Financials

Fuji Electric: FYE Mar 2026 and ten years of results (52 metrics)

FYE Mar 2026 · Revenue¥1.23tnYoY +9.3%

FYE Mar 2026 · Operating profit¥137bnYoY +16.1%

FYE Mar 2026 · Net profit¥98bnYoY +6.3%

FYE Mar 2026 · Equity ratio56.9%YoY +4.2pp

FYE Mar 2026 · Group employees26,955YoY −436

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥838bn	n/a	¥45bn	n/a	5.3%	¥41bn	Kitazawa Michihiro	—
FYE Mar 2018Consolidated	¥893bn	+6.6%	¥56bn	+25.2%	6.3%	¥38bn	Kitazawa Michihiro	—
FYE Mar 2019Consolidated	¥915bn	+2.4%	¥60bn	+7.2%	6.6%	¥40bn	Kitazawa Michihiro	—
FYE Mar 2020Consolidated	¥901bn	−1.6%	¥43bn	−29.1%	4.7%	¥29bn	Kitazawa Michihiro	—
FYE Mar 2021Consolidated	¥876bn	−2.7%	¥49bn	+14.3%	5.5%	¥42bn	Kitazawa Michihiro	—
FYE Mar 2022Consolidated	¥910bn	+3.9%	¥75bn	+54.0%	8.2%	¥59bn	Kitazawa Michihiro	—
FYE Mar 2023Consolidated	¥1.01tn	+10.9%	¥89bn	+18.8%	8.8%	¥61bn	Kitazawa Michihiro	—
FYE Mar 2024Consolidated	¥1.10tn	+9.3%	¥106bn	+19.3%	9.6%	¥75bn	Kondo Shiro	Sales pass ¥1 trillion for the first time
FYE Mar 2025Consolidated	¥1.12tn	+1.8%	¥118bn	+10.9%	10.5%	¥92bn	Kondo Shiro	Denso joint investment of <span class="en-history_money" data-yen="211600000000" data-year="2024">$1.4B (¥212bn)</span>; <a class="en-history_person" href="/tse/6504/executives/ceo/kondo-shiro/" hreflang="ja">Kondo Shiro</a> becomes president
FYE Mar 2026Consolidated	¥1.23tn	+9.3%	¥137bn	+16.1%	11.1%	¥98bn	Kondo Shiro	Record year: net profit of <span class="en-history_money" data-yen="92200000000" data-year="2025">$616.1M (¥92bn)</span>

How it compares

Fuji Electric¥1.23tnFY2025Operating margin 11.1%

Meidensha¥326bnFY2025Operating margin 8.3%

DAIHEN¥238bnFY2025Operating margin 7.9%

SINFONIA TECHNOLOGY CO.,LTD.¥128bnFY2025Operating margin 14.4%

SANYO DENKI CO., LTD.¥107bnFY2025Operating margin 10.1%

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 ¥1.23tn

CAGR · 10 yrs +4.3%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	838	n/a	Cons. · Japanese GAAP
FYE Mar 2018	893	+6.6%	Cons. · Japanese GAAP
FYE Mar 2019	915	+2.4%	Cons. · Japanese GAAP
FYE Mar 2020	901	−1.6%	Cons. · Japanese GAAP
FYE Mar 2021	876	−2.7%	Cons. · Japanese GAAP
FYE Mar 2022	910	+3.9%	Cons. · Japanese GAAP
FYE Mar 2023	1,009	+10.9%	Cons. · Japanese GAAP
FYE Mar 2024	1,103	+9.3%	Cons. · Japanese GAAP
FYE Mar 2025	1,123	+1.8%	Cons. · Japanese GAAP
FYE Mar 2026	1,228	+9.3%	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 ¥884bn

CAGR · 10 yrs +3.9%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	624	n/a	Cons. · Japanese GAAP
FYE Mar 2018	662	+6.0%	Cons. · Japanese GAAP
FYE Mar 2019	680	+2.7%	Cons. · Japanese GAAP
FYE Mar 2020	680	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	655	−3.7%	Cons. · Japanese GAAP
FYE Mar 2022	658	+0.5%	Cons. · Japanese GAAP
FYE Mar 2023	733	+11.4%	Cons. · Japanese GAAP
FYE Mar 2024	800	+9.2%	Cons. · Japanese GAAP
FYE Mar 2025	806	+0.7%	Cons. · Japanese GAAP
FYE Mar 2026	884	+9.7%	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 ¥344bn

CAGR · 10 yrs +5.4%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	213	n/a	Cons. · Japanese GAAP
FYE Mar 2018	232	+8.5%	Cons. · Japanese GAAP
FYE Mar 2019	235	+1.5%	Cons. · Japanese GAAP
FYE Mar 2020	221	−6.2%	Cons. · Japanese GAAP
FYE Mar 2021	221	+0.3%	Cons. · Japanese GAAP
FYE Mar 2022	252	+14.1%	Cons. · Japanese GAAP
FYE Mar 2023	277	+9.7%	Cons. · Japanese GAAP
FYE Mar 2024	303	+9.5%	Cons. · Japanese GAAP
FYE Mar 2025	318	+4.8%	Cons. · Japanese GAAP
FYE Mar 2026	344	+8.2%	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 ¥207bn

CAGR · 10 yrs +2.3%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	169	n/a	Cons. · Japanese GAAP
FYE Mar 2018	176	+4.1%	Cons. · Japanese GAAP
FYE Mar 2019	175	−0.3%	Cons. · Japanese GAAP
FYE Mar 2020	178	+1.7%	Cons. · Japanese GAAP
FYE Mar 2021	173	−3.0%	Cons. · Japanese GAAP
FYE Mar 2022	178	+2.9%	Cons. · Japanese GAAP
FYE Mar 2023	188	+5.9%	Cons. · Japanese GAAP
FYE Mar 2024	197	+4.9%	Cons. · Japanese GAAP
FYE Mar 2025	200	+1.5%	Cons. · Japanese GAAP
FYE Mar 2026	207	+3.6%	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 ¥137bn

CAGR · 10 yrs +13.2%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	44.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	56.0	+25.2%	Cons. · Japanese GAAP
FYE Mar 2019	60.0	+7.2%	Cons. · Japanese GAAP
FYE Mar 2020	42.5	−29.1%	Cons. · Japanese GAAP
FYE Mar 2021	48.6	+14.3%	Cons. · Japanese GAAP
FYE Mar 2022	74.8	+54.0%	Cons. · Japanese GAAP
FYE Mar 2023	88.9	+18.8%	Cons. · Japanese GAAP
FYE Mar 2024	106	+19.3%	Cons. · Japanese GAAP
FYE Mar 2025	118	+10.9%	Cons. · Japanese GAAP
FYE Mar 2026	137	+16.1%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥8.1bn

CAGR · 10 yrs +6.1%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	4.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.7	−2.4%	Cons. · Japanese GAAP
FYE Mar 2019	6.0	+28.5%	Cons. · Japanese GAAP
FYE Mar 2020	5.5	−8.1%	Cons. · Japanese GAAP
FYE Mar 2021	6.0	+8.1%	Cons. · Japanese GAAP
FYE Mar 2022	7.3	+23.2%	Cons. · Japanese GAAP
FYE Mar 2023	5.9	−19.1%	Cons. · Japanese GAAP
FYE Mar 2024	7.9	+33.3%	Cons. · Japanese GAAP
FYE Mar 2025	7.3	−8.0%	Cons. · Japanese GAAP
FYE Mar 2026	8.1	+11.9%	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 ¥5.4bn

CAGR · 10 yrs +6.1%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.6	+43.4%	Cons. · Japanese GAAP
FYE Mar 2019	2.5	−45.8%	Cons. · Japanese GAAP
FYE Mar 2020	3.5	+41.2%	Cons. · Japanese GAAP
FYE Mar 2021	4.1	+18.2%	Cons. · Japanese GAAP
FYE Mar 2022	2.9	−30.8%	Cons. · Japanese GAAP
FYE Mar 2023	7.0	+144.1%	Cons. · Japanese GAAP
FYE Mar 2024	6.1	−12.1%	Cons. · Japanese GAAP
FYE Mar 2025	6.2	+0.1%	Cons. · Japanese GAAP
FYE Mar 2026	5.4	−11.5%	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 ¥139bn

CAGR · 10 yrs +13.0%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	46.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	56.0	+21.1%	Cons. · Japanese GAAP
FYE Mar 2019	63.5	+13.3%	Cons. · Japanese GAAP
FYE Mar 2020	44.5	−29.9%	Cons. · Japanese GAAP
FYE Mar 2021	50.4	+13.2%	Cons. · Japanese GAAP
FYE Mar 2022	79.3	+57.3%	Cons. · Japanese GAAP
FYE Mar 2023	87.8	+10.7%	Cons. · Japanese GAAP
FYE Mar 2024	108	+22.8%	Cons. · Japanese GAAP
FYE Mar 2025	119	+10.1%	Cons. · Japanese GAAP
FYE Mar 2026	139	+17.3%	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 ¥5.6bn

CAGR · 10 yrs −13.1%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	19.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.9	−90.4%	Cons. · Japanese GAAP
FYE Mar 2019	2.5	+29.0%	Cons. · Japanese GAAP
FYE Mar 2020	2.8	+13.1%	Cons. · Japanese GAAP
FYE Mar 2021	41.1	+1384.8%	Cons. · Japanese GAAP
FYE Mar 2022	10.5	−74.4%	Cons. · Japanese GAAP
FYE Mar 2023	11.2	+5.8%	Cons. · Japanese GAAP
FYE Mar 2024	8.6	−23.3%	Cons. · Japanese GAAP
FYE Mar 2025	19.8	+131.2%	Cons. · Japanese GAAP
FYE Mar 2026	5.6	−71.8%	Cons. · Japanese GAAP

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

Extraordinary loss

FYE Mar 2026 n/a

CAGR · 6 yrs +33.7%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	3.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	3.2	+138.7%	Cons. · Japanese GAAP
FYE Mar 2024	2.3	−27.2%	Cons. · Japanese GAAP
FYE Mar 2025	4.9	+107.9%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	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 ¥98bn

CAGR · 10 yrs +10.2%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	41.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	37.8	−7.8%	Cons. · Japanese GAAP
FYE Mar 2019	40.3	+6.6%	Cons. · Japanese GAAP
FYE Mar 2020	28.8	−28.5%	Cons. · Japanese GAAP
FYE Mar 2021	41.9	+45.6%	Cons. · Japanese GAAP
FYE Mar 2022	58.7	+39.9%	Cons. · Japanese GAAP
FYE Mar 2023	61.3	+4.6%	Cons. · Japanese GAAP
FYE Mar 2024	75.4	+22.8%	Cons. · Japanese GAAP
FYE Mar 2025	92.2	+22.4%	Cons. · Japanese GAAP
FYE Mar 2026	98.0	+6.3%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 28.0%

Average · 10 yrs 26.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	25.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.9	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	25.7	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	24.5	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	25.3	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	27.7	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2023	27.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	27.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	28.3	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	28.0	−0.3pp	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 11.1%

Average · 10 yrs 7.7%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.3	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	6.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	4.7	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2021	5.5	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	8.2	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2023	8.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	9.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	10.5	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	11.1	+0.7pp	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 11.3%

Average · 10 yrs 7.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.3	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	6.9	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	4.9	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2021	5.8	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	8.7	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2023	8.7	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	9.8	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	10.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	11.3	+0.8pp	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 8.0%

Average · 10 yrs 5.7%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	4.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.2	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	4.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	3.2	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	4.8	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	6.4	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2023	6.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	6.8	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	8.2	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	8.0	−0.2pp	Cons. · Japanese GAAP

Definition: The share of revenue left after everything
Formula: Net profit ÷ revenue
Source: Securities report (XBRL)

Cost-of-sales ratio

FYE Mar 2026 72.0%

Average · 10 yrs 73.4%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	74.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	74.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	74.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	75.5	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	74.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	72.3	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2023	72.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	72.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	71.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	72.0	+0.3pp	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 16.9%

Average · 10 yrs 18.9%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	20.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	19.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	19.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	19.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	19.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	18.6	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	17.9	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	17.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	16.9	−0.9pp	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 ¥1.41tn

CAGR · 10 yrs +5.3%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	887	n/a	Cons. · Japanese GAAP
FYE Mar 2018	915	+3.2%	Cons. · Japanese GAAP
FYE Mar 2019	953	+4.1%	Cons. · Japanese GAAP
FYE Mar 2020	997	+4.6%	Cons. · Japanese GAAP
FYE Mar 2021	1,052	+5.5%	Cons. · Japanese GAAP
FYE Mar 2022	1,117	+6.2%	Cons. · Japanese GAAP
FYE Mar 2023	1,182	+5.8%	Cons. · Japanese GAAP
FYE Mar 2024	1,271	+7.6%	Cons. · Japanese GAAP
FYE Mar 2025	1,312	+3.2%	Cons. · Japanese GAAP
FYE Mar 2026	1,407	+7.2%	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 ¥800bn

CAGR · 10 yrs +11.9%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	291	n/a	Cons. · Japanese GAAP
FYE Mar 2018	331	+13.5%	Cons. · Japanese GAAP
FYE Mar 2019	353	+6.7%	Cons. · Japanese GAAP
FYE Mar 2020	366	+3.6%	Cons. · Japanese GAAP
FYE Mar 2021	417	+14.1%	Cons. · Japanese GAAP
FYE Mar 2022	473	+13.4%	Cons. · Japanese GAAP
FYE Mar 2023	517	+9.3%	Cons. · Japanese GAAP
FYE Mar 2024	603	+16.5%	Cons. · Japanese GAAP
FYE Mar 2025	692	+14.8%	Cons. · Japanese GAAP
FYE Mar 2026	800	+15.7%	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 ¥37bn

CAGR · 10 yrs −10.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	96.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	68.3	−29.0%	Cons. · Japanese GAAP
FYE Mar 2019	58.8	−13.8%	Cons. · Japanese GAAP
FYE Mar 2020	59.9	+1.9%	Cons. · Japanese GAAP
FYE Mar 2021	118	+97.6%	Cons. · Japanese GAAP
FYE Mar 2022	111	−6.1%	Cons. · Japanese GAAP
FYE Mar 2023	75.5	−32.2%	Cons. · Japanese GAAP
FYE Mar 2024	55.4	−26.7%	Cons. · Japanese GAAP
FYE Mar 2025	40.8	−26.3%	Cons. · Japanese GAAP
FYE Mar 2026	36.9	−9.6%	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 ¥22bn

CAGR · 10 yrs −11.0%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	62.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.9	−45.4%	Cons. · Japanese GAAP
FYE Mar 2019	48.3	+42.6%	Cons. · Japanese GAAP
FYE Mar 2020	72.8	+50.8%	Cons. · Japanese GAAP
FYE Mar 2021	21.7	−70.1%	Cons. · Japanese GAAP
FYE Mar 2022	45.0	+106.9%	Cons. · Japanese GAAP
FYE Mar 2023	46.9	+4.2%	Cons. · Japanese GAAP
FYE Mar 2024	76.3	+62.7%	Cons. · Japanese GAAP
FYE Mar 2025	10.7	−85.9%	Cons. · Japanese GAAP
FYE Mar 2026	21.8	+103.7%	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 ¥15bn

CAGR · 10 yrs −8.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	34.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	34.4	+0.7%	Cons. · Japanese GAAP
FYE Mar 2019	10.5	−69.4%	Cons. · Japanese GAAP
FYE Mar 2020	38.6	+266.0%	Cons. · Japanese GAAP
FYE Mar 2021	96.7	+150.5%	Cons. · Japanese GAAP
FYE Mar 2022	66.3	−31.5%	Cons. · Japanese GAAP
FYE Mar 2023	28.6	−56.8%	Cons. · Japanese GAAP
FYE Mar 2024	15.1	−47.2%	Cons. · Japanese GAAP
FYE Mar 2025	30.1	+99.2%	Cons. · Japanese GAAP
FYE Mar 2026	15.1	−49.9%	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 −7.3%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	55.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	60.0	+9.1%	Cons. · Japanese GAAP
FYE Mar 2019	50.0	−16.7%	Cons. · Japanese GAAP
FYE Mar 2020	50.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	35.0	−30.0%	Cons. · Japanese GAAP
FYE Mar 2022	35.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	35.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2024	20.0	−42.9%	Cons. · Japanese GAAP
FYE Mar 2025	30.0	+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 ¥38bn

CAGR · 10 yrs +7.0%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	20.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.3	−5.8%	Cons. · Japanese GAAP
FYE Mar 2019	17.8	−7.7%	Cons. · Japanese GAAP
FYE Mar 2020	24.6	+37.9%	Cons. · Japanese GAAP
FYE Mar 2021	23.4	−4.8%	Cons. · Japanese GAAP
FYE Mar 2022	22.5	−3.9%	Cons. · Japanese GAAP
FYE Mar 2023	24.0	+6.8%	Cons. · Japanese GAAP
FYE Mar 2024	25.5	+6.0%	Cons. · Japanese GAAP
FYE Mar 2025	30.3	+19.1%	Cons. · Japanese GAAP
FYE Mar 2026	37.7	+24.4%	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 ¥2.8bn

CAGR · 10 yrs +0.1%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.2	−19.8%	Cons. · Japanese GAAP
FYE Mar 2019	0.9	−57.8%	Cons. · Japanese GAAP
FYE Mar 2020	6.7	+615.3%	Cons. · Japanese GAAP
FYE Mar 2021	6.3	−5.3%	Cons. · Japanese GAAP
FYE Mar 2022	6.0	−5.8%	Cons. · Japanese GAAP
FYE Mar 2023	5.2	−13.3%	Cons. · Japanese GAAP
FYE Mar 2024	4.9	−6.4%	Cons. · Japanese GAAP
FYE Mar 2025	3.8	−22.3%	Cons. · Japanese GAAP
FYE Mar 2026	2.8	−25.8%	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 56.9%

Average · 10 yrs 42.5%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	32.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.1	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2019	37.0	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	36.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	39.6	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2022	42.3	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2023	43.8	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	47.4	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2025	52.7	+5.3pp	Cons. · Japanese GAAP
FYE Mar 2026	56.9	+4.2pp	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 4.6%

Average · 10 yrs 17.3%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	33.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.7	−12.4pp	Cons. · Japanese GAAP
FYE Mar 2019	16.7	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2020	16.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	28.4	+12.0pp	Cons. · Japanese GAAP
FYE Mar 2022	23.5	−4.9pp	Cons. · Japanese GAAP
FYE Mar 2023	14.6	−8.9pp	Cons. · Japanese GAAP
FYE Mar 2024	9.2	−5.4pp	Cons. · Japanese GAAP
FYE Mar 2025	5.9	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2026	4.6	−1.3pp	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 12.3%

Average · 10 yrs 11.7%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	14.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.4	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2019	11.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	7.9	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2021	10.1	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2022	12.4	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	11.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2024	12.5	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	13.3	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	12.3	−1.1pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 7.0%

Average · 10 yrs 5.0%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	4.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	4.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	2.9	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	4.0	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2022	5.3	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2023	5.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	5.9	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	7.0	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	7.0	−0.1pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.87×

CAGR · 10 yrs −0.9%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.94	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.98	+3.4%	Cons. · Japanese GAAP
FYE Mar 2019	0.96	−1.7%	Cons. · Japanese GAAP
FYE Mar 2020	0.90	−5.9%	Cons. · Japanese GAAP
FYE Mar 2021	0.83	−7.8%	Cons. · Japanese GAAP
FYE Mar 2022	0.81	−2.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.85	+4.9%	Cons. · Japanese GAAP
FYE Mar 2024	0.87	+1.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.86	−1.4%	Cons. · Japanese GAAP
FYE Mar 2026	0.87	+1.9%	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 ¥124bn

CAGR · 10 yrs +8.7%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	58.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	53.1	−8.7%	Cons. · Japanese GAAP
FYE Mar 2019	54.9	+3.4%	Cons. · Japanese GAAP
FYE Mar 2020	46.1	−16.1%	Cons. · Japanese GAAP
FYE Mar 2021	26.9	−41.6%	Cons. · Japanese GAAP
FYE Mar 2022	76.8	+185.2%	Cons. · Japanese GAAP
FYE Mar 2023	116	+51.2%	Cons. · Japanese GAAP
FYE Mar 2024	84.9	−26.9%	Cons. · Japanese GAAP
FYE Mar 2025	145	+70.8%	Cons. · Japanese GAAP
FYE Mar 2026	124	−14.7%	Cons. · Japanese GAAP

Definition: Cash the business itself generated
Formula: Cash flow from operating activities
Source: Securities report (XBRL)

Investing cash flow

FYE Mar 2026 -¥73bn

Average · 10 yrs -¥30bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	9.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-14.6	−249.3%	Cons. · Japanese GAAP
FYE Mar 2019	-21.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-27.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	23.5	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-22.4	−195.2%	Cons. · Japanese GAAP
FYE Mar 2023	-49.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-62.4	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-63.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-72.6	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 -¥48bn

Average · 10 yrs -¥46bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-56.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-46.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-38.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	16.9	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-39.5	−333.6%	Cons. · Japanese GAAP
FYE Mar 2022	-42.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-77.2	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-45.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-86.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-48.2	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 ¥70bn

CAGR · 10 yrs +5.9%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	41.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.3	−20.4%	Cons. · Japanese GAAP
FYE Mar 2019	29.1	−12.6%	Cons. · Japanese GAAP
FYE Mar 2020	63.7	+118.8%	Cons. · Japanese GAAP
FYE Mar 2021	75.3	+18.2%	Cons. · Japanese GAAP
FYE Mar 2022	91.4	+21.3%	Cons. · Japanese GAAP
FYE Mar 2023	84.2	−7.9%	Cons. · Japanese GAAP
FYE Mar 2024	65.5	−22.1%	Cons. · Japanese GAAP
FYE Mar 2025	62.7	−4.4%	Cons. · Japanese GAAP
FYE Mar 2026	69.9	+11.5%	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 ¥51bn

CAGR · 10 yrs −3.1%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	67.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	38.6	−43.2%	Cons. · Japanese GAAP
FYE Mar 2019	33.5	−13.2%	Cons. · Japanese GAAP
FYE Mar 2020	18.5	−44.9%	Cons. · Japanese GAAP
FYE Mar 2021	50.4	+173.0%	Cons. · Japanese GAAP
FYE Mar 2022	54.5	+8.0%	Cons. · Japanese GAAP
FYE Mar 2023	66.7	+22.4%	Cons. · Japanese GAAP
FYE Mar 2024	22.4	−66.3%	Cons. · Japanese GAAP
FYE Mar 2025	81.5	+263.4%	Cons. · Japanese GAAP
FYE Mar 2026	51.0	−37.5%	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 10.1%

Average · 10 yrs 7.8%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	6.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.9	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	6.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	5.1	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	3.1	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2022	8.4	+5.4pp	Cons. · Japanese GAAP
FYE Mar 2023	11.5	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2024	7.7	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2025	12.9	+5.2pp	Cons. · Japanese GAAP
FYE Mar 2026	10.1	−2.8pp	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 ¥33bn

Average · 10 yrs -¥10bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-54.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-35.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-29.7	n/a	Cons. · Japanese GAAP
FYE Mar 2020	3.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-43.1	−1234.2%	Cons. · Japanese GAAP
FYE Mar 2022	-19.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	8.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	10.2	+17.2%	Cons. · Japanese GAAP
FYE Mar 2025	21.9	+114.9%	Cons. · Japanese GAAP
FYE Mar 2026	33.0	+50.7%	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 ¥1.58tn

Change · 10 yrs +¥1.09tn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	492	n/a
FYE Mar 2018	541	n/a
FYE Mar 2019	467	n/a
FYE Mar 2020	364	n/a
FYE Mar 2021	688	n/a
FYE Mar 2022	920	n/a
FYE Mar 2023	776	n/a
FYE Mar 2024	1,528	n/a
FYE Mar 2025	940	n/a
FYE Mar 2026	1,579	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 10,576¥

Change · 10 yrs +9,917¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	660	n/a
FYE Mar 2018	724	n/a
FYE Mar 2019	3,129	n/a
FYE Mar 2020	2,439	n/a
FYE Mar 2021	4,608	n/a
FYE Mar 2022	6,160	n/a
FYE Mar 2023	5,197	n/a
FYE Mar 2024	10,235	n/a
FYE Mar 2025	6,298	n/a
FYE Mar 2026	10,576	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 149,296,000shares

Change · 10 yrs −597,188,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	746,484,000	Parent
FYE Mar 2018	746,484,000	Parent
FYE Mar 2019	149,296,000	Parent
FYE Mar 2020	149,296,000	Parent
FYE Mar 2021	149,296,000	Parent
FYE Mar 2022	149,296,000	Parent
FYE Mar 2023	149,296,000	Parent
FYE Mar 2024	149,296,000	Parent
FYE Mar 2025	149,296,000	Parent
FYE Mar 2026	149,296,000	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 665.18¥

Change · 10 yrs +607.82¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	57.36	Cons.
FYE Mar 2018	264.34	Cons.
FYE Mar 2019	281.89	Cons.
FYE Mar 2020	201.57	Cons.
FYE Mar 2021	293.52	Cons.
FYE Mar 2022	410.68	Cons.
FYE Mar 2023	429.50	Cons.
FYE Mar 2024	527.57	Cons.
FYE Mar 2025	642.69	Cons.
FYE Mar 2026	665.18	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 5,359.56¥

Change · 10 yrs +4,969.44¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	390.12	Cons. · Japanese GAAP
FYE Mar 2018	442.92	Cons. · Japanese GAAP
FYE Mar 2019	2,363.91	Cons. · Japanese GAAP
FYE Mar 2020	2,448.96	Cons. · Japanese GAAP
FYE Mar 2021	2,793.09	Cons. · Japanese GAAP
FYE Mar 2022	3,167.53	Cons. · Japanese GAAP
FYE Mar 2023	3,463.54	Cons. · Japanese GAAP
FYE Mar 2024	4,035.71	Cons. · Japanese GAAP
FYE Mar 2025	4,633.53	Cons. · Japanese GAAP
FYE Mar 2026	5,359.56	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 15.90×

Average · 10 yrs 13.63×

Fiscal year	PER ×	Basis
FYE Mar 2017	11.50	Cons.
FYE Mar 2018	13.70	Cons.
FYE Mar 2019	11.10	Cons.
FYE Mar 2020	12.10	Cons.
FYE Mar 2021	15.70	Cons.
FYE Mar 2022	15.00	Cons.
FYE Mar 2023	12.10	Cons.
FYE Mar 2024	19.40	Cons.
FYE Mar 2025	9.80	Cons.
FYE Mar 2026	15.90	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 1.95×

Average · 10 yrs 1.60×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.62	Cons.
FYE Mar 2018	1.56	Cons.
FYE Mar 2019	1.27	Cons.
FYE Mar 2020	0.95	Cons.
FYE Mar 2021	1.58	Cons.
FYE Mar 2022	1.86	Cons.
FYE Mar 2023	1.44	Cons.
FYE Mar 2024	2.43	Cons.
FYE Mar 2025	1.34	Cons.
FYE Mar 2026	1.95	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 26,955people

Change · 10 yrs +452 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	26,503	n/a	Cons.
FYE Mar 2018	27,009	+1.9%	Cons.
FYE Mar 2019	27,416	+1.5%	Cons.
FYE Mar 2020	27,960	+2.0%	Cons.
FYE Mar 2021	27,593	−1.3%	Cons.
FYE Mar 2022	26,757	−3.0%	Cons.
FYE Mar 2023	27,123	+1.4%	Cons.
FYE Mar 2024	27,325	+0.7%	Cons.
FYE Mar 2025	27,391	+0.2%	Cons.
FYE Mar 2026	26,955	−1.6%	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 10,901people

Change · 10 yrs +181 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	10,720	n/a	Parent
FYE Mar 2018	10,745	+0.2%	Parent
FYE Mar 2019	10,539	−1.9%	Parent
FYE Mar 2020	10,524	−0.1%	Parent
FYE Mar 2021	10,513	−0.1%	Parent
FYE Mar 2022	10,566	+0.5%	Parent
FYE Mar 2023	10,558	−0.1%	Parent
FYE Mar 2024	10,711	+1.4%	Parent
FYE Mar 2025	10,939	+2.1%	Parent
FYE Mar 2026	10,901	−0.3%	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 ¥8.4m

Change · 10 yrs +¥0.9m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	7.5	n/a	Parent
FYE Mar 2018	7.5	+0.5%	Parent
FYE Mar 2019	7.7	+1.7%	Parent
FYE Mar 2020	7.6	−0.2%	Parent
FYE Mar 2021	7.5	−1.8%	Parent
FYE Mar 2022	7.6	+1.3%	Parent
FYE Mar 2023	7.8	+2.1%	Parent
FYE Mar 2024	7.9	+1.4%	Parent
FYE Mar 2025	8.1	+3.0%	Parent
FYE Mar 2026	8.4	+3.8%	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 44.9years

Change · 8 yrs −0.0 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	44.9	n/a	Parent
FYE Mar 2020	44.9	−0.0%	Parent
FYE Mar 2021	44.8	−0.2%	Parent
FYE Mar 2022	44.9	+0.2%	Parent
FYE Mar 2023	44.9	−0.0%	Parent
FYE Mar 2024	45.0	+0.2%	Parent
FYE Mar 2025	44.9	−0.2%	Parent
FYE Mar 2026	44.9	−0.0%	Parent

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

Average length of service

FYE Mar 2026 20.3years

Change · 10 yrs +0.1 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	20.2	n/a	Parent
FYE Mar 2018	20.4	+1.0%	Parent
FYE Mar 2019	20.8	+2.0%	Parent
FYE Mar 2020	20.8	−0.0%	Parent
FYE Mar 2021	20.9	+0.5%	Parent
FYE Mar 2022	20.8	−0.5%	Parent
FYE Mar 2023	20.9	+0.5%	Parent
FYE Mar 2024	20.7	−1.0%	Parent
FYE Mar 2025	20.5	−1.0%	Parent
FYE Mar 2026	20.3	−1.0%	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 2,981people

Change · 10 yrs +360 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	2,621	n/a	n/a
FYE Mar 2018	2,872	+9.6%	n/a
FYE Mar 2019	2,961	+3.1%	n/a
FYE Mar 2020	3,182	+7.5%	n/a
FYE Mar 2021	3,098	−2.6%	n/a
FYE Mar 2022	3,093	−0.2%	n/a
FYE Mar 2023	3,000	−3.0%	n/a
FYE Mar 2024	3,033	+1.1%	n/a
FYE Mar 2025	2,847	−6.1%	n/a
FYE Mar 2026	2,981	+4.7%	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 ¥45.5m

Change · 10 yrs +¥13.9m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	31.6	n/a	Cons.
FYE Mar 2018	33.1	+4.6%	Cons.
FYE Mar 2019	33.4	+0.9%	Cons.
FYE Mar 2020	32.2	−3.5%	Cons.
FYE Mar 2021	31.7	−1.4%	Cons.
FYE Mar 2022	34.0	+7.2%	Cons.
FYE Mar 2023	37.2	+9.4%	Cons.
FYE Mar 2024	40.4	+8.5%	Cons.
FYE Mar 2025	41.0	+1.6%	Cons.
FYE Mar 2026	45.5	+11.0%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.1m

Change · 10 yrs +¥3.4m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	1.7	n/a	Cons.
FYE Mar 2018	2.1	+22.8%	Cons.
FYE Mar 2019	2.2	+5.6%	Cons.
FYE Mar 2020	1.5	−30.5%	Cons.
FYE Mar 2021	1.8	+15.8%	Cons.
FYE Mar 2022	2.8	+58.8%	Cons.
FYE Mar 2023	3.3	+17.2%	Cons.
FYE Mar 2024	3.9	+18.5%	Cons.
FYE Mar 2025	4.3	+10.7%	Cons.
FYE Mar 2026	5.1	+18.0%	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

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/api/6504/company.json ·/api/6504/history.json ·/api/6504/ceo.json ·/api/6504/financials.json ·/api/6504/financials/segment.json ·/api/6504/financials/pl.json ·/api/6504/financials/cf.json ·/api/6504/financials/bs.json ·/api/6504/financials/employee.json ·/api/6504/financials/stock.json ·/api/6504/financials.csv ·/api/6504/financials_history.csv

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