Financials

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

FYE Mar 2026 · Revenue¥497bnYoY +9.7%

FYE Mar 2026 · Operating profit¥52bnYoY −3.4%

FYE Mar 2026 · Net profit¥43bnYoY +0.2%

FYE Mar 2026 · Equity ratio37.0%YoY +0.1pp

FYE Mar 2026 · Group employees13,079YoY +76

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥419bn	n/a	¥38bn	n/a	9.1%	¥21bn	Nagata Tadashi	—
FYE Mar 2018Consolidated	¥435bn	+3.7%	¥39bn	+1.5%	8.9%	¥24bn	Koumura Yasushi	Keio Prelia Hotel Kyoto (Sapporo, 2018)
FYE Mar 2019Consolidated	¥448bn	+2.9%	¥40bn	+4.0%	9.0%	¥27bn	Koumura Yasushi	—
FYE Mar 2020Consolidated	¥434bn	−3.1%	¥36bn	−10.1%	8.3%	¥18bn	Koumura Yasushi	Three pillars: transport, property, leisure
FYE Mar 2021Consolidated	¥315bn	−27.3%	-¥21bn	−157.9%	-6.6%	-¥28bn	Koumura Yasushi	Pandemic hits fares, retail and hotels; buys into Takayama Green Hotel
FYE Mar 2022Consolidated	¥300bn	−4.9%	¥0.7bn	n/a	0.2%	¥5.6bn	Koumura Yasushi	Revenue bottoms at ¥315.4bn
FYE Mar 2023Consolidated	¥347bn	+15.8%	¥21bn	+2802.6%	6.2%	¥13bn	Koumura Yasushi	—
FYE Mar 2024Consolidated	¥409bn	+17.7%	¥44bn	+104.1%	10.7%	¥29bn	Tsumura Satoshi	Shinjuku southwest gate redevelopment committed with JR East
FYE Mar 2025Consolidated	¥453bn	+10.8%	¥54bn	+23.5%	12.0%	¥43bn	Tsumura Satoshi	—
FYE Mar 2026Consolidated	¥497bn	+9.7%	¥52bn	−3.4%	10.5%	¥43bn	Tsumura Satoshi	HIRAKU 2030: 50% total payout, ROE above 9%

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 ¥497bn

CAGR · 10 yrs +1.9%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	419	n/a	Cons. · Japanese GAAP
FYE Mar 2018	435	+3.7%	Cons. · Japanese GAAP
FYE Mar 2019	448	+2.9%	Cons. · Japanese GAAP
FYE Mar 2020	434	−3.1%	Cons. · Japanese GAAP
FYE Mar 2021	315	−27.3%	Cons. · Japanese GAAP
FYE Mar 2022	300	−4.9%	Cons. · Japanese GAAP
FYE Mar 2023	347	+15.8%	Cons. · Japanese GAAP
FYE Mar 2024	409	+17.7%	Cons. · Japanese GAAP
FYE Mar 2025	453	+10.8%	Cons. · Japanese GAAP
FYE Mar 2026	497	+9.7%	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 ¥383bn

CAGR · 10 yrs +1.5%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	334	n/a	Cons. · Japanese GAAP
FYE Mar 2018	348	+4.0%	Cons. · Japanese GAAP
FYE Mar 2019	358	+3.0%	Cons. · Japanese GAAP
FYE Mar 2020	345	−3.6%	Cons. · Japanese GAAP
FYE Mar 2021	289	−16.4%	Cons. · Japanese GAAP
FYE Mar 2022	252	−12.7%	Cons. · Japanese GAAP
FYE Mar 2023	277	+9.9%	Cons. · Japanese GAAP
FYE Mar 2024	312	+12.6%	Cons. · Japanese GAAP
FYE Mar 2025	340	+9.0%	Cons. · Japanese GAAP
FYE Mar 2026	383	+12.7%	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 ¥114bn

CAGR · 10 yrs +3.3%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	84.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	87.1	+2.6%	Cons. · Japanese GAAP
FYE Mar 2019	89.4	+2.6%	Cons. · Japanese GAAP
FYE Mar 2020	88.4	−1.1%	Cons. · Japanese GAAP
FYE Mar 2021	26.7	−69.8%	Cons. · Japanese GAAP
FYE Mar 2022	47.8	+79.1%	Cons. · Japanese GAAP
FYE Mar 2023	70.2	+46.9%	Cons. · Japanese GAAP
FYE Mar 2024	97.0	+38.2%	Cons. · Japanese GAAP
FYE Mar 2025	113	+16.7%	Cons. · Japanese GAAP
FYE Mar 2026	114	+0.7%	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 ¥62bn

CAGR · 10 yrs +3.1%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	47.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	48.6	+3.5%	Cons. · Japanese GAAP
FYE Mar 2019	49.4	+1.6%	Cons. · Japanese GAAP
FYE Mar 2020	52.4	+6.2%	Cons. · Japanese GAAP
FYE Mar 2021	47.6	−9.3%	Cons. · Japanese GAAP
FYE Mar 2022	47.0	−1.1%	Cons. · Japanese GAAP
FYE Mar 2023	48.7	+3.5%	Cons. · Japanese GAAP
FYE Mar 2024	53.2	+9.1%	Cons. · Japanese GAAP
FYE Mar 2025	59.0	+11.0%	Cons. · Japanese GAAP
FYE Mar 2026	61.6	+4.3%	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 ¥52bn

CAGR · 10 yrs +3.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	38.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	38.5	+1.5%	Cons. · Japanese GAAP
FYE Mar 2019	40.1	+4.0%	Cons. · Japanese GAAP
FYE Mar 2020	36.0	−10.1%	Cons. · Japanese GAAP
FYE Mar 2021	-20.9	−157.9%	Cons. · Japanese GAAP
FYE Mar 2022	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	21.5	+2802.6%	Cons. · Japanese GAAP
FYE Mar 2024	43.8	+104.1%	Cons. · Japanese GAAP
FYE Mar 2025	54.1	+23.5%	Cons. · Japanese GAAP
FYE Mar 2026	52.3	−3.4%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥4.2bn

CAGR · 10 yrs +7.8%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.3	+7.7%	Cons. · Japanese GAAP
FYE Mar 2019	3.1	+34.9%	Cons. · Japanese GAAP
FYE Mar 2020	2.3	−27.1%	Cons. · Japanese GAAP
FYE Mar 2021	6.5	+187.5%	Cons. · Japanese GAAP
FYE Mar 2022	7.8	+18.6%	Cons. · Japanese GAAP
FYE Mar 2023	3.9	−49.2%	Cons. · Japanese GAAP
FYE Mar 2024	3.3	−15.5%	Cons. · Japanese GAAP
FYE Mar 2025	3.7	+11.9%	Cons. · Japanese GAAP
FYE Mar 2026	4.2	+13.1%	Cons. · Japanese GAAP

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

Non-operating expenses

FYE Mar 2026 ¥5.4bn

CAGR · 10 yrs +1.1%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	4.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.1	+5.8%	Cons. · Japanese GAAP
FYE Mar 2019	3.9	−23.5%	Cons. · Japanese GAAP
FYE Mar 2020	3.6	−7.7%	Cons. · Japanese GAAP
FYE Mar 2021	3.7	+1.2%	Cons. · Japanese GAAP
FYE Mar 2022	3.1	−14.4%	Cons. · Japanese GAAP
FYE Mar 2023	3.6	+16.3%	Cons. · Japanese GAAP
FYE Mar 2024	3.7	+1.0%	Cons. · Japanese GAAP
FYE Mar 2025	4.6	+25.4%	Cons. · Japanese GAAP
FYE Mar 2026	5.4	+16.1%	Cons. · Japanese GAAP

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

Ordinary profit keijo rieki

FYE Mar 2026 ¥51bn

CAGR · 10 yrs +4.2%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	35.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.7	+1.3%	Cons. · Japanese GAAP
FYE Mar 2019	39.3	+9.9%	Cons. · Japanese GAAP
FYE Mar 2020	34.7	−11.7%	Cons. · Japanese GAAP
FYE Mar 2021	-18.0	−151.8%	Cons. · Japanese GAAP
FYE Mar 2022	5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	21.8	+305.7%	Cons. · Japanese GAAP
FYE Mar 2024	43.5	+99.7%	Cons. · Japanese GAAP
FYE Mar 2025	53.3	+22.5%	Cons. · Japanese GAAP
FYE Mar 2026	51.2	−3.9%	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 ¥16bn

CAGR · 10 yrs +14.4%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	4.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.3	−30.2%	Cons. · Japanese GAAP
FYE Mar 2019	18.2	+451.6%	Cons. · Japanese GAAP
FYE Mar 2020	6.9	−62.4%	Cons. · Japanese GAAP
FYE Mar 2021	8.6	+24.8%	Cons. · Japanese GAAP
FYE Mar 2022	14.8	+73.0%	Cons. · Japanese GAAP
FYE Mar 2023	5.6	−62.1%	Cons. · Japanese GAAP
FYE Mar 2024	2.8	−50.5%	Cons. · Japanese GAAP
FYE Mar 2025	4.1	+46.6%	Cons. · Japanese GAAP
FYE Mar 2026	15.9	+291.6%	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 ¥43bn

CAGR · 10 yrs +8.2%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	21.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.9	+12.9%	Cons. · Japanese GAAP
FYE Mar 2019	27.2	+13.9%	Cons. · Japanese GAAP
FYE Mar 2020	17.9	−34.3%	Cons. · Japanese GAAP
FYE Mar 2021	-27.5	−254.0%	Cons. · Japanese GAAP
FYE Mar 2022	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2023	13.1	+134.8%	Cons. · Japanese GAAP
FYE Mar 2024	29.2	+123.0%	Cons. · Japanese GAAP
FYE Mar 2025	42.9	+46.6%	Cons. · Japanese GAAP
FYE Mar 2026	42.9	+0.2%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 22.9%

Average · 10 yrs 19.7%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	20.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	20.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	8.5	−11.9pp	Cons. · Japanese GAAP
FYE Mar 2022	15.9	+7.5pp	Cons. · Japanese GAAP
FYE Mar 2023	20.2	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2024	23.7	+3.5pp	Cons. · Japanese GAAP
FYE Mar 2025	25.0	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	22.9	−2.1pp	Cons. · Japanese GAAP

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

Operating margin

FYE Mar 2026 10.5%

Average · 10 yrs 6.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	9.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	9.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	8.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	-6.6	−14.9pp	Cons. · Japanese GAAP
FYE Mar 2022	0.2	+6.9pp	Cons. · Japanese GAAP
FYE Mar 2023	6.2	+5.9pp	Cons. · Japanese GAAP
FYE Mar 2024	10.7	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2025	12.0	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	10.5	−1.4pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Mar 2026 10.3%

Average · 10 yrs 6.8%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	8.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	8.0	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	-5.7	−13.7pp	Cons. · Japanese GAAP
FYE Mar 2022	1.8	+7.5pp	Cons. · Japanese GAAP
FYE Mar 2023	6.3	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2024	10.6	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2025	11.8	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	10.3	−1.5pp	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 8.6%

Average · 10 yrs 4.3%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	5.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.5	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	6.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	4.1	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2021	-8.7	−12.8pp	Cons. · Japanese GAAP
FYE Mar 2022	1.9	+10.6pp	Cons. · Japanese GAAP
FYE Mar 2023	3.8	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	7.2	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2025	9.5	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	8.6	−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 77.1%

Average · 10 yrs 80.3%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	79.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	80.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	80.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	79.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	91.5	+11.9pp	Cons. · Japanese GAAP
FYE Mar 2022	84.1	−7.5pp	Cons. · Japanese GAAP
FYE Mar 2023	79.8	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2024	76.3	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2025	75.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	77.1	+2.1pp	Cons. · Japanese GAAP

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

SG&A ratio

FYE Mar 2026 12.4%

Average · 10 yrs 12.9%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	11.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	11.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	12.1	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	15.1	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2022	15.7	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	14.0	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	13.0	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	13.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	12.4	−0.6pp	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 ¥1.20tn

CAGR · 10 yrs +4.1%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	835	n/a	Cons. · Japanese GAAP
FYE Mar 2018	889	+6.5%	Cons. · Japanese GAAP
FYE Mar 2019	889	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	877	−1.4%	Cons. · Japanese GAAP
FYE Mar 2021	913	+4.1%	Cons. · Japanese GAAP
FYE Mar 2022	906	−0.7%	Cons. · Japanese GAAP
FYE Mar 2023	955	+5.4%	Cons. · Japanese GAAP
FYE Mar 2024	1,079	+13.0%	Cons. · Japanese GAAP
FYE Mar 2025	1,123	+4.0%	Cons. · Japanese GAAP
FYE Mar 2026	1,200	+6.9%	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 ¥444bn

CAGR · 10 yrs +3.3%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	332	n/a	Cons. · Japanese GAAP
FYE Mar 2018	352	+6.1%	Cons. · Japanese GAAP
FYE Mar 2019	368	+4.5%	Cons. · Japanese GAAP
FYE Mar 2020	373	+1.5%	Cons. · Japanese GAAP
FYE Mar 2021	344	−7.7%	Cons. · Japanese GAAP
FYE Mar 2022	342	−0.6%	Cons. · Japanese GAAP
FYE Mar 2023	352	+2.7%	Cons. · Japanese GAAP
FYE Mar 2024	393	+11.8%	Cons. · Japanese GAAP
FYE Mar 2025	415	+5.5%	Cons. · Japanese GAAP
FYE Mar 2026	444	+7.0%	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 ¥284bn

CAGR · 10 yrs +4.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	199	n/a	Cons. · Japanese GAAP
FYE Mar 2018	202	+1.8%	Cons. · Japanese GAAP
FYE Mar 2019	198	−1.9%	Cons. · Japanese GAAP
FYE Mar 2020	200	+0.6%	Cons. · Japanese GAAP
FYE Mar 2021	200	+0.1%	Cons. · Japanese GAAP
FYE Mar 2022	206	+3.1%	Cons. · Japanese GAAP
FYE Mar 2023	233	+13.1%	Cons. · Japanese GAAP
FYE Mar 2024	265	+14.0%	Cons. · Japanese GAAP
FYE Mar 2025	277	+4.4%	Cons. · Japanese GAAP
FYE Mar 2026	284	+2.6%	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 ¥111bn

CAGR · 10 yrs +4.9%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	72.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	73.3	+1.7%	Cons. · Japanese GAAP
FYE Mar 2019	71.0	−3.1%	Cons. · Japanese GAAP
FYE Mar 2020	70.6	−0.6%	Cons. · Japanese GAAP
FYE Mar 2021	96.2	+36.2%	Cons. · Japanese GAAP
FYE Mar 2022	68.6	−28.7%	Cons. · Japanese GAAP
FYE Mar 2023	81.6	+18.9%	Cons. · Japanese GAAP
FYE Mar 2024	99.7	+22.2%	Cons. · Japanese GAAP
FYE Mar 2025	100	+0.6%	Cons. · Japanese GAAP
FYE Mar 2026	111	+10.5%	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 ¥173bn

CAGR · 10 yrs +3.5%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	127	n/a	Cons. · Japanese GAAP
FYE Mar 2018	129	+1.9%	Cons. · Japanese GAAP
FYE Mar 2019	127	−1.2%	Cons. · Japanese GAAP
FYE Mar 2020	129	+1.2%	Cons. · Japanese GAAP
FYE Mar 2021	133	+3.5%	Cons. · Japanese GAAP
FYE Mar 2022	137	+2.8%	Cons. · Japanese GAAP
FYE Mar 2023	151	+10.2%	Cons. · Japanese GAAP
FYE Mar 2024	166	+9.6%	Cons. · Japanese GAAP
FYE Mar 2025	176	+6.6%	Cons. · Japanese GAAP
FYE Mar 2026	173	−1.9%	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 · 9 yrs +3.4%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	130	n/a	Cons. · Japanese GAAP
FYE Mar 2018	150	+15.4%	Cons. · Japanese GAAP
FYE Mar 2019	140	−6.7%	Cons. · Japanese GAAP
FYE Mar 2020	130	−7.1%	Cons. · Japanese GAAP
FYE Mar 2021	170	+30.8%	Cons. · Japanese GAAP
FYE Mar 2022	150	−11.8%	Cons. · Japanese GAAP
FYE Mar 2023	170	+13.3%	Cons. · Japanese GAAP
FYE Mar 2024	170	+0.1%	Cons. · Japanese GAAP
FYE Mar 2025	170	−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 ¥24bn

CAGR · 10 yrs +9.7%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	10.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.5	+8.4%	Cons. · Japanese GAAP
FYE Mar 2019	14.0	+21.9%	Cons. · Japanese GAAP
FYE Mar 2020	13.3	−5.0%	Cons. · Japanese GAAP
FYE Mar 2021	14.7	+10.5%	Cons. · Japanese GAAP
FYE Mar 2022	14.6	−1.0%	Cons. · Japanese GAAP
FYE Mar 2023	19.5	+33.6%	Cons. · Japanese GAAP
FYE Mar 2024	21.9	+12.2%	Cons. · Japanese GAAP
FYE Mar 2025	22.5	+2.6%	Cons. · Japanese GAAP
FYE Mar 2026	24.5	+9.1%	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 37.0%

Average · 10 yrs 38.6%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	39.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	41.3	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2020	42.6	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	37.7	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2022	37.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2023	36.8	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	36.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	36.9	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	37.0	+0.1pp	Cons. · Japanese GAAP

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

Debt-to-equity ratio D/E ratio

FYE Mar 2026 64.0%

Average · 10 yrs 60.7%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	59.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	57.4	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2019	53.9	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2020	53.5	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	58.0	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2022	60.1	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2023	66.2	+6.1pp	Cons. · Japanese GAAP
FYE Mar 2024	67.5	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	66.8	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	64.0	−2.8pp	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 9.7%

Average · 10 yrs 5.0%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	6.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	7.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	4.8	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2021	-8.0	−12.8pp	Cons. · Japanese GAAP
FYE Mar 2022	1.6	+9.6pp	Cons. · Japanese GAAP
FYE Mar 2023	3.7	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	7.4	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2025	10.3	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2026	9.7	−0.7pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 3.6%

Average · 10 yrs 1.9%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	2.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	3.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	2.0	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2021	-3.0	−5.1pp	Cons. · Japanese GAAP
FYE Mar 2022	0.6	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2023	1.4	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	2.7	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	3.8	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	3.6	−0.2pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.41×

CAGR · 10 yrs −2.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.50	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.49	−2.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.50	+2.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.49	−1.7%	Cons. · Japanese GAAP
FYE Mar 2021	0.35	−30.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.33	−4.3%	Cons. · Japanese GAAP
FYE Mar 2023	0.36	+9.8%	Cons. · Japanese GAAP
FYE Mar 2024	0.38	+4.2%	Cons. · Japanese GAAP
FYE Mar 2025	0.40	+6.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.41	+2.7%	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 ¥37bn

CAGR · 10 yrs −3.1%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	49.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	62.7	+26.8%	Cons. · Japanese GAAP
FYE Mar 2019	60.6	−3.3%	Cons. · Japanese GAAP
FYE Mar 2020	50.2	−17.3%	Cons. · Japanese GAAP
FYE Mar 2021	6.9	−86.2%	Cons. · Japanese GAAP
FYE Mar 2022	28.2	+309.2%	Cons. · Japanese GAAP
FYE Mar 2023	25.0	−11.3%	Cons. · Japanese GAAP
FYE Mar 2024	52.3	+108.7%	Cons. · Japanese GAAP
FYE Mar 2025	28.6	−45.3%	Cons. · Japanese GAAP
FYE Mar 2026	37.1	+29.6%	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 -¥36bn

Average · 10 yrs -¥44bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-65.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-71.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-47.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-50.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-30.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-14.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-42.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-42.5	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-38.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-35.6	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 -¥1.9bn

Average · 10 yrs -¥0.4bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-16.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-20.4	−217.2%	Cons. · Japanese GAAP
FYE Mar 2020	-15.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	58.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-23.3	−139.6%	Cons. · Japanese GAAP
FYE Mar 2023	20.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-7.8	−137.6%	Cons. · Japanese GAAP
FYE Mar 2025	-15.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-1.9	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 ¥48bn

CAGR · 10 yrs −1.8%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	56.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	64.5	+15.0%	Cons. · Japanese GAAP
FYE Mar 2019	57.9	−10.1%	Cons. · Japanese GAAP
FYE Mar 2020	41.9	−27.7%	Cons. · Japanese GAAP
FYE Mar 2021	76.8	+83.1%	Cons. · Japanese GAAP
FYE Mar 2022	67.4	−12.2%	Cons. · Japanese GAAP
FYE Mar 2023	71.0	+5.4%	Cons. · Japanese GAAP
FYE Mar 2024	73.0	+2.8%	Cons. · Japanese GAAP
FYE Mar 2025	48.2	−34.0%	Cons. · Japanese GAAP
FYE Mar 2026	47.7	−1.0%	Cons. · Japanese GAAP

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

Free cash flow

FYE Mar 2026 ¥1.4bn

Average · 10 yrs -¥3.8bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-16.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-8.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	13.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-0.4	−103.2%	Cons. · Japanese GAAP
FYE Mar 2021	-23.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	13.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-17.0	−222.3%	Cons. · Japanese GAAP
FYE Mar 2024	9.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-9.5	−197.2%	Cons. · Japanese GAAP
FYE Mar 2026	1.4	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 7.5%

Average · 10 yrs 9.7%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	11.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.4	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2019	13.5	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	11.6	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2021	2.2	−9.4pp	Cons. · Japanese GAAP
FYE Mar 2022	9.4	+7.2pp	Cons. · Japanese GAAP
FYE Mar 2023	7.2	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2024	12.8	+5.6pp	Cons. · Japanese GAAP
FYE Mar 2025	6.3	−6.5pp	Cons. · Japanese GAAP
FYE Mar 2026	7.5	+1.1pp	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 -¥236bn

Average · 10 yrs -¥166bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-143	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-138	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-140	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-158	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-123	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-138	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-162	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-192	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-229	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-236	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 ¥463bn

Change · 9 yrs −¥103bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	566	n/a
FYE Mar 2018	584	n/a
FYE Mar 2019	920	n/a
FYE Mar 2020	821	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	615	n/a
FYE Mar 2023	596	n/a
FYE Mar 2024	536	n/a
FYE Mar 2025	491	n/a
FYE Mar 2026	463	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 3,869¥

Change · 9 yrs +2,988¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	881	n/a
FYE Mar 2018	4,540	n/a
FYE Mar 2019	7,154	n/a
FYE Mar 2020	6,383	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	4,785	n/a
FYE Mar 2023	4,640	n/a
FYE Mar 2024	4,167	n/a
FYE Mar 2025	3,821	n/a
FYE Mar 2026	3,869	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 119,701,730shares

Change · 10 yrs −523,052,422 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	642,754,152	Parent
FYE Mar 2018	128,550,830	Parent
FYE Mar 2019	128,550,830	Parent
FYE Mar 2020	128,550,830	Parent
FYE Mar 2021	128,550,830	Parent
FYE Mar 2022	128,550,830	Parent
FYE Mar 2023	128,550,830	Parent
FYE Mar 2024	128,550,830	Parent
FYE Mar 2025	128,550,830	Parent
FYE Mar 2026	119,701,730	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 73.00¥

Change · 10 yrs −100.35¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	173.35	Cons.
FYE Mar 2018	195.71	Cons.
FYE Mar 2019	222.87	Cons.
FYE Mar 2020	146.40	Cons.
FYE Mar 2021	-225.38	Cons.
FYE Mar 2022	9.15	Cons.
FYE Mar 2023	21.48	Cons.
FYE Mar 2024	47.90	Cons.
FYE Mar 2025	70.75	Cons.
FYE Mar 2026	73.00	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 3,707.89¥

Change · 10 yrs +3,191.74¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	516.15	Cons. · Japanese GAAP
FYE Mar 2018	2,737.85	Cons. · Japanese GAAP
FYE Mar 2019	2,860.49	Cons. · Japanese GAAP
FYE Mar 2020	2,902.91	Cons. · Japanese GAAP
FYE Mar 2021	2,678.68	Cons. · Japanese GAAP
FYE Mar 2022	2,662.92	Cons. · Japanese GAAP
FYE Mar 2023	2,735.03	Cons. · Japanese GAAP
FYE Mar 2024	3,058.59	Cons. · Japanese GAAP
FYE Mar 2025	3,225.49	Cons. · Japanese GAAP
FYE Mar 2026	3,707.89	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 10.60×

Average · 9 yrs 34.54×

Fiscal year	PER ×	Basis
FYE Mar 2017	25.40	Cons.
FYE Mar 2018	23.20	Cons.
FYE Mar 2019	32.10	Cons.
FYE Mar 2020	43.60	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	104.60	Cons.
FYE Mar 2023	43.20	Cons.
FYE Mar 2024	17.40	Cons.
FYE Mar 2025	10.80	Cons.
FYE Mar 2026	10.60	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 1.01×

Average · 9 yrs 1.60×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.62	Cons.
FYE Mar 2018	1.58	Cons.
FYE Mar 2019	2.38	Cons.
FYE Mar 2020	2.09	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	1.71	Cons.
FYE Mar 2023	1.61	Cons.
FYE Mar 2024	1.29	Cons.
FYE Mar 2025	1.09	Cons.
FYE Mar 2026	1.01	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 13,079people

Change · 10 yrs +154 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	12,925	n/a	Cons.
FYE Mar 2018	13,040	+0.9%	Cons.
FYE Mar 2019	13,342	+2.3%	Cons.
FYE Mar 2020	13,444	+0.8%	Cons.
FYE Mar 2021	13,542	+0.7%	Cons.
FYE Mar 2022	13,150	−2.9%	Cons.
FYE Mar 2023	12,692	−3.5%	Cons.
FYE Mar 2024	12,918	+1.8%	Cons.
FYE Mar 2025	13,003	+0.7%	Cons.
FYE Mar 2026	13,079	+0.6%	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 2,429people

Change · 10 yrs −68 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	2,497	n/a	Parent
FYE Mar 2018	2,518	+0.8%	Parent
FYE Mar 2019	2,549	+1.2%	Parent
FYE Mar 2020	2,547	−0.1%	Parent
FYE Mar 2021	2,531	−0.6%	Parent
FYE Mar 2022	2,449	−3.2%	Parent
FYE Mar 2023	2,410	−1.6%	Parent
FYE Mar 2024	2,434	+1.0%	Parent
FYE Mar 2025	2,411	−0.9%	Parent
FYE Mar 2026	2,429	+0.7%	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 758万円

Change · 10 yrs +34万円

Fiscal year	Average annual pay 万円	YoY	Basis
FYE Mar 2017	724	n/a	Parent
FYE Mar 2018	718	−0.8%	Parent
FYE Mar 2019	714	−0.6%	Parent
FYE Mar 2020	716	+0.4%	Parent
FYE Mar 2021	680	−5.0%	Parent
FYE Mar 2022	650	−4.5%	Parent
FYE Mar 2023	710	+9.4%	Parent
FYE Mar 2024	730	+2.7%	Parent
FYE Mar 2025	761	+4.2%	Parent
FYE Mar 2026	758	−0.3%	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 40.5years

Change · 8 yrs +0.2 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	40.3	n/a	Parent
FYE Mar 2020	40.4	+0.2%	Parent
FYE Mar 2021	40.7	+0.7%	Parent
FYE Mar 2022	41.2	+1.2%	Parent
FYE Mar 2023	41.7	+1.2%	Parent
FYE Mar 2024	41.5	−0.5%	Parent
FYE Mar 2025	41.2	−0.7%	Parent
FYE Mar 2026	40.5	−1.7%	Parent

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

Average length of service

FYE Mar 2026 17.7years

Change · 10 yrs +0.1 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	17.6	n/a	Parent
FYE Mar 2018	17.7	+0.6%	Parent
FYE Mar 2019	17.6	−0.6%	Parent
FYE Mar 2020	17.5	−0.6%	Parent
FYE Mar 2021	17.6	+0.6%	Parent
FYE Mar 2022	17.8	+1.1%	Parent
FYE Mar 2023	17.9	+0.6%	Parent
FYE Mar 2024	17.8	−0.6%	Parent
FYE Mar 2025	17.6	−1.1%	Parent
FYE Mar 2026	17.7	+0.6%	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 5,065people

Change · 10 yrs −1,268 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	6,333	n/a	n/a
FYE Mar 2018	6,297	−0.6%	n/a
FYE Mar 2019	5,998	−4.7%	n/a
FYE Mar 2020	5,853	−2.4%	n/a
FYE Mar 2021	5,218	−10.8%	n/a
FYE Mar 2022	5,103	−2.2%	n/a
FYE Mar 2023	5,013	−1.8%	n/a
FYE Mar 2024	5,073	+1.2%	n/a
FYE Mar 2025	5,101	+0.6%	n/a
FYE Mar 2026	5,065	−0.7%	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 ¥38.0m

Change · 10 yrs +¥5.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	32.4	n/a	Cons.
FYE Mar 2018	33.3	+2.8%	Cons.
FYE Mar 2019	33.5	+0.6%	Cons.
FYE Mar 2020	32.3	−3.8%	Cons.
FYE Mar 2021	23.3	−27.8%	Cons.
FYE Mar 2022	22.8	−2.1%	Cons.
FYE Mar 2023	27.4	+19.9%	Cons.
FYE Mar 2024	31.6	+15.7%	Cons.
FYE Mar 2025	34.8	+10.1%	Cons.
FYE Mar 2026	38.0	+9.1%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥4.0m

Change · 10 yrs +¥1.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.9	n/a	Cons.
FYE Mar 2018	3.0	+0.6%	Cons.
FYE Mar 2019	3.0	+1.6%	Cons.
FYE Mar 2020	2.7	−10.8%	Cons.
FYE Mar 2021	-1.5	−157.5%	Cons.
FYE Mar 2022	0.1	n/a	Cons.
FYE Mar 2023	1.7	+2907.3%	Cons.
FYE Mar 2024	3.4	+100.5%	Cons.
FYE Mar 2025	4.2	+22.7%	Cons.
FYE Mar 2026	4.0	−3.9%	Cons.

Definition: What each employee accounts for in operating profit
Formula: Operating profit ÷ group employees
Source: Securities report (XBRL)

Disclaimer

Figures are reproduced as filed and are not restated: a change of accounting standard or of consolidation basis moves the series without anything happening to the business. Where that happened, the table says so in place of the year-on-year figure.
Ratios and per-employee figures are computed from the filed lines rather than taken from the filing, and use year-end balances rather than averages.

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