Financials

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

FYE Mar 2026 · Revenue¥655bnYoY +3.8%

FYE Mar 2026 · Operating profit¥72bnYoY −3.7%

FYE Mar 2026 · Net profit¥56bnYoY +8.4%

FYE Mar 2026 · Equity ratio33.0%YoY +1.4pp

FYE Mar 2026 · Group employees18,148YoY −99

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥569bn	n/a	¥68bn	n/a	12.0%	¥36bn	Nezu Yoshizumi	—
FYE Mar 2018Consolidated	¥570bn	+0.1%	¥67bn	−2.5%	11.7%	¥36bn	Nezu Yoshizumi	—
FYE Mar 2019Consolidated	¥618bn	+8.4%	¥67bn	+1.0%	10.9%	¥28bn	Nezu Yoshizumi	Tobu Store becomes a wholly owned subsidiary
FYE Mar 2020Consolidated	¥654bn	+5.9%	¥63bn	−6.9%	9.6%	¥36bn	Nezu Yoshizumi	—
FYE Mar 2021Consolidated	¥496bn	−24.1%	-¥14bn	−121.7%	-2.7%	-¥25bn	Nezu Yoshizumi	—
FYE Mar 2022Consolidated	¥506bn	+2.0%	¥25bn	n/a	4.9%	¥13bn	Nezu Yoshizumi	—
FYE Mar 2023Consolidated	¥615bn	+21.5%	¥57bn	+129.2%	9.2%	¥29bn	Nezu Yoshizumi	—
FYE Mar 2024Consolidated	¥636bn	+3.5%	¥74bn	+30.3%	11.6%	¥48bn	Nezu Yoshizumi	—
FYE Mar 2025Consolidated	¥631bn	−0.7%	¥75bn	+1.0%	11.8%	¥51bn	Tsuzuki Yutaka	—
FYE Mar 2026Consolidated	¥655bn	+3.8%	¥72bn	−3.7%	11.0%	¥56bn	Tsuzuki Yutaka	—

How it compares

Kintetsu Group Holdings¥1.75tnFY2025Operating margin 5.1%Hankyu Hanshin Holdings¥1.20tnFY2025Operating margin 10.6%Tokyu¥1.09tnFY2025Operating margin 9.5%Nagoya Railroad¥692bnFY2025Operating margin 5.2%

Tobu Railway¥655bnFY2025Operating margin 11.0%

Seibu Holdings¥513bnFY2025Operating margin 8.9%Keio¥497bnFY2025Operating margin 10.5%

Nishinihontetsudou¥474bnFY2025Operating margin 6.4%

Seibu Railway Co., Ltd.Delisted 2004

Tokyo Metro¥422bnFY2025Operating margin 21.2%

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 ¥655bn

CAGR · 10 yrs +1.6%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	569	n/a	Cons. · Japanese GAAP
FYE Mar 2018	570	+0.1%	Cons. · Japanese GAAP
FYE Mar 2019	618	+8.4%	Cons. · Japanese GAAP
FYE Mar 2020	654	+5.9%	Cons. · Japanese GAAP
FYE Mar 2021	496	−24.1%	Cons. · Japanese GAAP
FYE Mar 2022	506	+2.0%	Cons. · Japanese GAAP
FYE Mar 2023	615	+21.5%	Cons. · Japanese GAAP
FYE Mar 2024	636	+3.5%	Cons. · Japanese GAAP
FYE Mar 2025	631	−0.7%	Cons. · Japanese GAAP
FYE Mar 2026	655	+3.8%	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 ¥453bn

CAGR · 10 yrs +1.6%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	394	n/a	Cons. · Japanese GAAP
FYE Mar 2018	397	+0.7%	Cons. · Japanese GAAP
FYE Mar 2019	433	+9.2%	Cons. · Japanese GAAP
FYE Mar 2020	467	+7.8%	Cons. · Japanese GAAP
FYE Mar 2021	397	−15.1%	Cons. · Japanese GAAP
FYE Mar 2022	369	−7.1%	Cons. · Japanese GAAP
FYE Mar 2023	441	+19.6%	Cons. · Japanese GAAP
FYE Mar 2024	443	+0.4%	Cons. · Japanese GAAP
FYE Mar 2025	434	−2.1%	Cons. · Japanese GAAP
FYE Mar 2026	453	+4.5%	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 ¥202bn

CAGR · 10 yrs +1.6%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	175	n/a	Cons. · Japanese GAAP
FYE Mar 2018	173	−1.2%	Cons. · Japanese GAAP
FYE Mar 2019	184	+6.6%	Cons. · Japanese GAAP
FYE Mar 2020	187	+1.4%	Cons. · Japanese GAAP
FYE Mar 2021	99.7	−46.6%	Cons. · Japanese GAAP
FYE Mar 2022	137	+37.8%	Cons. · Japanese GAAP
FYE Mar 2023	174	+26.5%	Cons. · Japanese GAAP
FYE Mar 2024	193	+11.1%	Cons. · Japanese GAAP
FYE Mar 2025	198	+2.4%	Cons. · Japanese GAAP
FYE Mar 2026	202	+2.3%	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 ¥130bn

CAGR · 10 yrs +2.2%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	107	n/a	Cons. · Japanese GAAP
FYE Mar 2018	106	−0.4%	Cons. · Japanese GAAP
FYE Mar 2019	117	+10.1%	Cons. · Japanese GAAP
FYE Mar 2020	124	+6.1%	Cons. · Japanese GAAP
FYE Mar 2021	113	−8.7%	Cons. · Japanese GAAP
FYE Mar 2022	113	−0.5%	Cons. · Japanese GAAP
FYE Mar 2023	117	+3.9%	Cons. · Japanese GAAP
FYE Mar 2024	119	+1.8%	Cons. · Japanese GAAP
FYE Mar 2025	123	+3.3%	Cons. · Japanese GAAP
FYE Mar 2026	130	+5.9%	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 ¥72bn

CAGR · 10 yrs +0.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	68.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	66.6	−2.5%	Cons. · Japanese GAAP
FYE Mar 2019	67.3	+1.0%	Cons. · Japanese GAAP
FYE Mar 2020	62.7	−6.9%	Cons. · Japanese GAAP
FYE Mar 2021	-13.6	−121.7%	Cons. · Japanese GAAP
FYE Mar 2022	24.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	56.7	+129.2%	Cons. · Japanese GAAP
FYE Mar 2024	73.9	+30.3%	Cons. · Japanese GAAP
FYE Mar 2025	74.6	+1.0%	Cons. · Japanese GAAP
FYE Mar 2026	71.9	−3.7%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥6.1bn

CAGR · 10 yrs +3.4%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.9	+7.2%	Cons. · Japanese GAAP
FYE Mar 2019	4.3	−12.0%	Cons. · Japanese GAAP
FYE Mar 2020	4.1	−4.2%	Cons. · Japanese GAAP
FYE Mar 2021	11.9	+190.7%	Cons. · Japanese GAAP
FYE Mar 2022	11.9	−0.2%	Cons. · Japanese GAAP
FYE Mar 2023	5.3	−55.3%	Cons. · Japanese GAAP
FYE Mar 2024	5.2	−1.7%	Cons. · Japanese GAAP
FYE Mar 2025	5.8	+10.7%	Cons. · Japanese GAAP
FYE Mar 2026	6.1	+5.6%	Cons. · Japanese GAAP

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

Non-operating expenses

FYE Mar 2026 ¥9.1bn

CAGR · 10 yrs −1.8%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	10.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.2	−14.1%	Cons. · Japanese GAAP
FYE Mar 2019	8.6	−6.7%	Cons. · Japanese GAAP
FYE Mar 2020	8.3	−3.1%	Cons. · Japanese GAAP
FYE Mar 2021	8.2	−1.2%	Cons. · Japanese GAAP
FYE Mar 2022	9.2	+12.0%	Cons. · Japanese GAAP
FYE Mar 2023	7.2	−22.0%	Cons. · Japanese GAAP
FYE Mar 2024	7.1	−1.6%	Cons. · Japanese GAAP
FYE Mar 2025	7.7	+8.4%	Cons. · Japanese GAAP
FYE Mar 2026	9.1	+19.2%	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 ¥69bn

CAGR · 10 yrs +1.1%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	62.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	62.3	+0.3%	Cons. · Japanese GAAP
FYE Mar 2019	63.0	+1.1%	Cons. · Japanese GAAP
FYE Mar 2020	58.4	−7.2%	Cons. · Japanese GAAP
FYE Mar 2021	-9.9	−116.9%	Cons. · Japanese GAAP
FYE Mar 2022	27.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	54.8	+100.0%	Cons. · Japanese GAAP
FYE Mar 2024	72.0	+31.4%	Cons. · Japanese GAAP
FYE Mar 2025	72.7	+0.9%	Cons. · Japanese GAAP
FYE Mar 2026	68.8	−5.3%	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 ¥19bn

CAGR · 10 yrs +8.8%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	9.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.0	+21.6%	Cons. · Japanese GAAP
FYE Mar 2019	6.4	−42.1%	Cons. · Japanese GAAP
FYE Mar 2020	4.3	−32.4%	Cons. · Japanese GAAP
FYE Mar 2021	5.0	+16.7%	Cons. · Japanese GAAP
FYE Mar 2022	3.0	−39.8%	Cons. · Japanese GAAP
FYE Mar 2023	8.7	+189.5%	Cons. · Japanese GAAP
FYE Mar 2024	52.0	+495.4%	Cons. · Japanese GAAP
FYE Mar 2025	13.6	−73.8%	Cons. · Japanese GAAP
FYE Mar 2026	19.4	+42.0%	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 ¥56bn

CAGR · 10 yrs +4.9%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	36.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.0	−0.3%	Cons. · Japanese GAAP
FYE Mar 2019	28.0	−22.2%	Cons. · Japanese GAAP
FYE Mar 2020	35.5	+26.8%	Cons. · Japanese GAAP
FYE Mar 2021	-25.0	−170.3%	Cons. · Japanese GAAP
FYE Mar 2022	13.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	29.2	+116.9%	Cons. · Japanese GAAP
FYE Mar 2024	48.2	+65.1%	Cons. · Japanese GAAP
FYE Mar 2025	51.3	+6.6%	Cons. · Japanese GAAP
FYE Mar 2026	55.6	+8.4%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 30.8%

Average · 10 yrs 28.8%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	30.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	29.8	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	28.6	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	20.1	−8.5pp	Cons. · Japanese GAAP
FYE Mar 2022	27.2	+7.1pp	Cons. · Japanese GAAP
FYE Mar 2023	28.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	30.4	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2025	31.3	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	30.8	−0.5pp	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 11.0%

Average · 10 yrs 9.0%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	12.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	10.9	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	9.6	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	-2.7	−12.3pp	Cons. · Japanese GAAP
FYE Mar 2022	4.9	+7.6pp	Cons. · Japanese GAAP
FYE Mar 2023	9.2	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2024	11.6	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2025	11.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	11.0	−0.9pp	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 10.5%

Average · 10 yrs 8.7%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	10.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	10.2	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	8.9	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	-2.0	−10.9pp	Cons. · Japanese GAAP
FYE Mar 2022	5.4	+7.4pp	Cons. · Japanese GAAP
FYE Mar 2023	8.9	+3.5pp	Cons. · Japanese GAAP
FYE Mar 2024	11.3	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2025	11.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	10.5	−1.0pp	Cons. · Japanese GAAP

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

Net margin

FYE Mar 2026 8.5%

Average · 10 yrs 4.9%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	6.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	4.5	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2020	5.4	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	-5.0	−10.5pp	Cons. · Japanese GAAP
FYE Mar 2022	2.7	+7.7pp	Cons. · Japanese GAAP
FYE Mar 2023	4.7	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	7.6	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2025	8.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	8.5	+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 69.2%

Average · 10 yrs 71.2%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	69.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	70.2	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	71.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	79.9	+8.5pp	Cons. · Japanese GAAP
FYE Mar 2022	72.8	−7.1pp	Cons. · Japanese GAAP
FYE Mar 2023	71.7	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	69.6	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2025	68.7	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	69.2	+0.5pp	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 19.9%

Average · 10 yrs 19.8%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	18.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	18.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	19.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	22.8	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2022	22.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	19.0	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2024	18.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	19.5	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	19.9	+0.4pp	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 ¥1.86tn

CAGR · 10 yrs +1.7%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	1,598	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,618	+1.3%	Cons. · Japanese GAAP
FYE Mar 2019	1,643	+1.5%	Cons. · Japanese GAAP
FYE Mar 2020	1,656	+0.8%	Cons. · Japanese GAAP
FYE Mar 2021	1,682	+1.6%	Cons. · Japanese GAAP
FYE Mar 2022	1,690	+0.4%	Cons. · Japanese GAAP
FYE Mar 2023	1,738	+2.9%	Cons. · Japanese GAAP
FYE Mar 2024	1,704	−2.0%	Cons. · Japanese GAAP
FYE Mar 2025	1,753	+2.9%	Cons. · Japanese GAAP
FYE Mar 2026	1,864	+6.3%	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 ¥616bn

CAGR · 10 yrs +4.3%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	422	n/a	Cons. · Japanese GAAP
FYE Mar 2018	447	+6.0%	Cons. · Japanese GAAP
FYE Mar 2019	461	+3.2%	Cons. · Japanese GAAP
FYE Mar 2020	466	+0.9%	Cons. · Japanese GAAP
FYE Mar 2021	445	−4.4%	Cons. · Japanese GAAP
FYE Mar 2022	453	+1.7%	Cons. · Japanese GAAP
FYE Mar 2023	475	+4.9%	Cons. · Japanese GAAP
FYE Mar 2024	536	+12.8%	Cons. · Japanese GAAP
FYE Mar 2025	555	+3.5%	Cons. · Japanese GAAP
FYE Mar 2026	616	+11.0%	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 ¥590bn

CAGR · 10 yrs +1.0%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	541	n/a	Cons. · Japanese GAAP
FYE Mar 2018	550	+1.6%	Cons. · Japanese GAAP
FYE Mar 2019	549	−0.2%	Cons. · Japanese GAAP
FYE Mar 2020	555	+1.0%	Cons. · Japanese GAAP
FYE Mar 2021	607	+9.3%	Cons. · Japanese GAAP
FYE Mar 2022	582	−4.1%	Cons. · Japanese GAAP
FYE Mar 2023	531	−8.8%	Cons. · Japanese GAAP
FYE Mar 2024	524	−1.2%	Cons. · Japanese GAAP
FYE Mar 2025	555	+5.8%	Cons. · Japanese GAAP
FYE Mar 2026	590	+6.4%	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 ¥107bn

CAGR · 10 yrs +7.7%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	54.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	54.4	−0.4%	Cons. · Japanese GAAP
FYE Mar 2019	45.1	−17.1%	Cons. · Japanese GAAP
FYE Mar 2020	43.5	−3.6%	Cons. · Japanese GAAP
FYE Mar 2021	73.3	+68.7%	Cons. · Japanese GAAP
FYE Mar 2022	63.9	−12.8%	Cons. · Japanese GAAP
FYE Mar 2023	36.4	−43.1%	Cons. · Japanese GAAP
FYE Mar 2024	40.3	+10.8%	Cons. · Japanese GAAP
FYE Mar 2025	73.3	+82.0%	Cons. · Japanese GAAP
FYE Mar 2026	107	+45.8%	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 ¥483bn

CAGR · 10 yrs −0.1%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	487	n/a	Cons. · Japanese GAAP
FYE Mar 2018	554	+13.9%	Cons. · Japanese GAAP
FYE Mar 2019	504	−9.1%	Cons. · Japanese GAAP
FYE Mar 2020	511	+1.4%	Cons. · Japanese GAAP
FYE Mar 2021	533	+4.3%	Cons. · Japanese GAAP
FYE Mar 2022	518	−2.9%	Cons. · Japanese GAAP
FYE Mar 2023	495	−4.5%	Cons. · Japanese GAAP
FYE Mar 2024	484	−2.1%	Cons. · Japanese GAAP
FYE Mar 2025	481	−0.5%	Cons. · Japanese GAAP
FYE Mar 2026	483	+0.4%	Cons. · Japanese GAAP

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

Bonds

FYE Mar 2026 n/a

CAGR · 8 yrs +0.1%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	157	n/a	Cons. · Japanese GAAP
FYE Mar 2019	157	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	168	+6.9%	Cons. · Japanese GAAP
FYE Mar 2021	168	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	168	−0.1%	Cons. · Japanese GAAP
FYE Mar 2023	178	+5.9%	Cons. · Japanese GAAP
FYE Mar 2024	158	−11.2%	Cons. · Japanese GAAP
FYE Mar 2025	158	−0.0%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

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

Intangible assets

FYE Mar 2026 ¥22bn

CAGR · 10 yrs −2.5%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	27.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.7	−35.8%	Cons. · Japanese GAAP
FYE Mar 2019	20.7	+16.6%	Cons. · Japanese GAAP
FYE Mar 2020	17.9	−13.4%	Cons. · Japanese GAAP
FYE Mar 2021	16.3	−9.1%	Cons. · Japanese GAAP
FYE Mar 2022	18.2	+12.0%	Cons. · Japanese GAAP
FYE Mar 2023	19.5	+6.7%	Cons. · Japanese GAAP
FYE Mar 2024	18.6	−4.4%	Cons. · Japanese GAAP
FYE Mar 2025	19.9	+6.7%	Cons. · Japanese GAAP
FYE Mar 2026	22.0	+10.9%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 33.0%

Average · 10 yrs 28.7%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	26.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.6	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	28.1	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	28.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	26.4	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	26.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	27.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2024	31.4	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2025	31.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	33.0	+1.4pp	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 95.9%

Average · 10 yrs 116.0%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	128.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	123.1	−5.2pp	Cons. · Japanese GAAP
FYE Mar 2019	119.0	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2020	119.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	136.4	+17.2pp	Cons. · Japanese GAAP
FYE Mar 2022	128.6	−7.7pp	Cons. · Japanese GAAP
FYE Mar 2023	111.8	−16.8pp	Cons. · Japanese GAAP
FYE Mar 2024	97.9	−14.0pp	Cons. · Japanese GAAP
FYE Mar 2025	100.1	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2026	95.9	−4.2pp	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 9.0%

Average · 10 yrs 6.1%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	8.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	6.1	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2020	7.6	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	-5.6	−13.2pp	Cons. · Japanese GAAP
FYE Mar 2022	3.0	+8.6pp	Cons. · Japanese GAAP
FYE Mar 2023	6.1	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2024	9.0	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2025	9.3	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	9.0	−0.2pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 3.0%

Average · 10 yrs 1.8%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	1.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	2.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	-1.5	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2022	0.8	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	1.7	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	2.8	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	2.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	3.0	+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 0.35×

CAGR · 10 yrs −0.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.36	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.35	−1.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.38	+6.8%	Cons. · Japanese GAAP
FYE Mar 2020	0.39	+5.1%	Cons. · Japanese GAAP
FYE Mar 2021	0.29	−25.3%	Cons. · Japanese GAAP
FYE Mar 2022	0.30	+1.5%	Cons. · Japanese GAAP
FYE Mar 2023	0.35	+18.1%	Cons. · Japanese GAAP
FYE Mar 2024	0.37	+5.5%	Cons. · Japanese GAAP
FYE Mar 2025	0.36	−3.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.35	−2.4%	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 ¥107bn

CAGR · 10 yrs +2.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	87.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	92.0	+5.1%	Cons. · Japanese GAAP
FYE Mar 2019	88.2	−4.1%	Cons. · Japanese GAAP
FYE Mar 2020	101	+14.7%	Cons. · Japanese GAAP
FYE Mar 2021	39.5	−60.9%	Cons. · Japanese GAAP
FYE Mar 2022	66.9	+69.2%	Cons. · Japanese GAAP
FYE Mar 2023	101	+51.3%	Cons. · Japanese GAAP
FYE Mar 2024	91.7	−9.3%	Cons. · Japanese GAAP
FYE Mar 2025	90.1	−1.8%	Cons. · Japanese GAAP
FYE Mar 2026	107	+18.4%	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 -¥83bn

Average · 10 yrs -¥66bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-55.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-67.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-76.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-75.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-66.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-31.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-52.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-61.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-86.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-82.7	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 -¥15bn

Average · 10 yrs -¥20bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-29.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-34.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-8.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-22.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	40.4	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-35.0	−186.7%	Cons. · Japanese GAAP
FYE Mar 2023	-25.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-67.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-14.7	−4664.5%	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 ¥44bn

CAGR · 10 yrs +2.9%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	34.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.0	−26.7%	Cons. · Japanese GAAP
FYE Mar 2019	28.5	+13.9%	Cons. · Japanese GAAP
FYE Mar 2020	31.4	+10.3%	Cons. · Japanese GAAP
FYE Mar 2021	44.9	+43.1%	Cons. · Japanese GAAP
FYE Mar 2022	45.9	+2.1%	Cons. · Japanese GAAP
FYE Mar 2023	69.1	+50.5%	Cons. · Japanese GAAP
FYE Mar 2024	31.3	−54.7%	Cons. · Japanese GAAP
FYE Mar 2025	34.9	+11.8%	Cons. · Japanese GAAP
FYE Mar 2026	44.2	+26.5%	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 ¥24bn

CAGR · 10 yrs −3.0%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	31.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.0	−20.8%	Cons. · Japanese GAAP
FYE Mar 2019	12.1	−51.6%	Cons. · Japanese GAAP
FYE Mar 2020	25.5	+110.9%	Cons. · Japanese GAAP
FYE Mar 2021	-26.8	−205.0%	Cons. · Japanese GAAP
FYE Mar 2022	35.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	48.4	+34.9%	Cons. · Japanese GAAP
FYE Mar 2024	30.1	−37.9%	Cons. · Japanese GAAP
FYE Mar 2025	3.3	−89.0%	Cons. · Japanese GAAP
FYE Mar 2026	23.9	+626.2%	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 16.3%

Average · 10 yrs 14.4%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	15.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	14.3	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2020	15.5	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	8.0	−7.5pp	Cons. · Japanese GAAP
FYE Mar 2022	13.2	+5.3pp	Cons. · Japanese GAAP
FYE Mar 2023	16.4	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2024	14.4	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2025	14.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	16.3	+2.0pp	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 -¥546bn

Average · 10 yrs -¥520bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-507	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-525	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-521	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-524	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-562	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-536	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-462	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-493	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-520	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-546	n/a	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Mar 2026 ¥564bn

Change · 9 yrs −¥43bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	606	n/a
FYE Mar 2018	681	n/a
FYE Mar 2019	679	n/a
FYE Mar 2020	790	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	625	n/a
FYE Mar 2023	664	n/a
FYE Mar 2024	792	n/a
FYE Mar 2025	514	n/a
FYE Mar 2026	564	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 2,857¥

Change · 9 yrs +2,294¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	564	n/a
FYE Mar 2018	3,209	n/a
FYE Mar 2019	3,197	n/a
FYE Mar 2020	3,765	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	2,979	n/a
FYE Mar 2023	3,165	n/a
FYE Mar 2024	3,774	n/a
FYE Mar 2025	2,555	n/a
FYE Mar 2026	2,857	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 197,266,000shares

Change · 10 yrs −878,274,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	1,075,540,000	Parent
FYE Mar 2018	212,313,000	Parent
FYE Mar 2019	212,313,000	Parent
FYE Mar 2020	209,815,000	Parent
FYE Mar 2021	209,815,000	Parent
FYE Mar 2022	209,815,000	Parent
FYE Mar 2023	209,815,000	Parent
FYE Mar 2024	209,815,000	Parent
FYE Mar 2025	201,215,000	Parent
FYE Mar 2026	197,266,000	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 282.92¥

Change · 10 yrs +114.13¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	168.79	Cons.
FYE Mar 2018	168.87	Cons.
FYE Mar 2019	132.65	Cons.
FYE Mar 2020	168.84	Cons.
FYE Mar 2021	-119.67	Cons.
FYE Mar 2022	64.49	Cons.
FYE Mar 2023	140.06	Cons.
FYE Mar 2024	232.99	Cons.
FYE Mar 2025	252.99	Cons.
FYE Mar 2026	282.92	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 3,120.69¥

Change · 10 yrs +2,728.45¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	392.24	Cons. · Japanese GAAP
FYE Mar 2018	2,105.32	Cons. · Japanese GAAP
FYE Mar 2019	2,173.01	Cons. · Japanese GAAP
FYE Mar 2020	2,219.33	Cons. · Japanese GAAP
FYE Mar 2021	2,120.70	Cons. · Japanese GAAP
FYE Mar 2022	2,156.98	Cons. · Japanese GAAP
FYE Mar 2023	2,262.73	Cons. · Japanese GAAP
FYE Mar 2024	2,553.17	Cons. · Japanese GAAP
FYE Mar 2025	2,755.80	Cons. · Japanese GAAP
FYE Mar 2026	3,120.69	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 10.10×

Average · 9 yrs 20.81×

Fiscal year	PER ×	Basis
FYE Mar 2017	16.70	Cons.
FYE Mar 2018	19.00	Cons.
FYE Mar 2019	24.10	Cons.
FYE Mar 2020	22.30	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	46.20	Cons.
FYE Mar 2023	22.60	Cons.
FYE Mar 2024	16.20	Cons.
FYE Mar 2025	10.10	Cons.
FYE Mar 2026	10.10	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 0.91×

Average · 9 yrs 1.35×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.43	Cons.
FYE Mar 2018	1.52	Cons.
FYE Mar 2019	1.46	Cons.
FYE Mar 2020	1.69	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	1.37	Cons.
FYE Mar 2023	1.38	Cons.
FYE Mar 2024	1.46	Cons.
FYE Mar 2025	0.92	Cons.
FYE Mar 2026	0.91	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 18,148people

Change · 10 yrs −1,366 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	19,514	n/a	Cons.
FYE Mar 2018	19,171	−1.8%	Cons.
FYE Mar 2019	20,347	+6.1%	Cons.
FYE Mar 2020	20,112	−1.2%	Cons.
FYE Mar 2021	20,345	+1.2%	Cons.
FYE Mar 2022	19,621	−3.6%	Cons.
FYE Mar 2023	18,599	−5.2%	Cons.
FYE Mar 2024	18,384	−1.2%	Cons.
FYE Mar 2025	18,247	−0.7%	Cons.
FYE Mar 2026	18,148	−0.5%	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 3,214people

Change · 10 yrs −262 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	3,476	n/a	Parent
FYE Mar 2018	3,477	−0.0%	Parent
FYE Mar 2019	3,510	+0.9%	Parent
FYE Mar 2020	3,519	+0.3%	Parent
FYE Mar 2021	3,531	+0.3%	Parent
FYE Mar 2022	3,470	−1.7%	Parent
FYE Mar 2023	3,346	−3.6%	Parent
FYE Mar 2024	3,280	−2.0%	Parent
FYE Mar 2025	3,239	−1.2%	Parent
FYE Mar 2026	3,214	−0.8%	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 745万円

Change · 10 yrs +49万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	696	n/a	Parent
FYE Mar 2018	698	+0.3%	Parent
FYE Mar 2019	714	+2.2%	Parent
FYE Mar 2020	714	−0.0%	Parent
FYE Mar 2021	670	−6.2%	Parent
FYE Mar 2022	634	−5.4%	Parent
FYE Mar 2023	652	+2.9%	Parent
FYE Mar 2024	677	+3.9%	Parent
FYE Mar 2025	710	+4.8%	Parent
FYE Mar 2026	745	+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 47.7years

Change · 8 yrs +1.1 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	46.6	n/a	Parent
FYE Mar 2020	46.7	+0.2%	Parent
FYE Mar 2021	46.9	+0.4%	Parent
FYE Mar 2022	47.2	+0.6%	Parent
FYE Mar 2023	47.5	+0.6%	Parent
FYE Mar 2024	48.1	+1.3%	Parent
FYE Mar 2025	47.8	−0.6%	Parent
FYE Mar 2026	47.7	−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 26.5years

Change · 10 yrs +1.5 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	25.0	n/a	Parent
FYE Mar 2018	25.1	+0.4%	Parent
FYE Mar 2019	25.3	+0.8%	Parent
FYE Mar 2020	25.5	+0.8%	Parent
FYE Mar 2021	25.7	+0.8%	Parent
FYE Mar 2022	26.1	+1.6%	Parent
FYE Mar 2023	26.6	+1.9%	Parent
FYE Mar 2024	27.1	+1.9%	Parent
FYE Mar 2025	26.6	−1.8%	Parent
FYE Mar 2026	26.5	−0.4%	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 11,499people

Change · 10 yrs +3,967 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	7,532	n/a	n/a
FYE Mar 2018	7,088	−5.9%	n/a
FYE Mar 2019	11,909	+68.0%	n/a
FYE Mar 2020	11,779	−1.1%	n/a
FYE Mar 2021	11,494	−2.4%	n/a
FYE Mar 2022	11,051	−3.9%	n/a
FYE Mar 2023	11,456	+3.7%	n/a
FYE Mar 2024	11,090	−3.2%	n/a
FYE Mar 2025	11,131	+0.4%	n/a
FYE Mar 2026	11,499	+3.3%	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 ¥36.1m

Change · 10 yrs +¥7.0m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	29.2	n/a	Cons.
FYE Mar 2018	29.7	+1.9%	Cons.
FYE Mar 2019	30.4	+2.2%	Cons.
FYE Mar 2020	32.5	+7.1%	Cons.
FYE Mar 2021	24.4	−25.0%	Cons.
FYE Mar 2022	25.8	+5.7%	Cons.
FYE Mar 2023	33.1	+28.2%	Cons.
FYE Mar 2024	34.6	+4.7%	Cons.
FYE Mar 2025	34.6	−0.0%	Cons.
FYE Mar 2026	36.1	+4.4%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥4.0m

Change · 10 yrs +¥0.5m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons.
FYE Mar 2018	3.5	−0.7%	Cons.
FYE Mar 2019	3.3	−4.9%	Cons.
FYE Mar 2020	3.1	−5.8%	Cons.
FYE Mar 2021	-0.7	−121.4%	Cons.
FYE Mar 2022	1.3	n/a	Cons.
FYE Mar 2023	3.0	+141.8%	Cons.
FYE Mar 2024	4.0	+31.9%	Cons.
FYE Mar 2025	4.1	+1.7%	Cons.
FYE Mar 2026	4.0	−3.2%	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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