Financials

Japan Post Holdings: FYE Mar 2013 and ten years of results (47 metrics)

FYE Mar 2026 · Revenue¥11.4tnYoY −0.2%

FYE Mar 2026 · Operating profit¥1.07tnYoY +32.0%

FYE Mar 2026 · Net profit¥375bnYoY +1.1%

FYE Mar 2026 · Equity ratio3.4%YoY +0.3pp

FYE Mar 2026 · Group employees224,438YoY +5,720

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥13.3tn	n/a	¥795bn	n/a	6.0%	-¥29bn	Nagato Masatsugu	—
FYE Mar 2018Consolidated	¥12.9tn	−3.0%	¥916bn	+15.2%	7.1%	¥461bn	Nagato Masatsugu	Toll written down; first net loss since privatization
FYE Mar 2019Consolidated	¥12.8tn	−1.1%	¥831bn	−9.3%	6.5%	¥479bn	Nagato Masatsugu	Strategic alliance with Aflac
FYE Mar 2020Consolidated	¥12.0tn	−6.5%	¥864bn	+4.1%	7.2%	¥484bn	Nagato Masatsugu	Insurance mis-selling scandal
FYE Mar 2021Consolidated	¥11.7tn	−1.9%	¥914bn	+5.8%	7.8%	¥418bn	Nagato Masatsugu	<a class="en-history_person" href="/tse/6178/executives/ceo/masuda-hiroya/" hreflang="ja">Masuda Hiroya</a> becomes president
FYE Mar 2022Consolidated	¥11.3tn	−3.9%	¥991bn	+8.5%	8.8%	¥502bn	Masuda Hiroya	Rakuten alliance; <span class="en-history_money" data-yen="150000000000" data-year="2021">$1.4B (¥150bn)</span> invested
FYE Mar 2023Consolidated	¥11.1tn	−1.1%	¥658bn	−33.7%	5.9%	¥431bn	Masuda Hiroya	All three companies move to the TSE Prime Market
FYE Mar 2024Consolidated	¥12.0tn	+7.6%	¥668bn	+1.6%	5.6%	¥269bn	Masuda Hiroya	—
FYE Mar 2025Consolidated	¥11.5tn	−4.3%	¥815bn	+21.9%	7.1%	¥371bn	Masuda Hiroya	First postage increase in 30 years
FYE Mar 2026Consolidated	¥11.4tn	−0.2%	¥1.07tn	+32.0%	9.4%	¥375bn	Masuda Hiroya	Tonami Holdings acquired; Logisteed alliance

How it compares

Japan Post Holdings¥11.4tnFY2025Operating margin 9.4%

Yamato Holdings¥1.87tnFY2025Operating margin 1.5%SG Holdings (Sagawa)¥1.64tnFY2025Operating margin 5.5%

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 ¥11.4tn

CAGR · 10 yrs −1.7%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	13,327	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12,920	−3.0%	Cons. · Japanese GAAP
FYE Mar 2019	12,775	−1.1%	Cons. · Japanese GAAP
FYE Mar 2020	11,950	−6.5%	Cons. · Japanese GAAP
FYE Mar 2021	11,720	−1.9%	Cons. · Japanese GAAP
FYE Mar 2022	11,265	−3.9%	Cons. · Japanese GAAP
FYE Mar 2023	11,139	−1.1%	Cons. · Japanese GAAP
FYE Mar 2024	11,982	+7.6%	Cons. · Japanese GAAP
FYE Mar 2025	11,468	−4.3%	Cons. · Japanese GAAP
FYE Mar 2026	11,441	−0.2%	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 ¥10.4tn

CAGR · 10 yrs −2.1%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	12,531	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12,004	−4.2%	Cons. · Japanese GAAP
FYE Mar 2019	11,944	−0.5%	Cons. · Japanese GAAP
FYE Mar 2020	11,086	−7.2%	Cons. · Japanese GAAP
FYE Mar 2021	10,806	−2.5%	Cons. · Japanese GAAP
FYE Mar 2022	10,273	−4.9%	Cons. · Japanese GAAP
FYE Mar 2023	10,481	+2.0%	Cons. · Japanese GAAP
FYE Mar 2024	11,314	+7.9%	Cons. · Japanese GAAP
FYE Mar 2025	10,654	−5.8%	Cons. · Japanese GAAP
FYE Mar 2026	10,366	−2.7%	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 ¥1.07tn

CAGR · 10 yrs +3.4%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	795	n/a	Cons. · Japanese GAAP
FYE Mar 2018	916	+15.2%	Cons. · Japanese GAAP
FYE Mar 2019	831	−9.3%	Cons. · Japanese GAAP
FYE Mar 2020	864	+4.1%	Cons. · Japanese GAAP
FYE Mar 2021	914	+5.8%	Cons. · Japanese GAAP
FYE Mar 2022	991	+8.5%	Cons. · Japanese GAAP
FYE Mar 2023	658	−33.7%	Cons. · Japanese GAAP
FYE Mar 2024	668	+1.6%	Cons. · Japanese GAAP
FYE Mar 2025	815	+21.9%	Cons. · Japanese GAAP
FYE Mar 2026	1,075	+32.0%	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 ¥0.0m

Average · 10 yrs ¥0.6m

Fiscal year	SG&A ¥ m	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	1.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2021	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	1.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2024	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	1.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2026	0.0	−100.0%	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 ¥1.07tn

CAGR · 10 yrs +3.4%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	795	n/a	Cons. · Japanese GAAP
FYE Mar 2018	916	+15.2%	Cons. · Japanese GAAP
FYE Mar 2019	831	−9.3%	Cons. · Japanese GAAP
FYE Mar 2020	864	+4.1%	Cons. · Japanese GAAP
FYE Mar 2021	914	+5.8%	Cons. · Japanese GAAP
FYE Mar 2022	991	+8.5%	Cons. · Japanese GAAP
FYE Mar 2023	658	−33.7%	Cons. · Japanese GAAP
FYE Mar 2024	668	+1.6%	Cons. · Japanese GAAP
FYE Mar 2025	815	+21.9%	Cons. · Japanese GAAP
FYE Mar 2026	1,075	+32.0%	Cons. · Japanese GAAP

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

Ordinary profit keijo rieki

FYE Mar 2026 ¥1.07tn

CAGR · 10 yrs +3.4%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	795	n/a	Cons. · Japanese GAAP
FYE Mar 2018	916	+15.2%	Cons. · Japanese GAAP
FYE Mar 2019	831	−9.3%	Cons. · Japanese GAAP
FYE Mar 2020	864	+4.1%	Cons. · Japanese GAAP
FYE Mar 2021	914	+5.8%	Cons. · Japanese GAAP
FYE Mar 2022	991	+8.5%	Cons. · Japanese GAAP
FYE Mar 2023	658	−33.7%	Cons. · Japanese GAAP
FYE Mar 2024	668	+1.6%	Cons. · Japanese GAAP
FYE Mar 2025	815	+21.9%	Cons. · Japanese GAAP
FYE Mar 2026	1,075	+32.0%	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 ¥132bn

CAGR · 10 yrs +32.8%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	10.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	92.1	+797.4%	Cons. · Japanese GAAP
FYE Mar 2019	29.4	−68.1%	Cons. · Japanese GAAP
FYE Mar 2020	50.9	+73.2%	Cons. · Japanese GAAP
FYE Mar 2021	13.7	−73.1%	Cons. · Japanese GAAP
FYE Mar 2022	29.4	+114.9%	Cons. · Japanese GAAP
FYE Mar 2023	112	+281.2%	Cons. · Japanese GAAP
FYE Mar 2024	28.4	−74.7%	Cons. · Japanese GAAP
FYE Mar 2025	53.1	+87.0%	Cons. · Japanese GAAP
FYE Mar 2026	132	+147.9%	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 ¥375bn

Average · 10 yrs ¥376bn

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	-29.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	461	n/a	Cons. · Japanese GAAP
FYE Mar 2019	479	+4.1%	Cons. · Japanese GAAP
FYE Mar 2020	484	+0.9%	Cons. · Japanese GAAP
FYE Mar 2021	418	−13.5%	Cons. · Japanese GAAP
FYE Mar 2022	502	+20.0%	Cons. · Japanese GAAP
FYE Mar 2023	431	−14.1%	Cons. · Japanese GAAP
FYE Mar 2024	269	−37.7%	Cons. · Japanese GAAP
FYE Mar 2025	371	+37.9%	Cons. · Japanese GAAP
FYE Mar 2026	375	+1.1%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 9.4%

Average · 10 yrs 7.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.1	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	6.5	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	7.2	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	7.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	8.8	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	5.9	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	5.6	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	7.1	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	9.4	+2.3pp	Cons. · Japanese GAAP

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

Operating margin

FYE Mar 2026 9.4%

Average · 10 yrs 7.1%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.1	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	6.5	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	7.2	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	7.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	8.8	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	5.9	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	5.6	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	7.1	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	9.4	+2.3pp	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 9.4%

Average · 10 yrs 7.1%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.1	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	6.5	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	7.2	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	7.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	8.8	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	5.9	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	5.6	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	7.1	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	9.4	+2.3pp	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 3.3%

Average · 10 yrs 3.2%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	-0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.6	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2019	3.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	4.0	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	3.6	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	4.5	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	3.9	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	2.2	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	3.2	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	3.3	−0.0pp	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 90.6%

Average · 10 yrs 92.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	94.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	92.9	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	93.5	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	92.8	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	92.2	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	91.2	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	94.1	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	94.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	92.9	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	90.6	−2.3pp	Cons. · Japanese GAAP

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

SG&A ratio

FYE Mar 2026 0.0%

Average · 10 yrs 0.0%

Fiscal year	YoY	Basis
FYE Mar 2017	n/a	Cons. · Japanese GAAP
FYE Mar 2018	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2023	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	−0.0pp	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 ¥289.9tn

CAGR · 10 yrs −0.1%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	293,163	n/a	Cons. · Japanese GAAP
FYE Mar 2018	290,640	−0.9%	Cons. · Japanese GAAP
FYE Mar 2019	286,171	−1.5%	Cons. · Japanese GAAP
FYE Mar 2020	286,098	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	297,738	+4.1%	Cons. · Japanese GAAP
FYE Mar 2022	303,847	+2.1%	Cons. · Japanese GAAP
FYE Mar 2023	296,094	−2.6%	Cons. · Japanese GAAP
FYE Mar 2024	298,689	+0.9%	Cons. · Japanese GAAP
FYE Mar 2025	297,150	−0.5%	Cons. · Japanese GAAP
FYE Mar 2026	289,865	−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 ¥9.71tn

CAGR · 10 yrs −3.6%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	13,452	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13,254	−1.5%	Cons. · Japanese GAAP
FYE Mar 2019	13,294	+0.3%	Cons. · Japanese GAAP
FYE Mar 2020	10,934	−17.7%	Cons. · Japanese GAAP
FYE Mar 2021	13,794	+26.2%	Cons. · Japanese GAAP
FYE Mar 2022	12,309	−10.8%	Cons. · Japanese GAAP
FYE Mar 2023	10,076	−18.1%	Cons. · Japanese GAAP
FYE Mar 2024	10,266	+1.9%	Cons. · Japanese GAAP
FYE Mar 2025	9,090	−11.5%	Cons. · Japanese GAAP
FYE Mar 2026	9,715	+6.9%	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 ¥585bn

Average · 9 yrs ¥307bn

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	100	n/a	Cons. · Japanese GAAP
FYE Mar 2020	100	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	300	+200.0%	Cons. · Japanese GAAP
FYE Mar 2022	300	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	335	+11.7%	Cons. · Japanese GAAP
FYE Mar 2024	461	+37.6%	Cons. · Japanese GAAP
FYE Mar 2025	585	+27.0%	Cons. · Japanese GAAP
FYE Mar 2026	585	−0.0%	Cons. · Japanese GAAP

Definition: Borrowings the company pays interest on
Formula: Loans + bonds + lease obligations
Source: Securities report (XBRL)

Long-term borrowings

FYE Mar 2026 ¥585bn

CAGR · 8 yrs +28.7%

Fiscal year	Long-term borrowings ¥ 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	100	n/a	Cons. · Japanese GAAP
FYE Mar 2020	100	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	300	+200.0%	Cons. · Japanese GAAP
FYE Mar 2022	300	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	335	+11.7%	Cons. · Japanese GAAP
FYE Mar 2024	461	+37.6%	Cons. · Japanese GAAP
FYE Mar 2025	585	+27.0%	Cons. · Japanese GAAP
FYE Mar 2026	585	−0.0%	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 ¥326bn

CAGR · 10 yrs −0.6%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	346	n/a	Cons. · Japanese GAAP
FYE Mar 2018	330	−4.6%	Cons. · Japanese GAAP
FYE Mar 2019	322	−2.4%	Cons. · Japanese GAAP
FYE Mar 2020	292	−9.4%	Cons. · Japanese GAAP
FYE Mar 2021	240	−17.7%	Cons. · Japanese GAAP
FYE Mar 2022	225	−6.4%	Cons. · Japanese GAAP
FYE Mar 2023	267	+18.6%	Cons. · Japanese GAAP
FYE Mar 2024	299	+11.9%	Cons. · Japanese GAAP
FYE Mar 2025	324	+8.5%	Cons. · Japanese GAAP
FYE Mar 2026	326	+0.8%	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 ¥2.2bn

CAGR · 10 yrs −3.5%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	3.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.9	−5.5%	Cons. · Japanese GAAP
FYE Mar 2019	2.7	−5.8%	Cons. · Japanese GAAP
FYE Mar 2020	2.6	−6.2%	Cons. · Japanese GAAP
FYE Mar 2021	2.4	−6.5%	Cons. · Japanese GAAP
FYE Mar 2022	8.9	+273.7%	Cons. · Japanese GAAP
FYE Mar 2023	6.9	−22.2%	Cons. · Japanese GAAP
FYE Mar 2024	4.9	−28.6%	Cons. · Japanese GAAP
FYE Mar 2025	3.0	−40.0%	Cons. · Japanese GAAP
FYE Mar 2026	2.2	−25.1%	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 3.4%

Average · 10 yrs 4.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	4.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	4.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	3.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	4.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	4.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	3.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	3.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	3.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	3.4	+0.3pp	Cons. · Japanese GAAP

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

Debt-to-equity ratio D/E ratio

FYE Mar 2026 6.0%

Average · 9 yrs 3.0%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	0.8	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	0.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	2.2	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	2.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	3.3	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	4.5	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2025	6.4	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	6.0	−0.4pp	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 3.9%

Average · 10 yrs 3.3%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	-0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.5	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2019	3.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	4.4	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	3.0	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2022	4.1	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	4.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	2.6	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	4.1	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	3.9	−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 0.1%

Average · 10 yrs 0.1%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	-0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	0.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	0.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	0.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	0.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2023	0.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	0.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	0.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	0.1	−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 0.04×

CAGR · 10 yrs −1.6%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.05	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.04	−2.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.04	+0.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.04	−6.4%	Cons. · Japanese GAAP
FYE Mar 2021	0.04	−5.8%	Cons. · Japanese GAAP
FYE Mar 2022	0.04	−5.8%	Cons. · Japanese GAAP
FYE Mar 2023	0.04	+1.5%	Cons. · Japanese GAAP
FYE Mar 2024	0.04	+6.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.04	−3.8%	Cons. · Japanese GAAP
FYE Mar 2026	0.04	+2.3%	Cons. · Japanese GAAP

Definition: How much revenue each yen of assets produces
Formula: Revenue ÷ total assets
Source: Securities report (XBRL)

Cash flow statement Cash from operations, investment and financing, and what is left on hand

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 -¥10.3tn

Average · 10 yrs -¥1.27tn

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-991	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-2,337	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-3,610	n/a	Cons. · Japanese GAAP
FYE Mar 2020	306	n/a	Cons. · Japanese GAAP
FYE Mar 2021	6,965	+2177.3%	Cons. · Japanese GAAP
FYE Mar 2022	4,984	−28.4%	Cons. · Japanese GAAP
FYE Mar 2023	-8,154	−263.6%	Cons. · Japanese GAAP
FYE Mar 2024	-2,359	n/a	Cons. · Japanese GAAP
FYE Mar 2025	2,795	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-10,338	−469.9%	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 ¥669bn

CAGR · 10 yrs −22.1%

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	6,301	n/a	Cons. · Japanese GAAP
FYE Mar 2018	99.0	−98.4%	Cons. · Japanese GAAP
FYE Mar 2019	5,186	+5137.8%	Cons. · Japanese GAAP
FYE Mar 2020	1,040	−79.9%	Cons. · Japanese GAAP
FYE Mar 2021	2,015	+93.7%	Cons. · Japanese GAAP
FYE Mar 2022	1,413	−29.9%	Cons. · Japanese GAAP
FYE Mar 2023	9,352	+561.8%	Cons. · Japanese GAAP
FYE Mar 2024	-7,719	−182.5%	Cons. · Japanese GAAP
FYE Mar 2025	4,684	n/a	Cons. · Japanese GAAP
FYE Mar 2026	669	−85.7%	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 -¥623bn

Average · 10 yrs -¥156bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-225	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-292	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-111	n/a	Cons. · Japanese GAAP
FYE Mar 2020	99.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	50.6	−48.9%	Cons. · Japanese GAAP
FYE Mar 2022	-621	−1327.9%	Cons. · Japanese GAAP
FYE Mar 2023	553	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-606	−209.7%	Cons. · Japanese GAAP
FYE Mar 2025	216	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-623	−388.5%	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 ¥56.9tn

CAGR · 10 yrs +0.7%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	53,226	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50,695	−4.8%	Cons. · Japanese GAAP
FYE Mar 2019	52,160	+2.9%	Cons. · Japanese GAAP
FYE Mar 2020	53,604	+2.8%	Cons. · Japanese GAAP
FYE Mar 2021	62,638	+16.9%	Cons. · Japanese GAAP
FYE Mar 2022	68,419	+9.2%	Cons. · Japanese GAAP
FYE Mar 2023	70,181	+2.6%	Cons. · Japanese GAAP
FYE Mar 2024	59,504	−15.2%	Cons. · Japanese GAAP
FYE Mar 2025	67,199	+12.9%	Cons. · Japanese GAAP
FYE Mar 2026	56,910	−15.3%	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 -¥9.67tn

Average · 10 yrs ¥1.03tn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	5,310	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-2,238	−142.2%	Cons. · Japanese GAAP
FYE Mar 2019	1,576	n/a	Cons. · Japanese GAAP
FYE Mar 2020	1,346	−14.6%	Cons. · Japanese GAAP
FYE Mar 2021	8,980	+567.0%	Cons. · Japanese GAAP
FYE Mar 2022	6,397	−28.8%	Cons. · Japanese GAAP
FYE Mar 2023	1,198	−81.3%	Cons. · Japanese GAAP
FYE Mar 2024	-10,078	−941.3%	Cons. · Japanese GAAP
FYE Mar 2025	7,479	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-9,669	−229.3%	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 -90.4%

Average · 10 yrs -10.6%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	-7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-18.1	−10.7pp	Cons. · Japanese GAAP
FYE Mar 2019	-28.3	−10.2pp	Cons. · Japanese GAAP
FYE Mar 2020	2.6	+30.8pp	Cons. · Japanese GAAP
FYE Mar 2021	59.4	+56.9pp	Cons. · Japanese GAAP
FYE Mar 2022	44.2	−15.2pp	Cons. · Japanese GAAP
FYE Mar 2023	-73.2	−117.5pp	Cons. · Japanese GAAP
FYE Mar 2024	-19.7	+53.5pp	Cons. · Japanese GAAP
FYE Mar 2025	24.4	+44.1pp	Cons. · Japanese GAAP
FYE Mar 2026	-90.4	−114.7pp	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 ¥56.3tn

CAGR · 9 yrs +1.3%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50,695	n/a	Cons. · Japanese GAAP
FYE Mar 2019	52,060	+2.7%	Cons. · Japanese GAAP
FYE Mar 2020	53,504	+2.8%	Cons. · Japanese GAAP
FYE Mar 2021	62,338	+16.5%	Cons. · Japanese GAAP
FYE Mar 2022	68,119	+9.3%	Cons. · Japanese GAAP
FYE Mar 2023	69,846	+2.5%	Cons. · Japanese GAAP
FYE Mar 2024	59,043	−15.5%	Cons. · Japanese GAAP
FYE Mar 2025	66,614	+12.8%	Cons. · Japanese GAAP
FYE Mar 2026	56,325	−15.4%	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 ¥5.34tn

Change · 9 yrs −¥408bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	n/a	n/a
FYE Mar 2018	5,745	n/a
FYE Mar 2019	5,816	n/a
FYE Mar 2020	3,822	n/a
FYE Mar 2021	4,422	n/a
FYE Mar 2022	3,380	n/a
FYE Mar 2023	3,933	n/a
FYE Mar 2024	5,306	n/a
FYE Mar 2025	4,781	n/a
FYE Mar 2026	5,337	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 1,795¥

Change · 9 yrs +518¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	n/a	n/a
FYE Mar 2018	1,277	n/a
FYE Mar 2019	1,292	n/a
FYE Mar 2020	849	n/a
FYE Mar 2021	983	n/a
FYE Mar 2022	897	n/a
FYE Mar 2023	1,075	n/a
FYE Mar 2024	1,533	n/a
FYE Mar 2025	1,491	n/a
FYE Mar 2026	1,795	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 2,972,934,000shares

Change · 10 yrs −1,527,066,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	4,500,000,000	Parent
FYE Mar 2018	4,500,000,000	Parent
FYE Mar 2019	4,500,000,000	Parent
FYE Mar 2020	4,500,000,000	Parent
FYE Mar 2021	4,500,000,000	Parent
FYE Mar 2022	3,767,870,000	Parent
FYE Mar 2023	3,657,797,000	Parent
FYE Mar 2024	3,461,049,000	Parent
FYE Mar 2025	3,206,240,000	Parent
FYE Mar 2026	2,972,934,000	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 129.14¥

Change · 10 yrs +136.18¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	-7.04	Cons.
FYE Mar 2018	112.97	Cons.
FYE Mar 2019	118.57	Cons.
FYE Mar 2020	119.64	Cons.
FYE Mar 2021	103.44	Cons.
FYE Mar 2022	131.93	Cons.
FYE Mar 2023	120.82	Cons.
FYE Mar 2024	80.26	Cons.
FYE Mar 2025	119.30	Cons.
FYE Mar 2026	129.14	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 3,267.65¥

Change · 10 yrs +278.37¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	2,989.28	Cons. · Japanese GAAP
FYE Mar 2018	2,945.32	Cons. · Japanese GAAP
FYE Mar 2019	2,954.11	Cons. · Japanese GAAP
FYE Mar 2020	2,429.81	Cons. · Japanese GAAP
FYE Mar 2021	3,065.41	Cons. · Japanese GAAP
FYE Mar 2022	3,266.94	Cons. · Japanese GAAP
FYE Mar 2023	2,754.53	Cons. · Japanese GAAP
FYE Mar 2024	2,966.06	Cons. · Japanese GAAP
FYE Mar 2025	2,834.96	Cons. · Japanese GAAP
FYE Mar 2026	3,267.65	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 13.90×

Average · 9 yrs 11.11×

Fiscal year	PER ×	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	11.30	Cons.
FYE Mar 2019	10.90	Cons.
FYE Mar 2020	7.10	Cons.
FYE Mar 2021	9.50	Cons.
FYE Mar 2022	6.80	Cons.
FYE Mar 2023	8.90	Cons.
FYE Mar 2024	19.10	Cons.
FYE Mar 2025	12.50	Cons.
FYE Mar 2026	13.90	Cons.

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

PBR price-to-book ratio

FYE Mar 2026 0.52×

Average · 9 yrs 0.39×

Fiscal year	PBR ×	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	0.39	Cons.
FYE Mar 2019	0.39	Cons.
FYE Mar 2020	0.31	Cons.
FYE Mar 2021	0.29	Cons.
FYE Mar 2022	0.27	Cons.
FYE Mar 2023	0.37	Cons.
FYE Mar 2024	0.48	Cons.
FYE Mar 2025	0.49	Cons.
FYE Mar 2026	0.52	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 224,438people

Change · 10 yrs −23,946 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	248,384	n/a	Cons.
FYE Mar 2018	245,863	−1.0%	Cons.
FYE Mar 2019	245,922	−0.0%	Cons.
FYE Mar 2020	245,472	−0.2%	Cons.
FYE Mar 2021	243,612	−0.8%	Cons.
FYE Mar 2022	232,112	−4.7%	Cons.
FYE Mar 2023	227,369	−2.0%	Cons.
FYE Mar 2024	221,387	−2.6%	Cons.
FYE Mar 2025	218,718	−1.2%	Cons.
FYE Mar 2026	224,438	+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 1,261people

Change · 10 yrs −1,500 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	2,761	n/a	Parent
FYE Mar 2018	2,422	−12.3%	Parent
FYE Mar 2019	2,106	−13.0%	Parent
FYE Mar 2020	2,031	−3.6%	Parent
FYE Mar 2021	2,039	+0.4%	Parent
FYE Mar 2022	1,994	−2.2%	Parent
FYE Mar 2023	1,485	−25.5%	Parent
FYE Mar 2024	1,533	+3.2%	Parent
FYE Mar 2025	1,235	−19.4%	Parent
FYE Mar 2026	1,261	+2.1%	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 ¥8.7m

Change · 10 yrs +¥1.0m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	7.7	n/a	Parent
FYE Mar 2018	7.6	−1.1%	Parent
FYE Mar 2019	7.8	+2.6%	Parent
FYE Mar 2020	8.0	+2.3%	Parent
FYE Mar 2021	7.9	−1.3%	Parent
FYE Mar 2022	8.0	+1.3%	Parent
FYE Mar 2023	8.4	+5.3%	Parent
FYE Mar 2024	8.7	+3.2%	Parent
FYE Mar 2025	8.6	−0.3%	Parent
FYE Mar 2026	8.7	+0.9%	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 43.1years

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	43.9	n/a	Parent
FYE Mar 2020	43.9	−0.0%	Parent
FYE Mar 2021	44.3	+0.9%	Parent
FYE Mar 2022	45.1	+1.8%	Parent
FYE Mar 2023	44.9	−0.4%	Parent
FYE Mar 2024	45.3	+0.9%	Parent
FYE Mar 2025	43.3	−4.4%	Parent
FYE Mar 2026	43.1	−0.5%	Parent

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

Average length of service

FYE Mar 2026 15.9years

Change · 10 yrs −0.4 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	16.3	n/a	Parent
FYE Mar 2018	16.6	+1.8%	Parent
FYE Mar 2019	17.3	+4.2%	Parent
FYE Mar 2020	17.0	−1.7%	Parent
FYE Mar 2021	17.4	+2.4%	Parent
FYE Mar 2022	17.9	+2.9%	Parent
FYE Mar 2023	18.2	+1.7%	Parent
FYE Mar 2024	18.3	+0.5%	Parent
FYE Mar 2025	16.2	−11.5%	Parent
FYE Mar 2026	15.9	−1.9%	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 131,493people

Change · 10 yrs −35,924 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	167,417	n/a	n/a
FYE Mar 2018	165,215	−1.3%	n/a
FYE Mar 2019	161,566	−2.2%	n/a
FYE Mar 2020	154,529	−4.4%	n/a
FYE Mar 2021	147,163	−4.8%	n/a
FYE Mar 2022	144,935	−1.5%	n/a
FYE Mar 2023	142,436	−1.7%	n/a
FYE Mar 2024	136,219	−4.4%	n/a
FYE Mar 2025	133,920	−1.7%	n/a
FYE Mar 2026	131,493	−1.8%	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 ¥51.0m

Change · 10 yrs −¥2.7m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	53.7	n/a	Cons.
FYE Mar 2018	52.6	−2.1%	Cons.
FYE Mar 2019	51.9	−1.1%	Cons.
FYE Mar 2020	48.7	−6.3%	Cons.
FYE Mar 2021	48.1	−1.2%	Cons.
FYE Mar 2022	48.5	+0.9%	Cons.
FYE Mar 2023	49.0	+0.9%	Cons.
FYE Mar 2024	54.1	+10.5%	Cons.
FYE Mar 2025	52.4	−3.1%	Cons.
FYE Mar 2026	51.0	−2.8%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥4.8m

Change · 10 yrs +¥1.6m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons.
FYE Mar 2018	3.7	+16.4%	Cons.
FYE Mar 2019	3.4	−9.3%	Cons.
FYE Mar 2020	3.5	+4.3%	Cons.
FYE Mar 2021	3.8	+6.6%	Cons.
FYE Mar 2022	4.3	+13.8%	Cons.
FYE Mar 2023	2.9	−32.3%	Cons.
FYE Mar 2024	3.0	+4.4%	Cons.
FYE Mar 2025	3.7	+23.4%	Cons.
FYE Mar 2026	4.8	+28.6%	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 →

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