Financials

Isuzu Motors: FYE Mar 2026 and ten years of results (51 metrics)

FYE Mar 2026 · Revenue¥3.48tnYoY +8.4%

FYE Mar 2026 · Operating profit¥204bnYoY −11.2%

FYE Mar 2026 · Net profit¥135bnYoY +0.4%

FYE Mar 2026 · Equity ratio35.4%YoY −8.5pp

FYE Mar 2026 · Group employees43,005YoY +888

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.95tn	n/a	¥146bn	n/a	7.5%	¥94bn	Katayama Masanori	Capital and business tie-up with Toyota dissolved
FYE Mar 2018Consolidated	¥2.07tn	+6.0%	¥167bn	+13.9%	8.1%	¥106bn	Katayama Masanori	—
FYE Mar 2019Consolidated	¥2.15tn	+3.8%	¥177bn	+6.0%	8.2%	¥113bn	Katayama Masanori	—
FYE Mar 2020Consolidated	¥2.08tn	−3.2%	¥141bn	−20.5%	6.8%	¥81bn	Katayama Masanori	Operating profit peaks at ¥176.8bn in the year to March
FYE Mar 2021Consolidated	¥1.91tn	−8.3%	¥96bn	−31.9%	5.0%	¥43bn	Katayama Masanori	Agreement with the Volvo Group to acquire UD Trucks for ¥250bn
FYE Mar 2022Consolidated	¥2.51tn	+31.8%	¥187bn	+95.5%	7.4%	¥126bn	Katayama Masanori	UD Trucks integration completed in April
FYE Mar 2023Consolidated	¥3.20tn	+27.1%	¥254bn	+35.4%	7.9%	¥152bn	Katayama Masanori	—
FYE Mar 2024Consolidated	¥3.39tn	+6.0%	¥282bn	+11.1%	8.3%	¥176bn	Katayama Masanori	Hino enters merger talks with Mitsubishi Fuso Truck and Bus
FYE Mar 2025Consolidated	¥3.21tn	−5.3%	¥229bn	−18.5%	7.2%	¥134bn	Minami Shinsuke	—
FYE Mar 2026Consolidated	¥3.48tn	+8.4%	¥204bn	−11.2%	5.9%	¥135bn	Minami Shinsuke	—

How it compares

Isuzu Motors¥3.48tnFY2025Operating margin 5.9%

ARCHION¥1.70tnFY2024Operating margin —

Hino MotorsDelisted 2026

Nissan Diesel Motor Co., Ltd.Delisted 2007

SHOWA AIRCRAFT INDUSTRY CO., LTD.Delisted 2020

Income statement Revenue, costs, each level of profit and the margins they leave

Where the revenue goes

¥ bn

Cost of sales SG&A Other operating costs Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥3.48tn

CAGR · 10 yrs +6.6%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,953	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,070	+6.0%	Cons. · Japanese GAAP
FYE Mar 2019	2,149	+3.8%	Cons. · Japanese GAAP
FYE Mar 2020	2,080	−3.2%	Cons. · Japanese GAAP
FYE Mar 2021	1,908	−8.3%	Cons. · Japanese GAAP
FYE Mar 2022	2,514	+31.8%	Cons. · Japanese GAAP
FYE Mar 2023	3,196	+27.1%	Cons. · Japanese GAAP
FYE Mar 2024	3,387	+6.0%	Cons. · Japanese GAAP
FYE Mar 2025	3,208	moved to IFRS	Cons. · IFRS
FYE Mar 2026	3,479	+8.4%	Cons. · IFRS

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 ¥2.81tn

CAGR · 10 yrs +6.3%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,624	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,701	+4.7%	Cons. · Japanese GAAP
FYE Mar 2019	1,765	+3.8%	Cons. · Japanese GAAP
FYE Mar 2020	1,730	−2.0%	Cons. · Japanese GAAP
FYE Mar 2021	1,605	−7.2%	Cons. · Japanese GAAP
FYE Mar 2022	2,056	+28.1%	Cons. · Japanese GAAP
FYE Mar 2023	2,600	+26.5%	Cons. · Japanese GAAP
FYE Mar 2024	2,709	+4.2%	Cons. · Japanese GAAP
FYE Mar 2025	2,573	moved to IFRS	Cons. · IFRS
FYE Mar 2026	2,814	+9.4%	Cons. · IFRS

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 ¥665bn

CAGR · 10 yrs +8.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	329	n/a	Cons. · Japanese GAAP
FYE Mar 2018	370	+12.3%	Cons. · Japanese GAAP
FYE Mar 2019	384	+3.9%	Cons. · Japanese GAAP
FYE Mar 2020	350	−8.9%	Cons. · Japanese GAAP
FYE Mar 2021	303	−13.3%	Cons. · Japanese GAAP
FYE Mar 2022	458	+51.2%	Cons. · Japanese GAAP
FYE Mar 2023	595	+29.9%	Cons. · Japanese GAAP
FYE Mar 2024	696	+16.9%	Cons. · Japanese GAAP
FYE Mar 2025	662	moved to IFRS	Cons. · IFRS
FYE Mar 2026	665	+0.4%	Cons. · IFRS

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 ¥466bn

CAGR · 10 yrs +11.0%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	183	n/a	Cons. · Japanese GAAP
FYE Mar 2018	203	+11.0%	Cons. · Japanese GAAP
FYE Mar 2019	207	+2.1%	Cons. · Japanese GAAP
FYE Mar 2020	209	+0.9%	Cons. · Japanese GAAP
FYE Mar 2021	207	−0.8%	Cons. · Japanese GAAP
FYE Mar 2022	271	+30.7%	Cons. · Japanese GAAP
FYE Mar 2023	342	+26.1%	Cons. · Japanese GAAP
FYE Mar 2024	398	+16.5%	Cons. · Japanese GAAP
FYE Mar 2025	430	moved to IFRS	Cons. · IFRS
FYE Mar 2026	466	+8.3%	Cons. · IFRS

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 ¥204bn

CAGR · 10 yrs +3.7%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	146	n/a	Cons. · Japanese GAAP
FYE Mar 2018	167	+13.9%	Cons. · Japanese GAAP
FYE Mar 2019	177	+6.0%	Cons. · Japanese GAAP
FYE Mar 2020	141	−20.5%	Cons. · Japanese GAAP
FYE Mar 2021	95.7	−31.9%	Cons. · Japanese GAAP
FYE Mar 2022	187	+95.5%	Cons. · Japanese GAAP
FYE Mar 2023	254	+35.4%	Cons. · Japanese GAAP
FYE Mar 2024	282	+11.1%	Cons. · Japanese GAAP
FYE Mar 2025	229	moved to IFRS	Cons. · IFRS
FYE Mar 2026	204	−11.2%	Cons. · IFRS

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

Non-operating income

FYE Mar 2026 ¥20bn

CAGR · 10 yrs +3.9%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	14.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.8	+10.5%	Cons. · Japanese GAAP
FYE Mar 2019	18.9	+19.2%	Cons. · Japanese GAAP
FYE Mar 2020	19.7	+4.4%	Cons. · Japanese GAAP
FYE Mar 2021	16.5	−16.3%	Cons. · Japanese GAAP
FYE Mar 2022	28.3	+71.9%	Cons. · Japanese GAAP
FYE Mar 2023	26.5	−6.5%	Cons. · Japanese GAAP
FYE Mar 2024	20.9	−21.2%	Cons. · Japanese GAAP
FYE Mar 2025	18.8	moved to IFRS	Cons. · IFRS
FYE Mar 2026	20.2	+7.4%	Cons. · IFRS

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 ¥8.3bn

CAGR · 10 yrs −0.6%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	8.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.0	+2.6%	Cons. · Japanese GAAP
FYE Mar 2019	6.6	−26.0%	Cons. · Japanese GAAP
FYE Mar 2020	9.4	+41.5%	Cons. · Japanese GAAP
FYE Mar 2021	7.9	−15.4%	Cons. · Japanese GAAP
FYE Mar 2022	7.1	−10.5%	Cons. · Japanese GAAP
FYE Mar 2023	10.2	+42.9%	Cons. · Japanese GAAP
FYE Mar 2024	7.5	−26.1%	Cons. · Japanese GAAP
FYE Mar 2025	12.5	moved to IFRS	Cons. · IFRS
FYE Mar 2026	8.3	−33.5%	Cons. · IFRS

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 n/a

CAGR · 8 yrs +10.9%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	152	n/a	Cons. · Japanese GAAP
FYE Mar 2018	174	+14.2%	Cons. · Japanese GAAP
FYE Mar 2019	189	+8.9%	Cons. · Japanese GAAP
FYE Mar 2020	151	−20.2%	Cons. · Japanese GAAP
FYE Mar 2021	104	−30.9%	Cons. · Japanese GAAP
FYE Mar 2022	208	+99.9%	Cons. · Japanese GAAP
FYE Mar 2023	270	+29.5%	Cons. · Japanese GAAP
FYE Mar 2024	313	+16.0%	Cons. · Japanese GAAP
FYE Mar 2025	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 n/a

CAGR · 8 yrs +48.9%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.6	+1245.5%	Cons. · Japanese GAAP
FYE Mar 2019	4.4	−4.3%	Cons. · Japanese GAAP
FYE Mar 2020	0.3	−93.1%	Cons. · Japanese GAAP
FYE Mar 2021	0.9	+194.4%	Cons. · Japanese GAAP
FYE Mar 2022	3.1	+246.4%	Cons. · Japanese GAAP
FYE Mar 2023	3.7	+20.8%	Cons. · Japanese GAAP
FYE Mar 2024	5.5	+47.6%	Cons. · Japanese GAAP
FYE Mar 2025	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 ¥135bn

CAGR · 10 yrs +4.1%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	93.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	106	+12.6%	Cons. · Japanese GAAP
FYE Mar 2019	113	+7.4%	Cons. · Japanese GAAP
FYE Mar 2020	81.2	−28.4%	Cons. · Japanese GAAP
FYE Mar 2021	42.7	−47.4%	Cons. · Japanese GAAP
FYE Mar 2022	126	+195.5%	Cons. · Japanese GAAP
FYE Mar 2023	152	+20.2%	Cons. · Japanese GAAP
FYE Mar 2024	176	+16.3%	Cons. · Japanese GAAP
FYE Mar 2025	134	moved to IFRS	Cons. · IFRS
FYE Mar 2026	135	+0.4%	Cons. · IFRS

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

Gross margin

FYE Mar 2026 19.1%

Average · 10 yrs 18.2%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	16.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.9	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	17.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	16.8	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	15.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2022	18.2	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	18.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	20.5	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2025	20.6	moved to IFRS	Cons. · IFRS
FYE Mar 2026	19.1	−1.5pp	Cons. · IFRS

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

Operating margin

FYE Mar 2026 5.9%

Average · 10 yrs 7.2%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	8.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	6.8	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	5.0	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	7.4	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	7.9	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2024	8.3	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	7.2	moved to IFRS	Cons. · IFRS
FYE Mar 2026	5.9	−1.3pp	Cons. · IFRS

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

Ordinary margin

FYE Mar 2026 n/a

Average · 8 yrs 8.0%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	8.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	7.3	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	5.5	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	8.3	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2023	8.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	9.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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

Net margin

FYE Mar 2026 3.9%

Average · 10 yrs 4.4%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	4.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	5.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	3.9	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2021	2.2	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	5.0	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2023	4.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	5.2	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	4.2	moved to IFRS	Cons. · IFRS
FYE Mar 2026	3.9	−0.3pp	Cons. · IFRS

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

Cost-of-sales ratio

FYE Mar 2026 80.9%

Average · 10 yrs 81.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	83.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	82.1	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	82.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	83.2	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	84.1	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2022	81.8	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	81.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	80.0	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	80.2	moved to IFRS	Cons. · IFRS
FYE Mar 2026	80.9	+0.7pp	Cons. · IFRS

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 13.4%

Average · 10 yrs 11.0%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	9.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	9.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	10.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	10.9	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	10.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	10.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	11.8	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	13.4	moved to IFRS	Cons. · IFRS
FYE Mar 2026	13.4	−0.0pp	Cons. · IFRS

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 ¥3.66tn

CAGR · 10 yrs +7.7%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	1,880	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,067	+9.9%	Cons. · Japanese GAAP
FYE Mar 2019	2,131	+3.1%	Cons. · Japanese GAAP
FYE Mar 2020	2,152	+1.0%	Cons. · Japanese GAAP
FYE Mar 2021	2,245	+4.3%	Cons. · Japanese GAAP
FYE Mar 2022	2,856	+27.2%	Cons. · Japanese GAAP
FYE Mar 2023	3,047	+6.7%	Cons. · Japanese GAAP
FYE Mar 2024	3,263	+7.1%	Cons. · Japanese GAAP
FYE Mar 2025	3,289	moved to IFRS	Cons. · IFRS
FYE Mar 2026	3,663	+11.4%	Cons. · IFRS

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 ¥1.30tn

CAGR · 10 yrs +5.2%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	818	n/a	Cons. · Japanese GAAP
FYE Mar 2018	920	+12.4%	Cons. · Japanese GAAP
FYE Mar 2019	930	+1.1%	Cons. · Japanese GAAP
FYE Mar 2020	953	+2.5%	Cons. · Japanese GAAP
FYE Mar 2021	1,022	+7.2%	Cons. · Japanese GAAP
FYE Mar 2022	1,194	+16.9%	Cons. · Japanese GAAP
FYE Mar 2023	1,309	+9.6%	Cons. · Japanese GAAP
FYE Mar 2024	1,505	+15.0%	Cons. · Japanese GAAP
FYE Mar 2025	1,442	moved to IFRS	Cons. · IFRS
FYE Mar 2026	1,295	−10.2%	Cons. · IFRS

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 ¥744bn

CAGR · 10 yrs +13.5%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	239	n/a	Cons. · Japanese GAAP
FYE Mar 2018	271	+13.5%	Cons. · Japanese GAAP
FYE Mar 2019	286	+5.7%	Cons. · Japanese GAAP
FYE Mar 2020	315	+10.0%	Cons. · Japanese GAAP
FYE Mar 2021	246	−21.8%	Cons. · Japanese GAAP
FYE Mar 2022	426	+73.0%	Cons. · Japanese GAAP
FYE Mar 2023	403	−5.4%	Cons. · Japanese GAAP
FYE Mar 2024	512	+27.0%	Cons. · Japanese GAAP
FYE Mar 2025	644	moved to IFRS	Cons. · IFRS
FYE Mar 2026	744	+15.5%	Cons. · IFRS

Definition: Borrowings the company pays interest on
Formula: Loans + bonds + lease obligations
Source: Securities report (XBRL)

Short-term borrowings

FYE Mar 2026 ¥196bn

CAGR · 10 yrs +19.1%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	40.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	74.0	+81.8%	Cons. · Japanese GAAP
FYE Mar 2019	71.2	−3.7%	Cons. · Japanese GAAP
FYE Mar 2020	80.2	+12.6%	Cons. · Japanese GAAP
FYE Mar 2021	52.9	−34.0%	Cons. · Japanese GAAP
FYE Mar 2022	139	+163.0%	Cons. · Japanese GAAP
FYE Mar 2023	118	−15.3%	Cons. · Japanese GAAP
FYE Mar 2024	205	+73.6%	Cons. · Japanese GAAP
FYE Mar 2025	262	moved to IFRS	Cons. · IFRS
FYE Mar 2026	196	−25.4%	Cons. · IFRS

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 ¥548bn

CAGR · 10 yrs +12.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	198	n/a	Cons. · Japanese GAAP
FYE Mar 2018	197	−0.6%	Cons. · Japanese GAAP
FYE Mar 2019	215	+9.3%	Cons. · Japanese GAAP
FYE Mar 2020	235	+9.1%	Cons. · Japanese GAAP
FYE Mar 2021	193	−17.7%	Cons. · Japanese GAAP
FYE Mar 2022	287	+48.4%	Cons. · Japanese GAAP
FYE Mar 2023	285	−0.6%	Cons. · Japanese GAAP
FYE Mar 2024	239	−16.1%	Cons. · Japanese GAAP
FYE Mar 2025	382	moved to IFRS	Cons. · IFRS
FYE Mar 2026	548	+43.6%	Cons. · IFRS

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

Bonds

FYE Mar 2026 n/a

Average · 9 yrs ¥32bn

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	50.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	80.0	+60.0%	Cons. · Japanese GAAP
FYE Mar 2023	80.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2024	80.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.0	moved to IFRS	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

Definition: Bonds outstanding
Formula: Bonds line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥148bn

CAGR · 10 yrs +25.2%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	19.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.7	+36.0%	Cons. · Japanese GAAP
FYE Mar 2019	25.4	−5.0%	Cons. · Japanese GAAP
FYE Mar 2020	23.3	−8.3%	Cons. · Japanese GAAP
FYE Mar 2021	19.0	−18.5%	Cons. · Japanese GAAP
FYE Mar 2022	87.4	+360.9%	Cons. · Japanese GAAP
FYE Mar 2023	74.7	−14.6%	Cons. · Japanese GAAP
FYE Mar 2024	112	+49.9%	Cons. · Japanese GAAP
FYE Mar 2025	133	moved to IFRS	Cons. · IFRS
FYE Mar 2026	148	+10.9%	Cons. · IFRS

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

Goodwill

FYE Mar 2026 ¥15bn

CAGR · 10 yrs +21.5%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.1	+281.9%	Cons. · Japanese GAAP
FYE Mar 2019	7.1	−30.1%	Cons. · Japanese GAAP
FYE Mar 2020	4.6	−35.2%	Cons. · Japanese GAAP
FYE Mar 2021	2.0	−55.9%	Cons. · Japanese GAAP
FYE Mar 2022	20.5	+916.8%	Cons. · Japanese GAAP
FYE Mar 2023	18.0	−12.2%	Cons. · Japanese GAAP
FYE Mar 2024	15.2	−15.5%	Cons. · Japanese GAAP
FYE Mar 2025	15.2	moved to IFRS	Cons. · IFRS
FYE Mar 2026	15.2	−0.0%	Cons. · IFRS

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 35.4%

Average · 10 yrs 43.2%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	43.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	44.5	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	43.6	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	44.3	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	45.5	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2022	41.8	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2023	42.9	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	46.1	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	43.8	moved to IFRS	Cons. · IFRS
FYE Mar 2026	35.4	−8.5pp	Cons. · IFRS

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 57.5%

Average · 10 yrs 34.9%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	29.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	30.8	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	33.0	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2021	24.1	−8.9pp	Cons. · Japanese GAAP
FYE Mar 2022	35.7	+11.6pp	Cons. · Japanese GAAP
FYE Mar 2023	30.8	−4.9pp	Cons. · Japanese GAAP
FYE Mar 2024	34.0	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	44.7	moved to IFRS	Cons. · IFRS
FYE Mar 2026	57.5	+12.8pp	Cons. · IFRS

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 10.4%

Average · 10 yrs 10.1%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	11.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.5	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	12.2	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	8.5	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2021	4.2	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2022	10.6	+6.4pp	Cons. · Japanese GAAP
FYE Mar 2023	11.6	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	11.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	9.3	moved to IFRS	Cons. · IFRS
FYE Mar 2026	10.4	+1.1pp	Cons. · IFRS

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

ROA return on assets

FYE Mar 2026 3.7%

Average · 10 yrs 4.4%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	5.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	3.8	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	1.9	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	4.4	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2023	5.0	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	5.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	4.1	moved to IFRS	Cons. · IFRS
FYE Mar 2026	3.7	−0.4pp	Cons. · IFRS

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

Asset turnover

FYE Mar 2026 0.95×

CAGR · 10 yrs −1.0%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.04	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.00	−3.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.01	+0.7%	Cons. · Japanese GAAP
FYE Mar 2020	0.97	−4.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.85	−12.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.88	+3.6%	Cons. · Japanese GAAP
FYE Mar 2023	1.05	+19.1%	Cons. · Japanese GAAP
FYE Mar 2024	1.04	−1.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.98	moved to IFRS	Cons. · IFRS
FYE Mar 2026	0.95	−2.6%	Cons. · IFRS

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 ¥247bn

CAGR · 10 yrs +5.6%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	151	n/a	Cons. · Japanese GAAP
FYE Mar 2018	177	+16.8%	Cons. · Japanese GAAP
FYE Mar 2019	157	−11.5%	Cons. · Japanese GAAP
FYE Mar 2020	124	−21.0%	Cons. · Japanese GAAP
FYE Mar 2021	223	+80.2%	Cons. · Japanese GAAP
FYE Mar 2022	172	−22.8%	Cons. · Japanese GAAP
FYE Mar 2023	227	+32.0%	Cons. · Japanese GAAP
FYE Mar 2024	299	+31.5%	Cons. · Japanese GAAP
FYE Mar 2025	218	moved to IFRS	Cons. · IFRS
FYE Mar 2026	247	+13.7%	Cons. · IFRS

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

Investing cash flow

FYE Mar 2026 -¥170bn

Average · 10 yrs -¥147bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-87.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-107	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-86.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-92.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-93.4	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-421	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-80.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-155	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-178	moved to IFRS	Cons. · IFRS
FYE Mar 2026	-170	n/a	Cons. · IFRS

Definition: Cash spent on, or released by, investment
Formula: Cash flow from investing activities
Source: Securities report (XBRL)

Financing cash flow

FYE Mar 2026 -¥83bn

Average · 10 yrs -¥49bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-55.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-4.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-107	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-25.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-55.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	186	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-140	−175.4%	Cons. · Japanese GAAP
FYE Mar 2024	-145	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-64.6	moved to IFRS	Cons. · IFRS
FYE Mar 2026	-83.2	n/a	Cons. · IFRS

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 ¥385bn

CAGR · 10 yrs +4.4%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	261	n/a	Cons. · Japanese GAAP
FYE Mar 2018	330	+26.6%	Cons. · Japanese GAAP
FYE Mar 2019	305	−7.5%	Cons. · Japanese GAAP
FYE Mar 2020	304	−0.4%	Cons. · Japanese GAAP
FYE Mar 2021	387	+27.2%	Cons. · Japanese GAAP
FYE Mar 2022	342	−11.6%	Cons. · Japanese GAAP
FYE Mar 2023	364	+6.6%	Cons. · Japanese GAAP
FYE Mar 2024	385	+5.6%	Cons. · Japanese GAAP
FYE Mar 2025	372	moved to IFRS	Cons. · IFRS
FYE Mar 2026	385	+3.7%	Cons. · IFRS

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 ¥77bn

CAGR · 10 yrs +2.1%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	64.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.8	+9.1%	Cons. · Japanese GAAP
FYE Mar 2019	70.0	+0.3%	Cons. · Japanese GAAP
FYE Mar 2020	31.0	−55.6%	Cons. · Japanese GAAP
FYE Mar 2021	130	+317.2%	Cons. · Japanese GAAP
FYE Mar 2022	-249	−292.1%	Cons. · Japanese GAAP
FYE Mar 2023	147	n/a	Cons. · Japanese GAAP
FYE Mar 2024	143	−2.1%	Cons. · Japanese GAAP
FYE Mar 2025	39.8	moved to IFRS	Cons. · IFRS
FYE Mar 2026	77.4	+94.7%	Cons. · IFRS

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

Operating cash flow margin

FYE Mar 2026 7.1%

Average · 10 yrs 7.8%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	7.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.5	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	7.3	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	5.9	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	11.7	+5.7pp	Cons. · Japanese GAAP
FYE Mar 2022	6.8	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2023	7.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	8.8	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	6.8	moved to IFRS	Cons. · IFRS
FYE Mar 2026	7.1	+0.3pp	Cons. · IFRS

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

Net cash

FYE Mar 2026 -¥359bn

Average · 10 yrs -¥65bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	22.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	59.2	+168.5%	Cons. · Japanese GAAP
FYE Mar 2019	19.1	−67.7%	Cons. · Japanese GAAP
FYE Mar 2020	-10.8	−156.7%	Cons. · Japanese GAAP
FYE Mar 2021	141	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-84.1	−159.8%	Cons. · Japanese GAAP
FYE Mar 2023	-38.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-127	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-273	moved to IFRS	Cons. · IFRS
FYE Mar 2026	-359	n/a	Cons. · IFRS

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

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

Market capitalisation

FYE Mar 2026 ¥1.53tn

Change · 10 yrs +¥281bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	1,249	n/a
FYE Mar 2018	1,384	n/a
FYE Mar 2019	1,233	n/a
FYE Mar 2020	606	n/a
FYE Mar 2021	924	n/a
FYE Mar 2022	1,235	n/a
FYE Mar 2023	1,228	n/a
FYE Mar 2024	1,597	n/a
FYE Mar 2025	1,439	n/a
FYE Mar 2026	1,530	n/a

Definition: What the market says the company is worth
Formula: Year-end share price × shares outstanding
Source: Securities report (XBRL)

Share price year-end close

FYE Mar 2026 2,221¥

Change · 10 yrs +749¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,472	n/a
FYE Mar 2018	1,632	n/a
FYE Mar 2019	1,454	n/a
FYE Mar 2020	715	n/a
FYE Mar 2021	1,189	n/a
FYE Mar 2022	1,588	n/a
FYE Mar 2023	1,580	n/a
FYE Mar 2024	2,055	n/a
FYE Mar 2025	2,017	n/a
FYE Mar 2026	2,221	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 688,751,769shares

Change · 10 yrs −159,670,900 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	848,422,669	Parent
FYE Mar 2018	848,422,669	Parent
FYE Mar 2019	848,422,669	Parent
FYE Mar 2020	848,422,669	Parent
FYE Mar 2021	777,442,069	Parent
FYE Mar 2022	777,442,069	Parent
FYE Mar 2023	777,442,069	Parent
FYE Mar 2024	777,442,069	Parent
FYE Mar 2025	713,526,569	Parent
FYE Mar 2026	688,751,769	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 193.14¥

Change · 10 yrs +74.01¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	119.13	Cons.
FYE Mar 2018	134.17	Cons.
FYE Mar 2019	150.18	Cons.
FYE Mar 2020	110.14	Cons.
FYE Mar 2021	57.91	Cons.
FYE Mar 2022	162.87	Cons.
FYE Mar 2023	195.75	Cons.
FYE Mar 2024	220.22	Cons.
FYE Mar 2025	190.78	Cons.
FYE Mar 2026	193.14	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 1,880.26¥

Change · 10 yrs +915.60¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	964.66	Cons. · Japanese GAAP
FYE Mar 2018	1,083.88	Cons. · Japanese GAAP
FYE Mar 2019	1,095.89	Cons. · Japanese GAAP
FYE Mar 2020	1,123.19	Cons. · Japanese GAAP
FYE Mar 2021	1,314.29	Cons. · Japanese GAAP
FYE Mar 2022	1,535.94	Cons. · Japanese GAAP
FYE Mar 2023	1,683.09	Cons. · Japanese GAAP
FYE Mar 2024	1,936.14	Cons. · Japanese GAAP
FYE Mar 2025	2,020.41	Cons. · IFRS
FYE Mar 2026	1,880.26	Cons. · IFRS

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

PER price-to-earnings ratio

FYE Mar 2026 11.50×

Average · 10 yrs 11.04×

Fiscal year	PER ×	Basis
FYE Mar 2017	12.36	Cons.
FYE Mar 2018	12.16	Cons.
FYE Mar 2019	9.68	Cons.
FYE Mar 2020	6.49	Cons.
FYE Mar 2021	20.53	Cons.
FYE Mar 2022	9.75	Cons.
FYE Mar 2023	8.07	Cons.
FYE Mar 2024	9.33	Cons.
FYE Mar 2025	10.57	Cons.
FYE Mar 2026	11.50	Cons.

Definition: How many years of earnings the price stands for
Formula: Year-end price ÷ EPS
Source: Securities report (XBRL)

PBR price-to-book ratio

FYE Mar 2026 1.03×

Average · 10 yrs 1.06×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.42	Cons.
FYE Mar 2018	1.40	Cons.
FYE Mar 2019	1.15	Cons.
FYE Mar 2020	0.55	Cons.
FYE Mar 2021	0.86	Cons.
FYE Mar 2022	1.03	Cons.
FYE Mar 2023	0.99	Cons.
FYE Mar 2024	1.11	Cons.
FYE Mar 2025	1.05	Cons.
FYE Mar 2026	1.03	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 43,005people

Change · 10 yrs +9,374 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	33,631	n/a	Cons.
FYE Mar 2018	35,262	+4.8%	Cons.
FYE Mar 2019	37,263	+5.7%	Cons.
FYE Mar 2020	36,856	−1.1%	Cons.
FYE Mar 2021	36,224	−1.7%	Cons.
FYE Mar 2022	44,299	+22.3%	Cons.
FYE Mar 2023	44,495	+0.4%	Cons.
FYE Mar 2024	45,034	+1.2%	Cons.
FYE Mar 2025	42,117	−6.5%	Cons.
FYE Mar 2026	43,005	+2.1%	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 9,089people

Change · 10 yrs +978 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	8,111	n/a	Parent
FYE Mar 2018	8,289	+2.2%	Parent
FYE Mar 2019	8,186	−1.2%	Parent
FYE Mar 2020	8,172	−0.2%	Parent
FYE Mar 2021	8,149	−0.3%	Parent
FYE Mar 2022	8,056	−1.1%	Parent
FYE Mar 2023	8,056	−0.0%	Parent
FYE Mar 2024	8,491	+5.4%	Parent
FYE Mar 2025	8,804	+3.7%	Parent
FYE Mar 2026	9,089	+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 ¥8.4m

Change · 10 yrs +¥0.7m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	7.6	n/a	Parent
FYE Mar 2018	7.5	−1.7%	Parent
FYE Mar 2019	7.7	+2.2%	Parent
FYE Mar 2020	7.8	+1.3%	Parent
FYE Mar 2021	7.6	−2.2%	Parent
FYE Mar 2022	7.5	−0.8%	Parent
FYE Mar 2023	7.8	+3.1%	Parent
FYE Mar 2024	7.9	+1.5%	Parent
FYE Mar 2025	8.1	+2.3%	Parent
FYE Mar 2026	8.4	+3.8%	Parent

Definition: Average total annual compensation, bonuses included
Formula: Average annual pay, from the employee section of the filing
Source: Securities report (XBRL)

Average age

FYE Mar 2026 40.1years

Change · 8 yrs −1.1 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	41.2	n/a	Parent
FYE Mar 2020	41.4	+0.5%	Parent
FYE Mar 2021	41.3	−0.2%	Parent
FYE Mar 2022	41.2	−0.2%	Parent
FYE Mar 2023	41.0	−0.5%	Parent
FYE Mar 2024	40.8	−0.5%	Parent
FYE Mar 2025	40.6	−0.5%	Parent
FYE Mar 2026	40.1	−1.2%	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 15.6years

Change · 10 yrs −3.0 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	18.6	n/a	Parent
FYE Mar 2018	18.7	+0.5%	Parent
FYE Mar 2019	19.0	+1.6%	Parent
FYE Mar 2020	19.0	−0.0%	Parent
FYE Mar 2021	19.0	−0.0%	Parent
FYE Mar 2022	18.7	−1.6%	Parent
FYE Mar 2023	18.3	−2.1%	Parent
FYE Mar 2024	17.3	−5.5%	Parent
FYE Mar 2025	16.5	−4.6%	Parent
FYE Mar 2026	15.6	−5.5%	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 12,627people

Change · 10 yrs +3,648 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	8,979	n/a	n/a
FYE Mar 2018	9,270	+3.2%	n/a
FYE Mar 2019	9,992	+7.8%	n/a
FYE Mar 2020	10,069	+0.8%	n/a
FYE Mar 2021	10,183	+1.1%	n/a
FYE Mar 2022	14,320	+40.6%	n/a
FYE Mar 2023	15,146	+5.8%	n/a
FYE Mar 2024	14,455	−4.6%	n/a
FYE Mar 2025	12,110	−16.2%	n/a
FYE Mar 2026	12,627	+4.3%	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 ¥80.9m

Change · 10 yrs +¥22.8m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	58.1	n/a	Cons.
FYE Mar 2018	58.7	+1.1%	Cons.
FYE Mar 2019	57.7	−1.8%	Cons.
FYE Mar 2020	56.4	−2.2%	Cons.
FYE Mar 2021	52.7	−6.7%	Cons.
FYE Mar 2022	56.8	+7.7%	Cons.
FYE Mar 2023	71.8	+26.5%	Cons.
FYE Mar 2024	75.2	+4.7%	Cons.
FYE Mar 2025	76.2	n/a	Cons.
FYE Mar 2026	80.9	+6.2%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥4.7m

Change · 10 yrs +¥0.4m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	4.4	n/a	Cons.
FYE Mar 2018	4.7	+8.6%	Cons.
FYE Mar 2019	4.7	+0.3%	Cons.
FYE Mar 2020	3.8	−19.6%	Cons.
FYE Mar 2021	2.6	−30.7%	Cons.
FYE Mar 2022	4.2	+59.9%	Cons.
FYE Mar 2023	5.7	+34.8%	Cons.
FYE Mar 2024	6.3	+9.8%	Cons.
FYE Mar 2025	5.4	n/a	Cons.
FYE Mar 2026	4.7	−13.1%	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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