Financials

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

FYE Mar 2026 · Revenue¥179bnYoY −8.8%

FYE Mar 2026 · Operating profit¥26bnYoY −26.7%

FYE Mar 2026 · Net profit¥22bnYoY +18.2%

FYE Mar 2026 · Equity ratio59.9%YoY −1.6pp

FYE Mar 2026 · Group employees3,731YoY +127

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥100bn	n/a	¥2.1bn	n/a	2.1%	¥0.6bn	Kurihara Gonemon	—
FYE Mar 2018Consolidated	¥105bn	+4.9%	¥3.9bn	+89.2%	3.8%	¥4.5bn	Kurihara Gonemon	—
FYE Mar 2019Consolidated	¥111bn	+6.4%	¥6.7bn	+69.8%	6.0%	¥5.9bn	Kurihara Gonemon	—
FYE Mar 2020Consolidated	¥117bn	+5.4%	¥7.0bn	+5.4%	6.0%	¥5.4bn	Kurihara Gonemon	<a class="en-history_person" href="/tse/6951/executives/ceo/oi-izumi/" hreflang="ja">Oi Izumi</a> becomes president and COO; <a class="en-history_person" href="/tse/6951/executives/ceo/kurihara-gonemon/" hreflang="ja">Kurihara Gonemon</a> becomes chairman
FYE Mar 2021Consolidated	¥110bn	−5.8%	¥5.2bn	−25.7%	4.7%	¥3.7bn	Oi Izumi	Integrated Dynamic Electron Solutions, Inc. is acquired outright
FYE Mar 2022Consolidated	¥138bn	+25.3%	¥14bn	+170.8%	10.2%	¥12bn	Oi Izumi	JEOL Technics is absorbed; the Musashimurayama plant opens in October
FYE Mar 2023Consolidated	¥163bn	+17.5%	¥24bn	+70.8%	14.8%	¥18bn	Oi Izumi	Oi becomes president and CEO; <q>VISION 2030</q> is set out
FYE Mar 2024Consolidated	¥174bn	+7.2%	¥28bn	+14.0%	15.8%	¥22bn	Oi Izumi	—
FYE Mar 2025Consolidated	¥197bn	+12.8%	¥36bn	+28.9%	18.0%	¥19bn	Oi Izumi	Sales reach ¥174.3bn with operating profit of ¥27.5bn
FYE Mar 2026Consolidated	¥179bn	−8.8%	¥26bn	−26.7%	14.5%	¥22bn	Oi Izumi	Japan Superconductor Technology, Inc. is acquired for its magnet technology

How it compares

Keyence¥1.17tnFY2025Operating margin 51.0%Yokogawa Electric¥605bnFY2025Operating margin 13.6%Shimadzu¥561bnFY2025Operating margin 13.1%Horiba¥333bnFY2025Operating margin 15.9%Azbil¥299bnFY2025Operating margin 15.8%

JEOL¥179bnFY2025Operating margin 14.5%

Furuno Electric¥141bnFY2025Operating margin 11.6%

Anritsu¥117bnFY2025Operating margin 12.6%

Rigaku Holdings Corporation¥94bnFY2025Operating margin 17.7%

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 ¥179bn

CAGR · 10 yrs +6.7%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	99.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	105	+4.9%	Cons. · Japanese GAAP
FYE Mar 2019	111	+6.4%	Cons. · Japanese GAAP
FYE Mar 2020	117	+5.4%	Cons. · Japanese GAAP
FYE Mar 2021	110	−5.8%	Cons. · Japanese GAAP
FYE Mar 2022	138	+25.3%	Cons. · Japanese GAAP
FYE Mar 2023	163	+17.5%	Cons. · Japanese GAAP
FYE Mar 2024	174	+7.2%	Cons. · Japanese GAAP
FYE Mar 2025	197	+12.8%	Cons. · Japanese GAAP
FYE Mar 2026	179	−8.8%	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 ¥96bn

CAGR · 10 yrs +4.5%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	64.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	67.1	+3.5%	Cons. · Japanese GAAP
FYE Mar 2019	68.9	+2.6%	Cons. · Japanese GAAP
FYE Mar 2020	72.4	+5.1%	Cons. · Japanese GAAP
FYE Mar 2021	67.5	−6.7%	Cons. · Japanese GAAP
FYE Mar 2022	83.0	+22.9%	Cons. · Japanese GAAP
FYE Mar 2023	90.0	+8.4%	Cons. · Japanese GAAP
FYE Mar 2024	95.1	+5.6%	Cons. · Japanese GAAP
FYE Mar 2025	104	+9.7%	Cons. · Japanese GAAP
FYE Mar 2026	96.3	−7.6%	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 ¥83bn

CAGR · 10 yrs +10.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	34.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	37.5	+7.5%	Cons. · Japanese GAAP
FYE Mar 2019	42.4	+13.2%	Cons. · Japanese GAAP
FYE Mar 2020	44.9	+5.7%	Cons. · Japanese GAAP
FYE Mar 2021	42.9	−4.4%	Cons. · Japanese GAAP
FYE Mar 2022	55.4	+29.1%	Cons. · Japanese GAAP
FYE Mar 2023	72.7	+31.3%	Cons. · Japanese GAAP
FYE Mar 2024	79.3	+9.1%	Cons. · Japanese GAAP
FYE Mar 2025	92.4	+16.5%	Cons. · Japanese GAAP
FYE Mar 2026	83.0	−10.1%	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 ¥57bn

CAGR · 10 yrs +6.3%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	32.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.6	+2.3%	Cons. · Japanese GAAP
FYE Mar 2019	35.8	+6.6%	Cons. · Japanese GAAP
FYE Mar 2020	37.8	+5.8%	Cons. · Japanese GAAP
FYE Mar 2021	37.7	−0.4%	Cons. · Japanese GAAP
FYE Mar 2022	41.2	+9.4%	Cons. · Japanese GAAP
FYE Mar 2023	48.5	+17.8%	Cons. · Japanese GAAP
FYE Mar 2024	51.8	+6.6%	Cons. · Japanese GAAP
FYE Mar 2025	56.9	+9.9%	Cons. · Japanese GAAP
FYE Mar 2026	57.0	+0.2%	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 ¥26bn

CAGR · 10 yrs +32.4%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	2.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.9	+89.2%	Cons. · Japanese GAAP
FYE Mar 2019	6.7	+69.8%	Cons. · Japanese GAAP
FYE Mar 2020	7.0	+5.4%	Cons. · Japanese GAAP
FYE Mar 2021	5.2	−25.7%	Cons. · Japanese GAAP
FYE Mar 2022	14.1	+170.8%	Cons. · Japanese GAAP
FYE Mar 2023	24.2	+70.8%	Cons. · Japanese GAAP
FYE Mar 2024	27.5	+14.0%	Cons. · Japanese GAAP
FYE Mar 2025	35.5	+28.9%	Cons. · Japanese GAAP
FYE Mar 2026	26.0	−26.7%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥2.9bn

CAGR · 10 yrs +14.4%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	+11.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.3	+39.1%	Cons. · Japanese GAAP
FYE Mar 2020	1.1	−19.9%	Cons. · Japanese GAAP
FYE Mar 2021	1.6	+50.2%	Cons. · Japanese GAAP
FYE Mar 2022	2.4	+51.5%	Cons. · Japanese GAAP
FYE Mar 2023	0.8	−66.3%	Cons. · Japanese GAAP
FYE Mar 2024	2.8	+243.9%	Cons. · Japanese GAAP
FYE Mar 2025	1.2	−56.5%	Cons. · Japanese GAAP
FYE Mar 2026	2.9	+135.4%	Cons. · Japanese GAAP

Definition: Income from outside the core business
Formula: Non-operating income line of the income statement
Source: Securities report (XBRL)

Non-operating expenses

FYE Mar 2026 ¥0.3bn

CAGR · 10 yrs −14.8%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.5	−56.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.6	+7.2%	Cons. · Japanese GAAP
FYE Mar 2020	0.9	+59.1%	Cons. · Japanese GAAP
FYE Mar 2021	0.3	−69.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.3	−6.1%	Cons. · Japanese GAAP
FYE Mar 2023	1.5	+464.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.3	−78.2%	Cons. · Japanese GAAP
FYE Mar 2025	2.3	+616.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.3	−87.6%	Cons. · Japanese GAAP

Definition: Costs arising outside the core business
Formula: Non-operating expenses line of the income statement
Source: Securities report (XBRL)

Ordinary profit keijo rieki

FYE Mar 2026 ¥29bn

CAGR · 10 yrs +36.6%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	1.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.4	+153.1%	Cons. · Japanese GAAP
FYE Mar 2019	7.4	+70.5%	Cons. · Japanese GAAP
FYE Mar 2020	7.2	−3.2%	Cons. · Japanese GAAP
FYE Mar 2021	6.6	−9.1%	Cons. · Japanese GAAP
FYE Mar 2022	16.3	+149.1%	Cons. · Japanese GAAP
FYE Mar 2023	23.5	+44.1%	Cons. · Japanese GAAP
FYE Mar 2024	30.0	+27.8%	Cons. · Japanese GAAP
FYE Mar 2025	34.4	+14.7%	Cons. · Japanese GAAP
FYE Mar 2026	28.6	−16.9%	Cons. · Japanese GAAP

Definition: A level of profit that exists only under Japanese GAAP
Formula: Operating profit + non-operating income − non-operating expenses
Source: Securities report (XBRL)

Extraordinary income

FYE Mar 2026 ¥1.1bn

CAGR · 10 yrs +8.0%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.5	−8.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−73.3%	Cons. · Japanese GAAP
FYE Mar 2020	0.6	+334.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.1	−80.7%	Cons. · Japanese GAAP
FYE Mar 2022	0.4	+276.5%	Cons. · Japanese GAAP
FYE Mar 2023	1.0	+142.3%	Cons. · Japanese GAAP
FYE Mar 2024	0.2	−80.6%	Cons. · Japanese GAAP
FYE Mar 2025	2.9	+1335.3%	Cons. · Japanese GAAP
FYE Mar 2026	1.1	−61.9%	Cons. · Japanese GAAP

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

Extraordinary loss

FYE Mar 2026 n/a

CAGR · 6 yrs +324.4%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.1	+800.0%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−22.2%	Cons. · Japanese GAAP
FYE Mar 2020	0.3	+450.8%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	12.4	n/a	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 ¥22bn

CAGR · 10 yrs +49.4%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.5	+661.7%	Cons. · Japanese GAAP
FYE Mar 2019	5.9	+31.1%	Cons. · Japanese GAAP
FYE Mar 2020	5.4	−9.8%	Cons. · Japanese GAAP
FYE Mar 2021	3.7	−30.1%	Cons. · Japanese GAAP
FYE Mar 2022	12.3	+227.9%	Cons. · Japanese GAAP
FYE Mar 2023	17.8	+45.2%	Cons. · Japanese GAAP
FYE Mar 2024	21.7	+21.7%	Cons. · Japanese GAAP
FYE Mar 2025	18.7	−13.9%	Cons. · Japanese GAAP
FYE Mar 2026	22.1	+18.2%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 46.3%

Average · 10 yrs 41.0%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	35.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.9	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	38.1	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2020	38.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	38.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	40.0	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	44.7	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2024	45.5	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	47.0	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	46.3	−0.7pp	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 14.5%

Average · 10 yrs 9.6%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	2.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.8	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2019	6.0	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2020	6.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	4.7	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	10.2	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2023	14.8	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2024	15.8	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	18.0	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	14.5	−3.5pp	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 16.0%

Average · 10 yrs 10.2%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	1.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.2	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2019	6.7	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2020	6.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	5.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	11.8	+5.9pp	Cons. · Japanese GAAP
FYE Mar 2023	14.4	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2024	17.2	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2025	17.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	16.0	−1.5pp	Cons. · Japanese GAAP

Definition: The share of revenue left at the ordinary-profit line
Formula: Ordinary profit ÷ revenue
Source: Securities report (XBRL)

Net margin

FYE Mar 2026 12.3%

Average · 10 yrs 7.2%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.3	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2019	5.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	4.6	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	3.4	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2022	8.9	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2023	11.0	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	12.4	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	9.5	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2026	12.3	+2.8pp	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 53.7%

Average · 10 yrs 59.0%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	65.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	64.1	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	61.9	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2020	61.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	61.2	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	60.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	55.3	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2024	54.5	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	53.0	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	53.7	+0.7pp	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 31.8%

Average · 10 yrs 31.4%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	32.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.1	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	32.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	32.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	34.1	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	29.8	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2023	29.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	29.7	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	28.9	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	31.8	+2.9pp	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 ¥242bn

CAGR · 10 yrs +9.3%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	109	n/a	Cons. · Japanese GAAP
FYE Mar 2018	115	+5.1%	Cons. · Japanese GAAP
FYE Mar 2019	123	+7.0%	Cons. · Japanese GAAP
FYE Mar 2020	137	+11.5%	Cons. · Japanese GAAP
FYE Mar 2021	146	+7.0%	Cons. · Japanese GAAP
FYE Mar 2022	190	+29.5%	Cons. · Japanese GAAP
FYE Mar 2023	199	+5.1%	Cons. · Japanese GAAP
FYE Mar 2024	230	+15.5%	Cons. · Japanese GAAP
FYE Mar 2025	222	−3.4%	Cons. · Japanese GAAP
FYE Mar 2026	242	+8.8%	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 ¥145bn

CAGR · 10 yrs +18.2%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	32.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	37.4	+15.8%	Cons. · Japanese GAAP
FYE Mar 2019	41.6	+11.2%	Cons. · Japanese GAAP
FYE Mar 2020	45.1	+8.4%	Cons. · Japanese GAAP
FYE Mar 2021	51.0	+13.1%	Cons. · Japanese GAAP
FYE Mar 2022	85.9	+68.4%	Cons. · Japanese GAAP
FYE Mar 2023	102	+18.6%	Cons. · Japanese GAAP
FYE Mar 2024	126	+23.2%	Cons. · Japanese GAAP
FYE Mar 2025	137	+8.9%	Cons. · Japanese GAAP
FYE Mar 2026	145	+6.0%	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 ¥22bn

CAGR · 10 yrs −0.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	23.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.7	−25.6%	Cons. · Japanese GAAP
FYE Mar 2019	15.4	−12.6%	Cons. · Japanese GAAP
FYE Mar 2020	22.8	+48.0%	Cons. · Japanese GAAP
FYE Mar 2021	29.6	+29.5%	Cons. · Japanese GAAP
FYE Mar 2022	16.2	−45.3%	Cons. · Japanese GAAP
FYE Mar 2023	11.3	−30.3%	Cons. · Japanese GAAP
FYE Mar 2024	14.5	+28.9%	Cons. · Japanese GAAP
FYE Mar 2025	7.6	−47.8%	Cons. · Japanese GAAP
FYE Mar 2026	21.9	+188.8%	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 ¥14bn

CAGR · 10 yrs +2.6%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	11.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.6	−13.7%	Cons. · Japanese GAAP
FYE Mar 2019	10.1	+4.6%	Cons. · Japanese GAAP
FYE Mar 2020	13.5	+34.1%	Cons. · Japanese GAAP
FYE Mar 2021	12.7	−5.7%	Cons. · Japanese GAAP
FYE Mar 2022	4.9	−61.4%	Cons. · Japanese GAAP
FYE Mar 2023	4.7	−3.4%	Cons. · Japanese GAAP
FYE Mar 2024	6.9	+46.5%	Cons. · Japanese GAAP
FYE Mar 2025	4.4	−36.4%	Cons. · Japanese GAAP
FYE Mar 2026	14.0	+217.2%	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 ¥7.9bn

CAGR · 10 yrs −5.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	12.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.0	−36.1%	Cons. · Japanese GAAP
FYE Mar 2019	5.4	−33.1%	Cons. · Japanese GAAP
FYE Mar 2020	9.4	+73.8%	Cons. · Japanese GAAP
FYE Mar 2021	16.9	+80.3%	Cons. · Japanese GAAP
FYE Mar 2022	11.3	−33.2%	Cons. · Japanese GAAP
FYE Mar 2023	6.5	−42.1%	Cons. · Japanese GAAP
FYE Mar 2024	7.6	+16.2%	Cons. · Japanese GAAP
FYE Mar 2025	3.2	−58.2%	Cons. · Japanese GAAP
FYE Mar 2026	7.9	+149.3%	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 ¥4.9bn

CAGR · 10 yrs +5.5%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.6	−13.3%	Cons. · Japanese GAAP
FYE Mar 2019	2.2	−14.5%	Cons. · Japanese GAAP
FYE Mar 2020	5.2	+133.2%	Cons. · Japanese GAAP
FYE Mar 2021	3.6	−30.9%	Cons. · Japanese GAAP
FYE Mar 2022	3.4	−6.0%	Cons. · Japanese GAAP
FYE Mar 2023	2.8	−18.0%	Cons. · Japanese GAAP
FYE Mar 2024	2.3	−18.7%	Cons. · Japanese GAAP
FYE Mar 2025	3.8	+66.3%	Cons. · Japanese GAAP
FYE Mar 2026	4.9	+29.6%	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 ¥0.8bn

CAGR · 10 yrs −12.1%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	2.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.1	−14.8%	Cons. · Japanese GAAP
FYE Mar 2019	1.8	−17.4%	Cons. · Japanese GAAP
FYE Mar 2020	3.0	+68.2%	Cons. · Japanese GAAP
FYE Mar 2021	1.3	−55.9%	Cons. · Japanese GAAP
FYE Mar 2022	1.1	−12.7%	Cons. · Japanese GAAP
FYE Mar 2023	0.6	−43.7%	Cons. · Japanese GAAP
FYE Mar 2024	0.6	−6.4%	Cons. · Japanese GAAP
FYE Mar 2025	0.9	+52.1%	Cons. · Japanese GAAP
FYE Mar 2026	0.8	−13.8%	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 59.9%

Average · 10 yrs 43.6%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	29.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.6	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2019	33.9	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	33.0	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2021	34.8	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	45.3	+10.5pp	Cons. · Japanese GAAP
FYE Mar 2023	51.1	+5.8pp	Cons. · Japanese GAAP
FYE Mar 2024	54.5	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2025	61.4	+6.9pp	Cons. · Japanese GAAP
FYE Mar 2026	59.9	−1.6pp	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 15.1%

Average · 10 yrs 32.9%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	73.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	47.2	−26.3pp	Cons. · Japanese GAAP
FYE Mar 2019	37.1	−10.1pp	Cons. · Japanese GAAP
FYE Mar 2020	50.7	+13.6pp	Cons. · Japanese GAAP
FYE Mar 2021	58.0	+7.3pp	Cons. · Japanese GAAP
FYE Mar 2022	18.8	−39.2pp	Cons. · Japanese GAAP
FYE Mar 2023	11.1	−7.8pp	Cons. · Japanese GAAP
FYE Mar 2024	11.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	5.5	−6.0pp	Cons. · Japanese GAAP
FYE Mar 2026	15.1	+9.6pp	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 15.3%

Average · 10 yrs 12.5%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.1	+10.3pp	Cons. · Japanese GAAP
FYE Mar 2019	14.3	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2020	11.9	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2021	7.3	−4.5pp	Cons. · Japanese GAAP
FYE Mar 2022	14.3	+6.9pp	Cons. · Japanese GAAP
FYE Mar 2023	17.5	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2024	17.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	13.7	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2026	15.3	+1.6pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 9.1%

Average · 10 yrs 5.8%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.0	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2019	4.8	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	3.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	2.6	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2022	6.5	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2023	8.9	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2024	9.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	8.4	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	9.1	+0.7pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.74×

CAGR · 10 yrs −2.3%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.91	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.91	−0.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.91	−0.5%	Cons. · Japanese GAAP
FYE Mar 2020	0.86	−5.5%	Cons. · Japanese GAAP
FYE Mar 2021	0.75	−12.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.73	−3.2%	Cons. · Japanese GAAP
FYE Mar 2023	0.82	+11.8%	Cons. · Japanese GAAP
FYE Mar 2024	0.76	−7.2%	Cons. · Japanese GAAP
FYE Mar 2025	0.88	+16.7%	Cons. · Japanese GAAP
FYE Mar 2026	0.74	−16.2%	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 ¥16bn

Average · 10 yrs ¥9.8bn

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	4.8	−27.1%	Cons. · Japanese GAAP
FYE Mar 2020	3.7	−21.3%	Cons. · Japanese GAAP
FYE Mar 2021	3.4	−10.3%	Cons. · Japanese GAAP
FYE Mar 2022	22.6	+573.1%	Cons. · Japanese GAAP
FYE Mar 2023	3.4	−85.2%	Cons. · Japanese GAAP
FYE Mar 2024	15.3	+356.6%	Cons. · Japanese GAAP
FYE Mar 2025	23.1	+51.0%	Cons. · Japanese GAAP
FYE Mar 2026	16.0	−30.7%	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 -¥14bn

Average · 10 yrs -¥5.2bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-1.5	−412.2%	Cons. · Japanese GAAP
FYE Mar 2020	-4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-18.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-13.8	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 -¥1.6bn

Average · 10 yrs -¥2.6bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2020	5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	3.3	−38.9%	Cons. · Japanese GAAP
FYE Mar 2022	5.5	+67.4%	Cons. · Japanese GAAP
FYE Mar 2023	-8.7	−258.3%	Cons. · Japanese GAAP
FYE Mar 2024	-0.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-17.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-1.6	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 ¥37bn

CAGR · 10 yrs +16.5%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	9.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.8	+4.2%	Cons. · Japanese GAAP
FYE Mar 2019	9.3	−5.6%	Cons. · Japanese GAAP
FYE Mar 2020	14.0	+51.5%	Cons. · Japanese GAAP
FYE Mar 2021	14.5	+3.2%	Cons. · Japanese GAAP
FYE Mar 2022	42.4	+192.5%	Cons. · Japanese GAAP
FYE Mar 2023	32.0	−24.4%	Cons. · Japanese GAAP
FYE Mar 2024	29.8	−6.9%	Cons. · Japanese GAAP
FYE Mar 2025	34.6	+16.1%	Cons. · Japanese GAAP
FYE Mar 2026	37.3	+7.9%	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 ¥2.2bn

Average · 10 yrs ¥4.6bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-1.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	3.3	−52.9%	Cons. · Japanese GAAP
FYE Mar 2020	-0.4	−113.0%	Cons. · Japanese GAAP
FYE Mar 2021	-3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	22.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-2.4	−110.9%	Cons. · Japanese GAAP
FYE Mar 2024	-2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2025	22.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	2.2	−89.9%	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 8.9%

Average · 10 yrs 6.4%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	-0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.2	+6.8pp	Cons. · Japanese GAAP
FYE Mar 2019	4.3	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2020	3.2	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	3.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	16.3	+13.3pp	Cons. · Japanese GAAP
FYE Mar 2023	2.1	−14.3pp	Cons. · Japanese GAAP
FYE Mar 2024	8.8	+6.7pp	Cons. · Japanese GAAP
FYE Mar 2025	11.7	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2026	8.9	−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 ¥15bn

Average · 10 yrs ¥5.2bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-14.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-6.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-8.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-15.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	26.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	20.7	−20.8%	Cons. · Japanese GAAP
FYE Mar 2024	15.3	−26.3%	Cons. · Japanese GAAP
FYE Mar 2025	27.0	+76.8%	Cons. · Japanese GAAP
FYE Mar 2026	15.4	−42.9%	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 ¥295bn

Change · 10 yrs +¥237bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	57.8	n/a
FYE Mar 2018	95.7	n/a
FYE Mar 2019	97.3	n/a
FYE Mar 2020	129	n/a
FYE Mar 2021	214	n/a
FYE Mar 2022	354	n/a
FYE Mar 2023	219	n/a
FYE Mar 2024	323	n/a
FYE Mar 2025	236	n/a
FYE Mar 2026	295	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 5,719¥

Change · 10 yrs +5,127¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	592	n/a
FYE Mar 2018	979	n/a
FYE Mar 2019	1,992	n/a
FYE Mar 2020	2,637	n/a
FYE Mar 2021	4,390	n/a
FYE Mar 2022	6,870	n/a
FYE Mar 2023	4,244	n/a
FYE Mar 2024	6,259	n/a
FYE Mar 2025	4,580	n/a
FYE Mar 2026	5,719	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 51,532,000shares

Change · 10 yrs −46,183,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	97,715,000	Parent
FYE Mar 2018	97,715,000	Parent
FYE Mar 2019	48,857,000	Parent
FYE Mar 2020	48,857,000	Parent
FYE Mar 2021	48,857,000	Parent
FYE Mar 2022	51,532,000	Parent
FYE Mar 2023	51,532,000	Parent
FYE Mar 2024	51,532,000	Parent
FYE Mar 2025	51,532,000	Parent
FYE Mar 2026	51,532,000	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 432.58¥

Change · 10 yrs +426.41¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	6.17	Cons.
FYE Mar 2018	93.81	Cons.
FYE Mar 2019	122.95	Cons.
FYE Mar 2020	110.94	Cons.
FYE Mar 2021	77.51	Cons.
FYE Mar 2022	246.78	Cons.
FYE Mar 2023	349.34	Cons.
FYE Mar 2024	424.92	Cons.
FYE Mar 2025	365.55	Cons.
FYE Mar 2026	432.58	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 2,811.81¥

Change · 10 yrs +2,481.42¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	330.39	Cons. · Japanese GAAP
FYE Mar 2018	382.61	Cons. · Japanese GAAP
FYE Mar 2019	851.32	Cons. · Japanese GAAP
FYE Mar 2020	922.69	Cons. · Japanese GAAP
FYE Mar 2021	1,043.84	Cons. · Japanese GAAP
FYE Mar 2022	1,667.00	Cons. · Japanese GAAP
FYE Mar 2023	1,977.32	Cons. · Japanese GAAP
FYE Mar 2024	2,435.63	Cons. · Japanese GAAP
FYE Mar 2025	2,651.81	Cons. · Japanese GAAP
FYE Mar 2026	2,811.81	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 13.22×

Average · 10 yrs 29.39×

Fiscal year	PER ×	Basis
FYE Mar 2017	95.95	Cons.
FYE Mar 2018	20.87	Cons.
FYE Mar 2019	16.20	Cons.
FYE Mar 2020	23.77	Cons.
FYE Mar 2021	56.64	Cons.
FYE Mar 2022	27.84	Cons.
FYE Mar 2023	12.15	Cons.
FYE Mar 2024	14.73	Cons.
FYE Mar 2025	12.53	Cons.
FYE Mar 2026	13.22	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 1.92×

Average · 10 yrs 2.60×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.77	Cons.
FYE Mar 2018	2.53	Cons.
FYE Mar 2019	2.31	Cons.
FYE Mar 2020	2.83	Cons.
FYE Mar 2021	4.16	Cons.
FYE Mar 2022	4.08	Cons.
FYE Mar 2023	2.13	Cons.
FYE Mar 2024	2.55	Cons.
FYE Mar 2025	1.71	Cons.
FYE Mar 2026	1.92	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 3,731people

Change · 10 yrs +755 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	2,976	n/a	Cons.
FYE Mar 2018	3,008	+1.1%	Cons.
FYE Mar 2019	3,029	+0.7%	Cons.
FYE Mar 2020	3,165	+4.5%	Cons.
FYE Mar 2021	3,198	+1.0%	Cons.
FYE Mar 2022	3,291	+2.9%	Cons.
FYE Mar 2023	3,351	+1.8%	Cons.
FYE Mar 2024	3,435	+2.5%	Cons.
FYE Mar 2025	3,604	+4.9%	Cons.
FYE Mar 2026	3,731	+3.5%	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 2,313people

Change · 10 yrs +404 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,909	n/a	Parent
FYE Mar 2018	1,912	+0.2%	Parent
FYE Mar 2019	1,907	−0.3%	Parent
FYE Mar 2020	1,920	+0.7%	Parent
FYE Mar 2021	1,950	+1.6%	Parent
FYE Mar 2022	2,092	+7.3%	Parent
FYE Mar 2023	2,259	+8.0%	Parent
FYE Mar 2024	2,277	+0.8%	Parent
FYE Mar 2025	2,315	+1.7%	Parent
FYE Mar 2026	2,313	−0.1%	Parent

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

Average annual pay parent company

FYE Mar 2026 ¥8.6m

Change · 8 yrs +¥1.1m

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	7.5	n/a	Parent
FYE Mar 2020	7.8	+4.3%	Parent
FYE Mar 2021	7.7	−1.6%	Parent
FYE Mar 2022	7.7	+0.4%	Parent
FYE Mar 2023	7.9	+1.9%	Parent
FYE Mar 2024	8.0	+1.7%	Parent
FYE Mar 2025	8.3	+3.1%	Parent
FYE Mar 2026	8.6	+3.6%	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 44.6years

Change · 8 yrs +0.3 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	44.3	n/a	Parent
FYE Mar 2020	44.6	+0.7%	Parent
FYE Mar 2021	44.7	+0.2%	Parent
FYE Mar 2022	44.5	−0.4%	Parent
FYE Mar 2023	44.6	+0.2%	Parent
FYE Mar 2024	44.6	−0.0%	Parent
FYE Mar 2025	44.5	−0.2%	Parent
FYE Mar 2026	44.6	+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 15.9years

Change · 8 yrs −1.7 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	17.6	n/a	Parent
FYE Mar 2020	17.7	+0.6%	Parent
FYE Mar 2021	17.8	+0.6%	Parent
FYE Mar 2022	17.3	−2.8%	Parent
FYE Mar 2023	16.9	−2.3%	Parent
FYE Mar 2024	16.8	−0.6%	Parent
FYE Mar 2025	16.6	−1.2%	Parent
FYE Mar 2026	15.9	−4.2%	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)

Revenue per employee

FYE Mar 2026 ¥48.1m

Change · 10 yrs +¥14.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	33.5	n/a	Cons.
FYE Mar 2018	34.8	+3.8%	Cons.
FYE Mar 2019	36.7	+5.7%	Cons.
FYE Mar 2020	37.0	+0.8%	Cons.
FYE Mar 2021	34.5	−6.8%	Cons.
FYE Mar 2022	42.1	+21.8%	Cons.
FYE Mar 2023	48.5	+15.4%	Cons.
FYE Mar 2024	50.8	+4.5%	Cons.
FYE Mar 2025	54.6	+7.5%	Cons.
FYE Mar 2026	48.1	−11.9%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥7.0m

Change · 10 yrs +¥6.3m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	0.7	n/a	Cons.
FYE Mar 2018	1.3	+87.2%	Cons.
FYE Mar 2019	2.2	+68.6%	Cons.
FYE Mar 2020	2.2	+0.9%	Cons.
FYE Mar 2021	1.6	−26.5%	Cons.
FYE Mar 2022	4.3	+163.1%	Cons.
FYE Mar 2023	7.2	+67.7%	Cons.
FYE Mar 2024	8.0	+11.2%	Cons.
FYE Mar 2025	9.9	+22.9%	Cons.
FYE Mar 2026	7.0	−29.2%	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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