Financials

Workman: FYE Mar 2026 and ten years of results (40 metrics)

FYE Mar 2026 · Revenue¥161bnYoY +17.5%
FYE Mar 2026 · Operating profit¥30bnYoY +21.7%
FYE Mar 2025 · Net profit¥17bnYoY +5.7%
FYE Mar 2026 · Equity ratio82.8%YoY −0.6pp
Fiscal yearRevenueYoYOperating profitYoYMarginNet profitChief executiveThat year
FYE Mar 2017Parent only¥52bnn/a¥9.6bnn/a18.3%¥7.1bnKuriyama Kiyoharu—
FYE Mar 2018Parent only¥56bn+7.7%¥11bn+11.0%18.9%¥7.8bnKuriyama Kiyoharu—
FYE Mar 2019Parent only¥67bn+19.4%¥14bn+27.6%20.2%¥9.8bnKuriyama KiyoharuWorkman Plus opens the general-consumer market
FYE Mar 2020Parent only¥92bn+37.8%¥19bn+41.7%20.8%¥13bnKuriyama Kiyoharu<a class="en-history_person" href="/tse/7564/executives/ceo/kohama-hideyuki/" hreflang="ja">Kohama Hideyuki</a> becomes president
FYE Mar 2021Parent only¥106bn+14.6%¥24bn+25.0%22.6%¥17bnKohama HideyukiFirst #Workman Joshi; all 47 prefectures covered
FYE Mar 2022Parent only¥116bn+9.9%¥27bn+11.9%23.1%¥18bnKohama Hideyuki—
FYE Mar 2023Parent only¥128bn+10.3%¥24bn−10.1%18.8%¥16bnKohama HideyukiMoves to the TSE Standard market
FYE Mar 2024Parent only¥133bn+3.4%¥23bn−4.0%17.4%¥16bnKohama Hideyuki1,000th store; first Workman Colors (Ginza)
FYE Mar 2025Parent only¥137bn+3.2%¥24bn+5.4%17.8%¥17bnKohama Hideyuki—
FYE Mar 2026Parent only¥161bn+17.5%¥30bn+21.7%18.4%n/aKohama HideyukiOverseas trials begin

How it compares

Fast Retailing (Uniqlo)¥3.40tnFY2025Operating margin 16.6%Shimamura¥700bnFY2025Operating margin 8.8%
Aokihorudingusu¥193bnFY2024Operating margin 8.1%
AOYAMA TRADING Co. Ltd.¥189bnFY2025Operating margin 5.6%
Workman¥161bnFY2025Operating margin 18.4%

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

Where the revenue goes

¥ bn
Cost of sales SG&A Operating profit

Margins

%
Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥161bn
CAGR · 10 yrs +13.3%
Fiscal year Revenue ¥ bn YoY Basis
FYE Mar 2017 52.1 n/a Parent · Japanese GAAP
FYE Mar 2018 56.1 +7.7% Parent · Japanese GAAP
FYE Mar 2019 67.0 +19.4% Parent · Japanese GAAP
FYE Mar 2020 92.3 +37.8% Parent · Japanese GAAP
FYE Mar 2021 106 +14.6% Parent · Japanese GAAP
FYE Mar 2022 116 +9.9% Parent · Japanese GAAP
FYE Mar 2023 128 +10.3% Parent · Japanese GAAP
FYE Mar 2024 133 +3.4% Parent · Japanese GAAP
FYE Mar 2025 137 +3.2% Parent · Japanese GAAP
FYE Mar 2026 161 +17.5% Parent · 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 ¥100bn
CAGR · 10 yrs +12.9%
Fiscal year Cost of sales ¥ bn YoY Basis
FYE Mar 2017 33.4 n/a Parent · Japanese GAAP
FYE Mar 2018 35.6 +6.7% Parent · Japanese GAAP
FYE Mar 2019 41.8 +17.3% Parent · Japanese GAAP
FYE Mar 2020 57.9 +38.7% Parent · Japanese GAAP
FYE Mar 2021 64.1 +10.6% Parent · Japanese GAAP
FYE Mar 2022 70.2 +9.6% Parent · Japanese GAAP
FYE Mar 2023 83.5 +19.0% Parent · Japanese GAAP
FYE Mar 2024 85.4 +2.3% Parent · Japanese GAAP
FYE Mar 2025 85.8 +0.4% Parent · Japanese GAAP
FYE Mar 2026 99.9 +16.4% Parent · 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 ¥61bn
CAGR · 10 yrs +14.0%
Fiscal year Gross profit ¥ bn YoY Basis
FYE Mar 2017 18.7 n/a Parent · Japanese GAAP
FYE Mar 2018 20.5 +9.5% Parent · Japanese GAAP
FYE Mar 2019 25.2 +23.1% Parent · Japanese GAAP
FYE Mar 2020 34.4 +36.4% Parent · Japanese GAAP
FYE Mar 2021 41.8 +21.5% Parent · Japanese GAAP
FYE Mar 2022 46.1 +10.3% Parent · Japanese GAAP
FYE Mar 2023 44.8 −2.8% Parent · Japanese GAAP
FYE Mar 2024 47.2 +5.5% Parent · Japanese GAAP
FYE Mar 2025 51.2 +8.3% Parent · Japanese GAAP
FYE Mar 2026 61.0 +19.2% Parent · 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 ¥31bn
CAGR · 10 yrs +14.7%
Fiscal year SG&A ¥ bn YoY Basis
FYE Mar 2017 9.1 n/a Parent · Japanese GAAP
FYE Mar 2018 9.9 +7.9% Parent · Japanese GAAP
FYE Mar 2019 11.7 +18.3% Parent · Japanese GAAP
FYE Mar 2020 15.2 +30.3% Parent · Japanese GAAP
FYE Mar 2021 17.8 +17.0% Parent · Japanese GAAP
FYE Mar 2022 19.3 +8.1% Parent · Japanese GAAP
FYE Mar 2023 20.7 +7.3% Parent · Japanese GAAP
FYE Mar 2024 24.1 +16.6% Parent · Japanese GAAP
FYE Mar 2025 26.8 +11.1% Parent · Japanese GAAP
FYE Mar 2026 31.3 +17.0% Parent · 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 ¥30bn
CAGR · 10 yrs +13.4%
Fiscal year Operating profit ¥ bn YoY Basis
FYE Mar 2017 9.6 n/a Parent · Japanese GAAP
FYE Mar 2018 10.6 +11.0% Parent · Japanese GAAP
FYE Mar 2019 13.5 +27.6% Parent · Japanese GAAP
FYE Mar 2020 19.2 +41.7% Parent · Japanese GAAP
FYE Mar 2021 24.0 +25.0% Parent · Japanese GAAP
FYE Mar 2022 26.8 +11.9% Parent · Japanese GAAP
FYE Mar 2023 24.1 −10.1% Parent · Japanese GAAP
FYE Mar 2024 23.1 −4.0% Parent · Japanese GAAP
FYE Mar 2025 24.4 +5.4% Parent · Japanese GAAP
FYE Mar 2026 29.7 +21.7% Parent · Japanese GAAP
Definition
What the core business earns
Formula
Gross profit − SG&A
Source
Securities report (XBRL)

Non-operating income

FYE Mar 2026 ¥0.9bn
CAGR · 10 yrs −3.2%
Fiscal year Non-operating income ¥ bn YoY Basis
FYE Mar 2017 1.2 n/a Parent · Japanese GAAP
FYE Mar 2018 1.3 +5.5% Parent · Japanese GAAP
FYE Mar 2019 1.3 −1.9% Parent · Japanese GAAP
FYE Mar 2020 1.6 +20.7% Parent · Japanese GAAP
FYE Mar 2021 1.5 −3.0% Parent · Japanese GAAP
FYE Mar 2022 0.6 −57.4% Parent · Japanese GAAP
FYE Mar 2023 0.6 −5.6% Parent · Japanese GAAP
FYE Mar 2024 0.6 −7.2% Parent · Japanese GAAP
FYE Mar 2025 0.5 −3.4% Parent · Japanese GAAP
FYE Mar 2026 0.9 +69.9% Parent · 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 ¥34.0m
CAGR · 10 yrs −6.5%
Fiscal year Non-operating expenses ¥ m YoY Basis
FYE Mar 2017 62.0 n/a Parent · Japanese GAAP
FYE Mar 2018 59.9 −3.5% Parent · Japanese GAAP
FYE Mar 2019 58.3 −2.6% Parent · Japanese GAAP
FYE Mar 2020 58.0 −0.5% Parent · Japanese GAAP
FYE Mar 2021 54.0 −6.9% Parent · Japanese GAAP
FYE Mar 2022 50.0 −7.4% Parent · Japanese GAAP
FYE Mar 2023 50.0 −0.0% Parent · Japanese GAAP
FYE Mar 2024 40.0 −20.0% Parent · Japanese GAAP
FYE Mar 2025 34.0 −15.0% Parent · Japanese GAAP
FYE Mar 2026 34.0 −0.0% Parent · 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 ¥31bn
CAGR · 10 yrs +12.3%
Fiscal year Ordinary profit ¥ bn YoY Basis
FYE Mar 2017 10.7 n/a Parent · Japanese GAAP
FYE Mar 2018 11.9 +10.4% Parent · Japanese GAAP
FYE Mar 2019 14.8 +24.5% Parent · Japanese GAAP
FYE Mar 2020 20.7 +40.1% Parent · Japanese GAAP
FYE Mar 2021 25.4 +23.0% Parent · Japanese GAAP
FYE Mar 2022 27.4 +7.8% Parent · Japanese GAAP
FYE Mar 2023 24.7 −10.0% Parent · Japanese GAAP
FYE Mar 2024 23.7 −4.0% Parent · Japanese GAAP
FYE Mar 2025 24.9 +5.2% Parent · Japanese GAAP
FYE Mar 2026 30.6 +22.7% Parent · Japanese GAAP
Definition
A level of profit that exists only under Japanese GAAP
Formula
Operating profit + non-operating income − non-operating expenses
Source
Securities report (XBRL)

Extraordinary income

FYE Mar 2026 ¥1.0m
CAGR · 8 yrs −5.6%
Fiscal year Extraordinary income ¥ m YoY Basis
FYE Mar 2017 1.5 n/a Parent · Japanese GAAP
FYE Mar 2018 n/a n/a Parent · Japanese GAAP
FYE Mar 2019 n/a n/a Parent · Japanese GAAP
FYE Mar 2020 2.0 n/a Parent · Japanese GAAP
FYE Mar 2021 4.0 +100.0% Parent · Japanese GAAP
FYE Mar 2022 2.0 −50.0% Parent · Japanese GAAP
FYE Mar 2023 4.0 +100.0% Parent · Japanese GAAP
FYE Mar 2024 1.0 −75.0% Parent · Japanese GAAP
FYE Mar 2025 2.0 +100.0% Parent · Japanese GAAP
FYE Mar 2026 1.0 −50.0% Parent · Japanese GAAP
Definition
One-off gains, such as an asset sale
Formula
Extraordinary income line of the income statement
Source
Securities report (XBRL)

Extraordinary loss

FYE Mar 2026 ¥132m
CAGR · 10 yrs +3.4%
Fiscal year Extraordinary loss ¥ m YoY Basis
FYE Mar 2017 97.4 n/a Parent · Japanese GAAP
FYE Mar 2018 61.0 −37.4% Parent · Japanese GAAP
FYE Mar 2019 26.8 −56.0% Parent · Japanese GAAP
FYE Mar 2020 573 +2036.5% Parent · Japanese GAAP
FYE Mar 2021 57.0 −90.1% Parent · Japanese GAAP
FYE Mar 2022 83.0 +45.6% Parent · Japanese GAAP
FYE Mar 2023 13.0 −84.3% Parent · Japanese GAAP
FYE Mar 2024 31.0 +138.5% Parent · Japanese GAAP
FYE Mar 2025 16.0 −48.4% Parent · Japanese GAAP
FYE Mar 2026 132 +725.0% Parent · Japanese GAAP
Definition
One-off losses, such as an impairment or a restructuring charge
Formula
Extraordinary loss line of the income statement
Source
Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Mar 2026 n/a
CAGR · 9 yrs +11.4%
Fiscal year Net profit ¥ bn YoY Basis
FYE Mar 2017 7.1 n/a Parent · Japanese GAAP
FYE Mar 2018 7.8 +9.8% Parent · Japanese GAAP
FYE Mar 2019 9.8 +25.0% Parent · Japanese GAAP
FYE Mar 2020 13.4 +36.3% Parent · Japanese GAAP
FYE Mar 2021 17.0 +27.5% Parent · Japanese GAAP
FYE Mar 2022 18.3 +7.4% Parent · Japanese GAAP
FYE Mar 2023 16.2 −11.7% Parent · Japanese GAAP
FYE Mar 2024 16.0 −1.1% Parent · Japanese GAAP
FYE Mar 2025 16.9 +5.7% Parent · Japanese GAAP
FYE Mar 2026 n/a n/a Parent · Japanese GAAP
Definition
What is left after tax
Formula
Pre-tax profit − income taxes
Source
Securities report (XBRL)

Gross margin

FYE Mar 2026 37.9%
Average · 10 yrs 37.2%
Fiscal year Gross margin % YoY Basis
FYE Mar 2017 35.9 n/a Parent · Japanese GAAP
FYE Mar 2018 36.5 +0.6pp Parent · Japanese GAAP
FYE Mar 2019 37.6 +1.1pp Parent · Japanese GAAP
FYE Mar 2020 37.2 −0.4pp Parent · Japanese GAAP
FYE Mar 2021 39.5 +2.2pp Parent · Japanese GAAP
FYE Mar 2022 39.6 +0.1pp Parent · Japanese GAAP
FYE Mar 2023 34.9 −4.7pp Parent · Japanese GAAP
FYE Mar 2024 35.6 +0.7pp Parent · Japanese GAAP
FYE Mar 2025 37.4 +1.8pp Parent · Japanese GAAP
FYE Mar 2026 37.9 +0.6pp Parent · 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 18.4%
Average · 10 yrs 19.6%
Fiscal year Operating margin % YoY Basis
FYE Mar 2017 18.3 n/a Parent · Japanese GAAP
FYE Mar 2018 18.9 +0.6pp Parent · Japanese GAAP
FYE Mar 2019 20.2 +1.3pp Parent · Japanese GAAP
FYE Mar 2020 20.8 +0.6pp Parent · Japanese GAAP
FYE Mar 2021 22.6 +1.9pp Parent · Japanese GAAP
FYE Mar 2022 23.1 +0.4pp Parent · Japanese GAAP
FYE Mar 2023 18.8 −4.3pp Parent · Japanese GAAP
FYE Mar 2024 17.4 −1.3pp Parent · Japanese GAAP
FYE Mar 2025 17.8 +0.4pp Parent · Japanese GAAP
FYE Mar 2026 18.4 +0.6pp Parent · Japanese GAAP
Definition
The share of revenue the core business keeps
Formula
Operating profit ÷ revenue
Source
Securities report (XBRL)

Ordinary margin

FYE Mar 2026 19.0%
Average · 10 yrs 20.8%
Fiscal year Ordinary margin % YoY Basis
FYE Mar 2017 20.6 n/a Parent · Japanese GAAP
FYE Mar 2018 21.1 +0.5pp Parent · Japanese GAAP
FYE Mar 2019 22.0 +0.9pp Parent · Japanese GAAP
FYE Mar 2020 22.4 +0.4pp Parent · Japanese GAAP
FYE Mar 2021 24.0 +1.6pp Parent · Japanese GAAP
FYE Mar 2022 23.6 −0.4pp Parent · Japanese GAAP
FYE Mar 2023 19.2 −4.3pp Parent · Japanese GAAP
FYE Mar 2024 17.8 −1.4pp Parent · Japanese GAAP
FYE Mar 2025 18.2 +0.3pp Parent · Japanese GAAP
FYE Mar 2026 19.0 +0.8pp Parent · 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 n/a
Average · 9 yrs 14.0%
Fiscal year Net margin % YoY Basis
FYE Mar 2017 13.7 n/a Parent · Japanese GAAP
FYE Mar 2018 14.0 +0.3pp Parent · Japanese GAAP
FYE Mar 2019 14.6 +0.7pp Parent · Japanese GAAP
FYE Mar 2020 14.5 −0.2pp Parent · Japanese GAAP
FYE Mar 2021 16.1 +1.6pp Parent · Japanese GAAP
FYE Mar 2022 15.7 −0.4pp Parent · Japanese GAAP
FYE Mar 2023 12.6 −3.1pp Parent · Japanese GAAP
FYE Mar 2024 12.1 −0.5pp Parent · Japanese GAAP
FYE Mar 2025 12.3 +0.3pp Parent · Japanese GAAP
FYE Mar 2026 n/a n/a Parent · 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 62.1%
Average · 10 yrs 62.8%
Fiscal year Cost-of-sales ratio % YoY Basis
FYE Mar 2017 64.1 n/a Parent · Japanese GAAP
FYE Mar 2018 63.5 −0.6pp Parent · Japanese GAAP
FYE Mar 2019 62.4 −1.1pp Parent · Japanese GAAP
FYE Mar 2020 62.8 +0.4pp Parent · Japanese GAAP
FYE Mar 2021 60.5 −2.2pp Parent · Japanese GAAP
FYE Mar 2022 60.4 −0.1pp Parent · Japanese GAAP
FYE Mar 2023 65.1 +4.7pp Parent · Japanese GAAP
FYE Mar 2024 64.4 −0.7pp Parent · Japanese GAAP
FYE Mar 2025 62.6 −1.8pp Parent · Japanese GAAP
FYE Mar 2026 62.1 −0.6pp Parent · 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 19.5%
Average · 10 yrs 17.6%
Fiscal year SG&A ratio % YoY Basis
FYE Mar 2017 17.6 n/a Parent · Japanese GAAP
FYE Mar 2018 17.6 −0.0pp Parent · Japanese GAAP
FYE Mar 2019 17.4 −0.2pp Parent · Japanese GAAP
FYE Mar 2020 16.5 −0.9pp Parent · Japanese GAAP
FYE Mar 2021 16.8 +0.3pp Parent · Japanese GAAP
FYE Mar 2022 16.6 −0.3pp Parent · Japanese GAAP
FYE Mar 2023 16.1 −0.5pp Parent · Japanese GAAP
FYE Mar 2024 18.2 +2.1pp Parent · Japanese GAAP
FYE Mar 2025 19.5 +1.4pp Parent · Japanese GAAP
FYE Mar 2026 19.5 −0.1pp Parent · 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 ¥185bn
CAGR · 10 yrs +11.6%
Fiscal year Total assets ¥ bn YoY Basis
FYE Mar 2017 68.8 n/a Parent · Japanese GAAP
FYE Mar 2018 73.2 +6.5% Parent · Japanese GAAP
FYE Mar 2019 83.2 +13.6% Parent · Japanese GAAP
FYE Mar 2020 97.5 +17.2% Parent · Japanese GAAP
FYE Mar 2021 113 +15.7% Parent · Japanese GAAP
FYE Mar 2022 125 +10.9% Parent · Japanese GAAP
FYE Mar 2023 136 +8.5% Parent · Japanese GAAP
FYE Mar 2024 148 +9.3% Parent · Japanese GAAP
FYE Mar 2025 162 +9.3% Parent · Japanese GAAP
FYE Mar 2026 185 +14.2% Parent · 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 ¥153bn
CAGR · 10 yrs +12.4%
Fiscal year Equity ¥ bn YoY Basis
FYE Mar 2017 53.8 n/a Parent · Japanese GAAP
FYE Mar 2018 59.4 +10.5% Parent · Japanese GAAP
FYE Mar 2019 66.9 +12.7% Parent · Japanese GAAP
FYE Mar 2020 77.5 +15.8% Parent · Japanese GAAP
FYE Mar 2021 90.6 +16.9% Parent · Japanese GAAP
FYE Mar 2022 104 +14.3% Parent · Japanese GAAP
FYE Mar 2023 114 +10.3% Parent · Japanese GAAP
FYE Mar 2024 125 +9.8% Parent · Japanese GAAP
FYE Mar 2025 135 +7.9% Parent · Japanese GAAP
FYE Mar 2026 153 +13.4% Parent · 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 ¥1.4bn
CAGR · 10 yrs −0.0%
Fiscal year Interest-bearing debt ¥ bn YoY Basis
FYE Mar 2017 1.4 n/a Parent · Japanese GAAP
FYE Mar 2018 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2019 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2020 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2021 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2022 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2023 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2024 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2025 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2026 1.4 −0.0% Parent · Japanese GAAP
Definition
Borrowings the company pays interest on
Formula
Loans + bonds + lease obligations
Source
Securities report (XBRL)

Short-term borrowings

FYE Mar 2026 ¥1.4bn
CAGR · 10 yrs −0.0%
Fiscal year Short-term borrowings ¥ bn YoY Basis
FYE Mar 2017 1.4 n/a Parent · Japanese GAAP
FYE Mar 2018 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2019 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2020 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2021 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2022 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2023 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2024 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2025 1.4 −0.0% Parent · Japanese GAAP
FYE Mar 2026 1.4 −0.0% Parent · Japanese GAAP
Definition
Borrowings repayable within a year
Formula
Short-term borrowings line of the balance sheet
Source
Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥1.4bn
CAGR · 10 yrs +18.1%
Fiscal year Intangible assets ¥ bn YoY Basis
FYE Mar 2017 0.3 n/a Parent · Japanese GAAP
FYE Mar 2018 0.3 −10.3% Parent · Japanese GAAP
FYE Mar 2019 0.3 −7.4% Parent · Japanese GAAP
FYE Mar 2020 0.5 +70.6% Parent · Japanese GAAP
FYE Mar 2021 0.8 +69.0% Parent · Japanese GAAP
FYE Mar 2022 0.8 +6.4% Parent · Japanese GAAP
FYE Mar 2023 0.9 +8.1% Parent · Japanese GAAP
FYE Mar 2024 0.8 −14.0% Parent · Japanese GAAP
FYE Mar 2025 1.1 +43.4% Parent · Japanese GAAP
FYE Mar 2026 1.4 +31.8% Parent · 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 82.8%
Average · 10 yrs 81.7%
Fiscal year Equity ratio % YoY Basis
FYE Mar 2017 78.2 n/a Parent · Japanese GAAP
FYE Mar 2018 81.1 +2.9pp Parent · Japanese GAAP
FYE Mar 2019 80.5 −0.6pp Parent · Japanese GAAP
FYE Mar 2020 79.5 −1.0pp Parent · Japanese GAAP
FYE Mar 2021 80.3 +0.8pp Parent · Japanese GAAP
FYE Mar 2022 82.8 +2.5pp Parent · Japanese GAAP
FYE Mar 2023 84.2 +1.4pp Parent · Japanese GAAP
FYE Mar 2024 84.5 +0.4pp Parent · Japanese GAAP
FYE Mar 2025 83.4 −1.1pp Parent · Japanese GAAP
FYE Mar 2026 82.8 −0.6pp Parent · 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 0.9%
Average · 10 yrs 1.5%
Fiscal year Debt-to-equity ratio % YoY Basis
FYE Mar 2017 2.5 n/a Parent · Japanese GAAP
FYE Mar 2018 2.3 −0.2pp Parent · Japanese GAAP
FYE Mar 2019 2.0 −0.3pp Parent · Japanese GAAP
FYE Mar 2020 1.7 −0.3pp Parent · Japanese GAAP
FYE Mar 2021 1.5 −0.3pp Parent · Japanese GAAP
FYE Mar 2022 1.3 −0.2pp Parent · Japanese GAAP
FYE Mar 2023 1.2 −0.1pp Parent · Japanese GAAP
FYE Mar 2024 1.1 −0.1pp Parent · Japanese GAAP
FYE Mar 2025 1.0 −0.1pp Parent · Japanese GAAP
FYE Mar 2026 0.9 −0.1pp Parent · 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 n/a
Average · 9 yrs 14.9%
Fiscal year ROE % YoY Basis
FYE Mar 2017 13.3 n/a Parent · Japanese GAAP
FYE Mar 2018 13.2 −0.1pp Parent · Japanese GAAP
FYE Mar 2019 14.7 +1.4pp Parent · Japanese GAAP
FYE Mar 2020 17.2 +2.6pp Parent · Japanese GAAP
FYE Mar 2021 18.8 +1.6pp Parent · Japanese GAAP
FYE Mar 2022 17.7 −1.1pp Parent · Japanese GAAP
FYE Mar 2023 14.1 −3.5pp Parent · Japanese GAAP
FYE Mar 2024 12.7 −1.4pp Parent · Japanese GAAP
FYE Mar 2025 12.5 −0.3pp Parent · Japanese GAAP
FYE Mar 2026 n/a n/a Parent · Japanese GAAP
Definition
What the shareholders' capital earns
Formula
Net profit ÷ equity
Source
Securities report (XBRL)

ROA return on assets

FYE Mar 2026 n/a
Average · 9 yrs 12.2%
Fiscal year ROA % YoY Basis
FYE Mar 2017 10.4 n/a Parent · Japanese GAAP
FYE Mar 2018 10.7 +0.3pp Parent · Japanese GAAP
FYE Mar 2019 11.8 +1.1pp Parent · Japanese GAAP
FYE Mar 2020 13.7 +1.9pp Parent · Japanese GAAP
FYE Mar 2021 15.1 +1.4pp Parent · Japanese GAAP
FYE Mar 2022 14.6 −0.5pp Parent · Japanese GAAP
FYE Mar 2023 11.9 −2.7pp Parent · Japanese GAAP
FYE Mar 2024 10.8 −1.1pp Parent · Japanese GAAP
FYE Mar 2025 10.4 −0.4pp Parent · Japanese GAAP
FYE Mar 2026 n/a n/a Parent · Japanese GAAP
Definition
What the whole balance sheet earns
Formula
Net profit ÷ total assets
Source
Securities report (XBRL)

Asset turnover

FYE Mar 2026 0.87×
CAGR · 10 yrs +1.5%
Fiscal year Asset turnover × YoY Basis
FYE Mar 2017 0.76 n/a Parent · Japanese GAAP
FYE Mar 2018 0.77 +1.1% Parent · Japanese GAAP
FYE Mar 2019 0.81 +5.1% Parent · Japanese GAAP
FYE Mar 2020 0.95 +17.6% Parent · Japanese GAAP
FYE Mar 2021 0.94 −1.0% Parent · Japanese GAAP
FYE Mar 2022 0.93 −0.9% Parent · Japanese GAAP
FYE Mar 2023 0.95 +1.7% Parent · Japanese GAAP
FYE Mar 2024 0.89 −5.4% Parent · Japanese GAAP
FYE Mar 2025 0.84 −5.6% Parent · Japanese GAAP
FYE Mar 2026 0.87 +2.9% Parent · 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 ¥19bn
CAGR · 10 yrs +11.7%
Fiscal year Operating cash flow ¥ bn YoY Basis
FYE Mar 2017 7.0 n/a Parent · Japanese GAAP
FYE Mar 2018 9.9 +41.1% Parent · Japanese GAAP
FYE Mar 2019 9.7 −2.0% Parent · Japanese GAAP
FYE Mar 2020 6.7 −30.7% Parent · Japanese GAAP
FYE Mar 2021 21.3 +218.7% Parent · Japanese GAAP
FYE Mar 2022 18.5 −13.5% Parent · Japanese GAAP
FYE Mar 2023 8.8 −52.2% Parent · Japanese GAAP
FYE Mar 2024 15.2 +72.8% Parent · Japanese GAAP
FYE Mar 2025 24.8 +62.8% Parent · Japanese GAAP
FYE Mar 2026 18.8 −24.0% Parent · Japanese GAAP
Definition
Cash the business itself generated
Formula
Cash flow from operating activities
Source
Securities report (XBRL)

Investing cash flow

FYE Mar 2026 -¥13bn
Average · 10 yrs -¥8.3bn
Fiscal year Investing cash flow ¥ bn YoY Basis
FYE Mar 2017 -11.1 n/a Parent · Japanese GAAP
FYE Mar 2018 -4.5 n/a Parent · Japanese GAAP
FYE Mar 2019 -5.6 n/a Parent · Japanese GAAP
FYE Mar 2020 4.4 n/a Parent · Japanese GAAP
FYE Mar 2021 -4.5 −202.6% Parent · Japanese GAAP
FYE Mar 2022 -9.6 n/a Parent · Japanese GAAP
FYE Mar 2023 0.2 n/a Parent · Japanese GAAP
FYE Mar 2024 -9.0 −4012.6% Parent · Japanese GAAP
FYE Mar 2025 -29.9 n/a Parent · Japanese GAAP
FYE Mar 2026 -13.4 n/a Parent · 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 -¥6.1bn
Average · 10 yrs -¥4.2bn
Fiscal year Financing cash flow ¥ bn YoY Basis
FYE Mar 2017 -2.0 n/a Parent · Japanese GAAP
FYE Mar 2018 -2.3 n/a Parent · Japanese GAAP
FYE Mar 2019 -2.5 n/a Parent · Japanese GAAP
FYE Mar 2020 -3.1 n/a Parent · Japanese GAAP
FYE Mar 2021 -4.2 n/a Parent · Japanese GAAP
FYE Mar 2022 -5.4 n/a Parent · Japanese GAAP
FYE Mar 2023 -5.7 n/a Parent · Japanese GAAP
FYE Mar 2024 -5.7 n/a Parent · Japanese GAAP
FYE Mar 2025 -5.7 n/a Parent · Japanese GAAP
FYE Mar 2026 -6.1 n/a Parent · Japanese GAAP
Definition
Cash raised from, or returned to, lenders and shareholders
Formula
Cash flow from financing activities
Source
Securities report (XBRL)

Cash and equivalents

FYE Mar 2026 ¥37bn
CAGR · 10 yrs +10.0%
Fiscal year Cash and equivalents ¥ bn YoY Basis
FYE Mar 2017 15.5 n/a Parent · Japanese GAAP
FYE Mar 2018 18.7 +20.1% Parent · Japanese GAAP
FYE Mar 2019 20.2 +8.3% Parent · Japanese GAAP
FYE Mar 2020 28.2 +39.7% Parent · Japanese GAAP
FYE Mar 2021 40.8 +44.5% Parent · Japanese GAAP
FYE Mar 2022 44.3 +8.5% Parent · Japanese GAAP
FYE Mar 2023 47.6 +7.6% Parent · Japanese GAAP
FYE Mar 2024 48.2 +1.1% Parent · Japanese GAAP
FYE Mar 2025 37.4 −22.4% Parent · Japanese GAAP
FYE Mar 2026 36.7 −1.7% Parent · 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 ¥5.4bn
Average · 10 yrs ¥5.8bn
Fiscal year FCF ¥ bn YoY Basis
FYE Mar 2017 -4.1 n/a Parent · Japanese GAAP
FYE Mar 2018 5.4 n/a Parent · Japanese GAAP
FYE Mar 2019 4.0 −25.4% Parent · Japanese GAAP
FYE Mar 2020 11.1 +176.5% Parent · Japanese GAAP
FYE Mar 2021 16.8 +51.0% Parent · Japanese GAAP
FYE Mar 2022 8.8 −47.4% Parent · Japanese GAAP
FYE Mar 2023 9.0 +2.5% Parent · Japanese GAAP
FYE Mar 2024 6.2 −31.1% Parent · Japanese GAAP
FYE Mar 2025 -5.1 −182.5% Parent · Japanese GAAP
FYE Mar 2026 5.4 n/a Parent · 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 11.7%
Average · 10 yrs 13.7%
Fiscal year OCF margin % YoY Basis
FYE Mar 2017 13.4 n/a Parent · Japanese GAAP
FYE Mar 2018 17.6 +4.2pp Parent · Japanese GAAP
FYE Mar 2019 14.4 −3.2pp Parent · Japanese GAAP
FYE Mar 2020 7.2 −7.2pp Parent · Japanese GAAP
FYE Mar 2021 20.1 +12.9pp Parent · Japanese GAAP
FYE Mar 2022 15.9 −4.3pp Parent · Japanese GAAP
FYE Mar 2023 6.9 −9.0pp Parent · Japanese GAAP
FYE Mar 2024 11.5 +4.6pp Parent · Japanese GAAP
FYE Mar 2025 18.1 +6.6pp Parent · Japanese GAAP
FYE Mar 2026 11.7 −6.4pp Parent · 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 ¥35bn
CAGR · 10 yrs +10.7%
Fiscal year Net cash ¥ bn YoY Basis
FYE Mar 2017 14.2 n/a Parent · Japanese GAAP
FYE Mar 2018 17.3 +22.0% Parent · Japanese GAAP
FYE Mar 2019 18.9 +8.9% Parent · Japanese GAAP
FYE Mar 2020 26.9 +42.5% Parent · Japanese GAAP
FYE Mar 2021 39.5 +46.8% Parent · Japanese GAAP
FYE Mar 2022 42.9 +8.8% Parent · Japanese GAAP
FYE Mar 2023 46.3 +7.8% Parent · Japanese GAAP
FYE Mar 2024 46.8 +1.2% Parent · Japanese GAAP
FYE Mar 2025 36.0 −23.1% Parent · Japanese GAAP
FYE Mar 2026 35.4 −1.8% Parent · 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

Shares outstanding

FYE Mar 2026 81,846,816shares
Change · 10 yrs +40,923,408 shares
Fiscal year Shares outstanding shares Basis
FYE Mar 2017 40,923,408 Parent
FYE Mar 2018 40,923,408 Parent
FYE Mar 2019 40,923,408 Parent
FYE Mar 2020 81,846,816 Parent
FYE Mar 2021 81,846,816 Parent
FYE Mar 2022 81,846,816 Parent
FYE Mar 2023 81,846,816 Parent
FYE Mar 2024 81,846,816 Parent
FYE Mar 2025 81,846,816 Parent
FYE Mar 2026 81,846,816 Parent
Definition
How many shares exist
Formula
Shares issued, from the key figures of the filing
Source
Securities report (XBRL)

BPS book value per share

FYE Mar 2026 1,874.92¥
Change · 10 yrs +561.39¥
Fiscal year BPS ¥ Basis
FYE Mar 2017 1,313.53 Parent · Japanese GAAP
FYE Mar 2018 1,450.95 Parent · Japanese GAAP
FYE Mar 2019 1,635.42 Parent · Japanese GAAP
FYE Mar 2020 946.93 Parent · Japanese GAAP
FYE Mar 2021 1,106.86 Parent · Japanese GAAP
FYE Mar 2022 1,265.28 Parent · Japanese GAAP
FYE Mar 2023 1,395.73 Parent · Japanese GAAP
FYE Mar 2024 1,532.47 Parent · Japanese GAAP
FYE Mar 2025 1,653.11 Parent · Japanese GAAP
FYE Mar 2026 1,874.92 Parent · Japanese GAAP
Definition
Equity behind each share
Formula
Equity ÷ shares outstanding
Source
Securities report (XBRL)

Workforce and productivity Headcount, pay and what each employee accounts for

Parent-company employees

FYE Mar 2026 440people
Change · 10 yrs +197 people
Fiscal year Parent-company employees people YoY Basis
FYE Mar 2017 243 n/a Parent
FYE Mar 2018 258 +6.2% Parent
FYE Mar 2019 266 +3.1% Parent
FYE Mar 2020 305 +14.7% Parent
FYE Mar 2021 332 +8.9% Parent
FYE Mar 2022 349 +5.1% Parent
FYE Mar 2023 365 +4.6% Parent
FYE Mar 2024 381 +4.4% Parent
FYE Mar 2025 417 +9.4% Parent
FYE Mar 2026 440 +5.5% 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 805万円
Change · 8 yrs +150万円
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 654 n/a Parent
FYE Mar 2020 695 +6.3% Parent
FYE Mar 2021 692 −0.5% Parent
FYE Mar 2022 710 +2.6% Parent
FYE Mar 2023 732 +3.1% Parent
FYE Mar 2024 757 +3.4% Parent
FYE Mar 2025 771 +1.8% Parent
FYE Mar 2026 805 +4.4% 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 37.0years
Change · 8 yrs −0.6 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 37.6 n/a Parent
FYE Mar 2020 37.3 −0.8% Parent
FYE Mar 2021 36.9 −1.1% Parent
FYE Mar 2022 36.9 −0.0% Parent
FYE Mar 2023 37.3 +1.1% Parent
FYE Mar 2024 37.1 −0.5% Parent
FYE Mar 2025 37.0 −0.3% Parent
FYE Mar 2026 37.0 −0.0% 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 11.6years
Change · 8 yrs −1.1 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 12.7 n/a Parent
FYE Mar 2020 11.8 −7.1% Parent
FYE Mar 2021 11.4 −3.4% Parent
FYE Mar 2022 11.4 −0.0% Parent
FYE Mar 2023 11.6 +1.8% Parent
FYE Mar 2024 11.6 −0.0% Parent
FYE Mar 2025 11.5 −0.9% Parent
FYE Mar 2026 11.6 +0.9% 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)

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