Financials

Keikyu: FYE Mar 2026 and ten years of results (49 metrics)

FYE Mar 2026 · Revenue¥304bnYoY +3.5%

FYE Mar 2026 · Operating profit¥34bnYoY −5.9%

FYE Mar 2026 · Net profit¥27bnYoY +13.1%

FYE Mar 2026 · Equity ratio34.4%YoY −1.3pp

FYE Mar 2026 · Group employees8,177YoY −307

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥310bn	n/a	¥38bn	n/a	12.2%	¥23bn	Harada Kazuyuki	—
FYE Mar 2018Consolidated	¥316bn	+1.9%	¥29bn	−21.9%	9.3%	¥16bn	Harada Kazuyuki	—
FYE Mar 2019Consolidated	¥339bn	+7.5%	¥40bn	+36.2%	11.8%	¥21bn	Harada Kazuyuki	—
FYE Mar 2020Consolidated	¥313bn	−7.8%	¥29bn	−26.5%	9.4%	¥16bn	Harada Kazuyuki	Head office moved from Tokyo to Yokohama
FYE Mar 2021Consolidated	¥235bn	−24.9%	-¥18bn	−162.5%	-7.8%	-¥27bn	Harada Kazuyuki	—
FYE Mar 2022Consolidated	¥265bn	+12.9%	¥3.5bn	n/a	1.3%	¥13bn	Harada Kazuyuki	SHINAGAWA GOOS closes; a ¥27.2bn net loss is booked for FY20
FYE Mar 2023Consolidated	¥253bn	−4.6%	¥11bn	+208.2%	4.3%	¥16bn	Harada Kazuyuki	—
FYE Mar 2024Consolidated	¥281bn	+10.9%	¥28bn	+159.2%	10.0%	¥84bn	Kawamata Yukihiro	—
FYE Mar 2025Consolidated	¥294bn	+4.7%	¥36bn	+27.1%	12.1%	¥24bn	Kawamata Yukihiro	Keikyu Asset Management established
FYE Mar 2026Consolidated	¥304bn	+3.5%	¥34bn	−5.9%	11.0%	¥27bn	Kawamata Yukihiro	—

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%

Keikyu¥304bnFY2025Operating margin 11.0%

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 ¥304bn

CAGR · 10 yrs −0.2%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	310	n/a	Cons. · Japanese GAAP
FYE Mar 2018	316	+1.9%	Cons. · Japanese GAAP
FYE Mar 2019	339	+7.5%	Cons. · Japanese GAAP
FYE Mar 2020	313	−7.8%	Cons. · Japanese GAAP
FYE Mar 2021	235	−24.9%	Cons. · Japanese GAAP
FYE Mar 2022	265	+12.9%	Cons. · Japanese GAAP
FYE Mar 2023	253	−4.6%	Cons. · Japanese GAAP
FYE Mar 2024	281	+10.9%	Cons. · Japanese GAAP
FYE Mar 2025	294	+4.7%	Cons. · Japanese GAAP
FYE Mar 2026	304	+3.5%	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 ¥224bn

CAGR · 10 yrs −0.6%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	237	n/a	Cons. · Japanese GAAP
FYE Mar 2018	251	+6.1%	Cons. · Japanese GAAP
FYE Mar 2019	260	+3.4%	Cons. · Japanese GAAP
FYE Mar 2020	244	−5.9%	Cons. · Japanese GAAP
FYE Mar 2021	217	−11.1%	Cons. · Japanese GAAP
FYE Mar 2022	224	+3.2%	Cons. · Japanese GAAP
FYE Mar 2023	203	−9.2%	Cons. · Japanese GAAP
FYE Mar 2024	211	+3.8%	Cons. · Japanese GAAP
FYE Mar 2025	215	+1.9%	Cons. · Japanese GAAP
FYE Mar 2026	224	+4.1%	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 ¥80bn

CAGR · 10 yrs +1.0%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	73.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	64.6	−11.6%	Cons. · Japanese GAAP
FYE Mar 2019	79.6	+23.2%	Cons. · Japanese GAAP
FYE Mar 2020	68.4	−14.1%	Cons. · Japanese GAAP
FYE Mar 2021	17.9	−73.9%	Cons. · Japanese GAAP
FYE Mar 2022	41.3	+131.2%	Cons. · Japanese GAAP
FYE Mar 2023	49.6	+20.1%	Cons. · Japanese GAAP
FYE Mar 2024	69.4	+39.9%	Cons. · Japanese GAAP
FYE Mar 2025	78.6	+13.3%	Cons. · Japanese GAAP
FYE Mar 2026	80.0	+1.8%	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 ¥46bn

CAGR · 10 yrs +3.1%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	35.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.1	−0.7%	Cons. · Japanese GAAP
FYE Mar 2019	39.5	+12.3%	Cons. · Japanese GAAP
FYE Mar 2020	38.9	−1.4%	Cons. · Japanese GAAP
FYE Mar 2021	36.3	−6.8%	Cons. · Japanese GAAP
FYE Mar 2022	37.8	+4.1%	Cons. · Japanese GAAP
FYE Mar 2023	38.8	+2.6%	Cons. · Japanese GAAP
FYE Mar 2024	41.4	+6.6%	Cons. · Japanese GAAP
FYE Mar 2025	43.0	+3.9%	Cons. · Japanese GAAP
FYE Mar 2026	46.5	+8.2%	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 ¥34bn

CAGR · 10 yrs −1.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	37.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.5	−21.9%	Cons. · Japanese GAAP
FYE Mar 2019	40.1	+36.2%	Cons. · Japanese GAAP
FYE Mar 2020	29.5	−26.5%	Cons. · Japanese GAAP
FYE Mar 2021	-18.4	−162.5%	Cons. · Japanese GAAP
FYE Mar 2022	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	10.8	+208.2%	Cons. · Japanese GAAP
FYE Mar 2024	28.0	+159.2%	Cons. · Japanese GAAP
FYE Mar 2025	35.6	+27.1%	Cons. · Japanese GAAP
FYE Mar 2026	33.6	−5.9%	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 −1.4%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.1	−5.1%	Cons. · Japanese GAAP
FYE Mar 2019	2.4	−22.6%	Cons. · Japanese GAAP
FYE Mar 2020	2.3	−1.4%	Cons. · Japanese GAAP
FYE Mar 2021	3.0	+26.1%	Cons. · Japanese GAAP
FYE Mar 2022	5.9	+98.5%	Cons. · Japanese GAAP
FYE Mar 2023	5.7	−2.8%	Cons. · Japanese GAAP
FYE Mar 2024	5.0	−12.4%	Cons. · Japanese GAAP
FYE Mar 2025	4.2	−16.5%	Cons. · Japanese GAAP
FYE Mar 2026	2.9	−31.7%	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 ¥7.5bn

CAGR · 10 yrs +3.3%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.3	−6.3%	Cons. · Japanese GAAP
FYE Mar 2019	4.8	−9.6%	Cons. · Japanese GAAP
FYE Mar 2020	5.0	+5.2%	Cons. · Japanese GAAP
FYE Mar 2021	4.7	−6.1%	Cons. · Japanese GAAP
FYE Mar 2022	4.3	−8.0%	Cons. · Japanese GAAP
FYE Mar 2023	4.3	−0.6%	Cons. · Japanese GAAP
FYE Mar 2024	4.6	+8.0%	Cons. · Japanese GAAP
FYE Mar 2025	4.8	+4.5%	Cons. · Japanese GAAP
FYE Mar 2026	7.6	+55.8%	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 ¥29bn

CAGR · 10 yrs −2.2%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	35.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.3	−22.9%	Cons. · Japanese GAAP
FYE Mar 2019	37.8	+38.4%	Cons. · Japanese GAAP
FYE Mar 2020	26.8	−29.0%	Cons. · Japanese GAAP
FYE Mar 2021	-20.2	−175.1%	Cons. · Japanese GAAP
FYE Mar 2022	5.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	12.2	+141.5%	Cons. · Japanese GAAP
FYE Mar 2024	28.4	+132.2%	Cons. · Japanese GAAP
FYE Mar 2025	35.0	+23.1%	Cons. · Japanese GAAP
FYE Mar 2026	28.9	−17.5%	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 ¥24bn

CAGR · 10 yrs −19.6%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	170	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.1	−99.4%	Cons. · Japanese GAAP
FYE Mar 2019	2.8	+159.5%	Cons. · Japanese GAAP
FYE Mar 2020	1.4	−48.5%	Cons. · Japanese GAAP
FYE Mar 2021	5.1	+252.2%	Cons. · Japanese GAAP
FYE Mar 2022	19.3	+281.7%	Cons. · Japanese GAAP
FYE Mar 2023	15.1	−22.1%	Cons. · Japanese GAAP
FYE Mar 2024	95.6	+534.5%	Cons. · Japanese GAAP
FYE Mar 2025	44.5	−53.5%	Cons. · Japanese GAAP
FYE Mar 2026	23.9	−46.2%	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 ¥27bn

CAGR · 10 yrs +2.2%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	22.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.2	−28.2%	Cons. · Japanese GAAP
FYE Mar 2019	20.7	+28.2%	Cons. · Japanese GAAP
FYE Mar 2020	15.7	−24.4%	Cons. · Japanese GAAP
FYE Mar 2021	-27.2	−273.9%	Cons. · Japanese GAAP
FYE Mar 2022	12.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	15.8	+26.2%	Cons. · Japanese GAAP
FYE Mar 2024	83.8	+429.5%	Cons. · Japanese GAAP
FYE Mar 2025	24.3	−71.0%	Cons. · Japanese GAAP
FYE Mar 2026	27.5	+13.1%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 26.3%

Average · 10 yrs 21.0%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	23.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.5	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2019	23.5	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2020	21.9	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	7.6	−14.3pp	Cons. · Japanese GAAP
FYE Mar 2022	15.6	+8.0pp	Cons. · Japanese GAAP
FYE Mar 2023	19.6	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2024	24.7	+5.1pp	Cons. · Japanese GAAP
FYE Mar 2025	26.8	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	26.3	−0.4pp	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 7.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	12.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.3	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2019	11.8	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2020	9.4	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2021	-7.8	−17.3pp	Cons. · Japanese GAAP
FYE Mar 2022	1.3	+9.2pp	Cons. · Japanese GAAP
FYE Mar 2023	4.3	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2024	10.0	+5.7pp	Cons. · Japanese GAAP
FYE Mar 2025	12.1	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2026	11.0	−1.1pp	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 9.5%

Average · 10 yrs 6.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	11.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.6	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2019	11.1	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2020	8.6	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2021	-8.6	−17.2pp	Cons. · Japanese GAAP
FYE Mar 2022	1.9	+10.5pp	Cons. · Japanese GAAP
FYE Mar 2023	4.8	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	10.1	+5.3pp	Cons. · Japanese GAAP
FYE Mar 2025	11.9	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	9.5	−2.4pp	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 9.0%

Average · 10 yrs 7.0%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2019	6.1	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	5.0	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	-11.6	−16.6pp	Cons. · Japanese GAAP
FYE Mar 2022	4.7	+16.3pp	Cons. · Japanese GAAP
FYE Mar 2023	6.3	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	29.8	+23.6pp	Cons. · Japanese GAAP
FYE Mar 2025	8.3	−21.6pp	Cons. · Japanese GAAP
FYE Mar 2026	9.0	+0.8pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 73.7%

Average · 10 yrs 79.0%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	76.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	79.5	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2019	76.5	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2020	78.1	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	92.4	+14.3pp	Cons. · Japanese GAAP
FYE Mar 2022	84.4	−8.0pp	Cons. · Japanese GAAP
FYE Mar 2023	80.4	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2024	75.3	−5.1pp	Cons. · Japanese GAAP
FYE Mar 2025	73.2	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	73.7	+0.4pp	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 15.3%

Average · 10 yrs 13.6%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	11.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.1	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	11.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	12.4	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	15.4	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2022	14.2	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	15.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	14.7	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	14.6	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	15.3	+0.7pp	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 ¥1.13tn

CAGR · 10 yrs +3.5%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	827	n/a	Cons. · Japanese GAAP
FYE Mar 2018	877	+6.0%	Cons. · Japanese GAAP
FYE Mar 2019	892	+1.7%	Cons. · Japanese GAAP
FYE Mar 2020	888	−0.4%	Cons. · Japanese GAAP
FYE Mar 2021	929	+4.6%	Cons. · Japanese GAAP
FYE Mar 2022	912	−1.8%	Cons. · Japanese GAAP
FYE Mar 2023	935	+2.5%	Cons. · Japanese GAAP
FYE Mar 2024	1,087	+16.2%	Cons. · Japanese GAAP
FYE Mar 2025	1,040	−4.3%	Cons. · Japanese GAAP
FYE Mar 2026	1,129	+8.6%	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 ¥388bn

CAGR · 10 yrs +5.5%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	239	n/a	Cons. · Japanese GAAP
FYE Mar 2018	253	+5.7%	Cons. · Japanese GAAP
FYE Mar 2019	269	+6.3%	Cons. · Japanese GAAP
FYE Mar 2020	267	−0.8%	Cons. · Japanese GAAP
FYE Mar 2021	247	−7.4%	Cons. · Japanese GAAP
FYE Mar 2022	255	+3.1%	Cons. · Japanese GAAP
FYE Mar 2023	271	+6.5%	Cons. · Japanese GAAP
FYE Mar 2024	355	+31.0%	Cons. · Japanese GAAP
FYE Mar 2025	372	+4.6%	Cons. · Japanese GAAP
FYE Mar 2026	388	+4.5%	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 ¥361bn

CAGR · 10 yrs +0.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	333	n/a	Cons. · Japanese GAAP
FYE Mar 2018	334	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	315	−5.6%	Cons. · Japanese GAAP
FYE Mar 2020	325	+3.1%	Cons. · Japanese GAAP
FYE Mar 2021	360	+11.0%	Cons. · Japanese GAAP
FYE Mar 2022	345	−4.4%	Cons. · Japanese GAAP
FYE Mar 2023	352	+2.3%	Cons. · Japanese GAAP
FYE Mar 2024	362	+2.8%	Cons. · Japanese GAAP
FYE Mar 2025	349	−3.6%	Cons. · Japanese GAAP
FYE Mar 2026	361	+3.5%	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 ¥119bn

CAGR · 10 yrs −0.3%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	122	n/a	Cons. · Japanese GAAP
FYE Mar 2018	130	+6.5%	Cons. · Japanese GAAP
FYE Mar 2019	126	−3.3%	Cons. · Japanese GAAP
FYE Mar 2020	121	−3.5%	Cons. · Japanese GAAP
FYE Mar 2021	126	+3.8%	Cons. · Japanese GAAP
FYE Mar 2022	124	−1.6%	Cons. · Japanese GAAP
FYE Mar 2023	123	−0.9%	Cons. · Japanese GAAP
FYE Mar 2024	133	+8.6%	Cons. · Japanese GAAP
FYE Mar 2025	120	−9.7%	Cons. · Japanese GAAP
FYE Mar 2026	119	−0.9%	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 ¥242bn

CAGR · 10 yrs +1.5%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	212	n/a	Cons. · Japanese GAAP
FYE Mar 2018	204	−3.7%	Cons. · Japanese GAAP
FYE Mar 2019	189	−7.1%	Cons. · Japanese GAAP
FYE Mar 2020	204	+7.6%	Cons. · Japanese GAAP
FYE Mar 2021	235	+15.2%	Cons. · Japanese GAAP
FYE Mar 2022	221	−5.8%	Cons. · Japanese GAAP
FYE Mar 2023	230	+4.0%	Cons. · Japanese GAAP
FYE Mar 2024	229	−0.3%	Cons. · Japanese GAAP
FYE Mar 2025	229	−0.0%	Cons. · Japanese GAAP
FYE Mar 2026	242	+5.7%	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 ¥9.6bn

CAGR · 10 yrs +1.9%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	8.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.7	−5.1%	Cons. · Japanese GAAP
FYE Mar 2019	5.8	−24.5%	Cons. · Japanese GAAP
FYE Mar 2020	7.4	+26.8%	Cons. · Japanese GAAP
FYE Mar 2021	7.2	−2.6%	Cons. · Japanese GAAP
FYE Mar 2022	7.4	+3.2%	Cons. · Japanese GAAP
FYE Mar 2023	8.3	+11.8%	Cons. · Japanese GAAP
FYE Mar 2024	8.2	−1.3%	Cons. · Japanese GAAP
FYE Mar 2025	9.5	+16.3%	Cons. · Japanese GAAP
FYE Mar 2026	9.6	+0.9%	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 34.4%

Average · 10 yrs 30.4%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	28.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	28.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	30.1	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	30.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	26.6	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2022	27.9	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2023	29.0	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	32.7	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2025	35.7	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2026	34.4	−1.3pp	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 93.1%

Average · 10 yrs 121.1%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	139.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	131.9	−7.5pp	Cons. · Japanese GAAP
FYE Mar 2019	117.1	−14.8pp	Cons. · Japanese GAAP
FYE Mar 2020	121.8	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2021	145.9	+24.1pp	Cons. · Japanese GAAP
FYE Mar 2022	135.4	−10.6pp	Cons. · Japanese GAAP
FYE Mar 2023	130.0	−5.3pp	Cons. · Japanese GAAP
FYE Mar 2024	102.0	−28.0pp	Cons. · Japanese GAAP
FYE Mar 2025	94.0	−8.0pp	Cons. · Japanese GAAP
FYE Mar 2026	93.1	−0.9pp	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 7.1%

Average · 10 yrs 6.6%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	9.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.4	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2019	7.7	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	5.9	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2021	-11.0	−16.9pp	Cons. · Japanese GAAP
FYE Mar 2022	4.9	+15.9pp	Cons. · Japanese GAAP
FYE Mar 2023	5.8	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	23.6	+17.7pp	Cons. · Japanese GAAP
FYE Mar 2025	6.5	−17.0pp	Cons. · Japanese GAAP
FYE Mar 2026	7.1	+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 2.4%

Average · 10 yrs 2.1%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.8	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	2.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	1.8	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	-2.9	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2022	1.4	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2023	1.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	7.7	+6.0pp	Cons. · Japanese GAAP
FYE Mar 2025	2.3	−5.4pp	Cons. · Japanese GAAP
FYE Mar 2026	2.4	+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 0.27×

CAGR · 10 yrs −3.6%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.37	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.36	−3.9%	Cons. · Japanese GAAP
FYE Mar 2019	0.38	+5.6%	Cons. · Japanese GAAP
FYE Mar 2020	0.35	−7.5%	Cons. · Japanese GAAP
FYE Mar 2021	0.25	−28.2%	Cons. · Japanese GAAP
FYE Mar 2022	0.29	+14.9%	Cons. · Japanese GAAP
FYE Mar 2023	0.27	−7.0%	Cons. · Japanese GAAP
FYE Mar 2024	0.26	−4.5%	Cons. · Japanese GAAP
FYE Mar 2025	0.28	+9.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.27	−4.6%	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 ¥48bn

CAGR · 10 yrs −2.4%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	59.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	54.4	−8.4%	Cons. · Japanese GAAP
FYE Mar 2019	55.9	+2.7%	Cons. · Japanese GAAP
FYE Mar 2020	49.3	−11.7%	Cons. · Japanese GAAP
FYE Mar 2021	-7.2	−114.6%	Cons. · Japanese GAAP
FYE Mar 2022	58.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	24.8	−57.4%	Cons. · Japanese GAAP
FYE Mar 2024	66.2	+167.1%	Cons. · Japanese GAAP
FYE Mar 2025	14.8	−77.6%	Cons. · Japanese GAAP
FYE Mar 2026	47.9	+222.7%	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 -¥69bn

Average · 10 yrs -¥38bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-75.7	−1405.7%	Cons. · Japanese GAAP
FYE Mar 2019	-41.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-69.9	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-39.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-26.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-24.1	n/a	Cons. · Japanese GAAP
FYE Mar 2024	29.7	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-69.2	−333.4%	Cons. · Japanese GAAP
FYE Mar 2026	-68.7	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 ¥14bn

Average · 10 yrs -¥2.1bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-64.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-12.7	−160.4%	Cons. · Japanese GAAP
FYE Mar 2020	10.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	69.2	+569.3%	Cons. · Japanese GAAP
FYE Mar 2022	-28.4	−141.1%	Cons. · Japanese GAAP
FYE Mar 2023	-5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-3.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-20.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	13.9	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 ¥67bn

CAGR · 10 yrs +4.8%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	44.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	43.7	−0.7%	Cons. · Japanese GAAP
FYE Mar 2019	45.6	+4.3%	Cons. · Japanese GAAP
FYE Mar 2020	35.4	−22.3%	Cons. · Japanese GAAP
FYE Mar 2021	57.5	+62.3%	Cons. · Japanese GAAP
FYE Mar 2022	61.2	+6.6%	Cons. · Japanese GAAP
FYE Mar 2023	57.0	−7.0%	Cons. · Japanese GAAP
FYE Mar 2024	149	+161.7%	Cons. · Japanese GAAP
FYE Mar 2025	74.0	−50.4%	Cons. · Japanese GAAP
FYE Mar 2026	67.0	−9.4%	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 -¥21bn

Average · 10 yrs ¥4.4bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	65.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-21.3	−132.7%	Cons. · Japanese GAAP
FYE Mar 2019	14.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-20.5	−240.8%	Cons. · Japanese GAAP
FYE Mar 2021	-47.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	32.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	0.7	−97.8%	Cons. · Japanese GAAP
FYE Mar 2024	95.9	+13752.3%	Cons. · Japanese GAAP
FYE Mar 2025	-54.4	−156.7%	Cons. · Japanese GAAP
FYE Mar 2026	-20.8	n/a	Cons. · Japanese GAAP

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

Operating cash flow margin

FYE Mar 2026 15.8%

Average · 10 yrs 14.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	19.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.2	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2019	16.5	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	15.8	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	-3.1	−18.8pp	Cons. · Japanese GAAP
FYE Mar 2022	22.0	+25.0pp	Cons. · Japanese GAAP
FYE Mar 2023	9.8	−12.2pp	Cons. · Japanese GAAP
FYE Mar 2024	23.6	+13.8pp	Cons. · Japanese GAAP
FYE Mar 2025	5.1	−18.5pp	Cons. · Japanese GAAP
FYE Mar 2026	15.8	+10.7pp	Cons. · Japanese GAAP

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

Net cash

FYE Mar 2026 -¥294bn

Average · 10 yrs -¥280bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-289	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-290	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-269	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-289	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-303	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-283	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-295	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-213	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-275	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-294	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 ¥421bn

Change · 9 yrs −¥253bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	674	n/a
FYE Mar 2018	510	n/a
FYE Mar 2019	519	n/a
FYE Mar 2020	501	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	346	n/a
FYE Mar 2023	347	n/a
FYE Mar 2024	386	n/a
FYE Mar 2025	417	n/a
FYE Mar 2026	421	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 1,529¥

Change · 9 yrs +306¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,222	n/a
FYE Mar 2018	1,848	n/a
FYE Mar 2019	1,881	n/a
FYE Mar 2020	1,819	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	1,256	n/a
FYE Mar 2023	1,258	n/a
FYE Mar 2024	1,399	n/a
FYE Mar 2025	1,512	n/a
FYE Mar 2026	1,529	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 275,760,547shares

Change · 10 yrs −275,760,547 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	551,521,094	Parent
FYE Mar 2018	275,760,547	Parent
FYE Mar 2019	275,760,547	Parent
FYE Mar 2020	275,760,547	Parent
FYE Mar 2021	275,760,547	Parent
FYE Mar 2022	275,760,547	Parent
FYE Mar 2023	275,760,547	Parent
FYE Mar 2024	275,760,547	Parent
FYE Mar 2025	275,760,547	Parent
FYE Mar 2026	275,760,547	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 101.90¥

Change · 10 yrs +20.15¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	81.75	Cons.
FYE Mar 2018	58.66	Cons.
FYE Mar 2019	75.22	Cons.
FYE Mar 2020	56.83	Cons.
FYE Mar 2021	-98.83	Cons.
FYE Mar 2022	45.52	Cons.
FYE Mar 2023	57.46	Cons.
FYE Mar 2024	304.23	Cons.
FYE Mar 2025	88.40	Cons.
FYE Mar 2026	101.90	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 1,408.04¥

Change · 10 yrs +974.43¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	433.61	Cons. · Japanese GAAP
FYE Mar 2018	917.05	Cons. · Japanese GAAP
FYE Mar 2019	974.93	Cons. · Japanese GAAP
FYE Mar 2020	966.94	Cons. · Japanese GAAP
FYE Mar 2021	895.50	Cons. · Japanese GAAP
FYE Mar 2022	923.41	Cons. · Japanese GAAP
FYE Mar 2023	983.10	Cons. · Japanese GAAP
FYE Mar 2024	1,287.79	Cons. · Japanese GAAP
FYE Mar 2025	1,347.41	Cons. · Japanese GAAP
FYE Mar 2026	1,408.04	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 15.00×

Average · 9 yrs 22.73×

Fiscal year	PER ×	Basis
FYE Mar 2017	29.90	Cons.
FYE Mar 2018	31.50	Cons.
FYE Mar 2019	25.00	Cons.
FYE Mar 2020	32.00	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	27.60	Cons.
FYE Mar 2023	21.90	Cons.
FYE Mar 2024	4.60	Cons.
FYE Mar 2025	17.10	Cons.
FYE Mar 2026	15.00	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 1.06×

Average · 9 yrs 1.61×

Fiscal year	PBR ×	Basis
FYE Mar 2017	2.81	Cons.
FYE Mar 2018	2.01	Cons.
FYE Mar 2019	1.93	Cons.
FYE Mar 2020	1.88	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	1.36	Cons.
FYE Mar 2023	1.28	Cons.
FYE Mar 2024	1.08	Cons.
FYE Mar 2025	1.12	Cons.
FYE Mar 2026	1.06	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 8,177people

Change · 10 yrs −515 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	8,692	n/a	Cons.
FYE Mar 2018	8,891	+2.3%	Cons.
FYE Mar 2019	9,010	+1.3%	Cons.
FYE Mar 2020	9,034	+0.3%	Cons.
FYE Mar 2021	9,055	+0.2%	Cons.
FYE Mar 2022	8,938	−1.3%	Cons.
FYE Mar 2023	8,630	−3.4%	Cons.
FYE Mar 2024	8,587	−0.5%	Cons.
FYE Mar 2025	8,484	−1.2%	Cons.
FYE Mar 2026	8,177	−3.6%	Cons.

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

Parent-company employees

FYE Mar 2026 2,921people

Change · 10 yrs +1,136 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	1,785	n/a	Parent
FYE Mar 2018	2,753	+54.2%	Parent
FYE Mar 2019	2,793	+1.5%	Parent
FYE Mar 2020	2,815	+0.8%	Parent
FYE Mar 2021	2,859	+1.6%	Parent
FYE Mar 2022	2,926	+2.3%	Parent
FYE Mar 2023	2,891	−1.2%	Parent
FYE Mar 2024	2,906	+0.5%	Parent
FYE Mar 2025	2,907	−0.0%	Parent
FYE Mar 2026	2,921	+0.5%	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 723万円

Change · 8 yrs +27万円

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	696	n/a	Parent
FYE Mar 2020	696	−0.0%	Parent
FYE Mar 2021	679	−2.4%	Parent
FYE Mar 2022	623	−8.3%	Parent
FYE Mar 2023	672	+7.9%	Parent
FYE Mar 2024	685	+1.9%	Parent
FYE Mar 2025	705	+2.8%	Parent
FYE Mar 2026	723	+2.6%	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 40.0years

Change · 8 yrs +2.0 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	38.0	n/a	Parent
FYE Mar 2020	38.0	−0.0%	Parent
FYE Mar 2021	38.0	−0.0%	Parent
FYE Mar 2022	39.0	+2.6%	Parent
FYE Mar 2023	39.0	−0.0%	Parent
FYE Mar 2024	40.0	+2.6%	Parent
FYE Mar 2025	40.0	−0.0%	Parent
FYE Mar 2026	40.0	−0.0%	Parent

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

Average length of service

FYE Mar 2026 17.0years

Change · 8 yrs +1.0 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	16.0	n/a	Parent
FYE Mar 2020	16.0	−0.0%	Parent
FYE Mar 2021	16.0	−0.0%	Parent
FYE Mar 2022	16.0	−0.0%	Parent
FYE Mar 2023	16.0	−0.0%	Parent
FYE Mar 2024	17.0	+6.3%	Parent
FYE Mar 2025	17.0	−0.0%	Parent
FYE Mar 2026	17.0	−0.0%	Parent

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

Temporary employees

FYE Mar 2026 3,286people

Change · 10 yrs −1,276 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	4,562	n/a	n/a
FYE Mar 2018	4,603	+0.9%	n/a
FYE Mar 2019	4,571	−0.7%	n/a
FYE Mar 2020	4,355	−4.7%	n/a
FYE Mar 2021	4,361	+0.1%	n/a
FYE Mar 2022	4,096	−6.1%	n/a
FYE Mar 2023	4,073	−0.6%	n/a
FYE Mar 2024	3,825	−6.1%	n/a
FYE Mar 2025	3,843	+0.5%	n/a
FYE Mar 2026	3,286	−14.5%	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 ¥37.2m

Change · 10 yrs +¥1.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	35.6	n/a	Cons.
FYE Mar 2018	35.5	−0.4%	Cons.
FYE Mar 2019	37.7	+6.1%	Cons.
FYE Mar 2020	34.6	−8.1%	Cons.
FYE Mar 2021	25.9	−25.0%	Cons.
FYE Mar 2022	29.7	+14.4%	Cons.
FYE Mar 2023	29.3	−1.2%	Cons.
FYE Mar 2024	32.7	+11.5%	Cons.
FYE Mar 2025	34.6	+6.0%	Cons.
FYE Mar 2026	37.2	+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 ¥4.1m

Change · 10 yrs −¥0.2m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	4.3	n/a	Cons.
FYE Mar 2018	3.3	−23.7%	Cons.
FYE Mar 2019	4.5	+34.4%	Cons.
FYE Mar 2020	3.3	−26.7%	Cons.
FYE Mar 2021	-2.0	−162.3%	Cons.
FYE Mar 2022	0.4	n/a	Cons.
FYE Mar 2023	1.3	+219.2%	Cons.
FYE Mar 2024	3.3	+160.5%	Cons.
FYE Mar 2025	4.2	+28.7%	Cons.
FYE Mar 2026	4.1	−2.3%	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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