Financials

Shimamura: FYE Feb 2026 and ten years of results (47 metrics)

FYE Feb 2026 · Revenue¥700bnYoY +5.2%

FYE Feb 2026 · Operating profit¥61bnYoY +3.8%

FYE Feb 2026 · Net profit¥44bnYoY +6.1%

FYE Feb 2026 · Equity ratio88.1%YoY −0.3pp

FYE Feb 2026 · Group employees3,393YoY +140

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Feb 2017Consolidated	¥565bn	n/a	¥49bn	n/a	8.6%	¥33bn	Nonaka Masato	—
FYE Feb 2018Consolidated	¥565bn	−0.1%	¥43bn	−12.1%	7.6%	¥30bn	Nonaka Masato	Record year: revenue <span class="en-history_money" data-yen="565500000000" data-year="2017">$5.0B (¥566bn)</span>, 8.6% operating margin
FYE Feb 2019Consolidated	¥546bn	−3.4%	¥25bn	−40.7%	4.7%	¥16bn	Nonaka Masato	<a class="en-history_person" href="/tse/8227/executives/ceo/kitajima-tsuneyoshi/" hreflang="ja">Kitajima Tsuneyoshi</a> succeeds Nonaka as profit falls
FYE Feb 2020Consolidated	¥522bn	−4.4%	¥23bn	−9.7%	4.4%	¥13bn	Kitajima Tsuneyoshi	—
FYE Feb 2021Consolidated	¥543bn	+4.0%	¥38bn	+65.4%	7.0%	¥26bn	Kitajima Tsuneyoshi	Third straight year of declining profit
FYE Feb 2022Consolidated	¥584bn	+7.6%	¥49bn	+30.0%	8.5%	¥35bn	Suzuki Makoto	Mid-term plan “Re-Born” — restore the assortment
FYE Feb 2023Consolidated	¥616bn	+5.6%	¥53bn	+7.9%	8.7%	¥38bn	Suzuki Makoto	—
FYE Feb 2024Consolidated	¥635bn	+3.1%	¥55bn	+3.8%	8.7%	¥40bn	Suzuki Makoto	—
FYE Feb 2025Consolidated	¥665bn	+4.8%	¥59bn	+7.1%	8.9%	¥42bn	Suzuki Makoto	“Next Challenge 2027”; four straight years of profit growth
FYE Feb 2026Consolidated	¥700bn	+5.2%	¥61bn	+3.8%	8.8%	¥44bn	Suzuki Makoto	Record year (<span class="en-history_money" data-yen="665400000000" data-year="2025">$4.4B (¥665bn)</span>); <a class="en-history_person" href="/tse/8227/executives/ceo/takahashi-iichiro/" hreflang="ja">Takahashi Iichiro</a> becomes president

How it compares

Fast Retailing (Uniqlo)¥3.40tnFY2025Operating margin 16.6%

Shimamura¥700bnFY2025Operating margin 8.8%

Aokihorudingusu¥193bnFY2024Operating margin 8.1%

AOYAMA TRADING Co. Ltd.¥189bnFY2025Operating margin 5.6%Workman¥161bnFY2025Operating margin 18.4%

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 Feb 2026 ¥700bn

CAGR · 10 yrs +2.4%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Feb 2017	565	n/a	Cons. · Japanese GAAP
FYE Feb 2018	565	−0.1%	Cons. · Japanese GAAP
FYE Feb 2019	546	−3.4%	Cons. · Japanese GAAP
FYE Feb 2020	522	−4.4%	Cons. · Japanese GAAP
FYE Feb 2021	543	+4.0%	Cons. · Japanese GAAP
FYE Feb 2022	584	+7.6%	Cons. · Japanese GAAP
FYE Feb 2023	616	+5.6%	Cons. · Japanese GAAP
FYE Feb 2024	635	+3.1%	Cons. · Japanese GAAP
FYE Feb 2025	665	+4.8%	Cons. · Japanese GAAP
FYE Feb 2026	700	+5.2%	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 Feb 2026 ¥456bn

CAGR · 10 yrs +2.1%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Feb 2017	378	n/a	Cons. · Japanese GAAP
FYE Feb 2018	376	−0.6%	Cons. · Japanese GAAP
FYE Feb 2019	372	−0.9%	Cons. · Japanese GAAP
FYE Feb 2020	352	−5.3%	Cons. · Japanese GAAP
FYE Feb 2021	359	+1.8%	Cons. · Japanese GAAP
FYE Feb 2022	385	+7.3%	Cons. · Japanese GAAP
FYE Feb 2023	406	+5.6%	Cons. · Japanese GAAP
FYE Feb 2024	417	+2.6%	Cons. · Japanese GAAP
FYE Feb 2025	434	+4.3%	Cons. · Japanese GAAP
FYE Feb 2026	456	+5.0%	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 ¥244bn

CAGR · 10 yrs +3.0%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Feb 2017	188	n/a	Cons. · Japanese GAAP
FYE Feb 2018	189	+1.0%	Cons. · Japanese GAAP
FYE Feb 2019	174	−8.3%	Cons. · Japanese GAAP
FYE Feb 2020	170	−2.4%	Cons. · Japanese GAAP
FYE Feb 2021	184	+8.5%	Cons. · Japanese GAAP
FYE Feb 2022	199	+8.1%	Cons. · Japanese GAAP
FYE Feb 2023	210	+5.6%	Cons. · Japanese GAAP
FYE Feb 2024	219	+4.1%	Cons. · Japanese GAAP
FYE Feb 2025	231	+5.6%	Cons. · Japanese GAAP
FYE Feb 2026	244	+5.6%	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 ¥184bn

CAGR · 10 yrs +3.1%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Feb 2017	140	n/a	Cons. · Japanese GAAP
FYE Feb 2018	148	+5.5%	Cons. · Japanese GAAP
FYE Feb 2019	149	+1.2%	Cons. · Japanese GAAP
FYE Feb 2020	148	−1.1%	Cons. · Japanese GAAP
FYE Feb 2021	147	−0.4%	Cons. · Japanese GAAP
FYE Feb 2022	151	+2.5%	Cons. · Japanese GAAP
FYE Feb 2023	158	+4.9%	Cons. · Japanese GAAP
FYE Feb 2024	165	+4.2%	Cons. · Japanese GAAP
FYE Feb 2025	173	+5.1%	Cons. · Japanese GAAP
FYE Feb 2026	184	+6.2%	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 ¥61bn

CAGR · 10 yrs +2.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Feb 2017	48.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	42.9	−12.1%	Cons. · Japanese GAAP
FYE Feb 2019	25.5	−40.7%	Cons. · Japanese GAAP
FYE Feb 2020	23.0	−9.7%	Cons. · Japanese GAAP
FYE Feb 2021	38.0	+65.4%	Cons. · Japanese GAAP
FYE Feb 2022	49.4	+30.0%	Cons. · Japanese GAAP
FYE Feb 2023	53.3	+7.9%	Cons. · Japanese GAAP
FYE Feb 2024	55.3	+3.8%	Cons. · Japanese GAAP
FYE Feb 2025	59.2	+7.1%	Cons. · Japanese GAAP
FYE Feb 2026	61.5	+3.8%	Cons. · Japanese GAAP

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

Non-operating income

FYE Feb 2026 ¥2.2bn

CAGR · 10 yrs +6.0%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Feb 2017	1.3	n/a	Cons. · Japanese GAAP
FYE Feb 2018	1.0	−19.7%	Cons. · Japanese GAAP
FYE Feb 2019	0.9	−12.1%	Cons. · Japanese GAAP
FYE Feb 2020	0.9	−3.2%	Cons. · Japanese GAAP
FYE Feb 2021	1.4	+55.9%	Cons. · Japanese GAAP
FYE Feb 2022	1.2	−15.8%	Cons. · Japanese GAAP
FYE Feb 2023	1.1	−6.7%	Cons. · Japanese GAAP
FYE Feb 2024	1.4	+30.0%	Cons. · Japanese GAAP
FYE Feb 2025	1.6	+10.2%	Cons. · Japanese GAAP
FYE Feb 2026	2.2	+40.8%	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 ¥4.0m

CAGR · 10 yrs −13.0%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Feb 2017	14.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	20.0	+42.9%	Cons. · Japanese GAAP
FYE Feb 2019	123	+515.0%	Cons. · Japanese GAAP
FYE Feb 2020	18.0	−85.4%	Cons. · Japanese GAAP
FYE Feb 2021	7.0	−61.1%	Cons. · Japanese GAAP
FYE Feb 2022	19.0	+171.4%	Cons. · Japanese GAAP
FYE Feb 2023	7.0	−63.2%	Cons. · Japanese GAAP
FYE Feb 2024	6.0	−14.3%	Cons. · Japanese GAAP
FYE Feb 2025	202	+3266.7%	Cons. · Japanese GAAP
FYE Feb 2026	4.0	−98.0%	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 ¥64bn

CAGR · 10 yrs +2.7%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Feb 2017	50.1	n/a	Cons. · Japanese GAAP
FYE Feb 2018	43.9	−12.3%	Cons. · Japanese GAAP
FYE Feb 2019	26.2	−40.2%	Cons. · Japanese GAAP
FYE Feb 2020	23.9	−9.1%	Cons. · Japanese GAAP
FYE Feb 2021	39.4	+65.2%	Cons. · Japanese GAAP
FYE Feb 2022	50.6	+28.3%	Cons. · Japanese GAAP
FYE Feb 2023	54.4	+7.5%	Cons. · Japanese GAAP
FYE Feb 2024	56.7	+4.3%	Cons. · Japanese GAAP
FYE Feb 2025	60.6	+6.8%	Cons. · Japanese GAAP
FYE Feb 2026	63.7	+5.1%	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 n/a

Average · 5 yrs ¥147m

Fiscal year	Extraordinary income ¥ m	YoY	Basis
FYE Feb 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2021	450	n/a	Cons. · Japanese GAAP
FYE Feb 2022	225	−50.0%	Cons. · Japanese GAAP
FYE Feb 2023	45.0	−80.0%	Cons. · Japanese GAAP
FYE Feb 2024	16.0	−64.4%	Cons. · Japanese GAAP
FYE Feb 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2026	n/a	n/a	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 ¥44bn

CAGR · 10 yrs +3.4%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Feb 2017	32.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	29.7	−9.6%	Cons. · Japanese GAAP
FYE Feb 2019	16.0	−46.2%	Cons. · Japanese GAAP
FYE Feb 2020	13.1	−17.9%	Cons. · Japanese GAAP
FYE Feb 2021	26.2	+99.3%	Cons. · Japanese GAAP
FYE Feb 2022	35.4	+35.4%	Cons. · Japanese GAAP
FYE Feb 2023	38.0	+7.3%	Cons. · Japanese GAAP
FYE Feb 2024	40.1	+5.4%	Cons. · Japanese GAAP
FYE Feb 2025	41.9	+4.5%	Cons. · Japanese GAAP
FYE Feb 2026	44.5	+6.1%	Cons. · Japanese GAAP

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

Gross margin

FYE Feb 2026 34.8%

Average · 10 yrs 33.7%

Fiscal year	Gross margin %	YoY	Basis
FYE Feb 2017	33.2	n/a	Cons. · Japanese GAAP
FYE Feb 2018	33.5	+0.3pp	Cons. · Japanese GAAP
FYE Feb 2019	31.8	−1.7pp	Cons. · Japanese GAAP
FYE Feb 2020	32.5	+0.7pp	Cons. · Japanese GAAP
FYE Feb 2021	33.9	+1.4pp	Cons. · Japanese GAAP
FYE Feb 2022	34.1	+0.2pp	Cons. · Japanese GAAP
FYE Feb 2023	34.1	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2024	34.4	+0.3pp	Cons. · Japanese GAAP
FYE Feb 2025	34.7	+0.3pp	Cons. · Japanese GAAP
FYE Feb 2026	34.8	+0.1pp	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 8.8%

Average · 10 yrs 7.6%

Fiscal year	Operating margin %	YoY	Basis
FYE Feb 2017	8.6	n/a	Cons. · Japanese GAAP
FYE Feb 2018	7.6	−1.0pp	Cons. · Japanese GAAP
FYE Feb 2019	4.7	−2.9pp	Cons. · Japanese GAAP
FYE Feb 2020	4.4	−0.3pp	Cons. · Japanese GAAP
FYE Feb 2021	7.0	+2.6pp	Cons. · Japanese GAAP
FYE Feb 2022	8.5	+1.5pp	Cons. · Japanese GAAP
FYE Feb 2023	8.7	+0.2pp	Cons. · Japanese GAAP
FYE Feb 2024	8.7	+0.1pp	Cons. · Japanese GAAP
FYE Feb 2025	8.9	+0.2pp	Cons. · Japanese GAAP
FYE Feb 2026	8.8	−0.1pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Feb 2026 9.1%

Average · 10 yrs 7.8%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Feb 2017	8.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	7.8	−1.1pp	Cons. · Japanese GAAP
FYE Feb 2019	4.8	−3.0pp	Cons. · Japanese GAAP
FYE Feb 2020	4.6	−0.2pp	Cons. · Japanese GAAP
FYE Feb 2021	7.3	+2.7pp	Cons. · Japanese GAAP
FYE Feb 2022	8.7	+1.4pp	Cons. · Japanese GAAP
FYE Feb 2023	8.8	+0.2pp	Cons. · Japanese GAAP
FYE Feb 2024	8.9	+0.1pp	Cons. · Japanese GAAP
FYE Feb 2025	9.1	+0.2pp	Cons. · Japanese GAAP
FYE Feb 2026	9.1	−0.0pp	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 6.4%

Average · 10 yrs 5.3%

Fiscal year	Net margin %	YoY	Basis
FYE Feb 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	5.3	−0.6pp	Cons. · Japanese GAAP
FYE Feb 2019	2.9	−2.3pp	Cons. · Japanese GAAP
FYE Feb 2020	2.5	−0.4pp	Cons. · Japanese GAAP
FYE Feb 2021	4.8	+2.3pp	Cons. · Japanese GAAP
FYE Feb 2022	6.1	+1.2pp	Cons. · Japanese GAAP
FYE Feb 2023	6.2	+0.1pp	Cons. · Japanese GAAP
FYE Feb 2024	6.3	+0.1pp	Cons. · Japanese GAAP
FYE Feb 2025	6.3	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2026	6.4	+0.1pp	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 65.2%

Average · 10 yrs 66.3%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Feb 2017	66.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	66.5	−0.3pp	Cons. · Japanese GAAP
FYE Feb 2019	68.2	+1.7pp	Cons. · Japanese GAAP
FYE Feb 2020	67.5	−0.7pp	Cons. · Japanese GAAP
FYE Feb 2021	66.1	−1.4pp	Cons. · Japanese GAAP
FYE Feb 2022	65.9	−0.2pp	Cons. · Japanese GAAP
FYE Feb 2023	65.9	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2024	65.6	−0.3pp	Cons. · Japanese GAAP
FYE Feb 2025	65.3	−0.3pp	Cons. · Japanese GAAP
FYE Feb 2026	65.2	−0.1pp	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 26.3%

Average · 10 yrs 26.3%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Feb 2017	24.7	n/a	Cons. · Japanese GAAP
FYE Feb 2018	26.1	+1.4pp	Cons. · Japanese GAAP
FYE Feb 2019	27.3	+1.2pp	Cons. · Japanese GAAP
FYE Feb 2020	28.3	+0.9pp	Cons. · Japanese GAAP
FYE Feb 2021	27.1	−1.2pp	Cons. · Japanese GAAP
FYE Feb 2022	25.8	−1.3pp	Cons. · Japanese GAAP
FYE Feb 2023	25.7	−0.2pp	Cons. · Japanese GAAP
FYE Feb 2024	25.9	+0.3pp	Cons. · Japanese GAAP
FYE Feb 2025	26.0	+0.1pp	Cons. · Japanese GAAP
FYE Feb 2026	26.3	+0.2pp	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 ¥555bn

CAGR · 10 yrs +4.3%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Feb 2017	380	n/a	Cons. · Japanese GAAP
FYE Feb 2018	398	+4.7%	Cons. · Japanese GAAP
FYE Feb 2019	397	−0.0%	Cons. · Japanese GAAP
FYE Feb 2020	408	+2.7%	Cons. · Japanese GAAP
FYE Feb 2021	452	+10.7%	Cons. · Japanese GAAP
FYE Feb 2022	475	+5.1%	Cons. · Japanese GAAP
FYE Feb 2023	503	+5.8%	Cons. · Japanese GAAP
FYE Feb 2024	534	+6.2%	Cons. · Japanese GAAP
FYE Feb 2025	567	+6.2%	Cons. · Japanese GAAP
FYE Feb 2026	555	−2.2%	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 ¥489bn

CAGR · 10 yrs +4.4%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Feb 2017	331	n/a	Cons. · Japanese GAAP
FYE Feb 2018	353	+6.6%	Cons. · Japanese GAAP
FYE Feb 2019	359	+1.7%	Cons. · Japanese GAAP
FYE Feb 2020	366	+1.9%	Cons. · Japanese GAAP
FYE Feb 2021	384	+5.1%	Cons. · Japanese GAAP
FYE Feb 2022	411	+6.9%	Cons. · Japanese GAAP
FYE Feb 2023	440	+7.1%	Cons. · Japanese GAAP
FYE Feb 2024	471	+7.1%	Cons. · Japanese GAAP
FYE Feb 2025	501	+6.3%	Cons. · Japanese GAAP
FYE Feb 2026	489	−2.5%	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 n/a

Average · 3 yrs ¥73.0m

Fiscal year	Interest-bearing debt ¥ m	YoY	Basis
FYE Feb 2017	109	n/a	Cons. · Japanese GAAP
FYE Feb 2018	110	+0.9%	Cons. · Japanese GAAP
FYE Feb 2019	0.0	−100.0%	Cons. · Japanese GAAP
FYE Feb 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2021	n/a	n/a	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: Borrowings the company pays interest on
Formula: Loans + bonds + lease obligations
Source: Securities report (XBRL)

Intangible assets

FYE Feb 2026 ¥1.9bn

CAGR · 10 yrs +7.0%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Feb 2017	1.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	1.1	+5.5%	Cons. · Japanese GAAP
FYE Feb 2019	1.0	−3.1%	Cons. · Japanese GAAP
FYE Feb 2020	1.0	−2.1%	Cons. · Japanese GAAP
FYE Feb 2021	0.9	−11.7%	Cons. · Japanese GAAP
FYE Feb 2022	0.9	+0.1%	Cons. · Japanese GAAP
FYE Feb 2023	0.9	+2.7%	Cons. · Japanese GAAP
FYE Feb 2024	1.0	+5.9%	Cons. · Japanese GAAP
FYE Feb 2025	1.0	+1.7%	Cons. · Japanese GAAP
FYE Feb 2026	1.9	+87.9%	Cons. · Japanese GAAP

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

Equity ratio

FYE Feb 2026 88.1%

Average · 10 yrs 88.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Feb 2017	87.3	n/a	Cons. · Japanese GAAP
FYE Feb 2018	88.8	+1.5pp	Cons. · Japanese GAAP
FYE Feb 2019	90.4	+1.5pp	Cons. · Japanese GAAP
FYE Feb 2020	89.7	−0.7pp	Cons. · Japanese GAAP
FYE Feb 2021	85.1	−4.6pp	Cons. · Japanese GAAP
FYE Feb 2022	86.6	+1.5pp	Cons. · Japanese GAAP
FYE Feb 2023	87.6	+1.0pp	Cons. · Japanese GAAP
FYE Feb 2024	88.3	+0.7pp	Cons. · Japanese GAAP
FYE Feb 2025	88.3	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2026	88.1	−0.3pp	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 n/a

Average · 3 yrs 0.0%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Feb 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2019	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2021	n/a	n/a	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: Borrowings measured against the company's own capital
Formula: Interest-bearing debt ÷ equity
Source: Securities report (XBRL)

ROE return on equity

FYE Feb 2026 9.1%

Average · 10 yrs 7.6%

Fiscal year	ROE %	YoY	Basis
FYE Feb 2017	9.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	8.4	−1.5pp	Cons. · Japanese GAAP
FYE Feb 2019	4.5	−4.0pp	Cons. · Japanese GAAP
FYE Feb 2020	3.6	−0.9pp	Cons. · Japanese GAAP
FYE Feb 2021	6.8	+3.2pp	Cons. · Japanese GAAP
FYE Feb 2022	8.6	+1.8pp	Cons. · Japanese GAAP
FYE Feb 2023	8.6	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2024	8.5	−0.1pp	Cons. · Japanese GAAP
FYE Feb 2025	8.4	−0.1pp	Cons. · Japanese GAAP
FYE Feb 2026	9.1	+0.7pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Feb 2026 8.0%

Average · 10 yrs 6.7%

Fiscal year	ROA %	YoY	Basis
FYE Feb 2017	8.7	n/a	Cons. · Japanese GAAP
FYE Feb 2018	7.5	−1.2pp	Cons. · Japanese GAAP
FYE Feb 2019	4.0	−3.5pp	Cons. · Japanese GAAP
FYE Feb 2020	3.2	−0.8pp	Cons. · Japanese GAAP
FYE Feb 2021	5.8	+2.6pp	Cons. · Japanese GAAP
FYE Feb 2022	7.5	+1.7pp	Cons. · Japanese GAAP
FYE Feb 2023	7.6	+0.1pp	Cons. · Japanese GAAP
FYE Feb 2024	7.5	−0.1pp	Cons. · Japanese GAAP
FYE Feb 2025	7.4	−0.1pp	Cons. · Japanese GAAP
FYE Feb 2026	8.0	+0.6pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Feb 2026 1.26×

CAGR · 10 yrs −1.8%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Feb 2017	1.49	n/a	Cons. · Japanese GAAP
FYE Feb 2018	1.42	−4.6%	Cons. · Japanese GAAP
FYE Feb 2019	1.37	−3.4%	Cons. · Japanese GAAP
FYE Feb 2020	1.28	−6.9%	Cons. · Japanese GAAP
FYE Feb 2021	1.20	−6.1%	Cons. · Japanese GAAP
FYE Feb 2022	1.23	+2.3%	Cons. · Japanese GAAP
FYE Feb 2023	1.23	−0.3%	Cons. · Japanese GAAP
FYE Feb 2024	1.19	−3.0%	Cons. · Japanese GAAP
FYE Feb 2025	1.17	−1.4%	Cons. · Japanese GAAP
FYE Feb 2026	1.26	+7.6%	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 ¥48bn

CAGR · 10 yrs +0.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Feb 2017	47.2	n/a	Cons. · Japanese GAAP
FYE Feb 2018	29.8	−36.9%	Cons. · Japanese GAAP
FYE Feb 2019	15.4	−48.2%	Cons. · Japanese GAAP
FYE Feb 2020	22.8	+47.8%	Cons. · Japanese GAAP
FYE Feb 2021	46.2	+102.8%	Cons. · Japanese GAAP
FYE Feb 2022	37.2	−19.5%	Cons. · Japanese GAAP
FYE Feb 2023	41.6	+11.7%	Cons. · Japanese GAAP
FYE Feb 2024	41.2	−0.9%	Cons. · Japanese GAAP
FYE Feb 2025	52.8	+28.3%	Cons. · Japanese GAAP
FYE Feb 2026	48.1	−9.0%	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 -¥66bn

Average · 10 yrs -¥18bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Feb 2017	0.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	-68.6	−7808.7%	Cons. · Japanese GAAP
FYE Feb 2019	-15.8	n/a	Cons. · Japanese GAAP
FYE Feb 2020	13.7	n/a	Cons. · Japanese GAAP
FYE Feb 2021	-111	−915.1%	Cons. · Japanese GAAP
FYE Feb 2022	143	n/a	Cons. · Japanese GAAP
FYE Feb 2023	2.3	−98.4%	Cons. · Japanese GAAP
FYE Feb 2024	-87.2	−3850.5%	Cons. · Japanese GAAP
FYE Feb 2025	4.6	n/a	Cons. · Japanese GAAP
FYE Feb 2026	-66.3	−1526.8%	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 -¥61bn

Average · 10 yrs -¥14bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Feb 2017	-9.3	n/a	Cons. · Japanese GAAP
FYE Feb 2018	-9.1	n/a	Cons. · Japanese GAAP
FYE Feb 2019	-9.1	n/a	Cons. · Japanese GAAP
FYE Feb 2020	-6.6	n/a	Cons. · Japanese GAAP
FYE Feb 2021	-7.4	n/a	Cons. · Japanese GAAP
FYE Feb 2022	-8.5	n/a	Cons. · Japanese GAAP
FYE Feb 2023	-9.2	n/a	Cons. · Japanese GAAP
FYE Feb 2024	-9.9	n/a	Cons. · Japanese GAAP
FYE Feb 2025	-12.5	n/a	Cons. · Japanese GAAP
FYE Feb 2026	-60.8	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 ¥127bn

CAGR · 10 yrs +1.6%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Feb 2017	111	n/a	Cons. · Japanese GAAP
FYE Feb 2018	62.8	−43.2%	Cons. · Japanese GAAP
FYE Feb 2019	53.3	−15.3%	Cons. · Japanese GAAP
FYE Feb 2020	83.1	+56.0%	Cons. · Japanese GAAP
FYE Feb 2021	10.5	−87.4%	Cons. · Japanese GAAP
FYE Feb 2022	182	+1639.7%	Cons. · Japanese GAAP
FYE Feb 2023	217	+19.0%	Cons. · Japanese GAAP
FYE Feb 2024	161	−25.8%	Cons. · Japanese GAAP
FYE Feb 2025	206	+27.9%	Cons. · Japanese GAAP
FYE Feb 2026	127	−38.3%	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 -¥18bn

Average · 10 yrs ¥20bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Feb 2017	48.1	n/a	Cons. · Japanese GAAP
FYE Feb 2018	-38.8	−180.7%	Cons. · Japanese GAAP
FYE Feb 2019	-0.4	n/a	Cons. · Japanese GAAP
FYE Feb 2020	36.5	n/a	Cons. · Japanese GAAP
FYE Feb 2021	-65.1	−278.5%	Cons. · Japanese GAAP
FYE Feb 2022	180	n/a	Cons. · Japanese GAAP
FYE Feb 2023	43.9	−75.7%	Cons. · Japanese GAAP
FYE Feb 2024	-46.0	−204.9%	Cons. · Japanese GAAP
FYE Feb 2025	57.4	n/a	Cons. · Japanese GAAP
FYE Feb 2026	-18.3	−131.8%	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 6.9%

Average · 10 yrs 6.4%

Fiscal year	OCF margin %	YoY	Basis
FYE Feb 2017	8.4	n/a	Cons. · Japanese GAAP
FYE Feb 2018	5.3	−3.1pp	Cons. · Japanese GAAP
FYE Feb 2019	2.8	−2.4pp	Cons. · Japanese GAAP
FYE Feb 2020	4.4	+1.5pp	Cons. · Japanese GAAP
FYE Feb 2021	8.5	+4.2pp	Cons. · Japanese GAAP
FYE Feb 2022	6.4	−2.1pp	Cons. · Japanese GAAP
FYE Feb 2023	6.7	+0.4pp	Cons. · Japanese GAAP
FYE Feb 2024	6.5	−0.3pp	Cons. · Japanese GAAP
FYE Feb 2025	7.9	+1.5pp	Cons. · Japanese GAAP
FYE Feb 2026	6.9	−1.1pp	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 n/a

CAGR · 3 yrs −30.6%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Feb 2017	111	n/a	Cons. · Japanese GAAP
FYE Feb 2018	62.7	−43.3%	Cons. · Japanese GAAP
FYE Feb 2019	53.3	−15.1%	Cons. · Japanese GAAP
FYE Feb 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Feb 2021	n/a	n/a	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: 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 ¥783bn

Change · 10 yrs +¥247bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Feb 2017	536	n/a
FYE Feb 2018	484	n/a
FYE Feb 2019	339	n/a
FYE Feb 2020	285	n/a
FYE Feb 2021	428	n/a
FYE Feb 2022	369	n/a
FYE Feb 2023	477	n/a
FYE Feb 2024	602	n/a
FYE Feb 2025	660	n/a
FYE Feb 2026	783	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 10,612¥

Change · 10 yrs −3,908¥

Fiscal year	Share price ¥	Basis
FYE Feb 2017	14,520	n/a
FYE Feb 2018	13,123	n/a
FYE Feb 2019	9,170	n/a
FYE Feb 2020	7,721	n/a
FYE Feb 2021	11,597	n/a
FYE Feb 2022	9,997	n/a
FYE Feb 2023	12,932	n/a
FYE Feb 2024	16,317	n/a
FYE Feb 2025	8,946	n/a
FYE Feb 2026	10,612	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 73,826,000shares

Change · 10 yrs +36,913,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Feb 2017	36,913,000	Parent
FYE Feb 2018	36,913,000	Parent
FYE Feb 2019	36,913,000	Parent
FYE Feb 2020	36,913,000	Parent
FYE Feb 2021	36,913,000	Parent
FYE Feb 2022	36,913,000	Parent
FYE Feb 2023	36,913,000	Parent
FYE Feb 2024	36,913,000	Parent
FYE Feb 2025	73,826,000	Parent
FYE Feb 2026	73,826,000	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 Feb 2026 202.36¥

Change · 10 yrs −691.73¥

Fiscal year	EPS ¥	Basis
FYE Feb 2017	894.09	Cons.
FYE Feb 2018	808.56	Cons.
FYE Feb 2019	435.23	Cons.
FYE Feb 2020	178.57	Cons.
FYE Feb 2021	355.96	Cons.
FYE Feb 2022	160.67	Cons.
FYE Feb 2023	172.42	Cons.
FYE Feb 2024	181.78	Cons.
FYE Feb 2025	189.94	Cons.
FYE Feb 2026	202.36	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 6,617.52¥

Change · 10 yrs −2,359.10¥

Fiscal year	BPS ¥	Basis
FYE Feb 2017	8,976.62	Cons. · Japanese GAAP
FYE Feb 2018	9,565.49	Cons. · Japanese GAAP
FYE Feb 2019	9,727.63	Cons. · Japanese GAAP
FYE Feb 2020	9,912.52	Cons. · Japanese GAAP
FYE Feb 2021	10,413.35	Cons. · Japanese GAAP
FYE Feb 2022	11,134.15	Cons. · Japanese GAAP
FYE Feb 2023	11,921.22	Cons. · Japanese GAAP
FYE Feb 2024	12,770.79	Cons. · Japanese GAAP
FYE Feb 2025	6,785.90	Cons. · Japanese GAAP
FYE Feb 2026	6,617.52	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Feb 2026 17.48×

Average · 10 yrs 16.25×

Fiscal year	PER ×	Basis
FYE Feb 2017	16.24	Cons.
FYE Feb 2018	16.23	Cons.
FYE Feb 2019	21.07	Cons.
FYE Feb 2020	21.62	Cons.
FYE Feb 2021	16.29	Cons.
FYE Feb 2022	10.37	Cons.
FYE Feb 2023	12.50	Cons.
FYE Feb 2024	14.96	Cons.
FYE Feb 2025	15.70	Cons.
FYE Feb 2026	17.48	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 1.50×

Average · 10 yrs 1.19×

Fiscal year	PBR ×	Basis
FYE Feb 2017	1.61	Cons.
FYE Feb 2018	1.37	Cons.
FYE Feb 2019	0.94	Cons.
FYE Feb 2020	0.78	Cons.
FYE Feb 2021	1.11	Cons.
FYE Feb 2022	0.89	Cons.
FYE Feb 2023	1.08	Cons.
FYE Feb 2024	1.27	Cons.
FYE Feb 2025	1.31	Cons.
FYE Feb 2026	1.50	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 3,393people

Change · 10 yrs +778 people

Fiscal year	Group employees people	YoY	Basis
FYE Feb 2017	2,615	n/a	Cons.
FYE Feb 2018	3,171	+21.3%	Cons.
FYE Feb 2019	3,174	+0.1%	Cons.
FYE Feb 2020	3,162	−0.4%	Cons.
FYE Feb 2021	3,110	−1.6%	Cons.
FYE Feb 2022	3,086	−0.8%	Cons.
FYE Feb 2023	3,098	+0.4%	Cons.
FYE Feb 2024	3,157	+1.9%	Cons.
FYE Feb 2025	3,253	+3.0%	Cons.
FYE Feb 2026	3,393	+4.3%	Cons.

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

Parent-company employees

FYE Feb 2026 2,914people

Change · 10 yrs +427 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Feb 2017	2,487	n/a	Parent
FYE Feb 2018	2,623	+5.5%	Parent
FYE Feb 2019	2,671	+1.8%	Parent
FYE Feb 2020	2,680	+0.3%	Parent
FYE Feb 2021	2,678	−0.1%	Parent
FYE Feb 2022	2,694	+0.6%	Parent
FYE Feb 2023	2,714	+0.7%	Parent
FYE Feb 2024	2,737	+0.8%	Parent
FYE Feb 2025	2,802	+2.4%	Parent
FYE Feb 2026	2,914	+4.0%	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 722万円

Change · 7 yrs +124万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Feb 2017	n/a	n/a	Parent
FYE Feb 2018	n/a	n/a	Parent
FYE Feb 2019	n/a	n/a	Parent
FYE Feb 2020	599	n/a	Parent
FYE Feb 2021	656	+9.6%	Parent
FYE Feb 2022	646	−1.5%	Parent
FYE Feb 2023	677	+4.9%	Parent
FYE Feb 2024	689	+1.8%	Parent
FYE Feb 2025	707	+2.6%	Parent
FYE Feb 2026	722	+2.2%	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 +2.3 years

Fiscal year	Average age years	YoY	Basis
FYE Feb 2017	n/a	n/a	Parent
FYE Feb 2018	n/a	n/a	Parent
FYE Feb 2019	n/a	n/a	Parent
FYE Feb 2020	41.1	n/a	Parent
FYE Feb 2021	42.4	+3.2%	Parent
FYE Feb 2022	42.8	+0.9%	Parent
FYE Feb 2023	43.2	+0.9%	Parent
FYE Feb 2024	43.4	+0.5%	Parent
FYE Feb 2025	43.4	−0.0%	Parent
FYE Feb 2026	43.4	−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 Feb 2026 17.0years

Change · 7 yrs +2.0 years

Fiscal year	Average length of service years	YoY	Basis
FYE Feb 2017	n/a	n/a	Parent
FYE Feb 2018	n/a	n/a	Parent
FYE Feb 2019	n/a	n/a	Parent
FYE Feb 2020	15.0	n/a	Parent
FYE Feb 2021	16.0	+6.7%	Parent
FYE Feb 2022	16.0	−0.0%	Parent
FYE Feb 2023	16.0	−0.0%	Parent
FYE Feb 2024	17.0	+6.3%	Parent
FYE Feb 2025	17.0	−0.0%	Parent
FYE Feb 2026	17.0	−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 Feb 2026 13,062people

Change · 10 yrs +356 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Feb 2017	12,706	n/a	n/a
FYE Feb 2018	12,677	−0.2%	n/a
FYE Feb 2019	12,803	+1.0%	n/a
FYE Feb 2020	12,308	−3.9%	n/a
FYE Feb 2021	11,888	−3.4%	n/a
FYE Feb 2022	12,005	+1.0%	n/a
FYE Feb 2023	11,942	−0.5%	n/a
FYE Feb 2024	12,248	+2.6%	n/a
FYE Feb 2025	12,551	+2.5%	n/a
FYE Feb 2026	13,062	+4.1%	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 ¥206m

Change · 10 yrs −¥9.9m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Feb 2017	216	n/a	Cons.
FYE Feb 2018	178	−17.6%	Cons.
FYE Feb 2019	172	−3.5%	Cons.
FYE Feb 2020	165	−4.0%	Cons.
FYE Feb 2021	174	+5.7%	Cons.
FYE Feb 2022	189	+8.4%	Cons.
FYE Feb 2023	199	+5.2%	Cons.
FYE Feb 2024	201	+1.2%	Cons.
FYE Feb 2025	205	+1.7%	Cons.
FYE Feb 2026	206	+0.9%	Cons.

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

Operating profit per employee

FYE Feb 2026 ¥18.1m

Change · 10 yrs −¥0.5m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Feb 2017	18.7	n/a	Cons.
FYE Feb 2018	13.5	−27.5%	Cons.
FYE Feb 2019	8.0	−40.7%	Cons.
FYE Feb 2020	7.3	−9.3%	Cons.
FYE Feb 2021	12.2	+68.2%	Cons.
FYE Feb 2022	16.0	+31.0%	Cons.
FYE Feb 2023	17.2	+7.4%	Cons.
FYE Feb 2024	17.5	+1.8%	Cons.
FYE Feb 2025	18.2	+3.9%	Cons.
FYE Feb 2026	18.1	−0.5%	Cons.

Definition: What each employee accounts for in operating profit
Formula: Operating profit ÷ group employees
Source: Securities report (XBRL)

Disclaimer

Figures are reproduced as filed and are not restated: a change of accounting standard or of consolidation basis moves the series without anything happening to the business. Where that happened, the table says so in place of the year-on-year figure.
Ratios and per-employee figures are computed from the filed lines rather than taken from the filing, and use year-end balances rather than averages.

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