Financials

Taiheiyo Cement: FYE Mar 2026 and ten years of results (51 metrics)

FYE Mar 2026 · Revenue¥898bnYoY +0.2%

FYE Mar 2026 · Operating profit¥75bnYoY −4.0%

FYE Mar 2026 · Net profit¥25bnYoY −55.8%

FYE Mar 2026 · Equity ratio46.0%YoY +0.9pp

FYE Mar 2026 · Group employees12,626YoY +40

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥799bn	n/a	¥63bn	n/a	7.9%	¥48bn	Fukuda Shuji	Dc Co. becomes a wholly owned subsidiary
FYE Mar 2018Consolidated	¥871bn	+9.1%	¥65bn	+3.0%	7.5%	¥39bn	Fukuda Shuji	Fujihara Masafumi becomes president
FYE Mar 2019Consolidated	¥916bn	+5.2%	¥66bn	+1.4%	7.2%	¥43bn	Fukuda Shuji	—
FYE Mar 2020Consolidated	¥884bn	−3.5%	¥61bn	−7.6%	6.9%	¥39bn	Fushihara Masafumi	—
FYE Mar 2021Consolidated	¥864bn	−2.3%	¥64bn	+4.3%	7.4%	¥47bn	Fushihara Masafumi	—
FYE Mar 2022Consolidated	¥708bn	−18.0%	¥47bn	−26.6%	6.6%	¥29bn	Fushihara Masafumi	—
FYE Mar 2023Consolidated	¥810bn	+14.3%	¥4.5bn	−90.5%	0.6%	-¥33bn	Fushihara Masafumi	Redding plant acquired; coal reaches $340/t C&F
FYE Mar 2024Consolidated	¥886bn	+9.5%	¥56bn	+1167.3%	6.4%	¥43bn	Fushihara Masafumi	Net loss of <span class="en-history_money" data-yen="33200000000" data-year="2022">$252.7M (¥33bn)</span>; Denka’s cement business acquired
FYE Mar 2025Consolidated	¥896bn	+1.1%	¥78bn	+37.7%	8.7%	¥57bn	Fushihara Masafumi	<a class="en-history_person" href="/tse/5233/executives/ceo/taura-yoshifumi/" hreflang="ja">Taura Yoshifumi</a> president; environmental business made a pillar
FYE Mar 2026Consolidated	¥898bn	+0.2%	¥75bn	−4.0%	8.3%	¥25bn	Taura Yoshifumi	—

How it compares

Taiheiyo Cement¥898bnFY2025Operating margin 8.3%

Sumitomo Osaka Cement Co., Ltd.¥224bnFY2025Operating margin 6.1%

Mitsubishi Mining & Cement Co., Ltd.Delisted 1990

Onoda Cement Co., Ltd.Dissolved 1994

Nihon Cement Co., Ltd.Delisted 1998

Chichibu Cement Co., Ltd.Delisted 1994

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 ¥898bn

CAGR · 10 yrs +1.3%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	799	n/a	Cons. · Japanese GAAP
FYE Mar 2018	871	+9.1%	Cons. · Japanese GAAP
FYE Mar 2019	916	+5.2%	Cons. · Japanese GAAP
FYE Mar 2020	884	−3.5%	Cons. · Japanese GAAP
FYE Mar 2021	864	−2.3%	Cons. · Japanese GAAP
FYE Mar 2022	708	−18.0%	Cons. · Japanese GAAP
FYE Mar 2023	810	+14.3%	Cons. · Japanese GAAP
FYE Mar 2024	886	+9.5%	Cons. · Japanese GAAP
FYE Mar 2025	896	+1.1%	Cons. · Japanese GAAP
FYE Mar 2026	898	+0.2%	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 ¥675bn

CAGR · 10 yrs +1.3%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	600	n/a	Cons. · Japanese GAAP
FYE Mar 2018	665	+10.8%	Cons. · Japanese GAAP
FYE Mar 2019	713	+7.2%	Cons. · Japanese GAAP
FYE Mar 2020	689	−3.3%	Cons. · Japanese GAAP
FYE Mar 2021	673	−2.4%	Cons. · Japanese GAAP
FYE Mar 2022	533	−20.8%	Cons. · Japanese GAAP
FYE Mar 2023	668	+25.4%	Cons. · Japanese GAAP
FYE Mar 2024	694	+3.9%	Cons. · Japanese GAAP
FYE Mar 2025	679	−2.1%	Cons. · Japanese GAAP
FYE Mar 2026	675	−0.6%	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 ¥223bn

CAGR · 10 yrs +1.3%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	199	n/a	Cons. · Japanese GAAP
FYE Mar 2018	206	+3.8%	Cons. · Japanese GAAP
FYE Mar 2019	203	−1.3%	Cons. · Japanese GAAP
FYE Mar 2020	195	−4.1%	Cons. · Japanese GAAP
FYE Mar 2021	191	−1.9%	Cons. · Japanese GAAP
FYE Mar 2022	175	−8.3%	Cons. · Japanese GAAP
FYE Mar 2023	141	−19.5%	Cons. · Japanese GAAP
FYE Mar 2024	192	+36.1%	Cons. · Japanese GAAP
FYE Mar 2025	217	+12.9%	Cons. · Japanese GAAP
FYE Mar 2026	223	+2.8%	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 Mar 2026 ¥149bn

CAGR · 10 yrs +1.0%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	135	n/a	Cons. · Japanese GAAP
FYE Mar 2018	141	+4.1%	Cons. · Japanese GAAP
FYE Mar 2019	137	−2.5%	Cons. · Japanese GAAP
FYE Mar 2020	134	−2.5%	Cons. · Japanese GAAP
FYE Mar 2021	128	−4.7%	Cons. · Japanese GAAP
FYE Mar 2022	129	+0.8%	Cons. · Japanese GAAP
FYE Mar 2023	137	+6.3%	Cons. · Japanese GAAP
FYE Mar 2024	136	−0.7%	Cons. · Japanese GAAP
FYE Mar 2025	139	+2.6%	Cons. · Japanese GAAP
FYE Mar 2026	149	+6.7%	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 ¥75bn

CAGR · 10 yrs +1.9%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	63.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	65.1	+3.0%	Cons. · Japanese GAAP
FYE Mar 2019	66.0	+1.4%	Cons. · Japanese GAAP
FYE Mar 2020	61.0	−7.6%	Cons. · Japanese GAAP
FYE Mar 2021	63.6	+4.3%	Cons. · Japanese GAAP
FYE Mar 2022	46.7	−26.6%	Cons. · Japanese GAAP
FYE Mar 2023	4.5	−90.5%	Cons. · Japanese GAAP
FYE Mar 2024	56.5	+1167.3%	Cons. · Japanese GAAP
FYE Mar 2025	77.8	+37.7%	Cons. · Japanese GAAP
FYE Mar 2026	74.6	−4.0%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥12bn

CAGR · 10 yrs +7.9%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	5.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.4	+42.3%	Cons. · Japanese GAAP
FYE Mar 2019	7.7	−8.2%	Cons. · Japanese GAAP
FYE Mar 2020	8.1	+5.0%	Cons. · Japanese GAAP
FYE Mar 2021	8.4	+4.4%	Cons. · Japanese GAAP
FYE Mar 2022	8.3	−1.4%	Cons. · Japanese GAAP
FYE Mar 2023	4.9	−40.9%	Cons. · Japanese GAAP
FYE Mar 2024	10.6	+116.2%	Cons. · Japanese GAAP
FYE Mar 2025	6.9	−34.7%	Cons. · Japanese GAAP
FYE Mar 2026	11.6	+67.9%	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 ¥11bn

CAGR · 10 yrs +2.0%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	9.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.1	−1.9%	Cons. · Japanese GAAP
FYE Mar 2019	9.4	+2.8%	Cons. · Japanese GAAP
FYE Mar 2020	8.5	−9.1%	Cons. · Japanese GAAP
FYE Mar 2021	6.3	−26.3%	Cons. · Japanese GAAP
FYE Mar 2022	4.8	−23.4%	Cons. · Japanese GAAP
FYE Mar 2023	8.4	+73.3%	Cons. · Japanese GAAP
FYE Mar 2024	7.6	−8.8%	Cons. · Japanese GAAP
FYE Mar 2025	9.3	+22.3%	Cons. · Japanese GAAP
FYE Mar 2026	11.2	+20.1%	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 ¥75bn

CAGR · 10 yrs +2.6%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	59.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	64.4	+7.6%	Cons. · Japanese GAAP
FYE Mar 2019	64.3	−0.1%	Cons. · Japanese GAAP
FYE Mar 2020	60.5	−5.9%	Cons. · Japanese GAAP
FYE Mar 2021	65.7	+8.6%	Cons. · Japanese GAAP
FYE Mar 2022	50.2	−23.7%	Cons. · Japanese GAAP
FYE Mar 2023	1.0	−98.0%	Cons. · Japanese GAAP
FYE Mar 2024	59.5	+5753.6%	Cons. · Japanese GAAP
FYE Mar 2025	75.4	+26.7%	Cons. · Japanese GAAP
FYE Mar 2026	75.1	−0.4%	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 ¥2.2bn

CAGR · 10 yrs −22.4%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	21.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.6	−92.5%	Cons. · Japanese GAAP
FYE Mar 2019	1.9	+18.6%	Cons. · Japanese GAAP
FYE Mar 2020	3.8	+100.2%	Cons. · Japanese GAAP
FYE Mar 2021	7.2	+88.3%	Cons. · Japanese GAAP
FYE Mar 2022	8.1	+11.5%	Cons. · Japanese GAAP
FYE Mar 2023	4.3	−46.0%	Cons. · Japanese GAAP
FYE Mar 2024	5.3	+21.7%	Cons. · Japanese GAAP
FYE Mar 2025	11.5	+116.8%	Cons. · Japanese GAAP
FYE Mar 2026	2.2	−80.7%	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥25bn

CAGR · 10 yrs −6.7%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	47.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	38.5	−19.1%	Cons. · Japanese GAAP
FYE Mar 2019	43.5	+12.8%	Cons. · Japanese GAAP
FYE Mar 2020	39.2	−9.9%	Cons. · Japanese GAAP
FYE Mar 2021	46.8	+19.5%	Cons. · Japanese GAAP
FYE Mar 2022	29.0	−38.1%	Cons. · Japanese GAAP
FYE Mar 2023	-33.2	−214.6%	Cons. · Japanese GAAP
FYE Mar 2024	43.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	57.4	+32.7%	Cons. · Japanese GAAP
FYE Mar 2026	25.4	−55.8%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 24.9%

Average · 10 yrs 22.8%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	24.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.7	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	22.2	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	22.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	22.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	24.8	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2023	17.4	−7.3pp	Cons. · Japanese GAAP
FYE Mar 2024	21.7	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2025	24.2	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2026	24.9	+0.6pp	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 8.3%

Average · 10 yrs 6.7%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	7.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	6.9	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	7.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	6.6	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	0.6	−6.0pp	Cons. · Japanese GAAP
FYE Mar 2024	6.4	+5.8pp	Cons. · Japanese GAAP
FYE Mar 2025	8.7	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	8.3	−0.4pp	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 8.4%

Average · 10 yrs 6.7%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.4	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	7.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	6.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	7.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	7.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	0.1	−7.0pp	Cons. · Japanese GAAP
FYE Mar 2024	6.7	+6.6pp	Cons. · Japanese GAAP
FYE Mar 2025	8.4	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2026	8.4	−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 Mar 2026 2.8%

Average · 10 yrs 3.9%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.4	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	4.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	4.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	5.4	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	4.1	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2023	-4.1	−8.2pp	Cons. · Japanese GAAP
FYE Mar 2024	4.9	+9.0pp	Cons. · Japanese GAAP
FYE Mar 2025	6.4	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	2.8	−3.6pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 75.1%

Average · 10 yrs 77.2%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	75.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	76.3	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	77.8	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	77.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	77.9	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	75.2	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2023	82.6	+7.3pp	Cons. · Japanese GAAP
FYE Mar 2024	78.3	−4.2pp	Cons. · Japanese GAAP
FYE Mar 2025	75.8	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2026	75.1	−0.6pp	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 16.5%

Average · 10 yrs 16.1%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	17.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.2	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	15.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	15.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	14.8	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	18.2	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2023	16.9	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2024	15.3	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	15.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	16.5	+1.0pp	Cons. · Japanese GAAP

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

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

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥1.48tn

CAGR · 10 yrs +4.3%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	1,015	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,020	+0.5%	Cons. · Japanese GAAP
FYE Mar 2019	1,034	+1.4%	Cons. · Japanese GAAP
FYE Mar 2020	1,033	−0.1%	Cons. · Japanese GAAP
FYE Mar 2021	1,044	+1.1%	Cons. · Japanese GAAP
FYE Mar 2022	1,103	+5.6%	Cons. · Japanese GAAP
FYE Mar 2023	1,269	+15.0%	Cons. · Japanese GAAP
FYE Mar 2024	1,338	+5.5%	Cons. · Japanese GAAP
FYE Mar 2025	1,424	+6.4%	Cons. · Japanese GAAP
FYE Mar 2026	1,479	+3.9%	Cons. · Japanese GAAP

Definition: Everything the company holds
Formula: Total assets line of the balance sheet
Source: Securities report (XBRL)

Equity net assets, shareholders' equity

FYE Mar 2026 ¥681bn

CAGR · 10 yrs +7.3%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	362	n/a	Cons. · Japanese GAAP
FYE Mar 2018	395	+9.2%	Cons. · Japanese GAAP
FYE Mar 2019	415	+4.9%	Cons. · Japanese GAAP
FYE Mar 2020	437	+5.3%	Cons. · Japanese GAAP
FYE Mar 2021	471	+7.8%	Cons. · Japanese GAAP
FYE Mar 2022	511	+8.4%	Cons. · Japanese GAAP
FYE Mar 2023	495	−3.1%	Cons. · Japanese GAAP
FYE Mar 2024	563	+13.8%	Cons. · Japanese GAAP
FYE Mar 2025	642	+13.9%	Cons. · Japanese GAAP
FYE Mar 2026	681	+6.1%	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 Mar 2026 ¥309bn

CAGR · 10 yrs +0.5%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	295	n/a	Cons. · Japanese GAAP
FYE Mar 2018	254	−14.0%	Cons. · Japanese GAAP
FYE Mar 2019	236	−7.1%	Cons. · Japanese GAAP
FYE Mar 2020	224	−4.9%	Cons. · Japanese GAAP
FYE Mar 2021	188	−16.1%	Cons. · Japanese GAAP
FYE Mar 2022	190	+0.8%	Cons. · Japanese GAAP
FYE Mar 2023	316	+66.9%	Cons. · Japanese GAAP
FYE Mar 2024	300	−5.1%	Cons. · Japanese GAAP
FYE Mar 2025	315	+4.7%	Cons. · Japanese GAAP
FYE Mar 2026	309	−1.9%	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Mar 2026 ¥159bn

CAGR · 10 yrs +1.8%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	134	n/a	Cons. · Japanese GAAP
FYE Mar 2018	153	+14.0%	Cons. · Japanese GAAP
FYE Mar 2019	4.0	−97.4%	Cons. · Japanese GAAP
FYE Mar 2020	133	+3219.6%	Cons. · Japanese GAAP
FYE Mar 2021	104	−22.0%	Cons. · Japanese GAAP
FYE Mar 2022	124	+19.7%	Cons. · Japanese GAAP
FYE Mar 2023	27.0	−78.2%	Cons. · Japanese GAAP
FYE Mar 2024	143	+429.3%	Cons. · Japanese GAAP
FYE Mar 2025	5.0	−96.5%	Cons. · Japanese GAAP
FYE Mar 2026	159	+3070.0%	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 Mar 2026 ¥150bn

CAGR · 10 yrs −0.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	160	n/a	Cons. · Japanese GAAP
FYE Mar 2018	100	−37.4%	Cons. · Japanese GAAP
FYE Mar 2019	100	−0.2%	Cons. · Japanese GAAP
FYE Mar 2020	103	+3.1%	Cons. · Japanese GAAP
FYE Mar 2021	84.6	−18.2%	Cons. · Japanese GAAP
FYE Mar 2022	86.6	+2.4%	Cons. · Japanese GAAP
FYE Mar 2023	167	+92.7%	Cons. · Japanese GAAP
FYE Mar 2024	158	−5.6%	Cons. · Japanese GAAP
FYE Mar 2025	158	+0.4%	Cons. · Japanese GAAP
FYE Mar 2026	150	−5.0%	Cons. · Japanese GAAP

Definition: Borrowings repayable in more than a year
Formula: Long-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Bonds

FYE Mar 2026 n/a

CAGR · 9 yrs +5.3%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	46.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.0	−24.1%	Cons. · Japanese GAAP
FYE Mar 2019	40.0	+14.2%	Cons. · Japanese GAAP
FYE Mar 2020	30.0	−25.0%	Cons. · Japanese GAAP
FYE Mar 2021	60.0	+100.0%	Cons. · Japanese GAAP
FYE Mar 2022	60.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	60.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2024	70.0	+16.7%	Cons. · Japanese GAAP
FYE Mar 2025	70.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: Bonds outstanding
Formula: Bonds line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥44bn

CAGR · 10 yrs +1.6%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	37.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.0	−12.3%	Cons. · Japanese GAAP
FYE Mar 2019	30.9	−6.5%	Cons. · Japanese GAAP
FYE Mar 2020	29.8	−3.4%	Cons. · Japanese GAAP
FYE Mar 2021	28.2	−5.4%	Cons. · Japanese GAAP
FYE Mar 2022	27.6	−2.2%	Cons. · Japanese GAAP
FYE Mar 2023	39.8	+44.3%	Cons. · Japanese GAAP
FYE Mar 2024	39.1	−1.7%	Cons. · Japanese GAAP
FYE Mar 2025	47.0	+20.3%	Cons. · Japanese GAAP
FYE Mar 2026	43.5	−7.4%	Cons. · Japanese GAAP

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

Goodwill

FYE Mar 2026 ¥0.1bn

CAGR · 10 yrs −34.0%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	3.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	−77.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.3	−58.7%	Cons. · Japanese GAAP
FYE Mar 2020	0.2	−44.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.2	−11.2%	Cons. · Japanese GAAP
FYE Mar 2022	0.1	−49.7%	Cons. · Japanese GAAP
FYE Mar 2023	0.1	+26.3%	Cons. · Japanese GAAP
FYE Mar 2024	0.1	+3.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.1	−38.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.1	+26.6%	Cons. · Japanese GAAP

Definition: What an acquisition cost above the net assets it brought
Formula: Goodwill line of the balance sheet
Source: Securities report (XBRL)

Equity ratio

FYE Mar 2026 46.0%

Average · 10 yrs 42.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	35.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	38.7	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2019	40.1	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	42.3	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2021	45.1	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2022	46.3	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	39.0	−7.3pp	Cons. · Japanese GAAP
FYE Mar 2024	42.1	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2025	45.1	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2026	46.0	+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 Mar 2026 45.4%

Average · 10 yrs 54.3%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	81.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	64.2	−17.3pp	Cons. · Japanese GAAP
FYE Mar 2019	56.8	−7.3pp	Cons. · Japanese GAAP
FYE Mar 2020	51.3	−5.5pp	Cons. · Japanese GAAP
FYE Mar 2021	39.9	−11.4pp	Cons. · Japanese GAAP
FYE Mar 2022	37.1	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2023	63.9	+26.8pp	Cons. · Japanese GAAP
FYE Mar 2024	53.3	−10.6pp	Cons. · Japanese GAAP
FYE Mar 2025	49.0	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2026	45.4	−3.7pp	Cons. · Japanese GAAP

Definition: Borrowings measured against the company's own capital
Formula: Interest-bearing debt ÷ equity
Source: Securities report (XBRL)

ROE return on equity

FYE Mar 2026 3.7%

Average · 10 yrs 7.2%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	13.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.7	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2019	10.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	9.0	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	9.9	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	5.7	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2023	-6.7	−12.4pp	Cons. · Japanese GAAP
FYE Mar 2024	7.7	+14.4pp	Cons. · Japanese GAAP
FYE Mar 2025	8.9	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	3.7	−5.2pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 1.7%

Average · 10 yrs 3.0%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	4.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.8	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	4.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	3.8	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	4.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	2.6	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2023	-2.6	−5.2pp	Cons. · Japanese GAAP
FYE Mar 2024	3.2	+5.9pp	Cons. · Japanese GAAP
FYE Mar 2025	4.0	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	1.7	−2.3pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.61×

CAGR · 10 yrs −2.8%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.79	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.85	+8.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.89	+3.7%	Cons. · Japanese GAAP
FYE Mar 2020	0.86	−3.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.83	−3.4%	Cons. · Japanese GAAP
FYE Mar 2022	0.64	−22.4%	Cons. · Japanese GAAP
FYE Mar 2023	0.64	−0.6%	Cons. · Japanese GAAP
FYE Mar 2024	0.66	+3.8%	Cons. · Japanese GAAP
FYE Mar 2025	0.63	−4.9%	Cons. · Japanese GAAP
FYE Mar 2026	0.61	−3.5%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥114bn

CAGR · 10 yrs +2.1%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	94.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	108	+14.0%	Cons. · Japanese GAAP
FYE Mar 2019	97.3	−9.7%	Cons. · Japanese GAAP
FYE Mar 2020	90.9	−6.6%	Cons. · Japanese GAAP
FYE Mar 2021	110	+21.5%	Cons. · Japanese GAAP
FYE Mar 2022	71.2	−35.5%	Cons. · Japanese GAAP
FYE Mar 2023	-0.3	−100.4%	Cons. · Japanese GAAP
FYE Mar 2024	141	n/a	Cons. · Japanese GAAP
FYE Mar 2025	118	−16.1%	Cons. · Japanese GAAP
FYE Mar 2026	114	−3.1%	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 -¥99bn

Average · 10 yrs -¥69bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-10.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-48.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-58.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-65.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-47.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-83.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-93.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-82.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-107	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-98.6	n/a	Cons. · Japanese GAAP

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

Financing cash flow

FYE Mar 2026 -¥27bn

Average · 10 yrs -¥25bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-81.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-65.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-33.8	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-29.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-44.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	112	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-59.5	−153.1%	Cons. · Japanese GAAP
FYE Mar 2025	-20.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-26.8	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 ¥54bn

CAGR · 10 yrs +0.4%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	52.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	45.0	−13.5%	Cons. · Japanese GAAP
FYE Mar 2019	50.1	+11.4%	Cons. · Japanese GAAP
FYE Mar 2020	45.7	−8.7%	Cons. · Japanese GAAP
FYE Mar 2021	63.8	+39.5%	Cons. · Japanese GAAP
FYE Mar 2022	50.2	−21.3%	Cons. · Japanese GAAP
FYE Mar 2023	70.8	+41.1%	Cons. · Japanese GAAP
FYE Mar 2024	71.1	+0.5%	Cons. · Japanese GAAP
FYE Mar 2025	65.3	−8.2%	Cons. · Japanese GAAP
FYE Mar 2026	53.9	−17.5%	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 Mar 2026 ¥16bn

CAGR · 10 yrs −17.1%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	84.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	59.2	−29.5%	Cons. · Japanese GAAP
FYE Mar 2019	39.3	−33.7%	Cons. · Japanese GAAP
FYE Mar 2020	25.4	−35.4%	Cons. · Japanese GAAP
FYE Mar 2021	62.6	+146.7%	Cons. · Japanese GAAP
FYE Mar 2022	-12.7	−120.3%	Cons. · Japanese GAAP
FYE Mar 2023	-93.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	58.4	n/a	Cons. · Japanese GAAP
FYE Mar 2025	11.3	−80.6%	Cons. · Japanese GAAP
FYE Mar 2026	15.6	+37.1%	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 12.7%

Average · 10 yrs 11.0%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	11.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	10.6	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2020	10.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	12.8	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2022	10.1	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2023	-0.0	−10.1pp	Cons. · Japanese GAAP
FYE Mar 2024	15.9	+15.9pp	Cons. · Japanese GAAP
FYE Mar 2025	13.2	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2026	12.7	−0.4pp	Cons. · Japanese GAAP

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

Net cash

FYE Mar 2026 -¥255bn

Average · 10 yrs -¥206bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-243	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-209	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-186	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-178	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-124	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-139	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-246	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-229	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-249	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-255	n/a	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Mar 2026 ¥414bn

Change · 10 yrs −¥59bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	473	n/a
FYE Mar 2018	491	n/a
FYE Mar 2019	469	n/a
FYE Mar 2020	235	n/a
FYE Mar 2021	370	n/a
FYE Mar 2022	246	n/a
FYE Mar 2023	303	n/a
FYE Mar 2024	429	n/a
FYE Mar 2025	461	n/a
FYE Mar 2026	414	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 3,500¥

Change · 10 yrs +3,128¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	372	n/a
FYE Mar 2018	3,864	n/a
FYE Mar 2019	3,690	n/a
FYE Mar 2020	1,849	n/a
FYE Mar 2021	2,912	n/a
FYE Mar 2022	2,018	n/a
FYE Mar 2023	2,488	n/a
FYE Mar 2024	3,518	n/a
FYE Mar 2025	3,899	n/a
FYE Mar 2026	3,500	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 118,192,000shares

Change · 10 yrs −1,153,210,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	1,271,402,000	Parent
FYE Mar 2018	127,140,000	Parent
FYE Mar 2019	127,140,000	Parent
FYE Mar 2020	127,140,000	Parent
FYE Mar 2021	127,140,000	Parent
FYE Mar 2022	121,985,000	Parent
FYE Mar 2023	121,985,000	Parent
FYE Mar 2024	121,985,000	Parent
FYE Mar 2025	118,192,000	Parent
FYE Mar 2026	118,192,000	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 227.86¥

Change · 10 yrs −156.05¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	383.91	Cons.
FYE Mar 2018	311.40	Cons.
FYE Mar 2019	351.72	Cons.
FYE Mar 2020	319.89	Cons.
FYE Mar 2021	387.79	Cons.
FYE Mar 2022	245.80	Cons.
FYE Mar 2023	-283.68	Cons.
FYE Mar 2024	371.09	Cons.
FYE Mar 2025	502.48	Cons.
FYE Mar 2026	227.86	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 5,758.16¥

Change · 10 yrs +5,473.58¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	284.58	Cons. · Japanese GAAP
FYE Mar 2018	3,108.92	Cons. · Japanese GAAP
FYE Mar 2019	3,261.84	Cons. · Japanese GAAP
FYE Mar 2020	3,434.62	Cons. · Japanese GAAP
FYE Mar 2021	3,703.96	Cons. · Japanese GAAP
FYE Mar 2022	4,185.91	Cons. · Japanese GAAP
FYE Mar 2023	4,057.53	Cons. · Japanese GAAP
FYE Mar 2024	4,617.05	Cons. · Japanese GAAP
FYE Mar 2025	5,429.04	Cons. · Japanese GAAP
FYE Mar 2026	5,758.16	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 15.36×

Average · 10 yrs 7.79×

Fiscal year	PER ×	Basis
FYE Mar 2017	9.69	Cons.
FYE Mar 2018	12.41	Cons.
FYE Mar 2019	10.49	Cons.
FYE Mar 2020	5.78	Cons.
FYE Mar 2021	7.51	Cons.
FYE Mar 2022	8.21	Cons.
FYE Mar 2023	-8.77	Cons.
FYE Mar 2024	9.48	Cons.
FYE Mar 2025	7.76	Cons.
FYE Mar 2026	15.36	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 0.57×

Average · 10 yrs 0.78×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.27	Cons.
FYE Mar 2018	1.21	Cons.
FYE Mar 2019	1.09	Cons.
FYE Mar 2020	0.52	Cons.
FYE Mar 2021	0.73	Cons.
FYE Mar 2022	0.46	Cons.
FYE Mar 2023	0.59	Cons.
FYE Mar 2024	0.72	Cons.
FYE Mar 2025	0.68	Cons.
FYE Mar 2026	0.57	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 12,626people

Change · 10 yrs −382 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	13,008	n/a	Cons.
FYE Mar 2018	13,055	+0.4%	Cons.
FYE Mar 2019	13,083	+0.2%	Cons.
FYE Mar 2020	13,119	+0.3%	Cons.
FYE Mar 2021	12,586	−4.1%	Cons.
FYE Mar 2022	12,542	−0.3%	Cons.
FYE Mar 2023	12,720	+1.4%	Cons.
FYE Mar 2024	12,540	−1.4%	Cons.
FYE Mar 2025	12,586	+0.4%	Cons.
FYE Mar 2026	12,626	+0.3%	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 1,783people

Change · 10 yrs +81 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,702	n/a	Parent
FYE Mar 2018	1,746	+2.6%	Parent
FYE Mar 2019	1,760	+0.8%	Parent
FYE Mar 2020	1,798	+2.2%	Parent
FYE Mar 2021	1,838	+2.2%	Parent
FYE Mar 2022	1,874	+2.0%	Parent
FYE Mar 2023	1,841	−1.8%	Parent
FYE Mar 2024	1,821	−1.1%	Parent
FYE Mar 2025	1,733	−4.8%	Parent
FYE Mar 2026	1,783	+2.9%	Parent

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

Average annual pay parent company

FYE Mar 2026 ¥8.5m

Change · 10 yrs +¥0.9m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	7.6	n/a	Parent
FYE Mar 2018	7.5	−0.7%	Parent
FYE Mar 2019	7.4	−2.1%	Parent
FYE Mar 2020	7.4	−0.2%	Parent
FYE Mar 2021	7.3	−1.1%	Parent
FYE Mar 2022	7.3	+0.2%	Parent
FYE Mar 2023	7.3	−0.0%	Parent
FYE Mar 2024	7.2	−1.1%	Parent
FYE Mar 2025	7.6	+5.8%	Parent
FYE Mar 2026	8.5	+10.7%	Parent

Definition: Average total annual compensation, bonuses included
Formula: Average annual pay, from the employee section of the filing
Source: Securities report (XBRL)

Average age

FYE Mar 2026 39.6years

Change · 8 yrs −1.9 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	41.5	n/a	Parent
FYE Mar 2020	41.2	−0.7%	Parent
FYE Mar 2021	40.7	−1.2%	Parent
FYE Mar 2022	40.4	−0.7%	Parent
FYE Mar 2023	40.1	−0.7%	Parent
FYE Mar 2024	39.7	−1.0%	Parent
FYE Mar 2025	39.8	+0.3%	Parent
FYE Mar 2026	39.6	−0.5%	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 16.8years

Change · 10 yrs −3.2 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	20.0	n/a	Parent
FYE Mar 2018	19.9	−0.5%	Parent
FYE Mar 2019	19.7	−1.0%	Parent
FYE Mar 2020	19.2	−2.5%	Parent
FYE Mar 2021	18.5	−3.6%	Parent
FYE Mar 2022	18.1	−2.2%	Parent
FYE Mar 2023	17.8	−1.7%	Parent
FYE Mar 2024	17.3	−2.8%	Parent
FYE Mar 2025	17.3	−0.0%	Parent
FYE Mar 2026	16.8	−2.9%	Parent

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

Temporary employees

FYE Mar 2026 1,023people

Change · 10 yrs +154 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	869	n/a	n/a
FYE Mar 2018	1,005	+15.7%	n/a
FYE Mar 2019	998	−0.7%	n/a
FYE Mar 2020	1,042	+4.4%	n/a
FYE Mar 2021	1,060	+1.7%	n/a
FYE Mar 2022	921	−13.1%	n/a
FYE Mar 2023	943	+2.4%	n/a
FYE Mar 2024	1,076	+14.1%	n/a
FYE Mar 2025	1,004	−6.7%	n/a
FYE Mar 2026	1,023	+1.9%	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 Mar 2026 ¥71.2m

Change · 10 yrs +¥9.8m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	61.4	n/a	Cons.
FYE Mar 2018	66.7	+8.7%	Cons.
FYE Mar 2019	70.0	+4.9%	Cons.
FYE Mar 2020	67.4	−3.7%	Cons.
FYE Mar 2021	68.6	+1.8%	Cons.
FYE Mar 2022	56.5	−17.7%	Cons.
FYE Mar 2023	63.6	+12.7%	Cons.
FYE Mar 2024	70.7	+11.1%	Cons.
FYE Mar 2025	71.2	+0.8%	Cons.
FYE Mar 2026	71.2	−0.1%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.9m

Change · 10 yrs +¥1.0m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	4.9	n/a	Cons.
FYE Mar 2018	5.0	+2.6%	Cons.
FYE Mar 2019	5.0	+1.1%	Cons.
FYE Mar 2020	4.7	−7.8%	Cons.
FYE Mar 2021	5.1	+8.7%	Cons.
FYE Mar 2022	3.7	−26.3%	Cons.
FYE Mar 2023	0.4	−90.6%	Cons.
FYE Mar 2024	4.5	+1185.5%	Cons.
FYE Mar 2025	6.2	+37.2%	Cons.
FYE Mar 2026	5.9	−4.3%	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 →

Data API

Taiheiyo Cement’s history, presidents and financials are published as static JSON — no key, plain GET. One API per public page, and one per section where a page carries several tables. Full specification →

/api/5233/company.json ·/api/5233/history.json ·/api/5233/ceo.json ·/api/5233/financials.json ·/api/5233/financials/segment.json ·/api/5233/financials/pl.json ·/api/5233/financials/cf.json ·/api/5233/financials/bs.json ·/api/5233/financials/employee.json ·/api/5233/financials/stock.json ·/api/5233/financials.csv ·/api/5233/financials_history.csv

/api/companies.json ·/api/decisions.json ·/api/api-manifest.json