Financials

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

FYE Dec 2025 · Revenue¥1.32tnYoY +19.4%

FYE Dec 2025 · Operating profit¥90bnYoY +21.0%

FYE Dec 2025 · Net profit¥64bnYoY +20.2%

FYE Dec 2025 · Equity ratio54.1%YoY −0.9pp

FYE Dec 2025 · Group employees10,079YoY +399

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Dec 2016Consolidated	¥643bn	n/a	¥40bn	n/a	6.2%	¥27bn	Otsuka Yuji	—
FYE Dec 2017Consolidated	¥691bn	+7.4%	¥44bn	+11.8%	6.4%	¥32bn	Otsuka Yuji	—
FYE Dec 2018Consolidated	¥760bn	+9.9%	¥48bn	+8.3%	6.3%	¥34bn	Otsuka Yuji	—
FYE Dec 2019Consolidated	¥887bn	+16.7%	¥62bn	+29.4%	7.0%	¥43bn	Otsuka Yuji	—
FYE Dec 2020Consolidated	¥836bn	−5.7%	¥56bn	−9.5%	6.7%	¥39bn	Otsuka Yuji	DX promotion committee established
FYE Dec 2021Consolidated	¥852bn	+1.9%	¥56bn	−0.9%	6.6%	¥40bn	Otsuka Yuji	Certified as a DX-Certified Business Operator
FYE Dec 2022Consolidated	¥861bn	+1.1%	¥55bn	−1.9%	6.4%	¥40bn	Otsuka Yuji	Moves to the TSE Prime Market
FYE Dec 2023Consolidated	¥977bn	+13.5%	¥63bn	+15.0%	6.4%	¥47bn	Otsuka Yuji	—
FYE Dec 2024Consolidated	¥1.11tn	+13.3%	¥74bn	+18.1%	6.7%	¥53bn	Otsuka Yuji	—
FYE Dec 2025Consolidated	¥1.32tn	+19.4%	¥90bn	+21.0%	6.8%	¥64bn	Otsuka Yuji	Revenue ¥1,322.8bn — 2.6× the FY2012 level

How it compares

Daiwabo Holdings¥1.35tnFY2025Operating margin 3.3%

Otsuka Corporation¥1.32tnFY2025Operating margin 6.8%

Uchidayoukou¥337bnFY2025Operating margin 3.6%

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 ¥1.32tn

CAGR · 10 yrs +8.3%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Dec 2016	643	n/a	Cons. · Japanese GAAP
FYE Dec 2017	691	+7.4%	Cons. · Japanese GAAP
FYE Dec 2018	760	+9.9%	Cons. · Japanese GAAP
FYE Dec 2019	887	+16.7%	Cons. · Japanese GAAP
FYE Dec 2020	836	−5.7%	Cons. · Japanese GAAP
FYE Dec 2021	852	+1.9%	Cons. · Japanese GAAP
FYE Dec 2022	861	+1.1%	Cons. · Japanese GAAP
FYE Dec 2023	977	+13.5%	Cons. · Japanese GAAP
FYE Dec 2024	1,108	+13.3%	Cons. · Japanese GAAP
FYE Dec 2025	1,323	+19.4%	Cons. · Japanese GAAP

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

Cost of sales

FYE Dec 2025 ¥1.07tn

CAGR · 10 yrs +8.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Dec 2016	503	n/a	Cons. · Japanese GAAP
FYE Dec 2017	541	+7.5%	Cons. · Japanese GAAP
FYE Dec 2018	602	+11.2%	Cons. · Japanese GAAP
FYE Dec 2019	707	+17.4%	Cons. · Japanese GAAP
FYE Dec 2020	663	−6.2%	Cons. · Japanese GAAP
FYE Dec 2021	675	+1.9%	Cons. · Japanese GAAP
FYE Dec 2022	677	+0.3%	Cons. · Japanese GAAP
FYE Dec 2023	773	+14.3%	Cons. · Japanese GAAP
FYE Dec 2024	883	+14.2%	Cons. · Japanese GAAP
FYE Dec 2025	1,071	+21.2%	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 ¥252bn

CAGR · 10 yrs +6.8%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Dec 2016	140	n/a	Cons. · Japanese GAAP
FYE Dec 2017	150	+7.0%	Cons. · Japanese GAAP
FYE Dec 2018	158	+5.3%	Cons. · Japanese GAAP
FYE Dec 2019	180	+14.1%	Cons. · Japanese GAAP
FYE Dec 2020	174	−3.5%	Cons. · Japanese GAAP
FYE Dec 2021	177	+1.8%	Cons. · Japanese GAAP
FYE Dec 2022	184	+4.1%	Cons. · Japanese GAAP
FYE Dec 2023	204	+10.8%	Cons. · Japanese GAAP
FYE Dec 2024	224	+10.0%	Cons. · Japanese GAAP
FYE Dec 2025	252	+12.3%	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 ¥162bn

CAGR · 10 yrs +5.5%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Dec 2016	100	n/a	Cons. · Japanese GAAP
FYE Dec 2017	105	+5.1%	Cons. · Japanese GAAP
FYE Dec 2018	110	+4.1%	Cons. · Japanese GAAP
FYE Dec 2019	118	+7.3%	Cons. · Japanese GAAP
FYE Dec 2020	117	−0.3%	Cons. · Japanese GAAP
FYE Dec 2021	121	+3.1%	Cons. · Japanese GAAP
FYE Dec 2022	129	+6.9%	Cons. · Japanese GAAP
FYE Dec 2023	141	+9.0%	Cons. · Japanese GAAP
FYE Dec 2024	150	+6.4%	Cons. · Japanese GAAP
FYE Dec 2025	162	+8.1%	Cons. · Japanese GAAP

Definition: The cost of selling and of running the company
Formula: SG&A line of the income statement
Source: Securities report (XBRL)

Operating profit

FYE Dec 2025 ¥90bn

CAGR · 10 yrs +9.5%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Dec 2016	39.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	44.4	+11.8%	Cons. · Japanese GAAP
FYE Dec 2018	48.1	+8.3%	Cons. · Japanese GAAP
FYE Dec 2019	62.2	+29.4%	Cons. · Japanese GAAP
FYE Dec 2020	56.3	−9.5%	Cons. · Japanese GAAP
FYE Dec 2021	55.8	−0.9%	Cons. · Japanese GAAP
FYE Dec 2022	54.8	−1.9%	Cons. · Japanese GAAP
FYE Dec 2023	63.0	+15.0%	Cons. · Japanese GAAP
FYE Dec 2024	74.4	+18.1%	Cons. · Japanese GAAP
FYE Dec 2025	89.9	+21.0%	Cons. · Japanese GAAP

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

Non-operating income

FYE Dec 2025 ¥2.8bn

CAGR · 10 yrs +10.3%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Dec 2016	1.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.1	−2.3%	Cons. · Japanese GAAP
FYE Dec 2018	1.3	+13.6%	Cons. · Japanese GAAP
FYE Dec 2019	1.6	+22.5%	Cons. · Japanese GAAP
FYE Dec 2020	1.3	−17.5%	Cons. · Japanese GAAP
FYE Dec 2021	1.8	+42.4%	Cons. · Japanese GAAP
FYE Dec 2022	2.0	+9.6%	Cons. · Japanese GAAP
FYE Dec 2023	2.2	+10.0%	Cons. · Japanese GAAP
FYE Dec 2024	2.7	+23.2%	Cons. · Japanese GAAP
FYE Dec 2025	2.8	+2.2%	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 ¥1.2bn

CAGR · 10 yrs +40.0%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Dec 2016	0.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.1	−5.1%	Cons. · Japanese GAAP
FYE Dec 2018	0.1	−1.8%	Cons. · Japanese GAAP
FYE Dec 2019	0.1	+5.5%	Cons. · Japanese GAAP
FYE Dec 2020	0.1	−5.2%	Cons. · Japanese GAAP
FYE Dec 2021	0.1	+90.9%	Cons. · Japanese GAAP
FYE Dec 2022	0.2	+43.8%	Cons. · Japanese GAAP
FYE Dec 2023	0.7	+340.4%	Cons. · Japanese GAAP
FYE Dec 2024	1.2	+75.6%	Cons. · Japanese GAAP
FYE Dec 2025	1.2	+4.2%	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 ¥92bn

CAGR · 10 yrs +9.4%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Dec 2016	40.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	45.5	+11.5%	Cons. · Japanese GAAP
FYE Dec 2018	49.3	+8.4%	Cons. · Japanese GAAP
FYE Dec 2019	63.7	+29.3%	Cons. · Japanese GAAP
FYE Dec 2020	57.6	−9.7%	Cons. · Japanese GAAP
FYE Dec 2021	57.6	−0.0%	Cons. · Japanese GAAP
FYE Dec 2022	56.6	−1.6%	Cons. · Japanese GAAP
FYE Dec 2023	64.5	+13.9%	Cons. · Japanese GAAP
FYE Dec 2024	75.9	+17.7%	Cons. · Japanese GAAP
FYE Dec 2025	91.5	+20.5%	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 ¥0.0bn

CAGR · 9 yrs −36.0%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Dec 2016	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.2	n/a	Cons. · Japanese GAAP
FYE Dec 2018	0.1	−40.4%	Cons. · Japanese GAAP
FYE Dec 2019	0.0	−67.9%	Cons. · Japanese GAAP
FYE Dec 2020	0.2	+561.8%	Cons. · Japanese GAAP
FYE Dec 2021	0.9	+302.2%	Cons. · Japanese GAAP
FYE Dec 2022	1.1	+26.7%	Cons. · Japanese GAAP
FYE Dec 2023	0.8	−26.9%	Cons. · Japanese GAAP
FYE Dec 2024	0.0	−98.7%	Cons. · Japanese GAAP
FYE Dec 2025	0.0	−54.5%	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Dec 2025 ¥64bn

CAGR · 10 yrs +10.3%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Dec 2016	26.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	31.6	+18.3%	Cons. · Japanese GAAP
FYE Dec 2018	33.6	+6.5%	Cons. · Japanese GAAP
FYE Dec 2019	43.5	+29.5%	Cons. · Japanese GAAP
FYE Dec 2020	39.3	−9.6%	Cons. · Japanese GAAP
FYE Dec 2021	39.9	+1.6%	Cons. · Japanese GAAP
FYE Dec 2022	40.0	+0.2%	Cons. · Japanese GAAP
FYE Dec 2023	47.4	+18.6%	Cons. · Japanese GAAP
FYE Dec 2024	53.5	+12.7%	Cons. · Japanese GAAP
FYE Dec 2025	64.3	+20.2%	Cons. · Japanese GAAP

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

Gross margin

FYE Dec 2025 19.1%

Average · 10 yrs 20.8%

Fiscal year	Gross margin %	YoY	Basis
FYE Dec 2016	21.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	21.7	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2018	20.8	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2019	20.3	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2020	20.8	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2021	20.8	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2022	21.4	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2023	20.9	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2024	20.3	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2025	19.1	−1.2pp	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 6.8%

Average · 10 yrs 6.6%

Fiscal year	Operating margin %	YoY	Basis
FYE Dec 2016	6.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	6.4	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2018	6.3	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2019	7.0	+0.7pp	Cons. · Japanese GAAP
FYE Dec 2020	6.7	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2021	6.6	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2022	6.4	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2023	6.4	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2024	6.7	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2025	6.8	+0.1pp	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 6.9%

Average · 10 yrs 6.7%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Dec 2016	6.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	6.6	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2018	6.5	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2019	7.2	+0.7pp	Cons. · Japanese GAAP
FYE Dec 2020	6.9	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2021	6.8	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2022	6.6	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2023	6.6	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2024	6.9	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2025	6.9	+0.1pp	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 4.9%

Average · 10 yrs 4.7%

Fiscal year	Net margin %	YoY	Basis
FYE Dec 2016	4.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.6	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2018	4.4	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2019	4.9	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2020	4.7	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2021	4.7	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2022	4.6	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2023	4.9	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2024	4.8	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2025	4.9	−0.0pp	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 80.9%

Average · 10 yrs 79.2%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Dec 2016	78.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	78.3	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2018	79.2	+0.9pp	Cons. · Japanese GAAP
FYE Dec 2019	79.7	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2020	79.2	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2021	79.2	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2022	78.6	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2023	79.1	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2024	79.7	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2025	80.9	+1.2pp	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 12.3%

Average · 10 yrs 14.2%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Dec 2016	15.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	15.3	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2018	14.4	−0.8pp	Cons. · Japanese GAAP
FYE Dec 2019	13.3	−1.2pp	Cons. · Japanese GAAP
FYE Dec 2020	14.0	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2021	14.2	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2022	15.0	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2023	14.4	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2024	13.6	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2025	12.3	−1.3pp	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 ¥729bn

CAGR · 10 yrs +8.7%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Dec 2016	344	n/a	Cons. · Japanese GAAP
FYE Dec 2017	380	+10.6%	Cons. · Japanese GAAP
FYE Dec 2018	407	+6.9%	Cons. · Japanese GAAP
FYE Dec 2019	462	+13.5%	Cons. · Japanese GAAP
FYE Dec 2020	471	+2.1%	Cons. · Japanese GAAP
FYE Dec 2021	486	+3.2%	Cons. · Japanese GAAP
FYE Dec 2022	523	+7.6%	Cons. · Japanese GAAP
FYE Dec 2023	562	+7.4%	Cons. · Japanese GAAP
FYE Dec 2024	674	+20.0%	Cons. · Japanese GAAP
FYE Dec 2025	729	+8.2%	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 ¥394bn

CAGR · 10 yrs +8.5%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Dec 2016	190	n/a	Cons. · Japanese GAAP
FYE Dec 2017	213	+12.1%	Cons. · Japanese GAAP
FYE Dec 2018	230	+7.9%	Cons. · Japanese GAAP
FYE Dec 2019	259	+12.9%	Cons. · Japanese GAAP
FYE Dec 2020	277	+6.9%	Cons. · Japanese GAAP
FYE Dec 2021	299	+7.7%	Cons. · Japanese GAAP
FYE Dec 2022	319	+6.9%	Cons. · Japanese GAAP
FYE Dec 2023	343	+7.4%	Cons. · Japanese GAAP
FYE Dec 2024	371	+8.1%	Cons. · Japanese GAAP
FYE Dec 2025	394	+6.3%	Cons. · Japanese GAAP

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

Interest-bearing debt

FYE Dec 2025 ¥4.3bn

CAGR · 10 yrs −4.8%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Dec 2016	6.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	6.6	−1.5%	Cons. · Japanese GAAP
FYE Dec 2018	6.5	−1.5%	Cons. · Japanese GAAP
FYE Dec 2019	6.5	−0.0%	Cons. · Japanese GAAP
FYE Dec 2020	6.5	−0.0%	Cons. · Japanese GAAP
FYE Dec 2021	6.5	−0.0%	Cons. · Japanese GAAP
FYE Dec 2022	4.4	−32.3%	Cons. · Japanese GAAP
FYE Dec 2023	6.1	+38.6%	Cons. · Japanese GAAP
FYE Dec 2024	6.0	−1.6%	Cons. · Japanese GAAP
FYE Dec 2025	4.3	−28.3%	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 ¥4.3bn

CAGR · 10 yrs −1.7%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	5.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.9	−2.0%	Cons. · Japanese GAAP
FYE Dec 2018	4.8	−2.0%	Cons. · Japanese GAAP
FYE Dec 2019	4.8	−0.0%	Cons. · Japanese GAAP
FYE Dec 2020	4.8	−0.0%	Cons. · Japanese GAAP
FYE Dec 2021	4.8	−0.0%	Cons. · Japanese GAAP
FYE Dec 2022	4.4	−8.3%	Cons. · Japanese GAAP
FYE Dec 2023	4.4	−0.0%	Cons. · Japanese GAAP
FYE Dec 2024	4.3	−2.3%	Cons. · Japanese GAAP
FYE Dec 2025	4.3	−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 n/a

CAGR · 8 yrs −0.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	1.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.7	−0.0%	Cons. · Japanese GAAP
FYE Dec 2018	1.7	−0.0%	Cons. · Japanese GAAP
FYE Dec 2019	1.7	−0.0%	Cons. · Japanese GAAP
FYE Dec 2020	1.7	−0.0%	Cons. · Japanese GAAP
FYE Dec 2021	1.7	−0.0%	Cons. · Japanese GAAP
FYE Dec 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2023	1.7	n/a	Cons. · Japanese GAAP
FYE Dec 2024	1.7	−0.0%	Cons. · Japanese GAAP
FYE Dec 2025	n/a	n/a	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 ¥31bn

CAGR · 10 yrs +11.8%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Dec 2016	11.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	12.2	+8.0%	Cons. · Japanese GAAP
FYE Dec 2018	13.8	+13.3%	Cons. · Japanese GAAP
FYE Dec 2019	14.5	+5.2%	Cons. · Japanese GAAP
FYE Dec 2020	15.1	+4.3%	Cons. · Japanese GAAP
FYE Dec 2021	15.8	+4.6%	Cons. · Japanese GAAP
FYE Dec 2022	15.8	−0.4%	Cons. · Japanese GAAP
FYE Dec 2023	16.1	+1.9%	Cons. · Japanese GAAP
FYE Dec 2024	20.3	+26.3%	Cons. · Japanese GAAP
FYE Dec 2025	30.6	+50.9%	Cons. · Japanese GAAP

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

Equity ratio

FYE Dec 2025 54.1%

Average · 10 yrs 57.5%

Fiscal year	Equity ratio %	YoY	Basis
FYE Dec 2016	55.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	56.0	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2018	56.5	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2019	56.2	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2020	58.8	+2.7pp	Cons. · Japanese GAAP
FYE Dec 2021	61.4	+2.6pp	Cons. · Japanese GAAP
FYE Dec 2022	61.1	−0.4pp	Cons. · Japanese GAAP
FYE Dec 2023	61.1	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2024	55.0	−6.1pp	Cons. · Japanese GAAP
FYE Dec 2025	54.1	−0.9pp	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 1.1%

Average · 10 yrs 2.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Dec 2016	3.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	3.1	−0.4pp	Cons. · Japanese GAAP
FYE Dec 2018	2.8	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2019	2.5	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2020	2.3	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2021	2.2	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2022	1.4	−0.8pp	Cons. · Japanese GAAP
FYE Dec 2023	1.8	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2024	1.6	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2025	1.1	−0.5pp	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 16.3%

Average · 10 yrs 14.5%

Fiscal year	ROE %	YoY	Basis
FYE Dec 2016	14.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	14.8	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2018	14.6	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2019	16.8	+2.1pp	Cons. · Japanese GAAP
FYE Dec 2020	14.2	−2.6pp	Cons. · Japanese GAAP
FYE Dec 2021	13.4	−0.8pp	Cons. · Japanese GAAP
FYE Dec 2022	12.5	−0.8pp	Cons. · Japanese GAAP
FYE Dec 2023	13.8	+1.3pp	Cons. · Japanese GAAP
FYE Dec 2024	14.4	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2025	16.3	+1.9pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Dec 2025 8.8%

Average · 10 yrs 8.3%

Fiscal year	ROA %	YoY	Basis
FYE Dec 2016	7.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	8.3	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2018	8.3	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2019	9.4	+1.2pp	Cons. · Japanese GAAP
FYE Dec 2020	8.3	−1.1pp	Cons. · Japanese GAAP
FYE Dec 2021	8.2	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2022	7.7	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2023	8.4	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2024	7.9	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2025	8.8	+0.9pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Dec 2025 1.81×

CAGR · 10 yrs −0.3%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Dec 2016	1.87	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.82	−2.9%	Cons. · Japanese GAAP
FYE Dec 2018	1.87	+2.8%	Cons. · Japanese GAAP
FYE Dec 2019	1.92	+2.8%	Cons. · Japanese GAAP
FYE Dec 2020	1.77	−7.6%	Cons. · Japanese GAAP
FYE Dec 2021	1.75	−1.3%	Cons. · Japanese GAAP
FYE Dec 2022	1.65	−6.0%	Cons. · Japanese GAAP
FYE Dec 2023	1.74	+5.7%	Cons. · Japanese GAAP
FYE Dec 2024	1.64	−5.5%	Cons. · Japanese GAAP
FYE Dec 2025	1.81	+10.4%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Dec 2025 ¥92bn

CAGR · 10 yrs +16.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Dec 2016	23.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	36.2	+51.1%	Cons. · Japanese GAAP
FYE Dec 2018	38.6	+6.9%	Cons. · Japanese GAAP
FYE Dec 2019	48.8	+26.2%	Cons. · Japanese GAAP
FYE Dec 2020	32.5	−33.4%	Cons. · Japanese GAAP
FYE Dec 2021	57.9	+78.1%	Cons. · Japanese GAAP
FYE Dec 2022	29.2	−49.6%	Cons. · Japanese GAAP
FYE Dec 2023	71.6	+145.4%	Cons. · Japanese GAAP
FYE Dec 2024	37.7	−47.4%	Cons. · Japanese GAAP
FYE Dec 2025	92.2	+144.5%	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 -¥20bn

Average · 10 yrs -¥11bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-5.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-5.2	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-11.1	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-7.9	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-8.7	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-9.2	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-8.4	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-21.5	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-11.9	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-20.5	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 Dec 2025 -¥48bn

Average · 10 yrs -¥21bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-9.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-11.5	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-13.5	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-16.2	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-21.0	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-22.0	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-23.3	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-23.8	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-25.9	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-47.6	n/a	Cons. · Japanese GAAP

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

Cash and equivalents

FYE Dec 2025 ¥254bn

CAGR · 10 yrs +8.9%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Dec 2016	118	n/a	Cons. · Japanese GAAP
FYE Dec 2017	138	+16.4%	Cons. · Japanese GAAP
FYE Dec 2018	152	+10.2%	Cons. · Japanese GAAP
FYE Dec 2019	176	+16.2%	Cons. · Japanese GAAP
FYE Dec 2020	179	+1.6%	Cons. · Japanese GAAP
FYE Dec 2021	206	+14.9%	Cons. · Japanese GAAP
FYE Dec 2022	203	−1.2%	Cons. · Japanese GAAP
FYE Dec 2023	230	+13.0%	Cons. · Japanese GAAP
FYE Dec 2024	229	−0.1%	Cons. · Japanese GAAP
FYE Dec 2025	254	+10.5%	Cons. · Japanese GAAP

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

Free cash flow

FYE Dec 2025 ¥72bn

CAGR · 10 yrs +16.5%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Dec 2016	18.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	30.9	+70.7%	Cons. · Japanese GAAP
FYE Dec 2018	27.6	−10.9%	Cons. · Japanese GAAP
FYE Dec 2019	40.8	+48.2%	Cons. · Japanese GAAP
FYE Dec 2020	23.8	−41.8%	Cons. · Japanese GAAP
FYE Dec 2021	48.7	+104.8%	Cons. · Japanese GAAP
FYE Dec 2022	20.8	−57.2%	Cons. · Japanese GAAP
FYE Dec 2023	50.2	+140.8%	Cons. · Japanese GAAP
FYE Dec 2024	25.8	−48.7%	Cons. · Japanese GAAP
FYE Dec 2025	71.7	+178.5%	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 7.0%

Average · 10 yrs 5.1%

Fiscal year	OCF margin %	YoY	Basis
FYE Dec 2016	3.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	5.2	+1.5pp	Cons. · Japanese GAAP
FYE Dec 2018	5.1	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2019	5.5	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2020	3.9	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2021	6.8	+2.9pp	Cons. · Japanese GAAP
FYE Dec 2022	3.4	−3.4pp	Cons. · Japanese GAAP
FYE Dec 2023	7.3	+3.9pp	Cons. · Japanese GAAP
FYE Dec 2024	3.4	−3.9pp	Cons. · Japanese GAAP
FYE Dec 2025	7.0	+3.6pp	Cons. · Japanese GAAP

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

Net cash

FYE Dec 2025 ¥249bn

CAGR · 10 yrs +9.4%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Dec 2016	111	n/a	Cons. · Japanese GAAP
FYE Dec 2017	131	+17.5%	Cons. · Japanese GAAP
FYE Dec 2018	145	+10.8%	Cons. · Japanese GAAP
FYE Dec 2019	170	+17.0%	Cons. · Japanese GAAP
FYE Dec 2020	172	+1.6%	Cons. · Japanese GAAP
FYE Dec 2021	199	+15.5%	Cons. · Japanese GAAP
FYE Dec 2022	199	−0.2%	Cons. · Japanese GAAP
FYE Dec 2023	224	+12.4%	Cons. · Japanese GAAP
FYE Dec 2024	223	−0.0%	Cons. · Japanese GAAP
FYE Dec 2025	249	+11.6%	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 ¥1.23tn

Change · 10 yrs +¥712bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Dec 2016	519	n/a
FYE Dec 2017	822	n/a
FYE Dec 2018	572	n/a
FYE Dec 2019	833	n/a
FYE Dec 2020	1,036	n/a
FYE Dec 2021	1,044	n/a
FYE Dec 2022	790	n/a
FYE Dec 2023	1,103	n/a
FYE Dec 2024	1,372	n/a
FYE Dec 2025	1,231	n/a

Definition: What the market says the company is worth
Formula: Year-end share price × shares outstanding
Source: Securities report (XBRL)

Share price year-end close

FYE Dec 2025 3,239¥

Change · 10 yrs −2,220¥

Fiscal year	Share price ¥	Basis
FYE Dec 2016	5,459	n/a
FYE Dec 2017	8,656	n/a
FYE Dec 2018	3,013	n/a
FYE Dec 2019	4,382	n/a
FYE Dec 2020	5,453	n/a
FYE Dec 2021	5,496	n/a
FYE Dec 2022	4,158	n/a
FYE Dec 2023	5,806	n/a
FYE Dec 2024	3,611	n/a
FYE Dec 2025	3,239	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 380,004,000shares

Change · 10 yrs +285,003,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Dec 2016	95,001,000	Parent
FYE Dec 2017	95,001,000	Parent
FYE Dec 2018	190,002,000	Parent
FYE Dec 2019	190,002,000	Parent
FYE Dec 2020	190,002,000	Parent
FYE Dec 2021	190,002,000	Parent
FYE Dec 2022	190,002,000	Parent
FYE Dec 2023	190,002,000	Parent
FYE Dec 2024	380,004,000	Parent
FYE Dec 2025	380,004,000	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 169.58¥

Change · 10 yrs −111.80¥

Fiscal year	EPS ¥	Basis
FYE Dec 2016	281.38	Cons.
FYE Dec 2017	166.46	Cons.
FYE Dec 2018	177.22	Cons.
FYE Dec 2019	229.42	Cons.
FYE Dec 2020	207.33	Cons.
FYE Dec 2021	210.59	Cons.
FYE Dec 2022	211.09	Cons.
FYE Dec 2023	125.13	Cons.
FYE Dec 2024	141.04	Cons.
FYE Dec 2025	169.58	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 1,037.68¥

Change · 10 yrs −960.74¥

Fiscal year	BPS ¥	Basis
FYE Dec 2016	1,998.42	Cons. · Japanese GAAP
FYE Dec 2017	2,241.01	Cons. · Japanese GAAP
FYE Dec 2018	1,209.07	Cons. · Japanese GAAP
FYE Dec 2019	1,364.88	Cons. · Japanese GAAP
FYE Dec 2020	1,459.71	Cons. · Japanese GAAP
FYE Dec 2021	1,572.32	Cons. · Japanese GAAP
FYE Dec 2022	1,680.98	Cons. · Japanese GAAP
FYE Dec 2023	1,805.83	Cons. · Japanese GAAP
FYE Dec 2024	975.78	Cons. · Japanese GAAP
FYE Dec 2025	1,037.68	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Dec 2025 19.10×

Average · 10 yrs 22.15×

Fiscal year	PER ×	Basis
FYE Dec 2016	19.40	Cons.
FYE Dec 2017	26.00	Cons.
FYE Dec 2018	17.00	Cons.
FYE Dec 2019	19.10	Cons.
FYE Dec 2020	26.30	Cons.
FYE Dec 2021	26.10	Cons.
FYE Dec 2022	19.70	Cons.
FYE Dec 2023	23.20	Cons.
FYE Dec 2024	25.60	Cons.
FYE Dec 2025	19.10	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 3.11×

Average · 10 yrs 3.20×

Fiscal year	PBR ×	Basis
FYE Dec 2016	2.73	Cons.
FYE Dec 2017	3.85	Cons.
FYE Dec 2018	2.49	Cons.
FYE Dec 2019	3.20	Cons.
FYE Dec 2020	3.73	Cons.
FYE Dec 2021	3.49	Cons.
FYE Dec 2022	2.47	Cons.
FYE Dec 2023	3.21	Cons.
FYE Dec 2024	3.69	Cons.
FYE Dec 2025	3.11	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 10,079people

Change · 10 yrs +1,541 people

Fiscal year	Group employees people	YoY	Basis
FYE Dec 2016	8,538	n/a	Cons.
FYE Dec 2017	8,658	+1.4%	Cons.
FYE Dec 2018	8,732	+0.9%	Cons.
FYE Dec 2019	8,912	+2.1%	Cons.
FYE Dec 2020	9,119	+2.3%	Cons.
FYE Dec 2021	9,171	+0.6%	Cons.
FYE Dec 2022	9,208	+0.4%	Cons.
FYE Dec 2023	9,421	+2.3%	Cons.
FYE Dec 2024	9,680	+2.7%	Cons.
FYE Dec 2025	10,079	+4.1%	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 Dec 2025 8,287people

Change · 10 yrs +1,302 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Dec 2016	6,985	n/a	Parent
FYE Dec 2017	7,080	+1.4%	Parent
FYE Dec 2018	7,145	+0.9%	Parent
FYE Dec 2019	7,272	+1.8%	Parent
FYE Dec 2020	7,429	+2.2%	Parent
FYE Dec 2021	7,480	+0.7%	Parent
FYE Dec 2022	7,524	+0.6%	Parent
FYE Dec 2023	7,713	+2.5%	Parent
FYE Dec 2024	7,949	+3.1%	Parent
FYE Dec 2025	8,287	+4.3%	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 1,028万円

Change · 7 yrs +176万円

Fiscal year	Average annual pay 万円	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	851	n/a	Parent
FYE Dec 2020	843	−1.0%	Parent
FYE Dec 2021	823	−2.4%	Parent
FYE Dec 2022	857	+4.1%	Parent
FYE Dec 2023	937	+9.4%	Parent
FYE Dec 2024	993	+5.9%	Parent
FYE Dec 2025	1,028	+3.5%	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 42.0years

Change · 7 yrs +0.8 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	41.2	n/a	Parent
FYE Dec 2020	41.3	+0.2%	Parent
FYE Dec 2021	41.6	+0.7%	Parent
FYE Dec 2022	41.8	+0.5%	Parent
FYE Dec 2023	41.7	−0.2%	Parent
FYE Dec 2024	41.4	−0.7%	Parent
FYE Dec 2025	42.0	+1.4%	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 17.6years

Change · 7 yrs +0.5 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	17.1	n/a	Parent
FYE Dec 2020	17.2	+0.6%	Parent
FYE Dec 2021	17.4	+1.2%	Parent
FYE Dec 2022	17.5	+0.6%	Parent
FYE Dec 2023	17.4	−0.6%	Parent
FYE Dec 2024	17.2	−1.1%	Parent
FYE Dec 2025	17.6	+2.3%	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 1,597people

Change · 10 yrs +421 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Dec 2016	1,176	n/a	n/a
FYE Dec 2017	1,162	−1.2%	n/a
FYE Dec 2018	1,226	+5.5%	n/a
FYE Dec 2019	1,292	+5.4%	n/a
FYE Dec 2020	1,329	+2.9%	n/a
FYE Dec 2021	1,351	+1.7%	n/a
FYE Dec 2022	1,431	+5.9%	n/a
FYE Dec 2023	1,551	+8.4%	n/a
FYE Dec 2024	1,680	+8.3%	n/a
FYE Dec 2025	1,597	−4.9%	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 ¥131m

Change · 10 yrs +¥55.9m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Dec 2016	75.4	n/a	Cons.
FYE Dec 2017	79.8	+5.9%	Cons.
FYE Dec 2018	87.0	+9.0%	Cons.
FYE Dec 2019	99.5	+14.3%	Cons.
FYE Dec 2020	91.7	−7.8%	Cons.
FYE Dec 2021	92.9	+1.3%	Cons.
FYE Dec 2022	93.5	+0.7%	Cons.
FYE Dec 2023	104	+10.9%	Cons.
FYE Dec 2024	114	+10.3%	Cons.
FYE Dec 2025	131	+14.7%	Cons.

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

Operating profit per employee

FYE Dec 2025 ¥8.9m

Change · 10 yrs +¥4.3m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Dec 2016	4.6	n/a	Cons.
FYE Dec 2017	5.1	+10.3%	Cons.
FYE Dec 2018	5.5	+7.4%	Cons.
FYE Dec 2019	7.0	+26.8%	Cons.
FYE Dec 2020	6.2	−11.5%	Cons.
FYE Dec 2021	6.1	−1.4%	Cons.
FYE Dec 2022	5.9	−2.3%	Cons.
FYE Dec 2023	6.7	+12.4%	Cons.
FYE Dec 2024	7.7	+14.9%	Cons.
FYE Dec 2025	8.9	+16.2%	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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