Financials
Asics: FYE Dec 2025 and ten years of results (50 metrics)
FYE Dec 2025 · Revenue¥811bnYoY +19.5%
FYE Dec 2025 · Operating profit¥143bnYoY +42.4%
FYE Dec 2025 · Net profit¥99bnYoY +54.7%
FYE Dec 2025 · Equity ratio46.3%YoY +1.4pp
FYE Dec 2025 · Group employees9,455YoY +468
| Fiscal year | Revenue | YoY | Operating profit | YoY | Margin | Net profit | Chief executive | That year |
|---|---|---|---|---|---|---|---|---|
| FYE Dec 2016Consolidated | ¥399bn | n/a | ¥25bn | n/a | 6.4% | ¥16bn | Oyama Motoi | FitnessKeeper Inc. — later Asics Digital — acquired outright for DTC |
| FYE Dec 2017Consolidated | ¥400bn | +0.3% | ¥20bn | −23.2% | 4.9% | ¥13bn | Oyama Motoi | — |
| FYE Dec 2018Consolidated | ¥387bn | −3.4% | ¥11bn | −46.3% | 2.7% | -¥20bn | Oyama Motoi | Net loss of <span class="en-history_money" data-yen="20300000000" data-year="2018">$183.9M (¥20bn)</span>, the first in fifteen years, on overseas impairments |
| FYE Dec 2019Consolidated | ¥378bn | −2.2% | ¥11bn | +1.1% | 2.8% | ¥7.1bn | Hirota Yasuhito | Race Roster operator Fast North Corporation's business acquired |
| FYE Dec 2020Consolidated | ¥329bn | −13.0% | -¥4.0bn | −137.2% | -1.2% | -¥16bn | Hirota Yasuhito | Pandemic year brings an operating loss of <span class="en-history_money" data-yen="4000000000" data-year="2020">$37.5M (¥4bn)</span> |
| FYE Dec 2021Consolidated | ¥404bn | +22.9% | ¥22bn | n/a | 5.4% | ¥9.4bn | Hirota Yasuhito | Return to profit with operating profit of <span class="en-history_money" data-yen="21900000000" data-year="2021">$199.5M (¥22bn)</span>; Registration Logic Pty Ltd acquired |
| FYE Dec 2022Consolidated | ¥485bn | +19.9% | ¥34bn | +54.9% | 7.0% | ¥20bn | Hirota Yasuhito | R-bies acquired with Nippon Television Holdings; njuko SAS made a subsidiary |
| FYE Dec 2023Consolidated | ¥570bn | +17.7% | ¥54bn | +59.4% | 9.5% | ¥35bn | Hirota Yasuhito | Haglöfs AB sold, ending the outdoor business |
| FYE Dec 2024Consolidated | ¥679bn | +18.9% | ¥100bn | +84.7% | 14.8% | ¥64bn | Hirota Yasuhito | <a class="en-history_person" href="/tse/7936/executives/ceo/tominaga-mitsuyuki/" hreflang="ja">Tominaga Mitsuyuki</a> becomes president and COO; <span class="en-history_money" data-yen="50000000000" data-year="2024">$330M (¥50bn)</span> of shares bought back |
| FYE Dec 2025Consolidated | ¥811bn | +19.5% | ¥143bn | +42.4% | 17.6% | ¥99bn | Tominaga Mitsuyuki | 25 million shares retired and the ASICS Foundation established |
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
¥ bnMargins
%Revenue net sales, operating revenue
FYE Dec 2025 ¥811bn
CAGR · 10 yrs +8.2%
| Fiscal year | Revenue ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 399 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 400 | +0.3% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 387 | −3.4% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 378 | −2.2% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 329 | −13.0% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 404 | +22.9% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 485 | +19.9% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 570 | +17.7% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 679 | +18.9% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 811 | +19.5% | Cons. · Japanese GAAP |
Cost of sales
FYE Dec 2025 ¥350bn
CAGR · 10 yrs +5.2%
| Fiscal year | Cost of sales ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 223 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 217 | −2.6% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 206 | −5.0% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 198 | −3.7% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 176 | −11.2% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 204 | +16.0% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 244 | +19.4% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 274 | +12.2% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 300 | +9.5% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 350 | +16.9% | Cons. · Japanese GAAP |
Gross profit
FYE Dec 2025 ¥461bn
CAGR · 10 yrs +11.2%
| Fiscal year | Gross profit ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 177 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 183 | +3.8% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 181 | −1.4% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 180 | −0.5% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 153 | −14.9% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 200 | +30.8% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 241 | +20.4% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 297 | +23.3% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 379 | +27.6% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 461 | +21.6% | Cons. · Japanese GAAP |
SG&A selling, general and administrative expenses
FYE Dec 2025 ¥318bn
CAGR · 10 yrs +8.6%
| Fiscal year | SG&A ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 151 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 164 | +8.4% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 170 | +3.9% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 169 | −0.6% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 157 | −7.2% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 178 | +13.5% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 207 | +16.2% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 243 | +17.4% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 279 | +14.9% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 318 | +14.1% | Cons. · Japanese GAAP |
Operating profit
FYE Dec 2025 ¥143bn
CAGR · 10 yrs +21.1%
| Fiscal year | Operating profit ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 25.5 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 19.6 | −23.2% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 10.5 | −46.3% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 10.6 | +1.1% | Cons. · Japanese GAAP |
| FYE Dec 2020 | -4.0 | −137.2% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 21.9 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2022 | 34.0 | +54.9% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 54.2 | +59.4% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 100 | +84.7% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 143 | +42.4% | Cons. · Japanese GAAP |
Non-operating income
FYE Dec 2025 ¥4.6bn
CAGR · 10 yrs +14.6%
| Fiscal year | Non-operating income ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 1.3 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 3.2 | +140.8% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 2.6 | −20.5% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 2.8 | +9.6% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 1.6 | −42.7% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 3.4 | +107.8% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 4.3 | +29.6% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 5.3 | +22.1% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 5.7 | +8.4% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 4.6 | −20.3% | Cons. · Japanese GAAP |
Non-operating expenses
FYE Dec 2025 ¥7.8bn
CAGR · 10 yrs +9.7%
| Fiscal year | Non-operating expenses ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 3.4 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 1.1 | −68.9% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 4.3 | +307.4% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 3.3 | −22.5% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 4.6 | +36.9% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 3.1 | −31.7% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 7.4 | +137.5% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 8.8 | +19.0% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 13.3 | +49.9% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 7.8 | −41.1% | Cons. · Japanese GAAP |
Ordinary profit keijo rieki
FYE Dec 2025 ¥139bn
CAGR · 10 yrs +21.9%
| Fiscal year | Ordinary profit ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 23.4 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 21.7 | −7.1% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 8.8 | −59.7% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 10.1 | +15.3% | Cons. · Japanese GAAP |
| FYE Dec 2020 | -6.9 | −168.5% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 22.2 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2022 | 30.9 | +39.5% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 50.7 | +63.9% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 92.6 | +82.8% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 139 | +50.4% | Cons. · Japanese GAAP |
Extraordinary income
FYE Dec 2025 ¥2.3bn
CAGR · 10 yrs +72.6%
| Fiscal year | Extraordinary income ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 0.0 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 1.1 | +6570.6% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 1.3 | +17.9% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 1.6 | +17.2% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 0.1 | −94.6% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 0.1 | +35.7% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 0.6 | +457.0% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 8.4 | +1225.7% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 7.2 | −14.8% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 2.3 | −67.8% | Cons. · Japanese GAAP |
Net profit profit attributable to owners of the parent
FYE Dec 2025 ¥99bn
CAGR · 10 yrs +22.8%
| Fiscal year | Net profit ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 15.6 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 13.0 | −16.7% | Cons. · Japanese GAAP |
| FYE Dec 2018 | -20.3 | −256.7% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 7.1 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2020 | -16.1 | −327.2% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 9.4 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2022 | 19.9 | +111.5% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 35.3 | +77.4% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 63.8 | +80.9% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 98.7 | +54.7% | Cons. · Japanese GAAP |
Gross margin
FYE Dec 2025 56.8%
Average · 10 yrs 49.5%
| Fiscal year | Gross margin % | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 44.2 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 45.8 | +1.6pp | Cons. · Japanese GAAP |
| FYE Dec 2018 | 46.7 | +0.9pp | Cons. · Japanese GAAP |
| FYE Dec 2019 | 47.5 | +0.8pp | Cons. · Japanese GAAP |
| FYE Dec 2020 | 46.5 | −1.0pp | Cons. · Japanese GAAP |
| FYE Dec 2021 | 49.5 | +3.0pp | Cons. · Japanese GAAP |
| FYE Dec 2022 | 49.7 | +0.2pp | Cons. · Japanese GAAP |
| FYE Dec 2023 | 52.0 | +2.4pp | Cons. · Japanese GAAP |
| FYE Dec 2024 | 55.8 | +3.8pp | Cons. · Japanese GAAP |
| FYE Dec 2025 | 56.8 | +1.0pp | Cons. · Japanese GAAP |
Operating margin
FYE Dec 2025 17.6%
Average · 10 yrs 7.0%
| Fiscal year | Operating margin % | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 6.4 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 4.9 | −1.5pp | Cons. · Japanese GAAP |
| FYE Dec 2018 | 2.7 | −2.2pp | Cons. · Japanese GAAP |
| FYE Dec 2019 | 2.8 | +0.1pp | Cons. · Japanese GAAP |
| FYE Dec 2020 | -1.2 | −4.0pp | Cons. · Japanese GAAP |
| FYE Dec 2021 | 5.4 | +6.6pp | Cons. · Japanese GAAP |
| FYE Dec 2022 | 7.0 | +1.6pp | Cons. · Japanese GAAP |
| FYE Dec 2023 | 9.5 | +2.5pp | Cons. · Japanese GAAP |
| FYE Dec 2024 | 14.8 | +5.3pp | Cons. · Japanese GAAP |
| FYE Dec 2025 | 17.6 | +2.8pp | Cons. · Japanese GAAP |
Ordinary margin
FYE Dec 2025 17.2%
Average · 10 yrs 6.6%
| Fiscal year | Ordinary margin % | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 5.9 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 5.4 | −0.4pp | Cons. · Japanese GAAP |
| FYE Dec 2018 | 2.3 | −3.2pp | Cons. · Japanese GAAP |
| FYE Dec 2019 | 2.7 | +0.4pp | Cons. · Japanese GAAP |
| FYE Dec 2020 | -2.1 | −4.8pp | Cons. · Japanese GAAP |
| FYE Dec 2021 | 5.5 | +7.6pp | Cons. · Japanese GAAP |
| FYE Dec 2022 | 6.4 | +0.9pp | Cons. · Japanese GAAP |
| FYE Dec 2023 | 8.9 | +2.5pp | Cons. · Japanese GAAP |
| FYE Dec 2024 | 13.6 | +4.8pp | Cons. · Japanese GAAP |
| FYE Dec 2025 | 17.2 | +3.5pp | Cons. · Japanese GAAP |
Net margin
FYE Dec 2025 12.2%
Average · 10 yrs 3.3%
| Fiscal year | Net margin % | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 3.9 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 3.2 | −0.7pp | Cons. · Japanese GAAP |
| FYE Dec 2018 | -5.3 | −8.5pp | Cons. · Japanese GAAP |
| FYE Dec 2019 | 1.9 | +7.1pp | Cons. · Japanese GAAP |
| FYE Dec 2020 | -4.9 | −6.8pp | Cons. · Japanese GAAP |
| FYE Dec 2021 | 2.3 | +7.2pp | Cons. · Japanese GAAP |
| FYE Dec 2022 | 4.1 | +1.8pp | Cons. · Japanese GAAP |
| FYE Dec 2023 | 6.2 | +2.1pp | Cons. · Japanese GAAP |
| FYE Dec 2024 | 9.4 | +3.2pp | Cons. · Japanese GAAP |
| FYE Dec 2025 | 12.2 | +2.8pp | Cons. · Japanese GAAP |
Cost-of-sales ratio
FYE Dec 2025 43.2%
Average · 10 yrs 50.5%
| Fiscal year | Cost-of-sales ratio % | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 55.8 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 54.2 | −1.6pp | Cons. · Japanese GAAP |
| FYE Dec 2018 | 53.3 | −0.9pp | Cons. · Japanese GAAP |
| FYE Dec 2019 | 52.5 | −0.8pp | Cons. · Japanese GAAP |
| FYE Dec 2020 | 53.5 | +1.1pp | Cons. · Japanese GAAP |
| FYE Dec 2021 | 50.5 | −3.0pp | Cons. · Japanese GAAP |
| FYE Dec 2022 | 50.3 | −0.2pp | Cons. · Japanese GAAP |
| FYE Dec 2023 | 48.0 | −2.4pp | Cons. · Japanese GAAP |
| FYE Dec 2024 | 44.2 | −3.8pp | Cons. · Japanese GAAP |
| FYE Dec 2025 | 43.2 | −1.0pp | Cons. · Japanese GAAP |
SG&A ratio
FYE Dec 2025 39.2%
Average · 10 yrs 42.5%
| Fiscal year | SG&A ratio % | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 37.9 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 40.9 | +3.1pp | Cons. · Japanese GAAP |
| FYE Dec 2018 | 44.0 | +3.1pp | Cons. · Japanese GAAP |
| FYE Dec 2019 | 44.7 | +0.7pp | Cons. · Japanese GAAP |
| FYE Dec 2020 | 47.7 | +3.0pp | Cons. · Japanese GAAP |
| FYE Dec 2021 | 44.0 | −3.7pp | Cons. · Japanese GAAP |
| FYE Dec 2022 | 42.7 | −1.4pp | Cons. · Japanese GAAP |
| FYE Dec 2023 | 42.5 | −0.1pp | Cons. · Japanese GAAP |
| FYE Dec 2024 | 41.1 | −1.5pp | Cons. · Japanese GAAP |
| FYE Dec 2025 | 39.2 | −1.9pp | Cons. · Japanese GAAP |
Balance sheet Assets, debt and equity, and what they say about financial strength
What the balance sheet is made of
¥ bnFinancial strength
%Total assets
FYE Dec 2025 ¥586bn
CAGR · 10 yrs +6.1%
| Fiscal year | Total assets ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 343 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 348 | +1.6% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 304 | −12.6% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 316 | +3.8% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 333 | +5.4% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 346 | +3.8% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 425 | +22.9% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 464 | +9.2% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 519 | +11.8% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 586 | +13.0% | Cons. · Japanese GAAP |
Equity net assets, shareholders' equity
FYE Dec 2025 ¥272bn
CAGR · 10 yrs +3.5%
| Fiscal year | Equity ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 200 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 200 | −0.1% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 165 | −17.3% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 152 | −7.9% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 127 | −16.8% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 146 | +15.6% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 171 | +16.7% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 205 | +20.0% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 233 | +13.8% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 272 | +16.5% | Cons. · Japanese GAAP |
Interest-bearing debt
FYE Dec 2025 ¥13bn
CAGR · 10 yrs +6.8%
| Fiscal year | Interest-bearing debt ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 6.9 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 5.7 | −17.8% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 1.5 | −74.0% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 6.4 | +334.6% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 8.7 | +36.1% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 7.7 | −11.7% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 24.9 | +223.4% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 2.6 | −89.6% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 37.5 | +1349.6% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 12.5 | −66.7% | Cons. · Japanese GAAP |
Short-term borrowings
FYE Dec 2025 ¥2.5bn
CAGR · 10 yrs −1.7%
| Fiscal year | Short-term borrowings ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 2.9 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 5.6 | +91.6% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 1.3 | −76.2% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 6.4 | +382.3% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 6.2 | −2.7% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 5.2 | −16.4% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 22.0 | +323.8% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 0.0 | −100.0% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 2.5 | +35614.3% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 2.5 | −0.0% | Cons. · Japanese GAAP |
Long-term borrowings
FYE Dec 2025 ¥10bn
CAGR · 10 yrs +10.7%
| Fiscal year | Long-term borrowings ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 4.0 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 0.1 | −97.5% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 0.1 | +49.0% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 0.0 | −89.9% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 2.5 | +16566.7% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 2.5 | −0.0% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 2.9 | +14.5% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 2.6 | −9.9% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 35.0 | +1256.6% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 10.0 | −71.4% | Cons. · Japanese GAAP |
Intangible assets
FYE Dec 2025 ¥104bn
CAGR · 10 yrs +15.9%
| Fiscal year | Intangible assets ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 27.6 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 26.3 | −4.4% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 8.5 | −67.8% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 40.4 | +375.7% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 43.2 | +7.1% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 46.8 | +8.4% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 70.2 | +49.8% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 78.3 | +11.6% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 90.8 | +15.9% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 104 | +14.5% | Cons. · Japanese GAAP |
Goodwill
FYE Dec 2025 ¥5.7bn
CAGR · 10 yrs −8.2%
| Fiscal year | Goodwill ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 12.4 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 10.9 | −11.6% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 0.0 | −100.0% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 2.8 | +56500.0% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 2.5 | −13.0% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 2.9 | +16.0% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 7.1 | +150.1% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 6.3 | −12.5% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 6.0 | −4.6% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 5.7 | −4.2% | Cons. · Japanese GAAP |
Equity ratio
FYE Dec 2025 46.3%
Average · 10 yrs 47.4%
| Fiscal year | Equity ratio % | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 58.4 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 57.4 | −1.0pp | Cons. · Japanese GAAP |
| FYE Dec 2018 | 54.3 | −3.1pp | Cons. · Japanese GAAP |
| FYE Dec 2019 | 48.1 | −6.1pp | Cons. · Japanese GAAP |
| FYE Dec 2020 | 38.0 | −10.1pp | Cons. · Japanese GAAP |
| FYE Dec 2021 | 42.3 | +4.3pp | Cons. · Japanese GAAP |
| FYE Dec 2022 | 40.2 | −2.1pp | Cons. · Japanese GAAP |
| FYE Dec 2023 | 44.2 | +4.0pp | Cons. · Japanese GAAP |
| FYE Dec 2024 | 45.0 | +0.8pp | Cons. · Japanese GAAP |
| FYE Dec 2025 | 46.3 | +1.4pp | Cons. · Japanese GAAP |
Debt-to-equity ratio D/E ratio
FYE Dec 2025 4.6%
Average · 10 yrs 6.0%
| Fiscal year | Debt-to-equity ratio % | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 3.5 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 2.8 | −0.6pp | Cons. · Japanese GAAP |
| FYE Dec 2018 | 0.9 | −1.9pp | Cons. · Japanese GAAP |
| FYE Dec 2019 | 4.2 | +3.3pp | Cons. · Japanese GAAP |
| FYE Dec 2020 | 6.9 | +2.7pp | Cons. · Japanese GAAP |
| FYE Dec 2021 | 5.3 | −1.6pp | Cons. · Japanese GAAP |
| FYE Dec 2022 | 14.6 | +9.3pp | Cons. · Japanese GAAP |
| FYE Dec 2023 | 1.3 | −13.3pp | Cons. · Japanese GAAP |
| FYE Dec 2024 | 16.1 | +14.8pp | Cons. · Japanese GAAP |
| FYE Dec 2025 | 4.6 | −11.5pp | Cons. · Japanese GAAP |
ROE return on equity
FYE Dec 2025 36.3%
Average · 10 yrs 9.3%
| Fiscal year | ROE % | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 7.8 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 6.5 | −1.3pp | Cons. · Japanese GAAP |
| FYE Dec 2018 | -12.3 | −18.8pp | Cons. · Japanese GAAP |
| FYE Dec 2019 | 4.7 | +17.0pp | Cons. · Japanese GAAP |
| FYE Dec 2020 | -12.7 | −17.4pp | Cons. · Japanese GAAP |
| FYE Dec 2021 | 6.4 | +19.2pp | Cons. · Japanese GAAP |
| FYE Dec 2022 | 11.6 | +5.2pp | Cons. · Japanese GAAP |
| FYE Dec 2023 | 17.2 | +5.6pp | Cons. · Japanese GAAP |
| FYE Dec 2024 | 27.4 | +10.2pp | Cons. · Japanese GAAP |
| FYE Dec 2025 | 36.3 | +9.0pp | Cons. · Japanese GAAP |
ROA return on assets
FYE Dec 2025 16.8%
Average · 10 yrs 4.3%
| Fiscal year | ROA % | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 4.5 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 3.7 | −0.8pp | Cons. · Japanese GAAP |
| FYE Dec 2018 | -6.7 | −10.4pp | Cons. · Japanese GAAP |
| FYE Dec 2019 | 2.2 | +8.9pp | Cons. · Japanese GAAP |
| FYE Dec 2020 | -4.8 | −7.1pp | Cons. · Japanese GAAP |
| FYE Dec 2021 | 2.7 | +7.6pp | Cons. · Japanese GAAP |
| FYE Dec 2022 | 4.7 | +2.0pp | Cons. · Japanese GAAP |
| FYE Dec 2023 | 7.6 | +2.9pp | Cons. · Japanese GAAP |
| FYE Dec 2024 | 12.3 | +4.7pp | Cons. · Japanese GAAP |
| FYE Dec 2025 | 16.8 | +4.5pp | Cons. · Japanese GAAP |
Asset turnover
FYE Dec 2025 1.38×
CAGR · 10 yrs +1.9%
| Fiscal year | Asset turnover × | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 1.16 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 1.15 | −1.3% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 1.27 | +10.5% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 1.20 | −5.8% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 0.99 | −17.5% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 1.17 | +18.4% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 1.14 | −2.4% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 1.23 | +7.8% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 1.31 | +6.4% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 1.38 | +5.8% | Cons. · Japanese GAAP |
Cash flow statement Cash from operations, investment and financing, and what is left on hand
The three cash flows
¥ bnCash against debt
¥ bnOperating cash flow
FYE Dec 2025 ¥110bn
CAGR · 10 yrs +12.5%
| Fiscal year | Operating cash flow ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 38.0 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 37.1 | −2.2% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 11.0 | −70.2% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 14.8 | +33.9% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 19.3 | +30.7% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 49.1 | +154.2% | Cons. · Japanese GAAP |
| FYE Dec 2022 | -21.4 | −143.6% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 90.1 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2024 | 105 | +16.1% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 110 | +5.1% | Cons. · Japanese GAAP |
Investing cash flow
FYE Dec 2025 -¥29bn
Average · 10 yrs -¥12bn
| Fiscal year | Investing cash flow ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | -14.0 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | -13.8 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2018 | -5.5 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2019 | -12.2 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2020 | -9.6 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2021 | -10.2 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2022 | -14.5 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2023 | -4.6 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2024 | -7.6 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2025 | -29.4 | n/a | Cons. · Japanese GAAP |
Financing cash flow
FYE Dec 2025 -¥106bn
Average · 10 yrs -¥28bn
| Fiscal year | Financing cash flow ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | -5.0 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | -11.5 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2018 | -13.8 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2019 | -29.5 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2020 | 31.3 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2021 | -26.0 | −182.9% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 2.3 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2023 | -40.3 | −1839.5% | Cons. · Japanese GAAP |
| FYE Dec 2024 | -84.3 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2025 | -106 | n/a | Cons. · Japanese GAAP |
Cash and equivalents
FYE Dec 2025 ¥112bn
CAGR · 10 yrs +6.5%
| Fiscal year | Cash and equivalents ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 63.6 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 78.1 | +22.7% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 65.9 | −15.7% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 38.0 | −42.3% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 80.5 | +111.9% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 95.3 | +18.4% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 65.8 | −30.9% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 113 | +72.2% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 127 | +12.1% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 112 | −11.6% | Cons. · Japanese GAAP |
Free cash flow
FYE Dec 2025 ¥80bn
CAGR · 10 yrs +14.4%
| Fiscal year | FCF ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 23.9 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 23.3 | −2.4% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 5.6 | −76.1% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 2.6 | −53.3% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 9.7 | +271.9% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 39.0 | +302.0% | Cons. · Japanese GAAP |
| FYE Dec 2022 | -35.9 | −192.1% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 85.5 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2024 | 97.1 | +13.6% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 80.5 | −17.1% | Cons. · Japanese GAAP |
Operating cash flow margin
FYE Dec 2025 13.6%
Average · 10 yrs 8.4%
| Fiscal year | OCF margin % | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 9.5 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 9.3 | −0.2pp | Cons. · Japanese GAAP |
| FYE Dec 2018 | 2.9 | −6.4pp | Cons. · Japanese GAAP |
| FYE Dec 2019 | 3.9 | +1.1pp | Cons. · Japanese GAAP |
| FYE Dec 2020 | 5.9 | +2.0pp | Cons. · Japanese GAAP |
| FYE Dec 2021 | 12.2 | +6.3pp | Cons. · Japanese GAAP |
| FYE Dec 2022 | -4.4 | −16.6pp | Cons. · Japanese GAAP |
| FYE Dec 2023 | 15.8 | +20.2pp | Cons. · Japanese GAAP |
| FYE Dec 2024 | 15.4 | −0.4pp | Cons. · Japanese GAAP |
| FYE Dec 2025 | 13.6 | −1.9pp | Cons. · Japanese GAAP |
Net cash
FYE Dec 2025 ¥100bn
CAGR · 10 yrs +6.5%
| Fiscal year | Net cash ¥ bn | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 56.7 | n/a | Cons. · Japanese GAAP |
| FYE Dec 2017 | 72.4 | +27.7% | Cons. · Japanese GAAP |
| FYE Dec 2018 | 64.4 | −11.1% | Cons. · Japanese GAAP |
| FYE Dec 2019 | 31.6 | −51.0% | Cons. · Japanese GAAP |
| FYE Dec 2020 | 71.8 | +127.2% | Cons. · Japanese GAAP |
| FYE Dec 2021 | 87.6 | +22.0% | Cons. · Japanese GAAP |
| FYE Dec 2022 | 40.9 | −53.3% | Cons. · Japanese GAAP |
| FYE Dec 2023 | 111 | +170.7% | Cons. · Japanese GAAP |
| FYE Dec 2024 | 89.5 | −19.2% | Cons. · Japanese GAAP |
| FYE Dec 2025 | 99.7 | +11.5% | Cons. · Japanese GAAP |
Shares and share price Shares outstanding, price, market capitalisation and the valuation multiples
Market capitalisation
FYE Dec 2025 ¥2.76tn
Change · 8 yrs +¥2.29tn
| Fiscal year | Market capitalisation ¥ bn | Basis |
|---|---|---|
| FYE Dec 2016 | 467 | n/a |
| FYE Dec 2017 | 359 | n/a |
| FYE Dec 2018 | n/a | n/a |
| FYE Dec 2019 | 345 | n/a |
| FYE Dec 2020 | n/a | n/a |
| FYE Dec 2021 | 484 | n/a |
| FYE Dec 2022 | 553 | n/a |
| FYE Dec 2023 | 837 | n/a |
| FYE Dec 2024 | 2,361 | n/a |
| FYE Dec 2025 | 2,760 | n/a |
Share price year-end close
FYE Dec 2025 3,757¥
Change · 8 yrs +1,420¥
| Fiscal year | Share price ¥ | Basis |
|---|---|---|
| FYE Dec 2016 | 2,337 | n/a |
| FYE Dec 2017 | 1,797 | n/a |
| FYE Dec 2018 | n/a | n/a |
| FYE Dec 2019 | 1,816 | n/a |
| FYE Dec 2020 | n/a | n/a |
| FYE Dec 2021 | 2,547 | n/a |
| FYE Dec 2022 | 2,910 | n/a |
| FYE Dec 2023 | 4,409 | n/a |
| FYE Dec 2024 | 3,108 | n/a |
| FYE Dec 2025 | 3,757 | n/a |
EPS earnings per share
FYE Dec 2025 138.13¥
Change · 10 yrs +56.12¥
| Fiscal year | EPS ¥ | Basis |
|---|---|---|
| FYE Dec 2016 | 82.01 | Cons. |
| FYE Dec 2017 | 68.33 | Cons. |
| FYE Dec 2018 | -107.59 | Cons. |
| FYE Dec 2019 | 37.91 | Cons. |
| FYE Dec 2020 | -22.04 | Cons. |
| FYE Dec 2021 | 12.84 | Cons. |
| FYE Dec 2022 | 27.15 | Cons. |
| FYE Dec 2023 | 48.13 | Cons. |
| FYE Dec 2024 | 88.30 | Cons. |
| FYE Dec 2025 | 138.13 | Cons. |
BPS book value per share
FYE Dec 2025 370.00¥
Change · 10 yrs −630.78¥
| Fiscal year | BPS ¥ | Basis |
|---|---|---|
| FYE Dec 2016 | 1,000.78 | Cons. · Japanese GAAP |
| FYE Dec 2017 | 999.63 | Cons. · Japanese GAAP |
| FYE Dec 2018 | 826.80 | Cons. · Japanese GAAP |
| FYE Dec 2019 | 801.51 | Cons. · Japanese GAAP |
| FYE Dec 2020 | 666.88 | Cons. · Japanese GAAP |
| FYE Dec 2021 | 771.02 | Cons. · Japanese GAAP |
| FYE Dec 2022 | 900.14 | Cons. · Japanese GAAP |
| FYE Dec 2023 | 1,080.11 | Cons. · Japanese GAAP |
| FYE Dec 2024 | 307.17 | Cons. · Japanese GAAP |
| FYE Dec 2025 | 370.00 | Cons. · Japanese GAAP |
PER price-to-earnings ratio
FYE Dec 2025 27.20×
Average · 8 yrs 33.05×
| Fiscal year | PER × | Basis |
|---|---|---|
| FYE Dec 2016 | 28.50 | Cons. |
| FYE Dec 2017 | 26.30 | Cons. |
| FYE Dec 2018 | n/a | Cons. |
| FYE Dec 2019 | 47.90 | Cons. |
| FYE Dec 2020 | n/a | Cons. |
| FYE Dec 2021 | 49.60 | Cons. |
| FYE Dec 2022 | 26.80 | Cons. |
| FYE Dec 2023 | 22.90 | Cons. |
| FYE Dec 2024 | 35.20 | Cons. |
| FYE Dec 2025 | 27.20 | Cons. |
PBR price-to-book ratio
FYE Dec 2025 9.81×
Average · 8 yrs 4.47×
| Fiscal year | PBR × | Basis |
|---|---|---|
| FYE Dec 2016 | 2.22 | Cons. |
| FYE Dec 2017 | 1.71 | Cons. |
| FYE Dec 2018 | n/a | Cons. |
| FYE Dec 2019 | 2.19 | Cons. |
| FYE Dec 2020 | n/a | Cons. |
| FYE Dec 2021 | 3.19 | Cons. |
| FYE Dec 2022 | 3.12 | Cons. |
| FYE Dec 2023 | 3.94 | Cons. |
| FYE Dec 2024 | 9.55 | Cons. |
| FYE Dec 2025 | 9.81 | Cons. |
Workforce and productivity Headcount, pay and what each employee accounts for
Group employees
FYE Dec 2025 9,455people
Change · 10 yrs +1,591 people
| Fiscal year | Group employees people | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 7,864 | n/a | Cons. |
| FYE Dec 2017 | 8,586 | +9.2% | Cons. |
| FYE Dec 2018 | 8,823 | +2.8% | Cons. |
| FYE Dec 2019 | 9,039 | +2.4% | Cons. |
| FYE Dec 2020 | 8,904 | −1.5% | Cons. |
| FYE Dec 2021 | 8,861 | −0.5% | Cons. |
| FYE Dec 2022 | 8,886 | +0.3% | Cons. |
| FYE Dec 2023 | 8,927 | +0.5% | Cons. |
| FYE Dec 2024 | 8,987 | +0.7% | Cons. |
| FYE Dec 2025 | 9,455 | +5.2% | Cons. |
Parent-company employees
FYE Dec 2025 988people
Change · 10 yrs +88 people
| Fiscal year | Parent-company employees people | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 900 | n/a | Parent |
| FYE Dec 2017 | 942 | +4.7% | Parent |
| FYE Dec 2018 | 932 | −1.1% | Parent |
| FYE Dec 2019 | 905 | −2.9% | Parent |
| FYE Dec 2020 | 998 | +10.3% | Parent |
| FYE Dec 2021 | 972 | −2.6% | Parent |
| FYE Dec 2022 | 982 | +1.0% | Parent |
| FYE Dec 2023 | 989 | +0.7% | Parent |
| FYE Dec 2024 | 979 | −1.0% | Parent |
| FYE Dec 2025 | 988 | +0.9% | Parent |
Average annual pay parent company
FYE Dec 2025 ¥10.8m
Change · 7 yrs +¥3.1m
| 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 | 7.7 | n/a | Parent |
| FYE Dec 2020 | 7.8 | +1.3% | Parent |
| FYE Dec 2021 | 8.7 | +11.2% | Parent |
| FYE Dec 2022 | 8.6 | −0.2% | Parent |
| FYE Dec 2023 | 9.0 | +4.0% | Parent |
| FYE Dec 2024 | 10.0 | +11.1% | Parent |
| FYE Dec 2025 | 10.8 | +8.2% | Parent |
Average age
FYE Dec 2025 40.4years
Change · 7 yrs +1.0 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 | 39.4 | n/a | Parent |
| FYE Dec 2020 | 40.7 | +3.3% | Parent |
| FYE Dec 2021 | 40.9 | +0.5% | Parent |
| FYE Dec 2022 | 41.2 | +0.7% | Parent |
| FYE Dec 2023 | 41.3 | +0.2% | Parent |
| FYE Dec 2024 | 40.8 | −1.2% | Parent |
| FYE Dec 2025 | 40.4 | −1.0% | Parent |
Average length of service
FYE Dec 2025 12.2years
Change · 7 yrs +0.1 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 | 12.1 | n/a | Parent |
| FYE Dec 2020 | 13.1 | +8.3% | Parent |
| FYE Dec 2021 | 13.5 | +3.1% | Parent |
| FYE Dec 2022 | 13.9 | +3.0% | Parent |
| FYE Dec 2023 | 13.8 | −0.7% | Parent |
| FYE Dec 2024 | 13.0 | −5.8% | Parent |
| FYE Dec 2025 | 12.2 | −6.2% | Parent |
Temporary employees
FYE Dec 2025 1,546people
Change · 10 yrs −466 people
| Fiscal year | Temporary employees people | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 2,012 | n/a | n/a |
| FYE Dec 2017 | 2,114 | +5.1% | n/a |
| FYE Dec 2018 | 1,904 | −9.9% | n/a |
| FYE Dec 2019 | 1,814 | −4.7% | n/a |
| FYE Dec 2020 | 1,779 | −1.9% | n/a |
| FYE Dec 2021 | 1,570 | −11.7% | n/a |
| FYE Dec 2022 | 1,514 | −3.6% | n/a |
| FYE Dec 2023 | 1,479 | −2.3% | n/a |
| FYE Dec 2024 | 1,459 | −1.4% | n/a |
| FYE Dec 2025 | 1,546 | +6.0% | n/a |
Revenue per employee
FYE Dec 2025 ¥85.8m
Change · 10 yrs +¥35.0m
| Fiscal year | Revenue per employee ¥ m | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 50.8 | n/a | Cons. |
| FYE Dec 2017 | 46.6 | −8.2% | Cons. |
| FYE Dec 2018 | 43.8 | −6.0% | Cons. |
| FYE Dec 2019 | 41.8 | −4.6% | Cons. |
| FYE Dec 2020 | 36.9 | −11.7% | Cons. |
| FYE Dec 2021 | 45.6 | +23.5% | Cons. |
| FYE Dec 2022 | 54.5 | +19.6% | Cons. |
| FYE Dec 2023 | 63.9 | +17.2% | Cons. |
| FYE Dec 2024 | 75.5 | +18.1% | Cons. |
| FYE Dec 2025 | 85.8 | +13.6% | Cons. |
Operating profit per employee
FYE Dec 2025 ¥15.1m
Change · 10 yrs +¥11.8m
| Fiscal year | OP per employee ¥ m | YoY | Basis |
|---|---|---|---|
| FYE Dec 2016 | 3.2 | n/a | Cons. |
| FYE Dec 2017 | 2.3 | −29.6% | Cons. |
| FYE Dec 2018 | 1.2 | −47.7% | Cons. |
| FYE Dec 2019 | 1.2 | −1.3% | Cons. |
| FYE Dec 2020 | -0.4 | −137.7% | Cons. |
| FYE Dec 2021 | 2.5 | n/a | Cons. |
| FYE Dec 2022 | 3.8 | +54.5% | Cons. |
| FYE Dec 2023 | 6.1 | +58.7% | Cons. |
| FYE Dec 2024 | 11.1 | +83.4% | Cons. |
| FYE Dec 2025 | 15.1 | +35.3% | Cons. |
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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