Financials

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

FYE Mar 2026 · Revenue¥252bnYoY +8.1%

FYE Mar 2026 · Operating profit¥36bnYoY +11.2%

FYE Mar 2026 · Net profit¥25bnYoY +4.3%

FYE Mar 2026 · Equity ratio53.5%YoY +1.1pp

FYE Mar 2026 · Group employees4,715YoY +32

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥181bn	n/a	¥20bn	n/a	11.2%	¥14bn	—	Starts Welfare-Contribution Infrastructure Fund partnership established
FYE Mar 2018Consolidated	¥169bn	−6.6%	¥21bn	+3.8%	12.4%	¥14bn	Isozaki Kazuo	Five PFI and PPP projects entered in two years, from Anjo to Higashi-Okazaki
FYE Mar 2019Consolidated	¥195bn	+15.6%	¥23bn	+8.9%	11.7%	¥15bn	Isozaki Kazuo	Segment disclosure recast into ten segments
FYE Mar 2020Consolidated	¥209bn	+7.1%	¥24bn	+4.8%	11.4%	¥15bn	Isozaki Kazuo	Fiftieth anniversary; ninth consecutive year of dividend increases
FYE Mar 2021Consolidated	¥199bn	−4.8%	¥22bn	−7.7%	11.1%	¥16bn	Isozaki Kazuo	—
FYE Mar 2022Consolidated	¥197bn	−1.2%	¥24bn	+9.6%	12.3%	¥17bn	Isozaki Kazuo	—
FYE Mar 2023Consolidated	¥234bn	+19.0%	¥28bn	+16.2%	12.0%	¥20bn	Isozaki Kazuo	Moved to the TSE Prime Market; Yoshihiro Kikaku acquired
FYE Mar 2024Consolidated	¥233bn	−0.2%	¥30bn	+8.6%	13.1%	¥22bn	Isozaki Kazuo	Starts Environmental Property Development Fund partnership established
FYE Mar 2025Consolidated	¥233bn	−0.2%	¥33bn	+7.0%	14.0%	¥24bn	Isozaki Kazuo	Starts Environmental Development established
FYE Mar 2026Consolidated	¥252bn	+8.1%	¥36bn	+11.2%	14.4%	¥25bn	Muraishi Toyotaka	Pitat House reaches 113 group shops and 518 network shops

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 ¥252bn

CAGR · 10 yrs +3.8%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	181	n/a	Cons. · Japanese GAAP
FYE Mar 2018	169	−6.6%	Cons. · Japanese GAAP
FYE Mar 2019	195	+15.6%	Cons. · Japanese GAAP
FYE Mar 2020	209	+7.1%	Cons. · Japanese GAAP
FYE Mar 2021	199	−4.8%	Cons. · Japanese GAAP
FYE Mar 2022	197	−1.2%	Cons. · Japanese GAAP
FYE Mar 2023	234	+19.0%	Cons. · Japanese GAAP
FYE Mar 2024	233	−0.2%	Cons. · Japanese GAAP
FYE Mar 2025	233	−0.2%	Cons. · Japanese GAAP
FYE Mar 2026	252	+8.1%	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 ¥168bn

CAGR · 10 yrs +3.0%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	129	n/a	Cons. · Japanese GAAP
FYE Mar 2018	115	−10.8%	Cons. · Japanese GAAP
FYE Mar 2019	137	+18.5%	Cons. · Japanese GAAP
FYE Mar 2020	148	+8.5%	Cons. · Japanese GAAP
FYE Mar 2021	143	−3.5%	Cons. · Japanese GAAP
FYE Mar 2022	136	−4.6%	Cons. · Japanese GAAP
FYE Mar 2023	166	+21.4%	Cons. · Japanese GAAP
FYE Mar 2024	160	−3.5%	Cons. · Japanese GAAP
FYE Mar 2025	155	−2.8%	Cons. · Japanese GAAP
FYE Mar 2026	168	+8.2%	Cons. · Japanese GAAP

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

Gross profit

FYE Mar 2026 ¥84bn

CAGR · 10 yrs +5.5%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	51.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	53.6	+4.0%	Cons. · Japanese GAAP
FYE Mar 2019	58.6	+9.2%	Cons. · Japanese GAAP
FYE Mar 2020	60.8	+3.8%	Cons. · Japanese GAAP
FYE Mar 2021	55.9	−8.1%	Cons. · Japanese GAAP
FYE Mar 2022	60.1	+7.4%	Cons. · Japanese GAAP
FYE Mar 2023	68.2	+13.5%	Cons. · Japanese GAAP
FYE Mar 2024	73.5	+7.8%	Cons. · Japanese GAAP
FYE Mar 2025	77.6	+5.5%	Cons. · Japanese GAAP
FYE Mar 2026	83.7	+7.9%	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 ¥47bn

CAGR · 10 yrs +4.7%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	31.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.7	+4.2%	Cons. · Japanese GAAP
FYE Mar 2019	35.8	+9.4%	Cons. · Japanese GAAP
FYE Mar 2020	36.9	+3.2%	Cons. · Japanese GAAP
FYE Mar 2021	33.9	−8.3%	Cons. · Japanese GAAP
FYE Mar 2022	35.9	+6.0%	Cons. · Japanese GAAP
FYE Mar 2023	40.1	+11.7%	Cons. · Japanese GAAP
FYE Mar 2024	43.0	+7.3%	Cons. · Japanese GAAP
FYE Mar 2025	45.0	+4.5%	Cons. · Japanese GAAP
FYE Mar 2026	47.5	+5.6%	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 +6.7%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	20.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.9	+3.8%	Cons. · Japanese GAAP
FYE Mar 2019	22.8	+8.9%	Cons. · Japanese GAAP
FYE Mar 2020	23.9	+4.8%	Cons. · Japanese GAAP
FYE Mar 2021	22.1	−7.7%	Cons. · Japanese GAAP
FYE Mar 2022	24.2	+9.6%	Cons. · Japanese GAAP
FYE Mar 2023	28.1	+16.2%	Cons. · Japanese GAAP
FYE Mar 2024	30.5	+8.6%	Cons. · Japanese GAAP
FYE Mar 2025	32.6	+7.0%	Cons. · Japanese GAAP
FYE Mar 2026	36.3	+11.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥2.9bn

CAGR · 10 yrs +18.0%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.7	+11.4%	Cons. · Japanese GAAP
FYE Mar 2019	1.8	+149.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.9	−51.4%	Cons. · Japanese GAAP
FYE Mar 2021	1.7	+96.1%	Cons. · Japanese GAAP
FYE Mar 2022	2.1	+21.3%	Cons. · Japanese GAAP
FYE Mar 2023	2.3	+9.3%	Cons. · Japanese GAAP
FYE Mar 2024	3.3	+46.1%	Cons. · Japanese GAAP
FYE Mar 2025	1.5	−53.4%	Cons. · Japanese GAAP
FYE Mar 2026	2.9	+85.1%	Cons. · Japanese GAAP

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

Non-operating expenses

FYE Mar 2026 ¥890m

CAGR · 10 yrs +4.1%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Mar 2017	622	n/a	Cons. · Japanese GAAP
FYE Mar 2018	939	+51.0%	Cons. · Japanese GAAP
FYE Mar 2019	613	−34.7%	Cons. · Japanese GAAP
FYE Mar 2020	663	+8.2%	Cons. · Japanese GAAP
FYE Mar 2021	458	−30.9%	Cons. · Japanese GAAP
FYE Mar 2022	471	+2.8%	Cons. · Japanese GAAP
FYE Mar 2023	363	−22.9%	Cons. · Japanese GAAP
FYE Mar 2024	419	+15.4%	Cons. · Japanese GAAP
FYE Mar 2025	764	+82.3%	Cons. · Japanese GAAP
FYE Mar 2026	890	+16.5%	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 ¥38bn

CAGR · 10 yrs +7.3%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	20.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.7	+2.6%	Cons. · Japanese GAAP
FYE Mar 2019	24.0	+15.8%	Cons. · Japanese GAAP
FYE Mar 2020	24.1	+0.5%	Cons. · Japanese GAAP
FYE Mar 2021	23.3	−3.3%	Cons. · Japanese GAAP
FYE Mar 2022	25.8	+10.6%	Cons. · Japanese GAAP
FYE Mar 2023	30.0	+16.3%	Cons. · Japanese GAAP
FYE Mar 2024	33.4	+11.3%	Cons. · Japanese GAAP
FYE Mar 2025	33.4	−0.0%	Cons. · Japanese GAAP
FYE Mar 2026	38.2	+14.5%	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 ¥0.6bn

CAGR · 10 yrs +10.0%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.1	−73.8%	Cons. · Japanese GAAP
FYE Mar 2019	0.0	−82.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.0	+141.7%	Cons. · Japanese GAAP
FYE Mar 2021	0.0	−62.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.4	+3636.4%	Cons. · Japanese GAAP
FYE Mar 2023	0.7	+77.6%	Cons. · Japanese GAAP
FYE Mar 2024	0.1	−90.7%	Cons. · Japanese GAAP
FYE Mar 2025	3.0	+4369.1%	Cons. · Japanese GAAP
FYE Mar 2026	0.6	−79.3%	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 ¥25bn

CAGR · 10 yrs +7.1%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	13.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.7	+0.6%	Cons. · Japanese GAAP
FYE Mar 2019	15.3	+11.2%	Cons. · Japanese GAAP
FYE Mar 2020	15.1	−1.3%	Cons. · Japanese GAAP
FYE Mar 2021	15.6	+3.6%	Cons. · Japanese GAAP
FYE Mar 2022	16.8	+7.5%	Cons. · Japanese GAAP
FYE Mar 2023	20.2	+20.5%	Cons. · Japanese GAAP
FYE Mar 2024	22.1	+9.3%	Cons. · Japanese GAAP
FYE Mar 2025	24.3	+9.9%	Cons. · Japanese GAAP
FYE Mar 2026	25.3	+4.3%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 33.2%

Average · 10 yrs 30.5%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	28.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	31.8	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2019	30.0	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2020	29.1	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	28.1	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	30.6	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	29.2	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	31.5	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2025	33.3	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	33.2	−0.1pp	Cons. · Japanese GAAP

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

Operating margin

FYE Mar 2026 14.4%

Average · 10 yrs 12.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	11.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.4	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	11.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	11.4	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	11.1	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	12.3	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	12.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	13.1	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	14.0	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	14.4	+0.4pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Mar 2026 15.2%

Average · 10 yrs 12.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	11.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	12.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	11.5	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	11.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	13.1	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	12.8	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	14.3	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	14.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	15.2	+0.8pp	Cons. · Japanese GAAP

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

Net margin

FYE Mar 2026 10.0%

Average · 10 yrs 8.6%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	7.8	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	7.2	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	7.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	8.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	8.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	9.5	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	10.4	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	10.0	−0.4pp	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 66.8%

Average · 10 yrs 69.5%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	71.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	68.2	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2019	70.0	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2020	70.9	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	71.9	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	69.4	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	70.8	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	68.5	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2025	66.7	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	66.8	+0.1pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by the cost of sales
Formula: Cost of sales ÷ revenue
Source: Securities report (XBRL)

SG&A ratio

FYE Mar 2026 18.8%

Average · 10 yrs 18.2%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	17.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.4	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2019	18.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	17.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	17.0	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	18.3	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	17.1	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	18.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	19.3	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	18.8	−0.5pp	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 ¥353bn

CAGR · 10 yrs +6.9%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	193	n/a	Cons. · Japanese GAAP
FYE Mar 2018	234	+21.5%	Cons. · Japanese GAAP
FYE Mar 2019	239	+2.0%	Cons. · Japanese GAAP
FYE Mar 2020	248	+3.8%	Cons. · Japanese GAAP
FYE Mar 2021	259	+4.4%	Cons. · Japanese GAAP
FYE Mar 2022	273	+5.5%	Cons. · Japanese GAAP
FYE Mar 2023	293	+7.2%	Cons. · Japanese GAAP
FYE Mar 2024	324	+10.6%	Cons. · Japanese GAAP
FYE Mar 2025	334	+2.9%	Cons. · Japanese GAAP
FYE Mar 2026	353	+5.7%	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 ¥189bn

CAGR · 10 yrs +11.5%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	70.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	82.0	+15.8%	Cons. · Japanese GAAP
FYE Mar 2019	93.8	+14.4%	Cons. · Japanese GAAP
FYE Mar 2020	105	+11.8%	Cons. · Japanese GAAP
FYE Mar 2021	121	+14.9%	Cons. · Japanese GAAP
FYE Mar 2022	126	+4.5%	Cons. · Japanese GAAP
FYE Mar 2023	143	+13.1%	Cons. · Japanese GAAP
FYE Mar 2024	162	+13.8%	Cons. · Japanese GAAP
FYE Mar 2025	175	+7.8%	Cons. · Japanese GAAP
FYE Mar 2026	189	+8.0%	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 ¥51bn

CAGR · 10 yrs +0.8%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	47.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.8	+45.9%	Cons. · Japanese GAAP
FYE Mar 2019	57.9	−17.0%	Cons. · Japanese GAAP
FYE Mar 2020	56.3	−2.8%	Cons. · Japanese GAAP
FYE Mar 2021	54.4	−3.5%	Cons. · Japanese GAAP
FYE Mar 2022	55.4	+2.0%	Cons. · Japanese GAAP
FYE Mar 2023	50.4	−9.0%	Cons. · Japanese GAAP
FYE Mar 2024	59.2	+17.4%	Cons. · Japanese GAAP
FYE Mar 2025	53.4	−9.7%	Cons. · Japanese GAAP
FYE Mar 2026	51.5	−3.7%	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 ¥6.9bn

CAGR · 10 yrs +2.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.9	+214.0%	Cons. · Japanese GAAP
FYE Mar 2019	4.2	−76.5%	Cons. · Japanese GAAP
FYE Mar 2020	6.4	+51.9%	Cons. · Japanese GAAP
FYE Mar 2021	5.1	−19.5%	Cons. · Japanese GAAP
FYE Mar 2022	5.5	+6.6%	Cons. · Japanese GAAP
FYE Mar 2023	8.0	+45.7%	Cons. · Japanese GAAP
FYE Mar 2024	8.4	+5.1%	Cons. · Japanese GAAP
FYE Mar 2025	7.2	−14.1%	Cons. · Japanese GAAP
FYE Mar 2026	6.9	−4.0%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Mar 2026 ¥45bn

CAGR · 10 yrs +0.6%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	42.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	51.9	+23.2%	Cons. · Japanese GAAP
FYE Mar 2019	53.7	+3.6%	Cons. · Japanese GAAP
FYE Mar 2020	49.9	−7.1%	Cons. · Japanese GAAP
FYE Mar 2021	49.2	−1.4%	Cons. · Japanese GAAP
FYE Mar 2022	50.0	+1.5%	Cons. · Japanese GAAP
FYE Mar 2023	42.5	−15.0%	Cons. · Japanese GAAP
FYE Mar 2024	50.8	+19.7%	Cons. · Japanese GAAP
FYE Mar 2025	46.2	−9.0%	Cons. · Japanese GAAP
FYE Mar 2026	44.6	−3.6%	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 ¥6.4bn

CAGR · 10 yrs +6.4%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.5	−4.6%	Cons. · Japanese GAAP
FYE Mar 2019	3.2	−7.9%	Cons. · Japanese GAAP
FYE Mar 2020	2.9	−10.2%	Cons. · Japanese GAAP
FYE Mar 2021	2.8	−2.0%	Cons. · Japanese GAAP
FYE Mar 2022	3.1	+9.8%	Cons. · Japanese GAAP
FYE Mar 2023	4.2	+33.9%	Cons. · Japanese GAAP
FYE Mar 2024	5.0	+20.8%	Cons. · Japanese GAAP
FYE Mar 2025	5.6	+10.2%	Cons. · Japanese GAAP
FYE Mar 2026	6.4	+15.7%	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 ¥0.1bn

CAGR · 10 yrs −26.5%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.9	−11.8%	Cons. · Japanese GAAP
FYE Mar 2019	1.6	−16.0%	Cons. · Japanese GAAP
FYE Mar 2020	1.4	−13.7%	Cons. · Japanese GAAP
FYE Mar 2021	1.3	−10.4%	Cons. · Japanese GAAP
FYE Mar 2022	1.0	−19.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.9	−10.3%	Cons. · Japanese GAAP
FYE Mar 2024	0.7	−28.4%	Cons. · Japanese GAAP
FYE Mar 2025	0.4	−39.7%	Cons. · Japanese GAAP
FYE Mar 2026	0.1	−65.1%	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 53.5%

Average · 10 yrs 45.1%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	36.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.0	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2019	39.3	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2020	42.3	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2021	46.6	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2022	46.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	48.6	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2024	50.0	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	52.4	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	53.5	+1.1pp	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 27.3%

Average · 10 yrs 48.7%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	67.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	85.1	+17.5pp	Cons. · Japanese GAAP
FYE Mar 2019	61.7	−23.4pp	Cons. · Japanese GAAP
FYE Mar 2020	53.7	−8.1pp	Cons. · Japanese GAAP
FYE Mar 2021	45.1	−8.6pp	Cons. · Japanese GAAP
FYE Mar 2022	44.0	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2023	35.4	−8.6pp	Cons. · Japanese GAAP
FYE Mar 2024	36.5	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	30.6	−5.9pp	Cons. · Japanese GAAP
FYE Mar 2026	27.3	−3.3pp	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 13.4%

Average · 10 yrs 14.8%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	19.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.7	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2019	16.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	14.3	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	12.9	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2022	13.3	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	14.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	13.6	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	13.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	13.4	−0.5pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 7.2%

Average · 10 yrs 6.6%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.9	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	6.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	6.1	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	6.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	6.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	6.9	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	6.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	7.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	7.2	−0.1pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.71×

CAGR · 10 yrs −3.0%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.94	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.72	−23.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.82	+13.3%	Cons. · Japanese GAAP
FYE Mar 2020	0.84	+3.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.77	−8.9%	Cons. · Japanese GAAP
FYE Mar 2022	0.72	−6.3%	Cons. · Japanese GAAP
FYE Mar 2023	0.80	+10.9%	Cons. · Japanese GAAP
FYE Mar 2024	0.72	−9.7%	Cons. · Japanese GAAP
FYE Mar 2025	0.70	−3.0%	Cons. · Japanese GAAP
FYE Mar 2026	0.71	+2.3%	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 Mar 2026 ¥17bn

CAGR · 10 yrs −2.0%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	20.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-4.7	−122.5%	Cons. · Japanese GAAP
FYE Mar 2019	28.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	30.7	+8.8%	Cons. · Japanese GAAP
FYE Mar 2021	27.2	−11.1%	Cons. · Japanese GAAP
FYE Mar 2022	25.0	−8.4%	Cons. · Japanese GAAP
FYE Mar 2023	34.1	+36.9%	Cons. · Japanese GAAP
FYE Mar 2024	25.7	−24.7%	Cons. · Japanese GAAP
FYE Mar 2025	25.9	+0.7%	Cons. · Japanese GAAP
FYE Mar 2026	17.2	−33.5%	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 -¥19bn

Average · 10 yrs -¥14bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-9.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-27.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-10.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-8.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-10.4	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-17.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-10.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-20.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-8.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-19.1	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 -¥12bn

Average · 10 yrs -¥5.7bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.7	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-15.8	−166.5%	Cons. · Japanese GAAP
FYE Mar 2020	-9.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-4.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-12.9	n/a	Cons. · Japanese GAAP
FYE Mar 2024	3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-15.3	−604.6%	Cons. · Japanese GAAP
FYE Mar 2026	-12.3	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 ¥75bn

CAGR · 10 yrs +5.4%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	46.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	38.4	−17.9%	Cons. · Japanese GAAP
FYE Mar 2019	41.2	+7.1%	Cons. · Japanese GAAP
FYE Mar 2020	54.1	+31.5%	Cons. · Japanese GAAP
FYE Mar 2021	66.2	+22.2%	Cons. · Japanese GAAP
FYE Mar 2022	67.6	+2.2%	Cons. · Japanese GAAP
FYE Mar 2023	78.5	+16.0%	Cons. · Japanese GAAP
FYE Mar 2024	86.9	+10.7%	Cons. · Japanese GAAP
FYE Mar 2025	88.8	+2.2%	Cons. · Japanese GAAP
FYE Mar 2026	74.9	−15.6%	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 -¥1.9bn

Average · 10 yrs ¥8.8bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	11.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-32.0	−372.4%	Cons. · Japanese GAAP
FYE Mar 2019	18.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	22.4	+23.6%	Cons. · Japanese GAAP
FYE Mar 2021	16.9	−24.4%	Cons. · Japanese GAAP
FYE Mar 2022	7.1	−57.8%	Cons. · Japanese GAAP
FYE Mar 2023	23.4	+228.8%	Cons. · Japanese GAAP
FYE Mar 2024	5.0	−78.9%	Cons. · Japanese GAAP
FYE Mar 2025	17.1	+245.8%	Cons. · Japanese GAAP
FYE Mar 2026	-1.9	−111.2%	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 6.8%

Average · 10 yrs 10.8%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	11.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-2.8	−14.2pp	Cons. · Japanese GAAP
FYE Mar 2019	14.4	+17.2pp	Cons. · Japanese GAAP
FYE Mar 2020	14.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	13.7	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	12.7	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	14.6	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	11.0	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2025	11.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	6.8	−4.3pp	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 ¥23bn

Average · 10 yrs ¥8.7bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-31.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-16.8	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	11.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	12.2	+3.1%	Cons. · Japanese GAAP
FYE Mar 2023	28.1	+130.0%	Cons. · Japanese GAAP
FYE Mar 2024	27.7	−1.3%	Cons. · Japanese GAAP
FYE Mar 2025	35.4	+27.7%	Cons. · Japanese GAAP
FYE Mar 2026	23.5	−33.7%	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 ¥256bn

Change · 10 yrs +¥131bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	126	n/a
FYE Mar 2018	156	n/a
FYE Mar 2019	128	n/a
FYE Mar 2020	108	n/a
FYE Mar 2021	157	n/a
FYE Mar 2022	130	n/a
FYE Mar 2023	137	n/a
FYE Mar 2024	184	n/a
FYE Mar 2025	212	n/a
FYE Mar 2026	256	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 4,750¥

Change · 10 yrs +2,426¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	2,324	n/a
FYE Mar 2018	2,894	n/a
FYE Mar 2019	2,362	n/a
FYE Mar 2020	2,004	n/a
FYE Mar 2021	2,906	n/a
FYE Mar 2022	2,400	n/a
FYE Mar 2023	2,544	n/a
FYE Mar 2024	3,412	n/a
FYE Mar 2025	3,927	n/a
FYE Mar 2026	4,750	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 53,998,205shares

Change · 10 yrs −0 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	53,998,205	Parent
FYE Mar 2018	53,998,205	Parent
FYE Mar 2019	53,998,205	Parent
FYE Mar 2020	53,998,205	Parent
FYE Mar 2021	53,998,205	Parent
FYE Mar 2022	53,998,205	Parent
FYE Mar 2023	53,998,205	Parent
FYE Mar 2024	53,998,205	Parent
FYE Mar 2025	53,998,205	Parent
FYE Mar 2026	53,998,205	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 526.61¥

Change · 10 yrs +267.20¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	259.41	Cons.
FYE Mar 2018	260.94	Cons.
FYE Mar 2019	290.16	Cons.
FYE Mar 2020	286.26	Cons.
FYE Mar 2021	296.26	Cons.
FYE Mar 2022	332.83	Cons.
FYE Mar 2023	407.07	Cons.
FYE Mar 2024	444.84	Cons.
FYE Mar 2025	492.15	Cons.
FYE Mar 2026	526.61	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 3,495.51¥

Change · 10 yrs +2,184.42¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,311.08	Cons. · Japanese GAAP
FYE Mar 2018	1,518.83	Cons. · Japanese GAAP
FYE Mar 2019	1,737.98	Cons. · Japanese GAAP
FYE Mar 2020	1,943.66	Cons. · Japanese GAAP
FYE Mar 2021	2,233.20	Cons. · Japanese GAAP
FYE Mar 2022	2,334.63	Cons. · Japanese GAAP
FYE Mar 2023	2,639.35	Cons. · Japanese GAAP
FYE Mar 2024	3,002.99	Cons. · Japanese GAAP
FYE Mar 2025	3,236.22	Cons. · Japanese GAAP
FYE Mar 2026	3,495.51	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 9.02×

Average · 10 yrs 8.31×

Fiscal year	PER ×	Basis
FYE Mar 2017	8.96	Cons.
FYE Mar 2018	11.09	Cons.
FYE Mar 2019	8.14	Cons.
FYE Mar 2020	7.00	Cons.
FYE Mar 2021	9.81	Cons.
FYE Mar 2022	7.21	Cons.
FYE Mar 2023	6.25	Cons.
FYE Mar 2024	7.67	Cons.
FYE Mar 2025	7.98	Cons.
FYE Mar 2026	9.02	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 1.19×

Average · 10 yrs 1.23×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.73	Cons.
FYE Mar 2018	1.86	Cons.
FYE Mar 2019	1.32	Cons.
FYE Mar 2020	1.00	Cons.
FYE Mar 2021	1.27	Cons.
FYE Mar 2022	0.95	Cons.
FYE Mar 2023	0.89	Cons.
FYE Mar 2024	1.05	Cons.
FYE Mar 2025	1.08	Cons.
FYE Mar 2026	1.19	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 4,715people

Change · 10 yrs +890 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	3,825	n/a	Cons.
FYE Mar 2018	4,155	+8.6%	Cons.
FYE Mar 2019	4,391	+5.7%	Cons.
FYE Mar 2020	4,575	+4.2%	Cons.
FYE Mar 2021	4,738	+3.6%	Cons.
FYE Mar 2022	4,729	−0.2%	Cons.
FYE Mar 2023	4,742	+0.3%	Cons.
FYE Mar 2024	4,672	−1.5%	Cons.
FYE Mar 2025	4,683	+0.2%	Cons.
FYE Mar 2026	4,715	+0.7%	Cons.

Definition: Everyone employed across the group
Formula: Consolidated headcount, from the employee section of the filing
Source: Securities report (XBRL)

Parent-company employees

FYE Mar 2026 155people

Change · 10 yrs +16 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	139	n/a	Parent
FYE Mar 2018	139	−0.0%	Parent
FYE Mar 2019	146	+5.0%	Parent
FYE Mar 2020	162	+11.0%	Parent
FYE Mar 2021	143	−11.7%	Parent
FYE Mar 2022	144	+0.7%	Parent
FYE Mar 2023	155	+7.6%	Parent
FYE Mar 2024	155	−0.0%	Parent
FYE Mar 2025	163	+5.2%	Parent
FYE Mar 2026	155	−4.9%	Parent

Definition: Employees of the filing company itself
Formula: Parent-only headcount, from the employee section of the filing
Source: Securities report (XBRL)

Average annual pay parent company

FYE Mar 2026 658万円

Change · 8 yrs +82万円

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	576	n/a	Parent
FYE Mar 2020	582	+1.0%	Parent
FYE Mar 2021	569	−2.4%	Parent
FYE Mar 2022	555	−2.3%	Parent
FYE Mar 2023	616	+10.9%	Parent
FYE Mar 2024	629	+2.2%	Parent
FYE Mar 2025	632	+0.4%	Parent
FYE Mar 2026	658	+4.2%	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 37.5years

Change · 8 yrs +1.4 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	36.1	n/a	Parent
FYE Mar 2020	35.7	−1.0%	Parent
FYE Mar 2021	35.9	+0.6%	Parent
FYE Mar 2022	37.3	+3.7%	Parent
FYE Mar 2023	37.2	−0.3%	Parent
FYE Mar 2024	38.2	+2.7%	Parent
FYE Mar 2025	37.7	−1.1%	Parent
FYE Mar 2026	37.5	−0.7%	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 14.6years

Change · 8 yrs +1.5 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	13.1	n/a	Parent
FYE Mar 2020	12.6	−3.6%	Parent
FYE Mar 2021	13.3	+5.5%	Parent
FYE Mar 2022	14.3	+7.4%	Parent
FYE Mar 2023	14.4	+0.4%	Parent
FYE Mar 2024	15.2	+5.5%	Parent
FYE Mar 2025	14.8	−2.3%	Parent
FYE Mar 2026	14.6	−1.1%	Parent

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

Temporary employees

FYE Mar 2026 4,489people

Change · 10 yrs +1,706 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	2,783	n/a	n/a
FYE Mar 2018	3,110	+11.7%	n/a
FYE Mar 2019	3,420	+10.0%	n/a
FYE Mar 2020	3,532	+3.3%	n/a
FYE Mar 2021	3,465	−1.9%	n/a
FYE Mar 2022	3,528	+1.8%	n/a
FYE Mar 2023	3,866	+9.6%	n/a
FYE Mar 2024	4,018	+3.9%	n/a
FYE Mar 2025	4,227	+5.2%	n/a
FYE Mar 2026	4,489	+6.2%	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 ¥53.4m

Change · 10 yrs +¥6.2m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	47.3	n/a	Cons.
FYE Mar 2018	40.6	−14.0%	Cons.
FYE Mar 2019	44.4	+9.4%	Cons.
FYE Mar 2020	45.7	+2.8%	Cons.
FYE Mar 2021	42.0	−8.1%	Cons.
FYE Mar 2022	41.6	−1.0%	Cons.
FYE Mar 2023	49.3	+18.6%	Cons.
FYE Mar 2024	50.0	+1.3%	Cons.
FYE Mar 2025	49.7	−0.4%	Cons.
FYE Mar 2026	53.4	+7.4%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥7.7m

Change · 10 yrs +¥2.4m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons.
FYE Mar 2018	5.0	−4.4%	Cons.
FYE Mar 2019	5.2	+3.1%	Cons.
FYE Mar 2020	5.2	+0.6%	Cons.
FYE Mar 2021	4.7	−10.9%	Cons.
FYE Mar 2022	5.1	+9.8%	Cons.
FYE Mar 2023	5.9	+15.9%	Cons.
FYE Mar 2024	6.5	+10.2%	Cons.
FYE Mar 2025	7.0	+6.7%	Cons.
FYE Mar 2026	7.7	+10.4%	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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