Financials

ANA Holdings: FYE Mar 2026 and ten years of results (52 metrics)

FYE Mar 2026 · Revenue¥2.54tnYoY +12.3%

FYE Mar 2026 · Operating profit¥217bnYoY +10.6%

FYE Mar 2026 · Net profit¥169bnYoY +10.5%

FYE Mar 2026 · Equity ratio37.7%YoY +6.5pp

FYE Mar 2026 · Group employees47,826YoY +3,807

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.77tn	n/a	¥146bn	n/a	8.2%	¥99bn	Katanozaka Shinya	Three Airbus A380s announced for Hawaii routes
FYE Mar 2018Consolidated	¥1.97tn	+11.7%	¥165bn	+13.0%	8.3%	¥144bn	Katanozaka Shinya	Peach Aviation consolidated for ¥30.4bn
FYE Mar 2019Consolidated	¥2.06tn	+4.4%	¥165bn	+0.3%	8.0%	¥111bn	Katanozaka Shinya	Integration of Peach and Vanilla Air announced
FYE Mar 2020Consolidated	¥1.97tn	−4.1%	¥61bn	−63.2%	3.1%	¥28bn	Katanozaka Shinya	A380 introduced; low-cost flying unified under Peach; revenue passes ¥2tn
FYE Mar 2021Consolidated	¥729bn	−63.1%	-¥465bn	−864.4%	-63.8%	-¥405bn	Katanozaka Shinya	¥400bn subordinated loans; share offering of up to ¥332.1bn
FYE Mar 2022Consolidated	¥1.02tn	+40.0%	-¥173bn	n/a	-17.0%	-¥144bn	Katanozaka Shinya	Record operating loss of ¥464.8bn; fleet cut from 309 to 276
FYE Mar 2023Consolidated	¥1.71tn	+67.3%	¥120bn	n/a	7.0%	¥89bn	Katanozaka Shinya	<a class="en-history_person" href="/tse/9202/executives/ceo/shibata-koji/" hreflang="ja">Shibata Koji</a> becomes president
FYE Mar 2024Consolidated	¥2.06tn	+20.4%	¥208bn	+73.2%	10.1%	¥157bn	Shibata Koji	Returns to profit and restores the dividend; agrees to buy back NCA
FYE Mar 2025Consolidated	¥2.26tn	+10.0%	¥197bn	−5.4%	8.7%	¥153bn	Shibata Koji	AirJapan launched as a third brand; operating profit passes ¥200bn
FYE Mar 2026Consolidated	¥2.54tn	+12.3%	¥217bn	+10.6%	8.6%	¥169bn	Shibata Koji	Nippon Cargo Airlines becomes a wholly owned subsidiary

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 Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥2.54tn

CAGR · 10 yrs +4.1%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,765	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,972	+11.7%	Cons. · Japanese GAAP
FYE Mar 2019	2,058	+4.4%	Cons. · Japanese GAAP
FYE Mar 2020	1,974	−4.1%	Cons. · Japanese GAAP
FYE Mar 2021	729	−63.1%	Cons. · Japanese GAAP
FYE Mar 2022	1,020	+40.0%	Cons. · Japanese GAAP
FYE Mar 2023	1,707	+67.3%	Cons. · Japanese GAAP
FYE Mar 2024	2,056	+20.4%	Cons. · Japanese GAAP
FYE Mar 2025	2,262	+10.0%	Cons. · Japanese GAAP
FYE Mar 2026	2,539	+12.3%	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 ¥2.07tn

CAGR · 10 yrs +5.1%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,325	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,482	+11.9%	Cons. · Japanese GAAP
FYE Mar 2019	1,560	+5.3%	Cons. · Japanese GAAP
FYE Mar 2020	1,583	+1.5%	Cons. · Japanese GAAP
FYE Mar 2021	1,000	−36.8%	Cons. · Japanese GAAP
FYE Mar 2022	1,049	+4.9%	Cons. · Japanese GAAP
FYE Mar 2023	1,404	+33.7%	Cons. · Japanese GAAP
FYE Mar 2024	1,642	+17.0%	Cons. · Japanese GAAP
FYE Mar 2025	1,844	+12.3%	Cons. · Japanese GAAP
FYE Mar 2026	2,075	+12.5%	Cons. · Japanese GAAP

Definition: The cost of what was sold
Formula: Cost of sales line of the income statement
Source: Securities report (XBRL)

Gross profit

FYE Mar 2026 ¥464bn

CAGR · 10 yrs +0.6%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	440	n/a	Cons. · Japanese GAAP
FYE Mar 2018	490	+11.2%	Cons. · Japanese GAAP
FYE Mar 2019	498	+1.7%	Cons. · Japanese GAAP
FYE Mar 2020	391	−21.6%	Cons. · Japanese GAAP
FYE Mar 2021	-271	−169.4%	Cons. · Japanese GAAP
FYE Mar 2022	-29.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	304	n/a	Cons. · Japanese GAAP
FYE Mar 2024	414	+36.1%	Cons. · Japanese GAAP
FYE Mar 2025	418	+1.1%	Cons. · Japanese GAAP
FYE Mar 2026	464	+11.0%	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 ¥247bn

CAGR · 10 yrs −1.9%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	295	n/a	Cons. · Japanese GAAP
FYE Mar 2018	325	+10.4%	Cons. · Japanese GAAP
FYE Mar 2019	333	+2.5%	Cons. · Japanese GAAP
FYE Mar 2020	330	−1.0%	Cons. · Japanese GAAP
FYE Mar 2021	193	−41.4%	Cons. · Japanese GAAP
FYE Mar 2022	144	−25.5%	Cons. · Japanese GAAP
FYE Mar 2023	184	+27.7%	Cons. · Japanese GAAP
FYE Mar 2024	206	+11.9%	Cons. · Japanese GAAP
FYE Mar 2025	222	+7.7%	Cons. · Japanese GAAP
FYE Mar 2026	247	+11.4%	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 ¥217bn

CAGR · 10 yrs +4.6%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	146	n/a	Cons. · Japanese GAAP
FYE Mar 2018	165	+13.0%	Cons. · Japanese GAAP
FYE Mar 2019	165	+0.3%	Cons. · Japanese GAAP
FYE Mar 2020	60.8	−63.2%	Cons. · Japanese GAAP
FYE Mar 2021	-465	−864.4%	Cons. · Japanese GAAP
FYE Mar 2022	-173	n/a	Cons. · Japanese GAAP
FYE Mar 2023	120	n/a	Cons. · Japanese GAAP
FYE Mar 2024	208	+73.2%	Cons. · Japanese GAAP
FYE Mar 2025	197	−5.4%	Cons. · Japanese GAAP
FYE Mar 2026	217	+10.6%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥35bn

CAGR · 10 yrs +9.8%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	15.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.6	−16.1%	Cons. · Japanese GAAP
FYE Mar 2019	16.6	+31.6%	Cons. · Japanese GAAP
FYE Mar 2020	18.7	+12.4%	Cons. · Japanese GAAP
FYE Mar 2021	60.7	+225.3%	Cons. · Japanese GAAP
FYE Mar 2022	40.6	−33.2%	Cons. · Japanese GAAP
FYE Mar 2023	28.6	−29.5%	Cons. · Japanese GAAP
FYE Mar 2024	30.8	+7.6%	Cons. · Japanese GAAP
FYE Mar 2025	36.1	+17.3%	Cons. · Japanese GAAP
FYE Mar 2026	34.8	−3.7%	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 ¥33bn

CAGR · 10 yrs +5.4%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	20.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.5	−18.4%	Cons. · Japanese GAAP
FYE Mar 2019	24.9	+51.2%	Cons. · Japanese GAAP
FYE Mar 2020	20.1	−19.4%	Cons. · Japanese GAAP
FYE Mar 2021	47.3	+135.2%	Cons. · Japanese GAAP
FYE Mar 2022	52.4	+10.7%	Cons. · Japanese GAAP
FYE Mar 2023	36.8	−29.7%	Cons. · Japanese GAAP
FYE Mar 2024	31.0	−15.7%	Cons. · Japanese GAAP
FYE Mar 2025	32.7	+5.2%	Cons. · Japanese GAAP
FYE Mar 2026	32.6	−0.3%	Cons. · Japanese GAAP

Definition: Costs arising outside the core business
Formula: Non-operating expenses line of the income statement
Source: Securities report (XBRL)

Ordinary profit keijo rieki

FYE Mar 2026 ¥220bn

CAGR · 10 yrs +5.1%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	140	n/a	Cons. · Japanese GAAP
FYE Mar 2018	161	+14.4%	Cons. · Japanese GAAP
FYE Mar 2019	157	−2.5%	Cons. · Japanese GAAP
FYE Mar 2020	59.4	−62.1%	Cons. · Japanese GAAP
FYE Mar 2021	-451	−860.4%	Cons. · Japanese GAAP
FYE Mar 2022	-185	n/a	Cons. · Japanese GAAP
FYE Mar 2023	112	n/a	Cons. · Japanese GAAP
FYE Mar 2024	208	+85.7%	Cons. · Japanese GAAP
FYE Mar 2025	200	−3.6%	Cons. · Japanese GAAP
FYE Mar 2026	220	+9.8%	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 ¥12bn

CAGR · 9 yrs +22.9%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	44.8	+1860.5%	Cons. · Japanese GAAP
FYE Mar 2019	6.8	−84.8%	Cons. · Japanese GAAP
FYE Mar 2020	19.3	+182.6%	Cons. · Japanese GAAP
FYE Mar 2021	5.2	−72.9%	Cons. · Japanese GAAP
FYE Mar 2022	28.3	+442.3%	Cons. · Japanese GAAP
FYE Mar 2023	3.6	−87.4%	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	11.9	+2848.3%	Cons. · Japanese GAAP

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

Extraordinary loss

FYE Mar 2026 n/a

CAGR · 3 yrs +94.1%

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	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	2.8	+170.4%	Cons. · Japanese GAAP
FYE Mar 2025	3.9	+39.2%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥169bn

CAGR · 10 yrs +6.1%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	98.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	144	+45.6%	Cons. · Japanese GAAP
FYE Mar 2019	111	−23.0%	Cons. · Japanese GAAP
FYE Mar 2020	27.7	−75.0%	Cons. · Japanese GAAP
FYE Mar 2021	-405	−1563.1%	Cons. · Japanese GAAP
FYE Mar 2022	-144	n/a	Cons. · Japanese GAAP
FYE Mar 2023	89.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	157	+75.6%	Cons. · Japanese GAAP
FYE Mar 2025	153	−2.6%	Cons. · Japanese GAAP
FYE Mar 2026	169	+10.5%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 18.3%

Average · 10 yrs 12.8%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	24.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	24.2	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	19.8	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2021	-37.2	−57.0pp	Cons. · Japanese GAAP
FYE Mar 2022	-2.9	+34.4pp	Cons. · Japanese GAAP
FYE Mar 2023	17.8	+20.7pp	Cons. · Japanese GAAP
FYE Mar 2024	20.1	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2025	18.5	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	18.3	−0.2pp	Cons. · Japanese GAAP

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

Operating margin

FYE Mar 2026 8.6%

Average · 10 yrs -1.9%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	8.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	3.1	−4.9pp	Cons. · Japanese GAAP
FYE Mar 2021	-63.8	−66.9pp	Cons. · Japanese GAAP
FYE Mar 2022	-17.0	+46.8pp	Cons. · Japanese GAAP
FYE Mar 2023	7.0	+24.0pp	Cons. · Japanese GAAP
FYE Mar 2024	10.1	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2025	8.7	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2026	8.6	−0.1pp	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 8.7%

Average · 10 yrs -1.9%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	8.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	7.6	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	3.0	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2021	-61.9	−64.9pp	Cons. · Japanese GAAP
FYE Mar 2022	-18.1	+43.8pp	Cons. · Japanese GAAP
FYE Mar 2023	6.5	+24.7pp	Cons. · Japanese GAAP
FYE Mar 2024	10.1	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2025	8.8	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	8.7	−0.2pp	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 6.7%

Average · 10 yrs -2.4%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.3	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2019	5.4	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2020	1.4	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2021	-55.5	−56.9pp	Cons. · Japanese GAAP
FYE Mar 2022	-14.1	+41.5pp	Cons. · Japanese GAAP
FYE Mar 2023	5.2	+19.3pp	Cons. · Japanese GAAP
FYE Mar 2024	7.6	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2025	6.8	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	6.7	−0.1pp	Cons. · Japanese GAAP

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

Cost-of-sales ratio

FYE Mar 2026 81.7%

Average · 10 yrs 87.2%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	75.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	75.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	75.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	80.2	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2021	137.2	+57.0pp	Cons. · Japanese GAAP
FYE Mar 2022	102.9	−34.4pp	Cons. · Japanese GAAP
FYE Mar 2023	82.2	−20.7pp	Cons. · Japanese GAAP
FYE Mar 2024	79.9	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2025	81.5	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2026	81.7	+0.2pp	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 9.7%

Average · 10 yrs 14.7%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	16.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	16.2	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	16.7	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	26.5	+9.8pp	Cons. · Japanese GAAP
FYE Mar 2022	14.1	−12.4pp	Cons. · Japanese GAAP
FYE Mar 2023	10.8	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2024	10.0	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2025	9.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	9.7	−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 ¥3.96tn

CAGR · 10 yrs +6.1%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	2,314	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,562	+10.7%	Cons. · Japanese GAAP
FYE Mar 2019	2,687	+4.9%	Cons. · Japanese GAAP
FYE Mar 2020	2,560	−4.7%	Cons. · Japanese GAAP
FYE Mar 2021	3,208	+25.3%	Cons. · Japanese GAAP
FYE Mar 2022	3,218	+0.3%	Cons. · Japanese GAAP
FYE Mar 2023	3,367	+4.6%	Cons. · Japanese GAAP
FYE Mar 2024	3,570	+6.0%	Cons. · Japanese GAAP
FYE Mar 2025	3,620	+1.4%	Cons. · Japanese GAAP
FYE Mar 2026	3,955	+9.2%	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 ¥1.49tn

CAGR · 10 yrs +5.5%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	919	n/a	Cons. · Japanese GAAP
FYE Mar 2018	989	+7.6%	Cons. · Japanese GAAP
FYE Mar 2019	1,099	+11.2%	Cons. · Japanese GAAP
FYE Mar 2020	1,061	−3.5%	Cons. · Japanese GAAP
FYE Mar 2021	1,007	−5.1%	Cons. · Japanese GAAP
FYE Mar 2022	797	−20.8%	Cons. · Japanese GAAP
FYE Mar 2023	862	+8.2%	Cons. · Japanese GAAP
FYE Mar 2024	1,045	+21.1%	Cons. · Japanese GAAP
FYE Mar 2025	1,130	+8.2%	Cons. · Japanese GAAP
FYE Mar 2026	1,492	+32.0%	Cons. · Japanese GAAP

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

Interest-bearing debt

FYE Mar 2026 ¥812bn

CAGR · 10 yrs +6.3%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	470	n/a	Cons. · Japanese GAAP
FYE Mar 2018	418	−10.9%	Cons. · Japanese GAAP
FYE Mar 2019	407	−2.7%	Cons. · Japanese GAAP
FYE Mar 2020	417	+2.5%	Cons. · Japanese GAAP
FYE Mar 2021	1,268	+203.9%	Cons. · Japanese GAAP
FYE Mar 2022	1,202	−5.2%	Cons. · Japanese GAAP
FYE Mar 2023	1,110	−7.7%	Cons. · Japanese GAAP
FYE Mar 2024	1,028	−7.4%	Cons. · Japanese GAAP
FYE Mar 2025	769	−25.2%	Cons. · Japanese GAAP
FYE Mar 2026	812	+5.7%	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Mar 2026 ¥69bn

CAGR · 10 yrs +115.1%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	0.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.2	+151.4%	Cons. · Japanese GAAP
FYE Mar 2019	0.3	+90.9%	Cons. · Japanese GAAP
FYE Mar 2020	0.4	+27.7%	Cons. · Japanese GAAP
FYE Mar 2021	100	+23226.3%	Cons. · Japanese GAAP
FYE Mar 2022	100	−0.0%	Cons. · Japanese GAAP
FYE Mar 2023	92.2	−7.9%	Cons. · Japanese GAAP
FYE Mar 2024	84.2	−8.7%	Cons. · Japanese GAAP
FYE Mar 2025	76.9	−8.6%	Cons. · Japanese GAAP
FYE Mar 2026	69.0	−10.4%	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 ¥743bn

CAGR · 10 yrs +3.1%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	563	n/a	Cons. · Japanese GAAP
FYE Mar 2018	503	−10.7%	Cons. · Japanese GAAP
FYE Mar 2019	485	−3.6%	Cons. · Japanese GAAP
FYE Mar 2020	501	+3.4%	Cons. · Japanese GAAP
FYE Mar 2021	1,238	+147.1%	Cons. · Japanese GAAP
FYE Mar 2022	1,165	−5.9%	Cons. · Japanese GAAP
FYE Mar 2023	1,102	−5.4%	Cons. · Japanese GAAP
FYE Mar 2024	1,018	−7.7%	Cons. · Japanese GAAP
FYE Mar 2025	959	−5.7%	Cons. · Japanese GAAP
FYE Mar 2026	743	−22.5%	Cons. · Japanese GAAP

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

Bonds

FYE Mar 2026 n/a

CAGR · 9 yrs +9.7%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	145	n/a	Cons. · Japanese GAAP
FYE Mar 2018	275	+89.7%	Cons. · Japanese GAAP
FYE Mar 2019	285	+3.6%	Cons. · Japanese GAAP
FYE Mar 2020	325	+14.0%	Cons. · Japanese GAAP
FYE Mar 2021	305	−6.2%	Cons. · Japanese GAAP
FYE Mar 2022	475	+55.7%	Cons. · Japanese GAAP
FYE Mar 2023	405	−14.7%	Cons. · Japanese GAAP
FYE Mar 2024	375	−7.4%	Cons. · Japanese GAAP
FYE Mar 2025	305	−18.7%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

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

Intangible assets

FYE Mar 2026 ¥147bn

CAGR · 10 yrs +5.7%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	89.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	155	+74.4%	Cons. · Japanese GAAP
FYE Mar 2019	155	−0.0%	Cons. · Japanese GAAP
FYE Mar 2020	126	−19.1%	Cons. · Japanese GAAP
FYE Mar 2021	110	−12.2%	Cons. · Japanese GAAP
FYE Mar 2022	93.3	−15.3%	Cons. · Japanese GAAP
FYE Mar 2023	87.8	−5.9%	Cons. · Japanese GAAP
FYE Mar 2024	104	+18.3%	Cons. · Japanese GAAP
FYE Mar 2025	130	+25.3%	Cons. · Japanese GAAP
FYE Mar 2026	147	+12.8%	Cons. · Japanese GAAP

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

Goodwill

FYE Mar 2026 ¥12bn

CAGR · 10 yrs +31.2%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	55.3	+5215.7%	Cons. · Japanese GAAP
FYE Mar 2019	51.1	−7.6%	Cons. · Japanese GAAP
FYE Mar 2020	24.5	−52.2%	Cons. · Japanese GAAP
FYE Mar 2021	22.3	−8.6%	Cons. · Japanese GAAP
FYE Mar 2022	20.2	−9.5%	Cons. · Japanese GAAP
FYE Mar 2023	18.1	−10.5%	Cons. · Japanese GAAP
FYE Mar 2024	16.0	−11.7%	Cons. · Japanese GAAP
FYE Mar 2025	14.0	−12.5%	Cons. · Japanese GAAP
FYE Mar 2026	12.0	−14.3%	Cons. · Japanese GAAP

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 37.7%

Average · 10 yrs 34.1%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	39.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	38.6	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	40.9	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2020	41.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	31.4	−10.0pp	Cons. · Japanese GAAP
FYE Mar 2022	24.8	−6.6pp	Cons. · Japanese GAAP
FYE Mar 2023	25.6	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	29.3	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2025	31.2	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	37.7	+6.5pp	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 54.4%

Average · 10 yrs 79.6%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	51.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	42.3	−8.8pp	Cons. · Japanese GAAP
FYE Mar 2019	37.0	−5.3pp	Cons. · Japanese GAAP
FYE Mar 2020	39.3	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2021	125.9	+86.6pp	Cons. · Japanese GAAP
FYE Mar 2022	150.8	+24.9pp	Cons. · Japanese GAAP
FYE Mar 2023	128.7	−22.1pp	Cons. · Japanese GAAP
FYE Mar 2024	98.4	−30.3pp	Cons. · Japanese GAAP
FYE Mar 2025	68.0	−30.4pp	Cons. · Japanese GAAP
FYE Mar 2026	54.4	−13.6pp	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 11.3%

Average · 10 yrs 3.0%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	10.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.6	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2019	10.1	−4.5pp	Cons. · Japanese GAAP
FYE Mar 2020	2.6	−7.5pp	Cons. · Japanese GAAP
FYE Mar 2021	-40.2	−42.8pp	Cons. · Japanese GAAP
FYE Mar 2022	-18.0	+22.2pp	Cons. · Japanese GAAP
FYE Mar 2023	10.4	+28.4pp	Cons. · Japanese GAAP
FYE Mar 2024	15.0	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2025	13.5	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	11.3	−2.2pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 4.3%

Average · 10 yrs 1.4%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	4.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.6	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	4.1	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	1.1	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2021	-12.6	−13.7pp	Cons. · Japanese GAAP
FYE Mar 2022	-4.5	+8.2pp	Cons. · Japanese GAAP
FYE Mar 2023	2.7	+7.1pp	Cons. · Japanese GAAP
FYE Mar 2024	4.4	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2025	4.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	4.3	−0.0pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.64×

CAGR · 10 yrs −1.9%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.76	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.77	+0.9%	Cons. · Japanese GAAP
FYE Mar 2019	0.77	−0.5%	Cons. · Japanese GAAP
FYE Mar 2020	0.77	+0.7%	Cons. · Japanese GAAP
FYE Mar 2021	0.23	−70.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.32	+39.6%	Cons. · Japanese GAAP
FYE Mar 2023	0.51	+60.0%	Cons. · Japanese GAAP
FYE Mar 2024	0.58	+13.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.62	+8.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.64	+2.8%	Cons. · Japanese GAAP

Definition: How much revenue each yen of assets produces
Formula: Revenue ÷ total assets
Source: Securities report (XBRL)

Cash flow statement Cash from operations, investment and financing, and what is left on hand

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥443bn

CAGR · 10 yrs +7.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	237	n/a	Cons. · Japanese GAAP
FYE Mar 2018	316	+33.3%	Cons. · Japanese GAAP
FYE Mar 2019	296	−6.3%	Cons. · Japanese GAAP
FYE Mar 2020	130	−56.0%	Cons. · Japanese GAAP
FYE Mar 2021	-270	−307.8%	Cons. · Japanese GAAP
FYE Mar 2022	-76.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	450	n/a	Cons. · Japanese GAAP
FYE Mar 2024	421	−6.5%	Cons. · Japanese GAAP
FYE Mar 2025	373	−11.3%	Cons. · Japanese GAAP
FYE Mar 2026	443	+18.9%	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 -¥415bn

Average · 10 yrs -¥266bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-195	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-324	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-309	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-230	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-596	n/a	Cons. · Japanese GAAP
FYE Mar 2022	230	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-78.3	−134.0%	Cons. · Japanese GAAP
FYE Mar 2024	-400	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-344	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-415	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 -¥159bn

Average · 10 yrs ¥53bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-30.0	−995.5%	Cons. · Japanese GAAP
FYE Mar 2019	-46.5	n/a	Cons. · Japanese GAAP
FYE Mar 2020	23.9	n/a	Cons. · Japanese GAAP
FYE Mar 2021	1,098	+4500.8%	Cons. · Japanese GAAP
FYE Mar 2022	93.6	−91.5%	Cons. · Japanese GAAP
FYE Mar 2023	-143	−252.6%	Cons. · Japanese GAAP
FYE Mar 2024	-136	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-170	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-159	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 ¥736bn

CAGR · 10 yrs +10.1%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	309	n/a	Cons. · Japanese GAAP
FYE Mar 2018	271	−12.5%	Cons. · Japanese GAAP
FYE Mar 2019	212	−21.7%	Cons. · Japanese GAAP
FYE Mar 2020	136	−35.8%	Cons. · Japanese GAAP
FYE Mar 2021	370	+172.4%	Cons. · Japanese GAAP
FYE Mar 2022	621	+67.7%	Cons. · Japanese GAAP
FYE Mar 2023	1,113	+79.3%	Cons. · Japanese GAAP
FYE Mar 2024	1,003	−10.0%	Cons. · Japanese GAAP
FYE Mar 2025	863	−13.9%	Cons. · Japanese GAAP
FYE Mar 2026	736	−14.6%	Cons. · Japanese GAAP

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

Free cash flow

FYE Mar 2026 ¥28bn

CAGR · 10 yrs −4.4%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	42.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-8.5	−120.0%	Cons. · Japanese GAAP
FYE Mar 2019	-12.5	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-100	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-866	n/a	Cons. · Japanese GAAP
FYE Mar 2022	154	n/a	Cons. · Japanese GAAP
FYE Mar 2023	372	+141.9%	Cons. · Japanese GAAP
FYE Mar 2024	21.1	−94.3%	Cons. · Japanese GAAP
FYE Mar 2025	29.4	+39.3%	Cons. · Japanese GAAP
FYE Mar 2026	28.2	−3.9%	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 17.5%

Average · 10 yrs 8.7%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	13.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.0	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2019	14.4	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2020	6.6	−7.8pp	Cons. · Japanese GAAP
FYE Mar 2021	-37.1	−43.7pp	Cons. · Japanese GAAP
FYE Mar 2022	-7.5	+29.6pp	Cons. · Japanese GAAP
FYE Mar 2023	26.3	+33.8pp	Cons. · Japanese GAAP
FYE Mar 2024	20.5	−5.9pp	Cons. · Japanese GAAP
FYE Mar 2025	16.5	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2026	17.5	+1.0pp	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 -¥76bn

Average · 10 yrs -¥227bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-161	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-148	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-195	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-281	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-898	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-581	n/a	Cons. · Japanese GAAP
FYE Mar 2023	3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-25.5	−783.5%	Cons. · Japanese GAAP
FYE Mar 2025	93.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-75.9	−180.8%	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Mar 2026 ¥1.35tn

Change · 8 yrs +¥162bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	1,191	n/a
FYE Mar 2018	1,442	n/a
FYE Mar 2019	1,419	n/a
FYE Mar 2020	919	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	n/a	n/a
FYE Mar 2023	1,391	n/a
FYE Mar 2024	1,558	n/a
FYE Mar 2025	1,340	n/a
FYE Mar 2026	1,354	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 2,795¥

Change · 8 yrs +2,456¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	339	n/a
FYE Mar 2018	4,136	n/a
FYE Mar 2019	4,072	n/a
FYE Mar 2020	2,637	n/a
FYE Mar 2021	n/a	n/a
FYE Mar 2022	n/a	n/a
FYE Mar 2023	2,873	n/a
FYE Mar 2024	3,217	n/a
FYE Mar 2025	2,767	n/a
FYE Mar 2026	2,795	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 484,293,561shares

Change · 10 yrs −3,032,131,696 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	3,516,425,257	Parent
FYE Mar 2018	348,498,361	Parent
FYE Mar 2019	348,498,361	Parent
FYE Mar 2020	348,498,361	Parent
FYE Mar 2021	484,293,561	Parent
FYE Mar 2022	484,293,561	Parent
FYE Mar 2023	484,293,561	Parent
FYE Mar 2024	484,293,561	Parent
FYE Mar 2025	484,293,561	Parent
FYE Mar 2026	484,293,561	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 358.37¥

Change · 10 yrs +76.02¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	282.35	Cons.
FYE Mar 2018	417.82	Cons.
FYE Mar 2019	331.04	Cons.
FYE Mar 2020	82.66	Cons.
FYE Mar 2021	-1,082.04	Cons.
FYE Mar 2022	-305.37	Cons.
FYE Mar 2023	190.24	Cons.
FYE Mar 2024	335.09	Cons.
FYE Mar 2025	325.58	Cons.
FYE Mar 2026	358.37	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 3,080.77¥

Change · 10 yrs +2,819.38¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	261.39	Cons. · Japanese GAAP
FYE Mar 2018	2,836.92	Cons. · Japanese GAAP
FYE Mar 2019	3,154.71	Cons. · Japanese GAAP
FYE Mar 2020	3,044.57	Cons. · Japanese GAAP
FYE Mar 2021	2,079.80	Cons. · Japanese GAAP
FYE Mar 2022	1,646.21	Cons. · Japanese GAAP
FYE Mar 2023	1,780.78	Cons. · Japanese GAAP
FYE Mar 2024	2,156.77	Cons. · Japanese GAAP
FYE Mar 2025	2,333.95	Cons. · Japanese GAAP
FYE Mar 2026	3,080.77	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 7.80×

Average · 8 yrs 13.39×

Fiscal year	PER ×	Basis
FYE Mar 2017	12.00	Cons.
FYE Mar 2018	9.90	Cons.
FYE Mar 2019	12.30	Cons.
FYE Mar 2020	31.90	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	n/a	Cons.
FYE Mar 2023	15.10	Cons.
FYE Mar 2024	9.60	Cons.
FYE Mar 2025	8.50	Cons.
FYE Mar 2026	7.80	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 1.24×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.29	Cons.
FYE Mar 2018	1.40	Cons.
FYE Mar 2019	1.24	Cons.
FYE Mar 2020	0.83	Cons.
FYE Mar 2021	n/a	Cons.
FYE Mar 2022	n/a	Cons.
FYE Mar 2023	1.57	Cons.
FYE Mar 2024	1.45	Cons.
FYE Mar 2025	1.15	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 47,826people

Change · 10 yrs +8,583 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	39,243	n/a	Cons.
FYE Mar 2018	41,930	+6.8%	Cons.
FYE Mar 2019	43,466	+3.7%	Cons.
FYE Mar 2020	45,849	+5.5%	Cons.
FYE Mar 2021	46,580	+1.6%	Cons.
FYE Mar 2022	42,196	−9.4%	Cons.
FYE Mar 2023	40,507	−4.0%	Cons.
FYE Mar 2024	41,225	+1.8%	Cons.
FYE Mar 2025	44,019	+6.8%	Cons.
FYE Mar 2026	47,826	+8.6%	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 286people

Change · 10 yrs +136 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	150	n/a	Parent
FYE Mar 2018	170	+13.3%	Parent
FYE Mar 2019	187	+10.0%	Parent
FYE Mar 2020	185	−1.1%	Parent
FYE Mar 2021	175	−5.4%	Parent
FYE Mar 2022	200	+14.3%	Parent
FYE Mar 2023	253	+26.5%	Parent
FYE Mar 2024	260	+2.8%	Parent
FYE Mar 2025	276	+6.2%	Parent
FYE Mar 2026	286	+3.6%	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 ¥7.7m

Change · 10 yrs −¥0.5m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	8.2	n/a	Parent
FYE Mar 2018	7.6	−6.9%	Parent
FYE Mar 2019	7.8	+2.0%	Parent
FYE Mar 2020	7.4	−5.2%	Parent
FYE Mar 2021	5.6	−23.5%	Parent
FYE Mar 2022	5.0	−12.1%	Parent
FYE Mar 2023	6.9	+39.4%	Parent
FYE Mar 2024	7.1	+3.3%	Parent
FYE Mar 2025	7.3	+2.3%	Parent
FYE Mar 2026	7.7	+5.6%	Parent

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

Average age

FYE Mar 2026 46.2years

Change · 8 yrs +0.7 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	45.5	n/a	Parent
FYE Mar 2020	45.8	+0.7%	Parent
FYE Mar 2021	45.2	−1.3%	Parent
FYE Mar 2022	45.0	−0.4%	Parent
FYE Mar 2023	45.5	+1.1%	Parent
FYE Mar 2024	45.3	−0.4%	Parent
FYE Mar 2025	45.5	+0.4%	Parent
FYE Mar 2026	46.2	+1.5%	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 2.9years

Change · 10 yrs +0.3 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	2.6	n/a	Parent
FYE Mar 2018	2.7	+3.1%	Parent
FYE Mar 2019	3.4	+25.0%	Parent
FYE Mar 2020	3.6	+8.1%	Parent
FYE Mar 2021	3.9	+6.4%	Parent
FYE Mar 2022	3.1	−19.5%	Parent
FYE Mar 2023	3.5	+12.9%	Parent
FYE Mar 2024	2.3	−33.4%	Parent
FYE Mar 2025	2.8	+21.5%	Parent
FYE Mar 2026	2.9	+2.5%	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)

Temporary employees

FYE Mar 2026 3,000people

Change · 10 yrs −1,031 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	4,031	n/a	n/a
FYE Mar 2018	3,948	−2.1%	n/a
FYE Mar 2019	3,608	−8.6%	n/a
FYE Mar 2020	3,599	−0.2%	n/a
FYE Mar 2021	3,027	−15.9%	n/a
FYE Mar 2022	2,025	−33.1%	n/a
FYE Mar 2023	2,287	+12.9%	n/a
FYE Mar 2024	2,789	+22.0%	n/a
FYE Mar 2025	2,903	+4.1%	n/a
FYE Mar 2026	3,000	+3.3%	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 ¥53.1m

Change · 10 yrs +¥8.1m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	45.0	n/a	Cons.
FYE Mar 2018	47.0	+4.5%	Cons.
FYE Mar 2019	47.4	+0.7%	Cons.
FYE Mar 2020	43.1	−9.1%	Cons.
FYE Mar 2021	15.6	−63.7%	Cons.
FYE Mar 2022	24.2	+54.6%	Cons.
FYE Mar 2023	42.2	+74.3%	Cons.
FYE Mar 2024	49.9	+18.3%	Cons.
FYE Mar 2025	51.4	+3.0%	Cons.
FYE Mar 2026	53.1	+3.3%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥4.5m

Change · 10 yrs +¥0.8m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.7	n/a	Cons.
FYE Mar 2018	3.9	+5.8%	Cons.
FYE Mar 2019	3.8	−3.2%	Cons.
FYE Mar 2020	1.3	−65.1%	Cons.
FYE Mar 2021	-10.0	−852.4%	Cons.
FYE Mar 2022	-4.1	n/a	Cons.
FYE Mar 2023	3.0	n/a	Cons.
FYE Mar 2024	5.0	+70.2%	Cons.
FYE Mar 2025	4.5	−11.4%	Cons.
FYE Mar 2026	4.5	+1.8%	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 →

Data API

ANA Holdings’s history, presidents and financials are published as static JSON — no key, plain GET. One API per public page, and one per section where a page carries several tables. Full specification →

/api/9202/company.json ·/api/9202/history.json ·/api/9202/ceo.json ·/api/9202/financials.json ·/api/9202/financials/segment.json ·/api/9202/financials/pl.json ·/api/9202/financials/cf.json ·/api/9202/financials/bs.json ·/api/9202/financials/employee.json ·/api/9202/financials/stock.json ·/api/9202/financials.csv ·/api/9202/financials_history.csv

/api/companies.json ·/api/decisions.json ·/api/api-manifest.json