Financials

Dowa Holdings: FYE Mar 2026 and ten years of results (51 metrics)

FYE Mar 2026 · Revenue¥745bnYoY +9.8%

FYE Mar 2026 · Operating profit¥34bnYoY +6.1%

FYE Mar 2026 · Net profit¥62bnYoY +130.2%

FYE Mar 2026 · Equity ratio57.3%YoY −1.8pp

FYE Mar 2026 · Group employees8,355YoY +279

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥411bn	n/a	¥34bn	n/a	8.3%	¥26bn	Yamada Masao	—
FYE Mar 2018Consolidated	¥455bn	+10.8%	¥31bn	−8.9%	6.8%	¥25bn	Yamada Masao	—
FYE Mar 2019Consolidated	¥453bn	−0.4%	¥19bn	−39.7%	4.1%	¥15bn	Yamada Masao	—
FYE Mar 2020Consolidated	¥485bn	+7.1%	¥26bn	+39.0%	5.4%	¥17bn	Sekiguchi Akira	The Los Gatos zinc mine in Mexico starts up
FYE Mar 2021Consolidated	¥588bn	+21.2%	¥37bn	+44.3%	6.4%	¥22bn	Sekiguchi Akira	—
FYE Mar 2022Consolidated	¥832bn	+41.5%	¥64bn	+70.4%	7.7%	¥51bn	Sekiguchi Akira	—
FYE Mar 2023Consolidated	¥780bn	−6.2%	¥45bn	−30.1%	5.7%	¥25bn	Sekiguchi Akira	Record profit renewed on the surge in metal prices
FYE Mar 2024Consolidated	¥717bn	−8.1%	¥30bn	−32.7%	4.2%	¥28bn	Sekiguchi Akira	Environmental and recycling operations begin in Indonesia
FYE Mar 2025Consolidated	¥679bn	−5.4%	¥32bn	+7.4%	4.7%	¥27bn	Sekiguchi Akira	—
FYE Mar 2026Consolidated	¥745bn	+9.8%	¥34bn	+6.1%	4.6%	¥62bn	Sekiguchi Akira	—

How it compares

Mitsubishi Materials¥1.84tnFY2025Operating margin 3.3%Sumitomo Metal Mining¥1.74tnFY2025Operating margin 14.7%

UACJ¥1.18tnFY2025Operating margin 6.5%

JX Advanced Metals Corporation¥885bnFY2025Operating margin 19.8%

Mitsui Kinzoku¥759bnFY2025Operating margin 17.3%

Dowa Holdings¥745bnFY2025Operating margin 4.6%

Nippon Light Metal Holdings Company, Ltd.¥585bnFY2025Operating margin 4.4%

ARE Holdings¥570bnFY2025Operating margin 6.5%

FURUKAWA CO., LTD.¥211bnFY2025Operating margin 5.4%

Furuyakinzoku¥57bnFY2025Operating margin 16.6%

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 ¥745bn

CAGR · 10 yrs +6.9%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	411	n/a	Cons. · Japanese GAAP
FYE Mar 2018	455	+10.8%	Cons. · Japanese GAAP
FYE Mar 2019	453	−0.4%	Cons. · Japanese GAAP
FYE Mar 2020	485	+7.1%	Cons. · Japanese GAAP
FYE Mar 2021	588	+21.2%	Cons. · Japanese GAAP
FYE Mar 2022	832	+41.5%	Cons. · Japanese GAAP
FYE Mar 2023	780	−6.2%	Cons. · Japanese GAAP
FYE Mar 2024	717	−8.1%	Cons. · Japanese GAAP
FYE Mar 2025	679	−5.4%	Cons. · Japanese GAAP
FYE Mar 2026	745	+9.8%	Cons. · Japanese GAAP

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

Cost of sales

FYE Mar 2026 ¥655bn

CAGR · 10 yrs +7.5%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	341	n/a	Cons. · Japanese GAAP
FYE Mar 2018	388	+13.7%	Cons. · Japanese GAAP
FYE Mar 2019	396	+2.2%	Cons. · Japanese GAAP
FYE Mar 2020	422	+6.3%	Cons. · Japanese GAAP
FYE Mar 2021	512	+21.5%	Cons. · Japanese GAAP
FYE Mar 2022	725	+41.6%	Cons. · Japanese GAAP
FYE Mar 2023	689	−5.0%	Cons. · Japanese GAAP
FYE Mar 2024	636	−7.8%	Cons. · Japanese GAAP
FYE Mar 2025	592	−6.9%	Cons. · Japanese GAAP
FYE Mar 2026	655	+10.7%	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 ¥90bn

CAGR · 10 yrs +3.0%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	69.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	66.9	−3.5%	Cons. · Japanese GAAP
FYE Mar 2019	56.4	−15.7%	Cons. · Japanese GAAP
FYE Mar 2020	63.5	+12.5%	Cons. · Japanese GAAP
FYE Mar 2021	75.8	+19.4%	Cons. · Japanese GAAP
FYE Mar 2022	106	+40.3%	Cons. · Japanese GAAP
FYE Mar 2023	90.8	−14.7%	Cons. · Japanese GAAP
FYE Mar 2024	81.4	−10.3%	Cons. · Japanese GAAP
FYE Mar 2025	86.6	+6.4%	Cons. · Japanese GAAP
FYE Mar 2026	90.3	+4.2%	Cons. · Japanese GAAP

Definition: What the product or service itself earns
Formula: Revenue − cost of sales
Source: Securities report (XBRL)

SG&A selling, general and administrative expenses

FYE Mar 2026 ¥56bn

CAGR · 10 yrs +5.3%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	35.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.0	+1.8%	Cons. · Japanese GAAP
FYE Mar 2019	37.8	+5.0%	Cons. · Japanese GAAP
FYE Mar 2020	37.5	−0.6%	Cons. · Japanese GAAP
FYE Mar 2021	38.4	+2.3%	Cons. · Japanese GAAP
FYE Mar 2022	42.6	+11.0%	Cons. · Japanese GAAP
FYE Mar 2023	46.2	+8.5%	Cons. · Japanese GAAP
FYE Mar 2024	51.4	+11.3%	Cons. · Japanese GAAP
FYE Mar 2025	54.4	+5.8%	Cons. · Japanese GAAP
FYE Mar 2026	56.1	+3.1%	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 ¥34bn

CAGR · 10 yrs +0.1%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	34.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.9	−8.9%	Cons. · Japanese GAAP
FYE Mar 2019	18.7	−39.7%	Cons. · Japanese GAAP
FYE Mar 2020	26.0	+39.0%	Cons. · Japanese GAAP
FYE Mar 2021	37.5	+44.3%	Cons. · Japanese GAAP
FYE Mar 2022	63.8	+70.4%	Cons. · Japanese GAAP
FYE Mar 2023	44.6	−30.1%	Cons. · Japanese GAAP
FYE Mar 2024	30.0	−32.7%	Cons. · Japanese GAAP
FYE Mar 2025	32.2	+7.4%	Cons. · Japanese GAAP
FYE Mar 2026	34.2	+6.1%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥24bn

CAGR · 10 yrs +17.9%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.7	+39.7%	Cons. · Japanese GAAP
FYE Mar 2019	8.4	+9.4%	Cons. · Japanese GAAP
FYE Mar 2020	7.2	−14.7%	Cons. · Japanese GAAP
FYE Mar 2021	7.3	+1.9%	Cons. · Japanese GAAP
FYE Mar 2022	14.9	+103.5%	Cons. · Japanese GAAP
FYE Mar 2023	13.8	−7.5%	Cons. · Japanese GAAP
FYE Mar 2024	17.9	+29.9%	Cons. · Japanese GAAP
FYE Mar 2025	14.9	−16.7%	Cons. · Japanese GAAP
FYE Mar 2026	24.2	+62.3%	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 ¥4.1bn

CAGR · 10 yrs +3.5%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.3	−23.5%	Cons. · Japanese GAAP
FYE Mar 2019	2.8	+21.4%	Cons. · Japanese GAAP
FYE Mar 2020	4.1	+48.7%	Cons. · Japanese GAAP
FYE Mar 2021	7.6	+83.0%	Cons. · Japanese GAAP
FYE Mar 2022	2.6	−65.1%	Cons. · Japanese GAAP
FYE Mar 2023	2.9	+9.3%	Cons. · Japanese GAAP
FYE Mar 2024	3.2	+9.3%	Cons. · Japanese GAAP
FYE Mar 2025	3.5	+12.3%	Cons. · Japanese GAAP
FYE Mar 2026	4.1	+15.2%	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 ¥54bn

CAGR · 10 yrs +4.5%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	36.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.4	−0.4%	Cons. · Japanese GAAP
FYE Mar 2019	24.3	−33.1%	Cons. · Japanese GAAP
FYE Mar 2020	29.0	+19.3%	Cons. · Japanese GAAP
FYE Mar 2021	37.2	+28.3%	Cons. · Japanese GAAP
FYE Mar 2022	76.1	+104.5%	Cons. · Japanese GAAP
FYE Mar 2023	55.5	−27.0%	Cons. · Japanese GAAP
FYE Mar 2024	44.7	−19.4%	Cons. · Japanese GAAP
FYE Mar 2025	43.6	−2.6%	Cons. · Japanese GAAP
FYE Mar 2026	54.3	+24.6%	Cons. · Japanese GAAP

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

Extraordinary income

FYE Mar 2026 ¥30bn

CAGR · 10 yrs +35.9%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.4	−79.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.1	+180.1%	Cons. · Japanese GAAP
FYE Mar 2020	2.0	+91.1%	Cons. · Japanese GAAP
FYE Mar 2021	5.5	+167.7%	Cons. · Japanese GAAP
FYE Mar 2022	3.1	−43.7%	Cons. · Japanese GAAP
FYE Mar 2023	0.7	−78.5%	Cons. · Japanese GAAP
FYE Mar 2024	7.6	+1059.2%	Cons. · Japanese GAAP
FYE Mar 2025	3.4	−55.9%	Cons. · Japanese GAAP
FYE Mar 2026	29.5	+775.8%	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥62bn

CAGR · 10 yrs +10.1%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	26.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.7	−5.6%	Cons. · Japanese GAAP
FYE Mar 2019	15.0	−39.3%	Cons. · Japanese GAAP
FYE Mar 2020	17.4	+16.1%	Cons. · Japanese GAAP
FYE Mar 2021	21.8	+25.5%	Cons. · Japanese GAAP
FYE Mar 2022	51.0	+133.7%	Cons. · Japanese GAAP
FYE Mar 2023	25.0	−50.9%	Cons. · Japanese GAAP
FYE Mar 2024	27.9	+11.2%	Cons. · Japanese GAAP
FYE Mar 2025	27.1	−2.6%	Cons. · Japanese GAAP
FYE Mar 2026	62.5	+130.2%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 12.1%

Average · 10 yrs 13.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	16.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.7	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2019	12.5	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2020	13.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	12.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	12.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	11.6	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2024	11.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	12.8	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	12.1	−0.7pp	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 4.6%

Average · 10 yrs 5.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	8.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.8	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	4.1	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2020	5.4	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	6.4	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	7.7	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2023	5.7	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2024	4.2	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	4.7	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	4.6	−0.2pp	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 7.3%

Average · 10 yrs 7.1%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	8.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.0	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	5.4	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2020	6.0	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	6.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	9.1	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2023	7.1	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2024	6.2	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	6.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	7.3	+0.9pp	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 8.4%

Average · 10 yrs 4.8%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	6.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.4	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	3.3	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2020	3.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	3.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	6.1	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	3.2	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	3.9	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	4.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	8.4	+4.4pp	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 87.9%

Average · 10 yrs 86.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	83.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	85.3	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2019	87.5	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2020	86.9	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	87.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	87.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	88.4	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2024	88.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	87.2	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	87.9	+0.7pp	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 7.5%

Average · 10 yrs 7.3%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	8.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.9	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	8.3	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	7.7	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	6.5	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2022	5.1	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	5.9	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	7.2	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2025	8.0	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	7.5	−0.5pp	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 ¥794bn

CAGR · 10 yrs +7.8%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	405	n/a	Cons. · Japanese GAAP
FYE Mar 2018	457	+12.8%	Cons. · Japanese GAAP
FYE Mar 2019	495	+8.4%	Cons. · Japanese GAAP
FYE Mar 2020	512	+3.6%	Cons. · Japanese GAAP
FYE Mar 2021	598	+16.8%	Cons. · Japanese GAAP
FYE Mar 2022	657	+9.8%	Cons. · Japanese GAAP
FYE Mar 2023	655	−0.3%	Cons. · Japanese GAAP
FYE Mar 2024	633	−3.4%	Cons. · Japanese GAAP
FYE Mar 2025	674	+6.4%	Cons. · Japanese GAAP
FYE Mar 2026	794	+18.0%	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 ¥456bn

CAGR · 10 yrs +8.5%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	219	n/a	Cons. · Japanese GAAP
FYE Mar 2018	239	+8.9%	Cons. · Japanese GAAP
FYE Mar 2019	237	−0.7%	Cons. · Japanese GAAP
FYE Mar 2020	248	+4.6%	Cons. · Japanese GAAP
FYE Mar 2021	266	+7.1%	Cons. · Japanese GAAP
FYE Mar 2022	313	+18.0%	Cons. · Japanese GAAP
FYE Mar 2023	345	+10.0%	Cons. · Japanese GAAP
FYE Mar 2024	373	+8.1%	Cons. · Japanese GAAP
FYE Mar 2025	398	+6.8%	Cons. · Japanese GAAP
FYE Mar 2026	456	+14.3%	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 ¥54bn

CAGR · 10 yrs −0.8%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	57.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	74.8	+29.3%	Cons. · Japanese GAAP
FYE Mar 2019	86.2	+15.3%	Cons. · Japanese GAAP
FYE Mar 2020	90.1	+4.5%	Cons. · Japanese GAAP
FYE Mar 2021	99.0	+9.8%	Cons. · Japanese GAAP
FYE Mar 2022	68.6	−30.6%	Cons. · Japanese GAAP
FYE Mar 2023	59.8	−12.9%	Cons. · Japanese GAAP
FYE Mar 2024	46.9	−21.5%	Cons. · Japanese GAAP
FYE Mar 2025	42.3	−9.9%	Cons. · Japanese GAAP
FYE Mar 2026	53.7	+27.0%	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 ¥29bn

CAGR · 10 yrs −3.1%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	39.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	44.4	+14.0%	Cons. · Japanese GAAP
FYE Mar 2019	36.9	−16.9%	Cons. · Japanese GAAP
FYE Mar 2020	40.1	+8.7%	Cons. · Japanese GAAP
FYE Mar 2021	53.1	+32.4%	Cons. · Japanese GAAP
FYE Mar 2022	27.9	−47.4%	Cons. · Japanese GAAP
FYE Mar 2023	27.0	−3.5%	Cons. · Japanese GAAP
FYE Mar 2024	26.4	−2.1%	Cons. · Japanese GAAP
FYE Mar 2025	30.0	+13.7%	Cons. · Japanese GAAP
FYE Mar 2026	29.3	−2.3%	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 ¥24bn

CAGR · 10 yrs +2.9%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	18.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.4	+60.8%	Cons. · Japanese GAAP
FYE Mar 2019	49.4	+62.2%	Cons. · Japanese GAAP
FYE Mar 2020	50.0	+1.3%	Cons. · Japanese GAAP
FYE Mar 2021	45.8	−8.3%	Cons. · Japanese GAAP
FYE Mar 2022	40.7	−11.2%	Cons. · Japanese GAAP
FYE Mar 2023	32.8	−19.4%	Cons. · Japanese GAAP
FYE Mar 2024	20.5	−37.4%	Cons. · Japanese GAAP
FYE Mar 2025	12.3	−40.2%	Cons. · Japanese GAAP
FYE Mar 2026	24.4	+98.6%	Cons. · Japanese GAAP

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

Bonds

FYE Mar 2026 n/a

CAGR · 9 yrs −0.0%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	10.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	20.0	+100.0%	Cons. · Japanese GAAP
FYE Mar 2020	20.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	20.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	30.0	+50.0%	Cons. · Japanese GAAP
FYE Mar 2023	30.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2024	20.0	−33.3%	Cons. · Japanese GAAP
FYE Mar 2025	10.0	−50.0%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: Bonds outstanding
Formula: Bonds line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥7.6bn

CAGR · 10 yrs −3.0%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	10.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.0	−9.4%	Cons. · Japanese GAAP
FYE Mar 2019	7.7	−14.4%	Cons. · Japanese GAAP
FYE Mar 2020	7.5	−2.7%	Cons. · Japanese GAAP
FYE Mar 2021	8.0	+6.6%	Cons. · Japanese GAAP
FYE Mar 2022	9.5	+18.4%	Cons. · Japanese GAAP
FYE Mar 2023	11.1	+17.8%	Cons. · Japanese GAAP
FYE Mar 2024	10.2	−8.4%	Cons. · Japanese GAAP
FYE Mar 2025	8.9	−12.8%	Cons. · Japanese GAAP
FYE Mar 2026	7.6	−15.1%	Cons. · Japanese GAAP

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

Goodwill

FYE Mar 2026 ¥1.2bn

CAGR · 10 yrs −16.0%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.3	−8.0%	Cons. · Japanese GAAP
FYE Mar 2019	4.6	−12.0%	Cons. · Japanese GAAP
FYE Mar 2020	4.0	−12.6%	Cons. · Japanese GAAP
FYE Mar 2021	3.6	−11.0%	Cons. · Japanese GAAP
FYE Mar 2022	3.2	−12.1%	Cons. · Japanese GAAP
FYE Mar 2023	2.7	−15.5%	Cons. · Japanese GAAP
FYE Mar 2024	2.2	−16.6%	Cons. · Japanese GAAP
FYE Mar 2025	1.7	−23.3%	Cons. · Japanese GAAP
FYE Mar 2026	1.2	−30.1%	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 57.3%

Average · 10 yrs 52.3%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	54.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	52.3	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2019	48.0	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2020	48.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	44.4	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2022	47.7	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2023	52.6	+4.9pp	Cons. · Japanese GAAP
FYE Mar 2024	58.9	+6.3pp	Cons. · Japanese GAAP
FYE Mar 2025	59.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	57.3	−1.8pp	Cons. · Japanese GAAP

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

Debt-to-equity ratio D/E ratio

FYE Mar 2026 11.8%

Average · 10 yrs 24.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	26.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	31.3	+4.9pp	Cons. · Japanese GAAP
FYE Mar 2019	36.4	+5.0pp	Cons. · Japanese GAAP
FYE Mar 2020	36.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	37.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2022	21.9	−15.3pp	Cons. · Japanese GAAP
FYE Mar 2023	17.3	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2024	12.6	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2025	10.6	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	11.8	+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 13.7%

Average · 10 yrs 9.5%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	11.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.3	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	6.3	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2020	7.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	8.2	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2022	16.3	+8.1pp	Cons. · Japanese GAAP
FYE Mar 2023	7.3	−9.0pp	Cons. · Japanese GAAP
FYE Mar 2024	7.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	6.8	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	13.7	+6.9pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 7.9%

Average · 10 yrs 5.0%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	6.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.4	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	3.0	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2020	3.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	3.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	7.8	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2023	3.8	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2024	4.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	4.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	7.9	+3.8pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.94×

CAGR · 10 yrs −0.9%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.01	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.00	−1.8%	Cons. · Japanese GAAP
FYE Mar 2019	0.92	−8.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.95	+3.4%	Cons. · Japanese GAAP
FYE Mar 2021	0.98	+3.8%	Cons. · Japanese GAAP
FYE Mar 2022	1.27	+28.8%	Cons. · Japanese GAAP
FYE Mar 2023	1.19	−5.9%	Cons. · Japanese GAAP
FYE Mar 2024	1.13	−4.8%	Cons. · Japanese GAAP
FYE Mar 2025	1.01	−11.1%	Cons. · Japanese GAAP
FYE Mar 2026	0.94	−6.9%	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 ¥5.2bn

CAGR · 10 yrs −17.4%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	29.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.1	−62.1%	Cons. · Japanese GAAP
FYE Mar 2019	37.6	+237.6%	Cons. · Japanese GAAP
FYE Mar 2020	55.1	+46.8%	Cons. · Japanese GAAP
FYE Mar 2021	-3.1	−105.6%	Cons. · Japanese GAAP
FYE Mar 2022	59.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	50.7	−15.3%	Cons. · Japanese GAAP
FYE Mar 2024	119	+133.9%	Cons. · Japanese GAAP
FYE Mar 2025	12.8	−89.2%	Cons. · Japanese GAAP
FYE Mar 2026	5.2	−59.1%	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 ¥12bn

Average · 10 yrs -¥27bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-26.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-34.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-51.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-37.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-22.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-11.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-30.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-26.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-41.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	12.1	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 -¥10bn

Average · 10 yrs -¥8.6bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-7.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	15.9	−33.8%	Cons. · Japanese GAAP
FYE Mar 2020	-6.6	−141.2%	Cons. · Japanese GAAP
FYE Mar 2021	11.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-31.2	−369.2%	Cons. · Japanese GAAP
FYE Mar 2023	-19.8	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-59.2	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-4.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-10.0	n/a	Cons. · Japanese GAAP

Definition: Cash raised from, or returned to, lenders and shareholders
Formula: Cash flow from financing activities
Source: Securities report (XBRL)

Cash and equivalents

FYE Mar 2026 ¥49bn

CAGR · 10 yrs +14.0%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	15.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.5	+8.9%	Cons. · Japanese GAAP
FYE Mar 2019	19.0	+15.4%	Cons. · Japanese GAAP
FYE Mar 2020	30.2	+59.1%	Cons. · Japanese GAAP
FYE Mar 2021	17.3	−42.7%	Cons. · Japanese GAAP
FYE Mar 2022	35.7	+106.4%	Cons. · Japanese GAAP
FYE Mar 2023	37.8	+5.7%	Cons. · Japanese GAAP
FYE Mar 2024	73.0	+93.5%	Cons. · Japanese GAAP
FYE Mar 2025	41.2	−43.5%	Cons. · Japanese GAAP
FYE Mar 2026	49.3	+19.5%	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 ¥17bn

CAGR · 10 yrs +19.7%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	3.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-22.9	−766.2%	Cons. · Japanese GAAP
FYE Mar 2019	-13.5	n/a	Cons. · Japanese GAAP
FYE Mar 2020	17.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-26.0	−250.5%	Cons. · Japanese GAAP
FYE Mar 2022	48.6	n/a	Cons. · Japanese GAAP
FYE Mar 2023	20.4	−58.0%	Cons. · Japanese GAAP
FYE Mar 2024	92.4	+353.2%	Cons. · Japanese GAAP
FYE Mar 2025	-28.6	−131.0%	Cons. · Japanese GAAP
FYE Mar 2026	17.4	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 0.7%

Average · 10 yrs 6.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	7.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.4	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2019	8.3	+5.8pp	Cons. · Japanese GAAP
FYE Mar 2020	11.4	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2021	-0.5	−11.9pp	Cons. · Japanese GAAP
FYE Mar 2022	7.2	+7.7pp	Cons. · Japanese GAAP
FYE Mar 2023	6.5	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	16.5	+10.0pp	Cons. · Japanese GAAP
FYE Mar 2025	1.9	−14.7pp	Cons. · Japanese GAAP
FYE Mar 2026	0.7	−1.2pp	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 -¥4.4bn

Average · 10 yrs -¥34bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-42.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-58.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-67.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-59.9	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-81.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-32.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-22.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	26.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-1.0	−103.9%	Cons. · Japanese GAAP
FYE Mar 2026	-4.4	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 ¥541bn

Change · 10 yrs +¥293bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	249	n/a
FYE Mar 2018	236	n/a
FYE Mar 2019	226	n/a
FYE Mar 2020	175	n/a
FYE Mar 2021	287	n/a
FYE Mar 2022	348	n/a
FYE Mar 2023	263	n/a
FYE Mar 2024	330	n/a
FYE Mar 2025	287	n/a
FYE Mar 2026	541	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 8,735¥

Change · 10 yrs +7,933¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	802	n/a
FYE Mar 2018	3,809	n/a
FYE Mar 2019	3,639	n/a
FYE Mar 2020	2,830	n/a
FYE Mar 2021	4,628	n/a
FYE Mar 2022	5,607	n/a
FYE Mar 2023	4,245	n/a
FYE Mar 2024	5,329	n/a
FYE Mar 2025	4,629	n/a
FYE Mar 2026	8,735	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 61,989,206shares

Change · 10 yrs −247,956,825 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	309,946,031	Parent
FYE Mar 2018	61,989,206	Parent
FYE Mar 2019	61,989,206	Parent
FYE Mar 2020	61,989,206	Parent
FYE Mar 2021	61,989,206	Parent
FYE Mar 2022	61,989,206	Parent
FYE Mar 2023	61,989,206	Parent
FYE Mar 2024	61,989,206	Parent
FYE Mar 2025	61,989,206	Parent
FYE Mar 2026	61,989,206	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 1,049.83¥

Change · 10 yrs +607.67¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	442.16	Cons.
FYE Mar 2018	417.21	Cons.
FYE Mar 2019	253.22	Cons.
FYE Mar 2020	293.92	Cons.
FYE Mar 2021	368.45	Cons.
FYE Mar 2022	857.32	Cons.
FYE Mar 2023	420.76	Cons.
FYE Mar 2024	467.90	Cons.
FYE Mar 2025	455.60	Cons.
FYE Mar 2026	1,049.83	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 7,349.10¥

Change · 10 yrs +6,641.55¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	707.55	Cons. · Japanese GAAP
FYE Mar 2018	3,852.54	Cons. · Japanese GAAP
FYE Mar 2019	3,826.70	Cons. · Japanese GAAP
FYE Mar 2020	4,001.45	Cons. · Japanese GAAP
FYE Mar 2021	4,286.31	Cons. · Japanese GAAP
FYE Mar 2022	5,056.61	Cons. · Japanese GAAP
FYE Mar 2023	5,563.76	Cons. · Japanese GAAP
FYE Mar 2024	6,017.02	Cons. · Japanese GAAP
FYE Mar 2025	6,426.94	Cons. · Japanese GAAP
FYE Mar 2026	7,349.10	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 8.32×

Average · 10 yrs 10.13×

Fiscal year	PER ×	Basis
FYE Mar 2017	9.07	Cons.
FYE Mar 2018	9.13	Cons.
FYE Mar 2019	14.37	Cons.
FYE Mar 2020	9.63	Cons.
FYE Mar 2021	12.56	Cons.
FYE Mar 2022	6.54	Cons.
FYE Mar 2023	10.09	Cons.
FYE Mar 2024	11.39	Cons.
FYE Mar 2025	10.16	Cons.
FYE Mar 2026	8.32	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 1.13×

Average · 10 yrs 0.91×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.08	Cons.
FYE Mar 2018	0.94	Cons.
FYE Mar 2019	0.91	Cons.
FYE Mar 2020	0.68	Cons.
FYE Mar 2021	1.04	Cons.
FYE Mar 2022	1.06	Cons.
FYE Mar 2023	0.73	Cons.
FYE Mar 2024	0.85	Cons.
FYE Mar 2025	0.69	Cons.
FYE Mar 2026	1.13	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 8,355people

Change · 10 yrs +2,130 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	6,225	n/a	Cons.
FYE Mar 2018	6,468	+3.9%	Cons.
FYE Mar 2019	6,680	+3.3%	Cons.
FYE Mar 2020	6,986	+4.6%	Cons.
FYE Mar 2021	7,258	+3.9%	Cons.
FYE Mar 2022	7,394	+1.9%	Cons.
FYE Mar 2023	7,569	+2.4%	Cons.
FYE Mar 2024	7,801	+3.1%	Cons.
FYE Mar 2025	8,076	+3.5%	Cons.
FYE Mar 2026	8,355	+3.5%	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 98people

Change · 10 yrs +29 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	69	n/a	Parent
FYE Mar 2018	69	−0.0%	Parent
FYE Mar 2019	75	+8.7%	Parent
FYE Mar 2020	78	+4.0%	Parent
FYE Mar 2021	84	+7.7%	Parent
FYE Mar 2022	79	−6.0%	Parent
FYE Mar 2023	84	+6.3%	Parent
FYE Mar 2024	89	+6.0%	Parent
FYE Mar 2025	94	+5.6%	Parent
FYE Mar 2026	98	+4.3%	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 ¥8.3m

Change · 10 yrs +¥0.4m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	7.9	n/a	Parent
FYE Mar 2018	8.3	+5.2%	Parent
FYE Mar 2019	8.3	−0.0%	Parent
FYE Mar 2020	7.9	−5.0%	Parent
FYE Mar 2021	7.9	+1.0%	Parent
FYE Mar 2022	8.1	+1.7%	Parent
FYE Mar 2023	8.7	+7.2%	Parent
FYE Mar 2024	8.4	−3.1%	Parent
FYE Mar 2025	8.1	−3.8%	Parent
FYE Mar 2026	8.3	+3.0%	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 43.3years

Change · 8 yrs −0.8 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	44.1	n/a	Parent
FYE Mar 2020	44.0	−0.2%	Parent
FYE Mar 2021	43.8	−0.5%	Parent
FYE Mar 2022	43.3	−1.1%	Parent
FYE Mar 2023	44.0	+1.6%	Parent
FYE Mar 2024	43.2	−1.8%	Parent
FYE Mar 2025	42.9	−0.7%	Parent
FYE Mar 2026	43.3	+0.9%	Parent

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

Average length of service

FYE Mar 2026 15.7years

Change · 10 yrs −0.9 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	16.6	n/a	Parent
FYE Mar 2018	17.5	+5.4%	Parent
FYE Mar 2019	17.6	+0.6%	Parent
FYE Mar 2020	17.3	−1.7%	Parent
FYE Mar 2021	17.1	−1.2%	Parent
FYE Mar 2022	16.3	−4.7%	Parent
FYE Mar 2023	16.9	+3.7%	Parent
FYE Mar 2024	16.5	−2.4%	Parent
FYE Mar 2025	15.8	−4.2%	Parent
FYE Mar 2026	15.7	−0.6%	Parent

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

Temporary employees

FYE Mar 2026 3,127people

Change · 10 yrs +651 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	2,476	n/a	n/a
FYE Mar 2018	2,607	+5.3%	n/a
FYE Mar 2019	2,850	+9.3%	n/a
FYE Mar 2020	2,744	−3.7%	n/a
FYE Mar 2021	2,964	+8.0%	n/a
FYE Mar 2022	3,000	+1.2%	n/a
FYE Mar 2023	2,998	−0.1%	n/a
FYE Mar 2024	3,094	+3.2%	n/a
FYE Mar 2025	3,132	+1.2%	n/a
FYE Mar 2026	3,127	−0.2%	n/a

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

Revenue per employee

FYE Mar 2026 ¥89.2m

Change · 10 yrs +¥23.3m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	65.9	n/a	Cons.
FYE Mar 2018	70.3	+6.6%	Cons.
FYE Mar 2019	67.8	−3.6%	Cons.
FYE Mar 2020	69.4	+2.4%	Cons.
FYE Mar 2021	81.0	+16.7%	Cons.
FYE Mar 2022	112	+38.9%	Cons.
FYE Mar 2023	103	−8.4%	Cons.
FYE Mar 2024	91.9	−10.8%	Cons.
FYE Mar 2025	84.0	−8.6%	Cons.
FYE Mar 2026	89.2	+6.2%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥4.1m

Change · 10 yrs −¥1.4m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	5.5	n/a	Cons.
FYE Mar 2018	4.8	−12.4%	Cons.
FYE Mar 2019	2.8	−41.6%	Cons.
FYE Mar 2020	3.7	+32.9%	Cons.
FYE Mar 2021	5.2	+38.9%	Cons.
FYE Mar 2022	8.6	+67.3%	Cons.
FYE Mar 2023	5.9	−31.7%	Cons.
FYE Mar 2024	3.8	−34.7%	Cons.
FYE Mar 2025	4.0	+3.8%	Cons.
FYE Mar 2026	4.1	+2.6%	Cons.

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

Disclaimer

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

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

Data API

Dowa Holdings’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/5714/company.json ·/api/5714/history.json ·/api/5714/ceo.json ·/api/5714/financials.json ·/api/5714/financials/segment.json ·/api/5714/financials/pl.json ·/api/5714/financials/cf.json ·/api/5714/financials/bs.json ·/api/5714/financials/employee.json ·/api/5714/financials/stock.json ·/api/5714/financials.csv ·/api/5714/financials_history.csv

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