Financials

Tokyo Tatemono: FYE Dec 2025 and ten years of results (51 metrics)

FYE Dec 2025 · Revenue¥475bnYoY +2.3%

FYE Dec 2025 · Operating profit¥96bnYoY +20.2%

FYE Dec 2025 · Net profit¥59bnYoY −10.6%

FYE Dec 2025 · Equity ratio26.0%YoY +0.2pp

FYE Dec 2025 · Group employees5,035YoY +110

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Dec 2016Consolidated	¥254bn	n/a	¥36bn	n/a	14.3%	¥20bn	Sakuma Hajime	—
FYE Dec 2017Consolidated	¥267bn	+4.9%	¥45bn	+23.1%	16.8%	¥23bn	Sakuma Hajime	<a class="en-history_person" href="/tse/8804/executives/ceo/nomura-hitoshi/" hreflang="ja">Nomura Hitoshi</a> becomes president
FYE Dec 2018Consolidated	¥273bn	+2.4%	¥47bn	+4.5%	17.1%	¥27bn	Nomura Hitoshi	—
FYE Dec 2019Consolidated	¥323bn	+18.2%	¥52bn	+12.1%	16.2%	¥30bn	Nomura Hitoshi	—
FYE Dec 2020Consolidated	¥335bn	+3.7%	¥50bn	−5.3%	14.8%	¥32bn	Nomura Hitoshi	Head office returns to Yaesu; Hareza Tower completed
FYE Dec 2021Consolidated	¥340bn	+1.6%	¥59bn	+18.4%	17.3%	¥35bn	Nomura Hitoshi	—
FYE Dec 2022Consolidated	¥350bn	+2.8%	¥64bn	+9.7%	18.4%	¥43bn	Nomura Hitoshi	—
FYE Dec 2023Consolidated	¥376bn	+7.4%	¥71bn	+9.4%	18.8%	¥45bn	Nomura Hitoshi	—
FYE Dec 2024Consolidated	¥464bn	+23.3%	¥80bn	+13.0%	17.2%	¥66bn	Nomura Hitoshi	—
FYE Dec 2025Consolidated	¥475bn	+2.3%	¥96bn	+20.2%	20.2%	¥59bn	Nomura Hitoshi	<a class="en-history_person" href="/tse/8804/executives/ceo/ozawa-katsuto/" hreflang="ja">Ozawa Katsuto</a> becomes president; balance-sheet reform

How it compares

Mitsui Fudosan¥2.71tnFY2025Operating margin 14.7%Mitsubishi Estate¥1.75tnFY2025Operating margin 18.9%Tokyu Fudosan Holdings¥1.25tnFY2025Operating margin 13.4%Sumitomo Realty & Development¥1.06tnFY2025Operating margin 28.3%Nomura Real Estate Holdings¥943bnFY2025Operating margin 14.7%Hulic¥727bnFY2025Operating margin 25.7%

Tokyo Tatemono¥475bnFY2025Operating margin 20.2%

Mori Building Co., Ltd.¥411bnFY2025Operating margin 23.8%

DAIKYO INCORPORATEDDelisted 2019

Nihonkuukoubirudengu¥290bnFY2025Operating margin 15.5%

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 Dec 2025 ¥475bn

CAGR · 10 yrs +7.2%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Dec 2016	254	n/a	Cons. · Japanese GAAP
FYE Dec 2017	267	+4.9%	Cons. · Japanese GAAP
FYE Dec 2018	273	+2.4%	Cons. · Japanese GAAP
FYE Dec 2019	323	+18.2%	Cons. · Japanese GAAP
FYE Dec 2020	335	+3.7%	Cons. · Japanese GAAP
FYE Dec 2021	340	+1.6%	Cons. · Japanese GAAP
FYE Dec 2022	350	+2.8%	Cons. · Japanese GAAP
FYE Dec 2023	376	+7.4%	Cons. · Japanese GAAP
FYE Dec 2024	464	+23.3%	Cons. · Japanese GAAP
FYE Dec 2025	475	+2.3%	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 Dec 2025 ¥332bn

CAGR · 10 yrs +6.4%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Dec 2016	190	n/a	Cons. · Japanese GAAP
FYE Dec 2017	189	−0.7%	Cons. · Japanese GAAP
FYE Dec 2018	192	+1.6%	Cons. · Japanese GAAP
FYE Dec 2019	233	+21.4%	Cons. · Japanese GAAP
FYE Dec 2020	252	+8.0%	Cons. · Japanese GAAP
FYE Dec 2021	248	−1.6%	Cons. · Japanese GAAP
FYE Dec 2022	248	+0.2%	Cons. · Japanese GAAP
FYE Dec 2023	267	+7.4%	Cons. · Japanese GAAP
FYE Dec 2024	337	+26.3%	Cons. · Japanese GAAP
FYE Dec 2025	332	−1.4%	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 Dec 2025 ¥142bn

CAGR · 10 yrs +9.3%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Dec 2016	64.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	77.9	+21.6%	Cons. · Japanese GAAP
FYE Dec 2018	81.2	+4.2%	Cons. · Japanese GAAP
FYE Dec 2019	89.7	+10.5%	Cons. · Japanese GAAP
FYE Dec 2020	83.0	−7.4%	Cons. · Japanese GAAP
FYE Dec 2021	92.5	+11.5%	Cons. · Japanese GAAP
FYE Dec 2022	101	+9.7%	Cons. · Japanese GAAP
FYE Dec 2023	109	+7.5%	Cons. · Japanese GAAP
FYE Dec 2024	127	+16.1%	Cons. · Japanese GAAP
FYE Dec 2025	142	+12.4%	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 Dec 2025 ¥47bn

CAGR · 10 yrs +5.9%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Dec 2016	27.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	33.1	+19.6%	Cons. · Japanese GAAP
FYE Dec 2018	34.4	+3.8%	Cons. · Japanese GAAP
FYE Dec 2019	37.3	+8.4%	Cons. · Japanese GAAP
FYE Dec 2020	33.4	−10.4%	Cons. · Japanese GAAP
FYE Dec 2021	33.8	+1.1%	Cons. · Japanese GAAP
FYE Dec 2022	37.0	+9.6%	Cons. · Japanese GAAP
FYE Dec 2023	38.6	+4.3%	Cons. · Japanese GAAP
FYE Dec 2024	47.0	+21.6%	Cons. · Japanese GAAP
FYE Dec 2025	46.6	−0.8%	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 Dec 2025 ¥96bn

CAGR · 10 yrs +11.4%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Dec 2016	36.4	n/a	Cons. · Japanese GAAP
FYE Dec 2017	44.8	+23.1%	Cons. · Japanese GAAP
FYE Dec 2018	46.8	+4.5%	Cons. · Japanese GAAP
FYE Dec 2019	52.4	+12.1%	Cons. · Japanese GAAP
FYE Dec 2020	49.6	−5.3%	Cons. · Japanese GAAP
FYE Dec 2021	58.8	+18.4%	Cons. · Japanese GAAP
FYE Dec 2022	64.5	+9.7%	Cons. · Japanese GAAP
FYE Dec 2023	70.5	+9.4%	Cons. · Japanese GAAP
FYE Dec 2024	79.7	+13.0%	Cons. · Japanese GAAP
FYE Dec 2025	95.8	+20.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Dec 2025 ¥5.5bn

CAGR · 10 yrs +2.8%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Dec 2016	4.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.4	+2.9%	Cons. · Japanese GAAP
FYE Dec 2018	3.6	−17.9%	Cons. · Japanese GAAP
FYE Dec 2019	3.5	−1.6%	Cons. · Japanese GAAP
FYE Dec 2020	5.7	+60.9%	Cons. · Japanese GAAP
FYE Dec 2021	6.9	+20.9%	Cons. · Japanese GAAP
FYE Dec 2022	6.3	−8.3%	Cons. · Japanese GAAP
FYE Dec 2023	9.2	+46.0%	Cons. · Japanese GAAP
FYE Dec 2024	8.4	−9.2%	Cons. · Japanese GAAP
FYE Dec 2025	5.5	−34.6%	Cons. · Japanese GAAP

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

Non-operating expenses

FYE Dec 2025 ¥23bn

CAGR · 10 yrs +9.7%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Dec 2016	10.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	9.7	−2.6%	Cons. · Japanese GAAP
FYE Dec 2018	8.3	−14.4%	Cons. · Japanese GAAP
FYE Dec 2019	11.3	+36.2%	Cons. · Japanese GAAP
FYE Dec 2020	8.3	−27.2%	Cons. · Japanese GAAP
FYE Dec 2021	19.4	+135.1%	Cons. · Japanese GAAP
FYE Dec 2022	7.3	−62.6%	Cons. · Japanese GAAP
FYE Dec 2023	10.2	+41.2%	Cons. · Japanese GAAP
FYE Dec 2024	16.3	+59.2%	Cons. · Japanese GAAP
FYE Dec 2025	23.0	+41.3%	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 Dec 2025 ¥78bn

CAGR · 10 yrs +11.0%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Dec 2016	30.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	39.4	+28.7%	Cons. · Japanese GAAP
FYE Dec 2018	42.0	+6.6%	Cons. · Japanese GAAP
FYE Dec 2019	44.6	+6.1%	Cons. · Japanese GAAP
FYE Dec 2020	47.1	+5.5%	Cons. · Japanese GAAP
FYE Dec 2021	46.3	−1.7%	Cons. · Japanese GAAP
FYE Dec 2022	63.5	+37.3%	Cons. · Japanese GAAP
FYE Dec 2023	69.5	+9.3%	Cons. · Japanese GAAP
FYE Dec 2024	71.7	+3.2%	Cons. · Japanese GAAP
FYE Dec 2025	78.2	+9.0%	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 Dec 2025 ¥12bn

CAGR · 10 yrs +12.8%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Dec 2016	4.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.4	−90.4%	Cons. · Japanese GAAP
FYE Dec 2018	0.7	+79.6%	Cons. · Japanese GAAP
FYE Dec 2019	2.9	+307.2%	Cons. · Japanese GAAP
FYE Dec 2020	4.7	+61.3%	Cons. · Japanese GAAP
FYE Dec 2021	10.7	+126.6%	Cons. · Japanese GAAP
FYE Dec 2022	1.7	−84.5%	Cons. · Japanese GAAP
FYE Dec 2023	3.0	+81.1%	Cons. · Japanese GAAP
FYE Dec 2024	27.9	+829.9%	Cons. · Japanese GAAP
FYE Dec 2025	12.3	−55.8%	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 Dec 2025 ¥59bn

CAGR · 10 yrs +12.9%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Dec 2016	19.7	n/a	Cons. · Japanese GAAP
FYE Dec 2017	22.6	+14.5%	Cons. · Japanese GAAP
FYE Dec 2018	27.3	+20.7%	Cons. · Japanese GAAP
FYE Dec 2019	29.8	+9.2%	Cons. · Japanese GAAP
FYE Dec 2020	31.8	+6.7%	Cons. · Japanese GAAP
FYE Dec 2021	35.0	+10.0%	Cons. · Japanese GAAP
FYE Dec 2022	43.1	+23.2%	Cons. · Japanese GAAP
FYE Dec 2023	45.1	+4.7%	Cons. · Japanese GAAP
FYE Dec 2024	65.9	+46.1%	Cons. · Japanese GAAP
FYE Dec 2025	58.9	−10.6%	Cons. · Japanese GAAP

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

Gross margin

FYE Dec 2025 30.0%

Average · 10 yrs 27.9%

Fiscal year	Gross margin %	YoY	Basis
FYE Dec 2016	25.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	29.2	+4.0pp	Cons. · Japanese GAAP
FYE Dec 2018	29.7	+0.5pp	Cons. · Japanese GAAP
FYE Dec 2019	27.8	−1.9pp	Cons. · Japanese GAAP
FYE Dec 2020	24.8	−3.0pp	Cons. · Japanese GAAP
FYE Dec 2021	27.2	+2.4pp	Cons. · Japanese GAAP
FYE Dec 2022	29.0	+1.8pp	Cons. · Japanese GAAP
FYE Dec 2023	29.0	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2024	27.3	−1.7pp	Cons. · Japanese GAAP
FYE Dec 2025	30.0	+2.7pp	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 Dec 2025 20.2%

Average · 10 yrs 17.1%

Fiscal year	Operating margin %	YoY	Basis
FYE Dec 2016	14.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	16.8	+2.5pp	Cons. · Japanese GAAP
FYE Dec 2018	17.1	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2019	16.2	−0.9pp	Cons. · Japanese GAAP
FYE Dec 2020	14.8	−1.4pp	Cons. · Japanese GAAP
FYE Dec 2021	17.3	+2.4pp	Cons. · Japanese GAAP
FYE Dec 2022	18.4	+1.2pp	Cons. · Japanese GAAP
FYE Dec 2023	18.8	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2024	17.2	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2025	20.2	+3.0pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Dec 2025 16.5%

Average · 10 yrs 15.2%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Dec 2016	12.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	14.8	+2.7pp	Cons. · Japanese GAAP
FYE Dec 2018	15.4	+0.6pp	Cons. · Japanese GAAP
FYE Dec 2019	13.8	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2020	14.1	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2021	13.6	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2022	18.2	+4.6pp	Cons. · Japanese GAAP
FYE Dec 2023	18.5	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2024	15.5	−3.0pp	Cons. · Japanese GAAP
FYE Dec 2025	16.5	+1.0pp	Cons. · Japanese GAAP

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

Net margin

FYE Dec 2025 12.4%

Average · 10 yrs 10.6%

Fiscal year	Net margin %	YoY	Basis
FYE Dec 2016	7.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	8.5	+0.7pp	Cons. · Japanese GAAP
FYE Dec 2018	10.0	+1.5pp	Cons. · Japanese GAAP
FYE Dec 2019	9.2	−0.8pp	Cons. · Japanese GAAP
FYE Dec 2020	9.5	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2021	10.3	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2022	12.3	+2.0pp	Cons. · Japanese GAAP
FYE Dec 2023	12.0	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2024	14.2	+2.2pp	Cons. · Japanese GAAP
FYE Dec 2025	12.4	−1.8pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Dec 2025 70.0%

Average · 10 yrs 72.1%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Dec 2016	74.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	70.8	−4.0pp	Cons. · Japanese GAAP
FYE Dec 2018	70.3	−0.5pp	Cons. · Japanese GAAP
FYE Dec 2019	72.2	+1.9pp	Cons. · Japanese GAAP
FYE Dec 2020	75.2	+3.0pp	Cons. · Japanese GAAP
FYE Dec 2021	72.8	−2.4pp	Cons. · Japanese GAAP
FYE Dec 2022	71.0	−1.8pp	Cons. · Japanese GAAP
FYE Dec 2023	71.0	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2024	72.7	+1.7pp	Cons. · Japanese GAAP
FYE Dec 2025	70.0	−2.7pp	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 Dec 2025 9.8%

Average · 10 yrs 10.8%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Dec 2016	10.9	n/a	Cons. · Japanese GAAP
FYE Dec 2017	12.4	+1.5pp	Cons. · Japanese GAAP
FYE Dec 2018	12.6	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2019	11.5	−1.0pp	Cons. · Japanese GAAP
FYE Dec 2020	10.0	−1.6pp	Cons. · Japanese GAAP
FYE Dec 2021	9.9	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2022	10.6	+0.7pp	Cons. · Japanese GAAP
FYE Dec 2023	10.3	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2024	10.1	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2025	9.8	−0.3pp	Cons. · Japanese GAAP

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

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

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Dec 2025 ¥2.27tn

CAGR · 10 yrs +6.3%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Dec 2016	1,315	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1,441	+9.6%	Cons. · Japanese GAAP
FYE Dec 2018	1,450	+0.6%	Cons. · Japanese GAAP
FYE Dec 2019	1,564	+7.9%	Cons. · Japanese GAAP
FYE Dec 2020	1,625	+3.9%	Cons. · Japanese GAAP
FYE Dec 2021	1,651	+1.6%	Cons. · Japanese GAAP
FYE Dec 2022	1,720	+4.2%	Cons. · Japanese GAAP
FYE Dec 2023	1,905	+10.8%	Cons. · Japanese GAAP
FYE Dec 2024	2,081	+9.2%	Cons. · Japanese GAAP
FYE Dec 2025	2,273	+9.2%	Cons. · Japanese GAAP

Definition: Everything the company holds
Formula: Total assets line of the balance sheet
Source: Securities report (XBRL)

Equity net assets, shareholders' equity

FYE Dec 2025 ¥591bn

CAGR · 10 yrs +7.1%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Dec 2016	318	n/a	Cons. · Japanese GAAP
FYE Dec 2017	345	+8.5%	Cons. · Japanese GAAP
FYE Dec 2018	348	+0.9%	Cons. · Japanese GAAP
FYE Dec 2019	375	+7.7%	Cons. · Japanese GAAP
FYE Dec 2020	389	+3.8%	Cons. · Japanese GAAP
FYE Dec 2021	417	+7.1%	Cons. · Japanese GAAP
FYE Dec 2022	446	+6.9%	Cons. · Japanese GAAP
FYE Dec 2023	497	+11.4%	Cons. · Japanese GAAP
FYE Dec 2024	536	+7.9%	Cons. · Japanese GAAP
FYE Dec 2025	591	+10.3%	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 Dec 2025 ¥1.04tn

CAGR · 10 yrs +6.6%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Dec 2016	586	n/a	Cons. · Japanese GAAP
FYE Dec 2017	649	+10.8%	Cons. · Japanese GAAP
FYE Dec 2018	660	+1.7%	Cons. · Japanese GAAP
FYE Dec 2019	612	−7.3%	Cons. · Japanese GAAP
FYE Dec 2020	694	+13.4%	Cons. · Japanese GAAP
FYE Dec 2021	659	−5.0%	Cons. · Japanese GAAP
FYE Dec 2022	683	+3.5%	Cons. · Japanese GAAP
FYE Dec 2023	772	+13.1%	Cons. · Japanese GAAP
FYE Dec 2024	880	+13.9%	Cons. · Japanese GAAP
FYE Dec 2025	1,039	+18.1%	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Dec 2025 ¥66bn

CAGR · 10 yrs −3.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	87.6	n/a	Cons. · Japanese GAAP
FYE Dec 2017	66.7	−23.8%	Cons. · Japanese GAAP
FYE Dec 2018	65.9	−1.2%	Cons. · Japanese GAAP
FYE Dec 2019	311	+371.9%	Cons. · Japanese GAAP
FYE Dec 2020	68.3	−78.0%	Cons. · Japanese GAAP
FYE Dec 2021	124	+81.1%	Cons. · Japanese GAAP
FYE Dec 2022	52.0	−57.9%	Cons. · Japanese GAAP
FYE Dec 2023	107	+105.1%	Cons. · Japanese GAAP
FYE Dec 2024	80.9	−24.2%	Cons. · Japanese GAAP
FYE Dec 2025	65.5	−19.1%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Dec 2025 ¥973bn

CAGR · 10 yrs +7.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Dec 2016	498	n/a	Cons. · Japanese GAAP
FYE Dec 2017	598	+19.9%	Cons. · Japanese GAAP
FYE Dec 2018	594	−0.5%	Cons. · Japanese GAAP
FYE Dec 2019	386	−35.1%	Cons. · Japanese GAAP
FYE Dec 2020	626	+62.2%	Cons. · Japanese GAAP
FYE Dec 2021	576	−8.0%	Cons. · Japanese GAAP
FYE Dec 2022	631	+9.5%	Cons. · Japanese GAAP
FYE Dec 2023	715	+13.4%	Cons. · Japanese GAAP
FYE Dec 2024	799	+11.7%	Cons. · Japanese GAAP
FYE Dec 2025	973	+21.9%	Cons. · Japanese GAAP

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

Bonds

FYE Dec 2025 ¥305bn

CAGR · 10 yrs +11.5%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Dec 2016	115	n/a	Cons. · Japanese GAAP
FYE Dec 2017	145	+26.2%	Cons. · Japanese GAAP
FYE Dec 2018	145	−0.1%	Cons. · Japanese GAAP
FYE Dec 2019	226	+55.7%	Cons. · Japanese GAAP
FYE Dec 2020	205	−9.2%	Cons. · Japanese GAAP
FYE Dec 2021	255	+24.6%	Cons. · Japanese GAAP
FYE Dec 2022	245	−4.1%	Cons. · Japanese GAAP
FYE Dec 2023	265	+8.2%	Cons. · Japanese GAAP
FYE Dec 2024	245	−7.6%	Cons. · Japanese GAAP
FYE Dec 2025	305	+24.7%	Cons. · Japanese GAAP

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

Intangible assets

FYE Dec 2025 ¥137bn

CAGR · 10 yrs +2.2%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Dec 2016	112	n/a	Cons. · Japanese GAAP
FYE Dec 2017	112	−0.2%	Cons. · Japanese GAAP
FYE Dec 2018	110	−1.6%	Cons. · Japanese GAAP
FYE Dec 2019	113	+2.4%	Cons. · Japanese GAAP
FYE Dec 2020	131	+15.5%	Cons. · Japanese GAAP
FYE Dec 2021	131	+0.3%	Cons. · Japanese GAAP
FYE Dec 2022	133	+1.3%	Cons. · Japanese GAAP
FYE Dec 2023	132	−0.8%	Cons. · Japanese GAAP
FYE Dec 2024	137	+4.3%	Cons. · Japanese GAAP
FYE Dec 2025	137	−0.5%	Cons. · Japanese GAAP

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

Goodwill

FYE Dec 2025 ¥11bn

CAGR · 10 yrs +8.2%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Dec 2016	5.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	4.8	−7.8%	Cons. · Japanese GAAP
FYE Dec 2018	3.1	−35.3%	Cons. · Japanese GAAP
FYE Dec 2019	1.2	−62.0%	Cons. · Japanese GAAP
FYE Dec 2020	0.5	−54.2%	Cons. · Japanese GAAP
FYE Dec 2021	1.2	+112.8%	Cons. · Japanese GAAP
FYE Dec 2022	1.7	+47.7%	Cons. · Japanese GAAP
FYE Dec 2023	1.5	−13.4%	Cons. · Japanese GAAP
FYE Dec 2024	11.4	+666.6%	Cons. · Japanese GAAP
FYE Dec 2025	10.7	−6.5%	Cons. · Japanese GAAP

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

Equity ratio

FYE Dec 2025 26.0%

Average · 10 yrs 24.9%

Fiscal year	Equity ratio %	YoY	Basis
FYE Dec 2016	24.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	23.9	−0.2pp	Cons. · Japanese GAAP
FYE Dec 2018	24.0	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2019	24.0	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2020	24.0	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2021	25.3	+1.3pp	Cons. · Japanese GAAP
FYE Dec 2022	25.9	+0.7pp	Cons. · Japanese GAAP
FYE Dec 2023	26.1	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2024	25.8	−0.3pp	Cons. · Japanese GAAP
FYE Dec 2025	26.0	+0.2pp	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 Dec 2025 175.8%

Average · 10 yrs 171.0%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Dec 2016	184.3	n/a	Cons. · Japanese GAAP
FYE Dec 2017	188.3	+3.9pp	Cons. · Japanese GAAP
FYE Dec 2018	189.7	+1.4pp	Cons. · Japanese GAAP
FYE Dec 2019	163.2	−26.5pp	Cons. · Japanese GAAP
FYE Dec 2020	178.3	+15.1pp	Cons. · Japanese GAAP
FYE Dec 2021	158.1	−20.2pp	Cons. · Japanese GAAP
FYE Dec 2022	153.0	−5.1pp	Cons. · Japanese GAAP
FYE Dec 2023	155.4	+2.3pp	Cons. · Japanese GAAP
FYE Dec 2024	164.1	+8.7pp	Cons. · Japanese GAAP
FYE Dec 2025	175.8	+11.7pp	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 Dec 2025 10.0%

Average · 10 yrs 8.6%

Fiscal year	ROE %	YoY	Basis
FYE Dec 2016	6.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	6.6	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2018	7.8	+1.3pp	Cons. · Japanese GAAP
FYE Dec 2019	7.9	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2020	8.2	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2021	8.4	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2022	9.7	+1.3pp	Cons. · Japanese GAAP
FYE Dec 2023	9.1	−0.6pp	Cons. · Japanese GAAP
FYE Dec 2024	12.3	+3.2pp	Cons. · Japanese GAAP
FYE Dec 2025	10.0	−2.3pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Dec 2025 2.6%

Average · 10 yrs 2.2%

Fiscal year	ROA %	YoY	Basis
FYE Dec 2016	1.5	n/a	Cons. · Japanese GAAP
FYE Dec 2017	1.6	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2018	1.9	+0.3pp	Cons. · Japanese GAAP
FYE Dec 2019	1.9	−0.0pp	Cons. · Japanese GAAP
FYE Dec 2020	2.0	+0.1pp	Cons. · Japanese GAAP
FYE Dec 2021	2.1	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2022	2.5	+0.4pp	Cons. · Japanese GAAP
FYE Dec 2023	2.4	−0.1pp	Cons. · Japanese GAAP
FYE Dec 2024	3.2	+0.8pp	Cons. · Japanese GAAP
FYE Dec 2025	2.6	−0.6pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Dec 2025 0.21×

CAGR · 10 yrs +0.8%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Dec 2016	0.19	n/a	Cons. · Japanese GAAP
FYE Dec 2017	0.19	−4.3%	Cons. · Japanese GAAP
FYE Dec 2018	0.19	+1.7%	Cons. · Japanese GAAP
FYE Dec 2019	0.21	+9.6%	Cons. · Japanese GAAP
FYE Dec 2020	0.21	−0.2%	Cons. · Japanese GAAP
FYE Dec 2021	0.21	−0.0%	Cons. · Japanese GAAP
FYE Dec 2022	0.20	−1.4%	Cons. · Japanese GAAP
FYE Dec 2023	0.20	−3.0%	Cons. · Japanese GAAP
FYE Dec 2024	0.22	+12.9%	Cons. · Japanese GAAP
FYE Dec 2025	0.21	−6.3%	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 Dec 2025 ¥32bn

CAGR · 10 yrs −2.1%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Dec 2016	38.8	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-14.2	−136.6%	Cons. · Japanese GAAP
FYE Dec 2018	19.7	n/a	Cons. · Japanese GAAP
FYE Dec 2019	24.1	+22.0%	Cons. · Japanese GAAP
FYE Dec 2020	43.5	+80.6%	Cons. · Japanese GAAP
FYE Dec 2021	65.9	+51.4%	Cons. · Japanese GAAP
FYE Dec 2022	-3.3	−105.1%	Cons. · Japanese GAAP
FYE Dec 2023	20.6	n/a	Cons. · Japanese GAAP
FYE Dec 2024	18.9	−8.2%	Cons. · Japanese GAAP
FYE Dec 2025	32.1	+69.9%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Dec 2025 -¥97bn

Average · 10 yrs -¥63bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	-53.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-64.5	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-63.6	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-64.1	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-66.7	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-1.6	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-21.2	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-54.1	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-142	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-97.4	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 Dec 2025 ¥104bn

CAGR · 10 yrs +31.3%

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Dec 2016	9.0	n/a	Cons. · Japanese GAAP
FYE Dec 2017	78.0	+766.2%	Cons. · Japanese GAAP
FYE Dec 2018	34.4	−55.8%	Cons. · Japanese GAAP
FYE Dec 2019	48.0	+39.4%	Cons. · Japanese GAAP
FYE Dec 2020	38.3	−20.2%	Cons. · Japanese GAAP
FYE Dec 2021	-32.2	−184.0%	Cons. · Japanese GAAP
FYE Dec 2022	18.4	n/a	Cons. · Japanese GAAP
FYE Dec 2023	77.9	+322.9%	Cons. · Japanese GAAP
FYE Dec 2024	106	+35.6%	Cons. · Japanese GAAP
FYE Dec 2025	104	−1.4%	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 Dec 2025 ¥152bn

CAGR · 10 yrs +15.4%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Dec 2016	42.1	n/a	Cons. · Japanese GAAP
FYE Dec 2017	41.2	−2.0%	Cons. · Japanese GAAP
FYE Dec 2018	31.7	−23.1%	Cons. · Japanese GAAP
FYE Dec 2019	39.5	+24.6%	Cons. · Japanese GAAP
FYE Dec 2020	54.6	+38.4%	Cons. · Japanese GAAP
FYE Dec 2021	87.0	+59.2%	Cons. · Japanese GAAP
FYE Dec 2022	82.4	−5.3%	Cons. · Japanese GAAP
FYE Dec 2023	127	+54.4%	Cons. · Japanese GAAP
FYE Dec 2024	111	−12.7%	Cons. · Japanese GAAP
FYE Dec 2025	152	+37.0%	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 Dec 2025 -¥65bn

Average · 10 yrs -¥38bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Dec 2016	-14.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-78.7	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-43.8	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-40.0	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-23.2	n/a	Cons. · Japanese GAAP
FYE Dec 2021	64.2	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-24.5	−138.2%	Cons. · Japanese GAAP
FYE Dec 2023	-33.5	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-123	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-65.3	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 Dec 2025 6.8%

Average · 10 yrs 7.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Dec 2016	15.2	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-5.3	−20.6pp	Cons. · Japanese GAAP
FYE Dec 2018	7.2	+12.5pp	Cons. · Japanese GAAP
FYE Dec 2019	7.5	+0.2pp	Cons. · Japanese GAAP
FYE Dec 2020	13.0	+5.5pp	Cons. · Japanese GAAP
FYE Dec 2021	19.4	+6.4pp	Cons. · Japanese GAAP
FYE Dec 2022	-1.0	−20.3pp	Cons. · Japanese GAAP
FYE Dec 2023	5.5	+6.4pp	Cons. · Japanese GAAP
FYE Dec 2024	4.1	−1.4pp	Cons. · Japanese GAAP
FYE Dec 2025	6.8	+2.7pp	Cons. · Japanese GAAP

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

Net cash

FYE Dec 2025 -¥887bn

Average · 10 yrs -¥647bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Dec 2016	-544	n/a	Cons. · Japanese GAAP
FYE Dec 2017	-608	n/a	Cons. · Japanese GAAP
FYE Dec 2018	-629	n/a	Cons. · Japanese GAAP
FYE Dec 2019	-573	n/a	Cons. · Japanese GAAP
FYE Dec 2020	-640	n/a	Cons. · Japanese GAAP
FYE Dec 2021	-572	n/a	Cons. · Japanese GAAP
FYE Dec 2022	-600	n/a	Cons. · Japanese GAAP
FYE Dec 2023	-645	n/a	Cons. · Japanese GAAP
FYE Dec 2024	-768	n/a	Cons. · Japanese GAAP
FYE Dec 2025	-887	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 Dec 2025 ¥736bn

Change · 10 yrs +¥396bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Dec 2016	340	n/a
FYE Dec 2017	330	n/a
FYE Dec 2018	248	n/a
FYE Dec 2019	372	n/a
FYE Dec 2020	296	n/a
FYE Dec 2021	350	n/a
FYE Dec 2022	336	n/a
FYE Dec 2023	442	n/a
FYE Dec 2024	548	n/a
FYE Dec 2025	736	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 Dec 2025 3,539¥

Change · 10 yrs +1,973¥

Fiscal year	Share price ¥	Basis
FYE Dec 2016	1,565	n/a
FYE Dec 2017	1,521	n/a
FYE Dec 2018	1,145	n/a
FYE Dec 2019	1,713	n/a
FYE Dec 2020	1,415	n/a
FYE Dec 2021	1,674	n/a
FYE Dec 2022	1,608	n/a
FYE Dec 2023	2,115	n/a
FYE Dec 2024	2,619	n/a
FYE Dec 2025	3,539	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 Dec 2025 207,978,574shares

Change · 10 yrs −8,984,800 shares

Fiscal year	Shares outstanding shares	Basis
FYE Dec 2016	216,963,374	Parent
FYE Dec 2017	216,963,374	Parent
FYE Dec 2018	216,963,374	Parent
FYE Dec 2019	216,963,374	Parent
FYE Dec 2020	209,167,674	Parent
FYE Dec 2021	209,167,674	Parent
FYE Dec 2022	209,167,674	Parent
FYE Dec 2023	209,167,674	Parent
FYE Dec 2024	209,167,674	Parent
FYE Dec 2025	207,978,574	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 Dec 2025 283.08¥

Change · 10 yrs +192.08¥

Fiscal year	EPS ¥	Basis
FYE Dec 2016	91.00	Cons.
FYE Dec 2017	104.17	Cons.
FYE Dec 2018	125.79	Cons.
FYE Dec 2019	141.59	Cons.
FYE Dec 2020	152.12	Cons.
FYE Dec 2021	167.35	Cons.
FYE Dec 2022	206.15	Cons.
FYE Dec 2023	215.82	Cons.
FYE Dec 2024	315.50	Cons.
FYE Dec 2025	283.08	Cons.

Definition: Net profit for each share
Formula: Net profit ÷ average shares outstanding
Source: Securities report (XBRL)

BPS book value per share

FYE Dec 2025 2,841.75¥

Change · 10 yrs +1,376.59¥

Fiscal year	BPS ¥	Basis
FYE Dec 2016	1,465.17	Cons. · Japanese GAAP
FYE Dec 2017	1,589.82	Cons. · Japanese GAAP
FYE Dec 2018	1,604.56	Cons. · Japanese GAAP
FYE Dec 2019	1,728.44	Cons. · Japanese GAAP
FYE Dec 2020	1,861.49	Cons. · Japanese GAAP
FYE Dec 2021	1,993.88	Cons. · Japanese GAAP
FYE Dec 2022	2,132.24	Cons. · Japanese GAAP
FYE Dec 2023	2,375.61	Cons. · Japanese GAAP
FYE Dec 2024	2,562.85	Cons. · Japanese GAAP
FYE Dec 2025	2,841.75	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Dec 2025 12.50×

Average · 10 yrs 11.07×

Fiscal year	PER ×	Basis
FYE Dec 2016	17.20	Cons.
FYE Dec 2017	14.60	Cons.
FYE Dec 2018	9.10	Cons.
FYE Dec 2019	12.10	Cons.
FYE Dec 2020	9.30	Cons.
FYE Dec 2021	10.00	Cons.
FYE Dec 2022	7.80	Cons.
FYE Dec 2023	9.80	Cons.
FYE Dec 2024	8.30	Cons.
FYE Dec 2025	12.50	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 Dec 2025 1.24×

Average · 10 yrs 0.92×

Fiscal year	PBR ×	Basis
FYE Dec 2016	1.07	Cons.
FYE Dec 2017	0.96	Cons.
FYE Dec 2018	0.71	Cons.
FYE Dec 2019	0.95	Cons.
FYE Dec 2020	0.76	Cons.
FYE Dec 2021	0.84	Cons.
FYE Dec 2022	0.75	Cons.
FYE Dec 2023	0.89	Cons.
FYE Dec 2024	1.02	Cons.
FYE Dec 2025	1.24	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 Dec 2025 5,035people

Change · 10 yrs +1,469 people

Fiscal year	Group employees people	YoY	Basis
FYE Dec 2016	3,566	n/a	Cons.
FYE Dec 2017	4,813	+35.0%	Cons.
FYE Dec 2018	5,010	+4.1%	Cons.
FYE Dec 2019	5,396	+7.7%	Cons.
FYE Dec 2020	5,344	−1.0%	Cons.
FYE Dec 2021	5,648	+5.7%	Cons.
FYE Dec 2022	5,878	+4.1%	Cons.
FYE Dec 2023	4,661	−20.7%	Cons.
FYE Dec 2024	4,925	+5.7%	Cons.
FYE Dec 2025	5,035	+2.2%	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 Dec 2025 836people

Change · 10 yrs +262 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Dec 2016	574	n/a	Parent
FYE Dec 2017	587	+2.3%	Parent
FYE Dec 2018	616	+4.9%	Parent
FYE Dec 2019	655	+6.3%	Parent
FYE Dec 2020	677	+3.4%	Parent
FYE Dec 2021	725	+7.1%	Parent
FYE Dec 2022	760	+4.8%	Parent
FYE Dec 2023	807	+6.2%	Parent
FYE Dec 2024	830	+2.9%	Parent
FYE Dec 2025	836	+0.7%	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 Dec 2025 ¥11.9m

Change · 10 yrs +¥2.3m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Dec 2016	9.6	n/a	Parent
FYE Dec 2017	9.2	−4.0%	Parent
FYE Dec 2018	9.6	+4.5%	Parent
FYE Dec 2019	9.4	−1.9%	Parent
FYE Dec 2020	10.2	+8.3%	Parent
FYE Dec 2021	10.1	−1.0%	Parent
FYE Dec 2022	10.1	+0.1%	Parent
FYE Dec 2023	10.2	+1.4%	Parent
FYE Dec 2024	11.1	+8.5%	Parent
FYE Dec 2025	11.9	+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 Dec 2025 41.0years

Change · 7 yrs −1.3 years

Fiscal year	Average age years	YoY	Basis
FYE Dec 2016	n/a	n/a	Parent
FYE Dec 2017	n/a	n/a	Parent
FYE Dec 2018	n/a	n/a	Parent
FYE Dec 2019	42.3	n/a	Parent
FYE Dec 2020	42.6	+0.7%	Parent
FYE Dec 2021	42.0	−1.4%	Parent
FYE Dec 2022	42.0	−0.0%	Parent
FYE Dec 2023	41.0	−2.4%	Parent
FYE Dec 2024	41.0	−0.0%	Parent
FYE Dec 2025	41.0	−0.0%	Parent

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

Average length of service

FYE Dec 2025 11.0years

Change · 10 yrs +0.5 years

Fiscal year	Average length of service years	YoY	Basis
FYE Dec 2016	10.5	n/a	Parent
FYE Dec 2017	10.6	+1.0%	Parent
FYE Dec 2018	10.8	+1.9%	Parent
FYE Dec 2019	11.3	+4.6%	Parent
FYE Dec 2020	11.7	+3.5%	Parent
FYE Dec 2021	11.0	−6.0%	Parent
FYE Dec 2022	11.0	−0.0%	Parent
FYE Dec 2023	11.0	−0.0%	Parent
FYE Dec 2024	11.0	−0.0%	Parent
FYE Dec 2025	11.0	−0.0%	Parent

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

Temporary employees

FYE Dec 2025 4,538people

Change · 10 yrs +1,623 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Dec 2016	2,915	n/a	n/a
FYE Dec 2017	5,438	+86.6%	n/a
FYE Dec 2018	5,533	+1.7%	n/a
FYE Dec 2019	5,440	−1.7%	n/a
FYE Dec 2020	5,070	−6.8%	n/a
FYE Dec 2021	4,782	−5.7%	n/a
FYE Dec 2022	4,687	−2.0%	n/a
FYE Dec 2023	4,525	−3.5%	n/a
FYE Dec 2024	4,505	−0.4%	n/a
FYE Dec 2025	4,538	+0.7%	n/a

Definition: Average number of temporary and part-time staff over the year
Formula: Average temporary headcount, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Dec 2025 ¥94.3m

Change · 10 yrs +¥22.9m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Dec 2016	71.4	n/a	Cons.
FYE Dec 2017	55.5	−22.3%	Cons.
FYE Dec 2018	54.6	−1.7%	Cons.
FYE Dec 2019	59.9	+9.7%	Cons.
FYE Dec 2020	62.7	+4.7%	Cons.
FYE Dec 2021	60.3	−3.8%	Cons.
FYE Dec 2022	59.5	−1.2%	Cons.
FYE Dec 2023	80.7	+35.5%	Cons.
FYE Dec 2024	94.2	+16.7%	Cons.
FYE Dec 2025	94.3	+0.1%	Cons.

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

Operating profit per employee

FYE Dec 2025 ¥19.0m

Change · 10 yrs +¥8.8m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Dec 2016	10.2	n/a	Cons.
FYE Dec 2017	9.3	−8.8%	Cons.
FYE Dec 2018	9.3	+0.4%	Cons.
FYE Dec 2019	9.7	+4.1%	Cons.
FYE Dec 2020	9.3	−4.4%	Cons.
FYE Dec 2021	10.4	+12.1%	Cons.
FYE Dec 2022	11.0	+5.4%	Cons.
FYE Dec 2023	15.1	+37.9%	Cons.
FYE Dec 2024	16.2	+6.9%	Cons.
FYE Dec 2025	19.0	+17.6%	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 →

Data API

Tokyo Tatemono’s history, presidents and financials are published as static JSON — no key, plain GET. One API per public page, and one per section where a page carries several tables. Full specification →

/api/8804/company.json ·/api/8804/history.json ·/api/8804/ceo.json ·/api/8804/financials.json ·/api/8804/financials/segment.json ·/api/8804/financials/pl.json ·/api/8804/financials/cf.json ·/api/8804/financials/bs.json ·/api/8804/financials/employee.json ·/api/8804/financials/stock.json ·/api/8804/financials.csv ·/api/8804/financials_history.csv

/api/companies.json ·/api/decisions.json ·/api/api-manifest.json