Financials

Namura Shipbuilding: FYE Mar 2026 and ten years of results (48 metrics)

FYE Mar 2026 · Revenue¥159bnYoY −0.1%

FYE Mar 2026 · Operating profit¥28bnYoY −4.7%

FYE Mar 2026 · Net profit¥22bnYoY −17.7%

FYE Mar 2026 · Equity ratio51.5%YoY +1.3pp

FYE Mar 2026 · Group employees2,436YoY +139

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥137bn	n/a	-¥9.3bn	n/a	-6.8%	-¥11bn	Namura Kensuke	—
FYE Mar 2018Consolidated	¥135bn	−1.7%	-¥19bn	n/a	-14.4%	-¥21bn	Namura Kensuke	First of five consecutive years of operating losses
FYE Mar 2019Consolidated	¥125bn	−7.6%	-¥4.1bn	n/a	-3.3%	¥0.6bn	Namura Kensuke	Oriimec sold to Amada — exit from machine tools
FYE Mar 2020Consolidated	¥112bn	−10.2%	-¥16bn	n/a	-14.3%	-¥18bn	Namura Kensuke	—
FYE Mar 2021Consolidated	¥98bn	−12.1%	-¥10bn	n/a	-10.6%	-¥19bn	Namura Kensuke	—
FYE Mar 2022Consolidated	¥83bn	−15.2%	-¥9.5bn	n/a	-11.4%	-¥8.4bn	Namura Kensuke	—
FYE Mar 2023Consolidated	¥124bn	+48.7%	¥9.6bn	n/a	7.7%	¥11bn	Namura Kensuke	Sasebo newbuilding suspended; shipbuilding concentrated at Imari
FYE Mar 2024Consolidated	¥135bn	+8.8%	¥16bn	+71.9%	12.2%	¥20bn	Namura Kensuke	—
FYE Mar 2025Consolidated	¥159bn	+17.9%	¥29bn	+78.7%	18.5%	¥26bn	Namura Kensuke	—
FYE Mar 2026Consolidated	¥159bn	−0.1%	¥28bn	−4.7%	17.7%	¥22bn	Namura Kensuke	Operating margin 18.5% — a record year

How it compares

Mitsui E&S¥353bnFY2025Operating margin 10.7%

Namura Shipbuilding¥159bnFY2025Operating margin 17.7%

Sasebo Heavy IndustriesDelisted 2014

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 ¥159bn

CAGR · 10 yrs +1.7%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	137	n/a	Cons. · Japanese GAAP
FYE Mar 2018	135	−1.7%	Cons. · Japanese GAAP
FYE Mar 2019	125	−7.6%	Cons. · Japanese GAAP
FYE Mar 2020	112	−10.2%	Cons. · Japanese GAAP
FYE Mar 2021	98.4	−12.1%	Cons. · Japanese GAAP
FYE Mar 2022	83.4	−15.2%	Cons. · Japanese GAAP
FYE Mar 2023	124	+48.7%	Cons. · Japanese GAAP
FYE Mar 2024	135	+8.8%	Cons. · Japanese GAAP
FYE Mar 2025	159	+17.9%	Cons. · Japanese GAAP
FYE Mar 2026	159	−0.1%	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 ¥123bn

CAGR · 10 yrs −1.3%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	138	n/a	Cons. · Japanese GAAP
FYE Mar 2018	146	+5.7%	Cons. · Japanese GAAP
FYE Mar 2019	121	−16.9%	Cons. · Japanese GAAP
FYE Mar 2020	121	+0.2%	Cons. · Japanese GAAP
FYE Mar 2021	103	−14.8%	Cons. · Japanese GAAP
FYE Mar 2022	87.6	−15.4%	Cons. · Japanese GAAP
FYE Mar 2023	109	+24.6%	Cons. · Japanese GAAP
FYE Mar 2024	112	+2.8%	Cons. · Japanese GAAP
FYE Mar 2025	123	+9.7%	Cons. · Japanese GAAP
FYE Mar 2026	123	−0.1%	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

Average · 10 yrs ¥8.3bn

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	-1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-11.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-9.6	−387.5%	Cons. · Japanese GAAP
FYE Mar 2021	-5.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-4.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	15.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	22.9	+52.7%	Cons. · Japanese GAAP
FYE Mar 2025	36.3	+58.4%	Cons. · Japanese GAAP
FYE Mar 2026	36.2	−0.4%	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 ¥8.1bn

CAGR · 10 yrs −0.4%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.3	−0.4%	Cons. · Japanese GAAP
FYE Mar 2019	7.4	−10.6%	Cons. · Japanese GAAP
FYE Mar 2020	6.5	−13.1%	Cons. · Japanese GAAP
FYE Mar 2021	5.4	−16.7%	Cons. · Japanese GAAP
FYE Mar 2022	5.4	+0.3%	Cons. · Japanese GAAP
FYE Mar 2023	5.4	+0.4%	Cons. · Japanese GAAP
FYE Mar 2024	6.4	+18.7%	Cons. · Japanese GAAP
FYE Mar 2025	6.8	+6.4%	Cons. · Japanese GAAP
FYE Mar 2026	8.1	+18.3%	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 ¥28bn

Average · 10 yrs ¥1.5bn

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	-9.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-19.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-4.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-16.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-9.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	9.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	16.5	+71.9%	Cons. · Japanese GAAP
FYE Mar 2025	29.5	+78.7%	Cons. · Japanese GAAP
FYE Mar 2026	28.1	−4.7%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥3.1bn

CAGR · 10 yrs +25.6%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	+101.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.9	+15.7%	Cons. · Japanese GAAP
FYE Mar 2020	0.5	−40.8%	Cons. · Japanese GAAP
FYE Mar 2021	0.5	−0.6%	Cons. · Japanese GAAP
FYE Mar 2022	1.7	+211.5%	Cons. · Japanese GAAP
FYE Mar 2023	3.1	+83.1%	Cons. · Japanese GAAP
FYE Mar 2024	4.0	+31.4%	Cons. · Japanese GAAP
FYE Mar 2025	1.4	−65.0%	Cons. · Japanese GAAP
FYE Mar 2026	3.1	+115.9%	Cons. · Japanese GAAP

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

Non-operating expenses

FYE Mar 2026 ¥1.6bn

CAGR · 10 yrs +6.9%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.6	+87.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.7	−59.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.8	+19.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.7	−16.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.4	−42.1%	Cons. · Japanese GAAP
FYE Mar 2023	1.3	+232.7%	Cons. · Japanese GAAP
FYE Mar 2024	0.5	−59.6%	Cons. · Japanese GAAP
FYE Mar 2025	1.4	+161.8%	Cons. · Japanese GAAP
FYE Mar 2026	1.6	+16.6%	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 ¥30bn

Average · 10 yrs ¥2.1bn

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	-9.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-16.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-10.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	11.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	20.0	+76.0%	Cons. · Japanese GAAP
FYE Mar 2025	29.5	+47.5%	Cons. · Japanese GAAP
FYE Mar 2026	29.5	+0.1%	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 ¥0.0bn

CAGR · 9 yrs −34.3%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2019	5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2020	0.3	−94.4%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−97.2%	Cons. · Japanese GAAP
FYE Mar 2024	0.1	+50.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.1	+70.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.0	−46.0%	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 ¥22bn

Average · 10 yrs ¥0.3bn

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	-11.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-20.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-18.0	−3003.4%	Cons. · Japanese GAAP
FYE Mar 2021	-18.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	11.2	n/a	Cons. · Japanese GAAP
FYE Mar 2024	20.0	+78.3%	Cons. · Japanese GAAP
FYE Mar 2025	26.2	+31.5%	Cons. · Japanese GAAP
FYE Mar 2026	21.6	−17.7%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 22.7%

Average · 10 yrs 5.0%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	-0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-8.2	−7.5pp	Cons. · Japanese GAAP
FYE Mar 2019	2.7	+10.9pp	Cons. · Japanese GAAP
FYE Mar 2020	-8.5	−11.2pp	Cons. · Japanese GAAP
FYE Mar 2021	-5.2	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2022	-5.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	12.1	+17.1pp	Cons. · Japanese GAAP
FYE Mar 2024	17.0	+4.9pp	Cons. · Japanese GAAP
FYE Mar 2025	22.8	+5.8pp	Cons. · Japanese GAAP
FYE Mar 2026	22.7	−0.1pp	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 17.7%

Average · 10 yrs -0.5%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	-6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-14.4	−7.6pp	Cons. · Japanese GAAP
FYE Mar 2019	-3.3	+11.1pp	Cons. · Japanese GAAP
FYE Mar 2020	-14.3	−11.0pp	Cons. · Japanese GAAP
FYE Mar 2021	-10.6	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2022	-11.4	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	7.7	+19.2pp	Cons. · Japanese GAAP
FYE Mar 2024	12.2	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2025	18.5	+6.3pp	Cons. · Japanese GAAP
FYE Mar 2026	17.7	−0.8pp	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 18.6%

Average · 10 yrs 0.1%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	-7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-15.0	−7.9pp	Cons. · Japanese GAAP
FYE Mar 2019	-3.1	+11.9pp	Cons. · Japanese GAAP
FYE Mar 2020	-14.6	−11.4pp	Cons. · Japanese GAAP
FYE Mar 2021	-10.8	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2022	-9.9	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	9.2	+19.0pp	Cons. · Japanese GAAP
FYE Mar 2024	14.8	+5.7pp	Cons. · Japanese GAAP
FYE Mar 2025	18.5	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2026	18.6	−0.0pp	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 13.6%

Average · 10 yrs -1.4%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	-8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-15.2	−7.0pp	Cons. · Japanese GAAP
FYE Mar 2019	0.5	+15.7pp	Cons. · Japanese GAAP
FYE Mar 2020	-16.1	−16.6pp	Cons. · Japanese GAAP
FYE Mar 2021	-19.1	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2022	-10.1	+9.0pp	Cons. · Japanese GAAP
FYE Mar 2023	9.0	+19.1pp	Cons. · Japanese GAAP
FYE Mar 2024	14.8	+5.8pp	Cons. · Japanese GAAP
FYE Mar 2025	16.5	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2026	13.6	−2.9pp	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 77.3%

Average · 10 yrs 95.0%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	100.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	108.2	+7.5pp	Cons. · Japanese GAAP
FYE Mar 2019	97.3	−10.9pp	Cons. · Japanese GAAP
FYE Mar 2020	108.5	+11.2pp	Cons. · Japanese GAAP
FYE Mar 2021	105.2	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2022	105.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	87.9	−17.1pp	Cons. · Japanese GAAP
FYE Mar 2024	83.0	−4.9pp	Cons. · Japanese GAAP
FYE Mar 2025	77.2	−5.8pp	Cons. · Japanese GAAP
FYE Mar 2026	77.3	+0.1pp	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 5.1%

Average · 10 yrs 5.4%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	6.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	6.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	5.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	5.5	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	6.5	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	4.4	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	4.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	4.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	5.1	+0.8pp	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 ¥266bn

CAGR · 10 yrs +2.8%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	208	n/a	Cons. · Japanese GAAP
FYE Mar 2018	195	−6.1%	Cons. · Japanese GAAP
FYE Mar 2019	175	−10.6%	Cons. · Japanese GAAP
FYE Mar 2020	138	−21.0%	Cons. · Japanese GAAP
FYE Mar 2021	112	−19.2%	Cons. · Japanese GAAP
FYE Mar 2022	124	+10.9%	Cons. · Japanese GAAP
FYE Mar 2023	125	+1.0%	Cons. · Japanese GAAP
FYE Mar 2024	175	+39.9%	Cons. · Japanese GAAP
FYE Mar 2025	209	+19.6%	Cons. · Japanese GAAP
FYE Mar 2026	266	+27.3%	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 ¥137bn

CAGR · 10 yrs +3.8%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	97.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	76.0	−22.1%	Cons. · Japanese GAAP
FYE Mar 2019	74.7	−1.8%	Cons. · Japanese GAAP
FYE Mar 2020	55.9	−25.2%	Cons. · Japanese GAAP
FYE Mar 2021	40.4	−27.8%	Cons. · Japanese GAAP
FYE Mar 2022	37.2	−7.9%	Cons. · Japanese GAAP
FYE Mar 2023	50.0	+34.4%	Cons. · Japanese GAAP
FYE Mar 2024	79.7	+59.5%	Cons. · Japanese GAAP
FYE Mar 2025	105	+31.5%	Cons. · Japanese GAAP
FYE Mar 2026	137	+30.7%	Cons. · Japanese GAAP

Definition: The part of the funding that never has to be repaid
Formula: Net assets line of the balance sheet
Source: Securities report (XBRL)

Interest-bearing debt

FYE Mar 2026 ¥21bn

CAGR · 10 yrs +1.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	17.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.1	+8.1%	Cons. · Japanese GAAP
FYE Mar 2019	18.6	−2.9%	Cons. · Japanese GAAP
FYE Mar 2020	16.1	−13.4%	Cons. · Japanese GAAP
FYE Mar 2021	16.6	+2.9%	Cons. · Japanese GAAP
FYE Mar 2022	14.4	−13.1%	Cons. · Japanese GAAP
FYE Mar 2023	11.3	−21.5%	Cons. · Japanese GAAP
FYE Mar 2024	12.8	+13.0%	Cons. · Japanese GAAP
FYE Mar 2025	17.7	+38.9%	Cons. · Japanese GAAP
FYE Mar 2026	21.0	+18.3%	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 ¥6.3bn

CAGR · 10 yrs +0.3%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	6.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.7	−6.3%	Cons. · Japanese GAAP
FYE Mar 2019	5.6	−2.7%	Cons. · Japanese GAAP
FYE Mar 2020	4.6	−17.3%	Cons. · Japanese GAAP
FYE Mar 2021	7.8	+68.6%	Cons. · Japanese GAAP
FYE Mar 2022	8.8	+13.6%	Cons. · Japanese GAAP
FYE Mar 2023	3.6	−59.8%	Cons. · Japanese GAAP
FYE Mar 2024	3.5	−1.4%	Cons. · Japanese GAAP
FYE Mar 2025	4.9	+39.0%	Cons. · Japanese GAAP
FYE Mar 2026	6.3	+29.1%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Mar 2026 ¥15bn

CAGR · 10 yrs +2.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	11.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.4	+15.7%	Cons. · Japanese GAAP
FYE Mar 2019	13.0	−3.0%	Cons. · Japanese GAAP
FYE Mar 2020	11.5	−11.7%	Cons. · Japanese GAAP
FYE Mar 2021	8.8	−23.6%	Cons. · Japanese GAAP
FYE Mar 2022	5.6	−36.7%	Cons. · Japanese GAAP
FYE Mar 2023	7.7	+39.4%	Cons. · Japanese GAAP
FYE Mar 2024	9.3	+19.6%	Cons. · Japanese GAAP
FYE Mar 2025	12.9	+38.9%	Cons. · Japanese GAAP
FYE Mar 2026	14.7	+14.3%	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 ¥657m

CAGR · 10 yrs +4.1%

Fiscal year	Intangible assets ¥ m	YoY	Basis
FYE Mar 2017	457	n/a	Cons. · Japanese GAAP
FYE Mar 2018	455	−0.4%	Cons. · Japanese GAAP
FYE Mar 2019	518	+13.8%	Cons. · Japanese GAAP
FYE Mar 2020	487	−6.0%	Cons. · Japanese GAAP
FYE Mar 2021	383	−21.4%	Cons. · Japanese GAAP
FYE Mar 2022	327	−14.6%	Cons. · Japanese GAAP
FYE Mar 2023	358	+9.5%	Cons. · Japanese GAAP
FYE Mar 2024	357	−0.3%	Cons. · Japanese GAAP
FYE Mar 2025	473	+32.5%	Cons. · Japanese GAAP
FYE Mar 2026	657	+38.9%	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 51.5%

Average · 10 yrs 42.2%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	46.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	38.9	−8.0pp	Cons. · Japanese GAAP
FYE Mar 2019	42.7	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2020	40.4	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2021	36.2	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2022	30.0	−6.1pp	Cons. · Japanese GAAP
FYE Mar 2023	40.0	+10.0pp	Cons. · Japanese GAAP
FYE Mar 2024	45.6	+5.6pp	Cons. · Japanese GAAP
FYE Mar 2025	50.1	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2026	51.5	+1.3pp	Cons. · Japanese GAAP

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

Debt-to-equity ratio D/E ratio

FYE Mar 2026 15.3%

Average · 10 yrs 24.7%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	18.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.1	+7.0pp	Cons. · Japanese GAAP
FYE Mar 2019	24.9	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	28.8	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2021	41.0	+12.2pp	Cons. · Japanese GAAP
FYE Mar 2022	38.7	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	22.6	−16.1pp	Cons. · Japanese GAAP
FYE Mar 2024	16.0	−6.6pp	Cons. · Japanese GAAP
FYE Mar 2025	16.9	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	15.3	−1.6pp	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 15.8%

Average · 10 yrs -5.1%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	-11.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-27.0	−15.4pp	Cons. · Japanese GAAP
FYE Mar 2019	0.8	+27.9pp	Cons. · Japanese GAAP
FYE Mar 2020	-32.3	−33.1pp	Cons. · Japanese GAAP
FYE Mar 2021	-46.5	−14.3pp	Cons. · Japanese GAAP
FYE Mar 2022	-22.6	+23.9pp	Cons. · Japanese GAAP
FYE Mar 2023	22.4	+45.1pp	Cons. · Japanese GAAP
FYE Mar 2024	25.0	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2025	25.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	15.8	−9.3pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 8.1%

Average · 10 yrs -1.1%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	-5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-10.5	−5.1pp	Cons. · Japanese GAAP
FYE Mar 2019	0.4	+10.9pp	Cons. · Japanese GAAP
FYE Mar 2020	-13.1	−13.4pp	Cons. · Japanese GAAP
FYE Mar 2021	-16.8	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2022	-6.8	+10.0pp	Cons. · Japanese GAAP
FYE Mar 2023	9.0	+15.8pp	Cons. · Japanese GAAP
FYE Mar 2024	11.4	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2025	12.6	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	8.1	−4.4pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.60×

CAGR · 10 yrs −1.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.66	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.69	+4.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.71	+3.3%	Cons. · Japanese GAAP
FYE Mar 2020	0.81	+13.7%	Cons. · Japanese GAAP
FYE Mar 2021	0.88	+8.9%	Cons. · Japanese GAAP
FYE Mar 2022	0.67	−23.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.99	+47.3%	Cons. · Japanese GAAP
FYE Mar 2024	0.77	−22.3%	Cons. · Japanese GAAP
FYE Mar 2025	0.76	−1.4%	Cons. · Japanese GAAP
FYE Mar 2026	0.60	−21.6%	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 ¥39bn

Average · 10 yrs ¥5.7bn

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-3.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-14.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-15.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-11.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-26.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	15.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	9.0	−40.4%	Cons. · Japanese GAAP
FYE Mar 2024	27.4	+204.5%	Cons. · Japanese GAAP
FYE Mar 2025	37.7	+37.7%	Cons. · Japanese GAAP
FYE Mar 2026	38.8	+2.9%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Mar 2026 -¥9.4bn

Average · 10 yrs -¥3.4bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-7.0	−224.8%	Cons. · Japanese GAAP
FYE Mar 2021	-4.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-9.4	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 -¥0.8bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-1.3	−396.1%	Cons. · Japanese GAAP
FYE Mar 2020	-3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-2.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-3.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	2.3	+300.5%	Cons. · Japanese GAAP
FYE Mar 2026	-0.5	−120.9%	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 ¥119bn

CAGR · 10 yrs +2.2%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	98.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	77.5	−21.1%	Cons. · Japanese GAAP
FYE Mar 2019	66.2	−14.6%	Cons. · Japanese GAAP
FYE Mar 2020	44.3	−33.1%	Cons. · Japanese GAAP
FYE Mar 2021	13.5	−69.5%	Cons. · Japanese GAAP
FYE Mar 2022	25.3	+87.1%	Cons. · Japanese GAAP
FYE Mar 2023	29.5	+16.5%	Cons. · Japanese GAAP
FYE Mar 2024	55.4	+88.0%	Cons. · Japanese GAAP
FYE Mar 2025	90.1	+62.7%	Cons. · Japanese GAAP
FYE Mar 2026	119	+32.2%	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 ¥29bn

Average · 10 yrs ¥2.3bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-5.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-21.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-10.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-18.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-30.7	n/a	Cons. · Japanese GAAP
FYE Mar 2022	14.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	7.7	−46.2%	Cons. · Japanese GAAP
FYE Mar 2024	25.5	+229.4%	Cons. · Japanese GAAP
FYE Mar 2025	32.5	+27.4%	Cons. · Japanese GAAP
FYE Mar 2026	29.4	−9.4%	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 24.4%

Average · 10 yrs 3.1%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	-2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-10.6	−8.3pp	Cons. · Japanese GAAP
FYE Mar 2019	-12.5	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2020	-10.4	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2021	-27.1	−16.7pp	Cons. · Japanese GAAP
FYE Mar 2022	18.1	+45.2pp	Cons. · Japanese GAAP
FYE Mar 2023	7.3	−10.8pp	Cons. · Japanese GAAP
FYE Mar 2024	20.3	+13.0pp	Cons. · Japanese GAAP
FYE Mar 2025	23.7	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2026	24.4	+0.7pp	Cons. · Japanese GAAP

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

Net cash

FYE Mar 2026 ¥98bn

CAGR · 10 yrs +2.2%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	80.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	58.4	−27.5%	Cons. · Japanese GAAP
FYE Mar 2019	47.6	−18.4%	Cons. · Japanese GAAP
FYE Mar 2020	28.2	−40.8%	Cons. · Japanese GAAP
FYE Mar 2021	-3.0	−110.8%	Cons. · Japanese GAAP
FYE Mar 2022	10.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	18.2	+66.9%	Cons. · Japanese GAAP
FYE Mar 2024	42.6	+134.6%	Cons. · Japanese GAAP
FYE Mar 2025	72.4	+69.9%	Cons. · Japanese GAAP
FYE Mar 2026	98.1	+35.5%	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 ¥289bn

Change · 5 yrs +¥264bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	n/a	n/a
FYE Mar 2018	n/a	n/a
FYE Mar 2019	25.0	n/a
FYE Mar 2020	n/a	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	n/a	n/a
FYE Mar 2023	24.7	n/a
FYE Mar 2024	138	n/a
FYE Mar 2025	158	n/a
FYE Mar 2026	289	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 4,166¥

Change · 5 yrs +3,805¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	n/a	n/a
FYE Mar 2018	n/a	n/a
FYE Mar 2019	361	n/a
FYE Mar 2020	n/a	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	n/a	n/a
FYE Mar 2023	356	n/a
FYE Mar 2024	1,986	n/a
FYE Mar 2025	2,270	n/a
FYE Mar 2026	4,166	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 69,476,000shares

Change · 10 yrs +437,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	69,039,000	Parent
FYE Mar 2018	69,039,000	Parent
FYE Mar 2019	69,100,000	Parent
FYE Mar 2020	69,100,000	Parent
FYE Mar 2021	69,100,000	Parent
FYE Mar 2022	69,100,000	Parent
FYE Mar 2023	69,253,000	Parent
FYE Mar 2024	69,345,000	Parent
FYE Mar 2025	69,386,000	Parent
FYE Mar 2026	69,476,000	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 310.92¥

Change · 10 yrs +474.80¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	-163.88	Cons.
FYE Mar 2018	-297.85	Cons.
FYE Mar 2019	8.99	Cons.
FYE Mar 2020	-261.05	Cons.
FYE Mar 2021	-271.84	Cons.
FYE Mar 2022	-121.88	Cons.
FYE Mar 2023	161.85	Cons.
FYE Mar 2024	287.86	Cons.
FYE Mar 2025	378.35	Cons.
FYE Mar 2026	310.92	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 1,971.50¥

Change · 10 yrs +557.82¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,413.68	Cons. · Japanese GAAP
FYE Mar 2018	1,101.49	Cons. · Japanese GAAP
FYE Mar 2019	1,081.22	Cons. · Japanese GAAP
FYE Mar 2020	808.38	Cons. · Japanese GAAP
FYE Mar 2021	584.05	Cons. · Japanese GAAP
FYE Mar 2022	537.96	Cons. · Japanese GAAP
FYE Mar 2023	721.47	Cons. · Japanese GAAP
FYE Mar 2024	1,149.10	Cons. · Japanese GAAP
FYE Mar 2025	1,509.87	Cons. · Japanese GAAP
FYE Mar 2026	1,971.50	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 13.40×

Average · 5 yrs 13.74×

Fiscal year	PER ×	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	n/a	Cons.
FYE Mar 2019	40.20	Cons.
FYE Mar 2020	n/a	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	n/a	Cons.
FYE Mar 2023	2.20	Cons.
FYE Mar 2024	6.90	Cons.
FYE Mar 2025	6.00	Cons.
FYE Mar 2026	13.40	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 2.12×

Average · 5 yrs 1.24×

Fiscal year	PBR ×	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	n/a	Cons.
FYE Mar 2019	0.34	Cons.
FYE Mar 2020	n/a	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	n/a	Cons.
FYE Mar 2023	0.50	Cons.
FYE Mar 2024	1.73	Cons.
FYE Mar 2025	1.51	Cons.
FYE Mar 2026	2.12	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 2,436people

Change · 10 yrs −619 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	3,055	n/a	Cons.
FYE Mar 2018	3,055	−0.0%	Cons.
FYE Mar 2019	2,688	−12.0%	Cons.
FYE Mar 2020	2,676	−0.4%	Cons.
FYE Mar 2021	2,642	−1.3%	Cons.
FYE Mar 2022	2,294	−13.2%	Cons.
FYE Mar 2023	2,213	−3.5%	Cons.
FYE Mar 2024	2,232	+0.9%	Cons.
FYE Mar 2025	2,297	+2.9%	Cons.
FYE Mar 2026	2,436	+6.1%	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 1,158people

Change · 10 yrs +126 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,032	n/a	Parent
FYE Mar 2018	1,054	+2.1%	Parent
FYE Mar 2019	1,053	−0.1%	Parent
FYE Mar 2020	1,041	−1.1%	Parent
FYE Mar 2021	1,037	−0.4%	Parent
FYE Mar 2022	1,055	+1.7%	Parent
FYE Mar 2023	1,028	−2.6%	Parent
FYE Mar 2024	1,055	+2.6%	Parent
FYE Mar 2025	1,093	+3.6%	Parent
FYE Mar 2026	1,158	+5.9%	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 690万円

Change · 8 yrs +147万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	543	n/a	Parent
FYE Mar 2020	531	−2.4%	Parent
FYE Mar 2021	512	−3.5%	Parent
FYE Mar 2022	511	−0.3%	Parent
FYE Mar 2023	559	+9.4%	Parent
FYE Mar 2024	601	+7.6%	Parent
FYE Mar 2025	658	+9.4%	Parent
FYE Mar 2026	690	+5.0%	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 41.1years

Change · 8 yrs +1.9 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	39.2	n/a	Parent
FYE Mar 2020	39.6	+1.0%	Parent
FYE Mar 2021	39.5	−0.3%	Parent
FYE Mar 2022	40.1	+1.5%	Parent
FYE Mar 2023	41.2	+2.7%	Parent
FYE Mar 2024	41.3	+0.2%	Parent
FYE Mar 2025	41.4	+0.2%	Parent
FYE Mar 2026	41.1	−0.7%	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 17.2years

Change · 8 yrs +1.2 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	16.0	n/a	Parent
FYE Mar 2020	16.6	+3.8%	Parent
FYE Mar 2021	16.6	−0.0%	Parent
FYE Mar 2022	17.0	+2.4%	Parent
FYE Mar 2023	17.9	+5.3%	Parent
FYE Mar 2024	18.0	+0.6%	Parent
FYE Mar 2025	17.7	−1.7%	Parent
FYE Mar 2026	17.2	−2.8%	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 ¥65.3m

Change · 10 yrs +¥20.4m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	44.9	n/a	Cons.
FYE Mar 2018	44.2	−1.7%	Cons.
FYE Mar 2019	46.4	+5.0%	Cons.
FYE Mar 2020	41.8	−9.8%	Cons.
FYE Mar 2021	37.2	−10.9%	Cons.
FYE Mar 2022	36.4	−2.4%	Cons.
FYE Mar 2023	56.1	+54.2%	Cons.
FYE Mar 2024	60.5	+7.9%	Cons.
FYE Mar 2025	69.3	+14.6%	Cons.
FYE Mar 2026	65.3	−5.8%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥11.5m

Change · 10 yrs +¥14.6m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	-3.1	n/a	Cons.
FYE Mar 2018	-6.4	n/a	Cons.
FYE Mar 2019	-1.5	n/a	Cons.
FYE Mar 2020	-6.0	n/a	Cons.
FYE Mar 2021	-4.0	n/a	Cons.
FYE Mar 2022	-4.2	n/a	Cons.
FYE Mar 2023	4.3	n/a	Cons.
FYE Mar 2024	7.4	+70.4%	Cons.
FYE Mar 2025	12.8	+73.6%	Cons.
FYE Mar 2026	11.5	−10.1%	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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