Financials

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

FYE Mar 2026 · Revenue¥164bnYoY +18.3%

FYE Mar 2026 · Operating profit¥17bnYoY +16.7%

FYE Mar 2026 · Net profit¥12bnYoY +14.2%

FYE Mar 2026 · Equity ratio62.6%YoY −0.6pp

FYE Mar 2026 · Group employees2,980YoY +228

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥61bn	n/a	¥4.1bn	n/a	6.8%	¥3.0bn	Hayashida Soju	—
FYE Mar 2018Consolidated	¥62bn	+1.9%	¥2.9bn	−29.5%	4.7%	¥1.9bn	Hayashida Soju	—
FYE Mar 2019Consolidated	¥61bn	−1.8%	¥2.5bn	−15.1%	4.1%	¥1.7bn	Hayashida Soju	—
FYE Mar 2020Consolidated	¥62bn	+1.4%	¥2.4bn	−2.5%	3.9%	¥1.7bn	Hayashida Soju	Toyo Zoki made a wholly owned subsidiary, bringing die technology in house
FYE Mar 2021Consolidated	¥52bn	−16.8%	¥1.0bn	−57.4%	2.0%	¥1.1bn	Hayashida Soju	—
FYE Mar 2022Consolidated	¥74bn	+44.5%	¥6.7bn	+552.7%	9.0%	¥5.8bn	Hayashida Soju	BRIDGESTONE TECNIFIBRE made a subsidiary; entry into tennis balls
FYE Mar 2023Consolidated	¥107bn	+43.7%	¥10bn	+49.3%	9.4%	¥7.3bn	Hayashida Soju	Arisa Yoneyama, 34, becomes fifth president
FYE Mar 2024Consolidated	¥116bn	+8.8%	¥12bn	+15.4%	10.0%	¥8.9bn	Yoneyama Arisa	Sales pass ¥100bn for the first time, at ¥107.0bn
FYE Mar 2025Consolidated	¥138bn	+18.8%	¥14bn	+22.1%	10.3%	¥11bn	Yoneyama Arisa	Paris Olympics; sponsored players lift racquet, shuttle and string demand
FYE Mar 2026Consolidated	¥164bn	+18.3%	¥17bn	+16.7%	10.1%	¥12bn	Yoneyama Arisa	Fourth consecutive record year: sales ¥138.3bn, operating profit ¥14.2bn

How it compares

Asics¥811bnFY2025Operating margin 17.6%

MIZUNO Corporation¥259bnFY2025Operating margin 8.7%

Yonex¥164bnFY2025Operating margin 10.1%

Goldwin¥138bnFY2025Operating margin 18.8%

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 ¥164bn

CAGR · 10 yrs +11.6%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	61.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	62.2	+1.9%	Cons. · Japanese GAAP
FYE Mar 2019	61.1	−1.8%	Cons. · Japanese GAAP
FYE Mar 2020	62.0	+1.4%	Cons. · Japanese GAAP
FYE Mar 2021	51.6	−16.8%	Cons. · Japanese GAAP
FYE Mar 2022	74.5	+44.5%	Cons. · Japanese GAAP
FYE Mar 2023	107	+43.7%	Cons. · Japanese GAAP
FYE Mar 2024	116	+8.8%	Cons. · Japanese GAAP
FYE Mar 2025	138	+18.8%	Cons. · Japanese GAAP
FYE Mar 2026	164	+18.3%	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 ¥91bn

CAGR · 10 yrs +11.5%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	34.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.2	+5.8%	Cons. · Japanese GAAP
FYE Mar 2019	35.4	−2.5%	Cons. · Japanese GAAP
FYE Mar 2020	35.8	+1.1%	Cons. · Japanese GAAP
FYE Mar 2021	30.3	−15.3%	Cons. · Japanese GAAP
FYE Mar 2022	41.1	+35.7%	Cons. · Japanese GAAP
FYE Mar 2023	61.1	+48.7%	Cons. · Japanese GAAP
FYE Mar 2024	64.8	+6.1%	Cons. · Japanese GAAP
FYE Mar 2025	76.2	+17.6%	Cons. · Japanese GAAP
FYE Mar 2026	91.1	+19.6%	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 ¥73bn

CAGR · 10 yrs +11.7%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	26.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.9	−3.2%	Cons. · Japanese GAAP
FYE Mar 2019	25.7	−0.8%	Cons. · Japanese GAAP
FYE Mar 2020	26.2	+1.8%	Cons. · Japanese GAAP
FYE Mar 2021	21.3	−18.8%	Cons. · Japanese GAAP
FYE Mar 2022	33.4	+56.9%	Cons. · Japanese GAAP
FYE Mar 2023	45.9	+37.5%	Cons. · Japanese GAAP
FYE Mar 2024	51.6	+12.4%	Cons. · Japanese GAAP
FYE Mar 2025	62.1	+20.2%	Cons. · Japanese GAAP
FYE Mar 2026	72.5	+16.9%	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 ¥56bn

CAGR · 10 yrs +10.6%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	22.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.0	+1.6%	Cons. · Japanese GAAP
FYE Mar 2019	23.3	+1.0%	Cons. · Japanese GAAP
FYE Mar 2020	23.8	+2.3%	Cons. · Japanese GAAP
FYE Mar 2021	20.3	−14.9%	Cons. · Japanese GAAP
FYE Mar 2022	26.7	+31.6%	Cons. · Japanese GAAP
FYE Mar 2023	35.8	+34.5%	Cons. · Japanese GAAP
FYE Mar 2024	40.0	+11.6%	Cons. · Japanese GAAP
FYE Mar 2025	47.9	+19.7%	Cons. · Japanese GAAP
FYE Mar 2026	56.0	+16.9%	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 Mar 2026 ¥17bn

CAGR · 10 yrs +16.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	4.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.9	−29.5%	Cons. · Japanese GAAP
FYE Mar 2019	2.5	−15.1%	Cons. · Japanese GAAP
FYE Mar 2020	2.4	−2.5%	Cons. · Japanese GAAP
FYE Mar 2021	1.0	−57.4%	Cons. · Japanese GAAP
FYE Mar 2022	6.7	+552.7%	Cons. · Japanese GAAP
FYE Mar 2023	10.1	+49.3%	Cons. · Japanese GAAP
FYE Mar 2024	11.6	+15.4%	Cons. · Japanese GAAP
FYE Mar 2025	14.2	+22.1%	Cons. · Japanese GAAP
FYE Mar 2026	16.5	+16.7%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥374m

CAGR · 10 yrs +21.0%

Fiscal year	Non-operating income ¥ m	YoY	Basis
FYE Mar 2017	67.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	87.6	+30.6%	Cons. · Japanese GAAP
FYE Mar 2019	97.0	+10.7%	Cons. · Japanese GAAP
FYE Mar 2020	96.1	−0.9%	Cons. · Japanese GAAP
FYE Mar 2021	834	+767.6%	Cons. · Japanese GAAP
FYE Mar 2022	541	−35.1%	Cons. · Japanese GAAP
FYE Mar 2023	277	−48.8%	Cons. · Japanese GAAP
FYE Mar 2024	691	+149.5%	Cons. · Japanese GAAP
FYE Mar 2025	310	−55.1%	Cons. · Japanese GAAP
FYE Mar 2026	374	+20.6%	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 ¥604m

CAGR · 10 yrs +5.4%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Mar 2017	376	n/a	Cons. · Japanese GAAP
FYE Mar 2018	154	−59.0%	Cons. · Japanese GAAP
FYE Mar 2019	110	−28.8%	Cons. · Japanese GAAP
FYE Mar 2020	252	+129.3%	Cons. · Japanese GAAP
FYE Mar 2021	42.9	−82.9%	Cons. · Japanese GAAP
FYE Mar 2022	33.0	−23.1%	Cons. · Japanese GAAP
FYE Mar 2023	378	+1045.5%	Cons. · Japanese GAAP
FYE Mar 2024	107	−71.7%	Cons. · Japanese GAAP
FYE Mar 2025	522	+387.9%	Cons. · Japanese GAAP
FYE Mar 2026	604	+15.7%	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 ¥16bn

CAGR · 10 yrs +17.4%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	3.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.9	−25.5%	Cons. · Japanese GAAP
FYE Mar 2019	2.5	−13.6%	Cons. · Japanese GAAP
FYE Mar 2020	2.3	−8.3%	Cons. · Japanese GAAP
FYE Mar 2021	1.8	−19.5%	Cons. · Japanese GAAP
FYE Mar 2022	7.2	+297.5%	Cons. · Japanese GAAP
FYE Mar 2023	10.0	+37.5%	Cons. · Japanese GAAP
FYE Mar 2024	12.2	+22.4%	Cons. · Japanese GAAP
FYE Mar 2025	14.0	+14.5%	Cons. · Japanese GAAP
FYE Mar 2026	16.3	+16.8%	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 ¥866m

CAGR · 10 yrs +13.8%

Fiscal year	Extraordinary income ¥ m	YoY	Basis
FYE Mar 2017	270	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.6	−99.8%	Cons. · Japanese GAAP
FYE Mar 2019	247	+39753.2%	Cons. · Japanese GAAP
FYE Mar 2020	200	−18.9%	Cons. · Japanese GAAP
FYE Mar 2021	289	+44.0%	Cons. · Japanese GAAP
FYE Mar 2022	575	+99.3%	Cons. · Japanese GAAP
FYE Mar 2023	361	−37.2%	Cons. · Japanese GAAP
FYE Mar 2024	515	+42.7%	Cons. · Japanese GAAP
FYE Mar 2025	927	+80.0%	Cons. · Japanese GAAP
FYE Mar 2026	866	−6.6%	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 ¥12bn

CAGR · 10 yrs +16.6%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.9	−38.7%	Cons. · Japanese GAAP
FYE Mar 2019	1.7	−7.5%	Cons. · Japanese GAAP
FYE Mar 2020	1.7	−4.1%	Cons. · Japanese GAAP
FYE Mar 2021	1.1	−33.3%	Cons. · Japanese GAAP
FYE Mar 2022	5.8	+424.5%	Cons. · Japanese GAAP
FYE Mar 2023	7.3	+26.8%	Cons. · Japanese GAAP
FYE Mar 2024	8.9	+20.8%	Cons. · Japanese GAAP
FYE Mar 2025	10.6	+19.6%	Cons. · Japanese GAAP
FYE Mar 2026	12.1	+14.2%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 44.3%

Average · 10 yrs 43.3%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	43.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.7	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2019	42.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	42.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	41.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	44.8	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2023	42.9	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	44.3	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	44.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	44.3	−0.6pp	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 10.1%

Average · 10 yrs 7.0%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.7	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2019	4.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	3.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	2.0	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	9.0	+7.0pp	Cons. · Japanese GAAP
FYE Mar 2023	9.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	10.0	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	10.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	10.1	−0.1pp	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 10.0%

Average · 10 yrs 7.2%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.6	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2019	4.0	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	3.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	3.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	9.7	+6.2pp	Cons. · Japanese GAAP
FYE Mar 2023	9.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	10.5	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2025	10.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	10.0	−0.1pp	Cons. · Japanese GAAP

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

Net margin

FYE Mar 2026 7.4%

Average · 10 yrs 5.3%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.0	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2019	2.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	2.7	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	2.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	7.8	+5.6pp	Cons. · Japanese GAAP
FYE Mar 2023	6.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	7.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	7.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	7.4	−0.3pp	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 55.7%

Average · 10 yrs 56.7%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	56.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	58.3	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2019	57.9	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	57.7	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	58.7	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	55.2	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2023	57.1	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	55.7	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	55.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	55.7	+0.6pp	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 34.2%

Average · 10 yrs 36.2%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	37.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	37.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	38.1	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2020	38.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	39.3	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2022	35.8	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2023	33.5	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2024	34.4	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	34.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	34.2	−0.4pp	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 ¥129bn

CAGR · 10 yrs +10.5%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	52.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	53.2	+2.0%	Cons. · Japanese GAAP
FYE Mar 2019	54.3	+1.9%	Cons. · Japanese GAAP
FYE Mar 2020	54.1	−0.3%	Cons. · Japanese GAAP
FYE Mar 2021	55.1	+1.8%	Cons. · Japanese GAAP
FYE Mar 2022	66.3	+20.4%	Cons. · Japanese GAAP
FYE Mar 2023	79.4	+19.8%	Cons. · Japanese GAAP
FYE Mar 2024	91.2	+14.9%	Cons. · Japanese GAAP
FYE Mar 2025	110	+20.1%	Cons. · Japanese GAAP
FYE Mar 2026	129	+17.4%	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 ¥80bn

CAGR · 10 yrs +9.7%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	35.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.8	+5.2%	Cons. · Japanese GAAP
FYE Mar 2019	37.5	+1.7%	Cons. · Japanese GAAP
FYE Mar 2020	38.8	+3.5%	Cons. · Japanese GAAP
FYE Mar 2021	39.7	+2.3%	Cons. · Japanese GAAP
FYE Mar 2022	45.6	+15.0%	Cons. · Japanese GAAP
FYE Mar 2023	52.9	+16.0%	Cons. · Japanese GAAP
FYE Mar 2024	60.7	+14.7%	Cons. · Japanese GAAP
FYE Mar 2025	69.2	+14.0%	Cons. · Japanese GAAP
FYE Mar 2026	80.5	+16.3%	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 ¥16bn

CAGR · 10 yrs +14.7%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	4.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.7	−21.8%	Cons. · Japanese GAAP
FYE Mar 2019	3.7	+0.3%	Cons. · Japanese GAAP
FYE Mar 2020	3.2	−15.6%	Cons. · Japanese GAAP
FYE Mar 2021	1.7	−44.8%	Cons. · Japanese GAAP
FYE Mar 2022	2.0	+12.5%	Cons. · Japanese GAAP
FYE Mar 2023	3.1	+57.4%	Cons. · Japanese GAAP
FYE Mar 2024	5.8	+89.2%	Cons. · Japanese GAAP
FYE Mar 2025	9.1	+56.2%	Cons. · Japanese GAAP
FYE Mar 2026	16.3	+79.5%	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 ¥1.3bn

CAGR · 10 yrs +9.9%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.1	−83.9%	Cons. · Japanese GAAP
FYE Mar 2019	0.7	+633.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.7	−2.5%	Cons. · Japanese GAAP
FYE Mar 2021	0.1	−87.7%	Cons. · Japanese GAAP
FYE Mar 2022	0.5	+570.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.7	+31.6%	Cons. · Japanese GAAP
FYE Mar 2024	2.3	+223.8%	Cons. · Japanese GAAP
FYE Mar 2025	0.8	−63.7%	Cons. · Japanese GAAP
FYE Mar 2026	1.3	+59.5%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Mar 2026 ¥15bn

CAGR · 10 yrs +15.2%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.6	−13.5%	Cons. · Japanese GAAP
FYE Mar 2019	3.1	−15.6%	Cons. · Japanese GAAP
FYE Mar 2020	2.5	−18.5%	Cons. · Japanese GAAP
FYE Mar 2021	1.7	−33.6%	Cons. · Japanese GAAP
FYE Mar 2022	1.4	−14.3%	Cons. · Japanese GAAP
FYE Mar 2023	2.4	+67.0%	Cons. · Japanese GAAP
FYE Mar 2024	3.5	+49.3%	Cons. · Japanese GAAP
FYE Mar 2025	8.3	+133.5%	Cons. · Japanese GAAP
FYE Mar 2026	15.0	+81.6%	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 Mar 2026 ¥1.5bn

CAGR · 10 yrs +14.1%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.4	−8.4%	Cons. · Japanese GAAP
FYE Mar 2019	0.5	+18.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.5	+14.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.7	+24.8%	Cons. · Japanese GAAP
FYE Mar 2022	1.4	+98.4%	Cons. · Japanese GAAP
FYE Mar 2023	2.0	+47.2%	Cons. · Japanese GAAP
FYE Mar 2024	2.3	+17.0%	Cons. · Japanese GAAP
FYE Mar 2025	1.7	−26.1%	Cons. · Japanese GAAP
FYE Mar 2026	1.5	−15.8%	Cons. · Japanese GAAP

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

Goodwill

FYE Mar 2026 n/a

CAGR · 5 yrs −26.3%

Fiscal year	Goodwill ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	146	n/a	Cons. · Japanese GAAP
FYE Mar 2020	219	+50.2%	Cons. · Japanese GAAP
FYE Mar 2021	161	−26.7%	Cons. · Japanese GAAP
FYE Mar 2022	102	−36.5%	Cons. · Japanese GAAP
FYE Mar 2023	43.0	−57.8%	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: What an acquisition cost above the net assets it brought
Formula: Goodwill line of the balance sheet
Source: Securities report (XBRL)

Equity ratio

FYE Mar 2026 62.6%

Average · 10 yrs 67.7%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	67.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.2	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2019	69.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	71.6	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2021	72.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	68.8	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2023	66.6	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	66.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	63.2	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2026	62.6	−0.6pp	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 20.3%

Average · 10 yrs 9.9%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	13.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.1	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2019	10.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	8.1	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2021	4.4	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2022	4.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	5.8	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	9.6	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2025	13.2	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2026	20.3	+7.1pp	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 15.0%

Average · 10 yrs 9.7%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	8.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2019	4.6	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	4.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	2.8	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2022	12.7	+9.9pp	Cons. · Japanese GAAP
FYE Mar 2023	13.9	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2024	14.6	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	15.3	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	15.0	−0.3pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 9.4%

Average · 10 yrs 6.4%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.5	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2019	3.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	3.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	2.0	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2022	8.7	+6.7pp	Cons. · Japanese GAAP
FYE Mar 2023	9.2	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2024	9.7	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	9.7	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	9.4	−0.3pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 1.27×

CAGR · 10 yrs +0.9%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.17	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.17	−0.1%	Cons. · Japanese GAAP
FYE Mar 2019	1.13	−3.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.15	+1.7%	Cons. · Japanese GAAP
FYE Mar 2021	0.94	−18.3%	Cons. · Japanese GAAP
FYE Mar 2022	1.12	+20.0%	Cons. · Japanese GAAP
FYE Mar 2023	1.35	+19.9%	Cons. · Japanese GAAP
FYE Mar 2024	1.28	−5.3%	Cons. · Japanese GAAP
FYE Mar 2025	1.26	−1.1%	Cons. · Japanese GAAP
FYE Mar 2026	1.27	+0.8%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥9.5bn

CAGR · 10 yrs +12.7%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.8	−14.1%	Cons. · Japanese GAAP
FYE Mar 2019	2.3	−18.0%	Cons. · Japanese GAAP
FYE Mar 2020	3.0	+30.0%	Cons. · Japanese GAAP
FYE Mar 2021	4.5	+52.9%	Cons. · Japanese GAAP
FYE Mar 2022	7.4	+63.8%	Cons. · Japanese GAAP
FYE Mar 2023	3.0	−59.8%	Cons. · Japanese GAAP
FYE Mar 2024	12.5	+317.8%	Cons. · Japanese GAAP
FYE Mar 2025	13.0	+3.9%	Cons. · Japanese GAAP
FYE Mar 2026	9.5	−26.9%	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 -¥10bn

Average · 10 yrs -¥3.8bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-1.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-10.0	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 ¥4.5bn

CAGR · 10 yrs +9.3%

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	2.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-0.9	−145.4%	Cons. · Japanese GAAP
FYE Mar 2019	-1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-2.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	0.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-2.6	−442.1%	Cons. · Japanese GAAP
FYE Mar 2026	4.5	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 ¥34bn

CAGR · 10 yrs +13.5%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	10.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.6	+7.2%	Cons. · Japanese GAAP
FYE Mar 2019	10.9	−5.9%	Cons. · Japanese GAAP
FYE Mar 2020	10.9	+0.2%	Cons. · Japanese GAAP
FYE Mar 2021	13.2	+20.5%	Cons. · Japanese GAAP
FYE Mar 2022	17.5	+33.2%	Cons. · Japanese GAAP
FYE Mar 2023	16.4	−6.4%	Cons. · Japanese GAAP
FYE Mar 2024	23.2	+41.2%	Cons. · Japanese GAAP
FYE Mar 2025	29.0	+25.1%	Cons. · Japanese GAAP
FYE Mar 2026	33.7	+16.3%	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 -¥0.6bn

Average · 10 yrs ¥2.3bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.6	+184.8%	Cons. · Japanese GAAP
FYE Mar 2019	0.6	−59.8%	Cons. · Japanese GAAP
FYE Mar 2020	1.5	+127.5%	Cons. · Japanese GAAP
FYE Mar 2021	3.5	+135.4%	Cons. · Japanese GAAP
FYE Mar 2022	5.1	+48.2%	Cons. · Japanese GAAP
FYE Mar 2023	-1.5	−128.6%	Cons. · Japanese GAAP
FYE Mar 2024	5.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	7.2	+41.0%	Cons. · Japanese GAAP
FYE Mar 2026	-0.6	−107.6%	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 5.8%

Average · 10 yrs 6.6%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.5	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	3.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	4.8	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	8.8	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2022	10.0	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	2.8	−7.2pp	Cons. · Japanese GAAP
FYE Mar 2024	10.7	+7.9pp	Cons. · Japanese GAAP
FYE Mar 2025	9.4	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	5.8	−3.6pp	Cons. · Japanese GAAP

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

Net cash

FYE Mar 2026 ¥17bn

CAGR · 10 yrs +12.4%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	6.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.9	+30.0%	Cons. · Japanese GAAP
FYE Mar 2019	7.2	−8.9%	Cons. · Japanese GAAP
FYE Mar 2020	7.8	+8.5%	Cons. · Japanese GAAP
FYE Mar 2021	11.4	+46.9%	Cons. · Japanese GAAP
FYE Mar 2022	15.6	+36.4%	Cons. · Japanese GAAP
FYE Mar 2023	13.3	−14.4%	Cons. · Japanese GAAP
FYE Mar 2024	17.4	+30.1%	Cons. · Japanese GAAP
FYE Mar 2025	19.9	+14.7%	Cons. · Japanese GAAP
FYE Mar 2026	17.4	−12.6%	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 ¥274bn

Change · 10 yrs +¥159bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	116	n/a
FYE Mar 2018	55.1	n/a
FYE Mar 2019	62.9	n/a
FYE Mar 2020	46.0	n/a
FYE Mar 2021	58.9	n/a
FYE Mar 2022	96.6	n/a
FYE Mar 2023	135	n/a
FYE Mar 2024	104	n/a
FYE Mar 2025	222	n/a
FYE Mar 2026	274	n/a

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

Share price year-end close

FYE Mar 2026 2,956¥

Change · 10 yrs −1,989¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	4,944	n/a
FYE Mar 2018	589	n/a
FYE Mar 2019	672	n/a
FYE Mar 2020	491	n/a
FYE Mar 2021	630	n/a
FYE Mar 2022	1,031	n/a
FYE Mar 2023	1,437	n/a
FYE Mar 2024	1,117	n/a
FYE Mar 2025	2,385	n/a
FYE Mar 2026	2,956	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 92,870,800shares

Change · 10 yrs +69,465,600 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	23,405,200	Parent
FYE Mar 2018	93,620,800	Parent
FYE Mar 2019	93,620,800	Parent
FYE Mar 2020	93,620,800	Parent
FYE Mar 2021	93,620,800	Parent
FYE Mar 2022	93,620,800	Parent
FYE Mar 2023	93,620,800	Parent
FYE Mar 2024	92,870,800	Parent
FYE Mar 2025	92,870,800	Parent
FYE Mar 2026	92,870,800	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 141.42¥

Change · 10 yrs +106.60¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	34.82	Cons.
FYE Mar 2018	21.33	Cons.
FYE Mar 2019	19.71	Cons.
FYE Mar 2020	18.89	Cons.
FYE Mar 2021	12.59	Cons.
FYE Mar 2022	66.11	Cons.
FYE Mar 2023	84.05	Cons.
FYE Mar 2024	102.45	Cons.
FYE Mar 2025	122.96	Cons.
FYE Mar 2026	141.42	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 866.72¥

Change · 10 yrs −628.19¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,494.91	Cons. · Japanese GAAP
FYE Mar 2018	393.24	Cons. · Japanese GAAP
FYE Mar 2019	400.06	Cons. · Japanese GAAP
FYE Mar 2020	413.99	Cons. · Japanese GAAP
FYE Mar 2021	423.53	Cons. · Japanese GAAP
FYE Mar 2022	487.15	Cons. · Japanese GAAP
FYE Mar 2023	565.31	Cons. · Japanese GAAP
FYE Mar 2024	653.64	Cons. · Japanese GAAP
FYE Mar 2025	745.14	Cons. · Japanese GAAP
FYE Mar 2026	866.72	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 20.90×

Average · 10 yrs 25.71×

Fiscal year	PER ×	Basis
FYE Mar 2017	35.50	Cons.
FYE Mar 2018	27.60	Cons.
FYE Mar 2019	34.10	Cons.
FYE Mar 2020	26.00	Cons.
FYE Mar 2021	50.00	Cons.
FYE Mar 2022	15.60	Cons.
FYE Mar 2023	17.10	Cons.
FYE Mar 2024	10.90	Cons.
FYE Mar 2025	19.40	Cons.
FYE Mar 2026	20.90	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 3.14×

Average · 10 yrs 2.06×

Fiscal year	PBR ×	Basis
FYE Mar 2017	3.08	Cons.
FYE Mar 2018	1.40	Cons.
FYE Mar 2019	1.57	Cons.
FYE Mar 2020	1.11	Cons.
FYE Mar 2021	1.39	Cons.
FYE Mar 2022	1.97	Cons.
FYE Mar 2023	2.37	Cons.
FYE Mar 2024	1.59	Cons.
FYE Mar 2025	2.95	Cons.
FYE Mar 2026	3.14	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 2,980people

Change · 10 yrs +1,270 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	1,710	n/a	Cons.
FYE Mar 2018	1,737	+1.6%	Cons.
FYE Mar 2019	1,795	+3.3%	Cons.
FYE Mar 2020	1,815	+1.1%	Cons.
FYE Mar 2021	1,785	−1.7%	Cons.
FYE Mar 2022	2,403	+34.6%	Cons.
FYE Mar 2023	2,590	+7.8%	Cons.
FYE Mar 2024	2,633	+1.7%	Cons.
FYE Mar 2025	2,752	+4.5%	Cons.
FYE Mar 2026	2,980	+8.3%	Cons.

Definition: Everyone employed across the group
Formula: Consolidated headcount, from the employee section of the filing
Source: Securities report (XBRL)

Parent-company employees

FYE Mar 2026 1,467people

Change · 10 yrs +249 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,218	n/a	Parent
FYE Mar 2018	1,241	+1.9%	Parent
FYE Mar 2019	1,280	+3.1%	Parent
FYE Mar 2020	1,277	−0.2%	Parent
FYE Mar 2021	1,231	−3.6%	Parent
FYE Mar 2022	1,180	−4.1%	Parent
FYE Mar 2023	1,241	+5.2%	Parent
FYE Mar 2024	1,265	+1.9%	Parent
FYE Mar 2025	1,351	+6.8%	Parent
FYE Mar 2026	1,467	+8.6%	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 ¥6.4m

Change · 8 yrs +¥1.5m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	4.9	n/a	Parent
FYE Mar 2020	5.0	+0.3%	Parent
FYE Mar 2021	4.6	−7.4%	Parent
FYE Mar 2022	5.2	+13.6%	Parent
FYE Mar 2023	5.6	+6.3%	Parent
FYE Mar 2024	5.7	+3.2%	Parent
FYE Mar 2025	6.0	+5.0%	Parent
FYE Mar 2026	6.4	+6.7%	Parent

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

Average age

FYE Mar 2026 38.7years

Change · 8 yrs +0.4 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	38.3	n/a	Parent
FYE Mar 2020	38.5	+0.5%	Parent
FYE Mar 2021	39.1	+1.6%	Parent
FYE Mar 2022	39.8	+1.8%	Parent
FYE Mar 2023	39.4	−1.0%	Parent
FYE Mar 2024	39.7	+0.8%	Parent
FYE Mar 2025	39.1	−1.5%	Parent
FYE Mar 2026	38.7	−1.0%	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 13.3years

Change · 8 yrs −1.3 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	14.6	n/a	Parent
FYE Mar 2020	14.8	+1.4%	Parent
FYE Mar 2021	15.4	+4.1%	Parent
FYE Mar 2022	15.8	+2.6%	Parent
FYE Mar 2023	15.1	−4.4%	Parent
FYE Mar 2024	14.8	−2.0%	Parent
FYE Mar 2025	14.0	−5.4%	Parent
FYE Mar 2026	13.3	−5.0%	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 674people

Change · 10 yrs +484 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	190	n/a	n/a
FYE Mar 2018	190	−0.0%	n/a
FYE Mar 2019	190	−0.0%	n/a
FYE Mar 2020	185	−2.6%	n/a
FYE Mar 2021	169	−8.6%	n/a
FYE Mar 2022	262	+55.0%	n/a
FYE Mar 2023	331	+26.3%	n/a
FYE Mar 2024	379	+14.5%	n/a
FYE Mar 2025	524	+38.3%	n/a
FYE Mar 2026	674	+28.6%	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 ¥54.9m

Change · 10 yrs +¥19.2m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	35.7	n/a	Cons.
FYE Mar 2018	35.8	+0.3%	Cons.
FYE Mar 2019	34.0	−4.9%	Cons.
FYE Mar 2020	34.1	+0.3%	Cons.
FYE Mar 2021	28.9	−15.4%	Cons.
FYE Mar 2022	31.0	+7.3%	Cons.
FYE Mar 2023	41.3	+33.3%	Cons.
FYE Mar 2024	44.2	+7.0%	Cons.
FYE Mar 2025	50.2	+13.6%	Cons.
FYE Mar 2026	54.9	+9.3%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.6m

Change · 10 yrs +¥3.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.4	n/a	Cons.
FYE Mar 2018	1.7	−30.6%	Cons.
FYE Mar 2019	1.4	−17.9%	Cons.
FYE Mar 2020	1.3	−3.5%	Cons.
FYE Mar 2021	0.6	−56.6%	Cons.
FYE Mar 2022	2.8	+384.8%	Cons.
FYE Mar 2023	3.9	+38.6%	Cons.
FYE Mar 2024	4.4	+13.5%	Cons.
FYE Mar 2025	5.2	+16.8%	Cons.
FYE Mar 2026	5.6	+7.8%	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.

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