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2022	15.1	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2023	16.2	+1.1pp	Cons. · Japanese GAAP
FYE Dec 2024	16.6	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2025	16.7	+0.1pp	Cons. · Japanese GAAP

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

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

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Dec 2025 ¥1.27tn

CAGR · 10 yrs +5.8%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Dec 2016	765	n/a	Cons. · Japanese GAAP
FYE Dec 2017	832	+8.8%	Cons. · Japanese GAAP
FYE Dec 2018	801	−3.7%	Cons. · Japanese GAAP
FYE Dec 2019	803	+0.2%	Cons. · Japanese GAAP
FYE Dec 2020	818	+1.9%	Cons. · Japanese GAAP
FYE Dec 2021	1,071	+31.0%	Cons. · Japanese GAAP
FYE Dec 2022	1,262	+17.7%	Cons. · Japanese GAAP
FYE Dec 2023	1,245	−1.3%	Cons. · Japanese GAAP
FYE Dec 2024	1,226	−1.5%	Cons. · Japanese GAAP
FYE Dec 2025	1,274	+3.9%	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 Dec 2025 ¥471bn

CAGR · 10 yrs +6.0%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Dec 2016	279	n/a	Cons. · Japanese GAAP
FYE Dec 2017	315	+13.1%	Cons. · Japanese GAAP
FYE Dec 2018	299	−5.2%	Cons. · Japanese GAAP
FYE Dec 2019	313	+4.6%	Cons. · Japanese GAAP
FYE Dec 2020	318	+1.8%	Cons. · Japanese GAAP
FYE Dec 2021	346	+8.6%	Cons. · Japanese GAAP
FYE Dec 2022	387	+11.9%	Cons. · Japanese GAAP
FYE Dec 2023	364	−6.0%	Cons. · Japanese GAAP
FYE Dec 2024	401	+10.3%	Cons. · Japanese GAAP
FYE Dec 2025	471	+17.3%	Cons. · Japanese GAAP

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

Interest-bearing debt

FYE Dec 2025 ¥206bn

CAGR · 10 yrs +2.6%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Dec 2016	163	n/a	Cons. · Japanese GAAP
FYE Dec 2017	183	+12.8%	Cons. · Japanese GAAP
FYE Dec 2018	150	−18.3%	Cons. · Japanese GAAP
FYE Dec 2019	143	−4.7%	Cons. · Japanese GAAP
FYE Dec 2020	134	−6.1%	Cons. · Japanese GAAP
FYE Dec 2021	182	+35.7%	Cons. · Japanese GAAP
FYE Dec 2022	286	+57.4%	Cons. · Japanese GAAP
FYE Dec 2023	321	+12.0%	Cons. · Japanese GAAP
FYE Dec 2024	304	−5.1%	Cons. · Japanese GAAP
FYE Dec 2025	206	−32.5%	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Dec 2025 ¥6.7bn

CAGR · 10 yrs −20.5%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	52.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	61.4	+16.4%	Cons. · Japanese GAAP
FYE Dec 2018	30.0	−51.2%	Cons. · Japanese GAAP
FYE Dec 2019	20.1	−32.8%	Cons. · Japanese GAAP
FYE Dec 2020	10.3	−49.0%	Cons. · Japanese GAAP
FYE Dec 2021	10.4	+1.6%	Cons. · Japanese GAAP
FYE Dec 2022	26.1	+149.7%	Cons. · Japanese GAAP
FYE Dec 2023	12.4	−52.4%	Cons. · Japanese GAAP
FYE Dec 2024	26.7	+115.5%	Cons. · Japanese GAAP
FYE Dec 2025	6.7	−75.1%	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 Dec 2025 ¥199bn

CAGR · 10 yrs +6.8%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	110	n/a	Cons. · Japanese GAAP
FYE Dec 2017	122	+11.0%	Cons. · Japanese GAAP
FYE Dec 2018	120	−1.8%	Cons. · Japanese GAAP
FYE Dec 2019	123	+2.3%	Cons. · Japanese GAAP
FYE Dec 2020	124	+0.9%	Cons. · Japanese GAAP
FYE Dec 2021	171	+38.5%	Cons. · Japanese GAAP
FYE Dec 2022	260	+51.8%	Cons. · Japanese GAAP
FYE Dec 2023	308	+18.4%	Cons. · Japanese GAAP
FYE Dec 2024	278	−9.9%	Cons. · Japanese GAAP
FYE Dec 2025	199	−28.4%	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 Dec 2025 ¥62bn

CAGR · 10 yrs +24.0%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Dec 2016	8.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	7.6	−15.2%	Cons. · Japanese GAAP
FYE Dec 2018	13.8	+81.7%	Cons. · Japanese GAAP
FYE Dec 2019	11.8	−14.4%	Cons. · Japanese GAAP
FYE Dec 2020	11.5	−2.5%	Cons. · Japanese GAAP
FYE Dec 2021	52.3	+354.4%	Cons. · Japanese GAAP
FYE Dec 2022	78.8	+50.6%	Cons. · Japanese GAAP
FYE Dec 2023	68.9	−12.5%	Cons. · Japanese GAAP
FYE Dec 2024	67.5	−2.1%	Cons. · Japanese GAAP
FYE Dec 2025	62.1	−7.9%	Cons. · Japanese GAAP

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

Goodwill

FYE Dec 2025 ¥17bn

CAGR · 10 yrs +48.1%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Dec 2016	0.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.2	−60.3%	Cons. · Japanese GAAP
FYE Dec 2018	0.0	−82.9%	Cons. · Japanese GAAP
FYE Dec 2019	0.8	+2141.2%	Cons. · Japanese GAAP
FYE Dec 2020	0.8	+7.5%	Cons. · Japanese GAAP
FYE Dec 2021	20.2	+2364.2%	Cons. · Japanese GAAP
FYE Dec 2022	33.6	+66.7%	Cons. · Japanese GAAP
FYE Dec 2023	17.8	−47.1%	Cons. · Japanese GAAP
FYE Dec 2024	17.4	−2.2%	Cons. · Japanese GAAP
FYE Dec 2025	17.1	−1.5%	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 Dec 2025 37.0%

Average · 10 yrs 35.1%

Fiscal year	Equity ratio %	YoY	Basis
FYE Dec 2016	36.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	37.9	+1.5pp	Cons. · Japanese GAAP
FYE Dec 2018	37.3	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2019	38.9	+1.6pp	Cons. · Japanese GAAP
FYE Dec 2020	38.9	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2021	32.3	−6.7pp	Cons. · Japanese GAAP
FYE Dec 2022	30.7	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2023	29.2	−1.4pp	Cons. · Japanese GAAP
FYE Dec 2024	32.7	+3.5pp	Cons. · Japanese GAAP
FYE Dec 2025	37.0	+4.2pp	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 Dec 2025 43.7%

Average · 10 yrs 58.9%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Dec 2016	58.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	58.2	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2018	50.1	−8.1pp	Cons. · Japanese GAAP
FYE Dec 2019	45.6	−4.5pp	Cons. · Japanese GAAP
FYE Dec 2020	42.1	−3.6pp	Cons. · Japanese GAAP
FYE Dec 2021	52.6	+10.5pp	Cons. · Japanese GAAP
FYE Dec 2022	74.0	+21.4pp	Cons. · Japanese GAAP
FYE Dec 2023	88.1	+14.1pp	Cons. · Japanese GAAP
FYE Dec 2024	75.8	−12.3pp	Cons. · Japanese GAAP
FYE Dec 2025	43.7	−32.2pp	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 Dec 2025 6.9%

Average · 10 yrs 5.4%

Fiscal year	ROE %	YoY	Basis
FYE Dec 2016	12.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	12.2	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2018	10.7	−1.5pp	Cons. · Japanese GAAP
FYE Dec 2019	7.5	−3.2pp	Cons. · Japanese GAAP
FYE Dec 2020	4.2	−3.4pp	Cons. · Japanese GAAP
FYE Dec 2021	1.3	−2.9pp	Cons. · Japanese GAAP
FYE Dec 2022	4.6	+3.3pp	Cons. · Japanese GAAP
FYE Dec 2023	-11.0	−15.5pp	Cons. · Japanese GAAP
FYE Dec 2024	5.3	+16.3pp	Cons. · Japanese GAAP
FYE Dec 2025	6.9	+1.6pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Dec 2025 2.5%

Average · 10 yrs 2.1%

Fiscal year	ROA %	YoY	Basis
FYE Dec 2016	4.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.6	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2018	4.0	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2019	2.9	−1.1pp	Cons. · Japanese GAAP
FYE Dec 2020	1.6	−1.3pp	Cons. · Japanese GAAP
FYE Dec 2021	0.4	−1.2pp	Cons. · Japanese GAAP
FYE Dec 2022	1.4	+1.0pp	Cons. · Japanese GAAP
FYE Dec 2023	-3.2	−4.6pp	Cons. · Japanese GAAP
FYE Dec 2024	1.7	+4.9pp	Cons. · Japanese GAAP
FYE Dec 2025	2.5	+0.8pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Dec 2025 0.83×

CAGR · 10 yrs −1.9%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Dec 2016	0.98	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.95	−3.4%	Cons. · Japanese GAAP
FYE Dec 2018	1.01	+5.9%	Cons. · Japanese GAAP
FYE Dec 2019	0.96	−4.8%	Cons. · Japanese GAAP
FYE Dec 2020	0.86	−10.4%	Cons. · Japanese GAAP
FYE Dec 2021	0.80	−6.9%	Cons. · Japanese GAAP
FYE Dec 2022	0.84	+4.7%	Cons. · Japanese GAAP
FYE Dec 2023	0.83	−0.1%	Cons. · Japanese GAAP
FYE Dec 2024	0.87	+4.7%	Cons. · Japanese GAAP
FYE Dec 2025	0.83	−5.4%	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 Dec 2025 ¥73bn

CAGR · 10 yrs +1.7%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Dec 2016	62.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	54.2	−13.3%	Cons. · Japanese GAAP
FYE Dec 2018	51.0	−5.9%	Cons. · Japanese GAAP
FYE Dec 2019	50.6	−0.7%	Cons. · Japanese GAAP
FYE Dec 2020	54.5	+7.6%	Cons. · Japanese GAAP
FYE Dec 2021	44.8	−17.7%	Cons. · Japanese GAAP
FYE Dec 2022	7.9	−82.3%	Cons. · Japanese GAAP
FYE Dec 2023	89.1	+1022.8%	Cons. · Japanese GAAP
FYE Dec 2024	46.2	−48.1%	Cons. · Japanese GAAP
FYE Dec 2025	73.0	+57.9%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Dec 2025 -¥21bn

Average · 10 yrs -¥51bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-32.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-58.9	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-38.4	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-24.9	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-33.0	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-148	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-73.2	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-66.5	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-17.1	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-20.6	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 Dec 2025 -¥45bn

Average · 10 yrs ¥2.5bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-26.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	11.4	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-11.8	−203.6%	Cons. · Japanese GAAP
FYE Dec 2019	-26.8	n/a	Cons. · Japanese GAAP
FYE Dec 2020	6.3	n/a	Cons. · Japanese GAAP
FYE Dec 2021	99.5	+1470.7%	Cons. · Japanese GAAP
FYE Dec 2022	83.9	−15.7%	Cons. · Japanese GAAP
FYE Dec 2023	-2.9	−103.5%	Cons. · Japanese GAAP
FYE Dec 2024	-62.6	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-45.4	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 Dec 2025 ¥67bn

CAGR · 10 yrs +16.8%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Dec 2016	16.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	17.7	+5.9%	Cons. · Japanese GAAP
FYE Dec 2018	18.6	+5.6%	Cons. · Japanese GAAP
FYE Dec 2019	16.7	−10.4%	Cons. · Japanese GAAP
FYE Dec 2020	41.4	+147.8%	Cons. · Japanese GAAP
FYE Dec 2021	37.6	−9.1%	Cons. · Japanese GAAP
FYE Dec 2022	62.6	+66.5%	Cons. · Japanese GAAP
FYE Dec 2023	84.6	+35.3%	Cons. · Japanese GAAP
FYE Dec 2024	60.9	−28.0%	Cons. · Japanese GAAP
FYE Dec 2025	67.3	+10.5%	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 Dec 2025 ¥52bn

CAGR · 10 yrs +6.3%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Dec 2016	30.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-4.7	−115.6%	Cons. · Japanese GAAP
FYE Dec 2018	12.6	n/a	Cons. · Japanese GAAP
FYE Dec 2019	25.8	+104.4%	Cons. · Japanese GAAP
FYE Dec 2020	21.4	−16.8%	Cons. · Japanese GAAP
FYE Dec 2021	-103	−579.8%	Cons. · Japanese GAAP
FYE Dec 2022	-65.2	n/a	Cons. · Japanese GAAP
FYE Dec 2023	22.6	n/a	Cons. · Japanese GAAP
FYE Dec 2024	29.1	+28.7%	Cons. · Japanese GAAP
FYE Dec 2025	52.4	+79.9%	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 Dec 2025 6.9%

Average · 10 yrs 6.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Dec 2016	8.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	6.9	−1.5pp	Cons. · Japanese GAAP
FYE Dec 2018	6.3	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2019	6.6	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2020	7.8	+1.2pp	Cons. · Japanese GAAP
FYE Dec 2021	5.2	−2.5pp	Cons. · Japanese GAAP
FYE Dec 2022	0.8	−4.5pp	Cons. · Japanese GAAP
FYE Dec 2023	8.6	+7.8pp	Cons. · Japanese GAAP
FYE Dec 2024	4.3	−4.3pp	Cons. · Japanese GAAP
FYE Dec 2025	6.9	+2.6pp	Cons. · Japanese GAAP

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

Net cash

FYE Dec 2025 -¥138bn

Average · 10 yrs -¥165bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Dec 2016	-146	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-166	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-131	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-126	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-92.7	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-144	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-224	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-236	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-243	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-138	n/a	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Dec 2025 ¥348bn

Change · 9 yrs +¥9.4bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Dec 2016	338	n/a
FYE Dec 2017	407	n/a
FYE Dec 2018	322	n/a
FYE Dec 2019	288	n/a
FYE Dec 2020	247	n/a
FYE Dec 2021	276	n/a
FYE Dec 2022	221	n/a
FYE Dec 2023	n/a	n/a
FYE Dec 2024	321	n/a
FYE Dec 2025	348	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 Dec 2025 3,656¥

Change · 9 yrs +99¥

Fiscal year	Share price ¥	Basis
FYE Dec 2016	3,557	n/a
FYE Dec 2017	4,279	n/a
FYE Dec 2018	3,384	n/a
FYE Dec 2019	3,029	n/a
FYE Dec 2020	2,600	n/a
FYE Dec 2021	2,896	n/a
FYE Dec 2022	2,326	n/a
FYE Dec 2023	n/a	n/a
FYE Dec 2024	3,377	n/a
FYE Dec 2025	3,656	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 Dec 2025 95,157,000shares

Change · 10 yrs −0 shares

Fiscal year	Shares outstanding shares	Basis
FYE Dec 2016	95,157,000	Parent
FYE Dec 2017	95,157,000	Parent
FYE Dec 2018	95,157,000	Parent
FYE Dec 2019	95,157,000	Parent
FYE Dec 2020	95,157,000	Parent
FYE Dec 2021	95,157,000	Parent
FYE Dec 2022	95,157,000	Parent
FYE Dec 2023	95,157,000	Parent
FYE Dec 2024	95,157,000	Parent
FYE Dec 2025	95,157,000	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 Dec 2025 341.71¥

Change · 10 yrs −25.01¥

Fiscal year	EPS ¥	Basis
FYE Dec 2016	366.72	Cons.
FYE Dec 2017	407.56	Cons.
FYE Dec 2018	338.40	Cons.
FYE Dec 2019	248.29	Cons.
FYE Dec 2020	139.81	Cons.
FYE Dec 2021	46.12	Cons.
FYE Dec 2022	186.05	Cons.
FYE Dec 2023	-421.06	Cons.
FYE Dec 2024	225.11	Cons.
FYE Dec 2025	341.71	Cons.

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

BPS book value per share

FYE Dec 2025 4,948.46¥

Change · 10 yrs +2,021.35¥

Fiscal year	BPS ¥	Basis
FYE Dec 2016	2,927.11	Cons. · Japanese GAAP
FYE Dec 2017	3,311.67	Cons. · Japanese GAAP
FYE Dec 2018	3,141.08	Cons. · Japanese GAAP
FYE Dec 2019	3,286.57	Cons. · Japanese GAAP
FYE Dec 2020	3,347.01	Cons. · Japanese GAAP
FYE Dec 2021	3,635.33	Cons. · Japanese GAAP
FYE Dec 2022	4,066.93	Cons. · Japanese GAAP
FYE Dec 2023	3,824.60	Cons. · Japanese GAAP
FYE Dec 2024	4,218.51	Cons. · Japanese GAAP
FYE Dec 2025	4,948.46	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Dec 2025 10.70×

Average · 9 yrs 18.00×

Fiscal year	PER ×	Basis
FYE Dec 2016	9.70	Cons.
FYE Dec 2017	10.50	Cons.
FYE Dec 2018	10.00	Cons.
FYE Dec 2019	12.20	Cons.
FYE Dec 2020	18.60	Cons.
FYE Dec 2021	62.80	Cons.
FYE Dec 2022	12.50	Cons.
FYE Dec 2023	n/a	Cons.
FYE Dec 2024	15.00	Cons.
FYE Dec 2025	10.70	Cons.

Definition: How many years of earnings the price stands for
Formula: Year-end price ÷ EPS
Source: Securities report (XBRL)

PBR price-to-book ratio

FYE Dec 2025 0.74×

Average · 9 yrs 0.91×

Fiscal year	PBR ×	Basis
FYE Dec 2016	1.21	Cons.
FYE Dec 2017	1.29	Cons.
FYE Dec 2018	1.07	Cons.
FYE Dec 2019	0.92	Cons.
FYE Dec 2020	0.77	Cons.
FYE Dec 2021	0.79	Cons.
FYE Dec 2022	0.57	Cons.
FYE Dec 2023	n/a	Cons.
FYE Dec 2024	0.80	Cons.
FYE Dec 2025	0.74	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 Dec 2025 20,884people

Change · 10 yrs +403 people

Fiscal year	Group employees people	YoY	Basis
FYE Dec 2016	20,481	n/a	Cons.
FYE Dec 2017	20,628	+0.7%	Cons.
FYE Dec 2018	20,620	−0.0%	Cons.
FYE Dec 2019	20,513	−0.5%	Cons.
FYE Dec 2020	20,242	−1.3%	Cons.
FYE Dec 2021	22,474	+11.0%	Cons.
FYE Dec 2022	22,743	+1.2%	Cons.
FYE Dec 2023	22,255	−2.1%	Cons.
FYE Dec 2024	21,184	−4.8%	Cons.
FYE Dec 2025	20,884	−1.4%	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 Dec 2025 3,880people

Change · 10 yrs +370 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Dec 2016	3,510	n/a	Parent
FYE Dec 2017	3,503	−0.2%	Parent
FYE Dec 2018	3,538	+1.0%	Parent
FYE Dec 2019	3,593	+1.6%	Parent
FYE Dec 2020	3,662	+1.9%	Parent
FYE Dec 2021	3,681	+0.5%	Parent
FYE Dec 2022	3,744	+1.7%	Parent
FYE Dec 2023	3,973	+6.1%	Parent
FYE Dec 2024	3,947	−0.7%	Parent
FYE Dec 2025	3,880	−1.7%	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 Dec 2025 ¥8.0m

Change · 7 yrs +¥0.3m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	7.7	n/a	Parent
FYE Dec 2020	7.4	−3.4%	Parent
FYE Dec 2021	7.6	+2.4%	Parent
FYE Dec 2022	7.6	−0.2%	Parent
FYE Dec 2023	7.5	−0.6%	Parent
FYE Dec 2024	7.6	+0.7%	Parent
FYE Dec 2025	8.0	+5.2%	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 Dec 2025 44.3years

Change · 7 yrs +0.9 years

Fiscal year	Average age years	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	43.4	n/a	Parent
FYE Dec 2020	43.6	+0.5%	Parent
FYE Dec 2021	43.9	+0.7%	Parent
FYE Dec 2022	44.1	+0.5%	Parent
FYE Dec 2023	44.7	+1.4%	Parent
FYE Dec 2024	43.8	−2.0%	Parent
FYE Dec 2025	44.3	+1.1%	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 Dec 2025 18.3years

Change · 7 yrs −0.6 years

Fiscal year	Average length of service years	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	18.9	n/a	Parent
FYE Dec 2020	19.0	+0.5%	Parent
FYE Dec 2021	19.1	+0.5%	Parent
FYE Dec 2022	18.9	−1.0%	Parent
FYE Dec 2023	19.5	+3.2%	Parent
FYE Dec 2024	18.0	−7.7%	Parent
FYE Dec 2025	18.3	+1.7%	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 Dec 2025 ¥50.4m

Change · 10 yrs +¥13.7m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Dec 2016	36.7	n/a	Cons.
FYE Dec 2017	38.3	+4.3%	Cons.
FYE Dec 2018	39.1	+2.1%	Cons.
FYE Dec 2019	37.5	−4.1%	Cons.
FYE Dec 2020	34.6	−7.5%	Cons.
FYE Dec 2021	38.1	+9.9%	Cons.
FYE Dec 2022	46.4	+21.8%	Cons.
FYE Dec 2023	46.7	+0.7%	Cons.
FYE Dec 2024	50.6	+8.3%	Cons.
FYE Dec 2025	50.4	−0.4%	Cons.

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

Operating profit per employee

FYE Dec 2025 ¥2.5m

Change · 10 yrs −¥0.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Dec 2016	2.6	n/a	Cons.
FYE Dec 2017	2.7	+3.5%	Cons.
FYE Dec 2018	2.3	−14.3%	Cons.
FYE Dec 2019	2.0	−14.1%	Cons.
FYE Dec 2020	2.0	−2.8%	Cons.
FYE Dec 2021	1.9	−2.6%	Cons.
FYE Dec 2022	1.7	−8.6%	Cons.
FYE Dec 2023	0.8	−53.8%	Cons.
FYE Dec 2024	2.1	+160.7%	Cons.
FYE Dec 2025	2.5	+18.9%	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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