Financials

Nippon Yakin Kogyo: FYE Mar 2026 and ten years of results (49 metrics)

FYE Mar 2026 · Revenue¥151bnYoY −12.3%

FYE Mar 2026 · Operating profit¥11bnYoY −35.3%

FYE Mar 2026 · Net profit¥7.2bnYoY −37.7%

FYE Mar 2026 · Equity ratio46.1%YoY +1.7pp

FYE Mar 2026 · Group employees2,093YoY −2

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥113bn	n/a	¥4.4bn	n/a	3.9%	¥2.3bn	Kimura Hajime	—
FYE Mar 2018Consolidated	¥119bn	+5.4%	¥4.2bn	−4.2%	3.5%	¥4.6bn	Kimura Hajime	—
FYE Mar 2019Consolidated	¥144bn	+20.7%	¥9.4bn	+126.6%	6.6%	¥7.7bn	Kimura Hajime	—
FYE Mar 2020Consolidated	¥136bn	−5.1%	¥7.8bn	−17.0%	5.7%	¥5.3bn	Kimura Hajime	Ordinary profit doubles to ¥8.2bn; <a class="en-history_person" href="/tse/5480/executives/ceo/kubota-takashi/" hreflang="ja">Kubota Takashi</a> becomes president
FYE Mar 2021Consolidated	¥112bn	−17.5%	¥6.1bn	−21.6%	5.5%	¥3.8bn	Kubota Takashi	—
FYE Mar 2022Consolidated	¥149bn	+32.4%	¥14bn	+127.3%	9.4%	¥8.5bn	Kubota Takashi	—
FYE Mar 2023Consolidated	¥199bn	+33.8%	¥29bn	+109.5%	14.7%	¥20bn	Kubota Takashi	The high-efficiency E furnace starts at Kawasaki, the first since 1968
FYE Mar 2024Consolidated	¥180bn	−9.5%	¥20bn	−31.6%	11.1%	¥14bn	Kubota Takashi	Record profit: sales ¥199.3bn, ordinary profit ¥27.7bn
FYE Mar 2025Consolidated	¥172bn	−4.6%	¥17bn	−15.2%	9.9%	¥12bn	Kubota Takashi	<a class="en-history_person" href="/tse/5480/executives/ceo/urata-naruki/" hreflang="ja">Urata Naruki</a> becomes president in June
FYE Mar 2026Consolidated	¥151bn	−12.3%	¥11bn	−35.3%	7.3%	¥7.2bn	Urata Naruki	—

How it compares

Daido Steel¥578bnFY2025Operating margin 7.3%

Sanyo Special Steel Co., Ltd.Delisted 2025

Aichiseikou¥304bnFY2025Operating margin 5.7%

Maruichi Steel Tube Ltd.¥244bnFY2025Operating margin 13.1%

YODOKO,Ltd.¥195bnFY2025Operating margin 6.1%

Nippon Yakin Kogyo¥151bnFY2025Operating margin 7.3%

Kurimototekkousho¥127bnFY2024Operating margin 6.3%

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 ¥151bn

CAGR · 10 yrs +3.3%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	113	n/a	Cons. · Japanese GAAP
FYE Mar 2018	119	+5.4%	Cons. · Japanese GAAP
FYE Mar 2019	144	+20.7%	Cons. · Japanese GAAP
FYE Mar 2020	136	−5.1%	Cons. · Japanese GAAP
FYE Mar 2021	112	−17.5%	Cons. · Japanese GAAP
FYE Mar 2022	149	+32.4%	Cons. · Japanese GAAP
FYE Mar 2023	199	+33.8%	Cons. · Japanese GAAP
FYE Mar 2024	180	−9.5%	Cons. · Japanese GAAP
FYE Mar 2025	172	−4.6%	Cons. · Japanese GAAP
FYE Mar 2026	151	−12.3%	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 ¥126bn

CAGR · 10 yrs +2.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	98.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	105	+5.9%	Cons. · Japanese GAAP
FYE Mar 2019	122	+17.1%	Cons. · Japanese GAAP
FYE Mar 2020	117	−4.5%	Cons. · Japanese GAAP
FYE Mar 2021	95.4	−18.3%	Cons. · Japanese GAAP
FYE Mar 2022	123	+28.9%	Cons. · Japanese GAAP
FYE Mar 2023	157	+27.9%	Cons. · Japanese GAAP
FYE Mar 2024	147	−6.6%	Cons. · Japanese GAAP
FYE Mar 2025	141	−3.8%	Cons. · Japanese GAAP
FYE Mar 2026	126	−11.3%	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 ¥25bn

CAGR · 10 yrs +6.6%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	14.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.6	+1.9%	Cons. · Japanese GAAP
FYE Mar 2019	21.4	+46.8%	Cons. · Japanese GAAP
FYE Mar 2020	19.5	−8.6%	Cons. · Japanese GAAP
FYE Mar 2021	17.1	−12.7%	Cons. · Japanese GAAP
FYE Mar 2022	25.9	+51.9%	Cons. · Japanese GAAP
FYE Mar 2023	42.0	+61.9%	Cons. · Japanese GAAP
FYE Mar 2024	33.4	−20.5%	Cons. · Japanese GAAP
FYE Mar 2025	30.6	−8.1%	Cons. · Japanese GAAP
FYE Mar 2026	25.4	−17.3%	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 ¥14bn

CAGR · 10 yrs +4.2%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	9.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.4	+4.6%	Cons. · Japanese GAAP
FYE Mar 2019	11.9	+14.8%	Cons. · Japanese GAAP
FYE Mar 2020	11.7	−1.9%	Cons. · Japanese GAAP
FYE Mar 2021	10.9	−6.7%	Cons. · Japanese GAAP
FYE Mar 2022	11.9	+9.5%	Cons. · Japanese GAAP
FYE Mar 2023	12.7	+6.3%	Cons. · Japanese GAAP
FYE Mar 2024	13.4	+5.2%	Cons. · Japanese GAAP
FYE Mar 2025	13.7	+2.5%	Cons. · Japanese GAAP
FYE Mar 2026	14.4	+5.1%	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 ¥11bn

CAGR · 10 yrs +10.8%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	4.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.2	−4.2%	Cons. · Japanese GAAP
FYE Mar 2019	9.4	+126.6%	Cons. · Japanese GAAP
FYE Mar 2020	7.8	−17.0%	Cons. · Japanese GAAP
FYE Mar 2021	6.1	−21.6%	Cons. · Japanese GAAP
FYE Mar 2022	14.0	+127.3%	Cons. · Japanese GAAP
FYE Mar 2023	29.3	+109.5%	Cons. · Japanese GAAP
FYE Mar 2024	20.0	−31.6%	Cons. · Japanese GAAP
FYE Mar 2025	17.0	−15.2%	Cons. · Japanese GAAP
FYE Mar 2026	11.0	−35.3%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥541m

CAGR · 10 yrs +8.3%

Fiscal year	Non-operating income ¥ m	YoY	Basis
FYE Mar 2017	263	n/a	Cons. · Japanese GAAP
FYE Mar 2018	562	+113.7%	Cons. · Japanese GAAP
FYE Mar 2019	417	−25.8%	Cons. · Japanese GAAP
FYE Mar 2020	294	−29.5%	Cons. · Japanese GAAP
FYE Mar 2021	327	+11.2%	Cons. · Japanese GAAP
FYE Mar 2022	337	+3.1%	Cons. · Japanese GAAP
FYE Mar 2023	416	+23.4%	Cons. · Japanese GAAP
FYE Mar 2024	739	+77.6%	Cons. · Japanese GAAP
FYE Mar 2025	670	−9.3%	Cons. · Japanese GAAP
FYE Mar 2026	541	−19.3%	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 ¥1.9bn

CAGR · 10 yrs +0.6%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.3	−23.9%	Cons. · Japanese GAAP
FYE Mar 2019	1.7	+25.1%	Cons. · Japanese GAAP
FYE Mar 2020	1.8	+6.4%	Cons. · Japanese GAAP
FYE Mar 2021	1.5	−17.3%	Cons. · Japanese GAAP
FYE Mar 2022	1.5	+1.1%	Cons. · Japanese GAAP
FYE Mar 2023	1.9	+29.2%	Cons. · Japanese GAAP
FYE Mar 2024	1.6	−16.2%	Cons. · Japanese GAAP
FYE Mar 2025	1.4	−11.3%	Cons. · Japanese GAAP
FYE Mar 2026	1.9	+29.1%	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 ¥9.7bn

CAGR · 10 yrs +14.5%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.4	+18.8%	Cons. · Japanese GAAP
FYE Mar 2019	8.2	+141.5%	Cons. · Japanese GAAP
FYE Mar 2020	6.3	−22.5%	Cons. · Japanese GAAP
FYE Mar 2021	5.0	−21.3%	Cons. · Japanese GAAP
FYE Mar 2022	12.8	+156.7%	Cons. · Japanese GAAP
FYE Mar 2023	27.7	+116.6%	Cons. · Japanese GAAP
FYE Mar 2024	19.1	−31.0%	Cons. · Japanese GAAP
FYE Mar 2025	16.2	−15.3%	Cons. · Japanese GAAP
FYE Mar 2026	9.7	−40.4%	Cons. · Japanese GAAP

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

Extraordinary income

FYE Mar 2026 ¥0.9bn

CAGR · 10 yrs +81.5%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.5	+37350.0%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−96.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.0	−86.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.0	−37.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.2	+3300.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.1	−45.3%	Cons. · Japanese GAAP
FYE Mar 2024	0.0	−64.5%	Cons. · Japanese GAAP
FYE Mar 2025	0.0	−93.9%	Cons. · Japanese GAAP
FYE Mar 2026	0.9	+42700.0%	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 ¥929m

CAGR · 4 yrs +5.3%

Fiscal year	Extraordinary loss ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	796	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	255	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	110	n/a	Cons. · Japanese GAAP
FYE Mar 2026	929	+744.5%	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 ¥7.2bn

CAGR · 10 yrs +13.3%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.6	+94.8%	Cons. · Japanese GAAP
FYE Mar 2019	7.7	+68.0%	Cons. · Japanese GAAP
FYE Mar 2020	5.3	−30.7%	Cons. · Japanese GAAP
FYE Mar 2021	3.8	−29.3%	Cons. · Japanese GAAP
FYE Mar 2022	8.5	+125.1%	Cons. · Japanese GAAP
FYE Mar 2023	19.7	+132.6%	Cons. · Japanese GAAP
FYE Mar 2024	13.6	−31.2%	Cons. · Japanese GAAP
FYE Mar 2025	11.6	−14.6%	Cons. · Japanese GAAP
FYE Mar 2026	7.2	−37.7%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 16.8%

Average · 10 yrs 16.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	12.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.2	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	14.9	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2020	14.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	15.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	17.4	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2023	21.0	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2024	18.5	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2025	17.8	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	16.8	−1.0pp	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 7.3%

Average · 10 yrs 7.7%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	6.6	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2020	5.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	5.5	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	9.4	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2023	14.7	+5.3pp	Cons. · Japanese GAAP
FYE Mar 2024	11.1	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2025	9.9	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	7.3	−2.6pp	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 6.4%

Average · 10 yrs 6.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	2.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	5.7	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2020	4.7	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2021	4.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	8.6	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2023	13.9	+5.3pp	Cons. · Japanese GAAP
FYE Mar 2024	10.6	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2025	9.4	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	6.4	−3.0pp	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 4.8%

Average · 10 yrs 5.3%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	2.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.8	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2019	5.3	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	3.9	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2021	3.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	5.7	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	9.9	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2024	7.5	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2025	6.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	4.8	−1.9pp	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 83.2%

Average · 10 yrs 83.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	87.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	87.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	85.1	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2020	85.7	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	84.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	82.6	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2023	79.0	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2024	81.5	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2025	82.2	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	83.2	+1.0pp	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 9.5%

Average · 10 yrs 8.3%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	8.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	8.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	8.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	9.7	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2022	8.0	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2023	6.4	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	7.4	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	8.0	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	9.5	+1.6pp	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 ¥219bn

CAGR · 10 yrs +5.5%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	136	n/a	Cons. · Japanese GAAP
FYE Mar 2018	148	+8.8%	Cons. · Japanese GAAP
FYE Mar 2019	150	+1.7%	Cons. · Japanese GAAP
FYE Mar 2020	159	+5.6%	Cons. · Japanese GAAP
FYE Mar 2021	161	+1.7%	Cons. · Japanese GAAP
FYE Mar 2022	187	+16.3%	Cons. · Japanese GAAP
FYE Mar 2023	222	+18.6%	Cons. · Japanese GAAP
FYE Mar 2024	220	−1.0%	Cons. · Japanese GAAP
FYE Mar 2025	217	−1.1%	Cons. · Japanese GAAP
FYE Mar 2026	219	+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 ¥101bn

CAGR · 10 yrs +11.9%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	36.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.8	+13.4%	Cons. · Japanese GAAP
FYE Mar 2019	47.9	+14.6%	Cons. · Japanese GAAP
FYE Mar 2020	51.1	+6.7%	Cons. · Japanese GAAP
FYE Mar 2021	55.1	+7.8%	Cons. · Japanese GAAP
FYE Mar 2022	62.2	+12.8%	Cons. · Japanese GAAP
FYE Mar 2023	79.6	+28.1%	Cons. · Japanese GAAP
FYE Mar 2024	89.5	+12.5%	Cons. · Japanese GAAP
FYE Mar 2025	96.4	+7.7%	Cons. · Japanese GAAP
FYE Mar 2026	101	+4.9%	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 ¥59bn

CAGR · 10 yrs +3.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	41.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	44.3	+5.8%	Cons. · Japanese GAAP
FYE Mar 2019	43.6	−1.4%	Cons. · Japanese GAAP
FYE Mar 2020	52.6	+20.5%	Cons. · Japanese GAAP
FYE Mar 2021	47.4	−9.9%	Cons. · Japanese GAAP
FYE Mar 2022	56.3	+18.7%	Cons. · Japanese GAAP
FYE Mar 2023	65.9	+17.1%	Cons. · Japanese GAAP
FYE Mar 2024	59.6	−9.5%	Cons. · Japanese GAAP
FYE Mar 2025	57.4	−3.8%	Cons. · Japanese GAAP
FYE Mar 2026	59.3	+3.4%	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 ¥38bn

CAGR · 10 yrs +4.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	26.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.4	+5.2%	Cons. · Japanese GAAP
FYE Mar 2019	28.7	+4.5%	Cons. · Japanese GAAP
FYE Mar 2020	32.6	+13.7%	Cons. · Japanese GAAP
FYE Mar 2021	28.3	−13.2%	Cons. · Japanese GAAP
FYE Mar 2022	34.4	+21.5%	Cons. · Japanese GAAP
FYE Mar 2023	35.1	+2.0%	Cons. · Japanese GAAP
FYE Mar 2024	31.8	−9.2%	Cons. · Japanese GAAP
FYE Mar 2025	36.3	+14.1%	Cons. · Japanese GAAP
FYE Mar 2026	37.7	+3.9%	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 ¥22bn

CAGR · 10 yrs +3.5%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	15.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.9	+6.7%	Cons. · Japanese GAAP
FYE Mar 2019	15.0	−11.2%	Cons. · Japanese GAAP
FYE Mar 2020	20.0	+33.5%	Cons. · Japanese GAAP
FYE Mar 2021	19.1	−4.5%	Cons. · Japanese GAAP
FYE Mar 2022	21.9	+14.7%	Cons. · Japanese GAAP
FYE Mar 2023	30.9	+40.9%	Cons. · Japanese GAAP
FYE Mar 2024	27.8	−9.8%	Cons. · Japanese GAAP
FYE Mar 2025	21.0	−24.4%	Cons. · Japanese GAAP
FYE Mar 2026	21.6	+2.6%	Cons. · Japanese GAAP

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

Intangible assets

FYE Mar 2026 ¥2.8bn

CAGR · 10 yrs +8.9%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	−20.2%	Cons. · Japanese GAAP
FYE Mar 2019	1.0	−4.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.1	+13.9%	Cons. · Japanese GAAP
FYE Mar 2021	1.6	+45.3%	Cons. · Japanese GAAP
FYE Mar 2022	2.3	+41.4%	Cons. · Japanese GAAP
FYE Mar 2023	2.8	+22.4%	Cons. · Japanese GAAP
FYE Mar 2024	2.3	−19.4%	Cons. · Japanese GAAP
FYE Mar 2025	2.9	+27.7%	Cons. · Japanese GAAP
FYE Mar 2026	2.8	−3.8%	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 46.1%

Average · 10 yrs 35.4%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	27.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	28.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	31.9	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2020	32.2	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	34.2	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	33.2	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	35.8	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2024	40.7	+4.9pp	Cons. · Japanese GAAP
FYE Mar 2025	44.3	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2026	46.1	+1.7pp	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 58.7%

Average · 10 yrs 85.7%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	113.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	105.9	−7.6pp	Cons. · Japanese GAAP
FYE Mar 2019	91.1	−14.8pp	Cons. · Japanese GAAP
FYE Mar 2020	102.9	+11.8pp	Cons. · Japanese GAAP
FYE Mar 2021	86.0	−16.9pp	Cons. · Japanese GAAP
FYE Mar 2022	90.5	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2023	82.8	−7.7pp	Cons. · Japanese GAAP
FYE Mar 2024	66.6	−16.2pp	Cons. · Japanese GAAP
FYE Mar 2025	59.5	−7.1pp	Cons. · Japanese GAAP
FYE Mar 2026	58.7	−0.8pp	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 7.1%

Average · 10 yrs 12.3%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	6.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.9	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2019	16.0	+5.1pp	Cons. · Japanese GAAP
FYE Mar 2020	10.4	−5.6pp	Cons. · Japanese GAAP
FYE Mar 2021	6.8	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2022	13.6	+6.8pp	Cons. · Japanese GAAP
FYE Mar 2023	24.7	+11.1pp	Cons. · Japanese GAAP
FYE Mar 2024	15.2	−9.6pp	Cons. · Japanese GAAP
FYE Mar 2025	12.0	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2026	7.1	−4.9pp	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 4.4%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	1.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.1	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	5.1	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2020	3.4	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2021	2.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	4.5	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2023	8.9	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2024	6.2	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2025	5.3	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	3.3	−2.0pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.69×

CAGR · 10 yrs −2.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.83	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.81	−3.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.96	+18.7%	Cons. · Japanese GAAP
FYE Mar 2020	0.86	−10.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.70	−18.9%	Cons. · Japanese GAAP
FYE Mar 2022	0.79	+13.9%	Cons. · Japanese GAAP
FYE Mar 2023	0.90	+12.9%	Cons. · Japanese GAAP
FYE Mar 2024	0.82	−8.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.79	−3.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.69	−13.1%	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 ¥14bn

CAGR · 10 yrs +5.5%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.0	−39.8%	Cons. · Japanese GAAP
FYE Mar 2019	9.2	+82.3%	Cons. · Japanese GAAP
FYE Mar 2020	8.0	−13.0%	Cons. · Japanese GAAP
FYE Mar 2021	11.2	+40.1%	Cons. · Japanese GAAP
FYE Mar 2022	-0.7	−106.2%	Cons. · Japanese GAAP
FYE Mar 2023	3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	26.8	+635.1%	Cons. · Japanese GAAP
FYE Mar 2025	11.0	−58.8%	Cons. · Japanese GAAP
FYE Mar 2026	13.5	+22.7%	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 -¥9.4bn

Average · 10 yrs -¥8.2bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-6.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-15.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-13.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-11.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-9.4	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 -¥2.7bn

Average · 10 yrs -¥0.9bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-2.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-2.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	8.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-8.0	−192.0%	Cons. · Japanese GAAP
FYE Mar 2022	15.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	8.5	−43.3%	Cons. · Japanese GAAP
FYE Mar 2024	-14.3	−267.9%	Cons. · Japanese GAAP
FYE Mar 2025	-7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-2.7	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 ¥11bn

CAGR · 10 yrs +7.1%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	5.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.7	−4.3%	Cons. · Japanese GAAP
FYE Mar 2019	6.3	+10.2%	Cons. · Japanese GAAP
FYE Mar 2020	17.4	+178.1%	Cons. · Japanese GAAP
FYE Mar 2021	13.8	−20.5%	Cons. · Japanese GAAP
FYE Mar 2022	12.5	−9.3%	Cons. · Japanese GAAP
FYE Mar 2023	11.8	−6.0%	Cons. · Japanese GAAP
FYE Mar 2024	16.9	+43.4%	Cons. · Japanese GAAP
FYE Mar 2025	9.4	−44.6%	Cons. · Japanese GAAP
FYE Mar 2026	11.0	+17.8%	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 ¥4.2bn

CAGR · 10 yrs −2.7%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.2	−59.0%	Cons. · Japanese GAAP
FYE Mar 2019	3.0	+36.1%	Cons. · Japanese GAAP
FYE Mar 2020	2.5	−16.8%	Cons. · Japanese GAAP
FYE Mar 2021	4.4	+78.5%	Cons. · Japanese GAAP
FYE Mar 2022	-16.4	−471.2%	Cons. · Japanese GAAP
FYE Mar 2023	-9.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	18.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-0.3	−101.8%	Cons. · Japanese GAAP
FYE Mar 2026	4.2	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 9.0%

Average · 10 yrs 6.5%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.2	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2019	6.4	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2020	5.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	9.9	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2022	-0.5	−10.4pp	Cons. · Japanese GAAP
FYE Mar 2023	1.8	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2024	14.9	+13.0pp	Cons. · Japanese GAAP
FYE Mar 2025	6.4	−8.5pp	Cons. · Japanese GAAP
FYE Mar 2026	9.0	+2.6pp	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 -¥48bn

Average · 10 yrs -¥42bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-35.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-38.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-37.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-35.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-33.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-43.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-54.1	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-42.7	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-48.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-48.3	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 ¥72bn

Change · 10 yrs +¥39bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	33.0	n/a
FYE Mar 2018	45.1	n/a
FYE Mar 2019	38.9	n/a
FYE Mar 2020	26.1	n/a
FYE Mar 2021	31.8	n/a
FYE Mar 2022	43.6	n/a
FYE Mar 2023	65.9	n/a
FYE Mar 2024	74.4	n/a
FYE Mar 2025	64.5	n/a
FYE Mar 2026	71.9	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 4,637¥

Change · 10 yrs +4,424¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	213	n/a
FYE Mar 2018	291	n/a
FYE Mar 2019	251	n/a
FYE Mar 2020	1,684	n/a
FYE Mar 2021	2,055	n/a
FYE Mar 2022	2,812	n/a
FYE Mar 2023	4,253	n/a
FYE Mar 2024	4,799	n/a
FYE Mar 2025	4,163	n/a
FYE Mar 2026	4,637	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 15,497,000shares

Change · 10 yrs −139,476,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	154,973,000	Parent
FYE Mar 2018	154,973,000	Parent
FYE Mar 2019	154,973,000	Parent
FYE Mar 2020	15,497,000	Parent
FYE Mar 2021	15,497,000	Parent
FYE Mar 2022	15,497,000	Parent
FYE Mar 2023	15,497,000	Parent
FYE Mar 2024	15,497,000	Parent
FYE Mar 2025	15,497,000	Parent
FYE Mar 2026	15,497,000	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 519.86¥

Change · 10 yrs +367.96¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	151.90	Cons.
FYE Mar 2018	295.85	Cons.
FYE Mar 2019	497.02	Cons.
FYE Mar 2020	350.09	Cons.
FYE Mar 2021	247.85	Cons.
FYE Mar 2022	561.25	Cons.
FYE Mar 2023	1,316.79	Cons.
FYE Mar 2024	933.64	Cons.
FYE Mar 2025	819.46	Cons.
FYE Mar 2026	519.86	Cons.

Definition: Net profit for each share
Formula: Net profit ÷ average shares outstanding
Source: Securities report (XBRL)

BPS book value per share

FYE Mar 2026 6,524.36¥

Change · 10 yrs +6,286.36¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	238.00	Cons. · Japanese GAAP
FYE Mar 2018	269.88	Cons. · Japanese GAAP
FYE Mar 2019	309.31	Cons. · Japanese GAAP
FYE Mar 2020	3,299.09	Cons. · Japanese GAAP
FYE Mar 2021	3,556.95	Cons. · Japanese GAAP
FYE Mar 2022	4,011.36	Cons. · Japanese GAAP
FYE Mar 2023	5,137.38	Cons. · Japanese GAAP
FYE Mar 2024	5,777.44	Cons. · Japanese GAAP
FYE Mar 2025	6,221.46	Cons. · Japanese GAAP
FYE Mar 2026	6,524.36	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 8.92×

Average · 10 yrs 6.94×

Fiscal year	PER ×	Basis
FYE Mar 2017	14.02	Cons.
FYE Mar 2018	9.84	Cons.
FYE Mar 2019	5.05	Cons.
FYE Mar 2020	4.81	Cons.
FYE Mar 2021	8.29	Cons.
FYE Mar 2022	5.01	Cons.
FYE Mar 2023	3.23	Cons.
FYE Mar 2024	5.14	Cons.
FYE Mar 2025	5.08	Cons.
FYE Mar 2026	8.92	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 0.64×

Average · 10 yrs 0.74×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.89	Cons.
FYE Mar 2018	1.08	Cons.
FYE Mar 2019	0.81	Cons.
FYE Mar 2020	0.50	Cons.
FYE Mar 2021	0.57	Cons.
FYE Mar 2022	0.68	Cons.
FYE Mar 2023	0.80	Cons.
FYE Mar 2024	0.78	Cons.
FYE Mar 2025	0.61	Cons.
FYE Mar 2026	0.64	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 2,093people

Change · 10 yrs +75 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	2,018	n/a	Cons.
FYE Mar 2018	2,012	−0.3%	Cons.
FYE Mar 2019	2,039	+1.3%	Cons.
FYE Mar 2020	2,029	−0.5%	Cons.
FYE Mar 2021	2,077	+2.4%	Cons.
FYE Mar 2022	2,080	+0.1%	Cons.
FYE Mar 2023	2,091	+0.5%	Cons.
FYE Mar 2024	2,079	−0.6%	Cons.
FYE Mar 2025	2,095	+0.8%	Cons.
FYE Mar 2026	2,093	−0.1%	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 1,166people

Change · 10 yrs +102 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,064	n/a	Parent
FYE Mar 2018	1,061	−0.3%	Parent
FYE Mar 2019	1,072	+1.0%	Parent
FYE Mar 2020	1,057	−1.4%	Parent
FYE Mar 2021	1,094	+3.5%	Parent
FYE Mar 2022	1,106	+1.1%	Parent
FYE Mar 2023	1,156	+4.5%	Parent
FYE Mar 2024	1,151	−0.4%	Parent
FYE Mar 2025	1,171	+1.7%	Parent
FYE Mar 2026	1,166	−0.4%	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 780万円

Change · 8 yrs +32万円

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	748	n/a	Parent
FYE Mar 2020	674	−9.9%	Parent
FYE Mar 2021	660	−2.1%	Parent
FYE Mar 2022	659	−0.2%	Parent
FYE Mar 2023	681	+3.4%	Parent
FYE Mar 2024	737	+8.2%	Parent
FYE Mar 2025	719	−2.4%	Parent
FYE Mar 2026	780	+8.5%	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 44.1years

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	41.3	n/a	Parent
FYE Mar 2020	41.6	+0.7%	Parent
FYE Mar 2021	42.2	+1.4%	Parent
FYE Mar 2022	42.3	+0.2%	Parent
FYE Mar 2023	42.9	+1.4%	Parent
FYE Mar 2024	43.4	+1.2%	Parent
FYE Mar 2025	43.8	+0.9%	Parent
FYE Mar 2026	44.1	+0.7%	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 20.6years

Change · 8 yrs +1.6 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	19.0	n/a	Parent
FYE Mar 2020	19.7	+3.7%	Parent
FYE Mar 2021	19.4	−1.5%	Parent
FYE Mar 2022	19.7	+1.5%	Parent
FYE Mar 2023	19.7	−0.0%	Parent
FYE Mar 2024	20.1	+2.0%	Parent
FYE Mar 2025	20.2	+0.5%	Parent
FYE Mar 2026	20.6	+2.0%	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)

Revenue per employee

FYE Mar 2026 ¥72.1m

Change · 10 yrs +¥16.1m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	56.0	n/a	Cons.
FYE Mar 2018	59.2	+5.7%	Cons.
FYE Mar 2019	70.5	+19.1%	Cons.
FYE Mar 2020	67.2	−4.7%	Cons.
FYE Mar 2021	54.2	−19.4%	Cons.
FYE Mar 2022	71.6	+32.2%	Cons.
FYE Mar 2023	95.3	+33.1%	Cons.
FYE Mar 2024	86.7	−9.0%	Cons.
FYE Mar 2025	82.1	−5.3%	Cons.
FYE Mar 2026	72.1	−12.3%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.2m

Change · 10 yrs +¥3.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons.
FYE Mar 2018	2.1	−3.9%	Cons.
FYE Mar 2019	4.6	+123.6%	Cons.
FYE Mar 2020	3.9	−16.6%	Cons.
FYE Mar 2021	3.0	−23.4%	Cons.
FYE Mar 2022	6.7	+126.9%	Cons.
FYE Mar 2023	14.0	+108.4%	Cons.
FYE Mar 2024	9.6	−31.2%	Cons.
FYE Mar 2025	8.1	−15.9%	Cons.
FYE Mar 2026	5.2	−35.3%	Cons.

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

Disclaimer

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

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

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