Financials

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

FYE Mar 2026 · Revenue¥215bnYoY +13.6%

FYE Mar 2026 · Operating profit¥34bnYoY +34.8%

FYE Mar 2026 · Net profit¥27bnYoY +20.5%

FYE Mar 2026 · Equity ratio14.7%YoY −0.3pp

FYE Mar 2026 · Group employees2,610YoY −128

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥91bn	n/a	¥7.0bn	n/a	7.7%	¥7.3bn	Fukuda Yoshitaka	—
FYE Mar 2018Consolidated	¥115bn	+26.2%	¥2.5bn	−64.4%	2.2%	¥4.0bn	Fukuda Yoshitaka	—
FYE Mar 2019Consolidated	¥115bn	−0.1%	¥3.0bn	+21.6%	2.6%	¥9.3bn	Fukuda Yoshitaka	—
FYE Mar 2020Consolidated	¥127bn	+10.2%	¥1.7bn	−44.6%	1.3%	¥1.4bn	Fukuda Yoshitaka	—
FYE Mar 2021Consolidated	¥127bn	+0.3%	¥18bn	+944.1%	13.8%	¥18bn	Fukuda Yoshitaka	<a class="en-history_person" href="/tse/547A/executives/ceo/fukuda-mitsuhide/" hreflang="ja">Fukuda Mitsuhide</a> succeeds his father — the first handover in 53 years
FYE Mar 2022Consolidated	¥132bn	+3.6%	¥11bn	−35.9%	8.5%	¥12bn	Fukuda Mitsuhide	—
FYE Mar 2023Consolidated	¥144bn	+9.1%	¥24bn	+111.0%	16.5%	¥22bn	Fukuda Mitsuhide	Card business consolidated into a single Life Card entity
FYE Mar 2024Consolidated	¥163bn	+13.2%	¥21bn	−11.2%	12.9%	¥22bn	Fukuda Mitsuhide	Pet insurer FPC acquired (BitCash follows in 2024)
FYE Mar 2025Consolidated	¥189bn	+15.9%	¥25bn	+20.1%	13.4%	¥23bn	Fukuda Mitsuhide	—
FYE Mar 2026Consolidated	¥215bn	+13.6%	¥34bn	+34.8%	15.9%	¥27bn	Fukuda Mitsuhide	Board resolves on a sole share transfer to a pure holding company

How it compares

AEON Financial Service¥569bnFY2025Operating margin 10.7%

Credit Saison¥546bnFY2025Operating margin 16.5%Acom¥338bnFY2025Operating margin 29.7%

Mitsubishi UFJ NICOS Co., Ltd.Delisted 2008

Orientokoporeshon¥245bnFY2024Operating margin 5.0%

Muninova Holdings¥215bnFY2025Operating margin 15.9%

Jaccs¥192bnFY2025Operating margin 10.6%

TAKEFUJI CORPORATIONDelisted 2010

Jeitorasuto¥76bnFY2017Operating margin 6.2%

Puremiagurupu¥36bnFY2024Operating margin 18.7%

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 ¥215bn

CAGR · 10 yrs +9.9%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	91.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	115	+26.2%	Cons. · Japanese GAAP
FYE Mar 2019	115	−0.1%	Cons. · Japanese GAAP
FYE Mar 2020	127	+10.2%	Cons. · Japanese GAAP
FYE Mar 2021	127	+0.3%	Cons. · Japanese GAAP
FYE Mar 2022	132	+3.6%	Cons. · Japanese GAAP
FYE Mar 2023	144	+9.1%	Cons. · Japanese GAAP
FYE Mar 2024	163	+13.2%	Cons. · Japanese GAAP
FYE Mar 2025	189	+15.9%	Cons. · Japanese GAAP
FYE Mar 2026	215	+13.6%	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 ¥3.1bn

CAGR · 10 yrs +8.1%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.8	+733.8%	Cons. · Japanese GAAP
FYE Mar 2019	1.3	−89.9%	Cons. · Japanese GAAP
FYE Mar 2020	1.3	−0.7%	Cons. · Japanese GAAP
FYE Mar 2021	1.4	+9.7%	Cons. · Japanese GAAP
FYE Mar 2022	0.2	−85.9%	Cons. · Japanese GAAP
FYE Mar 2023	0.2	+15.1%	Cons. · Japanese GAAP
FYE Mar 2024	0.3	+45.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.4	+6.9%	Cons. · Japanese GAAP
FYE Mar 2026	3.1	+770.4%	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 ¥212bn

CAGR · 10 yrs +10.0%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	89.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	103	+14.1%	Cons. · Japanese GAAP
FYE Mar 2019	114	+11.2%	Cons. · Japanese GAAP
FYE Mar 2020	126	+10.3%	Cons. · Japanese GAAP
FYE Mar 2021	126	+0.3%	Cons. · Japanese GAAP
FYE Mar 2022	132	+4.6%	Cons. · Japanese GAAP
FYE Mar 2023	144	+9.1%	Cons. · Japanese GAAP
FYE Mar 2024	163	+13.1%	Cons. · Japanese GAAP
FYE Mar 2025	189	+15.9%	Cons. · Japanese GAAP
FYE Mar 2026	212	+12.1%	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 ¥177bn

CAGR · 10 yrs +8.8%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	82.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	100	+20.7%	Cons. · Japanese GAAP
FYE Mar 2019	111	+10.9%	Cons. · Japanese GAAP
FYE Mar 2020	124	+11.8%	Cons. · Japanese GAAP
FYE Mar 2021	109	−12.5%	Cons. · Japanese GAAP
FYE Mar 2022	121	+11.2%	Cons. · Japanese GAAP
FYE Mar 2023	120	−0.4%	Cons. · Japanese GAAP
FYE Mar 2024	142	+17.9%	Cons. · Japanese GAAP
FYE Mar 2025	163	+15.3%	Cons. · Japanese GAAP
FYE Mar 2026	177	+8.6%	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 ¥34bn

CAGR · 10 yrs +19.2%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.5	−64.4%	Cons. · Japanese GAAP
FYE Mar 2019	3.0	+21.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.7	−44.6%	Cons. · Japanese GAAP
FYE Mar 2021	17.5	+944.1%	Cons. · Japanese GAAP
FYE Mar 2022	11.2	−35.9%	Cons. · Japanese GAAP
FYE Mar 2023	23.7	+111.0%	Cons. · Japanese GAAP
FYE Mar 2024	21.1	−11.2%	Cons. · Japanese GAAP
FYE Mar 2025	25.3	+20.1%	Cons. · Japanese GAAP
FYE Mar 2026	34.1	+34.8%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥1.5bn

CAGR · 10 yrs +11.5%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.4	−35.5%	Cons. · Japanese GAAP
FYE Mar 2019	1.1	+218.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.5	−53.8%	Cons. · Japanese GAAP
FYE Mar 2021	1.9	+264.5%	Cons. · Japanese GAAP
FYE Mar 2022	1.1	−45.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.7	−29.4%	Cons. · Japanese GAAP
FYE Mar 2024	1.0	+39.4%	Cons. · Japanese GAAP
FYE Mar 2025	1.6	+50.1%	Cons. · Japanese GAAP
FYE Mar 2026	1.5	−5.0%	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 ¥47.0m

CAGR · 10 yrs −13.2%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Mar 2017	168	n/a	Cons. · Japanese GAAP
FYE Mar 2018	28.0	−83.3%	Cons. · Japanese GAAP
FYE Mar 2019	66.0	+135.7%	Cons. · Japanese GAAP
FYE Mar 2020	493	+647.0%	Cons. · Japanese GAAP
FYE Mar 2021	153	−69.0%	Cons. · Japanese GAAP
FYE Mar 2022	35.0	−77.1%	Cons. · Japanese GAAP
FYE Mar 2023	44.0	+25.7%	Cons. · Japanese GAAP
FYE Mar 2024	37.0	−15.9%	Cons. · Japanese GAAP
FYE Mar 2025	49.0	+32.4%	Cons. · Japanese GAAP
FYE Mar 2026	47.0	−4.1%	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 ¥36bn

CAGR · 10 yrs +19.1%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.8	−61.8%	Cons. · Japanese GAAP
FYE Mar 2019	4.1	+45.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.7	−58.2%	Cons. · Japanese GAAP
FYE Mar 2021	19.3	+1025.0%	Cons. · Japanese GAAP
FYE Mar 2022	12.3	−36.5%	Cons. · Japanese GAAP
FYE Mar 2023	24.4	+99.2%	Cons. · Japanese GAAP
FYE Mar 2024	22.1	−9.7%	Cons. · Japanese GAAP
FYE Mar 2025	26.8	+21.5%	Cons. · Japanese GAAP
FYE Mar 2026	35.5	+32.5%	Cons. · Japanese GAAP

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

Extraordinary income

FYE Mar 2026 n/a

CAGR · 3 yrs −66.5%

Fiscal year	Extraordinary income ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	703	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	230	n/a	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	79.0	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: 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 ¥933m

CAGR · 5 yrs +7.8%

Fiscal year	Extraordinary loss ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	690	n/a	Cons. · Japanese GAAP
FYE Mar 2020	376	−45.5%	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	468	n/a	Cons. · Japanese GAAP
FYE Mar 2024	653	+39.5%	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	933	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 ¥27bn

CAGR · 10 yrs +15.7%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.0	−45.6%	Cons. · Japanese GAAP
FYE Mar 2019	9.3	+136.1%	Cons. · Japanese GAAP
FYE Mar 2020	1.4	−85.1%	Cons. · Japanese GAAP
FYE Mar 2021	18.4	+1226.4%	Cons. · Japanese GAAP
FYE Mar 2022	12.3	−33.1%	Cons. · Japanese GAAP
FYE Mar 2023	22.3	+81.1%	Cons. · Japanese GAAP
FYE Mar 2024	21.8	−2.3%	Cons. · Japanese GAAP
FYE Mar 2025	22.5	+3.2%	Cons. · Japanese GAAP
FYE Mar 2026	27.1	+20.5%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 98.6%

Average · 10 yrs 98.2%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	98.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	88.9	−9.4pp	Cons. · Japanese GAAP
FYE Mar 2019	98.9	+10.0pp	Cons. · Japanese GAAP
FYE Mar 2020	99.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	98.9	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	99.8	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	99.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	99.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	99.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	98.6	−1.3pp	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 15.9%

Average · 10 yrs 9.5%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	7.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.2	−5.5pp	Cons. · Japanese GAAP
FYE Mar 2019	2.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	1.3	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	13.8	+12.4pp	Cons. · Japanese GAAP
FYE Mar 2022	8.5	−5.2pp	Cons. · Japanese GAAP
FYE Mar 2023	16.5	+7.9pp	Cons. · Japanese GAAP
FYE Mar 2024	12.9	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2025	13.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	15.9	+2.5pp	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 16.6%

Average · 10 yrs 10.1%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	8.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.4	−5.6pp	Cons. · Japanese GAAP
FYE Mar 2019	3.6	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2020	1.4	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2021	15.1	+13.8pp	Cons. · Japanese GAAP
FYE Mar 2022	9.3	−5.9pp	Cons. · Japanese GAAP
FYE Mar 2023	16.9	+7.7pp	Cons. · Japanese GAAP
FYE Mar 2024	13.5	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2025	14.2	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	16.6	+2.4pp	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 9.8%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	8.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.4	−4.5pp	Cons. · Japanese GAAP
FYE Mar 2019	8.1	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2020	1.1	−7.0pp	Cons. · Japanese GAAP
FYE Mar 2021	14.5	+13.4pp	Cons. · Japanese GAAP
FYE Mar 2022	9.3	−5.1pp	Cons. · Japanese GAAP
FYE Mar 2023	15.5	+6.2pp	Cons. · Japanese GAAP
FYE Mar 2024	13.4	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2025	11.9	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	12.6	+0.7pp	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 1.4%

Average · 10 yrs 1.8%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	1.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.1	+9.4pp	Cons. · Japanese GAAP
FYE Mar 2019	1.1	−10.0pp	Cons. · Japanese GAAP
FYE Mar 2020	1.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	1.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	0.2	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	0.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	0.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	0.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	1.4	+1.3pp	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 82.7%

Average · 10 yrs 88.7%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	90.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	86.7	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2019	96.2	+9.5pp	Cons. · Japanese GAAP
FYE Mar 2020	97.7	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2021	85.1	−12.5pp	Cons. · Japanese GAAP
FYE Mar 2022	91.3	+6.2pp	Cons. · Japanese GAAP
FYE Mar 2023	83.4	−8.0pp	Cons. · Japanese GAAP
FYE Mar 2024	86.9	+3.5pp	Cons. · Japanese GAAP
FYE Mar 2025	86.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	82.7	−3.8pp	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 ¥1.64tn

CAGR · 10 yrs +11.5%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	617	n/a	Cons. · Japanese GAAP
FYE Mar 2018	683	+10.7%	Cons. · Japanese GAAP
FYE Mar 2019	761	+11.4%	Cons. · Japanese GAAP
FYE Mar 2020	861	+13.1%	Cons. · Japanese GAAP
FYE Mar 2021	863	+0.3%	Cons. · Japanese GAAP
FYE Mar 2022	936	+8.4%	Cons. · Japanese GAAP
FYE Mar 2023	1,070	+14.4%	Cons. · Japanese GAAP
FYE Mar 2024	1,266	+18.3%	Cons. · Japanese GAAP
FYE Mar 2025	1,448	+14.4%	Cons. · Japanese GAAP
FYE Mar 2026	1,640	+13.2%	Cons. · Japanese GAAP

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

Equity net assets, shareholders' equity

FYE Mar 2026 ¥241bn

CAGR · 10 yrs +8.9%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	112	n/a	Cons. · Japanese GAAP
FYE Mar 2018	114	+2.5%	Cons. · Japanese GAAP
FYE Mar 2019	124	+8.6%	Cons. · Japanese GAAP
FYE Mar 2020	126	+1.4%	Cons. · Japanese GAAP
FYE Mar 2021	146	+15.5%	Cons. · Japanese GAAP
FYE Mar 2022	154	+5.7%	Cons. · Japanese GAAP
FYE Mar 2023	176	+14.4%	Cons. · Japanese GAAP
FYE Mar 2024	198	+12.4%	Cons. · Japanese GAAP
FYE Mar 2025	218	+10.1%	Cons. · Japanese GAAP
FYE Mar 2026	241	+10.8%	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 ¥451bn

CAGR · 10 yrs +7.5%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	235	n/a	Cons. · Japanese GAAP
FYE Mar 2018	304	+29.1%	Cons. · Japanese GAAP
FYE Mar 2019	292	−3.8%	Cons. · Japanese GAAP
FYE Mar 2020	319	+9.0%	Cons. · Japanese GAAP
FYE Mar 2021	281	−11.7%	Cons. · Japanese GAAP
FYE Mar 2022	275	−2.4%	Cons. · Japanese GAAP
FYE Mar 2023	319	+16.1%	Cons. · Japanese GAAP
FYE Mar 2024	350	+9.9%	Cons. · Japanese GAAP
FYE Mar 2025	410	+17.0%	Cons. · Japanese GAAP
FYE Mar 2026	451	+10.1%	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 ¥108bn

CAGR · 10 yrs +4.3%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	73.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	83.3	+13.2%	Cons. · Japanese GAAP
FYE Mar 2019	86.6	+3.9%	Cons. · Japanese GAAP
FYE Mar 2020	103	+19.1%	Cons. · Japanese GAAP
FYE Mar 2021	101	−2.3%	Cons. · Japanese GAAP
FYE Mar 2022	77.3	−23.3%	Cons. · Japanese GAAP
FYE Mar 2023	69.6	−10.0%	Cons. · Japanese GAAP
FYE Mar 2024	102	+46.1%	Cons. · Japanese GAAP
FYE Mar 2025	84.9	−16.5%	Cons. · Japanese GAAP
FYE Mar 2026	108	+26.7%	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 ¥343bn

CAGR · 10 yrs +8.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	162	n/a	Cons. · Japanese GAAP
FYE Mar 2018	221	+36.3%	Cons. · Japanese GAAP
FYE Mar 2019	206	−6.7%	Cons. · Japanese GAAP
FYE Mar 2020	216	+4.8%	Cons. · Japanese GAAP
FYE Mar 2021	181	−16.2%	Cons. · Japanese GAAP
FYE Mar 2022	197	+9.2%	Cons. · Japanese GAAP
FYE Mar 2023	249	+26.3%	Cons. · Japanese GAAP
FYE Mar 2024	249	−0.2%	Cons. · Japanese GAAP
FYE Mar 2025	325	+30.6%	Cons. · Japanese GAAP
FYE Mar 2026	343	+5.7%	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 ¥35bn

CAGR · 10 yrs +30.8%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	3.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.2	+2.7%	Cons. · Japanese GAAP
FYE Mar 2019	3.3	+3.1%	Cons. · Japanese GAAP
FYE Mar 2020	4.3	+30.0%	Cons. · Japanese GAAP
FYE Mar 2021	5.3	+23.8%	Cons. · Japanese GAAP
FYE Mar 2022	6.7	+27.0%	Cons. · Japanese GAAP
FYE Mar 2023	8.4	+24.6%	Cons. · Japanese GAAP
FYE Mar 2024	14.3	+71.0%	Cons. · Japanese GAAP
FYE Mar 2025	29.5	+105.6%	Cons. · Japanese GAAP
FYE Mar 2026	34.8	+17.9%	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 14.7%

Average · 10 yrs 16.1%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	18.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.8	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	16.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	14.6	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	16.9	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2022	16.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	16.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	15.6	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	15.0	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	14.7	−0.3pp	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 186.8%

Average · 10 yrs 206.9%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	210.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	265.5	+54.7pp	Cons. · Japanese GAAP
FYE Mar 2019	235.3	−30.2pp	Cons. · Japanese GAAP
FYE Mar 2020	252.9	+17.7pp	Cons. · Japanese GAAP
FYE Mar 2021	193.3	−59.6pp	Cons. · Japanese GAAP
FYE Mar 2022	178.4	−14.9pp	Cons. · Japanese GAAP
FYE Mar 2023	181.0	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2024	177.0	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2025	188.0	+11.0pp	Cons. · Japanese GAAP
FYE Mar 2026	186.8	−1.2pp	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 11.2%

Average · 10 yrs 8.5%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	6.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.5	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2019	7.5	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2020	1.1	−6.4pp	Cons. · Japanese GAAP
FYE Mar 2021	12.7	+11.6pp	Cons. · Japanese GAAP
FYE Mar 2022	8.0	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2023	12.7	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2024	11.0	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	10.3	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	11.2	+0.9pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 1.7%

Average · 10 yrs 1.4%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.6	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	1.2	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	0.2	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	2.1	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2022	1.3	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	2.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	1.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	1.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	1.7	+0.1pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.13×

CAGR · 10 yrs −1.4%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.15	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.17	+14.0%	Cons. · Japanese GAAP
FYE Mar 2019	0.15	−10.3%	Cons. · Japanese GAAP
FYE Mar 2020	0.15	−2.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.15	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.14	−4.4%	Cons. · Japanese GAAP
FYE Mar 2023	0.13	−4.6%	Cons. · Japanese GAAP
FYE Mar 2024	0.13	−4.4%	Cons. · Japanese GAAP
FYE Mar 2025	0.13	+1.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.13	+0.3%	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 -¥57bn

Average · 10 yrs -¥49bn

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-51.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-70.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-41.8	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-51.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-15.6	−177.1%	Cons. · Japanese GAAP
FYE Mar 2023	-70.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-74.2	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-82.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-57.2	n/a	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 -¥11bn

Average · 10 yrs -¥9.6bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-6.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-9.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-8.9	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-12.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-35.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-10.9	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 ¥53bn

CAGR · 10 yrs +0.5%

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	51.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	67.6	+32.3%	Cons. · Japanese GAAP
FYE Mar 2019	52.7	−22.1%	Cons. · Japanese GAAP
FYE Mar 2020	55.4	+5.1%	Cons. · Japanese GAAP
FYE Mar 2021	-18.8	−134.0%	Cons. · Japanese GAAP
FYE Mar 2022	21.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	78.2	+271.9%	Cons. · Japanese GAAP
FYE Mar 2024	101	+29.1%	Cons. · Japanese GAAP
FYE Mar 2025	120	+18.7%	Cons. · Japanese GAAP
FYE Mar 2026	53.4	−55.4%	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 ¥42bn

CAGR · 10 yrs +2.6%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	33.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.3	−12.6%	Cons. · Japanese GAAP
FYE Mar 2019	36.1	+23.1%	Cons. · Japanese GAAP
FYE Mar 2020	43.5	+20.5%	Cons. · Japanese GAAP
FYE Mar 2021	35.9	−17.4%	Cons. · Japanese GAAP
FYE Mar 2022	39.1	+8.9%	Cons. · Japanese GAAP
FYE Mar 2023	37.9	−3.2%	Cons. · Japanese GAAP
FYE Mar 2024	51.9	+37.1%	Cons. · Japanese GAAP
FYE Mar 2025	55.9	+7.7%	Cons. · Japanese GAAP
FYE Mar 2026	42.2	−24.6%	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 -¥68bn

Average · 10 yrs -¥59bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-57.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-73.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-46.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-53.9	n/a	Cons. · Japanese GAAP
FYE Mar 2021	11.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-17.8	−262.1%	Cons. · Japanese GAAP
FYE Mar 2023	-79.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-87.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-118	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-68.2	n/a	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 -26.6%

Average · 10 yrs -35.4%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	-56.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-60.9	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2019	-36.2	+24.6pp	Cons. · Japanese GAAP
FYE Mar 2020	-40.3	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2021	15.9	+56.2pp	Cons. · Japanese GAAP
FYE Mar 2022	-11.8	−27.7pp	Cons. · Japanese GAAP
FYE Mar 2023	-49.0	−37.1pp	Cons. · Japanese GAAP
FYE Mar 2024	-45.5	+3.5pp	Cons. · Japanese GAAP
FYE Mar 2025	-43.8	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2026	-26.6	+17.2pp	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 -¥409bn

Average · 10 yrs -¥283bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-202	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-275	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-256	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-275	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-245	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-235	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-281	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-298	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-354	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-409	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 ¥220bn

Change · 10 yrs +¥61bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	158	n/a
FYE Mar 2018	170	n/a
FYE Mar 2019	135	n/a
FYE Mar 2020	118	n/a
FYE Mar 2021	155	n/a
FYE Mar 2022	174	n/a
FYE Mar 2023	175	n/a
FYE Mar 2024	223	n/a
FYE Mar 2025	168	n/a
FYE Mar 2026	220	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 453¥

Change · 10 yrs +126¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	327	n/a
FYE Mar 2018	352	n/a
FYE Mar 2019	278	n/a
FYE Mar 2020	243	n/a
FYE Mar 2021	320	n/a
FYE Mar 2022	360	n/a
FYE Mar 2023	360	n/a
FYE Mar 2024	460	n/a
FYE Mar 2025	347	n/a
FYE Mar 2026	453	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 484,620,136shares

Change · 10 yrs +1,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	484,619,136	Parent
FYE Mar 2018	484,620,136	Parent
FYE Mar 2019	484,620,136	Parent
FYE Mar 2020	484,620,136	Parent
FYE Mar 2021	484,620,136	Parent
FYE Mar 2022	484,620,136	Parent
FYE Mar 2023	484,620,136	Parent
FYE Mar 2024	484,620,136	Parent
FYE Mar 2025	484,620,136	Parent
FYE Mar 2026	484,620,136	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 56.63¥

Change · 10 yrs +41.58¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	15.05	Cons.
FYE Mar 2018	8.18	Cons.
FYE Mar 2019	19.32	Cons.
FYE Mar 2020	2.88	Cons.
FYE Mar 2021	38.12	Cons.
FYE Mar 2022	25.50	Cons.
FYE Mar 2023	46.19	Cons.
FYE Mar 2024	45.10	Cons.
FYE Mar 2025	46.91	Cons.
FYE Mar 2026	56.63	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 498.12¥

Change · 10 yrs +267.73¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	230.39	Cons. · Japanese GAAP
FYE Mar 2018	236.16	Cons. · Japanese GAAP
FYE Mar 2019	256.44	Cons. · Japanese GAAP
FYE Mar 2020	260.03	Cons. · Japanese GAAP
FYE Mar 2021	300.35	Cons. · Japanese GAAP
FYE Mar 2022	317.57	Cons. · Japanese GAAP
FYE Mar 2023	363.32	Cons. · Japanese GAAP
FYE Mar 2024	408.38	Cons. · Japanese GAAP
FYE Mar 2025	449.68	Cons. · Japanese GAAP
FYE Mar 2026	498.12	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 8.00×

Average · 10 yrs 21.92×

Fiscal year	PER ×	Basis
FYE Mar 2017	21.70	Cons.
FYE Mar 2018	43.00	Cons.
FYE Mar 2019	14.40	Cons.
FYE Mar 2020	84.20	Cons.
FYE Mar 2021	8.40	Cons.
FYE Mar 2022	14.10	Cons.
FYE Mar 2023	7.80	Cons.
FYE Mar 2024	10.20	Cons.
FYE Mar 2025	7.40	Cons.
FYE Mar 2026	8.00	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 0.90×

Average · 10 yrs 1.09×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.43	Cons.
FYE Mar 2018	1.49	Cons.
FYE Mar 2019	1.08	Cons.
FYE Mar 2020	0.93	Cons.
FYE Mar 2021	1.06	Cons.
FYE Mar 2022	1.13	Cons.
FYE Mar 2023	0.99	Cons.
FYE Mar 2024	1.12	Cons.
FYE Mar 2025	0.76	Cons.
FYE Mar 2026	0.90	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 2,610people

Change · 10 yrs +1,137 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	1,473	n/a	Cons.
FYE Mar 2018	2,503	+69.9%	Cons.
FYE Mar 2019	2,273	−9.2%	Cons.
FYE Mar 2020	2,113	−7.0%	Cons.
FYE Mar 2021	2,135	+1.0%	Cons.
FYE Mar 2022	2,116	−0.9%	Cons.
FYE Mar 2023	2,180	+3.0%	Cons.
FYE Mar 2024	2,470	+13.3%	Cons.
FYE Mar 2025	2,738	+10.9%	Cons.
FYE Mar 2026	2,610	−4.7%	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 1,276people

Change · 10 yrs +257 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,019	n/a	Parent
FYE Mar 2018	1,057	+3.7%	Parent
FYE Mar 2019	1,044	−1.2%	Parent
FYE Mar 2020	1,028	−1.5%	Parent
FYE Mar 2021	1,012	−1.6%	Parent
FYE Mar 2022	1,010	−0.2%	Parent
FYE Mar 2023	1,059	+4.9%	Parent
FYE Mar 2024	1,229	+16.1%	Parent
FYE Mar 2025	1,265	+2.9%	Parent
FYE Mar 2026	1,276	+0.9%	Parent

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

Average annual pay parent company

FYE Mar 2026 604万円

Change · 8 yrs +50万円

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	554	n/a	Parent
FYE Mar 2020	565	+2.0%	Parent
FYE Mar 2021	614	+8.6%	Parent
FYE Mar 2022	560	−8.7%	Parent
FYE Mar 2023	570	+1.8%	Parent
FYE Mar 2024	564	−1.1%	Parent
FYE Mar 2025	588	+4.3%	Parent
FYE Mar 2026	604	+2.7%	Parent

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

Average age

FYE Mar 2026 38.7years

Change · 8 yrs −2.8 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	41.5	n/a	Parent
FYE Mar 2020	39.7	−4.3%	Parent
FYE Mar 2021	41.5	+4.5%	Parent
FYE Mar 2022	40.1	−3.4%	Parent
FYE Mar 2023	39.9	−0.5%	Parent
FYE Mar 2024	38.5	−3.5%	Parent
FYE Mar 2025	38.5	−0.0%	Parent
FYE Mar 2026	38.7	+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 12.6years

Change · 8 yrs −1.4 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	14.0	n/a	Parent
FYE Mar 2020	14.8	+5.7%	Parent
FYE Mar 2021	16.6	+12.2%	Parent
FYE Mar 2022	15.4	−7.2%	Parent
FYE Mar 2023	15.1	−1.9%	Parent
FYE Mar 2024	12.7	−15.9%	Parent
FYE Mar 2025	12.5	−1.6%	Parent
FYE Mar 2026	12.6	+0.8%	Parent

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

Temporary employees

FYE Mar 2026 1,421people

Change · 10 yrs +405 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	1,016	n/a	n/a
FYE Mar 2018	994	−2.2%	n/a
FYE Mar 2019	904	−9.1%	n/a
FYE Mar 2020	950	+5.1%	n/a
FYE Mar 2021	1,056	+11.2%	n/a
FYE Mar 2022	1,032	−2.3%	n/a
FYE Mar 2023	1,095	+6.1%	n/a
FYE Mar 2024	1,246	+13.8%	n/a
FYE Mar 2025	1,305	+4.7%	n/a
FYE Mar 2026	1,421	+8.9%	n/a

Definition: Average number of temporary and part-time staff over the year
Formula: Average temporary headcount, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Mar 2026 ¥82.3m

Change · 10 yrs +¥20.2m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	62.1	n/a	Cons.
FYE Mar 2018	46.1	−25.7%	Cons.
FYE Mar 2019	50.7	+10.1%	Cons.
FYE Mar 2020	60.1	+18.5%	Cons.
FYE Mar 2021	59.7	−0.7%	Cons.
FYE Mar 2022	62.4	+4.6%	Cons.
FYE Mar 2023	66.1	+5.9%	Cons.
FYE Mar 2024	66.0	−0.1%	Cons.
FYE Mar 2025	69.0	+4.6%	Cons.
FYE Mar 2026	82.3	+19.1%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥13.1m

Change · 10 yrs +¥8.3m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	4.8	n/a	Cons.
FYE Mar 2018	1.0	−79.1%	Cons.
FYE Mar 2019	1.3	+33.9%	Cons.
FYE Mar 2020	0.8	−40.4%	Cons.
FYE Mar 2021	8.2	+933.3%	Cons.
FYE Mar 2022	5.3	−35.3%	Cons.
FYE Mar 2023	10.9	+104.8%	Cons.
FYE Mar 2024	8.5	−21.6%	Cons.
FYE Mar 2025	9.2	+8.4%	Cons.
FYE Mar 2026	13.1	+41.4%	Cons.

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

Disclaimer

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

Accuracy, liability, reuse and privacy — the full disclaimer →

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