Financials

East Japan Railway (JR East): FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥3.08tnYoY +6.8%

FYE Mar 2026 · Operating profit¥414bnYoY +9.9%

FYE Mar 2026 · Net profit¥248bnYoY +10.5%

FYE Mar 2026 · Equity ratio28.2%YoY +0.1pp

FYE Mar 2026 · Group employees70,623YoY +1,064

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥2.88tn	n/a	¥466bn	n/a	16.2%	¥278bn	Tomita Tetsuro	—
FYE Mar 2018Consolidated	¥2.95tn	+2.4%	¥481bn	+3.2%	16.3%	¥289bn	Tomita Tetsuro	—
FYE Mar 2019Consolidated	¥3.00tn	+1.8%	¥485bn	+0.7%	16.2%	¥295bn	Tomita Tetsuro	—
FYE Mar 2020Consolidated	¥2.95tn	−1.8%	¥381bn	−21.5%	12.9%	¥198bn	Fukasawa Yuji	Consolidated revenue passes ¥3tn — a record year
FYE Mar 2021Consolidated	¥1.76tn	−40.1%	-¥520bn	−236.6%	-29.5%	-¥578bn	Fukasawa Yuji	—
FYE Mar 2022Consolidated	¥1.98tn	+12.1%	-¥154bn	n/a	-7.8%	-¥95bn	Fukasawa Yuji	First-ever net loss of <span class="en-history_money" data-yen="577900000000" data-year="2021">$5.3B (¥578bn)</span> as COVID guts ridership
FYE Mar 2023Consolidated	¥2.41tn	+21.6%	¥141bn	n/a	5.8%	¥99bn	Fukasawa Yuji	Head office reorganized around marketing and group strategy
FYE Mar 2024Consolidated	¥2.73tn	+13.5%	¥345bn	+145.4%	12.6%	¥196bn	Fukasawa Yuji	—
FYE Mar 2025Consolidated	¥2.89tn	+5.8%	¥377bn	+9.2%	13.0%	¥224bn	Fukasawa Yuji	<strong>Yoichi Kise</strong> becomes president; “two-axis” management declared
FYE Mar 2026Consolidated	¥3.08tn	+6.8%	¥414bn	+9.9%	13.4%	¥248bn	Kise Yoichi	<strong>Takanawa Gateway City</strong> opens — real estate as a third pillar

How it compares

South Manchuria RailwayDissolved 1945

Japanese National RailwaysDissolved 1987

East Japan Railway (JR East)¥3.08tnFY2025Operating margin 13.4%

Central Japan Railway (JR Central)¥2.01tnFY2025Operating margin 41.4%West Japan Railway (JR West)¥1.85tnFY2025Operating margin 10.7%Kyushu Railway (JR Kyushu)¥500bnFY2025Operating margin 14.8%

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 ¥3.08tn

CAGR · 10 yrs +0.8%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	2,881	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,950	+2.4%	Cons. · Japanese GAAP
FYE Mar 2019	3,002	+1.8%	Cons. · Japanese GAAP
FYE Mar 2020	2,947	−1.8%	Cons. · Japanese GAAP
FYE Mar 2021	1,765	−40.1%	Cons. · Japanese GAAP
FYE Mar 2022	1,979	+12.1%	Cons. · Japanese GAAP
FYE Mar 2023	2,406	+21.6%	Cons. · Japanese GAAP
FYE Mar 2024	2,730	+13.5%	Cons. · Japanese GAAP
FYE Mar 2025	2,888	+5.8%	Cons. · Japanese GAAP
FYE Mar 2026	3,085	+6.8%	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 ¥1.95tn

CAGR · 10 yrs +0.6%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,852	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,892	+2.1%	Cons. · Japanese GAAP
FYE Mar 2019	1,922	+1.6%	Cons. · Japanese GAAP
FYE Mar 2020	1,934	+0.6%	Cons. · Japanese GAAP
FYE Mar 2021	1,725	−10.8%	Cons. · Japanese GAAP
FYE Mar 2022	1,596	−7.5%	Cons. · Japanese GAAP
FYE Mar 2023	1,688	+5.7%	Cons. · Japanese GAAP
FYE Mar 2024	1,763	+4.5%	Cons. · Japanese GAAP
FYE Mar 2025	1,856	+5.2%	Cons. · Japanese GAAP
FYE Mar 2026	1,953	+5.2%	Cons. · Japanese GAAP

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

Gross profit

FYE Mar 2026 ¥1.13tn

CAGR · 10 yrs +1.1%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	1,029	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,058	+2.9%	Cons. · Japanese GAAP
FYE Mar 2019	1,081	+2.1%	Cons. · Japanese GAAP
FYE Mar 2020	1,013	−6.3%	Cons. · Japanese GAAP
FYE Mar 2021	39.9	−96.1%	Cons. · Japanese GAAP
FYE Mar 2022	383	+858.7%	Cons. · Japanese GAAP
FYE Mar 2023	718	+87.4%	Cons. · Japanese GAAP
FYE Mar 2024	967	+34.7%	Cons. · Japanese GAAP
FYE Mar 2025	1,032	+6.8%	Cons. · Japanese GAAP
FYE Mar 2026	1,132	+9.7%	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 ¥718bn

CAGR · 10 yrs +2.7%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	562	n/a	Cons. · Japanese GAAP
FYE Mar 2018	577	+2.6%	Cons. · Japanese GAAP
FYE Mar 2019	596	+3.2%	Cons. · Japanese GAAP
FYE Mar 2020	632	+6.1%	Cons. · Japanese GAAP
FYE Mar 2021	560	−11.4%	Cons. · Japanese GAAP
FYE Mar 2022	537	−4.2%	Cons. · Japanese GAAP
FYE Mar 2023	577	+7.5%	Cons. · Japanese GAAP
FYE Mar 2024	621	+7.7%	Cons. · Japanese GAAP
FYE Mar 2025	655	+5.4%	Cons. · Japanese GAAP
FYE Mar 2026	718	+9.5%	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 ¥414bn

CAGR · 10 yrs −1.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	466	n/a	Cons. · Japanese GAAP
FYE Mar 2018	481	+3.2%	Cons. · Japanese GAAP
FYE Mar 2019	485	+0.7%	Cons. · Japanese GAAP
FYE Mar 2020	381	−21.5%	Cons. · Japanese GAAP
FYE Mar 2021	-520	−236.6%	Cons. · Japanese GAAP
FYE Mar 2022	-154	n/a	Cons. · Japanese GAAP
FYE Mar 2023	141	n/a	Cons. · Japanese GAAP
FYE Mar 2024	345	+145.4%	Cons. · Japanese GAAP
FYE Mar 2025	377	+9.2%	Cons. · Japanese GAAP
FYE Mar 2026	414	+9.9%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥29bn

CAGR · 10 yrs +3.9%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.9	+37.6%	Cons. · Japanese GAAP
FYE Mar 2019	25.7	−7.7%	Cons. · Japanese GAAP
FYE Mar 2020	23.9	−7.0%	Cons. · Japanese GAAP
FYE Mar 2021	22.5	−6.0%	Cons. · Japanese GAAP
FYE Mar 2022	44.2	+96.9%	Cons. · Japanese GAAP
FYE Mar 2023	42.1	−4.9%	Cons. · Japanese GAAP
FYE Mar 2024	29.2	−30.6%	Cons. · Japanese GAAP
FYE Mar 2025	28.0	−4.1%	Cons. · Japanese GAAP
FYE Mar 2026	28.6	+2.4%	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 ¥91bn

CAGR · 10 yrs +2.3%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	74.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.2	−6.8%	Cons. · Japanese GAAP
FYE Mar 2019	67.3	−2.7%	Cons. · Japanese GAAP
FYE Mar 2020	65.2	−3.1%	Cons. · Japanese GAAP
FYE Mar 2021	81.9	+25.6%	Cons. · Japanese GAAP
FYE Mar 2022	69.8	−14.8%	Cons. · Japanese GAAP
FYE Mar 2023	71.8	+2.9%	Cons. · Japanese GAAP
FYE Mar 2024	77.7	+8.2%	Cons. · Japanese GAAP
FYE Mar 2025	83.2	+7.0%	Cons. · Japanese GAAP
FYE Mar 2026	91.3	+9.7%	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 ¥352bn

CAGR · 10 yrs −1.8%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	412	n/a	Cons. · Japanese GAAP
FYE Mar 2018	440	+6.7%	Cons. · Japanese GAAP
FYE Mar 2019	443	+0.7%	Cons. · Japanese GAAP
FYE Mar 2020	340	−23.4%	Cons. · Japanese GAAP
FYE Mar 2021	-580	−270.8%	Cons. · Japanese GAAP
FYE Mar 2022	-180	n/a	Cons. · Japanese GAAP
FYE Mar 2023	111	n/a	Cons. · Japanese GAAP
FYE Mar 2024	297	+167.5%	Cons. · Japanese GAAP
FYE Mar 2025	322	+8.4%	Cons. · Japanese GAAP
FYE Mar 2026	352	+9.4%	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 ¥80bn

CAGR · 10 yrs +4.4%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	54.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.8	−43.7%	Cons. · Japanese GAAP
FYE Mar 2019	74.7	+142.5%	Cons. · Japanese GAAP
FYE Mar 2020	64.3	−14.0%	Cons. · Japanese GAAP
FYE Mar 2021	43.5	−32.4%	Cons. · Japanese GAAP
FYE Mar 2022	64.1	+47.5%	Cons. · Japanese GAAP
FYE Mar 2023	93.2	+45.4%	Cons. · Japanese GAAP
FYE Mar 2024	40.6	−56.4%	Cons. · Japanese GAAP
FYE Mar 2025	45.1	+11.1%	Cons. · Japanese GAAP
FYE Mar 2026	80.4	+78.2%	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 ¥248bn

CAGR · 10 yrs −1.3%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	278	n/a	Cons. · Japanese GAAP
FYE Mar 2018	289	+4.0%	Cons. · Japanese GAAP
FYE Mar 2019	295	+2.2%	Cons. · Japanese GAAP
FYE Mar 2020	198	−32.8%	Cons. · Japanese GAAP
FYE Mar 2021	-578	−391.2%	Cons. · Japanese GAAP
FYE Mar 2022	-94.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	99.2	n/a	Cons. · Japanese GAAP
FYE Mar 2024	196	+98.0%	Cons. · Japanese GAAP
FYE Mar 2025	224	+14.2%	Cons. · Japanese GAAP
FYE Mar 2026	248	+10.5%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 36.7%

Average · 10 yrs 30.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	35.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	36.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	34.4	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	2.3	−32.1pp	Cons. · Japanese GAAP
FYE Mar 2022	19.3	+17.1pp	Cons. · Japanese GAAP
FYE Mar 2023	29.8	+10.5pp	Cons. · Japanese GAAP
FYE Mar 2024	35.4	+5.6pp	Cons. · Japanese GAAP
FYE Mar 2025	35.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	36.7	+0.9pp	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 13.4%

Average · 10 yrs 6.9%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	16.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	16.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	12.9	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2021	-29.5	−42.4pp	Cons. · Japanese GAAP
FYE Mar 2022	-7.8	+21.7pp	Cons. · Japanese GAAP
FYE Mar 2023	5.8	+13.6pp	Cons. · Japanese GAAP
FYE Mar 2024	12.6	+6.8pp	Cons. · Japanese GAAP
FYE Mar 2025	13.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	13.4	+0.4pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Mar 2026 11.4%

Average · 10 yrs 5.2%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	14.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	14.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	11.5	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2021	-32.9	−44.4pp	Cons. · Japanese GAAP
FYE Mar 2022	-9.1	+23.8pp	Cons. · Japanese GAAP
FYE Mar 2023	4.6	+13.7pp	Cons. · Japanese GAAP
FYE Mar 2024	10.9	+6.3pp	Cons. · Japanese GAAP
FYE Mar 2025	11.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	11.4	+0.3pp	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 8.0%

Average · 10 yrs 2.6%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	9.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	9.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	6.7	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2021	-32.7	−39.5pp	Cons. · Japanese GAAP
FYE Mar 2022	-4.8	+28.0pp	Cons. · Japanese GAAP
FYE Mar 2023	4.1	+8.9pp	Cons. · Japanese GAAP
FYE Mar 2024	7.2	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2025	7.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	8.0	+0.3pp	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 63.3%

Average · 10 yrs 69.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	64.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	64.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	64.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	65.6	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	97.7	+32.1pp	Cons. · Japanese GAAP
FYE Mar 2022	80.7	−17.1pp	Cons. · Japanese GAAP
FYE Mar 2023	70.2	−10.5pp	Cons. · Japanese GAAP
FYE Mar 2024	64.6	−5.6pp	Cons. · Japanese GAAP
FYE Mar 2025	64.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	63.3	−0.9pp	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 23.3%

Average · 10 yrs 23.2%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	19.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	19.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	21.5	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	31.8	+10.3pp	Cons. · Japanese GAAP
FYE Mar 2022	27.1	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2023	24.0	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2024	22.8	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2025	22.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	23.3	+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 ¥10.8tn

CAGR · 10 yrs +3.5%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	7,911	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8,148	+3.0%	Cons. · Japanese GAAP
FYE Mar 2019	8,360	+2.6%	Cons. · Japanese GAAP
FYE Mar 2020	8,537	+2.1%	Cons. · Japanese GAAP
FYE Mar 2021	8,916	+4.4%	Cons. · Japanese GAAP
FYE Mar 2022	9,091	+2.0%	Cons. · Japanese GAAP
FYE Mar 2023	9,352	+2.9%	Cons. · Japanese GAAP
FYE Mar 2024	9,771	+4.5%	Cons. · Japanese GAAP
FYE Mar 2025	10,174	+4.1%	Cons. · Japanese GAAP
FYE Mar 2026	10,821	+6.4%	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 ¥3.05tn

CAGR · 10 yrs +1.5%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	2,653	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,859	+7.8%	Cons. · Japanese GAAP
FYE Mar 2019	3,067	+7.3%	Cons. · Japanese GAAP
FYE Mar 2020	3,146	+2.6%	Cons. · Japanese GAAP
FYE Mar 2021	2,535	−19.4%	Cons. · Japanese GAAP
FYE Mar 2022	2,395	−5.5%	Cons. · Japanese GAAP
FYE Mar 2023	2,473	+3.3%	Cons. · Japanese GAAP
FYE Mar 2024	2,718	+9.9%	Cons. · Japanese GAAP
FYE Mar 2025	2,860	+5.2%	Cons. · Japanese GAAP
FYE Mar 2026	3,047	+6.6%	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 ¥1.48tn

CAGR · 10 yrs +3.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	1,046	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,084	+3.6%	Cons. · Japanese GAAP
FYE Mar 2019	1,107	+2.1%	Cons. · Japanese GAAP
FYE Mar 2020	1,126	+1.7%	Cons. · Japanese GAAP
FYE Mar 2021	1,592	+41.4%	Cons. · Japanese GAAP
FYE Mar 2022	1,512	−5.0%	Cons. · Japanese GAAP
FYE Mar 2023	1,484	−1.9%	Cons. · Japanese GAAP
FYE Mar 2024	1,442	−2.8%	Cons. · Japanese GAAP
FYE Mar 2025	1,402	−2.8%	Cons. · Japanese GAAP
FYE Mar 2026	1,480	+5.6%	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 ¥185bn

CAGR · 10 yrs +5.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	117	n/a	Cons. · Japanese GAAP
FYE Mar 2018	120	+2.5%	Cons. · Japanese GAAP
FYE Mar 2019	110	−7.7%	Cons. · Japanese GAAP
FYE Mar 2020	115	+4.4%	Cons. · Japanese GAAP
FYE Mar 2021	433	+275.8%	Cons. · Japanese GAAP
FYE Mar 2022	202	−53.3%	Cons. · Japanese GAAP
FYE Mar 2023	150	−25.8%	Cons. · Japanese GAAP
FYE Mar 2024	179	+19.4%	Cons. · Japanese GAAP
FYE Mar 2025	142	−20.9%	Cons. · Japanese GAAP
FYE Mar 2026	185	+30.5%	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 ¥1.30tn

CAGR · 10 yrs +3.8%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	930	n/a	Cons. · Japanese GAAP
FYE Mar 2018	964	+3.7%	Cons. · Japanese GAAP
FYE Mar 2019	997	+3.4%	Cons. · Japanese GAAP
FYE Mar 2020	1,010	+1.4%	Cons. · Japanese GAAP
FYE Mar 2021	1,159	+14.7%	Cons. · Japanese GAAP
FYE Mar 2022	1,310	+13.0%	Cons. · Japanese GAAP
FYE Mar 2023	1,334	+1.8%	Cons. · Japanese GAAP
FYE Mar 2024	1,263	−5.3%	Cons. · Japanese GAAP
FYE Mar 2025	1,261	−0.2%	Cons. · Japanese GAAP
FYE Mar 2026	1,296	+2.8%	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 +7.4%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	1,840	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,770	−3.8%	Cons. · Japanese GAAP
FYE Mar 2019	1,730	−2.3%	Cons. · Japanese GAAP
FYE Mar 2020	1,710	−1.2%	Cons. · Japanese GAAP
FYE Mar 2021	2,020	+18.1%	Cons. · Japanese GAAP
FYE Mar 2022	2,543	+25.9%	Cons. · Japanese GAAP
FYE Mar 2023	2,976	+17.0%	Cons. · Japanese GAAP
FYE Mar 2024	3,115	+4.7%	Cons. · Japanese GAAP
FYE Mar 2025	3,246	+4.2%	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 ¥203bn

CAGR · 10 yrs +6.1%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	119	n/a	Cons. · Japanese GAAP
FYE Mar 2018	112	−5.7%	Cons. · Japanese GAAP
FYE Mar 2019	110	−2.4%	Cons. · Japanese GAAP
FYE Mar 2020	124	+13.2%	Cons. · Japanese GAAP
FYE Mar 2021	151	+21.4%	Cons. · Japanese GAAP
FYE Mar 2022	170	+12.7%	Cons. · Japanese GAAP
FYE Mar 2023	199	+17.0%	Cons. · Japanese GAAP
FYE Mar 2024	201	+1.3%	Cons. · Japanese GAAP
FYE Mar 2025	209	+4.0%	Cons. · Japanese GAAP
FYE Mar 2026	203	−3.1%	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 28.2%

Average · 10 yrs 30.7%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	33.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.1	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	36.7	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2020	36.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	28.4	−8.4pp	Cons. · Japanese GAAP
FYE Mar 2022	26.3	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2023	26.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	27.8	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	28.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	28.2	+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 48.6%

Average · 10 yrs 48.6%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	39.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	37.9	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	36.1	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2020	35.8	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	62.8	+27.0pp	Cons. · Japanese GAAP
FYE Mar 2022	63.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	60.0	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2024	53.1	−6.9pp	Cons. · Japanese GAAP
FYE Mar 2025	49.0	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2026	48.6	−0.5pp	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 8.1%

Average · 10 yrs 3.7%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	9.6	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	6.3	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2021	-22.8	−29.1pp	Cons. · Japanese GAAP
FYE Mar 2022	-4.0	+18.8pp	Cons. · Japanese GAAP
FYE Mar 2023	4.0	+8.0pp	Cons. · Japanese GAAP
FYE Mar 2024	7.2	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	7.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	8.1	+0.3pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 2.3%

Average · 10 yrs 1.3%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.5	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	3.5	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	2.3	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	-6.5	−8.8pp	Cons. · Japanese GAAP
FYE Mar 2022	-1.0	+5.4pp	Cons. · Japanese GAAP
FYE Mar 2023	1.1	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	2.0	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	2.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	2.3	+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 0.29×

CAGR · 10 yrs −2.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.36	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.36	−0.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.36	−0.8%	Cons. · Japanese GAAP
FYE Mar 2020	0.35	−3.9%	Cons. · Japanese GAAP
FYE Mar 2021	0.20	−42.7%	Cons. · Japanese GAAP
FYE Mar 2022	0.22	+10.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.26	+18.2%	Cons. · Japanese GAAP
FYE Mar 2024	0.28	+8.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.28	+1.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.29	+0.4%	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 ¥765bn

CAGR · 10 yrs +1.8%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	653	n/a	Cons. · Japanese GAAP
FYE Mar 2018	704	+7.9%	Cons. · Japanese GAAP
FYE Mar 2019	664	−5.7%	Cons. · Japanese GAAP
FYE Mar 2020	549	−17.3%	Cons. · Japanese GAAP
FYE Mar 2021	-190	−134.6%	Cons. · Japanese GAAP
FYE Mar 2022	191	n/a	Cons. · Japanese GAAP
FYE Mar 2023	582	+205.4%	Cons. · Japanese GAAP
FYE Mar 2024	688	+18.3%	Cons. · Japanese GAAP
FYE Mar 2025	732	+6.4%	Cons. · Japanese GAAP
FYE Mar 2026	765	+4.5%	Cons. · Japanese GAAP

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

Investing cash flow

FYE Mar 2026 -¥878bn

Average · 10 yrs -¥659bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-558	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-542	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-594	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-702	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-749	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-526	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-566	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-691	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-783	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-878	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 ¥139bn

Average · 10 yrs ¥119bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-116	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-135	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-121	n/a	Cons. · Japanese GAAP
FYE Mar 2020	43.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	983	+2165.4%	Cons. · Japanese GAAP
FYE Mar 2022	305	−69.0%	Cons. · Japanese GAAP
FYE Mar 2023	26.8	−91.2%	Cons. · Japanese GAAP
FYE Mar 2024	66.1	+146.4%	Cons. · Japanese GAAP
FYE Mar 2025	3.7	−94.5%	Cons. · Japanese GAAP
FYE Mar 2026	139	+3685.9%	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 ¥262bn

CAGR · 10 yrs −1.0%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	287	n/a	Cons. · Japanese GAAP
FYE Mar 2018	315	+9.7%	Cons. · Japanese GAAP
FYE Mar 2019	264	−16.3%	Cons. · Japanese GAAP
FYE Mar 2020	154	−41.7%	Cons. · Japanese GAAP
FYE Mar 2021	198	+28.7%	Cons. · Japanese GAAP
FYE Mar 2022	171	−13.6%	Cons. · Japanese GAAP
FYE Mar 2023	215	+25.7%	Cons. · Japanese GAAP
FYE Mar 2024	281	+30.6%	Cons. · Japanese GAAP
FYE Mar 2025	233	−16.9%	Cons. · Japanese GAAP
FYE Mar 2026	262	+12.2%	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 -¥113bn

Average · 10 yrs -¥125bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	95.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	162	+70.2%	Cons. · Japanese GAAP
FYE Mar 2019	69.4	−57.3%	Cons. · Japanese GAAP
FYE Mar 2020	-153	−320.4%	Cons. · Japanese GAAP
FYE Mar 2021	-939	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-336	n/a	Cons. · Japanese GAAP
FYE Mar 2023	16.2	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-2.5	−115.5%	Cons. · Japanese GAAP
FYE Mar 2025	-51.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-113	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 24.8%

Average · 10 yrs 18.6%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	22.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.9	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	22.1	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2020	18.6	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2021	-10.8	−29.4pp	Cons. · Japanese GAAP
FYE Mar 2022	9.6	+20.4pp	Cons. · Japanese GAAP
FYE Mar 2023	24.2	+14.6pp	Cons. · Japanese GAAP
FYE Mar 2024	25.2	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	25.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	24.8	−0.6pp	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 -¥1.22tn

Average · 10 yrs -¥1.09tn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-759	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-769	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-843	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-972	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-1,394	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-1,341	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-1,269	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-1,161	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-1,169	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-1,218	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 ¥4.11tn

Change · 8 yrs +¥326bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	3,781	n/a
FYE Mar 2018	3,814	n/a
FYE Mar 2019	4,074	n/a
FYE Mar 2020	3,095	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	n/a	n/a
FYE Mar 2023	2,767	n/a
FYE Mar 2024	3,313	n/a
FYE Mar 2025	3,352	n/a
FYE Mar 2026	4,107	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 3,620¥

Change · 8 yrs −6,089¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	9,710	n/a
FYE Mar 2018	9,889	n/a
FYE Mar 2019	10,671	n/a
FYE Mar 2020	8,189	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	n/a	n/a
FYE Mar 2023	7,322	n/a
FYE Mar 2024	8,761	n/a
FYE Mar 2025	2,955	n/a
FYE Mar 2026	3,620	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 1,134,412,000shares

Change · 10 yrs +745,005,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	389,407,000	Parent
FYE Mar 2018	385,655,000	Parent
FYE Mar 2019	381,822,000	Parent
FYE Mar 2020	377,932,000	Parent
FYE Mar 2021	377,932,000	Parent
FYE Mar 2022	377,932,000	Parent
FYE Mar 2023	377,932,000	Parent
FYE Mar 2024	378,137,000	Parent
FYE Mar 2025	1,134,412,000	Parent
FYE Mar 2026	1,134,412,000	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 219.42¥

Change · 10 yrs −494.54¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	713.96	Cons.
FYE Mar 2018	749.20	Cons.
FYE Mar 2019	773.26	Cons.
FYE Mar 2020	174.97	Cons.
FYE Mar 2021	-510.64	Cons.
FYE Mar 2022	-83.90	Cons.
FYE Mar 2023	87.79	Cons.
FYE Mar 2024	173.82	Cons.
FYE Mar 2025	198.29	Cons.
FYE Mar 2026	219.42	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 2,686.07¥

Change · 10 yrs −4,127.93¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	6,814.00	Cons. · Japanese GAAP
FYE Mar 2018	7,414.22	Cons. · Japanese GAAP
FYE Mar 2019	8,032.99	Cons. · Japanese GAAP
FYE Mar 2020	8,324.77	Cons. · Japanese GAAP
FYE Mar 2021	6,707.63	Cons. · Japanese GAAP
FYE Mar 2022	6,336.93	Cons. · Japanese GAAP
FYE Mar 2023	6,544.17	Cons. · Japanese GAAP
FYE Mar 2024	7,187.59	Cons. · Japanese GAAP
FYE Mar 2025	2,520.73	Cons. · Japanese GAAP
FYE Mar 2026	2,686.07	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 16.50×

Average · 8 yrs 16.53×

Fiscal year	PER ×	Basis
FYE Mar 2017	13.60	Cons.
FYE Mar 2018	13.20	Cons.
FYE Mar 2019	13.80	Cons.
FYE Mar 2020	15.60	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	n/a	Cons.
FYE Mar 2023	27.80	Cons.
FYE Mar 2024	16.80	Cons.
FYE Mar 2025	14.90	Cons.
FYE Mar 2026	16.50	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 1.34×

Average · 8 yrs 1.24×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.42	Cons.
FYE Mar 2018	1.33	Cons.
FYE Mar 2019	1.33	Cons.
FYE Mar 2020	0.98	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	n/a	Cons.
FYE Mar 2023	1.11	Cons.
FYE Mar 2024	1.22	Cons.
FYE Mar 2025	1.17	Cons.
FYE Mar 2026	1.34	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 70,623people

Change · 10 yrs −2,440 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	73,063	n/a	Cons.
FYE Mar 2018	73,193	+0.2%	Cons.
FYE Mar 2019	72,402	−1.1%	Cons.
FYE Mar 2020	71,812	−0.8%	Cons.
FYE Mar 2021	71,973	+0.2%	Cons.
FYE Mar 2022	71,240	−1.0%	Cons.
FYE Mar 2023	69,235	−2.8%	Cons.
FYE Mar 2024	68,769	−0.7%	Cons.
FYE Mar 2025	69,559	+1.1%	Cons.
FYE Mar 2026	70,623	+1.5%	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 39,598people

Change · 10 yrs −8,614 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	48,212	n/a	Parent
FYE Mar 2018	47,575	−1.3%	Parent
FYE Mar 2019	46,019	−3.3%	Parent
FYE Mar 2020	44,830	−2.6%	Parent
FYE Mar 2021	44,137	−1.5%	Parent
FYE Mar 2022	43,013	−2.5%	Parent
FYE Mar 2023	41,147	−4.3%	Parent
FYE Mar 2024	39,843	−3.2%	Parent
FYE Mar 2025	39,660	−0.5%	Parent
FYE Mar 2026	39,598	−0.2%	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 ¥8.2m

Change · 10 yrs +¥1.1m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	7.1	n/a	Parent
FYE Mar 2018	7.1	+0.4%	Parent
FYE Mar 2019	7.2	+0.2%	Parent
FYE Mar 2020	7.2	+0.5%	Parent
FYE Mar 2021	6.7	−6.3%	Parent
FYE Mar 2022	6.4	−5.1%	Parent
FYE Mar 2023	6.8	+5.8%	Parent
FYE Mar 2024	7.3	+7.2%	Parent
FYE Mar 2025	7.7	+5.8%	Parent
FYE Mar 2026	8.2	+6.8%	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 39.8years

Change · 8 yrs +0.4 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	39.4	n/a	Parent
FYE Mar 2020	38.8	−1.5%	Parent
FYE Mar 2021	38.2	−1.5%	Parent
FYE Mar 2022	38.2	−0.0%	Parent
FYE Mar 2023	38.3	+0.3%	Parent
FYE Mar 2024	38.6	+0.8%	Parent
FYE Mar 2025	39.2	+1.6%	Parent
FYE Mar 2026	39.8	+1.5%	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 17.1years

Change · 10 yrs −0.0 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	17.1	n/a	Parent
FYE Mar 2018	16.9	−1.2%	Parent
FYE Mar 2019	16.5	−2.4%	Parent
FYE Mar 2020	16.0	−3.0%	Parent
FYE Mar 2021	15.6	−2.5%	Parent
FYE Mar 2022	15.6	−0.0%	Parent
FYE Mar 2023	15.7	+0.6%	Parent
FYE Mar 2024	16.0	+1.9%	Parent
FYE Mar 2025	16.6	+3.8%	Parent
FYE Mar 2026	17.1	+3.0%	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 20,629people

Change · 10 yrs −4,912 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	25,541	n/a	n/a
FYE Mar 2018	26,391	+3.3%	n/a
FYE Mar 2019	26,632	+0.9%	n/a
FYE Mar 2020	26,603	−0.1%	n/a
FYE Mar 2021	26,185	−1.6%	n/a
FYE Mar 2022	25,076	−4.2%	n/a
FYE Mar 2023	24,190	−3.5%	n/a
FYE Mar 2024	23,304	−3.7%	n/a
FYE Mar 2025	21,775	−6.6%	n/a
FYE Mar 2026	20,629	−5.3%	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 ¥43.7m

Change · 10 yrs +¥4.2m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	39.4	n/a	Cons.
FYE Mar 2018	40.3	+2.2%	Cons.
FYE Mar 2019	41.5	+2.9%	Cons.
FYE Mar 2020	41.0	−1.0%	Cons.
FYE Mar 2021	24.5	−40.2%	Cons.
FYE Mar 2022	27.8	+13.3%	Cons.
FYE Mar 2023	34.7	+25.1%	Cons.
FYE Mar 2024	39.7	+14.3%	Cons.
FYE Mar 2025	41.5	+4.6%	Cons.
FYE Mar 2026	43.7	+5.2%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.9m

Change · 10 yrs −¥0.5m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	6.4	n/a	Cons.
FYE Mar 2018	6.6	+3.0%	Cons.
FYE Mar 2019	6.7	+1.8%	Cons.
FYE Mar 2020	5.3	−20.8%	Cons.
FYE Mar 2021	-7.2	−236.3%	Cons.
FYE Mar 2022	-2.2	n/a	Cons.
FYE Mar 2023	2.0	n/a	Cons.
FYE Mar 2024	5.0	+147.1%	Cons.
FYE Mar 2025	5.4	+7.9%	Cons.
FYE Mar 2026	5.9	+8.3%	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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