Financials

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

FYE Mar 2026 · Revenue¥347bnYoY +9.4%

FYE Mar 2026 · Operating profit¥30bnYoY +46.9%

FYE Mar 2026 · Net profit¥31bnYoY +30.3%

FYE Mar 2026 · Equity ratio62.6%YoY +1.0pp

FYE Mar 2026 · Group employees12,147YoY −226

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥313bn	n/a	¥22bn	n/a	6.9%	¥17bn	Tokura Toshio	Frederique Constant Holding SA acquired in July
FYE Mar 2018Consolidated	¥320bn	+2.4%	¥25bn	+15.9%	7.8%	¥19bn	Tokura Toshio	—
FYE Mar 2019Consolidated	¥322bn	+0.5%	¥22bn	−10.1%	7.0%	¥13bn	Tokura Toshio	—
FYE Mar 2020Consolidated	¥279bn	−13.4%	¥6.1bn	−72.6%	2.2%	-¥17bn	Tokura Toshio	<a class="en-history_person" href="/tse/7762/executives/ceo/sato-toshihiko/" hreflang="ja">Sato Toshihiko</a> becomes president in April
FYE Mar 2021Consolidated	¥207bn	−25.8%	-¥9.6bn	−255.7%	-4.6%	-¥25bn	Sato Toshihiko	Net loss of ¥16.7bn after impairment in the watch business
FYE Mar 2022Consolidated	¥281bn	+36.2%	¥22bn	n/a	7.9%	¥22bn	Sato Toshihiko	Pandemic year: operating loss ¥9.6bn, net loss ¥25.2bn
FYE Mar 2023Consolidated	¥301bn	+7.1%	¥24bn	+6.4%	7.9%	¥22bn	Sato Toshihiko	V-shaped recovery: operating profit ¥22.3bn, net profit ¥22.1bn
FYE Mar 2024Consolidated	¥313bn	+3.8%	¥25bn	+5.7%	8.0%	¥23bn	Sato Toshihiko	—
FYE Mar 2025Consolidated	¥317bn	+1.3%	¥21bn	−17.9%	6.5%	¥24bn	Sato Toshihiko	Revenue ¥312.8bn, operating profit ¥25.1bn
FYE Mar 2026Consolidated	¥347bn	+9.4%	¥30bn	+46.9%	8.7%	¥31bn	Sato Toshihiko	Watch segment revenue ¥177.1bn, a third straight year of growth

How it compares

Citizen Watch¥347bnFY2025Operating margin 8.7%

Seiko Group¥336bnFY2025Operating margin 9.2%Casio¥276bnFY2025Operating margin 8.4%

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 ¥347bn

CAGR · 10 yrs +1.2%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	313	n/a	Cons. · Japanese GAAP
FYE Mar 2018	320	+2.4%	Cons. · Japanese GAAP
FYE Mar 2019	322	+0.5%	Cons. · Japanese GAAP
FYE Mar 2020	279	−13.4%	Cons. · Japanese GAAP
FYE Mar 2021	207	−25.8%	Cons. · Japanese GAAP
FYE Mar 2022	281	+36.2%	Cons. · Japanese GAAP
FYE Mar 2023	301	+7.1%	Cons. · Japanese GAAP
FYE Mar 2024	313	+3.8%	Cons. · Japanese GAAP
FYE Mar 2025	317	+1.3%	Cons. · Japanese GAAP
FYE Mar 2026	347	+9.4%	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 ¥197bn

CAGR · 10 yrs +0.3%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	192	n/a	Cons. · Japanese GAAP
FYE Mar 2018	196	+1.7%	Cons. · Japanese GAAP
FYE Mar 2019	198	+1.2%	Cons. · Japanese GAAP
FYE Mar 2020	177	−10.4%	Cons. · Japanese GAAP
FYE Mar 2021	141	−20.7%	Cons. · Japanese GAAP
FYE Mar 2022	175	+24.0%	Cons. · Japanese GAAP
FYE Mar 2023	179	+2.6%	Cons. · Japanese GAAP
FYE Mar 2024	181	+1.3%	Cons. · Japanese GAAP
FYE Mar 2025	182	+0.5%	Cons. · Japanese GAAP
FYE Mar 2026	197	+8.2%	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 ¥150bn

CAGR · 10 yrs +2.5%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	120	n/a	Cons. · Japanese GAAP
FYE Mar 2018	124	+3.5%	Cons. · Japanese GAAP
FYE Mar 2019	124	−0.7%	Cons. · Japanese GAAP
FYE Mar 2020	101	−18.2%	Cons. · Japanese GAAP
FYE Mar 2021	65.9	−34.8%	Cons. · Japanese GAAP
FYE Mar 2022	107	+62.1%	Cons. · Japanese GAAP
FYE Mar 2023	122	+14.4%	Cons. · Japanese GAAP
FYE Mar 2024	131	+7.5%	Cons. · Japanese GAAP
FYE Mar 2025	135	+2.4%	Cons. · Japanese GAAP
FYE Mar 2026	150	+11.1%	Cons. · Japanese GAAP

Definition: What the product or service itself earns
Formula: Revenue − cost of sales
Source: Securities report (XBRL)

SG&A selling, general and administrative expenses

FYE Mar 2026 ¥119bn

CAGR · 10 yrs +2.1%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	98.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	99.5	+0.7%	Cons. · Japanese GAAP
FYE Mar 2019	101	+1.7%	Cons. · Japanese GAAP
FYE Mar 2020	95.0	−6.1%	Cons. · Japanese GAAP
FYE Mar 2021	75.5	−20.5%	Cons. · Japanese GAAP
FYE Mar 2022	84.6	+12.1%	Cons. · Japanese GAAP
FYE Mar 2023	98.5	+16.4%	Cons. · Japanese GAAP
FYE Mar 2024	106	+8.0%	Cons. · Japanese GAAP
FYE Mar 2025	114	+7.2%	Cons. · Japanese GAAP
FYE Mar 2026	119	+4.7%	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 ¥30bn

CAGR · 10 yrs +3.9%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	21.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.9	+15.9%	Cons. · Japanese GAAP
FYE Mar 2019	22.4	−10.1%	Cons. · Japanese GAAP
FYE Mar 2020	6.1	−72.6%	Cons. · Japanese GAAP
FYE Mar 2021	-9.6	−255.7%	Cons. · Japanese GAAP
FYE Mar 2022	22.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	23.7	+6.4%	Cons. · Japanese GAAP
FYE Mar 2024	25.1	+5.7%	Cons. · Japanese GAAP
FYE Mar 2025	20.6	−17.9%	Cons. · Japanese GAAP
FYE Mar 2026	30.3	+46.9%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥9.3bn

CAGR · 10 yrs +13.4%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.7	+23.1%	Cons. · Japanese GAAP
FYE Mar 2019	5.2	+42.4%	Cons. · Japanese GAAP
FYE Mar 2020	3.5	−33.9%	Cons. · Japanese GAAP
FYE Mar 2021	6.5	+87.9%	Cons. · Japanese GAAP
FYE Mar 2022	5.8	−10.7%	Cons. · Japanese GAAP
FYE Mar 2023	6.2	+7.6%	Cons. · Japanese GAAP
FYE Mar 2024	7.4	+18.6%	Cons. · Japanese GAAP
FYE Mar 2025	4.1	−44.4%	Cons. · Japanese GAAP
FYE Mar 2026	9.3	+124.9%	Cons. · Japanese GAAP

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

Non-operating expenses

FYE Mar 2026 ¥1.1bn

CAGR · 10 yrs −9.1%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	2.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.9	−22.8%	Cons. · Japanese GAAP
FYE Mar 2019	1.0	−46.1%	Cons. · Japanese GAAP
FYE Mar 2020	2.1	+98.2%	Cons. · Japanese GAAP
FYE Mar 2021	1.1	−47.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.7	−32.8%	Cons. · Japanese GAAP
FYE Mar 2023	0.9	+17.0%	Cons. · Japanese GAAP
FYE Mar 2024	1.7	+94.2%	Cons. · Japanese GAAP
FYE Mar 2025	1.7	+1.2%	Cons. · Japanese GAAP
FYE Mar 2026	1.1	−37.0%	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 ¥38bn

CAGR · 10 yrs +6.4%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	22.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.7	+21.3%	Cons. · Japanese GAAP
FYE Mar 2019	26.6	−0.2%	Cons. · Japanese GAAP
FYE Mar 2020	7.5	−71.7%	Cons. · Japanese GAAP
FYE Mar 2021	-4.1	−155.0%	Cons. · Japanese GAAP
FYE Mar 2022	27.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	29.1	+6.4%	Cons. · Japanese GAAP
FYE Mar 2024	30.8	+5.9%	Cons. · Japanese GAAP
FYE Mar 2025	23.0	−25.3%	Cons. · Japanese GAAP
FYE Mar 2026	38.5	+67.0%	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 ¥6.1bn

CAGR · 10 yrs +2.6%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	4.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.0	−17.7%	Cons. · Japanese GAAP
FYE Mar 2019	2.8	−30.3%	Cons. · Japanese GAAP
FYE Mar 2020	1.9	−30.9%	Cons. · Japanese GAAP
FYE Mar 2021	2.8	+42.3%	Cons. · Japanese GAAP
FYE Mar 2022	1.2	−55.8%	Cons. · Japanese GAAP
FYE Mar 2023	3.7	+204.6%	Cons. · Japanese GAAP
FYE Mar 2024	1.0	−72.4%	Cons. · Japanese GAAP
FYE Mar 2025	8.2	+703.9%	Cons. · Japanese GAAP
FYE Mar 2026	6.1	−25.6%	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 ¥31bn

CAGR · 10 yrs +7.2%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	16.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.3	+16.5%	Cons. · Japanese GAAP
FYE Mar 2019	13.4	−30.7%	Cons. · Japanese GAAP
FYE Mar 2020	-16.7	−224.7%	Cons. · Japanese GAAP
FYE Mar 2021	-25.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	22.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	21.8	−1.4%	Cons. · Japanese GAAP
FYE Mar 2024	23.0	+5.1%	Cons. · Japanese GAAP
FYE Mar 2025	23.9	+4.0%	Cons. · Japanese GAAP
FYE Mar 2026	31.1	+30.3%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 43.1%

Average · 10 yrs 39.0%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	38.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	38.9	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	38.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	36.3	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2021	31.9	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2022	38.0	+6.1pp	Cons. · Japanese GAAP
FYE Mar 2023	40.5	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2024	42.0	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	42.5	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	43.1	+0.7pp	Cons. · Japanese GAAP

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

Operating margin

FYE Mar 2026 8.7%

Average · 10 yrs 5.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	6.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.8	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	7.0	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	2.2	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2021	-4.6	−6.8pp	Cons. · Japanese GAAP
FYE Mar 2022	7.9	+12.5pp	Cons. · Japanese GAAP
FYE Mar 2023	7.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	8.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	6.5	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	8.7	+2.2pp	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 11.1%

Average · 10 yrs 7.2%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.3	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	8.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	2.7	−5.6pp	Cons. · Japanese GAAP
FYE Mar 2021	-2.0	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2022	9.7	+11.7pp	Cons. · Japanese GAAP
FYE Mar 2023	9.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	9.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	7.3	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2026	11.1	+3.8pp	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 9.0%

Average · 10 yrs 3.6%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	4.2	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2020	-6.0	−10.1pp	Cons. · Japanese GAAP
FYE Mar 2021	-12.2	−6.2pp	Cons. · Japanese GAAP
FYE Mar 2022	7.9	+20.0pp	Cons. · Japanese GAAP
FYE Mar 2023	7.2	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	7.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	7.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	9.0	+1.4pp	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 56.9%

Average · 10 yrs 61.0%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	61.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	61.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	61.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	63.7	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2021	68.1	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2022	62.0	−6.1pp	Cons. · Japanese GAAP
FYE Mar 2023	59.5	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2024	58.0	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	57.5	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	56.9	−0.7pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by the cost of sales
Formula: Cost of sales ÷ revenue
Source: Securities report (XBRL)

SG&A ratio

FYE Mar 2026 34.4%

Average · 10 yrs 33.2%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	31.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	31.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	31.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	34.1	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2021	36.5	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2022	30.0	−6.5pp	Cons. · Japanese GAAP
FYE Mar 2023	32.7	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2024	34.0	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	36.0	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	34.4	−1.6pp	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 ¥468bn

CAGR · 10 yrs +1.9%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	396	n/a	Cons. · Japanese GAAP
FYE Mar 2018	410	+3.5%	Cons. · Japanese GAAP
FYE Mar 2019	414	+1.0%	Cons. · Japanese GAAP
FYE Mar 2020	370	−10.7%	Cons. · Japanese GAAP
FYE Mar 2021	366	−1.0%	Cons. · Japanese GAAP
FYE Mar 2022	395	+8.0%	Cons. · Japanese GAAP
FYE Mar 2023	390	−1.3%	Cons. · Japanese GAAP
FYE Mar 2024	415	+6.5%	Cons. · Japanese GAAP
FYE Mar 2025	416	−0.0%	Cons. · Japanese GAAP
FYE Mar 2026	468	+12.7%	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 ¥293bn

CAGR · 10 yrs +2.3%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	239	n/a	Cons. · Japanese GAAP
FYE Mar 2018	254	+6.1%	Cons. · Japanese GAAP
FYE Mar 2019	257	+1.4%	Cons. · Japanese GAAP
FYE Mar 2020	222	−13.9%	Cons. · Japanese GAAP
FYE Mar 2021	204	−8.0%	Cons. · Japanese GAAP
FYE Mar 2022	229	+12.4%	Cons. · Japanese GAAP
FYE Mar 2023	224	−2.2%	Cons. · Japanese GAAP
FYE Mar 2024	248	+10.5%	Cons. · Japanese GAAP
FYE Mar 2025	256	+3.3%	Cons. · Japanese GAAP
FYE Mar 2026	293	+14.6%	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 ¥47bn

CAGR · 10 yrs +4.0%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	33.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.0	+18.1%	Cons. · Japanese GAAP
FYE Mar 2019	41.1	+5.2%	Cons. · Japanese GAAP
FYE Mar 2020	45.2	+10.0%	Cons. · Japanese GAAP
FYE Mar 2021	64.9	+43.6%	Cons. · Japanese GAAP
FYE Mar 2022	56.2	−13.4%	Cons. · Japanese GAAP
FYE Mar 2023	55.1	−1.9%	Cons. · Japanese GAAP
FYE Mar 2024	52.5	−4.7%	Cons. · Japanese GAAP
FYE Mar 2025	52.2	−0.6%	Cons. · Japanese GAAP
FYE Mar 2026	47.0	−9.9%	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 ¥10bn

CAGR · 10 yrs +6.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.9	+17.6%	Cons. · Japanese GAAP
FYE Mar 2019	14.0	+103.3%	Cons. · Japanese GAAP
FYE Mar 2020	17.2	+23.2%	Cons. · Japanese GAAP
FYE Mar 2021	9.6	−44.0%	Cons. · Japanese GAAP
FYE Mar 2022	4.8	−50.5%	Cons. · Japanese GAAP
FYE Mar 2023	3.8	−20.7%	Cons. · Japanese GAAP
FYE Mar 2024	10.1	+166.1%	Cons. · Japanese GAAP
FYE Mar 2025	15.2	+50.6%	Cons. · Japanese GAAP
FYE Mar 2026	10.0	−34.1%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Mar 2026 ¥37bn

CAGR · 10 yrs +3.5%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	27.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.1	+18.3%	Cons. · Japanese GAAP
FYE Mar 2019	27.1	−15.8%	Cons. · Japanese GAAP
FYE Mar 2020	27.9	+3.1%	Cons. · Japanese GAAP
FYE Mar 2021	55.2	+97.7%	Cons. · Japanese GAAP
FYE Mar 2022	51.4	−6.9%	Cons. · Japanese GAAP
FYE Mar 2023	51.3	−0.1%	Cons. · Japanese GAAP
FYE Mar 2024	42.4	−17.3%	Cons. · Japanese GAAP
FYE Mar 2025	37.0	−12.7%	Cons. · Japanese GAAP
FYE Mar 2026	37.0	−0.0%	Cons. · Japanese GAAP

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

CAGR · 9 yrs −8.3%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	20.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.0	−50.0%	Cons. · Japanese GAAP
FYE Mar 2019	10.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	10.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	10.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	10.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	10.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2024	10.1	+0.5%	Cons. · Japanese GAAP
FYE Mar 2025	10.0	−0.5%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

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

Intangible assets

FYE Mar 2026 ¥7.9bn

CAGR · 10 yrs −5.9%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	13.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.1	−11.4%	Cons. · Japanese GAAP
FYE Mar 2019	8.7	−27.5%	Cons. · Japanese GAAP
FYE Mar 2020	4.6	−47.9%	Cons. · Japanese GAAP
FYE Mar 2021	4.7	+2.2%	Cons. · Japanese GAAP
FYE Mar 2022	4.8	+3.9%	Cons. · Japanese GAAP
FYE Mar 2023	4.8	−1.7%	Cons. · Japanese GAAP
FYE Mar 2024	5.2	+9.6%	Cons. · Japanese GAAP
FYE Mar 2025	6.5	+25.3%	Cons. · Japanese GAAP
FYE Mar 2026	7.9	+20.8%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 62.6%

Average · 10 yrs 60.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	60.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	61.9	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	62.2	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	60.0	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2021	55.8	−4.2pp	Cons. · Japanese GAAP
FYE Mar 2022	58.1	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	57.5	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	59.6	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2025	61.6	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	62.6	+1.0pp	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 16.0%

Average · 10 yrs 20.4%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	13.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.4	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	16.0	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	20.4	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2021	31.8	+11.4pp	Cons. · Japanese GAAP
FYE Mar 2022	24.5	−7.3pp	Cons. · Japanese GAAP
FYE Mar 2023	24.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	21.2	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2025	20.4	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	16.0	−4.4pp	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 10.6%

Average · 10 yrs 4.8%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	6.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.6	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	5.2	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2020	-7.5	−12.7pp	Cons. · Japanese GAAP
FYE Mar 2021	-12.3	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2022	9.7	+22.0pp	Cons. · Japanese GAAP
FYE Mar 2023	9.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	9.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	9.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	10.6	+1.3pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 6.6%

Average · 10 yrs 3.0%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.7	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	3.2	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	-4.5	−7.7pp	Cons. · Japanese GAAP
FYE Mar 2021	-6.9	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2022	5.6	+12.5pp	Cons. · Japanese GAAP
FYE Mar 2023	5.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	5.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	5.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	6.6	+0.9pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.74×

CAGR · 10 yrs −0.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.79	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.78	−1.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.78	−0.5%	Cons. · Japanese GAAP
FYE Mar 2020	0.75	−3.0%	Cons. · Japanese GAAP
FYE Mar 2021	0.56	−25.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.71	+26.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.77	+8.5%	Cons. · Japanese GAAP
FYE Mar 2024	0.75	−2.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.76	+1.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.74	−2.9%	Cons. · Japanese GAAP

Definition: How much revenue each yen of assets produces
Formula: Revenue ÷ total assets
Source: Securities report (XBRL)

Cash flow statement Cash from operations, investment and financing, and what is left on hand

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥39bn

CAGR · 10 yrs +1.9%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	32.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.5	−0.7%	Cons. · Japanese GAAP
FYE Mar 2019	19.9	−38.9%	Cons. · Japanese GAAP
FYE Mar 2020	17.3	−12.8%	Cons. · Japanese GAAP
FYE Mar 2021	7.5	−56.8%	Cons. · Japanese GAAP
FYE Mar 2022	34.7	+363.3%	Cons. · Japanese GAAP
FYE Mar 2023	16.6	−52.2%	Cons. · Japanese GAAP
FYE Mar 2024	34.6	+108.5%	Cons. · Japanese GAAP
FYE Mar 2025	35.8	+3.5%	Cons. · Japanese GAAP
FYE Mar 2026	38.8	+8.5%	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 -¥15bn

Average · 10 yrs -¥14bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-27.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-19.9	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-15.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-9.6	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-13.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-12.7	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-10.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-15.5	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 -¥18bn

Average · 10 yrs -¥14bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-20.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-11.7	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-5.9	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	18.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-20.0	−208.8%	Cons. · Japanese GAAP
FYE Mar 2023	-40.1	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-27.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-12.5	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-17.7	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 ¥104bn

CAGR · 10 yrs +3.3%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	77.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	90.7	+16.4%	Cons. · Japanese GAAP
FYE Mar 2019	84.5	−6.8%	Cons. · Japanese GAAP
FYE Mar 2020	78.0	−7.7%	Cons. · Japanese GAAP
FYE Mar 2021	99.6	+27.6%	Cons. · Japanese GAAP
FYE Mar 2022	111	+11.7%	Cons. · Japanese GAAP
FYE Mar 2023	79.2	−28.8%	Cons. · Japanese GAAP
FYE Mar 2024	80.3	+1.4%	Cons. · Japanese GAAP
FYE Mar 2025	92.6	+15.3%	Cons. · Japanese GAAP
FYE Mar 2026	104	+12.3%	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 +18.9%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	4.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.7	+401.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.0	−99.9%	Cons. · Japanese GAAP
FYE Mar 2020	1.8	+5036.1%	Cons. · Japanese GAAP
FYE Mar 2021	-0.1	−107.5%	Cons. · Japanese GAAP
FYE Mar 2022	25.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	3.1	−87.9%	Cons. · Japanese GAAP
FYE Mar 2024	21.9	+617.0%	Cons. · Japanese GAAP
FYE Mar 2025	25.7	+17.7%	Cons. · Japanese GAAP
FYE Mar 2026	23.3	−9.3%	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 11.2%

Average · 10 yrs 8.8%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	6.2	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2020	6.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	3.6	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	12.3	+8.7pp	Cons. · Japanese GAAP
FYE Mar 2023	5.5	−6.8pp	Cons. · Japanese GAAP
FYE Mar 2024	11.0	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2025	11.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	11.2	−0.1pp	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 ¥57bn

CAGR · 10 yrs +2.7%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	44.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	51.6	+15.1%	Cons. · Japanese GAAP
FYE Mar 2019	43.5	−15.8%	Cons. · Japanese GAAP
FYE Mar 2020	32.8	−24.5%	Cons. · Japanese GAAP
FYE Mar 2021	34.7	+5.7%	Cons. · Japanese GAAP
FYE Mar 2022	55.1	+58.7%	Cons. · Japanese GAAP
FYE Mar 2023	24.1	−56.3%	Cons. · Japanese GAAP
FYE Mar 2024	27.8	+15.5%	Cons. · Japanese GAAP
FYE Mar 2025	40.4	+45.1%	Cons. · Japanese GAAP
FYE Mar 2026	57.0	+41.0%	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 ¥410bn

Change · 8 yrs +¥181bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	229	n/a
FYE Mar 2018	245	n/a
FYE Mar 2019	198	n/a
FYE Mar 2020	n/a	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	164	n/a
FYE Mar 2023	229	n/a
FYE Mar 2024	244	n/a
FYE Mar 2025	219	n/a
FYE Mar 2026	410	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 1,665¥

Change · 8 yrs +951¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	714	n/a
FYE Mar 2018	764	n/a
FYE Mar 2019	617	n/a
FYE Mar 2020	n/a	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	521	n/a
FYE Mar 2023	778	n/a
FYE Mar 2024	991	n/a
FYE Mar 2025	892	n/a
FYE Mar 2026	1,665	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 246,000,000shares

Change · 10 yrs −74,353,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	320,353,000	Parent
FYE Mar 2018	320,353,000	Parent
FYE Mar 2019	320,353,000	Parent
FYE Mar 2020	314,353,000	Parent
FYE Mar 2021	314,353,000	Parent
FYE Mar 2022	314,353,000	Parent
FYE Mar 2023	294,000,000	Parent
FYE Mar 2024	246,000,000	Parent
FYE Mar 2025	246,000,000	Parent
FYE Mar 2026	246,000,000	Parent

Definition: How many shares exist
Formula: Shares issued, from the key figures of the filing
Source: Securities report (XBRL)

EPS earnings per share

FYE Mar 2026 127.48¥

Change · 10 yrs +75.41¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	52.07	Cons.
FYE Mar 2018	60.65	Cons.
FYE Mar 2019	42.00	Cons.
FYE Mar 2020	-53.07	Cons.
FYE Mar 2021	-80.52	Cons.
FYE Mar 2022	71.38	Cons.
FYE Mar 2023	75.25	Cons.
FYE Mar 2024	93.60	Cons.
FYE Mar 2025	97.91	Cons.
FYE Mar 2026	127.48	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 1,191.80¥

Change · 10 yrs +444.44¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	747.36	Cons. · Japanese GAAP
FYE Mar 2018	792.60	Cons. · Japanese GAAP
FYE Mar 2019	803.64	Cons. · Japanese GAAP
FYE Mar 2020	705.34	Cons. · Japanese GAAP
FYE Mar 2021	648.91	Cons. · Japanese GAAP
FYE Mar 2022	729.45	Cons. · Japanese GAAP
FYE Mar 2023	762.51	Cons. · Japanese GAAP
FYE Mar 2024	1,006.74	Cons. · Japanese GAAP
FYE Mar 2025	1,040.32	Cons. · Japanese GAAP
FYE Mar 2026	1,191.80	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 13.06×

Average · 8 yrs 11.43×

Fiscal year	PER ×	Basis
FYE Mar 2017	13.71	Cons.
FYE Mar 2018	12.60	Cons.
FYE Mar 2019	14.69	Cons.
FYE Mar 2020	n/a	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	7.30	Cons.
FYE Mar 2023	10.34	Cons.
FYE Mar 2024	10.59	Cons.
FYE Mar 2025	9.11	Cons.
FYE Mar 2026	13.06	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 1.39×

Average · 8 yrs 0.93×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.95	Cons.
FYE Mar 2018	0.96	Cons.
FYE Mar 2019	0.76	Cons.
FYE Mar 2020	n/a	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	0.68	Cons.
FYE Mar 2023	0.90	Cons.
FYE Mar 2024	0.98	Cons.
FYE Mar 2025	0.85	Cons.
FYE Mar 2026	1.39	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 12,147people

Change · 10 yrs −4,023 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	16,170	n/a	Cons.
FYE Mar 2018	16,015	−1.0%	Cons.
FYE Mar 2019	14,909	−6.9%	Cons.
FYE Mar 2020	15,024	+0.8%	Cons.
FYE Mar 2021	13,530	−9.9%	Cons.
FYE Mar 2022	12,549	−7.3%	Cons.
FYE Mar 2023	12,256	−2.3%	Cons.
FYE Mar 2024	11,935	−2.6%	Cons.
FYE Mar 2025	12,373	+3.7%	Cons.
FYE Mar 2026	12,147	−1.8%	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 770people

Change · 10 yrs −117 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	887	n/a	Parent
FYE Mar 2018	894	+0.8%	Parent
FYE Mar 2019	895	+0.1%	Parent
FYE Mar 2020	899	+0.4%	Parent
FYE Mar 2021	866	−3.7%	Parent
FYE Mar 2022	810	−6.5%	Parent
FYE Mar 2023	762	−5.9%	Parent
FYE Mar 2024	740	−2.9%	Parent
FYE Mar 2025	788	+6.5%	Parent
FYE Mar 2026	770	−2.3%	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 ¥7.9m

Change · 10 yrs +¥1.1m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	6.8	n/a	Parent
FYE Mar 2018	7.2	+5.1%	Parent
FYE Mar 2019	7.0	−1.7%	Parent
FYE Mar 2020	6.8	−3.8%	Parent
FYE Mar 2021	5.9	−12.2%	Parent
FYE Mar 2022	6.4	+8.5%	Parent
FYE Mar 2023	7.1	+10.8%	Parent
FYE Mar 2024	7.5	+4.5%	Parent
FYE Mar 2025	7.7	+2.9%	Parent
FYE Mar 2026	7.9	+2.9%	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 43.9years

Change · 8 yrs +1.0 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	42.9	n/a	Parent
FYE Mar 2020	43.2	+0.7%	Parent
FYE Mar 2021	43.8	+1.4%	Parent
FYE Mar 2022	44.1	+0.7%	Parent
FYE Mar 2023	43.4	−1.6%	Parent
FYE Mar 2024	44.3	+2.1%	Parent
FYE Mar 2025	44.0	−0.7%	Parent
FYE Mar 2026	43.9	−0.2%	Parent

Definition: Average age of the parent company's employees
Formula: Average age, from the employee section of the filing
Source: Securities report (XBRL)

Average length of service

FYE Mar 2026 17.4years

Change · 10 yrs +0.3 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	17.1	n/a	Parent
FYE Mar 2018	17.9	+4.9%	Parent
FYE Mar 2019	17.1	−4.5%	Parent
FYE Mar 2020	17.1	−0.0%	Parent
FYE Mar 2021	17.7	+3.5%	Parent
FYE Mar 2022	18.6	+5.1%	Parent
FYE Mar 2023	18.8	+1.1%	Parent
FYE Mar 2024	18.5	−1.6%	Parent
FYE Mar 2025	18.1	−2.2%	Parent
FYE Mar 2026	17.4	−3.9%	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)

Temporary employees

FYE Mar 2026 2,016people

Change · 10 yrs −3,093 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	5,109	n/a	n/a
FYE Mar 2018	4,867	−4.7%	n/a
FYE Mar 2019	5,330	+9.5%	n/a
FYE Mar 2020	4,569	−14.3%	n/a
FYE Mar 2021	3,514	−23.1%	n/a
FYE Mar 2022	3,612	+2.8%	n/a
FYE Mar 2023	3,146	−12.9%	n/a
FYE Mar 2024	2,882	−8.4%	n/a
FYE Mar 2025	2,079	−27.9%	n/a
FYE Mar 2026	2,016	−3.0%	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 ¥28.6m

Change · 10 yrs +¥9.2m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	19.3	n/a	Cons.
FYE Mar 2018	20.0	+3.4%	Cons.
FYE Mar 2019	21.6	+8.0%	Cons.
FYE Mar 2020	18.5	−14.1%	Cons.
FYE Mar 2021	15.3	−17.6%	Cons.
FYE Mar 2022	22.4	+46.8%	Cons.
FYE Mar 2023	24.6	+9.6%	Cons.
FYE Mar 2024	26.2	+6.6%	Cons.
FYE Mar 2025	25.6	−2.3%	Cons.
FYE Mar 2026	28.6	+11.5%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥2.5m

Change · 10 yrs +¥1.2m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	1.3	n/a	Cons.
FYE Mar 2018	1.6	+17.0%	Cons.
FYE Mar 2019	1.5	−3.4%	Cons.
FYE Mar 2020	0.4	−72.8%	Cons.
FYE Mar 2021	-0.7	−272.8%	Cons.
FYE Mar 2022	1.8	n/a	Cons.
FYE Mar 2023	1.9	+9.0%	Cons.
FYE Mar 2024	2.1	+8.6%	Cons.
FYE Mar 2025	1.7	−20.8%	Cons.
FYE Mar 2026	2.5	+49.6%	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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