Financials

NS United Kaiun: FYE Mar 2026 and ten years of results (49 metrics)

FYE Mar 2026 · Revenue¥230bnYoY −7.1%

FYE Mar 2026 · Operating profit¥21bnYoY +1.5%

FYE Mar 2026 · Net profit¥24bnYoY +29.4%

FYE Mar 2026 · Equity ratio63.2%YoY +6.6pp

FYE Mar 2026 · Group employees669YoY +13

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥125bn	n/a	¥6.6bn	n/a	5.2%	¥3.3bn	Obata Toru	—
FYE Mar 2018Consolidated	¥139bn	+11.0%	¥7.4bn	+12.2%	5.3%	¥6.6bn	Obata Toru	—
FYE Mar 2019Consolidated	¥151bn	+8.7%	¥8.9bn	+21.1%	5.9%	¥9.3bn	Obata Toru	—
FYE Mar 2020Consolidated	¥148bn	−1.8%	¥7.0bn	−21.0%	4.7%	¥5.9bn	Tanimizu Kazuo	NSU CARAJAS, Japan’s first 400,000-dwt Valemax
FYE Mar 2021Consolidated	¥138bn	−6.7%	¥6.7bn	−4.3%	4.9%	¥6.1bn	Tanimizu Kazuo	Exits tankers; dry-bulk focus under FORWARD 2030
FYE Mar 2022Consolidated	¥196bn	+41.5%	¥27bn	+296.5%	13.6%	¥24bn	Tanimizu Kazuo	—
FYE Mar 2023Consolidated	¥251bn	+28.0%	¥32bn	+21.6%	13.0%	¥28bn	Tanimizu Kazuo	—
FYE Mar 2024Consolidated	¥233bn	−7.1%	¥22bn	−33.5%	9.3%	¥18bn	Tanimizu Kazuo	Record sales ¥250.8bn; ROE above 10%
FYE Mar 2025Consolidated	¥247bn	+6.1%	¥20bn	−6.4%	8.2%	¥19bn	Yamanaka Kazuma	Methanol dual-fuel capesizes ordered
FYE Mar 2026Consolidated	¥230bn	−7.1%	¥21bn	+1.5%	8.9%	¥24bn	Yamanaka Kazuma	—

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 ¥230bn

CAGR · 10 yrs +7.0%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	125	n/a	Cons. · Japanese GAAP
FYE Mar 2018	139	+11.0%	Cons. · Japanese GAAP
FYE Mar 2019	151	+8.7%	Cons. · Japanese GAAP
FYE Mar 2020	148	−1.8%	Cons. · Japanese GAAP
FYE Mar 2021	138	−6.7%	Cons. · Japanese GAAP
FYE Mar 2022	196	+41.5%	Cons. · Japanese GAAP
FYE Mar 2023	251	+28.0%	Cons. · Japanese GAAP
FYE Mar 2024	233	−7.1%	Cons. · Japanese GAAP
FYE Mar 2025	247	+6.1%	Cons. · Japanese GAAP
FYE Mar 2026	230	−7.1%	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 ¥201bn

CAGR · 10 yrs +6.6%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	113	n/a	Cons. · Japanese GAAP
FYE Mar 2018	126	+11.5%	Cons. · Japanese GAAP
FYE Mar 2019	136	+8.3%	Cons. · Japanese GAAP
FYE Mar 2020	136	−0.6%	Cons. · Japanese GAAP
FYE Mar 2021	126	−7.0%	Cons. · Japanese GAAP
FYE Mar 2022	163	+29.6%	Cons. · Japanese GAAP
FYE Mar 2023	211	+29.5%	Cons. · Japanese GAAP
FYE Mar 2024	204	−3.5%	Cons. · Japanese GAAP
FYE Mar 2025	219	+7.5%	Cons. · Japanese GAAP
FYE Mar 2026	201	−8.5%	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 ¥29bn

CAGR · 10 yrs +9.9%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	12.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.1	+5.6%	Cons. · Japanese GAAP
FYE Mar 2019	14.7	+12.1%	Cons. · Japanese GAAP
FYE Mar 2020	12.8	−12.8%	Cons. · Japanese GAAP
FYE Mar 2021	12.4	−3.2%	Cons. · Japanese GAAP
FYE Mar 2022	32.6	+163.1%	Cons. · Japanese GAAP
FYE Mar 2023	39.4	+20.8%	Cons. · Japanese GAAP
FYE Mar 2024	29.0	−26.3%	Cons. · Japanese GAAP
FYE Mar 2025	28.0	−3.6%	Cons. · Japanese GAAP
FYE Mar 2026	29.0	+3.6%	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 ¥8.5bn

CAGR · 10 yrs +4.2%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.7	−1.8%	Cons. · Japanese GAAP
FYE Mar 2019	5.8	+0.6%	Cons. · Japanese GAAP
FYE Mar 2020	5.8	−0.2%	Cons. · Japanese GAAP
FYE Mar 2021	5.7	−1.9%	Cons. · Japanese GAAP
FYE Mar 2022	5.9	+4.1%	Cons. · Japanese GAAP
FYE Mar 2023	6.9	+16.9%	Cons. · Japanese GAAP
FYE Mar 2024	7.4	+7.9%	Cons. · Japanese GAAP
FYE Mar 2025	7.8	+4.6%	Cons. · Japanese GAAP
FYE Mar 2026	8.5	+9.0%	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 ¥21bn

CAGR · 10 yrs +13.5%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	6.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.4	+12.2%	Cons. · Japanese GAAP
FYE Mar 2019	8.9	+21.1%	Cons. · Japanese GAAP
FYE Mar 2020	7.0	−21.0%	Cons. · Japanese GAAP
FYE Mar 2021	6.7	−4.3%	Cons. · Japanese GAAP
FYE Mar 2022	26.7	+296.5%	Cons. · Japanese GAAP
FYE Mar 2023	32.5	+21.6%	Cons. · Japanese GAAP
FYE Mar 2024	21.6	−33.5%	Cons. · Japanese GAAP
FYE Mar 2025	20.2	−6.4%	Cons. · Japanese GAAP
FYE Mar 2026	20.5	+1.5%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥2.5bn

CAGR · 10 yrs +26.3%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.3	+12.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.6	+66.6%	Cons. · Japanese GAAP
FYE Mar 2020	0.4	−26.8%	Cons. · Japanese GAAP
FYE Mar 2021	0.9	+107.9%	Cons. · Japanese GAAP
FYE Mar 2022	2.1	+144.7%	Cons. · Japanese GAAP
FYE Mar 2023	2.2	+4.0%	Cons. · Japanese GAAP
FYE Mar 2024	2.5	+14.4%	Cons. · Japanese GAAP
FYE Mar 2025	0.7	−70.5%	Cons. · Japanese GAAP
FYE Mar 2026	2.5	+233.9%	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 ¥2.0bn

CAGR · 10 yrs −1.5%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.1	−4.7%	Cons. · Japanese GAAP
FYE Mar 2019	1.7	−21.1%	Cons. · Japanese GAAP
FYE Mar 2020	2.0	+16.7%	Cons. · Japanese GAAP
FYE Mar 2021	2.1	+4.7%	Cons. · Japanese GAAP
FYE Mar 2022	2.2	+7.3%	Cons. · Japanese GAAP
FYE Mar 2023	1.2	−43.9%	Cons. · Japanese GAAP
FYE Mar 2024	1.9	+55.3%	Cons. · Japanese GAAP
FYE Mar 2025	2.0	+1.0%	Cons. · Japanese GAAP
FYE Mar 2026	2.0	+0.7%	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 ¥21bn

CAGR · 10 yrs +18.4%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	4.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.6	+20.6%	Cons. · Japanese GAAP
FYE Mar 2019	7.8	+40.1%	Cons. · Japanese GAAP
FYE Mar 2020	5.5	−29.6%	Cons. · Japanese GAAP
FYE Mar 2021	5.5	+1.0%	Cons. · Japanese GAAP
FYE Mar 2022	26.6	+380.9%	Cons. · Japanese GAAP
FYE Mar 2023	33.4	+25.7%	Cons. · Japanese GAAP
FYE Mar 2024	22.2	−33.7%	Cons. · Japanese GAAP
FYE Mar 2025	19.0	−14.3%	Cons. · Japanese GAAP
FYE Mar 2026	21.0	+10.7%	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 ¥7.0bn

CAGR · 10 yrs +32.8%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.8	+406.0%	Cons. · Japanese GAAP
FYE Mar 2019	3.3	+17.1%	Cons. · Japanese GAAP
FYE Mar 2020	2.9	−11.2%	Cons. · Japanese GAAP
FYE Mar 2021	4.7	+61.6%	Cons. · Japanese GAAP
FYE Mar 2022	2.5	−46.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.4	−83.6%	Cons. · Japanese GAAP
FYE Mar 2024	0.3	−24.4%	Cons. · Japanese GAAP
FYE Mar 2025	2.7	+779.0%	Cons. · Japanese GAAP
FYE Mar 2026	7.0	+158.2%	Cons. · Japanese GAAP

Definition: One-off gains, such as an asset sale
Formula: Extraordinary income line of the income statement
Source: Securities report (XBRL)

Extraordinary loss

FYE Mar 2026 n/a

CAGR · 4 yrs −60.9%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2020	1.2	+118.3%	Cons. · Japanese GAAP
FYE Mar 2021	2.8	+143.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−98.9%	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: One-off losses, such as an impairment or a restructuring charge
Formula: Extraordinary loss line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥24bn

CAGR · 10 yrs +24.6%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.6	+99.1%	Cons. · Japanese GAAP
FYE Mar 2019	9.3	+41.3%	Cons. · Japanese GAAP
FYE Mar 2020	5.9	−36.3%	Cons. · Japanese GAAP
FYE Mar 2021	6.1	+3.1%	Cons. · Japanese GAAP
FYE Mar 2022	23.6	+284.6%	Cons. · Japanese GAAP
FYE Mar 2023	27.6	+17.1%	Cons. · Japanese GAAP
FYE Mar 2024	18.0	−34.8%	Cons. · Japanese GAAP
FYE Mar 2025	18.6	+3.5%	Cons. · Japanese GAAP
FYE Mar 2026	24.1	+29.4%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 12.6%

Average · 10 yrs 11.5%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	9.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	9.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	8.6	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	8.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	16.6	+7.7pp	Cons. · Japanese GAAP
FYE Mar 2023	15.7	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	12.5	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	11.3	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	12.6	+1.3pp	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 8.9%

Average · 10 yrs 7.9%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	5.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	5.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	4.7	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	4.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	13.6	+8.8pp	Cons. · Japanese GAAP
FYE Mar 2023	13.0	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	9.3	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2025	8.2	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	8.9	+0.8pp	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 9.2%

Average · 10 yrs 7.4%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.0	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	5.2	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	3.7	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	4.0	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	13.6	+9.6pp	Cons. · Japanese GAAP
FYE Mar 2023	13.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	9.5	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2025	7.7	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	9.2	+1.5pp	Cons. · Japanese GAAP

Definition: The share of revenue left at the ordinary-profit line
Formula: Ordinary profit ÷ revenue
Source: Securities report (XBRL)

Net margin

FYE Mar 2026 10.5%

Average · 10 yrs 7.1%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.8	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2019	6.2	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	4.0	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2021	4.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	12.0	+7.6pp	Cons. · Japanese GAAP
FYE Mar 2023	11.0	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	7.7	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2025	7.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	10.5	+3.0pp	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 87.4%

Average · 10 yrs 88.5%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	90.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	90.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	90.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	91.4	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	91.1	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	83.4	−7.7pp	Cons. · Japanese GAAP
FYE Mar 2023	84.3	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	87.5	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	88.7	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	87.4	−1.3pp	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 3.7%

Average · 10 yrs 3.6%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	4.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	3.8	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	3.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	4.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	3.0	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2023	2.7	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	3.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	3.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	3.7	+0.5pp	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 ¥296bn

CAGR · 10 yrs +2.7%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	233	n/a	Cons. · Japanese GAAP
FYE Mar 2018	228	−2.0%	Cons. · Japanese GAAP
FYE Mar 2019	224	−2.1%	Cons. · Japanese GAAP
FYE Mar 2020	249	+11.2%	Cons. · Japanese GAAP
FYE Mar 2021	271	+8.9%	Cons. · Japanese GAAP
FYE Mar 2022	275	+1.5%	Cons. · Japanese GAAP
FYE Mar 2023	276	+0.3%	Cons. · Japanese GAAP
FYE Mar 2024	286	+3.8%	Cons. · Japanese GAAP
FYE Mar 2025	288	+0.6%	Cons. · Japanese GAAP
FYE Mar 2026	296	+2.9%	Cons. · Japanese GAAP

Definition: Everything the company holds
Formula: Total assets line of the balance sheet
Source: Securities report (XBRL)

Equity net assets, shareholders' equity

FYE Mar 2026 ¥187bn

CAGR · 10 yrs +10.4%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	76.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	80.7	+5.0%	Cons. · Japanese GAAP
FYE Mar 2019	89.0	+10.4%	Cons. · Japanese GAAP
FYE Mar 2020	91.1	+2.3%	Cons. · Japanese GAAP
FYE Mar 2021	96.4	+5.8%	Cons. · Japanese GAAP
FYE Mar 2022	118	+22.6%	Cons. · Japanese GAAP
FYE Mar 2023	137	+16.3%	Cons. · Japanese GAAP
FYE Mar 2024	150	+8.9%	Cons. · Japanese GAAP
FYE Mar 2025	163	+8.8%	Cons. · Japanese GAAP
FYE Mar 2026	187	+15.0%	Cons. · Japanese GAAP

Definition: The part of the funding that never has to be repaid
Formula: Net assets line of the balance sheet
Source: Securities report (XBRL)

Interest-bearing debt

FYE Mar 2026 ¥64bn

CAGR · 10 yrs −7.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	134	n/a	Cons. · Japanese GAAP
FYE Mar 2018	126	−6.0%	Cons. · Japanese GAAP
FYE Mar 2019	114	−9.4%	Cons. · Japanese GAAP
FYE Mar 2020	132	+16.4%	Cons. · Japanese GAAP
FYE Mar 2021	144	+9.1%	Cons. · Japanese GAAP
FYE Mar 2022	119	−17.4%	Cons. · Japanese GAAP
FYE Mar 2023	101	−15.5%	Cons. · Japanese GAAP
FYE Mar 2024	97.1	−3.7%	Cons. · Japanese GAAP
FYE Mar 2025	85.3	−12.1%	Cons. · Japanese GAAP
FYE Mar 2026	63.6	−25.5%	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 ¥16bn

CAGR · 10 yrs −1.1%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	17.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.0	+44.9%	Cons. · Japanese GAAP
FYE Mar 2019	16.5	−34.0%	Cons. · Japanese GAAP
FYE Mar 2020	37.7	+129.2%	Cons. · Japanese GAAP
FYE Mar 2021	30.0	−20.5%	Cons. · Japanese GAAP
FYE Mar 2022	15.3	−48.9%	Cons. · Japanese GAAP
FYE Mar 2023	19.7	+28.5%	Cons. · Japanese GAAP
FYE Mar 2024	21.3	+8.1%	Cons. · Japanese GAAP
FYE Mar 2025	14.6	−31.5%	Cons. · Japanese GAAP
FYE Mar 2026	15.6	+6.9%	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 ¥48bn

CAGR · 10 yrs −9.4%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	116	n/a	Cons. · Japanese GAAP
FYE Mar 2018	101	−13.5%	Cons. · Japanese GAAP
FYE Mar 2019	97.3	−3.4%	Cons. · Japanese GAAP
FYE Mar 2020	94.7	−2.7%	Cons. · Japanese GAAP
FYE Mar 2021	114	+20.9%	Cons. · Japanese GAAP
FYE Mar 2022	104	−9.2%	Cons. · Japanese GAAP
FYE Mar 2023	81.1	−22.0%	Cons. · Japanese GAAP
FYE Mar 2024	75.8	−6.5%	Cons. · Japanese GAAP
FYE Mar 2025	70.7	−6.7%	Cons. · Japanese GAAP
FYE Mar 2026	48.0	−32.1%	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 ¥1.8bn

CAGR · 10 yrs −5.7%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.6	−13.2%	Cons. · Japanese GAAP
FYE Mar 2019	2.6	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	2.5	−1.9%	Cons. · Japanese GAAP
FYE Mar 2021	2.2	−13.0%	Cons. · Japanese GAAP
FYE Mar 2022	1.9	−13.9%	Cons. · Japanese GAAP
FYE Mar 2023	1.6	−15.7%	Cons. · Japanese GAAP
FYE Mar 2024	1.4	−16.0%	Cons. · Japanese GAAP
FYE Mar 2025	1.6	+15.6%	Cons. · Japanese GAAP
FYE Mar 2026	1.8	+12.5%	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 63.2%

Average · 10 yrs 44.5%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	33.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.3	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2019	39.8	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2020	36.7	−3.2pp	Cons. · Japanese GAAP
FYE Mar 2021	35.6	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2022	43.0	+7.4pp	Cons. · Japanese GAAP
FYE Mar 2023	49.8	+6.8pp	Cons. · Japanese GAAP
FYE Mar 2024	52.2	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2025	56.5	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2026	63.2	+6.6pp	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 34.0%

Average · 10 yrs 107.8%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	174.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	155.8	−18.2pp	Cons. · Japanese GAAP
FYE Mar 2019	127.8	−28.0pp	Cons. · Japanese GAAP
FYE Mar 2020	145.3	+17.5pp	Cons. · Japanese GAAP
FYE Mar 2021	149.9	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2022	101.0	−48.9pp	Cons. · Japanese GAAP
FYE Mar 2023	73.4	−27.6pp	Cons. · Japanese GAAP
FYE Mar 2024	64.9	−8.4pp	Cons. · Japanese GAAP
FYE Mar 2025	52.4	−12.5pp	Cons. · Japanese GAAP
FYE Mar 2026	34.0	−18.4pp	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 12.9%

Average · 10 yrs 11.2%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	4.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.2	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2019	10.5	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2020	6.5	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2021	6.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	20.0	+13.6pp	Cons. · Japanese GAAP
FYE Mar 2023	20.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	12.0	−8.1pp	Cons. · Japanese GAAP
FYE Mar 2025	11.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	12.9	+1.4pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 8.1%

Average · 10 yrs 5.3%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.9	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	4.2	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	2.4	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2021	2.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	8.6	+6.3pp	Cons. · Japanese GAAP
FYE Mar 2023	10.0	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	6.3	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2025	6.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	8.1	+1.7pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.78×

CAGR · 10 yrs +4.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.54	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.61	+13.2%	Cons. · Japanese GAAP
FYE Mar 2019	0.68	+11.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.60	−11.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.51	−14.4%	Cons. · Japanese GAAP
FYE Mar 2022	0.71	+39.4%	Cons. · Japanese GAAP
FYE Mar 2023	0.91	+27.6%	Cons. · Japanese GAAP
FYE Mar 2024	0.81	−10.5%	Cons. · Japanese GAAP
FYE Mar 2025	0.86	+5.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.78	−9.8%	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 ¥35bn

CAGR · 10 yrs +7.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	18.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.8	−16.7%	Cons. · Japanese GAAP
FYE Mar 2019	20.0	+26.4%	Cons. · Japanese GAAP
FYE Mar 2020	16.9	−15.3%	Cons. · Japanese GAAP
FYE Mar 2021	22.7	+34.0%	Cons. · Japanese GAAP
FYE Mar 2022	32.9	+45.1%	Cons. · Japanese GAAP
FYE Mar 2023	42.9	+30.6%	Cons. · Japanese GAAP
FYE Mar 2024	31.0	−27.8%	Cons. · Japanese GAAP
FYE Mar 2025	34.9	+12.4%	Cons. · Japanese GAAP
FYE Mar 2026	35.4	+1.6%	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 ¥2.0bn

Average · 10 yrs -¥12bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-27.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-6.5	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-5.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-39.9	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-25.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-2.0	−1508.6%	Cons. · Japanese GAAP
FYE Mar 2024	-13.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	2.0	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 -¥28bn

Average · 10 yrs -¥11bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	10.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-8.4	−178.8%	Cons. · Japanese GAAP
FYE Mar 2019	-15.5	n/a	Cons. · Japanese GAAP
FYE Mar 2020	16.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	10.1	−37.6%	Cons. · Japanese GAAP
FYE Mar 2022	-29.9	−397.6%	Cons. · Japanese GAAP
FYE Mar 2023	-32.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-12.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-17.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-28.2	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 ¥66bn

CAGR · 10 yrs +10.6%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	26.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	27.3	+3.0%	Cons. · Japanese GAAP
FYE Mar 2019	26.7	−2.0%	Cons. · Japanese GAAP
FYE Mar 2020	19.8	−26.1%	Cons. · Japanese GAAP
FYE Mar 2021	27.6	+39.8%	Cons. · Japanese GAAP
FYE Mar 2022	31.2	+13.0%	Cons. · Japanese GAAP
FYE Mar 2023	40.3	+29.0%	Cons. · Japanese GAAP
FYE Mar 2024	47.1	+16.9%	Cons. · Japanese GAAP
FYE Mar 2025	55.8	+18.5%	Cons. · Japanese GAAP
FYE Mar 2026	65.6	+17.6%	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 ¥37bn

Average · 10 yrs ¥15bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	14.9	+61.0%	Cons. · Japanese GAAP
FYE Mar 2020	-23.0	−254.3%	Cons. · Japanese GAAP
FYE Mar 2021	-2.4	n/a	Cons. · Japanese GAAP
FYE Mar 2022	33.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	41.0	+24.1%	Cons. · Japanese GAAP
FYE Mar 2024	18.0	−56.2%	Cons. · Japanese GAAP
FYE Mar 2025	26.6	+48.2%	Cons. · Japanese GAAP
FYE Mar 2026	37.4	+40.6%	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 15.4%

Average · 10 yrs 14.4%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	15.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.4	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2019	13.2	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2020	11.4	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2021	16.4	+5.0pp	Cons. · Japanese GAAP
FYE Mar 2022	16.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	17.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	13.3	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2025	14.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	15.4	+1.3pp	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 ¥2.0bn

Average · 10 yrs -¥75bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-107	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-98.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-87.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-113	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-117	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-88.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-60.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-50.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-29.5	n/a	Cons. · Japanese GAAP
FYE Mar 2026	2.0	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 ¥174bn

Change · 10 yrs +¥117bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	57.4	n/a
FYE Mar 2018	51.8	n/a
FYE Mar 2019	57.0	n/a
FYE Mar 2020	33.3	n/a
FYE Mar 2021	45.5	n/a
FYE Mar 2022	101	n/a
FYE Mar 2023	98.3	n/a
FYE Mar 2024	110	n/a
FYE Mar 2025	96.6	n/a
FYE Mar 2026	174	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 7,259¥

Change · 10 yrs +7,020¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	240	n/a
FYE Mar 2018	2,161	n/a
FYE Mar 2019	2,379	n/a
FYE Mar 2020	1,388	n/a
FYE Mar 2021	1,899	n/a
FYE Mar 2022	4,203	n/a
FYE Mar 2023	4,100	n/a
FYE Mar 2024	4,579	n/a
FYE Mar 2025	4,030	n/a
FYE Mar 2026	7,259	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 23,971,000shares

Change · 10 yrs −215,736,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	239,707,000	Parent
FYE Mar 2018	23,971,000	Parent
FYE Mar 2019	23,971,000	Parent
FYE Mar 2020	23,971,000	Parent
FYE Mar 2021	23,971,000	Parent
FYE Mar 2022	23,971,000	Parent
FYE Mar 2023	23,971,000	Parent
FYE Mar 2024	23,971,000	Parent
FYE Mar 2025	23,971,000	Parent
FYE Mar 2026	23,971,000	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 1,022.46¥

Change · 10 yrs +881.51¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	140.95	Cons.
FYE Mar 2018	280.61	Cons.
FYE Mar 2019	396.42	Cons.
FYE Mar 2020	252.33	Cons.
FYE Mar 2021	260.17	Cons.
FYE Mar 2022	1,000.67	Cons.
FYE Mar 2023	1,171.29	Cons.
FYE Mar 2024	763.20	Cons.
FYE Mar 2025	790.18	Cons.
FYE Mar 2026	1,022.46	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 7,809.44¥

Change · 10 yrs +7,489.01¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	320.43	Cons. · Japanese GAAP
FYE Mar 2018	3,365.61	Cons. · Japanese GAAP
FYE Mar 2019	3,714.40	Cons. · Japanese GAAP
FYE Mar 2020	3,800.84	Cons. · Japanese GAAP
FYE Mar 2021	4,021.61	Cons. · Japanese GAAP
FYE Mar 2022	4,930.50	Cons. · Japanese GAAP
FYE Mar 2023	5,732.13	Cons. · Japanese GAAP
FYE Mar 2024	6,240.21	Cons. · Japanese GAAP
FYE Mar 2025	6,788.95	Cons. · Japanese GAAP
FYE Mar 2026	7,809.44	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 7.10×

Average · 10 yrs 6.94×

Fiscal year	PER ×	Basis
FYE Mar 2017	17.00	Cons.
FYE Mar 2018	7.70	Cons.
FYE Mar 2019	6.00	Cons.
FYE Mar 2020	5.50	Cons.
FYE Mar 2021	7.30	Cons.
FYE Mar 2022	4.20	Cons.
FYE Mar 2023	3.50	Cons.
FYE Mar 2024	6.00	Cons.
FYE Mar 2025	5.10	Cons.
FYE Mar 2026	7.10	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 0.91×

Average · 10 yrs 0.66×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.74	Cons.
FYE Mar 2018	0.63	Cons.
FYE Mar 2019	0.63	Cons.
FYE Mar 2020	0.36	Cons.
FYE Mar 2021	0.46	Cons.
FYE Mar 2022	0.84	Cons.
FYE Mar 2023	0.70	Cons.
FYE Mar 2024	0.72	Cons.
FYE Mar 2025	0.58	Cons.
FYE Mar 2026	0.91	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 669people

Change · 10 yrs +6 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	663	n/a	Cons.
FYE Mar 2018	670	+1.1%	Cons.
FYE Mar 2019	612	−8.7%	Cons.
FYE Mar 2020	618	+1.0%	Cons.
FYE Mar 2021	636	+2.9%	Cons.
FYE Mar 2022	645	+1.4%	Cons.
FYE Mar 2023	657	+1.9%	Cons.
FYE Mar 2024	649	−1.2%	Cons.
FYE Mar 2025	656	+1.1%	Cons.
FYE Mar 2026	669	+2.0%	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 261people

Change · 10 yrs +58 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	203	n/a	Parent
FYE Mar 2018	201	−1.0%	Parent
FYE Mar 2019	200	−0.5%	Parent
FYE Mar 2020	207	+3.5%	Parent
FYE Mar 2021	212	+2.4%	Parent
FYE Mar 2022	215	+1.4%	Parent
FYE Mar 2023	232	+7.9%	Parent
FYE Mar 2024	234	+0.9%	Parent
FYE Mar 2025	247	+5.6%	Parent
FYE Mar 2026	261	+5.7%	Parent

Definition: Employees of the filing company itself
Formula: Parent-only headcount, from the employee section of the filing
Source: Securities report (XBRL)

Average annual pay parent company

FYE Mar 2026 1,197万円

Change · 8 yrs +318万円

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	879	n/a	Parent
FYE Mar 2020	887	+1.0%	Parent
FYE Mar 2021	872	−1.7%	Parent
FYE Mar 2022	876	+0.4%	Parent
FYE Mar 2023	1,074	+22.5%	Parent
FYE Mar 2024	1,143	+6.5%	Parent
FYE Mar 2025	1,102	−3.6%	Parent
FYE Mar 2026	1,197	+8.6%	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 40.2years

Change · 8 yrs +1.2 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	39.0	n/a	Parent
FYE Mar 2020	39.0	−0.0%	Parent
FYE Mar 2021	39.0	−0.0%	Parent
FYE Mar 2022	39.0	−0.0%	Parent
FYE Mar 2023	39.9	+2.3%	Parent
FYE Mar 2024	40.2	+0.8%	Parent
FYE Mar 2025	40.1	−0.2%	Parent
FYE Mar 2026	40.2	+0.2%	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 14.4years

Change · 8 yrs −0.6 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	15.0	n/a	Parent
FYE Mar 2020	15.0	−0.0%	Parent
FYE Mar 2021	14.0	−6.7%	Parent
FYE Mar 2022	14.0	−0.0%	Parent
FYE Mar 2023	13.8	−1.4%	Parent
FYE Mar 2024	13.8	−0.0%	Parent
FYE Mar 2025	14.7	+6.5%	Parent
FYE Mar 2026	14.4	−2.0%	Parent

Definition: How long the average employee has been with the company
Formula: Average years of service, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Mar 2026 ¥343m

Change · 10 yrs +¥155m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	189	n/a	Cons.
FYE Mar 2018	207	+9.8%	Cons.
FYE Mar 2019	247	+19.0%	Cons.
FYE Mar 2020	240	−2.7%	Cons.
FYE Mar 2021	218	−9.4%	Cons.
FYE Mar 2022	304	+39.5%	Cons.
FYE Mar 2023	382	+25.7%	Cons.
FYE Mar 2024	359	−5.9%	Cons.
FYE Mar 2025	377	+5.0%	Cons.
FYE Mar 2026	343	−8.9%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥30.7m

Change · 10 yrs +¥20.8m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	9.9	n/a	Cons.
FYE Mar 2018	11.0	+11.1%	Cons.
FYE Mar 2019	14.6	+32.5%	Cons.
FYE Mar 2020	11.4	−21.8%	Cons.
FYE Mar 2021	10.6	−7.0%	Cons.
FYE Mar 2022	41.4	+291.0%	Cons.
FYE Mar 2023	49.4	+19.4%	Cons.
FYE Mar 2024	33.3	−32.7%	Cons.
FYE Mar 2025	30.8	−7.4%	Cons.
FYE Mar 2026	30.7	−0.5%	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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