Financials

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

FYE Mar 2026 · Revenue¥252bnYoY −1.8%

FYE Mar 2026 · Operating profit¥37bnYoY −6.8%

FYE Mar 2026 · Net profit¥32bnYoY −1.4%

FYE Mar 2026 · Equity ratio77.7%YoY +3.1pp

FYE Mar 2026 · Group employees6,424YoY +51

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥180bn	n/a	¥20bn	n/a	10.9%	¥13bn	Takei Toshiyuki	Acquires the gasket maker Nihon Reinz (now APJ)
FYE Mar 2018Consolidated	¥197bn	+9.5%	¥21bn	+9.0%	10.8%	¥15bn	Takei Toshiyuki	First double-digit operating margin in a decade
FYE Mar 2019Consolidated	¥215bn	+9.1%	¥23bn	+6.0%	10.5%	¥16bn	Takei Toshiyuki	—
FYE Mar 2020Consolidated	¥209bn	−3.1%	¥20bn	−9.7%	9.8%	¥15bn	Takei Toshiyuki	—
FYE Mar 2021Consolidated	¥196bn	−6.0%	¥20bn	−4.0%	10.0%	¥11bn	Takei Toshiyuki	—
FYE Mar 2022Consolidated	¥216bn	+10.1%	¥26bn	+33.9%	12.1%	¥22bn	Takei Toshiyuki	Group carbon-neutral declaration; <a class="en-history_person" href="/tse/5393/executives/ceo/kametsu-katsumi/" hreflang="ja">Kametsu Katsumi</a> becomes president
FYE Mar 2023Consolidated	¥238bn	+10.1%	¥30bn	+14.0%	12.6%	¥21bn	Kametsu Katsumi	Mid-term plan “Shikumi 130”
FYE Mar 2024Consolidated	¥249bn	+4.7%	¥35bn	+17.5%	14.1%	¥27bn	Kametsu Katsumi	—
FYE Mar 2025Consolidated	¥257bn	+2.9%	¥40bn	+12.8%	15.5%	¥32bn	Kametsu Katsumi	—
FYE Mar 2026Consolidated	¥252bn	−1.8%	¥37bn	−6.8%	14.7%	¥32bn	Kametsu Katsumi	15.5% operating margin; payout ratio raised to 50%+

How it compares

Fujifilm Holdings¥3.36tnFY2025Operating margin 10.4%Nitto Denko¥1.03tnFY2025Operating margin 17.9%Mitsubishi Gas Chemical¥738bnFY2025Operating margin 6.1%

Hitachi ChemicalDelisted 2020

Adeka¥417bnFY2025Operating margin 10.0%

ZEON CORPORATION¥412bnFY2025Operating margin 8.8%

Nippon Shokubai¥400bnFY2025Operating margin 4.4%

LINTEC¥319bnFY2025Operating margin 7.9%

Nissan Chemical¥280bnFY2025Operating margin 22.7%NOF Corporation¥258bnFY2025Operating margin 18.4%

Nichias¥252bnFY2025Operating margin 14.7%

Income statement Revenue, costs, each level of profit and the margins they leave

Where the revenue goes

¥ bn

Cost of sales SG&A Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥252bn

CAGR · 10 yrs +3.8%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	180	n/a	Cons. · Japanese GAAP
FYE Mar 2018	197	+9.5%	Cons. · Japanese GAAP
FYE Mar 2019	215	+9.1%	Cons. · Japanese GAAP
FYE Mar 2020	209	−3.1%	Cons. · Japanese GAAP
FYE Mar 2021	196	−6.0%	Cons. · Japanese GAAP
FYE Mar 2022	216	+10.1%	Cons. · Japanese GAAP
FYE Mar 2023	238	+10.1%	Cons. · Japanese GAAP
FYE Mar 2024	249	+4.7%	Cons. · Japanese GAAP
FYE Mar 2025	257	+2.9%	Cons. · Japanese GAAP
FYE Mar 2026	252	−1.8%	Cons. · Japanese GAAP

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

Cost of sales

FYE Mar 2026 ¥182bn

CAGR · 10 yrs +3.3%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	135	n/a	Cons. · Japanese GAAP
FYE Mar 2018	150	+10.5%	Cons. · Japanese GAAP
FYE Mar 2019	165	+10.2%	Cons. · Japanese GAAP
FYE Mar 2020	161	−2.5%	Cons. · Japanese GAAP
FYE Mar 2021	150	−6.5%	Cons. · Japanese GAAP
FYE Mar 2022	163	+8.3%	Cons. · Japanese GAAP
FYE Mar 2023	180	+10.6%	Cons. · Japanese GAAP
FYE Mar 2024	185	+2.5%	Cons. · Japanese GAAP
FYE Mar 2025	186	+0.6%	Cons. · Japanese GAAP
FYE Mar 2026	182	−2.0%	Cons. · Japanese GAAP

Definition: The cost of what was sold
Formula: Cost of sales line of the income statement
Source: Securities report (XBRL)

Gross profit

FYE Mar 2026 ¥70bn

CAGR · 10 yrs +5.0%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	45.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	47.9	+6.5%	Cons. · Japanese GAAP
FYE Mar 2019	50.6	+5.6%	Cons. · Japanese GAAP
FYE Mar 2020	48.2	−4.9%	Cons. · Japanese GAAP
FYE Mar 2021	46.1	−4.3%	Cons. · Japanese GAAP
FYE Mar 2022	53.4	+15.9%	Cons. · Japanese GAAP
FYE Mar 2023	58.0	+8.7%	Cons. · Japanese GAAP
FYE Mar 2024	64.8	+11.6%	Cons. · Japanese GAAP
FYE Mar 2025	70.8	+9.3%	Cons. · Japanese GAAP
FYE Mar 2026	69.9	−1.2%	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 ¥33bn

CAGR · 10 yrs +2.9%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	25.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.6	+4.6%	Cons. · Japanese GAAP
FYE Mar 2019	28.0	+5.3%	Cons. · Japanese GAAP
FYE Mar 2020	27.7	−1.0%	Cons. · Japanese GAAP
FYE Mar 2021	26.4	−4.6%	Cons. · Japanese GAAP
FYE Mar 2022	27.1	+2.5%	Cons. · Japanese GAAP
FYE Mar 2023	28.1	+3.5%	Cons. · Japanese GAAP
FYE Mar 2024	29.6	+5.3%	Cons. · Japanese GAAP
FYE Mar 2025	31.0	+5.0%	Cons. · Japanese GAAP
FYE Mar 2026	32.9	+5.9%	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 ¥37bn

CAGR · 10 yrs +7.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	19.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.4	+9.0%	Cons. · Japanese GAAP
FYE Mar 2019	22.6	+6.0%	Cons. · Japanese GAAP
FYE Mar 2020	20.4	−9.7%	Cons. · Japanese GAAP
FYE Mar 2021	19.6	−4.0%	Cons. · Japanese GAAP
FYE Mar 2022	26.3	+33.9%	Cons. · Japanese GAAP
FYE Mar 2023	30.0	+14.0%	Cons. · Japanese GAAP
FYE Mar 2024	35.2	+17.5%	Cons. · Japanese GAAP
FYE Mar 2025	39.7	+12.8%	Cons. · Japanese GAAP
FYE Mar 2026	37.0	−6.8%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥3.0bn

CAGR · 10 yrs +11.7%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.2	+5.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.6	+34.4%	Cons. · Japanese GAAP
FYE Mar 2020	2.3	+46.8%	Cons. · Japanese GAAP
FYE Mar 2021	2.2	−5.5%	Cons. · Japanese GAAP
FYE Mar 2022	4.7	+116.8%	Cons. · Japanese GAAP
FYE Mar 2023	3.5	−25.4%	Cons. · Japanese GAAP
FYE Mar 2024	4.0	+14.1%	Cons. · Japanese GAAP
FYE Mar 2025	2.6	−35.3%	Cons. · Japanese GAAP
FYE Mar 2026	3.0	+15.1%	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 ¥0.6bn

CAGR · 10 yrs −4.8%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.7	−24.5%	Cons. · Japanese GAAP
FYE Mar 2019	1.0	+42.8%	Cons. · Japanese GAAP
FYE Mar 2020	1.1	+6.4%	Cons. · Japanese GAAP
FYE Mar 2021	0.5	−54.2%	Cons. · Japanese GAAP
FYE Mar 2022	0.4	−24.9%	Cons. · Japanese GAAP
FYE Mar 2023	0.4	−2.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.4	+11.9%	Cons. · Japanese GAAP
FYE Mar 2025	0.6	+52.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.6	−2.4%	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 ¥39bn

CAGR · 10 yrs +8.0%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	19.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.8	+10.4%	Cons. · Japanese GAAP
FYE Mar 2019	23.2	+6.3%	Cons. · Japanese GAAP
FYE Mar 2020	21.6	−6.6%	Cons. · Japanese GAAP
FYE Mar 2021	21.3	−1.6%	Cons. · Japanese GAAP
FYE Mar 2022	30.6	+43.7%	Cons. · Japanese GAAP
FYE Mar 2023	33.1	+8.2%	Cons. · Japanese GAAP
FYE Mar 2024	38.8	+17.2%	Cons. · Japanese GAAP
FYE Mar 2025	41.7	+7.5%	Cons. · Japanese GAAP
FYE Mar 2026	39.4	−5.6%	Cons. · Japanese GAAP

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

Extraordinary income

FYE Mar 2026 ¥0.3bn

CAGR · 10 yrs +49.8%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.1	+587.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	+110.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.1	−45.7%	Cons. · Japanese GAAP
FYE Mar 2021	0.6	+855.6%	Cons. · Japanese GAAP
FYE Mar 2022	2.2	+262.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−98.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.2	+552.9%	Cons. · Japanese GAAP
FYE Mar 2025	5.2	+2241.4%	Cons. · Japanese GAAP
FYE Mar 2026	0.3	−94.2%	Cons. · Japanese GAAP

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

Extraordinary loss

FYE Mar 2026 ¥966m

CAGR · 5 yrs +6.4%

Fiscal year	Extraordinary loss ¥ m	YoY	Basis
FYE Mar 2017	754	n/a	Cons. · Japanese GAAP
FYE Mar 2018	635	−15.8%	Cons. · Japanese GAAP
FYE Mar 2019	456	−28.2%	Cons. · Japanese GAAP
FYE Mar 2020	659	+44.5%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	966	n/a	Cons. · Japanese GAAP

Definition: One-off losses, such as an impairment or a restructuring charge
Formula: Extraordinary loss line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥32bn

CAGR · 10 yrs +10.0%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	13.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.0	+11.5%	Cons. · Japanese GAAP
FYE Mar 2019	15.9	+6.1%	Cons. · Japanese GAAP
FYE Mar 2020	14.7	−7.5%	Cons. · Japanese GAAP
FYE Mar 2021	10.7	−27.0%	Cons. · Japanese GAAP
FYE Mar 2022	22.0	+105.6%	Cons. · Japanese GAAP
FYE Mar 2023	21.4	−2.9%	Cons. · Japanese GAAP
FYE Mar 2024	27.0	+26.0%	Cons. · Japanese GAAP
FYE Mar 2025	32.1	+19.0%	Cons. · Japanese GAAP
FYE Mar 2026	31.6	−1.4%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 27.7%

Average · 10 yrs 25.0%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	25.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.3	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	23.5	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	23.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	23.5	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	24.7	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	24.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	26.0	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	27.6	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	27.7	+0.2pp	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 Mar 2026 14.7%

Average · 10 yrs 12.1%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	10.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	10.5	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	9.8	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	10.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	12.1	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2023	12.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	14.1	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	15.5	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	14.7	−0.8pp	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 15.6%

Average · 10 yrs 12.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	11.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	10.8	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	10.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	10.8	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	14.1	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2023	13.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	15.6	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	16.3	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	15.6	−0.6pp	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 12.6%

Average · 10 yrs 9.0%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	7.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	7.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	5.5	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	10.2	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2023	9.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2024	10.8	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	12.5	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2026	12.6	+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 72.3%

Average · 10 yrs 75.0%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	75.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	75.7	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	76.5	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	76.9	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	76.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	75.3	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	75.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	74.0	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	72.4	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	72.3	−0.2pp	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 Mar 2026 13.1%

Average · 10 yrs 12.9%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	14.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.5	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	13.0	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	13.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	13.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	12.5	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	11.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	11.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	12.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	13.1	+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 ¥307bn

CAGR · 10 yrs +6.4%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	176	n/a	Cons. · Japanese GAAP
FYE Mar 2018	196	+11.6%	Cons. · Japanese GAAP
FYE Mar 2019	206	+5.1%	Cons. · Japanese GAAP
FYE Mar 2020	208	+0.8%	Cons. · Japanese GAAP
FYE Mar 2021	220	+5.5%	Cons. · Japanese GAAP
FYE Mar 2022	247	+12.4%	Cons. · Japanese GAAP
FYE Mar 2023	267	+8.1%	Cons. · Japanese GAAP
FYE Mar 2024	291	+8.9%	Cons. · Japanese GAAP
FYE Mar 2025	289	−0.6%	Cons. · Japanese GAAP
FYE Mar 2026	307	+6.3%	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 ¥239bn

CAGR · 10 yrs +10.5%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	97.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	109	+12.1%	Cons. · Japanese GAAP
FYE Mar 2019	117	+7.0%	Cons. · Japanese GAAP
FYE Mar 2020	126	+8.1%	Cons. · Japanese GAAP
FYE Mar 2021	135	+7.2%	Cons. · Japanese GAAP
FYE Mar 2022	154	+13.9%	Cons. · Japanese GAAP
FYE Mar 2023	172	+11.7%	Cons. · Japanese GAAP
FYE Mar 2024	200	+15.9%	Cons. · Japanese GAAP
FYE Mar 2025	215	+7.9%	Cons. · Japanese GAAP
FYE Mar 2026	239	+10.7%	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 ¥9.8bn

CAGR · 10 yrs −2.8%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	12.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.7	+0.3%	Cons. · Japanese GAAP
FYE Mar 2019	10.7	−15.8%	Cons. · Japanese GAAP
FYE Mar 2020	10.5	−1.2%	Cons. · Japanese GAAP
FYE Mar 2021	10.7	+1.8%	Cons. · Japanese GAAP
FYE Mar 2022	10.8	+0.5%	Cons. · Japanese GAAP
FYE Mar 2023	15.5	+43.8%	Cons. · Japanese GAAP
FYE Mar 2024	16.8	+8.5%	Cons. · Japanese GAAP
FYE Mar 2025	9.9	−41.3%	Cons. · Japanese GAAP
FYE Mar 2026	9.8	−1.2%	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 ¥9.8bn

CAGR · 10 yrs −1.1%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	10.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.2	+3.2%	Cons. · Japanese GAAP
FYE Mar 2019	7.9	−29.6%	Cons. · Japanese GAAP
FYE Mar 2020	7.2	−8.0%	Cons. · Japanese GAAP
FYE Mar 2021	6.8	−5.8%	Cons. · Japanese GAAP
FYE Mar 2022	10.1	+49.1%	Cons. · Japanese GAAP
FYE Mar 2023	10.5	+3.4%	Cons. · Japanese GAAP
FYE Mar 2024	16.8	+60.3%	Cons. · Japanese GAAP
FYE Mar 2025	9.9	−41.3%	Cons. · Japanese GAAP
FYE Mar 2026	9.8	−1.2%	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 n/a

CAGR · 7 yrs +18.6%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.5	−16.7%	Cons. · Japanese GAAP
FYE Mar 2019	2.8	+86.7%	Cons. · Japanese GAAP
FYE Mar 2020	3.3	+17.9%	Cons. · Japanese GAAP
FYE Mar 2021	3.9	+18.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.6	−84.0%	Cons. · Japanese GAAP
FYE Mar 2023	5.0	+700.0%	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	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 Mar 2026 ¥2.1bn

CAGR · 10 yrs +2.9%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.3	−21.2%	Cons. · Japanese GAAP
FYE Mar 2019	1.2	−4.7%	Cons. · Japanese GAAP
FYE Mar 2020	1.4	+14.3%	Cons. · Japanese GAAP
FYE Mar 2021	1.3	−2.5%	Cons. · Japanese GAAP
FYE Mar 2022	1.4	+5.4%	Cons. · Japanese GAAP
FYE Mar 2023	1.5	+8.4%	Cons. · Japanese GAAP
FYE Mar 2024	1.6	+3.4%	Cons. · Japanese GAAP
FYE Mar 2025	1.5	−4.2%	Cons. · Japanese GAAP
FYE Mar 2026	2.1	+36.9%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 77.7%

Average · 10 yrs 63.8%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	55.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	55.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	56.6	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	60.7	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2021	61.7	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	62.5	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	64.6	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	68.7	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2025	74.5	+5.9pp	Cons. · Japanese GAAP
FYE Mar 2026	77.7	+3.1pp	Cons. · Japanese GAAP

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

Debt-to-equity ratio D/E ratio

FYE Mar 2026 4.1%

Average · 10 yrs 8.3%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	13.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.6	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	9.1	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2020	8.3	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	7.9	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	7.0	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	9.0	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2024	8.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	4.6	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2026	4.1	−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 Mar 2026 13.3%

Average · 10 yrs 12.9%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	13.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	13.6	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	11.6	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2021	7.9	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2022	14.3	+6.4pp	Cons. · Japanese GAAP
FYE Mar 2023	12.4	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	13.5	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	14.9	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	13.3	−1.6pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 10.3%

Average · 10 yrs 8.2%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	7.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	7.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	4.9	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2022	8.9	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2023	8.0	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	9.3	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	11.1	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	10.3	−0.8pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.82×

CAGR · 10 yrs −2.4%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.02	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.01	−1.9%	Cons. · Japanese GAAP
FYE Mar 2019	1.04	+3.8%	Cons. · Japanese GAAP
FYE Mar 2020	1.00	−3.8%	Cons. · Japanese GAAP
FYE Mar 2021	0.89	−10.9%	Cons. · Japanese GAAP
FYE Mar 2022	0.88	−2.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.89	+1.9%	Cons. · Japanese GAAP
FYE Mar 2024	0.86	−3.9%	Cons. · Japanese GAAP
FYE Mar 2025	0.89	+3.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.82	−7.6%	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 ¥24bn

CAGR · 10 yrs −0.4%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	24.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.1	−26.9%	Cons. · Japanese GAAP
FYE Mar 2019	15.8	−12.6%	Cons. · Japanese GAAP
FYE Mar 2020	20.1	+26.9%	Cons. · Japanese GAAP
FYE Mar 2021	18.7	−7.0%	Cons. · Japanese GAAP
FYE Mar 2022	25.1	+34.2%	Cons. · Japanese GAAP
FYE Mar 2023	18.7	−25.6%	Cons. · Japanese GAAP
FYE Mar 2024	19.2	+2.8%	Cons. · Japanese GAAP
FYE Mar 2025	31.2	+63.0%	Cons. · Japanese GAAP
FYE Mar 2026	23.9	−23.4%	Cons. · Japanese GAAP

Definition: Cash the business itself generated
Formula: Cash flow from operating activities
Source: Securities report (XBRL)

Investing cash flow

FYE Mar 2026 -¥10bn

Average · 10 yrs -¥9.1bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-10.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-14.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-11.8	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-9.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-8.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-12.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-10.2	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 -¥17bn

Average · 10 yrs -¥9.4bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-6.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-5.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-6.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-11.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-27.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-17.0	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 ¥57bn

CAGR · 10 yrs +7.6%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	29.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.5	−9.2%	Cons. · Japanese GAAP
FYE Mar 2019	27.7	+4.6%	Cons. · Japanese GAAP
FYE Mar 2020	33.1	+19.4%	Cons. · Japanese GAAP
FYE Mar 2021	39.6	+19.6%	Cons. · Japanese GAAP
FYE Mar 2022	54.4	+37.4%	Cons. · Japanese GAAP
FYE Mar 2023	59.0	+8.4%	Cons. · Japanese GAAP
FYE Mar 2024	55.6	−5.7%	Cons. · Japanese GAAP
FYE Mar 2025	58.6	+5.5%	Cons. · Japanese GAAP
FYE Mar 2026	56.6	−3.4%	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 ¥14bn

CAGR · 10 yrs −0.3%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	14.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.8	−73.5%	Cons. · Japanese GAAP
FYE Mar 2019	4.0	+7.0%	Cons. · Japanese GAAP
FYE Mar 2020	11.1	+175.4%	Cons. · Japanese GAAP
FYE Mar 2021	11.9	+7.5%	Cons. · Japanese GAAP
FYE Mar 2022	19.6	+64.5%	Cons. · Japanese GAAP
FYE Mar 2023	10.0	−48.9%	Cons. · Japanese GAAP
FYE Mar 2024	6.3	−37.3%	Cons. · Japanese GAAP
FYE Mar 2025	30.3	+383.8%	Cons. · Japanese GAAP
FYE Mar 2026	13.8	−54.6%	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 9.5%

Average · 10 yrs 9.8%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	13.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.2	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2019	7.3	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2020	9.6	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2021	9.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	11.6	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2023	7.8	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2024	7.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	12.2	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2026	9.5	−2.7pp	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 ¥47bn

CAGR · 10 yrs +12.2%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	16.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.8	−16.5%	Cons. · Japanese GAAP
FYE Mar 2019	17.1	+23.4%	Cons. · Japanese GAAP
FYE Mar 2020	22.6	+32.3%	Cons. · Japanese GAAP
FYE Mar 2021	28.9	+27.8%	Cons. · Japanese GAAP
FYE Mar 2022	43.6	+51.2%	Cons. · Japanese GAAP
FYE Mar 2023	43.5	−0.4%	Cons. · Japanese GAAP
FYE Mar 2024	38.8	−10.8%	Cons. · Japanese GAAP
FYE Mar 2025	48.7	+25.7%	Cons. · Japanese GAAP
FYE Mar 2026	46.9	−3.8%	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 ¥550bn

Change · 10 yrs +¥399bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	151	n/a
FYE Mar 2018	183	n/a
FYE Mar 2019	149	n/a
FYE Mar 2020	137	n/a
FYE Mar 2021	191	n/a
FYE Mar 2022	171	n/a
FYE Mar 2023	179	n/a
FYE Mar 2024	276	n/a
FYE Mar 2025	313	n/a
FYE Mar 2026	550	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 8,644¥

Change · 10 yrs +7,529¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,115	n/a
FYE Mar 2018	1,348	n/a
FYE Mar 2019	2,196	n/a
FYE Mar 2020	2,013	n/a
FYE Mar 2021	2,811	n/a
FYE Mar 2022	2,525	n/a
FYE Mar 2023	2,645	n/a
FYE Mar 2024	4,066	n/a
FYE Mar 2025	4,619	n/a
FYE Mar 2026	8,644	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 63,661,000shares

Change · 10 yrs −71,962,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	135,623,000	Parent
FYE Mar 2018	135,623,000	Parent
FYE Mar 2019	67,811,000	Parent
FYE Mar 2020	67,811,000	Parent
FYE Mar 2021	67,811,000	Parent
FYE Mar 2022	67,811,000	Parent
FYE Mar 2023	67,811,000	Parent
FYE Mar 2024	67,811,000	Parent
FYE Mar 2025	67,811,000	Parent
FYE Mar 2026	63,661,000	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 165.59¥

Change · 10 yrs −35.23¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	200.82	Cons.
FYE Mar 2018	222.73	Cons.
FYE Mar 2019	238.70	Cons.
FYE Mar 2020	221.21	Cons.
FYE Mar 2021	161.53	Cons.
FYE Mar 2022	110.73	Cons.
FYE Mar 2023	107.53	Cons.
FYE Mar 2024	135.53	Cons.
FYE Mar 2025	163.79	Cons.
FYE Mar 2026	165.59	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 3,746.64¥

Change · 10 yrs +3,028.72¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	717.92	Cons. · Japanese GAAP
FYE Mar 2018	805.14	Cons. · Japanese GAAP
FYE Mar 2019	1,722.23	Cons. · Japanese GAAP
FYE Mar 2020	1,862.49	Cons. · Japanese GAAP
FYE Mar 2021	1,997.15	Cons. · Japanese GAAP
FYE Mar 2022	2,275.25	Cons. · Japanese GAAP
FYE Mar 2023	2,541.77	Cons. · Japanese GAAP
FYE Mar 2024	2,944.68	Cons. · Japanese GAAP
FYE Mar 2025	3,176.79	Cons. · Japanese GAAP
FYE Mar 2026	3,746.64	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 17.40×

Average · 10 yrs 11.15×

Fiscal year	PER ×	Basis
FYE Mar 2017	11.10	Cons.
FYE Mar 2018	12.10	Cons.
FYE Mar 2019	9.20	Cons.
FYE Mar 2020	9.10	Cons.
FYE Mar 2021	17.40	Cons.
FYE Mar 2022	7.60	Cons.
FYE Mar 2023	8.20	Cons.
FYE Mar 2024	10.00	Cons.
FYE Mar 2025	9.40	Cons.
FYE Mar 2026	17.40	Cons.

Definition: How many years of earnings the price stands for
Formula: Year-end price ÷ EPS
Source: Securities report (XBRL)

PBR price-to-book ratio

FYE Mar 2026 2.28×

Average · 10 yrs 1.40×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.55	Cons.
FYE Mar 2018	1.65	Cons.
FYE Mar 2019	1.25	Cons.
FYE Mar 2020	1.06	Cons.
FYE Mar 2021	1.38	Cons.
FYE Mar 2022	1.09	Cons.
FYE Mar 2023	1.02	Cons.
FYE Mar 2024	1.34	Cons.
FYE Mar 2025	1.38	Cons.
FYE Mar 2026	2.28	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 6,424people

Change · 10 yrs +901 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	5,523	n/a	Cons.
FYE Mar 2018	5,784	+4.7%	Cons.
FYE Mar 2019	6,036	+4.4%	Cons.
FYE Mar 2020	6,260	+3.7%	Cons.
FYE Mar 2021	6,337	+1.2%	Cons.
FYE Mar 2022	6,402	+1.0%	Cons.
FYE Mar 2023	6,445	+0.7%	Cons.
FYE Mar 2024	6,431	−0.2%	Cons.
FYE Mar 2025	6,373	−0.9%	Cons.
FYE Mar 2026	6,424	+0.8%	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 1,930people

Change · 10 yrs +356 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,574	n/a	Parent
FYE Mar 2018	1,626	+3.3%	Parent
FYE Mar 2019	1,684	+3.6%	Parent
FYE Mar 2020	1,729	+2.7%	Parent
FYE Mar 2021	1,766	+2.1%	Parent
FYE Mar 2022	1,740	−1.5%	Parent
FYE Mar 2023	1,730	−0.6%	Parent
FYE Mar 2024	1,829	+5.7%	Parent
FYE Mar 2025	1,886	+3.1%	Parent
FYE Mar 2026	1,930	+2.3%	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 Mar 2026 760万円

Change · 8 yrs +71万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	689	n/a	Parent
FYE Mar 2020	677	−1.7%	Parent
FYE Mar 2021	675	−0.4%	Parent
FYE Mar 2022	708	+4.9%	Parent
FYE Mar 2023	711	+0.5%	Parent
FYE Mar 2024	720	+1.3%	Parent
FYE Mar 2025	729	+1.2%	Parent
FYE Mar 2026	760	+4.2%	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 40.9years

Change · 8 yrs −0.3 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	41.2	n/a	Parent
FYE Mar 2020	41.1	−0.2%	Parent
FYE Mar 2021	40.4	−1.7%	Parent
FYE Mar 2022	40.6	+0.5%	Parent
FYE Mar 2023	40.8	+0.5%	Parent
FYE Mar 2024	41.0	+0.5%	Parent
FYE Mar 2025	40.9	−0.2%	Parent
FYE Mar 2026	40.9	−0.0%	Parent

Definition: Average age of the parent company's employees
Formula: Average age, from the employee section of the filing
Source: Securities report (XBRL)

Average length of service

FYE Mar 2026 13.9years

Change · 8 yrs −1.1 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	15.0	n/a	Parent
FYE Mar 2020	14.1	−6.0%	Parent
FYE Mar 2021	14.6	+3.5%	Parent
FYE Mar 2022	14.9	+2.1%	Parent
FYE Mar 2023	15.1	+1.3%	Parent
FYE Mar 2024	14.2	−6.0%	Parent
FYE Mar 2025	14.0	−1.4%	Parent
FYE Mar 2026	13.9	−0.7%	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 2,401people

Change · 10 yrs +59 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	2,342	n/a	n/a
FYE Mar 2018	2,492	+6.4%	n/a
FYE Mar 2019	2,500	+0.3%	n/a
FYE Mar 2020	2,476	−1.0%	n/a
FYE Mar 2021	2,271	−8.3%	n/a
FYE Mar 2022	2,454	+8.1%	n/a
FYE Mar 2023	2,550	+3.9%	n/a
FYE Mar 2024	2,619	+2.7%	n/a
FYE Mar 2025	2,541	−3.0%	n/a
FYE Mar 2026	2,401	−5.5%	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 ¥39.2m

Change · 10 yrs +¥6.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	32.7	n/a	Cons.
FYE Mar 2018	34.1	+4.6%	Cons.
FYE Mar 2019	35.7	+4.6%	Cons.
FYE Mar 2020	33.4	−6.5%	Cons.
FYE Mar 2021	31.0	−7.1%	Cons.
FYE Mar 2022	33.8	+9.0%	Cons.
FYE Mar 2023	36.9	+9.4%	Cons.
FYE Mar 2024	38.8	+5.0%	Cons.
FYE Mar 2025	40.2	+3.8%	Cons.
FYE Mar 2026	39.2	−2.6%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.8m

Change · 10 yrs +¥2.2m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons.
FYE Mar 2018	3.7	+4.0%	Cons.
FYE Mar 2019	3.7	+1.5%	Cons.
FYE Mar 2020	3.3	−13.0%	Cons.
FYE Mar 2021	3.1	−5.1%	Cons.
FYE Mar 2022	4.1	+32.5%	Cons.
FYE Mar 2023	4.6	+13.3%	Cons.
FYE Mar 2024	5.5	+17.8%	Cons.
FYE Mar 2025	6.2	+13.9%	Cons.
FYE Mar 2026	5.8	−7.6%	Cons.

Definition: What each employee accounts for in operating profit
Formula: Operating profit ÷ group employees
Source: Securities report (XBRL)

Disclaimer

Figures are reproduced as filed and are not restated: a change of accounting standard or of consolidation basis moves the series without anything happening to the business. Where that happened, the table says so in place of the year-on-year figure.
Ratios and per-employee figures are computed from the filed lines rather than taken from the filing, and use year-end balances rather than averages.

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