Financials

Leopalace21: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥445bnYoY +3.0%

FYE Mar 2026 · Operating profit¥36bnYoY +23.0%

FYE Mar 2026 · Net profit¥15bnYoY −16.4%

FYE Mar 2026 · Equity ratio23.0%YoY −14.7pp

FYE Mar 2026 · Group employees4,150YoY +241

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥520bn	n/a	¥23bn	n/a	4.4%	¥20bn	Miyama Eisei	—
FYE Mar 2018Consolidated	¥531bn	+2.0%	¥23bn	+0.1%	4.3%	¥15bn	Miyama Eisei	—
FYE Mar 2019Consolidated	¥505bn	−4.8%	¥7.4bn	−67.8%	1.5%	-¥69bn	Miyama Eisei	<em>Gaia no Yoake</em> reports missing party walls
FYE Mar 2020Consolidated	¥434bn	−14.2%	-¥36bn	−593.5%	-8.4%	-¥80bn	Miyama Eisei	Investigation committee blames the founder; family rule ends
FYE Mar 2021Consolidated	¥409bn	−5.7%	-¥29bn	n/a	-7.1%	-¥24bn	Miyao Fumiya	Record ¥80.2bn net loss
FYE Mar 2022Consolidated	¥398bn	−2.6%	¥1.8bn	n/a	0.4%	¥12bn	Miyao Fumiya	—
FYE Mar 2023Consolidated	¥406bn	+2.0%	¥9.9bn	+456.9%	2.4%	¥20bn	Miyao Fumiya	Back to profit; negative equity cleared in one year
FYE Mar 2024Consolidated	¥423bn	+4.0%	¥23bn	+136.0%	5.5%	¥42bn	Miyao Fumiya	—
FYE Mar 2025Consolidated	¥432bn	+2.2%	¥29bn	+25.4%	6.8%	¥18bn	Miyao Fumiya	—
FYE Mar 2026Consolidated	¥445bn	+3.0%	¥36bn	+23.0%	8.1%	¥15bn	Miyao Fumiya	<em>New Growth 2028</em> — stock revenue and a 30% payout

How it compares

Daito Trust Construction¥1.98tnFY2025Operating margin 6.8%

Leopalace21¥445bnFY2025Operating margin 8.1%

Toukenkoporeshon¥367bnFY2025Operating margin 6.1%

Starts Corporation¥252bnFY2025Operating margin 14.4%Relo Group¥151bnFY2025Operating margin 20.4%

Ichigo¥84bnFY2024Operating margin 19.5%

Jeiesubi¥76bnFY2025Operating margin 10.1%

Tikepi¥59bnFY2024Operating margin 10.0%

Rodosutakyapitaru¥45bnFY2025Operating margin 30.1%

Eriarinku¥26bnFY2025Operating margin 20.7%

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 ¥445bn

CAGR · 10 yrs −1.7%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	520	n/a	Cons. · Japanese GAAP
FYE Mar 2018	531	+2.0%	Cons. · Japanese GAAP
FYE Mar 2019	505	−4.8%	Cons. · Japanese GAAP
FYE Mar 2020	434	−14.2%	Cons. · Japanese GAAP
FYE Mar 2021	409	−5.7%	Cons. · Japanese GAAP
FYE Mar 2022	398	−2.6%	Cons. · Japanese GAAP
FYE Mar 2023	406	+2.0%	Cons. · Japanese GAAP
FYE Mar 2024	423	+4.0%	Cons. · Japanese GAAP
FYE Mar 2025	432	+2.2%	Cons. · Japanese GAAP
FYE Mar 2026	445	+3.0%	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 ¥356bn

CAGR · 10 yrs −2.0%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	428	n/a	Cons. · Japanese GAAP
FYE Mar 2018	435	+1.6%	Cons. · Japanese GAAP
FYE Mar 2019	429	−1.3%	Cons. · Japanese GAAP
FYE Mar 2020	408	−4.9%	Cons. · Japanese GAAP
FYE Mar 2021	388	−5.0%	Cons. · Japanese GAAP
FYE Mar 2022	352	−9.2%	Cons. · Japanese GAAP
FYE Mar 2023	353	+0.2%	Cons. · Japanese GAAP
FYE Mar 2024	354	+0.2%	Cons. · Japanese GAAP
FYE Mar 2025	355	+0.2%	Cons. · Japanese GAAP
FYE Mar 2026	356	+0.3%	Cons. · Japanese GAAP

Definition: The cost of what was sold
Formula: Cost of sales line of the income statement
Source: Securities report (XBRL)

Gross profit

FYE Mar 2026 ¥89bn

CAGR · 10 yrs −0.4%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	92.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	96.1	+3.7%	Cons. · Japanese GAAP
FYE Mar 2019	76.2	−20.7%	Cons. · Japanese GAAP
FYE Mar 2020	25.4	−66.6%	Cons. · Japanese GAAP
FYE Mar 2021	21.1	−17.1%	Cons. · Japanese GAAP
FYE Mar 2022	46.1	+118.5%	Cons. · Japanese GAAP
FYE Mar 2023	53.3	+15.6%	Cons. · Japanese GAAP
FYE Mar 2024	68.8	+29.2%	Cons. · Japanese GAAP
FYE Mar 2025	77.3	+12.3%	Cons. · Japanese GAAP
FYE Mar 2026	89.2	+15.4%	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 Mar 2026 ¥53bn

CAGR · 10 yrs −3.0%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	69.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	73.1	+4.8%	Cons. · Japanese GAAP
FYE Mar 2019	68.8	−5.9%	Cons. · Japanese GAAP
FYE Mar 2020	61.9	−10.1%	Cons. · Japanese GAAP
FYE Mar 2021	50.3	−18.8%	Cons. · Japanese GAAP
FYE Mar 2022	44.3	−11.9%	Cons. · Japanese GAAP
FYE Mar 2023	43.4	−2.0%	Cons. · Japanese GAAP
FYE Mar 2024	45.5	+4.9%	Cons. · Japanese GAAP
FYE Mar 2025	48.1	+5.6%	Cons. · Japanese GAAP
FYE Mar 2026	53.2	+10.8%	Cons. · Japanese GAAP

Definition: The cost of selling and of running the company
Formula: SG&A line of the income statement
Source: Securities report (XBRL)

Operating profit

FYE Mar 2026 ¥36bn

CAGR · 10 yrs +5.1%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	22.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.9	+0.1%	Cons. · Japanese GAAP
FYE Mar 2019	7.4	−67.8%	Cons. · Japanese GAAP
FYE Mar 2020	-36.5	−593.5%	Cons. · Japanese GAAP
FYE Mar 2021	-29.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	9.9	+456.9%	Cons. · Japanese GAAP
FYE Mar 2024	23.3	+136.0%	Cons. · Japanese GAAP
FYE Mar 2025	29.2	+25.4%	Cons. · Japanese GAAP
FYE Mar 2026	36.0	+23.0%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥1.3bn

CAGR · 10 yrs +9.2%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.7	+17.8%	Cons. · Japanese GAAP
FYE Mar 2019	0.9	+32.2%	Cons. · Japanese GAAP
FYE Mar 2020	1.8	+100.7%	Cons. · Japanese GAAP
FYE Mar 2021	1.1	−39.4%	Cons. · Japanese GAAP
FYE Mar 2022	0.8	−23.7%	Cons. · Japanese GAAP
FYE Mar 2023	1.2	+46.3%	Cons. · Japanese GAAP
FYE Mar 2024	1.4	+11.7%	Cons. · Japanese GAAP
FYE Mar 2025	0.6	−57.2%	Cons. · Japanese GAAP
FYE Mar 2026	1.3	+118.0%	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 ¥2.4bn

CAGR · 10 yrs +8.8%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.3	+12.1%	Cons. · Japanese GAAP
FYE Mar 2019	1.2	−2.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.7	+36.0%	Cons. · Japanese GAAP
FYE Mar 2021	6.1	+266.7%	Cons. · Japanese GAAP
FYE Mar 2022	4.8	−21.7%	Cons. · Japanese GAAP
FYE Mar 2023	4.6	−4.0%	Cons. · Japanese GAAP
FYE Mar 2024	5.2	+13.7%	Cons. · Japanese GAAP
FYE Mar 2025	2.9	−44.6%	Cons. · Japanese GAAP
FYE Mar 2026	2.4	−17.1%	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 ¥35bn

CAGR · 10 yrs +5.1%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	22.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.4	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	7.1	−68.4%	Cons. · Japanese GAAP
FYE Mar 2020	-36.3	−614.5%	Cons. · Japanese GAAP
FYE Mar 2021	-34.2	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	6.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	19.5	+198.4%	Cons. · Japanese GAAP
FYE Mar 2025	26.9	+38.3%	Cons. · Japanese GAAP
FYE Mar 2026	34.8	+29.4%	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 ¥0.3bn

CAGR · 10 yrs −5.3%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.9	+127.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.2	−73.6%	Cons. · Japanese GAAP
FYE Mar 2020	11.7	+4667.8%	Cons. · Japanese GAAP
FYE Mar 2021	19.7	+68.3%	Cons. · Japanese GAAP
FYE Mar 2022	12.1	−38.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.1	−99.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.6	+744.0%	Cons. · Japanese GAAP
FYE Mar 2025	1.5	+130.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.3	−82.8%	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 Mar 2026 ¥15bn

CAGR · 10 yrs −3.4%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	20.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.8	−27.4%	Cons. · Japanese GAAP
FYE Mar 2019	-68.7	−563.3%	Cons. · Japanese GAAP
FYE Mar 2020	-80.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-23.7	n/a	Cons. · Japanese GAAP
FYE Mar 2022	11.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	19.8	+67.1%	Cons. · Japanese GAAP
FYE Mar 2024	42.1	+112.3%	Cons. · Japanese GAAP
FYE Mar 2025	17.9	−57.5%	Cons. · Japanese GAAP
FYE Mar 2026	14.9	−16.4%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 20.1%

Average · 10 yrs 14.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	17.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	15.1	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2020	5.9	−9.2pp	Cons. · Japanese GAAP
FYE Mar 2021	5.2	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	11.6	+6.4pp	Cons. · Japanese GAAP
FYE Mar 2023	13.1	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	16.3	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	17.9	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	20.1	+2.2pp	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 8.1%

Average · 10 yrs 1.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	4.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	1.5	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2020	-8.4	−9.9pp	Cons. · Japanese GAAP
FYE Mar 2021	-7.1	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	0.4	+7.6pp	Cons. · Japanese GAAP
FYE Mar 2023	2.4	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2024	5.5	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2025	6.8	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	8.1	+1.3pp	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 7.8%

Average · 10 yrs 1.3%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	4.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	1.4	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2020	-8.4	−9.8pp	Cons. · Japanese GAAP
FYE Mar 2021	-8.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	-0.5	+7.8pp	Cons. · Japanese GAAP
FYE Mar 2023	1.6	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	4.6	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2025	6.2	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	7.8	+1.6pp	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 3.4%

Average · 10 yrs -0.6%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.8	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	-13.6	−16.4pp	Cons. · Japanese GAAP
FYE Mar 2020	-18.5	−4.9pp	Cons. · Japanese GAAP
FYE Mar 2021	-5.8	+12.7pp	Cons. · Japanese GAAP
FYE Mar 2022	3.0	+8.8pp	Cons. · Japanese GAAP
FYE Mar 2023	4.9	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	10.0	+5.1pp	Cons. · Japanese GAAP
FYE Mar 2025	4.1	−5.8pp	Cons. · Japanese GAAP
FYE Mar 2026	3.4	−0.8pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 79.9%

Average · 10 yrs 85.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	82.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	81.9	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	84.9	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2020	94.1	+9.2pp	Cons. · Japanese GAAP
FYE Mar 2021	94.8	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	88.4	−6.4pp	Cons. · Japanese GAAP
FYE Mar 2023	86.9	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	83.7	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	82.1	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	79.9	−2.2pp	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 12.0%

Average · 10 yrs 12.3%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	13.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	13.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	14.3	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	12.3	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2022	11.1	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	10.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	10.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	11.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	12.0	+0.8pp	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 ¥177bn

CAGR · 10 yrs −7.0%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	338	n/a	Cons. · Japanese GAAP
FYE Mar 2018	337	−0.2%	Cons. · Japanese GAAP
FYE Mar 2019	292	−13.4%	Cons. · Japanese GAAP
FYE Mar 2020	197	−32.5%	Cons. · Japanese GAAP
FYE Mar 2021	162	−17.9%	Cons. · Japanese GAAP
FYE Mar 2022	145	−10.1%	Cons. · Japanese GAAP
FYE Mar 2023	167	+14.5%	Cons. · Japanese GAAP
FYE Mar 2024	205	+23.1%	Cons. · Japanese GAAP
FYE Mar 2025	217	+5.7%	Cons. · Japanese GAAP
FYE Mar 2026	177	−18.5%	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 ¥41bn

CAGR · 10 yrs −14.0%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	159	n/a	Cons. · Japanese GAAP
FYE Mar 2018	159	+0.3%	Cons. · Japanese GAAP
FYE Mar 2019	81.3	−49.0%	Cons. · Japanese GAAP
FYE Mar 2020	1.6	−98.1%	Cons. · Japanese GAAP
FYE Mar 2021	-8.1	−615.3%	Cons. · Japanese GAAP
FYE Mar 2022	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	24.4	+1611.1%	Cons. · Japanese GAAP
FYE Mar 2024	64.1	+162.9%	Cons. · Japanese GAAP
FYE Mar 2025	81.7	+27.3%	Cons. · Japanese GAAP
FYE Mar 2026	40.7	−50.2%	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 ¥30bn

CAGR · 10 yrs +8.4%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	14.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.9	+22.9%	Cons. · Japanese GAAP
FYE Mar 2019	19.4	+8.6%	Cons. · Japanese GAAP
FYE Mar 2020	16.5	−14.9%	Cons. · Japanese GAAP
FYE Mar 2021	30.7	+86.3%	Cons. · Japanese GAAP
FYE Mar 2022	30.5	−0.8%	Cons. · Japanese GAAP
FYE Mar 2023	30.4	−0.2%	Cons. · Japanese GAAP
FYE Mar 2024	29.8	−1.9%	Cons. · Japanese GAAP
FYE Mar 2025	30.0	+0.5%	Cons. · Japanese GAAP
FYE Mar 2026	30.0	−0.0%	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 n/a

CAGR · 9 yrs +48.6%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.2	−4.2%	Cons. · Japanese GAAP
FYE Mar 2019	1.1	−11.6%	Cons. · Japanese GAAP
FYE Mar 2020	0.8	−20.8%	Cons. · Japanese GAAP
FYE Mar 2021	0.1	−86.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.1	−53.5%	Cons. · Japanese GAAP
FYE Mar 2023	0.1	+11.3%	Cons. · Japanese GAAP
FYE Mar 2024	0.6	+950.8%	Cons. · Japanese GAAP
FYE Mar 2025	30.0	+4738.7%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	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 ¥30bn

CAGR · 9 yrs +10.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	13.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.6	+25.4%	Cons. · Japanese GAAP
FYE Mar 2019	18.3	+10.1%	Cons. · Japanese GAAP
FYE Mar 2020	15.7	−14.6%	Cons. · Japanese GAAP
FYE Mar 2021	30.6	+95.6%	Cons. · Japanese GAAP
FYE Mar 2022	30.4	−0.6%	Cons. · Japanese GAAP
FYE Mar 2023	30.4	−0.2%	Cons. · Japanese GAAP
FYE Mar 2024	29.2	−3.7%	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	30.0	n/a	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 ¥0.9bn

CAGR · 10 yrs −24.5%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	11.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.0	−5.6%	Cons. · Japanese GAAP
FYE Mar 2019	9.6	−12.9%	Cons. · Japanese GAAP
FYE Mar 2020	5.5	−42.5%	Cons. · Japanese GAAP
FYE Mar 2021	4.2	−24.2%	Cons. · Japanese GAAP
FYE Mar 2022	3.1	−24.9%	Cons. · Japanese GAAP
FYE Mar 2023	2.6	−16.7%	Cons. · Japanese GAAP
FYE Mar 2024	1.4	−48.0%	Cons. · Japanese GAAP
FYE Mar 2025	1.0	−26.2%	Cons. · Japanese GAAP
FYE Mar 2026	0.9	−7.9%	Cons. · Japanese GAAP

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

Goodwill

FYE Mar 2026 n/a

CAGR · 6 yrs −71.5%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.9	−9.3%	Cons. · Japanese GAAP
FYE Mar 2019	2.3	−19.5%	Cons. · Japanese GAAP
FYE Mar 2020	0.1	−94.5%	Cons. · Japanese GAAP
FYE Mar 2021	0.0	−90.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−50.0%	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	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 Mar 2026 23.0%

Average · 10 yrs 22.6%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	47.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	47.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	27.9	−19.4pp	Cons. · Japanese GAAP
FYE Mar 2020	0.8	−27.1pp	Cons. · Japanese GAAP
FYE Mar 2021	-5.0	−5.8pp	Cons. · Japanese GAAP
FYE Mar 2022	1.0	+6.0pp	Cons. · Japanese GAAP
FYE Mar 2023	14.7	+13.7pp	Cons. · Japanese GAAP
FYE Mar 2024	31.3	+16.6pp	Cons. · Japanese GAAP
FYE Mar 2025	37.7	+6.4pp	Cons. · Japanese GAAP
FYE Mar 2026	23.0	−14.7pp	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 73.7%

Average · 10 yrs 313.3%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	9.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.2	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2019	23.8	+12.6pp	Cons. · Japanese GAAP
FYE Mar 2020	1,048.8	+1024.9pp	Cons. · Japanese GAAP
FYE Mar 2021	-379.1	−1427.8pp	Cons. · Japanese GAAP
FYE Mar 2022	2,137.6	+2516.7pp	Cons. · Japanese GAAP
FYE Mar 2023	124.7	−2012.9pp	Cons. · Japanese GAAP
FYE Mar 2024	46.5	−78.1pp	Cons. · Japanese GAAP
FYE Mar 2025	36.7	−9.8pp	Cons. · Japanese GAAP
FYE Mar 2026	73.7	+37.0pp	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 36.7%

Average · 10 yrs -383.4%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	12.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.3	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2019	-84.4	−93.7pp	Cons. · Japanese GAAP
FYE Mar 2020	-5,100.1	−5015.6pp	Cons. · Japanese GAAP
FYE Mar 2021	292.1	+5392.2pp	Cons. · Japanese GAAP
FYE Mar 2022	831.3	+539.1pp	Cons. · Japanese GAAP
FYE Mar 2023	81.2	−750.1pp	Cons. · Japanese GAAP
FYE Mar 2024	65.6	−15.6pp	Cons. · Japanese GAAP
FYE Mar 2025	21.9	−43.7pp	Cons. · Japanese GAAP
FYE Mar 2026	36.7	+14.8pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 8.5%

Average · 10 yrs -1.1%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.4	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	-23.5	−27.9pp	Cons. · Japanese GAAP
FYE Mar 2020	-40.7	−17.2pp	Cons. · Japanese GAAP
FYE Mar 2021	-14.6	+26.1pp	Cons. · Japanese GAAP
FYE Mar 2022	8.2	+22.8pp	Cons. · Japanese GAAP
FYE Mar 2023	11.9	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2024	20.5	+8.6pp	Cons. · Japanese GAAP
FYE Mar 2025	8.2	−12.3pp	Cons. · Japanese GAAP
FYE Mar 2026	8.5	+0.2pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 2.52×

CAGR · 10 yrs +5.6%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.54	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.57	+2.2%	Cons. · Japanese GAAP
FYE Mar 2019	1.73	+10.0%	Cons. · Japanese GAAP
FYE Mar 2020	2.20	+27.1%	Cons. · Japanese GAAP
FYE Mar 2021	2.53	+14.9%	Cons. · Japanese GAAP
FYE Mar 2022	2.74	+8.3%	Cons. · Japanese GAAP
FYE Mar 2023	2.44	−10.9%	Cons. · Japanese GAAP
FYE Mar 2024	2.06	−15.5%	Cons. · Japanese GAAP
FYE Mar 2025	1.99	−3.3%	Cons. · Japanese GAAP
FYE Mar 2026	2.52	+26.4%	Cons. · Japanese GAAP

Definition: How much revenue each yen of assets produces
Formula: Revenue ÷ total assets
Source: Securities report (XBRL)

Cash flow statement Cash from operations, investment and financing, and what is left on hand

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥38bn

CAGR · 10 yrs +3.8%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	27.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.3	−0.6%	Cons. · Japanese GAAP
FYE Mar 2019	-7.2	−126.4%	Cons. · Japanese GAAP
FYE Mar 2020	-51.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-40.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	21.4	+103.1%	Cons. · Japanese GAAP
FYE Mar 2025	25.9	+20.9%	Cons. · Japanese GAAP
FYE Mar 2026	38.5	+48.5%	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 -¥0.8bn

Average · 10 yrs ¥4.9bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-8.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	39.5	+435.8%	Cons. · Japanese GAAP
FYE Mar 2021	11.8	−70.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.9	−92.5%	Cons. · Japanese GAAP
FYE Mar 2023	0.9	+2.3%	Cons. · Japanese GAAP
FYE Mar 2024	0.9	−6.1%	Cons. · Japanese GAAP
FYE Mar 2025	-0.6	−171.0%	Cons. · Japanese GAAP
FYE Mar 2026	-0.8	n/a	Cons. · Japanese GAAP

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

Financing cash flow

FYE Mar 2026 -¥69bn

Average · 10 yrs -¥13bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-14.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-18.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-15.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-12.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	23.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-5.9	−125.0%	Cons. · Japanese GAAP
FYE Mar 2023	-2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-6.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-68.8	n/a	Cons. · Japanese GAAP

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

Cash and equivalents

FYE Mar 2026 ¥56bn

CAGR · 10 yrs −5.4%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	91.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	98.2	+7.1%	Cons. · Japanese GAAP
FYE Mar 2019	83.0	−15.5%	Cons. · Japanese GAAP
FYE Mar 2020	58.9	−29.0%	Cons. · Japanese GAAP
FYE Mar 2021	53.3	−9.5%	Cons. · Japanese GAAP
FYE Mar 2022	44.0	−17.5%	Cons. · Japanese GAAP
FYE Mar 2023	52.9	+20.1%	Cons. · Japanese GAAP
FYE Mar 2024	68.1	+28.9%	Cons. · Japanese GAAP
FYE Mar 2025	87.1	+27.8%	Cons. · Japanese GAAP
FYE Mar 2026	55.9	−35.8%	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 ¥38bn

CAGR · 10 yrs +8.0%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	18.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.0	+32.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.2	−99.3%	Cons. · Japanese GAAP
FYE Mar 2020	-12.1	−7349.1%	Cons. · Japanese GAAP
FYE Mar 2021	-29.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2023	11.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	22.3	+94.5%	Cons. · Japanese GAAP
FYE Mar 2025	25.3	+13.6%	Cons. · Japanese GAAP
FYE Mar 2026	37.7	+48.9%	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 8.6%

Average · 10 yrs 0.8%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	-1.4	−6.6pp	Cons. · Japanese GAAP
FYE Mar 2020	-11.9	−10.5pp	Cons. · Japanese GAAP
FYE Mar 2021	-10.0	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	-1.1	+8.9pp	Cons. · Japanese GAAP
FYE Mar 2023	2.6	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2024	5.1	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2025	6.0	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	8.6	+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 Mar 2026 ¥26bn

CAGR · 10 yrs −11.4%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	77.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	80.4	+4.1%	Cons. · Japanese GAAP
FYE Mar 2019	63.6	−20.9%	Cons. · Japanese GAAP
FYE Mar 2020	42.4	−33.3%	Cons. · Japanese GAAP
FYE Mar 2021	22.6	−46.7%	Cons. · Japanese GAAP
FYE Mar 2022	13.5	−40.1%	Cons. · Japanese GAAP
FYE Mar 2023	22.4	+65.7%	Cons. · Japanese GAAP
FYE Mar 2024	38.3	+70.7%	Cons. · Japanese GAAP
FYE Mar 2025	57.1	+49.0%	Cons. · Japanese GAAP
FYE Mar 2026	25.9	−54.6%	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 ¥212bn

Change · 10 yrs +¥59bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	154	n/a
FYE Mar 2018	224	n/a
FYE Mar 2019	53.9	n/a
FYE Mar 2020	65.2	n/a
FYE Mar 2021	50.3	n/a
FYE Mar 2022	66.5	n/a
FYE Mar 2023	118	n/a
FYE Mar 2024	170	n/a
FYE Mar 2025	192	n/a
FYE Mar 2026	212	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 635¥

Change · 10 yrs +60¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	575	n/a
FYE Mar 2018	887	n/a
FYE Mar 2019	220	n/a
FYE Mar 2020	266	n/a
FYE Mar 2021	153	n/a
FYE Mar 2022	202	n/a
FYE Mar 2023	357	n/a
FYE Mar 2024	517	n/a
FYE Mar 2025	584	n/a
FYE Mar 2026	635	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 334,415,000shares

Change · 10 yrs +66,972,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	267,443,000	Parent
FYE Mar 2018	252,682,000	Parent
FYE Mar 2019	244,882,000	Parent
FYE Mar 2020	244,882,000	Parent
FYE Mar 2021	329,389,000	Parent
FYE Mar 2022	329,389,000	Parent
FYE Mar 2023	329,389,000	Parent
FYE Mar 2024	329,389,000	Parent
FYE Mar 2025	329,389,000	Parent
FYE Mar 2026	334,415,000	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 45.14¥

Change · 10 yrs −32.47¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	77.61	Cons.
FYE Mar 2018	58.02	Cons.
FYE Mar 2019	-278.58	Cons.
FYE Mar 2020	-328.77	Cons.
FYE Mar 2021	-84.88	Cons.
FYE Mar 2022	36.04	Cons.
FYE Mar 2023	60.22	Cons.
FYE Mar 2024	130.91	Cons.
FYE Mar 2025	56.22	Cons.
FYE Mar 2026	45.14	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 121.65¥

Change · 10 yrs −472.31¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	593.96	Cons. · Japanese GAAP
FYE Mar 2018	630.55	Cons. · Japanese GAAP
FYE Mar 2019	332.08	Cons. · Japanese GAAP
FYE Mar 2020	6.42	Cons. · Japanese GAAP
FYE Mar 2021	-24.61	Cons. · Japanese GAAP
FYE Mar 2022	4.33	Cons. · Japanese GAAP
FYE Mar 2023	74.08	Cons. · Japanese GAAP
FYE Mar 2024	194.75	Cons. · Japanese GAAP
FYE Mar 2025	247.92	Cons. · Japanese GAAP
FYE Mar 2026	121.65	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 14.07×

Average · 10 yrs 5.92×

Fiscal year	PER ×	Basis
FYE Mar 2017	7.41	Cons.
FYE Mar 2018	15.29	Cons.
FYE Mar 2019	-0.79	Cons.
FYE Mar 2020	-0.81	Cons.
FYE Mar 2021	-1.80	Cons.
FYE Mar 2022	5.60	Cons.
FYE Mar 2023	5.93	Cons.
FYE Mar 2024	3.95	Cons.
FYE Mar 2025	10.39	Cons.
FYE Mar 2026	14.07	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 4.96×

Average · 9 yrs 14.41×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.95	Cons.
FYE Mar 2018	1.41	Cons.
FYE Mar 2019	0.66	Cons.
FYE Mar 2020	49.87	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	62.10	Cons.
FYE Mar 2023	4.87	Cons.
FYE Mar 2024	2.57	Cons.
FYE Mar 2025	2.28	Cons.
FYE Mar 2026	4.96	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 4,150people

Change · 10 yrs −3,545 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	7,695	n/a	Cons.
FYE Mar 2018	7,690	−0.1%	Cons.
FYE Mar 2019	7,600	−1.2%	Cons.
FYE Mar 2020	7,043	−7.3%	Cons.
FYE Mar 2021	5,082	−27.8%	Cons.
FYE Mar 2022	4,356	−14.3%	Cons.
FYE Mar 2023	3,991	−8.4%	Cons.
FYE Mar 2024	3,853	−3.5%	Cons.
FYE Mar 2025	3,909	+1.5%	Cons.
FYE Mar 2026	4,150	+6.2%	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 Mar 2026 2,952people

Change · 10 yrs −3,590 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	6,542	n/a	Parent
FYE Mar 2018	6,494	−0.7%	Parent
FYE Mar 2019	6,331	−2.5%	Parent
FYE Mar 2020	5,820	−8.1%	Parent
FYE Mar 2021	4,172	−28.3%	Parent
FYE Mar 2022	3,589	−14.0%	Parent
FYE Mar 2023	2,804	−21.9%	Parent
FYE Mar 2024	2,690	−4.1%	Parent
FYE Mar 2025	2,723	+1.2%	Parent
FYE Mar 2026	2,952	+8.4%	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 650万円

Change · 8 yrs +92万円

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	558	n/a	Parent
FYE Mar 2020	504	−9.6%	Parent
FYE Mar 2021	450	−10.7%	Parent
FYE Mar 2022	445	−1.1%	Parent
FYE Mar 2023	481	+8.0%	Parent
FYE Mar 2024	561	+16.6%	Parent
FYE Mar 2025	620	+10.6%	Parent
FYE Mar 2026	650	+4.9%	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 41.0years

Change · 8 yrs +4.0 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	37.0	n/a	Parent
FYE Mar 2020	38.0	+2.7%	Parent
FYE Mar 2021	39.0	+2.6%	Parent
FYE Mar 2022	40.0	+2.6%	Parent
FYE Mar 2023	40.0	−0.0%	Parent
FYE Mar 2024	41.0	+2.5%	Parent
FYE Mar 2025	41.0	−0.0%	Parent
FYE Mar 2026	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 Mar 2026 13.0years

Change · 8 yrs +4.0 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	9.0	n/a	Parent
FYE Mar 2020	10.0	+11.1%	Parent
FYE Mar 2021	10.0	−0.0%	Parent
FYE Mar 2022	11.0	+10.0%	Parent
FYE Mar 2023	13.0	+18.2%	Parent
FYE Mar 2024	13.0	−0.0%	Parent
FYE Mar 2025	13.0	−0.0%	Parent
FYE Mar 2026	13.0	−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 Mar 2026 1,707people

Change · 10 yrs −32 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	1,739	n/a	n/a
FYE Mar 2018	1,840	+5.8%	n/a
FYE Mar 2019	1,947	+5.8%	n/a
FYE Mar 2020	1,919	−1.4%	n/a
FYE Mar 2021	1,599	−16.7%	n/a
FYE Mar 2022	1,570	−1.8%	n/a
FYE Mar 2023	1,796	+14.4%	n/a
FYE Mar 2024	1,861	+3.6%	n/a
FYE Mar 2025	1,822	−2.1%	n/a
FYE Mar 2026	1,707	−6.3%	n/a

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

Revenue per employee

FYE Mar 2026 ¥107m

Change · 10 yrs +¥39.5m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	67.6	n/a	Cons.
FYE Mar 2018	69.0	+2.1%	Cons.
FYE Mar 2019	66.5	−3.7%	Cons.
FYE Mar 2020	61.6	−7.4%	Cons.
FYE Mar 2021	80.5	+30.7%	Cons.
FYE Mar 2022	91.5	+13.6%	Cons.
FYE Mar 2023	102	+11.4%	Cons.
FYE Mar 2024	110	+7.7%	Cons.
FYE Mar 2025	110	+0.7%	Cons.
FYE Mar 2026	107	−3.0%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥8.7m

Change · 10 yrs +¥5.7m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.0	n/a	Cons.
FYE Mar 2018	3.0	+0.2%	Cons.
FYE Mar 2019	1.0	−67.4%	Cons.
FYE Mar 2020	-5.2	−632.6%	Cons.
FYE Mar 2021	-5.7	n/a	Cons.
FYE Mar 2022	0.4	n/a	Cons.
FYE Mar 2023	2.5	+507.8%	Cons.
FYE Mar 2024	6.1	+144.4%	Cons.
FYE Mar 2025	7.5	+23.6%	Cons.
FYE Mar 2026	8.7	+15.9%	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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