Financials

Future: FYE Dec 2025 and ten years of results (51 metrics)

FYE Dec 2025 · Revenue¥76bnYoY +8.8%

FYE Dec 2025 · Operating profit¥16bnYoY +10.3%

FYE Dec 2025 · Net profit¥12bnYoY +13.5%

FYE Dec 2025 · Equity ratio64.4%YoY +4.1pp

FYE Dec 2025 · Group employees3,624YoY +125

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Dec 2016Consolidated	¥34bn	n/a	¥3.6bn	n/a	10.8%	¥2.2bn	Higashi Yuji	Converts to a holding company; renamed Future Corporation
FYE Dec 2017Consolidated	¥36bn	+7.8%	¥4.5bn	+22.4%	12.3%	¥3.7bn	Kanemaru Yasufumi	Buys Y.D.C. (now Future Artisan) from Yokogawa Electric
FYE Dec 2018Consolidated	¥40bn	+10.9%	¥5.8bn	+30.6%	14.5%	¥4.1bn	Kanemaru Yasufumi	Y.D.C. taken fully in-house; D.I.T. (security) consolidated
FYE Dec 2019Consolidated	¥45bn	+12.9%	¥6.5bn	+12.0%	14.4%	¥4.6bn	Kanemaru Yasufumi	—
FYE Dec 2020Consolidated	¥44bn	−2.4%	¥5.2bn	−19.8%	11.8%	¥3.8bn	Kanemaru Yasufumi	Singapore arm Future Global Design established
FYE Dec 2021Consolidated	¥49bn	+9.9%	¥9.0bn	+71.9%	18.5%	¥6.4bn	Kanemaru Yasufumi	—
FYE Dec 2022Consolidated	¥54bn	+10.3%	¥12bn	+35.8%	22.8%	¥9.2bn	Kanemaru Yasufumi	—
FYE Dec 2023Consolidated	¥59bn	+10.4%	¥14bn	+12.1%	23.1%	¥9.2bn	Kanemaru Yasufumi	—
FYE Dec 2024Consolidated	¥70bn	+17.8%	¥15bn	+7.1%	21.0%	¥10bn	Kanemaru Yasufumi	Acquires Revamp — management-strategy consulting
FYE Dec 2025Consolidated	¥76bn	+8.8%	¥16bn	+10.3%	21.3%	¥12bn	Kanemaru Yasufumi	—

How it compares

Baycurrent¥148bnFY2025Operating margin 34.3%SHIFT¥130bnFY2025Operating margin 12.0%Systena¥94bnFY2025Operating margin 16.3%

Future¥76bnFY2025Operating margin 21.3%

Simplex Holdings¥59bnFY2025Operating margin 24.6%

Dream Incubator¥9bnFY2025Operating margin 20.6%

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 ¥76bn

CAGR · 10 yrs +9.5%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Dec 2016	33.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	36.3	+7.8%	Cons. · Japanese GAAP
FYE Dec 2018	40.2	+10.9%	Cons. · Japanese GAAP
FYE Dec 2019	45.4	+12.9%	Cons. · Japanese GAAP
FYE Dec 2020	44.3	−2.4%	Cons. · Japanese GAAP
FYE Dec 2021	48.7	+9.9%	Cons. · Japanese GAAP
FYE Dec 2022	53.7	+10.3%	Cons. · Japanese GAAP
FYE Dec 2023	59.3	+10.4%	Cons. · Japanese GAAP
FYE Dec 2024	69.9	+17.8%	Cons. · Japanese GAAP
FYE Dec 2025	76.0	+8.8%	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 ¥39bn

CAGR · 10 yrs +7.6%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Dec 2016	20.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	21.5	+6.4%	Cons. · Japanese GAAP
FYE Dec 2018	23.6	+9.8%	Cons. · Japanese GAAP
FYE Dec 2019	26.5	+12.0%	Cons. · Japanese GAAP
FYE Dec 2020	26.2	−0.9%	Cons. · Japanese GAAP
FYE Dec 2021	26.1	−0.4%	Cons. · Japanese GAAP
FYE Dec 2022	27.1	+3.6%	Cons. · Japanese GAAP
FYE Dec 2023	30.5	+12.7%	Cons. · Japanese GAAP
FYE Dec 2024	36.2	+18.5%	Cons. · Japanese GAAP
FYE Dec 2025	39.0	+7.8%	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 ¥37bn

CAGR · 10 yrs +11.9%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Dec 2016	13.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	14.7	+9.8%	Cons. · Japanese GAAP
FYE Dec 2018	16.6	+12.4%	Cons. · Japanese GAAP
FYE Dec 2019	18.9	+14.1%	Cons. · Japanese GAAP
FYE Dec 2020	18.1	−4.5%	Cons. · Japanese GAAP
FYE Dec 2021	22.6	+24.8%	Cons. · Japanese GAAP
FYE Dec 2022	26.7	+18.2%	Cons. · Japanese GAAP
FYE Dec 2023	28.8	+8.1%	Cons. · Japanese GAAP
FYE Dec 2024	33.7	+17.0%	Cons. · Japanese GAAP
FYE Dec 2025	37.0	+9.8%	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 ¥21bn

CAGR · 10 yrs +8.8%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Dec 2016	9.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	10.3	+5.2%	Cons. · Japanese GAAP
FYE Dec 2018	10.8	+4.6%	Cons. · Japanese GAAP
FYE Dec 2019	12.4	+15.3%	Cons. · Japanese GAAP
FYE Dec 2020	12.8	+3.5%	Cons. · Japanese GAAP
FYE Dec 2021	13.6	+5.6%	Cons. · Japanese GAAP
FYE Dec 2022	14.4	+6.5%	Cons. · Japanese GAAP
FYE Dec 2023	15.1	+4.7%	Cons. · Japanese GAAP
FYE Dec 2024	19.0	+26.0%	Cons. · Japanese GAAP
FYE Dec 2025	20.8	+9.3%	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 ¥16bn

CAGR · 10 yrs +18.0%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Dec 2016	3.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.5	+22.4%	Cons. · Japanese GAAP
FYE Dec 2018	5.8	+30.6%	Cons. · Japanese GAAP
FYE Dec 2019	6.5	+12.0%	Cons. · Japanese GAAP
FYE Dec 2020	5.2	−19.8%	Cons. · Japanese GAAP
FYE Dec 2021	9.0	+71.9%	Cons. · Japanese GAAP
FYE Dec 2022	12.2	+35.8%	Cons. · Japanese GAAP
FYE Dec 2023	13.7	+12.1%	Cons. · Japanese GAAP
FYE Dec 2024	14.7	+7.1%	Cons. · Japanese GAAP
FYE Dec 2025	16.2	+10.3%	Cons. · Japanese GAAP

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

Non-operating income

FYE Dec 2025 ¥830m

CAGR · 10 yrs +36.3%

Fiscal year	Non-operating income ¥ m	YoY	Basis
FYE Dec 2016	51.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	305	+496.5%	Cons. · Japanese GAAP
FYE Dec 2018	236	−22.7%	Cons. · Japanese GAAP
FYE Dec 2019	192	−18.5%	Cons. · Japanese GAAP
FYE Dec 2020	204	+6.0%	Cons. · Japanese GAAP
FYE Dec 2021	291	+42.7%	Cons. · Japanese GAAP
FYE Dec 2022	415	+42.6%	Cons. · Japanese GAAP
FYE Dec 2023	419	+1.0%	Cons. · Japanese GAAP
FYE Dec 2024	794	+89.5%	Cons. · Japanese GAAP
FYE Dec 2025	830	+4.5%	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 ¥334m

CAGR · 10 yrs +13.8%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Dec 2016	104	n/a	Cons. · Japanese GAAP
FYE Dec 2017	7.1	−93.2%	Cons. · Japanese GAAP
FYE Dec 2018	8.3	+16.6%	Cons. · Japanese GAAP
FYE Dec 2019	5.1	−38.0%	Cons. · Japanese GAAP
FYE Dec 2020	1.0	−80.7%	Cons. · Japanese GAAP
FYE Dec 2021	2.0	+102.0%	Cons. · Japanese GAAP
FYE Dec 2022	70.0	+3400.0%	Cons. · Japanese GAAP
FYE Dec 2023	32.0	−54.3%	Cons. · Japanese GAAP
FYE Dec 2024	510	+1493.8%	Cons. · Japanese GAAP
FYE Dec 2025	334	−34.5%	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 ¥17bn

CAGR · 10 yrs +18.6%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Dec 2016	3.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.8	+32.5%	Cons. · Japanese GAAP
FYE Dec 2018	6.1	+27.2%	Cons. · Japanese GAAP
FYE Dec 2019	6.7	+10.9%	Cons. · Japanese GAAP
FYE Dec 2020	5.4	−19.0%	Cons. · Japanese GAAP
FYE Dec 2021	9.3	+70.8%	Cons. · Japanese GAAP
FYE Dec 2022	12.6	+35.3%	Cons. · Japanese GAAP
FYE Dec 2023	14.1	+12.1%	Cons. · Japanese GAAP
FYE Dec 2024	15.0	+6.1%	Cons. · Japanese GAAP
FYE Dec 2025	16.7	+11.5%	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 ¥850m

CAGR · 9 yrs +13.6%

Fiscal year	Extraordinary income ¥ m	YoY	Basis
FYE Dec 2016	306	n/a	Cons. · Japanese GAAP
FYE Dec 2017	174	−43.2%	Cons. · Japanese GAAP
FYE Dec 2018	929	+434.4%	Cons. · Japanese GAAP
FYE Dec 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2020	93.3	n/a	Cons. · Japanese GAAP
FYE Dec 2021	7.0	−92.5%	Cons. · Japanese GAAP
FYE Dec 2022	732	+10357.1%	Cons. · Japanese GAAP
FYE Dec 2023	0.0	−100.0%	Cons. · Japanese GAAP
FYE Dec 2024	564	n/a	Cons. · Japanese GAAP
FYE Dec 2025	850	+50.7%	Cons. · Japanese GAAP

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

Extraordinary loss

FYE Dec 2025 n/a

CAGR · 8 yrs +0.4%

Fiscal year	Extraordinary loss ¥ m	YoY	Basis
FYE Dec 2016	503	n/a	Cons. · Japanese GAAP
FYE Dec 2017	93.3	−81.5%	Cons. · Japanese GAAP
FYE Dec 2018	800	+757.6%	Cons. · Japanese GAAP
FYE Dec 2019	233	−70.8%	Cons. · Japanese GAAP
FYE Dec 2020	0.7	−99.7%	Cons. · Japanese GAAP
FYE Dec 2021	112	+16370.6%	Cons. · Japanese GAAP
FYE Dec 2022	40.0	−64.3%	Cons. · Japanese GAAP
FYE Dec 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2024	517	n/a	Cons. · Japanese GAAP
FYE Dec 2025	n/a	n/a	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 Dec 2025 ¥12bn

CAGR · 10 yrs +20.4%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Dec 2016	2.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	3.7	+69.1%	Cons. · Japanese GAAP
FYE Dec 2018	4.1	+9.7%	Cons. · Japanese GAAP
FYE Dec 2019	4.6	+11.3%	Cons. · Japanese GAAP
FYE Dec 2020	3.8	−16.7%	Cons. · Japanese GAAP
FYE Dec 2021	6.4	+67.8%	Cons. · Japanese GAAP
FYE Dec 2022	9.2	+45.1%	Cons. · Japanese GAAP
FYE Dec 2023	9.2	−0.2%	Cons. · Japanese GAAP
FYE Dec 2024	10.3	+11.9%	Cons. · Japanese GAAP
FYE Dec 2025	11.7	+13.5%	Cons. · Japanese GAAP

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

Gross margin

FYE Dec 2025 48.7%

Average · 10 yrs 44.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Dec 2016	39.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	40.6	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2018	41.2	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2019	41.7	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2020	40.8	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2021	46.3	+5.5pp	Cons. · Japanese GAAP
FYE Dec 2022	49.6	+3.3pp	Cons. · Japanese GAAP
FYE Dec 2023	48.6	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2024	48.2	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2025	48.7	+0.4pp	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 21.3%

Average · 10 yrs 17.0%

Fiscal year	Operating margin %	YoY	Basis
FYE Dec 2016	10.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	12.3	+1.5pp	Cons. · Japanese GAAP
FYE Dec 2018	14.5	+2.2pp	Cons. · Japanese GAAP
FYE Dec 2019	14.4	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2020	11.8	−2.6pp	Cons. · Japanese GAAP
FYE Dec 2021	18.5	+6.7pp	Cons. · Japanese GAAP
FYE Dec 2022	22.8	+4.3pp	Cons. · Japanese GAAP
FYE Dec 2023	23.1	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2024	21.0	−2.1pp	Cons. · Japanese GAAP
FYE Dec 2025	21.3	+0.3pp	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 21.9%

Average · 10 yrs 17.5%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Dec 2016	10.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	13.1	+2.4pp	Cons. · Japanese GAAP
FYE Dec 2018	15.0	+1.9pp	Cons. · Japanese GAAP
FYE Dec 2019	14.8	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2020	12.3	−2.5pp	Cons. · Japanese GAAP
FYE Dec 2021	19.1	+6.8pp	Cons. · Japanese GAAP
FYE Dec 2022	23.4	+4.3pp	Cons. · Japanese GAAP
FYE Dec 2023	23.7	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2024	21.4	−2.4pp	Cons. · Japanese GAAP
FYE Dec 2025	21.9	+0.5pp	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 Dec 2025 15.4%

Average · 10 yrs 12.2%

Fiscal year	Net margin %	YoY	Basis
FYE Dec 2016	6.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	10.3	+3.7pp	Cons. · Japanese GAAP
FYE Dec 2018	10.2	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2019	10.0	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2020	8.6	−1.5pp	Cons. · Japanese GAAP
FYE Dec 2021	13.1	+4.5pp	Cons. · Japanese GAAP
FYE Dec 2022	17.2	+4.1pp	Cons. · Japanese GAAP
FYE Dec 2023	15.5	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2024	14.8	−0.8pp	Cons. · Japanese GAAP
FYE Dec 2025	15.4	+0.6pp	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 51.3%

Average · 10 yrs 55.4%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Dec 2016	60.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	59.4	−0.8pp	Cons. · Japanese GAAP
FYE Dec 2018	58.8	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2019	58.3	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2020	59.2	+0.9pp	Cons. · Japanese GAAP
FYE Dec 2021	53.7	−5.5pp	Cons. · Japanese GAAP
FYE Dec 2022	50.4	−3.3pp	Cons. · Japanese GAAP
FYE Dec 2023	51.4	+1.0pp	Cons. · Japanese GAAP
FYE Dec 2024	51.8	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2025	51.3	−0.4pp	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 27.4%

Average · 10 yrs 27.5%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Dec 2016	29.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	28.4	−0.7pp	Cons. · Japanese GAAP
FYE Dec 2018	26.7	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2019	27.3	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2020	29.0	+1.6pp	Cons. · Japanese GAAP
FYE Dec 2021	27.8	−1.1pp	Cons. · Japanese GAAP
FYE Dec 2022	26.8	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2023	25.5	−1.4pp	Cons. · Japanese GAAP
FYE Dec 2024	27.2	+1.8pp	Cons. · Japanese GAAP
FYE Dec 2025	27.4	+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 ¥97bn

CAGR · 10 yrs +17.4%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Dec 2016	23.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	32.5	+41.0%	Cons. · Japanese GAAP
FYE Dec 2018	37.2	+14.5%	Cons. · Japanese GAAP
FYE Dec 2019	39.0	+4.8%	Cons. · Japanese GAAP
FYE Dec 2020	49.8	+27.6%	Cons. · Japanese GAAP
FYE Dec 2021	54.5	+9.4%	Cons. · Japanese GAAP
FYE Dec 2022	58.0	+6.4%	Cons. · Japanese GAAP
FYE Dec 2023	66.0	+13.9%	Cons. · Japanese GAAP
FYE Dec 2024	92.0	+39.4%	Cons. · Japanese GAAP
FYE Dec 2025	97.5	+5.9%	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 ¥63bn

CAGR · 10 yrs +15.4%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Dec 2016	17.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	24.0	+38.7%	Cons. · Japanese GAAP
FYE Dec 2018	28.0	+16.7%	Cons. · Japanese GAAP
FYE Dec 2019	30.3	+8.2%	Cons. · Japanese GAAP
FYE Dec 2020	38.2	+26.0%	Cons. · Japanese GAAP
FYE Dec 2021	41.8	+9.5%	Cons. · Japanese GAAP
FYE Dec 2022	44.8	+7.2%	Cons. · Japanese GAAP
FYE Dec 2023	51.4	+14.6%	Cons. · Japanese GAAP
FYE Dec 2024	55.5	+8.0%	Cons. · Japanese GAAP
FYE Dec 2025	62.8	+13.1%	Cons. · Japanese GAAP

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

Interest-bearing debt

FYE Dec 2025 ¥15bn

CAGR · 9 yrs +40.3%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Dec 2016	1.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.0	−0.0%	Cons. · Japanese GAAP
FYE Dec 2018	0.4	−61.6%	Cons. · Japanese GAAP
FYE Dec 2019	0.0	−96.1%	Cons. · Japanese GAAP
FYE Dec 2020	0.0	−77.6%	Cons. · Japanese GAAP
FYE Dec 2021	0.0	−100.0%	Cons. · Japanese GAAP
FYE Dec 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2023	0.0	n/a	Cons. · Japanese GAAP
FYE Dec 2024	17.9	n/a	Cons. · Japanese GAAP
FYE Dec 2025	15.0	−16.0%	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 ¥2.9bn

CAGR · 6 yrs +23.4%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.0	n/a	Cons. · Japanese GAAP
FYE Dec 2018	0.2	−83.9%	Cons. · Japanese GAAP
FYE Dec 2019	0.0	−92.9%	Cons. · Japanese GAAP
FYE Dec 2020	0.0	−71.1%	Cons. · Japanese GAAP
FYE Dec 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2024	2.9	n/a	Cons. · Japanese GAAP
FYE Dec 2025	2.9	−0.0%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Dec 2025 ¥12bn

CAGR · 5 yrs +86.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	1.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2018	0.2	n/a	Cons. · Japanese GAAP
FYE Dec 2019	0.0	−98.5%	Cons. · Japanese GAAP
FYE Dec 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2024	15.0	n/a	Cons. · Japanese GAAP
FYE Dec 2025	12.1	−19.0%	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 ¥23bn

CAGR · 10 yrs +47.5%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Dec 2016	0.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	3.2	+348.7%	Cons. · Japanese GAAP
FYE Dec 2018	2.6	−18.0%	Cons. · Japanese GAAP
FYE Dec 2019	2.5	−4.0%	Cons. · Japanese GAAP
FYE Dec 2020	2.2	−13.3%	Cons. · Japanese GAAP
FYE Dec 2021	2.1	−0.6%	Cons. · Japanese GAAP
FYE Dec 2022	3.8	+76.7%	Cons. · Japanese GAAP
FYE Dec 2023	5.7	+50.5%	Cons. · Japanese GAAP
FYE Dec 2024	25.5	+348.6%	Cons. · Japanese GAAP
FYE Dec 2025	23.3	−8.8%	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 ¥10bn

CAGR · 10 yrs +45.9%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Dec 2016	0.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.7	+87.4%	Cons. · Japanese GAAP
FYE Dec 2018	0.0	−93.8%	Cons. · Japanese GAAP
FYE Dec 2019	0.2	+339.3%	Cons. · Japanese GAAP
FYE Dec 2020	0.1	−22.3%	Cons. · Japanese GAAP
FYE Dec 2021	0.0	−92.8%	Cons. · Japanese GAAP
FYE Dec 2022	0.4	+3910.0%	Cons. · Japanese GAAP
FYE Dec 2023	1.1	+170.1%	Cons. · Japanese GAAP
FYE Dec 2024	11.2	+931.2%	Cons. · Japanese GAAP
FYE Dec 2025	10.5	−6.2%	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 64.4%

Average · 10 yrs 73.5%

Fiscal year	Equity ratio %	YoY	Basis
FYE Dec 2016	75.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	73.8	−1.2pp	Cons. · Japanese GAAP
FYE Dec 2018	75.2	+1.4pp	Cons. · Japanese GAAP
FYE Dec 2019	77.6	+2.4pp	Cons. · Japanese GAAP
FYE Dec 2020	76.6	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2021	76.7	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2022	77.3	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2023	77.8	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2024	60.3	−17.5pp	Cons. · Japanese GAAP
FYE Dec 2025	64.4	+4.1pp	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 23.9%

Average · 9 yrs 7.5%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Dec 2016	5.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.2	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2018	1.4	−2.8pp	Cons. · Japanese GAAP
FYE Dec 2019	0.0	−1.3pp	Cons. · Japanese GAAP
FYE Dec 2020	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2021	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2023	0.0	n/a	Cons. · Japanese GAAP
FYE Dec 2024	32.2	+32.2pp	Cons. · Japanese GAAP
FYE Dec 2025	23.9	−8.3pp	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 18.7%

Average · 10 yrs 15.9%

Fiscal year	ROE %	YoY	Basis
FYE Dec 2016	12.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	15.6	+2.8pp	Cons. · Japanese GAAP
FYE Dec 2018	14.6	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2019	15.0	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2020	9.9	−5.1pp	Cons. · Japanese GAAP
FYE Dec 2021	15.2	+5.3pp	Cons. · Japanese GAAP
FYE Dec 2022	20.6	+5.4pp	Cons. · Japanese GAAP
FYE Dec 2023	17.9	−2.7pp	Cons. · Japanese GAAP
FYE Dec 2024	18.6	+0.7pp	Cons. · Japanese GAAP
FYE Dec 2025	18.7	+0.1pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Dec 2025 12.0%

Average · 10 yrs 11.6%

Fiscal year	ROA %	YoY	Basis
FYE Dec 2016	9.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	11.5	+1.9pp	Cons. · Japanese GAAP
FYE Dec 2018	11.0	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2019	11.7	+0.7pp	Cons. · Japanese GAAP
FYE Dec 2020	7.6	−4.1pp	Cons. · Japanese GAAP
FYE Dec 2021	11.7	+4.1pp	Cons. · Japanese GAAP
FYE Dec 2022	15.9	+4.2pp	Cons. · Japanese GAAP
FYE Dec 2023	14.0	−2.0pp	Cons. · Japanese GAAP
FYE Dec 2024	11.2	−2.7pp	Cons. · Japanese GAAP
FYE Dec 2025	12.0	+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 0.78×

CAGR · 10 yrs −6.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Dec 2016	1.46	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.12	−23.6%	Cons. · Japanese GAAP
FYE Dec 2018	1.08	−3.2%	Cons. · Japanese GAAP
FYE Dec 2019	1.16	+7.7%	Cons. · Japanese GAAP
FYE Dec 2020	0.89	−23.5%	Cons. · Japanese GAAP
FYE Dec 2021	0.89	+0.5%	Cons. · Japanese GAAP
FYE Dec 2022	0.93	+3.7%	Cons. · Japanese GAAP
FYE Dec 2023	0.90	−3.1%	Cons. · Japanese GAAP
FYE Dec 2024	0.76	−15.5%	Cons. · Japanese GAAP
FYE Dec 2025	0.78	+2.7%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Dec 2025 ¥8.7bn

CAGR · 10 yrs +11.4%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Dec 2016	3.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	2.5	−24.8%	Cons. · Japanese GAAP
FYE Dec 2018	8.0	+223.9%	Cons. · Japanese GAAP
FYE Dec 2019	5.0	−37.2%	Cons. · Japanese GAAP
FYE Dec 2020	4.5	−11.0%	Cons. · Japanese GAAP
FYE Dec 2021	9.6	+115.9%	Cons. · Japanese GAAP
FYE Dec 2022	10.2	+5.9%	Cons. · Japanese GAAP
FYE Dec 2023	7.6	−25.6%	Cons. · Japanese GAAP
FYE Dec 2024	10.7	+41.2%	Cons. · Japanese GAAP
FYE Dec 2025	8.7	−18.9%	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 -¥1.4bn

Average · 10 yrs -¥3.5bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-0.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-3.5	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-1.2	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-1.9	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-0.7	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-1.7	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-1.0	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-3.0	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-20.4	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-1.4	n/a	Cons. · Japanese GAAP

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

Financing cash flow

FYE Dec 2025 -¥6.9bn

Average · 10 yrs -¥1.2bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-1.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-1.2	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-2.3	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-2.1	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-2.7	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-2.5	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-3.0	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-3.9	n/a	Cons. · Japanese GAAP
FYE Dec 2024	13.8	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-6.9	−149.8%	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 ¥33bn

CAGR · 10 yrs +12.1%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Dec 2016	11.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	9.5	−19.4%	Cons. · Japanese GAAP
FYE Dec 2018	13.9	+46.7%	Cons. · Japanese GAAP
FYE Dec 2019	14.9	+7.3%	Cons. · Japanese GAAP
FYE Dec 2020	16.0	+7.2%	Cons. · Japanese GAAP
FYE Dec 2021	21.4	+33.9%	Cons. · Japanese GAAP
FYE Dec 2022	27.6	+28.6%	Cons. · Japanese GAAP
FYE Dec 2023	28.2	+2.4%	Cons. · Japanese GAAP
FYE Dec 2024	32.4	+14.7%	Cons. · Japanese GAAP
FYE Dec 2025	32.8	+1.3%	Cons. · Japanese GAAP

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

Free cash flow

FYE Dec 2025 ¥7.3bn

CAGR · 10 yrs +9.4%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Dec 2016	3.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-1.1	−133.2%	Cons. · Japanese GAAP
FYE Dec 2018	6.8	n/a	Cons. · Japanese GAAP
FYE Dec 2019	3.1	−53.5%	Cons. · Japanese GAAP
FYE Dec 2020	3.8	+20.3%	Cons. · Japanese GAAP
FYE Dec 2021	7.9	+109.2%	Cons. · Japanese GAAP
FYE Dec 2022	9.2	+15.7%	Cons. · Japanese GAAP
FYE Dec 2023	4.5	−50.5%	Cons. · Japanese GAAP
FYE Dec 2024	-9.7	−314.2%	Cons. · Japanese GAAP
FYE Dec 2025	7.3	n/a	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 11.4%

Average · 10 yrs 13.5%

Fiscal year	OCF margin %	YoY	Basis
FYE Dec 2016	9.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	6.8	−2.9pp	Cons. · Japanese GAAP
FYE Dec 2018	19.8	+13.0pp	Cons. · Japanese GAAP
FYE Dec 2019	11.0	−8.8pp	Cons. · Japanese GAAP
FYE Dec 2020	10.0	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2021	19.7	+9.7pp	Cons. · Japanese GAAP
FYE Dec 2022	18.9	−0.8pp	Cons. · Japanese GAAP
FYE Dec 2023	12.8	−6.2pp	Cons. · Japanese GAAP
FYE Dec 2024	15.3	+2.5pp	Cons. · Japanese GAAP
FYE Dec 2025	11.4	−3.9pp	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 ¥18bn

CAGR · 9 yrs +6.5%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Dec 2016	10.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	8.5	−21.2%	Cons. · Japanese GAAP
FYE Dec 2018	13.5	+59.5%	Cons. · Japanese GAAP
FYE Dec 2019	14.9	+10.3%	Cons. · Japanese GAAP
FYE Dec 2020	16.0	+7.3%	Cons. · Japanese GAAP
FYE Dec 2021	21.4	+33.9%	Cons. · Japanese GAAP
FYE Dec 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2023	28.2	n/a	Cons. · Japanese GAAP
FYE Dec 2024	14.5	−48.5%	Cons. · Japanese GAAP
FYE Dec 2025	17.8	+22.6%	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Dec 2025 ¥189bn

Change · 10 yrs +¥154bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Dec 2016	34.6	n/a
FYE Dec 2017	58.1	n/a
FYE Dec 2018	70.8	n/a
FYE Dec 2019	86.5	n/a
FYE Dec 2020	84.1	n/a
FYE Dec 2021	167	n/a
FYE Dec 2022	157	n/a
FYE Dec 2023	168	n/a
FYE Dec 2024	177	n/a
FYE Dec 2025	189	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 1,983¥

Change · 10 yrs +1,258¥

Fiscal year	Share price ¥	Basis
FYE Dec 2016	725	n/a
FYE Dec 2017	1,219	n/a
FYE Dec 2018	1,486	n/a
FYE Dec 2019	1,816	n/a
FYE Dec 2020	1,763	n/a
FYE Dec 2021	3,506	n/a
FYE Dec 2022	1,646	n/a
FYE Dec 2023	1,765	n/a
FYE Dec 2024	1,852	n/a
FYE Dec 2025	1,983	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 95,328,000shares

Change · 10 yrs +47,664,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Dec 2016	47,664,000	Parent
FYE Dec 2017	47,664,000	Parent
FYE Dec 2018	47,664,000	Parent
FYE Dec 2019	47,664,000	Parent
FYE Dec 2020	47,664,000	Parent
FYE Dec 2021	47,664,000	Parent
FYE Dec 2022	95,328,000	Parent
FYE Dec 2023	95,328,000	Parent
FYE Dec 2024	95,328,000	Parent
FYE Dec 2025	95,328,000	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 132.11¥

Change · 10 yrs +82.71¥

Fiscal year	EPS ¥	Basis
FYE Dec 2016	49.40	Cons.
FYE Dec 2017	41.76	Cons.
FYE Dec 2018	45.80	Cons.
FYE Dec 2019	50.97	Cons.
FYE Dec 2020	42.74	Cons.
FYE Dec 2021	71.97	Cons.
FYE Dec 2022	104.34	Cons.
FYE Dec 2023	104.12	Cons.
FYE Dec 2024	116.49	Cons.
FYE Dec 2025	132.11	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 658.31¥

Change · 10 yrs +295.29¥

Fiscal year	BPS ¥	Basis
FYE Dec 2016	363.02	Cons. · Japanese GAAP
FYE Dec 2017	503.54	Cons. · Japanese GAAP
FYE Dec 2018	587.62	Cons. · Japanese GAAP
FYE Dec 2019	635.62	Cons. · Japanese GAAP
FYE Dec 2020	800.91	Cons. · Japanese GAAP
FYE Dec 2021	876.99	Cons. · Japanese GAAP
FYE Dec 2022	470.26	Cons. · Japanese GAAP
FYE Dec 2023	539.05	Cons. · Japanese GAAP
FYE Dec 2024	582.09	Cons. · Japanese GAAP
FYE Dec 2025	658.31	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Dec 2025 15.01×

Average · 10 yrs 17.19×

Fiscal year	PER ×	Basis
FYE Dec 2016	14.68	Cons.
FYE Dec 2017	14.60	Cons.
FYE Dec 2018	16.22	Cons.
FYE Dec 2019	17.81	Cons.
FYE Dec 2020	20.63	Cons.
FYE Dec 2021	24.36	Cons.
FYE Dec 2022	15.78	Cons.
FYE Dec 2023	16.95	Cons.
FYE Dec 2024	15.90	Cons.
FYE Dec 2025	15.01	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 2.80×

Average · 10 yrs 2.70×

Fiscal year	PBR ×	Basis
FYE Dec 2016	1.87	Cons.
FYE Dec 2017	2.27	Cons.
FYE Dec 2018	2.37	Cons.
FYE Dec 2019	2.68	Cons.
FYE Dec 2020	2.04	Cons.
FYE Dec 2021	3.71	Cons.
FYE Dec 2022	3.25	Cons.
FYE Dec 2023	3.04	Cons.
FYE Dec 2024	2.96	Cons.
FYE Dec 2025	2.80	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 3,624people

Change · 10 yrs +2,131 people

Fiscal year	Group employees people	YoY	Basis
FYE Dec 2016	1,493	n/a	Cons.
FYE Dec 2017	1,847	+23.7%	Cons.
FYE Dec 2018	1,984	+7.4%	Cons.
FYE Dec 2019	2,142	+8.0%	Cons.
FYE Dec 2020	2,281	+6.5%	Cons.
FYE Dec 2021	2,450	+7.4%	Cons.
FYE Dec 2022	2,671	+9.0%	Cons.
FYE Dec 2023	2,948	+10.4%	Cons.
FYE Dec 2024	3,499	+18.7%	Cons.
FYE Dec 2025	3,624	+3.6%	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 377people

Change · 10 yrs +353 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Dec 2016	24	n/a	Parent
FYE Dec 2017	34	+41.7%	Parent
FYE Dec 2018	182	+435.3%	Parent
FYE Dec 2019	259	+42.3%	Parent
FYE Dec 2020	312	+20.5%	Parent
FYE Dec 2021	392	+25.6%	Parent
FYE Dec 2022	336	−14.3%	Parent
FYE Dec 2023	219	−34.8%	Parent
FYE Dec 2024	331	+51.1%	Parent
FYE Dec 2025	377	+13.9%	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 Dec 2025 ¥7.9m

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	8.2	n/a	Parent
FYE Dec 2020	8.1	−1.8%	Parent
FYE Dec 2021	7.9	−1.6%	Parent
FYE Dec 2022	7.3	−7.5%	Parent
FYE Dec 2023	8.0	+8.5%	Parent
FYE Dec 2024	8.0	+0.1%	Parent
FYE Dec 2025	7.9	−0.4%	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 Dec 2025 36.5years

Change · 7 yrs +2.0 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	34.5	n/a	Parent
FYE Dec 2020	34.7	+0.6%	Parent
FYE Dec 2021	34.0	−2.0%	Parent
FYE Dec 2022	33.6	−1.2%	Parent
FYE Dec 2023	36.1	+7.4%	Parent
FYE Dec 2024	36.5	+1.1%	Parent
FYE Dec 2025	36.5	−0.0%	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 6.0years

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	5.4	n/a	Parent
FYE Dec 2020	5.7	+5.6%	Parent
FYE Dec 2021	5.6	−1.8%	Parent
FYE Dec 2022	4.4	−21.4%	Parent
FYE Dec 2023	5.9	+34.1%	Parent
FYE Dec 2024	5.8	−1.7%	Parent
FYE Dec 2025	6.0	+3.4%	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 Dec 2025 218people

Change · 10 yrs +69 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Dec 2016	149	n/a	n/a
FYE Dec 2017	157	+5.4%	n/a
FYE Dec 2018	150	−4.5%	n/a
FYE Dec 2019	168	+12.0%	n/a
FYE Dec 2020	195	+16.1%	n/a
FYE Dec 2021	200	+2.6%	n/a
FYE Dec 2022	204	+2.0%	n/a
FYE Dec 2023	212	+3.9%	n/a
FYE Dec 2024	215	+1.4%	n/a
FYE Dec 2025	218	+1.4%	n/a

Definition: Average number of temporary and part-time staff over the year
Formula: Average temporary headcount, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Dec 2025 ¥21.0m

Change · 10 yrs −¥1.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Dec 2016	22.5	n/a	Cons.
FYE Dec 2017	19.6	−12.9%	Cons.
FYE Dec 2018	20.3	+3.2%	Cons.
FYE Dec 2019	21.2	+4.5%	Cons.
FYE Dec 2020	19.4	−8.3%	Cons.
FYE Dec 2021	19.9	+2.3%	Cons.
FYE Dec 2022	20.1	+1.2%	Cons.
FYE Dec 2023	20.1	−0.0%	Cons.
FYE Dec 2024	20.0	−0.8%	Cons.
FYE Dec 2025	21.0	+5.0%	Cons.

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

Operating profit per employee

FYE Dec 2025 ¥4.5m

Change · 10 yrs +¥2.0m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Dec 2016	2.4	n/a	Cons.
FYE Dec 2017	2.4	−1.1%	Cons.
FYE Dec 2018	2.9	+21.6%	Cons.
FYE Dec 2019	3.0	+3.7%	Cons.
FYE Dec 2020	2.3	−24.6%	Cons.
FYE Dec 2021	3.7	+60.1%	Cons.
FYE Dec 2022	4.6	+24.6%	Cons.
FYE Dec 2023	4.6	+1.5%	Cons.
FYE Dec 2024	4.2	−9.8%	Cons.
FYE Dec 2025	4.5	+6.5%	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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