Financials

Japan Airlines: FYE Mar 2026 and ten years of results (51 metrics)

FYE Mar 2026 · Revenue¥2.01tnYoY +9.1%

FYE Mar 2026 · Operating profit¥207bnYoY +23.0%

FYE Mar 2026 · Net profit¥138bnYoY +28.6%

FYE Mar 2026 · Equity ratio38.9%YoY +5.5pp

FYE Mar 2026 · Group employees39,076YoY +643

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.29tn	n/a	¥170bn	n/a	13.2%	¥164bn	Ueki Yoshiharu	—
FYE Mar 2018Consolidated	¥1.38tn	+7.3%	¥175bn	+2.5%	12.6%	¥135bn	Ueki Yoshiharu	—
FYE Mar 2019Consolidated	¥1.49tn	+7.5%	¥176bn	+0.9%	11.8%	¥151bn	Ueki Yoshiharu	Establishes ZIPAIR Tokyo, a long-haul LCC
FYE Mar 2020Consolidated	¥1.39tn	−6.8%	¥86bn	−51.1%	6.2%	¥44bn	Akasaka Yuji	—
FYE Mar 2021Consolidated	¥481bn	−65.3%	-¥390bn	−553.4%	-81.1%	-¥302bn	Akasaka Yuji	Pandemic sends revenue down 66% year on year
FYE Mar 2022Consolidated	¥683bn	+41.9%	-¥235bn	n/a	-34.4%	-¥178bn	Akasaka Yuji	—
FYE Mar 2023Consolidated	¥1.38tn	+101.5%	¥65bn	n/a	4.7%	¥34bn	Akasaka Yuji	—
FYE Mar 2024Consolidated	¥1.65tn	+20.1%	¥141bn	+116.6%	8.5%	¥96bn	Akasaka Yuji	—
FYE Mar 2025Consolidated	¥1.84tn	+11.6%	¥169bn	+19.6%	9.1%	¥107bn	Akasaka Yuji	Mitsuko Tottori becomes president — JAL’s first woman leader
FYE Mar 2026Consolidated	¥2.01tn	+9.1%	¥207bn	+23.0%	10.3%	¥138bn	Tottori Mitsuko	Record revenue, above the pre-COVID peak

How it compares

ANA Holdings¥2.54tnFY2025Operating margin 8.6%

Japan Airlines¥2.01tnFY2025Operating margin 10.3%

Skymark Airlines Inc.¥110bnFY2025Operating margin 1.6%

Income statement Revenue, costs, each level of profit and the margins they leave

Where the revenue goes

¥ bn

Cost of sales SG&A Other operating costs Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥2.01tn

CAGR · 10 yrs +5.1%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,289	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,383	+7.3%	Cons. · Japanese GAAP
FYE Mar 2019	1,487	+7.5%	Cons. · Japanese GAAP
FYE Mar 2020	1,386	−6.8%	Cons. · Japanese GAAP
FYE Mar 2021	481	moved to IFRS	Cons. · IFRS
FYE Mar 2022	683	+41.9%	Cons. · IFRS
FYE Mar 2023	1,376	+101.5%	Cons. · IFRS
FYE Mar 2024	1,652	+20.1%	Cons. · IFRS
FYE Mar 2025	1,844	+11.6%	Cons. · IFRS
FYE Mar 2026	2,013	+9.1%	Cons. · IFRS

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 n/a

CAGR · 3 yrs +7.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	927	n/a	Cons. · Japanese GAAP
FYE Mar 2018	994	+7.2%	Cons. · Japanese GAAP
FYE Mar 2019	1,075	+8.2%	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 n/a

CAGR · 3 yrs +6.7%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	362	n/a	Cons. · Japanese GAAP
FYE Mar 2018	390	+7.6%	Cons. · Japanese GAAP
FYE Mar 2019	412	+5.8%	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 n/a

CAGR · 4 yrs +6.9%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	192	n/a	Cons. · Japanese GAAP
FYE Mar 2018	215	+12.2%	Cons. · Japanese GAAP
FYE Mar 2019	236	+9.7%	Cons. · Japanese GAAP
FYE Mar 2020	234	−0.6%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 ¥207bn

CAGR · 10 yrs +2.2%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	170	n/a	Cons. · Japanese GAAP
FYE Mar 2018	175	+2.5%	Cons. · Japanese GAAP
FYE Mar 2019	176	+0.9%	Cons. · Japanese GAAP
FYE Mar 2020	86.1	−51.1%	Cons. · Japanese GAAP
FYE Mar 2021	-390	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-235	n/a	Cons. · IFRS
FYE Mar 2023	65.1	n/a	Cons. · IFRS
FYE Mar 2024	141	+116.6%	Cons. · IFRS
FYE Mar 2025	169	+19.6%	Cons. · IFRS
FYE Mar 2026	207	+23.0%	Cons. · IFRS

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

Non-operating income

FYE Mar 2026 n/a

CAGR · 4 yrs +4.2%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	8.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.8	−1.7%	Cons. · Japanese GAAP
FYE Mar 2019	9.1	+4.1%	Cons. · Japanese GAAP
FYE Mar 2020	10.1	+10.5%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 n/a

CAGR · 4 yrs −16.9%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	14.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.2	+41.5%	Cons. · Japanese GAAP
FYE Mar 2019	19.9	−1.1%	Cons. · Japanese GAAP
FYE Mar 2020	8.2	−59.1%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 n/a

CAGR · 4 yrs −14.7%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	165	n/a	Cons. · Japanese GAAP
FYE Mar 2018	163	−1.1%	Cons. · Japanese GAAP
FYE Mar 2019	165	+1.3%	Cons. · Japanese GAAP
FYE Mar 2020	103	−38.0%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 n/a

CAGR · 4 yrs −24.8%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.1	−5.7%	Cons. · Japanese GAAP
FYE Mar 2019	2.8	−60.6%	Cons. · Japanese GAAP
FYE Mar 2020	3.2	+14.5%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 ¥138bn

CAGR · 10 yrs −1.9%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	164	n/a	Cons. · Japanese GAAP
FYE Mar 2018	135	−17.5%	Cons. · Japanese GAAP
FYE Mar 2019	151	+11.4%	Cons. · Japanese GAAP
FYE Mar 2020	43.6	−71.1%	Cons. · Japanese GAAP
FYE Mar 2021	-302	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-178	n/a	Cons. · IFRS
FYE Mar 2023	34.4	n/a	Cons. · IFRS
FYE Mar 2024	95.5	+177.5%	Cons. · IFRS
FYE Mar 2025	107	+12.0%	Cons. · IFRS
FYE Mar 2026	138	+28.6%	Cons. · IFRS

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

Gross margin

FYE Mar 2026 n/a

Average · 3 yrs 28.0%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	28.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	28.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	27.7	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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

Operating margin

FYE Mar 2026 10.3%

Average · 10 yrs -3.9%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	13.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.6	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	11.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2020	6.2	−5.6pp	Cons. · Japanese GAAP
FYE Mar 2021	-81.1	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-34.4	+46.7pp	Cons. · IFRS
FYE Mar 2023	4.7	+39.1pp	Cons. · IFRS
FYE Mar 2024	8.5	+3.8pp	Cons. · IFRS
FYE Mar 2025	9.1	+0.6pp	Cons. · IFRS
FYE Mar 2026	10.3	+1.2pp	Cons. · IFRS

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

Ordinary margin

FYE Mar 2026 n/a

Average · 4 yrs 10.8%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	12.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.8	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	11.1	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	7.4	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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

Net margin

FYE Mar 2026 6.8%

Average · 10 yrs -3.2%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	12.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.8	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2019	10.1	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	3.1	−7.0pp	Cons. · Japanese GAAP
FYE Mar 2021	-62.8	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-26.0	+36.7pp	Cons. · IFRS
FYE Mar 2023	2.5	+28.5pp	Cons. · IFRS
FYE Mar 2024	5.8	+3.3pp	Cons. · IFRS
FYE Mar 2025	5.8	−0.0pp	Cons. · IFRS
FYE Mar 2026	6.8	+1.0pp	Cons. · IFRS

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

Cost-of-sales ratio

FYE Mar 2026 n/a

Average · 3 yrs 72.0%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	71.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	71.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	72.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 n/a

Average · 4 yrs 15.8%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	14.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	15.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	16.9	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 ¥3.20tn

CAGR · 10 yrs +7.1%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	1,729	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,854	+7.2%	Cons. · Japanese GAAP
FYE Mar 2019	2,030	+9.5%	Cons. · Japanese GAAP
FYE Mar 2020	1,880	−7.4%	Cons. · Japanese GAAP
FYE Mar 2021	1,953	moved to IFRS	Cons. · IFRS
FYE Mar 2022	2,376	+21.6%	Cons. · IFRS
FYE Mar 2023	2,521	+6.1%	Cons. · IFRS
FYE Mar 2024	2,649	+5.1%	Cons. · IFRS
FYE Mar 2025	2,795	+5.5%	Cons. · IFRS
FYE Mar 2026	3,199	+14.4%	Cons. · IFRS

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

Equity net assets, shareholders' equity

FYE Mar 2026 ¥1.24tn

CAGR · 10 yrs +2.8%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	972	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,060	+9.1%	Cons. · Japanese GAAP
FYE Mar 2019	1,165	+9.9%	Cons. · Japanese GAAP
FYE Mar 2020	1,001	−14.1%	Cons. · Japanese GAAP
FYE Mar 2021	929	moved to IFRS	Cons. · IFRS
FYE Mar 2022	753	−18.9%	Cons. · IFRS
FYE Mar 2023	776	+2.9%	Cons. · IFRS
FYE Mar 2024	872	+12.4%	Cons. · IFRS
FYE Mar 2025	933	+7.1%	Cons. · IFRS
FYE Mar 2026	1,245	+33.3%	Cons. · IFRS

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 ¥876bn

CAGR · 10 yrs +32.2%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	71.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	83.8	+17.8%	Cons. · Japanese GAAP
FYE Mar 2019	73.6	−12.2%	Cons. · Japanese GAAP
FYE Mar 2020	277	+277.0%	Cons. · Japanese GAAP
FYE Mar 2021	515	moved to IFRS	Cons. · IFRS
FYE Mar 2022	928	+80.2%	Cons. · IFRS
FYE Mar 2023	926	−0.3%	Cons. · IFRS
FYE Mar 2024	887	−4.1%	Cons. · IFRS
FYE Mar 2025	896	+1.0%	Cons. · IFRS
FYE Mar 2026	876	−2.2%	Cons. · IFRS

Definition: Borrowings the company pays interest on
Formula: Loans + bonds + lease obligations
Source: Securities report (XBRL)

Short-term borrowings

FYE Mar 2026 ¥150bn

CAGR · 10 yrs +44.8%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.2	−41.4%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−97.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.1	+33.8%	Cons. · Japanese GAAP
FYE Mar 2021	69.6	moved to IFRS	Cons. · IFRS
FYE Mar 2022	86.8	+24.7%	Cons. · IFRS
FYE Mar 2023	86.8	−0.0%	Cons. · IFRS
FYE Mar 2024	112	+29.0%	Cons. · IFRS
FYE Mar 2025	107	−4.5%	Cons. · IFRS
FYE Mar 2026	150	+40.2%	Cons. · IFRS

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 ¥726bn

CAGR · 10 yrs +28.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	78.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	95.3	+20.8%	Cons. · Japanese GAAP
FYE Mar 2019	86.8	−8.9%	Cons. · Japanese GAAP
FYE Mar 2020	98.3	+13.3%	Cons. · Japanese GAAP
FYE Mar 2021	446	moved to IFRS	Cons. · IFRS
FYE Mar 2022	842	+88.9%	Cons. · IFRS
FYE Mar 2023	842	−0.0%	Cons. · IFRS
FYE Mar 2024	814	−3.3%	Cons. · IFRS
FYE Mar 2025	780	−4.1%	Cons. · IFRS
FYE Mar 2026	726	−7.0%	Cons. · IFRS

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

Bonds

FYE Mar 2026 n/a

CAGR · 4 yrs +65.1%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	20.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	50.0	+150.0%	Cons. · Japanese GAAP
FYE Mar 2020	90.0	+80.0%	Cons. · Japanese GAAP
FYE Mar 2021	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2022	n/a	n/a	Cons. · IFRS
FYE Mar 2023	n/a	n/a	Cons. · IFRS
FYE Mar 2024	n/a	n/a	Cons. · IFRS
FYE Mar 2025	n/a	n/a	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

Definition: Bonds outstanding
Formula: Bonds line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥108bn

CAGR · 10 yrs +1.3%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	95.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	95.7	−0.2%	Cons. · Japanese GAAP
FYE Mar 2019	92.3	−3.6%	Cons. · Japanese GAAP
FYE Mar 2020	95.8	+3.8%	Cons. · Japanese GAAP
FYE Mar 2021	89.7	moved to IFRS	Cons. · IFRS
FYE Mar 2022	87.6	−2.3%	Cons. · IFRS
FYE Mar 2023	83.3	−4.9%	Cons. · IFRS
FYE Mar 2024	87.2	+4.7%	Cons. · IFRS
FYE Mar 2025	94.3	+8.2%	Cons. · IFRS
FYE Mar 2026	108	+14.2%	Cons. · IFRS

Definition: Assets with no physical form
Formula: Intangible assets line of the balance sheet
Source: Securities report (XBRL)

Goodwill

FYE Mar 2026 ¥4.0bn

Average · 6 yrs ¥3.1bn

Fiscal year	Goodwill ¥ 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	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	0.0	moved to IFRS	Cons. · IFRS
FYE Mar 2022	3.2	n/a	Cons. · IFRS
FYE Mar 2023	3.7	+13.4%	Cons. · IFRS
FYE Mar 2024	4.0	+8.6%	Cons. · IFRS
FYE Mar 2025	4.0	−0.0%	Cons. · IFRS
FYE Mar 2026	4.0	−0.0%	Cons. · IFRS

Definition: What an acquisition cost above the net assets it brought
Formula: Goodwill line of the balance sheet
Source: Securities report (XBRL)

Equity ratio

FYE Mar 2026 38.9%

Average · 10 yrs 43.9%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	56.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	57.2	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	57.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	53.3	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2021	47.6	moved to IFRS	Cons. · IFRS
FYE Mar 2022	31.7	−15.8pp	Cons. · IFRS
FYE Mar 2023	30.8	−0.9pp	Cons. · IFRS
FYE Mar 2024	32.9	+2.1pp	Cons. · IFRS
FYE Mar 2025	33.4	+0.5pp	Cons. · IFRS
FYE Mar 2026	38.9	+5.5pp	Cons. · IFRS

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 70.4%

Average · 10 yrs 61.5%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	6.3	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2020	27.7	+21.4pp	Cons. · Japanese GAAP
FYE Mar 2021	55.5	moved to IFRS	Cons. · IFRS
FYE Mar 2022	123.2	+67.8pp	Cons. · IFRS
FYE Mar 2023	119.3	−3.9pp	Cons. · IFRS
FYE Mar 2024	101.8	−17.5pp	Cons. · IFRS
FYE Mar 2025	96.0	−5.8pp	Cons. · IFRS
FYE Mar 2026	70.4	−25.6pp	Cons. · IFRS

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 11.1%

Average · 10 yrs 2.9%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	16.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.8	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2019	12.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	4.4	−8.6pp	Cons. · Japanese GAAP
FYE Mar 2021	-32.5	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-23.6	+8.9pp	Cons. · IFRS
FYE Mar 2023	4.4	+28.0pp	Cons. · IFRS
FYE Mar 2024	11.0	+6.5pp	Cons. · IFRS
FYE Mar 2025	11.5	+0.5pp	Cons. · IFRS
FYE Mar 2026	11.1	−0.4pp	Cons. · IFRS

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

ROA return on assets

FYE Mar 2026 4.3%

Average · 10 yrs 1.7%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	9.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.3	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2019	7.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	2.3	−5.1pp	Cons. · Japanese GAAP
FYE Mar 2021	-15.5	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-7.5	+8.0pp	Cons. · IFRS
FYE Mar 2023	1.4	+8.8pp	Cons. · IFRS
FYE Mar 2024	3.6	+2.2pp	Cons. · IFRS
FYE Mar 2025	3.8	+0.2pp	Cons. · IFRS
FYE Mar 2026	4.3	+0.5pp	Cons. · IFRS

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

Asset turnover

FYE Mar 2026 0.63×

CAGR · 10 yrs −1.9%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.75	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.75	+0.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.73	−1.8%	Cons. · Japanese GAAP
FYE Mar 2020	0.74	+0.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.25	moved to IFRS	Cons. · IFRS
FYE Mar 2022	0.29	+16.7%	Cons. · IFRS
FYE Mar 2023	0.55	+89.9%	Cons. · IFRS
FYE Mar 2024	0.62	+14.3%	Cons. · IFRS
FYE Mar 2025	0.66	+5.8%	Cons. · IFRS
FYE Mar 2026	0.63	−4.6%	Cons. · IFRS

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 ¥395bn

CAGR · 10 yrs +5.1%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	253	n/a	Cons. · Japanese GAAP
FYE Mar 2018	282	+11.2%	Cons. · Japanese GAAP
FYE Mar 2019	297	+5.4%	Cons. · Japanese GAAP
FYE Mar 2020	60.0	−79.8%	Cons. · Japanese GAAP
FYE Mar 2021	-245	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-104	n/a	Cons. · IFRS
FYE Mar 2023	293	n/a	Cons. · IFRS
FYE Mar 2024	364	+24.3%	Cons. · IFRS
FYE Mar 2025	382	+4.8%	Cons. · IFRS
FYE Mar 2026	395	+3.5%	Cons. · IFRS

Definition: Cash the business itself generated
Formula: Cash flow from operating activities
Source: Securities report (XBRL)

Investing cash flow

FYE Mar 2026 -¥183bn

Average · 10 yrs -¥174bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-168	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-167	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-186	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-222	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-46.7	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-174	n/a	Cons. · IFRS
FYE Mar 2023	-113	n/a	Cons. · IFRS
FYE Mar 2024	-195	n/a	Cons. · IFRS
FYE Mar 2025	-281	n/a	Cons. · IFRS
FYE Mar 2026	-183	n/a	Cons. · IFRS

Definition: Cash spent on, or released by, investment
Formula: Cash flow from investing activities
Source: Securities report (XBRL)

Financing cash flow

FYE Mar 2026 ¥45bn

Average · 10 yrs ¥39bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-53.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-55.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-37.0	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-30.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	369	moved to IFRS	Cons. · IFRS
FYE Mar 2022	359	−2.8%	Cons. · IFRS
FYE Mar 2023	-38.5	−110.7%	Cons. · IFRS
FYE Mar 2024	-105	n/a	Cons. · IFRS
FYE Mar 2025	-64.9	n/a	Cons. · IFRS
FYE Mar 2026	44.6	n/a	Cons. · IFRS

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 ¥1.01tn

CAGR · 10 yrs +26.2%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	124	n/a	Cons. · Japanese GAAP
FYE Mar 2018	183	+47.2%	Cons. · Japanese GAAP
FYE Mar 2019	522	+185.5%	Cons. · Japanese GAAP
FYE Mar 2020	329	−37.0%	Cons. · Japanese GAAP
FYE Mar 2021	408	moved to IFRS	Cons. · IFRS
FYE Mar 2022	494	+21.0%	Cons. · IFRS
FYE Mar 2023	639	+29.3%	Cons. · IFRS
FYE Mar 2024	714	+11.7%	Cons. · IFRS
FYE Mar 2025	749	+4.9%	Cons. · IFRS
FYE Mar 2026	1,010	+34.9%	Cons. · IFRS

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 ¥212bn

CAGR · 10 yrs +10.7%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	85.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	115	+35.1%	Cons. · Japanese GAAP
FYE Mar 2019	110	−4.0%	Cons. · Japanese GAAP
FYE Mar 2020	-162	−246.4%	Cons. · Japanese GAAP
FYE Mar 2021	-291	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-277	n/a	Cons. · IFRS
FYE Mar 2023	180	n/a	Cons. · IFRS
FYE Mar 2024	169	−6.3%	Cons. · IFRS
FYE Mar 2025	100	−40.5%	Cons. · IFRS
FYE Mar 2026	212	+110.9%	Cons. · IFRS

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 19.6%

Average · 10 yrs 8.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	19.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.4	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	20.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	4.3	−15.6pp	Cons. · Japanese GAAP
FYE Mar 2021	-50.8	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-15.2	+35.7pp	Cons. · IFRS
FYE Mar 2023	21.3	+36.5pp	Cons. · IFRS
FYE Mar 2024	22.0	+0.7pp	Cons. · IFRS
FYE Mar 2025	20.7	−1.3pp	Cons. · IFRS
FYE Mar 2026	19.6	−1.1pp	Cons. · IFRS

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

Net cash

FYE Mar 2026 ¥134bn

CAGR · 10 yrs +10.9%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	53.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	99.0	+86.5%	Cons. · Japanese GAAP
FYE Mar 2019	448	+352.9%	Cons. · Japanese GAAP
FYE Mar 2020	51.7	−88.5%	Cons. · Japanese GAAP
FYE Mar 2021	-107	moved to IFRS	Cons. · IFRS
FYE Mar 2022	-434	n/a	Cons. · IFRS
FYE Mar 2023	-286	n/a	Cons. · IFRS
FYE Mar 2024	-173	n/a	Cons. · IFRS
FYE Mar 2025	-147	n/a	Cons. · IFRS
FYE Mar 2026	134	n/a	Cons. · IFRS

Definition: Cash on hand once the borrowings are paid off
Formula: Cash and equivalents − interest-bearing debt
Source: Securities report (XBRL)

Shares and share price Shares outstanding, price, market capitalisation and the valuation multiples

Market capitalisation

FYE Mar 2026 ¥1.11tn

Change · 8 yrs −¥130bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	1,243	n/a
FYE Mar 2018	1,518	n/a
FYE Mar 2019	1,357	n/a
FYE Mar 2020	670	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	n/a	n/a
FYE Mar 2023	1,129	n/a
FYE Mar 2024	1,271	n/a
FYE Mar 2025	1,114	n/a
FYE Mar 2026	1,114	n/a

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

Share price year-end close

FYE Mar 2026 2,548¥

Change · 8 yrs −968¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	3,516	n/a
FYE Mar 2018	4,292	n/a
FYE Mar 2019	3,889	n/a
FYE Mar 2020	1,989	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	n/a	n/a
FYE Mar 2023	2,584	n/a
FYE Mar 2024	2,908	n/a
FYE Mar 2025	2,549	n/a
FYE Mar 2026	2,548	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 437,143,000shares

Change · 10 yrs +83,428,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	353,715,000	Parent
FYE Mar 2018	353,715,000	Parent
FYE Mar 2019	349,028,000	Parent
FYE Mar 2020	337,143,000	Parent
FYE Mar 2021	437,143,000	Parent
FYE Mar 2022	437,143,000	Parent
FYE Mar 2023	437,143,000	Parent
FYE Mar 2024	437,143,000	Parent
FYE Mar 2025	437,143,000	Parent
FYE Mar 2026	437,143,000	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 306.96¥

Change · 10 yrs −149.60¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	456.56	Cons.
FYE Mar 2018	383.23	Cons.
FYE Mar 2019	432.10	Cons.
FYE Mar 2020	140.04	Cons.
FYE Mar 2021	-764.99	Cons.
FYE Mar 2022	-406.29	Cons.
FYE Mar 2023	78.77	Cons.
FYE Mar 2024	218.61	Cons.
FYE Mar 2025	245.09	Cons.
FYE Mar 2026	306.96	Cons.

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

BPS book value per share

FYE Mar 2026 2,846.92¥

Change · 10 yrs +98.77¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	2,748.16	Cons. · Japanese GAAP
FYE Mar 2018	2,997.71	Cons. · Japanese GAAP
FYE Mar 2019	3,338.23	Cons. · Japanese GAAP
FYE Mar 2020	2,969.69	Cons. · Japanese GAAP
FYE Mar 2021	2,125.16	Cons. · IFRS
FYE Mar 2022	1,723.48	Cons. · IFRS
FYE Mar 2023	1,774.29	Cons. · IFRS
FYE Mar 2024	1,993.74	Cons. · IFRS
FYE Mar 2025	2,135.32	Cons. · IFRS
FYE Mar 2026	2,846.92	Cons. · IFRS

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

PER price-to-earnings ratio

FYE Mar 2026 8.30×

Average · 8 yrs 13.36×

Fiscal year	PER ×	Basis
FYE Mar 2017	7.70	Cons.
FYE Mar 2018	11.20	Cons.
FYE Mar 2019	9.00	Cons.
FYE Mar 2020	14.20	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	n/a	Cons.
FYE Mar 2023	32.80	Cons.
FYE Mar 2024	13.30	Cons.
FYE Mar 2025	10.40	Cons.
FYE Mar 2026	8.30	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 0.98×

Average · 8 yrs 1.19×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.28	Cons.
FYE Mar 2018	1.42	Cons.
FYE Mar 2019	1.28	Cons.
FYE Mar 2020	0.66	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	n/a	Cons.
FYE Mar 2023	1.38	Cons.
FYE Mar 2024	1.40	Cons.
FYE Mar 2025	1.14	Cons.
FYE Mar 2026	0.98	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 39,076people

Change · 10 yrs +7,029 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	32,047	n/a	Cons.
FYE Mar 2018	33,038	+3.1%	Cons.
FYE Mar 2019	34,003	+2.9%	Cons.
FYE Mar 2020	35,653	+4.9%	Cons.
FYE Mar 2021	36,060	+1.1%	Cons.
FYE Mar 2022	35,423	−1.8%	Cons.
FYE Mar 2023	36,039	+1.7%	Cons.
FYE Mar 2024	36,500	+1.3%	Cons.
FYE Mar 2025	38,433	+5.3%	Cons.
FYE Mar 2026	39,076	+1.7%	Cons.

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

Parent-company employees

FYE Mar 2026 14,627people

Change · 10 yrs +3,133 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	11,494	n/a	Parent
FYE Mar 2018	12,127	+5.5%	Parent
FYE Mar 2019	12,750	+5.1%	Parent
FYE Mar 2020	13,541	+6.2%	Parent
FYE Mar 2021	13,787	+1.8%	Parent
FYE Mar 2022	12,726	−7.7%	Parent
FYE Mar 2023	12,969	+1.9%	Parent
FYE Mar 2024	13,791	+6.3%	Parent
FYE Mar 2025	14,431	+4.6%	Parent
FYE Mar 2026	14,627	+1.4%	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 ¥10.1m

Change · 10 yrs +¥1.5m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	8.6	n/a	Parent
FYE Mar 2018	8.7	+0.8%	Parent
FYE Mar 2019	8.3	−4.5%	Parent
FYE Mar 2020	8.4	+1.4%	Parent
FYE Mar 2021	6.8	−19.2%	Parent
FYE Mar 2022	7.0	+3.6%	Parent
FYE Mar 2023	8.5	+20.6%	Parent
FYE Mar 2024	9.2	+8.7%	Parent
FYE Mar 2025	9.5	+3.0%	Parent
FYE Mar 2026	10.1	+6.5%	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 +0.3 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	39.9	n/a	Parent
FYE Mar 2020	39.3	−1.5%	Parent
FYE Mar 2021	39.2	−0.3%	Parent
FYE Mar 2022	40.3	+2.8%	Parent
FYE Mar 2023	40.8	+1.2%	Parent
FYE Mar 2024	40.7	−0.2%	Parent
FYE Mar 2025	39.7	−2.5%	Parent
FYE Mar 2026	40.2	+1.3%	Parent

Definition: Average age of the parent company's employees
Formula: Average age, from the employee section of the filing
Source: Securities report (XBRL)

Average length of service

FYE Mar 2026 14.9years

Change · 10 yrs +0.7 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	14.2	n/a	Parent
FYE Mar 2018	15.2	+7.0%	Parent
FYE Mar 2019	15.0	−1.3%	Parent
FYE Mar 2020	14.5	−3.3%	Parent
FYE Mar 2021	14.5	−0.0%	Parent
FYE Mar 2022	15.5	+6.9%	Parent
FYE Mar 2023	15.9	+2.6%	Parent
FYE Mar 2024	15.4	−3.1%	Parent
FYE Mar 2025	15.2	−1.3%	Parent
FYE Mar 2026	14.9	−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)

Temporary employees

FYE Mar 2026 2,657people

Change · 10 yrs +1,740 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	917	n/a	n/a
FYE Mar 2018	968	+5.6%	n/a
FYE Mar 2019	999	+3.2%	n/a
FYE Mar 2020	1,144	+14.5%	n/a
FYE Mar 2021	815	−28.8%	n/a
FYE Mar 2022	663	−18.7%	n/a
FYE Mar 2023	856	+29.1%	n/a
FYE Mar 2024	2,525	+195.0%	n/a
FYE Mar 2025	2,795	+10.7%	n/a
FYE Mar 2026	2,657	−4.9%	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 ¥51.5m

Change · 10 yrs +¥11.3m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	40.2	n/a	Cons.
FYE Mar 2018	41.9	+4.1%	Cons.
FYE Mar 2019	43.7	+4.5%	Cons.
FYE Mar 2020	38.9	−11.1%	Cons.
FYE Mar 2021	13.3	n/a	Cons.
FYE Mar 2022	19.3	+44.4%	Cons.
FYE Mar 2023	38.2	+98.0%	Cons.
FYE Mar 2024	45.3	+18.6%	Cons.
FYE Mar 2025	48.0	+6.0%	Cons.
FYE Mar 2026	51.5	+7.3%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥5.3m

Change · 10 yrs −¥0.0m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons.
FYE Mar 2018	5.3	−0.6%	Cons.
FYE Mar 2019	5.2	−2.0%	Cons.
FYE Mar 2020	2.4	−53.4%	Cons.
FYE Mar 2021	-10.8	n/a	Cons.
FYE Mar 2022	-6.6	n/a	Cons.
FYE Mar 2023	1.8	n/a	Cons.
FYE Mar 2024	3.9	+113.9%	Cons.
FYE Mar 2025	4.4	+13.6%	Cons.
FYE Mar 2026	5.3	+21.0%	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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