Financials

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

FYE Mar 2026 · Revenue¥661bnYoY +2.5%

FYE Mar 2026 · Operating profit¥38bnYoY +41.5%

FYE Mar 2026 · Net profit¥14bnYoY +164.1%

FYE Mar 2026 · Equity ratio22.6%YoY +1.0pp

FYE Mar 2026 · Group employees38,593YoY −575

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥360bn	n/a	¥29bn	n/a	8.0%	¥11bn	Sano Yoshihiko	—
FYE Mar 2018Consolidated	¥395bn	+9.9%	¥27bn	−5.8%	6.9%	¥12bn	Sano Yoshihiko	Nipro ES Pharma — own-brand generic drugs
FYE Mar 2019Consolidated	¥426bn	+7.8%	¥24bn	−12.0%	5.6%	¥12bn	Sano Yoshihiko	Acquires Machida Seisakusho — endoscopes
FYE Mar 2020Consolidated	¥443bn	+3.8%	¥26bn	+10.9%	6.0%	-¥12bn	Sano Yoshihiko	—
FYE Mar 2021Consolidated	¥456bn	+2.9%	¥28bn	+4.6%	6.1%	¥14bn	Sano Yoshihiko	—
FYE Mar 2022Consolidated	¥495bn	+8.6%	¥24bn	−13.6%	4.8%	¥13bn	Sano Yoshihiko	—
FYE Mar 2023Consolidated	¥545bn	+10.2%	¥18bn	−25.8%	3.3%	¥4.6bn	Sano Yoshihiko	—
FYE Mar 2024Consolidated	¥587bn	+7.6%	¥22bn	+26.0%	3.8%	¥11bn	Sano Yoshihiko	—
FYE Mar 2025Consolidated	¥645bn	+9.9%	¥27bn	+19.1%	4.1%	¥5.1bn	Sano Yoshihiko	—
FYE Mar 2026Consolidated	¥661bn	+2.5%	¥38bn	+41.5%	5.7%	¥14bn	Sano Yoshihiko	<a class="en-history_person" href="/tse/8086/executives/ceo/yamazaki-tsuyoshi/" hreflang="ja">Yamazaki Tsuyoshi</a> becomes the first non-family president

How it compares

Terumo¥1.13tnFY2025Operating margin 15.6%Olympus¥1.01tnFY2025Operating margin 9.6%

Nipro¥661bnFY2025Operating margin 5.7%

Pieichishihorudingusu¥362bnFY2024Operating margin 6.2%

FUKUDA DENSHI¥140bnFY2025Operating margin 19.0%

Menikon¥121bnFY2024Operating margin 8.3%

Asahi Intecc¥120bnFY2025Operating margin 25.1%

Nihonraifurain¥57bnFY2024Operating margin 21.8%

Shoufuu¥39bnFY2024Operating margin 13.9%

Mani¥30bnFY2025Operating margin 27.3%

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 ¥661bn

CAGR · 10 yrs +7.0%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	360	n/a	Cons. · Japanese GAAP
FYE Mar 2018	395	+9.9%	Cons. · Japanese GAAP
FYE Mar 2019	426	+7.8%	Cons. · Japanese GAAP
FYE Mar 2020	443	+3.8%	Cons. · Japanese GAAP
FYE Mar 2021	456	+2.9%	Cons. · Japanese GAAP
FYE Mar 2022	495	+8.6%	Cons. · Japanese GAAP
FYE Mar 2023	545	+10.2%	Cons. · Japanese GAAP
FYE Mar 2024	587	+7.6%	Cons. · Japanese GAAP
FYE Mar 2025	645	+9.9%	Cons. · Japanese GAAP
FYE Mar 2026	661	+2.5%	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 ¥452bn

CAGR · 10 yrs +7.1%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	245	n/a	Cons. · Japanese GAAP
FYE Mar 2018	268	+9.7%	Cons. · Japanese GAAP
FYE Mar 2019	296	+10.2%	Cons. · Japanese GAAP
FYE Mar 2020	308	+4.2%	Cons. · Japanese GAAP
FYE Mar 2021	317	+2.7%	Cons. · Japanese GAAP
FYE Mar 2022	346	+9.1%	Cons. · Japanese GAAP
FYE Mar 2023	382	+10.5%	Cons. · Japanese GAAP
FYE Mar 2024	415	+8.8%	Cons. · Japanese GAAP
FYE Mar 2025	454	+9.2%	Cons. · Japanese GAAP
FYE Mar 2026	452	−0.3%	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 ¥208bn

CAGR · 10 yrs +6.8%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	115	n/a	Cons. · Japanese GAAP
FYE Mar 2018	127	+10.5%	Cons. · Japanese GAAP
FYE Mar 2019	131	+2.8%	Cons. · Japanese GAAP
FYE Mar 2020	134	+2.7%	Cons. · Japanese GAAP
FYE Mar 2021	139	+3.4%	Cons. · Japanese GAAP
FYE Mar 2022	149	+7.5%	Cons. · Japanese GAAP
FYE Mar 2023	163	+9.5%	Cons. · Japanese GAAP
FYE Mar 2024	171	+4.8%	Cons. · Japanese GAAP
FYE Mar 2025	191	+11.4%	Cons. · Japanese GAAP
FYE Mar 2026	208	+9.1%	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 ¥171bn

CAGR · 10 yrs +7.9%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	86.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	100	+15.9%	Cons. · Japanese GAAP
FYE Mar 2019	107	+6.8%	Cons. · Japanese GAAP
FYE Mar 2020	108	+0.9%	Cons. · Japanese GAAP
FYE Mar 2021	111	+3.2%	Cons. · Japanese GAAP
FYE Mar 2022	125	+12.7%	Cons. · Japanese GAAP
FYE Mar 2023	146	+16.2%	Cons. · Japanese GAAP
FYE Mar 2024	149	+2.2%	Cons. · Japanese GAAP
FYE Mar 2025	164	+10.3%	Cons. · Japanese GAAP
FYE Mar 2026	171	+3.9%	Cons. · Japanese GAAP

Definition: The cost of selling and of running the company
Formula: SG&A line of the income statement
Source: Securities report (XBRL)

Operating profit

FYE Mar 2026 ¥38bn

CAGR · 10 yrs +3.0%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	28.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.1	−5.8%	Cons. · Japanese GAAP
FYE Mar 2019	23.8	−12.0%	Cons. · Japanese GAAP
FYE Mar 2020	26.4	+10.9%	Cons. · Japanese GAAP
FYE Mar 2021	27.6	+4.6%	Cons. · Japanese GAAP
FYE Mar 2022	23.9	−13.6%	Cons. · Japanese GAAP
FYE Mar 2023	17.7	−25.8%	Cons. · Japanese GAAP
FYE Mar 2024	22.3	+26.0%	Cons. · Japanese GAAP
FYE Mar 2025	26.6	+19.1%	Cons. · Japanese GAAP
FYE Mar 2026	37.6	+41.5%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥5.3bn

CAGR · 10 yrs +4.6%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.0	+13.0%	Cons. · Japanese GAAP
FYE Mar 2019	5.4	+34.9%	Cons. · Japanese GAAP
FYE Mar 2020	5.1	−4.6%	Cons. · Japanese GAAP
FYE Mar 2021	5.5	+8.0%	Cons. · Japanese GAAP
FYE Mar 2022	10.5	+90.2%	Cons. · Japanese GAAP
FYE Mar 2023	7.3	−30.6%	Cons. · Japanese GAAP
FYE Mar 2024	8.9	+22.4%	Cons. · Japanese GAAP
FYE Mar 2025	5.5	−38.0%	Cons. · Japanese GAAP
FYE Mar 2026	5.3	−4.6%	Cons. · Japanese GAAP

Definition: Income from outside the core business
Formula: Non-operating income line of the income statement
Source: Securities report (XBRL)

Non-operating expenses

FYE Mar 2026 ¥23bn

CAGR · 10 yrs +10.9%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	9.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.4	−8.2%	Cons. · Japanese GAAP
FYE Mar 2019	6.8	−19.3%	Cons. · Japanese GAAP
FYE Mar 2020	8.1	+20.1%	Cons. · Japanese GAAP
FYE Mar 2021	6.9	−15.2%	Cons. · Japanese GAAP
FYE Mar 2022	6.8	−1.0%	Cons. · Japanese GAAP
FYE Mar 2023	9.7	+41.9%	Cons. · Japanese GAAP
FYE Mar 2024	11.8	+21.5%	Cons. · Japanese GAAP
FYE Mar 2025	21.3	+81.2%	Cons. · Japanese GAAP
FYE Mar 2026	23.2	+8.8%	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 ¥20bn

CAGR · 10 yrs −1.8%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	23.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.7	−2.1%	Cons. · Japanese GAAP
FYE Mar 2019	22.4	−1.1%	Cons. · Japanese GAAP
FYE Mar 2020	23.4	+4.4%	Cons. · Japanese GAAP
FYE Mar 2021	26.3	+12.2%	Cons. · Japanese GAAP
FYE Mar 2022	27.6	+5.0%	Cons. · Japanese GAAP
FYE Mar 2023	15.3	−44.4%	Cons. · Japanese GAAP
FYE Mar 2024	19.5	+27.1%	Cons. · Japanese GAAP
FYE Mar 2025	10.8	−44.6%	Cons. · Japanese GAAP
FYE Mar 2026	19.7	+82.3%	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 ¥19bn

CAGR · 10 yrs +27.8%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	2.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.4	+13.5%	Cons. · Japanese GAAP
FYE Mar 2019	2.1	−11.3%	Cons. · Japanese GAAP
FYE Mar 2020	4.8	+123.6%	Cons. · Japanese GAAP
FYE Mar 2021	2.9	−40.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.8	−70.7%	Cons. · Japanese GAAP
FYE Mar 2023	5.8	+585.9%	Cons. · Japanese GAAP
FYE Mar 2024	7.9	+36.3%	Cons. · Japanese GAAP
FYE Mar 2025	18.0	+128.9%	Cons. · Japanese GAAP
FYE Mar 2026	19.4	+7.6%	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥14bn

CAGR · 10 yrs +2.0%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	11.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.8	+4.3%	Cons. · Japanese GAAP
FYE Mar 2019	12.1	+2.6%	Cons. · Japanese GAAP
FYE Mar 2020	-12.3	−201.2%	Cons. · Japanese GAAP
FYE Mar 2021	14.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	13.5	−5.3%	Cons. · Japanese GAAP
FYE Mar 2023	4.6	−66.0%	Cons. · Japanese GAAP
FYE Mar 2024	11.1	+142.9%	Cons. · Japanese GAAP
FYE Mar 2025	5.1	−54.0%	Cons. · Japanese GAAP
FYE Mar 2026	13.5	+164.1%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 31.5%

Average · 10 yrs 30.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	32.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	30.6	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	30.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	30.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	30.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	30.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	29.2	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	29.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	31.5	+1.9pp	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 5.7%

Average · 10 yrs 5.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	8.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.9	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	5.6	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	6.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	6.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	4.8	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	3.3	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2024	3.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	4.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	5.7	+1.6pp	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 3.0%

Average · 10 yrs 4.5%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	6.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	5.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	5.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	5.8	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	5.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	2.8	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2024	3.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	1.7	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	3.0	+1.3pp	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 2.0%

Average · 10 yrs 1.8%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	2.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	-2.8	−5.6pp	Cons. · Japanese GAAP
FYE Mar 2021	3.1	+5.9pp	Cons. · Japanese GAAP
FYE Mar 2022	2.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	0.8	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	1.9	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	0.8	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	2.0	+1.3pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 68.5%

Average · 10 yrs 69.4%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	68.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	67.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	69.4	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	69.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	69.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	69.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	70.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	70.8	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	70.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	68.5	−1.9pp	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 25.8%

Average · 10 yrs 25.2%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	24.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.3	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	25.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	24.4	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	24.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	25.3	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	26.7	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	25.4	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	25.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	25.8	+0.3pp	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 ¥1.21tn

CAGR · 10 yrs +5.4%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	753	n/a	Cons. · Japanese GAAP
FYE Mar 2018	826	+9.8%	Cons. · Japanese GAAP
FYE Mar 2019	846	+2.3%	Cons. · Japanese GAAP
FYE Mar 2020	832	−1.6%	Cons. · Japanese GAAP
FYE Mar 2021	854	+2.7%	Cons. · Japanese GAAP
FYE Mar 2022	930	+8.9%	Cons. · Japanese GAAP
FYE Mar 2023	1,027	+10.4%	Cons. · Japanese GAAP
FYE Mar 2024	1,110	+8.0%	Cons. · Japanese GAAP
FYE Mar 2025	1,171	+5.5%	Cons. · Japanese GAAP
FYE Mar 2026	1,213	+3.7%	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 ¥274bn

CAGR · 10 yrs +5.7%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	166	n/a	Cons. · Japanese GAAP
FYE Mar 2018	173	+3.9%	Cons. · Japanese GAAP
FYE Mar 2019	161	−6.4%	Cons. · Japanese GAAP
FYE Mar 2020	149	−7.9%	Cons. · Japanese GAAP
FYE Mar 2021	161	+8.2%	Cons. · Japanese GAAP
FYE Mar 2022	185	+15.0%	Cons. · Japanese GAAP
FYE Mar 2023	206	+11.4%	Cons. · Japanese GAAP
FYE Mar 2024	233	+12.8%	Cons. · Japanese GAAP
FYE Mar 2025	252	+8.5%	Cons. · Japanese GAAP
FYE Mar 2026	274	+8.6%	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 ¥465bn

CAGR · 10 yrs +1.7%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	399	n/a	Cons. · Japanese GAAP
FYE Mar 2018	468	+17.3%	Cons. · Japanese GAAP
FYE Mar 2019	488	+4.3%	Cons. · Japanese GAAP
FYE Mar 2020	468	−4.1%	Cons. · Japanese GAAP
FYE Mar 2021	428	−8.6%	Cons. · Japanese GAAP
FYE Mar 2022	418	−2.3%	Cons. · Japanese GAAP
FYE Mar 2023	447	+6.9%	Cons. · Japanese GAAP
FYE Mar 2024	463	+3.6%	Cons. · Japanese GAAP
FYE Mar 2025	466	+0.6%	Cons. · Japanese GAAP
FYE Mar 2026	465	−0.2%	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Mar 2026 ¥186bn

CAGR · 10 yrs +5.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	118	n/a	Cons. · Japanese GAAP
FYE Mar 2018	118	−0.2%	Cons. · Japanese GAAP
FYE Mar 2019	139	+18.4%	Cons. · Japanese GAAP
FYE Mar 2020	135	−2.8%	Cons. · Japanese GAAP
FYE Mar 2021	134	−1.1%	Cons. · Japanese GAAP
FYE Mar 2022	151	+12.5%	Cons. · Japanese GAAP
FYE Mar 2023	131	−13.3%	Cons. · Japanese GAAP
FYE Mar 2024	160	+22.8%	Cons. · Japanese GAAP
FYE Mar 2025	156	−2.6%	Cons. · Japanese GAAP
FYE Mar 2026	186	+19.1%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Mar 2026 ¥279bn

CAGR · 10 yrs −0.1%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	281	n/a	Cons. · Japanese GAAP
FYE Mar 2018	351	+24.7%	Cons. · Japanese GAAP
FYE Mar 2019	349	−0.4%	Cons. · Japanese GAAP
FYE Mar 2020	333	−4.6%	Cons. · Japanese GAAP
FYE Mar 2021	294	−11.6%	Cons. · Japanese GAAP
FYE Mar 2022	268	−9.1%	Cons. · Japanese GAAP
FYE Mar 2023	317	+18.3%	Cons. · Japanese GAAP
FYE Mar 2024	303	−4.3%	Cons. · Japanese GAAP
FYE Mar 2025	310	+2.4%	Cons. · Japanese GAAP
FYE Mar 2026	279	−9.9%	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 Mar 2026 ¥52bn

CAGR · 10 yrs +1.9%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	43.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	46.0	+4.9%	Cons. · Japanese GAAP
FYE Mar 2019	39.4	−14.3%	Cons. · Japanese GAAP
FYE Mar 2020	33.4	−15.2%	Cons. · Japanese GAAP
FYE Mar 2021	29.8	−10.8%	Cons. · Japanese GAAP
FYE Mar 2022	32.8	+10.1%	Cons. · Japanese GAAP
FYE Mar 2023	34.0	+3.6%	Cons. · Japanese GAAP
FYE Mar 2024	35.1	+3.3%	Cons. · Japanese GAAP
FYE Mar 2025	35.5	+1.0%	Cons. · Japanese GAAP
FYE Mar 2026	51.7	+45.6%	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 ¥32bn

CAGR · 10 yrs +1.6%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	28.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.4	−2.3%	Cons. · Japanese GAAP
FYE Mar 2019	19.3	−29.4%	Cons. · Japanese GAAP
FYE Mar 2020	14.7	−23.7%	Cons. · Japanese GAAP
FYE Mar 2021	13.6	−8.0%	Cons. · Japanese GAAP
FYE Mar 2022	15.1	+11.0%	Cons. · Japanese GAAP
FYE Mar 2023	14.5	−3.6%	Cons. · Japanese GAAP
FYE Mar 2024	15.6	+7.5%	Cons. · Japanese GAAP
FYE Mar 2025	14.1	−9.7%	Cons. · Japanese GAAP
FYE Mar 2026	32.3	+129.1%	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 22.6%

Average · 10 yrs 20.4%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	22.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.9	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	19.1	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2020	17.9	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	18.8	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	19.9	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2023	20.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	21.0	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	21.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	22.6	+1.0pp	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 169.8%

Average · 10 yrs 239.1%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	240.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	271.2	+30.9pp	Cons. · Japanese GAAP
FYE Mar 2019	302.4	+31.2pp	Cons. · Japanese GAAP
FYE Mar 2020	314.8	+12.4pp	Cons. · Japanese GAAP
FYE Mar 2021	266.0	−48.8pp	Cons. · Japanese GAAP
FYE Mar 2022	225.8	−40.2pp	Cons. · Japanese GAAP
FYE Mar 2023	216.7	−9.1pp	Cons. · Japanese GAAP
FYE Mar 2024	199.1	−17.6pp	Cons. · Japanese GAAP
FYE Mar 2025	184.7	−14.4pp	Cons. · Japanese GAAP
FYE Mar 2026	169.8	−14.9pp	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 4.9%

Average · 10 yrs 4.3%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	7.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	-8.3	−15.8pp	Cons. · Japanese GAAP
FYE Mar 2021	8.8	+17.1pp	Cons. · Japanese GAAP
FYE Mar 2022	7.3	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2023	2.2	−5.0pp	Cons. · Japanese GAAP
FYE Mar 2024	4.8	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2025	2.0	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2026	4.9	+2.9pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 1.1%

Average · 10 yrs 0.9%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	1.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.4	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	1.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	-1.5	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2021	1.7	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2022	1.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	0.4	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	1.0	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	0.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	1.1	+0.7pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.54×

CAGR · 10 yrs +1.5%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.48	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.48	+0.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.50	+5.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.53	+5.5%	Cons. · Japanese GAAP
FYE Mar 2021	0.53	+0.2%	Cons. · Japanese GAAP
FYE Mar 2022	0.53	−0.3%	Cons. · Japanese GAAP
FYE Mar 2023	0.53	−0.2%	Cons. · Japanese GAAP
FYE Mar 2024	0.53	−0.4%	Cons. · Japanese GAAP
FYE Mar 2025	0.55	+4.2%	Cons. · Japanese GAAP
FYE Mar 2026	0.54	−1.1%	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 Mar 2026 ¥55bn

CAGR · 10 yrs +5.6%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	33.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.0	+22.6%	Cons. · Japanese GAAP
FYE Mar 2019	41.4	+0.8%	Cons. · Japanese GAAP
FYE Mar 2020	37.2	−10.0%	Cons. · Japanese GAAP
FYE Mar 2021	66.1	+77.4%	Cons. · Japanese GAAP
FYE Mar 2022	68.2	+3.2%	Cons. · Japanese GAAP
FYE Mar 2023	10.4	−84.8%	Cons. · Japanese GAAP
FYE Mar 2024	72.9	+601.6%	Cons. · Japanese GAAP
FYE Mar 2025	68.5	−6.1%	Cons. · Japanese GAAP
FYE Mar 2026	54.7	−20.2%	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 -¥55bn

Average · 10 yrs -¥66bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-66.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-64.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-64.7	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-58.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-45.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-78.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-71.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-87.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-71.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-55.3	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 -¥8.1bn

Average · 10 yrs ¥14bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	36.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	47.3	+29.8%	Cons. · Japanese GAAP
FYE Mar 2019	12.6	−73.3%	Cons. · Japanese GAAP
FYE Mar 2020	-4.6	−136.1%	Cons. · Japanese GAAP
FYE Mar 2021	-22.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	10.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	43.1	+318.3%	Cons. · Japanese GAAP
FYE Mar 2024	22.1	−48.6%	Cons. · Japanese GAAP
FYE Mar 2025	5.4	−75.7%	Cons. · Japanese GAAP
FYE Mar 2026	-8.1	−251.1%	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 ¥88bn

CAGR · 10 yrs −2.6%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	112	n/a	Cons. · Japanese GAAP
FYE Mar 2018	136	+21.0%	Cons. · Japanese GAAP
FYE Mar 2019	120	−11.3%	Cons. · Japanese GAAP
FYE Mar 2020	90.2	−25.1%	Cons. · Japanese GAAP
FYE Mar 2021	85.8	−4.8%	Cons. · Japanese GAAP
FYE Mar 2022	90.1	+5.0%	Cons. · Japanese GAAP
FYE Mar 2023	84.7	−6.0%	Cons. · Japanese GAAP
FYE Mar 2024	96.6	+14.0%	Cons. · Japanese GAAP
FYE Mar 2025	102	+5.3%	Cons. · Japanese GAAP
FYE Mar 2026	88.4	−13.1%	Cons. · Japanese GAAP

Definition: Cash on hand at the year end
Formula: Closing balance in the cash flow statement
Source: Securities report (XBRL)

Free cash flow

FYE Mar 2026 -¥0.7bn

Average · 10 yrs -¥17bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-32.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-23.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-23.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-21.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	21.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-10.2	−148.6%	Cons. · Japanese GAAP
FYE Mar 2023	-61.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-14.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-3.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-0.7	n/a	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 8.3%

Average · 10 yrs 9.9%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	9.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.4	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	9.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	8.4	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	14.5	+6.1pp	Cons. · Japanese GAAP
FYE Mar 2022	13.8	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	1.9	−11.9pp	Cons. · Japanese GAAP
FYE Mar 2024	12.4	+10.5pp	Cons. · Japanese GAAP
FYE Mar 2025	10.6	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	8.3	−2.3pp	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 -¥377bn

Average · 10 yrs -¥351bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-287	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-333	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-368	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-378	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-342	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-328	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-362	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-367	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-365	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-377	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 ¥266bn

Change · 9 yrs −¥3.1bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	269	n/a
FYE Mar 2018	264	n/a
FYE Mar 2019	245	n/a
FYE Mar 2020	n/a	n/a
FYE Mar 2021	229	n/a
FYE Mar 2022	176	n/a
FYE Mar 2023	175	n/a
FYE Mar 2024	210	n/a
FYE Mar 2025	233	n/a
FYE Mar 2026	266	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 1,552¥

Change · 9 yrs −18¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,570	n/a
FYE Mar 2018	1,537	n/a
FYE Mar 2019	1,429	n/a
FYE Mar 2020	n/a	n/a
FYE Mar 2021	1,337	n/a
FYE Mar 2022	1,024	n/a
FYE Mar 2023	1,019	n/a
FYE Mar 2024	1,225	n/a
FYE Mar 2025	1,359	n/a
FYE Mar 2026	1,552	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 171,459,000shares

Change · 10 yrs −0 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	171,459,000	Parent
FYE Mar 2018	171,459,000	Parent
FYE Mar 2019	171,459,000	Parent
FYE Mar 2020	171,459,000	Parent
FYE Mar 2021	171,459,000	Parent
FYE Mar 2022	171,459,000	Parent
FYE Mar 2023	171,459,000	Parent
FYE Mar 2024	171,459,000	Parent
FYE Mar 2025	171,459,000	Parent
FYE Mar 2026	171,459,000	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 82.80¥

Change · 10 yrs +15.22¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	67.58	Cons.
FYE Mar 2018	71.15	Cons.
FYE Mar 2019	73.68	Cons.
FYE Mar 2020	-75.30	Cons.
FYE Mar 2021	87.12	Cons.
FYE Mar 2022	82.50	Cons.
FYE Mar 2023	28.05	Cons.
FYE Mar 2024	68.12	Cons.
FYE Mar 2025	31.36	Cons.
FYE Mar 2026	82.80	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 1,598.73¥

Change · 10 yrs +630.09¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	968.65	Cons. · Japanese GAAP
FYE Mar 2018	1,006.78	Cons. · Japanese GAAP
FYE Mar 2019	941.85	Cons. · Japanese GAAP
FYE Mar 2020	867.76	Cons. · Japanese GAAP
FYE Mar 2021	939.15	Cons. · Japanese GAAP
FYE Mar 2022	1,080.37	Cons. · Japanese GAAP
FYE Mar 2023	1,203.30	Cons. · Japanese GAAP
FYE Mar 2024	1,356.97	Cons. · Japanese GAAP
FYE Mar 2025	1,472.34	Cons. · Japanese GAAP
FYE Mar 2026	1,598.73	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 18.74×

Average · 9 yrs 23.15×

Fiscal year	PER ×	Basis
FYE Mar 2017	23.23	Cons.
FYE Mar 2018	21.60	Cons.
FYE Mar 2019	19.39	Cons.
FYE Mar 2020	n/a	Cons.
FYE Mar 2021	15.35	Cons.
FYE Mar 2022	12.41	Cons.
FYE Mar 2023	36.33	Cons.
FYE Mar 2024	17.99	Cons.
FYE Mar 2025	43.33	Cons.
FYE Mar 2026	18.74	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 0.92×

Average · 9 yrs 1.13×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.57	Cons.
FYE Mar 2018	1.48	Cons.
FYE Mar 2019	1.44	Cons.
FYE Mar 2020	n/a	Cons.
FYE Mar 2021	1.35	Cons.
FYE Mar 2022	0.90	Cons.
FYE Mar 2023	0.81	Cons.
FYE Mar 2024	0.86	Cons.
FYE Mar 2025	0.88	Cons.
FYE Mar 2026	0.92	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 38,593people

Change · 10 yrs +11,178 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	27,415	n/a	Cons.
FYE Mar 2018	28,330	+3.3%	Cons.
FYE Mar 2019	29,325	+3.5%	Cons.
FYE Mar 2020	32,786	+11.8%	Cons.
FYE Mar 2021	35,251	+7.5%	Cons.
FYE Mar 2022	36,259	+2.9%	Cons.
FYE Mar 2023	38,770	+6.9%	Cons.
FYE Mar 2024	38,117	−1.7%	Cons.
FYE Mar 2025	39,168	+2.8%	Cons.
FYE Mar 2026	38,593	−1.5%	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 4,714people

Change · 10 yrs +1,347 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	3,367	n/a	Parent
FYE Mar 2018	3,499	+3.9%	Parent
FYE Mar 2019	3,893	+11.3%	Parent
FYE Mar 2020	4,060	+4.3%	Parent
FYE Mar 2021	4,150	+2.2%	Parent
FYE Mar 2022	4,252	+2.5%	Parent
FYE Mar 2023	4,390	+3.2%	Parent
FYE Mar 2024	4,388	−0.0%	Parent
FYE Mar 2025	4,563	+4.0%	Parent
FYE Mar 2026	4,714	+3.3%	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 681万円

Change · 8 yrs +86万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	595	n/a	Parent
FYE Mar 2020	537	−9.8%	Parent
FYE Mar 2021	619	+15.2%	Parent
FYE Mar 2022	658	+6.4%	Parent
FYE Mar 2023	574	−12.9%	Parent
FYE Mar 2024	575	+0.3%	Parent
FYE Mar 2025	659	+14.6%	Parent
FYE Mar 2026	681	+3.4%	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 40.8years

Change · 8 yrs +0.4 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	40.4	n/a	Parent
FYE Mar 2020	40.7	+0.7%	Parent
FYE Mar 2021	40.7	−0.0%	Parent
FYE Mar 2022	40.7	−0.0%	Parent
FYE Mar 2023	40.7	−0.0%	Parent
FYE Mar 2024	40.7	−0.0%	Parent
FYE Mar 2025	40.8	+0.2%	Parent
FYE Mar 2026	40.8	−0.0%	Parent

Definition: Average age of the parent company's employees
Formula: Average age, from the employee section of the filing
Source: Securities report (XBRL)

Average length of service

FYE Mar 2026 13.3years

Change · 8 yrs +1.3 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	12.0	n/a	Parent
FYE Mar 2020	12.9	+7.5%	Parent
FYE Mar 2021	12.9	−0.0%	Parent
FYE Mar 2022	13.1	+1.6%	Parent
FYE Mar 2023	13.2	+0.8%	Parent
FYE Mar 2024	13.4	+1.5%	Parent
FYE Mar 2025	13.3	−0.7%	Parent
FYE Mar 2026	13.3	−0.0%	Parent

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

Temporary employees

FYE Mar 2026 1,170people

Change · 10 yrs −136 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	1,306	n/a	n/a
FYE Mar 2018	1,209	−7.4%	n/a
FYE Mar 2019	1,136	−6.0%	n/a
FYE Mar 2020	1,129	−0.6%	n/a
FYE Mar 2021	921	−18.4%	n/a
FYE Mar 2022	976	+6.0%	n/a
FYE Mar 2023	943	−3.4%	n/a
FYE Mar 2024	1,116	+18.3%	n/a
FYE Mar 2025	1,422	+27.4%	n/a
FYE Mar 2026	1,170	−17.7%	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 Mar 2026 ¥17.1m

Change · 10 yrs +¥4.0m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	13.1	n/a	Cons.
FYE Mar 2018	14.0	+6.4%	Cons.
FYE Mar 2019	14.5	+4.2%	Cons.
FYE Mar 2020	13.5	−7.2%	Cons.
FYE Mar 2021	12.9	−4.3%	Cons.
FYE Mar 2022	13.6	+5.6%	Cons.
FYE Mar 2023	14.1	+3.1%	Cons.
FYE Mar 2024	15.4	+9.5%	Cons.
FYE Mar 2025	16.5	+6.9%	Cons.
FYE Mar 2026	17.1	+4.0%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥1.0m

Change · 10 yrs −¥0.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	1.0	n/a	Cons.
FYE Mar 2018	1.0	−8.9%	Cons.
FYE Mar 2019	0.8	−15.0%	Cons.
FYE Mar 2020	0.8	−0.8%	Cons.
FYE Mar 2021	0.8	−2.7%	Cons.
FYE Mar 2022	0.7	−16.0%	Cons.
FYE Mar 2023	0.5	−30.6%	Cons.
FYE Mar 2024	0.6	+28.1%	Cons.
FYE Mar 2025	0.7	+15.9%	Cons.
FYE Mar 2026	1.0	+43.6%	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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