Financials

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

FYE Mar 2026 · Revenue¥670bnYoY +8.2%

FYE Mar 2026 · Operating profit¥95bnYoY +16.9%

FYE Mar 2026 · Net profit¥60bnYoY +9.1%

FYE Mar 2026 · Equity ratio65.1%YoY +2.0pp

FYE Mar 2026 · Group employees19,869YoY −62

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥401bn	n/a	¥63bn	n/a	15.8%	¥36bn	Oshima Taku	—
FYE Mar 2018Consolidated	¥451bn	+12.4%	¥70bn	+10.8%	15.5%	¥46bn	Oshima Taku	—
FYE Mar 2019Consolidated	¥464bn	+2.7%	¥65bn	−7.6%	14.0%	¥36bn	Oshima Taku	—
FYE Mar 2020Consolidated	¥442bn	−4.6%	¥55bn	−15.0%	12.4%	¥27bn	Oshima Taku	Tajimi plant for semiconductor-equipment parts
FYE Mar 2021Consolidated	¥452bn	+2.3%	¥51bn	−7.6%	11.2%	¥38bn	Oshima Taku	—
FYE Mar 2022Consolidated	¥510bn	+12.9%	¥84bn	+64.3%	16.4%	¥71bn	Oshima Taku	<a class="en-history_person" href="/tse/5333/executives/ceo/kobayashi-shigeru/" hreflang="ja">Kobayashi Shigeru</a>; “Road to 2050” vision
FYE Mar 2023Consolidated	¥559bn	+9.6%	¥67bn	−20.1%	11.9%	¥55bn	Kobayashi Shigeru	—
FYE Mar 2024Consolidated	¥579bn	+3.5%	¥66bn	−0.5%	11.5%	¥41bn	Kobayashi Shigeru	—
FYE Mar 2025Consolidated	¥620bn	+7.0%	¥81bn	+22.4%	13.1%	¥55bn	Kobayashi Shigeru	—
FYE Mar 2026Consolidated	¥670bn	+8.2%	¥95bn	+16.9%	14.2%	¥60bn	Kobayashi Shigeru	Agrees to buy Deutsche KNM (BORSIG) — cancelled in January 2026

How it compares

TOTO¥737bnFY2025Operating margin 7.3%

NGK Insulators¥670bnFY2025Operating margin 14.2%

Shinagawarifurakutorizu¥144bnFY2024Operating margin 9.2%

NORITAKE CO., LIMITED¥143bnFY2025Operating margin 7.8%

INAX CorporationDelisted 2001

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 ¥670bn

CAGR · 10 yrs +5.9%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	401	n/a	Cons. · Japanese GAAP
FYE Mar 2018	451	+12.4%	Cons. · Japanese GAAP
FYE Mar 2019	464	+2.7%	Cons. · Japanese GAAP
FYE Mar 2020	442	−4.6%	Cons. · Japanese GAAP
FYE Mar 2021	452	+2.3%	Cons. · Japanese GAAP
FYE Mar 2022	510	+12.9%	Cons. · Japanese GAAP
FYE Mar 2023	559	+9.6%	Cons. · Japanese GAAP
FYE Mar 2024	579	+3.5%	Cons. · Japanese GAAP
FYE Mar 2025	620	+7.0%	Cons. · Japanese GAAP
FYE Mar 2026	670	+8.2%	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 ¥475bn

CAGR · 10 yrs +6.4%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	272	n/a	Cons. · Japanese GAAP
FYE Mar 2018	312	+14.6%	Cons. · Japanese GAAP
FYE Mar 2019	323	+3.6%	Cons. · Japanese GAAP
FYE Mar 2020	313	−3.0%	Cons. · Japanese GAAP
FYE Mar 2021	329	+5.0%	Cons. · Japanese GAAP
FYE Mar 2022	348	+5.7%	Cons. · Japanese GAAP
FYE Mar 2023	405	+16.6%	Cons. · Japanese GAAP
FYE Mar 2024	423	+4.3%	Cons. · Japanese GAAP
FYE Mar 2025	444	+4.8%	Cons. · Japanese GAAP
FYE Mar 2026	475	+7.1%	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 ¥195bn

CAGR · 10 yrs +4.7%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	129	n/a	Cons. · Japanese GAAP
FYE Mar 2018	139	+7.9%	Cons. · Japanese GAAP
FYE Mar 2019	140	+0.9%	Cons. · Japanese GAAP
FYE Mar 2020	128	−8.4%	Cons. · Japanese GAAP
FYE Mar 2021	123	−4.3%	Cons. · Japanese GAAP
FYE Mar 2022	163	+32.3%	Cons. · Japanese GAAP
FYE Mar 2023	154	−5.5%	Cons. · Japanese GAAP
FYE Mar 2024	156	+1.4%	Cons. · Japanese GAAP
FYE Mar 2025	176	+12.9%	Cons. · Japanese GAAP
FYE Mar 2026	195	+10.9%	Cons. · Japanese GAAP

Definition: What the product or service itself earns
Formula: Revenue − cost of sales
Source: Securities report (XBRL)

SG&A selling, general and administrative expenses

FYE Mar 2026 ¥100bn

CAGR · 10 yrs +4.8%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	65.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.0	+5.1%	Cons. · Japanese GAAP
FYE Mar 2019	75.6	+9.5%	Cons. · Japanese GAAP
FYE Mar 2020	73.5	−2.7%	Cons. · Japanese GAAP
FYE Mar 2021	72.2	−1.8%	Cons. · Japanese GAAP
FYE Mar 2022	79.2	+9.7%	Cons. · Japanese GAAP
FYE Mar 2023	87.0	+9.9%	Cons. · Japanese GAAP
FYE Mar 2024	89.5	+2.8%	Cons. · Japanese GAAP
FYE Mar 2025	94.7	+5.9%	Cons. · Japanese GAAP
FYE Mar 2026	100	+5.7%	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 ¥95bn

CAGR · 10 yrs +4.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	63.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	70.0	+10.8%	Cons. · Japanese GAAP
FYE Mar 2019	64.7	−7.6%	Cons. · Japanese GAAP
FYE Mar 2020	55.0	−15.0%	Cons. · Japanese GAAP
FYE Mar 2021	50.8	−7.6%	Cons. · Japanese GAAP
FYE Mar 2022	83.5	+64.3%	Cons. · Japanese GAAP
FYE Mar 2023	66.8	−20.1%	Cons. · Japanese GAAP
FYE Mar 2024	66.4	−0.5%	Cons. · Japanese GAAP
FYE Mar 2025	81.2	+22.4%	Cons. · Japanese GAAP
FYE Mar 2026	95.0	+16.9%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥10bn

CAGR · 10 yrs +9.6%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	4.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.4	+62.2%	Cons. · Japanese GAAP
FYE Mar 2019	5.4	−27.3%	Cons. · Japanese GAAP
FYE Mar 2020	6.0	+10.7%	Cons. · Japanese GAAP
FYE Mar 2021	8.2	+37.7%	Cons. · Japanese GAAP
FYE Mar 2022	7.9	−3.1%	Cons. · Japanese GAAP
FYE Mar 2023	6.0	−24.3%	Cons. · Japanese GAAP
FYE Mar 2024	5.9	−1.7%	Cons. · Japanese GAAP
FYE Mar 2025	6.9	+16.2%	Cons. · Japanese GAAP
FYE Mar 2026	10.4	+50.9%	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 ¥10bn

CAGR · 10 yrs +13.7%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.8	+111.7%	Cons. · Japanese GAAP
FYE Mar 2019	5.7	−16.7%	Cons. · Japanese GAAP
FYE Mar 2020	9.0	+58.8%	Cons. · Japanese GAAP
FYE Mar 2021	6.0	−33.2%	Cons. · Japanese GAAP
FYE Mar 2022	5.2	−13.1%	Cons. · Japanese GAAP
FYE Mar 2023	6.9	+31.9%	Cons. · Japanese GAAP
FYE Mar 2024	9.3	+34.6%	Cons. · Japanese GAAP
FYE Mar 2025	9.9	+6.4%	Cons. · Japanese GAAP
FYE Mar 2026	10.2	+3.1%	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 ¥95bn

CAGR · 10 yrs +4.4%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	64.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	70.6	+9.4%	Cons. · Japanese GAAP
FYE Mar 2019	64.4	−8.8%	Cons. · Japanese GAAP
FYE Mar 2020	52.0	−19.3%	Cons. · Japanese GAAP
FYE Mar 2021	53.0	+2.0%	Cons. · Japanese GAAP
FYE Mar 2022	86.2	+62.7%	Cons. · Japanese GAAP
FYE Mar 2023	65.9	−23.6%	Cons. · Japanese GAAP
FYE Mar 2024	63.0	−4.3%	Cons. · Japanese GAAP
FYE Mar 2025	78.2	+24.1%	Cons. · Japanese GAAP
FYE Mar 2026	95.2	+21.7%	Cons. · Japanese GAAP

Definition: A level of profit that exists only under Japanese GAAP
Formula: Operating profit + non-operating income − non-operating expenses
Source: Securities report (XBRL)

Extraordinary income

FYE Mar 2026 ¥15bn

CAGR · 10 yrs +11.2%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.9	−66.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.8	−54.9%	Cons. · Japanese GAAP
FYE Mar 2020	5.0	+492.5%	Cons. · Japanese GAAP
FYE Mar 2021	3.5	−29.0%	Cons. · Japanese GAAP
FYE Mar 2022	6.1	+72.9%	Cons. · Japanese GAAP
FYE Mar 2023	2.7	−56.5%	Cons. · Japanese GAAP
FYE Mar 2024	2.0	−24.4%	Cons. · Japanese GAAP
FYE Mar 2025	4.0	+99.7%	Cons. · Japanese GAAP
FYE Mar 2026	14.5	+260.6%	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 ¥60bn

CAGR · 10 yrs +5.7%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	36.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	45.8	+25.9%	Cons. · Japanese GAAP
FYE Mar 2019	35.5	−22.5%	Cons. · Japanese GAAP
FYE Mar 2020	27.1	−23.6%	Cons. · Japanese GAAP
FYE Mar 2021	38.5	+41.9%	Cons. · Japanese GAAP
FYE Mar 2022	70.9	+84.0%	Cons. · Japanese GAAP
FYE Mar 2023	55.0	−22.3%	Cons. · Japanese GAAP
FYE Mar 2024	40.6	−26.3%	Cons. · Japanese GAAP
FYE Mar 2025	54.9	+35.4%	Cons. · Japanese GAAP
FYE Mar 2026	59.9	+9.1%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 29.1%

Average · 10 yrs 29.3%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	32.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.8	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	30.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	29.1	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	27.2	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	31.9	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2023	27.5	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2024	26.9	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	28.4	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	29.1	+0.7pp	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 14.2%

Average · 10 yrs 13.6%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	15.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	14.0	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2020	12.4	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	11.2	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2022	16.4	+5.1pp	Cons. · Japanese GAAP
FYE Mar 2023	11.9	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2024	11.5	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	13.1	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	14.2	+1.1pp	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 14.2%

Average · 10 yrs 13.6%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	16.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	13.9	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2020	11.8	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2021	11.7	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	16.9	+5.2pp	Cons. · Japanese GAAP
FYE Mar 2023	11.8	−5.1pp	Cons. · Japanese GAAP
FYE Mar 2024	10.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	12.6	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2026	14.2	+1.6pp	Cons. · Japanese GAAP

Definition: The share of revenue left at the ordinary-profit line
Formula: Ordinary profit ÷ revenue
Source: Securities report (XBRL)

Net margin

FYE Mar 2026 8.9%

Average · 10 yrs 9.0%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	9.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.2	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	7.7	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2020	6.1	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	8.5	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2022	13.9	+5.4pp	Cons. · Japanese GAAP
FYE Mar 2023	9.8	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2024	7.0	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2025	8.9	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	8.9	+0.1pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 70.9%

Average · 10 yrs 70.7%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	67.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.2	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	69.7	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	70.9	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	72.8	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	68.1	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2023	72.5	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2024	73.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	71.6	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	70.9	−0.7pp	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 14.9%

Average · 10 yrs 15.7%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	16.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.3	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	16.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	16.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	16.0	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	15.5	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	15.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	15.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	15.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	14.9	−0.3pp	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 Mar 2026 ¥1.24tn

CAGR · 10 yrs +5.6%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	759	n/a	Cons. · Japanese GAAP
FYE Mar 2018	826	+8.8%	Cons. · Japanese GAAP
FYE Mar 2019	864	+4.5%	Cons. · Japanese GAAP
FYE Mar 2020	833	−3.5%	Cons. · Japanese GAAP
FYE Mar 2021	909	+9.1%	Cons. · Japanese GAAP
FYE Mar 2022	983	+8.1%	Cons. · Japanese GAAP
FYE Mar 2023	1,029	+4.7%	Cons. · Japanese GAAP
FYE Mar 2024	1,128	+9.6%	Cons. · Japanese GAAP
FYE Mar 2025	1,143	+1.4%	Cons. · Japanese GAAP
FYE Mar 2026	1,243	+8.8%	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 ¥809bn

CAGR · 10 yrs +7.6%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	418	n/a	Cons. · Japanese GAAP
FYE Mar 2018	462	+10.6%	Cons. · Japanese GAAP
FYE Mar 2019	478	+3.6%	Cons. · Japanese GAAP
FYE Mar 2020	459	−4.0%	Cons. · Japanese GAAP
FYE Mar 2021	513	+11.6%	Cons. · Japanese GAAP
FYE Mar 2022	584	+13.9%	Cons. · Japanese GAAP
FYE Mar 2023	636	+8.9%	Cons. · Japanese GAAP
FYE Mar 2024	696	+9.4%	Cons. · Japanese GAAP
FYE Mar 2025	721	+3.5%	Cons. · Japanese GAAP
FYE Mar 2026	809	+12.3%	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 Mar 2026 ¥147bn

CAGR · 10 yrs −1.4%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	167	n/a	Cons. · Japanese GAAP
FYE Mar 2018	191	+14.3%	Cons. · Japanese GAAP
FYE Mar 2019	175	−8.3%	Cons. · Japanese GAAP
FYE Mar 2020	200	+14.2%	Cons. · Japanese GAAP
FYE Mar 2021	217	+8.6%	Cons. · Japanese GAAP
FYE Mar 2022	185	−14.8%	Cons. · Japanese GAAP
FYE Mar 2023	178	−3.6%	Cons. · Japanese GAAP
FYE Mar 2024	166	−6.8%	Cons. · Japanese GAAP
FYE Mar 2025	159	−4.4%	Cons. · Japanese GAAP
FYE Mar 2026	147	−7.5%	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 ¥7.4bn

CAGR · 10 yrs +2.3%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.0	−0.8%	Cons. · Japanese GAAP
FYE Mar 2019	4.2	−29.1%	Cons. · Japanese GAAP
FYE Mar 2020	6.4	+51.5%	Cons. · Japanese GAAP
FYE Mar 2021	18.0	+181.7%	Cons. · Japanese GAAP
FYE Mar 2022	6.2	−65.7%	Cons. · Japanese GAAP
FYE Mar 2023	11.1	+79.8%	Cons. · Japanese GAAP
FYE Mar 2024	11.3	+1.8%	Cons. · Japanese GAAP
FYE Mar 2025	20.3	+78.6%	Cons. · Japanese GAAP
FYE Mar 2026	7.4	−63.7%	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 ¥140bn

CAGR · 10 yrs −2.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	168	n/a	Cons. · Japanese GAAP
FYE Mar 2018	196	+16.3%	Cons. · Japanese GAAP
FYE Mar 2019	200	+2.3%	Cons. · Japanese GAAP
FYE Mar 2020	203	+1.4%	Cons. · Japanese GAAP
FYE Mar 2021	221	+9.0%	Cons. · Japanese GAAP
FYE Mar 2022	211	−4.5%	Cons. · Japanese GAAP
FYE Mar 2023	202	−4.2%	Cons. · Japanese GAAP
FYE Mar 2024	196	−3.1%	Cons. · Japanese GAAP
FYE Mar 2025	175	−10.7%	Cons. · Japanese GAAP
FYE Mar 2026	140	−20.2%	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 · 8 yrs +28.2%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	25.0	+150.0%	Cons. · Japanese GAAP
FYE Mar 2020	25.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	25.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	35.0	+40.0%	Cons. · Japanese GAAP
FYE Mar 2023	40.0	+14.3%	Cons. · Japanese GAAP
FYE Mar 2024	52.0	+30.0%	Cons. · Japanese GAAP
FYE Mar 2025	57.0	+9.6%	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 ¥6.2bn

CAGR · 10 yrs +8.5%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.7	+23.5%	Cons. · Japanese GAAP
FYE Mar 2019	3.7	+1.1%	Cons. · Japanese GAAP
FYE Mar 2020	3.5	−6.5%	Cons. · Japanese GAAP
FYE Mar 2021	5.1	+46.4%	Cons. · Japanese GAAP
FYE Mar 2022	6.2	+22.3%	Cons. · Japanese GAAP
FYE Mar 2023	6.4	+3.5%	Cons. · Japanese GAAP
FYE Mar 2024	6.7	+3.8%	Cons. · Japanese GAAP
FYE Mar 2025	6.2	−7.6%	Cons. · Japanese GAAP
FYE Mar 2026	6.2	+0.6%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 65.1%

Average · 10 yrs 58.9%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	55.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	55.9	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	55.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	55.1	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	56.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	59.4	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2023	61.8	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2024	61.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	63.0	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	65.1	+2.0pp	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 18.2%

Average · 10 yrs 32.8%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	40.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	36.6	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2020	43.6	+7.0pp	Cons. · Japanese GAAP
FYE Mar 2021	42.4	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2022	31.7	−10.7pp	Cons. · Japanese GAAP
FYE Mar 2023	28.1	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2024	23.9	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2025	22.1	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	18.2	−3.9pp	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 7.4%

Average · 10 yrs 8.1%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	8.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.9	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	7.4	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2020	5.9	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	7.5	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	12.1	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2023	8.7	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2024	5.8	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2025	7.6	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	7.4	−0.2pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 4.8%

Average · 10 yrs 4.8%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	4.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.5	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	4.1	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	3.3	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	4.2	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	7.2	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2023	5.3	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	3.6	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	4.8	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	4.8	−0.0pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.54×

CAGR · 10 yrs +0.2%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.53	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.55	+3.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.54	−1.7%	Cons. · Japanese GAAP
FYE Mar 2020	0.53	−1.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.50	−6.3%	Cons. · Japanese GAAP
FYE Mar 2022	0.52	+4.4%	Cons. · Japanese GAAP
FYE Mar 2023	0.54	+4.6%	Cons. · Japanese GAAP
FYE Mar 2024	0.51	−5.5%	Cons. · Japanese GAAP
FYE Mar 2025	0.54	+5.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.54	−0.6%	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 ¥138bn

CAGR · 10 yrs +6.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	80.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50.6	−36.9%	Cons. · Japanese GAAP
FYE Mar 2019	61.2	+21.1%	Cons. · Japanese GAAP
FYE Mar 2020	53.2	−13.1%	Cons. · Japanese GAAP
FYE Mar 2021	85.6	+61.0%	Cons. · Japanese GAAP
FYE Mar 2022	94.8	+10.7%	Cons. · Japanese GAAP
FYE Mar 2023	97.9	+3.3%	Cons. · Japanese GAAP
FYE Mar 2024	99.2	+1.2%	Cons. · Japanese GAAP
FYE Mar 2025	96.7	−2.5%	Cons. · Japanese GAAP
FYE Mar 2026	138	+42.8%	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 -¥77bn

Average · 10 yrs -¥63bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-56.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-49.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-110	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-60.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-51.7	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-46.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-52.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-68.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-55.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-77.1	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 -¥48bn

Average · 10 yrs -¥19bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-13.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	3.6	−84.2%	Cons. · Japanese GAAP
FYE Mar 2020	-18.8	−627.4%	Cons. · Japanese GAAP
FYE Mar 2021	12.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-45.3	−469.5%	Cons. · Japanese GAAP
FYE Mar 2023	-34.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-36.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-34.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-48.3	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 ¥200bn

CAGR · 10 yrs +3.6%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	145	n/a	Cons. · Japanese GAAP
FYE Mar 2018	170	+17.4%	Cons. · Japanese GAAP
FYE Mar 2019	124	−27.0%	Cons. · Japanese GAAP
FYE Mar 2020	94.7	−23.6%	Cons. · Japanese GAAP
FYE Mar 2021	146	+54.2%	Cons. · Japanese GAAP
FYE Mar 2022	155	+6.0%	Cons. · Japanese GAAP
FYE Mar 2023	169	+9.0%	Cons. · Japanese GAAP
FYE Mar 2024	171	+1.5%	Cons. · Japanese GAAP
FYE Mar 2025	178	+3.7%	Cons. · Japanese GAAP
FYE Mar 2026	200	+12.3%	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 Mar 2026 ¥61bn

CAGR · 10 yrs +11.0%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	23.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.1	−95.2%	Cons. · Japanese GAAP
FYE Mar 2019	-48.5	−4352.3%	Cons. · Japanese GAAP
FYE Mar 2020	-7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	33.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	48.5	+43.1%	Cons. · Japanese GAAP
FYE Mar 2023	45.9	−5.4%	Cons. · Japanese GAAP
FYE Mar 2024	30.6	−33.5%	Cons. · Japanese GAAP
FYE Mar 2025	41.6	+36.0%	Cons. · Japanese GAAP
FYE Mar 2026	60.9	+46.4%	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 20.6%

Average · 10 yrs 16.5%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	20.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.2	−8.8pp	Cons. · Japanese GAAP
FYE Mar 2019	13.2	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2020	12.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	18.9	+6.9pp	Cons. · Japanese GAAP
FYE Mar 2022	18.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	17.5	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	17.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	15.6	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	20.6	+5.0pp	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 ¥53bn

Average · 10 yrs -¥24bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-22.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-21.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-51.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-105	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-71.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-30.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-9.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	18.7	+273.3%	Cons. · Japanese GAAP
FYE Mar 2026	52.6	+181.5%	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 ¥1.16tn

Change · 10 yrs +¥337bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	827	n/a
FYE Mar 2018	602	n/a
FYE Mar 2019	528	n/a
FYE Mar 2020	456	n/a
FYE Mar 2021	650	n/a
FYE Mar 2022	553	n/a
FYE Mar 2023	548	n/a
FYE Mar 2024	638	n/a
FYE Mar 2025	549	n/a
FYE Mar 2026	1,164	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 3,982¥

Change · 10 yrs +1,457¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	2,525	n/a
FYE Mar 2018	1,837	n/a
FYE Mar 2019	1,611	n/a
FYE Mar 2020	1,415	n/a
FYE Mar 2021	2,019	n/a
FYE Mar 2022	1,745	n/a
FYE Mar 2023	1,757	n/a
FYE Mar 2024	2,045	n/a
FYE Mar 2025	1,841	n/a
FYE Mar 2026	3,982	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 292,243,496shares

Change · 10 yrs −35,316,700 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	327,560,196	Parent
FYE Mar 2018	327,560,196	Parent
FYE Mar 2019	327,560,196	Parent
FYE Mar 2020	322,211,996	Parent
FYE Mar 2021	322,211,996	Parent
FYE Mar 2022	317,211,996	Parent
FYE Mar 2023	311,829,996	Parent
FYE Mar 2024	311,956,996	Parent
FYE Mar 2025	297,956,996	Parent
FYE Mar 2026	292,243,496	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 206.32¥

Change · 10 yrs +93.61¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	112.71	Cons.
FYE Mar 2018	142.42	Cons.
FYE Mar 2019	110.35	Cons.
FYE Mar 2020	84.73	Cons.
FYE Mar 2021	121.61	Cons.
FYE Mar 2022	226.56	Cons.
FYE Mar 2023	177.47	Cons.
FYE Mar 2024	133.65	Cons.
FYE Mar 2025	185.96	Cons.
FYE Mar 2026	206.32	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 2,769.05¥

Change · 10 yrs +1,494.05¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,275.00	Cons. · Japanese GAAP
FYE Mar 2018	1,409.95	Cons. · Japanese GAAP
FYE Mar 2019	1,460.62	Cons. · Japanese GAAP
FYE Mar 2020	1,425.71	Cons. · Japanese GAAP
FYE Mar 2021	1,591.73	Cons. · Japanese GAAP
FYE Mar 2022	1,841.32	Cons. · Japanese GAAP
FYE Mar 2023	2,040.63	Cons. · Japanese GAAP
FYE Mar 2024	2,231.97	Cons. · Japanese GAAP
FYE Mar 2025	2,418.41	Cons. · Japanese GAAP
FYE Mar 2026	2,769.05	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 19.30×

Average · 10 yrs 14.53×

Fiscal year	PER ×	Basis
FYE Mar 2017	22.40	Cons.
FYE Mar 2018	12.90	Cons.
FYE Mar 2019	14.60	Cons.
FYE Mar 2020	16.70	Cons.
FYE Mar 2021	16.60	Cons.
FYE Mar 2022	7.70	Cons.
FYE Mar 2023	9.90	Cons.
FYE Mar 2024	15.30	Cons.
FYE Mar 2025	9.90	Cons.
FYE Mar 2026	19.30	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 1.42×

Average · 10 yrs 1.14×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.95	Cons.
FYE Mar 2018	1.28	Cons.
FYE Mar 2019	1.09	Cons.
FYE Mar 2020	0.98	Cons.
FYE Mar 2021	1.25	Cons.
FYE Mar 2022	0.93	Cons.
FYE Mar 2023	0.85	Cons.
FYE Mar 2024	0.88	Cons.
FYE Mar 2025	0.75	Cons.
FYE Mar 2026	1.42	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 19,869people

Change · 10 yrs +2,352 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	17,517	n/a	Cons.
FYE Mar 2018	18,783	+7.2%	Cons.
FYE Mar 2019	20,115	+7.1%	Cons.
FYE Mar 2020	20,000	−0.6%	Cons.
FYE Mar 2021	19,695	−1.5%	Cons.
FYE Mar 2022	20,099	+2.1%	Cons.
FYE Mar 2023	20,077	−0.1%	Cons.
FYE Mar 2024	19,540	−2.7%	Cons.
FYE Mar 2025	19,931	+2.0%	Cons.
FYE Mar 2026	19,869	−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 5,024people

Change · 10 yrs +1,087 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	3,937	n/a	Parent
FYE Mar 2018	4,142	+5.2%	Parent
FYE Mar 2019	4,119	−0.6%	Parent
FYE Mar 2020	4,224	+2.5%	Parent
FYE Mar 2021	4,316	+2.2%	Parent
FYE Mar 2022	4,382	+1.5%	Parent
FYE Mar 2023	4,547	+3.8%	Parent
FYE Mar 2024	4,775	+5.0%	Parent
FYE Mar 2025	4,876	+2.1%	Parent
FYE Mar 2026	5,024	+3.0%	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 920万円

Change · 10 yrs +134万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	786	n/a	Parent
FYE Mar 2018	785	−0.1%	Parent
FYE Mar 2019	789	+0.5%	Parent
FYE Mar 2020	777	−1.5%	Parent
FYE Mar 2021	764	−1.7%	Parent
FYE Mar 2022	770	+0.8%	Parent
FYE Mar 2023	824	+7.1%	Parent
FYE Mar 2024	855	+3.8%	Parent
FYE Mar 2025	845	−1.2%	Parent
FYE Mar 2026	920	+8.8%	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 40.7years

Change · 8 yrs +2.0 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	38.7	n/a	Parent
FYE Mar 2020	38.8	+0.3%	Parent
FYE Mar 2021	39.2	+1.0%	Parent
FYE Mar 2022	39.6	+1.0%	Parent
FYE Mar 2023	39.4	−0.5%	Parent
FYE Mar 2024	40.2	+2.0%	Parent
FYE Mar 2025	40.5	+0.7%	Parent
FYE Mar 2026	40.7	+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 15.4years

Change · 10 yrs +0.8 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	14.6	n/a	Parent
FYE Mar 2018	13.7	−6.2%	Parent
FYE Mar 2019	13.5	−1.5%	Parent
FYE Mar 2020	13.7	+1.5%	Parent
FYE Mar 2021	14.3	+4.4%	Parent
FYE Mar 2022	14.7	+2.8%	Parent
FYE Mar 2023	14.8	+0.7%	Parent
FYE Mar 2024	15.0	+1.4%	Parent
FYE Mar 2025	15.2	+1.3%	Parent
FYE Mar 2026	15.4	+1.3%	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 Mar 2026 2,350people

Change · 10 yrs −1,101 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	3,451	n/a	n/a
FYE Mar 2018	3,700	+7.2%	n/a
FYE Mar 2019	3,305	−10.7%	n/a
FYE Mar 2020	3,310	+0.2%	n/a
FYE Mar 2021	2,941	−11.1%	n/a
FYE Mar 2022	2,896	−1.5%	n/a
FYE Mar 2023	2,637	−8.9%	n/a
FYE Mar 2024	2,791	+5.8%	n/a
FYE Mar 2025	2,704	−3.1%	n/a
FYE Mar 2026	2,350	−13.1%	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 ¥33.7m

Change · 10 yrs +¥10.8m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	22.9	n/a	Cons.
FYE Mar 2018	24.0	+4.8%	Cons.
FYE Mar 2019	23.0	−4.1%	Cons.
FYE Mar 2020	22.1	−4.1%	Cons.
FYE Mar 2021	23.0	+3.9%	Cons.
FYE Mar 2022	25.4	+10.6%	Cons.
FYE Mar 2023	27.9	+9.7%	Cons.
FYE Mar 2024	29.6	+6.4%	Cons.
FYE Mar 2025	31.1	+4.9%	Cons.
FYE Mar 2026	33.7	+8.5%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥4.8m

Change · 10 yrs +¥1.2m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.6	n/a	Cons.
FYE Mar 2018	3.7	+3.3%	Cons.
FYE Mar 2019	3.2	−13.7%	Cons.
FYE Mar 2020	2.8	−14.5%	Cons.
FYE Mar 2021	2.6	−6.2%	Cons.
FYE Mar 2022	4.2	+61.0%	Cons.
FYE Mar 2023	3.3	−20.0%	Cons.
FYE Mar 2024	3.4	+2.2%	Cons.
FYE Mar 2025	4.1	+20.0%	Cons.
FYE Mar 2026	4.8	+17.3%	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

NGK Insulators’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/5333/company.json ·/api/5333/history.json ·/api/5333/ceo.json ·/api/5333/financials.json ·/api/5333/financials/segment.json ·/api/5333/financials/pl.json ·/api/5333/financials/cf.json ·/api/5333/financials/bs.json ·/api/5333/financials/employee.json ·/api/5333/financials/stock.json ·/api/5333/financials.csv ·/api/5333/financials_history.csv

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