Financials

Pilot Corporation: FYE Dec 2025 and ten years of results (50 metrics)

FYE Dec 2025 · Revenue¥126bnYoY +0.2%

FYE Dec 2025 · Operating profit¥17bnYoY −6.5%

FYE Dec 2025 · Net profit¥12bnYoY −20.5%

FYE Dec 2025 · Equity ratio80.8%YoY +1.7pp

FYE Dec 2025 · Group employees3,175YoY +210

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Dec 2016Consolidated	¥98bn	n/a	¥21bn	n/a	21.4%	¥14bn	Watanabe Hiroki	—
FYE Dec 2017Consolidated	¥104bn	+5.9%	¥20bn	−4.9%	19.2%	¥15bn	Watanabe Hiroki	—
FYE Dec 2018Consolidated	¥104bn	−0.1%	¥21bn	+4.8%	20.1%	¥15bn	Ito Shu	—
FYE Dec 2019Consolidated	¥104bn	−0.3%	¥19bn	−8.6%	18.5%	¥13bn	Ito Shu	New head-office building
FYE Dec 2020Consolidated	¥87bn	−16.0%	¥14bn	−26.1%	16.2%	¥9.9bn	Ito Shu	—
FYE Dec 2021Consolidated	¥103bn	+18.3%	¥19bn	+36.7%	18.8%	¥14bn	Ito Shu	Pilot Ink’s toy business folded into the parent
FYE Dec 2022Consolidated	¥113bn	+9.5%	¥21bn	+9.9%	18.8%	¥16bn	Ito Shu	Moves to the TSE Prime market
FYE Dec 2023Consolidated	¥119bn	+5.1%	¥19bn	−10.5%	16.0%	¥14bn	Ito Shu	Takes a 69.7% stake in Marks; Miyoshi ink plant opens
FYE Dec 2024Consolidated	¥126bn	+6.4%	¥18bn	−6.3%	14.1%	¥15bn	Ito Shu	Fumio Fujisaki becomes the seventeenth president
FYE Dec 2025Consolidated	¥126bn	+0.2%	¥17bn	−6.5%	13.2%	¥12bn	Fujisaki Fumio	Marks absorbed; new 2025–2027 medium-term plan begins

How it compares

KOKUYO Co., Ltd.¥360bnFY2025Operating margin 7.3%

Okamura¥329bnFY2025Operating margin 7.3%

Pilot Corporation¥126bnFY2025Operating margin 13.2%

MITSUBISHI PENCIL COMPANY, LIMITED¥90bnFY2025Operating margin 10.8%

The Sailor Pen Co., Ltd.¥4bnFY2025Operating 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 Dec 2025 ¥126bn

CAGR · 10 yrs +2.8%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Dec 2016	98.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	104	+5.9%	Cons. · Japanese GAAP
FYE Dec 2018	104	−0.1%	Cons. · Japanese GAAP
FYE Dec 2019	104	−0.3%	Cons. · Japanese GAAP
FYE Dec 2020	87.1	−16.0%	Cons. · Japanese GAAP
FYE Dec 2021	103	+18.3%	Cons. · Japanese GAAP
FYE Dec 2022	113	+9.5%	Cons. · Japanese GAAP
FYE Dec 2023	119	+5.1%	Cons. · Japanese GAAP
FYE Dec 2024	126	+6.4%	Cons. · Japanese GAAP
FYE Dec 2025	126	+0.2%	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 Dec 2025 ¥62bn

CAGR · 10 yrs +3.5%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Dec 2016	45.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	50.1	+9.8%	Cons. · Japanese GAAP
FYE Dec 2018	47.6	−4.9%	Cons. · Japanese GAAP
FYE Dec 2019	48.8	+2.5%	Cons. · Japanese GAAP
FYE Dec 2020	41.9	−14.2%	Cons. · Japanese GAAP
FYE Dec 2021	48.9	+16.7%	Cons. · Japanese GAAP
FYE Dec 2022	52.7	+7.9%	Cons. · Japanese GAAP
FYE Dec 2023	56.7	+7.5%	Cons. · Japanese GAAP
FYE Dec 2024	61.4	+8.3%	Cons. · Japanese GAAP
FYE Dec 2025	61.9	+0.8%	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 Dec 2025 ¥64bn

CAGR · 10 yrs +2.2%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Dec 2016	52.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	54.1	+2.5%	Cons. · Japanese GAAP
FYE Dec 2018	56.4	+4.4%	Cons. · Japanese GAAP
FYE Dec 2019	54.9	−2.7%	Cons. · Japanese GAAP
FYE Dec 2020	45.2	−17.6%	Cons. · Japanese GAAP
FYE Dec 2021	54.2	+19.8%	Cons. · Japanese GAAP
FYE Dec 2022	60.1	+10.9%	Cons. · Japanese GAAP
FYE Dec 2023	61.9	+2.9%	Cons. · Japanese GAAP
FYE Dec 2024	64.7	+4.6%	Cons. · Japanese GAAP
FYE Dec 2025	64.4	−0.4%	Cons. · Japanese GAAP

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

SG&A selling, general and administrative expenses

FYE Dec 2025 ¥48bn

CAGR · 10 yrs +4.6%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Dec 2016	31.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	34.1	+7.3%	Cons. · Japanese GAAP
FYE Dec 2018	35.5	+4.1%	Cons. · Japanese GAAP
FYE Dec 2019	35.8	+0.8%	Cons. · Japanese GAAP
FYE Dec 2020	31.1	−13.0%	Cons. · Japanese GAAP
FYE Dec 2021	34.9	+12.1%	Cons. · Japanese GAAP
FYE Dec 2022	38.9	+11.5%	Cons. · Japanese GAAP
FYE Dec 2023	42.9	+10.3%	Cons. · Japanese GAAP
FYE Dec 2024	46.9	+9.4%	Cons. · Japanese GAAP
FYE Dec 2025	47.8	+1.9%	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 Dec 2025 ¥17bn

CAGR · 10 yrs −2.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Dec 2016	21.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	20.0	−4.9%	Cons. · Japanese GAAP
FYE Dec 2018	20.9	+4.8%	Cons. · Japanese GAAP
FYE Dec 2019	19.1	−8.6%	Cons. · Japanese GAAP
FYE Dec 2020	14.1	−26.1%	Cons. · Japanese GAAP
FYE Dec 2021	19.3	+36.7%	Cons. · Japanese GAAP
FYE Dec 2022	21.2	+9.9%	Cons. · Japanese GAAP
FYE Dec 2023	19.0	−10.5%	Cons. · Japanese GAAP
FYE Dec 2024	17.8	−6.3%	Cons. · Japanese GAAP
FYE Dec 2025	16.6	−6.5%	Cons. · Japanese GAAP

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

Non-operating income

FYE Dec 2025 ¥1.6bn

CAGR · 10 yrs +4.5%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Dec 2016	1.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.0	−1.3%	Cons. · Japanese GAAP
FYE Dec 2018	0.9	−17.6%	Cons. · Japanese GAAP
FYE Dec 2019	0.9	+6.1%	Cons. · Japanese GAAP
FYE Dec 2020	0.8	−13.8%	Cons. · Japanese GAAP
FYE Dec 2021	1.2	+59.8%	Cons. · Japanese GAAP
FYE Dec 2022	1.6	+26.4%	Cons. · Japanese GAAP
FYE Dec 2023	2.1	+34.9%	Cons. · Japanese GAAP
FYE Dec 2024	2.6	+20.5%	Cons. · Japanese GAAP
FYE Dec 2025	1.6	−38.9%	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 Dec 2025 ¥0.4bn

CAGR · 10 yrs −10.9%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Dec 2016	1.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.4	−55.8%	Cons. · Japanese GAAP
FYE Dec 2018	0.8	+73.3%	Cons. · Japanese GAAP
FYE Dec 2019	0.8	+7.2%	Cons. · Japanese GAAP
FYE Dec 2020	0.6	−32.2%	Cons. · Japanese GAAP
FYE Dec 2021	0.2	−63.3%	Cons. · Japanese GAAP
FYE Dec 2022	0.2	−11.2%	Cons. · Japanese GAAP
FYE Dec 2023	0.3	+54.6%	Cons. · Japanese GAAP
FYE Dec 2024	0.3	−11.7%	Cons. · Japanese GAAP
FYE Dec 2025	0.4	+42.0%	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 Dec 2025 ¥18bn

CAGR · 10 yrs −1.8%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Dec 2016	21.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	20.6	−2.3%	Cons. · Japanese GAAP
FYE Dec 2018	21.0	+2.2%	Cons. · Japanese GAAP
FYE Dec 2019	19.2	−8.5%	Cons. · Japanese GAAP
FYE Dec 2020	14.4	−25.3%	Cons. · Japanese GAAP
FYE Dec 2021	20.4	+41.8%	Cons. · Japanese GAAP
FYE Dec 2022	22.6	+11.2%	Cons. · Japanese GAAP
FYE Dec 2023	20.8	−7.9%	Cons. · Japanese GAAP
FYE Dec 2024	20.1	−3.5%	Cons. · Japanese GAAP
FYE Dec 2025	17.9	−11.2%	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 Dec 2025 ¥1.3bn

CAGR · 10 yrs +30.0%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Dec 2016	0.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	2.5	+1906.3%	Cons. · Japanese GAAP
FYE Dec 2018	0.4	−83.2%	Cons. · Japanese GAAP
FYE Dec 2019	0.0	−91.7%	Cons. · Japanese GAAP
FYE Dec 2020	0.5	+1391.4%	Cons. · Japanese GAAP
FYE Dec 2021	0.2	−55.7%	Cons. · Japanese GAAP
FYE Dec 2022	0.5	+113.4%	Cons. · Japanese GAAP
FYE Dec 2023	1.0	+106.3%	Cons. · Japanese GAAP
FYE Dec 2024	1.6	+57.7%	Cons. · Japanese GAAP
FYE Dec 2025	1.3	−16.6%	Cons. · Japanese GAAP

Definition: One-off gains, such as an asset sale
Formula: Extraordinary income line of the income statement
Source: Securities report (XBRL)

Extraordinary loss

FYE Dec 2025 n/a

CAGR · 4 yrs +132.3%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Dec 2016	0.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2019	0.0	n/a	Cons. · Japanese GAAP
FYE Dec 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2022	0.5	n/a	Cons. · Japanese GAAP
FYE Dec 2023	1.6	+232.0%	Cons. · Japanese GAAP
FYE Dec 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2025	n/a	n/a	Cons. · 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 Dec 2025 ¥12bn

CAGR · 10 yrs −2.0%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Dec 2016	14.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	15.5	+7.2%	Cons. · Japanese GAAP
FYE Dec 2018	14.6	−5.9%	Cons. · Japanese GAAP
FYE Dec 2019	13.3	−9.0%	Cons. · Japanese GAAP
FYE Dec 2020	9.9	−25.2%	Cons. · Japanese GAAP
FYE Dec 2021	14.3	+43.7%	Cons. · Japanese GAAP
FYE Dec 2022	15.8	+10.5%	Cons. · Japanese GAAP
FYE Dec 2023	13.7	−13.4%	Cons. · Japanese GAAP
FYE Dec 2024	15.2	+11.1%	Cons. · Japanese GAAP
FYE Dec 2025	12.1	−20.5%	Cons. · Japanese GAAP

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

Gross margin

FYE Dec 2025 51.0%

Average · 10 yrs 52.5%

Fiscal year	Gross margin %	YoY	Basis
FYE Dec 2016	53.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	51.9	−1.7pp	Cons. · Japanese GAAP
FYE Dec 2018	54.2	+2.3pp	Cons. · Japanese GAAP
FYE Dec 2019	52.9	−1.3pp	Cons. · Japanese GAAP
FYE Dec 2020	51.9	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2021	52.6	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2022	53.3	+0.7pp	Cons. · Japanese GAAP
FYE Dec 2023	52.2	−1.1pp	Cons. · Japanese GAAP
FYE Dec 2024	51.3	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2025	51.0	−0.3pp	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 Dec 2025 13.2%

Average · 10 yrs 17.6%

Fiscal year	Operating margin %	YoY	Basis
FYE Dec 2016	21.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	19.2	−2.2pp	Cons. · Japanese GAAP
FYE Dec 2018	20.1	+0.9pp	Cons. · Japanese GAAP
FYE Dec 2019	18.5	−1.7pp	Cons. · Japanese GAAP
FYE Dec 2020	16.2	−2.2pp	Cons. · Japanese GAAP
FYE Dec 2021	18.8	+2.5pp	Cons. · Japanese GAAP
FYE Dec 2022	18.8	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2023	16.0	−2.8pp	Cons. · Japanese GAAP
FYE Dec 2024	14.1	−1.9pp	Cons. · Japanese GAAP
FYE Dec 2025	13.2	−0.9pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Dec 2025 14.1%

Average · 10 yrs 18.4%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Dec 2016	21.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	19.7	−1.7pp	Cons. · Japanese GAAP
FYE Dec 2018	20.2	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2019	18.5	−1.7pp	Cons. · Japanese GAAP
FYE Dec 2020	16.5	−2.0pp	Cons. · Japanese GAAP
FYE Dec 2021	19.8	+3.3pp	Cons. · Japanese GAAP
FYE Dec 2022	20.1	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2023	17.6	−2.5pp	Cons. · Japanese GAAP
FYE Dec 2024	15.9	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2025	14.1	−1.8pp	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 Dec 2025 9.5%

Average · 10 yrs 12.9%

Fiscal year	Net margin %	YoY	Basis
FYE Dec 2016	14.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	14.9	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2018	14.0	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2019	12.8	−1.2pp	Cons. · Japanese GAAP
FYE Dec 2020	11.4	−1.4pp	Cons. · Japanese GAAP
FYE Dec 2021	13.8	+2.4pp	Cons. · Japanese GAAP
FYE Dec 2022	14.0	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2023	11.5	−2.5pp	Cons. · Japanese GAAP
FYE Dec 2024	12.0	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2025	9.5	−2.5pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Dec 2025 49.0%

Average · 10 yrs 47.5%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Dec 2016	46.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	48.1	+1.7pp	Cons. · Japanese GAAP
FYE Dec 2018	45.8	−2.3pp	Cons. · Japanese GAAP
FYE Dec 2019	47.1	+1.3pp	Cons. · Japanese GAAP
FYE Dec 2020	48.1	+1.0pp	Cons. · Japanese GAAP
FYE Dec 2021	47.4	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2022	46.7	−0.7pp	Cons. · Japanese GAAP
FYE Dec 2023	47.8	+1.1pp	Cons. · Japanese GAAP
FYE Dec 2024	48.7	+0.9pp	Cons. · Japanese GAAP
FYE Dec 2025	49.0	+0.3pp	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 Dec 2025 37.8%

Average · 10 yrs 34.9%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Dec 2016	32.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	32.7	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2018	34.1	+1.4pp	Cons. · Japanese GAAP
FYE Dec 2019	34.5	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2020	35.7	+1.2pp	Cons. · Japanese GAAP
FYE Dec 2021	33.8	−1.9pp	Cons. · Japanese GAAP
FYE Dec 2022	34.4	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2023	36.2	+1.7pp	Cons. · Japanese GAAP
FYE Dec 2024	37.2	+1.0pp	Cons. · Japanese GAAP
FYE Dec 2025	37.8	+0.6pp	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 Dec 2025 ¥180bn

CAGR · 10 yrs +5.1%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Dec 2016	115	n/a	Cons. · Japanese GAAP
FYE Dec 2017	112	−2.4%	Cons. · Japanese GAAP
FYE Dec 2018	115	+2.8%	Cons. · Japanese GAAP
FYE Dec 2019	126	+9.4%	Cons. · Japanese GAAP
FYE Dec 2020	124	−1.9%	Cons. · Japanese GAAP
FYE Dec 2021	143	+15.8%	Cons. · Japanese GAAP
FYE Dec 2022	157	+9.4%	Cons. · Japanese GAAP
FYE Dec 2023	166	+6.3%	Cons. · Japanese GAAP
FYE Dec 2024	177	+6.1%	Cons. · Japanese GAAP
FYE Dec 2025	180	+1.8%	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 Dec 2025 ¥145bn

CAGR · 10 yrs +7.3%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Dec 2016	77.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	58.6	−24.2%	Cons. · Japanese GAAP
FYE Dec 2018	68.3	+16.6%	Cons. · Japanese GAAP
FYE Dec 2019	79.8	+16.8%	Cons. · Japanese GAAP
FYE Dec 2020	86.7	+8.7%	Cons. · Japanese GAAP
FYE Dec 2021	101	+16.5%	Cons. · Japanese GAAP
FYE Dec 2022	117	+15.3%	Cons. · Japanese GAAP
FYE Dec 2023	130	+11.9%	Cons. · Japanese GAAP
FYE Dec 2024	140	+7.2%	Cons. · Japanese GAAP
FYE Dec 2025	145	+4.0%	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 Dec 2025 ¥4.6bn

CAGR · 10 yrs −5.3%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Dec 2016	7.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	17.7	+137.0%	Cons. · Japanese GAAP
FYE Dec 2018	15.5	−12.1%	Cons. · Japanese GAAP
FYE Dec 2019	15.4	−1.1%	Cons. · Japanese GAAP
FYE Dec 2020	11.3	−26.4%	Cons. · Japanese GAAP
FYE Dec 2021	2.8	−75.6%	Cons. · Japanese GAAP
FYE Dec 2022	4.5	+61.5%	Cons. · Japanese GAAP
FYE Dec 2023	2.2	−50.1%	Cons. · Japanese GAAP
FYE Dec 2024	0.5	−75.9%	Cons. · Japanese GAAP
FYE Dec 2025	4.6	+754.9%	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Dec 2025 ¥0.6bn

CAGR · 10 yrs −16.4%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	2.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	3.4	+17.3%	Cons. · Japanese GAAP
FYE Dec 2018	3.5	+2.6%	Cons. · Japanese GAAP
FYE Dec 2019	5.1	+46.2%	Cons. · Japanese GAAP
FYE Dec 2020	4.7	−9.2%	Cons. · Japanese GAAP
FYE Dec 2021	2.7	−41.6%	Cons. · Japanese GAAP
FYE Dec 2022	4.4	+63.4%	Cons. · Japanese GAAP
FYE Dec 2023	1.7	−61.1%	Cons. · Japanese GAAP
FYE Dec 2024	0.4	−78.6%	Cons. · Japanese GAAP
FYE Dec 2025	0.6	+57.3%	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 Dec 2025 ¥4.0bn

CAGR · 10 yrs −1.4%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	4.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	14.3	+213.8%	Cons. · Japanese GAAP
FYE Dec 2018	12.0	−15.6%	Cons. · Japanese GAAP
FYE Dec 2019	10.2	−14.8%	Cons. · Japanese GAAP
FYE Dec 2020	6.7	−35.0%	Cons. · Japanese GAAP
FYE Dec 2021	0.0	−99.4%	Cons. · Japanese GAAP
FYE Dec 2022	0.0	−61.0%	Cons. · Japanese GAAP
FYE Dec 2023	0.5	+2987.5%	Cons. · Japanese GAAP
FYE Dec 2024	0.2	−66.4%	Cons. · Japanese GAAP
FYE Dec 2025	4.0	+2309.6%	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 Dec 2025 ¥7.6bn

CAGR · 10 yrs +3.3%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Dec 2016	5.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	6.0	+5.3%	Cons. · Japanese GAAP
FYE Dec 2018	6.0	−0.1%	Cons. · Japanese GAAP
FYE Dec 2019	6.1	+2.6%	Cons. · Japanese GAAP
FYE Dec 2020	6.3	+1.9%	Cons. · Japanese GAAP
FYE Dec 2021	6.3	+0.9%	Cons. · Japanese GAAP
FYE Dec 2022	6.3	−0.7%	Cons. · Japanese GAAP
FYE Dec 2023	6.3	+1.0%	Cons. · Japanese GAAP
FYE Dec 2024	7.7	+22.2%	Cons. · Japanese GAAP
FYE Dec 2025	7.6	−1.6%	Cons. · Japanese GAAP

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

Equity ratio

FYE Dec 2025 80.8%

Average · 10 yrs 69.6%

Fiscal year	Equity ratio %	YoY	Basis
FYE Dec 2016	67.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	52.3	−15.0pp	Cons. · Japanese GAAP
FYE Dec 2018	59.4	+7.0pp	Cons. · Japanese GAAP
FYE Dec 2019	63.4	+4.0pp	Cons. · Japanese GAAP
FYE Dec 2020	70.2	+6.8pp	Cons. · Japanese GAAP
FYE Dec 2021	70.6	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2022	74.5	+3.9pp	Cons. · Japanese GAAP
FYE Dec 2023	78.3	+3.9pp	Cons. · Japanese GAAP
FYE Dec 2024	79.1	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2025	80.8	+1.7pp	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 Dec 2025 3.2%

Average · 10 yrs 10.7%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Dec 2016	9.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	30.1	+20.5pp	Cons. · Japanese GAAP
FYE Dec 2018	22.7	−7.4pp	Cons. · Japanese GAAP
FYE Dec 2019	19.3	−3.5pp	Cons. · Japanese GAAP
FYE Dec 2020	13.0	−6.2pp	Cons. · Japanese GAAP
FYE Dec 2021	2.7	−10.3pp	Cons. · Japanese GAAP
FYE Dec 2022	3.8	+1.1pp	Cons. · Japanese GAAP
FYE Dec 2023	1.7	−2.1pp	Cons. · Japanese GAAP
FYE Dec 2024	0.4	−1.3pp	Cons. · Japanese GAAP
FYE Dec 2025	3.2	+2.8pp	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 Dec 2025 8.3%

Average · 10 yrs 15.2%

Fiscal year	ROE %	YoY	Basis
FYE Dec 2016	18.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	26.4	+7.7pp	Cons. · Japanese GAAP
FYE Dec 2018	21.3	−5.1pp	Cons. · Japanese GAAP
FYE Dec 2019	16.6	−4.7pp	Cons. · Japanese GAAP
FYE Dec 2020	11.5	−5.2pp	Cons. · Japanese GAAP
FYE Dec 2021	14.1	+2.7pp	Cons. · Japanese GAAP
FYE Dec 2022	13.5	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2023	10.5	−3.1pp	Cons. · Japanese GAAP
FYE Dec 2024	10.9	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2025	8.3	−2.6pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Dec 2025 6.7%

Average · 10 yrs 10.1%

Fiscal year	ROA %	YoY	Basis
FYE Dec 2016	12.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	13.8	+1.2pp	Cons. · Japanese GAAP
FYE Dec 2018	12.7	−1.2pp	Cons. · Japanese GAAP
FYE Dec 2019	10.5	−2.1pp	Cons. · Japanese GAAP
FYE Dec 2020	8.0	−2.5pp	Cons. · Japanese GAAP
FYE Dec 2021	10.0	+1.9pp	Cons. · Japanese GAAP
FYE Dec 2022	10.1	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2023	8.2	−1.9pp	Cons. · Japanese GAAP
FYE Dec 2024	8.6	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2025	6.7	−1.9pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Dec 2025 0.70×

CAGR · 10 yrs −2.2%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Dec 2016	0.86	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.93	+8.5%	Cons. · Japanese GAAP
FYE Dec 2018	0.90	−2.8%	Cons. · Japanese GAAP
FYE Dec 2019	0.82	−8.9%	Cons. · Japanese GAAP
FYE Dec 2020	0.70	−14.4%	Cons. · Japanese GAAP
FYE Dec 2021	0.72	+2.1%	Cons. · Japanese GAAP
FYE Dec 2022	0.72	+0.1%	Cons. · Japanese GAAP
FYE Dec 2023	0.71	−1.2%	Cons. · Japanese GAAP
FYE Dec 2024	0.71	+0.2%	Cons. · Japanese GAAP
FYE Dec 2025	0.70	−1.6%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Dec 2025 ¥17bn

CAGR · 10 yrs +6.4%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Dec 2016	9.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	17.9	+83.3%	Cons. · Japanese GAAP
FYE Dec 2018	14.1	−21.0%	Cons. · Japanese GAAP
FYE Dec 2019	15.2	+7.6%	Cons. · Japanese GAAP
FYE Dec 2020	15.1	−0.3%	Cons. · Japanese GAAP
FYE Dec 2021	19.8	+30.9%	Cons. · Japanese GAAP
FYE Dec 2022	13.8	−30.6%	Cons. · Japanese GAAP
FYE Dec 2023	10.2	−26.0%	Cons. · Japanese GAAP
FYE Dec 2024	22.7	+123.4%	Cons. · Japanese GAAP
FYE Dec 2025	17.0	−25.2%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Dec 2025 -¥11bn

Average · 10 yrs -¥6.4bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-3.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-5.6	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-2.9	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-5.5	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-4.5	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-3.6	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-5.4	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-10.7	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-11.1	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-11.1	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 Dec 2025 -¥8.0bn

Average · 10 yrs -¥7.6bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	1.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-19.7	−1781.3%	Cons. · Japanese GAAP
FYE Dec 2018	-6.9	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-2.1	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-5.4	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-8.0	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-8.4	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-7.4	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-11.0	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-8.0	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 Dec 2025 ¥39bn

CAGR · 10 yrs +3.6%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Dec 2016	28.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	20.5	−27.3%	Cons. · Japanese GAAP
FYE Dec 2018	24.8	+21.1%	Cons. · Japanese GAAP
FYE Dec 2019	32.5	+31.1%	Cons. · Japanese GAAP
FYE Dec 2020	37.7	+16.1%	Cons. · Japanese GAAP
FYE Dec 2021	45.8	+21.5%	Cons. · Japanese GAAP
FYE Dec 2022	45.4	−0.9%	Cons. · Japanese GAAP
FYE Dec 2023	38.3	−15.7%	Cons. · Japanese GAAP
FYE Dec 2024	39.1	+2.0%	Cons. · Japanese GAAP
FYE Dec 2025	38.6	−1.4%	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 Dec 2025 ¥5.9bn

CAGR · 10 yrs −1.2%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Dec 2016	6.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	12.2	+86.9%	Cons. · Japanese GAAP
FYE Dec 2018	11.2	−8.5%	Cons. · Japanese GAAP
FYE Dec 2019	9.7	−13.3%	Cons. · Japanese GAAP
FYE Dec 2020	10.7	+10.0%	Cons. · Japanese GAAP
FYE Dec 2021	16.2	+51.9%	Cons. · Japanese GAAP
FYE Dec 2022	8.4	−48.2%	Cons. · Japanese GAAP
FYE Dec 2023	-0.5	−106.3%	Cons. · Japanese GAAP
FYE Dec 2024	11.7	n/a	Cons. · Japanese GAAP
FYE Dec 2025	5.9	−49.7%	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 Dec 2025 13.4%

Average · 10 yrs 14.4%

Fiscal year	OCF margin %	YoY	Basis
FYE Dec 2016	9.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	17.2	+7.3pp	Cons. · Japanese GAAP
FYE Dec 2018	13.6	−3.6pp	Cons. · Japanese GAAP
FYE Dec 2019	14.6	+1.1pp	Cons. · Japanese GAAP
FYE Dec 2020	17.4	+2.7pp	Cons. · Japanese GAAP
FYE Dec 2021	19.2	+1.8pp	Cons. · Japanese GAAP
FYE Dec 2022	12.2	−7.0pp	Cons. · Japanese GAAP
FYE Dec 2023	8.6	−3.6pp	Cons. · Japanese GAAP
FYE Dec 2024	18.0	+9.4pp	Cons. · Japanese GAAP
FYE Dec 2025	13.4	−4.6pp	Cons. · Japanese GAAP

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

Net cash

FYE Dec 2025 ¥34bn

CAGR · 10 yrs +5.7%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Dec 2016	20.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	2.8	−86.5%	Cons. · Japanese GAAP
FYE Dec 2018	9.3	+231.1%	Cons. · Japanese GAAP
FYE Dec 2019	17.1	+85.0%	Cons. · Japanese GAAP
FYE Dec 2020	26.4	+54.3%	Cons. · Japanese GAAP
FYE Dec 2021	43.1	+63.1%	Cons. · Japanese GAAP
FYE Dec 2022	41.0	−4.9%	Cons. · Japanese GAAP
FYE Dec 2023	36.1	−11.9%	Cons. · Japanese GAAP
FYE Dec 2024	38.6	+6.8%	Cons. · Japanese GAAP
FYE Dec 2025	34.0	−11.9%	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 Dec 2025 ¥200bn

Change · 10 yrs −¥27bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Dec 2016	226	n/a
FYE Dec 2017	254	n/a
FYE Dec 2018	249	n/a
FYE Dec 2019	193	n/a
FYE Dec 2020	127	n/a
FYE Dec 2021	185	n/a
FYE Dec 2022	201	n/a
FYE Dec 2023	175	n/a
FYE Dec 2024	199	n/a
FYE Dec 2025	200	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 Dec 2025 4,882¥

Change · 10 yrs +48¥

Fiscal year	Share price ¥	Basis
FYE Dec 2016	4,834	n/a
FYE Dec 2017	5,426	n/a
FYE Dec 2018	5,326	n/a
FYE Dec 2019	4,410	n/a
FYE Dec 2020	2,896	n/a
FYE Dec 2021	4,414	n/a
FYE Dec 2022	4,798	n/a
FYE Dec 2023	4,190	n/a
FYE Dec 2024	4,857	n/a
FYE Dec 2025	4,882	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 Dec 2025 40,905,200shares

Change · 10 yrs −5,909,200 shares

Fiscal year	Shares outstanding shares	Basis
FYE Dec 2016	46,814,400	Parent
FYE Dec 2017	46,814,400	Parent
FYE Dec 2018	46,814,400	Parent
FYE Dec 2019	43,814,400	Parent
FYE Dec 2020	43,814,400	Parent
FYE Dec 2021	41,814,400	Parent
FYE Dec 2022	41,814,400	Parent
FYE Dec 2023	41,814,400	Parent
FYE Dec 2024	40,905,200	Parent
FYE Dec 2025	40,905,200	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 Dec 2025 317.02¥

Change · 10 yrs +7.16¥

Fiscal year	EPS ¥	Basis
FYE Dec 2016	309.86	Cons.
FYE Dec 2017	361.72	Cons.
FYE Dec 2018	369.87	Cons.
FYE Dec 2019	336.62	Cons.
FYE Dec 2020	251.84	Cons.
FYE Dec 2021	361.81	Cons.
FYE Dec 2022	399.86	Cons.
FYE Dec 2023	346.31	Cons.
FYE Dec 2024	388.53	Cons.
FYE Dec 2025	317.02	Cons.

Definition: Net profit for each share
Formula: Net profit ÷ average shares outstanding
Source: Securities report (XBRL)

BPS book value per share

FYE Dec 2025 3,555.66¥

Change · 10 yrs +1,904.63¥

Fiscal year	BPS ¥	Basis
FYE Dec 2016	1,651.03	Cons. · Japanese GAAP
FYE Dec 2017	1,251.73	Cons. · Japanese GAAP
FYE Dec 2018	1,459.66	Cons. · Japanese GAAP
FYE Dec 2019	1,821.57	Cons. · Japanese GAAP
FYE Dec 2020	1,979.71	Cons. · Japanese GAAP
FYE Dec 2021	2,416.73	Cons. · Japanese GAAP
FYE Dec 2022	2,787.39	Cons. · Japanese GAAP
FYE Dec 2023	3,118.76	Cons. · Japanese GAAP
FYE Dec 2024	3,418.93	Cons. · Japanese GAAP
FYE Dec 2025	3,555.66	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Dec 2025 15.40×

Average · 10 yrs 13.38×

Fiscal year	PER ×	Basis
FYE Dec 2016	15.60	Cons.
FYE Dec 2017	15.00	Cons.
FYE Dec 2018	14.40	Cons.
FYE Dec 2019	13.10	Cons.
FYE Dec 2020	11.50	Cons.
FYE Dec 2021	12.20	Cons.
FYE Dec 2022	12.00	Cons.
FYE Dec 2023	12.10	Cons.
FYE Dec 2024	12.50	Cons.
FYE Dec 2025	15.40	Cons.

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

PBR price-to-book ratio

FYE Dec 2025 1.25×

Average · 10 yrs 2.04×

Fiscal year	PBR ×	Basis
FYE Dec 2016	2.93	Cons.
FYE Dec 2017	3.65	Cons.
FYE Dec 2018	3.07	Cons.
FYE Dec 2019	2.18	Cons.
FYE Dec 2020	1.32	Cons.
FYE Dec 2021	1.72	Cons.
FYE Dec 2022	1.62	Cons.
FYE Dec 2023	1.27	Cons.
FYE Dec 2024	1.34	Cons.
FYE Dec 2025	1.25	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 Dec 2025 3,175people

Change · 10 yrs +668 people

Fiscal year	Group employees people	YoY	Basis
FYE Dec 2016	2,507	n/a	Cons.
FYE Dec 2017	2,604	+3.9%	Cons.
FYE Dec 2018	2,642	+1.5%	Cons.
FYE Dec 2019	2,637	−0.2%	Cons.
FYE Dec 2020	2,609	−1.1%	Cons.
FYE Dec 2021	2,629	+0.8%	Cons.
FYE Dec 2022	2,707	+3.0%	Cons.
FYE Dec 2023	2,831	+4.6%	Cons.
FYE Dec 2024	2,965	+4.7%	Cons.
FYE Dec 2025	3,175	+7.1%	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 Dec 2025 1,092people

Change · 10 yrs +45 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Dec 2016	1,047	n/a	Parent
FYE Dec 2017	1,025	−2.1%	Parent
FYE Dec 2018	1,020	−0.5%	Parent
FYE Dec 2019	999	−2.1%	Parent
FYE Dec 2020	991	−0.8%	Parent
FYE Dec 2021	1,007	+1.6%	Parent
FYE Dec 2022	1,013	+0.6%	Parent
FYE Dec 2023	1,056	+4.2%	Parent
FYE Dec 2024	1,094	+3.6%	Parent
FYE Dec 2025	1,092	−0.2%	Parent

Definition: Employees of the filing company itself
Formula: Parent-only headcount, from the employee section of the filing
Source: Securities report (XBRL)

Average annual pay parent company

FYE Dec 2025 ¥7.5m

Change · 7 yrs +¥1.1m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	6.4	n/a	Parent
FYE Dec 2020	6.5	+1.0%	Parent
FYE Dec 2021	6.4	−1.8%	Parent
FYE Dec 2022	6.7	+5.7%	Parent
FYE Dec 2023	7.1	+5.2%	Parent
FYE Dec 2024	7.3	+3.3%	Parent
FYE Dec 2025	7.5	+3.2%	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 Dec 2025 43.5years

Change · 7 yrs −1.9 years

Fiscal year	Average age years	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	45.4	n/a	Parent
FYE Dec 2020	45.5	+0.2%	Parent
FYE Dec 2021	44.2	−2.7%	Parent
FYE Dec 2022	43.7	−1.1%	Parent
FYE Dec 2023	42.8	−2.0%	Parent
FYE Dec 2024	43.5	+1.5%	Parent
FYE Dec 2025	43.5	−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 Dec 2025 18.7years

Change · 7 yrs −3.8 years

Fiscal year	Average length of service years	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	22.5	n/a	Parent
FYE Dec 2020	22.2	−1.1%	Parent
FYE Dec 2021	20.6	−7.3%	Parent
FYE Dec 2022	19.9	−3.7%	Parent
FYE Dec 2023	18.5	−6.9%	Parent
FYE Dec 2024	18.8	+1.8%	Parent
FYE Dec 2025	18.7	−0.8%	Parent

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

Temporary employees

FYE Dec 2025 968people

Change · 10 yrs +398 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Dec 2016	570	n/a	n/a
FYE Dec 2017	640	+12.3%	n/a
FYE Dec 2018	660	+3.1%	n/a
FYE Dec 2019	663	+0.5%	n/a
FYE Dec 2020	648	−2.3%	n/a
FYE Dec 2021	658	+1.5%	n/a
FYE Dec 2022	679	+3.2%	n/a
FYE Dec 2023	747	+10.0%	n/a
FYE Dec 2024	750	+0.4%	n/a
FYE Dec 2025	968	+29.1%	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 Dec 2025 ¥39.8m

Change · 10 yrs +¥0.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Dec 2016	39.2	n/a	Cons.
FYE Dec 2017	40.0	+1.9%	Cons.
FYE Dec 2018	39.4	−1.5%	Cons.
FYE Dec 2019	39.3	−0.1%	Cons.
FYE Dec 2020	33.4	−15.1%	Cons.
FYE Dec 2021	39.2	+17.4%	Cons.
FYE Dec 2022	41.7	+6.3%	Cons.
FYE Dec 2023	41.9	+0.5%	Cons.
FYE Dec 2024	42.6	+1.6%	Cons.
FYE Dec 2025	39.8	−6.4%	Cons.

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

Operating profit per employee

FYE Dec 2025 ¥5.2m

Change · 10 yrs −¥3.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Dec 2016	8.4	n/a	Cons.
FYE Dec 2017	7.7	−8.5%	Cons.
FYE Dec 2018	7.9	+3.3%	Cons.
FYE Dec 2019	7.3	−8.4%	Cons.
FYE Dec 2020	5.4	−25.3%	Cons.
FYE Dec 2021	7.4	+35.6%	Cons.
FYE Dec 2022	7.8	+6.8%	Cons.
FYE Dec 2023	6.7	−14.5%	Cons.
FYE Dec 2024	6.0	−10.5%	Cons.
FYE Dec 2025	5.2	−12.7%	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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