Financials

Nihon Kohden: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥235bnYoY +4.3%

FYE Mar 2026 · Operating profit¥19bnYoY −9.5%

FYE Mar 2026 · Net profit¥15bnYoY +2.9%

FYE Mar 2026 · Equity ratio70.1%YoY +0.5pp

FYE Mar 2026 · Group employees6,116YoY +2

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥166bn	n/a	¥14bn	n/a	8.2%	¥9.1bn	Ogino Hiroichi	—
FYE Mar 2018Consolidated	¥174bn	+4.8%	¥15bn	+6.9%	8.3%	¥9.2bn	Ogino Hiroichi	Eleven domestic sales subsidiaries merged into the parent
FYE Mar 2019Consolidated	¥179bn	+2.6%	¥15bn	+3.6%	8.4%	¥11bn	Ogino Hiroichi	—
FYE Mar 2020Consolidated	¥185bn	+3.5%	¥16bn	+3.1%	8.4%	¥9.9bn	Ogino Hiroichi	—
FYE Mar 2021Consolidated	¥200bn	+8.0%	¥27bn	+74.8%	13.6%	¥18bn	Ogino Hiroichi	—
FYE Mar 2022Consolidated	¥205bn	+2.7%	¥31bn	+14.4%	15.1%	¥23bn	Ogino Hiroichi	Record year on pandemic demand — <span class="en-history_money" data-yen="199700000000" data-year="2020">$1.9B (¥200bn)</span> in sales
FYE Mar 2023Consolidated	¥207bn	+0.7%	¥21bn	−31.9%	10.2%	¥17bn	Ogino Hiroichi	—
FYE Mar 2024Consolidated	¥222bn	+7.4%	¥20bn	−7.2%	8.8%	¥17bn	Ogino Hiroichi	—
FYE Mar 2025Consolidated	¥225bn	+1.5%	¥21bn	+5.7%	9.2%	¥14bn	Ogino Hiroichi	Takes 71.4% of NeuroAdvanced (US)
FYE Mar 2026Consolidated	¥235bn	+4.3%	¥19bn	−9.5%	8.0%	¥15bn	Ogino Hiroichi	Regional headquarters established in Saudi Arabia

How it compares

Sysmex¥500bnFY2025Operating margin 10.4%

Nihon Kohden¥235bnFY2025Operating margin 8.0%

Nakanishi¥81bnFY2025Operating margin 17.4%

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 ¥235bn

CAGR · 10 yrs +3.9%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	166	n/a	Cons. · Japanese GAAP
FYE Mar 2018	174	+4.8%	Cons. · Japanese GAAP
FYE Mar 2019	179	+2.6%	Cons. · Japanese GAAP
FYE Mar 2020	185	+3.5%	Cons. · Japanese GAAP
FYE Mar 2021	200	+8.0%	Cons. · Japanese GAAP
FYE Mar 2022	205	+2.7%	Cons. · Japanese GAAP
FYE Mar 2023	207	+0.7%	Cons. · Japanese GAAP
FYE Mar 2024	222	+7.4%	Cons. · Japanese GAAP
FYE Mar 2025	225	+1.5%	Cons. · Japanese GAAP
FYE Mar 2026	235	+4.3%	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 ¥113bn

CAGR · 10 yrs +3.0%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	87.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	91.5	+5.1%	Cons. · Japanese GAAP
FYE Mar 2019	92.8	+1.4%	Cons. · Japanese GAAP
FYE Mar 2020	95.7	+3.1%	Cons. · Japanese GAAP
FYE Mar 2021	97.5	+1.9%	Cons. · Japanese GAAP
FYE Mar 2022	96.0	−1.5%	Cons. · Japanese GAAP
FYE Mar 2023	101	+4.8%	Cons. · Japanese GAAP
FYE Mar 2024	111	+9.9%	Cons. · Japanese GAAP
FYE Mar 2025	108	−2.1%	Cons. · Japanese GAAP
FYE Mar 2026	113	+4.7%	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 ¥122bn

CAGR · 10 yrs +4.9%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	79.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	82.8	+4.5%	Cons. · Japanese GAAP
FYE Mar 2019	86.0	+3.9%	Cons. · Japanese GAAP
FYE Mar 2020	89.3	+3.9%	Cons. · Japanese GAAP
FYE Mar 2021	102	+14.5%	Cons. · Japanese GAAP
FYE Mar 2022	109	+6.7%	Cons. · Japanese GAAP
FYE Mar 2023	106	−2.9%	Cons. · Japanese GAAP
FYE Mar 2024	111	+5.1%	Cons. · Japanese GAAP
FYE Mar 2025	117	+5.2%	Cons. · Japanese GAAP
FYE Mar 2026	122	+3.9%	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 ¥103bn

CAGR · 10 yrs +5.1%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	65.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	68.2	+4.0%	Cons. · Japanese GAAP
FYE Mar 2019	70.9	+4.0%	Cons. · Japanese GAAP
FYE Mar 2020	73.8	+4.1%	Cons. · Japanese GAAP
FYE Mar 2021	75.1	+1.8%	Cons. · Japanese GAAP
FYE Mar 2022	78.1	+3.9%	Cons. · Japanese GAAP
FYE Mar 2023	84.8	+8.6%	Cons. · Japanese GAAP
FYE Mar 2024	91.8	+8.2%	Cons. · Japanese GAAP
FYE Mar 2025	96.4	+5.1%	Cons. · Japanese GAAP
FYE Mar 2026	103	+6.8%	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 ¥19bn

CAGR · 10 yrs +3.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	13.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.5	+6.9%	Cons. · Japanese GAAP
FYE Mar 2019	15.0	+3.6%	Cons. · Japanese GAAP
FYE Mar 2020	15.5	+3.1%	Cons. · Japanese GAAP
FYE Mar 2021	27.1	+74.8%	Cons. · Japanese GAAP
FYE Mar 2022	31.0	+14.4%	Cons. · Japanese GAAP
FYE Mar 2023	21.1	−31.9%	Cons. · Japanese GAAP
FYE Mar 2024	19.6	−7.2%	Cons. · Japanese GAAP
FYE Mar 2025	20.7	+5.7%	Cons. · Japanese GAAP
FYE Mar 2026	18.7	−9.5%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥4.5bn

CAGR · 10 yrs +19.8%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	−4.0%	Cons. · Japanese GAAP
FYE Mar 2019	1.0	+13.8%	Cons. · Japanese GAAP
FYE Mar 2020	0.6	−36.0%	Cons. · Japanese GAAP
FYE Mar 2021	1.4	+130.4%	Cons. · Japanese GAAP
FYE Mar 2022	3.9	+171.9%	Cons. · Japanese GAAP
FYE Mar 2023	3.2	−16.6%	Cons. · Japanese GAAP
FYE Mar 2024	6.3	+93.9%	Cons. · Japanese GAAP
FYE Mar 2025	1.1	−82.9%	Cons. · Japanese GAAP
FYE Mar 2026	4.5	+320.1%	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 ¥0.7bn

CAGR · 10 yrs +6.1%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.9	+108.4%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−83.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.3	+797.9%	Cons. · Japanese GAAP
FYE Mar 2021	0.1	−88.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.3	+107.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.2	−24.3%	Cons. · Japanese GAAP
FYE Mar 2024	0.3	+16.2%	Cons. · Japanese GAAP
FYE Mar 2025	1.4	+432.8%	Cons. · Japanese GAAP
FYE Mar 2026	0.7	−50.1%	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 ¥23bn

CAGR · 10 yrs +5.4%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	14.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.5	+3.2%	Cons. · Japanese GAAP
FYE Mar 2019	15.9	+9.4%	Cons. · Japanese GAAP
FYE Mar 2020	14.8	−6.4%	Cons. · Japanese GAAP
FYE Mar 2021	28.4	+91.1%	Cons. · Japanese GAAP
FYE Mar 2022	34.6	+21.8%	Cons. · Japanese GAAP
FYE Mar 2023	24.1	−30.2%	Cons. · Japanese GAAP
FYE Mar 2024	25.6	+6.1%	Cons. · Japanese GAAP
FYE Mar 2025	20.4	−20.4%	Cons. · Japanese GAAP
FYE Mar 2026	22.5	+10.7%	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 ¥0.7bn

CAGR · 10 yrs +6.7%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	−89.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.0	−23.3%	Cons. · Japanese GAAP
FYE Mar 2020	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2021	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−95.8%	Cons. · Japanese GAAP
FYE Mar 2023	0.7	+2708.0%	Cons. · Japanese GAAP
FYE Mar 2024	4.1	+477.5%	Cons. · Japanese GAAP
FYE Mar 2025	2.0	−49.9%	Cons. · Japanese GAAP
FYE Mar 2026	0.7	−63.1%	Cons. · Japanese GAAP

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

Extraordinary loss

FYE Mar 2026 ¥3.4bn

CAGR · 7 yrs +32.6%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.6	−4.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.4	−35.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.9	+127.3%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	0.1	−66.4%	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	3.4	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 ¥15bn

CAGR · 10 yrs +5.3%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	9.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.2	+0.1%	Cons. · Japanese GAAP
FYE Mar 2019	11.2	+22.3%	Cons. · Japanese GAAP
FYE Mar 2020	9.9	−11.9%	Cons. · Japanese GAAP
FYE Mar 2021	18.2	+85.1%	Cons. · Japanese GAAP
FYE Mar 2022	23.4	+28.5%	Cons. · Japanese GAAP
FYE Mar 2023	17.1	−27.0%	Cons. · Japanese GAAP
FYE Mar 2024	17.0	−0.5%	Cons. · Japanese GAAP
FYE Mar 2025	14.1	−17.2%	Cons. · Japanese GAAP
FYE Mar 2026	14.5	+2.9%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 51.8%

Average · 10 yrs 50.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	47.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	47.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	48.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	48.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	51.2	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2022	53.2	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2023	51.3	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	50.2	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	52.0	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	51.8	−0.2pp	Cons. · Japanese GAAP

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

Operating margin

FYE Mar 2026 8.0%

Average · 10 yrs 9.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	8.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	8.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	13.6	+5.2pp	Cons. · Japanese GAAP
FYE Mar 2022	15.1	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	10.2	−4.9pp	Cons. · Japanese GAAP
FYE Mar 2024	8.8	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	9.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	8.0	−1.2pp	Cons. · Japanese GAAP

Definition: The share of revenue the core business keeps
Formula: Operating profit ÷ revenue
Source: Securities report (XBRL)

Ordinary margin

FYE Mar 2026 9.6%

Average · 10 yrs 10.7%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	8.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	8.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	8.0	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	14.2	+6.2pp	Cons. · Japanese GAAP
FYE Mar 2022	16.8	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2023	11.7	−5.2pp	Cons. · Japanese GAAP
FYE Mar 2024	11.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	9.0	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2026	9.6	+0.6pp	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 6.2%

Average · 10 yrs 7.1%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	6.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	5.3	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	9.1	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2022	11.4	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	8.3	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2024	7.7	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	6.3	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	6.2	−0.1pp	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 48.2%

Average · 10 yrs 49.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	52.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	52.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	51.9	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	51.7	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	48.8	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2022	46.8	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2023	48.7	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	49.8	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	48.0	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	48.2	+0.2pp	Cons. · Japanese GAAP

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

SG&A ratio

FYE Mar 2026 43.8%

Average · 10 yrs 40.3%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	39.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	39.7	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	39.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	37.6	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2022	38.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	41.0	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2024	41.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	42.8	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	43.8	+1.0pp	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 ¥257bn

CAGR · 10 yrs +5.9%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	153	n/a	Cons. · Japanese GAAP
FYE Mar 2018	158	+3.3%	Cons. · Japanese GAAP
FYE Mar 2019	170	+7.5%	Cons. · Japanese GAAP
FYE Mar 2020	168	−1.1%	Cons. · Japanese GAAP
FYE Mar 2021	193	+15.0%	Cons. · Japanese GAAP
FYE Mar 2022	210	+8.9%	Cons. · Japanese GAAP
FYE Mar 2023	217	+3.1%	Cons. · Japanese GAAP
FYE Mar 2024	233	+7.6%	Cons. · Japanese GAAP
FYE Mar 2025	258	+10.7%	Cons. · Japanese GAAP
FYE Mar 2026	257	−0.7%	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 ¥180bn

CAGR · 10 yrs +6.3%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	104	n/a	Cons. · Japanese GAAP
FYE Mar 2018	109	+5.3%	Cons. · Japanese GAAP
FYE Mar 2019	116	+6.2%	Cons. · Japanese GAAP
FYE Mar 2020	122	+4.9%	Cons. · Japanese GAAP
FYE Mar 2021	139	+14.1%	Cons. · Japanese GAAP
FYE Mar 2022	156	+12.5%	Cons. · Japanese GAAP
FYE Mar 2023	168	+7.2%	Cons. · Japanese GAAP
FYE Mar 2024	181	+8.0%	Cons. · Japanese GAAP
FYE Mar 2025	180	−0.8%	Cons. · Japanese GAAP
FYE Mar 2026	180	+0.1%	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 ¥22bn

CAGR · 10 yrs +48.8%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.5	−22.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.4	−16.8%	Cons. · Japanese GAAP
FYE Mar 2020	0.4	−13.8%	Cons. · Japanese GAAP
FYE Mar 2021	0.4	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.3	−7.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.4	+24.0%	Cons. · Japanese GAAP
FYE Mar 2024	0.6	+43.7%	Cons. · Japanese GAAP
FYE Mar 2025	26.0	+4395.7%	Cons. · Japanese GAAP
FYE Mar 2026	22.4	−13.8%	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 ¥0.1bn

CAGR · 10 yrs −24.5%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.5	−22.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.4	−16.8%	Cons. · Japanese GAAP
FYE Mar 2020	0.4	−13.8%	Cons. · Japanese GAAP
FYE Mar 2021	0.4	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.3	−7.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.4	+24.0%	Cons. · Japanese GAAP
FYE Mar 2024	0.6	+43.7%	Cons. · Japanese GAAP
FYE Mar 2025	26.0	+4395.7%	Cons. · Japanese GAAP
FYE Mar 2026	0.1	−99.8%	Cons. · Japanese GAAP

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

Intangible assets

FYE Mar 2026 ¥27bn

CAGR · 10 yrs +19.2%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	−9.3%	Cons. · Japanese GAAP
FYE Mar 2019	4.6	−10.2%	Cons. · Japanese GAAP
FYE Mar 2020	4.1	−9.1%	Cons. · Japanese GAAP
FYE Mar 2021	2.3	−43.9%	Cons. · Japanese GAAP
FYE Mar 2022	3.7	+60.5%	Cons. · Japanese GAAP
FYE Mar 2023	4.2	+13.0%	Cons. · Japanese GAAP
FYE Mar 2024	4.9	+14.9%	Cons. · Japanese GAAP
FYE Mar 2025	27.7	+469.9%	Cons. · Japanese GAAP
FYE Mar 2026	27.2	−1.6%	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 ¥13bn

CAGR · 10 yrs +21.5%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.1	−3.4%	Cons. · Japanese GAAP
FYE Mar 2019	1.9	−8.2%	Cons. · Japanese GAAP
FYE Mar 2020	1.8	−8.5%	Cons. · Japanese GAAP
FYE Mar 2021	0.4	−75.7%	Cons. · Japanese GAAP
FYE Mar 2022	0.8	+84.2%	Cons. · Japanese GAAP
FYE Mar 2023	1.0	+31.5%	Cons. · Japanese GAAP
FYE Mar 2024	0.9	−14.5%	Cons. · Japanese GAAP
FYE Mar 2025	12.9	+1348.8%	Cons. · Japanese GAAP
FYE Mar 2026	12.6	−2.8%	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 70.1%

Average · 10 yrs 71.9%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	68.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.3	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	68.4	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	72.6	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2021	72.0	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	74.4	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	77.3	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	77.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	69.5	−8.1pp	Cons. · Japanese GAAP
FYE Mar 2026	70.1	+0.5pp	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 12.5%

Average · 10 yrs 3.0%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	0.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	0.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	0.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	0.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2023	0.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	0.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	14.5	+14.2pp	Cons. · Japanese GAAP
FYE Mar 2026	12.5	−2.0pp	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 8.1%

Average · 10 yrs 9.9%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	8.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	9.6	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	8.1	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	13.1	+5.0pp	Cons. · Japanese GAAP
FYE Mar 2022	15.0	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2023	10.2	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2024	9.4	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	7.9	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	8.1	+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 5.7%

Average · 10 yrs 7.1%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	6.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	5.9	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	9.5	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2022	11.1	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2023	7.9	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2024	7.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	5.5	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	5.7	+0.2pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.92×

CAGR · 10 yrs −1.9%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.09	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.10	+1.4%	Cons. · Japanese GAAP
FYE Mar 2019	1.05	−4.5%	Cons. · Japanese GAAP
FYE Mar 2020	1.10	+4.7%	Cons. · Japanese GAAP
FYE Mar 2021	1.03	−6.2%	Cons. · Japanese GAAP
FYE Mar 2022	0.98	−5.7%	Cons. · Japanese GAAP
FYE Mar 2023	0.95	−2.3%	Cons. · Japanese GAAP
FYE Mar 2024	0.95	−0.2%	Cons. · Japanese GAAP
FYE Mar 2025	0.87	−8.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.92	+5.0%	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 ¥21bn

CAGR · 10 yrs +7.1%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	11.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.8	−4.5%	Cons. · Japanese GAAP
FYE Mar 2019	9.8	−9.4%	Cons. · Japanese GAAP
FYE Mar 2020	9.2	−6.1%	Cons. · Japanese GAAP
FYE Mar 2021	13.9	+51.3%	Cons. · Japanese GAAP
FYE Mar 2022	25.7	+84.3%	Cons. · Japanese GAAP
FYE Mar 2023	-2.5	−109.8%	Cons. · Japanese GAAP
FYE Mar 2024	15.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	15.3	−2.1%	Cons. · Japanese GAAP
FYE Mar 2026	21.1	+37.7%	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 -¥8.3bn

Average · 10 yrs -¥7.1bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-4.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-4.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-5.2	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-25.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-8.3	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 -¥12bn

Average · 10 yrs -¥4.8bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-4.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-3.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-3.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-11.6	−554.9%	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 ¥46bn

CAGR · 10 yrs +5.3%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	28.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	31.3	+9.5%	Cons. · Japanese GAAP
FYE Mar 2019	34.7	+10.9%	Cons. · Japanese GAAP
FYE Mar 2020	35.9	+3.5%	Cons. · Japanese GAAP
FYE Mar 2021	44.4	+23.5%	Cons. · Japanese GAAP
FYE Mar 2022	60.1	+35.5%	Cons. · Japanese GAAP
FYE Mar 2023	44.0	−26.8%	Cons. · Japanese GAAP
FYE Mar 2024	49.9	+13.4%	Cons. · Japanese GAAP
FYE Mar 2025	43.1	−13.7%	Cons. · Japanese GAAP
FYE Mar 2026	45.6	+6.0%	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 ¥13bn

CAGR · 10 yrs +11.0%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.5	+49.6%	Cons. · Japanese GAAP
FYE Mar 2019	6.6	−12.5%	Cons. · Japanese GAAP
FYE Mar 2020	4.6	−29.7%	Cons. · Japanese GAAP
FYE Mar 2021	11.0	+138.6%	Cons. · Japanese GAAP
FYE Mar 2022	21.4	+94.5%	Cons. · Japanese GAAP
FYE Mar 2023	-10.2	−147.5%	Cons. · Japanese GAAP
FYE Mar 2024	10.4	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-9.9	−194.7%	Cons. · Japanese GAAP
FYE Mar 2026	12.8	n/a	Cons. · Japanese GAAP

Definition: What is left once the business has paid for its own investment
Formula: Operating cash flow + investing cash flow
Source: Securities report (XBRL)

Operating cash flow margin

FYE Mar 2026 9.0%

Average · 10 yrs 6.5%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.2	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	5.5	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	5.0	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	7.0	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2022	12.5	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2023	-1.2	−13.7pp	Cons. · Japanese GAAP
FYE Mar 2024	7.0	+8.2pp	Cons. · Japanese GAAP
FYE Mar 2025	6.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	9.0	+2.2pp	Cons. · Japanese GAAP

Definition: How much of the revenue turned into cash
Formula: Operating cash flow ÷ revenue
Source: Securities report (XBRL)

Net cash

FYE Mar 2026 ¥23bn

CAGR · 10 yrs −2.0%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	27.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.8	+10.3%	Cons. · Japanese GAAP
FYE Mar 2019	34.3	+11.3%	Cons. · Japanese GAAP
FYE Mar 2020	35.6	+3.7%	Cons. · Japanese GAAP
FYE Mar 2021	44.0	+23.7%	Cons. · Japanese GAAP
FYE Mar 2022	59.8	+35.8%	Cons. · Japanese GAAP
FYE Mar 2023	43.6	−27.1%	Cons. · Japanese GAAP
FYE Mar 2024	49.3	+13.1%	Cons. · Japanese GAAP
FYE Mar 2025	17.0	−65.5%	Cons. · Japanese GAAP
FYE Mar 2026	23.2	+36.2%	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 ¥249bn

Change · 10 yrs +¥25bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	223	n/a
FYE Mar 2018	266	n/a
FYE Mar 2019	292	n/a
FYE Mar 2020	360	n/a
FYE Mar 2021	287	n/a
FYE Mar 2022	263	n/a
FYE Mar 2023	317	n/a
FYE Mar 2024	354	n/a
FYE Mar 2025	342	n/a
FYE Mar 2026	249	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 1,455¥

Change · 10 yrs −1,034¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	2,489	n/a
FYE Mar 2018	2,962	n/a
FYE Mar 2019	3,286	n/a
FYE Mar 2020	4,062	n/a
FYE Mar 2021	3,235	n/a
FYE Mar 2022	2,959	n/a
FYE Mar 2023	3,598	n/a
FYE Mar 2024	4,009	n/a
FYE Mar 2025	2,003	n/a
FYE Mar 2026	1,455	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 170,961,960shares

Change · 10 yrs +81,230,980 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	89,730,980	Parent
FYE Mar 2018	89,730,980	Parent
FYE Mar 2019	88,730,980	Parent
FYE Mar 2020	88,730,980	Parent
FYE Mar 2021	88,730,980	Parent
FYE Mar 2022	88,730,980	Parent
FYE Mar 2023	88,230,980	Parent
FYE Mar 2024	88,230,980	Parent
FYE Mar 2025	170,961,960	Parent
FYE Mar 2026	170,961,960	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 89.25¥

Change · 10 yrs −17.56¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	106.81	Cons.
FYE Mar 2018	106.92	Cons.
FYE Mar 2019	131.43	Cons.
FYE Mar 2020	115.72	Cons.
FYE Mar 2021	107.11	Cons.
FYE Mar 2022	138.25	Cons.
FYE Mar 2023	101.64	Cons.
FYE Mar 2024	101.23	Cons.
FYE Mar 2025	84.88	Cons.
FYE Mar 2026	89.25	Cons.

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

BPS book value per share

FYE Mar 2026 1,051.25¥

Change · 10 yrs −106.51¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,157.76	Cons. · Japanese GAAP
FYE Mar 2018	1,218.70	Cons. · Japanese GAAP
FYE Mar 2019	1,308.30	Cons. · Japanese GAAP
FYE Mar 2020	1,372.40	Cons. · Japanese GAAP
FYE Mar 2021	1,566.38	Cons. · Japanese GAAP
FYE Mar 2022	1,762.42	Cons. · Japanese GAAP
FYE Mar 2023	1,899.60	Cons. · Japanese GAAP
FYE Mar 2024	2,052.36	Cons. · Japanese GAAP
FYE Mar 2025	1,050.25	Cons. · Japanese GAAP
FYE Mar 2026	1,051.25	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 16.30×

Average · 10 yrs 21.43×

Fiscal year	PER ×	Basis
FYE Mar 2017	23.30	Cons.
FYE Mar 2018	27.70	Cons.
FYE Mar 2019	25.00	Cons.
FYE Mar 2020	35.10	Cons.
FYE Mar 2021	15.10	Cons.
FYE Mar 2022	10.70	Cons.
FYE Mar 2023	17.70	Cons.
FYE Mar 2024	19.80	Cons.
FYE Mar 2025	23.60	Cons.
FYE Mar 2026	16.30	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 1.29×

Average · 10 yrs 2.00×

Fiscal year	PBR ×	Basis
FYE Mar 2017	2.05	Cons.
FYE Mar 2018	2.31	Cons.
FYE Mar 2019	2.41	Cons.
FYE Mar 2020	2.84	Cons.
FYE Mar 2021	1.98	Cons.
FYE Mar 2022	1.60	Cons.
FYE Mar 2023	1.81	Cons.
FYE Mar 2024	1.86	Cons.
FYE Mar 2025	1.82	Cons.
FYE Mar 2026	1.29	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 6,116people

Change · 10 yrs +1,182 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	4,934	n/a	Cons.
FYE Mar 2018	5,031	+2.0%	Cons.
FYE Mar 2019	5,169	+2.7%	Cons.
FYE Mar 2020	5,357	+3.6%	Cons.
FYE Mar 2021	5,531	+3.2%	Cons.
FYE Mar 2022	5,639	+2.0%	Cons.
FYE Mar 2023	5,751	+2.0%	Cons.
FYE Mar 2024	5,891	+2.4%	Cons.
FYE Mar 2025	6,114	+3.8%	Cons.
FYE Mar 2026	6,116	−0.0%	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 3,768people

Change · 10 yrs +1,689 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	2,079	n/a	Parent
FYE Mar 2018	3,358	+61.5%	Parent
FYE Mar 2019	3,382	+0.7%	Parent
FYE Mar 2020	3,451	+2.0%	Parent
FYE Mar 2021	3,482	+0.9%	Parent
FYE Mar 2022	3,539	+1.6%	Parent
FYE Mar 2023	3,623	+2.4%	Parent
FYE Mar 2024	3,720	+2.7%	Parent
FYE Mar 2025	3,893	+4.7%	Parent
FYE Mar 2026	3,768	−3.2%	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 ¥9.4m

Change · 8 yrs +¥0.9m

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	8.5	n/a	Parent
FYE Mar 2020	8.6	+0.8%	Parent
FYE Mar 2021	8.5	−1.0%	Parent
FYE Mar 2022	8.9	+5.3%	Parent
FYE Mar 2023	9.0	+0.9%	Parent
FYE Mar 2024	9.0	+0.4%	Parent
FYE Mar 2025	9.3	+2.5%	Parent
FYE Mar 2026	9.4	+1.9%	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 42.6years

Change · 8 yrs +1.8 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	40.8	n/a	Parent
FYE Mar 2020	41.1	+0.7%	Parent
FYE Mar 2021	41.5	+1.0%	Parent
FYE Mar 2022	41.9	+1.0%	Parent
FYE Mar 2023	42.0	+0.2%	Parent
FYE Mar 2024	42.1	+0.2%	Parent
FYE Mar 2025	42.5	+1.0%	Parent
FYE Mar 2026	42.6	+0.2%	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 15.8years

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	14.4	n/a	Parent
FYE Mar 2020	14.7	+2.1%	Parent
FYE Mar 2021	14.6	−0.7%	Parent
FYE Mar 2022	15.3	+4.8%	Parent
FYE Mar 2023	15.3	−0.0%	Parent
FYE Mar 2024	15.3	−0.0%	Parent
FYE Mar 2025	15.8	+3.3%	Parent
FYE Mar 2026	15.8	−0.0%	Parent

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

Temporary employees

FYE Mar 2026 515people

Change · 10 yrs −130 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	645	n/a	n/a
FYE Mar 2018	614	−4.8%	n/a
FYE Mar 2019	613	−0.2%	n/a
FYE Mar 2020	594	−3.1%	n/a
FYE Mar 2021	584	−1.7%	n/a
FYE Mar 2022	577	−1.2%	n/a
FYE Mar 2023	574	−0.5%	n/a
FYE Mar 2024	571	−0.5%	n/a
FYE Mar 2025	514	−10.0%	n/a
FYE Mar 2026	515	+0.2%	n/a

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

Revenue per employee

FYE Mar 2026 ¥38.4m

Change · 10 yrs +¥4.7m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	33.7	n/a	Cons.
FYE Mar 2018	34.6	+2.8%	Cons.
FYE Mar 2019	34.6	−0.1%	Cons.
FYE Mar 2020	34.5	−0.2%	Cons.
FYE Mar 2021	36.1	+4.6%	Cons.
FYE Mar 2022	36.4	+0.7%	Cons.
FYE Mar 2023	35.9	−1.2%	Cons.
FYE Mar 2024	37.7	+4.9%	Cons.
FYE Mar 2025	36.9	−2.2%	Cons.
FYE Mar 2026	38.4	+4.3%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥3.1m

Change · 10 yrs +¥0.3m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.8	n/a	Cons.
FYE Mar 2018	2.9	+4.8%	Cons.
FYE Mar 2019	2.9	+0.9%	Cons.
FYE Mar 2020	2.9	−0.6%	Cons.
FYE Mar 2021	4.9	+69.3%	Cons.
FYE Mar 2022	5.5	+12.2%	Cons.
FYE Mar 2023	3.7	−33.2%	Cons.
FYE Mar 2024	3.3	−9.4%	Cons.
FYE Mar 2025	3.4	+1.9%	Cons.
FYE Mar 2026	3.1	−9.5%	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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