Financials

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

FYE Mar 2026 · Revenue¥1.87tnYoY +5.8%

FYE Mar 2026 · Operating profit¥28bnYoY +99.2%

FYE Mar 2026 · Net profit¥14bnYoY −64.0%

FYE Mar 2026 · Equity ratio44.6%YoY −1.9pp

FYE Mar 2026 · Group employees174,696YoY +1,874

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.47tn	n/a	¥35bn	n/a	2.4%	¥18bn	Yamauchi Masaki	—
FYE Mar 2018Consolidated	¥1.54tn	+4.9%	¥36bn	+2.3%	2.3%	¥18bn	Yamauchi Masaki	Delivery crisis: volume cap and the first rate rise in 27 years
FYE Mar 2019Consolidated	¥1.63tn	+5.6%	¥58bn	+63.5%	3.6%	¥26bn	Yamauchi Masaki	—
FYE Mar 2020Consolidated	¥1.63tn	+0.3%	¥45bn	−23.4%	2.7%	¥22bn	Yamauchi Masaki	—
FYE Mar 2021Consolidated	¥1.70tn	+4.0%	¥92bn	+106.1%	5.4%	¥57bn	Nagao Yutaka	—
FYE Mar 2022Consolidated	¥1.79tn	+5.8%	¥77bn	−16.2%	4.3%	¥56bn	Nagao Yutaka	Seven group companies merged back into Yamato Transport — “One Yamato”
FYE Mar 2023Consolidated	¥1.80tn	+0.4%	¥60bn	−22.2%	3.3%	¥46bn	Nagao Yutaka	Moves to the TSE Prime Market
FYE Mar 2024Consolidated	¥1.76tn	−2.3%	¥40bn	−33.3%	2.3%	¥38bn	Nagao Yutaka	Basic agreement with Japan Post; Kuroneko Yu-Packet launches
FYE Mar 2025Consolidated	¥1.76tn	+0.2%	¥14bn	−64.5%	0.8%	¥38bn	Nagao Yutaka	Kuroneko DM-Bin discontinued; the 960-hour driver overtime cap takes effect
FYE Mar 2026Consolidated	¥1.87tn	+5.8%	¥28bn	+99.2%	1.5%	¥14bn	Nagao Yutaka	—

How it compares

Japan Post Holdings¥11.4tnFY2025Operating margin 9.4%

Yamato Holdings¥1.87tnFY2025Operating margin 1.5%

SG Holdings (Sagawa)¥1.64tnFY2025Operating margin 5.5%

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 ¥1.87tn

CAGR · 10 yrs +2.7%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,467	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,539	+4.9%	Cons. · Japanese GAAP
FYE Mar 2019	1,625	+5.6%	Cons. · Japanese GAAP
FYE Mar 2020	1,630	+0.3%	Cons. · Japanese GAAP
FYE Mar 2021	1,696	+4.0%	Cons. · Japanese GAAP
FYE Mar 2022	1,794	+5.8%	Cons. · Japanese GAAP
FYE Mar 2023	1,801	+0.4%	Cons. · Japanese GAAP
FYE Mar 2024	1,759	−2.3%	Cons. · Japanese GAAP
FYE Mar 2025	1,763	+0.2%	Cons. · Japanese GAAP
FYE Mar 2026	1,866	+5.8%	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 ¥1.78tn

CAGR · 10 yrs +2.8%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,385	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,452	+4.8%	Cons. · Japanese GAAP
FYE Mar 2019	1,514	+4.2%	Cons. · Japanese GAAP
FYE Mar 2020	1,526	+0.8%	Cons. · Japanese GAAP
FYE Mar 2021	1,539	+0.8%	Cons. · Japanese GAAP
FYE Mar 2022	1,654	+7.5%	Cons. · Japanese GAAP
FYE Mar 2023	1,687	+2.0%	Cons. · Japanese GAAP
FYE Mar 2024	1,664	−1.4%	Cons. · Japanese GAAP
FYE Mar 2025	1,693	+1.7%	Cons. · Japanese GAAP
FYE Mar 2026	1,777	+5.0%	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 ¥89bn

CAGR · 10 yrs +1.0%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	81.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	86.3	+6.1%	Cons. · Japanese GAAP
FYE Mar 2019	111	+29.0%	Cons. · Japanese GAAP
FYE Mar 2020	104	−6.5%	Cons. · Japanese GAAP
FYE Mar 2021	157	+51.2%	Cons. · Japanese GAAP
FYE Mar 2022	140	−11.3%	Cons. · Japanese GAAP
FYE Mar 2023	113	−18.7%	Cons. · Japanese GAAP
FYE Mar 2024	94.3	−16.9%	Cons. · Japanese GAAP
FYE Mar 2025	70.0	−25.7%	Cons. · Japanese GAAP
FYE Mar 2026	88.7	+26.7%	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 ¥60bn

CAGR · 10 yrs +3.0%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	46.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50.6	+9.0%	Cons. · Japanese GAAP
FYE Mar 2019	53.0	+4.6%	Cons. · Japanese GAAP
FYE Mar 2020	59.3	+12.0%	Cons. · Japanese GAAP
FYE Mar 2021	65.2	+9.9%	Cons. · Japanese GAAP
FYE Mar 2022	62.3	−4.4%	Cons. · Japanese GAAP
FYE Mar 2023	53.3	−14.4%	Cons. · Japanese GAAP
FYE Mar 2024	54.2	+1.7%	Cons. · Japanese GAAP
FYE Mar 2025	55.8	+2.9%	Cons. · Japanese GAAP
FYE Mar 2026	60.4	+8.3%	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 ¥28bn

CAGR · 10 yrs −2.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	34.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.7	+2.3%	Cons. · Japanese GAAP
FYE Mar 2019	58.3	+63.5%	Cons. · Japanese GAAP
FYE Mar 2020	44.7	−23.4%	Cons. · Japanese GAAP
FYE Mar 2021	92.1	+106.1%	Cons. · Japanese GAAP
FYE Mar 2022	77.2	−16.2%	Cons. · Japanese GAAP
FYE Mar 2023	60.1	−22.2%	Cons. · Japanese GAAP
FYE Mar 2024	40.1	−33.3%	Cons. · Japanese GAAP
FYE Mar 2025	14.2	−64.5%	Cons. · Japanese GAAP
FYE Mar 2026	28.3	+99.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥5.9bn

CAGR · 10 yrs +12.5%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	2.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.6	+27.0%	Cons. · Japanese GAAP
FYE Mar 2019	2.4	−8.8%	Cons. · Japanese GAAP
FYE Mar 2020	2.4	+0.4%	Cons. · Japanese GAAP
FYE Mar 2021	3.8	+60.5%	Cons. · Japanese GAAP
FYE Mar 2022	8.6	+125.8%	Cons. · Japanese GAAP
FYE Mar 2023	4.2	−51.5%	Cons. · Japanese GAAP
FYE Mar 2024	4.6	+10.9%	Cons. · Japanese GAAP
FYE Mar 2025	8.2	+76.6%	Cons. · Japanese GAAP
FYE Mar 2026	5.9	−28.3%	Cons. · Japanese GAAP

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

Non-operating expenses

FYE Mar 2026 ¥7.9bn

CAGR · 10 yrs +16.2%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	2.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.2	+7.4%	Cons. · Japanese GAAP
FYE Mar 2019	6.5	+193.9%	Cons. · Japanese GAAP
FYE Mar 2020	6.5	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	1.9	−70.3%	Cons. · Japanese GAAP
FYE Mar 2022	1.5	−22.4%	Cons. · Japanese GAAP
FYE Mar 2023	6.2	+317.1%	Cons. · Japanese GAAP
FYE Mar 2024	4.2	−31.6%	Cons. · Japanese GAAP
FYE Mar 2025	2.8	−33.6%	Cons. · Japanese GAAP
FYE Mar 2026	7.9	+181.6%	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 ¥26bn

CAGR · 10 yrs −3.1%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	34.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	36.1	+3.4%	Cons. · Japanese GAAP
FYE Mar 2019	54.3	+50.4%	Cons. · Japanese GAAP
FYE Mar 2020	40.6	−25.1%	Cons. · Japanese GAAP
FYE Mar 2021	94.0	+131.4%	Cons. · Japanese GAAP
FYE Mar 2022	84.3	−10.3%	Cons. · Japanese GAAP
FYE Mar 2023	58.1	−31.1%	Cons. · Japanese GAAP
FYE Mar 2024	40.5	−30.3%	Cons. · Japanese GAAP
FYE Mar 2025	19.6	−51.6%	Cons. · Japanese GAAP
FYE Mar 2026	26.3	+34.1%	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 ¥21bn

CAGR · 10 yrs +44.6%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.8	+140.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.8	+0.1%	Cons. · Japanese GAAP
FYE Mar 2020	9.3	+408.3%	Cons. · Japanese GAAP
FYE Mar 2021	1.0	−89.5%	Cons. · Japanese GAAP
FYE Mar 2022	18.0	+1750.1%	Cons. · Japanese GAAP
FYE Mar 2023	2.2	−87.8%	Cons. · Japanese GAAP
FYE Mar 2024	16.1	+630.0%	Cons. · Japanese GAAP
FYE Mar 2025	38.6	+139.6%	Cons. · Japanese GAAP
FYE Mar 2026	21.0	−45.7%	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 ¥14bn

CAGR · 10 yrs −3.0%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	18.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.2	+1.0%	Cons. · Japanese GAAP
FYE Mar 2019	25.7	+40.9%	Cons. · Japanese GAAP
FYE Mar 2020	22.3	−13.1%	Cons. · Japanese GAAP
FYE Mar 2021	56.7	+154.0%	Cons. · Japanese GAAP
FYE Mar 2022	56.0	−1.3%	Cons. · Japanese GAAP
FYE Mar 2023	45.9	−18.0%	Cons. · Japanese GAAP
FYE Mar 2024	37.6	−18.0%	Cons. · Japanese GAAP
FYE Mar 2025	37.9	+0.8%	Cons. · Japanese GAAP
FYE Mar 2026	13.7	−64.0%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 4.8%

Average · 10 yrs 6.2%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	5.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	6.8	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	6.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	9.3	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2022	7.8	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	6.3	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	5.4	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	4.0	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	4.8	+0.8pp	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 1.5%

Average · 10 yrs 2.9%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	2.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	3.6	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	2.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	5.4	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2022	4.3	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2023	3.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	2.3	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	0.8	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	1.5	+0.7pp	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 1.4%

Average · 10 yrs 2.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	2.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	3.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	2.5	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	5.5	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2022	4.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	3.2	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	2.3	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	1.1	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	1.4	+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 0.7%

Average · 10 yrs 1.9%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	1.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	1.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	3.3	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2022	3.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	2.5	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	2.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	2.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	0.7	−1.4pp	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 95.2%

Average · 10 yrs 93.8%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	94.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	94.4	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	93.2	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	93.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	90.7	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2022	92.2	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	93.7	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2024	94.6	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	96.0	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	95.2	−0.8pp	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 3.2%

Average · 10 yrs 3.3%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	3.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	3.6	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	3.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	3.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	3.0	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2024	3.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	3.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	3.2	+0.1pp	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 ¥1.28tn

CAGR · 10 yrs +1.6%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	1,115	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,115	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	1,124	+0.8%	Cons. · Japanese GAAP
FYE Mar 2020	1,101	−2.0%	Cons. · Japanese GAAP
FYE Mar 2021	1,090	−1.0%	Cons. · Japanese GAAP
FYE Mar 2022	1,087	−0.3%	Cons. · Japanese GAAP
FYE Mar 2023	1,108	+1.9%	Cons. · Japanese GAAP
FYE Mar 2024	1,182	+6.7%	Cons. · Japanese GAAP
FYE Mar 2025	1,267	+7.2%	Cons. · Japanese GAAP
FYE Mar 2026	1,280	+1.0%	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 ¥571bn

CAGR · 10 yrs +0.6%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	539	n/a	Cons. · Japanese GAAP
FYE Mar 2018	550	+2.1%	Cons. · Japanese GAAP
FYE Mar 2019	566	+2.8%	Cons. · Japanese GAAP
FYE Mar 2020	555	−1.9%	Cons. · Japanese GAAP
FYE Mar 2021	576	+3.8%	Cons. · Japanese GAAP
FYE Mar 2022	591	+2.5%	Cons. · Japanese GAAP
FYE Mar 2023	610	+3.4%	Cons. · Japanese GAAP
FYE Mar 2024	586	−4.0%	Cons. · Japanese GAAP
FYE Mar 2025	589	+0.6%	Cons. · Japanese GAAP
FYE Mar 2026	571	−3.1%	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 ¥105bn

CAGR · 10 yrs −3.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	151	n/a	Cons. · Japanese GAAP
FYE Mar 2018	127	−15.7%	Cons. · Japanese GAAP
FYE Mar 2019	80.3	−36.9%	Cons. · Japanese GAAP
FYE Mar 2020	89.5	+11.5%	Cons. · Japanese GAAP
FYE Mar 2021	34.0	−62.0%	Cons. · Japanese GAAP
FYE Mar 2022	15.0	−55.9%	Cons. · Japanese GAAP
FYE Mar 2023	10.0	−33.3%	Cons. · Japanese GAAP
FYE Mar 2024	31.0	+210.0%	Cons. · Japanese GAAP
FYE Mar 2025	101	+224.5%	Cons. · Japanese GAAP
FYE Mar 2026	105	+4.7%	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 ¥21bn

CAGR · 10 yrs −11.0%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	61.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	67.0	+9.8%	Cons. · Japanese GAAP
FYE Mar 2019	60.8	−9.2%	Cons. · Japanese GAAP
FYE Mar 2020	75.5	+24.2%	Cons. · Japanese GAAP
FYE Mar 2021	34.0	−55.0%	Cons. · Japanese GAAP
FYE Mar 2022	15.0	−55.9%	Cons. · Japanese GAAP
FYE Mar 2023	10.0	−33.3%	Cons. · Japanese GAAP
FYE Mar 2024	10.2	+1.8%	Cons. · Japanese GAAP
FYE Mar 2025	14.3	+40.7%	Cons. · Japanese GAAP
FYE Mar 2026	21.4	+49.5%	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 ¥84bn

CAGR · 7 yrs −1.2%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	89.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	60.3	−32.9%	Cons. · Japanese GAAP
FYE Mar 2019	19.5	−67.7%	Cons. · Japanese GAAP
FYE Mar 2020	14.0	−28.2%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	20.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	86.3	+314.3%	Cons. · Japanese GAAP
FYE Mar 2026	83.8	−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 · 6 yrs −0.0%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	20.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	10.0	−50.0%	Cons. · Japanese GAAP
FYE Mar 2020	10.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	20.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	20.0	−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 ¥66bn

CAGR · 10 yrs +13.1%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	21.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.1	−7.1%	Cons. · Japanese GAAP
FYE Mar 2019	20.6	+2.4%	Cons. · Japanese GAAP
FYE Mar 2020	21.0	+1.7%	Cons. · Japanese GAAP
FYE Mar 2021	29.6	+41.0%	Cons. · Japanese GAAP
FYE Mar 2022	45.6	+54.4%	Cons. · Japanese GAAP
FYE Mar 2023	43.8	−4.1%	Cons. · Japanese GAAP
FYE Mar 2024	41.2	−5.8%	Cons. · Japanese GAAP
FYE Mar 2025	82.6	+100.3%	Cons. · Japanese GAAP
FYE Mar 2026	65.6	−20.5%	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 44.6%

Average · 10 yrs 50.2%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	48.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	49.4	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	50.4	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	50.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	52.9	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2022	54.3	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	55.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	49.6	−5.5pp	Cons. · Japanese GAAP
FYE Mar 2025	46.5	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2026	44.6	−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 18.4%

Average · 10 yrs 13.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	28.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.1	−4.9pp	Cons. · Japanese GAAP
FYE Mar 2019	14.2	−8.9pp	Cons. · Japanese GAAP
FYE Mar 2020	16.1	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	5.9	−10.2pp	Cons. · Japanese GAAP
FYE Mar 2022	2.5	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2023	1.6	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	5.3	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2025	17.1	+11.8pp	Cons. · Japanese GAAP
FYE Mar 2026	18.4	+1.4pp	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 2.4%

Average · 10 yrs 5.7%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	4.5	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	4.0	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	9.8	+5.8pp	Cons. · Japanese GAAP
FYE Mar 2022	9.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	7.5	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2024	6.4	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	6.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	2.4	−4.0pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 1.1%

Average · 10 yrs 2.9%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	2.3	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	2.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	5.2	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2022	5.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	4.1	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	3.2	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	3.0	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	1.1	−1.9pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 1.46×

CAGR · 10 yrs +1.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.32	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.38	+4.9%	Cons. · Japanese GAAP
FYE Mar 2019	1.45	+4.8%	Cons. · Japanese GAAP
FYE Mar 2020	1.48	+2.4%	Cons. · Japanese GAAP
FYE Mar 2021	1.56	+5.1%	Cons. · Japanese GAAP
FYE Mar 2022	1.65	+6.1%	Cons. · Japanese GAAP
FYE Mar 2023	1.63	−1.5%	Cons. · Japanese GAAP
FYE Mar 2024	1.49	−8.5%	Cons. · Japanese GAAP
FYE Mar 2025	1.39	−6.5%	Cons. · Japanese GAAP
FYE Mar 2026	1.46	+4.8%	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 ¥72bn

CAGR · 10 yrs −0.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	73.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	51.7	−29.5%	Cons. · Japanese GAAP
FYE Mar 2019	118	+128.3%	Cons. · Japanese GAAP
FYE Mar 2020	74.4	−37.0%	Cons. · Japanese GAAP
FYE Mar 2021	124	+66.5%	Cons. · Japanese GAAP
FYE Mar 2022	52.0	−58.0%	Cons. · Japanese GAAP
FYE Mar 2023	90.0	+72.9%	Cons. · Japanese GAAP
FYE Mar 2024	64.3	−28.5%	Cons. · Japanese GAAP
FYE Mar 2025	47.7	−25.8%	Cons. · Japanese GAAP
FYE Mar 2026	72.2	+51.3%	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 -¥7.3bn

Average · 10 yrs -¥36bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-74.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-41.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-54.9	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-49.9	n/a	Cons. · Japanese GAAP
FYE Mar 2021	44.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-58.9	−233.7%	Cons. · Japanese GAAP
FYE Mar 2023	-49.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-22.4	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-44.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-7.3	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 -¥37bn

Average · 10 yrs -¥42bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-18.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-36.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-70.9	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-22.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-123	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-54.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-38.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-30.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	9.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-37.1	−493.5%	Cons. · Japanese GAAP

Definition: Cash raised from, or returned to, lenders and shareholders
Formula: Cash flow from financing activities
Source: Securities report (XBRL)

Cash and equivalents

FYE Mar 2026 ¥238bn

CAGR · 10 yrs +0.4%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	229	n/a	Cons. · Japanese GAAP
FYE Mar 2018	203	−11.4%	Cons. · Japanese GAAP
FYE Mar 2019	195	−4.0%	Cons. · Japanese GAAP
FYE Mar 2020	197	+1.0%	Cons. · Japanese GAAP
FYE Mar 2021	241	+22.7%	Cons. · Japanese GAAP
FYE Mar 2022	181	−25.1%	Cons. · Japanese GAAP
FYE Mar 2023	183	+1.5%	Cons. · Japanese GAAP
FYE Mar 2024	195	+6.3%	Cons. · Japanese GAAP
FYE Mar 2025	208	+6.9%	Cons. · Japanese GAAP
FYE Mar 2026	238	+14.3%	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 ¥65bn

Average · 10 yrs ¥41bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	63.2	+499.0%	Cons. · Japanese GAAP
FYE Mar 2020	24.5	−61.3%	Cons. · Japanese GAAP
FYE Mar 2021	168	+586.0%	Cons. · Japanese GAAP
FYE Mar 2022	-6.9	−104.1%	Cons. · Japanese GAAP
FYE Mar 2023	40.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	41.9	+3.4%	Cons. · Japanese GAAP
FYE Mar 2025	3.4	−91.9%	Cons. · Japanese GAAP
FYE Mar 2026	64.9	+1823.8%	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 3.9%

Average · 10 yrs 4.6%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.4	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	7.3	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2020	4.6	−2.7pp	Cons. · Japanese GAAP
FYE Mar 2021	7.3	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2022	2.9	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2023	5.0	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	3.7	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	2.7	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	3.9	+1.2pp	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 ¥133bn

CAGR · 10 yrs +6.1%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	78.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	75.6	−3.1%	Cons. · Japanese GAAP
FYE Mar 2019	114	+51.2%	Cons. · Japanese GAAP
FYE Mar 2020	107	−6.3%	Cons. · Japanese GAAP
FYE Mar 2021	207	+93.4%	Cons. · Japanese GAAP
FYE Mar 2022	166	−20.1%	Cons. · Japanese GAAP
FYE Mar 2023	173	+4.6%	Cons. · Japanese GAAP
FYE Mar 2024	164	−5.5%	Cons. · Japanese GAAP
FYE Mar 2025	107	−34.3%	Cons. · Japanese GAAP
FYE Mar 2026	133	+23.3%	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 ¥629bn

Change · 10 yrs −¥330bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	959	n/a
FYE Mar 2018	1,097	n/a
FYE Mar 2019	1,176	n/a
FYE Mar 2020	698	n/a
FYE Mar 2021	1,178	n/a
FYE Mar 2022	892	n/a
FYE Mar 2023	861	n/a
FYE Mar 2024	777	n/a
FYE Mar 2025	706	n/a
FYE Mar 2026	629	n/a

Definition: What the market says the company is worth
Formula: Year-end share price × shares outstanding
Source: Securities report (XBRL)

Share price year-end close

FYE Mar 2026 1,744¥

Change · 10 yrs −588¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	2,332	n/a
FYE Mar 2018	2,668	n/a
FYE Mar 2019	2,860	n/a
FYE Mar 2020	1,698	n/a
FYE Mar 2021	3,031	n/a
FYE Mar 2022	2,296	n/a
FYE Mar 2023	2,267	n/a
FYE Mar 2024	2,155	n/a
FYE Mar 2025	1,958	n/a
FYE Mar 2026	1,744	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 360,496,000shares

Change · 10 yrs −50,843,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	411,339,000	Parent
FYE Mar 2018	411,339,000	Parent
FYE Mar 2019	411,339,000	Parent
FYE Mar 2020	411,339,000	Parent
FYE Mar 2021	388,575,000	Parent
FYE Mar 2022	388,575,000	Parent
FYE Mar 2023	379,824,000	Parent
FYE Mar 2024	360,496,000	Parent
FYE Mar 2025	360,496,000	Parent
FYE Mar 2026	360,496,000	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 43.07¥

Change · 10 yrs −2.30¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	45.37	Cons.
FYE Mar 2018	46.24	Cons.
FYE Mar 2019	65.14	Cons.
FYE Mar 2020	56.78	Cons.
FYE Mar 2021	151.55	Cons.
FYE Mar 2022	151.03	Cons.
FYE Mar 2023	126.64	Cons.
FYE Mar 2024	107.23	Cons.
FYE Mar 2025	111.87	Cons.
FYE Mar 2026	43.07	Cons.

Definition: Net profit for each share
Formula: Net profit ÷ average shares outstanding
Source: Securities report (XBRL)

BPS book value per share

FYE Mar 2026 1,584.02¥

Change · 10 yrs +273.23¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,310.79	Cons. · Japanese GAAP
FYE Mar 2018	1,337.84	Cons. · Japanese GAAP
FYE Mar 2019	1,375.61	Cons. · Japanese GAAP
FYE Mar 2020	1,349.67	Cons. · Japanese GAAP
FYE Mar 2021	1,483.29	Cons. · Japanese GAAP
FYE Mar 2022	1,519.77	Cons. · Japanese GAAP
FYE Mar 2023	1,607.01	Cons. · Japanese GAAP
FYE Mar 2024	1,624.86	Cons. · Japanese GAAP
FYE Mar 2025	1,634.58	Cons. · Japanese GAAP
FYE Mar 2026	1,584.02	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 40.50×

Average · 10 yrs 31.41×

Fiscal year	PER ×	Basis
FYE Mar 2017	51.40	Cons.
FYE Mar 2018	57.70	Cons.
FYE Mar 2019	43.90	Cons.
FYE Mar 2020	29.90	Cons.
FYE Mar 2021	20.00	Cons.
FYE Mar 2022	15.20	Cons.
FYE Mar 2023	17.90	Cons.
FYE Mar 2024	20.10	Cons.
FYE Mar 2025	17.50	Cons.
FYE Mar 2026	40.50	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 0.97×

Average · 10 yrs 1.48×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.71	Cons.
FYE Mar 2018	1.91	Cons.
FYE Mar 2019	1.99	Cons.
FYE Mar 2020	1.18	Cons.
FYE Mar 2021	1.95	Cons.
FYE Mar 2022	1.42	Cons.
FYE Mar 2023	1.35	Cons.
FYE Mar 2024	1.26	Cons.
FYE Mar 2025	1.08	Cons.
FYE Mar 2026	0.97	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 174,696people

Change · 10 yrs −27,088 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	201,784	n/a	Cons.
FYE Mar 2018	213,096	+5.6%	Cons.
FYE Mar 2019	225,125	+5.6%	Cons.
FYE Mar 2020	224,945	−0.1%	Cons.
FYE Mar 2021	223,191	−0.8%	Cons.
FYE Mar 2022	216,873	−2.8%	Cons.
FYE Mar 2023	210,197	−3.1%	Cons.
FYE Mar 2024	177,430	−15.6%	Cons.
FYE Mar 2025	172,822	−2.6%	Cons.
FYE Mar 2026	174,696	+1.1%	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 18people

Change · 10 yrs −181 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	199	n/a	Parent
FYE Mar 2018	206	+3.5%	Parent
FYE Mar 2019	244	+18.4%	Parent
FYE Mar 2020	284	+16.4%	Parent
FYE Mar 2021	389	+37.0%	Parent
FYE Mar 2022	25	−93.6%	Parent
FYE Mar 2023	21	−16.0%	Parent
FYE Mar 2024	19	−9.5%	Parent
FYE Mar 2025	15	−21.1%	Parent
FYE Mar 2026	18	+20.0%	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 ¥12.5m

Change · 10 yrs +¥3.8m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	8.7	n/a	Parent
FYE Mar 2018	9.4	+8.4%	Parent
FYE Mar 2019	9.6	+1.8%	Parent
FYE Mar 2020	9.7	+1.5%	Parent
FYE Mar 2021	9.2	−5.7%	Parent
FYE Mar 2022	10.2	+11.3%	Parent
FYE Mar 2023	11.4	+12.1%	Parent
FYE Mar 2024	11.9	+4.4%	Parent
FYE Mar 2025	12.3	+2.9%	Parent
FYE Mar 2026	12.5	+1.8%	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 36.4years

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	38.0	n/a	Parent
FYE Mar 2020	40.2	+5.8%	Parent
FYE Mar 2021	40.7	+1.2%	Parent
FYE Mar 2022	53.4	+31.2%	Parent
FYE Mar 2023	53.6	+0.4%	Parent
FYE Mar 2024	51.3	−4.3%	Parent
FYE Mar 2025	50.8	−1.0%	Parent
FYE Mar 2026	36.4	−28.3%	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 10.3years

Change · 10 yrs −0.6 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	10.9	n/a	Parent
FYE Mar 2018	12.1	+11.0%	Parent
FYE Mar 2019	12.4	+2.5%	Parent
FYE Mar 2020	14.0	+12.9%	Parent
FYE Mar 2021	14.6	+4.3%	Parent
FYE Mar 2022	30.2	+106.8%	Parent
FYE Mar 2023	25.6	−15.2%	Parent
FYE Mar 2024	24.1	−5.9%	Parent
FYE Mar 2025	24.7	+2.5%	Parent
FYE Mar 2026	10.3	−58.3%	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)

Revenue per employee

FYE Mar 2026 ¥10.7m

Change · 10 yrs +¥3.4m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	7.3	n/a	Cons.
FYE Mar 2018	7.2	−0.7%	Cons.
FYE Mar 2019	7.2	−0.0%	Cons.
FYE Mar 2020	7.2	+0.4%	Cons.
FYE Mar 2021	7.6	+4.8%	Cons.
FYE Mar 2022	8.3	+8.8%	Cons.
FYE Mar 2023	8.6	+3.6%	Cons.
FYE Mar 2024	9.9	+15.7%	Cons.
FYE Mar 2025	10.2	+2.9%	Cons.
FYE Mar 2026	10.7	+4.7%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥0.2m

Change · 10 yrs −¥0.0m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	0.2	n/a	Cons.
FYE Mar 2018	0.2	−3.1%	Cons.
FYE Mar 2019	0.3	+54.8%	Cons.
FYE Mar 2020	0.2	−23.3%	Cons.
FYE Mar 2021	0.4	+107.7%	Cons.
FYE Mar 2022	0.4	−13.8%	Cons.
FYE Mar 2023	0.3	−19.7%	Cons.
FYE Mar 2024	0.2	−21.0%	Cons.
FYE Mar 2025	0.1	−63.6%	Cons.
FYE Mar 2026	0.2	+97.1%	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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