Financials

Japan Aviation Electronics Industry: FYE Mar 2026 and ten years of results (49 metrics)

FYE Mar 2026 · Revenue¥228bnYoY +2.8%

FYE Mar 2026 · Operating profit¥8.9bnYoY −42.8%

FYE Mar 2026 · Net profit¥7.1bnYoY −39.0%

FYE Mar 2026 · Equity ratio62.2%YoY +0.1pp

FYE Mar 2026 · Group employees11,908YoY +1,754

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥210bn	n/a	¥12bn	n/a	5.8%	¥6.7bn	Onohara Tsutomu	—
FYE Mar 2018Consolidated	¥254bn	+21.2%	¥21bn	+71.1%	8.1%	¥13bn	Onohara Tsutomu	NEC tender offer makes JAE a consolidated subsidiary
FYE Mar 2019Consolidated	¥222bn	−12.5%	¥17bn	−16.1%	7.8%	¥14bn	Onohara Tsutomu	—
FYE Mar 2020Consolidated	¥208bn	−6.3%	¥14bn	−19.0%	6.7%	¥11bn	Onohara Tsutomu	—
FYE Mar 2021Consolidated	¥210bn	+0.8%	¥8.7bn	−37.9%	4.2%	¥5.7bn	Onohara Tsutomu	—
FYE Mar 2022Consolidated	¥225bn	+7.3%	¥18bn	+107.3%	8.0%	¥14bn	Onohara Tsutomu	—
FYE Mar 2023Consolidated	¥236bn	+4.8%	¥18bn	−2.7%	7.4%	¥15bn	Onohara Tsutomu	—
FYE Mar 2024Consolidated	¥226bn	−4.3%	¥14bn	−17.9%	6.4%	¥12bn	Onohara Tsutomu	—
FYE Mar 2025Consolidated	¥222bn	−1.8%	¥16bn	+8.3%	7.0%	¥12bn	Muraki Masayuki	Self-tender cuts NEC to 33.35%, ending the parent-subsidiary listing
FYE Mar 2026Consolidated	¥228bn	+2.8%	¥8.9bn	−42.8%	3.9%	¥7.1bn	Muraki Masayuki	Kyocera takes 33.0% and becomes the largest shareholder

How it compares

TDK¥2.50tnFY2025Operating margin 10.9%Murata Manufacturing¥1.83tnFY2025Operating margin 15.4%Alps Alpine¥1.02tnFY2025Operating margin 4.1%Taiyo Yuden¥355bnFY2025Operating margin 5.6%Meiko¥241bnFY2025Operating margin 10.2%

Japan Aviation Electronics Industry¥228bnFY2025Operating margin 3.9%

Hirose Electric¥211bnFY2025Operating margin 20.4%

Mabuchi Motor¥200bnFY2025Operating margin 12.7%

NICHICON CORPORATION¥170bnFY2025Operating margin 3.8%

MARUWA¥74bnFY2025Operating margin 33.5%

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 ¥228bn

CAGR · 10 yrs +0.9%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	210	n/a	Cons. · Japanese GAAP
FYE Mar 2018	254	+21.2%	Cons. · Japanese GAAP
FYE Mar 2019	222	−12.5%	Cons. · Japanese GAAP
FYE Mar 2020	208	−6.3%	Cons. · Japanese GAAP
FYE Mar 2021	210	+0.8%	Cons. · Japanese GAAP
FYE Mar 2022	225	+7.3%	Cons. · Japanese GAAP
FYE Mar 2023	236	+4.8%	Cons. · Japanese GAAP
FYE Mar 2024	226	−4.3%	Cons. · Japanese GAAP
FYE Mar 2025	222	−1.8%	Cons. · Japanese GAAP
FYE Mar 2026	228	+2.8%	Cons. · Japanese GAAP

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

Cost of sales

FYE Mar 2026 ¥191bn

CAGR · 10 yrs +0.9%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	176	n/a	Cons. · Japanese GAAP
FYE Mar 2018	211	+19.6%	Cons. · Japanese GAAP
FYE Mar 2019	182	−13.7%	Cons. · Japanese GAAP
FYE Mar 2020	172	−5.8%	Cons. · Japanese GAAP
FYE Mar 2021	180	+5.2%	Cons. · Japanese GAAP
FYE Mar 2022	183	+1.5%	Cons. · Japanese GAAP
FYE Mar 2023	194	+5.7%	Cons. · Japanese GAAP
FYE Mar 2024	186	−4.0%	Cons. · Japanese GAAP
FYE Mar 2025	180	−3.5%	Cons. · Japanese GAAP
FYE Mar 2026	191	+6.6%	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 ¥36bn

CAGR · 10 yrs +1.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	33.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	42.9	+29.6%	Cons. · Japanese GAAP
FYE Mar 2019	40.0	−6.7%	Cons. · Japanese GAAP
FYE Mar 2020	36.6	−8.5%	Cons. · Japanese GAAP
FYE Mar 2021	29.3	−19.9%	Cons. · Japanese GAAP
FYE Mar 2022	41.9	+43.1%	Cons. · Japanese GAAP
FYE Mar 2023	42.2	+0.6%	Cons. · Japanese GAAP
FYE Mar 2024	39.8	−5.7%	Cons. · Japanese GAAP
FYE Mar 2025	42.1	+5.7%	Cons. · Japanese GAAP
FYE Mar 2026	36.4	−13.4%	Cons. · Japanese GAAP

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

SG&A selling, general and administrative expenses

FYE Mar 2026 ¥27bn

CAGR · 10 yrs +3.0%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	21.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.2	+5.7%	Cons. · Japanese GAAP
FYE Mar 2019	22.7	+2.0%	Cons. · Japanese GAAP
FYE Mar 2020	22.6	−0.5%	Cons. · Japanese GAAP
FYE Mar 2021	20.6	−8.7%	Cons. · Japanese GAAP
FYE Mar 2022	23.9	+15.9%	Cons. · Japanese GAAP
FYE Mar 2023	24.6	+3.1%	Cons. · Japanese GAAP
FYE Mar 2024	25.4	+2.9%	Cons. · Japanese GAAP
FYE Mar 2025	26.4	+4.3%	Cons. · Japanese GAAP
FYE Mar 2026	27.5	+4.0%	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 ¥8.9bn

CAGR · 10 yrs −3.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	12.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.6	+71.1%	Cons. · Japanese GAAP
FYE Mar 2019	17.3	−16.1%	Cons. · Japanese GAAP
FYE Mar 2020	14.0	−19.0%	Cons. · Japanese GAAP
FYE Mar 2021	8.7	−37.9%	Cons. · Japanese GAAP
FYE Mar 2022	18.0	+107.3%	Cons. · Japanese GAAP
FYE Mar 2023	17.6	−2.7%	Cons. · Japanese GAAP
FYE Mar 2024	14.4	−17.9%	Cons. · Japanese GAAP
FYE Mar 2025	15.6	+8.3%	Cons. · Japanese GAAP
FYE Mar 2026	8.9	−42.8%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥2.4bn

CAGR · 10 yrs +23.1%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.3	−8.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.6	+371.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.9	−45.1%	Cons. · Japanese GAAP
FYE Mar 2021	0.7	−23.4%	Cons. · Japanese GAAP
FYE Mar 2022	1.3	+100.0%	Cons. · Japanese GAAP
FYE Mar 2023	2.2	+67.2%	Cons. · Japanese GAAP
FYE Mar 2024	2.5	+10.3%	Cons. · Japanese GAAP
FYE Mar 2025	1.2	−51.5%	Cons. · Japanese GAAP
FYE Mar 2026	2.4	+99.8%	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 ¥3.1bn

CAGR · 10 yrs −0.7%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.6	+10.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.9	−76.3%	Cons. · Japanese GAAP
FYE Mar 2020	0.7	−21.4%	Cons. · Japanese GAAP
FYE Mar 2021	1.5	+122.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.8	−46.7%	Cons. · Japanese GAAP
FYE Mar 2023	0.7	−13.2%	Cons. · Japanese GAAP
FYE Mar 2024	2.1	+208.7%	Cons. · Japanese GAAP
FYE Mar 2025	2.0	−7.4%	Cons. · Japanese GAAP
FYE Mar 2026	3.1	+56.1%	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 ¥8.2bn

CAGR · 10 yrs −1.2%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.4	+89.6%	Cons. · Japanese GAAP
FYE Mar 2019	18.0	+3.9%	Cons. · Japanese GAAP
FYE Mar 2020	14.2	−21.1%	Cons. · Japanese GAAP
FYE Mar 2021	7.9	−44.6%	Cons. · Japanese GAAP
FYE Mar 2022	18.6	+136.0%	Cons. · Japanese GAAP
FYE Mar 2023	19.1	+2.8%	Cons. · Japanese GAAP
FYE Mar 2024	14.8	−22.8%	Cons. · Japanese GAAP
FYE Mar 2025	14.8	+0.5%	Cons. · Japanese GAAP
FYE Mar 2026	8.2	−44.4%	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 ¥2.3bn

CAGR · 4 yrs +45.6%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	0.3	−78.9%	Cons. · Japanese GAAP
FYE Mar 2026	2.3	+558.1%	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 ¥7.1bn

CAGR · 10 yrs +0.5%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.9	+92.0%	Cons. · Japanese GAAP
FYE Mar 2019	13.5	+4.4%	Cons. · Japanese GAAP
FYE Mar 2020	11.1	−18.2%	Cons. · Japanese GAAP
FYE Mar 2021	5.7	−48.5%	Cons. · Japanese GAAP
FYE Mar 2022	14.3	+151.7%	Cons. · Japanese GAAP
FYE Mar 2023	14.6	+2.2%	Cons. · Japanese GAAP
FYE Mar 2024	12.2	−16.4%	Cons. · Japanese GAAP
FYE Mar 2025	11.6	−5.3%	Cons. · Japanese GAAP
FYE Mar 2026	7.1	−39.0%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 16.0%

Average · 10 yrs 17.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	15.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.9	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	18.0	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2020	17.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	14.0	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2022	18.6	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2023	17.9	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	17.6	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	19.0	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	16.0	−3.0pp	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 3.9%

Average · 10 yrs 6.5%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.1	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2019	7.8	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	6.7	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	4.2	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	8.0	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2023	7.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	6.4	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	7.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	3.9	−3.1pp	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 3.6%

Average · 10 yrs 6.3%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	4.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.8	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2019	8.1	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	6.8	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	3.8	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2022	8.3	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2023	8.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	6.5	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	6.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	3.6	−3.1pp	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 3.1%

Average · 10 yrs 4.9%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2019	6.1	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	5.3	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	2.7	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	6.4	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2023	6.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	5.4	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	5.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	3.1	−2.1pp	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 84.0%

Average · 10 yrs 82.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	84.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	83.1	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	82.0	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2020	82.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	86.0	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2022	81.4	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2023	82.1	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	82.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	81.0	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	84.0	+3.0pp	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 12.1%

Average · 10 yrs 10.6%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	10.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.8	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	10.2	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	10.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	9.8	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	10.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	10.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	11.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	11.9	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	12.1	+0.1pp	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 ¥232bn

CAGR · 10 yrs +2.7%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	183	n/a	Cons. · Japanese GAAP
FYE Mar 2018	190	+3.7%	Cons. · Japanese GAAP
FYE Mar 2019	187	−1.7%	Cons. · Japanese GAAP
FYE Mar 2020	193	+3.7%	Cons. · Japanese GAAP
FYE Mar 2021	220	+13.8%	Cons. · Japanese GAAP
FYE Mar 2022	225	+2.4%	Cons. · Japanese GAAP
FYE Mar 2023	227	+0.6%	Cons. · Japanese GAAP
FYE Mar 2024	236	+4.2%	Cons. · Japanese GAAP
FYE Mar 2025	215	−8.7%	Cons. · Japanese GAAP
FYE Mar 2026	232	+7.8%	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 ¥144bn

CAGR · 10 yrs +3.2%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	109	n/a	Cons. · Japanese GAAP
FYE Mar 2018	121	+10.9%	Cons. · Japanese GAAP
FYE Mar 2019	132	+8.9%	Cons. · Japanese GAAP
FYE Mar 2020	136	+3.1%	Cons. · Japanese GAAP
FYE Mar 2021	142	+4.6%	Cons. · Japanese GAAP
FYE Mar 2022	158	+11.1%	Cons. · Japanese GAAP
FYE Mar 2023	171	+8.5%	Cons. · Japanese GAAP
FYE Mar 2024	127	−26.0%	Cons. · Japanese GAAP
FYE Mar 2025	134	+5.4%	Cons. · Japanese GAAP
FYE Mar 2026	144	+8.0%	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 ¥42bn

CAGR · 10 yrs +8.8%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	19.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.4	−31.3%	Cons. · Japanese GAAP
FYE Mar 2019	9.3	−31.2%	Cons. · Japanese GAAP
FYE Mar 2020	6.3	−31.5%	Cons. · Japanese GAAP
FYE Mar 2021	24.6	+288.2%	Cons. · Japanese GAAP
FYE Mar 2022	17.4	−29.3%	Cons. · Japanese GAAP
FYE Mar 2023	9.8	−43.7%	Cons. · Japanese GAAP
FYE Mar 2024	64.5	+558.0%	Cons. · Japanese GAAP
FYE Mar 2025	37.0	−42.6%	Cons. · Japanese GAAP
FYE Mar 2026	41.8	+12.8%	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 ¥11bn

CAGR · 10 yrs +3.4%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	8.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.2	−23.8%	Cons. · Japanese GAAP
FYE Mar 2019	4.9	−20.6%	Cons. · Japanese GAAP
FYE Mar 2020	3.7	−24.4%	Cons. · Japanese GAAP
FYE Mar 2021	9.2	+148.1%	Cons. · Japanese GAAP
FYE Mar 2022	9.6	+4.3%	Cons. · Japanese GAAP
FYE Mar 2023	7.3	−24.0%	Cons. · Japanese GAAP
FYE Mar 2024	10.5	+43.8%	Cons. · Japanese GAAP
FYE Mar 2025	6.0	−42.9%	Cons. · Japanese GAAP
FYE Mar 2026	11.0	+83.3%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Mar 2026 ¥31bn

CAGR · 10 yrs +11.6%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	11.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.3	−36.6%	Cons. · Japanese GAAP
FYE Mar 2019	4.3	−40.1%	Cons. · Japanese GAAP
FYE Mar 2020	2.6	−39.5%	Cons. · Japanese GAAP
FYE Mar 2021	15.4	+486.2%	Cons. · Japanese GAAP
FYE Mar 2022	7.8	−49.4%	Cons. · Japanese GAAP
FYE Mar 2023	2.5	−68.0%	Cons. · Japanese GAAP
FYE Mar 2024	54.0	+2060.0%	Cons. · Japanese GAAP
FYE Mar 2025	31.0	−42.6%	Cons. · Japanese GAAP
FYE Mar 2026	30.8	−0.8%	Cons. · Japanese GAAP

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

Intangible assets

FYE Mar 2026 ¥3.1bn

CAGR · 10 yrs +0.0%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	3.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.4	+10.3%	Cons. · Japanese GAAP
FYE Mar 2019	3.1	−8.4%	Cons. · Japanese GAAP
FYE Mar 2020	2.6	−15.9%	Cons. · Japanese GAAP
FYE Mar 2021	2.4	−9.1%	Cons. · Japanese GAAP
FYE Mar 2022	2.6	+9.0%	Cons. · Japanese GAAP
FYE Mar 2023	2.7	+1.8%	Cons. · Japanese GAAP
FYE Mar 2024	2.7	+1.7%	Cons. · Japanese GAAP
FYE Mar 2025	2.7	−1.7%	Cons. · Japanese GAAP
FYE Mar 2026	3.1	+16.6%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 62.2%

Average · 10 yrs 65.2%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	59.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	63.7	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2019	70.6	+6.9pp	Cons. · Japanese GAAP
FYE Mar 2020	70.2	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	64.6	−5.6pp	Cons. · Japanese GAAP
FYE Mar 2022	70.1	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2023	75.6	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2024	53.7	−21.9pp	Cons. · Japanese GAAP
FYE Mar 2025	62.1	+8.3pp	Cons. · Japanese GAAP
FYE Mar 2026	62.2	+0.1pp	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 28.9%

Average · 10 yrs 18.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	17.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.1	−6.8pp	Cons. · Japanese GAAP
FYE Mar 2019	7.0	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2020	4.7	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2021	17.3	+12.7pp	Cons. · Japanese GAAP
FYE Mar 2022	11.0	−6.3pp	Cons. · Japanese GAAP
FYE Mar 2023	5.7	−5.3pp	Cons. · Japanese GAAP
FYE Mar 2024	50.9	+45.1pp	Cons. · Japanese GAAP
FYE Mar 2025	27.7	−23.2pp	Cons. · Japanese GAAP
FYE Mar 2026	28.9	+1.2pp	Cons. · Japanese GAAP

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

ROE return on equity

FYE Mar 2026 4.9%

Average · 10 yrs 8.0%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	6.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.7	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2019	10.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	8.1	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2021	4.0	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2022	9.1	+5.1pp	Cons. · Japanese GAAP
FYE Mar 2023	8.5	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2024	9.7	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	8.7	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	4.9	−3.8pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 3.0%

Average · 10 yrs 5.2%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.8	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2019	7.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	5.7	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	2.6	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2022	6.4	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2023	6.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	5.2	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	5.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	3.0	−2.3pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.98×

CAGR · 10 yrs −1.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.14	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.34	+16.9%	Cons. · Japanese GAAP
FYE Mar 2019	1.19	−11.0%	Cons. · Japanese GAAP
FYE Mar 2020	1.08	−9.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.95	−11.4%	Cons. · Japanese GAAP
FYE Mar 2022	1.00	+4.8%	Cons. · Japanese GAAP
FYE Mar 2023	1.04	+4.2%	Cons. · Japanese GAAP
FYE Mar 2024	0.96	−8.1%	Cons. · Japanese GAAP
FYE Mar 2025	1.03	+7.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.98	−4.6%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥17bn

CAGR · 10 yrs −2.6%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	21.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.4	+51.2%	Cons. · Japanese GAAP
FYE Mar 2019	37.6	+15.8%	Cons. · Japanese GAAP
FYE Mar 2020	28.6	−23.9%	Cons. · Japanese GAAP
FYE Mar 2021	29.1	+1.9%	Cons. · Japanese GAAP
FYE Mar 2022	24.4	−16.1%	Cons. · Japanese GAAP
FYE Mar 2023	32.5	+32.8%	Cons. · Japanese GAAP
FYE Mar 2024	34.9	+7.4%	Cons. · Japanese GAAP
FYE Mar 2025	36.3	+4.3%	Cons. · Japanese GAAP
FYE Mar 2026	17.0	−53.3%	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 -¥24bn

Average · 10 yrs -¥22bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-22.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-19.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-23.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-24.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-18.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-23.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-19.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-24.4	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 ¥0.5bn

Average · 10 yrs -¥7.2bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-8.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-6.9	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-6.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	15.5	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-10.0	−164.6%	Cons. · Japanese GAAP
FYE Mar 2023	-11.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-11.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-31.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	0.5	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 ¥48bn

CAGR · 10 yrs +3.2%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	36.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.4	+8.0%	Cons. · Japanese GAAP
FYE Mar 2019	47.2	+19.7%	Cons. · Japanese GAAP
FYE Mar 2020	44.3	−6.1%	Cons. · Japanese GAAP
FYE Mar 2021	70.1	+58.2%	Cons. · Japanese GAAP
FYE Mar 2022	65.6	−6.5%	Cons. · Japanese GAAP
FYE Mar 2023	63.0	−3.9%	Cons. · Japanese GAAP
FYE Mar 2024	68.3	+8.4%	Cons. · Japanese GAAP
FYE Mar 2025	52.9	−22.6%	Cons. · Japanese GAAP
FYE Mar 2026	48.5	−8.3%	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 -¥7.4bn

Average · 10 yrs ¥7.8bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	14.5	+14.7%	Cons. · Japanese GAAP
FYE Mar 2020	4.0	−72.1%	Cons. · Japanese GAAP
FYE Mar 2021	10.3	+154.9%	Cons. · Japanese GAAP
FYE Mar 2022	4.1	−59.8%	Cons. · Japanese GAAP
FYE Mar 2023	9.0	+117.5%	Cons. · Japanese GAAP
FYE Mar 2024	14.5	+61.3%	Cons. · Japanese GAAP
FYE Mar 2025	17.1	+17.8%	Cons. · Japanese GAAP
FYE Mar 2026	-7.4	−143.2%	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 7.5%

Average · 10 yrs 13.1%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	10.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.8	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2019	16.9	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2020	13.7	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2021	13.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	10.9	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2023	13.8	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	15.4	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	16.4	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	7.5	−8.9pp	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 ¥6.7bn

CAGR · 10 yrs −9.7%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	17.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.0	+53.3%	Cons. · Japanese GAAP
FYE Mar 2019	37.9	+45.9%	Cons. · Japanese GAAP
FYE Mar 2020	38.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	45.5	+19.8%	Cons. · Japanese GAAP
FYE Mar 2022	48.1	+5.9%	Cons. · Japanese GAAP
FYE Mar 2023	53.2	+10.6%	Cons. · Japanese GAAP
FYE Mar 2024	3.8	−92.9%	Cons. · Japanese GAAP
FYE Mar 2025	15.9	+318.0%	Cons. · Japanese GAAP
FYE Mar 2026	6.7	−57.5%	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Mar 2026 ¥159bn

Change · 10 yrs +¥26bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	132	n/a
FYE Mar 2018	139	n/a
FYE Mar 2019	143	n/a
FYE Mar 2020	120	n/a
FYE Mar 2021	165	n/a
FYE Mar 2022	183	n/a
FYE Mar 2023	212	n/a
FYE Mar 2024	229	n/a
FYE Mar 2025	184	n/a
FYE Mar 2026	159	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 2,255¥

Change · 10 yrs +824¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,431	n/a
FYE Mar 2018	1,509	n/a
FYE Mar 2019	1,545	n/a
FYE Mar 2020	1,300	n/a
FYE Mar 2021	1,790	n/a
FYE Mar 2022	1,984	n/a
FYE Mar 2023	2,299	n/a
FYE Mar 2024	2,481	n/a
FYE Mar 2025	2,615	n/a
FYE Mar 2026	2,255	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 70,302,608shares

Change · 10 yrs −22,000,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	92,302,608	Parent
FYE Mar 2018	92,302,608	Parent
FYE Mar 2019	92,302,608	Parent
FYE Mar 2020	92,302,608	Parent
FYE Mar 2021	92,302,608	Parent
FYE Mar 2022	92,302,608	Parent
FYE Mar 2023	92,302,608	Parent
FYE Mar 2024	92,302,608	Parent
FYE Mar 2025	70,302,608	Parent
FYE Mar 2026	70,302,608	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 104.87¥

Change · 10 yrs +30.72¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	74.15	Cons.
FYE Mar 2018	142.34	Cons.
FYE Mar 2019	148.58	Cons.
FYE Mar 2020	121.54	Cons.
FYE Mar 2021	62.58	Cons.
FYE Mar 2022	157.46	Cons.
FYE Mar 2023	160.78	Cons.
FYE Mar 2024	137.07	Cons.
FYE Mar 2025	172.05	Cons.
FYE Mar 2026	104.87	Cons.

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

BPS book value per share

FYE Mar 2026 2,053.44¥

Change · 10 yrs +872.30¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,181.14	Cons. · Japanese GAAP
FYE Mar 2018	1,309.77	Cons. · Japanese GAAP
FYE Mar 2019	1,426.96	Cons. · Japanese GAAP
FYE Mar 2020	1,471.37	Cons. · Japanese GAAP
FYE Mar 2021	1,539.06	Cons. · Japanese GAAP
FYE Mar 2022	1,710.54	Cons. · Japanese GAAP
FYE Mar 2023	1,855.68	Cons. · Japanese GAAP
FYE Mar 2024	1,373.85	Cons. · Japanese GAAP
FYE Mar 2025	1,901.72	Cons. · Japanese GAAP
FYE Mar 2026	2,053.44	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 21.50×

Average · 10 yrs 16.13×

Fiscal year	PER ×	Basis
FYE Mar 2017	19.30	Cons.
FYE Mar 2018	10.60	Cons.
FYE Mar 2019	10.40	Cons.
FYE Mar 2020	10.70	Cons.
FYE Mar 2021	28.60	Cons.
FYE Mar 2022	12.60	Cons.
FYE Mar 2023	14.30	Cons.
FYE Mar 2024	18.10	Cons.
FYE Mar 2025	15.20	Cons.
FYE Mar 2026	21.50	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 1.05×

Average · 10 yrs 1.15×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.19	Cons.
FYE Mar 2018	1.14	Cons.
FYE Mar 2019	1.07	Cons.
FYE Mar 2020	0.87	Cons.
FYE Mar 2021	1.15	Cons.
FYE Mar 2022	1.14	Cons.
FYE Mar 2023	1.22	Cons.
FYE Mar 2024	1.32	Cons.
FYE Mar 2025	1.32	Cons.
FYE Mar 2026	1.05	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 11,908people

Change · 10 yrs +6,453 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	5,455	n/a	Cons.
FYE Mar 2018	5,707	+4.6%	Cons.
FYE Mar 2019	6,255	+9.6%	Cons.
FYE Mar 2020	7,995	+27.8%	Cons.
FYE Mar 2021	8,368	+4.7%	Cons.
FYE Mar 2022	9,427	+12.7%	Cons.
FYE Mar 2023	9,436	+0.1%	Cons.
FYE Mar 2024	9,787	+3.7%	Cons.
FYE Mar 2025	10,154	+3.7%	Cons.
FYE Mar 2026	11,908	+17.3%	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 1,539people

Change · 10 yrs −71 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,610	n/a	Parent
FYE Mar 2018	1,618	+0.5%	Parent
FYE Mar 2019	1,636	+1.1%	Parent
FYE Mar 2020	1,638	+0.1%	Parent
FYE Mar 2021	1,637	−0.1%	Parent
FYE Mar 2022	1,610	−1.6%	Parent
FYE Mar 2023	1,583	−1.7%	Parent
FYE Mar 2024	1,555	−1.8%	Parent
FYE Mar 2025	1,560	+0.3%	Parent
FYE Mar 2026	1,539	−1.3%	Parent

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

Average annual pay parent company

FYE Mar 2026 ¥7.3m

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	7.6	n/a	Parent
FYE Mar 2020	7.3	−3.6%	Parent
FYE Mar 2021	6.6	−8.9%	Parent
FYE Mar 2022	7.2	+8.7%	Parent
FYE Mar 2023	7.5	+3.5%	Parent
FYE Mar 2024	7.1	−5.1%	Parent
FYE Mar 2025	7.2	+1.0%	Parent
FYE Mar 2026	7.3	+1.5%	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 41.3years

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	42.3	n/a	Parent
FYE Mar 2020	42.3	−0.0%	Parent
FYE Mar 2021	42.3	−0.0%	Parent
FYE Mar 2022	42.1	−0.5%	Parent
FYE Mar 2023	41.9	−0.5%	Parent
FYE Mar 2024	41.8	−0.2%	Parent
FYE Mar 2025	41.7	−0.2%	Parent
FYE Mar 2026	41.3	−1.0%	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 16.3years

Change · 8 yrs −1.4 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	17.7	n/a	Parent
FYE Mar 2020	17.5	−1.1%	Parent
FYE Mar 2021	17.5	−0.0%	Parent
FYE Mar 2022	17.3	−1.1%	Parent
FYE Mar 2023	16.9	−2.3%	Parent
FYE Mar 2024	16.9	−0.0%	Parent
FYE Mar 2025	16.9	−0.0%	Parent
FYE Mar 2026	16.3	−3.6%	Parent

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

Temporary employees

FYE Mar 2026 214people

Change · 10 yrs −112 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	326	n/a	n/a
FYE Mar 2018	291	−10.7%	n/a
FYE Mar 2019	238	−18.2%	n/a
FYE Mar 2020	183	−23.1%	n/a
FYE Mar 2021	145	−20.8%	n/a
FYE Mar 2022	142	−2.1%	n/a
FYE Mar 2023	162	+14.1%	n/a
FYE Mar 2024	188	+16.0%	n/a
FYE Mar 2025	199	+5.9%	n/a
FYE Mar 2026	214	+7.5%	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 ¥19.1m

Change · 10 yrs −¥19.3m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	38.4	n/a	Cons.
FYE Mar 2018	44.5	+15.9%	Cons.
FYE Mar 2019	35.5	−20.2%	Cons.
FYE Mar 2020	26.0	−26.7%	Cons.
FYE Mar 2021	25.1	−3.7%	Cons.
FYE Mar 2022	23.9	−4.7%	Cons.
FYE Mar 2023	25.0	+4.7%	Cons.
FYE Mar 2024	23.1	−7.7%	Cons.
FYE Mar 2025	21.8	−5.4%	Cons.
FYE Mar 2026	19.1	−12.3%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥0.8m

Change · 10 yrs −¥1.5m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons.
FYE Mar 2018	3.6	+63.5%	Cons.
FYE Mar 2019	2.8	−23.5%	Cons.
FYE Mar 2020	1.8	−36.6%	Cons.
FYE Mar 2021	1.0	−40.7%	Cons.
FYE Mar 2022	1.9	+84.0%	Cons.
FYE Mar 2023	1.9	−2.8%	Cons.
FYE Mar 2024	1.5	−20.8%	Cons.
FYE Mar 2025	1.5	+4.4%	Cons.
FYE Mar 2026	0.8	−51.2%	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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