Financials

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

FYE Mar 2026 · Revenue¥661bnYoY −0.3%

FYE Mar 2026 · Operating profit¥79bnYoY −1.8%

FYE Mar 2026 · Net profit¥60bnYoY +3.9%

FYE Mar 2026 · Equity ratio63.6%YoY +3.4pp

FYE Mar 2026 · Group employees13,174YoY +58

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥354bn	n/a	¥26bn	n/a	7.5%	¥17bn	—	—
FYE Mar 2018Consolidated	¥386bn	+9.0%	¥28bn	+7.1%	7.3%	¥18bn	Takayama Yasushi	—
FYE Mar 2019Consolidated	¥410bn	+6.3%	¥32bn	+11.5%	7.7%	¥21bn	Takayama Yasushi	<a class="en-history_person" href="/tse/5929/executives/ceo/takayama-yasushi/" hreflang="ja">Takayama Yasushi</a> succeeds as third-generation president
FYE Mar 2020Consolidated	¥440bn	+7.4%	¥34bn	+8.3%	7.8%	¥22bn	Takayama Yasushi	LIXIL Suzuki Shutter acquired
FYE Mar 2021Consolidated	¥427bn	−3.0%	¥33bn	−3.3%	7.7%	¥21bn	Takayama Yasushi	—
FYE Mar 2022Consolidated	¥469bn	+9.8%	¥35bn	+7.3%	7.6%	¥23bn	Takayama Yasushi	—
FYE Mar 2023Consolidated	¥588bn	+25.4%	¥56bn	+58.7%	9.6%	¥33bn	Takayama Yasushi	“Sanwa Global Vision 2030”; move to the TSE Prime Market
FYE Mar 2024Consolidated	¥611bn	+3.9%	¥65bn	+16.1%	10.7%	¥43bn	Takayama Yasushi	—
FYE Mar 2025Consolidated	¥662bn	+8.4%	¥81bn	+23.2%	12.2%	¥58bn	Takayama Yasushi	—
FYE Mar 2026Consolidated	¥661bn	−0.3%	¥79bn	−1.8%	12.0%	¥60bn	Takayama Yasushi	Third straight record year; dividend policy switched to 8% DOE

How it compares

LIXIL¥1.51tnFY2025Operating margin 1.9%

YKK Corporation¥993bnFY2025Operating margin 4.7%

Sanwa Holdings¥661bnFY2025Operating margin 12.0%

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 ¥661bn

CAGR · 10 yrs +7.2%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	354	n/a	Cons. · Japanese GAAP
FYE Mar 2018	386	+9.0%	Cons. · Japanese GAAP
FYE Mar 2019	410	+6.3%	Cons. · Japanese GAAP
FYE Mar 2020	440	+7.4%	Cons. · Japanese GAAP
FYE Mar 2021	427	−3.0%	Cons. · Japanese GAAP
FYE Mar 2022	469	+9.8%	Cons. · Japanese GAAP
FYE Mar 2023	588	+25.4%	Cons. · Japanese GAAP
FYE Mar 2024	611	+3.9%	Cons. · Japanese GAAP
FYE Mar 2025	662	+8.4%	Cons. · Japanese GAAP
FYE Mar 2026	661	−0.3%	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 ¥442bn

CAGR · 10 yrs +6.5%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	250	n/a	Cons. · Japanese GAAP
FYE Mar 2018	273	+9.2%	Cons. · Japanese GAAP
FYE Mar 2019	291	+6.6%	Cons. · Japanese GAAP
FYE Mar 2020	311	+6.7%	Cons. · Japanese GAAP
FYE Mar 2021	300	−3.6%	Cons. · Japanese GAAP
FYE Mar 2022	331	+10.3%	Cons. · Japanese GAAP
FYE Mar 2023	408	+23.5%	Cons. · Japanese GAAP
FYE Mar 2024	414	+1.4%	Cons. · Japanese GAAP
FYE Mar 2025	444	+7.3%	Cons. · Japanese GAAP
FYE Mar 2026	442	−0.5%	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 ¥219bn

CAGR · 10 yrs +8.6%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	104	n/a	Cons. · Japanese GAAP
FYE Mar 2018	113	+8.3%	Cons. · Japanese GAAP
FYE Mar 2019	119	+5.5%	Cons. · Japanese GAAP
FYE Mar 2020	129	+8.9%	Cons. · Japanese GAAP
FYE Mar 2021	127	−1.6%	Cons. · Japanese GAAP
FYE Mar 2022	138	+8.7%	Cons. · Japanese GAAP
FYE Mar 2023	180	+29.9%	Cons. · Japanese GAAP
FYE Mar 2024	197	+9.7%	Cons. · Japanese GAAP
FYE Mar 2025	218	+10.7%	Cons. · Japanese GAAP
FYE Mar 2026	219	+0.3%	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 ¥140bn

CAGR · 10 yrs +6.8%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	77.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	84.2	+8.8%	Cons. · Japanese GAAP
FYE Mar 2019	87.1	+3.4%	Cons. · Japanese GAAP
FYE Mar 2020	95.0	+9.1%	Cons. · Japanese GAAP
FYE Mar 2021	94.1	−0.9%	Cons. · Japanese GAAP
FYE Mar 2022	103	+9.2%	Cons. · Japanese GAAP
FYE Mar 2023	123	+20.0%	Cons. · Japanese GAAP
FYE Mar 2024	132	+6.8%	Cons. · Japanese GAAP
FYE Mar 2025	138	+4.6%	Cons. · Japanese GAAP
FYE Mar 2026	140	+1.5%	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 ¥79bn

CAGR · 10 yrs +12.9%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	26.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	28.3	+7.1%	Cons. · Japanese GAAP
FYE Mar 2019	31.6	+11.5%	Cons. · Japanese GAAP
FYE Mar 2020	34.2	+8.3%	Cons. · Japanese GAAP
FYE Mar 2021	33.1	−3.3%	Cons. · Japanese GAAP
FYE Mar 2022	35.5	+7.3%	Cons. · Japanese GAAP
FYE Mar 2023	56.3	+58.7%	Cons. · Japanese GAAP
FYE Mar 2024	65.4	+16.1%	Cons. · Japanese GAAP
FYE Mar 2025	80.5	+23.2%	Cons. · Japanese GAAP
FYE Mar 2026	79.1	−1.8%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥4.8bn

CAGR · 10 yrs +22.3%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	+8.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.0	+18.1%	Cons. · Japanese GAAP
FYE Mar 2020	1.2	+18.1%	Cons. · Japanese GAAP
FYE Mar 2021	1.0	−18.7%	Cons. · Japanese GAAP
FYE Mar 2022	1.0	+6.9%	Cons. · Japanese GAAP
FYE Mar 2023	0.9	−15.9%	Cons. · Japanese GAAP
FYE Mar 2024	2.5	+188.0%	Cons. · Japanese GAAP
FYE Mar 2025	6.1	+146.8%	Cons. · Japanese GAAP
FYE Mar 2026	4.8	−22.4%	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 ¥3.2bn

CAGR · 10 yrs +5.8%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.3	−34.5%	Cons. · Japanese GAAP
FYE Mar 2019	2.2	+69.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.9	−10.4%	Cons. · Japanese GAAP
FYE Mar 2021	1.9	−1.9%	Cons. · Japanese GAAP
FYE Mar 2022	2.4	+26.2%	Cons. · Japanese GAAP
FYE Mar 2023	4.4	+83.4%	Cons. · Japanese GAAP
FYE Mar 2024	2.9	−32.9%	Cons. · Japanese GAAP
FYE Mar 2025	2.6	−10.1%	Cons. · Japanese GAAP
FYE Mar 2026	3.2	+21.6%	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 ¥81bn

CAGR · 10 yrs +13.8%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	25.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.9	+10.4%	Cons. · Japanese GAAP
FYE Mar 2019	30.4	+9.1%	Cons. · Japanese GAAP
FYE Mar 2020	33.5	+10.0%	Cons. · Japanese GAAP
FYE Mar 2021	32.1	−4.0%	Cons. · Japanese GAAP
FYE Mar 2022	34.1	+6.2%	Cons. · Japanese GAAP
FYE Mar 2023	52.8	+54.7%	Cons. · Japanese GAAP
FYE Mar 2024	64.9	+23.0%	Cons. · Japanese GAAP
FYE Mar 2025	84.0	+29.4%	Cons. · Japanese GAAP
FYE Mar 2026	80.6	−4.0%	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 ¥1.7bn

CAGR · 10 yrs +8.9%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.4	−55.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.2	−38.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.1	−61.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.2	+184.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.1	−74.9%	Cons. · Japanese GAAP
FYE Mar 2023	0.2	+223.3%	Cons. · Japanese GAAP
FYE Mar 2024	4.8	+2352.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.2	−96.0%	Cons. · Japanese GAAP
FYE Mar 2026	1.7	+799.5%	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 ¥1.9bn

CAGR · 5 yrs +27.1%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2017	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.3	−58.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.6	+104.4%	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	0.5	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	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	1.9	n/a	Cons. · Japanese GAAP

Definition: One-off losses, such as an impairment or a restructuring charge
Formula: Extraordinary loss line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥60bn

CAGR · 10 yrs +14.9%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	17.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.3	+7.1%	Cons. · Japanese GAAP
FYE Mar 2019	20.9	+14.4%	Cons. · Japanese GAAP
FYE Mar 2020	21.6	+3.5%	Cons. · Japanese GAAP
FYE Mar 2021	21.3	−1.8%	Cons. · Japanese GAAP
FYE Mar 2022	22.8	+7.5%	Cons. · Japanese GAAP
FYE Mar 2023	33.1	+44.8%	Cons. · Japanese GAAP
FYE Mar 2024	43.2	+30.7%	Cons. · Japanese GAAP
FYE Mar 2025	57.5	+33.0%	Cons. · Japanese GAAP
FYE Mar 2026	59.8	+3.9%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 33.1%

Average · 10 yrs 30.5%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	29.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	28.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	29.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	29.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	29.5	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	30.6	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	32.3	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	33.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	33.1	+0.2pp	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 12.0%

Average · 10 yrs 9.0%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	7.7	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	7.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	7.7	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	7.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	9.6	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2024	10.7	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	12.2	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	12.0	−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 12.2%

Average · 10 yrs 8.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	7.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	7.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	7.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	7.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	9.0	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	10.6	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	12.7	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2026	12.2	−0.5pp	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 9.0%

Average · 10 yrs 6.0%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	4.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	5.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	4.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	5.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	4.9	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	5.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	7.1	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	8.7	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	9.0	+0.4pp	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 66.9%

Average · 10 yrs 69.5%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	70.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	70.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	71.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	70.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	70.2	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	70.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	69.4	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	67.7	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	67.0	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	66.9	−0.2pp	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 21.2%

Average · 10 yrs 21.5%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	21.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	21.2	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	21.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	22.0	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	21.9	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	21.0	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	21.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	20.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	21.2	+0.4pp	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 ¥548bn

CAGR · 10 yrs +6.0%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	323	n/a	Cons. · Japanese GAAP
FYE Mar 2018	332	+2.6%	Cons. · Japanese GAAP
FYE Mar 2019	338	+2.0%	Cons. · Japanese GAAP
FYE Mar 2020	354	+4.6%	Cons. · Japanese GAAP
FYE Mar 2021	375	+6.0%	Cons. · Japanese GAAP
FYE Mar 2022	386	+3.0%	Cons. · Japanese GAAP
FYE Mar 2023	442	+14.5%	Cons. · Japanese GAAP
FYE Mar 2024	492	+11.2%	Cons. · Japanese GAAP
FYE Mar 2025	535	+8.7%	Cons. · Japanese GAAP
FYE Mar 2026	548	+2.5%	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 ¥349bn

CAGR · 10 yrs +10.7%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	139	n/a	Cons. · Japanese GAAP
FYE Mar 2018	150	+8.0%	Cons. · Japanese GAAP
FYE Mar 2019	161	+7.0%	Cons. · Japanese GAAP
FYE Mar 2020	164	+2.2%	Cons. · Japanese GAAP
FYE Mar 2021	180	+9.6%	Cons. · Japanese GAAP
FYE Mar 2022	202	+12.1%	Cons. · Japanese GAAP
FYE Mar 2023	241	+19.3%	Cons. · Japanese GAAP
FYE Mar 2024	284	+17.8%	Cons. · Japanese GAAP
FYE Mar 2025	322	+13.5%	Cons. · Japanese GAAP
FYE Mar 2026	349	+8.2%	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 ¥11bn

CAGR · 10 yrs −10.4%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	28.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.6	−16.5%	Cons. · Japanese GAAP
FYE Mar 2019	17.7	−25.2%	Cons. · Japanese GAAP
FYE Mar 2020	18.0	+1.8%	Cons. · Japanese GAAP
FYE Mar 2021	25.1	+39.8%	Cons. · Japanese GAAP
FYE Mar 2022	18.2	−27.8%	Cons. · Japanese GAAP
FYE Mar 2023	20.7	+14.1%	Cons. · Japanese GAAP
FYE Mar 2024	24.1	+16.6%	Cons. · Japanese GAAP
FYE Mar 2025	22.1	−8.6%	Cons. · Japanese GAAP
FYE Mar 2026	10.6	−52.2%	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 ¥8.3bn

CAGR · 10 yrs +4.8%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.8	+7.4%	Cons. · Japanese GAAP
FYE Mar 2019	6.8	+17.1%	Cons. · Japanese GAAP
FYE Mar 2020	6.2	−9.6%	Cons. · Japanese GAAP
FYE Mar 2021	6.0	−3.0%	Cons. · Japanese GAAP
FYE Mar 2022	8.2	+36.4%	Cons. · Japanese GAAP
FYE Mar 2023	9.9	+20.8%	Cons. · Japanese GAAP
FYE Mar 2024	6.8	−31.0%	Cons. · Japanese GAAP
FYE Mar 2025	7.8	+14.5%	Cons. · Japanese GAAP
FYE Mar 2026	8.3	+6.7%	Cons. · Japanese GAAP

Definition: Borrowings repayable within a year
Formula: Short-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Long-term borrowings

FYE Mar 2026 ¥2.2bn

CAGR · 10 yrs −22.8%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	22.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.8	−22.2%	Cons. · Japanese GAAP
FYE Mar 2019	10.8	−39.1%	Cons. · Japanese GAAP
FYE Mar 2020	11.8	+9.0%	Cons. · Japanese GAAP
FYE Mar 2021	19.1	+62.3%	Cons. · Japanese GAAP
FYE Mar 2022	10.0	−47.9%	Cons. · Japanese GAAP
FYE Mar 2023	10.8	+8.5%	Cons. · Japanese GAAP
FYE Mar 2024	17.3	+60.1%	Cons. · Japanese GAAP
FYE Mar 2025	14.3	−17.7%	Cons. · Japanese GAAP
FYE Mar 2026	2.2	−84.4%	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 ¥22bn

CAGR · 10 yrs −1.2%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	24.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.5	+1.2%	Cons. · Japanese GAAP
FYE Mar 2019	24.0	−1.9%	Cons. · Japanese GAAP
FYE Mar 2020	23.3	−3.0%	Cons. · Japanese GAAP
FYE Mar 2021	20.8	−10.8%	Cons. · Japanese GAAP
FYE Mar 2022	29.6	+42.3%	Cons. · Japanese GAAP
FYE Mar 2023	27.1	−8.4%	Cons. · Japanese GAAP
FYE Mar 2024	22.5	−16.9%	Cons. · Japanese GAAP
FYE Mar 2025	22.2	−1.4%	Cons. · Japanese GAAP
FYE Mar 2026	21.7	−2.0%	Cons. · Japanese GAAP

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

Goodwill

FYE Mar 2026 ¥3.3bn

CAGR · 10 yrs −8.9%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.4	−2.1%	Cons. · Japanese GAAP
FYE Mar 2019	6.8	−8.5%	Cons. · Japanese GAAP
FYE Mar 2020	5.3	−22.2%	Cons. · Japanese GAAP
FYE Mar 2021	4.9	−6.7%	Cons. · Japanese GAAP
FYE Mar 2022	10.8	+119.6%	Cons. · Japanese GAAP
FYE Mar 2023	7.6	−29.5%	Cons. · Japanese GAAP
FYE Mar 2024	4.9	−35.4%	Cons. · Japanese GAAP
FYE Mar 2025	3.6	−27.6%	Cons. · Japanese GAAP
FYE Mar 2026	3.3	−8.4%	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 63.6%

Average · 10 yrs 51.9%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	43.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	45.3	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2019	47.5	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2020	46.4	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	48.0	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	52.3	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2023	54.5	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	57.7	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	60.3	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2026	63.6	+3.4pp	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 3.0%

Average · 10 yrs 10.8%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.7	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2019	11.0	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2020	10.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	14.0	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2022	9.0	−5.0pp	Cons. · Japanese GAAP
FYE Mar 2023	8.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	8.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	6.8	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2026	3.0	−3.8pp	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 17.1%

Average · 10 yrs 13.8%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	12.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	13.0	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	13.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	11.8	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2022	11.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	13.7	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2024	15.2	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	17.9	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2026	17.1	−0.7pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 10.9%

Average · 10 yrs 7.3%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	6.2	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	6.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	5.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	5.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	7.5	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2024	8.8	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	10.8	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	10.9	+0.2pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 1.21×

CAGR · 10 yrs +1.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.09	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.16	+6.2%	Cons. · Japanese GAAP
FYE Mar 2019	1.21	+4.2%	Cons. · Japanese GAAP
FYE Mar 2020	1.24	+2.6%	Cons. · Japanese GAAP
FYE Mar 2021	1.14	−8.4%	Cons. · Japanese GAAP
FYE Mar 2022	1.21	+6.7%	Cons. · Japanese GAAP
FYE Mar 2023	1.33	+9.5%	Cons. · Japanese GAAP
FYE Mar 2024	1.24	−6.5%	Cons. · Japanese GAAP
FYE Mar 2025	1.24	−0.3%	Cons. · Japanese GAAP
FYE Mar 2026	1.21	−2.7%	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 ¥61bn

CAGR · 10 yrs +11.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	23.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.5	+12.1%	Cons. · Japanese GAAP
FYE Mar 2019	24.3	−8.5%	Cons. · Japanese GAAP
FYE Mar 2020	32.3	+33.1%	Cons. · Japanese GAAP
FYE Mar 2021	50.1	+55.2%	Cons. · Japanese GAAP
FYE Mar 2022	20.5	−59.1%	Cons. · Japanese GAAP
FYE Mar 2023	34.4	+67.7%	Cons. · Japanese GAAP
FYE Mar 2024	72.4	+110.4%	Cons. · Japanese GAAP
FYE Mar 2025	76.9	+6.2%	Cons. · Japanese GAAP
FYE Mar 2026	61.4	−20.2%	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 -¥18bn

Average · 10 yrs -¥17bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-8.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-13.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-13.7	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-16.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-11.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-21.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-15.9	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-24.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-30.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-17.9	n/a	Cons. · Japanese GAAP

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

Financing cash flow

FYE Mar 2026 -¥53bn

Average · 10 yrs -¥21bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-0.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-20.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-11.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-6.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-27.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-9.9	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-26.2	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-42.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-52.7	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 ¥92bn

CAGR · 10 yrs +5.6%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	56.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	49.3	−12.5%	Cons. · Japanese GAAP
FYE Mar 2019	48.0	−2.6%	Cons. · Japanese GAAP
FYE Mar 2020	54.6	+13.8%	Cons. · Japanese GAAP
FYE Mar 2021	87.8	+60.7%	Cons. · Japanese GAAP
FYE Mar 2022	61.4	−30.1%	Cons. · Japanese GAAP
FYE Mar 2023	71.2	+15.9%	Cons. · Japanese GAAP
FYE Mar 2024	94.2	+32.4%	Cons. · Japanese GAAP
FYE Mar 2025	103	+9.5%	Cons. · Japanese GAAP
FYE Mar 2026	91.6	−11.2%	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 ¥43bn

CAGR · 10 yrs +12.0%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	15.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.4	−14.7%	Cons. · Japanese GAAP
FYE Mar 2019	10.6	−20.7%	Cons. · Japanese GAAP
FYE Mar 2020	15.7	+48.0%	Cons. · Japanese GAAP
FYE Mar 2021	39.0	+148.5%	Cons. · Japanese GAAP
FYE Mar 2022	-0.8	−102.1%	Cons. · Japanese GAAP
FYE Mar 2023	18.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	47.6	+157.6%	Cons. · Japanese GAAP
FYE Mar 2025	46.8	−1.8%	Cons. · Japanese GAAP
FYE Mar 2026	43.5	−7.0%	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 9.3%

Average · 10 yrs 8.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	5.9	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	7.3	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2021	11.7	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2022	4.4	−7.4pp	Cons. · Japanese GAAP
FYE Mar 2023	5.9	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	11.9	+6.0pp	Cons. · Japanese GAAP
FYE Mar 2025	11.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	9.3	−2.3pp	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 ¥81bn

CAGR · 10 yrs +12.5%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	28.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.6	−8.4%	Cons. · Japanese GAAP
FYE Mar 2019	30.3	+18.2%	Cons. · Japanese GAAP
FYE Mar 2020	36.6	+20.9%	Cons. · Japanese GAAP
FYE Mar 2021	62.7	+71.0%	Cons. · Japanese GAAP
FYE Mar 2022	43.2	−31.0%	Cons. · Japanese GAAP
FYE Mar 2023	50.4	+16.7%	Cons. · Japanese GAAP
FYE Mar 2024	70.1	+38.9%	Cons. · Japanese GAAP
FYE Mar 2025	81.1	+15.7%	Cons. · Japanese GAAP
FYE Mar 2026	81.0	−0.0%	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 ¥784bn

Change · 10 yrs +¥535bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	250	n/a
FYE Mar 2018	323	n/a
FYE Mar 2019	310	n/a
FYE Mar 2020	195	n/a
FYE Mar 2021	336	n/a
FYE Mar 2022	287	n/a
FYE Mar 2023	329	n/a
FYE Mar 2024	620	n/a
FYE Mar 2025	1,081	n/a
FYE Mar 2026	784	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 3,548¥

Change · 10 yrs +2,504¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,045	n/a
FYE Mar 2018	1,376	n/a
FYE Mar 2019	1,320	n/a
FYE Mar 2020	845	n/a
FYE Mar 2021	1,453	n/a
FYE Mar 2022	1,241	n/a
FYE Mar 2023	1,422	n/a
FYE Mar 2024	2,686	n/a
FYE Mar 2025	4,763	n/a
FYE Mar 2026	3,548	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 221,000,000shares

Change · 10 yrs −18,000,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	239,000,000	Parent
FYE Mar 2018	235,000,000	Parent
FYE Mar 2019	235,000,000	Parent
FYE Mar 2020	231,000,000	Parent
FYE Mar 2021	231,000,000	Parent
FYE Mar 2022	231,000,000	Parent
FYE Mar 2023	231,000,000	Parent
FYE Mar 2024	231,000,000	Parent
FYE Mar 2025	227,000,000	Parent
FYE Mar 2026	221,000,000	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 281.61¥

Change · 10 yrs +207.00¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	74.61	Cons.
FYE Mar 2018	80.97	Cons.
FYE Mar 2019	92.95	Cons.
FYE Mar 2020	97.14	Cons.
FYE Mar 2021	96.21	Cons.
FYE Mar 2022	103.40	Cons.
FYE Mar 2023	149.71	Cons.
FYE Mar 2024	196.03	Cons.
FYE Mar 2025	264.61	Cons.
FYE Mar 2026	281.61	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 1,577.19¥

Change · 10 yrs +994.70¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	582.49	Cons. · Japanese GAAP
FYE Mar 2018	639.56	Cons. · Japanese GAAP
FYE Mar 2019	684.13	Cons. · Japanese GAAP
FYE Mar 2020	711.46	Cons. · Japanese GAAP
FYE Mar 2021	779.68	Cons. · Japanese GAAP
FYE Mar 2022	874.18	Cons. · Japanese GAAP
FYE Mar 2023	1,042.91	Cons. · Japanese GAAP
FYE Mar 2024	1,228.63	Cons. · Japanese GAAP
FYE Mar 2025	1,419.13	Cons. · Japanese GAAP
FYE Mar 2026	1,577.19	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 12.60×

Average · 10 yrs 13.48×

Fiscal year	PER ×	Basis
FYE Mar 2017	14.00	Cons.
FYE Mar 2018	17.00	Cons.
FYE Mar 2019	14.20	Cons.
FYE Mar 2020	8.70	Cons.
FYE Mar 2021	15.10	Cons.
FYE Mar 2022	12.00	Cons.
FYE Mar 2023	9.50	Cons.
FYE Mar 2024	13.70	Cons.
FYE Mar 2025	18.00	Cons.
FYE Mar 2026	12.60	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 2.14×

Average · 10 yrs 1.86×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.72	Cons.
FYE Mar 2018	2.06	Cons.
FYE Mar 2019	1.85	Cons.
FYE Mar 2020	1.14	Cons.
FYE Mar 2021	1.78	Cons.
FYE Mar 2022	1.36	Cons.
FYE Mar 2023	1.31	Cons.
FYE Mar 2024	2.07	Cons.
FYE Mar 2025	3.18	Cons.
FYE Mar 2026	2.14	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 13,174people

Change · 10 yrs +4,123 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	9,051	n/a	Cons.
FYE Mar 2018	9,643	+6.5%	Cons.
FYE Mar 2019	10,151	+5.3%	Cons.
FYE Mar 2020	11,474	+13.0%	Cons.
FYE Mar 2021	11,540	+0.6%	Cons.
FYE Mar 2022	12,785	+10.8%	Cons.
FYE Mar 2023	12,773	−0.1%	Cons.
FYE Mar 2024	12,930	+1.2%	Cons.
FYE Mar 2025	13,116	+1.4%	Cons.
FYE Mar 2026	13,174	+0.4%	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 41people

Change · 10 yrs −18 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	59	n/a	Parent
FYE Mar 2018	60	+1.7%	Parent
FYE Mar 2019	60	−0.0%	Parent
FYE Mar 2020	51	−15.0%	Parent
FYE Mar 2021	41	−19.6%	Parent
FYE Mar 2022	45	+9.8%	Parent
FYE Mar 2023	42	−6.7%	Parent
FYE Mar 2024	38	−9.5%	Parent
FYE Mar 2025	36	−5.3%	Parent
FYE Mar 2026	41	+13.9%	Parent

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

Average annual pay parent company

FYE Mar 2026 ¥10.6m

Change · 8 yrs +¥0.3m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	10.3	n/a	Parent
FYE Mar 2020	10.3	+0.2%	Parent
FYE Mar 2021	10.1	−1.4%	Parent
FYE Mar 2022	9.9	−2.2%	Parent
FYE Mar 2023	8.8	−11.5%	Parent
FYE Mar 2024	8.5	−3.0%	Parent
FYE Mar 2025	10.0	+17.5%	Parent
FYE Mar 2026	10.6	+5.8%	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 45.0years

Change · 8 yrs +1.0 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	44.0	n/a	Parent
FYE Mar 2020	43.0	−2.3%	Parent
FYE Mar 2021	45.0	+4.7%	Parent
FYE Mar 2022	45.0	−0.0%	Parent
FYE Mar 2023	44.0	−2.2%	Parent
FYE Mar 2024	43.0	−2.3%	Parent
FYE Mar 2025	44.0	+2.3%	Parent
FYE Mar 2026	45.0	+2.3%	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 17.0years

Change · 8 yrs +2.0 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	15.0	n/a	Parent
FYE Mar 2020	16.0	+6.7%	Parent
FYE Mar 2021	18.0	+12.5%	Parent
FYE Mar 2022	17.0	−5.6%	Parent
FYE Mar 2023	17.0	−0.0%	Parent
FYE Mar 2024	16.0	−5.9%	Parent
FYE Mar 2025	17.0	+6.3%	Parent
FYE Mar 2026	17.0	−0.0%	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)

Temporary employees

FYE Mar 2026 2,080people

Change · 10 yrs +770 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	1,310	n/a	n/a
FYE Mar 2018	1,365	+4.2%	n/a
FYE Mar 2019	1,459	+6.9%	n/a
FYE Mar 2020	1,710	+17.2%	n/a
FYE Mar 2021	1,721	+0.6%	n/a
FYE Mar 2022	1,851	+7.6%	n/a
FYE Mar 2023	2,000	+8.0%	n/a
FYE Mar 2024	2,143	+7.2%	n/a
FYE Mar 2025	2,095	−2.2%	n/a
FYE Mar 2026	2,080	−0.7%	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 ¥50.2m

Change · 10 yrs +¥11.0m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	39.1	n/a	Cons.
FYE Mar 2018	40.0	+2.3%	Cons.
FYE Mar 2019	40.4	+1.0%	Cons.
FYE Mar 2020	38.4	−5.0%	Cons.
FYE Mar 2021	37.0	−3.5%	Cons.
FYE Mar 2022	36.7	−0.9%	Cons.
FYE Mar 2023	46.0	+25.5%	Cons.
FYE Mar 2024	47.3	+2.6%	Cons.
FYE Mar 2025	50.5	+6.9%	Cons.
FYE Mar 2026	50.2	−0.7%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥6.0m

Change · 10 yrs +¥3.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.9	n/a	Cons.
FYE Mar 2018	2.9	+0.5%	Cons.
FYE Mar 2019	3.1	+6.0%	Cons.
FYE Mar 2020	3.0	−4.2%	Cons.
FYE Mar 2021	2.9	−3.9%	Cons.
FYE Mar 2022	2.8	−3.2%	Cons.
FYE Mar 2023	4.4	+58.8%	Cons.
FYE Mar 2024	5.1	+14.7%	Cons.
FYE Mar 2025	6.1	+21.4%	Cons.
FYE Mar 2026	6.0	−2.2%	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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