Financials

Kawasaki Kisen (K Line): FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥1.02tnYoY −2.8%

FYE Mar 2026 · Operating profit¥84bnYoY −18.2%

FYE Mar 2026 · Net profit¥133bnYoY −56.5%

FYE Mar 2026 · Equity ratio76.9%YoY +2.3pp

FYE Mar 2026 · Group employees5,262YoY +86

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.03tn	n/a	-¥46bn	n/a	-4.5%	-¥139bn	Murakami Eizo	Record net loss of ¥139.4bn on container write-offs
FYE Mar 2018Consolidated	¥1.16tn	+12.8%	¥7.2bn	n/a	0.6%	¥10bn	Murakami Eizo	ONE founded with NYK and MOL; K Line holds 31%
FYE Mar 2019Consolidated	¥837bn	−28.0%	-¥25bn	−442.7%	-3.0%	-¥111bn	Murakami Eizo	Self-operated container shipping ends after 50 years
FYE Mar 2020Consolidated	¥735bn	−12.1%	¥6.8bn	n/a	0.9%	¥5.3bn	Murakami Eizo	<a class="en-history_person" href="/tse/9107/executives/ceo/myochin-yukikazu/" hreflang="ja">Myochin Yukikazu</a> becomes president; diversification outside shipping ruled out
FYE Mar 2021Consolidated	¥625bn	−14.9%	-¥21bn	−411.2%	-3.4%	¥109bn	Myochin Yukikazu	—
FYE Mar 2022Consolidated	¥757bn	+21.0%	¥18bn	n/a	2.3%	¥642bn	Myochin Yukikazu	Pandemic container boom; ONE equity income of ¥656.1bn
FYE Mar 2023Consolidated	¥943bn	+24.5%	¥79bn	+346.5%	8.4%	¥695bn	Myochin Yukikazu	Record net profit of ¥642.4bn (year to March 2022)
FYE Mar 2024Consolidated	¥958bn	+1.6%	¥84bn	+6.7%	8.8%	¥102bn	Myochin Yukikazu	—
FYE Mar 2025Consolidated	¥1.05tn	+9.4%	¥103bn	+22.2%	9.8%	¥305bn	Myochin Yukikazu	Self-operated operating profit of ¥102.9bn (year to March 2025)
FYE Mar 2026Consolidated	¥1.02tn	−2.8%	¥84bn	−18.2%	8.3%	¥133bn	Myochin Yukikazu	—

How it compares

Nippon Yusen (NYK Line)¥2.42tnFY2025Operating margin 5.7%Mitsui O.S.K. Lines¥1.83tnFY2025Operating margin 7.0%

Kawasaki Kisen (K Line)¥1.02tnFY2025Operating margin 8.3%

NS United Kaiun¥230bnFY2025Operating margin 8.9%Iino Kaiun¥127bnFY2025Operating margin 10.6%

The Sanko Steamship Co., Ltd.Delisted 1985

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 ¥1.02tn

CAGR · 10 yrs −0.1%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,030	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,162	+12.8%	Cons. · Japanese GAAP
FYE Mar 2019	837	−28.0%	Cons. · Japanese GAAP
FYE Mar 2020	735	−12.1%	Cons. · Japanese GAAP
FYE Mar 2021	625	−14.9%	Cons. · Japanese GAAP
FYE Mar 2022	757	+21.0%	Cons. · Japanese GAAP
FYE Mar 2023	943	+24.5%	Cons. · Japanese GAAP
FYE Mar 2024	958	+1.6%	Cons. · Japanese GAAP
FYE Mar 2025	1,048	+9.4%	Cons. · Japanese GAAP
FYE Mar 2026	1,018	−2.8%	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 ¥849bn

CAGR · 10 yrs −1.8%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,001	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,083	+8.2%	Cons. · Japanese GAAP
FYE Mar 2019	800	−26.1%	Cons. · Japanese GAAP
FYE Mar 2020	671	−16.1%	Cons. · Japanese GAAP
FYE Mar 2021	590	−12.1%	Cons. · Japanese GAAP
FYE Mar 2022	682	+15.5%	Cons. · Japanese GAAP
FYE Mar 2023	800	+17.4%	Cons. · Japanese GAAP
FYE Mar 2024	798	−0.2%	Cons. · Japanese GAAP
FYE Mar 2025	866	+8.4%	Cons. · Japanese GAAP
FYE Mar 2026	849	−1.9%	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 ¥169bn

CAGR · 10 yrs +21.4%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	29.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	78.7	+167.4%	Cons. · Japanese GAAP
FYE Mar 2019	36.2	−54.0%	Cons. · Japanese GAAP
FYE Mar 2020	63.9	+76.3%	Cons. · Japanese GAAP
FYE Mar 2021	35.4	−44.5%	Cons. · Japanese GAAP
FYE Mar 2022	75.4	+112.7%	Cons. · Japanese GAAP
FYE Mar 2023	143	+89.3%	Cons. · Japanese GAAP
FYE Mar 2024	160	+11.8%	Cons. · Japanese GAAP
FYE Mar 2025	182	+14.2%	Cons. · Japanese GAAP
FYE Mar 2026	169	−7.3%	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 ¥85bn

CAGR · 10 yrs +1.3%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	75.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	71.5	−5.3%	Cons. · Japanese GAAP
FYE Mar 2019	61.0	−14.7%	Cons. · Japanese GAAP
FYE Mar 2020	57.1	−6.4%	Cons. · Japanese GAAP
FYE Mar 2021	56.7	−0.6%	Cons. · Japanese GAAP
FYE Mar 2022	57.7	+1.7%	Cons. · Japanese GAAP
FYE Mar 2023	63.9	+10.7%	Cons. · Japanese GAAP
FYE Mar 2024	75.4	+18.1%	Cons. · Japanese GAAP
FYE Mar 2025	79.4	+5.2%	Cons. · Japanese GAAP
FYE Mar 2026	84.7	+6.7%	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 ¥84bn

Average · 10 yrs ¥29bn

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	-46.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-24.7	−442.7%	Cons. · Japanese GAAP
FYE Mar 2020	6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-21.3	−411.2%	Cons. · Japanese GAAP
FYE Mar 2022	17.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	78.9	+346.5%	Cons. · Japanese GAAP
FYE Mar 2024	84.2	+6.7%	Cons. · Japanese GAAP
FYE Mar 2025	103	+22.2%	Cons. · Japanese GAAP
FYE Mar 2026	84.2	−18.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥38bn

CAGR · 10 yrs +19.3%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.7	+12.7%	Cons. · Japanese GAAP
FYE Mar 2019	7.0	−20.5%	Cons. · Japanese GAAP
FYE Mar 2020	13.7	+96.7%	Cons. · Japanese GAAP
FYE Mar 2021	124	+802.8%	Cons. · Japanese GAAP
FYE Mar 2022	656	+431.1%	Cons. · Japanese GAAP
FYE Mar 2023	636	−3.1%	Cons. · Japanese GAAP
FYE Mar 2024	63.3	−90.0%	Cons. · Japanese GAAP
FYE Mar 2025	214	+238.6%	Cons. · Japanese GAAP
FYE Mar 2026	38.0	−82.3%	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 ¥13bn

CAGR · 10 yrs −0.8%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	14.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.0	−0.8%	Cons. · Japanese GAAP
FYE Mar 2019	31.2	+122.5%	Cons. · Japanese GAAP
FYE Mar 2020	13.1	−57.9%	Cons. · Japanese GAAP
FYE Mar 2021	12.8	−2.7%	Cons. · Japanese GAAP
FYE Mar 2022	16.3	+27.4%	Cons. · Japanese GAAP
FYE Mar 2023	24.1	+47.9%	Cons. · Japanese GAAP
FYE Mar 2024	14.7	−38.8%	Cons. · Japanese GAAP
FYE Mar 2025	9.1	−38.4%	Cons. · Japanese GAAP
FYE Mar 2026	13.1	+44.3%	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 ¥109bn

Average · 10 yrs ¥190bn

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	-52.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-48.9	−2594.0%	Cons. · Japanese GAAP
FYE Mar 2020	7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	89.5	+1108.3%	Cons. · Japanese GAAP
FYE Mar 2022	658	+634.7%	Cons. · Japanese GAAP
FYE Mar 2023	691	+5.1%	Cons. · Japanese GAAP
FYE Mar 2024	133	−80.8%	Cons. · Japanese GAAP
FYE Mar 2025	308	+132.1%	Cons. · Japanese GAAP
FYE Mar 2026	109	−64.6%	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 ¥26bn

CAGR · 10 yrs +16.7%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	6.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.3	+454.2%	Cons. · Japanese GAAP
FYE Mar 2019	10.1	−71.4%	Cons. · Japanese GAAP
FYE Mar 2020	10.2	+1.1%	Cons. · Japanese GAAP
FYE Mar 2021	32.3	+217.0%	Cons. · Japanese GAAP
FYE Mar 2022	30.1	−6.9%	Cons. · Japanese GAAP
FYE Mar 2023	4.7	−84.2%	Cons. · Japanese GAAP
FYE Mar 2024	3.7	−22.1%	Cons. · Japanese GAAP
FYE Mar 2025	12.4	+235.1%	Cons. · Japanese GAAP
FYE Mar 2026	25.7	+107.2%	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 ¥133bn

Average · 10 yrs ¥175bn

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	-139	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-111	−1170.8%	Cons. · Japanese GAAP
FYE Mar 2020	5.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	109	+1962.9%	Cons. · Japanese GAAP
FYE Mar 2022	642	+491.0%	Cons. · Japanese GAAP
FYE Mar 2023	695	+8.2%	Cons. · Japanese GAAP
FYE Mar 2024	102	−85.3%	Cons. · Japanese GAAP
FYE Mar 2025	305	+199.4%	Cons. · Japanese GAAP
FYE Mar 2026	133	−56.5%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 16.6%

Average · 10 yrs 10.4%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	2.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.8	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2019	4.3	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2020	8.7	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2021	5.7	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2022	10.0	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2023	15.1	+5.2pp	Cons. · Japanese GAAP
FYE Mar 2024	16.7	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	17.4	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	16.6	−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 8.3%

Average · 10 yrs 2.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	-4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.6	+5.1pp	Cons. · Japanese GAAP
FYE Mar 2019	-3.0	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2020	0.9	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2021	-3.4	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2022	2.3	+5.7pp	Cons. · Japanese GAAP
FYE Mar 2023	8.4	+6.0pp	Cons. · Japanese GAAP
FYE Mar 2024	8.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	9.8	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	8.3	−1.6pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Mar 2026 10.7%

Average · 10 yrs 21.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	-5.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.2	+5.3pp	Cons. · Japanese GAAP
FYE Mar 2019	-5.8	−6.0pp	Cons. · Japanese GAAP
FYE Mar 2020	1.0	+6.9pp	Cons. · Japanese GAAP
FYE Mar 2021	14.3	+13.3pp	Cons. · Japanese GAAP
FYE Mar 2022	86.9	+72.5pp	Cons. · Japanese GAAP
FYE Mar 2023	73.3	−13.6pp	Cons. · Japanese GAAP
FYE Mar 2024	13.9	−59.4pp	Cons. · Japanese GAAP
FYE Mar 2025	29.4	+15.5pp	Cons. · Japanese GAAP
FYE Mar 2026	10.7	−18.7pp	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 13.1%

Average · 10 yrs 20.4%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	-13.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.9	+14.4pp	Cons. · Japanese GAAP
FYE Mar 2019	-13.3	−14.2pp	Cons. · Japanese GAAP
FYE Mar 2020	0.7	+14.0pp	Cons. · Japanese GAAP
FYE Mar 2021	17.4	+16.7pp	Cons. · Japanese GAAP
FYE Mar 2022	84.9	+67.5pp	Cons. · Japanese GAAP
FYE Mar 2023	73.7	−11.1pp	Cons. · Japanese GAAP
FYE Mar 2024	10.6	−63.1pp	Cons. · Japanese GAAP
FYE Mar 2025	29.1	+18.5pp	Cons. · Japanese GAAP
FYE Mar 2026	13.1	−16.1pp	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 83.4%

Average · 10 yrs 89.6%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	97.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	93.2	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2019	95.7	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2020	91.3	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2021	94.3	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2022	90.0	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2023	84.9	−5.2pp	Cons. · Japanese GAAP
FYE Mar 2024	83.3	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	82.6	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	83.4	+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 8.3%

Average · 10 yrs 7.6%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.2	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2019	7.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2020	7.8	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	9.1	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	7.6	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	6.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	7.9	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	7.6	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	8.3	+0.7pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by selling and administrative costs
Formula: SG&A ÷ revenue
Source: Securities report (XBRL)

Balance sheet Assets, debt and equity, and what they say about financial strength

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥2.34tn

CAGR · 10 yrs +9.4%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	1,045	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,037	−0.8%	Cons. · Japanese GAAP
FYE Mar 2019	951	−8.3%	Cons. · Japanese GAAP
FYE Mar 2020	896	−5.8%	Cons. · Japanese GAAP
FYE Mar 2021	975	+8.8%	Cons. · Japanese GAAP
FYE Mar 2022	1,575	+61.6%	Cons. · Japanese GAAP
FYE Mar 2023	2,053	+30.3%	Cons. · Japanese GAAP
FYE Mar 2024	2,109	+2.8%	Cons. · Japanese GAAP
FYE Mar 2025	2,210	+4.8%	Cons. · Japanese GAAP
FYE Mar 2026	2,344	+6.1%	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 ¥1.80tn

CAGR · 10 yrs +26.4%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	219	n/a	Cons. · Japanese GAAP
FYE Mar 2018	217	−1.1%	Cons. · Japanese GAAP
FYE Mar 2019	104	−52.3%	Cons. · Japanese GAAP
FYE Mar 2020	101	−2.4%	Cons. · Japanese GAAP
FYE Mar 2021	218	+115.8%	Cons. · Japanese GAAP
FYE Mar 2022	885	+305.4%	Cons. · Japanese GAAP
FYE Mar 2023	1,515	+71.3%	Cons. · Japanese GAAP
FYE Mar 2024	1,592	+5.0%	Cons. · Japanese GAAP
FYE Mar 2025	1,648	+3.5%	Cons. · Japanese GAAP
FYE Mar 2026	1,803	+9.4%	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 ¥215bn

CAGR · 10 yrs −7.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	452	n/a	Cons. · Japanese GAAP
FYE Mar 2018	462	+2.2%	Cons. · Japanese GAAP
FYE Mar 2019	492	+6.6%	Cons. · Japanese GAAP
FYE Mar 2020	484	−1.7%	Cons. · Japanese GAAP
FYE Mar 2021	464	−4.1%	Cons. · Japanese GAAP
FYE Mar 2022	366	−21.2%	Cons. · Japanese GAAP
FYE Mar 2023	318	−13.0%	Cons. · Japanese GAAP
FYE Mar 2024	255	−19.7%	Cons. · Japanese GAAP
FYE Mar 2025	281	+10.2%	Cons. · Japanese GAAP
FYE Mar 2026	215	−23.7%	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 ¥58bn

CAGR · 10 yrs +2.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	47.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.3	−12.9%	Cons. · Japanese GAAP
FYE Mar 2019	86.4	+109.1%	Cons. · Japanese GAAP
FYE Mar 2020	68.2	−21.1%	Cons. · Japanese GAAP
FYE Mar 2021	138	+102.4%	Cons. · Japanese GAAP
FYE Mar 2022	87.3	−36.7%	Cons. · Japanese GAAP
FYE Mar 2023	50.7	−41.9%	Cons. · Japanese GAAP
FYE Mar 2024	49.0	−3.4%	Cons. · Japanese GAAP
FYE Mar 2025	51.0	+4.1%	Cons. · Japanese GAAP
FYE Mar 2026	57.6	+13.1%	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 ¥157bn

CAGR · 10 yrs −10.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	404	n/a	Cons. · Japanese GAAP
FYE Mar 2018	372	−8.1%	Cons. · Japanese GAAP
FYE Mar 2019	406	+9.2%	Cons. · Japanese GAAP
FYE Mar 2020	328	−19.1%	Cons. · Japanese GAAP
FYE Mar 2021	326	−0.8%	Cons. · Japanese GAAP
FYE Mar 2022	87.7	−73.1%	Cons. · Japanese GAAP
FYE Mar 2023	267	+204.9%	Cons. · Japanese GAAP
FYE Mar 2024	104	−61.3%	Cons. · Japanese GAAP
FYE Mar 2025	167	+61.7%	Cons. · Japanese GAAP
FYE Mar 2026	157	−6.2%	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 · 8 yrs −15.0%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	62.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.4	−81.6%	Cons. · Japanese GAAP
FYE Mar 2019	10.0	−12.5%	Cons. · Japanese GAAP
FYE Mar 2020	5.2	−48.1%	Cons. · Japanese GAAP
FYE Mar 2021	7.0	+34.8%	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-7.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	16.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	20.0	+25.0%	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 ¥10bn

CAGR · 10 yrs +11.2%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	4.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.7	−6.5%	Cons. · Japanese GAAP
FYE Mar 2019	4.4	+16.9%	Cons. · Japanese GAAP
FYE Mar 2020	4.3	−1.1%	Cons. · Japanese GAAP
FYE Mar 2021	3.6	−18.0%	Cons. · Japanese GAAP
FYE Mar 2022	3.5	−1.1%	Cons. · Japanese GAAP
FYE Mar 2023	3.8	+8.4%	Cons. · Japanese GAAP
FYE Mar 2024	6.0	+58.5%	Cons. · Japanese GAAP
FYE Mar 2025	7.3	+20.4%	Cons. · Japanese GAAP
FYE Mar 2026	10.4	+42.7%	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 76.9%

Average · 10 yrs 44.3%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	21.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.9	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	10.9	−10.0pp	Cons. · Japanese GAAP
FYE Mar 2020	11.3	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	22.4	+11.1pp	Cons. · Japanese GAAP
FYE Mar 2022	56.2	+33.8pp	Cons. · Japanese GAAP
FYE Mar 2023	73.8	+17.7pp	Cons. · Japanese GAAP
FYE Mar 2024	75.5	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	74.6	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	76.9	+2.3pp	Cons. · Japanese GAAP

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

Debt-to-equity ratio D/E ratio

FYE Mar 2026 11.9%

Average · 10 yrs 169.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	205.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	212.8	+7.0pp	Cons. · Japanese GAAP
FYE Mar 2019	475.1	+262.4pp	Cons. · Japanese GAAP
FYE Mar 2020	478.4	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2021	212.6	−265.9pp	Cons. · Japanese GAAP
FYE Mar 2022	41.3	−171.2pp	Cons. · Japanese GAAP
FYE Mar 2023	21.0	−20.3pp	Cons. · Japanese GAAP
FYE Mar 2024	16.0	−5.0pp	Cons. · Japanese GAAP
FYE Mar 2025	17.1	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	11.9	−5.2pp	Cons. · Japanese GAAP

Definition: Borrowings measured against the company's own capital
Formula: Interest-bearing debt ÷ equity
Source: Securities report (XBRL)

ROE return on equity

FYE Mar 2026 7.4%

Average · 10 yrs 4.0%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	-63.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.8	+68.3pp	Cons. · Japanese GAAP
FYE Mar 2019	-107.3	−112.1pp	Cons. · Japanese GAAP
FYE Mar 2020	5.2	+112.6pp	Cons. · Japanese GAAP
FYE Mar 2021	49.8	+44.6pp	Cons. · Japanese GAAP
FYE Mar 2022	72.6	+22.8pp	Cons. · Japanese GAAP
FYE Mar 2023	45.9	−26.8pp	Cons. · Japanese GAAP
FYE Mar 2024	6.4	−39.4pp	Cons. · Japanese GAAP
FYE Mar 2025	18.5	+12.1pp	Cons. · Japanese GAAP
FYE Mar 2026	7.4	−11.1pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 5.7%

Average · 10 yrs 8.7%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	-13.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	+14.3pp	Cons. · Japanese GAAP
FYE Mar 2019	-11.7	−12.7pp	Cons. · Japanese GAAP
FYE Mar 2020	0.6	+12.3pp	Cons. · Japanese GAAP
FYE Mar 2021	11.2	+10.6pp	Cons. · Japanese GAAP
FYE Mar 2022	40.8	+29.6pp	Cons. · Japanese GAAP
FYE Mar 2023	33.9	−6.9pp	Cons. · Japanese GAAP
FYE Mar 2024	4.8	−29.0pp	Cons. · Japanese GAAP
FYE Mar 2025	13.8	+9.0pp	Cons. · Japanese GAAP
FYE Mar 2026	5.7	−8.1pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.43×

CAGR · 10 yrs −8.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.99	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.12	+13.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.88	−21.5%	Cons. · Japanese GAAP
FYE Mar 2020	0.82	−6.7%	Cons. · Japanese GAAP
FYE Mar 2021	0.64	−21.8%	Cons. · Japanese GAAP
FYE Mar 2022	0.48	−25.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.46	−4.5%	Cons. · Japanese GAAP
FYE Mar 2024	0.45	−1.1%	Cons. · Japanese GAAP
FYE Mar 2025	0.47	+4.4%	Cons. · Japanese GAAP
FYE Mar 2026	0.43	−8.4%	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 ¥265bn

Average · 10 yrs ¥138bn

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-43.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-6.8	−683.4%	Cons. · Japanese GAAP
FYE Mar 2020	-21.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	33.4	n/a	Cons. · Japanese GAAP
FYE Mar 2022	226	+578.1%	Cons. · Japanese GAAP
FYE Mar 2023	456	+101.4%	Cons. · Japanese GAAP
FYE Mar 2024	202	−55.6%	Cons. · Japanese GAAP
FYE Mar 2025	273	+34.9%	Cons. · Japanese GAAP
FYE Mar 2026	265	−3.1%	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 -¥35bn

Average · 10 yrs -¥37bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-24.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-22.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-35.5	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	17.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-5.8	−134.4%	Cons. · Japanese GAAP
FYE Mar 2023	-46.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-66.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-126	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-35.1	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 -¥125bn

Average · 10 yrs -¥93bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	26.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.2	−15.9%	Cons. · Japanese GAAP
FYE Mar 2019	19.3	−13.3%	Cons. · Japanese GAAP
FYE Mar 2020	16.7	−13.3%	Cons. · Japanese GAAP
FYE Mar 2021	-34.8	−308.3%	Cons. · Japanese GAAP
FYE Mar 2022	-116	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-301	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-223	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-212	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-125	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 ¥320bn

CAGR · 10 yrs +8.2%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	157	n/a	Cons. · Japanese GAAP
FYE Mar 2018	158	+0.8%	Cons. · Japanese GAAP
FYE Mar 2019	138	−12.7%	Cons. · Japanese GAAP
FYE Mar 2020	112	−18.9%	Cons. · Japanese GAAP
FYE Mar 2021	130	+16.1%	Cons. · Japanese GAAP
FYE Mar 2022	244	+87.9%	Cons. · Japanese GAAP
FYE Mar 2023	347	+42.0%	Cons. · Japanese GAAP
FYE Mar 2024	269	−22.3%	Cons. · Japanese GAAP
FYE Mar 2025	202	−25.2%	Cons. · Japanese GAAP
FYE Mar 2026	320	+58.6%	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 ¥230bn

Average · 10 yrs ¥102bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-68.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-21.6	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-42.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-42.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	50.4	n/a	Cons. · Japanese GAAP
FYE Mar 2022	221	+337.9%	Cons. · Japanese GAAP
FYE Mar 2023	409	+85.5%	Cons. · Japanese GAAP
FYE Mar 2024	136	−66.7%	Cons. · Japanese GAAP
FYE Mar 2025	147	+8.0%	Cons. · Japanese GAAP
FYE Mar 2026	230	+56.2%	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 26.0%

Average · 10 yrs 14.9%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	-4.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.1	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2019	-0.8	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	-3.0	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2021	5.3	+8.3pp	Cons. · Japanese GAAP
FYE Mar 2022	29.9	+24.6pp	Cons. · Japanese GAAP
FYE Mar 2023	48.4	+18.5pp	Cons. · Japanese GAAP
FYE Mar 2024	21.1	−27.2pp	Cons. · Japanese GAAP
FYE Mar 2025	26.1	+4.9pp	Cons. · Japanese GAAP
FYE Mar 2026	26.0	−0.1pp	Cons. · Japanese GAAP

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

Net cash

FYE Mar 2026 ¥105bn

Average · 10 yrs -¥171bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-295	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-304	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-354	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-372	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-334	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-121	n/a	Cons. · Japanese GAAP
FYE Mar 2023	28.8	n/a	Cons. · Japanese GAAP
FYE Mar 2024	14.2	−50.6%	Cons. · Japanese GAAP
FYE Mar 2025	-79.7	−660.0%	Cons. · Japanese GAAP
FYE Mar 2026	105	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 ¥1.69tn

Change · 8 yrs +¥1.45tn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	n/a	n/a
FYE Mar 2018	234	n/a
FYE Mar 2019	n/a	n/a
FYE Mar 2020	76.3	n/a
FYE Mar 2021	239	n/a
FYE Mar 2022	751	n/a
FYE Mar 2023	1,014	n/a
FYE Mar 2024	1,446	n/a
FYE Mar 2025	1,294	n/a
FYE Mar 2026	1,687	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 2,639¥

Change · 8 yrs +145¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	n/a	n/a
FYE Mar 2018	2,494	n/a
FYE Mar 2019	n/a	n/a
FYE Mar 2020	812	n/a
FYE Mar 2021	2,540	n/a
FYE Mar 2022	7,990	n/a
FYE Mar 2023	4,045	n/a
FYE Mar 2024	6,069	n/a
FYE Mar 2025	2,024	n/a
FYE Mar 2026	2,639	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 639,172,000shares

Change · 10 yrs +545,234,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	93,938,000	Parent
FYE Mar 2018	93,938,000	Parent
FYE Mar 2019	93,938,000	Parent
FYE Mar 2020	93,938,000	Parent
FYE Mar 2021	93,938,000	Parent
FYE Mar 2022	93,938,000	Parent
FYE Mar 2023	250,712,000	Parent
FYE Mar 2024	238,242,000	Parent
FYE Mar 2025	639,172,000	Parent
FYE Mar 2026	639,172,000	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 210.42¥

Change · 10 yrs +1,698.65¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	-1,488.23	Cons.
FYE Mar 2018	111.13	Cons.
FYE Mar 2019	-397.36	Cons.
FYE Mar 2020	6.28	Cons.
FYE Mar 2021	129.48	Cons.
FYE Mar 2022	765.28	Cons.
FYE Mar 2023	857.01	Cons.
FYE Mar 2024	141.37	Cons.
FYE Mar 2025	460.11	Cons.
FYE Mar 2026	210.42	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 2,820.37¥

Change · 10 yrs +483.88¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	2,336.49	Cons. · Japanese GAAP
FYE Mar 2018	2,310.15	Cons. · Japanese GAAP
FYE Mar 2019	1,102.60	Cons. · Japanese GAAP
FYE Mar 2020	1,076.20	Cons. · Japanese GAAP
FYE Mar 2021	2,322.74	Cons. · Japanese GAAP
FYE Mar 2022	9,417.21	Cons. · Japanese GAAP
FYE Mar 2023	6,044.38	Cons. · Japanese GAAP
FYE Mar 2024	6,681.97	Cons. · Japanese GAAP
FYE Mar 2025	2,579.01	Cons. · Japanese GAAP
FYE Mar 2026	2,820.37	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 12.54×

Average · 8 yrs 9.07×

Fiscal year	PER ×	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	22.44	Cons.
FYE Mar 2019	n/a	Cons.
FYE Mar 2020	14.37	Cons.
FYE Mar 2021	2.18	Cons.
FYE Mar 2022	1.16	Cons.
FYE Mar 2023	1.18	Cons.
FYE Mar 2024	14.31	Cons.
FYE Mar 2025	4.40	Cons.
FYE Mar 2026	12.54	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 0.93×

Average · 8 yrs 0.86×

Fiscal year	PBR ×	Basis
FYE Mar 2017	n/a	Cons.
FYE Mar 2018	1.07	Cons.
FYE Mar 2019	n/a	Cons.
FYE Mar 2020	0.75	Cons.
FYE Mar 2021	1.09	Cons.
FYE Mar 2022	0.84	Cons.
FYE Mar 2023	0.50	Cons.
FYE Mar 2024	0.90	Cons.
FYE Mar 2025	0.78	Cons.
FYE Mar 2026	0.93	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 5,262people

Change · 10 yrs −2,756 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	8,018	n/a	Cons.
FYE Mar 2018	7,153	−10.8%	Cons.
FYE Mar 2019	6,022	−15.8%	Cons.
FYE Mar 2020	6,164	+2.4%	Cons.
FYE Mar 2021	6,080	−1.4%	Cons.
FYE Mar 2022	5,158	−15.2%	Cons.
FYE Mar 2023	4,918	−4.7%	Cons.
FYE Mar 2024	5,012	+1.9%	Cons.
FYE Mar 2025	5,176	+3.3%	Cons.
FYE Mar 2026	5,262	+1.7%	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 962people

Change · 10 yrs +227 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	735	n/a	Parent
FYE Mar 2018	724	−1.5%	Parent
FYE Mar 2019	756	+4.4%	Parent
FYE Mar 2020	767	+1.5%	Parent
FYE Mar 2021	769	+0.3%	Parent
FYE Mar 2022	794	+3.3%	Parent
FYE Mar 2023	804	+1.3%	Parent
FYE Mar 2024	847	+5.3%	Parent
FYE Mar 2025	900	+6.3%	Parent
FYE Mar 2026	962	+6.9%	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 ¥14.5m

Change · 10 yrs +¥5.9m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	8.6	n/a	Parent
FYE Mar 2018	7.7	−9.9%	Parent
FYE Mar 2019	8.3	+7.7%	Parent
FYE Mar 2020	7.9	−5.2%	Parent
FYE Mar 2021	9.1	+15.0%	Parent
FYE Mar 2022	9.9	+9.2%	Parent
FYE Mar 2023	13.3	+34.2%	Parent
FYE Mar 2024	13.9	+4.9%	Parent
FYE Mar 2025	12.2	−12.3%	Parent
FYE Mar 2026	14.5	+18.6%	Parent

Definition: Average total annual compensation, bonuses included
Formula: Average annual pay, from the employee section of the filing
Source: Securities report (XBRL)

Average age

FYE Mar 2026 38.0years

Change · 8 yrs −0.2 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	38.2	n/a	Parent
FYE Mar 2020	38.6	+1.0%	Parent
FYE Mar 2021	38.9	+0.8%	Parent
FYE Mar 2022	38.9	−0.0%	Parent
FYE Mar 2023	39.0	+0.3%	Parent
FYE Mar 2024	38.8	−0.5%	Parent
FYE Mar 2025	38.5	−0.8%	Parent
FYE Mar 2026	38.0	−1.3%	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 13.4years

Change · 10 yrs −0.1 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	13.5	n/a	Parent
FYE Mar 2018	13.6	+0.7%	Parent
FYE Mar 2019	13.6	−0.0%	Parent
FYE Mar 2020	14.1	+3.7%	Parent
FYE Mar 2021	14.4	+2.1%	Parent
FYE Mar 2022	14.5	+0.7%	Parent
FYE Mar 2023	14.6	+0.7%	Parent
FYE Mar 2024	14.3	−2.1%	Parent
FYE Mar 2025	14.0	−2.1%	Parent
FYE Mar 2026	13.4	−4.3%	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)

Temporary employees

FYE Mar 2026 506people

Change · 10 yrs −391 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	897	n/a	n/a
FYE Mar 2018	739	−17.6%	n/a
FYE Mar 2019	574	−22.3%	n/a
FYE Mar 2020	530	−7.7%	n/a
FYE Mar 2021	519	−2.1%	n/a
FYE Mar 2022	515	−0.8%	n/a
FYE Mar 2023	488	−5.2%	n/a
FYE Mar 2024	452	−7.4%	n/a
FYE Mar 2025	477	+5.5%	n/a
FYE Mar 2026	506	+6.1%	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 ¥194m

Change · 10 yrs +¥65.0m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	128	n/a	Cons.
FYE Mar 2018	162	+26.4%	Cons.
FYE Mar 2019	139	−14.5%	Cons.
FYE Mar 2020	119	−14.1%	Cons.
FYE Mar 2021	103	−13.8%	Cons.
FYE Mar 2022	147	+42.7%	Cons.
FYE Mar 2023	192	+30.6%	Cons.
FYE Mar 2024	191	−0.3%	Cons.
FYE Mar 2025	202	+5.9%	Cons.
FYE Mar 2026	194	−4.4%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥16.0m

Change · 10 yrs +¥21.7m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	-5.7	n/a	Cons.
FYE Mar 2018	1.0	n/a	Cons.
FYE Mar 2019	-4.1	−507.0%	Cons.
FYE Mar 2020	1.1	n/a	Cons.
FYE Mar 2021	-3.5	−415.5%	Cons.
FYE Mar 2022	3.4	n/a	Cons.
FYE Mar 2023	16.0	+368.2%	Cons.
FYE Mar 2024	16.8	+4.7%	Cons.
FYE Mar 2025	19.9	+18.3%	Cons.
FYE Mar 2026	16.0	−19.5%	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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