Financials

Kyushu Railway (JR Kyushu): FYE Mar 2026 and ten years of results (49 metrics)

FYE Mar 2026 · Revenue¥500bnYoY +10.1%

FYE Mar 2026 · Operating profit¥74bnYoY +25.5%

FYE Mar 2026 · Net profit¥45bnYoY +4.1%

FYE Mar 2026 · Equity ratio40.4%YoY +0.4pp

FYE Mar 2026 · Group employees15,365YoY +163

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥383bn	n/a	¥59bn	n/a	15.3%	¥45bn	Aoyagi Toshihiko	<span class="en-history_money" data-yen="546200000000" data-year="2016">$5.0B (¥546bn)</span> write-down of railway assets; TSE First Section listing
FYE Mar 2018Consolidated	¥413bn	+8.0%	¥64bn	+8.9%	15.5%	¥50bn	Aoyagi Toshihiko	—
FYE Mar 2019Consolidated	¥440bn	+6.5%	¥64bn	−0.1%	14.5%	¥49bn	Aoyagi Toshihiko	—
FYE Mar 2020Consolidated	¥433bn	−1.8%	¥49bn	−22.7%	11.4%	¥31bn	Aoyagi Toshihiko	—
FYE Mar 2021Consolidated	¥294bn	−32.1%	-¥23bn	−146.3%	-7.8%	-¥19bn	Aoyagi Toshihiko	—
FYE Mar 2022Consolidated	¥330bn	+12.1%	¥3.9bn	n/a	1.2%	¥13bn	Aoyagi Toshihiko	Covid halves transport revenue; first consolidated loss since listing
FYE Mar 2023Consolidated	¥383bn	+16.3%	¥34bn	+770.3%	9.0%	¥31bn	Aoyagi Toshihiko	Nishi-Kyushu Shinkansen opens, Takeo-Onsen–Nagasaki
FYE Mar 2024Consolidated	¥420bn	+9.7%	¥47bn	+37.2%	11.2%	¥38bn	Komiya Yoji	Exits drugstores; buys a confectioner; consolidates five contractors
FYE Mar 2025Consolidated	¥454bn	+8.1%	¥59bn	+25.2%	13.0%	¥44bn	Komiya Yoji	—
FYE Mar 2026Consolidated	¥500bn	+10.1%	¥74bn	+25.5%	14.8%	¥45bn	Komiya Yoji	Medium-Term Plan 2025–2027 — <span class="en-history_money" data-yen="230000000000" data-year="2025">$1.5B (¥230bn)</span> of growth investment

How it compares

South Manchuria RailwayDissolved 1945

Japanese National RailwaysDissolved 1987

East Japan Railway (JR East)¥3.08tnFY2025Operating margin 13.4%Central Japan Railway (JR Central)¥2.01tnFY2025Operating margin 41.4%West Japan Railway (JR West)¥1.85tnFY2025Operating margin 10.7%

Kyushu Railway (JR Kyushu)¥500bnFY2025Operating margin 14.8%

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 ¥500bn

CAGR · 10 yrs +3.0%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	383	n/a	Cons. · Japanese GAAP
FYE Mar 2018	413	+8.0%	Cons. · Japanese GAAP
FYE Mar 2019	440	+6.5%	Cons. · Japanese GAAP
FYE Mar 2020	433	−1.8%	Cons. · Japanese GAAP
FYE Mar 2021	294	−32.1%	Cons. · Japanese GAAP
FYE Mar 2022	330	+12.1%	Cons. · Japanese GAAP
FYE Mar 2023	383	+16.3%	Cons. · Japanese GAAP
FYE Mar 2024	420	+9.7%	Cons. · Japanese GAAP
FYE Mar 2025	454	+8.1%	Cons. · Japanese GAAP
FYE Mar 2026	500	+10.1%	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 ¥287bn

CAGR · 10 yrs +2.2%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	236	n/a	Cons. · Japanese GAAP
FYE Mar 2018	254	+7.5%	Cons. · Japanese GAAP
FYE Mar 2019	273	+7.7%	Cons. · Japanese GAAP
FYE Mar 2020	273	+0.1%	Cons. · Japanese GAAP
FYE Mar 2021	225	−17.7%	Cons. · Japanese GAAP
FYE Mar 2022	233	+3.3%	Cons. · Japanese GAAP
FYE Mar 2023	245	+5.5%	Cons. · Japanese GAAP
FYE Mar 2024	255	+4.0%	Cons. · Japanese GAAP
FYE Mar 2025	265	+3.9%	Cons. · Japanese GAAP
FYE Mar 2026	287	+8.4%	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 ¥213bn

CAGR · 10 yrs +4.2%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	147	n/a	Cons. · Japanese GAAP
FYE Mar 2018	160	+8.7%	Cons. · Japanese GAAP
FYE Mar 2019	167	+4.7%	Cons. · Japanese GAAP
FYE Mar 2020	159	−4.8%	Cons. · Japanese GAAP
FYE Mar 2021	68.9	−56.7%	Cons. · Japanese GAAP
FYE Mar 2022	97.0	+40.8%	Cons. · Japanese GAAP
FYE Mar 2023	138	+42.3%	Cons. · Japanese GAAP
FYE Mar 2024	165	+19.8%	Cons. · Japanese GAAP
FYE Mar 2025	189	+14.6%	Cons. · Japanese GAAP
FYE Mar 2026	213	+12.5%	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 ¥139bn

CAGR · 10 yrs +5.2%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	88.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	95.9	+8.6%	Cons. · Japanese GAAP
FYE Mar 2019	103	+7.9%	Cons. · Japanese GAAP
FYE Mar 2020	110	+6.2%	Cons. · Japanese GAAP
FYE Mar 2021	91.8	−16.5%	Cons. · Japanese GAAP
FYE Mar 2022	93.0	+1.4%	Cons. · Japanese GAAP
FYE Mar 2023	104	+11.4%	Cons. · Japanese GAAP
FYE Mar 2024	118	+14.0%	Cons. · Japanese GAAP
FYE Mar 2025	130	+10.3%	Cons. · Japanese GAAP
FYE Mar 2026	139	+6.6%	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 ¥74bn

CAGR · 10 yrs +2.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	58.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	64.0	+8.9%	Cons. · Japanese GAAP
FYE Mar 2019	63.9	−0.1%	Cons. · Japanese GAAP
FYE Mar 2020	49.4	−22.7%	Cons. · Japanese GAAP
FYE Mar 2021	-22.9	−146.3%	Cons. · Japanese GAAP
FYE Mar 2022	3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	34.3	+770.3%	Cons. · Japanese GAAP
FYE Mar 2024	47.1	+37.2%	Cons. · Japanese GAAP
FYE Mar 2025	59.0	+25.2%	Cons. · Japanese GAAP
FYE Mar 2026	74.0	+25.5%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥4.9bn

CAGR · 10 yrs +5.6%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.9	+30.4%	Cons. · Japanese GAAP
FYE Mar 2019	3.8	−2.4%	Cons. · Japanese GAAP
FYE Mar 2020	2.9	−25.0%	Cons. · Japanese GAAP
FYE Mar 2021	6.2	+115.3%	Cons. · Japanese GAAP
FYE Mar 2022	7.6	+23.3%	Cons. · Japanese GAAP
FYE Mar 2023	4.2	−44.4%	Cons. · Japanese GAAP
FYE Mar 2024	4.8	+14.6%	Cons. · Japanese GAAP
FYE Mar 2025	4.4	−10.2%	Cons. · Japanese GAAP
FYE Mar 2026	4.9	+12.9%	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 ¥4.9bn

CAGR · 10 yrs +17.2%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	−29.7%	Cons. · Japanese GAAP
FYE Mar 2019	1.2	+40.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.7	+42.3%	Cons. · Japanese GAAP
FYE Mar 2021	2.6	+57.8%	Cons. · Japanese GAAP
FYE Mar 2022	2.3	−11.7%	Cons. · Japanese GAAP
FYE Mar 2023	2.8	+23.5%	Cons. · Japanese GAAP
FYE Mar 2024	3.0	+5.4%	Cons. · Japanese GAAP
FYE Mar 2025	3.8	+25.1%	Cons. · Japanese GAAP
FYE Mar 2026	4.9	+30.9%	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 ¥74bn

CAGR · 10 yrs +2.3%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	60.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	67.0	+10.7%	Cons. · Japanese GAAP
FYE Mar 2019	66.5	−0.8%	Cons. · Japanese GAAP
FYE Mar 2020	50.6	−23.9%	Cons. · Japanese GAAP
FYE Mar 2021	-19.3	−138.2%	Cons. · Japanese GAAP
FYE Mar 2022	9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	35.7	+286.5%	Cons. · Japanese GAAP
FYE Mar 2024	48.9	+37.1%	Cons. · Japanese GAAP
FYE Mar 2025	59.6	+21.7%	Cons. · Japanese GAAP
FYE Mar 2026	74.0	+24.3%	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 ¥7.8bn

CAGR · 10 yrs −14.1%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	30.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.7	−45.5%	Cons. · Japanese GAAP
FYE Mar 2019	18.6	+11.3%	Cons. · Japanese GAAP
FYE Mar 2020	34.5	+85.7%	Cons. · Japanese GAAP
FYE Mar 2021	30.3	−12.2%	Cons. · Japanese GAAP
FYE Mar 2022	9.6	−68.3%	Cons. · Japanese GAAP
FYE Mar 2023	18.1	+88.7%	Cons. · Japanese GAAP
FYE Mar 2024	18.4	+1.6%	Cons. · Japanese GAAP
FYE Mar 2025	11.0	−40.1%	Cons. · Japanese GAAP
FYE Mar 2026	7.8	−29.1%	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥45bn

CAGR · 10 yrs +0.2%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	44.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50.4	+12.6%	Cons. · Japanese GAAP
FYE Mar 2019	49.2	−2.3%	Cons. · Japanese GAAP
FYE Mar 2020	31.5	−36.0%	Cons. · Japanese GAAP
FYE Mar 2021	-19.0	−160.3%	Cons. · Japanese GAAP
FYE Mar 2022	13.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	31.2	+135.2%	Cons. · Japanese GAAP
FYE Mar 2024	38.4	+23.4%	Cons. · Japanese GAAP
FYE Mar 2025	43.7	+13.6%	Cons. · Japanese GAAP
FYE Mar 2026	45.5	+4.1%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 42.6%

Average · 10 yrs 36.4%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	38.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	38.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	38.0	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	36.8	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	23.4	−13.4pp	Cons. · Japanese GAAP
FYE Mar 2022	29.4	+6.0pp	Cons. · Japanese GAAP
FYE Mar 2023	36.0	+6.6pp	Cons. · Japanese GAAP
FYE Mar 2024	39.3	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2025	41.7	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2026	42.6	+0.9pp	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 14.8%

Average · 10 yrs 9.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	15.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	14.5	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	11.4	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2021	-7.8	−19.2pp	Cons. · Japanese GAAP
FYE Mar 2022	1.2	+9.0pp	Cons. · Japanese GAAP
FYE Mar 2023	9.0	+7.8pp	Cons. · Japanese GAAP
FYE Mar 2024	11.2	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2025	13.0	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	14.8	+1.8pp	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 14.8%

Average · 10 yrs 10.4%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	15.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	15.1	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2020	11.7	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2021	-6.6	−18.3pp	Cons. · Japanese GAAP
FYE Mar 2022	2.8	+9.4pp	Cons. · Japanese GAAP
FYE Mar 2023	9.3	+6.5pp	Cons. · Japanese GAAP
FYE Mar 2024	11.6	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2025	13.1	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	14.8	+1.7pp	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 9.1%

Average · 10 yrs 7.6%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	11.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.2	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	11.2	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	7.3	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2021	-6.5	−13.7pp	Cons. · Japanese GAAP
FYE Mar 2022	4.0	+10.5pp	Cons. · Japanese GAAP
FYE Mar 2023	8.1	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2024	9.1	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	9.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	9.1	−0.5pp	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 57.4%

Average · 10 yrs 63.6%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	61.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	61.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	62.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	63.2	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2021	76.6	+13.4pp	Cons. · Japanese GAAP
FYE Mar 2022	70.6	−6.0pp	Cons. · Japanese GAAP
FYE Mar 2023	64.0	−6.6pp	Cons. · Japanese GAAP
FYE Mar 2024	60.7	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2025	58.3	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2026	57.4	−0.9pp	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 27.8%

Average · 10 yrs 26.6%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	23.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	23.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	25.4	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	31.2	+5.8pp	Cons. · Japanese GAAP
FYE Mar 2022	28.2	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2023	27.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2024	28.1	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	28.7	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	27.8	−0.9pp	Cons. · Japanese GAAP

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

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

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥1.22tn

CAGR · 10 yrs +6.8%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	677	n/a	Cons. · Japanese GAAP
FYE Mar 2018	749	+10.7%	Cons. · Japanese GAAP
FYE Mar 2019	801	+7.0%	Cons. · Japanese GAAP
FYE Mar 2020	829	+3.4%	Cons. · Japanese GAAP
FYE Mar 2021	891	+7.6%	Cons. · Japanese GAAP
FYE Mar 2022	952	+6.8%	Cons. · Japanese GAAP
FYE Mar 2023	997	+4.7%	Cons. · Japanese GAAP
FYE Mar 2024	1,089	+9.3%	Cons. · Japanese GAAP
FYE Mar 2025	1,141	+4.7%	Cons. · Japanese GAAP
FYE Mar 2026	1,222	+7.2%	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 ¥494bn

CAGR · 10 yrs +4.1%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	343	n/a	Cons. · Japanese GAAP
FYE Mar 2018	377	+9.9%	Cons. · Japanese GAAP
FYE Mar 2019	415	+10.0%	Cons. · Japanese GAAP
FYE Mar 2020	413	−0.4%	Cons. · Japanese GAAP
FYE Mar 2021	390	−5.6%	Cons. · Japanese GAAP
FYE Mar 2022	388	−0.5%	Cons. · Japanese GAAP
FYE Mar 2023	406	+4.6%	Cons. · Japanese GAAP
FYE Mar 2024	441	+8.7%	Cons. · Japanese GAAP
FYE Mar 2025	457	+3.4%	Cons. · Japanese GAAP
FYE Mar 2026	494	+8.2%	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 ¥193bn

CAGR · 10 yrs +10.6%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	77.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	81.5	+5.2%	Cons. · Japanese GAAP
FYE Mar 2019	84.1	+3.2%	Cons. · Japanese GAAP
FYE Mar 2020	71.1	−15.4%	Cons. · Japanese GAAP
FYE Mar 2021	166	+133.8%	Cons. · Japanese GAAP
FYE Mar 2022	159	−4.1%	Cons. · Japanese GAAP
FYE Mar 2023	168	+5.5%	Cons. · Japanese GAAP
FYE Mar 2024	177	+5.1%	Cons. · Japanese GAAP
FYE Mar 2025	181	+2.5%	Cons. · Japanese GAAP
FYE Mar 2026	193	+6.3%	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 ¥0.2bn

CAGR · 10 yrs −12.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.5	+824.1%	Cons. · Japanese GAAP
FYE Mar 2019	9.0	+98.8%	Cons. · Japanese GAAP
FYE Mar 2020	10.6	+17.4%	Cons. · Japanese GAAP
FYE Mar 2021	6.9	−34.9%	Cons. · Japanese GAAP
FYE Mar 2022	6.1	−11.8%	Cons. · Japanese GAAP
FYE Mar 2023	2.0	−67.1%	Cons. · Japanese GAAP
FYE Mar 2024	4.4	+120.6%	Cons. · Japanese GAAP
FYE Mar 2025	2.5	−43.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.2	−93.9%	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 ¥192bn

CAGR · 10 yrs +10.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	77.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	77.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	75.1	−2.4%	Cons. · Japanese GAAP
FYE Mar 2020	60.6	−19.4%	Cons. · Japanese GAAP
FYE Mar 2021	159	+163.2%	Cons. · Japanese GAAP
FYE Mar 2022	153	−3.8%	Cons. · Japanese GAAP
FYE Mar 2023	166	+8.4%	Cons. · Japanese GAAP
FYE Mar 2024	172	+3.8%	Cons. · Japanese GAAP
FYE Mar 2025	179	+3.6%	Cons. · Japanese GAAP
FYE Mar 2026	192	+7.7%	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 ¥6.9bn

CAGR · 10 yrs +2.0%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.9	+1.4%	Cons. · Japanese GAAP
FYE Mar 2019	5.2	−11.7%	Cons. · Japanese GAAP
FYE Mar 2020	6.3	+20.4%	Cons. · Japanese GAAP
FYE Mar 2021	3.9	−37.3%	Cons. · Japanese GAAP
FYE Mar 2022	5.7	+45.6%	Cons. · Japanese GAAP
FYE Mar 2023	6.2	+8.2%	Cons. · Japanese GAAP
FYE Mar 2024	6.1	−1.0%	Cons. · Japanese GAAP
FYE Mar 2025	5.4	−11.7%	Cons. · Japanese GAAP
FYE Mar 2026	6.9	+27.7%	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 40.4%

Average · 10 yrs 44.9%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	50.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	51.8	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	49.9	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	43.8	−6.1pp	Cons. · Japanese GAAP
FYE Mar 2022	40.8	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2023	40.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	40.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	40.0	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	40.4	+0.4pp	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 39.0%

Average · 10 yrs 32.6%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	22.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.6	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	20.3	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	17.2	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2021	42.6	+25.4pp	Cons. · Japanese GAAP
FYE Mar 2022	41.0	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2023	41.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	40.1	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	39.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	39.0	−0.7pp	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 9.2%

Average · 10 yrs 8.0%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	13.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	11.9	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	7.6	−4.2pp	Cons. · Japanese GAAP
FYE Mar 2021	-4.9	−12.5pp	Cons. · Japanese GAAP
FYE Mar 2022	3.4	+8.3pp	Cons. · Japanese GAAP
FYE Mar 2023	7.7	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2024	8.7	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	9.6	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	9.2	−0.4pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 3.7%

Average · 10 yrs 3.7%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	6.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	6.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	3.8	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2021	-2.1	−5.9pp	Cons. · Japanese GAAP
FYE Mar 2022	1.4	+3.5pp	Cons. · Japanese GAAP
FYE Mar 2023	3.1	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	3.5	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	3.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	3.7	−0.1pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.41×

CAGR · 10 yrs −3.5%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.57	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.55	−2.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.55	−0.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.52	−5.0%	Cons. · Japanese GAAP
FYE Mar 2021	0.33	−36.9%	Cons. · Japanese GAAP
FYE Mar 2022	0.35	+5.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.38	+11.1%	Cons. · Japanese GAAP
FYE Mar 2024	0.39	+0.4%	Cons. · Japanese GAAP
FYE Mar 2025	0.40	+3.2%	Cons. · Japanese GAAP
FYE Mar 2026	0.41	+2.7%	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 ¥73bn

CAGR · 10 yrs +11.0%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	28.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	87.7	+206.8%	Cons. · Japanese GAAP
FYE Mar 2019	41.5	−52.7%	Cons. · Japanese GAAP
FYE Mar 2020	60.5	+45.8%	Cons. · Japanese GAAP
FYE Mar 2021	-10.4	−117.1%	Cons. · Japanese GAAP
FYE Mar 2022	56.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	62.1	+10.0%	Cons. · Japanese GAAP
FYE Mar 2024	89.0	+43.4%	Cons. · Japanese GAAP
FYE Mar 2025	96.7	+8.6%	Cons. · Japanese GAAP
FYE Mar 2026	72.9	−24.6%	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 -¥87bn

Average · 10 yrs -¥79bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-18.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-68.4	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-74.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-76.9	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-53.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-95.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-97.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-112	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-107	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-87.1	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 ¥13bn

Average · 10 yrs ¥20bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	3.4	−40.3%	Cons. · Japanese GAAP
FYE Mar 2021	106	+3042.5%	Cons. · Japanese GAAP
FYE Mar 2022	52.5	−50.4%	Cons. · Japanese GAAP
FYE Mar 2023	9.0	−82.9%	Cons. · Japanese GAAP
FYE Mar 2024	32.3	+259.8%	Cons. · Japanese GAAP
FYE Mar 2025	-6.9	−121.5%	Cons. · Japanese GAAP
FYE Mar 2026	12.5	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 ¥44bn

CAGR · 10 yrs −2.2%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	54.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	64.4	+18.6%	Cons. · Japanese GAAP
FYE Mar 2019	36.9	−42.7%	Cons. · Japanese GAAP
FYE Mar 2020	23.8	−35.4%	Cons. · Japanese GAAP
FYE Mar 2021	65.0	+173.0%	Cons. · Japanese GAAP
FYE Mar 2022	78.7	+21.1%	Cons. · Japanese GAAP
FYE Mar 2023	52.3	−33.6%	Cons. · Japanese GAAP
FYE Mar 2024	61.9	+18.4%	Cons. · Japanese GAAP
FYE Mar 2025	45.8	−26.0%	Cons. · Japanese GAAP
FYE Mar 2026	44.3	−3.4%	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 -¥14bn

Average · 10 yrs -¥21bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	10.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.3	+89.1%	Cons. · Japanese GAAP
FYE Mar 2019	-33.1	−271.7%	Cons. · Japanese GAAP
FYE Mar 2020	-16.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-64.3	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-39.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-35.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-22.9	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-10.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-14.3	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 14.6%

Average · 10 yrs 13.9%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	7.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.2	+13.7pp	Cons. · Japanese GAAP
FYE Mar 2019	9.4	−11.8pp	Cons. · Japanese GAAP
FYE Mar 2020	14.0	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2021	-3.5	−17.5pp	Cons. · Japanese GAAP
FYE Mar 2022	17.1	+20.7pp	Cons. · Japanese GAAP
FYE Mar 2023	16.2	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	21.2	+5.0pp	Cons. · Japanese GAAP
FYE Mar 2025	21.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	14.6	−6.7pp	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 -¥148bn

Average · 10 yrs -¥83bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-23.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-17.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-47.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-47.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-101	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-80.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-116	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-115	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-135	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-148	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 ¥580bn

Change · 9 yrs +¥34bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	546	n/a
FYE Mar 2018	529	n/a
FYE Mar 2019	581	n/a
FYE Mar 2020	486	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	394	n/a
FYE Mar 2023	465	n/a
FYE Mar 2024	558	n/a
FYE Mar 2025	575	n/a
FYE Mar 2026	580	n/a

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

Share price year-end close

FYE Mar 2026 3,751¥

Change · 9 yrs +339¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	3,412	n/a
FYE Mar 2018	3,308	n/a
FYE Mar 2019	3,631	n/a
FYE Mar 2020	3,091	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	2,505	n/a
FYE Mar 2023	2,956	n/a
FYE Mar 2024	3,548	n/a
FYE Mar 2025	3,654	n/a
FYE Mar 2026	3,751	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 154,649,000shares

Change · 10 yrs −5,351,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	160,000,000	Parent
FYE Mar 2018	160,000,000	Parent
FYE Mar 2019	160,000,000	Parent
FYE Mar 2020	157,301,000	Parent
FYE Mar 2021	157,301,000	Parent
FYE Mar 2022	157,301,000	Parent
FYE Mar 2023	157,301,000	Parent
FYE Mar 2024	157,301,000	Parent
FYE Mar 2025	157,301,000	Parent
FYE Mar 2026	154,649,000	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 295.39¥

Change · 10 yrs +15.69¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	279.70	Cons.
FYE Mar 2018	315.07	Cons.
FYE Mar 2019	307.75	Cons.
FYE Mar 2020	198.16	Cons.
FYE Mar 2021	-120.83	Cons.
FYE Mar 2022	84.34	Cons.
FYE Mar 2023	198.36	Cons.
FYE Mar 2024	244.68	Cons.
FYE Mar 2025	278.96	Cons.
FYE Mar 2026	295.39	Cons.

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

BPS book value per share

FYE Mar 2026 3,193.87¥

Change · 10 yrs +1,049.88¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	2,143.99	Cons. · Japanese GAAP
FYE Mar 2018	2,357.28	Cons. · Japanese GAAP
FYE Mar 2019	2,592.83	Cons. · Japanese GAAP
FYE Mar 2020	2,627.41	Cons. · Japanese GAAP
FYE Mar 2021	2,480.53	Cons. · Japanese GAAP
FYE Mar 2022	2,468.72	Cons. · Japanese GAAP
FYE Mar 2023	2,581.38	Cons. · Japanese GAAP
FYE Mar 2024	2,806.26	Cons. · Japanese GAAP
FYE Mar 2025	2,902.12	Cons. · Japanese GAAP
FYE Mar 2026	3,193.87	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 12.70×

Average · 9 yrs 15.00×

Fiscal year	PER ×	Basis
FYE Mar 2017	12.20	Cons.
FYE Mar 2018	10.50	Cons.
FYE Mar 2019	11.80	Cons.
FYE Mar 2020	15.60	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	29.70	Cons.
FYE Mar 2023	14.90	Cons.
FYE Mar 2024	14.50	Cons.
FYE Mar 2025	13.10	Cons.
FYE Mar 2026	12.70	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 · 9 yrs 1.27×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.59	Cons.
FYE Mar 2018	1.40	Cons.
FYE Mar 2019	1.40	Cons.
FYE Mar 2020	1.18	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	1.01	Cons.
FYE Mar 2023	1.14	Cons.
FYE Mar 2024	1.26	Cons.
FYE Mar 2025	1.25	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 15,365people

Change · 10 yrs −1,557 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	16,922	n/a	Cons.
FYE Mar 2018	17,297	+2.2%	Cons.
FYE Mar 2019	17,765	+2.7%	Cons.
FYE Mar 2020	17,450	−1.8%	Cons.
FYE Mar 2021	15,661	−10.3%	Cons.
FYE Mar 2022	14,872	−5.0%	Cons.
FYE Mar 2023	14,269	−4.1%	Cons.
FYE Mar 2024	14,677	+2.9%	Cons.
FYE Mar 2025	15,202	+3.6%	Cons.
FYE Mar 2026	15,365	+1.1%	Cons.

Definition: Everyone employed across the group
Formula: Consolidated headcount, from the employee section of the filing
Source: Securities report (XBRL)

Parent-company employees

FYE Mar 2026 6,483people

Change · 10 yrs −1,284 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	7,767	n/a	Parent
FYE Mar 2018	7,634	−1.7%	Parent
FYE Mar 2019	7,530	−1.4%	Parent
FYE Mar 2020	7,131	−5.3%	Parent
FYE Mar 2021	7,006	−1.8%	Parent
FYE Mar 2022	6,575	−6.2%	Parent
FYE Mar 2023	6,092	−7.3%	Parent
FYE Mar 2024	6,429	+5.5%	Parent
FYE Mar 2025	6,460	+0.5%	Parent
FYE Mar 2026	6,483	+0.4%	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 640万円

Change · 8 yrs +90万円

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	550	n/a	Parent
FYE Mar 2020	558	+1.4%	Parent
FYE Mar 2021	510	−8.7%	Parent
FYE Mar 2022	470	−7.9%	Parent
FYE Mar 2023	482	+2.6%	Parent
FYE Mar 2024	517	+7.2%	Parent
FYE Mar 2025	587	+13.6%	Parent
FYE Mar 2026	640	+9.1%	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 42.5years

Change · 8 yrs +2.0 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	40.5	n/a	Parent
FYE Mar 2020	38.3	−5.4%	Parent
FYE Mar 2021	39.4	+2.9%	Parent
FYE Mar 2022	39.9	+1.3%	Parent
FYE Mar 2023	40.5	+1.5%	Parent
FYE Mar 2024	41.3	+2.0%	Parent
FYE Mar 2025	42.7	+3.4%	Parent
FYE Mar 2026	42.5	−0.5%	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 · 8 yrs −2.9 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	16.3	n/a	Parent
FYE Mar 2020	13.8	−15.3%	Parent
FYE Mar 2021	14.2	+2.9%	Parent
FYE Mar 2022	14.2	−0.0%	Parent
FYE Mar 2023	14.5	+2.1%	Parent
FYE Mar 2024	14.2	−2.1%	Parent
FYE Mar 2025	12.8	−9.9%	Parent
FYE Mar 2026	13.4	+4.7%	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 4,900people

Change · 10 yrs +465 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	4,435	n/a	n/a
FYE Mar 2018	4,558	+2.8%	n/a
FYE Mar 2019	4,550	−0.2%	n/a
FYE Mar 2020	4,632	+1.8%	n/a
FYE Mar 2021	3,355	−27.6%	n/a
FYE Mar 2022	3,805	+13.4%	n/a
FYE Mar 2023	3,966	+4.2%	n/a
FYE Mar 2024	4,598	+15.9%	n/a
FYE Mar 2025	4,828	+5.0%	n/a
FYE Mar 2026	4,900	+1.5%	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 ¥32.6m

Change · 10 yrs +¥9.9m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	22.6	n/a	Cons.
FYE Mar 2018	23.9	+5.6%	Cons.
FYE Mar 2019	24.8	+3.7%	Cons.
FYE Mar 2020	24.8	−0.0%	Cons.
FYE Mar 2021	18.8	−24.3%	Cons.
FYE Mar 2022	22.2	+18.1%	Cons.
FYE Mar 2023	26.9	+21.2%	Cons.
FYE Mar 2024	28.6	+6.6%	Cons.
FYE Mar 2025	29.9	+4.4%	Cons.
FYE Mar 2026	32.6	+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 ¥4.8m

Change · 10 yrs +¥1.3m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons.
FYE Mar 2018	3.7	+6.5%	Cons.
FYE Mar 2019	3.6	−2.8%	Cons.
FYE Mar 2020	2.8	−21.3%	Cons.
FYE Mar 2021	-1.5	−151.6%	Cons.
FYE Mar 2022	0.3	n/a	Cons.
FYE Mar 2023	2.4	+807.0%	Cons.
FYE Mar 2024	3.2	+33.4%	Cons.
FYE Mar 2025	3.9	+20.9%	Cons.
FYE Mar 2026	4.8	+24.2%	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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