Financials

OKASAN SECURITIES GROUP INC.: FYE Mar 2026 and ten years of results (48 metrics)

FYE Mar 2026 · Revenue¥96bnYoY +16.7%

FYE Mar 2026 · Operating profit¥19bnYoY +45.9%

FYE Mar 2026 · Net profit¥21bnYoY +83.3%

FYE Mar 2026 · Equity ratio16.5%YoY +1.4pp

FYE Mar 2026 · Group employees3,472YoY +129

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥81bn	n/a	¥14bn	n/a	17.6%	¥10bn	Shinshiba Hiroyuki	—
FYE Mar 2018Consolidated	¥82bn	+1.6%	¥12bn	−17.2%	14.3%	¥5.9bn	Shinshiba Hiroyuki	—
FYE Mar 2019Consolidated	¥68bn	−17.1%	¥1.8bn	−84.3%	2.7%	¥0.9bn	Shinshiba Hiroyuki	—
FYE Mar 2020Consolidated	¥65bn	−4.2%	¥2.1bn	+12.6%	3.2%	¥3.6bn	Shinshiba Hiroyuki	—
FYE Mar 2021Consolidated	¥67bn	+3.4%	¥5.1bn	+146.4%	7.6%	¥6.0bn	Shinshiba Hiroyuki	—
FYE Mar 2022Consolidated	¥74bn	+9.9%	¥5.1bn	+0.8%	7.0%	¥10bn	Shinshiba Hiroyuki	—
FYE Mar 2023Consolidated	¥67bn	−10.0%	-¥1.0bn	−120.1%	-1.6%	¥0.5bn	Shinshiba Hiroyuki	Online broker absorbed into Okasan Securities
FYE Mar 2024Consolidated	¥85bn	+27.0%	¥16bn	n/a	19.1%	¥13bn	Shinshiba Hiroyuki	—
FYE Mar 2025Consolidated	¥82bn	−3.0%	¥13bn	−20.3%	15.7%	¥12bn	Shinshiba Hiroyuki	Okasan BANK launched; head office moves to Nihonbashi Muromachi
FYE Mar 2026Consolidated	¥96bn	+16.7%	¥19bn	+45.9%	19.6%	¥21bn	Shinshiba Hiroyuki	—

How it compares

Nomura Holdings¥4.76tnFY2025Operating margin 11.3%SBI Holdings¥1.90tnFY2025Operating margin 27.2%Daiwa Securities Group¥1.47tnFY2025Operating margin 14.1%

Nikko Cordial CorporationDelisted 2008

Yamaichi SecuritiesDelisted 1997

OKASAN SECURITIES GROUP INC.¥96bnFY2025Operating margin 19.6%

Monex Group, Inc.¥93bnFY2025Operating margin 17.0%

Toukaitoukyoufinansharuhorudingusu¥86bnFY2024Operating margin 13.6%

Sanyo SecuritiesDelisted 1997

Matsui Securities Co., Ltd.¥53bnFY2025Operating margin 44.6%

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 ¥96bn

CAGR · 10 yrs +1.9%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	80.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	81.9	+1.6%	Cons. · Japanese GAAP
FYE Mar 2019	67.9	−17.1%	Cons. · Japanese GAAP
FYE Mar 2020	65.0	−4.2%	Cons. · Japanese GAAP
FYE Mar 2021	67.3	+3.4%	Cons. · Japanese GAAP
FYE Mar 2022	73.9	+9.9%	Cons. · Japanese GAAP
FYE Mar 2023	66.6	−10.0%	Cons. · Japanese GAAP
FYE Mar 2024	84.5	+27.0%	Cons. · Japanese GAAP
FYE Mar 2025	81.9	−3.0%	Cons. · Japanese GAAP
FYE Mar 2026	95.6	+16.7%	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 ¥3.8bn

CAGR · 10 yrs +13.8%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.2	−1.4%	Cons. · Japanese GAAP
FYE Mar 2019	1.1	−7.8%	Cons. · Japanese GAAP
FYE Mar 2020	1.0	−7.9%	Cons. · Japanese GAAP
FYE Mar 2021	1.2	+16.6%	Cons. · Japanese GAAP
FYE Mar 2022	1.2	+2.6%	Cons. · Japanese GAAP
FYE Mar 2023	1.6	+39.7%	Cons. · Japanese GAAP
FYE Mar 2024	2.0	+18.6%	Cons. · Japanese GAAP
FYE Mar 2025	2.1	+6.8%	Cons. · Japanese GAAP
FYE Mar 2026	3.8	+80.2%	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 ¥92bn

CAGR · 10 yrs +1.6%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	79.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	80.8	+1.6%	Cons. · Japanese GAAP
FYE Mar 2019	66.8	−17.3%	Cons. · Japanese GAAP
FYE Mar 2020	64.1	−4.1%	Cons. · Japanese GAAP
FYE Mar 2021	66.1	+3.2%	Cons. · Japanese GAAP
FYE Mar 2022	72.8	+10.1%	Cons. · Japanese GAAP
FYE Mar 2023	64.9	−10.8%	Cons. · Japanese GAAP
FYE Mar 2024	82.6	+27.2%	Cons. · Japanese GAAP
FYE Mar 2025	79.8	−3.3%	Cons. · Japanese GAAP
FYE Mar 2026	91.8	+15.0%	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 ¥73bn

CAGR · 10 yrs +1.3%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	65.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.0	+5.7%	Cons. · Japanese GAAP
FYE Mar 2019	65.0	−5.9%	Cons. · Japanese GAAP
FYE Mar 2020	62.0	−4.6%	Cons. · Japanese GAAP
FYE Mar 2021	61.0	−1.6%	Cons. · Japanese GAAP
FYE Mar 2022	67.6	+10.9%	Cons. · Japanese GAAP
FYE Mar 2023	65.9	−2.5%	Cons. · Japanese GAAP
FYE Mar 2024	66.4	+0.8%	Cons. · Japanese GAAP
FYE Mar 2025	67.0	+0.9%	Cons. · Japanese GAAP
FYE Mar 2026	73.1	+9.1%	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 ¥19bn

CAGR · 10 yrs +3.2%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	14.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.7	−17.2%	Cons. · Japanese GAAP
FYE Mar 2019	1.8	−84.3%	Cons. · Japanese GAAP
FYE Mar 2020	2.1	+12.6%	Cons. · Japanese GAAP
FYE Mar 2021	5.1	+146.4%	Cons. · Japanese GAAP
FYE Mar 2022	5.1	+0.8%	Cons. · Japanese GAAP
FYE Mar 2023	-1.0	−120.1%	Cons. · Japanese GAAP
FYE Mar 2024	16.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	12.8	−20.3%	Cons. · Japanese GAAP
FYE Mar 2026	18.7	+45.9%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥4.6bn

CAGR · 10 yrs +13.9%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.4	−1.7%	Cons. · Japanese GAAP
FYE Mar 2019	1.2	−12.4%	Cons. · Japanese GAAP
FYE Mar 2020	3.6	+188.8%	Cons. · Japanese GAAP
FYE Mar 2021	2.5	−29.9%	Cons. · Japanese GAAP
FYE Mar 2022	1.9	−22.1%	Cons. · Japanese GAAP
FYE Mar 2023	1.7	−13.3%	Cons. · Japanese GAAP
FYE Mar 2024	2.5	+46.2%	Cons. · Japanese GAAP
FYE Mar 2025	3.1	+25.5%	Cons. · Japanese GAAP
FYE Mar 2026	4.6	+49.5%	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 ¥486m

CAGR · 10 yrs +12.8%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Mar 2017	164	n/a	Cons. · Japanese GAAP
FYE Mar 2018	358	+118.3%	Cons. · Japanese GAAP
FYE Mar 2019	173	−51.7%	Cons. · Japanese GAAP
FYE Mar 2020	148	−14.5%	Cons. · Japanese GAAP
FYE Mar 2021	178	+20.3%	Cons. · Japanese GAAP
FYE Mar 2022	195	+9.6%	Cons. · Japanese GAAP
FYE Mar 2023	231	+18.5%	Cons. · Japanese GAAP
FYE Mar 2024	515	+122.9%	Cons. · Japanese GAAP
FYE Mar 2025	355	−31.1%	Cons. · Japanese GAAP
FYE Mar 2026	486	+36.9%	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 ¥23bn

CAGR · 10 yrs +4.5%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	15.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.8	−17.2%	Cons. · Japanese GAAP
FYE Mar 2019	2.9	−77.3%	Cons. · Japanese GAAP
FYE Mar 2020	5.5	+89.2%	Cons. · Japanese GAAP
FYE Mar 2021	7.4	+35.3%	Cons. · Japanese GAAP
FYE Mar 2022	6.9	−7.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.4	−93.9%	Cons. · Japanese GAAP
FYE Mar 2024	18.1	+4190.0%	Cons. · Japanese GAAP
FYE Mar 2025	15.6	−13.8%	Cons. · Japanese GAAP
FYE Mar 2026	22.9	+46.8%	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 ¥6.5bn

CAGR · 10 yrs +11.6%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	2.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	+110.4%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−97.2%	Cons. · Japanese GAAP
FYE Mar 2020	1.7	+1070.4%	Cons. · Japanese GAAP
FYE Mar 2021	7.2	+334.4%	Cons. · Japanese GAAP
FYE Mar 2022	9.7	+34.1%	Cons. · Japanese GAAP
FYE Mar 2023	3.1	−68.1%	Cons. · Japanese GAAP
FYE Mar 2024	2.3	−26.4%	Cons. · Japanese GAAP
FYE Mar 2025	2.3	+2.0%	Cons. · Japanese GAAP
FYE Mar 2026	6.5	+178.0%	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 ¥21bn

CAGR · 10 yrs +8.2%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.9	−44.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.9	−85.4%	Cons. · Japanese GAAP
FYE Mar 2020	3.6	+325.1%	Cons. · Japanese GAAP
FYE Mar 2021	6.0	+65.9%	Cons. · Japanese GAAP
FYE Mar 2022	10.1	+67.4%	Cons. · Japanese GAAP
FYE Mar 2023	0.5	−94.7%	Cons. · Japanese GAAP
FYE Mar 2024	13.2	+2389.0%	Cons. · Japanese GAAP
FYE Mar 2025	11.7	−11.5%	Cons. · Japanese GAAP
FYE Mar 2026	21.4	+83.3%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 96.1%

Average · 10 yrs 97.9%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	98.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	98.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	98.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	98.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	98.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	98.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	97.5	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	97.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	97.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	96.1	−1.4pp	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 19.6%

Average · 10 yrs 10.5%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	17.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.3	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2019	2.7	−11.6pp	Cons. · Japanese GAAP
FYE Mar 2020	3.2	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	7.6	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2022	7.0	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	-1.6	−8.5pp	Cons. · Japanese GAAP
FYE Mar 2024	19.1	+20.6pp	Cons. · Japanese GAAP
FYE Mar 2025	15.7	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2026	19.6	+3.9pp	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 23.9%

Average · 10 yrs 13.3%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	19.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.6	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2019	4.3	−11.3pp	Cons. · Japanese GAAP
FYE Mar 2020	8.4	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2021	11.0	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	9.3	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2023	0.6	−8.7pp	Cons. · Japanese GAAP
FYE Mar 2024	21.4	+20.7pp	Cons. · Japanese GAAP
FYE Mar 2025	19.0	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2026	23.9	+4.9pp	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 22.3%

Average · 10 yrs 10.2%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	13.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.1	−5.9pp	Cons. · Japanese GAAP
FYE Mar 2019	1.3	−5.9pp	Cons. · Japanese GAAP
FYE Mar 2020	5.6	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2021	8.9	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2022	13.6	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2023	0.8	−12.8pp	Cons. · Japanese GAAP
FYE Mar 2024	15.6	+14.8pp	Cons. · Japanese GAAP
FYE Mar 2025	14.2	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	22.3	+8.1pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 3.9%

Average · 10 yrs 2.1%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	1.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	1.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	1.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	1.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	1.6	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	2.5	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	2.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	2.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	3.9	+1.4pp	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 76.5%

Average · 10 yrs 87.4%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	81.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	84.3	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2019	95.7	+11.4pp	Cons. · Japanese GAAP
FYE Mar 2020	95.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	90.7	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2022	91.4	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	99.1	+7.6pp	Cons. · Japanese GAAP
FYE Mar 2024	78.6	−20.5pp	Cons. · Japanese GAAP
FYE Mar 2025	81.8	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2026	76.5	−5.3pp	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 ¥1.40tn

CAGR · 10 yrs +10.9%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	553	n/a	Cons. · Japanese GAAP
FYE Mar 2018	475	−14.1%	Cons. · Japanese GAAP
FYE Mar 2019	426	−10.4%	Cons. · Japanese GAAP
FYE Mar 2020	440	+3.5%	Cons. · Japanese GAAP
FYE Mar 2021	783	+77.9%	Cons. · Japanese GAAP
FYE Mar 2022	817	+4.2%	Cons. · Japanese GAAP
FYE Mar 2023	876	+7.3%	Cons. · Japanese GAAP
FYE Mar 2024	1,208	+37.9%	Cons. · Japanese GAAP
FYE Mar 2025	1,380	+14.2%	Cons. · Japanese GAAP
FYE Mar 2026	1,401	+1.5%	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 ¥231bn

CAGR · 10 yrs +4.4%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	157	n/a	Cons. · Japanese GAAP
FYE Mar 2018	157	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	151	−3.6%	Cons. · Japanese GAAP
FYE Mar 2020	156	+3.2%	Cons. · Japanese GAAP
FYE Mar 2021	168	+7.8%	Cons. · Japanese GAAP
FYE Mar 2022	168	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	173	+3.0%	Cons. · Japanese GAAP
FYE Mar 2024	199	+14.8%	Cons. · Japanese GAAP
FYE Mar 2025	208	+4.6%	Cons. · Japanese GAAP
FYE Mar 2026	231	+10.9%	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 ¥136bn

CAGR · 10 yrs +6.3%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	78.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	99.7	+26.3%	Cons. · Japanese GAAP
FYE Mar 2019	80.0	−19.8%	Cons. · Japanese GAAP
FYE Mar 2020	86.2	+7.8%	Cons. · Japanese GAAP
FYE Mar 2021	133	+54.8%	Cons. · Japanese GAAP
FYE Mar 2022	150	+12.6%	Cons. · Japanese GAAP
FYE Mar 2023	163	+8.4%	Cons. · Japanese GAAP
FYE Mar 2024	164	+0.6%	Cons. · Japanese GAAP
FYE Mar 2025	163	−0.7%	Cons. · Japanese GAAP
FYE Mar 2026	136	−16.3%	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 ¥124bn

CAGR · 10 yrs +6.8%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	69.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	89.6	+29.8%	Cons. · Japanese GAAP
FYE Mar 2019	73.3	−18.2%	Cons. · Japanese GAAP
FYE Mar 2020	77.2	+5.2%	Cons. · Japanese GAAP
FYE Mar 2021	124	+60.1%	Cons. · Japanese GAAP
FYE Mar 2022	139	+12.1%	Cons. · Japanese GAAP
FYE Mar 2023	153	+10.4%	Cons. · Japanese GAAP
FYE Mar 2024	157	+2.8%	Cons. · Japanese GAAP
FYE Mar 2025	159	+1.1%	Cons. · Japanese GAAP
FYE Mar 2026	124	−21.7%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Mar 2026 ¥12bn

CAGR · 10 yrs +2.1%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	9.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.0	+1.9%	Cons. · Japanese GAAP
FYE Mar 2019	6.6	−34.2%	Cons. · Japanese GAAP
FYE Mar 2020	9.0	+36.7%	Cons. · Japanese GAAP
FYE Mar 2021	9.9	+9.6%	Cons. · Japanese GAAP
FYE Mar 2022	11.8	+19.2%	Cons. · Japanese GAAP
FYE Mar 2023	10.0	−15.3%	Cons. · Japanese GAAP
FYE Mar 2024	6.7	−32.7%	Cons. · Japanese GAAP
FYE Mar 2025	3.9	−41.8%	Cons. · Japanese GAAP
FYE Mar 2026	11.9	+203.9%	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 ¥5.3bn

CAGR · 10 yrs −9.4%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	12.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.9	−54.2%	Cons. · Japanese GAAP
FYE Mar 2019	6.4	+8.3%	Cons. · Japanese GAAP
FYE Mar 2020	6.0	−5.8%	Cons. · Japanese GAAP
FYE Mar 2021	4.6	−23.3%	Cons. · Japanese GAAP
FYE Mar 2022	4.1	−11.4%	Cons. · Japanese GAAP
FYE Mar 2023	9.2	+125.1%	Cons. · Japanese GAAP
FYE Mar 2024	6.9	−25.6%	Cons. · Japanese GAAP
FYE Mar 2025	6.5	−4.6%	Cons. · Japanese GAAP
FYE Mar 2026	5.3	−19.2%	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 16.5%

Average · 10 yrs 24.2%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	28.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.0	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2019	35.5	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2020	35.5	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	21.5	−14.0pp	Cons. · Japanese GAAP
FYE Mar 2022	20.6	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	19.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	16.5	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2025	15.1	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	16.5	+1.4pp	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 59.0%

Average · 10 yrs 70.4%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	50.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	63.5	+13.2pp	Cons. · Japanese GAAP
FYE Mar 2019	52.9	−10.7pp	Cons. · Japanese GAAP
FYE Mar 2020	55.2	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2021	79.3	+24.1pp	Cons. · Japanese GAAP
FYE Mar 2022	89.3	+10.0pp	Cons. · Japanese GAAP
FYE Mar 2023	93.9	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2024	82.3	−11.6pp	Cons. · Japanese GAAP
FYE Mar 2025	78.2	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2026	59.0	−19.2pp	Cons. · Japanese GAAP

Definition: Borrowings measured against the company's own capital
Formula: Interest-bearing debt ÷ equity
Source: Securities report (XBRL)

ROE return on equity

FYE Mar 2026 9.2%

Average · 10 yrs 4.5%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.7	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2019	0.6	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2020	2.3	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2021	3.6	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	6.0	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	0.3	−5.7pp	Cons. · Japanese GAAP
FYE Mar 2024	6.6	+6.3pp	Cons. · Japanese GAAP
FYE Mar 2025	5.6	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	9.2	+3.7pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 1.5%

Average · 10 yrs 1.0%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.2	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	0.2	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	0.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	0.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	1.2	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	0.1	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2024	1.1	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	0.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	1.5	+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 0.07×

CAGR · 10 yrs −8.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.15	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.17	+18.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.16	−7.5%	Cons. · Japanese GAAP
FYE Mar 2020	0.15	−7.4%	Cons. · Japanese GAAP
FYE Mar 2021	0.09	−41.9%	Cons. · Japanese GAAP
FYE Mar 2022	0.09	+5.5%	Cons. · Japanese GAAP
FYE Mar 2023	0.08	−16.1%	Cons. · Japanese GAAP
FYE Mar 2024	0.07	−7.9%	Cons. · Japanese GAAP
FYE Mar 2025	0.06	−15.1%	Cons. · Japanese GAAP
FYE Mar 2026	0.07	+14.9%	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 ¥63bn

CAGR · 10 yrs +2.1%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	52.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-12.9	−124.7%	Cons. · Japanese GAAP
FYE Mar 2019	39.9	n/a	Cons. · Japanese GAAP
FYE Mar 2020	8.5	−78.8%	Cons. · Japanese GAAP
FYE Mar 2021	-40.9	−584.3%	Cons. · Japanese GAAP
FYE Mar 2022	-4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-4.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-20.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	62.8	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 ¥4.8bn

Average · 10 yrs ¥0.7bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-4.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-5.1	−878.9%	Cons. · Japanese GAAP
FYE Mar 2020	-2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2022	7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	1.7	−76.3%	Cons. · Japanese GAAP
FYE Mar 2024	2.4	+43.6%	Cons. · Japanese GAAP
FYE Mar 2025	6.2	+158.3%	Cons. · Japanese GAAP
FYE Mar 2026	4.8	−23.0%	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 -¥35bn

Average · 10 yrs -¥5.1bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-50.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-24.9	−261.4%	Cons. · Japanese GAAP
FYE Mar 2020	-6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	42.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	13.3	−68.9%	Cons. · Japanese GAAP
FYE Mar 2023	16.6	+25.0%	Cons. · Japanese GAAP
FYE Mar 2024	-4.4	−126.6%	Cons. · Japanese GAAP
FYE Mar 2025	-18.5	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-35.0	n/a	Cons. · Japanese GAAP

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

Cash and equivalents

FYE Mar 2026 ¥78bn

CAGR · 10 yrs +4.8%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	51.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	54.1	+5.8%	Cons. · Japanese GAAP
FYE Mar 2019	64.2	+18.6%	Cons. · Japanese GAAP
FYE Mar 2020	63.8	−0.6%	Cons. · Japanese GAAP
FYE Mar 2021	62.5	−2.0%	Cons. · Japanese GAAP
FYE Mar 2022	79.8	+27.6%	Cons. · Japanese GAAP
FYE Mar 2023	84.0	+5.3%	Cons. · Japanese GAAP
FYE Mar 2024	77.8	−7.5%	Cons. · Japanese GAAP
FYE Mar 2025	44.7	−42.5%	Cons. · Japanese GAAP
FYE Mar 2026	78.3	+74.9%	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 ¥68bn

CAGR · 10 yrs +3.8%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	48.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-12.2	−125.4%	Cons. · Japanese GAAP
FYE Mar 2019	34.7	n/a	Cons. · Japanese GAAP
FYE Mar 2020	5.6	−84.0%	Cons. · Japanese GAAP
FYE Mar 2021	-44.7	−902.3%	Cons. · Japanese GAAP
FYE Mar 2022	2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	0.3	−89.2%	Cons. · Japanese GAAP
FYE Mar 2024	-2.4	−868.8%	Cons. · Japanese GAAP
FYE Mar 2025	-14.5	n/a	Cons. · Japanese GAAP
FYE Mar 2026	67.6	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 65.7%

Average · 10 yrs 8.7%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	64.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-15.7	−80.5pp	Cons. · Japanese GAAP
FYE Mar 2019	58.7	+74.5pp	Cons. · Japanese GAAP
FYE Mar 2020	13.0	−45.7pp	Cons. · Japanese GAAP
FYE Mar 2021	-60.9	−73.9pp	Cons. · Japanese GAAP
FYE Mar 2022	-5.7	+55.2pp	Cons. · Japanese GAAP
FYE Mar 2023	-2.0	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2024	-5.6	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2025	-25.2	−19.6pp	Cons. · Japanese GAAP
FYE Mar 2026	65.7	+91.0pp	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 -¥58bn

Average · 10 yrs -¥59bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-27.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-45.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-15.8	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-22.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-70.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-70.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-78.9	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-86.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-118	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-58.0	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 ¥190bn

Change · 10 yrs +¥48bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	141	n/a
FYE Mar 2018	132	n/a
FYE Mar 2019	85.5	n/a
FYE Mar 2020	71.2	n/a
FYE Mar 2021	93.9	n/a
FYE Mar 2022	77.0	n/a
FYE Mar 2023	109	n/a
FYE Mar 2024	189	n/a
FYE Mar 2025	153	n/a
FYE Mar 2026	190	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 821¥

Change · 10 yrs +142¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	679	n/a
FYE Mar 2018	636	n/a
FYE Mar 2019	411	n/a
FYE Mar 2020	342	n/a
FYE Mar 2021	451	n/a
FYE Mar 2022	370	n/a
FYE Mar 2023	470	n/a
FYE Mar 2024	817	n/a
FYE Mar 2025	663	n/a
FYE Mar 2026	821	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 231,217,000shares

Change · 10 yrs +23,003,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	208,214,000	Parent
FYE Mar 2018	208,214,000	Parent
FYE Mar 2019	208,214,000	Parent
FYE Mar 2020	208,214,000	Parent
FYE Mar 2021	208,214,000	Parent
FYE Mar 2022	208,214,000	Parent
FYE Mar 2023	231,217,000	Parent
FYE Mar 2024	231,217,000	Parent
FYE Mar 2025	231,217,000	Parent
FYE Mar 2026	231,217,000	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 106.72¥

Change · 10 yrs +53.79¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	52.93	Cons.
FYE Mar 2018	29.56	Cons.
FYE Mar 2019	4.30	Cons.
FYE Mar 2020	18.32	Cons.
FYE Mar 2021	30.42	Cons.
FYE Mar 2022	50.89	Cons.
FYE Mar 2023	2.59	Cons.
FYE Mar 2024	64.29	Cons.
FYE Mar 2025	57.62	Cons.
FYE Mar 2026	106.72	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 998.93¥

Change · 10 yrs +245.28¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	753.65	Cons. · Japanese GAAP
FYE Mar 2018	753.78	Cons. · Japanese GAAP
FYE Mar 2019	726.57	Cons. · Japanese GAAP
FYE Mar 2020	750.06	Cons. · Japanese GAAP
FYE Mar 2021	808.57	Cons. · Japanese GAAP
FYE Mar 2022	808.46	Cons. · Japanese GAAP
FYE Mar 2023	750.11	Cons. · Japanese GAAP
FYE Mar 2024	861.38	Cons. · Japanese GAAP
FYE Mar 2025	900.59	Cons. · Japanese GAAP
FYE Mar 2026	998.93	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 7.69×

Average · 10 yrs 38.41×

Fiscal year	PER ×	Basis
FYE Mar 2017	12.83	Cons.
FYE Mar 2018	21.52	Cons.
FYE Mar 2019	95.51	Cons.
FYE Mar 2020	18.67	Cons.
FYE Mar 2021	14.83	Cons.
FYE Mar 2022	7.27	Cons.
FYE Mar 2023	181.59	Cons.
FYE Mar 2024	12.71	Cons.
FYE Mar 2025	11.51	Cons.
FYE Mar 2026	7.69	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 0.71×

Average · 10 yrs 0.63×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.86	Cons.
FYE Mar 2018	0.80	Cons.
FYE Mar 2019	0.54	Cons.
FYE Mar 2020	0.43	Cons.
FYE Mar 2021	0.53	Cons.
FYE Mar 2022	0.44	Cons.
FYE Mar 2023	0.56	Cons.
FYE Mar 2024	0.83	Cons.
FYE Mar 2025	0.64	Cons.
FYE Mar 2026	0.71	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 3,472people

Change · 10 yrs +18 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	3,454	n/a	Cons.
FYE Mar 2018	3,553	+2.9%	Cons.
FYE Mar 2019	3,595	+1.2%	Cons.
FYE Mar 2020	3,451	−4.0%	Cons.
FYE Mar 2021	3,607	+4.5%	Cons.
FYE Mar 2022	3,609	+0.1%	Cons.
FYE Mar 2023	3,358	−7.0%	Cons.
FYE Mar 2024	3,281	−2.3%	Cons.
FYE Mar 2025	3,343	+1.9%	Cons.
FYE Mar 2026	3,472	+3.9%	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 67people

Change · 10 yrs +58 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	9	n/a	Parent
FYE Mar 2018	13	+44.4%	Parent
FYE Mar 2019	16	+23.1%	Parent
FYE Mar 2020	17	+6.3%	Parent
FYE Mar 2021	25	+47.1%	Parent
FYE Mar 2022	40	+60.0%	Parent
FYE Mar 2023	36	−10.0%	Parent
FYE Mar 2024	37	+2.8%	Parent
FYE Mar 2025	50	+35.1%	Parent
FYE Mar 2026	67	+34.0%	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 Mar 2026 1,128万円

Change · 8 yrs +79万円

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	1,049	n/a	Parent
FYE Mar 2020	863	−17.7%	Parent
FYE Mar 2021	962	+11.5%	Parent
FYE Mar 2022	1,177	+22.3%	Parent
FYE Mar 2023	1,194	+1.4%	Parent
FYE Mar 2024	1,050	−12.1%	Parent
FYE Mar 2025	1,210	+15.3%	Parent
FYE Mar 2026	1,128	−6.8%	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 45.0years

Change · 8 yrs −7.0 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	52.0	n/a	Parent
FYE Mar 2020	52.0	−0.0%	Parent
FYE Mar 2021	53.0	+1.9%	Parent
FYE Mar 2022	53.0	−0.0%	Parent
FYE Mar 2023	52.0	−1.9%	Parent
FYE Mar 2024	49.0	−5.8%	Parent
FYE Mar 2025	47.0	−4.1%	Parent
FYE Mar 2026	45.0	−4.3%	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 14.0years

Change · 8 yrs +11.0 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	3.0	n/a	Parent
FYE Mar 2020	2.0	−33.3%	Parent
FYE Mar 2021	2.0	−0.0%	Parent
FYE Mar 2022	2.0	−0.0%	Parent
FYE Mar 2023	3.0	+50.0%	Parent
FYE Mar 2024	2.0	−33.3%	Parent
FYE Mar 2025	16.0	+700.0%	Parent
FYE Mar 2026	14.0	−12.5%	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)

Revenue per employee

FYE Mar 2026 ¥27.5m

Change · 10 yrs +¥4.2m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	23.3	n/a	Cons.
FYE Mar 2018	23.1	−1.2%	Cons.
FYE Mar 2019	18.9	−18.1%	Cons.
FYE Mar 2020	18.8	−0.2%	Cons.
FYE Mar 2021	18.6	−1.1%	Cons.
FYE Mar 2022	20.5	+9.9%	Cons.
FYE Mar 2023	19.8	−3.3%	Cons.
FYE Mar 2024	25.8	+30.0%	Cons.
FYE Mar 2025	24.5	−4.8%	Cons.
FYE Mar 2026	27.5	+12.3%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.4m

Change · 10 yrs +¥1.3m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	4.1	n/a	Cons.
FYE Mar 2018	3.3	−19.5%	Cons.
FYE Mar 2019	0.5	−84.5%	Cons.
FYE Mar 2020	0.6	+17.3%	Cons.
FYE Mar 2021	1.4	+135.8%	Cons.
FYE Mar 2022	1.4	+0.8%	Cons.
FYE Mar 2023	-0.3	−121.6%	Cons.
FYE Mar 2024	4.9	n/a	Cons.
FYE Mar 2025	3.8	−21.8%	Cons.
FYE Mar 2026	5.4	+40.5%	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.

Accuracy, liability, reuse and privacy — the full disclaimer →

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