Financials

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

FYE Mar 2026 · Revenue¥1.75tnYoY +0.5%

FYE Mar 2026 · Operating profit¥89bnYoY +6.0%

FYE Mar 2026 · Net profit¥54bnYoY +15.1%

FYE Mar 2026 · Equity ratio23.6%YoY +1.9pp

FYE Mar 2026 · Group employees44,759YoY +81

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.20tn	n/a	¥65bn	n/a	5.4%	¥26bn	Yoshida Yoshinori	The Shima Kanko Hotel is refurbished for the Ise-Shima Summit
FYE Mar 2018Consolidated	¥1.22tn	+1.5%	¥65bn	−0.3%	5.3%	¥30bn	Yoshida Yoshinori	—
FYE Mar 2019Consolidated	¥1.24tn	+1.2%	¥68bn	+4.9%	5.5%	¥36bn	Yoshida Yoshinori	—
FYE Mar 2020Consolidated	¥1.19tn	−3.4%	¥49bn	−27.1%	4.1%	¥21bn	Yoshida Yoshinori	—
FYE Mar 2021Consolidated	¥697bn	−41.6%	-¥62bn	−225.8%	-8.9%	-¥60bn	Yoshida Yoshinori	The <em>Hinotori</em> Osaka–Nagoya limited express enters service
FYE Mar 2022Consolidated	¥692bn	−0.8%	¥3.9bn	n/a	0.6%	¥43bn	Ogura Toshihide	Assets of eight domestic hotels including the Miyako Hotel Kyoto Hachijo transferred; operating contracts begin
FYE Mar 2023Consolidated	¥1.56tn	+125.7%	¥67bn	+1637.7%	4.3%	¥92bn	Ogura Toshihide	The <em>Aoniyoshi</em> tourist express enters service; KWE taken over in full by tender offer in July
FYE Mar 2024Consolidated	¥1.63tn	+4.4%	¥87bn	+30.2%	5.4%	¥48bn	Ogura Toshihide	Consolidated revenue expands 2.3 times to ¥1,561.0 billion; international logistics becomes the largest segment
FYE Mar 2025Consolidated	¥1.74tn	+6.9%	¥84bn	−3.5%	4.8%	¥47bn	Tsuji Takashi	<a class="en-history_person" href="/tse/9041/executives/ceo/wakai-kei/" hreflang="ja">Wakai Kei</a> becomes president after two consecutive changes at the top
FYE Mar 2026Consolidated	¥1.75tn	+0.5%	¥89bn	+6.0%	5.1%	¥54bn	Wakai Kei	Long-Term Vision 2035 and Medium-Term Plan 2028 adopt ROIC; Kintetsu Investment Partners established

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 ¥1.75tn

CAGR · 10 yrs +4.2%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,205	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,223	+1.5%	Cons. · Japanese GAAP
FYE Mar 2019	1,237	+1.2%	Cons. · Japanese GAAP
FYE Mar 2020	1,194	−3.4%	Cons. · Japanese GAAP
FYE Mar 2021	697	−41.6%	Cons. · Japanese GAAP
FYE Mar 2022	692	−0.8%	Cons. · Japanese GAAP
FYE Mar 2023	1,561	+125.7%	Cons. · Japanese GAAP
FYE Mar 2024	1,630	+4.4%	Cons. · Japanese GAAP
FYE Mar 2025	1,742	+6.9%	Cons. · Japanese GAAP
FYE Mar 2026	1,750	+0.5%	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 ¥1.42tn

CAGR · 10 yrs +4.1%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	986	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,002	+1.6%	Cons. · Japanese GAAP
FYE Mar 2019	1,013	+1.1%	Cons. · Japanese GAAP
FYE Mar 2020	987	−2.6%	Cons. · Japanese GAAP
FYE Mar 2021	632	−36.0%	Cons. · Japanese GAAP
FYE Mar 2022	573	−9.4%	Cons. · Japanese GAAP
FYE Mar 2023	1,306	+127.9%	Cons. · Japanese GAAP
FYE Mar 2024	1,317	+0.8%	Cons. · Japanese GAAP
FYE Mar 2025	1,421	+7.9%	Cons. · Japanese GAAP
FYE Mar 2026	1,420	−0.0%	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 ¥330bn

CAGR · 10 yrs +4.7%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	219	n/a	Cons. · Japanese GAAP
FYE Mar 2018	221	+0.9%	Cons. · Japanese GAAP
FYE Mar 2019	224	+1.3%	Cons. · Japanese GAAP
FYE Mar 2020	207	−7.4%	Cons. · Japanese GAAP
FYE Mar 2021	64.9	−68.7%	Cons. · Japanese GAAP
FYE Mar 2022	119	+82.8%	Cons. · Japanese GAAP
FYE Mar 2023	255	+115.1%	Cons. · Japanese GAAP
FYE Mar 2024	313	+22.6%	Cons. · Japanese GAAP
FYE Mar 2025	321	+2.7%	Cons. · Japanese GAAP
FYE Mar 2026	330	+2.8%	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 ¥241bn

CAGR · 10 yrs +5.1%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	154	n/a	Cons. · Japanese GAAP
FYE Mar 2018	156	+1.4%	Cons. · Japanese GAAP
FYE Mar 2019	156	−0.2%	Cons. · Japanese GAAP
FYE Mar 2020	158	+1.2%	Cons. · Japanese GAAP
FYE Mar 2021	127	−19.4%	Cons. · Japanese GAAP
FYE Mar 2022	115	−9.7%	Cons. · Japanese GAAP
FYE Mar 2023	188	+63.8%	Cons. · Japanese GAAP
FYE Mar 2024	225	+19.9%	Cons. · Japanese GAAP
FYE Mar 2025	237	+5.0%	Cons. · Japanese GAAP
FYE Mar 2026	241	+1.7%	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 ¥89bn

CAGR · 10 yrs +3.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	64.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	64.6	−0.3%	Cons. · Japanese GAAP
FYE Mar 2019	67.8	+4.9%	Cons. · Japanese GAAP
FYE Mar 2020	49.4	−27.1%	Cons. · Japanese GAAP
FYE Mar 2021	-62.1	−225.8%	Cons. · Japanese GAAP
FYE Mar 2022	3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	67.1	+1637.7%	Cons. · Japanese GAAP
FYE Mar 2024	87.4	+30.2%	Cons. · Japanese GAAP
FYE Mar 2025	84.4	−3.5%	Cons. · Japanese GAAP
FYE Mar 2026	89.4	+6.0%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥14bn

CAGR · 10 yrs +10.9%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.6	+69.5%	Cons. · Japanese GAAP
FYE Mar 2019	11.5	+20.7%	Cons. · Japanese GAAP
FYE Mar 2020	9.1	−21.4%	Cons. · Japanese GAAP
FYE Mar 2021	31.4	+246.1%	Cons. · Japanese GAAP
FYE Mar 2022	36.9	+17.8%	Cons. · Japanese GAAP
FYE Mar 2023	20.0	−46.0%	Cons. · Japanese GAAP
FYE Mar 2024	12.3	−38.6%	Cons. · Japanese GAAP
FYE Mar 2025	13.1	+6.5%	Cons. · Japanese GAAP
FYE Mar 2026	14.4	+9.9%	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 ¥19bn

CAGR · 10 yrs +3.8%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	13.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.9	−6.5%	Cons. · Japanese GAAP
FYE Mar 2019	12.2	−5.4%	Cons. · Japanese GAAP
FYE Mar 2020	11.2	−7.9%	Cons. · Japanese GAAP
FYE Mar 2021	11.2	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	10.2	−9.5%	Cons. · Japanese GAAP
FYE Mar 2023	12.5	+23.1%	Cons. · Japanese GAAP
FYE Mar 2024	15.1	+20.5%	Cons. · Japanese GAAP
FYE Mar 2025	15.9	+5.8%	Cons. · Japanese GAAP
FYE Mar 2026	19.2	+20.7%	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 ¥85bn

CAGR · 10 yrs +4.5%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	56.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	61.3	+8.2%	Cons. · Japanese GAAP
FYE Mar 2019	67.1	+9.5%	Cons. · Japanese GAAP
FYE Mar 2020	47.2	−29.7%	Cons. · Japanese GAAP
FYE Mar 2021	-42.0	−188.9%	Cons. · Japanese GAAP
FYE Mar 2022	30.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	74.6	+143.4%	Cons. · Japanese GAAP
FYE Mar 2024	84.6	+13.4%	Cons. · Japanese GAAP
FYE Mar 2025	81.5	−3.7%	Cons. · Japanese GAAP
FYE Mar 2026	84.6	+3.7%	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 ¥15bn

CAGR · 10 yrs +6.6%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	8.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.3	−15.3%	Cons. · Japanese GAAP
FYE Mar 2019	9.1	+24.0%	Cons. · Japanese GAAP
FYE Mar 2020	7.0	−23.2%	Cons. · Japanese GAAP
FYE Mar 2021	7.1	+1.3%	Cons. · Japanese GAAP
FYE Mar 2022	41.0	+480.5%	Cons. · Japanese GAAP
FYE Mar 2023	53.4	+30.3%	Cons. · Japanese GAAP
FYE Mar 2024	6.4	−88.1%	Cons. · Japanese GAAP
FYE Mar 2025	12.6	+97.8%	Cons. · Japanese GAAP
FYE Mar 2026	15.4	+22.1%	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 ¥54bn

CAGR · 10 yrs +8.3%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	26.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.6	+12.8%	Cons. · Japanese GAAP
FYE Mar 2019	36.0	+21.4%	Cons. · Japanese GAAP
FYE Mar 2020	20.6	−42.8%	Cons. · Japanese GAAP
FYE Mar 2021	-60.2	−392.7%	Cons. · Japanese GAAP
FYE Mar 2022	42.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	91.6	+114.2%	Cons. · Japanese GAAP
FYE Mar 2024	47.8	−47.8%	Cons. · Japanese GAAP
FYE Mar 2025	46.7	−2.3%	Cons. · Japanese GAAP
FYE Mar 2026	53.8	+15.1%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 18.9%

Average · 10 yrs 17.1%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	18.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	18.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	17.3	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	9.3	−8.0pp	Cons. · Japanese GAAP
FYE Mar 2022	17.1	+7.8pp	Cons. · Japanese GAAP
FYE Mar 2023	16.3	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	19.2	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2025	18.4	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	18.9	+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 5.1%

Average · 10 yrs 3.2%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	5.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	4.1	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	-8.9	−13.0pp	Cons. · Japanese GAAP
FYE Mar 2022	0.6	+9.5pp	Cons. · Japanese GAAP
FYE Mar 2023	4.3	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2024	5.4	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	4.8	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	5.1	+0.3pp	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 4.8%

Average · 10 yrs 3.7%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	4.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.0	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	5.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	4.0	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	-6.0	−10.0pp	Cons. · Japanese GAAP
FYE Mar 2022	4.4	+10.5pp	Cons. · Japanese GAAP
FYE Mar 2023	4.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	5.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	4.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	4.8	+0.2pp	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 3.1%

Average · 10 yrs 2.1%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	2.9	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	1.7	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	-8.6	−10.4pp	Cons. · Japanese GAAP
FYE Mar 2022	6.2	+14.8pp	Cons. · Japanese GAAP
FYE Mar 2023	5.9	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	2.9	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2025	2.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	3.1	+0.4pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 81.1%

Average · 10 yrs 82.9%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	81.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	82.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	81.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	82.7	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	90.7	+8.0pp	Cons. · Japanese GAAP
FYE Mar 2022	82.9	−7.8pp	Cons. · Japanese GAAP
FYE Mar 2023	83.7	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	80.8	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2025	81.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	81.1	−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 13.7%

Average · 10 yrs 13.9%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	12.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	12.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	13.2	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	18.2	+5.0pp	Cons. · Japanese GAAP
FYE Mar 2022	16.6	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2023	12.0	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2024	13.8	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	13.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	13.7	+0.2pp	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 ¥2.59tn

CAGR · 10 yrs +3.4%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	1,913	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,914	+0.1%	Cons. · Japanese GAAP
FYE Mar 2019	1,936	+1.1%	Cons. · Japanese GAAP
FYE Mar 2020	1,891	−2.3%	Cons. · Japanese GAAP
FYE Mar 2021	1,955	+3.4%	Cons. · Japanese GAAP
FYE Mar 2022	1,896	−3.0%	Cons. · Japanese GAAP
FYE Mar 2023	2,425	+27.9%	Cons. · Japanese GAAP
FYE Mar 2024	2,454	+1.2%	Cons. · Japanese GAAP
FYE Mar 2025	2,507	+2.2%	Cons. · Japanese GAAP
FYE Mar 2026	2,594	+3.4%	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 ¥612bn

CAGR · 10 yrs +6.8%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	339	n/a	Cons. · Japanese GAAP
FYE Mar 2018	366	+8.2%	Cons. · Japanese GAAP
FYE Mar 2019	382	+4.3%	Cons. · Japanese GAAP
FYE Mar 2020	377	−1.4%	Cons. · Japanese GAAP
FYE Mar 2021	321	−15.0%	Cons. · Japanese GAAP
FYE Mar 2022	379	+18.1%	Cons. · Japanese GAAP
FYE Mar 2023	445	+17.4%	Cons. · Japanese GAAP
FYE Mar 2024	522	+17.3%	Cons. · Japanese GAAP
FYE Mar 2025	544	+4.3%	Cons. · Japanese GAAP
FYE Mar 2026	612	+12.4%	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 ¥949bn

CAGR · 10 yrs +2.3%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	776	n/a	Cons. · Japanese GAAP
FYE Mar 2018	769	−0.8%	Cons. · Japanese GAAP
FYE Mar 2019	736	−4.3%	Cons. · Japanese GAAP
FYE Mar 2020	714	−3.1%	Cons. · Japanese GAAP
FYE Mar 2021	793	+11.0%	Cons. · Japanese GAAP
FYE Mar 2022	707	−10.8%	Cons. · Japanese GAAP
FYE Mar 2023	849	+20.1%	Cons. · Japanese GAAP
FYE Mar 2024	865	+1.8%	Cons. · Japanese GAAP
FYE Mar 2025	898	+3.8%	Cons. · Japanese GAAP
FYE Mar 2026	949	+5.7%	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 ¥215bn

CAGR · 10 yrs −1.4%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	245	n/a	Cons. · Japanese GAAP
FYE Mar 2018	244	−0.5%	Cons. · Japanese GAAP
FYE Mar 2019	209	−14.5%	Cons. · Japanese GAAP
FYE Mar 2020	224	+7.3%	Cons. · Japanese GAAP
FYE Mar 2021	249	+11.4%	Cons. · Japanese GAAP
FYE Mar 2022	204	−18.2%	Cons. · Japanese GAAP
FYE Mar 2023	273	+33.9%	Cons. · Japanese GAAP
FYE Mar 2024	230	−15.7%	Cons. · Japanese GAAP
FYE Mar 2025	257	+11.3%	Cons. · Japanese GAAP
FYE Mar 2026	215	−16.0%	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 ¥733bn

CAGR · 10 yrs +3.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	531	n/a	Cons. · Japanese GAAP
FYE Mar 2018	525	−1.0%	Cons. · Japanese GAAP
FYE Mar 2019	528	+0.4%	Cons. · Japanese GAAP
FYE Mar 2020	490	−7.2%	Cons. · Japanese GAAP
FYE Mar 2021	543	+10.9%	Cons. · Japanese GAAP
FYE Mar 2022	503	−7.4%	Cons. · Japanese GAAP
FYE Mar 2023	576	+14.5%	Cons. · Japanese GAAP
FYE Mar 2024	634	+10.2%	Cons. · Japanese GAAP
FYE Mar 2025	641	+1.1%	Cons. · Japanese GAAP
FYE Mar 2026	733	+14.3%	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 ¥152bn

CAGR · 10 yrs +32.8%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	11.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.9	+0.8%	Cons. · Japanese GAAP
FYE Mar 2019	15.8	+32.3%	Cons. · Japanese GAAP
FYE Mar 2020	17.2	+9.3%	Cons. · Japanese GAAP
FYE Mar 2021	15.0	−13.1%	Cons. · Japanese GAAP
FYE Mar 2022	14.0	−6.7%	Cons. · Japanese GAAP
FYE Mar 2023	170	+1117.3%	Cons. · Japanese GAAP
FYE Mar 2024	167	−1.4%	Cons. · Japanese GAAP
FYE Mar 2025	161	−3.7%	Cons. · Japanese GAAP
FYE Mar 2026	152	−5.8%	Cons. · Japanese GAAP

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

Goodwill

FYE Mar 2026 ¥49bn

CAGR · 10 yrs +106.6%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	−37.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	+24.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.0	−44.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.0	−29.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−40.9%	Cons. · Japanese GAAP
FYE Mar 2023	62.5	+480800.0%	Cons. · Japanese GAAP
FYE Mar 2024	59.3	−5.2%	Cons. · Japanese GAAP
FYE Mar 2025	56.0	−5.5%	Cons. · Japanese GAAP
FYE Mar 2026	49.4	−11.7%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 23.6%

Average · 10 yrs 19.8%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	17.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.1	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	19.7	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	19.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	16.4	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2022	20.0	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2023	18.3	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2024	21.3	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2025	21.7	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	23.6	+1.9pp	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 155.1%

Average · 10 yrs 193.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	229.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	209.9	−19.2pp	Cons. · Japanese GAAP
FYE Mar 2019	192.6	−17.3pp	Cons. · Japanese GAAP
FYE Mar 2020	189.3	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2021	247.2	+57.9pp	Cons. · Japanese GAAP
FYE Mar 2022	186.8	−60.5pp	Cons. · Japanese GAAP
FYE Mar 2023	191.0	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2024	165.7	−25.2pp	Cons. · Japanese GAAP
FYE Mar 2025	165.0	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	155.1	−9.9pp	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 8.8%

Average · 10 yrs 7.0%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	9.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	5.5	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2021	-18.8	−24.2pp	Cons. · Japanese GAAP
FYE Mar 2022	11.3	+30.1pp	Cons. · Japanese GAAP
FYE Mar 2023	20.6	+9.3pp	Cons. · Japanese GAAP
FYE Mar 2024	9.2	−11.4pp	Cons. · Japanese GAAP
FYE Mar 2025	8.6	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	8.8	+0.2pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 2.1%

Average · 10 yrs 1.5%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	1.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	1.1	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	-3.1	−4.2pp	Cons. · Japanese GAAP
FYE Mar 2022	2.3	+5.3pp	Cons. · Japanese GAAP
FYE Mar 2023	3.8	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	1.9	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	1.9	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	2.1	+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 0.67×

CAGR · 10 yrs +0.8%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.63	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.64	+1.4%	Cons. · Japanese GAAP
FYE Mar 2019	0.64	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.63	−1.1%	Cons. · Japanese GAAP
FYE Mar 2021	0.36	−43.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.36	+2.3%	Cons. · Japanese GAAP
FYE Mar 2023	0.64	+76.5%	Cons. · Japanese GAAP
FYE Mar 2024	0.66	+3.1%	Cons. · Japanese GAAP
FYE Mar 2025	0.69	+4.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.67	−2.9%	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 ¥118bn

CAGR · 10 yrs +3.7%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	84.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	88.8	+4.7%	Cons. · Japanese GAAP
FYE Mar 2019	102	+15.2%	Cons. · Japanese GAAP
FYE Mar 2020	58.3	−43.1%	Cons. · Japanese GAAP
FYE Mar 2021	-25.5	−143.7%	Cons. · Japanese GAAP
FYE Mar 2022	57.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	134	+132.8%	Cons. · Japanese GAAP
FYE Mar 2024	151	+12.3%	Cons. · Japanese GAAP
FYE Mar 2025	89.7	−40.4%	Cons. · Japanese GAAP
FYE Mar 2026	118	+31.6%	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 -¥139bn

Average · 10 yrs -¥54bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-41.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-50.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-64.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-57.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-46.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	44.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-41.9	−194.6%	Cons. · Japanese GAAP
FYE Mar 2024	-56.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-82.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-139	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 -¥20bn

Average · 10 yrs -¥20bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-47.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-36.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-38.9	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-13.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	108	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-103	−195.4%	Cons. · Japanese GAAP
FYE Mar 2023	44.8	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-72.0	−260.6%	Cons. · Japanese GAAP
FYE Mar 2025	-17.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-19.9	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 ¥200bn

CAGR · 10 yrs +16.2%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	51.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	52.8	+1.6%	Cons. · Japanese GAAP
FYE Mar 2019	52.1	−1.3%	Cons. · Japanese GAAP
FYE Mar 2020	39.8	−23.6%	Cons. · Japanese GAAP
FYE Mar 2021	76.3	+91.8%	Cons. · Japanese GAAP
FYE Mar 2022	75.8	−0.7%	Cons. · Japanese GAAP
FYE Mar 2023	208	+174.8%	Cons. · Japanese GAAP
FYE Mar 2024	242	+16.1%	Cons. · Japanese GAAP
FYE Mar 2025	232	−4.1%	Cons. · Japanese GAAP
FYE Mar 2026	200	−13.6%	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 ¥32bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	43.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	38.0	−12.6%	Cons. · Japanese GAAP
FYE Mar 2019	38.2	+0.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.8	−97.8%	Cons. · Japanese GAAP
FYE Mar 2021	-71.5	−8754.1%	Cons. · Japanese GAAP
FYE Mar 2022	102	n/a	Cons. · Japanese GAAP
FYE Mar 2023	92.1	−9.5%	Cons. · Japanese GAAP
FYE Mar 2024	94.2	+2.3%	Cons. · Japanese GAAP
FYE Mar 2025	6.9	−92.6%	Cons. · Japanese GAAP
FYE Mar 2026	-20.8	−399.8%	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 6.7%

Average · 10 yrs 6.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	8.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	4.9	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2021	-3.7	−8.5pp	Cons. · Japanese GAAP
FYE Mar 2022	8.3	+12.0pp	Cons. · Japanese GAAP
FYE Mar 2023	8.6	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	9.2	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	5.2	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2026	6.7	+1.6pp	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 -¥749bn

Average · 10 yrs -¥682bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-724	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-716	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-684	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-674	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-716	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-631	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-641	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-623	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-666	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-749	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 ¥615bn

Change · 10 yrs −¥151bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	766	n/a
FYE Mar 2018	790	n/a
FYE Mar 2019	985	n/a
FYE Mar 2020	953	n/a
FYE Mar 2021	803	n/a
FYE Mar 2022	669	n/a
FYE Mar 2023	817	n/a
FYE Mar 2024	848	n/a
FYE Mar 2025	609	n/a
FYE Mar 2026	615	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 3,224¥

Change · 10 yrs +2,822¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	402	n/a
FYE Mar 2018	4,143	n/a
FYE Mar 2019	5,164	n/a
FYE Mar 2020	4,997	n/a
FYE Mar 2021	4,211	n/a
FYE Mar 2022	3,507	n/a
FYE Mar 2023	4,287	n/a
FYE Mar 2024	4,449	n/a
FYE Mar 2025	3,193	n/a
FYE Mar 2026	3,224	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 190,662,000shares

Change · 10 yrs −1,715,958,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	1,906,620,000	Parent
FYE Mar 2018	190,662,000	Parent
FYE Mar 2019	190,662,000	Parent
FYE Mar 2020	190,662,000	Parent
FYE Mar 2021	190,662,000	Parent
FYE Mar 2022	190,662,000	Parent
FYE Mar 2023	190,662,000	Parent
FYE Mar 2024	190,662,000	Parent
FYE Mar 2025	190,662,000	Parent
FYE Mar 2026	190,662,000	Parent

Definition: How many shares exist
Formula: Shares issued, from the key figures of the filing
Source: Securities report (XBRL)

EPS earnings per share

FYE Mar 2026 282.77¥

Change · 10 yrs +144.75¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	138.02	Cons.
FYE Mar 2018	155.74	Cons.
FYE Mar 2019	189.17	Cons.
FYE Mar 2020	108.16	Cons.
FYE Mar 2021	-316.62	Cons.
FYE Mar 2022	224.81	Cons.
FYE Mar 2023	481.63	Cons.
FYE Mar 2024	251.38	Cons.
FYE Mar 2025	245.65	Cons.
FYE Mar 2026	282.77	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 3,208.33¥

Change · 10 yrs +3,030.78¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	177.56	Cons. · Japanese GAAP
FYE Mar 2018	1,921.78	Cons. · Japanese GAAP
FYE Mar 2019	2,004.94	Cons. · Japanese GAAP
FYE Mar 2020	1,977.21	Cons. · Japanese GAAP
FYE Mar 2021	1,681.48	Cons. · Japanese GAAP
FYE Mar 2022	1,985.82	Cons. · Japanese GAAP
FYE Mar 2023	2,332.24	Cons. · Japanese GAAP
FYE Mar 2024	2,736.82	Cons. · Japanese GAAP
FYE Mar 2025	2,853.88	Cons. · Japanese GAAP
FYE Mar 2026	3,208.33	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 11.40×

Average · 10 yrs 18.25×

Fiscal year	PER ×	Basis
FYE Mar 2017	29.10	Cons.
FYE Mar 2018	26.60	Cons.
FYE Mar 2019	27.30	Cons.
FYE Mar 2020	46.20	Cons.
FYE Mar 2021	-13.30	Cons.
FYE Mar 2022	15.60	Cons.
FYE Mar 2023	8.90	Cons.
FYE Mar 2024	17.70	Cons.
FYE Mar 2025	13.00	Cons.
FYE Mar 2026	11.40	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 1.00×

Average · 10 yrs 1.93×

Fiscal year	PBR ×	Basis
FYE Mar 2017	2.26	Cons.
FYE Mar 2018	2.15	Cons.
FYE Mar 2019	2.57	Cons.
FYE Mar 2020	2.52	Cons.
FYE Mar 2021	2.50	Cons.
FYE Mar 2022	1.76	Cons.
FYE Mar 2023	1.83	Cons.
FYE Mar 2024	1.62	Cons.
FYE Mar 2025	1.12	Cons.
FYE Mar 2026	1.00	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 44,759people

Change · 10 yrs +14,040 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	30,719	n/a	Cons.
FYE Mar 2018	30,597	−0.4%	Cons.
FYE Mar 2019	30,506	−0.3%	Cons.
FYE Mar 2020	30,491	−0.0%	Cons.
FYE Mar 2021	30,343	−0.5%	Cons.
FYE Mar 2022	26,605	−12.3%	Cons.
FYE Mar 2023	44,079	+65.7%	Cons.
FYE Mar 2024	44,318	+0.5%	Cons.
FYE Mar 2025	44,678	+0.8%	Cons.
FYE Mar 2026	44,759	+0.2%	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 264people

Change · 10 yrs +136 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	128	n/a	Parent
FYE Mar 2018	131	+2.3%	Parent
FYE Mar 2019	131	−0.0%	Parent
FYE Mar 2020	273	+108.4%	Parent
FYE Mar 2021	277	+1.5%	Parent
FYE Mar 2022	255	−7.9%	Parent
FYE Mar 2023	269	+5.5%	Parent
FYE Mar 2024	279	+3.7%	Parent
FYE Mar 2025	291	+4.3%	Parent
FYE Mar 2026	264	−9.3%	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 823万円

Change · 8 yrs +18万円

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	804	n/a	Parent
FYE Mar 2020	743	−7.7%	Parent
FYE Mar 2021	722	−2.8%	Parent
FYE Mar 2022	640	−11.4%	Parent
FYE Mar 2023	712	+11.4%	Parent
FYE Mar 2024	780	+9.5%	Parent
FYE Mar 2025	797	+2.2%	Parent
FYE Mar 2026	823	+3.3%	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 44.6years

Change · 8 yrs −1.6 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	46.2	n/a	Parent
FYE Mar 2020	45.6	−1.3%	Parent
FYE Mar 2021	45.7	+0.2%	Parent
FYE Mar 2022	44.9	−1.8%	Parent
FYE Mar 2023	45.4	+1.1%	Parent
FYE Mar 2024	45.1	−0.7%	Parent
FYE Mar 2025	44.8	−0.7%	Parent
FYE Mar 2026	44.6	−0.4%	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 · 8 yrs −2.1 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	19.8	n/a	Parent
FYE Mar 2020	18.2	−8.1%	Parent
FYE Mar 2021	18.1	−0.5%	Parent
FYE Mar 2022	16.6	−8.3%	Parent
FYE Mar 2023	16.1	−3.0%	Parent
FYE Mar 2024	16.2	+0.6%	Parent
FYE Mar 2025	16.6	+2.5%	Parent
FYE Mar 2026	17.7	+6.6%	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 14,406people

Change · 10 yrs +1,152 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	13,254	n/a	n/a
FYE Mar 2018	13,852	+4.5%	n/a
FYE Mar 2019	13,968	+0.8%	n/a
FYE Mar 2020	13,950	−0.1%	n/a
FYE Mar 2021	14,048	+0.7%	n/a
FYE Mar 2022	12,773	−9.1%	n/a
FYE Mar 2023	15,371	+20.3%	n/a
FYE Mar 2024	15,248	−0.8%	n/a
FYE Mar 2025	14,914	−2.2%	n/a
FYE Mar 2026	14,406	−3.4%	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 ¥39.1m

Change · 10 yrs −¥0.1m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	39.2	n/a	Cons.
FYE Mar 2018	40.0	+1.9%	Cons.
FYE Mar 2019	40.5	+1.5%	Cons.
FYE Mar 2020	39.2	−3.4%	Cons.
FYE Mar 2021	23.0	−41.3%	Cons.
FYE Mar 2022	26.0	+13.1%	Cons.
FYE Mar 2023	35.4	+36.2%	Cons.
FYE Mar 2024	36.8	+3.8%	Cons.
FYE Mar 2025	39.0	+6.0%	Cons.
FYE Mar 2026	39.1	+0.3%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥2.0m

Change · 10 yrs −¥0.1m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.1	n/a	Cons.
FYE Mar 2018	2.1	+0.1%	Cons.
FYE Mar 2019	2.2	+5.2%	Cons.
FYE Mar 2020	1.6	−27.1%	Cons.
FYE Mar 2021	-2.0	−226.4%	Cons.
FYE Mar 2022	0.1	n/a	Cons.
FYE Mar 2023	1.5	+948.8%	Cons.
FYE Mar 2024	2.0	+29.5%	Cons.
FYE Mar 2025	1.9	−4.2%	Cons.
FYE Mar 2026	2.0	+5.8%	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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