Financials

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

FYE Mar 2026 · Revenue¥275bnYoY +10.6%

FYE Mar 2026 · Operating profit¥25bnYoY +10.9%

FYE Mar 2026 · Net profit¥19bnYoY +7.1%

FYE Mar 2026 · Equity ratio49.4%YoY +0.9pp

FYE Mar 2026 · Group employees5,419YoY +136

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥212bn	n/a	¥12bn	n/a	5.8%	-¥5.0bn	Sato Ikuo	Impairment of <span class="en-history_money" data-yen="35400000000" data-year="2016">$325.2M (¥35bn)</span> on the fixed assets of the Muroran works
FYE Mar 2018Consolidated	¥212bn	−0.4%	¥21bn	+66.8%	9.7%	¥11bn	Sato Ikuo	Consolidated net loss of <span class="en-history_money" data-yen="5000000000" data-year="2017">$44.6M (¥5bn)</span> — a third consecutive year in the red
FYE Mar 2019Consolidated	¥220bn	+4.0%	¥24bn	+18.0%	11.0%	¥20bn	Miyauchi Naotaka	—
FYE Mar 2020Consolidated	¥218bn	−1.2%	¥19bn	−23.0%	8.6%	¥9.3bn	Miyauchi Naotaka	—
FYE Mar 2021Consolidated	¥198bn	−9.0%	¥10bn	−45.3%	5.2%	¥6.9bn	Miyauchi Naotaka	Materials and engineering business transferred to JSW MEC by company split
FYE Mar 2022Consolidated	¥214bn	+8.0%	¥15bn	+51.2%	7.2%	¥14bn	Miyauchi Naotaka	—
FYE Mar 2023Consolidated	¥239bn	+11.7%	¥14bn	−10.4%	5.8%	¥12bn	Miyauchi Naotaka	—
FYE Mar 2024Consolidated	¥253bn	+5.8%	¥18bn	+30.1%	7.1%	¥14bn	Matsuo Toshio	—
FYE Mar 2025Consolidated	¥249bn	−1.6%	¥23bn	+26.7%	9.2%	¥18bn	Matsuo Toshio	—
FYE Mar 2026Consolidated	¥275bn	+10.6%	¥25bn	+10.9%	9.2%	¥19bn	Matsuo Toshio	—

How it compares

Sumitomo Heavy Industries¥1.07tnFY2025Operating margin 4.8%

Japan Steel Works¥275bnFY2025Operating margin 9.2%

NIIGATA ENGINEERING CO., LTD.Delisted 2002

Kisha SeizoDelisted 1972

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 ¥275bn

CAGR · 10 yrs +2.9%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	212	n/a	Cons. · Japanese GAAP
FYE Mar 2018	212	−0.4%	Cons. · Japanese GAAP
FYE Mar 2019	220	+4.0%	Cons. · Japanese GAAP
FYE Mar 2020	218	−1.2%	Cons. · Japanese GAAP
FYE Mar 2021	198	−9.0%	Cons. · Japanese GAAP
FYE Mar 2022	214	+8.0%	Cons. · Japanese GAAP
FYE Mar 2023	239	+11.7%	Cons. · Japanese GAAP
FYE Mar 2024	253	+5.8%	Cons. · Japanese GAAP
FYE Mar 2025	249	−1.6%	Cons. · Japanese GAAP
FYE Mar 2026	275	+10.6%	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 ¥211bn

CAGR · 10 yrs +2.4%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	171	n/a	Cons. · Japanese GAAP
FYE Mar 2018	163	−4.5%	Cons. · Japanese GAAP
FYE Mar 2019	167	+2.2%	Cons. · Japanese GAAP
FYE Mar 2020	167	+0.4%	Cons. · Japanese GAAP
FYE Mar 2021	156	−6.9%	Cons. · Japanese GAAP
FYE Mar 2022	166	+6.6%	Cons. · Japanese GAAP
FYE Mar 2023	189	+14.1%	Cons. · Japanese GAAP
FYE Mar 2024	196	+3.4%	Cons. · Japanese GAAP
FYE Mar 2025	188	−4.2%	Cons. · Japanese GAAP
FYE Mar 2026	211	+12.3%	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 ¥64bn

CAGR · 10 yrs +4.9%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	41.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	48.7	+16.6%	Cons. · Japanese GAAP
FYE Mar 2019	53.5	+9.9%	Cons. · Japanese GAAP
FYE Mar 2020	50.3	−6.1%	Cons. · Japanese GAAP
FYE Mar 2021	42.3	−15.9%	Cons. · Japanese GAAP
FYE Mar 2022	47.8	+13.1%	Cons. · Japanese GAAP
FYE Mar 2023	49.4	+3.3%	Cons. · Japanese GAAP
FYE Mar 2024	56.8	+15.1%	Cons. · Japanese GAAP
FYE Mar 2025	61.0	+7.4%	Cons. · Japanese GAAP
FYE Mar 2026	64.3	+5.4%	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 ¥39bn

CAGR · 10 yrs +3.2%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	29.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	28.1	−4.4%	Cons. · Japanese GAAP
FYE Mar 2019	29.2	+4.0%	Cons. · Japanese GAAP
FYE Mar 2020	31.6	+8.0%	Cons. · Japanese GAAP
FYE Mar 2021	32.1	+1.6%	Cons. · Japanese GAAP
FYE Mar 2022	32.4	+0.9%	Cons. · Japanese GAAP
FYE Mar 2023	35.5	+9.8%	Cons. · Japanese GAAP
FYE Mar 2024	38.8	+9.2%	Cons. · Japanese GAAP
FYE Mar 2025	38.2	−1.6%	Cons. · Japanese GAAP
FYE Mar 2026	39.0	+2.1%	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 ¥25bn

CAGR · 10 yrs +8.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	12.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.6	+66.8%	Cons. · Japanese GAAP
FYE Mar 2019	24.3	+18.0%	Cons. · Japanese GAAP
FYE Mar 2020	18.7	−23.0%	Cons. · Japanese GAAP
FYE Mar 2021	10.2	−45.3%	Cons. · Japanese GAAP
FYE Mar 2022	15.5	+51.2%	Cons. · Japanese GAAP
FYE Mar 2023	13.8	−10.4%	Cons. · Japanese GAAP
FYE Mar 2024	18.0	+30.1%	Cons. · Japanese GAAP
FYE Mar 2025	22.8	+26.7%	Cons. · Japanese GAAP
FYE Mar 2026	25.3	+10.9%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥2.3bn

CAGR · 10 yrs +6.6%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.1	+139.1%	Cons. · Japanese GAAP
FYE Mar 2019	4.2	+34.2%	Cons. · Japanese GAAP
FYE Mar 2020	2.6	−38.9%	Cons. · Japanese GAAP
FYE Mar 2021	1.7	−35.4%	Cons. · Japanese GAAP
FYE Mar 2022	1.9	+12.5%	Cons. · Japanese GAAP
FYE Mar 2023	2.0	+9.4%	Cons. · Japanese GAAP
FYE Mar 2024	2.6	+25.3%	Cons. · Japanese GAAP
FYE Mar 2025	1.6	−36.6%	Cons. · Japanese GAAP
FYE Mar 2026	2.3	+43.2%	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 ¥1.6bn

CAGR · 10 yrs +0.2%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.6	+3.4%	Cons. · Japanese GAAP
FYE Mar 2019	0.6	−64.5%	Cons. · Japanese GAAP
FYE Mar 2020	1.4	+141.9%	Cons. · Japanese GAAP
FYE Mar 2021	1.2	−15.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.6	−52.3%	Cons. · Japanese GAAP
FYE Mar 2023	0.9	+67.6%	Cons. · Japanese GAAP
FYE Mar 2024	0.6	−32.7%	Cons. · Japanese GAAP
FYE Mar 2025	0.9	+51.9%	Cons. · Japanese GAAP
FYE Mar 2026	1.6	+65.9%	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 ¥26bn

CAGR · 10 yrs +8.9%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	12.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.1	+82.6%	Cons. · Japanese GAAP
FYE Mar 2019	27.9	+26.3%	Cons. · Japanese GAAP
FYE Mar 2020	19.9	−28.7%	Cons. · Japanese GAAP
FYE Mar 2021	10.7	−46.1%	Cons. · Japanese GAAP
FYE Mar 2022	16.8	+56.4%	Cons. · Japanese GAAP
FYE Mar 2023	15.0	−10.8%	Cons. · Japanese GAAP
FYE Mar 2024	19.9	+33.3%	Cons. · Japanese GAAP
FYE Mar 2025	23.5	+17.8%	Cons. · Japanese GAAP
FYE Mar 2026	26.1	+10.9%	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 ¥3.1bn

CAGR · 10 yrs +47.8%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	+786.0%	Cons. · Japanese GAAP
FYE Mar 2019	4.3	+422.9%	Cons. · Japanese GAAP
FYE Mar 2020	2.0	−52.8%	Cons. · Japanese GAAP
FYE Mar 2021	2.8	+36.5%	Cons. · Japanese GAAP
FYE Mar 2022	3.5	+26.0%	Cons. · Japanese GAAP
FYE Mar 2023	5.8	+66.7%	Cons. · Japanese GAAP
FYE Mar 2024	1.7	−70.3%	Cons. · Japanese GAAP
FYE Mar 2025	1.4	−16.9%	Cons. · Japanese GAAP
FYE Mar 2026	3.1	+117.3%	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 ¥1.4bn

CAGR · 6 yrs −29.5%

Fiscal year	Extraordinary loss ¥ bn	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	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	0.5	−93.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.5	−1.1%	Cons. · Japanese GAAP
FYE Mar 2023	2.3	+323.0%	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	1.4	−16.9%	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 ¥19bn

Average · 10 yrs ¥12bn

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	-5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.7	n/a	Cons. · Japanese GAAP
FYE Mar 2019	20.0	+86.4%	Cons. · Japanese GAAP
FYE Mar 2020	9.3	−53.4%	Cons. · Japanese GAAP
FYE Mar 2021	6.9	−26.0%	Cons. · Japanese GAAP
FYE Mar 2022	13.9	+102.4%	Cons. · Japanese GAAP
FYE Mar 2023	12.0	−14.2%	Cons. · Japanese GAAP
FYE Mar 2024	14.3	+19.2%	Cons. · Japanese GAAP
FYE Mar 2025	18.0	+25.8%	Cons. · Japanese GAAP
FYE Mar 2026	19.2	+7.1%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 23.4%

Average · 10 yrs 22.5%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	19.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.0	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2019	24.3	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	23.1	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	21.4	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	22.4	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	20.7	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	22.5	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	24.5	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	23.4	−1.2pp	Cons. · Japanese GAAP

Definition: The share of revenue left after the cost of sales
Formula: Gross profit ÷ revenue
Source: Securities report (XBRL)

Operating margin

FYE Mar 2026 9.2%

Average · 10 yrs 7.9%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.7	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2019	11.0	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	8.6	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2021	5.2	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2022	7.2	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2023	5.8	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	7.1	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	9.2	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	9.2	−0.0pp	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 9.5%

Average · 10 yrs 8.4%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.4	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2019	12.7	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2020	9.2	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2021	5.4	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2022	7.8	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	6.3	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2024	7.9	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	9.5	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	9.5	−0.0pp	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 7.0%

Average · 10 yrs 5.1%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	-2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	+7.4pp	Cons. · Japanese GAAP
FYE Mar 2019	9.1	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2020	4.3	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2021	3.5	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	6.5	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2023	5.0	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	5.7	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	7.2	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	7.0	−0.2pp	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 76.6%

Average · 10 yrs 77.5%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	80.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	77.0	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2019	75.7	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	76.9	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	78.6	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	77.6	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	79.3	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	77.5	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	75.5	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	76.6	+1.2pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by the cost of sales
Formula: Cost of sales ÷ revenue
Source: Securities report (XBRL)

SG&A ratio

FYE Mar 2026 14.2%

Average · 10 yrs 14.6%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	13.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	13.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	14.5	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	16.2	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	15.1	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2023	14.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	15.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	15.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	14.2	−1.2pp	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 ¥430bn

CAGR · 10 yrs +5.1%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	275	n/a	Cons. · Japanese GAAP
FYE Mar 2018	297	+8.0%	Cons. · Japanese GAAP
FYE Mar 2019	305	+2.7%	Cons. · Japanese GAAP
FYE Mar 2020	297	−2.7%	Cons. · Japanese GAAP
FYE Mar 2021	316	+6.4%	Cons. · Japanese GAAP
FYE Mar 2022	340	+7.4%	Cons. · Japanese GAAP
FYE Mar 2023	348	+2.5%	Cons. · Japanese GAAP
FYE Mar 2024	367	+5.3%	Cons. · Japanese GAAP
FYE Mar 2025	398	+8.5%	Cons. · Japanese GAAP
FYE Mar 2026	430	+8.0%	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 ¥212bn

CAGR · 10 yrs +8.0%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	106	n/a	Cons. · Japanese GAAP
FYE Mar 2018	117	+10.1%	Cons. · Japanese GAAP
FYE Mar 2019	128	+9.7%	Cons. · Japanese GAAP
FYE Mar 2020	131	+1.9%	Cons. · Japanese GAAP
FYE Mar 2021	140	+7.3%	Cons. · Japanese GAAP
FYE Mar 2022	149	+6.4%	Cons. · Japanese GAAP
FYE Mar 2023	159	+6.5%	Cons. · Japanese GAAP
FYE Mar 2024	177	+11.2%	Cons. · Japanese GAAP
FYE Mar 2025	193	+9.2%	Cons. · Japanese GAAP
FYE Mar 2026	212	+9.9%	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 ¥86bn

CAGR · 10 yrs +7.0%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	46.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	51.3	+9.5%	Cons. · Japanese GAAP
FYE Mar 2019	51.3	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	45.7	−10.8%	Cons. · Japanese GAAP
FYE Mar 2021	54.9	+20.1%	Cons. · Japanese GAAP
FYE Mar 2022	41.6	−24.3%	Cons. · Japanese GAAP
FYE Mar 2023	40.0	−3.7%	Cons. · Japanese GAAP
FYE Mar 2024	37.6	−6.0%	Cons. · Japanese GAAP
FYE Mar 2025	31.9	−15.2%	Cons. · Japanese GAAP
FYE Mar 2026	85.8	+168.9%	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 ¥12bn

CAGR · 10 yrs −0.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	11.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.0	+0.8%	Cons. · Japanese GAAP
FYE Mar 2019	12.1	+0.7%	Cons. · Japanese GAAP
FYE Mar 2020	10.0	−16.9%	Cons. · Japanese GAAP
FYE Mar 2021	10.1	+1.0%	Cons. · Japanese GAAP
FYE Mar 2022	10.4	+2.6%	Cons. · Japanese GAAP
FYE Mar 2023	10.9	+4.7%	Cons. · Japanese GAAP
FYE Mar 2024	12.4	+13.3%	Cons. · Japanese GAAP
FYE Mar 2025	12.5	+0.9%	Cons. · Japanese GAAP
FYE Mar 2026	11.7	−6.3%	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 ¥74bn

CAGR · 10 yrs +7.4%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	39.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.4	+0.7%	Cons. · Japanese GAAP
FYE Mar 2019	39.4	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	40.8	+3.7%	Cons. · Japanese GAAP
FYE Mar 2021	46.7	+14.4%	Cons. · Japanese GAAP
FYE Mar 2022	47.1	+0.7%	Cons. · Japanese GAAP
FYE Mar 2023	31.6	−32.8%	Cons. · Japanese GAAP
FYE Mar 2024	30.1	−4.8%	Cons. · Japanese GAAP
FYE Mar 2025	29.7	−1.3%	Cons. · Japanese GAAP
FYE Mar 2026	74.1	+149.3%	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 ¥3.7bn

CAGR · 10 yrs +9.5%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	1.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.8	+7.2%	Cons. · Japanese GAAP
FYE Mar 2019	2.2	+25.5%	Cons. · Japanese GAAP
FYE Mar 2020	3.0	+33.3%	Cons. · Japanese GAAP
FYE Mar 2021	2.4	−19.9%	Cons. · Japanese GAAP
FYE Mar 2022	2.0	−17.9%	Cons. · Japanese GAAP
FYE Mar 2023	1.5	−21.2%	Cons. · Japanese GAAP
FYE Mar 2024	1.7	+7.9%	Cons. · Japanese GAAP
FYE Mar 2025	2.2	+35.1%	Cons. · Japanese GAAP
FYE Mar 2026	3.7	+66.7%	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 n/a

CAGR · 8 yrs −26.0%

Fiscal year	Goodwill ¥ m	YoY	Basis
FYE Mar 2017	657	n/a	Cons. · Japanese GAAP
FYE Mar 2018	509	−22.5%	Cons. · Japanese GAAP
FYE Mar 2019	268	−47.3%	Cons. · Japanese GAAP
FYE Mar 2020	782	+191.8%	Cons. · Japanese GAAP
FYE Mar 2021	573	−26.7%	Cons. · Japanese GAAP
FYE Mar 2022	407	−29.0%	Cons. · Japanese GAAP
FYE Mar 2023	242	−40.5%	Cons. · Japanese GAAP
FYE Mar 2024	80.0	−66.9%	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	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 49.4%

Average · 10 yrs 44.4%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	38.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.4	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	42.0	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2020	44.0	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2021	44.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	44.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	45.7	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	48.3	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2025	48.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	49.4	+0.9pp	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 40.4%

Average · 10 yrs 33.3%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	44.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	43.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	39.9	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2020	35.0	−5.0pp	Cons. · Japanese GAAP
FYE Mar 2021	39.1	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2022	27.8	−11.3pp	Cons. · Japanese GAAP
FYE Mar 2023	25.2	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2024	21.3	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2025	16.5	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2026	40.4	+23.9pp	Cons. · Japanese GAAP

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

ROE return on equity

FYE Mar 2026 9.1%

Average · 10 yrs 7.5%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	-4.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.2	+13.8pp	Cons. · Japanese GAAP
FYE Mar 2019	15.5	+6.4pp	Cons. · Japanese GAAP
FYE Mar 2020	7.1	−8.4pp	Cons. · Japanese GAAP
FYE Mar 2021	4.9	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2022	9.3	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2023	7.5	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2024	8.1	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	9.3	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	9.1	−0.2pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 4.5%

Average · 10 yrs 3.4%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	-1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.6	+5.4pp	Cons. · Japanese GAAP
FYE Mar 2019	6.5	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2020	3.1	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2021	2.2	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	4.1	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2023	3.4	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	3.9	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	4.5	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	4.5	−0.0pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.64×

CAGR · 10 yrs −2.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.77	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.71	−7.8%	Cons. · Japanese GAAP
FYE Mar 2019	0.72	+1.2%	Cons. · Japanese GAAP
FYE Mar 2020	0.73	+1.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.63	−14.4%	Cons. · Japanese GAAP
FYE Mar 2022	0.63	+0.5%	Cons. · Japanese GAAP
FYE Mar 2023	0.69	+8.9%	Cons. · Japanese GAAP
FYE Mar 2024	0.69	+0.5%	Cons. · Japanese GAAP
FYE Mar 2025	0.62	−9.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.64	+2.4%	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 -¥17bn

Average · 10 yrs ¥9.5bn

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	12.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.7	+122.2%	Cons. · Japanese GAAP
FYE Mar 2019	1.1	−95.9%	Cons. · Japanese GAAP
FYE Mar 2020	19.0	+1636.2%	Cons. · Japanese GAAP
FYE Mar 2021	14.7	−22.4%	Cons. · Japanese GAAP
FYE Mar 2022	22.3	+51.7%	Cons. · Japanese GAAP
FYE Mar 2023	-1.0	−104.4%	Cons. · Japanese GAAP
FYE Mar 2024	21.7	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-4.6	−121.0%	Cons. · Japanese GAAP
FYE Mar 2026	-16.9	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 -¥17bn

Average · 10 yrs -¥7.5bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-13.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-5.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-13.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-6.8	−822.4%	Cons. · Japanese GAAP
FYE Mar 2025	-12.3	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-17.1	n/a	Cons. · Japanese GAAP

Definition: Cash spent on, or released by, investment
Formula: Cash flow from investing activities
Source: Securities report (XBRL)

Financing cash flow

FYE Mar 2026 ¥36bn

Average · 10 yrs -¥0.8bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-2.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-3.8	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-6.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-2.9	−203.4%	Cons. · Japanese GAAP
FYE Mar 2023	-20.1	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-4.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	36.1	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 ¥77bn

CAGR · 10 yrs +3.1%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	58.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	77.9	+32.7%	Cons. · Japanese GAAP
FYE Mar 2019	73.8	−5.2%	Cons. · Japanese GAAP
FYE Mar 2020	74.5	+0.9%	Cons. · Japanese GAAP
FYE Mar 2021	88.8	+19.2%	Cons. · Japanese GAAP
FYE Mar 2022	106	+19.2%	Cons. · Japanese GAAP
FYE Mar 2023	86.4	−18.3%	Cons. · Japanese GAAP
FYE Mar 2024	96.9	+12.2%	Cons. · Japanese GAAP
FYE Mar 2025	75.2	−22.4%	Cons. · Japanese GAAP
FYE Mar 2026	77.4	+3.0%	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 -¥34bn

Average · 10 yrs ¥2.0bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-0.2	−101.1%	Cons. · Japanese GAAP
FYE Mar 2020	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	11.5	+98.2%	Cons. · Japanese GAAP
FYE Mar 2022	19.3	+68.7%	Cons. · Japanese GAAP
FYE Mar 2023	-0.0	−100.2%	Cons. · Japanese GAAP
FYE Mar 2024	14.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-16.8	−213.3%	Cons. · Japanese GAAP
FYE Mar 2026	-34.0	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 -6.1%

Average · 10 yrs 4.6%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.6	+7.0pp	Cons. · Japanese GAAP
FYE Mar 2019	0.5	−12.1pp	Cons. · Japanese GAAP
FYE Mar 2020	8.7	+8.2pp	Cons. · Japanese GAAP
FYE Mar 2021	7.4	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	10.4	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2023	-0.4	−10.9pp	Cons. · Japanese GAAP
FYE Mar 2024	8.6	+9.0pp	Cons. · Japanese GAAP
FYE Mar 2025	-1.8	−10.4pp	Cons. · Japanese GAAP
FYE Mar 2026	-6.1	−4.3pp	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 -¥8.4bn

Average · 10 yrs ¥33bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	11.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.6	+124.3%	Cons. · Japanese GAAP
FYE Mar 2019	22.5	−15.3%	Cons. · Japanese GAAP
FYE Mar 2020	28.7	+27.6%	Cons. · Japanese GAAP
FYE Mar 2021	33.8	+17.7%	Cons. · Japanese GAAP
FYE Mar 2022	64.2	+89.9%	Cons. · Japanese GAAP
FYE Mar 2023	46.4	−27.8%	Cons. · Japanese GAAP
FYE Mar 2024	59.3	+27.8%	Cons. · Japanese GAAP
FYE Mar 2025	43.2	−27.1%	Cons. · Japanese GAAP
FYE Mar 2026	-8.4	−119.5%	Cons. · Japanese GAAP

Definition: Cash on hand once the borrowings are paid off
Formula: Cash and equivalents − interest-bearing debt
Source: Securities report (XBRL)

Shares and share price Shares outstanding, price, market capitalisation and the valuation multiples

Market capitalisation

FYE Mar 2026 ¥623bn

Change · 9 yrs +¥371bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	n/a	n/a
FYE Mar 2018	252	n/a
FYE Mar 2019	151	n/a
FYE Mar 2020	97.3	n/a
FYE Mar 2021	195	n/a
FYE Mar 2022	284	n/a
FYE Mar 2023	184	n/a
FYE Mar 2024	252	n/a
FYE Mar 2025	390	n/a
FYE Mar 2026	623	n/a

Definition: What the market says the company is worth
Formula: Year-end share price × shares outstanding
Source: Securities report (XBRL)

Share price year-end close

FYE Mar 2026 8,372¥

Change · 9 yrs +4,977¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	n/a	n/a
FYE Mar 2018	3,395	n/a
FYE Mar 2019	2,038	n/a
FYE Mar 2020	1,308	n/a
FYE Mar 2021	2,627	n/a
FYE Mar 2022	3,819	n/a
FYE Mar 2023	2,479	n/a
FYE Mar 2024	3,388	n/a
FYE Mar 2025	5,237	n/a
FYE Mar 2026	8,372	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 74,415,909shares

Change · 10 yrs +123,302 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	74,292,607	Parent
FYE Mar 2018	74,292,607	Parent
FYE Mar 2019	74,309,108	Parent
FYE Mar 2020	74,332,356	Parent
FYE Mar 2021	74,359,182	Parent
FYE Mar 2022	74,373,265	Parent
FYE Mar 2023	74,387,779	Parent
FYE Mar 2024	74,399,910	Parent
FYE Mar 2025	74,408,985	Parent
FYE Mar 2026	74,415,909	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 261.38¥

Change · 10 yrs +328.99¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	-67.61	Cons.
FYE Mar 2018	145.77	Cons.
FYE Mar 2019	271.69	Cons.
FYE Mar 2020	126.66	Cons.
FYE Mar 2021	93.76	Cons.
FYE Mar 2022	189.63	Cons.
FYE Mar 2023	162.75	Cons.
FYE Mar 2024	194.02	Cons.
FYE Mar 2025	244.03	Cons.
FYE Mar 2026	261.38	Cons.

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

BPS book value per share

FYE Mar 2026 2,854.64¥

Change · 10 yrs +1,423.82¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,430.83	Cons. · Japanese GAAP
FYE Mar 2018	1,575.27	Cons. · Japanese GAAP
FYE Mar 2019	1,728.03	Cons. · Japanese GAAP
FYE Mar 2020	1,759.72	Cons. · Japanese GAAP
FYE Mar 2021	1,888.12	Cons. · Japanese GAAP
FYE Mar 2022	2,009.32	Cons. · Japanese GAAP
FYE Mar 2023	2,138.79	Cons. · Japanese GAAP
FYE Mar 2024	2,378.82	Cons. · Japanese GAAP
FYE Mar 2025	2,596.73	Cons. · Japanese GAAP
FYE Mar 2026	2,854.64	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 32.03×

Average · 9 yrs 19.50×

Fiscal year	PER ×	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	23.29	Cons.
FYE Mar 2019	7.50	Cons.
FYE Mar 2020	10.33	Cons.
FYE Mar 2021	28.02	Cons.
FYE Mar 2022	20.14	Cons.
FYE Mar 2023	15.23	Cons.
FYE Mar 2024	17.46	Cons.
FYE Mar 2025	21.46	Cons.
FYE Mar 2026	32.03	Cons.

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

PBR price-to-book ratio

FYE Mar 2026 2.90×

Average · 9 yrs 1.64×

Fiscal year	PBR ×	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	2.13	Cons.
FYE Mar 2019	1.17	Cons.
FYE Mar 2020	0.74	Cons.
FYE Mar 2021	1.38	Cons.
FYE Mar 2022	1.88	Cons.
FYE Mar 2023	1.15	Cons.
FYE Mar 2024	1.41	Cons.
FYE Mar 2025	1.99	Cons.
FYE Mar 2026	2.90	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 5,419people

Change · 10 yrs +180 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	5,239	n/a	Cons.
FYE Mar 2018	5,156	−1.6%	Cons.
FYE Mar 2019	5,174	+0.3%	Cons.
FYE Mar 2020	5,334	+3.1%	Cons.
FYE Mar 2021	5,442	+2.0%	Cons.
FYE Mar 2022	5,329	−2.1%	Cons.
FYE Mar 2023	4,966	−6.8%	Cons.
FYE Mar 2024	5,115	+3.0%	Cons.
FYE Mar 2025	5,283	+3.3%	Cons.
FYE Mar 2026	5,419	+2.6%	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 2,028people

Change · 10 yrs −238 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	2,266	n/a	Parent
FYE Mar 2018	2,248	−0.8%	Parent
FYE Mar 2019	2,222	−1.2%	Parent
FYE Mar 2020	2,342	+5.4%	Parent
FYE Mar 2021	1,846	−21.2%	Parent
FYE Mar 2022	1,767	−4.3%	Parent
FYE Mar 2023	1,758	−0.5%	Parent
FYE Mar 2024	1,901	+8.1%	Parent
FYE Mar 2025	1,982	+4.3%	Parent
FYE Mar 2026	2,028	+2.3%	Parent

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

Average annual pay parent company

FYE Mar 2026 ¥7.1m

Change · 10 yrs +¥1.4m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	5.7	n/a	Parent
FYE Mar 2018	5.7	+0.7%	Parent
FYE Mar 2019	6.1	+7.1%	Parent
FYE Mar 2020	6.3	+3.2%	Parent
FYE Mar 2021	6.4	+1.4%	Parent
FYE Mar 2022	6.6	+2.4%	Parent
FYE Mar 2023	6.8	+2.7%	Parent
FYE Mar 2024	6.9	+1.4%	Parent
FYE Mar 2025	6.9	+1.1%	Parent
FYE Mar 2026	7.1	+2.9%	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 38.8years

Change · 8 yrs −0.6 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	39.4	n/a	Parent
FYE Mar 2020	39.1	−0.8%	Parent
FYE Mar 2021	39.7	+1.5%	Parent
FYE Mar 2022	39.6	−0.3%	Parent
FYE Mar 2023	39.3	−0.8%	Parent
FYE Mar 2024	39.0	−0.8%	Parent
FYE Mar 2025	38.8	−0.5%	Parent
FYE Mar 2026	38.8	−0.0%	Parent

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

Average length of service

FYE Mar 2026 12.6years

Change · 10 yrs −3.0 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	15.6	n/a	Parent
FYE Mar 2018	15.0	−3.8%	Parent
FYE Mar 2019	15.6	+4.0%	Parent
FYE Mar 2020	14.4	−7.7%	Parent
FYE Mar 2021	13.4	−6.9%	Parent
FYE Mar 2022	13.7	+2.2%	Parent
FYE Mar 2023	12.5	−8.8%	Parent
FYE Mar 2024	12.7	+1.6%	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 681people

Change · 10 yrs −331 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	1,012	n/a	n/a
FYE Mar 2018	948	−6.3%	n/a
FYE Mar 2019	776	−18.1%	n/a
FYE Mar 2020	645	−16.9%	n/a
FYE Mar 2021	470	−27.1%	n/a
FYE Mar 2022	464	−1.3%	n/a
FYE Mar 2023	830	+78.9%	n/a
FYE Mar 2024	786	−5.3%	n/a
FYE Mar 2025	717	−8.8%	n/a
FYE Mar 2026	681	−5.0%	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 ¥50.7m

Change · 10 yrs +¥10.2m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	40.6	n/a	Cons.
FYE Mar 2018	41.1	+1.2%	Cons.
FYE Mar 2019	42.5	+3.6%	Cons.
FYE Mar 2020	40.8	−4.2%	Cons.
FYE Mar 2021	36.4	−10.8%	Cons.
FYE Mar 2022	40.1	+10.2%	Cons.
FYE Mar 2023	48.1	+19.8%	Cons.
FYE Mar 2024	49.4	+2.7%	Cons.
FYE Mar 2025	47.0	−4.7%	Cons.
FYE Mar 2026	50.7	+7.8%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥4.7m

Change · 10 yrs +¥2.3m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.4	n/a	Cons.
FYE Mar 2018	4.0	+69.4%	Cons.
FYE Mar 2019	4.7	+17.6%	Cons.
FYE Mar 2020	3.5	−25.3%	Cons.
FYE Mar 2021	1.9	−46.4%	Cons.
FYE Mar 2022	2.9	+54.4%	Cons.
FYE Mar 2023	2.8	−3.9%	Cons.
FYE Mar 2024	3.5	+26.3%	Cons.
FYE Mar 2025	4.3	+22.7%	Cons.
FYE Mar 2026	4.7	+8.1%	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

Japan Steel Works’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/5631/company.json ·/api/5631/history.json ·/api/5631/ceo.json ·/api/5631/financials.json ·/api/5631/financials/segment.json ·/api/5631/financials/pl.json ·/api/5631/financials/cf.json ·/api/5631/financials/bs.json ·/api/5631/financials/employee.json ·/api/5631/financials/stock.json ·/api/5631/financials.csv ·/api/5631/financials_history.csv

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