Financials

Kobe Steel: FYE Mar 2026 and ten years of results (51 metrics)

FYE Mar 2026 · Revenue¥2.44tnYoY −4.6%

FYE Mar 2026 · Operating profit¥130bnYoY −18.2%

FYE Mar 2026 · Net profit¥94bnYoY −22.0%

FYE Mar 2026 · Equity ratio44.0%YoY +3.8pp

FYE Mar 2026 · Group employees38,614YoY −680

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.70tn	n/a	¥9.7bn	n/a	0.6%	-¥23bn	Kawasaki Hiroya	—
FYE Mar 2018Consolidated	¥1.88tn	+10.9%	¥89bn	+812.0%	4.7%	¥63bn	Kawasaki Hiroya	The upstream at Kobe is shut and production concentrated at Kakogawa
FYE Mar 2019Consolidated	¥1.97tn	+4.8%	¥48bn	−45.7%	2.4%	¥36bn	Kawasaki Hiroya	Net profit recovers to ¥63.2bn; <a class="en-history_person" href="/tse/5406/executives/ceo/yamaguchi-mitsugi/" hreflang="ja">Yamaguchi Mitsugi</a> becomes president
FYE Mar 2020Consolidated	¥1.87tn	−5.2%	¥9.9bn	−79.6%	0.5%	-¥68bn	Yamaguchi Mitsugi	Midrex signs a hydrogen direct-reduction agreement with ArcelorMittal
FYE Mar 2021Consolidated	¥1.71tn	−8.8%	¥30bn	+208.2%	1.8%	¥23bn	Yamaguchi Mitsugi	Net loss of ¥68.0bn, with ¥65.1bn of extraordinary losses
FYE Mar 2022Consolidated	¥2.08tn	+22.1%	¥88bn	+188.2%	4.2%	¥60bn	Yamaguchi Mitsugi	—
FYE Mar 2023Consolidated	¥2.47tn	+18.7%	¥86bn	−1.4%	3.5%	¥73bn	Yamaguchi Mitsugi	Midrex wins the world’s first 100% hydrogen direct-reduction plant
FYE Mar 2024Consolidated	¥2.54tn	+2.9%	¥187bn	+116.1%	7.3%	¥110bn	Yamaguchi Mitsugi	—
FYE Mar 2025Consolidated	¥2.56tn	+0.5%	¥159bn	−15.0%	6.2%	¥120bn	Yamaguchi Mitsugi	<a class="en-history_person" href="/tse/5406/executives/ceo/katsukawa-yoshihiko/" hreflang="ja">Katsukawa Yoshihiko</a> becomes president
FYE Mar 2026Consolidated	¥2.44tn	−4.6%	¥130bn	−18.2%	5.3%	¥94bn	Katsukawa Yoshihiko	Record net profit of ¥120.1bn

How it compares

Nippon Steel¥10.1tnFY2025Operating margin 2.4%JFE Holdings¥4.54tnFY2025Operating margin 2.5%

Kobe Steel¥2.44tnFY2025Operating margin 5.3%

NKK CorporationDelisted 2002

Sumitomo Metal Industries, Ltd.Delisted 2012

Kawasaki Steel CorporationDelisted 2002

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 ¥2.44tn

CAGR · 10 yrs +4.1%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,696	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,881	+10.9%	Cons. · Japanese GAAP
FYE Mar 2019	1,972	+4.8%	Cons. · Japanese GAAP
FYE Mar 2020	1,870	−5.2%	Cons. · Japanese GAAP
FYE Mar 2021	1,706	−8.8%	Cons. · Japanese GAAP
FYE Mar 2022	2,083	+22.1%	Cons. · Japanese GAAP
FYE Mar 2023	2,473	+18.7%	Cons. · Japanese GAAP
FYE Mar 2024	2,543	+2.9%	Cons. · Japanese GAAP
FYE Mar 2025	2,555	+0.5%	Cons. · Japanese GAAP
FYE Mar 2026	2,437	−4.6%	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 ¥2.03tn

CAGR · 10 yrs +3.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,466	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,595	+8.8%	Cons. · Japanese GAAP
FYE Mar 2019	1,705	+6.9%	Cons. · Japanese GAAP
FYE Mar 2020	1,639	−3.9%	Cons. · Japanese GAAP
FYE Mar 2021	1,482	−9.5%	Cons. · Japanese GAAP
FYE Mar 2022	1,775	+19.7%	Cons. · Japanese GAAP
FYE Mar 2023	2,151	+21.2%	Cons. · Japanese GAAP
FYE Mar 2024	2,107	−2.0%	Cons. · Japanese GAAP
FYE Mar 2025	2,132	+1.2%	Cons. · Japanese GAAP
FYE Mar 2026	2,033	−4.6%	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 ¥403bn

CAGR · 10 yrs +6.4%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	230	n/a	Cons. · Japanese GAAP
FYE Mar 2018	286	+24.2%	Cons. · Japanese GAAP
FYE Mar 2019	267	−6.7%	Cons. · Japanese GAAP
FYE Mar 2020	231	−13.4%	Cons. · Japanese GAAP
FYE Mar 2021	223	−3.4%	Cons. · Japanese GAAP
FYE Mar 2022	308	+37.9%	Cons. · Japanese GAAP
FYE Mar 2023	321	+4.4%	Cons. · Japanese GAAP
FYE Mar 2024	436	+35.7%	Cons. · Japanese GAAP
FYE Mar 2025	423	−2.9%	Cons. · Japanese GAAP
FYE Mar 2026	403	−4.7%	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 ¥273bn

CAGR · 10 yrs +2.4%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	221	n/a	Cons. · Japanese GAAP
FYE Mar 2018	197	−10.7%	Cons. · Japanese GAAP
FYE Mar 2019	219	+11.0%	Cons. · Japanese GAAP
FYE Mar 2020	221	+1.2%	Cons. · Japanese GAAP
FYE Mar 2021	193	−12.9%	Cons. · Japanese GAAP
FYE Mar 2022	220	+14.2%	Cons. · Japanese GAAP
FYE Mar 2023	235	+6.7%	Cons. · Japanese GAAP
FYE Mar 2024	249	+6.1%	Cons. · Japanese GAAP
FYE Mar 2025	264	+6.1%	Cons. · Japanese GAAP
FYE Mar 2026	273	+3.3%	Cons. · Japanese GAAP

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

Operating profit

FYE Mar 2026 ¥130bn

CAGR · 10 yrs +33.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	9.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	88.9	+812.0%	Cons. · Japanese GAAP
FYE Mar 2019	48.3	−45.7%	Cons. · Japanese GAAP
FYE Mar 2020	9.9	−79.6%	Cons. · Japanese GAAP
FYE Mar 2021	30.4	+208.2%	Cons. · Japanese GAAP
FYE Mar 2022	87.6	+188.2%	Cons. · Japanese GAAP
FYE Mar 2023	86.4	−1.4%	Cons. · Japanese GAAP
FYE Mar 2024	187	+116.1%	Cons. · Japanese GAAP
FYE Mar 2025	159	−15.0%	Cons. · Japanese GAAP
FYE Mar 2026	130	−18.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥42bn

CAGR · 10 yrs +8.1%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	21.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.2	+20.3%	Cons. · Japanese GAAP
FYE Mar 2019	33.7	+33.6%	Cons. · Japanese GAAP
FYE Mar 2020	29.0	−14.0%	Cons. · Japanese GAAP
FYE Mar 2021	25.0	−13.7%	Cons. · Japanese GAAP
FYE Mar 2022	44.5	+77.8%	Cons. · Japanese GAAP
FYE Mar 2023	58.8	+32.4%	Cons. · Japanese GAAP
FYE Mar 2024	30.5	−48.1%	Cons. · Japanese GAAP
FYE Mar 2025	50.2	+64.5%	Cons. · Japanese GAAP
FYE Mar 2026	42.2	−16.0%	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 ¥51bn

CAGR · 10 yrs +0.2%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	49.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	43.0	−13.7%	Cons. · Japanese GAAP
FYE Mar 2019	47.4	+10.2%	Cons. · Japanese GAAP
FYE Mar 2020	46.9	−0.9%	Cons. · Japanese GAAP
FYE Mar 2021	39.2	−16.4%	Cons. · Japanese GAAP
FYE Mar 2022	38.8	−0.9%	Cons. · Japanese GAAP
FYE Mar 2023	38.4	−1.2%	Cons. · Japanese GAAP
FYE Mar 2024	56.2	+46.6%	Cons. · Japanese GAAP
FYE Mar 2025	51.8	−8.0%	Cons. · Japanese GAAP
FYE Mar 2026	50.7	−2.0%	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 ¥121bn

Average · 10 yrs ¥73bn

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	-19.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	71.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	34.6	−51.3%	Cons. · Japanese GAAP
FYE Mar 2020	-8.1	−123.3%	Cons. · Japanese GAAP
FYE Mar 2021	16.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	93.2	+475.9%	Cons. · Japanese GAAP
FYE Mar 2023	107	+14.6%	Cons. · Japanese GAAP
FYE Mar 2024	161	+50.6%	Cons. · Japanese GAAP
FYE Mar 2025	157	−2.3%	Cons. · Japanese GAAP
FYE Mar 2026	121	−22.8%	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 ¥29bn

CAGR · 8 yrs +19.9%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	8.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.1	+12.3%	Cons. · Japanese GAAP
FYE Mar 2019	36.4	+298.0%	Cons. · Japanese GAAP
FYE Mar 2020	7.6	−79.1%	Cons. · Japanese GAAP
FYE Mar 2021	16.1	+111.8%	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	29.4	n/a	Cons. · Japanese GAAP
FYE Mar 2025	22.5	−23.5%	Cons. · Japanese GAAP
FYE Mar 2026	28.9	+28.7%	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 ¥94bn

Average · 10 yrs ¥49bn

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	-23.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	63.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	35.9	−43.1%	Cons. · Japanese GAAP
FYE Mar 2020	-68.0	−289.2%	Cons. · Japanese GAAP
FYE Mar 2021	23.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	60.1	+158.6%	Cons. · Japanese GAAP
FYE Mar 2023	72.6	+20.8%	Cons. · Japanese GAAP
FYE Mar 2024	110	+51.0%	Cons. · Japanese GAAP
FYE Mar 2025	120	+9.7%	Cons. · Japanese GAAP
FYE Mar 2026	93.7	−22.0%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 16.5%

Average · 10 yrs 14.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	13.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.2	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	13.5	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2020	12.4	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	13.1	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	14.8	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2023	13.0	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2024	17.1	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2025	16.6	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	16.5	−0.0pp	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 5.3%

Average · 10 yrs 3.7%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.7	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2019	2.4	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2020	0.5	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	1.8	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	4.2	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	3.5	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	7.3	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2025	6.2	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	5.3	−0.9pp	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 5.0%

Average · 10 yrs 3.1%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	-1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.8	+4.9pp	Cons. · Japanese GAAP
FYE Mar 2019	1.8	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2020	-0.4	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2021	0.9	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2022	4.5	+3.5pp	Cons. · Japanese GAAP
FYE Mar 2023	4.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	6.3	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2025	6.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	5.0	−1.2pp	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 3.8%

Average · 10 yrs 2.0%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	-1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.4	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2019	1.8	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	-3.6	−5.5pp	Cons. · Japanese GAAP
FYE Mar 2021	1.4	+5.0pp	Cons. · Japanese GAAP
FYE Mar 2022	2.9	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	2.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	4.3	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	4.7	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	3.8	−0.9pp	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 83.5%

Average · 10 yrs 85.4%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	86.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	84.8	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	86.5	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2020	87.6	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	86.9	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	85.2	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2023	87.0	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2024	82.9	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2025	83.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	83.5	−0.0pp	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 11.2%

Average · 10 yrs 10.9%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	13.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.5	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2019	11.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	11.8	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	11.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	10.6	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	9.5	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	9.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	10.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	11.2	+0.9pp	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 ¥2.87tn

CAGR · 10 yrs +2.4%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	2,310	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,352	+1.8%	Cons. · Japanese GAAP
FYE Mar 2019	2,385	+1.4%	Cons. · Japanese GAAP
FYE Mar 2020	2,411	+1.1%	Cons. · Japanese GAAP
FYE Mar 2021	2,583	+7.1%	Cons. · Japanese GAAP
FYE Mar 2022	2,729	+5.6%	Cons. · Japanese GAAP
FYE Mar 2023	2,875	+5.4%	Cons. · Japanese GAAP
FYE Mar 2024	2,920	+1.6%	Cons. · Japanese GAAP
FYE Mar 2025	2,891	−1.0%	Cons. · Japanese GAAP
FYE Mar 2026	2,865	−0.9%	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 ¥1.26tn

CAGR · 10 yrs +7.2%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	674	n/a	Cons. · Japanese GAAP
FYE Mar 2018	743	+10.2%	Cons. · Japanese GAAP
FYE Mar 2019	740	−0.4%	Cons. · Japanese GAAP
FYE Mar 2020	657	−11.2%	Cons. · Japanese GAAP
FYE Mar 2021	710	+8.1%	Cons. · Japanese GAAP
FYE Mar 2022	815	+14.8%	Cons. · Japanese GAAP
FYE Mar 2023	914	+12.1%	Cons. · Japanese GAAP
FYE Mar 2024	1,057	+15.6%	Cons. · Japanese GAAP
FYE Mar 2025	1,162	+10.0%	Cons. · Japanese GAAP
FYE Mar 2026	1,261	+8.6%	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 ¥572bn

CAGR · 10 yrs −0.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	621	n/a	Cons. · Japanese GAAP
FYE Mar 2018	593	−4.5%	Cons. · Japanese GAAP
FYE Mar 2019	626	+5.6%	Cons. · Japanese GAAP
FYE Mar 2020	795	+26.9%	Cons. · Japanese GAAP
FYE Mar 2021	906	+14.0%	Cons. · Japanese GAAP
FYE Mar 2022	837	−7.6%	Cons. · Japanese GAAP
FYE Mar 2023	816	−2.6%	Cons. · Japanese GAAP
FYE Mar 2024	708	−13.2%	Cons. · Japanese GAAP
FYE Mar 2025	670	−5.5%	Cons. · Japanese GAAP
FYE Mar 2026	572	−14.6%	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 ¥144bn

CAGR · 10 yrs −3.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	192	n/a	Cons. · Japanese GAAP
FYE Mar 2018	206	+7.2%	Cons. · Japanese GAAP
FYE Mar 2019	116	−43.4%	Cons. · Japanese GAAP
FYE Mar 2020	162	+39.3%	Cons. · Japanese GAAP
FYE Mar 2021	162	−0.2%	Cons. · Japanese GAAP
FYE Mar 2022	87.3	−46.1%	Cons. · Japanese GAAP
FYE Mar 2023	169	+93.9%	Cons. · Japanese GAAP
FYE Mar 2024	166	−1.9%	Cons. · Japanese GAAP
FYE Mar 2025	190	+14.7%	Cons. · Japanese GAAP
FYE Mar 2026	144	−24.5%	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 ¥428bn

CAGR · 10 yrs −0.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	429	n/a	Cons. · Japanese GAAP
FYE Mar 2018	387	−9.7%	Cons. · Japanese GAAP
FYE Mar 2019	510	+31.7%	Cons. · Japanese GAAP
FYE Mar 2020	633	+24.1%	Cons. · Japanese GAAP
FYE Mar 2021	744	+17.6%	Cons. · Japanese GAAP
FYE Mar 2022	750	+0.8%	Cons. · Japanese GAAP
FYE Mar 2023	647	−13.8%	Cons. · Japanese GAAP
FYE Mar 2024	542	−16.1%	Cons. · Japanese GAAP
FYE Mar 2025	479	−11.7%	Cons. · Japanese GAAP
FYE Mar 2026	428	−10.6%	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 −0.8%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	176	n/a	Cons. · Japanese GAAP
FYE Mar 2018	146	−17.0%	Cons. · Japanese GAAP
FYE Mar 2019	134	−8.2%	Cons. · Japanese GAAP
FYE Mar 2020	112	−16.6%	Cons. · Japanese GAAP
FYE Mar 2021	81.6	−27.0%	Cons. · Japanese GAAP
FYE Mar 2022	71.1	−13.0%	Cons. · Japanese GAAP
FYE Mar 2023	45.9	−35.4%	Cons. · Japanese GAAP
FYE Mar 2024	115	+150.5%	Cons. · Japanese GAAP
FYE Mar 2025	165	+43.5%	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 ¥58bn

CAGR · 10 yrs +10.2%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	24.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	40.8	+69.0%	Cons. · Japanese GAAP
FYE Mar 2019	32.6	−20.0%	Cons. · Japanese GAAP
FYE Mar 2020	32.7	+0.1%	Cons. · Japanese GAAP
FYE Mar 2021	36.6	+11.9%	Cons. · Japanese GAAP
FYE Mar 2022	36.3	−0.7%	Cons. · Japanese GAAP
FYE Mar 2023	37.6	+3.5%	Cons. · Japanese GAAP
FYE Mar 2024	39.3	+4.5%	Cons. · Japanese GAAP
FYE Mar 2025	50.2	+27.7%	Cons. · Japanese GAAP
FYE Mar 2026	57.7	+15.0%	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 ¥1.8bn

CAGR · 9 yrs −4.6%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2019	0.6	−76.3%	Cons. · Japanese GAAP
FYE Mar 2020	1.0	+52.9%	Cons. · Japanese GAAP
FYE Mar 2021	3.5	+257.9%	Cons. · Japanese GAAP
FYE Mar 2022	3.4	−2.9%	Cons. · Japanese GAAP
FYE Mar 2023	3.0	−10.8%	Cons. · Japanese GAAP
FYE Mar 2024	2.6	−13.1%	Cons. · Japanese GAAP
FYE Mar 2025	2.2	−14.2%	Cons. · Japanese GAAP
FYE Mar 2026	1.8	−18.3%	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 44.0%

Average · 10 yrs 32.9%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	29.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	31.6	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2019	31.0	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	27.2	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2021	27.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	29.9	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	31.8	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	36.2	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2025	40.2	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2026	44.0	+3.8pp	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 86.7%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	92.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	79.8	−12.3pp	Cons. · Japanese GAAP
FYE Mar 2019	84.7	+4.8pp	Cons. · Japanese GAAP
FYE Mar 2020	121.0	+36.3pp	Cons. · Japanese GAAP
FYE Mar 2021	127.6	+6.6pp	Cons. · Japanese GAAP
FYE Mar 2022	102.7	−24.9pp	Cons. · Japanese GAAP
FYE Mar 2023	89.3	−13.4pp	Cons. · Japanese GAAP
FYE Mar 2024	67.1	−22.2pp	Cons. · Japanese GAAP
FYE Mar 2025	57.6	−9.4pp	Cons. · Japanese GAAP
FYE Mar 2026	45.4	−12.3pp	Cons. · Japanese GAAP

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

ROE return on equity

FYE Mar 2026 7.4%

Average · 10 yrs 4.6%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	-3.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.5	+11.9pp	Cons. · Japanese GAAP
FYE Mar 2019	4.9	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2020	-10.4	−15.2pp	Cons. · Japanese GAAP
FYE Mar 2021	3.3	+13.6pp	Cons. · Japanese GAAP
FYE Mar 2022	7.4	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2023	7.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	10.4	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2025	10.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	7.4	−2.9pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 3.3%

Average · 10 yrs 1.7%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	-1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.7	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2019	1.5	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	-2.8	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2021	0.9	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2022	2.2	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2023	2.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	3.8	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2025	4.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	3.3	−0.9pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.85×

CAGR · 10 yrs +1.6%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.73	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.80	+9.0%	Cons. · Japanese GAAP
FYE Mar 2019	0.83	+3.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.78	−6.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.66	−14.8%	Cons. · Japanese GAAP
FYE Mar 2022	0.76	+15.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.86	+12.7%	Cons. · Japanese GAAP
FYE Mar 2024	0.87	+1.3%	Cons. · Japanese GAAP
FYE Mar 2025	0.88	+1.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.85	−3.8%	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 ¥202bn

CAGR · 10 yrs +4.0%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	142	n/a	Cons. · Japanese GAAP
FYE Mar 2018	191	+34.7%	Cons. · Japanese GAAP
FYE Mar 2019	67.1	−64.8%	Cons. · Japanese GAAP
FYE Mar 2020	27.0	−59.7%	Cons. · Japanese GAAP
FYE Mar 2021	195	+620.4%	Cons. · Japanese GAAP
FYE Mar 2022	169	−13.3%	Cons. · Japanese GAAP
FYE Mar 2023	120	−29.1%	Cons. · Japanese GAAP
FYE Mar 2024	205	+71.5%	Cons. · Japanese GAAP
FYE Mar 2025	148	−27.8%	Cons. · Japanese GAAP
FYE Mar 2026	202	+36.0%	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 -¥74bn

Average · 10 yrs -¥119bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-138	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-162	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-28.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-219	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-142	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-162	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-97.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-53.7	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-114	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-73.7	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 -¥162bn

Average · 10 yrs -¥30bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	16.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-66.6	−502.5%	Cons. · Japanese GAAP
FYE Mar 2019	-9.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	141	n/a	Cons. · Japanese GAAP
FYE Mar 2021	118	−15.8%	Cons. · Japanese GAAP
FYE Mar 2022	-69.1	−158.4%	Cons. · Japanese GAAP
FYE Mar 2023	-85.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-81.2	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-96.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-162	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 ¥189bn

CAGR · 10 yrs −0.6%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	200	n/a	Cons. · Japanese GAAP
FYE Mar 2018	165	−17.5%	Cons. · Japanese GAAP
FYE Mar 2019	197	+19.3%	Cons. · Japanese GAAP
FYE Mar 2020	146	−26.1%	Cons. · Japanese GAAP
FYE Mar 2021	317	+117.8%	Cons. · Japanese GAAP
FYE Mar 2022	261	−17.9%	Cons. · Japanese GAAP
FYE Mar 2023	203	−21.9%	Cons. · Japanese GAAP
FYE Mar 2024	279	+37.0%	Cons. · Japanese GAAP
FYE Mar 2025	220	−21.1%	Cons. · Japanese GAAP
FYE Mar 2026	189	−14.0%	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 ¥128bn

CAGR · 10 yrs +47.5%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.2	+652.9%	Cons. · Japanese GAAP
FYE Mar 2019	38.5	+31.8%	Cons. · Japanese GAAP
FYE Mar 2020	-192	−598.1%	Cons. · Japanese GAAP
FYE Mar 2021	52.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	7.3	−86.2%	Cons. · Japanese GAAP
FYE Mar 2023	22.4	+207.2%	Cons. · Japanese GAAP
FYE Mar 2024	152	+575.9%	Cons. · Japanese GAAP
FYE Mar 2025	34.4	−77.3%	Cons. · Japanese GAAP
FYE Mar 2026	128	+272.3%	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 8.3%

Average · 10 yrs 7.0%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.1	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2019	3.4	−6.7pp	Cons. · Japanese GAAP
FYE Mar 2020	1.4	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2021	11.4	+10.0pp	Cons. · Japanese GAAP
FYE Mar 2022	8.1	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2023	4.8	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2024	8.1	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	5.8	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	8.3	+2.5pp	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 -¥383bn

Average · 10 yrs -¥497bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-421	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-428	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-429	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-649	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-589	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-577	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-613	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-430	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-450	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-383	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 ¥749bn

Change · 8 yrs +¥361bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	n/a	n/a
FYE Mar 2018	388	n/a
FYE Mar 2019	303	n/a
FYE Mar 2020	n/a	n/a
FYE Mar 2021	273	n/a
FYE Mar 2022	234	n/a
FYE Mar 2023	417	n/a
FYE Mar 2024	815	n/a
FYE Mar 2025	686	n/a
FYE Mar 2026	749	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 1,891¥

Change · 8 yrs +825¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	n/a	n/a
FYE Mar 2018	1,066	n/a
FYE Mar 2019	831	n/a
FYE Mar 2020	n/a	n/a
FYE Mar 2021	748	n/a
FYE Mar 2022	591	n/a
FYE Mar 2023	1,053	n/a
FYE Mar 2024	2,055	n/a
FYE Mar 2025	1,730	n/a
FYE Mar 2026	1,891	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 396,346,000shares

Change · 10 yrs +31,982,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	364,364,000	Parent
FYE Mar 2018	364,364,000	Parent
FYE Mar 2019	364,364,000	Parent
FYE Mar 2020	364,364,000	Parent
FYE Mar 2021	364,364,000	Parent
FYE Mar 2022	396,346,000	Parent
FYE Mar 2023	396,346,000	Parent
FYE Mar 2024	396,346,000	Parent
FYE Mar 2025	396,346,000	Parent
FYE Mar 2026	396,346,000	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 237.80¥

Change · 10 yrs +301.34¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	-63.54	Cons.
FYE Mar 2018	174.43	Cons.
FYE Mar 2019	99.20	Cons.
FYE Mar 2020	-187.55	Cons.
FYE Mar 2021	64.05	Cons.
FYE Mar 2022	160.23	Cons.
FYE Mar 2023	183.80	Cons.
FYE Mar 2024	277.38	Cons.
FYE Mar 2025	304.64	Cons.
FYE Mar 2026	237.80	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 3,182.38¥

Change · 10 yrs +1,332.78¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,849.60	Cons. · Japanese GAAP
FYE Mar 2018	2,038.04	Cons. · Japanese GAAP
FYE Mar 2019	2,029.77	Cons. · Japanese GAAP
FYE Mar 2020	1,802.82	Cons. · Japanese GAAP
FYE Mar 2021	1,949.59	Cons. · Japanese GAAP
FYE Mar 2022	2,057.11	Cons. · Japanese GAAP
FYE Mar 2023	2,305.96	Cons. · Japanese GAAP
FYE Mar 2024	2,665.76	Cons. · Japanese GAAP
FYE Mar 2025	2,931.27	Cons. · Japanese GAAP
FYE Mar 2026	3,182.38	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 7.95×

Average · 8 yrs 7.08×

Fiscal year	PER ×	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	6.11	Cons.
FYE Mar 2019	8.38	Cons.
FYE Mar 2020	n/a	Cons.
FYE Mar 2021	11.68	Cons.
FYE Mar 2022	3.69	Cons.
FYE Mar 2023	5.73	Cons.
FYE Mar 2024	7.41	Cons.
FYE Mar 2025	5.68	Cons.
FYE Mar 2026	7.95	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 0.59×

Average · 8 yrs 0.50×

Fiscal year	PBR ×	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	0.52	Cons.
FYE Mar 2019	0.41	Cons.
FYE Mar 2020	n/a	Cons.
FYE Mar 2021	0.38	Cons.
FYE Mar 2022	0.29	Cons.
FYE Mar 2023	0.46	Cons.
FYE Mar 2024	0.77	Cons.
FYE Mar 2025	0.59	Cons.
FYE Mar 2026	0.59	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 38,614people

Change · 10 yrs +1,663 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	36,951	n/a	Cons.
FYE Mar 2018	37,436	+1.3%	Cons.
FYE Mar 2019	39,341	+5.1%	Cons.
FYE Mar 2020	40,831	+3.8%	Cons.
FYE Mar 2021	40,517	−0.8%	Cons.
FYE Mar 2022	38,106	−6.0%	Cons.
FYE Mar 2023	38,488	+1.0%	Cons.
FYE Mar 2024	38,050	−1.1%	Cons.
FYE Mar 2025	39,294	+3.3%	Cons.
FYE Mar 2026	38,614	−1.7%	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 12,253people

Change · 10 yrs +1,219 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	11,034	n/a	Parent
FYE Mar 2018	11,191	+1.4%	Parent
FYE Mar 2019	11,401	+1.9%	Parent
FYE Mar 2020	11,560	+1.4%	Parent
FYE Mar 2021	11,837	+2.4%	Parent
FYE Mar 2022	11,296	−4.6%	Parent
FYE Mar 2023	11,368	+0.6%	Parent
FYE Mar 2024	11,534	+1.5%	Parent
FYE Mar 2025	11,895	+3.1%	Parent
FYE Mar 2026	12,253	+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 ¥8.3m

Change · 10 yrs +¥2.8m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	5.5	n/a	Parent
FYE Mar 2018	5.4	−2.4%	Parent
FYE Mar 2019	5.7	+5.5%	Parent
FYE Mar 2020	5.7	−0.1%	Parent
FYE Mar 2021	5.2	−8.6%	Parent
FYE Mar 2022	5.5	+5.1%	Parent
FYE Mar 2023	6.1	+10.8%	Parent
FYE Mar 2024	7.3	+19.9%	Parent
FYE Mar 2025	8.1	+11.8%	Parent
FYE Mar 2026	8.3	+2.5%	Parent

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

Average age

FYE Mar 2026 40.1years

Change · 8 yrs +1.1 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	39.0	n/a	Parent
FYE Mar 2020	38.9	−0.3%	Parent
FYE Mar 2021	38.9	−0.0%	Parent
FYE Mar 2022	38.9	−0.0%	Parent
FYE Mar 2023	39.5	+1.5%	Parent
FYE Mar 2024	39.7	+0.5%	Parent
FYE Mar 2025	39.9	+0.5%	Parent
FYE Mar 2026	40.1	+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 15.5years

Change · 10 yrs −1.2 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	16.7	n/a	Parent
FYE Mar 2018	16.3	−2.4%	Parent
FYE Mar 2019	15.9	−2.5%	Parent
FYE Mar 2020	15.6	−1.9%	Parent
FYE Mar 2021	15.2	−2.6%	Parent
FYE Mar 2022	15.2	−0.0%	Parent
FYE Mar 2023	15.3	+0.7%	Parent
FYE Mar 2024	15.4	+0.7%	Parent
FYE Mar 2025	15.4	−0.0%	Parent
FYE Mar 2026	15.5	+0.6%	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 6,533people

Change · 10 yrs −29 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	6,562	n/a	n/a
FYE Mar 2018	6,647	+1.3%	n/a
FYE Mar 2019	6,063	−8.8%	n/a
FYE Mar 2020	6,976	+15.1%	n/a
FYE Mar 2021	5,911	−15.3%	n/a
FYE Mar 2022	5,782	−2.2%	n/a
FYE Mar 2023	6,450	+11.6%	n/a
FYE Mar 2024	6,458	+0.1%	n/a
FYE Mar 2025	6,544	+1.3%	n/a
FYE Mar 2026	6,533	−0.2%	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 ¥63.1m

Change · 10 yrs +¥17.2m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	45.9	n/a	Cons.
FYE Mar 2018	50.2	+9.5%	Cons.
FYE Mar 2019	50.1	−0.3%	Cons.
FYE Mar 2020	45.8	−8.6%	Cons.
FYE Mar 2021	42.1	−8.1%	Cons.
FYE Mar 2022	54.7	+29.8%	Cons.
FYE Mar 2023	64.2	+17.5%	Cons.
FYE Mar 2024	66.8	+4.0%	Cons.
FYE Mar 2025	65.0	−2.7%	Cons.
FYE Mar 2026	63.1	−3.0%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥3.4m

Change · 10 yrs +¥3.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	0.3	n/a	Cons.
FYE Mar 2018	2.4	+800.2%	Cons.
FYE Mar 2019	1.2	−48.3%	Cons.
FYE Mar 2020	0.2	−80.3%	Cons.
FYE Mar 2021	0.8	+210.6%	Cons.
FYE Mar 2022	2.3	+206.5%	Cons.
FYE Mar 2023	2.2	−2.4%	Cons.
FYE Mar 2024	4.9	+118.6%	Cons.
FYE Mar 2025	4.0	−17.6%	Cons.
FYE Mar 2026	3.4	−16.7%	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

Kobe Steel’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/5406/company.json ·/api/5406/history.json ·/api/5406/ceo.json ·/api/5406/financials.json ·/api/5406/financials/segment.json ·/api/5406/financials/pl.json ·/api/5406/financials/cf.json ·/api/5406/financials/bs.json ·/api/5406/financials/employee.json ·/api/5406/financials/stock.json ·/api/5406/financials.csv ·/api/5406/financials_history.csv

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