Financials

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

FYE Mar 2026 · Revenue¥151bnYoY +5.7%

FYE Mar 2026 · Operating profit¥31bnYoY +1.2%

FYE Mar 2026 · Net profit¥21bnYoY −52.3%

FYE Mar 2026 · Equity ratio25.5%YoY +3.7pp

FYE Mar 2026 · Group employees3,451YoY +117

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥205bn	n/a	¥13bn	n/a	6.5%	¥9.2bn	Nakamura Kenichi	AIRINC acquired; renamed Relo Group
FYE Mar 2018Consolidated	¥225bn	+9.9%	¥15bn	+15.8%	6.8%	¥11bn	Nakamura Kenichi	—
FYE Mar 2019Consolidated	¥251bn	+11.3%	¥18bn	+16.3%	7.1%	¥13bn	Nakamura Kenichi	—
FYE Mar 2020Consolidated	¥313bn	+24.8%	¥18bn	+0.0%	5.7%	¥3.8bn	Nakamura Kenichi	BGRS acquired; debt rises to ¥69.3bn
FYE Mar 2021Consolidated	¥334bn	+6.6%	¥12bn	−30.1%	3.7%	¥9.4bn	Nakamura Kenichi	¥9.5bn goodwill impairment on BGRS
FYE Mar 2022Consolidated	¥157bn	−53.1%	¥19bn	+48.1%	11.8%	¥14bn	Nakamura Kenichi	—
FYE Mar 2023Consolidated	¥124bn	−21.0%	¥23bn	+22.9%	18.4%	¥21bn	Nakamura Kenichi	BGRS combined with SIRVA; Relo holds 23%
FYE Mar 2024Consolidated	¥133bn	+7.2%	¥28bn	+21.4%	20.8%	-¥28bn	Nakamura Kenichi	—
FYE Mar 2025Consolidated	¥143bn	+7.8%	¥30bn	+10.2%	21.3%	¥43bn	Nakamura Kenichi	¥47.6bn written off; ¥27.8bn net loss
FYE Mar 2026Consolidated	¥151bn	+5.7%	¥31bn	+1.2%	20.4%	¥21bn	Nakamura Kenichi	—

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 Other operating costs Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥151bn

CAGR · 10 yrs −3.3%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	205	n/a	Cons. · Japanese GAAP
FYE Mar 2018	225	+9.9%	Cons. · Japanese GAAP
FYE Mar 2019	251	+11.3%	Cons. · Japanese GAAP
FYE Mar 2020	313	+24.8%	Cons. · Japanese GAAP
FYE Mar 2021	334	+6.6%	Cons. · Japanese GAAP
FYE Mar 2022	157	moved to IFRS	Cons. · IFRS
FYE Mar 2023	124	−21.0%	Cons. · IFRS
FYE Mar 2024	133	+7.2%	Cons. · IFRS
FYE Mar 2025	143	+7.8%	Cons. · IFRS
FYE Mar 2026	151	+5.7%	Cons. · IFRS

Definition: Everything the company took in from its own business
Formula: Revenue line of the income statement
Source: Securities report (XBRL)

Cost of sales

FYE Mar 2026 ¥81bn

CAGR · 10 yrs −8.1%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	172	n/a	Cons. · Japanese GAAP
FYE Mar 2018	186	+8.1%	Cons. · Japanese GAAP
FYE Mar 2019	205	+10.2%	Cons. · Japanese GAAP
FYE Mar 2020	251	+22.1%	Cons. · Japanese GAAP
FYE Mar 2021	271	+8.2%	Cons. · Japanese GAAP
FYE Mar 2022	90.3	moved to IFRS	Cons. · IFRS
FYE Mar 2023	68.4	−24.3%	Cons. · IFRS
FYE Mar 2024	72.0	+5.4%	Cons. · IFRS
FYE Mar 2025	76.6	+6.3%	Cons. · IFRS
FYE Mar 2026	80.8	+5.4%	Cons. · IFRS

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

Gross profit

FYE Mar 2026 ¥70bn

CAGR · 10 yrs +8.9%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	32.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.0	+19.3%	Cons. · Japanese GAAP
FYE Mar 2019	45.4	+16.4%	Cons. · Japanese GAAP
FYE Mar 2020	62.1	+36.8%	Cons. · Japanese GAAP
FYE Mar 2021	61.0	−1.8%	Cons. · Japanese GAAP
FYE Mar 2022	50.9	moved to IFRS	Cons. · IFRS
FYE Mar 2023	55.3	+8.7%	Cons. · IFRS
FYE Mar 2024	60.5	+9.4%	Cons. · IFRS
FYE Mar 2025	66.3	+9.5%	Cons. · IFRS
FYE Mar 2026	70.3	+6.0%	Cons. · IFRS

Definition: What the product or service itself earns
Formula: Revenue − cost of sales
Source: Securities report (XBRL)

SG&A selling, general and administrative expenses

FYE Mar 2026 ¥43bn

CAGR · 10 yrs +9.2%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	19.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.6	+21.7%	Cons. · Japanese GAAP
FYE Mar 2019	27.5	+16.5%	Cons. · Japanese GAAP
FYE Mar 2020	44.2	+60.6%	Cons. · Japanese GAAP
FYE Mar 2021	49.7	+12.3%	Cons. · Japanese GAAP
FYE Mar 2022	51.6	moved to IFRS	Cons. · IFRS
FYE Mar 2023	35.3	−31.7%	Cons. · IFRS
FYE Mar 2024	36.0	+2.1%	Cons. · IFRS
FYE Mar 2025	39.9	+10.8%	Cons. · IFRS
FYE Mar 2026	42.8	+7.2%	Cons. · IFRS

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

Operating profit

FYE Mar 2026 ¥31bn

CAGR · 10 yrs +9.8%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	13.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.4	+15.8%	Cons. · Japanese GAAP
FYE Mar 2019	17.9	+16.3%	Cons. · Japanese GAAP
FYE Mar 2020	17.9	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	12.5	−30.1%	Cons. · Japanese GAAP
FYE Mar 2022	18.5	moved to IFRS	Cons. · IFRS
FYE Mar 2023	22.7	+22.9%	Cons. · IFRS
FYE Mar 2024	27.6	+21.4%	Cons. · IFRS
FYE Mar 2025	30.4	+10.2%	Cons. · IFRS
FYE Mar 2026	30.8	+1.2%	Cons. · IFRS

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

Non-operating income

FYE Mar 2026 ¥0.7bn

CAGR · 10 yrs −5.9%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.8	+47.4%	Cons. · Japanese GAAP
FYE Mar 2019	2.5	+37.5%	Cons. · Japanese GAAP
FYE Mar 2020	2.9	+16.1%	Cons. · Japanese GAAP
FYE Mar 2021	0.1	−95.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.1	moved to IFRS	Cons. · IFRS
FYE Mar 2023	2.3	+3489.1%	Cons. · IFRS
FYE Mar 2024	1.3	−43.1%	Cons. · IFRS
FYE Mar 2025	0.5	−58.6%	Cons. · IFRS
FYE Mar 2026	0.7	+32.9%	Cons. · IFRS

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 ¥0.8bn

CAGR · 10 yrs +12.6%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.3	−7.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.3	+26.8%	Cons. · Japanese GAAP
FYE Mar 2020	0.7	+106.3%	Cons. · Japanese GAAP
FYE Mar 2021	1.8	+182.7%	Cons. · Japanese GAAP
FYE Mar 2022	0.6	moved to IFRS	Cons. · IFRS
FYE Mar 2023	0.9	+61.1%	Cons. · IFRS
FYE Mar 2024	1.3	+42.5%	Cons. · IFRS
FYE Mar 2025	0.5	−62.0%	Cons. · IFRS
FYE Mar 2026	0.8	+57.5%	Cons. · IFRS

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 n/a

CAGR · 5 yrs +3.2%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	14.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.9	+19.0%	Cons. · Japanese GAAP
FYE Mar 2019	20.1	+18.5%	Cons. · Japanese GAAP
FYE Mar 2020	20.1	+0.4%	Cons. · Japanese GAAP
FYE Mar 2021	16.1	−20.0%	Cons. · Japanese GAAP
FYE Mar 2022	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

Definition: A level of profit that exists only under Japanese GAAP
Formula: Operating profit + non-operating income − non-operating expenses
Source: Securities report (XBRL)

Extraordinary income

FYE Mar 2026 n/a

CAGR · 4 yrs +47.9%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−1.1%	Cons. · Japanese GAAP
FYE Mar 2020	1.4	+1458.1%	Cons. · Japanese GAAP
FYE Mar 2021	0.3	−79.0%	Cons. · Japanese GAAP
FYE Mar 2022	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

Definition: One-off gains, such as an asset sale
Formula: Extraordinary income line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥21bn

CAGR · 10 yrs +9.5%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.8	+17.8%	Cons. · Japanese GAAP
FYE Mar 2019	13.0	+20.6%	Cons. · Japanese GAAP
FYE Mar 2020	3.8	−70.6%	Cons. · Japanese GAAP
FYE Mar 2021	9.4	+145.0%	Cons. · Japanese GAAP
FYE Mar 2022	13.7	moved to IFRS	Cons. · IFRS
FYE Mar 2023	20.9	+51.9%	Cons. · IFRS
FYE Mar 2024	-27.8	−233.1%	Cons. · IFRS
FYE Mar 2025	43.3	n/a	Cons. · IFRS
FYE Mar 2026	20.7	−52.3%	Cons. · IFRS

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

Gross margin

FYE Mar 2026 46.5%

Average · 10 yrs 30.5%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	15.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.3	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	18.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	19.8	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	18.3	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	32.5	moved to IFRS	Cons. · IFRS
FYE Mar 2023	44.7	+12.2pp	Cons. · IFRS
FYE Mar 2024	45.7	+0.9pp	Cons. · IFRS
FYE Mar 2025	46.4	+0.7pp	Cons. · IFRS
FYE Mar 2026	46.5	+0.1pp	Cons. · IFRS

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

Operating margin

FYE Mar 2026 20.4%

Average · 10 yrs 12.3%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	6.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	7.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	5.7	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2021	3.7	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2022	11.8	moved to IFRS	Cons. · IFRS
FYE Mar 2023	18.4	+6.6pp	Cons. · IFRS
FYE Mar 2024	20.8	+2.4pp	Cons. · IFRS
FYE Mar 2025	21.3	+0.5pp	Cons. · IFRS
FYE Mar 2026	20.4	−0.9pp	Cons. · IFRS

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

Ordinary margin

FYE Mar 2026 n/a

Average · 5 yrs 6.7%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	6.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.5	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	8.0	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	6.4	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	4.8	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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

Net margin

FYE Mar 2026 13.7%

Average · 10 yrs 6.7%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	5.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	1.2	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2021	2.8	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	8.8	moved to IFRS	Cons. · IFRS
FYE Mar 2023	16.9	+8.1pp	Cons. · IFRS
FYE Mar 2024	-21.0	−37.9pp	Cons. · IFRS
FYE Mar 2025	30.3	+51.3pp	Cons. · IFRS
FYE Mar 2026	13.7	−16.6pp	Cons. · IFRS

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

Cost-of-sales ratio

FYE Mar 2026 53.5%

Average · 10 yrs 68.5%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	84.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	82.7	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	81.9	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	80.2	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	81.4	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2022	57.7	moved to IFRS	Cons. · IFRS
FYE Mar 2023	55.3	−2.4pp	Cons. · IFRS
FYE Mar 2024	54.3	−0.9pp	Cons. · IFRS
FYE Mar 2025	53.6	−0.7pp	Cons. · IFRS
FYE Mar 2026	53.5	−0.1pp	Cons. · IFRS

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

SG&A ratio

FYE Mar 2026 28.3%

Average · 10 yrs 20.5%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	9.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.5	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	11.0	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	14.1	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2021	14.9	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	33.0	moved to IFRS	Cons. · IFRS
FYE Mar 2023	28.5	−4.5pp	Cons. · IFRS
FYE Mar 2024	27.2	−1.3pp	Cons. · IFRS
FYE Mar 2025	27.9	+0.8pp	Cons. · IFRS
FYE Mar 2026	28.3	+0.4pp	Cons. · IFRS

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

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

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥324bn

CAGR · 10 yrs +14.0%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	99.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	126	+26.8%	Cons. · Japanese GAAP
FYE Mar 2019	148	+17.8%	Cons. · Japanese GAAP
FYE Mar 2020	228	+53.6%	Cons. · Japanese GAAP
FYE Mar 2021	236	+3.6%	Cons. · Japanese GAAP
FYE Mar 2022	260	moved to IFRS	Cons. · IFRS
FYE Mar 2023	323	+24.0%	Cons. · IFRS
FYE Mar 2024	290	−10.1%	Cons. · IFRS
FYE Mar 2025	303	+4.5%	Cons. · IFRS
FYE Mar 2026	324	+7.0%	Cons. · IFRS

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

Equity net assets, shareholders' equity

FYE Mar 2026 ¥83bn

CAGR · 10 yrs +8.6%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	39.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	42.3	+7.5%	Cons. · Japanese GAAP
FYE Mar 2019	52.2	+23.5%	Cons. · Japanese GAAP
FYE Mar 2020	49.3	−5.5%	Cons. · Japanese GAAP
FYE Mar 2021	60.0	+21.6%	Cons. · Japanese GAAP
FYE Mar 2022	62.3	moved to IFRS	Cons. · IFRS
FYE Mar 2023	67.4	+8.3%	Cons. · IFRS
FYE Mar 2024	36.9	−45.3%	Cons. · IFRS
FYE Mar 2025	65.9	+78.6%	Cons. · IFRS
FYE Mar 2026	82.6	+25.3%	Cons. · IFRS

Definition: The part of the funding that never has to be repaid
Formula: Net assets line of the balance sheet
Source: Securities report (XBRL)

Interest-bearing debt

FYE Mar 2026 ¥51bn

CAGR · 10 yrs +12.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	18.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.4	−31.5%	Cons. · Japanese GAAP
FYE Mar 2019	17.8	+43.6%	Cons. · Japanese GAAP
FYE Mar 2020	69.3	+289.0%	Cons. · Japanese GAAP
FYE Mar 2021	103	+49.2%	Cons. · Japanese GAAP
FYE Mar 2022	90.4	moved to IFRS	Cons. · IFRS
FYE Mar 2023	81.8	−9.6%	Cons. · IFRS
FYE Mar 2024	82.3	+0.7%	Cons. · IFRS
FYE Mar 2025	55.2	−32.9%	Cons. · IFRS
FYE Mar 2026	50.6	−8.3%	Cons. · IFRS

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

Short-term borrowings

FYE Mar 2026 ¥12bn

CAGR · 10 yrs −0.5%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	12.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.0	−44.6%	Cons. · Japanese GAAP
FYE Mar 2019	5.6	−20.6%	Cons. · Japanese GAAP
FYE Mar 2020	19.8	+255.9%	Cons. · Japanese GAAP
FYE Mar 2021	12.6	−36.5%	Cons. · Japanese GAAP
FYE Mar 2022	19.7	moved to IFRS	Cons. · IFRS
FYE Mar 2023	29.8	+51.1%	Cons. · IFRS
FYE Mar 2024	37.3	+25.1%	Cons. · IFRS
FYE Mar 2025	12.1	−67.6%	Cons. · IFRS
FYE Mar 2026	12.1	−0.0%	Cons. · IFRS

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 ¥39bn

CAGR · 10 yrs +24.3%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.4	−1.0%	Cons. · Japanese GAAP
FYE Mar 2019	12.2	+127.3%	Cons. · Japanese GAAP
FYE Mar 2020	49.4	+304.0%	Cons. · Japanese GAAP
FYE Mar 2021	54.3	+9.8%	Cons. · Japanese GAAP
FYE Mar 2022	70.7	moved to IFRS	Cons. · IFRS
FYE Mar 2023	52.0	−26.5%	Cons. · IFRS
FYE Mar 2024	45.0	−13.3%	Cons. · IFRS
FYE Mar 2025	43.2	−4.2%	Cons. · IFRS
FYE Mar 2026	38.5	−10.7%	Cons. · IFRS

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

Intangible assets

FYE Mar 2026 ¥9.5bn

CAGR · 10 yrs −1.2%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.0	+4.1%	Cons. · Japanese GAAP
FYE Mar 2019	12.3	+12.3%	Cons. · Japanese GAAP
FYE Mar 2020	32.8	+166.1%	Cons. · Japanese GAAP
FYE Mar 2021	18.3	−44.2%	Cons. · Japanese GAAP
FYE Mar 2022	20.4	moved to IFRS	Cons. · IFRS
FYE Mar 2023	8.4	−58.7%	Cons. · IFRS
FYE Mar 2024	8.8	+4.9%	Cons. · IFRS
FYE Mar 2025	9.5	+7.9%	Cons. · IFRS
FYE Mar 2026	9.5	−1.0%	Cons. · IFRS

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

Goodwill

FYE Mar 2026 ¥17bn

CAGR · 10 yrs +7.6%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	8.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.5	−3.8%	Cons. · Japanese GAAP
FYE Mar 2019	9.2	+7.4%	Cons. · Japanese GAAP
FYE Mar 2020	15.5	+69.3%	Cons. · Japanese GAAP
FYE Mar 2021	15.4	−0.8%	Cons. · Japanese GAAP
FYE Mar 2022	17.5	moved to IFRS	Cons. · IFRS
FYE Mar 2023	15.8	−9.6%	Cons. · IFRS
FYE Mar 2024	16.5	+4.2%	Cons. · IFRS
FYE Mar 2025	16.7	+1.2%	Cons. · IFRS
FYE Mar 2026	17.1	+2.6%	Cons. · IFRS

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

Equity ratio

FYE Mar 2026 25.5%

Average · 10 yrs 26.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	39.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.6	−6.0pp	Cons. · Japanese GAAP
FYE Mar 2019	35.2	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2020	21.6	−13.6pp	Cons. · Japanese GAAP
FYE Mar 2021	25.4	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2022	23.9	moved to IFRS	Cons. · IFRS
FYE Mar 2023	20.9	−3.0pp	Cons. · IFRS
FYE Mar 2024	12.7	−8.2pp	Cons. · IFRS
FYE Mar 2025	21.7	+9.0pp	Cons. · IFRS
FYE Mar 2026	25.5	+3.7pp	Cons. · IFRS

Definition: How much of the balance sheet is funded without debt
Formula: Equity ÷ total assets
Source: Securities report (XBRL)

Debt-to-equity ratio D/E ratio

FYE Mar 2026 61.3%

Average · 10 yrs 105.7%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	46.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.3	−16.7pp	Cons. · Japanese GAAP
FYE Mar 2019	34.1	+4.8pp	Cons. · Japanese GAAP
FYE Mar 2020	140.4	+106.3pp	Cons. · Japanese GAAP
FYE Mar 2021	172.2	+31.9pp	Cons. · Japanese GAAP
FYE Mar 2022	145.2	moved to IFRS	Cons. · IFRS
FYE Mar 2023	121.3	−23.9pp	Cons. · IFRS
FYE Mar 2024	223.1	+101.8pp	Cons. · IFRS
FYE Mar 2025	83.8	−139.3pp	Cons. · IFRS
FYE Mar 2026	61.3	−22.5pp	Cons. · IFRS

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

ROE return on equity

FYE Mar 2026 25.0%

Average · 10 yrs 16.5%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	23.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.5	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2019	24.9	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	7.7	−17.2pp	Cons. · Japanese GAAP
FYE Mar 2021	15.6	+7.9pp	Cons. · Japanese GAAP
FYE Mar 2022	22.1	moved to IFRS	Cons. · IFRS
FYE Mar 2023	31.0	+8.9pp	Cons. · IFRS
FYE Mar 2024	-75.4	−106.3pp	Cons. · IFRS
FYE Mar 2025	65.7	+141.1pp	Cons. · IFRS
FYE Mar 2026	25.0	−40.7pp	Cons. · IFRS

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

ROA return on assets

FYE Mar 2026 6.4%

Average · 10 yrs 5.5%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.6	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	8.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	1.7	−7.1pp	Cons. · Japanese GAAP
FYE Mar 2021	4.0	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2022	5.3	moved to IFRS	Cons. · IFRS
FYE Mar 2023	6.5	+1.2pp	Cons. · IFRS
FYE Mar 2024	-9.6	−16.1pp	Cons. · IFRS
FYE Mar 2025	14.3	+23.9pp	Cons. · IFRS
FYE Mar 2026	6.4	−7.9pp	Cons. · IFRS

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

Asset turnover

FYE Mar 2026 0.47×

CAGR · 10 yrs −15.2%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	2.06	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.79	−13.3%	Cons. · Japanese GAAP
FYE Mar 2019	1.69	−5.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.37	−18.8%	Cons. · Japanese GAAP
FYE Mar 2021	1.41	+2.9%	Cons. · Japanese GAAP
FYE Mar 2022	0.60	moved to IFRS	Cons. · IFRS
FYE Mar 2023	0.38	−36.3%	Cons. · IFRS
FYE Mar 2024	0.46	+19.2%	Cons. · IFRS
FYE Mar 2025	0.47	+3.2%	Cons. · IFRS
FYE Mar 2026	0.47	−1.2%	Cons. · IFRS

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥23bn

CAGR · 10 yrs +41.0%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.9	+765.7%	Cons. · Japanese GAAP
FYE Mar 2019	11.6	+31.1%	Cons. · Japanese GAAP
FYE Mar 2020	15.3	+31.9%	Cons. · Japanese GAAP
FYE Mar 2021	24.0	+56.9%	Cons. · Japanese GAAP
FYE Mar 2022	17.9	moved to IFRS	Cons. · IFRS
FYE Mar 2023	5.4	−69.9%	Cons. · IFRS
FYE Mar 2024	18.7	+246.5%	Cons. · IFRS
FYE Mar 2025	25.9	+38.9%	Cons. · IFRS
FYE Mar 2026	22.5	−13.1%	Cons. · IFRS

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

Investing cash flow

FYE Mar 2026 -¥8.9bn

Average · 10 yrs -¥5.9bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-3.8	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-55.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-8.2	moved to IFRS	Cons. · IFRS
FYE Mar 2023	10.0	n/a	Cons. · IFRS
FYE Mar 2024	-5.8	−157.9%	Cons. · IFRS
FYE Mar 2025	30.0	n/a	Cons. · IFRS
FYE Mar 2026	-8.9	−129.6%	Cons. · IFRS

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

Financing cash flow

FYE Mar 2026 -¥15bn

Average · 10 yrs -¥4.6bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.0	+261.0%	Cons. · Japanese GAAP
FYE Mar 2019	-8.2	−162.8%	Cons. · Japanese GAAP
FYE Mar 2020	48.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-5.5	−111.5%	Cons. · Japanese GAAP
FYE Mar 2022	-16.0	moved to IFRS	Cons. · IFRS
FYE Mar 2023	-17.0	n/a	Cons. · IFRS
FYE Mar 2024	-7.8	n/a	Cons. · IFRS
FYE Mar 2025	-41.3	n/a	Cons. · IFRS
FYE Mar 2026	-14.9	n/a	Cons. · IFRS

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

Cash and equivalents

FYE Mar 2026 ¥63bn

CAGR · 10 yrs +18.9%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	13.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.9	+109.9%	Cons. · Japanese GAAP
FYE Mar 2019	27.4	−1.8%	Cons. · Japanese GAAP
FYE Mar 2020	33.5	+22.1%	Cons. · Japanese GAAP
FYE Mar 2021	49.2	+47.0%	Cons. · Japanese GAAP
FYE Mar 2022	44.3	moved to IFRS	Cons. · IFRS
FYE Mar 2023	43.7	−1.3%	Cons. · IFRS
FYE Mar 2024	49.5	+13.2%	Cons. · IFRS
FYE Mar 2025	64.0	+29.4%	Cons. · IFRS
FYE Mar 2026	63.4	−1.0%	Cons. · IFRS

Definition: Cash on hand at the year end
Formula: Closing balance in the cash flow statement
Source: Securities report (XBRL)

Free cash flow

FYE Mar 2026 ¥14bn

Average · 10 yrs ¥9.2bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-3.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	7.8	+460.2%	Cons. · Japanese GAAP
FYE Mar 2020	-40.0	−610.3%	Cons. · Japanese GAAP
FYE Mar 2021	18.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	9.6	moved to IFRS	Cons. · IFRS
FYE Mar 2023	15.4	+60.0%	Cons. · IFRS
FYE Mar 2024	12.9	−16.5%	Cons. · IFRS
FYE Mar 2025	55.9	+334.5%	Cons. · IFRS
FYE Mar 2026	13.7	−75.6%	Cons. · IFRS

Definition: What is left once the business has paid for its own investment
Formula: Operating cash flow + investing cash flow
Source: Securities report (XBRL)

Operating cash flow margin

FYE Mar 2026 14.9%

Average · 10 yrs 8.4%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.9	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2019	4.6	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	4.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	7.2	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2022	11.4	moved to IFRS	Cons. · IFRS
FYE Mar 2023	4.4	−7.1pp	Cons. · IFRS
FYE Mar 2024	14.1	+9.7pp	Cons. · IFRS
FYE Mar 2025	18.2	+4.1pp	Cons. · IFRS
FYE Mar 2026	14.9	−3.2pp	Cons. · IFRS

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

Net cash

FYE Mar 2026 ¥13bn

Average · 10 yrs -¥17bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-4.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	9.6	−38.0%	Cons. · Japanese GAAP
FYE Mar 2020	-35.8	−471.7%	Cons. · Japanese GAAP
FYE Mar 2021	-54.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-46.2	moved to IFRS	Cons. · IFRS
FYE Mar 2023	-38.1	n/a	Cons. · IFRS
FYE Mar 2024	-32.8	n/a	Cons. · IFRS
FYE Mar 2025	8.8	n/a	Cons. · IFRS
FYE Mar 2026	12.8	+45.3%	Cons. · IFRS

Definition: Cash on hand once the borrowings are paid off
Formula: Cash and equivalents − interest-bearing debt
Source: Securities report (XBRL)

Shares and share price Shares outstanding, price, market capitalisation and the valuation multiples

Market capitalisation

FYE Mar 2026 ¥290bn

Change · 9 yrs +¥7.5bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	282	n/a
FYE Mar 2018	451	n/a
FYE Mar 2019	476	n/a
FYE Mar 2020	347	n/a
FYE Mar 2021	358	n/a
FYE Mar 2022	280	n/a
FYE Mar 2023	322	n/a
FYE Mar 2024	n/a	n/a
FYE Mar 2025	285	n/a
FYE Mar 2026	290	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 1,892¥

Change · 9 yrs −16,549¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	18,441	n/a
FYE Mar 2018	2,948	n/a
FYE Mar 2019	3,113	n/a
FYE Mar 2020	2,266	n/a
FYE Mar 2021	2,341	n/a
FYE Mar 2022	1,830	n/a
FYE Mar 2023	2,104	n/a
FYE Mar 2024	n/a	n/a
FYE Mar 2025	1,865	n/a
FYE Mar 2026	1,892	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 153,016,200shares

Change · 10 yrs +137,721,080 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	15,295,120	Parent
FYE Mar 2018	152,951,200	Parent
FYE Mar 2019	152,951,200	Parent
FYE Mar 2020	152,951,200	Parent
FYE Mar 2021	152,951,200	Parent
FYE Mar 2022	153,016,200	Parent
FYE Mar 2023	153,016,200	Parent
FYE Mar 2024	153,016,200	Parent
FYE Mar 2025	153,016,200	Parent
FYE Mar 2026	153,016,200	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 137.11¥

Change · 10 yrs +75.64¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	61.47	Cons.
FYE Mar 2018	71.91	Cons.
FYE Mar 2019	87.20	Cons.
FYE Mar 2020	25.35	Cons.
FYE Mar 2021	55.35	Cons.
FYE Mar 2022	102.79	Cons.
FYE Mar 2023	136.62	Cons.
FYE Mar 2024	-181.93	Cons.
FYE Mar 2025	286.85	Cons.
FYE Mar 2026	137.11	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 539.54¥

Change · 10 yrs −2,033.31¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	2,572.85	Cons. · Japanese GAAP
FYE Mar 2018	276.56	Cons. · Japanese GAAP
FYE Mar 2019	341.56	Cons. · Japanese GAAP
FYE Mar 2020	322.65	Cons. · Japanese GAAP
FYE Mar 2021	392.18	Cons. · Japanese GAAP
FYE Mar 2022	406.96	Cons. · IFRS
FYE Mar 2023	440.55	Cons. · IFRS
FYE Mar 2024	241.14	Cons. · IFRS
FYE Mar 2025	430.57	Cons. · IFRS
FYE Mar 2026	539.54	Cons. · IFRS

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

PER price-to-earnings ratio

FYE Mar 2026 13.80×

Average · 9 yrs 32.43×

Fiscal year	PER ×	Basis
FYE Mar 2017	30.00	Cons.
FYE Mar 2018	41.00	Cons.
FYE Mar 2019	35.70	Cons.
FYE Mar 2020	89.40	Cons.
FYE Mar 2021	42.30	Cons.
FYE Mar 2022	17.80	Cons.
FYE Mar 2023	15.40	Cons.
FYE Mar 2024	n/a	Cons.
FYE Mar 2025	6.50	Cons.
FYE Mar 2026	13.80	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 3.39×

Average · 9 yrs 7.14×

Fiscal year	PBR ×	Basis
FYE Mar 2017	7.03	Cons.
FYE Mar 2018	10.40	Cons.
FYE Mar 2019	8.90	Cons.
FYE Mar 2020	11.46	Cons.
FYE Mar 2021	9.20	Cons.
FYE Mar 2022	5.14	Cons.
FYE Mar 2023	4.69	Cons.
FYE Mar 2024	n/a	Cons.
FYE Mar 2025	4.09	Cons.
FYE Mar 2026	3.39	Cons.

Definition: The price measured against the book value behind it
Formula: Year-end price ÷ BPS
Source: Securities report (XBRL)

Workforce and productivity Headcount, pay and what each employee accounts for

Group employees

FYE Mar 2026 3,451people

Change · 10 yrs +1,625 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	1,826	n/a	Cons.
FYE Mar 2018	2,095	+14.7%	Cons.
FYE Mar 2019	2,302	+9.9%	Cons.
FYE Mar 2020	4,280	+85.9%	Cons.
FYE Mar 2021	4,208	−1.7%	Cons.
FYE Mar 2022	4,297	+2.1%	Cons.
FYE Mar 2023	2,955	−31.2%	Cons.
FYE Mar 2024	3,100	+4.9%	Cons.
FYE Mar 2025	3,334	+7.5%	Cons.
FYE Mar 2026	3,451	+3.5%	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 126people

Change · 10 yrs +45 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	81	n/a	Parent
FYE Mar 2018	87	+7.4%	Parent
FYE Mar 2019	88	+1.1%	Parent
FYE Mar 2020	109	+23.9%	Parent
FYE Mar 2021	113	+3.7%	Parent
FYE Mar 2022	119	+5.3%	Parent
FYE Mar 2023	126	+5.9%	Parent
FYE Mar 2024	121	−4.0%	Parent
FYE Mar 2025	128	+5.8%	Parent
FYE Mar 2026	126	−1.6%	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 616万円

Change · 8 yrs +63万円

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	554	n/a	Parent
FYE Mar 2020	546	−1.3%	Parent
FYE Mar 2021	581	+6.3%	Parent
FYE Mar 2022	563	−3.0%	Parent
FYE Mar 2023	586	+4.0%	Parent
FYE Mar 2024	592	+1.0%	Parent
FYE Mar 2025	593	+0.3%	Parent
FYE Mar 2026	616	+3.9%	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 40.1years

Change · 8 yrs −0.3 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	40.4	n/a	Parent
FYE Mar 2020	40.7	+0.7%	Parent
FYE Mar 2021	40.3	−1.0%	Parent
FYE Mar 2022	39.2	−2.7%	Parent
FYE Mar 2023	39.9	+1.8%	Parent
FYE Mar 2024	39.7	−0.5%	Parent
FYE Mar 2025	40.2	+1.3%	Parent
FYE Mar 2026	40.1	−0.2%	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 8.1years

Change · 8 yrs +1.6 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	6.5	n/a	Parent
FYE Mar 2020	6.3	−3.1%	Parent
FYE Mar 2021	6.9	+9.5%	Parent
FYE Mar 2022	6.6	−4.3%	Parent
FYE Mar 2023	7.3	+10.6%	Parent
FYE Mar 2024	7.7	+5.5%	Parent
FYE Mar 2025	7.8	+1.3%	Parent
FYE Mar 2026	8.1	+3.8%	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 2,114people

Change · 10 yrs +742 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	1,372	n/a	n/a
FYE Mar 2018	1,682	+22.6%	n/a
FYE Mar 2019	1,832	+8.9%	n/a
FYE Mar 2020	2,105	+14.9%	n/a
FYE Mar 2021	2,072	−1.6%	n/a
FYE Mar 2022	2,135	+3.0%	n/a
FYE Mar 2023	2,132	−0.1%	n/a
FYE Mar 2024	2,164	+1.5%	n/a
FYE Mar 2025	2,148	−0.7%	n/a
FYE Mar 2026	2,114	−1.6%	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 ¥43.8m

Change · 10 yrs −¥68.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	112	n/a	Cons.
FYE Mar 2018	108	−4.2%	Cons.
FYE Mar 2019	109	+1.3%	Cons.
FYE Mar 2020	73.1	−32.9%	Cons.
FYE Mar 2021	79.3	+8.4%	Cons.
FYE Mar 2022	36.4	n/a	Cons.
FYE Mar 2023	41.9	+14.9%	Cons.
FYE Mar 2024	42.8	+2.2%	Cons.
FYE Mar 2025	42.9	+0.2%	Cons.
FYE Mar 2026	43.8	+2.1%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥8.9m

Change · 10 yrs +¥1.7m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	7.3	n/a	Cons.
FYE Mar 2018	7.3	+0.9%	Cons.
FYE Mar 2019	7.8	+5.9%	Cons.
FYE Mar 2020	4.2	−46.2%	Cons.
FYE Mar 2021	3.0	−28.9%	Cons.
FYE Mar 2022	4.3	n/a	Cons.
FYE Mar 2023	7.7	+78.7%	Cons.
FYE Mar 2024	8.9	+15.7%	Cons.
FYE Mar 2025	9.1	+2.5%	Cons.
FYE Mar 2026	8.9	−2.2%	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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