Financials

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

FYE Mar 2026 · Revenue¥263bnYoY +5.5%

FYE Mar 2026 · Operating profit¥29bnYoY +10.6%

FYE Mar 2026 · Net profit¥21bnYoY +3.8%

FYE Mar 2026 · Equity ratio30.5%YoY +1.2pp

FYE Mar 2026 · Group employees9,477YoY +431

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥144bn	n/a	¥14bn	n/a	9.4%	¥11bn	Ito Katsuyasu	—
FYE Mar 2018Consolidated	¥165bn	+15.2%	¥18bn	+31.3%	10.7%	¥12bn	Ito Katsuyasu	—
FYE Mar 2019Consolidated	¥180bn	+8.5%	¥19bn	+6.4%	10.5%	¥12bn	Ito Katsuyasu	<a class="en-history_person" href="/tse/4681/executives/ceo/fushimi-yuki/" hreflang="ja">Fushimi Yuki</a> becomes president and COO
FYE Mar 2020Consolidated	¥159bn	−11.4%	¥12bn	−38.3%	7.3%	¥7.1bn	Fushimi Yuki	—
FYE Mar 2021Consolidated	¥168bn	+5.3%	¥15bn	+26.2%	8.8%	-¥10bn	Fushimi Yuki	Yokohama Bay Court Club opens mid-pandemic
FYE Mar 2022Consolidated	¥158bn	−5.8%	¥8.7bn	−40.9%	5.5%	¥5.8bn	Fushimi Yuki	—
FYE Mar 2023Consolidated	¥170bn	+7.6%	¥12bn	+41.1%	7.2%	¥17bn	Fushimi Yuki	Sells the six general-public Hotel Trusty properties
FYE Mar 2024Consolidated	¥202bn	+18.8%	¥21bn	+72.1%	10.5%	¥16bn	Fushimi Yuki	50th anniversary; <em>Sustainable Connect — To Wellbeing</em>
FYE Mar 2025Consolidated	¥249bn	+23.6%	¥26bn	+24.8%	10.6%	¥20bn	Fushimi Yuki	—
FYE Mar 2026Consolidated	¥263bn	+5.5%	¥29bn	+10.6%	11.1%	¥21bn	Fushimi Yuki	<em>To Wellbeing 2.0</em> five-year plan begins

How it compares

Oriental Land¥705bnFY2025Operating margin 23.9%

Kyoritsu Maintenance¥275bnFY2025Operating margin 9.0%

Resorttrust¥263bnFY2025Operating margin 11.1%

Round One¥190bnFY2025Operating margin 15.2%

Daiichikosho¥163bnFY2025Operating margin 11.0%

GENDA¥112bnFY2024Operating margin 7.1%

TOKYO DOME CORPORATIONDelisted 2021

Koshidakahorudingusu¥69bnFY2025Operating margin 16.4%

Toukyoutokeiba¥42bnFY2025Operating margin 36.9%

Joban Kosan Co.,Ltd.Delisted 2025

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 ¥263bn

CAGR · 10 yrs +7.0%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	144	n/a	Cons. · Japanese GAAP
FYE Mar 2018	165	+15.2%	Cons. · Japanese GAAP
FYE Mar 2019	180	+8.5%	Cons. · Japanese GAAP
FYE Mar 2020	159	−11.4%	Cons. · Japanese GAAP
FYE Mar 2021	168	+5.3%	Cons. · Japanese GAAP
FYE Mar 2022	158	−5.8%	Cons. · Japanese GAAP
FYE Mar 2023	170	+7.6%	Cons. · Japanese GAAP
FYE Mar 2024	202	+18.8%	Cons. · Japanese GAAP
FYE Mar 2025	249	+23.6%	Cons. · Japanese GAAP
FYE Mar 2026	263	+5.5%	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 ¥58bn

CAGR · 10 yrs +9.5%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	25.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.8	+30.6%	Cons. · Japanese GAAP
FYE Mar 2019	42.2	+24.8%	Cons. · Japanese GAAP
FYE Mar 2020	24.0	−43.1%	Cons. · Japanese GAAP
FYE Mar 2021	37.9	+57.6%	Cons. · Japanese GAAP
FYE Mar 2022	22.5	−40.7%	Cons. · Japanese GAAP
FYE Mar 2023	18.8	−16.2%	Cons. · Japanese GAAP
FYE Mar 2024	31.1	+65.3%	Cons. · Japanese GAAP
FYE Mar 2025	56.2	+80.7%	Cons. · Japanese GAAP
FYE Mar 2026	58.4	+3.9%	Cons. · Japanese GAAP

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

Gross profit

FYE Mar 2026 ¥205bn

CAGR · 10 yrs +6.3%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	118	n/a	Cons. · Japanese GAAP
FYE Mar 2018	132	+11.9%	Cons. · Japanese GAAP
FYE Mar 2019	137	+4.4%	Cons. · Japanese GAAP
FYE Mar 2020	135	−1.6%	Cons. · Japanese GAAP
FYE Mar 2021	130	−4.0%	Cons. · Japanese GAAP
FYE Mar 2022	135	+4.4%	Cons. · Japanese GAAP
FYE Mar 2023	151	+11.6%	Cons. · Japanese GAAP
FYE Mar 2024	171	+13.0%	Cons. · Japanese GAAP
FYE Mar 2025	193	+13.1%	Cons. · Japanese GAAP
FYE Mar 2026	205	+5.9%	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 ¥175bn

CAGR · 10 yrs +6.0%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	104	n/a	Cons. · Japanese GAAP
FYE Mar 2018	114	+9.3%	Cons. · Japanese GAAP
FYE Mar 2019	118	+4.1%	Cons. · Japanese GAAP
FYE Mar 2020	123	+4.2%	Cons. · Japanese GAAP
FYE Mar 2021	115	−6.9%	Cons. · Japanese GAAP
FYE Mar 2022	127	+10.1%	Cons. · Japanese GAAP
FYE Mar 2023	139	+9.6%	Cons. · Japanese GAAP
FYE Mar 2024	150	+7.8%	Cons. · Japanese GAAP
FYE Mar 2025	167	+11.5%	Cons. · Japanese GAAP
FYE Mar 2026	175	+5.2%	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 ¥29bn

CAGR · 10 yrs +8.9%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	13.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.7	+31.3%	Cons. · Japanese GAAP
FYE Mar 2019	18.9	+6.4%	Cons. · Japanese GAAP
FYE Mar 2020	11.7	−38.3%	Cons. · Japanese GAAP
FYE Mar 2021	14.7	+26.2%	Cons. · Japanese GAAP
FYE Mar 2022	8.7	−40.9%	Cons. · Japanese GAAP
FYE Mar 2023	12.3	+41.1%	Cons. · Japanese GAAP
FYE Mar 2024	21.1	+72.1%	Cons. · Japanese GAAP
FYE Mar 2025	26.4	+24.8%	Cons. · Japanese GAAP
FYE Mar 2026	29.2	+10.6%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥1.9bn

CAGR · 10 yrs −5.8%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.1	−2.3%	Cons. · Japanese GAAP
FYE Mar 2019	2.1	−30.9%	Cons. · Japanese GAAP
FYE Mar 2020	2.1	−2.9%	Cons. · Japanese GAAP
FYE Mar 2021	4.2	+99.7%	Cons. · Japanese GAAP
FYE Mar 2022	3.9	−5.5%	Cons. · Japanese GAAP
FYE Mar 2023	2.0	−48.5%	Cons. · Japanese GAAP
FYE Mar 2024	1.7	−15.0%	Cons. · Japanese GAAP
FYE Mar 2025	1.7	−0.1%	Cons. · Japanese GAAP
FYE Mar 2026	1.9	+8.0%	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 ¥1.7bn

CAGR · 10 yrs −0.9%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.4	−24.5%	Cons. · Japanese GAAP
FYE Mar 2019	1.5	+5.1%	Cons. · Japanese GAAP
FYE Mar 2020	1.3	−15.7%	Cons. · Japanese GAAP
FYE Mar 2021	1.2	−3.3%	Cons. · Japanese GAAP
FYE Mar 2022	1.5	+23.0%	Cons. · Japanese GAAP
FYE Mar 2023	1.0	−30.1%	Cons. · Japanese GAAP
FYE Mar 2024	1.0	−1.4%	Cons. · Japanese GAAP
FYE Mar 2025	1.2	+19.7%	Cons. · Japanese GAAP
FYE Mar 2026	1.7	+40.4%	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 ¥29bn

CAGR · 10 yrs +7.9%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	14.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.4	+31.2%	Cons. · Japanese GAAP
FYE Mar 2019	19.5	+0.5%	Cons. · Japanese GAAP
FYE Mar 2020	12.5	−36.1%	Cons. · Japanese GAAP
FYE Mar 2021	17.6	+41.4%	Cons. · Japanese GAAP
FYE Mar 2022	11.1	−37.0%	Cons. · Japanese GAAP
FYE Mar 2023	13.2	+19.1%	Cons. · Japanese GAAP
FYE Mar 2024	21.8	+64.6%	Cons. · Japanese GAAP
FYE Mar 2025	26.8	+23.1%	Cons. · Japanese GAAP
FYE Mar 2026	29.3	+9.1%	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 ¥0.9bn

CAGR · 10 yrs −13.5%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.5	−85.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.7	+35.6%	Cons. · Japanese GAAP
FYE Mar 2020	0.1	−78.5%	Cons. · Japanese GAAP
FYE Mar 2021	1.5	+925.2%	Cons. · Japanese GAAP
FYE Mar 2022	1.9	+24.5%	Cons. · Japanese GAAP
FYE Mar 2023	9.9	+426.1%	Cons. · Japanese GAAP
FYE Mar 2024	1.5	−84.7%	Cons. · Japanese GAAP
FYE Mar 2025	3.6	+140.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.9	−74.0%	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 ¥21bn

CAGR · 10 yrs +7.4%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	11.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.8	+7.4%	Cons. · Japanese GAAP
FYE Mar 2019	12.4	+4.5%	Cons. · Japanese GAAP
FYE Mar 2020	7.1	−42.3%	Cons. · Japanese GAAP
FYE Mar 2021	-10.2	−243.1%	Cons. · Japanese GAAP
FYE Mar 2022	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	16.9	+192.7%	Cons. · Japanese GAAP
FYE Mar 2024	15.9	−6.0%	Cons. · Japanese GAAP
FYE Mar 2025	20.1	+26.7%	Cons. · Japanese GAAP
FYE Mar 2026	20.9	+3.8%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 77.8%

Average · 10 yrs 81.5%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	82.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	79.6	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2019	76.5	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2020	84.9	+8.4pp	Cons. · Japanese GAAP
FYE Mar 2021	77.4	−7.5pp	Cons. · Japanese GAAP
FYE Mar 2022	85.8	+8.4pp	Cons. · Japanese GAAP
FYE Mar 2023	88.9	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2024	84.6	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2025	77.5	−7.1pp	Cons. · Japanese GAAP
FYE Mar 2026	77.8	+0.3pp	Cons. · Japanese GAAP

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

Operating margin

FYE Mar 2026 11.1%

Average · 10 yrs 9.2%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	9.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.7	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	10.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	7.3	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2021	8.8	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2022	5.5	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2023	7.2	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	10.5	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	10.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	11.1	+0.5pp	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 11.1%

Average · 10 yrs 9.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	10.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.7	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	10.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	7.8	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2021	10.5	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2022	7.0	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2023	7.8	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	10.8	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2025	10.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	11.1	+0.4pp	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 8.0%

Average · 10 yrs 5.8%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	7.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.2	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	6.9	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	4.5	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2021	-6.1	−10.6pp	Cons. · Japanese GAAP
FYE Mar 2022	3.7	+9.8pp	Cons. · Japanese GAAP
FYE Mar 2023	10.0	+6.3pp	Cons. · Japanese GAAP
FYE Mar 2024	7.9	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2025	8.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	8.0	−0.1pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 22.2%

Average · 10 yrs 18.5%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	18.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.4	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2019	23.5	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2020	15.1	−8.4pp	Cons. · Japanese GAAP
FYE Mar 2021	22.6	+7.5pp	Cons. · Japanese GAAP
FYE Mar 2022	14.2	−8.4pp	Cons. · Japanese GAAP
FYE Mar 2023	11.1	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2024	15.4	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2025	22.5	+7.1pp	Cons. · Japanese GAAP
FYE Mar 2026	22.2	−0.3pp	Cons. · Japanese GAAP

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

SG&A ratio

FYE Mar 2026 66.7%

Average · 10 yrs 72.3%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	72.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	68.8	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2019	66.0	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2020	77.6	+11.6pp	Cons. · Japanese GAAP
FYE Mar 2021	68.6	−9.0pp	Cons. · Japanese GAAP
FYE Mar 2022	80.3	+11.6pp	Cons. · Japanese GAAP
FYE Mar 2023	81.7	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	74.1	−7.6pp	Cons. · Japanese GAAP
FYE Mar 2025	66.9	−7.2pp	Cons. · Japanese GAAP
FYE Mar 2026	66.7	−0.2pp	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 ¥525bn

CAGR · 10 yrs +2.5%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	422	n/a	Cons. · Japanese GAAP
FYE Mar 2018	421	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	401	−4.7%	Cons. · Japanese GAAP
FYE Mar 2020	401	−0.1%	Cons. · Japanese GAAP
FYE Mar 2021	407	+1.6%	Cons. · Japanese GAAP
FYE Mar 2022	394	−3.2%	Cons. · Japanese GAAP
FYE Mar 2023	440	+11.6%	Cons. · Japanese GAAP
FYE Mar 2024	469	+6.5%	Cons. · Japanese GAAP
FYE Mar 2025	493	+5.2%	Cons. · Japanese GAAP
FYE Mar 2026	525	+6.6%	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 ¥160bn

CAGR · 10 yrs +3.9%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	114	n/a	Cons. · Japanese GAAP
FYE Mar 2018	121	+6.2%	Cons. · Japanese GAAP
FYE Mar 2019	128	+5.6%	Cons. · Japanese GAAP
FYE Mar 2020	128	+0.3%	Cons. · Japanese GAAP
FYE Mar 2021	116	−9.5%	Cons. · Japanese GAAP
FYE Mar 2022	102	−12.2%	Cons. · Japanese GAAP
FYE Mar 2023	118	+15.9%	Cons. · Japanese GAAP
FYE Mar 2024	129	+9.8%	Cons. · Japanese GAAP
FYE Mar 2025	144	+11.6%	Cons. · Japanese GAAP
FYE Mar 2026	160	+11.0%	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 ¥5.5bn

CAGR · 10 yrs −23.3%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	59.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.0	−31.0%	Cons. · Japanese GAAP
FYE Mar 2019	44.1	+7.5%	Cons. · Japanese GAAP
FYE Mar 2020	39.1	−11.3%	Cons. · Japanese GAAP
FYE Mar 2021	46.1	+17.9%	Cons. · Japanese GAAP
FYE Mar 2022	33.6	−27.2%	Cons. · Japanese GAAP
FYE Mar 2023	14.8	−55.9%	Cons. · Japanese GAAP
FYE Mar 2024	3.8	−74.2%	Cons. · Japanese GAAP
FYE Mar 2025	7.3	+92.1%	Cons. · Japanese GAAP
FYE Mar 2026	5.5	−25.2%	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 ¥3.6bn

CAGR · 10 yrs −9.9%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.0	−2.6%	Cons. · Japanese GAAP
FYE Mar 2019	5.0	−44.2%	Cons. · Japanese GAAP
FYE Mar 2020	8.1	+62.1%	Cons. · Japanese GAAP
FYE Mar 2021	2.1	−73.8%	Cons. · Japanese GAAP
FYE Mar 2022	8.8	+314.1%	Cons. · Japanese GAAP
FYE Mar 2023	1.3	−85.1%	Cons. · Japanese GAAP
FYE Mar 2024	1.7	+26.1%	Cons. · Japanese GAAP
FYE Mar 2025	4.8	+191.6%	Cons. · Japanese GAAP
FYE Mar 2026	3.6	−24.9%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Mar 2026 ¥1.9bn

CAGR · 10 yrs −30.6%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	50.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.1	−36.2%	Cons. · Japanese GAAP
FYE Mar 2019	39.1	+22.0%	Cons. · Japanese GAAP
FYE Mar 2020	31.0	−20.7%	Cons. · Japanese GAAP
FYE Mar 2021	44.0	+41.9%	Cons. · Japanese GAAP
FYE Mar 2022	24.8	−43.7%	Cons. · Japanese GAAP
FYE Mar 2023	13.5	−45.6%	Cons. · Japanese GAAP
FYE Mar 2024	2.2	−83.9%	Cons. · Japanese GAAP
FYE Mar 2025	2.5	+16.5%	Cons. · Japanese GAAP
FYE Mar 2026	1.9	−25.9%	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 ¥6.1bn

CAGR · 10 yrs −5.8%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	10.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.0	+5.9%	Cons. · Japanese GAAP
FYE Mar 2019	11.8	+7.3%	Cons. · Japanese GAAP
FYE Mar 2020	10.6	−10.4%	Cons. · Japanese GAAP
FYE Mar 2021	9.2	−12.9%	Cons. · Japanese GAAP
FYE Mar 2022	7.6	−17.8%	Cons. · Japanese GAAP
FYE Mar 2023	6.2	−18.8%	Cons. · Japanese GAAP
FYE Mar 2024	6.1	−0.2%	Cons. · Japanese GAAP
FYE Mar 2025	6.3	+1.9%	Cons. · Japanese GAAP
FYE Mar 2026	6.1	−3.0%	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 ¥0.1bn

CAGR · 10 yrs −35.0%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.1	−8.9%	Cons. · Japanese GAAP
FYE Mar 2019	3.6	−11.7%	Cons. · Japanese GAAP
FYE Mar 2020	3.1	−14.9%	Cons. · Japanese GAAP
FYE Mar 2021	2.5	−18.8%	Cons. · Japanese GAAP
FYE Mar 2022	1.7	−32.8%	Cons. · Japanese GAAP
FYE Mar 2023	1.3	−25.1%	Cons. · Japanese GAAP
FYE Mar 2024	0.8	−33.4%	Cons. · Japanese GAAP
FYE Mar 2025	0.5	−37.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.1	−82.1%	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 30.5%

Average · 10 yrs 28.8%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	27.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	28.7	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2019	31.8	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2020	32.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	28.5	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2022	25.8	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2023	26.8	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	27.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	29.3	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2026	30.5	+1.2pp	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 Mar 2026 3.4%

Average · 10 yrs 24.8%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	52.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.9	−18.3pp	Cons. · Japanese GAAP
FYE Mar 2019	34.5	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	30.5	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2021	39.8	+9.3pp	Cons. · Japanese GAAP
FYE Mar 2022	33.0	−6.8pp	Cons. · Japanese GAAP
FYE Mar 2023	12.6	−20.5pp	Cons. · Japanese GAAP
FYE Mar 2024	3.0	−9.6pp	Cons. · Japanese GAAP
FYE Mar 2025	5.1	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2026	3.4	−1.7pp	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 13.0%

Average · 10 yrs 8.5%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	9.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	9.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	5.6	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2021	-8.8	−14.4pp	Cons. · Japanese GAAP
FYE Mar 2022	5.7	+14.5pp	Cons. · Japanese GAAP
FYE Mar 2023	14.3	+8.7pp	Cons. · Japanese GAAP
FYE Mar 2024	12.3	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2025	14.0	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2026	13.0	−0.9pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 4.0%

Average · 10 yrs 2.5%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	3.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	1.8	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	-2.5	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2022	1.5	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2023	3.8	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2024	3.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	4.1	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	4.0	−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 0.50×

CAGR · 10 yrs +4.4%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.34	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.39	+15.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.45	+14.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.40	−11.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.41	+3.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.40	−2.8%	Cons. · Japanese GAAP
FYE Mar 2023	0.39	−3.5%	Cons. · Japanese GAAP
FYE Mar 2024	0.43	+11.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.51	+17.4%	Cons. · Japanese GAAP
FYE Mar 2026	0.50	−1.0%	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 ¥50bn

CAGR · 10 yrs +7.5%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	26.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.5	−67.8%	Cons. · Japanese GAAP
FYE Mar 2019	16.7	+97.2%	Cons. · Japanese GAAP
FYE Mar 2020	19.1	+14.5%	Cons. · Japanese GAAP
FYE Mar 2021	23.0	+20.3%	Cons. · Japanese GAAP
FYE Mar 2022	22.7	−1.4%	Cons. · Japanese GAAP
FYE Mar 2023	24.3	+7.2%	Cons. · Japanese GAAP
FYE Mar 2024	39.1	+61.1%	Cons. · Japanese GAAP
FYE Mar 2025	36.7	−6.2%	Cons. · Japanese GAAP
FYE Mar 2026	50.3	+37.0%	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 -¥36bn

Average · 10 yrs -¥9.7bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-7.3	−287.6%	Cons. · Japanese GAAP
FYE Mar 2019	-2.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-13.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	6.3	+130.8%	Cons. · Japanese GAAP
FYE Mar 2024	-12.5	−298.3%	Cons. · Japanese GAAP
FYE Mar 2025	-30.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-35.5	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 -¥11bn

Average · 10 yrs -¥16bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-15.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-23.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-13.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	22.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-49.0	−322.7%	Cons. · Japanese GAAP
FYE Mar 2023	-31.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-23.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-9.3	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-10.7	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 ¥33bn

CAGR · 10 yrs −2.3%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	40.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.5	−19.6%	Cons. · Japanese GAAP
FYE Mar 2019	23.9	−26.4%	Cons. · Japanese GAAP
FYE Mar 2020	21.4	−10.5%	Cons. · Japanese GAAP
FYE Mar 2021	52.8	+146.8%	Cons. · Japanese GAAP
FYE Mar 2022	29.2	−44.6%	Cons. · Japanese GAAP
FYE Mar 2023	28.9	−1.0%	Cons. · Japanese GAAP
FYE Mar 2024	32.3	+11.5%	Cons. · Japanese GAAP
FYE Mar 2025	28.9	−10.4%	Cons. · Japanese GAAP
FYE Mar 2026	32.9	+13.8%	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 ¥15bn

CAGR · 10 yrs −7.6%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	30.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.2	−96.1%	Cons. · Japanese GAAP
FYE Mar 2019	14.6	+1145.1%	Cons. · Japanese GAAP
FYE Mar 2020	10.8	−25.8%	Cons. · Japanese GAAP
FYE Mar 2021	9.4	−13.3%	Cons. · Japanese GAAP
FYE Mar 2022	25.4	+170.1%	Cons. · Japanese GAAP
FYE Mar 2023	30.6	+20.5%	Cons. · Japanese GAAP
FYE Mar 2024	26.6	−13.1%	Cons. · Japanese GAAP
FYE Mar 2025	5.8	−78.4%	Cons. · Japanese GAAP
FYE Mar 2026	14.7	+156.0%	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 19.1%

Average · 10 yrs 14.0%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	18.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	−13.2pp	Cons. · Japanese GAAP
FYE Mar 2019	9.3	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2020	12.0	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2021	13.7	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	14.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	14.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	19.4	+5.1pp	Cons. · Japanese GAAP
FYE Mar 2025	14.7	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2026	19.1	+4.4pp	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 ¥27bn

Average · 10 yrs ¥2.8bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-19.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-8.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-20.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-17.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	6.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-4.4	−166.0%	Cons. · Japanese GAAP
FYE Mar 2023	14.1	n/a	Cons. · Japanese GAAP
FYE Mar 2024	28.4	+101.2%	Cons. · Japanese GAAP
FYE Mar 2025	21.6	−24.2%	Cons. · Japanese GAAP
FYE Mar 2026	27.4	+27.1%	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 ¥377bn

Change · 9 yrs +¥164bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	213	n/a
FYE Mar 2018	242	n/a
FYE Mar 2019	163	n/a
FYE Mar 2020	115	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	227	n/a
FYE Mar 2023	229	n/a
FYE Mar 2024	288	n/a
FYE Mar 2025	315	n/a
FYE Mar 2026	377	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 1,736¥

Change · 9 yrs −224¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,960	n/a
FYE Mar 2018	2,233	n/a
FYE Mar 2019	1,500	n/a
FYE Mar 2020	1,056	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	2,093	n/a
FYE Mar 2023	2,110	n/a
FYE Mar 2024	2,656	n/a
FYE Mar 2025	2,903	n/a
FYE Mar 2026	1,736	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 217,041,598shares

Change · 10 yrs +108,522,599 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	108,518,999	Parent
FYE Mar 2018	108,520,799	Parent
FYE Mar 2019	108,520,799	Parent
FYE Mar 2020	108,520,799	Parent
FYE Mar 2021	108,520,799	Parent
FYE Mar 2022	108,520,799	Parent
FYE Mar 2023	108,520,799	Parent
FYE Mar 2024	108,520,799	Parent
FYE Mar 2025	108,520,799	Parent
FYE Mar 2026	217,041,598	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 98.58¥

Change · 10 yrs −4.82¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	103.40	Cons.
FYE Mar 2018	110.82	Cons.
FYE Mar 2019	115.53	Cons.
FYE Mar 2020	66.65	Cons.
FYE Mar 2021	-47.70	Cons.
FYE Mar 2022	27.13	Cons.
FYE Mar 2023	79.49	Cons.
FYE Mar 2024	75.02	Cons.
FYE Mar 2025	95.19	Cons.
FYE Mar 2026	98.58	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 738.36¥

Change · 10 yrs −311.22¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,049.58	Cons. · Japanese GAAP
FYE Mar 2018	1,114.92	Cons. · Japanese GAAP
FYE Mar 2019	1,176.95	Cons. · Japanese GAAP
FYE Mar 2020	1,180.54	Cons. · Japanese GAAP
FYE Mar 2021	1,067.93	Cons. · Japanese GAAP
FYE Mar 2022	937.17	Cons. · Japanese GAAP
FYE Mar 2023	1,086.20	Cons. · Japanese GAAP
FYE Mar 2024	1,192.14	Cons. · Japanese GAAP
FYE Mar 2025	1,329.86	Cons. · Japanese GAAP
FYE Mar 2026	738.36	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 17.61×

Average · 9 yrs 18.93×

Fiscal year	PER ×	Basis
FYE Mar 2017	18.96	Cons.
FYE Mar 2018	20.15	Cons.
FYE Mar 2019	12.98	Cons.
FYE Mar 2020	15.84	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	38.57	Cons.
FYE Mar 2023	13.27	Cons.
FYE Mar 2024	17.70	Cons.
FYE Mar 2025	15.25	Cons.
FYE Mar 2026	17.61	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 2.30×

Average · 9 yrs 1.85×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.84	Cons.
FYE Mar 2018	1.98	Cons.
FYE Mar 2019	1.26	Cons.
FYE Mar 2020	0.88	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	2.19	Cons.
FYE Mar 2023	1.91	Cons.
FYE Mar 2024	2.17	Cons.
FYE Mar 2025	2.13	Cons.
FYE Mar 2026	2.30	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 9,477people

Change · 10 yrs +2,779 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	6,698	n/a	Cons.
FYE Mar 2018	7,331	+9.5%	Cons.
FYE Mar 2019	7,592	+3.6%	Cons.
FYE Mar 2020	7,937	+4.5%	Cons.
FYE Mar 2021	8,123	+2.3%	Cons.
FYE Mar 2022	7,903	−2.7%	Cons.
FYE Mar 2023	7,943	+0.5%	Cons.
FYE Mar 2024	8,404	+5.8%	Cons.
FYE Mar 2025	9,046	+7.6%	Cons.
FYE Mar 2026	9,477	+4.8%	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 6,585people

Change · 10 yrs +1,746 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	4,839	n/a	Parent
FYE Mar 2018	5,292	+9.4%	Parent
FYE Mar 2019	5,413	+2.3%	Parent
FYE Mar 2020	5,473	+1.1%	Parent
FYE Mar 2021	5,498	+0.5%	Parent
FYE Mar 2022	5,275	−4.1%	Parent
FYE Mar 2023	5,268	−0.1%	Parent
FYE Mar 2024	5,741	+9.0%	Parent
FYE Mar 2025	6,279	+9.4%	Parent
FYE Mar 2026	6,585	+4.9%	Parent

Definition: Employees of the filing company itself
Formula: Parent-only headcount, from the employee section of the filing
Source: Securities report (XBRL)

Average annual pay parent company

FYE Mar 2026 662万円

Change · 8 yrs +146万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	516	n/a	Parent
FYE Mar 2020	533	+3.3%	Parent
FYE Mar 2021	507	−4.9%	Parent
FYE Mar 2022	538	+6.1%	Parent
FYE Mar 2023	583	+8.5%	Parent
FYE Mar 2024	615	+5.5%	Parent
FYE Mar 2025	632	+2.6%	Parent
FYE Mar 2026	662	+4.7%	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 36.2years

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	34.4	n/a	Parent
FYE Mar 2020	35.1	+2.0%	Parent
FYE Mar 2021	35.5	+1.1%	Parent
FYE Mar 2022	36.2	+2.0%	Parent
FYE Mar 2023	36.5	+0.8%	Parent
FYE Mar 2024	36.5	−0.0%	Parent
FYE Mar 2025	36.1	−1.1%	Parent
FYE Mar 2026	36.2	+0.3%	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 9.1years

Change · 8 yrs +1.2 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	7.9	n/a	Parent
FYE Mar 2020	8.6	+8.9%	Parent
FYE Mar 2021	8.7	+1.2%	Parent
FYE Mar 2022	9.3	+6.9%	Parent
FYE Mar 2023	9.6	+3.2%	Parent
FYE Mar 2024	9.2	−4.2%	Parent
FYE Mar 2025	8.9	−3.3%	Parent
FYE Mar 2026	9.1	+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)

Temporary employees

FYE Mar 2026 3,833people

Change · 10 yrs +977 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	2,856	n/a	n/a
FYE Mar 2018	2,859	+0.1%	n/a
FYE Mar 2019	2,786	−2.6%	n/a
FYE Mar 2020	3,556	+27.6%	n/a
FYE Mar 2021	2,926	−17.7%	n/a
FYE Mar 2022	3,110	+6.3%	n/a
FYE Mar 2023	3,851	+23.8%	n/a
FYE Mar 2024	4,240	+10.1%	n/a
FYE Mar 2025	3,660	−13.7%	n/a
FYE Mar 2026	3,833	+4.7%	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 ¥27.8m

Change · 10 yrs +¥6.3m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	21.4	n/a	Cons.
FYE Mar 2018	22.6	+5.3%	Cons.
FYE Mar 2019	23.6	+4.8%	Cons.
FYE Mar 2020	20.1	−15.2%	Cons.
FYE Mar 2021	20.6	+2.9%	Cons.
FYE Mar 2022	20.0	−3.2%	Cons.
FYE Mar 2023	21.4	+7.1%	Cons.
FYE Mar 2024	24.0	+12.3%	Cons.
FYE Mar 2025	27.6	+14.8%	Cons.
FYE Mar 2026	27.8	+0.7%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥3.1m

Change · 10 yrs +¥1.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.0	n/a	Cons.
FYE Mar 2018	2.4	+20.0%	Cons.
FYE Mar 2019	2.5	+2.7%	Cons.
FYE Mar 2020	1.5	−41.0%	Cons.
FYE Mar 2021	1.8	+23.3%	Cons.
FYE Mar 2022	1.1	−39.2%	Cons.
FYE Mar 2023	1.5	+40.4%	Cons.
FYE Mar 2024	2.5	+62.7%	Cons.
FYE Mar 2025	2.9	+16.0%	Cons.
FYE Mar 2026	3.1	+5.6%	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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