Financials

Tokio Marine Holdings: FYE Mar 2026 and ten years of results (46 metrics)

FYE Mar 2026 · Revenue¥7.69tnYoY −8.8%

FYE Mar 2026 · Operating profit¥751bnYoY −48.6%

FYE Mar 2026 · Net profit¥980bnYoY −7.1%

FYE Mar 2026 · Equity ratio16.8%YoY +0.5pp

FYE Mar 2026 · Group employees67,526YoY +16,090

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥5.23tn	n/a	¥388bn	n/a	7.4%	¥274bn	Nagano Tsuyoshi	—
FYE Mar 2018Consolidated	¥5.40tn	+3.2%	¥345bn	−11.0%	6.4%	¥284bn	Nagano Tsuyoshi	—
FYE Mar 2019Consolidated	¥5.48tn	+1.4%	¥416bn	+20.7%	7.6%	¥275bn	Nagano Tsuyoshi	Record catastrophe payouts — west-Japan floods, Typhoon Jebi
FYE Mar 2020Consolidated	¥5.47tn	−0.2%	¥364bn	−12.6%	6.7%	¥260bn	Nagano Tsuyoshi	—
FYE Mar 2021Consolidated	¥5.46tn	−0.1%	¥267bn	−26.7%	4.9%	¥162bn	Komiya Satoru	Completes acquisition of the U.S. insurer PURE Group
FYE Mar 2022Consolidated	¥5.86tn	+7.4%	¥567bn	+112.7%	9.7%	¥420bn	Komiya Satoru	—
FYE Mar 2023Consolidated	¥6.61tn	+12.7%	¥494bn	−12.9%	7.5%	¥375bn	Komiya Satoru	FY2021 net profit of <span class="en-history_money" data-yen="420500000000" data-year="2022">$3.2B (¥421bn)</span>
FYE Mar 2024Consolidated	¥7.42tn	+12.3%	¥843bn	+70.5%	11.3%	¥696bn	Komiya Satoru	—
FYE Mar 2025Consolidated	¥8.44tn	+13.7%	¥1.46tn	+73.3%	17.3%	¥1.06tn	Komiya Satoru	Resolves to hold zero policy stocks by March 2030
FYE Mar 2026Consolidated	¥7.69tn	−8.8%	¥751bn	−48.6%	9.8%	¥980bn	Komiya Satoru	FY2024 net profit of <span class="en-history_money" data-yen="1055200000000" data-year="2025">$7.1B (¥1.06tn)</span>

How it compares

Tokio Marine Holdings¥7.69tnFY2025Operating margin 9.8%

MS&AD Insurance Group¥6.44tnFY2025Operating margin 8.2%Sompo Holdings¥5.37tnFY2025Operating margin 10.9%

Sompo Japan Insurance Inc.Delisted 2010

Aioi Insurance Company, LimitedDelisted 2010

NIPPONKOA Insurance Company, LimitedDelisted 2010

NISSAY DOWA General Insurance Co., Ltd.Delisted 2010

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

Where the revenue goes

¥ bn

Cost of sales SG&A Other operating costs Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥7.69tn

CAGR · 10 yrs +4.4%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	5,233	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5,399	+3.2%	Cons. · Japanese GAAP
FYE Mar 2019	5,477	+1.4%	Cons. · Japanese GAAP
FYE Mar 2020	5,465	−0.2%	Cons. · Japanese GAAP
FYE Mar 2021	5,461	−0.1%	Cons. · Japanese GAAP
FYE Mar 2022	5,864	+7.4%	Cons. · Japanese GAAP
FYE Mar 2023	6,610	+12.7%	Cons. · Japanese GAAP
FYE Mar 2024	7,425	+12.3%	Cons. · Japanese GAAP
FYE Mar 2025	8,440	+13.7%	Cons. · Japanese GAAP
FYE Mar 2026	7,694	moved to IFRS	Cons. · IFRS

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 ¥6.11tn

CAGR · 10 yrs +2.6%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	4,845	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5,054	+4.3%	Cons. · Japanese GAAP
FYE Mar 2019	5,060	+0.1%	Cons. · Japanese GAAP
FYE Mar 2020	5,101	+0.8%	Cons. · Japanese GAAP
FYE Mar 2021	5,194	+1.8%	Cons. · Japanese GAAP
FYE Mar 2022	5,296	+2.0%	Cons. · Japanese GAAP
FYE Mar 2023	6,116	+15.5%	Cons. · Japanese GAAP
FYE Mar 2024	6,582	+7.6%	Cons. · Japanese GAAP
FYE Mar 2025	6,980	+6.0%	Cons. · Japanese GAAP
FYE Mar 2026	6,114	moved to IFRS	Cons. · IFRS

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 n/a

CAGR · 9 yrs +18.0%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	388	n/a	Cons. · Japanese GAAP
FYE Mar 2018	345	−11.0%	Cons. · Japanese GAAP
FYE Mar 2019	416	+20.7%	Cons. · Japanese GAAP
FYE Mar 2020	364	−12.6%	Cons. · Japanese GAAP
FYE Mar 2021	267	−26.7%	Cons. · Japanese GAAP
FYE Mar 2022	567	+112.7%	Cons. · Japanese GAAP
FYE Mar 2023	494	−12.9%	Cons. · Japanese GAAP
FYE Mar 2024	843	+70.5%	Cons. · Japanese GAAP
FYE Mar 2025	1,460	+73.3%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	moved to IFRS	Cons. · IFRS

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 n/a

Average · 9 yrs ¥0.6m

Fiscal year	SG&A ¥ m	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	1.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	1.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	1.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2023	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	n/a	moved to IFRS	Cons. · IFRS

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 ¥751bn

CAGR · 10 yrs +7.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	388	n/a	Cons. · Japanese GAAP
FYE Mar 2018	345	−11.0%	Cons. · Japanese GAAP
FYE Mar 2019	416	+20.7%	Cons. · Japanese GAAP
FYE Mar 2020	364	−12.6%	Cons. · Japanese GAAP
FYE Mar 2021	267	−26.7%	Cons. · Japanese GAAP
FYE Mar 2022	567	+112.7%	Cons. · Japanese GAAP
FYE Mar 2023	494	−12.9%	Cons. · Japanese GAAP
FYE Mar 2024	843	+70.5%	Cons. · Japanese GAAP
FYE Mar 2025	1,460	+73.3%	Cons. · Japanese GAAP
FYE Mar 2026	751	moved to IFRS	Cons. · IFRS

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

Ordinary profit keijo rieki

FYE Mar 2026 n/a

CAGR · 9 yrs +18.0%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	388	n/a	Cons. · Japanese GAAP
FYE Mar 2018	345	−11.0%	Cons. · Japanese GAAP
FYE Mar 2019	416	+20.7%	Cons. · Japanese GAAP
FYE Mar 2020	364	−12.6%	Cons. · Japanese GAAP
FYE Mar 2021	267	−26.7%	Cons. · Japanese GAAP
FYE Mar 2022	567	+112.7%	Cons. · Japanese GAAP
FYE Mar 2023	494	−12.9%	Cons. · Japanese GAAP
FYE Mar 2024	843	+70.5%	Cons. · Japanese GAAP
FYE Mar 2025	1,460	+73.3%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	moved to IFRS	Cons. · IFRS

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 n/a

CAGR · 9 yrs +2.9%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	8.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.9	−76.5%	Cons. · Japanese GAAP
FYE Mar 2019	5.0	+158.8%	Cons. · Japanese GAAP
FYE Mar 2020	9.7	+93.5%	Cons. · Japanese GAAP
FYE Mar 2021	0.6	−93.3%	Cons. · Japanese GAAP
FYE Mar 2022	3.5	+434.7%	Cons. · Japanese GAAP
FYE Mar 2023	34.0	+880.8%	Cons. · Japanese GAAP
FYE Mar 2024	7.8	−77.0%	Cons. · Japanese GAAP
FYE Mar 2025	10.4	+32.5%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	moved to IFRS	Cons. · IFRS

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 ¥980bn

CAGR · 10 yrs +15.2%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	274	n/a	Cons. · Japanese GAAP
FYE Mar 2018	284	+3.8%	Cons. · Japanese GAAP
FYE Mar 2019	275	−3.4%	Cons. · Japanese GAAP
FYE Mar 2020	260	−5.4%	Cons. · Japanese GAAP
FYE Mar 2021	162	−37.7%	Cons. · Japanese GAAP
FYE Mar 2022	420	+159.9%	Cons. · Japanese GAAP
FYE Mar 2023	375	−10.9%	Cons. · Japanese GAAP
FYE Mar 2024	696	+85.7%	Cons. · Japanese GAAP
FYE Mar 2025	1,055	+51.7%	Cons. · Japanese GAAP
FYE Mar 2026	980	moved to IFRS	Cons. · IFRS

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

Gross margin

FYE Mar 2026 n/a

Average · 9 yrs 8.7%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.4	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	7.6	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	6.7	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	4.9	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	9.7	+4.8pp	Cons. · Japanese GAAP
FYE Mar 2023	7.5	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	11.3	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2025	17.3	+6.0pp	Cons. · Japanese GAAP
FYE Mar 2026	n/a	moved to IFRS	Cons. · IFRS

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

Operating margin

FYE Mar 2026 9.8%

Average · 10 yrs 8.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.4	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	7.6	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	6.7	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	4.9	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	9.7	+4.8pp	Cons. · Japanese GAAP
FYE Mar 2023	7.5	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	11.3	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2025	17.3	+6.0pp	Cons. · Japanese GAAP
FYE Mar 2026	9.8	moved to IFRS	Cons. · IFRS

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

Ordinary margin

FYE Mar 2026 n/a

Average · 9 yrs 8.7%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.4	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	7.6	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	6.7	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	4.9	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	9.7	+4.8pp	Cons. · Japanese GAAP
FYE Mar 2023	7.5	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	11.3	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2025	17.3	+6.0pp	Cons. · Japanese GAAP
FYE Mar 2026	n/a	moved to IFRS	Cons. · IFRS

Definition: The share of revenue left at the ordinary-profit line
Formula: Ordinary profit ÷ revenue
Source: Securities report (XBRL)

Net margin

FYE Mar 2026 12.7%

Average · 10 yrs 7.1%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	5.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	5.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	4.8	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	3.0	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	7.2	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2023	5.7	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	9.4	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2025	12.5	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2026	12.7	moved to IFRS	Cons. · IFRS

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

Cost-of-sales ratio

FYE Mar 2026 79.5%

Average · 10 yrs 90.1%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	92.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	93.6	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	92.4	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	93.3	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	95.1	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	90.3	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2023	92.5	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	88.7	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2025	82.7	−6.0pp	Cons. · Japanese GAAP
FYE Mar 2026	79.5	moved to IFRS	Cons. · IFRS

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 n/a

Average · 9 yrs 0.0%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	n/a	moved to IFRS	Cons. · IFRS

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 ¥32.0tn

CAGR · 10 yrs +3.9%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	22,608	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22,930	+1.4%	Cons. · Japanese GAAP
FYE Mar 2019	22,531	−1.7%	Cons. · Japanese GAAP
FYE Mar 2020	25,254	+12.1%	Cons. · Japanese GAAP
FYE Mar 2021	25,765	+2.0%	Cons. · Japanese GAAP
FYE Mar 2022	27,246	+5.7%	Cons. · Japanese GAAP
FYE Mar 2023	27,398	+0.6%	Cons. · Japanese GAAP
FYE Mar 2024	30,595	+11.7%	Cons. · Japanese GAAP
FYE Mar 2025	31,237	+2.1%	Cons. · Japanese GAAP
FYE Mar 2026	31,962	moved to IFRS	Cons. · IFRS

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 ¥5.36tn

CAGR · 10 yrs +4.7%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	3,544	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3,808	+7.4%	Cons. · Japanese GAAP
FYE Mar 2019	3,577	−6.1%	Cons. · Japanese GAAP
FYE Mar 2020	3,375	−5.6%	Cons. · Japanese GAAP
FYE Mar 2021	3,666	+8.6%	Cons. · Japanese GAAP
FYE Mar 2022	4,021	+9.7%	Cons. · Japanese GAAP
FYE Mar 2023	3,584	−10.9%	Cons. · Japanese GAAP
FYE Mar 2024	5,177	+44.4%	Cons. · Japanese GAAP
FYE Mar 2025	5,077	−1.9%	Cons. · Japanese GAAP
FYE Mar 2026	5,361	moved to IFRS	Cons. · IFRS

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 ¥598bn

CAGR · 10 yrs +27.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	69.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	59.8	−13.5%	Cons. · Japanese GAAP
FYE Mar 2019	57.5	−3.8%	Cons. · Japanese GAAP
FYE Mar 2020	271	+370.4%	Cons. · Japanese GAAP
FYE Mar 2021	231	−14.8%	Cons. · Japanese GAAP
FYE Mar 2022	220	−4.7%	Cons. · Japanese GAAP
FYE Mar 2023	223	+1.4%	Cons. · Japanese GAAP
FYE Mar 2024	224	+0.7%	Cons. · Japanese GAAP
FYE Mar 2025	227	+1.3%	Cons. · Japanese GAAP
FYE Mar 2026	598	moved to IFRS	Cons. · IFRS

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

Long-term borrowings

FYE Mar 2026 n/a

CAGR · 9 yrs +16.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	69.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	59.8	−13.5%	Cons. · Japanese GAAP
FYE Mar 2019	57.5	−3.8%	Cons. · Japanese GAAP
FYE Mar 2020	271	+370.4%	Cons. · Japanese GAAP
FYE Mar 2021	231	−14.8%	Cons. · Japanese GAAP
FYE Mar 2022	220	−4.7%	Cons. · Japanese GAAP
FYE Mar 2023	223	+1.4%	Cons. · Japanese GAAP
FYE Mar 2024	224	+0.7%	Cons. · Japanese GAAP
FYE Mar 2025	227	+1.3%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	moved to IFRS	Cons. · IFRS

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 ¥1.58tn

CAGR · 10 yrs +6.7%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	880	n/a	Cons. · Japanese GAAP
FYE Mar 2018	798	−9.3%	Cons. · Japanese GAAP
FYE Mar 2019	768	−3.8%	Cons. · Japanese GAAP
FYE Mar 2020	1,101	+43.5%	Cons. · Japanese GAAP
FYE Mar 2021	1,055	−4.2%	Cons. · Japanese GAAP
FYE Mar 2022	1,083	+2.6%	Cons. · Japanese GAAP
FYE Mar 2023	1,164	+7.6%	Cons. · Japanese GAAP
FYE Mar 2024	1,151	−1.2%	Cons. · Japanese GAAP
FYE Mar 2025	1,158	+0.6%	Cons. · Japanese GAAP
FYE Mar 2026	1,580	moved to IFRS	Cons. · IFRS

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

Goodwill

FYE Mar 2026 ¥592bn

CAGR · 10 yrs +2.7%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	467	n/a	Cons. · Japanese GAAP
FYE Mar 2018	424	−9.3%	Cons. · Japanese GAAP
FYE Mar 2019	412	−2.8%	Cons. · Japanese GAAP
FYE Mar 2020	533	+29.6%	Cons. · Japanese GAAP
FYE Mar 2021	486	−9.0%	Cons. · Japanese GAAP
FYE Mar 2022	453	−6.6%	Cons. · Japanese GAAP
FYE Mar 2023	429	−5.5%	Cons. · Japanese GAAP
FYE Mar 2024	373	−13.1%	Cons. · Japanese GAAP
FYE Mar 2025	318	−14.5%	Cons. · Japanese GAAP
FYE Mar 2026	592	moved to IFRS	Cons. · IFRS

Definition: What an acquisition cost above the net assets it brought
Formula: Goodwill line of the balance sheet
Source: Securities report (XBRL)

Equity ratio

FYE Mar 2026 16.8%

Average · 10 yrs 15.4%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	15.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.6	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	15.9	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	13.4	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2021	14.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2022	14.8	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	13.1	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	16.9	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2025	16.3	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	16.8	moved to IFRS	Cons. · IFRS

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 11.2%

Average · 10 yrs 5.1%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	1.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	8.0	+6.4pp	Cons. · Japanese GAAP
FYE Mar 2021	6.3	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	5.5	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	6.2	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	4.3	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2025	4.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	11.2	moved to IFRS	Cons. · IFRS

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 18.3%

Average · 10 yrs 10.8%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	7.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.5	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	7.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	7.7	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	4.4	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2022	10.5	+6.0pp	Cons. · Japanese GAAP
FYE Mar 2023	10.5	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	13.4	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2025	20.8	+7.3pp	Cons. · Japanese GAAP
FYE Mar 2026	18.3	moved to IFRS	Cons. · IFRS

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

ROA return on assets

FYE Mar 2026 3.1%

Average · 10 yrs 1.7%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	1.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	1.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	0.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	1.5	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	1.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	2.3	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	3.4	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	3.1	moved to IFRS	Cons. · IFRS

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 +0.4%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.23	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.24	+1.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.24	+3.2%	Cons. · Japanese GAAP
FYE Mar 2020	0.22	−11.0%	Cons. · Japanese GAAP
FYE Mar 2021	0.21	−2.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.22	+1.5%	Cons. · Japanese GAAP
FYE Mar 2023	0.24	+12.1%	Cons. · Japanese GAAP
FYE Mar 2024	0.24	+0.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.27	+11.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.24	moved to IFRS	Cons. · IFRS

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 ¥584bn

CAGR · 10 yrs −5.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	942	n/a	Cons. · Japanese GAAP
FYE Mar 2018	916	−2.7%	Cons. · Japanese GAAP
FYE Mar 2019	945	+3.2%	Cons. · Japanese GAAP
FYE Mar 2020	998	+5.5%	Cons. · Japanese GAAP
FYE Mar 2021	1,178	+18.1%	Cons. · Japanese GAAP
FYE Mar 2022	1,102	−6.4%	Cons. · Japanese GAAP
FYE Mar 2023	1,008	−8.6%	Cons. · Japanese GAAP
FYE Mar 2024	1,072	+6.4%	Cons. · Japanese GAAP
FYE Mar 2025	1,345	+25.5%	Cons. · Japanese GAAP
FYE Mar 2026	584	moved to IFRS	Cons. · IFRS

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

Investing cash flow

FYE Mar 2026 ¥640bn

Average · 10 yrs -¥613bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-1,456	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-360	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-567	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-2,546	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-731	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-665	n/a	Cons. · Japanese GAAP
FYE Mar 2023	18.1	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-628	−3574.4%	Cons. · Japanese GAAP
FYE Mar 2025	165	n/a	Cons. · Japanese GAAP
FYE Mar 2026	640	moved to IFRS	Cons. · IFRS

Definition: Cash spent on, or released by, investment
Formula: Cash flow from investing activities
Source: Securities report (XBRL)

Financing cash flow

FYE Mar 2026 -¥624bn

Average · 10 yrs -¥335bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	365	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-632	−272.9%	Cons. · Japanese GAAP
FYE Mar 2019	-379	n/a	Cons. · Japanese GAAP
FYE Mar 2020	1,543	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-513	−133.2%	Cons. · Japanese GAAP
FYE Mar 2022	-505	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-1,009	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-406	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-1,188	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-624	moved to IFRS	Cons. · IFRS

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 ¥2.09tn

CAGR · 10 yrs +7.3%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	1,109	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,029	−7.2%	Cons. · Japanese GAAP
FYE Mar 2019	1,023	−0.5%	Cons. · Japanese GAAP
FYE Mar 2020	1,021	−0.2%	Cons. · Japanese GAAP
FYE Mar 2021	925	−9.4%	Cons. · Japanese GAAP
FYE Mar 2022	912	−1.3%	Cons. · Japanese GAAP
FYE Mar 2023	985	+8.0%	Cons. · Japanese GAAP
FYE Mar 2024	1,087	+10.3%	Cons. · Japanese GAAP
FYE Mar 2025	1,470	+35.2%	Cons. · Japanese GAAP
FYE Mar 2026	2,085	moved to IFRS	Cons. · IFRS

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 ¥1.22tn

Average · 10 yrs ¥396bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-514	n/a	Cons. · Japanese GAAP
FYE Mar 2018	556	n/a	Cons. · Japanese GAAP
FYE Mar 2019	379	−31.9%	Cons. · Japanese GAAP
FYE Mar 2020	-1,549	−509.0%	Cons. · Japanese GAAP
FYE Mar 2021	447	n/a	Cons. · Japanese GAAP
FYE Mar 2022	437	−2.3%	Cons. · Japanese GAAP
FYE Mar 2023	1,026	+134.8%	Cons. · Japanese GAAP
FYE Mar 2024	444	−56.7%	Cons. · Japanese GAAP
FYE Mar 2025	1,510	+239.7%	Cons. · Japanese GAAP
FYE Mar 2026	1,224	moved to IFRS	Cons. · IFRS

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 7.6%

Average · 10 yrs 16.4%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	18.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.0	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	17.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	18.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2021	21.6	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2022	18.8	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2023	15.2	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2024	14.4	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	15.9	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	7.6	moved to IFRS	Cons. · IFRS

Definition: How much of the revenue turned into cash
Formula: Operating cash flow ÷ revenue
Source: Securities report (XBRL)

Net cash

FYE Mar 2026 ¥1.49tn

CAGR · 10 yrs +4.1%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	1,040	n/a	Cons. · Japanese GAAP
FYE Mar 2018	969	−6.8%	Cons. · Japanese GAAP
FYE Mar 2019	966	−0.3%	Cons. · Japanese GAAP
FYE Mar 2020	751	−22.3%	Cons. · Japanese GAAP
FYE Mar 2021	694	−7.5%	Cons. · Japanese GAAP
FYE Mar 2022	692	−0.2%	Cons. · Japanese GAAP
FYE Mar 2023	763	+10.1%	Cons. · Japanese GAAP
FYE Mar 2024	863	+13.1%	Cons. · Japanese GAAP
FYE Mar 2025	1,243	+44.1%	Cons. · Japanese GAAP
FYE Mar 2026	1,487	moved to IFRS	Cons. · IFRS

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 ¥14.1tn

Change · 10 yrs +¥10.6tn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	3,537	n/a
FYE Mar 2018	3,542	n/a
FYE Mar 2019	3,807	n/a
FYE Mar 2020	3,475	n/a
FYE Mar 2021	3,672	n/a
FYE Mar 2022	4,847	n/a
FYE Mar 2023	5,099	n/a
FYE Mar 2024	9,305	n/a
FYE Mar 2025	11,095	n/a
FYE Mar 2026	14,133	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 7,308¥

Change · 10 yrs +2,611¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	4,697	n/a
FYE Mar 2018	4,736	n/a
FYE Mar 2019	5,362	n/a
FYE Mar 2020	4,951	n/a
FYE Mar 2021	5,264	n/a
FYE Mar 2022	7,128	n/a
FYE Mar 2023	2,547	n/a
FYE Mar 2024	4,704	n/a
FYE Mar 2025	5,737	n/a
FYE Mar 2026	7,308	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 1,934,000,000shares

Change · 10 yrs +1,180,976,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	753,024,000	Parent
FYE Mar 2018	748,024,000	Parent
FYE Mar 2019	710,000,000	Parent
FYE Mar 2020	702,000,000	Parent
FYE Mar 2021	697,500,000	Parent
FYE Mar 2022	680,000,000	Parent
FYE Mar 2023	2,002,500,000	Parent
FYE Mar 2024	1,978,000,000	Parent
FYE Mar 2025	1,934,000,000	Parent
FYE Mar 2026	1,934,000,000	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 279.35¥

Change · 10 yrs −84.17¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	363.52	Cons.
FYE Mar 2018	382.83	Cons.
FYE Mar 2019	127.67	Cons.
FYE Mar 2020	123.24	Cons.
FYE Mar 2021	77.37	Cons.
FYE Mar 2022	204.48	Cons.
FYE Mar 2023	186.42	Cons.
FYE Mar 2024	351.59	Cons.
FYE Mar 2025	231.41	Cons.
FYE Mar 2026	279.35	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 2,771.85¥

Change · 10 yrs −1,935.09¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	4,706.94	Cons. · Japanese GAAP
FYE Mar 2018	5,090.41	Cons. · Japanese GAAP
FYE Mar 2019	5,037.63	Cons. · Japanese GAAP
FYE Mar 2020	4,807.26	Cons. · Japanese GAAP
FYE Mar 2021	5,256.49	Cons. · Japanese GAAP
FYE Mar 2022	5,912.76	Cons. · Japanese GAAP
FYE Mar 2023	1,789.91	Cons. · Japanese GAAP
FYE Mar 2024	2,617.11	Cons. · Japanese GAAP
FYE Mar 2025	2,625.05	Cons. · Japanese GAAP
FYE Mar 2026	2,771.85	Cons. · IFRS

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

PER price-to-earnings ratio

FYE Mar 2026 26.16×

Average · 10 yrs 16.50×

Fiscal year	PER ×	Basis
FYE Mar 2017	12.92	Cons.
FYE Mar 2018	12.37	Cons.
FYE Mar 2019	14.00	Cons.
FYE Mar 2020	13.39	Cons.
FYE Mar 2021	22.68	Cons.
FYE Mar 2022	11.62	Cons.
FYE Mar 2023	13.66	Cons.
FYE Mar 2024	13.38	Cons.
FYE Mar 2025	24.79	Cons.
FYE Mar 2026	26.16	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 1.73×

Average · 10 yrs 1.21×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.99	Cons.
FYE Mar 2018	0.90	Cons.
FYE Mar 2019	1.06	Cons.
FYE Mar 2020	1.02	Cons.
FYE Mar 2021	1.00	Cons.
FYE Mar 2022	1.20	Cons.
FYE Mar 2023	1.41	Cons.
FYE Mar 2024	1.24	Cons.
FYE Mar 2025	1.56	Cons.
FYE Mar 2026	1.73	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 67,526people

Change · 10 yrs +28,684 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	38,842	n/a	Cons.
FYE Mar 2018	39,191	+0.9%	Cons.
FYE Mar 2019	40,848	+4.2%	Cons.
FYE Mar 2020	41,101	+0.6%	Cons.
FYE Mar 2021	43,257	+5.2%	Cons.
FYE Mar 2022	43,048	−0.5%	Cons.
FYE Mar 2023	43,217	+0.4%	Cons.
FYE Mar 2024	43,870	+1.5%	Cons.
FYE Mar 2025	51,436	+17.2%	Cons.
FYE Mar 2026	67,526	+31.3%	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 Mar 2026 1,339people

Change · 10 yrs +752 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	587	n/a	Parent
FYE Mar 2018	642	+9.4%	Parent
FYE Mar 2019	706	+10.0%	Parent
FYE Mar 2020	752	+6.5%	Parent
FYE Mar 2021	811	+7.8%	Parent
FYE Mar 2022	877	+8.1%	Parent
FYE Mar 2023	971	+10.7%	Parent
FYE Mar 2024	1,117	+15.0%	Parent
FYE Mar 2025	1,232	+10.3%	Parent
FYE Mar 2026	1,339	+8.7%	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 ¥14.9m

Change · 10 yrs +¥1.4m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	13.5	n/a	Parent
FYE Mar 2018	13.9	+3.1%	Parent
FYE Mar 2019	13.4	−3.7%	Parent
FYE Mar 2020	12.5	−7.0%	Parent
FYE Mar 2021	12.9	+3.8%	Parent
FYE Mar 2022	14.1	+9.3%	Parent
FYE Mar 2023	14.3	+1.3%	Parent
FYE Mar 2024	13.9	−2.8%	Parent
FYE Mar 2025	15.4	+10.5%	Parent
FYE Mar 2026	14.9	−3.2%	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 Mar 2026 42.4years

Change · 8 yrs −1.1 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	43.5	n/a	Parent
FYE Mar 2020	43.2	−0.7%	Parent
FYE Mar 2021	43.7	+1.2%	Parent
FYE Mar 2022	43.3	−0.9%	Parent
FYE Mar 2023	43.2	−0.2%	Parent
FYE Mar 2024	42.8	−0.9%	Parent
FYE Mar 2025	41.7	−2.6%	Parent
FYE Mar 2026	42.4	+1.7%	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 14.8years

Change · 10 yrs −5.0 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	19.8	n/a	Parent
FYE Mar 2018	19.9	+0.5%	Parent
FYE Mar 2019	19.6	−1.5%	Parent
FYE Mar 2020	19.0	−3.1%	Parent
FYE Mar 2021	18.1	−4.7%	Parent
FYE Mar 2022	18.2	+0.6%	Parent
FYE Mar 2023	17.5	−3.8%	Parent
FYE Mar 2024	16.8	−4.0%	Parent
FYE Mar 2025	16.2	−3.6%	Parent
FYE Mar 2026	14.8	−8.6%	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 ¥114m

Change · 10 yrs −¥20.8m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	135	n/a	Cons.
FYE Mar 2018	138	+2.3%	Cons.
FYE Mar 2019	134	−2.7%	Cons.
FYE Mar 2020	133	−0.8%	Cons.
FYE Mar 2021	126	−5.1%	Cons.
FYE Mar 2022	136	+7.9%	Cons.
FYE Mar 2023	153	+12.3%	Cons.
FYE Mar 2024	169	+10.7%	Cons.
FYE Mar 2025	164	−3.0%	Cons.
FYE Mar 2026	114	n/a	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥11.1m

Change · 10 yrs +¥1.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	10.0	n/a	Cons.
FYE Mar 2018	8.8	−11.8%	Cons.
FYE Mar 2019	10.2	+15.8%	Cons.
FYE Mar 2020	8.9	−13.1%	Cons.
FYE Mar 2021	6.2	−30.4%	Cons.
FYE Mar 2022	13.2	+113.8%	Cons.
FYE Mar 2023	11.4	−13.2%	Cons.
FYE Mar 2024	19.2	+68.0%	Cons.
FYE Mar 2025	28.4	+47.8%	Cons.
FYE Mar 2026	11.1	n/a	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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