Financials

Seiko Group: FYE Mar 2026 and ten years of results (49 metrics)

FYE Mar 2026 · Revenue¥336bnYoY +10.2%

FYE Mar 2026 · Operating profit¥31bnYoY +45.4%

FYE Mar 2026 · Net profit¥22bnYoY +65.1%

FYE Mar 2026 · Equity ratio45.8%YoY +3.5pp

FYE Mar 2026 · Group employees11,326YoY −41

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥257bn	n/a	¥7.5bn	n/a	2.9%	¥5.4bn	Nakamura Yoshinobu	—
FYE Mar 2018Consolidated	¥269bn	+4.4%	¥11bn	+44.7%	4.0%	¥12bn	Nakamura Yoshinobu	Semiconductors and wide-format printers divested; Grand Seiko made independent
FYE Mar 2019Consolidated	¥247bn	−7.9%	¥9.4bn	−13.3%	3.8%	¥9.2bn	Nakamura Yoshinobu	—
FYE Mar 2020Consolidated	¥239bn	−3.3%	¥6.1bn	−34.7%	2.6%	¥3.4bn	Nakamura Yoshinobu	—
FYE Mar 2021Consolidated	¥203bn	−15.3%	¥2.2bn	−64.2%	1.1%	¥3.5bn	Nakamura Yoshinobu	Grand Seiko Studio Shizukuishi opens
FYE Mar 2022Consolidated	¥237bn	+17.1%	¥8.8bn	+299.7%	3.7%	¥6.4bn	Nakamura Yoshinobu	—
FYE Mar 2023Consolidated	¥261bn	+9.7%	¥11bn	+28.1%	4.3%	¥5.0bn	Takahashi Shuji	Renamed Seiko Group Corporation
FYE Mar 2024Consolidated	¥277bn	+6.3%	¥15bn	+31.2%	5.3%	¥10bn	Takahashi Shuji	—
FYE Mar 2025Consolidated	¥305bn	+10.1%	¥21bn	+44.1%	7.0%	¥13bn	Takahashi Shuji	—
FYE Mar 2026Consolidated	¥336bn	+10.2%	¥31bn	+45.4%	9.2%	¥22bn	Takahashi Shuji	—

How it compares

Citizen Watch¥347bnFY2025Operating margin 8.7%

Seiko Group¥336bnFY2025Operating margin 9.2%

Casio¥276bnFY2025Operating margin 8.4%

Income statement Revenue, costs, each level of profit and the margins they leave

Where the revenue goes

¥ bn

Cost of sales SG&A Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥336bn

CAGR · 10 yrs +3.0%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	257	n/a	Cons. · Japanese GAAP
FYE Mar 2018	269	+4.4%	Cons. · Japanese GAAP
FYE Mar 2019	247	−7.9%	Cons. · Japanese GAAP
FYE Mar 2020	239	−3.3%	Cons. · Japanese GAAP
FYE Mar 2021	203	−15.3%	Cons. · Japanese GAAP
FYE Mar 2022	237	+17.1%	Cons. · Japanese GAAP
FYE Mar 2023	261	+9.7%	Cons. · Japanese GAAP
FYE Mar 2024	277	+6.3%	Cons. · Japanese GAAP
FYE Mar 2025	305	+10.1%	Cons. · Japanese GAAP
FYE Mar 2026	336	+10.2%	Cons. · Japanese GAAP

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

Cost of sales

FYE Mar 2026 ¥180bn

CAGR · 10 yrs +1.3%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	161	n/a	Cons. · Japanese GAAP
FYE Mar 2018	166	+3.4%	Cons. · Japanese GAAP
FYE Mar 2019	151	−9.2%	Cons. · Japanese GAAP
FYE Mar 2020	144	−4.5%	Cons. · Japanese GAAP
FYE Mar 2021	123	−14.9%	Cons. · Japanese GAAP
FYE Mar 2022	138	+12.5%	Cons. · Japanese GAAP
FYE Mar 2023	149	+7.6%	Cons. · Japanese GAAP
FYE Mar 2024	154	+3.6%	Cons. · Japanese GAAP
FYE Mar 2025	168	+8.8%	Cons. · Japanese GAAP
FYE Mar 2026	180	+7.6%	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 ¥155bn

CAGR · 10 yrs +5.4%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	96.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	102	+6.2%	Cons. · Japanese GAAP
FYE Mar 2019	96.3	−5.8%	Cons. · Japanese GAAP
FYE Mar 2020	94.9	−1.5%	Cons. · Japanese GAAP
FYE Mar 2021	79.9	−15.9%	Cons. · Japanese GAAP
FYE Mar 2022	99.2	+24.2%	Cons. · Japanese GAAP
FYE Mar 2023	112	+12.7%	Cons. · Japanese GAAP
FYE Mar 2024	123	+9.7%	Cons. · Japanese GAAP
FYE Mar 2025	137	+11.7%	Cons. · Japanese GAAP
FYE Mar 2026	155	+13.2%	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 ¥124bn

CAGR · 10 yrs +3.8%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	88.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	91.5	+3.0%	Cons. · Japanese GAAP
FYE Mar 2019	86.9	−4.9%	Cons. · Japanese GAAP
FYE Mar 2020	88.8	+2.1%	Cons. · Japanese GAAP
FYE Mar 2021	77.7	−12.5%	Cons. · Japanese GAAP
FYE Mar 2022	90.4	+16.4%	Cons. · Japanese GAAP
FYE Mar 2023	101	+11.2%	Cons. · Japanese GAAP
FYE Mar 2024	108	+7.3%	Cons. · Japanese GAAP
FYE Mar 2025	116	+7.3%	Cons. · Japanese GAAP
FYE Mar 2026	124	+7.3%	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 Mar 2026 ¥31bn

CAGR · 10 yrs +17.0%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.8	+44.7%	Cons. · Japanese GAAP
FYE Mar 2019	9.4	−13.3%	Cons. · Japanese GAAP
FYE Mar 2020	6.1	−34.7%	Cons. · Japanese GAAP
FYE Mar 2021	2.2	−64.2%	Cons. · Japanese GAAP
FYE Mar 2022	8.8	+299.7%	Cons. · Japanese GAAP
FYE Mar 2023	11.2	+28.1%	Cons. · Japanese GAAP
FYE Mar 2024	14.7	+31.2%	Cons. · Japanese GAAP
FYE Mar 2025	21.2	+44.1%	Cons. · Japanese GAAP
FYE Mar 2026	30.9	+45.4%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥4.9bn

CAGR · 10 yrs +7.0%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.3	+23.1%	Cons. · Japanese GAAP
FYE Mar 2019	4.8	+47.3%	Cons. · Japanese GAAP
FYE Mar 2020	3.6	−25.2%	Cons. · Japanese GAAP
FYE Mar 2021	2.3	−35.4%	Cons. · Japanese GAAP
FYE Mar 2022	3.6	+53.7%	Cons. · Japanese GAAP
FYE Mar 2023	3.1	−14.2%	Cons. · Japanese GAAP
FYE Mar 2024	4.3	+39.7%	Cons. · Japanese GAAP
FYE Mar 2025	3.2	−24.4%	Cons. · Japanese GAAP
FYE Mar 2026	4.9	+50.7%	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 ¥2.6bn

CAGR · 10 yrs −3.1%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.2	−8.1%	Cons. · Japanese GAAP
FYE Mar 2019	2.8	−12.7%	Cons. · Japanese GAAP
FYE Mar 2020	2.7	−2.2%	Cons. · Japanese GAAP
FYE Mar 2021	3.9	+42.8%	Cons. · Japanese GAAP
FYE Mar 2022	2.4	−38.4%	Cons. · Japanese GAAP
FYE Mar 2023	3.1	+30.6%	Cons. · Japanese GAAP
FYE Mar 2024	3.1	−0.4%	Cons. · Japanese GAAP
FYE Mar 2025	3.7	+18.9%	Cons. · Japanese GAAP
FYE Mar 2026	2.6	−29.3%	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 ¥33bn

CAGR · 10 yrs +19.5%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.9	+63.6%	Cons. · Japanese GAAP
FYE Mar 2019	11.4	+4.6%	Cons. · Japanese GAAP
FYE Mar 2020	7.0	−38.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.6	−91.0%	Cons. · Japanese GAAP
FYE Mar 2022	9.9	+1470.1%	Cons. · Japanese GAAP
FYE Mar 2023	11.2	+12.4%	Cons. · Japanese GAAP
FYE Mar 2024	15.9	+42.3%	Cons. · Japanese GAAP
FYE Mar 2025	20.8	+30.7%	Cons. · Japanese GAAP
FYE Mar 2026	33.1	+59.5%	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 ¥0.6bn

CAGR · 10 yrs +1.5%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.4	+1812.9%	Cons. · Japanese GAAP
FYE Mar 2019	0.4	−96.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.3	−4.7%	Cons. · Japanese GAAP
FYE Mar 2021	9.4	+2618.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.1	−98.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.2	+71.4%	Cons. · Japanese GAAP
FYE Mar 2024	1.6	+590.8%	Cons. · Japanese GAAP
FYE Mar 2025	3.2	+104.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.6	−82.6%	Cons. · Japanese GAAP

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

Extraordinary loss

FYE Mar 2026 n/a

CAGR · 4 yrs +18.8%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2017	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	1.2	−66.9%	Cons. · Japanese GAAP
FYE Mar 2023	1.8	+46.6%	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: One-off losses, such as an impairment or a restructuring charge
Formula: Extraordinary loss line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥22bn

CAGR · 10 yrs +16.9%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.5	+114.0%	Cons. · Japanese GAAP
FYE Mar 2019	9.2	−19.9%	Cons. · Japanese GAAP
FYE Mar 2020	3.4	−63.3%	Cons. · Japanese GAAP
FYE Mar 2021	3.5	+2.4%	Cons. · Japanese GAAP
FYE Mar 2022	6.4	+84.6%	Cons. · Japanese GAAP
FYE Mar 2023	5.0	−21.6%	Cons. · Japanese GAAP
FYE Mar 2024	10.1	+99.9%	Cons. · Japanese GAAP
FYE Mar 2025	13.3	+32.5%	Cons. · Japanese GAAP
FYE Mar 2026	22.0	+65.1%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 46.2%

Average · 10 yrs 41.4%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	37.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	38.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	39.0	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	39.7	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	39.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	41.8	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	42.9	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	44.3	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	45.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	46.2	+1.3pp	Cons. · Japanese GAAP

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

Operating margin

FYE Mar 2026 9.2%

Average · 10 yrs 4.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.0	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	3.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	2.6	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	1.1	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2022	3.7	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2023	4.3	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	5.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	7.0	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	9.2	+2.2pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Mar 2026 9.9%

Average · 10 yrs 4.5%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.1	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	4.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	2.9	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	0.3	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	4.2	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2023	4.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	5.7	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	6.8	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	9.9	+3.1pp	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 6.5%

Average · 10 yrs 3.2%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	2.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.3	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2019	3.7	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	1.4	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2021	1.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	2.7	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	1.9	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	3.6	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	4.4	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	6.5	+2.2pp	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 53.8%

Average · 10 yrs 58.6%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	62.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	61.9	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	61.0	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	60.3	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	60.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	58.2	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	57.1	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	55.7	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	55.0	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	53.8	−1.3pp	Cons. · Japanese GAAP

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

SG&A ratio

FYE Mar 2026 37.0%

Average · 10 yrs 37.0%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	34.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	34.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	35.2	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2020	37.1	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2021	38.3	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2022	38.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	38.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2024	39.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	38.0	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	37.0	−1.0pp	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 ¥384bn

CAGR · 10 yrs +1.7%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	329	n/a	Cons. · Japanese GAAP
FYE Mar 2018	305	−7.2%	Cons. · Japanese GAAP
FYE Mar 2019	303	−0.7%	Cons. · Japanese GAAP
FYE Mar 2020	300	−1.0%	Cons. · Japanese GAAP
FYE Mar 2021	320	+6.6%	Cons. · Japanese GAAP
FYE Mar 2022	328	+2.5%	Cons. · Japanese GAAP
FYE Mar 2023	356	+8.7%	Cons. · Japanese GAAP
FYE Mar 2024	376	+5.7%	Cons. · Japanese GAAP
FYE Mar 2025	369	−1.9%	Cons. · Japanese GAAP
FYE Mar 2026	384	+4.0%	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 Mar 2026 ¥176bn

CAGR · 10 yrs +6.7%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	98.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	104	+6.0%	Cons. · Japanese GAAP
FYE Mar 2019	109	+5.0%	Cons. · Japanese GAAP
FYE Mar 2020	103	−5.7%	Cons. · Japanese GAAP
FYE Mar 2021	112	+8.4%	Cons. · Japanese GAAP
FYE Mar 2022	120	+7.5%	Cons. · Japanese GAAP
FYE Mar 2023	130	+8.1%	Cons. · Japanese GAAP
FYE Mar 2024	149	+14.9%	Cons. · Japanese GAAP
FYE Mar 2025	156	+4.6%	Cons. · Japanese GAAP
FYE Mar 2026	176	+12.7%	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 ¥67bn

CAGR · 10 yrs −4.7%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	104	n/a	Cons. · Japanese GAAP
FYE Mar 2018	90.0	−13.1%	Cons. · Japanese GAAP
FYE Mar 2019	84.7	−5.9%	Cons. · Japanese GAAP
FYE Mar 2020	92.8	+9.5%	Cons. · Japanese GAAP
FYE Mar 2021	108	+16.3%	Cons. · Japanese GAAP
FYE Mar 2022	92.5	−14.3%	Cons. · Japanese GAAP
FYE Mar 2023	110	+19.1%	Cons. · Japanese GAAP
FYE Mar 2024	96.0	−12.8%	Cons. · Japanese GAAP
FYE Mar 2025	84.5	−12.0%	Cons. · Japanese GAAP
FYE Mar 2026	66.9	−20.9%	Cons. · Japanese GAAP

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

Intangible assets

FYE Mar 2026 ¥20bn

CAGR · 10 yrs +2.3%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	16.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.0	+10.4%	Cons. · Japanese GAAP
FYE Mar 2019	17.2	−4.4%	Cons. · Japanese GAAP
FYE Mar 2020	16.0	−7.2%	Cons. · Japanese GAAP
FYE Mar 2021	15.8	−1.1%	Cons. · Japanese GAAP
FYE Mar 2022	14.8	−6.2%	Cons. · Japanese GAAP
FYE Mar 2023	15.5	+4.6%	Cons. · Japanese GAAP
FYE Mar 2024	18.2	+17.2%	Cons. · Japanese GAAP
FYE Mar 2025	18.0	−1.1%	Cons. · Japanese GAAP
FYE Mar 2026	20.0	+11.2%	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 ¥6.1bn

CAGR · 10 yrs −2.0%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.1	+25.4%	Cons. · Japanese GAAP
FYE Mar 2019	8.3	−9.4%	Cons. · Japanese GAAP
FYE Mar 2020	7.4	−10.4%	Cons. · Japanese GAAP
FYE Mar 2021	7.3	−1.3%	Cons. · Japanese GAAP
FYE Mar 2022	6.5	−12.0%	Cons. · Japanese GAAP
FYE Mar 2023	6.9	+6.9%	Cons. · Japanese GAAP
FYE Mar 2024	8.0	+16.3%	Cons. · Japanese GAAP
FYE Mar 2025	6.4	−20.6%	Cons. · Japanese GAAP
FYE Mar 2026	6.1	−4.5%	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 45.8%

Average · 10 yrs 37.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	29.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	34.1	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2019	36.0	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2020	34.4	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	34.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	36.7	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2023	36.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	39.6	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	42.2	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2026	45.8	+3.5pp	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 38.0%

Average · 10 yrs 77.5%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	105.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	86.5	−19.0pp	Cons. · Japanese GAAP
FYE Mar 2019	77.6	−9.0pp	Cons. · Japanese GAAP
FYE Mar 2020	90.0	+12.5pp	Cons. · Japanese GAAP
FYE Mar 2021	96.6	+6.5pp	Cons. · Japanese GAAP
FYE Mar 2022	77.0	−19.6pp	Cons. · Japanese GAAP
FYE Mar 2023	84.8	+7.8pp	Cons. · Japanese GAAP
FYE Mar 2024	64.4	−20.4pp	Cons. · Japanese GAAP
FYE Mar 2025	54.2	−10.2pp	Cons. · Japanese GAAP
FYE Mar 2026	38.0	−16.2pp	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 12.5%

Average · 10 yrs 6.8%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.1	+5.6pp	Cons. · Japanese GAAP
FYE Mar 2019	8.5	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2020	3.3	−5.2pp	Cons. · Japanese GAAP
FYE Mar 2021	3.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	5.3	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2023	3.9	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	6.7	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2025	8.5	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	12.5	+4.0pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 5.7%

Average · 10 yrs 2.6%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.8	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2019	3.1	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	1.1	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	1.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	2.0	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	1.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2024	2.7	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	3.6	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	5.7	+2.1pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.87×

CAGR · 10 yrs +1.3%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.78	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.88	+12.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.82	−7.2%	Cons. · Japanese GAAP
FYE Mar 2020	0.80	−2.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.63	−20.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.72	+14.3%	Cons. · Japanese GAAP
FYE Mar 2023	0.73	+1.0%	Cons. · Japanese GAAP
FYE Mar 2024	0.74	+0.5%	Cons. · Japanese GAAP
FYE Mar 2025	0.83	+12.2%	Cons. · Japanese GAAP
FYE Mar 2026	0.87	+6.0%	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 ¥37bn

CAGR · 10 yrs +27.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.9	+562.5%	Cons. · Japanese GAAP
FYE Mar 2019	17.5	−37.2%	Cons. · Japanese GAAP
FYE Mar 2020	2.7	−84.6%	Cons. · Japanese GAAP
FYE Mar 2021	2.9	+6.3%	Cons. · Japanese GAAP
FYE Mar 2022	20.4	+608.4%	Cons. · Japanese GAAP
FYE Mar 2023	9.3	−54.5%	Cons. · Japanese GAAP
FYE Mar 2024	32.7	+253.4%	Cons. · Japanese GAAP
FYE Mar 2025	32.6	−0.4%	Cons. · Japanese GAAP
FYE Mar 2026	36.8	+12.8%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Mar 2026 -¥15bn

Average · 10 yrs -¥12bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-13.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-17.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-10.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-9.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-15.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-15.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-9.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-14.8	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 -¥20bn

Average · 10 yrs -¥6.9bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-11.8	−305.8%	Cons. · Japanese GAAP
FYE Mar 2019	-10.7	n/a	Cons. · Japanese GAAP
FYE Mar 2020	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	10.5	+1443.5%	Cons. · Japanese GAAP
FYE Mar 2022	-13.9	−232.9%	Cons. · Japanese GAAP
FYE Mar 2023	10.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-23.0	−317.9%	Cons. · Japanese GAAP
FYE Mar 2025	-16.5	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-20.5	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 ¥43bn

CAGR · 10 yrs +2.3%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	35.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.9	−4.0%	Cons. · Japanese GAAP
FYE Mar 2019	33.8	−0.2%	Cons. · Japanese GAAP
FYE Mar 2020	26.1	−22.8%	Cons. · Japanese GAAP
FYE Mar 2021	32.3	+23.9%	Cons. · Japanese GAAP
FYE Mar 2022	30.7	−5.0%	Cons. · Japanese GAAP
FYE Mar 2023	36.2	+17.8%	Cons. · Japanese GAAP
FYE Mar 2024	32.7	−9.7%	Cons. · Japanese GAAP
FYE Mar 2025	39.4	+20.6%	Cons. · Japanese GAAP
FYE Mar 2026	43.5	+10.3%	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 ¥22bn

Average · 10 yrs ¥6.7bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-9.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	10.4	−0.4%	Cons. · Japanese GAAP
FYE Mar 2020	-8.0	−176.7%	Cons. · Japanese GAAP
FYE Mar 2021	-5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	11.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-6.3	−156.8%	Cons. · Japanese GAAP
FYE Mar 2024	17.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	23.5	+33.2%	Cons. · Japanese GAAP
FYE Mar 2026	22.0	−6.4%	Cons. · Japanese GAAP

Definition: What is left once the business has paid for its own investment
Formula: Operating cash flow + investing cash flow
Source: Securities report (XBRL)

Operating cash flow margin

FYE Mar 2026 11.0%

Average · 10 yrs 6.7%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.4	+8.7pp	Cons. · Japanese GAAP
FYE Mar 2019	7.1	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2020	1.1	−5.9pp	Cons. · Japanese GAAP
FYE Mar 2021	1.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	8.6	+7.2pp	Cons. · Japanese GAAP
FYE Mar 2023	3.6	−5.0pp	Cons. · Japanese GAAP
FYE Mar 2024	11.8	+8.3pp	Cons. · Japanese GAAP
FYE Mar 2025	10.7	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	11.0	+0.3pp	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 -¥23bn

Average · 10 yrs -¥58bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-68.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-56.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-50.9	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-66.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-75.5	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-61.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-73.9	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-63.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-45.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-23.4	n/a	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 ¥452bn

Change · 10 yrs +¥358bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	94.2	n/a
FYE Mar 2018	107	n/a
FYE Mar 2019	109	n/a
FYE Mar 2020	72.3	n/a
FYE Mar 2021	77.8	n/a
FYE Mar 2022	94.7	n/a
FYE Mar 2023	120	n/a
FYE Mar 2024	173	n/a
FYE Mar 2025	172	n/a
FYE Mar 2026	452	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 10,919¥

Change · 10 yrs +10,464¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	455	n/a
FYE Mar 2018	2,576	n/a
FYE Mar 2019	2,626	n/a
FYE Mar 2020	1,746	n/a
FYE Mar 2021	1,880	n/a
FYE Mar 2022	2,287	n/a
FYE Mar 2023	2,900	n/a
FYE Mar 2024	4,178	n/a
FYE Mar 2025	4,142	n/a
FYE Mar 2026	10,919	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 41,404,261shares

Change · 10 yrs −165,617,048 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	207,021,309	Parent
FYE Mar 2018	41,404,261	Parent
FYE Mar 2019	41,404,261	Parent
FYE Mar 2020	41,404,261	Parent
FYE Mar 2021	41,404,261	Parent
FYE Mar 2022	41,404,261	Parent
FYE Mar 2023	41,404,261	Parent
FYE Mar 2024	41,404,261	Parent
FYE Mar 2025	41,404,261	Parent
FYE Mar 2026	41,404,261	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 268.93¥

Change · 10 yrs +138.22¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	130.71	Cons.
FYE Mar 2018	280.01	Cons.
FYE Mar 2019	224.42	Cons.
FYE Mar 2020	82.36	Cons.
FYE Mar 2021	84.30	Cons.
FYE Mar 2022	77.78	Cons.
FYE Mar 2023	60.93	Cons.
FYE Mar 2024	122.17	Cons.
FYE Mar 2025	163.09	Cons.
FYE Mar 2026	268.93	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 4,245.53¥

Change · 10 yrs +3,771.57¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	473.96	Cons. · Japanese GAAP
FYE Mar 2018	2,512.08	Cons. · Japanese GAAP
FYE Mar 2019	2,637.92	Cons. · Japanese GAAP
FYE Mar 2020	2,488.87	Cons. · Japanese GAAP
FYE Mar 2021	2,697.67	Cons. · Japanese GAAP
FYE Mar 2022	2,899.87	Cons. · Japanese GAAP
FYE Mar 2023	3,134.75	Cons. · Japanese GAAP
FYE Mar 2024	3,601.08	Cons. · Japanese GAAP
FYE Mar 2025	3,767.05	Cons. · Japanese GAAP
FYE Mar 2026	4,245.53	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 20.30×

Average · 10 yrs 17.04×

Fiscal year	PER ×	Basis
FYE Mar 2017	17.40	Cons.
FYE Mar 2018	9.20	Cons.
FYE Mar 2019	11.70	Cons.
FYE Mar 2020	21.20	Cons.
FYE Mar 2021	22.30	Cons.
FYE Mar 2022	14.70	Cons.
FYE Mar 2023	23.80	Cons.
FYE Mar 2024	17.10	Cons.
FYE Mar 2025	12.70	Cons.
FYE Mar 2026	20.30	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 2.54×

Average · 10 yrs 1.08×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.96	Cons.
FYE Mar 2018	1.02	Cons.
FYE Mar 2019	0.99	Cons.
FYE Mar 2020	0.70	Cons.
FYE Mar 2021	0.69	Cons.
FYE Mar 2022	0.79	Cons.
FYE Mar 2023	0.92	Cons.
FYE Mar 2024	1.14	Cons.
FYE Mar 2025	1.08	Cons.
FYE Mar 2026	2.54	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 11,326people

Change · 10 yrs −1,739 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	13,065	n/a	Cons.
FYE Mar 2018	12,033	−7.9%	Cons.
FYE Mar 2019	12,020	−0.1%	Cons.
FYE Mar 2020	11,947	−0.6%	Cons.
FYE Mar 2021	12,092	+1.2%	Cons.
FYE Mar 2022	11,984	−0.9%	Cons.
FYE Mar 2023	11,843	−1.2%	Cons.
FYE Mar 2024	11,740	−0.9%	Cons.
FYE Mar 2025	11,367	−3.2%	Cons.
FYE Mar 2026	11,326	−0.4%	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 175people

Change · 10 yrs +31 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	144	n/a	Parent
FYE Mar 2018	137	−4.9%	Parent
FYE Mar 2019	141	+2.9%	Parent
FYE Mar 2020	143	+1.4%	Parent
FYE Mar 2021	356	+149.0%	Parent
FYE Mar 2022	361	+1.4%	Parent
FYE Mar 2023	171	−52.6%	Parent
FYE Mar 2024	169	−1.2%	Parent
FYE Mar 2025	180	+6.5%	Parent
FYE Mar 2026	175	−2.8%	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 ¥9.4m

Change · 8 yrs +¥1.4m

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	8.0	n/a	Parent
FYE Mar 2020	8.2	+3.1%	Parent
FYE Mar 2021	6.9	−16.3%	Parent
FYE Mar 2022	7.4	+7.7%	Parent
FYE Mar 2023	8.0	+8.2%	Parent
FYE Mar 2024	8.3	+3.6%	Parent
FYE Mar 2025	8.8	+5.3%	Parent
FYE Mar 2026	9.4	+7.7%	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 44.2years

Change · 8 yrs −1.0 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	45.2	n/a	Parent
FYE Mar 2020	45.7	+1.1%	Parent
FYE Mar 2021	45.2	−1.1%	Parent
FYE Mar 2022	45.7	+1.1%	Parent
FYE Mar 2023	45.4	−0.7%	Parent
FYE Mar 2024	44.3	−2.4%	Parent
FYE Mar 2025	43.8	−1.1%	Parent
FYE Mar 2026	44.2	+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 Mar 2026 15.8years

Change · 8 yrs −5.1 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	20.9	n/a	Parent
FYE Mar 2020	22.0	+5.3%	Parent
FYE Mar 2021	20.3	−7.7%	Parent
FYE Mar 2022	20.6	+1.5%	Parent
FYE Mar 2023	19.7	−4.4%	Parent
FYE Mar 2024	18.3	−7.1%	Parent
FYE Mar 2025	16.4	−10.4%	Parent
FYE Mar 2026	15.8	−3.7%	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 n/a

Change · 9 yrs −534 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	827	n/a	n/a
FYE Mar 2018	798	−3.5%	n/a
FYE Mar 2019	772	−3.3%	n/a
FYE Mar 2020	603	−21.9%	n/a
FYE Mar 2021	500	−17.1%	n/a
FYE Mar 2022	453	−9.4%	n/a
FYE Mar 2023	390	−13.9%	n/a
FYE Mar 2024	325	−16.7%	n/a
FYE Mar 2025	293	−9.8%	n/a
FYE Mar 2026	n/a	n/a	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 ¥29.6m

Change · 10 yrs +¥10.0m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	19.7	n/a	Cons.
FYE Mar 2018	22.3	+13.4%	Cons.
FYE Mar 2019	20.6	−7.8%	Cons.
FYE Mar 2020	20.0	−2.7%	Cons.
FYE Mar 2021	16.8	−16.3%	Cons.
FYE Mar 2022	19.8	+18.2%	Cons.
FYE Mar 2023	22.0	+11.0%	Cons.
FYE Mar 2024	23.6	+7.2%	Cons.
FYE Mar 2025	26.8	+13.7%	Cons.
FYE Mar 2026	29.6	+10.6%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥2.7m

Change · 10 yrs +¥2.2m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons.
FYE Mar 2018	0.9	+57.1%	Cons.
FYE Mar 2019	0.8	−13.2%	Cons.
FYE Mar 2020	0.5	−34.3%	Cons.
FYE Mar 2021	0.2	−64.7%	Cons.
FYE Mar 2022	0.7	+303.3%	Cons.
FYE Mar 2023	0.9	+29.6%	Cons.
FYE Mar 2024	1.3	+32.3%	Cons.
FYE Mar 2025	1.9	+48.9%	Cons.
FYE Mar 2026	2.7	+45.9%	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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