Financials

Sanyo Shokai: FYE Feb 2026 and ten years of results (50 metrics)

FYE Feb 2026 · Revenue¥58bnYoY −3.4%

FYE Feb 2026 · Operating profit¥1.3bnYoY −52.2%

FYE Feb 2026 · Net profit¥4.1bnYoY +2.6%

FYE Feb 2026 · Equity ratio68.3%YoY −0.6pp

FYE Feb 2026 · Group employees1,125YoY −24

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Dec 2016Consolidated	¥68bn	n/a	-¥8.4bn	n/a	-12.5%	-¥11bn	Sugiura Masahiko	—
FYE Dec 2017Consolidated	¥63bn	−7.5%	-¥1.9bn	n/a	-3.0%	-¥1.0bn	Iwata Isao	<a class="en-history_person" href="/tse/8011/executives/ceo/iwata-isao/" hreflang="ja">Iwata Isao</a> becomes sixth president; a medium-term plan is announced
FYE Dec 2018Consolidated	¥59bn	−5.5%	-¥2.2bn	n/a	-3.7%	-¥0.8bn	Iwata Isao	Shares in Ruby Group acquired; head-office annex extended as the Blue Cross building
FYE Feb 2020Consolidated	¥69bn	+16.5%	-¥2.9bn	n/a	-4.2%	-¥2.7bn	Iwata Isao	—
FYE Feb 2021Consolidated	¥38bn	−44.9%	-¥8.9bn	n/a	-23.5%	-¥5.0bn	Oe Shinji	The rebuilding plan is announced under the pandemic
FYE Feb 2022Consolidated	¥39bn	+1.9%	-¥1.1bn	n/a	-2.7%	¥0.7bn	Oe Shinji	Domestic trademark rights to Paul Stuart acquired
FYE Feb 2023Consolidated	¥58bn	+50.8%	¥2.2bn	n/a	3.8%	¥2.2bn	Oe Shinji	Moves to the Prime Market of the Tokyo Stock Exchange
FYE Feb 2024Consolidated	¥61bn	+5.3%	¥3.0bn	+36.3%	5.0%	¥2.8bn	Oe Shinji	Eightieth anniversary of the founding
FYE Feb 2025Consolidated	¥61bn	−1.3%	¥2.7bn	−10.9%	4.5%	¥4.0bn	Oe Shinji	—
FYE Feb 2026Consolidated	¥58bn	−3.4%	¥1.3bn	−52.2%	2.2%	¥4.1bn	Oe Shinji	New three-year medium-term management plan announced

How it compares

and ST Holdings¥304bnFY2025Operating margin 5.4%World¥284bnFY2025Operating margin 5.6%Pal Group Holdings¥235bnFY2025Operating margin 11.6%

Nishimatsuyachen¥193bnFY2025Operating margin 5.1%

Wacoal Holdings¥172bnFY2025Operating margin 11.6%

United Arrows¥165bnFY2025Operating margin 5.5%

Sanyo Shokai¥58bnFY2025Operating margin 2.2%

Renown IncorporatedDelisted 2020 TOKYO BASE¥24bnFY2025Operating margin 8.2%

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 Feb 2026 ¥58bn

CAGR · 10 yrs −1.6%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Dec 2016	67.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	62.5	−7.5%	Cons. · Japanese GAAP
FYE Dec 2018	59.1	−5.5%	Cons. · Japanese GAAP
FYE Feb 2020	68.9	+16.5%	Cons. · Japanese GAAP
FYE Feb 2021	37.9	−44.9%	Cons. · Japanese GAAP
FYE Feb 2022	38.6	+1.9%	Cons. · Japanese GAAP
FYE Feb 2023	58.3	+50.8%	Cons. · Japanese GAAP
FYE Feb 2024	61.4	+5.3%	Cons. · Japanese GAAP
FYE Feb 2025	60.5	−1.3%	Cons. · Japanese GAAP
FYE Feb 2026	58.4	−3.4%	Cons. · Japanese GAAP

Definition: Everything the company took in from its own business
Formula: Revenue line of the income statement
Source: Securities report (XBRL)

Cost of sales

FYE Feb 2026 ¥23bn

CAGR · 10 yrs −5.9%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Dec 2016	39.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	33.4	−15.2%	Cons. · Japanese GAAP
FYE Dec 2018	30.5	−8.7%	Cons. · Japanese GAAP
FYE Feb 2020	36.9	+21.1%	Cons. · Japanese GAAP
FYE Feb 2021	23.4	−36.6%	Cons. · Japanese GAAP
FYE Feb 2022	20.1	−14.2%	Cons. · Japanese GAAP
FYE Feb 2023	22.2	+10.3%	Cons. · Japanese GAAP
FYE Feb 2024	23.2	+4.6%	Cons. · Japanese GAAP
FYE Feb 2025	22.7	−2.0%	Cons. · Japanese GAAP
FYE Feb 2026	22.9	+0.6%	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 Feb 2026 ¥36bn

CAGR · 10 yrs +2.6%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Dec 2016	28.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	29.1	+3.3%	Cons. · Japanese GAAP
FYE Dec 2018	28.6	−1.9%	Cons. · Japanese GAAP
FYE Feb 2020	31.9	+11.7%	Cons. · Japanese GAAP
FYE Feb 2021	14.5	−54.5%	Cons. · Japanese GAAP
FYE Feb 2022	18.5	+27.8%	Cons. · Japanese GAAP
FYE Feb 2023	36.1	+94.7%	Cons. · Japanese GAAP
FYE Feb 2024	38.2	+5.7%	Cons. · Japanese GAAP
FYE Feb 2025	37.8	−1.0%	Cons. · Japanese GAAP
FYE Feb 2026	35.6	−5.9%	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 Feb 2026 ¥34bn

CAGR · 10 yrs −0.7%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Dec 2016	36.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	31.1	−15.3%	Cons. · Japanese GAAP
FYE Dec 2018	30.8	−1.0%	Cons. · Japanese GAAP
FYE Feb 2020	34.8	+13.2%	Cons. · Japanese GAAP
FYE Feb 2021	23.4	−32.7%	Cons. · Japanese GAAP
FYE Feb 2022	19.6	−16.3%	Cons. · Japanese GAAP
FYE Feb 2023	33.9	+72.8%	Cons. · Japanese GAAP
FYE Feb 2024	35.1	+3.7%	Cons. · Japanese GAAP
FYE Feb 2025	35.1	−0.1%	Cons. · Japanese GAAP
FYE Feb 2026	34.3	−2.3%	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 Feb 2026 ¥1.3bn

Average · 10 yrs -¥1.6bn

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Dec 2016	-8.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-1.9	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-2.2	n/a	Cons. · Japanese GAAP
FYE Feb 2020	-2.9	n/a	Cons. · Japanese GAAP
FYE Feb 2021	-8.9	n/a	Cons. · Japanese GAAP
FYE Feb 2022	-1.1	n/a	Cons. · Japanese GAAP
FYE Feb 2023	2.2	n/a	Cons. · Japanese GAAP
FYE Feb 2024	3.0	+36.3%	Cons. · Japanese GAAP
FYE Feb 2025	2.7	−10.9%	Cons. · Japanese GAAP
FYE Feb 2026	1.3	−52.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Feb 2026 ¥324m

CAGR · 10 yrs −3.0%

Fiscal year	Non-operating income ¥ m	YoY	Basis
FYE Dec 2016	426	n/a	Cons. · Japanese GAAP
FYE Dec 2017	369	−13.4%	Cons. · Japanese GAAP
FYE Dec 2018	442	+19.8%	Cons. · Japanese GAAP
FYE Feb 2020	422	−4.5%	Cons. · Japanese GAAP
FYE Feb 2021	303	−28.2%	Cons. · Japanese GAAP
FYE Feb 2022	499	+64.7%	Cons. · Japanese GAAP
FYE Feb 2023	319	−36.1%	Cons. · Japanese GAAP
FYE Feb 2024	254	−20.4%	Cons. · Japanese GAAP
FYE Feb 2025	311	+22.4%	Cons. · Japanese GAAP
FYE Feb 2026	324	+4.2%	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 Feb 2026 ¥186m

CAGR · 10 yrs −0.4%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Dec 2016	192	n/a	Cons. · Japanese GAAP
FYE Dec 2017	403	+109.9%	Cons. · Japanese GAAP
FYE Dec 2018	217	−46.2%	Cons. · Japanese GAAP
FYE Feb 2020	446	+105.5%	Cons. · Japanese GAAP
FYE Feb 2021	426	−4.5%	Cons. · Japanese GAAP
FYE Feb 2022	176	−58.7%	Cons. · Japanese GAAP
FYE Feb 2023	118	−33.0%	Cons. · Japanese GAAP
FYE Feb 2024	117	−0.8%	Cons. · Japanese GAAP
FYE Feb 2025	200	+70.9%	Cons. · Japanese GAAP
FYE Feb 2026	186	−7.0%	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 Feb 2026 ¥1.4bn

Average · 10 yrs -¥1.5bn

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Dec 2016	-8.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-1.9	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-2.0	n/a	Cons. · Japanese GAAP
FYE Feb 2020	-2.9	n/a	Cons. · Japanese GAAP
FYE Feb 2021	-9.0	n/a	Cons. · Japanese GAAP
FYE Feb 2022	-0.7	n/a	Cons. · Japanese GAAP
FYE Feb 2023	2.4	n/a	Cons. · Japanese GAAP
FYE Feb 2024	3.2	+30.7%	Cons. · Japanese GAAP
FYE Feb 2025	2.8	−11.3%	Cons. · Japanese GAAP
FYE Feb 2026	1.4	−49.2%	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 Feb 2026 ¥4.1bn

CAGR · 10 yrs +1.7%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Dec 2016	3.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	2.0	−43.0%	Cons. · Japanese GAAP
FYE Dec 2018	4.1	+103.4%	Cons. · Japanese GAAP
FYE Feb 2020	1.8	−55.4%	Cons. · Japanese GAAP
FYE Feb 2021	8.5	+363.2%	Cons. · Japanese GAAP
FYE Feb 2022	2.1	−75.7%	Cons. · Japanese GAAP
FYE Feb 2023	0.1	−96.7%	Cons. · Japanese GAAP
FYE Feb 2024	0.0	−34.3%	Cons. · Japanese GAAP
FYE Feb 2025	1.9	+4254.5%	Cons. · Japanese GAAP
FYE Feb 2026	4.1	+114.8%	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 Feb 2026 ¥4.1bn

Average · 10 yrs -¥0.7bn

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Dec 2016	-11.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-1.0	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-0.8	n/a	Cons. · Japanese GAAP
FYE Feb 2020	-2.7	n/a	Cons. · Japanese GAAP
FYE Feb 2021	-5.0	n/a	Cons. · Japanese GAAP
FYE Feb 2022	0.7	n/a	Cons. · Japanese GAAP
FYE Feb 2023	2.2	+226.0%	Cons. · Japanese GAAP
FYE Feb 2024	2.8	+29.3%	Cons. · Japanese GAAP
FYE Feb 2025	4.0	+43.8%	Cons. · Japanese GAAP
FYE Feb 2026	4.1	+2.6%	Cons. · Japanese GAAP

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

Gross margin

FYE Feb 2026 60.9%

Average · 10 yrs 51.7%

Fiscal year	Gross margin %	YoY	Basis
FYE Dec 2016	41.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	46.6	+4.8pp	Cons. · Japanese GAAP
FYE Dec 2018	48.4	+1.8pp	Cons. · Japanese GAAP
FYE Feb 2020	46.4	−2.0pp	Cons. · Japanese GAAP
FYE Feb 2021	38.3	−8.1pp	Cons. · Japanese GAAP
FYE Feb 2022	48.0	+9.7pp	Cons. · Japanese GAAP
FYE Feb 2023	62.0	+14.0pp	Cons. · Japanese GAAP
FYE Feb 2024	62.2	+0.2pp	Cons. · Japanese GAAP
FYE Feb 2025	62.5	+0.2pp	Cons. · Japanese GAAP
FYE Feb 2026	60.9	−1.6pp	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 Feb 2026 2.2%

Average · 10 yrs -3.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Dec 2016	-12.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-3.0	+9.4pp	Cons. · Japanese GAAP
FYE Dec 2018	-3.7	−0.6pp	Cons. · Japanese GAAP
FYE Feb 2020	-4.2	−0.5pp	Cons. · Japanese GAAP
FYE Feb 2021	-23.5	−19.3pp	Cons. · Japanese GAAP
FYE Feb 2022	-2.7	+20.8pp	Cons. · Japanese GAAP
FYE Feb 2023	3.8	+6.6pp	Cons. · Japanese GAAP
FYE Feb 2024	5.0	+1.1pp	Cons. · Japanese GAAP
FYE Feb 2025	4.5	−0.5pp	Cons. · Japanese GAAP
FYE Feb 2026	2.2	−2.3pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Feb 2026 2.5%

Average · 10 yrs -3.2%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Dec 2016	-12.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-3.1	+9.0pp	Cons. · Japanese GAAP
FYE Dec 2018	-3.3	−0.2pp	Cons. · Japanese GAAP
FYE Feb 2020	-4.2	−0.9pp	Cons. · Japanese GAAP
FYE Feb 2021	-23.8	−19.6pp	Cons. · Japanese GAAP
FYE Feb 2022	-1.9	+21.9pp	Cons. · Japanese GAAP
FYE Feb 2023	4.2	+6.1pp	Cons. · Japanese GAAP
FYE Feb 2024	5.2	+1.0pp	Cons. · Japanese GAAP
FYE Feb 2025	4.7	−0.5pp	Cons. · Japanese GAAP
FYE Feb 2026	2.5	−2.2pp	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 Feb 2026 7.0%

Average · 10 yrs -1.3%

Fiscal year	Net margin %	YoY	Basis
FYE Dec 2016	-16.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-1.6	+15.2pp	Cons. · Japanese GAAP
FYE Dec 2018	-1.4	+0.3pp	Cons. · Japanese GAAP
FYE Feb 2020	-3.9	−2.5pp	Cons. · Japanese GAAP
FYE Feb 2021	-13.1	−9.2pp	Cons. · Japanese GAAP
FYE Feb 2022	1.7	+14.9pp	Cons. · Japanese GAAP
FYE Feb 2023	3.7	+2.0pp	Cons. · Japanese GAAP
FYE Feb 2024	4.5	+0.8pp	Cons. · Japanese GAAP
FYE Feb 2025	6.6	+2.1pp	Cons. · Japanese GAAP
FYE Feb 2026	7.0	+0.4pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Feb 2026 39.1%

Average · 10 yrs 48.3%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Dec 2016	58.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	53.4	−4.8pp	Cons. · Japanese GAAP
FYE Dec 2018	51.6	−1.8pp	Cons. · Japanese GAAP
FYE Feb 2020	53.6	+2.0pp	Cons. · Japanese GAAP
FYE Feb 2021	61.7	+8.1pp	Cons. · Japanese GAAP
FYE Feb 2022	52.0	−9.7pp	Cons. · Japanese GAAP
FYE Feb 2023	38.0	−14.0pp	Cons. · Japanese GAAP
FYE Feb 2024	37.8	−0.2pp	Cons. · Japanese GAAP
FYE Feb 2025	37.5	−0.3pp	Cons. · Japanese GAAP
FYE Feb 2026	39.1	+1.6pp	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 Feb 2026 58.7%

Average · 10 yrs 55.1%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Dec 2016	54.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	49.7	−4.6pp	Cons. · Japanese GAAP
FYE Dec 2018	52.1	+2.4pp	Cons. · Japanese GAAP
FYE Feb 2020	50.5	−1.5pp	Cons. · Japanese GAAP
FYE Feb 2021	61.8	+11.2pp	Cons. · Japanese GAAP
FYE Feb 2022	50.7	−11.0pp	Cons. · Japanese GAAP
FYE Feb 2023	58.1	+7.4pp	Cons. · Japanese GAAP
FYE Feb 2024	57.2	−0.9pp	Cons. · Japanese GAAP
FYE Feb 2025	58.0	+0.7pp	Cons. · Japanese GAAP
FYE Feb 2026	58.7	+0.7pp	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 Feb 2026 ¥60bn

CAGR · 10 yrs −3.3%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Dec 2016	80.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	75.5	−6.5%	Cons. · Japanese GAAP
FYE Dec 2018	73.8	−2.3%	Cons. · Japanese GAAP
FYE Feb 2020	62.4	−15.5%	Cons. · Japanese GAAP
FYE Feb 2021	52.9	−15.2%	Cons. · Japanese GAAP
FYE Feb 2022	51.6	−2.5%	Cons. · Japanese GAAP
FYE Feb 2023	54.4	+5.4%	Cons. · Japanese GAAP
FYE Feb 2024	58.8	+8.0%	Cons. · Japanese GAAP
FYE Feb 2025	57.0	−3.0%	Cons. · Japanese GAAP
FYE Feb 2026	59.9	+5.0%	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 Feb 2026 ¥41bn

CAGR · 10 yrs −2.1%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Dec 2016	49.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	48.8	−1.4%	Cons. · Japanese GAAP
FYE Dec 2018	45.3	−7.2%	Cons. · Japanese GAAP
FYE Feb 2020	38.7	−14.6%	Cons. · Japanese GAAP
FYE Feb 2021	33.5	−13.5%	Cons. · Japanese GAAP
FYE Feb 2022	33.8	+0.9%	Cons. · Japanese GAAP
FYE Feb 2023	36.4	+7.9%	Cons. · Japanese GAAP
FYE Feb 2024	41.2	+13.2%	Cons. · Japanese GAAP
FYE Feb 2025	39.3	−4.8%	Cons. · Japanese GAAP
FYE Feb 2026	40.9	+4.1%	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 Feb 2026 ¥7.3bn

CAGR · 10 yrs −2.5%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Dec 2016	9.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	8.8	−4.3%	Cons. · Japanese GAAP
FYE Dec 2018	9.0	+2.6%	Cons. · Japanese GAAP
FYE Feb 2020	9.0	−0.1%	Cons. · Japanese GAAP
FYE Feb 2021	6.0	−33.5%	Cons. · Japanese GAAP
FYE Feb 2022	4.0	−33.3%	Cons. · Japanese GAAP
FYE Feb 2023	6.8	+70.0%	Cons. · Japanese GAAP
FYE Feb 2024	6.8	−0.0%	Cons. · Japanese GAAP
FYE Feb 2025	6.9	+1.9%	Cons. · Japanese GAAP
FYE Feb 2026	7.3	+5.7%	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Feb 2026 ¥2.2bn

CAGR · 10 yrs +5.0%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	1.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	6.8	+385.7%	Cons. · Japanese GAAP
FYE Dec 2018	1.0	−84.9%	Cons. · Japanese GAAP
FYE Feb 2020	9.0	+776.3%	Cons. · Japanese GAAP
FYE Feb 2021	3.2	−64.4%	Cons. · Japanese GAAP
FYE Feb 2022	3.0	−6.2%	Cons. · Japanese GAAP
FYE Feb 2023	3.0	−0.0%	Cons. · Japanese GAAP
FYE Feb 2024	2.9	−4.3%	Cons. · Japanese GAAP
FYE Feb 2025	3.1	+9.4%	Cons. · Japanese GAAP
FYE Feb 2026	2.2	−30.7%	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 Feb 2026 ¥5.2bn

CAGR · 10 yrs −4.5%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	7.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	2.0	−74.4%	Cons. · Japanese GAAP
FYE Dec 2018	8.0	+300.0%	Cons. · Japanese GAAP
FYE Feb 2020	0.0	−99.7%	Cons. · Japanese GAAP
FYE Feb 2021	2.8	+13900.0%	Cons. · Japanese GAAP
FYE Feb 2022	1.0	−64.3%	Cons. · Japanese GAAP
FYE Feb 2023	3.8	+280.0%	Cons. · Japanese GAAP
FYE Feb 2024	3.9	+3.4%	Cons. · Japanese GAAP
FYE Feb 2025	3.8	−3.6%	Cons. · Japanese GAAP
FYE Feb 2026	5.2	+35.9%	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 Feb 2026 ¥2.7bn

CAGR · 10 yrs +4.3%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Dec 2016	1.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.5	−17.3%	Cons. · Japanese GAAP
FYE Dec 2018	3.0	+94.5%	Cons. · Japanese GAAP
FYE Feb 2020	3.0	−0.6%	Cons. · Japanese GAAP
FYE Feb 2021	2.2	−27.4%	Cons. · Japanese GAAP
FYE Feb 2022	3.9	+82.2%	Cons. · Japanese GAAP
FYE Feb 2023	3.2	−18.3%	Cons. · Japanese GAAP
FYE Feb 2024	3.1	−3.7%	Cons. · Japanese GAAP
FYE Feb 2025	2.8	−11.5%	Cons. · Japanese GAAP
FYE Feb 2026	2.7	−1.2%	Cons. · Japanese GAAP

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

Goodwill

FYE Feb 2026 n/a

CAGR · 3 yrs −15.3%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Dec 2016	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Dec 2018	1.7	n/a	Cons. · Japanese GAAP
FYE Feb 2020	1.6	−10.3%	Cons. · Japanese GAAP
FYE Feb 2021	1.2	−20.1%	Cons. · Japanese GAAP
FYE Feb 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 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 Feb 2026 68.3%

Average · 10 yrs 65.2%

Fiscal year	Equity ratio %	YoY	Basis
FYE Dec 2016	61.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	64.6	+3.3pp	Cons. · Japanese GAAP
FYE Dec 2018	61.4	−3.2pp	Cons. · Japanese GAAP
FYE Feb 2020	62.0	+0.6pp	Cons. · Japanese GAAP
FYE Feb 2021	63.2	+1.2pp	Cons. · Japanese GAAP
FYE Feb 2022	65.4	+2.2pp	Cons. · Japanese GAAP
FYE Feb 2023	66.9	+1.5pp	Cons. · Japanese GAAP
FYE Feb 2024	70.2	+3.3pp	Cons. · Japanese GAAP
FYE Feb 2025	68.9	−1.3pp	Cons. · Japanese GAAP
FYE Feb 2026	68.3	−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 Feb 2026 17.9%

Average · 10 yrs 18.0%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Dec 2016	18.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	18.0	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2018	19.9	+1.9pp	Cons. · Japanese GAAP
FYE Feb 2020	23.3	+3.4pp	Cons. · Japanese GAAP
FYE Feb 2021	17.9	−5.4pp	Cons. · Japanese GAAP
FYE Feb 2022	11.8	−6.1pp	Cons. · Japanese GAAP
FYE Feb 2023	18.7	+6.8pp	Cons. · Japanese GAAP
FYE Feb 2024	16.5	−2.2pp	Cons. · Japanese GAAP
FYE Feb 2025	17.6	+1.2pp	Cons. · Japanese GAAP
FYE Feb 2026	17.9	+0.3pp	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 Feb 2026 10.1%

Average · 10 yrs -1.4%

Fiscal year	ROE %	YoY	Basis
FYE Dec 2016	-22.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-2.1	+20.8pp	Cons. · Japanese GAAP
FYE Dec 2018	-1.8	+0.3pp	Cons. · Japanese GAAP
FYE Feb 2020	-6.9	−5.1pp	Cons. · Japanese GAAP
FYE Feb 2021	-14.9	−8.0pp	Cons. · Japanese GAAP
FYE Feb 2022	2.0	+16.9pp	Cons. · Japanese GAAP
FYE Feb 2023	5.9	+4.0pp	Cons. · Japanese GAAP
FYE Feb 2024	6.8	+0.8pp	Cons. · Japanese GAAP
FYE Feb 2025	10.2	+3.4pp	Cons. · Japanese GAAP
FYE Feb 2026	10.1	−0.1pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Feb 2026 6.9%

Average · 10 yrs -0.6%

Fiscal year	ROA %	YoY	Basis
FYE Dec 2016	-14.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-1.4	+12.7pp	Cons. · Japanese GAAP
FYE Dec 2018	-1.1	+0.2pp	Cons. · Japanese GAAP
FYE Feb 2020	-4.3	−3.2pp	Cons. · Japanese GAAP
FYE Feb 2021	-9.4	−5.1pp	Cons. · Japanese GAAP
FYE Feb 2022	1.3	+10.7pp	Cons. · Japanese GAAP
FYE Feb 2023	4.0	+2.7pp	Cons. · Japanese GAAP
FYE Feb 2024	4.7	+0.8pp	Cons. · Japanese GAAP
FYE Feb 2025	7.0	+2.3pp	Cons. · Japanese GAAP
FYE Feb 2026	6.9	−0.2pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Feb 2026 0.98×

CAGR · 10 yrs +1.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Dec 2016	0.84	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.83	−1.1%	Cons. · Japanese GAAP
FYE Dec 2018	0.80	−3.3%	Cons. · Japanese GAAP
FYE Feb 2020	1.10	+37.9%	Cons. · Japanese GAAP
FYE Feb 2021	0.72	−35.1%	Cons. · Japanese GAAP
FYE Feb 2022	0.75	+4.4%	Cons. · Japanese GAAP
FYE Feb 2023	1.07	+43.1%	Cons. · Japanese GAAP
FYE Feb 2024	1.04	−2.5%	Cons. · Japanese GAAP
FYE Feb 2025	1.06	+1.7%	Cons. · Japanese GAAP
FYE Feb 2026	0.98	−8.1%	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 Feb 2026 ¥1.0bn

Average · 10 yrs -¥1.2bn

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-9.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-4.8	−22013.6%	Cons. · Japanese GAAP
FYE Feb 2020	-2.7	n/a	Cons. · Japanese GAAP
FYE Feb 2021	-5.7	n/a	Cons. · Japanese GAAP
FYE Feb 2022	-1.6	n/a	Cons. · Japanese GAAP
FYE Feb 2023	4.2	n/a	Cons. · Japanese GAAP
FYE Feb 2024	4.4	+4.8%	Cons. · Japanese GAAP
FYE Feb 2025	2.7	−39.3%	Cons. · Japanese GAAP
FYE Feb 2026	1.0	−62.9%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Feb 2026 ¥1.6bn

CAGR · 10 yrs −6.6%

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	3.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.9	−37.0%	Cons. · Japanese GAAP
FYE Dec 2018	4.2	+120.0%	Cons. · Japanese GAAP
FYE Feb 2020	-0.7	−117.5%	Cons. · Japanese GAAP
FYE Feb 2021	15.8	n/a	Cons. · Japanese GAAP
FYE Feb 2022	-1.4	−108.6%	Cons. · Japanese GAAP
FYE Feb 2023	-1.0	n/a	Cons. · Japanese GAAP
FYE Feb 2024	-2.3	n/a	Cons. · Japanese GAAP
FYE Feb 2025	1.6	n/a	Cons. · Japanese GAAP
FYE Feb 2026	1.6	+0.5%	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 Feb 2026 -¥3.7bn

Average · 10 yrs -¥1.9bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-1.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-1.2	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-0.5	n/a	Cons. · Japanese GAAP
FYE Feb 2020	-1.7	n/a	Cons. · Japanese GAAP
FYE Feb 2021	-4.3	n/a	Cons. · Japanese GAAP
FYE Feb 2022	0.5	n/a	Cons. · Japanese GAAP
FYE Feb 2023	-0.9	−274.6%	Cons. · Japanese GAAP
FYE Feb 2024	-1.4	n/a	Cons. · Japanese GAAP
FYE Feb 2025	-3.9	n/a	Cons. · Japanese GAAP
FYE Feb 2026	-3.7	n/a	Cons. · Japanese GAAP

Definition: Cash raised from, or returned to, lenders and shareholders
Formula: Cash flow from financing activities
Source: Securities report (XBRL)

Cash and equivalents

FYE Feb 2026 ¥18bn

CAGR · 10 yrs +0.0%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Dec 2016	18.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	19.2	+4.2%	Cons. · Japanese GAAP
FYE Dec 2018	18.1	−5.8%	Cons. · Japanese GAAP
FYE Feb 2020	12.9	−28.4%	Cons. · Japanese GAAP
FYE Feb 2021	18.8	+45.2%	Cons. · Japanese GAAP
FYE Feb 2022	16.3	−13.3%	Cons. · Japanese GAAP
FYE Feb 2023	18.4	+13.1%	Cons. · Japanese GAAP
FYE Feb 2024	19.1	+3.7%	Cons. · Japanese GAAP
FYE Feb 2025	19.5	+2.3%	Cons. · Japanese GAAP
FYE Feb 2026	18.5	−5.3%	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 Feb 2026 ¥2.6bn

Average · 10 yrs ¥1.0bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Dec 2016	-6.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.9	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-0.6	−131.9%	Cons. · Japanese GAAP
FYE Feb 2020	-3.4	n/a	Cons. · Japanese GAAP
FYE Feb 2021	10.1	n/a	Cons. · Japanese GAAP
FYE Feb 2022	-3.0	−129.6%	Cons. · Japanese GAAP
FYE Feb 2023	3.2	n/a	Cons. · Japanese GAAP
FYE Feb 2024	2.1	−34.3%	Cons. · Japanese GAAP
FYE Feb 2025	4.3	+107.0%	Cons. · Japanese GAAP
FYE Feb 2026	2.6	−38.9%	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 Feb 2026 1.7%

Average · 10 yrs -2.5%

Fiscal year	OCF margin %	YoY	Basis
FYE Dec 2016	-14.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.0	+14.4pp	Cons. · Japanese GAAP
FYE Dec 2018	-8.2	−8.2pp	Cons. · Japanese GAAP
FYE Feb 2020	-3.9	+4.2pp	Cons. · Japanese GAAP
FYE Feb 2021	-14.9	−11.0pp	Cons. · Japanese GAAP
FYE Feb 2022	-4.2	+10.7pp	Cons. · Japanese GAAP
FYE Feb 2023	7.2	+11.5pp	Cons. · Japanese GAAP
FYE Feb 2024	7.2	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2025	4.4	−2.8pp	Cons. · Japanese GAAP
FYE Feb 2026	1.7	−2.7pp	Cons. · Japanese GAAP

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

Net cash

FYE Feb 2026 ¥11bn

CAGR · 10 yrs +2.2%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Dec 2016	9.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	10.4	+12.8%	Cons. · Japanese GAAP
FYE Dec 2018	9.0	−12.9%	Cons. · Japanese GAAP
FYE Feb 2020	3.9	−56.7%	Cons. · Japanese GAAP
FYE Feb 2021	12.8	+226.4%	Cons. · Japanese GAAP
FYE Feb 2022	12.3	−3.9%	Cons. · Japanese GAAP
FYE Feb 2023	11.6	−5.5%	Cons. · Japanese GAAP
FYE Feb 2024	12.3	+5.9%	Cons. · Japanese GAAP
FYE Feb 2025	12.6	+2.4%	Cons. · Japanese GAAP
FYE Feb 2026	11.2	−11.4%	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 Feb 2026 ¥44bn

Change · 5 yrs +¥34bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Dec 2016	n/a	n/a
FYE Dec 2017	n/a	n/a
FYE Dec 2018	n/a	n/a
FYE Feb 2020	n/a	n/a
FYE Feb 2021	n/a	n/a
FYE Feb 2022	10.5	n/a
FYE Feb 2023	17.6	n/a
FYE Feb 2024	32.1	n/a
FYE Feb 2025	34.9	n/a
FYE Feb 2026	44.2	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 Feb 2026 4,333¥

Change · 5 yrs +3,502¥

Fiscal year	Share price ¥	Basis
FYE Dec 2016	n/a	n/a
FYE Dec 2017	n/a	n/a
FYE Dec 2018	n/a	n/a
FYE Feb 2020	n/a	n/a
FYE Feb 2021	n/a	n/a
FYE Feb 2022	832	n/a
FYE Feb 2023	1,395	n/a
FYE Feb 2024	2,540	n/a
FYE Feb 2025	2,766	n/a
FYE Feb 2026	4,333	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 Feb 2026 10,197,034shares

Change · 10 yrs −116,032,311 shares

Fiscal year	Shares outstanding shares	Basis
FYE Dec 2016	126,229,345	Parent
FYE Dec 2017	12,622,934	Parent
FYE Dec 2018	12,622,934	Parent
FYE Feb 2020	12,622,934	Parent
FYE Feb 2021	12,622,934	Parent
FYE Feb 2022	12,622,934	Parent
FYE Feb 2023	12,622,934	Parent
FYE Feb 2024	12,622,934	Parent
FYE Feb 2025	12,622,934	Parent
FYE Feb 2026	10,197,034	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 Feb 2026 392.17¥

Change · 10 yrs +1,296.45¥

Fiscal year	EPS ¥	Basis
FYE Dec 2016	-904.28	Cons.
FYE Dec 2017	-81.62	Cons.
FYE Dec 2018	-65.21	Cons.
FYE Feb 2020	-219.17	Cons.
FYE Feb 2021	-412.07	Cons.
FYE Feb 2022	54.59	Cons.
FYE Feb 2023	178.68	Cons.
FYE Feb 2024	238.96	Cons.
FYE Feb 2025	351.48	Cons.
FYE Feb 2026	392.17	Cons.

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

BPS book value per share

FYE Feb 2026 4,011.26¥

Change · 10 yrs +3,618.72¥

Fiscal year	BPS ¥	Basis
FYE Dec 2016	392.55	Cons. · Japanese GAAP
FYE Dec 2017	3,868.75	Cons. · Japanese GAAP
FYE Dec 2018	3,590.37	Cons. · Japanese GAAP
FYE Feb 2020	3,065.21	Cons. · Japanese GAAP
FYE Feb 2021	2,650.89	Cons. · Japanese GAAP
FYE Feb 2022	2,674.81	Cons. · Japanese GAAP
FYE Feb 2023	2,885.38	Cons. · Japanese GAAP
FYE Feb 2024	3,267.23	Cons. · Japanese GAAP
FYE Feb 2025	3,112.03	Cons. · Japanese GAAP
FYE Feb 2026	4,011.26	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Feb 2026 11.05×

Average · 5 yrs 10.52×

Fiscal year	PER ×	Basis
FYE Dec 2016	n/a	Cons.
FYE Dec 2017	n/a	Cons.
FYE Dec 2018	n/a	Cons.
FYE Feb 2020	n/a	Cons.
FYE Feb 2021	n/a	Cons.
FYE Feb 2022	15.24	Cons.
FYE Feb 2023	7.81	Cons.
FYE Feb 2024	10.63	Cons.
FYE Feb 2025	7.87	Cons.
FYE Feb 2026	11.05	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 Feb 2026 1.08×

Average · 5 yrs 0.66×

Fiscal year	PBR ×	Basis
FYE Dec 2016	n/a	Cons.
FYE Dec 2017	n/a	Cons.
FYE Dec 2018	n/a	Cons.
FYE Feb 2020	n/a	Cons.
FYE Feb 2021	n/a	Cons.
FYE Feb 2022	0.30	Cons.
FYE Feb 2023	0.45	Cons.
FYE Feb 2024	0.72	Cons.
FYE Feb 2025	0.75	Cons.
FYE Feb 2026	1.08	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 Feb 2026 1,125people

Change · 10 yrs −165 people

Fiscal year	Group employees people	YoY	Basis
FYE Dec 2016	1,290	n/a	Cons.
FYE Dec 2017	991	−23.2%	Cons.
FYE Dec 2018	1,804	+82.0%	Cons.
FYE Feb 2020	1,650	−8.5%	Cons.
FYE Feb 2021	1,572	−4.7%	Cons.
FYE Feb 2022	1,235	−21.4%	Cons.
FYE Feb 2023	1,179	−4.5%	Cons.
FYE Feb 2024	1,150	−2.5%	Cons.
FYE Feb 2025	1,149	−0.1%	Cons.
FYE Feb 2026	1,125	−2.1%	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 Feb 2026 1,118people

Change · 10 yrs −150 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Dec 2016	1,268	n/a	Parent
FYE Dec 2017	964	−24.0%	Parent
FYE Dec 2018	1,734	+79.9%	Parent
FYE Feb 2020	1,552	−10.5%	Parent
FYE Feb 2021	1,492	−3.9%	Parent
FYE Feb 2022	1,228	−17.7%	Parent
FYE Feb 2023	1,172	−4.6%	Parent
FYE Feb 2024	1,143	−2.5%	Parent
FYE Feb 2025	1,142	−0.1%	Parent
FYE Feb 2026	1,118	−2.1%	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 Feb 2026 ¥5.5m

Change · 7 yrs +¥0.3m

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 Feb 2020	5.2	n/a	Parent
FYE Feb 2021	4.7	−9.8%	Parent
FYE Feb 2022	4.5	−3.1%	Parent
FYE Feb 2023	4.9	+7.1%	Parent
FYE Feb 2024	5.4	+11.6%	Parent
FYE Feb 2025	5.5	+1.7%	Parent
FYE Feb 2026	5.5	−0.6%	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 Feb 2026 43.4years

Change · 7 yrs +3.2 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 Feb 2020	40.2	n/a	Parent
FYE Feb 2021	40.6	+1.0%	Parent
FYE Feb 2022	40.6	−0.0%	Parent
FYE Feb 2023	41.9	+3.2%	Parent
FYE Feb 2024	43.0	+2.6%	Parent
FYE Feb 2025	43.0	−0.0%	Parent
FYE Feb 2026	43.4	+0.9%	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 Feb 2026 15.6years

Change · 7 yrs +2.2 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 Feb 2020	13.4	n/a	Parent
FYE Feb 2021	13.9	+3.7%	Parent
FYE Feb 2022	13.6	−2.2%	Parent
FYE Feb 2023	14.4	+5.9%	Parent
FYE Feb 2024	15.2	+5.6%	Parent
FYE Feb 2025	15.2	−0.0%	Parent
FYE Feb 2026	15.6	+2.6%	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 Feb 2026 1,369people

Change · 10 yrs −2,555 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Dec 2016	3,924	n/a	n/a
FYE Dec 2017	3,274	−16.6%	n/a
FYE Dec 2018	2,154	−34.2%	n/a
FYE Feb 2020	2,145	−0.4%	n/a
FYE Feb 2021	1,923	−10.3%	n/a
FYE Feb 2022	1,589	−17.4%	n/a
FYE Feb 2023	1,454	−8.5%	n/a
FYE Feb 2024	1,442	−0.8%	n/a
FYE Feb 2025	1,437	−0.3%	n/a
FYE Feb 2026	1,369	−4.7%	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 Feb 2026 ¥52.0m

Change · 10 yrs −¥0.5m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Dec 2016	52.4	n/a	Cons.
FYE Dec 2017	63.1	+20.4%	Cons.
FYE Dec 2018	32.8	−48.1%	Cons.
FYE Feb 2020	41.7	+27.4%	Cons.
FYE Feb 2021	24.1	−42.2%	Cons.
FYE Feb 2022	31.3	+29.6%	Cons.
FYE Feb 2023	49.4	+58.0%	Cons.
FYE Feb 2024	53.4	+7.9%	Cons.
FYE Feb 2025	52.7	−1.3%	Cons.
FYE Feb 2026	52.0	−1.4%	Cons.

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

Operating profit per employee

FYE Feb 2026 ¥1.2m

Change · 10 yrs +¥7.7m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Dec 2016	-6.5	n/a	Cons.
FYE Dec 2017	-1.9	n/a	Cons.
FYE Dec 2018	-1.2	n/a	Cons.
FYE Feb 2020	-1.7	n/a	Cons.
FYE Feb 2021	-5.7	n/a	Cons.
FYE Feb 2022	-0.9	n/a	Cons.
FYE Feb 2023	1.9	n/a	Cons.
FYE Feb 2024	2.6	+39.8%	Cons.
FYE Feb 2025	2.4	−10.8%	Cons.
FYE Feb 2026	1.2	−51.2%	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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