Financials

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

FYE Mar 2026 · Revenue¥1.26tnYoY +11.2%

FYE Mar 2026 · Operating profit¥81bnYoY +8.4%

FYE Mar 2026 · Net profit¥46bnYoY +16.6%

FYE Mar 2026 · Equity ratio35.5%YoY +6.0pp

FYE Mar 2026 · Group employees20,626YoY +1,884

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥544bn	n/a	¥19bn	n/a	3.5%	¥8.4bn	Ogawa Kentaro	—
FYE Mar 2018Consolidated	¥579bn	+6.4%	¥18bn	−6.2%	3.0%	¥8.0bn	Ogawa Kentaro	—
FYE Mar 2019Consolidated	¥608bn	+4.9%	¥19bn	+6.9%	3.1%	¥9.9bn	Ogawa Kentaro	Acquires Advanced Fresh Concepts — US takeaway sushi
FYE Mar 2020Consolidated	¥630bn	+3.7%	¥21bn	+11.1%	3.3%	¥12bn	Ogawa Kentaro	Jolly Pasta taken private and delisted (2020: Coco’s Japan)
FYE Mar 2021Consolidated	¥595bn	−5.6%	¥12bn	−42.2%	2.0%	¥2.3bn	Ogawa Kentaro	Nine regional Sukiya companies merged back into one
FYE Mar 2022Consolidated	¥659bn	+10.7%	¥9.2bn	−23.6%	1.4%	¥14bn	Ogawa Kentaro	—
FYE Mar 2023Consolidated	¥780bn	+18.4%	¥22bn	+135.4%	2.8%	¥13bn	Ogawa Kentaro	—
FYE Mar 2024Consolidated	¥966bn	+23.8%	¥54bn	+147.1%	5.6%	¥31bn	Ogawa Kentaro	Lotteria and SnowFox Topco (UK) acquired
FYE Mar 2025Consolidated	¥1.14tn	+17.7%	¥75bn	+39.9%	6.6%	¥39bn	Ogawa Kentaro	—
FYE Mar 2026Consolidated	¥1.26tn	+11.2%	¥81bn	+8.4%	6.4%	¥46bn	Ogawa Kentaro	Sales pass ¥1 trillion; <a class="en-history_person" href="/tse/7550/executives/ceo/ogawa-yohei/" hreflang="ja">Ogawa Yohei</a> becomes president

How it compares

Zensho Holdings¥1.26tnFY2025Operating margin 6.4%

Skylark Holdings¥458bnFY2025Operating margin 6.5%Food & Life Companies (Sushiro)¥430bnFY2025Operating margin 8.4%McDonald's Japan¥417bnFY2025Operating margin 12.8%Colowide¥300bnFY2025Operating margin 3.1%トリドールホールディングス¥279bnFY2025Operating margin 3.8%Saizeriya¥257bnFY2025Operating margin 6.0%

Kurasushi¥245bnFY2025Operating margin 2.2%

吉野家ホールディングス¥226bnFY2025Operating margin 3.6%ROYAL HOLDINGS¥165bnFY2025Operating margin 4.6%

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 ¥1.26tn

CAGR · 10 yrs +9.8%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	544	n/a	Cons. · Japanese GAAP
FYE Mar 2018	579	+6.4%	Cons. · Japanese GAAP
FYE Mar 2019	608	+4.9%	Cons. · Japanese GAAP
FYE Mar 2020	630	+3.7%	Cons. · Japanese GAAP
FYE Mar 2021	595	−5.6%	Cons. · Japanese GAAP
FYE Mar 2022	659	+10.7%	Cons. · Japanese GAAP
FYE Mar 2023	780	+18.4%	Cons. · Japanese GAAP
FYE Mar 2024	966	+23.8%	Cons. · Japanese GAAP
FYE Mar 2025	1,137	+17.7%	Cons. · Japanese GAAP
FYE Mar 2026	1,264	+11.2%	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 ¥578bn

CAGR · 10 yrs +10.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	232	n/a	Cons. · Japanese GAAP
FYE Mar 2018	251	+8.5%	Cons. · Japanese GAAP
FYE Mar 2019	261	+3.9%	Cons. · Japanese GAAP
FYE Mar 2020	268	+2.5%	Cons. · Japanese GAAP
FYE Mar 2021	254	−4.9%	Cons. · Japanese GAAP
FYE Mar 2022	311	+22.2%	Cons. · Japanese GAAP
FYE Mar 2023	365	+17.4%	Cons. · Japanese GAAP
FYE Mar 2024	442	+21.0%	Cons. · Japanese GAAP
FYE Mar 2025	514	+16.5%	Cons. · Japanese GAAP
FYE Mar 2026	578	+12.3%	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 ¥686bn

CAGR · 10 yrs +9.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	312	n/a	Cons. · Japanese GAAP
FYE Mar 2018	328	+4.9%	Cons. · Japanese GAAP
FYE Mar 2019	346	+5.7%	Cons. · Japanese GAAP
FYE Mar 2020	363	+4.7%	Cons. · Japanese GAAP
FYE Mar 2021	341	−6.1%	Cons. · Japanese GAAP
FYE Mar 2022	348	+2.1%	Cons. · Japanese GAAP
FYE Mar 2023	415	+19.3%	Cons. · Japanese GAAP
FYE Mar 2024	524	+26.3%	Cons. · Japanese GAAP
FYE Mar 2025	622	+18.7%	Cons. · Japanese GAAP
FYE Mar 2026	686	+10.3%	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 ¥605bn

CAGR · 10 yrs +8.4%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	293	n/a	Cons. · Japanese GAAP
FYE Mar 2018	310	+5.7%	Cons. · Japanese GAAP
FYE Mar 2019	328	+5.7%	Cons. · Japanese GAAP
FYE Mar 2020	342	+4.3%	Cons. · Japanese GAAP
FYE Mar 2021	328	−3.9%	Cons. · Japanese GAAP
FYE Mar 2022	338	+3.0%	Cons. · Japanese GAAP
FYE Mar 2023	393	+16.2%	Cons. · Japanese GAAP
FYE Mar 2024	470	+19.6%	Cons. · Japanese GAAP
FYE Mar 2025	547	+16.3%	Cons. · Japanese GAAP
FYE Mar 2026	605	+10.6%	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 ¥81bn

CAGR · 10 yrs +17.7%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	18.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.6	−6.2%	Cons. · Japanese GAAP
FYE Mar 2019	18.8	+6.9%	Cons. · Japanese GAAP
FYE Mar 2020	20.9	+11.1%	Cons. · Japanese GAAP
FYE Mar 2021	12.1	−42.2%	Cons. · Japanese GAAP
FYE Mar 2022	9.2	−23.6%	Cons. · Japanese GAAP
FYE Mar 2023	21.7	+135.4%	Cons. · Japanese GAAP
FYE Mar 2024	53.7	+147.1%	Cons. · Japanese GAAP
FYE Mar 2025	75.1	+39.9%	Cons. · Japanese GAAP
FYE Mar 2026	81.4	+8.4%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥6.6bn

CAGR · 10 yrs +18.3%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	1.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.6	+11.5%	Cons. · Japanese GAAP
FYE Mar 2019	1.6	−0.3%	Cons. · Japanese GAAP
FYE Mar 2020	2.2	+34.8%	Cons. · Japanese GAAP
FYE Mar 2021	3.4	+55.1%	Cons. · Japanese GAAP
FYE Mar 2022	17.7	+421.7%	Cons. · Japanese GAAP
FYE Mar 2023	10.2	−42.3%	Cons. · Japanese GAAP
FYE Mar 2024	2.6	−74.8%	Cons. · Japanese GAAP
FYE Mar 2025	4.9	+89.2%	Cons. · Japanese GAAP
FYE Mar 2026	6.6	+36.0%	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 ¥9.8bn

CAGR · 10 yrs +18.2%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.6	−27.2%	Cons. · Japanese GAAP
FYE Mar 2019	2.2	+41.9%	Cons. · Japanese GAAP
FYE Mar 2020	3.2	+42.6%	Cons. · Japanese GAAP
FYE Mar 2021	3.3	+2.0%	Cons. · Japanese GAAP
FYE Mar 2022	3.8	+17.2%	Cons. · Japanese GAAP
FYE Mar 2023	3.9	+1.0%	Cons. · Japanese GAAP
FYE Mar 2024	5.4	+38.6%	Cons. · Japanese GAAP
FYE Mar 2025	8.1	+51.0%	Cons. · Japanese GAAP
FYE Mar 2026	9.8	+20.9%	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 ¥78bn

CAGR · 10 yrs +17.7%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	18.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.7	−2.2%	Cons. · Japanese GAAP
FYE Mar 2019	18.2	+3.1%	Cons. · Japanese GAAP
FYE Mar 2020	19.9	+9.3%	Cons. · Japanese GAAP
FYE Mar 2021	12.2	−38.6%	Cons. · Japanese GAAP
FYE Mar 2022	23.1	+89.3%	Cons. · Japanese GAAP
FYE Mar 2023	28.1	+21.5%	Cons. · Japanese GAAP
FYE Mar 2024	50.9	+81.3%	Cons. · Japanese GAAP
FYE Mar 2025	71.9	+41.2%	Cons. · Japanese GAAP
FYE Mar 2026	78.3	+8.9%	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 ¥0.8bn

CAGR · 10 yrs +10.9%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	+224.5%	Cons. · Japanese GAAP
FYE Mar 2019	3.8	+263.6%	Cons. · Japanese GAAP
FYE Mar 2020	0.5	−86.8%	Cons. · Japanese GAAP
FYE Mar 2021	8.1	+1536.0%	Cons. · Japanese GAAP
FYE Mar 2022	25.4	+213.4%	Cons. · Japanese GAAP
FYE Mar 2023	0.8	−97.0%	Cons. · Japanese GAAP
FYE Mar 2024	0.6	−25.6%	Cons. · Japanese GAAP
FYE Mar 2025	2.1	+259.0%	Cons. · Japanese GAAP
FYE Mar 2026	0.8	−60.6%	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 ¥46bn

CAGR · 10 yrs +20.7%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.0	−5.2%	Cons. · Japanese GAAP
FYE Mar 2019	9.9	+24.0%	Cons. · Japanese GAAP
FYE Mar 2020	12.0	+20.7%	Cons. · Japanese GAAP
FYE Mar 2021	2.3	−81.1%	Cons. · Japanese GAAP
FYE Mar 2022	13.9	+513.9%	Cons. · Japanese GAAP
FYE Mar 2023	13.3	−4.4%	Cons. · Japanese GAAP
FYE Mar 2024	30.7	+131.4%	Cons. · Japanese GAAP
FYE Mar 2025	39.3	+28.0%	Cons. · Japanese GAAP
FYE Mar 2026	45.8	+16.6%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 54.3%

Average · 10 yrs 55.5%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	57.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	56.6	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	57.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	57.5	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	57.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	52.8	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2023	53.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	54.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	54.7	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	54.3	−0.4pp	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 6.4%

Average · 10 yrs 3.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	3.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	3.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	2.0	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	1.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	2.8	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	5.6	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2025	6.6	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	6.4	−0.2pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Mar 2026 6.2%

Average · 10 yrs 3.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	3.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	3.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	2.1	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2022	3.5	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	3.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	5.3	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	6.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	6.2	−0.1pp	Cons. · Japanese GAAP

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

Net margin

FYE Mar 2026 3.6%

Average · 10 yrs 2.1%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	1.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	1.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	0.4	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2022	2.1	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2023	1.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	3.2	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	3.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	3.6	+0.2pp	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 45.7%

Average · 10 yrs 44.5%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	42.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	43.4	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	43.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	42.5	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	42.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	47.2	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2023	46.8	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	45.7	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	45.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	45.7	+0.4pp	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 47.9%

Average · 10 yrs 51.7%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	53.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	53.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	53.9	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	54.2	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	55.2	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	51.4	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2023	50.4	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	48.7	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	48.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	47.9	−0.3pp	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 ¥960bn

CAGR · 10 yrs +14.3%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	289	n/a	Cons. · Japanese GAAP
FYE Mar 2018	295	+2.2%	Cons. · Japanese GAAP
FYE Mar 2019	378	+27.9%	Cons. · Japanese GAAP
FYE Mar 2020	366	−3.2%	Cons. · Japanese GAAP
FYE Mar 2021	396	+8.2%	Cons. · Japanese GAAP
FYE Mar 2022	427	+7.9%	Cons. · Japanese GAAP
FYE Mar 2023	470	+9.9%	Cons. · Japanese GAAP
FYE Mar 2024	748	+59.3%	Cons. · Japanese GAAP
FYE Mar 2025	813	+8.7%	Cons. · Japanese GAAP
FYE Mar 2026	960	+18.1%	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 ¥341bn

CAGR · 10 yrs +19.6%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	67.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	67.5	−0.6%	Cons. · Japanese GAAP
FYE Mar 2019	72.2	+6.9%	Cons. · Japanese GAAP
FYE Mar 2020	86.6	+20.0%	Cons. · Japanese GAAP
FYE Mar 2021	85.3	−1.5%	Cons. · Japanese GAAP
FYE Mar 2022	103	+21.1%	Cons. · Japanese GAAP
FYE Mar 2023	116	+11.9%	Cons. · Japanese GAAP
FYE Mar 2024	214	+85.4%	Cons. · Japanese GAAP
FYE Mar 2025	240	+12.0%	Cons. · Japanese GAAP
FYE Mar 2026	341	+42.0%	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 ¥232bn

CAGR · 10 yrs +12.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	78.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	86.0	+10.1%	Cons. · Japanese GAAP
FYE Mar 2019	143	+65.7%	Cons. · Japanese GAAP
FYE Mar 2020	130	−8.8%	Cons. · Japanese GAAP
FYE Mar 2021	134	+3.0%	Cons. · Japanese GAAP
FYE Mar 2022	152	+13.7%	Cons. · Japanese GAAP
FYE Mar 2023	176	+15.7%	Cons. · Japanese GAAP
FYE Mar 2024	232	+31.7%	Cons. · Japanese GAAP
FYE Mar 2025	235	+1.2%	Cons. · Japanese GAAP
FYE Mar 2026	232	−1.0%	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 ¥3.9bn

CAGR · 10 yrs +4.5%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	−70.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.4	+76.5%	Cons. · Japanese GAAP
FYE Mar 2020	1.4	+4.3%	Cons. · Japanese GAAP
FYE Mar 2021	1.1	−20.3%	Cons. · Japanese GAAP
FYE Mar 2022	0.5	−60.1%	Cons. · Japanese GAAP
FYE Mar 2023	7.6	+1555.8%	Cons. · Japanese GAAP
FYE Mar 2024	7.5	−0.8%	Cons. · Japanese GAAP
FYE Mar 2025	6.9	−9.1%	Cons. · Japanese GAAP
FYE Mar 2026	3.9	−42.5%	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 ¥229bn

CAGR · 10 yrs +13.1%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	75.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	85.2	+12.9%	Cons. · Japanese GAAP
FYE Mar 2019	141	+65.6%	Cons. · Japanese GAAP
FYE Mar 2020	129	−9.0%	Cons. · Japanese GAAP
FYE Mar 2021	133	+3.2%	Cons. · Japanese GAAP
FYE Mar 2022	152	+14.3%	Cons. · Japanese GAAP
FYE Mar 2023	168	+11.1%	Cons. · Japanese GAAP
FYE Mar 2024	224	+33.2%	Cons. · Japanese GAAP
FYE Mar 2025	228	+1.6%	Cons. · Japanese GAAP
FYE Mar 2026	229	+0.3%	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 ¥229bn

CAGR · 10 yrs +29.8%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	21.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.2	−3.3%	Cons. · Japanese GAAP
FYE Mar 2019	54.7	+158.1%	Cons. · Japanese GAAP
FYE Mar 2020	58.8	+7.7%	Cons. · Japanese GAAP
FYE Mar 2021	58.2	−1.0%	Cons. · Japanese GAAP
FYE Mar 2022	62.9	+8.0%	Cons. · Japanese GAAP
FYE Mar 2023	65.4	+4.1%	Cons. · Japanese GAAP
FYE Mar 2024	220	+236.6%	Cons. · Japanese GAAP
FYE Mar 2025	216	−2.1%	Cons. · Japanese GAAP
FYE Mar 2026	229	+6.3%	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 ¥10bn

CAGR · 10 yrs −6.7%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	18.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.8	−5.8%	Cons. · Japanese GAAP
FYE Mar 2019	16.6	−6.7%	Cons. · Japanese GAAP
FYE Mar 2020	17.4	+4.7%	Cons. · Japanese GAAP
FYE Mar 2021	15.2	−12.9%	Cons. · Japanese GAAP
FYE Mar 2022	13.1	−13.7%	Cons. · Japanese GAAP
FYE Mar 2023	11.7	−11.1%	Cons. · Japanese GAAP
FYE Mar 2024	13.6	+16.9%	Cons. · Japanese GAAP
FYE Mar 2025	11.2	−17.5%	Cons. · Japanese GAAP
FYE Mar 2026	10.1	−10.1%	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 35.5%

Average · 10 yrs 25.3%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	23.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.9	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	19.1	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2020	23.7	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2021	21.5	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2022	24.2	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2023	24.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	28.7	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2025	29.5	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	35.5	+6.0pp	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 68.2%

Average · 10 yrs 132.0%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	115.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	127.4	+12.3pp	Cons. · Japanese GAAP
FYE Mar 2019	197.5	+70.1pp	Cons. · Japanese GAAP
FYE Mar 2020	150.0	−47.5pp	Cons. · Japanese GAAP
FYE Mar 2021	156.8	+6.8pp	Cons. · Japanese GAAP
FYE Mar 2022	147.2	−9.6pp	Cons. · Japanese GAAP
FYE Mar 2023	152.2	+5.0pp	Cons. · Japanese GAAP
FYE Mar 2024	108.2	−44.1pp	Cons. · Japanese GAAP
FYE Mar 2025	97.8	−10.4pp	Cons. · Japanese GAAP
FYE Mar 2026	68.2	−29.6pp	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 13.4%

Average · 10 yrs 12.4%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	12.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.9	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	13.8	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2020	13.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	2.6	−11.2pp	Cons. · Japanese GAAP
FYE Mar 2022	13.4	+10.8pp	Cons. · Japanese GAAP
FYE Mar 2023	11.5	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2024	14.3	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2025	16.4	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	13.4	−2.9pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 4.8%

Average · 10 yrs 3.2%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.7	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	2.6	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	3.3	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	0.6	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2022	3.2	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2023	2.8	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	4.1	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	4.8	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	4.8	−0.1pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 1.32×

CAGR · 10 yrs −3.9%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.88	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.96	+4.2%	Cons. · Japanese GAAP
FYE Mar 2019	1.61	−18.0%	Cons. · Japanese GAAP
FYE Mar 2020	1.72	+7.1%	Cons. · Japanese GAAP
FYE Mar 2021	1.50	−12.8%	Cons. · Japanese GAAP
FYE Mar 2022	1.54	+2.6%	Cons. · Japanese GAAP
FYE Mar 2023	1.66	+7.8%	Cons. · Japanese GAAP
FYE Mar 2024	1.29	−22.3%	Cons. · Japanese GAAP
FYE Mar 2025	1.40	+8.3%	Cons. · Japanese GAAP
FYE Mar 2026	1.32	−5.8%	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 ¥101bn

CAGR · 10 yrs +11.8%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	37.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	37.2	+0.3%	Cons. · Japanese GAAP
FYE Mar 2019	33.1	−10.9%	Cons. · Japanese GAAP
FYE Mar 2020	33.6	+1.3%	Cons. · Japanese GAAP
FYE Mar 2021	29.7	−11.6%	Cons. · Japanese GAAP
FYE Mar 2022	45.4	+53.0%	Cons. · Japanese GAAP
FYE Mar 2023	53.1	+16.8%	Cons. · Japanese GAAP
FYE Mar 2024	86.0	+62.0%	Cons. · Japanese GAAP
FYE Mar 2025	79.0	−8.2%	Cons. · Japanese GAAP
FYE Mar 2026	101	+28.1%	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 -¥78bn

Average · 10 yrs -¥50bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-26.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-24.7	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-52.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-35.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-23.5	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-31.6	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-35.2	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-125	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-66.5	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-78.1	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 ¥20bn

Average · 10 yrs ¥5.6bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-9.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-9.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	50.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-25.8	−151.2%	Cons. · Japanese GAAP
FYE Mar 2021	1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-12.0	−783.7%	Cons. · Japanese GAAP
FYE Mar 2023	1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2024	54.6	+2862.7%	Cons. · Japanese GAAP
FYE Mar 2025	-16.2	−129.7%	Cons. · Japanese GAAP
FYE Mar 2026	19.8	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 ¥128bn

CAGR · 10 yrs +21.5%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	22.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.1	+17.4%	Cons. · Japanese GAAP
FYE Mar 2019	57.2	+119.0%	Cons. · Japanese GAAP
FYE Mar 2020	28.9	−49.5%	Cons. · Japanese GAAP
FYE Mar 2021	37.6	+30.1%	Cons. · Japanese GAAP
FYE Mar 2022	42.4	+12.7%	Cons. · Japanese GAAP
FYE Mar 2023	64.7	+52.5%	Cons. · Japanese GAAP
FYE Mar 2024	82.2	+27.0%	Cons. · Japanese GAAP
FYE Mar 2025	79.7	−3.0%	Cons. · Japanese GAAP
FYE Mar 2026	128	+60.7%	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 ¥23bn

CAGR · 10 yrs +8.7%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	10.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.5	+15.1%	Cons. · Japanese GAAP
FYE Mar 2019	-19.0	−252.1%	Cons. · Japanese GAAP
FYE Mar 2020	-1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	6.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	13.9	+125.1%	Cons. · Japanese GAAP
FYE Mar 2023	17.9	+28.8%	Cons. · Japanese GAAP
FYE Mar 2024	-39.4	−320.4%	Cons. · Japanese GAAP
FYE Mar 2025	12.5	n/a	Cons. · Japanese GAAP
FYE Mar 2026	23.1	+85.4%	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 8.0%

Average · 10 yrs 6.7%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	5.5	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	5.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	5.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	6.9	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2023	6.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	8.9	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2025	6.9	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	8.0	+1.1pp	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 -¥104bn

Average · 10 yrs -¥103bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-55.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-59.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-85.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-101	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-96.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-110	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-111	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-150	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-155	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-104	n/a	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 ¥1.57tn

Change · 10 yrs +¥1.29tn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	279	n/a
FYE Mar 2018	362	n/a
FYE Mar 2019	383	n/a
FYE Mar 2020	320	n/a
FYE Mar 2021	439	n/a
FYE Mar 2022	443	n/a
FYE Mar 2023	608	n/a
FYE Mar 2024	1,036	n/a
FYE Mar 2025	1,295	n/a
FYE Mar 2026	1,568	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 9,186¥

Change · 10 yrs +7,320¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,865	n/a
FYE Mar 2018	2,422	n/a
FYE Mar 2019	2,561	n/a
FYE Mar 2020	2,064	n/a
FYE Mar 2021	2,832	n/a
FYE Mar 2022	2,863	n/a
FYE Mar 2023	3,929	n/a
FYE Mar 2024	6,449	n/a
FYE Mar 2025	8,055	n/a
FYE Mar 2026	9,186	n/a

Definition: The closing price on the last day of the fiscal year
Formula: Year-end closing price
Source: Securities report (XBRL)

Shares outstanding

FYE Mar 2026 170,733,525shares

Change · 10 yrs +21,093,080 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	149,640,445	Parent
FYE Mar 2018	149,640,445	Parent
FYE Mar 2019	149,640,445	Parent
FYE Mar 2020	154,862,825	Parent
FYE Mar 2021	154,862,825	Parent
FYE Mar 2022	154,862,825	Parent
FYE Mar 2023	154,862,825	Parent
FYE Mar 2024	160,733,525	Parent
FYE Mar 2025	160,733,525	Parent
FYE Mar 2026	170,733,525	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 275.85¥

Change · 10 yrs +218.98¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	56.87	Cons.
FYE Mar 2018	54.18	Cons.
FYE Mar 2019	67.93	Cons.
FYE Mar 2020	80.31	Cons.
FYE Mar 2021	14.82	Cons.
FYE Mar 2022	91.17	Cons.
FYE Mar 2023	87.30	Cons.
FYE Mar 2024	195.41	Cons.
FYE Mar 2025	240.45	Cons.
FYE Mar 2026	275.85	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 1,997.05¥

Change · 10 yrs +1,543.26¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	453.79	Cons. · Japanese GAAP
FYE Mar 2018	451.05	Cons. · Japanese GAAP
FYE Mar 2019	482.24	Cons. · Japanese GAAP
FYE Mar 2020	559.29	Cons. · Japanese GAAP
FYE Mar 2021	550.96	Cons. · Japanese GAAP
FYE Mar 2022	667.18	Cons. · Japanese GAAP
FYE Mar 2023	746.69	Cons. · Japanese GAAP
FYE Mar 2024	1,333.79	Cons. · Japanese GAAP
FYE Mar 2025	1,493.54	Cons. · Japanese GAAP
FYE Mar 2026	1,997.05	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 33.30×

Average · 10 yrs 50.82×

Fiscal year	PER ×	Basis
FYE Mar 2017	32.80	Cons.
FYE Mar 2018	44.70	Cons.
FYE Mar 2019	37.70	Cons.
FYE Mar 2020	25.70	Cons.
FYE Mar 2021	191.10	Cons.
FYE Mar 2022	31.40	Cons.
FYE Mar 2023	45.00	Cons.
FYE Mar 2024	33.00	Cons.
FYE Mar 2025	33.50	Cons.
FYE Mar 2026	33.30	Cons.

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

PBR price-to-book ratio

FYE Mar 2026 5.51×

Average · 10 yrs 4.96×

Fiscal year	PBR ×	Basis
FYE Mar 2017	4.07	Cons.
FYE Mar 2018	5.24	Cons.
FYE Mar 2019	5.16	Cons.
FYE Mar 2020	3.66	Cons.
FYE Mar 2021	5.05	Cons.
FYE Mar 2022	4.21	Cons.
FYE Mar 2023	5.16	Cons.
FYE Mar 2024	5.50	Cons.
FYE Mar 2025	6.03	Cons.
FYE Mar 2026	5.51	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 20,626people

Change · 10 yrs +11,415 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	9,211	n/a	Cons.
FYE Mar 2018	10,877	+18.1%	Cons.
FYE Mar 2019	12,521	+15.1%	Cons.
FYE Mar 2020	14,402	+15.0%	Cons.
FYE Mar 2021	16,253	+12.9%	Cons.
FYE Mar 2022	15,929	−2.0%	Cons.
FYE Mar 2023	17,324	+8.8%	Cons.
FYE Mar 2024	16,806	−3.0%	Cons.
FYE Mar 2025	18,742	+11.5%	Cons.
FYE Mar 2026	20,626	+10.1%	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 1,129people

Change · 10 yrs +601 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	528	n/a	Parent
FYE Mar 2018	550	+4.2%	Parent
FYE Mar 2019	622	+13.1%	Parent
FYE Mar 2020	600	−3.5%	Parent
FYE Mar 2021	627	+4.5%	Parent
FYE Mar 2022	655	+4.5%	Parent
FYE Mar 2023	684	+4.4%	Parent
FYE Mar 2024	790	+15.5%	Parent
FYE Mar 2025	852	+7.8%	Parent
FYE Mar 2026	1,129	+32.5%	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 830万円

Change · 8 yrs +220万円

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	610	n/a	Parent
FYE Mar 2020	619	+1.5%	Parent
FYE Mar 2021	601	−2.9%	Parent
FYE Mar 2022	626	+4.2%	Parent
FYE Mar 2023	644	+3.0%	Parent
FYE Mar 2024	743	+15.3%	Parent
FYE Mar 2025	817	+10.0%	Parent
FYE Mar 2026	830	+1.7%	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 39.4years

Change · 8 yrs +2.0 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	37.4	n/a	Parent
FYE Mar 2020	37.5	+0.3%	Parent
FYE Mar 2021	37.7	+0.5%	Parent
FYE Mar 2022	38.6	+2.4%	Parent
FYE Mar 2023	39.3	+1.8%	Parent
FYE Mar 2024	39.9	+1.5%	Parent
FYE Mar 2025	40.1	+0.5%	Parent
FYE Mar 2026	39.4	−1.7%	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 8.5years

Change · 8 yrs +1.0 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	7.5	n/a	Parent
FYE Mar 2020	7.6	+1.3%	Parent
FYE Mar 2021	7.6	−0.0%	Parent
FYE Mar 2022	7.9	+3.9%	Parent
FYE Mar 2023	8.5	+7.6%	Parent
FYE Mar 2024	9.1	+7.1%	Parent
FYE Mar 2025	9.1	−0.0%	Parent
FYE Mar 2026	8.5	−6.6%	Parent

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

Temporary employees

FYE Mar 2026 76,437people

Change · 10 yrs +26,546 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	49,891	n/a	n/a
FYE Mar 2018	50,837	+1.9%	n/a
FYE Mar 2019	52,682	+3.6%	n/a
FYE Mar 2020	50,148	−4.8%	n/a
FYE Mar 2021	51,125	+1.9%	n/a
FYE Mar 2022	51,118	−0.0%	n/a
FYE Mar 2023	56,313	+10.2%	n/a
FYE Mar 2024	66,418	+17.9%	n/a
FYE Mar 2025	69,340	+4.4%	n/a
FYE Mar 2026	76,437	+10.2%	n/a

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

Revenue per employee

FYE Mar 2026 ¥61.3m

Change · 10 yrs +¥2.2m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	59.1	n/a	Cons.
FYE Mar 2018	53.2	−9.9%	Cons.
FYE Mar 2019	48.5	−8.8%	Cons.
FYE Mar 2020	43.8	−9.8%	Cons.
FYE Mar 2021	36.6	−16.4%	Cons.
FYE Mar 2022	41.3	+12.9%	Cons.
FYE Mar 2023	45.0	+8.9%	Cons.
FYE Mar 2024	57.5	+27.6%	Cons.
FYE Mar 2025	60.6	+5.5%	Cons.
FYE Mar 2026	61.3	+1.0%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥3.9m

Change · 10 yrs +¥1.9m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.0	n/a	Cons.
FYE Mar 2018	1.6	−20.6%	Cons.
FYE Mar 2019	1.5	−7.1%	Cons.
FYE Mar 2020	1.5	−3.4%	Cons.
FYE Mar 2021	0.7	−48.8%	Cons.
FYE Mar 2022	0.6	−22.1%	Cons.
FYE Mar 2023	1.3	+116.5%	Cons.
FYE Mar 2024	3.2	+154.7%	Cons.
FYE Mar 2025	4.0	+25.4%	Cons.
FYE Mar 2026	3.9	−1.5%	Cons.

Definition: What each employee accounts for in operating profit
Formula: Operating profit ÷ group employees
Source: Securities report (XBRL)

Disclaimer

Figures are reproduced as filed and are not restated: a change of accounting standard or of consolidation basis moves the series without anything happening to the business. Where that happened, the table says so in place of the year-on-year figure.
Ratios and per-employee figures are computed from the filed lines rather than taken from the filing, and use year-end balances rather than averages.

Accuracy, liability, reuse and privacy — the full disclaimer →

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