Financials

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

FYE Mar 2026 · Revenue¥277bnYoY +8.8%

FYE Mar 2026 · Operating profit¥50bnYoY +12.8%

FYE Mar 2026 · Net profit¥28bnYoY +7.1%

FYE Mar 2026 · Equity ratio21.4%YoY −2.0pp

FYE Mar 2026 · Group employees3,820YoY −231

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥237bn	n/a	¥31bn	n/a	13.2%	¥19bn	Aoi Hiroshi	—
FYE Mar 2018Consolidated	¥240bn	+1.5%	¥36bn	+16.4%	15.1%	¥21bn	Aoi Hiroshi	—
FYE Mar 2019Consolidated	¥251bn	+4.6%	¥41bn	+13.3%	16.4%	¥25bn	Aoi Hiroshi	February: investment in and collaboration with ventures begins in earnest
FYE Mar 2020Consolidated	¥248bn	−1.5%	¥42bn	+1.8%	16.9%	¥25bn	Aoi Hiroshi	—
FYE Mar 2021Consolidated	¥206bn	−16.7%	¥15bn	−63.7%	7.4%	¥2.3bn	Aoi Hiroshi	January: D2C & Co. established
FYE Mar 2022Consolidated	¥209bn	+1.5%	¥37bn	+141.6%	17.6%	¥18bn	Aoi Hiroshi	Cumulative interest-refund provisions reach <span class="en-history_money" data-yen="124700000000" data-year="2021">$1.1B (¥125bn)</span> over fifteen years
FYE Mar 2023Consolidated	¥218bn	+4.1%	¥39bn	+5.4%	17.8%	¥21bn	Aoi Hiroshi	April: moves to the Prime Market of the Tokyo Stock Exchange
FYE Mar 2024Consolidated	¥235bn	+8.0%	¥41bn	+5.8%	17.4%	¥25bn	Aoi Hiroshi	—
FYE Mar 2025Consolidated	¥254bn	+8.1%	¥45bn	+8.5%	17.5%	¥27bn	Aoi Hiroshi	—
FYE Mar 2026Consolidated	¥277bn	+8.8%	¥50bn	+12.8%	18.1%	¥28bn	Aoi Hiroshi	—

How it compares

DaimaruDelisted 2007

Isetan Co., Ltd.Delisted 2008 Mitsukoshi, Ltd.Delisted 2008

H2O Retailing¥680bnFY2025Operating margin 4.8%

Isetan Mitsukoshi Holdings¥546bnFY2025Operating margin 14.7%Takashimaya¥492bnFY2025Operating margin 10.9%J. Front Retailing¥445bnFY2025Operating margin 11.0%

Hankyu Department StoresDissolved 2007

MatsuzakayaDelisted 2007

Marui Group¥277bnFY2025Operating margin 18.1%

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 ¥277bn

CAGR · 10 yrs +1.7%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	237	n/a	Cons. · Japanese GAAP
FYE Mar 2018	240	+1.5%	Cons. · Japanese GAAP
FYE Mar 2019	251	+4.6%	Cons. · Japanese GAAP
FYE Mar 2020	248	−1.5%	Cons. · Japanese GAAP
FYE Mar 2021	206	−16.7%	Cons. · Japanese GAAP
FYE Mar 2022	209	+1.5%	Cons. · Japanese GAAP
FYE Mar 2023	218	+4.1%	Cons. · Japanese GAAP
FYE Mar 2024	235	+8.0%	Cons. · Japanese GAAP
FYE Mar 2025	254	+8.1%	Cons. · Japanese GAAP
FYE Mar 2026	277	+8.8%	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 ¥35bn

CAGR · 10 yrs −7.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	71.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	64.6	−9.1%	Cons. · Japanese GAAP
FYE Mar 2019	60.9	−5.7%	Cons. · Japanese GAAP
FYE Mar 2020	51.9	−14.8%	Cons. · Japanese GAAP
FYE Mar 2021	28.8	−44.5%	Cons. · Japanese GAAP
FYE Mar 2022	28.2	−2.0%	Cons. · Japanese GAAP
FYE Mar 2023	26.1	−7.6%	Cons. · Japanese GAAP
FYE Mar 2024	29.6	+13.4%	Cons. · Japanese GAAP
FYE Mar 2025	31.6	+6.8%	Cons. · Japanese GAAP
FYE Mar 2026	34.6	+9.3%	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 ¥242bn

CAGR · 10 yrs +4.3%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	166	n/a	Cons. · Japanese GAAP
FYE Mar 2018	176	+6.0%	Cons. · Japanese GAAP
FYE Mar 2019	191	+8.3%	Cons. · Japanese GAAP
FYE Mar 2020	196	+2.7%	Cons. · Japanese GAAP
FYE Mar 2021	177	−9.4%	Cons. · Japanese GAAP
FYE Mar 2022	181	+2.1%	Cons. · Japanese GAAP
FYE Mar 2023	192	+5.9%	Cons. · Japanese GAAP
FYE Mar 2024	206	+7.2%	Cons. · Japanese GAAP
FYE Mar 2025	223	+8.3%	Cons. · Japanese GAAP
FYE Mar 2026	242	+8.8%	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 ¥192bn

CAGR · 10 yrs +4.0%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	135	n/a	Cons. · Japanese GAAP
FYE Mar 2018	140	+3.6%	Cons. · Japanese GAAP
FYE Mar 2019	149	+7.0%	Cons. · Japanese GAAP
FYE Mar 2020	154	+2.9%	Cons. · Japanese GAAP
FYE Mar 2021	162	+5.5%	Cons. · Japanese GAAP
FYE Mar 2022	144	−11.0%	Cons. · Japanese GAAP
FYE Mar 2023	153	+6.0%	Cons. · Japanese GAAP
FYE Mar 2024	165	+7.6%	Cons. · Japanese GAAP
FYE Mar 2025	178	+8.3%	Cons. · Japanese GAAP
FYE Mar 2026	192	+7.8%	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 ¥50bn

CAGR · 10 yrs +5.4%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	31.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.4	+16.4%	Cons. · Japanese GAAP
FYE Mar 2019	41.2	+13.3%	Cons. · Japanese GAAP
FYE Mar 2020	41.9	+1.8%	Cons. · Japanese GAAP
FYE Mar 2021	15.2	−63.7%	Cons. · Japanese GAAP
FYE Mar 2022	36.8	+141.6%	Cons. · Japanese GAAP
FYE Mar 2023	38.8	+5.4%	Cons. · Japanese GAAP
FYE Mar 2024	41.0	+5.8%	Cons. · Japanese GAAP
FYE Mar 2025	44.5	+8.5%	Cons. · Japanese GAAP
FYE Mar 2026	50.2	+12.8%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥1.0bn

CAGR · 10 yrs −7.4%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	2.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	−61.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.5	−31.6%	Cons. · Japanese GAAP
FYE Mar 2020	0.5	−6.1%	Cons. · Japanese GAAP
FYE Mar 2021	1.3	+147.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.9	−26.2%	Cons. · Japanese GAAP
FYE Mar 2023	0.9	−6.2%	Cons. · Japanese GAAP
FYE Mar 2024	1.4	+55.8%	Cons. · Japanese GAAP
FYE Mar 2025	0.9	−30.4%	Cons. · Japanese GAAP
FYE Mar 2026	1.0	+8.1%	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 ¥8.6bn

CAGR · 10 yrs +16.6%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.0	−6.7%	Cons. · Japanese GAAP
FYE Mar 2019	1.9	−3.6%	Cons. · Japanese GAAP
FYE Mar 2020	2.0	+5.1%	Cons. · Japanese GAAP
FYE Mar 2021	2.0	−3.8%	Cons. · Japanese GAAP
FYE Mar 2022	2.2	+10.5%	Cons. · Japanese GAAP
FYE Mar 2023	3.3	+51.4%	Cons. · Japanese GAAP
FYE Mar 2024	3.6	+10.0%	Cons. · Japanese GAAP
FYE Mar 2025	5.5	+53.8%	Cons. · Japanese GAAP
FYE Mar 2026	8.6	+54.8%	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 ¥43bn

CAGR · 10 yrs +3.6%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	31.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.1	+12.9%	Cons. · Japanese GAAP
FYE Mar 2019	39.8	+13.2%	Cons. · Japanese GAAP
FYE Mar 2020	40.4	+1.6%	Cons. · Japanese GAAP
FYE Mar 2021	14.5	−64.1%	Cons. · Japanese GAAP
FYE Mar 2022	35.5	+144.8%	Cons. · Japanese GAAP
FYE Mar 2023	36.4	+2.3%	Cons. · Japanese GAAP
FYE Mar 2024	38.8	+6.6%	Cons. · Japanese GAAP
FYE Mar 2025	39.9	+2.9%	Cons. · Japanese GAAP
FYE Mar 2026	42.7	+6.8%	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 ¥9.4bn

CAGR · 10 yrs −4.3%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	13.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.6	−88.8%	Cons. · Japanese GAAP
FYE Mar 2019	1.8	+13.3%	Cons. · Japanese GAAP
FYE Mar 2020	0.3	−85.4%	Cons. · Japanese GAAP
FYE Mar 2021	3.4	+1235.2%	Cons. · Japanese GAAP
FYE Mar 2022	0.9	−74.5%	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−98.9%	Cons. · Japanese GAAP
FYE Mar 2024	2.6	+25800.0%	Cons. · Japanese GAAP
FYE Mar 2025	8.2	+216.2%	Cons. · Japanese GAAP
FYE Mar 2026	9.4	+14.2%	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 ¥28bn

CAGR · 10 yrs +4.8%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	18.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.9	+11.7%	Cons. · Japanese GAAP
FYE Mar 2019	25.3	+21.2%	Cons. · Japanese GAAP
FYE Mar 2020	25.4	+0.2%	Cons. · Japanese GAAP
FYE Mar 2021	2.3	−91.1%	Cons. · Japanese GAAP
FYE Mar 2022	17.8	+684.8%	Cons. · Japanese GAAP
FYE Mar 2023	21.5	+20.7%	Cons. · Japanese GAAP
FYE Mar 2024	24.7	+14.9%	Cons. · Japanese GAAP
FYE Mar 2025	26.6	+7.8%	Cons. · Japanese GAAP
FYE Mar 2026	28.5	+7.1%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 87.5%

Average · 10 yrs 82.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	70.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	73.1	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2019	75.8	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2020	79.0	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2021	86.0	+7.0pp	Cons. · Japanese GAAP
FYE Mar 2022	86.5	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	88.0	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	87.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	87.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	87.5	−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 Mar 2026 18.1%

Average · 10 yrs 15.7%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	13.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.1	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2019	16.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	16.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	7.4	−9.6pp	Cons. · Japanese GAAP
FYE Mar 2022	17.6	+10.2pp	Cons. · Japanese GAAP
FYE Mar 2023	17.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	17.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	17.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	18.1	+0.6pp	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 15.4%

Average · 10 yrs 14.8%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	13.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.6	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	15.8	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	16.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	7.0	−9.3pp	Cons. · Japanese GAAP
FYE Mar 2022	17.0	+9.9pp	Cons. · Japanese GAAP
FYE Mar 2023	16.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	16.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	15.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	15.4	−0.3pp	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 10.3%

Average · 10 yrs 8.8%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.7	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	10.1	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	10.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	1.1	−9.2pp	Cons. · Japanese GAAP
FYE Mar 2022	8.5	+7.4pp	Cons. · Japanese GAAP
FYE Mar 2023	9.9	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	10.5	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	10.5	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	10.3	−0.2pp	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 12.5%

Average · 10 yrs 17.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	30.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.9	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2019	24.2	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2020	21.0	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2021	14.0	−7.0pp	Cons. · Japanese GAAP
FYE Mar 2022	13.5	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	12.0	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	12.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	12.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	12.5	+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 Mar 2026 69.4%

Average · 10 yrs 66.4%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	56.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	58.0	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	59.4	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	62.1	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2021	78.6	+16.5pp	Cons. · Japanese GAAP
FYE Mar 2022	68.9	−9.7pp	Cons. · Japanese GAAP
FYE Mar 2023	70.2	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2024	70.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	70.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	69.4	−0.7pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by selling and administrative costs
Formula: SG&A ÷ revenue
Source: Securities report (XBRL)

Balance sheet Assets, debt and equity, and what they say about financial strength

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥1.14tn

CAGR · 10 yrs +3.9%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	807	n/a	Cons. · Japanese GAAP
FYE Mar 2018	866	+7.4%	Cons. · Japanese GAAP
FYE Mar 2019	890	+2.8%	Cons. · Japanese GAAP
FYE Mar 2020	886	−0.5%	Cons. · Japanese GAAP
FYE Mar 2021	901	+1.7%	Cons. · Japanese GAAP
FYE Mar 2022	920	+2.1%	Cons. · Japanese GAAP
FYE Mar 2023	962	+4.6%	Cons. · Japanese GAAP
FYE Mar 2024	1,004	+4.3%	Cons. · Japanese GAAP
FYE Mar 2025	1,053	+5.0%	Cons. · Japanese GAAP
FYE Mar 2026	1,141	+8.3%	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 ¥244bn

CAGR · 10 yrs −1.3%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	274	n/a	Cons. · Japanese GAAP
FYE Mar 2018	274	+0.2%	Cons. · Japanese GAAP
FYE Mar 2019	285	+3.8%	Cons. · Japanese GAAP
FYE Mar 2020	290	+1.8%	Cons. · Japanese GAAP
FYE Mar 2021	290	−0.1%	Cons. · Japanese GAAP
FYE Mar 2022	262	−9.7%	Cons. · Japanese GAAP
FYE Mar 2023	246	−5.9%	Cons. · Japanese GAAP
FYE Mar 2024	253	+2.9%	Cons. · Japanese GAAP
FYE Mar 2025	246	−2.8%	Cons. · Japanese GAAP
FYE Mar 2026	244	−0.8%	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 ¥585bn

CAGR · 10 yrs +6.8%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	324	n/a	Cons. · Japanese GAAP
FYE Mar 2018	380	+17.3%	Cons. · Japanese GAAP
FYE Mar 2019	372	−2.3%	Cons. · Japanese GAAP
FYE Mar 2020	375	+0.9%	Cons. · Japanese GAAP
FYE Mar 2021	375	−0.1%	Cons. · Japanese GAAP
FYE Mar 2022	413	+10.2%	Cons. · Japanese GAAP
FYE Mar 2023	457	+10.6%	Cons. · Japanese GAAP
FYE Mar 2024	473	+3.6%	Cons. · Japanese GAAP
FYE Mar 2025	506	+7.1%	Cons. · Japanese GAAP
FYE Mar 2026	585	+15.6%	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 ¥130bn

CAGR · 10 yrs +9.8%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	55.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	75.3	+34.9%	Cons. · Japanese GAAP
FYE Mar 2019	71.6	−4.9%	Cons. · Japanese GAAP
FYE Mar 2020	102	+42.9%	Cons. · Japanese GAAP
FYE Mar 2021	99.4	−2.9%	Cons. · Japanese GAAP
FYE Mar 2022	144	+45.1%	Cons. · Japanese GAAP
FYE Mar 2023	129	−10.6%	Cons. · Japanese GAAP
FYE Mar 2024	87.3	−32.3%	Cons. · Japanese GAAP
FYE Mar 2025	101	+16.2%	Cons. · Japanese GAAP
FYE Mar 2026	130	+28.0%	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 ¥455bn

CAGR · 10 yrs +5.8%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	274	n/a	Cons. · Japanese GAAP
FYE Mar 2018	305	+11.5%	Cons. · Japanese GAAP
FYE Mar 2019	300	−1.6%	Cons. · Japanese GAAP
FYE Mar 2020	273	−9.2%	Cons. · Japanese GAAP
FYE Mar 2021	275	+1.0%	Cons. · Japanese GAAP
FYE Mar 2022	302	+9.6%	Cons. · Japanese GAAP
FYE Mar 2023	353	+16.9%	Cons. · Japanese GAAP
FYE Mar 2024	386	+9.4%	Cons. · Japanese GAAP
FYE Mar 2025	415	+7.6%	Cons. · Japanese GAAP
FYE Mar 2026	455	+9.7%	Cons. · Japanese GAAP

Definition: Borrowings repayable in more than a year
Formula: Long-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Bonds

FYE Mar 2026 n/a

CAGR · 9 yrs +1.7%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	105	n/a	Cons. · Japanese GAAP
FYE Mar 2018	105	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	115	+9.5%	Cons. · Japanese GAAP
FYE Mar 2020	105	−8.7%	Cons. · Japanese GAAP
FYE Mar 2021	110	+4.8%	Cons. · Japanese GAAP
FYE Mar 2022	81.3	−26.1%	Cons. · Japanese GAAP
FYE Mar 2023	102	+24.9%	Cons. · Japanese GAAP
FYE Mar 2024	122	+19.7%	Cons. · Japanese GAAP
FYE Mar 2025	120	−1.1%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: Bonds outstanding
Formula: Bonds line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥12bn

CAGR · 10 yrs +7.7%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.4	+1.5%	Cons. · Japanese GAAP
FYE Mar 2019	6.8	+7.2%	Cons. · Japanese GAAP
FYE Mar 2020	8.1	+18.5%	Cons. · Japanese GAAP
FYE Mar 2021	10.1	+25.1%	Cons. · Japanese GAAP
FYE Mar 2022	8.9	−12.2%	Cons. · Japanese GAAP
FYE Mar 2023	9.7	+8.4%	Cons. · Japanese GAAP
FYE Mar 2024	10.7	+10.2%	Cons. · Japanese GAAP
FYE Mar 2025	13.8	+29.6%	Cons. · Japanese GAAP
FYE Mar 2026	12.2	−11.4%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 21.4%

Average · 10 yrs 28.7%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	34.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	31.7	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2019	32.0	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	32.7	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	32.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	28.4	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2023	25.6	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2024	25.2	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	23.4	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	21.4	−2.0pp	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 239.6%

Average · 10 yrs 162.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	118.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	138.6	+20.2pp	Cons. · Japanese GAAP
FYE Mar 2019	130.5	−8.1pp	Cons. · Japanese GAAP
FYE Mar 2020	129.3	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	129.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	157.8	+28.5pp	Cons. · Japanese GAAP
FYE Mar 2023	185.5	+27.7pp	Cons. · Japanese GAAP
FYE Mar 2024	186.7	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2025	205.7	+19.0pp	Cons. · Japanese GAAP
FYE Mar 2026	239.6	+33.9pp	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 11.7%

Average · 10 yrs 8.1%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	8.9	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	8.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	0.8	−8.0pp	Cons. · Japanese GAAP
FYE Mar 2022	6.8	+6.0pp	Cons. · Japanese GAAP
FYE Mar 2023	8.7	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	9.7	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	10.8	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	11.7	+0.9pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 2.5%

Average · 10 yrs 2.2%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	2.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	2.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	0.3	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	1.9	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2023	2.2	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	2.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	2.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	2.5	−0.0pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.24×

CAGR · 10 yrs −2.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.29	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.28	−5.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.28	+1.7%	Cons. · Japanese GAAP
FYE Mar 2020	0.28	−1.1%	Cons. · Japanese GAAP
FYE Mar 2021	0.23	−18.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.23	−0.5%	Cons. · Japanese GAAP
FYE Mar 2023	0.23	−0.5%	Cons. · Japanese GAAP
FYE Mar 2024	0.23	+3.5%	Cons. · Japanese GAAP
FYE Mar 2025	0.24	+3.0%	Cons. · Japanese GAAP
FYE Mar 2026	0.24	+0.4%	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 -¥46bn

Average · 10 yrs ¥3.9bn

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-46.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-19.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	26.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	39.9	+51.2%	Cons. · Japanese GAAP
FYE Mar 2021	22.2	−44.4%	Cons. · Japanese GAAP
FYE Mar 2022	11.5	−48.1%	Cons. · Japanese GAAP
FYE Mar 2023	16.7	+45.1%	Cons. · Japanese GAAP
FYE Mar 2024	38.0	+127.3%	Cons. · Japanese GAAP
FYE Mar 2025	-4.5	−111.8%	Cons. · Japanese GAAP
FYE Mar 2026	-46.0	n/a	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 -¥1.0bn

Average · 10 yrs -¥11bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	2.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.7	−62.6%	Cons. · Japanese GAAP
FYE Mar 2019	-9.2	−1335.9%	Cons. · Japanese GAAP
FYE Mar 2020	-20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-16.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-13.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-22.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-18.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-13.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-1.0	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 ¥51bn

CAGR · 10 yrs +0.8%

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	47.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.8	−41.7%	Cons. · Japanese GAAP
FYE Mar 2019	-15.9	−157.2%	Cons. · Japanese GAAP
FYE Mar 2020	-25.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	0.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	18.3	+2271.3%	Cons. · Japanese GAAP
FYE Mar 2024	-7.9	−143.2%	Cons. · Japanese GAAP
FYE Mar 2025	2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	51.3	+1707.9%	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 ¥54bn

CAGR · 10 yrs +4.4%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	36.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	45.4	+25.4%	Cons. · Japanese GAAP
FYE Mar 2019	46.7	+2.8%	Cons. · Japanese GAAP
FYE Mar 2020	40.8	−12.6%	Cons. · Japanese GAAP
FYE Mar 2021	41.2	+0.9%	Cons. · Japanese GAAP
FYE Mar 2022	39.7	−3.6%	Cons. · Japanese GAAP
FYE Mar 2023	52.4	+32.0%	Cons. · Japanese GAAP
FYE Mar 2024	64.6	+23.2%	Cons. · Japanese GAAP
FYE Mar 2025	49.3	−23.7%	Cons. · Japanese GAAP
FYE Mar 2026	53.5	+8.7%	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 -¥47bn

Average · 10 yrs -¥7.3bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-44.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-18.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	17.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	19.6	+14.2%	Cons. · Japanese GAAP
FYE Mar 2021	6.0	−69.6%	Cons. · Japanese GAAP
FYE Mar 2022	-2.2	−137.7%	Cons. · Japanese GAAP
FYE Mar 2023	-5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	19.7	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-18.1	−191.9%	Cons. · Japanese GAAP
FYE Mar 2026	-47.0	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 -16.6%

Average · 10 yrs 2.1%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	-19.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-8.0	+11.4pp	Cons. · Japanese GAAP
FYE Mar 2019	10.5	+18.5pp	Cons. · Japanese GAAP
FYE Mar 2020	16.1	+5.6pp	Cons. · Japanese GAAP
FYE Mar 2021	10.8	−5.4pp	Cons. · Japanese GAAP
FYE Mar 2022	5.5	−5.3pp	Cons. · Japanese GAAP
FYE Mar 2023	7.7	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	16.2	+8.5pp	Cons. · Japanese GAAP
FYE Mar 2025	-1.8	−17.9pp	Cons. · Japanese GAAP
FYE Mar 2026	-16.6	−14.8pp	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 -¥532bn

Average · 10 yrs -¥379bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-288	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-335	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-325	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-334	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-333	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-373	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-404	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-408	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-457	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-532	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 ¥561bn

Change · 10 yrs +¥207bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	354	n/a
FYE Mar 2018	507	n/a
FYE Mar 2019	501	n/a
FYE Mar 2020	405	n/a
FYE Mar 2021	465	n/a
FYE Mar 2022	469	n/a
FYE Mar 2023	422	n/a
FYE Mar 2024	510	n/a
FYE Mar 2025	562	n/a
FYE Mar 2026	561	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 3,056¥

Change · 10 yrs +1,540¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,517	n/a
FYE Mar 2018	2,171	n/a
FYE Mar 2019	2,239	n/a
FYE Mar 2020	1,811	n/a
FYE Mar 2021	2,080	n/a
FYE Mar 2022	2,248	n/a
FYE Mar 2023	2,023	n/a
FYE Mar 2024	2,444	n/a
FYE Mar 2025	2,693	n/a
FYE Mar 2026	3,056	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 183,660,417shares

Change · 10 yrs −50,000,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	233,660,417	Parent
FYE Mar 2018	233,660,417	Parent
FYE Mar 2019	223,660,417	Parent
FYE Mar 2020	223,660,417	Parent
FYE Mar 2021	223,660,417	Parent
FYE Mar 2022	208,660,417	Parent
FYE Mar 2023	208,660,417	Parent
FYE Mar 2024	208,660,417	Parent
FYE Mar 2025	208,660,417	Parent
FYE Mar 2026	183,660,417	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 158.35¥

Change · 10 yrs +78.11¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	80.24	Cons.
FYE Mar 2018	93.18	Cons.
FYE Mar 2019	115.99	Cons.
FYE Mar 2020	117.58	Cons.
FYE Mar 2021	10.58	Cons.
FYE Mar 2022	85.81	Cons.
FYE Mar 2023	109.37	Cons.
FYE Mar 2024	130.70	Cons.
FYE Mar 2025	143.24	Cons.
FYE Mar 2026	158.35	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 1,329.55¥

Change · 10 yrs +157.40¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,172.15	Cons. · Japanese GAAP
FYE Mar 2018	1,174.50	Cons. · Japanese GAAP
FYE Mar 2019	1,273.14	Cons. · Japanese GAAP
FYE Mar 2020	1,295.68	Cons. · Japanese GAAP
FYE Mar 2021	1,294.73	Cons. · Japanese GAAP
FYE Mar 2022	1,253.78	Cons. · Japanese GAAP
FYE Mar 2023	1,179.64	Cons. · Japanese GAAP
FYE Mar 2024	1,213.70	Cons. · Japanese GAAP
FYE Mar 2025	1,179.62	Cons. · Japanese GAAP
FYE Mar 2026	1,329.55	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 19.30×

Average · 10 yrs 37.50×

Fiscal year	PER ×	Basis
FYE Mar 2017	18.90	Cons.
FYE Mar 2018	23.30	Cons.
FYE Mar 2019	19.30	Cons.
FYE Mar 2020	15.40	Cons.
FYE Mar 2021	196.60	Cons.
FYE Mar 2022	26.20	Cons.
FYE Mar 2023	18.50	Cons.
FYE Mar 2024	18.70	Cons.
FYE Mar 2025	18.80	Cons.
FYE Mar 2026	19.30	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 2.25×

Average · 10 yrs 1.69×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.27	Cons.
FYE Mar 2018	1.74	Cons.
FYE Mar 2019	1.71	Cons.
FYE Mar 2020	1.34	Cons.
FYE Mar 2021	1.54	Cons.
FYE Mar 2022	1.72	Cons.
FYE Mar 2023	1.56	Cons.
FYE Mar 2024	1.81	Cons.
FYE Mar 2025	1.98	Cons.
FYE Mar 2026	2.25	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 3,820people

Change · 10 yrs −1,912 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	5,732	n/a	Cons.
FYE Mar 2018	5,548	−3.2%	Cons.
FYE Mar 2019	5,326	−4.0%	Cons.
FYE Mar 2020	5,130	−3.7%	Cons.
FYE Mar 2021	4,855	−5.4%	Cons.
FYE Mar 2022	4,654	−4.1%	Cons.
FYE Mar 2023	4,435	−4.7%	Cons.
FYE Mar 2024	4,290	−3.3%	Cons.
FYE Mar 2025	4,051	−5.6%	Cons.
FYE Mar 2026	3,820	−5.7%	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 275people

Change · 10 yrs +31 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	244	n/a	Parent
FYE Mar 2018	277	+13.5%	Parent
FYE Mar 2019	322	+16.2%	Parent
FYE Mar 2020	367	+14.0%	Parent
FYE Mar 2021	373	+1.6%	Parent
FYE Mar 2022	241	−35.4%	Parent
FYE Mar 2023	254	+5.4%	Parent
FYE Mar 2024	270	+6.3%	Parent
FYE Mar 2025	270	−0.0%	Parent
FYE Mar 2026	275	+1.9%	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 ¥6.9m

Change · 10 yrs +¥0.2m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	6.7	n/a	Parent
FYE Mar 2018	6.5	−2.3%	Parent
FYE Mar 2019	6.4	−2.0%	Parent
FYE Mar 2020	6.5	+1.7%	Parent
FYE Mar 2021	6.3	−3.3%	Parent
FYE Mar 2022	6.4	+1.9%	Parent
FYE Mar 2023	6.4	−0.5%	Parent
FYE Mar 2024	6.3	−0.7%	Parent
FYE Mar 2025	6.8	+7.6%	Parent
FYE Mar 2026	6.9	+1.0%	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 39.6years

Change · 8 yrs −0.3 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	39.9	n/a	Parent
FYE Mar 2020	39.0	−2.3%	Parent
FYE Mar 2021	39.2	+0.5%	Parent
FYE Mar 2022	39.6	+1.0%	Parent
FYE Mar 2023	39.6	−0.0%	Parent
FYE Mar 2024	39.4	−0.5%	Parent
FYE Mar 2025	39.8	+1.0%	Parent
FYE Mar 2026	39.6	−0.5%	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 15.5years

Change · 10 yrs −2.1 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	17.6	n/a	Parent
FYE Mar 2018	17.2	−2.3%	Parent
FYE Mar 2019	16.3	−5.2%	Parent
FYE Mar 2020	15.5	−4.9%	Parent
FYE Mar 2021	15.7	+1.3%	Parent
FYE Mar 2022	15.7	−0.0%	Parent
FYE Mar 2023	15.7	−0.0%	Parent
FYE Mar 2024	15.5	−1.3%	Parent
FYE Mar 2025	16.0	+3.2%	Parent
FYE Mar 2026	15.5	−3.1%	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 1,539people

Change · 10 yrs −216 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	1,755	n/a	n/a
FYE Mar 2018	1,642	−6.4%	n/a
FYE Mar 2019	1,520	−7.4%	n/a
FYE Mar 2020	1,453	−4.4%	n/a
FYE Mar 2021	1,487	+2.3%	n/a
FYE Mar 2022	1,530	+2.9%	n/a
FYE Mar 2023	1,447	−5.4%	n/a
FYE Mar 2024	1,404	−3.0%	n/a
FYE Mar 2025	1,453	+3.5%	n/a
FYE Mar 2026	1,539	+5.9%	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 ¥72.5m

Change · 10 yrs +¥31.1m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	41.4	n/a	Cons.
FYE Mar 2018	43.3	+4.8%	Cons.
FYE Mar 2019	47.2	+8.9%	Cons.
FYE Mar 2020	48.3	+2.2%	Cons.
FYE Mar 2021	42.5	−12.0%	Cons.
FYE Mar 2022	45.0	+5.9%	Cons.
FYE Mar 2023	49.1	+9.2%	Cons.
FYE Mar 2024	54.8	+11.6%	Cons.
FYE Mar 2025	62.8	+14.5%	Cons.
FYE Mar 2026	72.5	+15.4%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥13.1m

Change · 10 yrs +¥7.7m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	5.5	n/a	Cons.
FYE Mar 2018	6.6	+20.2%	Cons.
FYE Mar 2019	7.7	+18.0%	Cons.
FYE Mar 2020	8.2	+5.7%	Cons.
FYE Mar 2021	3.1	−61.7%	Cons.
FYE Mar 2022	7.9	+152.1%	Cons.
FYE Mar 2023	8.7	+10.6%	Cons.
FYE Mar 2024	9.6	+9.4%	Cons.
FYE Mar 2025	11.0	+14.9%	Cons.
FYE Mar 2026	13.1	+19.6%	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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