Financials

Obic: FYE Mar 2026 and ten years of results (44 metrics)

FYE Mar 2026 · Revenue¥135bnYoY +11.5%

FYE Mar 2026 · Operating profit¥89bnYoY +13.3%

FYE Mar 2026 · Net profit¥75bnYoY +16.4%

FYE Mar 2026 · Equity ratio83.4%YoY −3.3pp

FYE Mar 2026 · Group employees2,256YoY +67

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥61bn	n/a	¥28bn	n/a	45.3%	¥23bn	Tachibana Shoichi	—
FYE Mar 2018Consolidated	¥67bn	+8.7%	¥32bn	+16.1%	48.4%	¥26bn	Tachibana Shoichi	—
FYE Mar 2019Consolidated	¥74bn	+11.0%	¥38bn	+17.4%	51.2%	¥32bn	Tachibana Shoichi	—
FYE Mar 2020Consolidated	¥80bn	+8.5%	¥43bn	+14.0%	53.7%	¥35bn	Tachibana Shoichi	SOC 1 Type 2 report; market capitalisation passes ¥1 trillion
FYE Mar 2021Consolidated	¥84bn	+4.2%	¥48bn	+11.2%	57.3%	¥38bn	Tachibana Shoichi	—
FYE Mar 2022Consolidated	¥89bn	+6.7%	¥54bn	+12.6%	60.5%	¥44bn	Tachibana Shoichi	—
FYE Mar 2023Consolidated	¥100bn	+11.9%	¥62bn	+15.4%	62.4%	¥50bn	Tachibana Shoichi	Moves to the TSE Prime Market
FYE Mar 2024Consolidated	¥112bn	+11.4%	¥71bn	+13.5%	63.5%	¥58bn	Tachibana Shoichi	Founder-chairman’s re-election support falls to 83%
FYE Mar 2025Consolidated	¥121bn	+8.6%	¥78bn	+10.5%	64.6%	¥65bn	Tachibana Shoichi	—
FYE Mar 2026Consolidated	¥135bn	+11.5%	¥89bn	+13.3%	65.7%	¥75bn	Tachibana Shoichi	Operating margin of 64.6% for the year to March

How it compares

NTT DATA GroupDelisted 2025

Fujitsu¥3.50tnFY2025Operating margin 9.9%

IBM Japan, Ltd.¥832bnFY2025Operating margin 5.5%

Nomura Research Institute¥815bnFY2025Operating margin 7.2%

SCSK CorporationDelisted 2026

TIS¥596bnFY2025Operating margin 12.8%BIPROGY¥434bnFY2025Operating margin 9.8%NS Solutions¥381bnFY2025Operating margin 11.6%

FujisofutoDelisted 2025

Dentsu Soken¥165bnFY2025Operating margin 13.9%

Obic¥135bnFY2025Operating margin 65.7%

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 ¥135bn

CAGR · 10 yrs +9.2%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	61.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	66.8	+8.7%	Cons. · Japanese GAAP
FYE Mar 2019	74.2	+11.0%	Cons. · Japanese GAAP
FYE Mar 2020	80.5	+8.5%	Cons. · Japanese GAAP
FYE Mar 2021	83.9	+4.2%	Cons. · Japanese GAAP
FYE Mar 2022	89.5	+6.7%	Cons. · Japanese GAAP
FYE Mar 2023	100	+11.9%	Cons. · Japanese GAAP
FYE Mar 2024	112	+11.4%	Cons. · Japanese GAAP
FYE Mar 2025	121	+8.6%	Cons. · Japanese GAAP
FYE Mar 2026	135	+11.5%	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 ¥30bn

CAGR · 10 yrs +3.5%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	21.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.3	+3.2%	Cons. · Japanese GAAP
FYE Mar 2019	23.2	+4.1%	Cons. · Japanese GAAP
FYE Mar 2020	24.2	+4.0%	Cons. · Japanese GAAP
FYE Mar 2021	23.0	−4.7%	Cons. · Japanese GAAP
FYE Mar 2022	21.5	−6.5%	Cons. · Japanese GAAP
FYE Mar 2023	22.9	+6.6%	Cons. · Japanese GAAP
FYE Mar 2024	25.2	+9.7%	Cons. · Japanese GAAP
FYE Mar 2025	26.9	+6.7%	Cons. · Japanese GAAP
FYE Mar 2026	29.5	+10.0%	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 ¥106bn

CAGR · 10 yrs +11.4%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	39.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	44.5	+11.7%	Cons. · Japanese GAAP
FYE Mar 2019	50.9	+14.4%	Cons. · Japanese GAAP
FYE Mar 2020	56.3	+10.6%	Cons. · Japanese GAAP
FYE Mar 2021	60.8	+8.0%	Cons. · Japanese GAAP
FYE Mar 2022	68.0	+11.7%	Cons. · Japanese GAAP
FYE Mar 2023	77.2	+13.6%	Cons. · Japanese GAAP
FYE Mar 2024	86.4	+11.9%	Cons. · Japanese GAAP
FYE Mar 2025	94.4	+9.2%	Cons. · Japanese GAAP
FYE Mar 2026	106	+12.0%	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 ¥17bn

CAGR · 10 yrs +3.8%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	12.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.2	+1.7%	Cons. · Japanese GAAP
FYE Mar 2019	13.0	+6.6%	Cons. · Japanese GAAP
FYE Mar 2020	13.1	+0.7%	Cons. · Japanese GAAP
FYE Mar 2021	12.8	−2.5%	Cons. · Japanese GAAP
FYE Mar 2022	13.8	+8.3%	Cons. · Japanese GAAP
FYE Mar 2023	14.7	+6.6%	Cons. · Japanese GAAP
FYE Mar 2024	15.5	+5.3%	Cons. · Japanese GAAP
FYE Mar 2025	16.0	+3.2%	Cons. · Japanese GAAP
FYE Mar 2026	16.8	+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 ¥89bn

CAGR · 10 yrs +13.8%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	27.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.3	+16.1%	Cons. · Japanese GAAP
FYE Mar 2019	37.9	+17.4%	Cons. · Japanese GAAP
FYE Mar 2020	43.2	+14.0%	Cons. · Japanese GAAP
FYE Mar 2021	48.1	+11.2%	Cons. · Japanese GAAP
FYE Mar 2022	54.1	+12.6%	Cons. · Japanese GAAP
FYE Mar 2023	62.5	+15.4%	Cons. · Japanese GAAP
FYE Mar 2024	70.9	+13.5%	Cons. · Japanese GAAP
FYE Mar 2025	78.4	+10.5%	Cons. · Japanese GAAP
FYE Mar 2026	88.8	+13.3%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥18bn

CAGR · 10 yrs +16.3%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.4	−25.5%	Cons. · Japanese GAAP
FYE Mar 2019	4.3	+27.2%	Cons. · Japanese GAAP
FYE Mar 2020	4.1	−3.5%	Cons. · Japanese GAAP
FYE Mar 2021	5.8	+41.5%	Cons. · Japanese GAAP
FYE Mar 2022	7.6	+30.0%	Cons. · Japanese GAAP
FYE Mar 2023	9.9	+31.2%	Cons. · Japanese GAAP
FYE Mar 2024	11.7	+18.1%	Cons. · Japanese GAAP
FYE Mar 2025	13.0	+10.3%	Cons. · Japanese GAAP
FYE Mar 2026	17.5	+35.3%	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 ¥1.6bn

CAGR · 10 yrs +34.4%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.1	+0.9%	Cons. · Japanese GAAP
FYE Mar 2019	0.3	+154.1%	Cons. · Japanese GAAP
FYE Mar 2020	1.3	+377.3%	Cons. · Japanese GAAP
FYE Mar 2021	1.3	−3.0%	Cons. · Japanese GAAP
FYE Mar 2022	1.5	+17.6%	Cons. · Japanese GAAP
FYE Mar 2023	2.2	+43.6%	Cons. · Japanese GAAP
FYE Mar 2024	1.5	−32.0%	Cons. · Japanese GAAP
FYE Mar 2025	1.6	+4.1%	Cons. · Japanese GAAP
FYE Mar 2026	1.6	+0.9%	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 ¥105bn

CAGR · 10 yrs +14.0%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	32.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.6	+10.3%	Cons. · Japanese GAAP
FYE Mar 2019	41.9	+17.9%	Cons. · Japanese GAAP
FYE Mar 2020	46.0	+9.7%	Cons. · Japanese GAAP
FYE Mar 2021	52.6	+14.3%	Cons. · Japanese GAAP
FYE Mar 2022	60.2	+14.4%	Cons. · Japanese GAAP
FYE Mar 2023	70.2	+16.7%	Cons. · Japanese GAAP
FYE Mar 2024	81.2	+15.6%	Cons. · Japanese GAAP
FYE Mar 2025	89.8	+10.6%	Cons. · Japanese GAAP
FYE Mar 2026	105	+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 Mar 2026 ¥0.0bn

CAGR · 9 yrs −41.3%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.9	+315.0%	Cons. · Japanese GAAP
FYE Mar 2019	2.1	+132.0%	Cons. · Japanese GAAP
FYE Mar 2020	2.5	+21.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.3	−88.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−98.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−75.0%	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2026	0.0	−99.1%	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 ¥38.0m

CAGR · 10 yrs +10.9%

Fiscal year	Extraordinary loss ¥ m	YoY	Basis
FYE Mar 2017	15.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	133	+786.7%	Cons. · Japanese GAAP
FYE Mar 2019	2.0	−98.5%	Cons. · Japanese GAAP
FYE Mar 2020	606	+30200.0%	Cons. · Japanese GAAP
FYE Mar 2021	4.0	−99.3%	Cons. · Japanese GAAP
FYE Mar 2022	384	+9500.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2024	72.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	9.0	−87.5%	Cons. · Japanese GAAP
FYE Mar 2026	38.0	+322.2%	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 ¥75bn

CAGR · 10 yrs +13.9%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	23.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.3	+12.5%	Cons. · Japanese GAAP
FYE Mar 2019	32.2	+22.7%	Cons. · Japanese GAAP
FYE Mar 2020	35.1	+8.9%	Cons. · Japanese GAAP
FYE Mar 2021	38.0	+8.3%	Cons. · Japanese GAAP
FYE Mar 2022	43.5	+14.5%	Cons. · Japanese GAAP
FYE Mar 2023	50.1	+15.2%	Cons. · Japanese GAAP
FYE Mar 2024	58.0	+15.7%	Cons. · Japanese GAAP
FYE Mar 2025	64.6	+11.4%	Cons. · Japanese GAAP
FYE Mar 2026	75.2	+16.4%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 78.1%

Average · 10 yrs 72.9%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	64.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	66.6	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2019	68.7	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2020	70.0	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	72.5	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	76.0	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2023	77.1	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	77.5	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	77.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	78.1	+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 65.7%

Average · 10 yrs 57.3%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	45.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	48.4	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2019	51.2	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2020	53.7	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2021	57.3	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2022	60.5	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2023	62.4	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	63.5	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2025	64.6	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	65.7	+1.0pp	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 77.5%

Average · 10 yrs 64.4%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	52.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	53.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	56.5	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2020	57.2	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	62.7	+5.6pp	Cons. · Japanese GAAP
FYE Mar 2022	67.3	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2023	70.1	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	72.7	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2025	74.0	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	77.5	+3.5pp	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 55.6%

Average · 10 yrs 46.9%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	38.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.3	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	43.4	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2020	43.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	45.3	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	48.6	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2023	50.0	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	52.0	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2025	53.3	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	55.6	+2.3pp	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 21.9%

Average · 10 yrs 27.1%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	35.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.4	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2019	31.3	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2020	30.0	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	27.5	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	24.0	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2023	22.9	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	22.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	22.2	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	21.9	−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 12.5%

Average · 10 yrs 15.6%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	19.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.2	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	17.5	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	16.3	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	15.2	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	15.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	14.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	13.9	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	13.2	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	12.5	−0.7pp	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

Total assets

FYE Mar 2026 ¥619bn

CAGR · 10 yrs +13.4%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	200	n/a	Cons. · Japanese GAAP
FYE Mar 2018	221	+10.6%	Cons. · Japanese GAAP
FYE Mar 2019	245	+10.7%	Cons. · Japanese GAAP
FYE Mar 2020	265	+8.0%	Cons. · Japanese GAAP
FYE Mar 2021	298	+12.7%	Cons. · Japanese GAAP
FYE Mar 2022	324	+8.6%	Cons. · Japanese GAAP
FYE Mar 2023	367	+13.2%	Cons. · Japanese GAAP
FYE Mar 2024	462	+26.0%	Cons. · Japanese GAAP
FYE Mar 2025	500	+8.3%	Cons. · Japanese GAAP
FYE Mar 2026	619	+23.7%	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 ¥516bn

CAGR · 10 yrs +12.6%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	178	n/a	Cons. · Japanese GAAP
FYE Mar 2018	197	+11.2%	Cons. · Japanese GAAP
FYE Mar 2019	218	+10.7%	Cons. · Japanese GAAP
FYE Mar 2020	238	+9.1%	Cons. · Japanese GAAP
FYE Mar 2021	266	+11.6%	Cons. · Japanese GAAP
FYE Mar 2022	294	+10.4%	Cons. · Japanese GAAP
FYE Mar 2023	328	+11.7%	Cons. · Japanese GAAP
FYE Mar 2024	399	+21.6%	Cons. · Japanese GAAP
FYE Mar 2025	434	+8.8%	Cons. · Japanese GAAP
FYE Mar 2026	516	+18.9%	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)

Intangible assets

FYE Mar 2026 ¥152m

CAGR · 10 yrs +7.7%

Fiscal year	Intangible assets ¥ m	YoY	Basis
FYE Mar 2017	78.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	112	+43.6%	Cons. · Japanese GAAP
FYE Mar 2019	106	−5.4%	Cons. · Japanese GAAP
FYE Mar 2020	122	+15.1%	Cons. · Japanese GAAP
FYE Mar 2021	133	+9.0%	Cons. · Japanese GAAP
FYE Mar 2022	154	+15.8%	Cons. · Japanese GAAP
FYE Mar 2023	144	−6.5%	Cons. · Japanese GAAP
FYE Mar 2024	122	−15.3%	Cons. · Japanese GAAP
FYE Mar 2025	85.0	−30.3%	Cons. · Japanese GAAP
FYE Mar 2026	152	+78.8%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 83.4%

Average · 10 yrs 88.3%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	88.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	89.2	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	89.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	90.1	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	89.2	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2022	90.6	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	89.4	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2024	86.3	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2025	86.7	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	83.4	−3.3pp	Cons. · Japanese GAAP

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

ROE return on equity

FYE Mar 2026 14.6%

Average · 10 yrs 14.4%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	13.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	14.7	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	14.7	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	14.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	14.8	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	15.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2024	14.5	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	14.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	14.6	−0.3pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 12.2%

Average · 10 yrs 12.7%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	11.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	13.2	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	13.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	12.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	13.4	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	13.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	12.6	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	12.9	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	12.2	−0.8pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.22×

CAGR · 10 yrs −3.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.31	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.30	−1.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.30	+0.3%	Cons. · Japanese GAAP
FYE Mar 2020	0.30	+0.5%	Cons. · Japanese GAAP
FYE Mar 2021	0.28	−7.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.28	−1.8%	Cons. · Japanese GAAP
FYE Mar 2023	0.27	−1.1%	Cons. · Japanese GAAP
FYE Mar 2024	0.24	−11.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.24	+0.4%	Cons. · Japanese GAAP
FYE Mar 2026	0.22	−9.8%	Cons. · Japanese GAAP

Definition: How much revenue each yen of assets produces
Formula: Revenue ÷ total assets
Source: Securities report (XBRL)

Cash flow statement Cash from operations, investment and financing, and what is left on hand

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents

Operating cash flow

FYE Mar 2026 ¥74bn

CAGR · 10 yrs +14.8%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	21.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.1	+22.5%	Cons. · Japanese GAAP
FYE Mar 2019	29.8	+14.3%	Cons. · Japanese GAAP
FYE Mar 2020	32.0	+7.2%	Cons. · Japanese GAAP
FYE Mar 2021	41.7	+30.2%	Cons. · Japanese GAAP
FYE Mar 2022	39.0	−6.5%	Cons. · Japanese GAAP
FYE Mar 2023	53.0	+35.9%	Cons. · Japanese GAAP
FYE Mar 2024	55.8	+5.4%	Cons. · Japanese GAAP
FYE Mar 2025	62.8	+12.5%	Cons. · Japanese GAAP
FYE Mar 2026	73.7	+17.4%	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 -¥2.0bn

Average · 10 yrs -¥7.8bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-6.3	−373.1%	Cons. · Japanese GAAP
FYE Mar 2019	-8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-44.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-2.2	−272.1%	Cons. · Japanese GAAP
FYE Mar 2025	-3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-2.0	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 -¥64bn

Average · 10 yrs -¥23bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-8.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-8.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-11.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-13.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-15.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-23.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-20.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-39.7	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-29.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-64.4	n/a	Cons. · Japanese GAAP

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

Cash and equivalents

FYE Mar 2026 ¥207bn

CAGR · 10 yrs +8.7%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	98.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	109	+11.6%	Cons. · Japanese GAAP
FYE Mar 2019	120	+9.6%	Cons. · Japanese GAAP
FYE Mar 2020	130	+8.0%	Cons. · Japanese GAAP
FYE Mar 2021	151	+16.3%	Cons. · Japanese GAAP
FYE Mar 2022	123	−18.6%	Cons. · Japanese GAAP
FYE Mar 2023	156	+27.4%	Cons. · Japanese GAAP
FYE Mar 2024	170	+8.9%	Cons. · Japanese GAAP
FYE Mar 2025	200	+17.5%	Cons. · Japanese GAAP
FYE Mar 2026	207	+3.7%	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 ¥72bn

CAGR · 10 yrs +13.1%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	23.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.8	−16.2%	Cons. · Japanese GAAP
FYE Mar 2019	21.6	+9.3%	Cons. · Japanese GAAP
FYE Mar 2020	22.8	+5.2%	Cons. · Japanese GAAP
FYE Mar 2021	36.3	+59.3%	Cons. · Japanese GAAP
FYE Mar 2022	-5.1	−114.0%	Cons. · Japanese GAAP
FYE Mar 2023	54.2	n/a	Cons. · Japanese GAAP
FYE Mar 2024	53.6	−1.1%	Cons. · Japanese GAAP
FYE Mar 2025	58.9	+9.8%	Cons. · Japanese GAAP
FYE Mar 2026	71.7	+21.9%	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 Mar 2026 54.5%

Average · 10 yrs 45.6%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	34.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.1	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2019	40.2	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	39.8	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	49.7	+9.9pp	Cons. · Japanese GAAP
FYE Mar 2022	43.6	−6.1pp	Cons. · Japanese GAAP
FYE Mar 2023	52.9	+9.3pp	Cons. · Japanese GAAP
FYE Mar 2024	50.0	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2025	51.8	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	54.5	+2.7pp	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Mar 2026 ¥1.91tn

Change · 10 yrs +¥1.39tn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	528	n/a
FYE Mar 2018	882	n/a
FYE Mar 2019	1,111	n/a
FYE Mar 2020	1,411	n/a
FYE Mar 2021	2,017	n/a
FYE Mar 2022	1,835	n/a
FYE Mar 2023	2,083	n/a
FYE Mar 2024	2,269	n/a
FYE Mar 2025	2,143	n/a
FYE Mar 2026	1,914	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 3,844¥

Change · 10 yrs −1,461¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	5,305	n/a
FYE Mar 2018	8,860	n/a
FYE Mar 2019	11,158	n/a
FYE Mar 2020	14,165	n/a
FYE Mar 2021	20,249	n/a
FYE Mar 2022	18,422	n/a
FYE Mar 2023	20,911	n/a
FYE Mar 2024	22,780	n/a
FYE Mar 2025	4,304	n/a
FYE Mar 2026	3,844	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 498,000,000shares

Change · 10 yrs +398,400,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	99,600,000	Parent
FYE Mar 2018	99,600,000	Parent
FYE Mar 2019	99,600,000	Parent
FYE Mar 2020	99,600,000	Parent
FYE Mar 2021	99,600,000	Parent
FYE Mar 2022	99,600,000	Parent
FYE Mar 2023	99,600,000	Parent
FYE Mar 2024	99,600,000	Parent
FYE Mar 2025	498,000,000	Parent
FYE Mar 2026	498,000,000	Parent

Definition: How many shares exist
Formula: Shares issued, from the key figures of the filing
Source: Securities report (XBRL)

EPS earnings per share

FYE Mar 2026 171.61¥

Change · 10 yrs −91.00¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	262.61	Cons.
FYE Mar 2018	295.32	Cons.
FYE Mar 2019	362.26	Cons.
FYE Mar 2020	394.56	Cons.
FYE Mar 2021	85.44	Cons.
FYE Mar 2022	97.99	Cons.
FYE Mar 2023	113.03	Cons.
FYE Mar 2024	130.92	Cons.
FYE Mar 2025	146.90	Cons.
FYE Mar 2026	171.61	Cons.

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

BPS book value per share

FYE Mar 2026 1,036.17¥

Change · 10 yrs −745.96¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,782.13	Cons. · Japanese GAAP
FYE Mar 2018	1,981.87	Cons. · Japanese GAAP
FYE Mar 2019	2,193.53	Cons. · Japanese GAAP
FYE Mar 2020	2,393.49	Cons. · Japanese GAAP
FYE Mar 2021	2,670.93	Cons. · Japanese GAAP
FYE Mar 2022	2,947.46	Cons. · Japanese GAAP
FYE Mar 2023	3,291.81	Cons. · Japanese GAAP
FYE Mar 2024	4,002.93	Cons. · Japanese GAAP
FYE Mar 2025	871.18	Cons. · Japanese GAAP
FYE Mar 2026	1,036.17	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 22.40×

Average · 10 yrs 32.54×

Fiscal year	PER ×	Basis
FYE Mar 2017	20.20	Cons.
FYE Mar 2018	30.00	Cons.
FYE Mar 2019	30.80	Cons.
FYE Mar 2020	35.90	Cons.
FYE Mar 2021	47.40	Cons.
FYE Mar 2022	37.60	Cons.
FYE Mar 2023	37.00	Cons.
FYE Mar 2024	34.80	Cons.
FYE Mar 2025	29.30	Cons.
FYE Mar 2026	22.40	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 3.23×

Average · 10 yrs 4.71×

Fiscal year	PBR ×	Basis
FYE Mar 2017	2.66	Cons.
FYE Mar 2018	3.99	Cons.
FYE Mar 2019	4.54	Cons.
FYE Mar 2020	5.29	Cons.
FYE Mar 2021	6.77	Cons.
FYE Mar 2022	5.56	Cons.
FYE Mar 2023	5.66	Cons.
FYE Mar 2024	5.03	Cons.
FYE Mar 2025	4.36	Cons.
FYE Mar 2026	3.23	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 2,256people

Change · 10 yrs +232 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	2,024	n/a	Cons.
FYE Mar 2018	2,034	+0.5%	Cons.
FYE Mar 2019	2,058	+1.2%	Cons.
FYE Mar 2020	2,051	−0.3%	Cons.
FYE Mar 2021	2,049	−0.1%	Cons.
FYE Mar 2022	2,054	+0.2%	Cons.
FYE Mar 2023	2,082	+1.4%	Cons.
FYE Mar 2024	2,107	+1.2%	Cons.
FYE Mar 2025	2,189	+3.9%	Cons.
FYE Mar 2026	2,256	+3.1%	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 2,030people

Change · 10 yrs +208 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,822	n/a	Parent
FYE Mar 2018	1,848	+1.4%	Parent
FYE Mar 2019	1,875	+1.5%	Parent
FYE Mar 2020	1,860	−0.8%	Parent
FYE Mar 2021	1,854	−0.3%	Parent
FYE Mar 2022	1,857	+0.2%	Parent
FYE Mar 2023	1,888	+1.7%	Parent
FYE Mar 2024	1,898	+0.5%	Parent
FYE Mar 2025	1,969	+3.7%	Parent
FYE Mar 2026	2,030	+3.1%	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 ¥11.3m

Change · 8 yrs +¥2.3m

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	9.0	n/a	Parent
FYE Mar 2020	9.2	+2.3%	Parent
FYE Mar 2021	9.3	+1.2%	Parent
FYE Mar 2022	9.6	+2.8%	Parent
FYE Mar 2023	10.1	+4.8%	Parent
FYE Mar 2024	10.8	+7.2%	Parent
FYE Mar 2025	11.0	+2.3%	Parent
FYE Mar 2026	11.3	+2.4%	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 35.8years

Change · 8 yrs −0.6 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	36.4	n/a	Parent
FYE Mar 2020	36.5	+0.3%	Parent
FYE Mar 2021	36.4	−0.3%	Parent
FYE Mar 2022	36.2	−0.5%	Parent
FYE Mar 2023	36.1	−0.3%	Parent
FYE Mar 2024	36.1	−0.0%	Parent
FYE Mar 2025	35.9	−0.6%	Parent
FYE Mar 2026	35.8	−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 12.9years

Change · 8 yrs −0.6 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	13.5	n/a	Parent
FYE Mar 2020	13.5	−0.0%	Parent
FYE Mar 2021	13.5	−0.0%	Parent
FYE Mar 2022	13.2	−2.2%	Parent
FYE Mar 2023	13.2	−0.0%	Parent
FYE Mar 2024	13.2	−0.0%	Parent
FYE Mar 2025	13.0	−1.5%	Parent
FYE Mar 2026	12.9	−0.8%	Parent

Definition: How long the average employee has been with the company
Formula: Average years of service, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Mar 2026 ¥59.9m

Change · 10 yrs +¥29.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	30.4	n/a	Cons.
FYE Mar 2018	32.8	+8.2%	Cons.
FYE Mar 2019	36.0	+9.7%	Cons.
FYE Mar 2020	39.2	+8.9%	Cons.
FYE Mar 2021	40.9	+4.3%	Cons.
FYE Mar 2022	43.6	+6.4%	Cons.
FYE Mar 2023	48.1	+10.4%	Cons.
FYE Mar 2024	53.0	+10.1%	Cons.
FYE Mar 2025	55.4	+4.6%	Cons.
FYE Mar 2026	59.9	+8.2%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥39.4m

Change · 10 yrs +¥25.6m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	13.8	n/a	Cons.
FYE Mar 2018	15.9	+15.5%	Cons.
FYE Mar 2019	18.4	+16.0%	Cons.
FYE Mar 2020	21.1	+14.4%	Cons.
FYE Mar 2021	23.5	+11.3%	Cons.
FYE Mar 2022	26.4	+12.3%	Cons.
FYE Mar 2023	30.0	+13.9%	Cons.
FYE Mar 2024	33.7	+12.1%	Cons.
FYE Mar 2025	35.8	+6.4%	Cons.
FYE Mar 2026	39.4	+10.0%	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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