Financials

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

FYE Mar 2026 · Revenue¥127bnYoY −10.3%

FYE Mar 2026 · Operating profit¥13bnYoY −21.4%

FYE Mar 2026 · Net profit¥15bnYoY −16.2%

FYE Mar 2026 · Equity ratio45.6%YoY −1.8pp

FYE Mar 2026 · Group employees688YoY −10

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥83bn	n/a	¥6.6bn	n/a	7.9%	¥3.9bn	—	—
FYE Mar 2018Consolidated	¥81bn	−2.4%	¥5.7bn	−14.3%	6.9%	¥4.2bn	Tosha Hiromi	—
FYE Mar 2019Consolidated	¥85bn	+4.3%	¥4.8bn	−15.4%	5.6%	¥4.7bn	Tosha Hiromi	—
FYE Mar 2020Consolidated	¥89bn	+5.1%	¥4.0bn	−16.9%	4.5%	¥3.8bn	Tosha Hiromi	—
FYE Mar 2021Consolidated	¥89bn	−0.3%	¥6.8bn	+71.8%	7.7%	¥7.7bn	Tosha Hiromi	Buys a London office building — property goes overseas
FYE Mar 2022Consolidated	¥104bn	+17.1%	¥7.5bn	+10.1%	7.2%	¥13bn	Tosha Hiromi	—
FYE Mar 2023Consolidated	¥141bn	+35.8%	¥20bn	+166.0%	14.2%	¥23bn	Tosha Hiromi	LPG dual-fuel VLGC delivered; record earnings begin
FYE Mar 2024Consolidated	¥138bn	−2.4%	¥19bn	−4.8%	13.8%	¥20bn	Tosha Hiromi	—
FYE Mar 2025Consolidated	¥142bn	+2.8%	¥17bn	−10.3%	12.1%	¥18bn	Otani Yusuke	<em>GAS INNOVATOR</em> — the world’s first ammonia carrier
FYE Mar 2026Consolidated	¥127bn	−10.3%	¥13bn	−21.4%	10.6%	¥15bn	Otani Yusuke	—

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 ¥127bn

CAGR · 10 yrs +4.8%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	83.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	81.3	−2.4%	Cons. · Japanese GAAP
FYE Mar 2019	84.8	+4.3%	Cons. · Japanese GAAP
FYE Mar 2020	89.2	+5.1%	Cons. · Japanese GAAP
FYE Mar 2021	88.9	−0.3%	Cons. · Japanese GAAP
FYE Mar 2022	104	+17.1%	Cons. · Japanese GAAP
FYE Mar 2023	141	+35.8%	Cons. · Japanese GAAP
FYE Mar 2024	138	−2.4%	Cons. · Japanese GAAP
FYE Mar 2025	142	+2.8%	Cons. · Japanese GAAP
FYE Mar 2026	127	−10.3%	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 ¥103bn

CAGR · 10 yrs +4.5%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	69.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	68.8	−1.5%	Cons. · Japanese GAAP
FYE Mar 2019	73.2	+6.3%	Cons. · Japanese GAAP
FYE Mar 2020	78.1	+6.7%	Cons. · Japanese GAAP
FYE Mar 2021	75.6	−3.2%	Cons. · Japanese GAAP
FYE Mar 2022	89.2	+17.9%	Cons. · Japanese GAAP
FYE Mar 2023	112	+26.1%	Cons. · Japanese GAAP
FYE Mar 2024	109	−3.3%	Cons. · Japanese GAAP
FYE Mar 2025	113	+4.3%	Cons. · Japanese GAAP
FYE Mar 2026	103	−8.7%	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 ¥24bn

CAGR · 10 yrs +6.6%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	13.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.5	−6.9%	Cons. · Japanese GAAP
FYE Mar 2019	11.7	−6.7%	Cons. · Japanese GAAP
FYE Mar 2020	11.1	−4.9%	Cons. · Japanese GAAP
FYE Mar 2021	13.3	+20.0%	Cons. · Japanese GAAP
FYE Mar 2022	14.9	+12.1%	Cons. · Japanese GAAP
FYE Mar 2023	28.9	+93.4%	Cons. · Japanese GAAP
FYE Mar 2024	29.3	+1.3%	Cons. · Japanese GAAP
FYE Mar 2025	28.5	−2.6%	Cons. · Japanese GAAP
FYE Mar 2026	23.8	−16.5%	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 ¥10bn

CAGR · 10 yrs +4.7%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	6.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.9	+0.3%	Cons. · Japanese GAAP
FYE Mar 2019	6.9	+0.5%	Cons. · Japanese GAAP
FYE Mar 2020	7.1	+3.3%	Cons. · Japanese GAAP
FYE Mar 2021	6.5	−8.9%	Cons. · Japanese GAAP
FYE Mar 2022	7.4	+14.3%	Cons. · Japanese GAAP
FYE Mar 2023	8.9	+19.8%	Cons. · Japanese GAAP
FYE Mar 2024	10.2	+14.9%	Cons. · Japanese GAAP
FYE Mar 2025	11.4	+11.8%	Cons. · Japanese GAAP
FYE Mar 2026	10.4	−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 ¥13bn

CAGR · 10 yrs +8.2%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	6.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.7	−14.3%	Cons. · Japanese GAAP
FYE Mar 2019	4.8	−15.4%	Cons. · Japanese GAAP
FYE Mar 2020	4.0	−16.9%	Cons. · Japanese GAAP
FYE Mar 2021	6.8	+71.8%	Cons. · Japanese GAAP
FYE Mar 2022	7.5	+10.1%	Cons. · Japanese GAAP
FYE Mar 2023	20.0	+166.0%	Cons. · Japanese GAAP
FYE Mar 2024	19.1	−4.8%	Cons. · Japanese GAAP
FYE Mar 2025	17.1	−10.3%	Cons. · Japanese GAAP
FYE Mar 2026	13.4	−21.4%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥5.4bn

CAGR · 10 yrs +24.6%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.2	+55.4%	Cons. · Japanese GAAP
FYE Mar 2019	1.7	+49.3%	Cons. · Japanese GAAP
FYE Mar 2020	1.2	−32.8%	Cons. · Japanese GAAP
FYE Mar 2021	1.5	+26.9%	Cons. · Japanese GAAP
FYE Mar 2022	3.3	+121.7%	Cons. · Japanese GAAP
FYE Mar 2023	2.5	−24.4%	Cons. · Japanese GAAP
FYE Mar 2024	4.2	+72.2%	Cons. · Japanese GAAP
FYE Mar 2025	2.7	−35.5%	Cons. · Japanese GAAP
FYE Mar 2026	5.4	+97.3%	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 ¥1.9bn

CAGR · 10 yrs −1.5%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.2	−2.5%	Cons. · Japanese GAAP
FYE Mar 2019	1.8	−17.1%	Cons. · Japanese GAAP
FYE Mar 2020	1.7	−6.9%	Cons. · Japanese GAAP
FYE Mar 2021	1.5	−11.2%	Cons. · Japanese GAAP
FYE Mar 2022	1.3	−9.6%	Cons. · Japanese GAAP
FYE Mar 2023	1.6	+20.1%	Cons. · Japanese GAAP
FYE Mar 2024	1.5	−7.4%	Cons. · Japanese GAAP
FYE Mar 2025	2.5	+64.4%	Cons. · Japanese GAAP
FYE Mar 2026	1.9	−21.1%	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 ¥17bn

CAGR · 10 yrs +14.2%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	5.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.6	−9.3%	Cons. · Japanese GAAP
FYE Mar 2019	4.7	+1.5%	Cons. · Japanese GAAP
FYE Mar 2020	3.5	−26.5%	Cons. · Japanese GAAP
FYE Mar 2021	6.8	+97.1%	Cons. · Japanese GAAP
FYE Mar 2022	9.4	+38.5%	Cons. · Japanese GAAP
FYE Mar 2023	20.9	+121.2%	Cons. · Japanese GAAP
FYE Mar 2024	21.8	+4.5%	Cons. · Japanese GAAP
FYE Mar 2025	17.4	−20.3%	Cons. · Japanese GAAP
FYE Mar 2026	16.9	−2.8%	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 ¥1.3bn

CAGR · 10 yrs −11.2%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	3.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.6	−5.3%	Cons. · Japanese GAAP
FYE Mar 2019	2.2	−39.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.0	−55.2%	Cons. · Japanese GAAP
FYE Mar 2021	1.4	+40.9%	Cons. · Japanese GAAP
FYE Mar 2022	4.6	+234.8%	Cons. · Japanese GAAP
FYE Mar 2023	4.1	−9.3%	Cons. · Japanese GAAP
FYE Mar 2024	1.5	−63.6%	Cons. · Japanese GAAP
FYE Mar 2025	2.7	+81.5%	Cons. · Japanese GAAP
FYE Mar 2026	1.3	−52.5%	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 ¥0.2bn

CAGR · 5 yrs −6.6%

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	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	0.0	−92.6%	Cons. · Japanese GAAP
FYE Mar 2022	1.0	+5841.2%	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	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	0.2	+66.0%	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 ¥15bn

CAGR · 10 yrs +16.5%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.2	+9.2%	Cons. · Japanese GAAP
FYE Mar 2019	4.7	+10.4%	Cons. · Japanese GAAP
FYE Mar 2020	3.8	−19.1%	Cons. · Japanese GAAP
FYE Mar 2021	7.7	+102.1%	Cons. · Japanese GAAP
FYE Mar 2022	12.5	+63.6%	Cons. · Japanese GAAP
FYE Mar 2023	23.4	+86.6%	Cons. · Japanese GAAP
FYE Mar 2024	19.7	−15.5%	Cons. · Japanese GAAP
FYE Mar 2025	18.4	−7.0%	Cons. · Japanese GAAP
FYE Mar 2026	15.4	−16.2%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 18.7%

Average · 10 yrs 16.8%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	16.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.4	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	13.8	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2020	12.5	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	15.0	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2022	14.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	20.5	+6.1pp	Cons. · Japanese GAAP
FYE Mar 2024	21.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	20.1	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	18.7	−1.4pp	Cons. · Japanese GAAP

Definition: The share of revenue left after the cost of sales
Formula: Gross profit ÷ revenue
Source: Securities report (XBRL)

Operating margin

FYE Mar 2026 10.6%

Average · 10 yrs 9.0%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.9	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	5.6	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	4.5	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	7.7	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2022	7.2	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	14.2	+6.9pp	Cons. · Japanese GAAP
FYE Mar 2024	13.8	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	12.1	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	10.6	−1.5pp	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 13.3%

Average · 10 yrs 9.4%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	6.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	5.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	3.9	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	7.7	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2022	9.1	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	14.8	+5.7pp	Cons. · Japanese GAAP
FYE Mar 2024	15.8	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	12.2	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2026	13.3	+1.0pp	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 12.1%

Average · 10 yrs 9.6%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	4.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.2	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	5.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	4.2	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	8.6	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2022	12.0	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2023	16.5	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2024	14.3	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2025	12.9	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	12.1	−0.9pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 81.3%

Average · 10 yrs 83.2%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	83.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	84.6	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	86.2	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2020	87.5	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	85.0	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2022	85.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	79.5	−6.1pp	Cons. · Japanese GAAP
FYE Mar 2024	78.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	79.9	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	81.3	+1.4pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by the cost of sales
Formula: Cost of sales ÷ revenue
Source: Securities report (XBRL)

SG&A ratio

FYE Mar 2026 8.2%

Average · 10 yrs 7.7%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	8.1	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	8.0	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	7.3	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	7.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	6.3	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	7.4	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	8.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	8.2	+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 ¥347bn

CAGR · 10 yrs +6.1%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	204	n/a	Cons. · Japanese GAAP
FYE Mar 2018	210	+3.1%	Cons. · Japanese GAAP
FYE Mar 2019	222	+5.8%	Cons. · Japanese GAAP
FYE Mar 2020	231	+3.9%	Cons. · Japanese GAAP
FYE Mar 2021	246	+6.3%	Cons. · Japanese GAAP
FYE Mar 2022	247	+0.6%	Cons. · Japanese GAAP
FYE Mar 2023	265	+7.4%	Cons. · Japanese GAAP
FYE Mar 2024	293	+10.5%	Cons. · Japanese GAAP
FYE Mar 2025	306	+4.5%	Cons. · Japanese GAAP
FYE Mar 2026	347	+13.1%	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 ¥158bn

CAGR · 10 yrs +9.7%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	68.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	69.1	+0.6%	Cons. · Japanese GAAP
FYE Mar 2019	72.9	+5.5%	Cons. · Japanese GAAP
FYE Mar 2020	73.3	+0.5%	Cons. · Japanese GAAP
FYE Mar 2021	79.7	+8.8%	Cons. · Japanese GAAP
FYE Mar 2022	91.3	+14.5%	Cons. · Japanese GAAP
FYE Mar 2023	111	+21.1%	Cons. · Japanese GAAP
FYE Mar 2024	132	+19.5%	Cons. · Japanese GAAP
FYE Mar 2025	146	+10.2%	Cons. · Japanese GAAP
FYE Mar 2026	158	+8.7%	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 ¥142bn

CAGR · 10 yrs +3.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	108	n/a	Cons. · Japanese GAAP
FYE Mar 2018	115	+6.8%	Cons. · Japanese GAAP
FYE Mar 2019	118	+2.5%	Cons. · Japanese GAAP
FYE Mar 2020	126	+7.1%	Cons. · Japanese GAAP
FYE Mar 2021	127	+0.3%	Cons. · Japanese GAAP
FYE Mar 2022	116	−8.5%	Cons. · Japanese GAAP
FYE Mar 2023	110	−5.4%	Cons. · Japanese GAAP
FYE Mar 2024	119	+8.3%	Cons. · Japanese GAAP
FYE Mar 2025	121	+1.6%	Cons. · Japanese GAAP
FYE Mar 2026	142	+17.5%	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 ¥26bn

CAGR · 10 yrs +0.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	25.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.1	+19.6%	Cons. · Japanese GAAP
FYE Mar 2019	38.8	+29.0%	Cons. · Japanese GAAP
FYE Mar 2020	34.9	−10.1%	Cons. · Japanese GAAP
FYE Mar 2021	26.7	−23.5%	Cons. · Japanese GAAP
FYE Mar 2022	23.3	−12.6%	Cons. · Japanese GAAP
FYE Mar 2023	29.2	+25.2%	Cons. · Japanese GAAP
FYE Mar 2024	33.5	+14.7%	Cons. · Japanese GAAP
FYE Mar 2025	48.6	+45.1%	Cons. · Japanese GAAP
FYE Mar 2026	25.5	−47.5%	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 ¥116bn

CAGR · 10 yrs +3.9%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	82.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	85.0	+2.9%	Cons. · Japanese GAAP
FYE Mar 2019	79.1	−6.9%	Cons. · Japanese GAAP
FYE Mar 2020	91.4	+15.5%	Cons. · Japanese GAAP
FYE Mar 2021	100	+9.4%	Cons. · Japanese GAAP
FYE Mar 2022	92.6	−7.4%	Cons. · Japanese GAAP
FYE Mar 2023	80.5	−13.1%	Cons. · Japanese GAAP
FYE Mar 2024	85.3	+5.9%	Cons. · Japanese GAAP
FYE Mar 2025	72.1	−15.5%	Cons. · Japanese GAAP
FYE Mar 2026	116	+61.2%	Cons. · Japanese GAAP

Definition: Borrowings repayable in more than a year
Formula: Long-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥3.9bn

CAGR · 10 yrs +22.4%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.6	−6.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.6	−2.5%	Cons. · Japanese GAAP
FYE Mar 2020	0.6	−4.8%	Cons. · Japanese GAAP
FYE Mar 2021	0.5	−4.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.6	+19.8%	Cons. · Japanese GAAP
FYE Mar 2023	0.3	−56.8%	Cons. · Japanese GAAP
FYE Mar 2024	3.2	+1077.4%	Cons. · Japanese GAAP
FYE Mar 2025	3.7	+13.5%	Cons. · Japanese GAAP
FYE Mar 2026	3.9	+6.5%	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 45.6%

Average · 10 yrs 38.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	33.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.9	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	32.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	31.7	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	32.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	36.9	+4.5pp	Cons. · Japanese GAAP
FYE Mar 2023	41.6	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2024	45.0	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2025	47.5	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2026	45.6	−1.8pp	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 89.6%

Average · 10 yrs 130.5%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	156.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	166.5	+9.6pp	Cons. · Japanese GAAP
FYE Mar 2019	161.8	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2020	172.4	+10.6pp	Cons. · Japanese GAAP
FYE Mar 2021	159.0	−13.4pp	Cons. · Japanese GAAP
FYE Mar 2022	127.0	−32.0pp	Cons. · Japanese GAAP
FYE Mar 2023	99.2	−27.8pp	Cons. · Japanese GAAP
FYE Mar 2024	89.9	−9.3pp	Cons. · Japanese GAAP
FYE Mar 2025	82.9	−7.0pp	Cons. · Japanese GAAP
FYE Mar 2026	89.6	+6.6pp	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 9.7%

Average · 10 yrs 10.5%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.1	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	6.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	5.2	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	9.6	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2022	13.7	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2023	21.1	+7.4pp	Cons. · Japanese GAAP
FYE Mar 2024	15.0	−6.2pp	Cons. · Japanese GAAP
FYE Mar 2025	12.6	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	9.7	−2.9pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 4.4%

Average · 10 yrs 4.2%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.0	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	2.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	1.6	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	3.1	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2022	5.1	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2023	8.8	+3.7pp	Cons. · Japanese GAAP
FYE Mar 2024	6.7	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2025	6.0	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	4.4	−1.6pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.37×

CAGR · 10 yrs −1.2%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.41	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.39	−5.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.38	−1.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.39	+1.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.36	−6.2%	Cons. · Japanese GAAP
FYE Mar 2022	0.42	+16.4%	Cons. · Japanese GAAP
FYE Mar 2023	0.53	+26.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.47	−11.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.46	−1.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.37	−20.7%	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 ¥30bn

CAGR · 10 yrs +11.6%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	11.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.1	+9.4%	Cons. · Japanese GAAP
FYE Mar 2019	14.5	+20.1%	Cons. · Japanese GAAP
FYE Mar 2020	13.1	−10.1%	Cons. · Japanese GAAP
FYE Mar 2021	19.3	+47.4%	Cons. · Japanese GAAP
FYE Mar 2022	15.8	−18.2%	Cons. · Japanese GAAP
FYE Mar 2023	35.3	+123.5%	Cons. · Japanese GAAP
FYE Mar 2024	29.4	−16.5%	Cons. · Japanese GAAP
FYE Mar 2025	30.7	+4.4%	Cons. · Japanese GAAP
FYE Mar 2026	29.9	−2.8%	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 -¥42bn

Average · 10 yrs -¥18bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	12.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-15.4	−220.4%	Cons. · Japanese GAAP
FYE Mar 2019	-21.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-14.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-23.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-3.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-18.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-22.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-30.8	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-42.1	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 ¥14bn

Average · 10 yrs -¥3.5bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-27.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	5.8	+73.9%	Cons. · Japanese GAAP
FYE Mar 2020	6.2	+7.0%	Cons. · Japanese GAAP
FYE Mar 2021	2.9	−53.6%	Cons. · Japanese GAAP
FYE Mar 2022	-14.8	−612.2%	Cons. · Japanese GAAP
FYE Mar 2023	-13.2	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-8.3	n/a	Cons. · Japanese GAAP
FYE Mar 2026	14.3	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 ¥14bn

CAGR · 10 yrs +3.1%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	10.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.5	−1.7%	Cons. · Japanese GAAP
FYE Mar 2019	9.8	−6.7%	Cons. · Japanese GAAP
FYE Mar 2020	14.2	+44.6%	Cons. · Japanese GAAP
FYE Mar 2021	13.3	−6.4%	Cons. · Japanese GAAP
FYE Mar 2022	11.7	−12.4%	Cons. · Japanese GAAP
FYE Mar 2023	15.5	+33.2%	Cons. · Japanese GAAP
FYE Mar 2024	19.9	+27.9%	Cons. · Japanese GAAP
FYE Mar 2025	11.6	−41.6%	Cons. · Japanese GAAP
FYE Mar 2026	14.1	+21.2%	Cons. · Japanese GAAP

Definition: Cash on hand at the year end
Formula: Closing balance in the cash flow statement
Source: Securities report (XBRL)

Free cash flow

FYE Mar 2026 -¥12bn

Average · 10 yrs ¥3.3bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	23.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-3.3	−113.8%	Cons. · Japanese GAAP
FYE Mar 2019	-6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2022	12.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	16.8	+32.5%	Cons. · Japanese GAAP
FYE Mar 2024	7.4	−55.7%	Cons. · Japanese GAAP
FYE Mar 2025	-0.1	−100.8%	Cons. · Japanese GAAP
FYE Mar 2026	-12.3	n/a	Cons. · Japanese GAAP

Definition: What is left once the business has paid for its own investment
Formula: Operating cash flow + investing cash flow
Source: Securities report (XBRL)

Operating cash flow margin

FYE Mar 2026 23.5%

Average · 10 yrs 18.8%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	13.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.9	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2019	17.1	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2020	14.7	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2021	21.7	+7.0pp	Cons. · Japanese GAAP
FYE Mar 2022	15.2	−6.5pp	Cons. · Japanese GAAP
FYE Mar 2023	25.0	+9.8pp	Cons. · Japanese GAAP
FYE Mar 2024	21.3	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2025	21.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	23.5	+1.8pp	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 -¥128bn

Average · 10 yrs -¥107bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-97.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-105	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-108	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-112	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-113	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-104	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-94.2	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-98.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-109	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-128	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 ¥191bn

Change · 10 yrs +¥137bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	54.1	n/a
FYE Mar 2018	56.5	n/a
FYE Mar 2019	41.4	n/a
FYE Mar 2020	34.4	n/a
FYE Mar 2021	57.8	n/a
FYE Mar 2022	90.0	n/a
FYE Mar 2023	109	n/a
FYE Mar 2024	134	n/a
FYE Mar 2025	109	n/a
FYE Mar 2026	191	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 1,751¥

Change · 10 yrs +1,264¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	487	n/a
FYE Mar 2018	509	n/a
FYE Mar 2019	373	n/a
FYE Mar 2020	310	n/a
FYE Mar 2021	530	n/a
FYE Mar 2022	826	n/a
FYE Mar 2023	1,003	n/a
FYE Mar 2024	1,226	n/a
FYE Mar 2025	996	n/a
FYE Mar 2026	1,751	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 108,900,000shares

Change · 10 yrs −2,175,980 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	111,075,980	Parent
FYE Mar 2018	111,075,980	Parent
FYE Mar 2019	111,075,980	Parent
FYE Mar 2020	111,075,980	Parent
FYE Mar 2021	108,900,000	Parent
FYE Mar 2022	108,900,000	Parent
FYE Mar 2023	108,900,000	Parent
FYE Mar 2024	108,900,000	Parent
FYE Mar 2025	108,900,000	Parent
FYE Mar 2026	108,900,000	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 145.47¥

Change · 10 yrs +110.46¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	35.01	Cons.
FYE Mar 2018	38.53	Cons.
FYE Mar 2019	44.28	Cons.
FYE Mar 2020	35.80	Cons.
FYE Mar 2021	72.35	Cons.
FYE Mar 2022	118.39	Cons.
FYE Mar 2023	220.96	Cons.
FYE Mar 2024	186.61	Cons.
FYE Mar 2025	173.60	Cons.
FYE Mar 2026	145.47	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 1,452.93¥

Change · 10 yrs +834.35¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	618.58	Cons. · Japanese GAAP
FYE Mar 2018	622.31	Cons. · Japanese GAAP
FYE Mar 2019	656.56	Cons. · Japanese GAAP
FYE Mar 2020	659.77	Cons. · Japanese GAAP
FYE Mar 2021	732.14	Cons. · Japanese GAAP
FYE Mar 2022	838.48	Cons. · Japanese GAAP
FYE Mar 2023	1,015.24	Cons. · Japanese GAAP
FYE Mar 2024	1,212.75	Cons. · Japanese GAAP
FYE Mar 2025	1,336.13	Cons. · Japanese GAAP
FYE Mar 2026	1,452.93	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 12.04×

Average · 10 yrs 8.74×

Fiscal year	PER ×	Basis
FYE Mar 2017	13.91	Cons.
FYE Mar 2018	13.21	Cons.
FYE Mar 2019	8.42	Cons.
FYE Mar 2020	8.66	Cons.
FYE Mar 2021	7.33	Cons.
FYE Mar 2022	6.98	Cons.
FYE Mar 2023	4.54	Cons.
FYE Mar 2024	6.57	Cons.
FYE Mar 2025	5.74	Cons.
FYE Mar 2026	12.04	Cons.

Definition: How many years of earnings the price stands for
Formula: Year-end price ÷ EPS
Source: Securities report (XBRL)

PBR price-to-book ratio

FYE Mar 2026 1.17×

Average · 10 yrs 0.81×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.79	Cons.
FYE Mar 2018	0.78	Cons.
FYE Mar 2019	0.54	Cons.
FYE Mar 2020	0.45	Cons.
FYE Mar 2021	0.70	Cons.
FYE Mar 2022	0.96	Cons.
FYE Mar 2023	0.96	Cons.
FYE Mar 2024	0.98	Cons.
FYE Mar 2025	0.72	Cons.
FYE Mar 2026	1.17	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 688people

Change · 10 yrs +62 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	626	n/a	Cons.
FYE Mar 2018	622	−0.6%	Cons.
FYE Mar 2019	629	+1.1%	Cons.
FYE Mar 2020	646	+2.7%	Cons.
FYE Mar 2021	659	+2.0%	Cons.
FYE Mar 2022	644	−2.3%	Cons.
FYE Mar 2023	669	+3.9%	Cons.
FYE Mar 2024	680	+1.6%	Cons.
FYE Mar 2025	698	+2.6%	Cons.
FYE Mar 2026	688	−1.4%	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 209people

Change · 10 yrs +60 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	149	n/a	Parent
FYE Mar 2018	147	−1.3%	Parent
FYE Mar 2019	152	+3.4%	Parent
FYE Mar 2020	160	+5.3%	Parent
FYE Mar 2021	166	+3.8%	Parent
FYE Mar 2022	169	+1.8%	Parent
FYE Mar 2023	183	+8.3%	Parent
FYE Mar 2024	196	+7.1%	Parent
FYE Mar 2025	211	+7.7%	Parent
FYE Mar 2026	209	−0.9%	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 1,285万円

Change · 8 yrs +348万円

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	937	n/a	Parent
FYE Mar 2020	954	+1.8%	Parent
FYE Mar 2021	901	−5.6%	Parent
FYE Mar 2022	942	+4.6%	Parent
FYE Mar 2023	1,143	+21.3%	Parent
FYE Mar 2024	1,407	+23.0%	Parent
FYE Mar 2025	1,287	−8.5%	Parent
FYE Mar 2026	1,285	−0.1%	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 38.6years

Change · 8 yrs +1.3 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	37.3	n/a	Parent
FYE Mar 2020	37.7	+1.1%	Parent
FYE Mar 2021	37.4	−0.8%	Parent
FYE Mar 2022	37.7	+0.8%	Parent
FYE Mar 2023	37.9	+0.5%	Parent
FYE Mar 2024	37.9	−0.0%	Parent
FYE Mar 2025	38.3	+1.1%	Parent
FYE Mar 2026	38.6	+0.8%	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 13.2years

Change · 8 yrs +0.3 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	12.9	n/a	Parent
FYE Mar 2020	13.2	+2.3%	Parent
FYE Mar 2021	13.3	+0.8%	Parent
FYE Mar 2022	13.3	−0.0%	Parent
FYE Mar 2023	13.0	−2.3%	Parent
FYE Mar 2024	12.8	−1.5%	Parent
FYE Mar 2025	13.0	+1.6%	Parent
FYE Mar 2026	13.2	+1.5%	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 ¥185m

Change · 10 yrs +¥51.9m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	133	n/a	Cons.
FYE Mar 2018	131	−1.8%	Cons.
FYE Mar 2019	135	+3.2%	Cons.
FYE Mar 2020	138	+2.3%	Cons.
FYE Mar 2021	135	−2.3%	Cons.
FYE Mar 2022	162	+19.8%	Cons.
FYE Mar 2023	211	+30.7%	Cons.
FYE Mar 2024	203	−4.0%	Cons.
FYE Mar 2025	203	+0.2%	Cons.
FYE Mar 2026	185	−9.0%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥19.5m

Change · 10 yrs +¥9.0m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	10.5	n/a	Cons.
FYE Mar 2018	9.1	−13.7%	Cons.
FYE Mar 2019	7.6	−16.3%	Cons.
FYE Mar 2020	6.2	−19.0%	Cons.
FYE Mar 2021	10.4	+68.4%	Cons.
FYE Mar 2022	11.7	+12.7%	Cons.
FYE Mar 2023	29.9	+156.1%	Cons.
FYE Mar 2024	28.0	−6.3%	Cons.
FYE Mar 2025	24.5	−12.6%	Cons.
FYE Mar 2026	19.5	−20.3%	Cons.

Definition: What each employee accounts for in operating profit
Formula: Operating profit ÷ group employees
Source: Securities report (XBRL)

Disclaimer

Figures are reproduced as filed and are not restated: a change of accounting standard or of consolidation basis moves the series without anything happening to the business. Where that happened, the table says so in place of the year-on-year figure.
Ratios and per-employee figures are computed from the filed lines rather than taken from the filing, and use year-end balances rather than averages.

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