Financials

TBS Holdings: FYE Mar 2026 and ten years of results (50 metrics)

FYE Mar 2026 · Revenue¥425bnYoY +4.5%

FYE Mar 2026 · Operating profit¥25bnYoY +27.2%

FYE Mar 2026 · Net profit¥52bnYoY +18.9%

FYE Mar 2026 · Equity ratio69.3%YoY −2.9pp

FYE Mar 2026 · Group employees8,518YoY +423

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥355bn	n/a	¥20bn	n/a	5.6%	¥16bn	Ishihara Toshichika	—
FYE Mar 2018Consolidated	¥362bn	+1.9%	¥19bn	−5.4%	5.2%	¥17bn	Takeda Shinji	—
FYE Mar 2019Consolidated	¥366bn	+1.2%	¥19bn	−1.2%	5.1%	¥25bn	Takeda Shinji	Paravi streaming service launched
FYE Mar 2020Consolidated	¥357bn	−2.6%	¥13bn	−29.4%	3.7%	¥30bn	Sasaki Takashi	—
FYE Mar 2021Consolidated	¥326bn	−8.7%	¥11bn	−17.3%	3.3%	¥28bn	Sasaki Takashi	Renamed TBS Holdings
FYE Mar 2022Consolidated	¥358bn	+10.0%	¥20bn	+87.7%	5.7%	¥32bn	Sasaki Takashi	VISION2030 and the EDGE strategy
FYE Mar 2023Consolidated	¥368bn	+2.8%	¥21bn	+2.1%	5.6%	¥35bn	Sasaki Takashi	—
FYE Mar 2024Consolidated	¥394bn	+7.1%	¥15bn	−27.0%	3.8%	¥38bn	Sasaki Takashi	Paravi merged into U-NEXT; Yaruki Switch Group consolidated
FYE Mar 2025Consolidated	¥407bn	+3.1%	¥19bn	+28.3%	4.8%	¥44bn	Sasaki Takashi	Medium-term plan 2026 introduces ROIC management
FYE Mar 2026Consolidated	¥425bn	+4.5%	¥25bn	+27.2%	5.8%	¥52bn	Abe Ryujiro	—

How it compares

Fuji Media Holdings¥552bnFY2025Operating margin −1.6%Nippon Television Holdings¥484bnFY2025Operating margin 14.3%

TBS Holdings¥425bnFY2025Operating margin 5.8%

TV Asahi Holdings Corporation¥339bnFY2025Operating margin 7.7%

TV TOKYO Holdings Corporation¥165bnFY2025Operating margin 6.9%

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 ¥425bn

CAGR · 10 yrs +2.0%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	355	n/a	Cons. · Japanese GAAP
FYE Mar 2018	362	+1.9%	Cons. · Japanese GAAP
FYE Mar 2019	366	+1.2%	Cons. · Japanese GAAP
FYE Mar 2020	357	−2.6%	Cons. · Japanese GAAP
FYE Mar 2021	326	−8.7%	Cons. · Japanese GAAP
FYE Mar 2022	358	+10.0%	Cons. · Japanese GAAP
FYE Mar 2023	368	+2.8%	Cons. · Japanese GAAP
FYE Mar 2024	394	+7.1%	Cons. · Japanese GAAP
FYE Mar 2025	407	+3.1%	Cons. · Japanese GAAP
FYE Mar 2026	425	+4.5%	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 ¥284bn

CAGR · 10 yrs +1.8%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	242	n/a	Cons. · Japanese GAAP
FYE Mar 2018	248	+2.5%	Cons. · Japanese GAAP
FYE Mar 2019	251	+1.0%	Cons. · Japanese GAAP
FYE Mar 2020	250	−0.3%	Cons. · Japanese GAAP
FYE Mar 2021	230	−7.8%	Cons. · Japanese GAAP
FYE Mar 2022	243	+5.7%	Cons. · Japanese GAAP
FYE Mar 2023	252	+3.4%	Cons. · Japanese GAAP
FYE Mar 2024	274	+8.8%	Cons. · Japanese GAAP
FYE Mar 2025	278	+1.5%	Cons. · Japanese GAAP
FYE Mar 2026	284	+2.0%	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 ¥141bn

CAGR · 10 yrs +2.5%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	113	n/a	Cons. · Japanese GAAP
FYE Mar 2018	114	+0.4%	Cons. · Japanese GAAP
FYE Mar 2019	116	+1.7%	Cons. · Japanese GAAP
FYE Mar 2020	107	−7.5%	Cons. · Japanese GAAP
FYE Mar 2021	95.4	−10.8%	Cons. · Japanese GAAP
FYE Mar 2022	115	+20.3%	Cons. · Japanese GAAP
FYE Mar 2023	116	+1.4%	Cons. · Japanese GAAP
FYE Mar 2024	120	+3.4%	Cons. · Japanese GAAP
FYE Mar 2025	129	+6.9%	Cons. · Japanese GAAP
FYE Mar 2026	141	+9.8%	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 ¥117bn

CAGR · 10 yrs +2.5%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	93.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	94.9	+1.6%	Cons. · Japanese GAAP
FYE Mar 2019	97.2	+2.3%	Cons. · Japanese GAAP
FYE Mar 2020	93.9	−3.3%	Cons. · Japanese GAAP
FYE Mar 2021	84.6	−9.9%	Cons. · Japanese GAAP
FYE Mar 2022	94.5	+11.7%	Cons. · Japanese GAAP
FYE Mar 2023	95.6	+1.2%	Cons. · Japanese GAAP
FYE Mar 2024	105	+10.0%	Cons. · Japanese GAAP
FYE Mar 2025	109	+3.8%	Cons. · Japanese GAAP
FYE Mar 2026	117	+6.7%	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 ¥25bn

CAGR · 10 yrs +2.5%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	19.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.8	−5.4%	Cons. · Japanese GAAP
FYE Mar 2019	18.6	−1.2%	Cons. · Japanese GAAP
FYE Mar 2020	13.1	−29.4%	Cons. · Japanese GAAP
FYE Mar 2021	10.8	−17.3%	Cons. · Japanese GAAP
FYE Mar 2022	20.3	+87.7%	Cons. · Japanese GAAP
FYE Mar 2023	20.8	+2.1%	Cons. · Japanese GAAP
FYE Mar 2024	15.2	−27.0%	Cons. · Japanese GAAP
FYE Mar 2025	19.5	+28.3%	Cons. · Japanese GAAP
FYE Mar 2026	24.8	+27.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥15bn

CAGR · 10 yrs +8.6%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	7.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.9	+22.9%	Cons. · Japanese GAAP
FYE Mar 2019	11.8	+32.4%	Cons. · Japanese GAAP
FYE Mar 2020	9.7	−17.5%	Cons. · Japanese GAAP
FYE Mar 2021	9.4	−2.9%	Cons. · Japanese GAAP
FYE Mar 2022	11.7	+24.2%	Cons. · Japanese GAAP
FYE Mar 2023	15.2	+29.6%	Cons. · Japanese GAAP
FYE Mar 2024	13.6	−10.1%	Cons. · Japanese GAAP
FYE Mar 2025	13.7	+0.1%	Cons. · Japanese GAAP
FYE Mar 2026	15.2	+11.2%	Cons. · Japanese GAAP

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

Non-operating expenses

FYE Mar 2026 ¥2.6bn

CAGR · 10 yrs +12.2%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	−15.4%	Cons. · Japanese GAAP
FYE Mar 2019	1.5	+95.7%	Cons. · Japanese GAAP
FYE Mar 2020	1.5	+2.0%	Cons. · Japanese GAAP
FYE Mar 2021	1.0	−32.6%	Cons. · Japanese GAAP
FYE Mar 2022	1.4	+30.3%	Cons. · Japanese GAAP
FYE Mar 2023	0.9	−35.4%	Cons. · Japanese GAAP
FYE Mar 2024	1.2	+32.9%	Cons. · Japanese GAAP
FYE Mar 2025	1.5	+30.4%	Cons. · Japanese GAAP
FYE Mar 2026	2.6	+68.8%	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 ¥37bn

CAGR · 10 yrs +4.0%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	26.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.9	+2.7%	Cons. · Japanese GAAP
FYE Mar 2019	28.8	+7.1%	Cons. · Japanese GAAP
FYE Mar 2020	21.3	−26.2%	Cons. · Japanese GAAP
FYE Mar 2021	19.2	−9.6%	Cons. · Japanese GAAP
FYE Mar 2022	30.7	+59.7%	Cons. · Japanese GAAP
FYE Mar 2023	35.1	+14.3%	Cons. · Japanese GAAP
FYE Mar 2024	27.7	−21.2%	Cons. · Japanese GAAP
FYE Mar 2025	31.6	+14.3%	Cons. · Japanese GAAP
FYE Mar 2026	37.4	+18.3%	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 ¥49bn

CAGR · 10 yrs +83.0%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	+366.0%	Cons. · Japanese GAAP
FYE Mar 2019	12.8	+1200.5%	Cons. · Japanese GAAP
FYE Mar 2020	27.4	+113.0%	Cons. · Japanese GAAP
FYE Mar 2021	30.8	+12.4%	Cons. · Japanese GAAP
FYE Mar 2022	18.9	−38.5%	Cons. · Japanese GAAP
FYE Mar 2023	21.3	+12.5%	Cons. · Japanese GAAP
FYE Mar 2024	34.9	+64.0%	Cons. · Japanese GAAP
FYE Mar 2025	40.2	+15.1%	Cons. · Japanese GAAP
FYE Mar 2026	48.9	+21.6%	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 ¥52bn

CAGR · 10 yrs +13.9%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	16.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.2	+6.5%	Cons. · Japanese GAAP
FYE Mar 2019	25.2	+46.7%	Cons. · Japanese GAAP
FYE Mar 2020	30.2	+19.7%	Cons. · Japanese GAAP
FYE Mar 2021	28.1	−7.0%	Cons. · Japanese GAAP
FYE Mar 2022	32.0	+14.0%	Cons. · Japanese GAAP
FYE Mar 2023	35.2	+9.9%	Cons. · Japanese GAAP
FYE Mar 2024	38.1	+8.4%	Cons. · Japanese GAAP
FYE Mar 2025	43.9	+15.2%	Cons. · Japanese GAAP
FYE Mar 2026	52.2	+18.9%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 33.3%

Average · 10 yrs 31.3%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	31.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	31.4	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	31.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	30.0	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	29.3	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	32.0	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2023	31.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	30.5	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	31.7	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	33.3	+1.6pp	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 5.8%

Average · 10 yrs 4.9%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	5.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.2	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	5.1	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	3.7	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2021	3.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	5.7	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	5.6	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	3.8	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	4.8	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	5.8	+1.0pp	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 8.8%

Average · 10 yrs 7.6%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	7.9	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	6.0	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	5.9	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	8.6	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2023	9.5	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	7.0	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2025	7.8	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	8.8	+1.0pp	Cons. · Japanese GAAP

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

Net margin

FYE Mar 2026 12.3%

Average · 10 yrs 8.4%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	6.9	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2020	8.5	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	8.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	8.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2023	9.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	9.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	10.8	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	12.3	+1.5pp	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 66.7%

Average · 10 yrs 68.7%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	68.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	68.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	68.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	70.0	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	70.7	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	68.0	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2023	68.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	69.5	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	68.3	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	66.7	−1.6pp	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 27.4%

Average · 10 yrs 26.5%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	26.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	26.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	26.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	26.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	26.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2023	26.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	26.7	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	26.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	27.4	+0.6pp	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 ¥1.63tn

CAGR · 10 yrs +9.7%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	707	n/a	Cons. · Japanese GAAP
FYE Mar 2018	822	+16.2%	Cons. · Japanese GAAP
FYE Mar 2019	798	−2.8%	Cons. · Japanese GAAP
FYE Mar 2020	783	−1.9%	Cons. · Japanese GAAP
FYE Mar 2021	1,100	+40.5%	Cons. · Japanese GAAP
FYE Mar 2022	1,202	+9.2%	Cons. · Japanese GAAP
FYE Mar 2023	1,068	−11.1%	Cons. · Japanese GAAP
FYE Mar 2024	1,568	+46.8%	Cons. · Japanese GAAP
FYE Mar 2025	1,296	−17.3%	Cons. · Japanese GAAP
FYE Mar 2026	1,628	+25.6%	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 ¥1.13tn

CAGR · 10 yrs +9.4%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	502	n/a	Cons. · Japanese GAAP
FYE Mar 2018	585	+16.4%	Cons. · Japanese GAAP
FYE Mar 2019	585	−0.1%	Cons. · Japanese GAAP
FYE Mar 2020	578	−1.1%	Cons. · Japanese GAAP
FYE Mar 2021	781	+35.1%	Cons. · Japanese GAAP
FYE Mar 2022	868	+11.1%	Cons. · Japanese GAAP
FYE Mar 2023	781	−10.1%	Cons. · Japanese GAAP
FYE Mar 2024	1,138	+45.7%	Cons. · Japanese GAAP
FYE Mar 2025	936	−17.8%	Cons. · Japanese GAAP
FYE Mar 2026	1,128	+20.5%	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 ¥74bn

CAGR · 10 yrs +17.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	17.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.2	+19.3%	Cons. · Japanese GAAP
FYE Mar 2019	1.9	−91.1%	Cons. · Japanese GAAP
FYE Mar 2020	1.8	−4.3%	Cons. · Japanese GAAP
FYE Mar 2021	27.6	+1433.3%	Cons. · Japanese GAAP
FYE Mar 2022	26.0	−5.8%	Cons. · Japanese GAAP
FYE Mar 2023	20.0	−23.1%	Cons. · Japanese GAAP
FYE Mar 2024	3.8	−81.1%	Cons. · Japanese GAAP
FYE Mar 2025	13.9	+266.8%	Cons. · Japanese GAAP
FYE Mar 2026	73.7	+430.8%	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 ¥1.8bn

CAGR · 9 yrs +11.3%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	0.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.2	+2266.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−99.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.2	+1400.0%	Cons. · Japanese GAAP
FYE Mar 2021	0.6	−50.0%	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	20.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	0.4	−98.0%	Cons. · Japanese GAAP
FYE Mar 2025	1.2	+187.5%	Cons. · Japanese GAAP
FYE Mar 2026	1.8	+57.4%	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 ¥72bn

CAGR · 9 yrs +19.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	17.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.0	−82.4%	Cons. · Japanese GAAP
FYE Mar 2019	1.8	−40.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.6	−66.7%	Cons. · Japanese GAAP
FYE Mar 2021	27.0	+4400.0%	Cons. · Japanese GAAP
FYE Mar 2022	26.0	−3.7%	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	3.4	n/a	Cons. · Japanese GAAP
FYE Mar 2025	12.7	+276.2%	Cons. · Japanese GAAP
FYE Mar 2026	71.9	+464.6%	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 ¥49bn

CAGR · 10 yrs +8.3%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	23.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	23.8	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	22.1	−7.2%	Cons. · Japanese GAAP
FYE Mar 2020	20.0	−9.5%	Cons. · Japanese GAAP
FYE Mar 2021	19.2	−4.0%	Cons. · Japanese GAAP
FYE Mar 2022	17.1	−11.4%	Cons. · Japanese GAAP
FYE Mar 2023	14.9	−12.6%	Cons. · Japanese GAAP
FYE Mar 2024	53.0	+256.0%	Cons. · Japanese GAAP
FYE Mar 2025	49.9	−5.9%	Cons. · Japanese GAAP
FYE Mar 2026	48.9	−2.0%	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 ¥21bn

CAGR · 10 yrs +1.4%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	18.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.8	−9.7%	Cons. · Japanese GAAP
FYE Mar 2019	15.0	−10.7%	Cons. · Japanese GAAP
FYE Mar 2020	13.2	−12.0%	Cons. · Japanese GAAP
FYE Mar 2021	11.4	−13.6%	Cons. · Japanese GAAP
FYE Mar 2022	9.6	−15.8%	Cons. · Japanese GAAP
FYE Mar 2023	7.8	−18.7%	Cons. · Japanese GAAP
FYE Mar 2024	22.8	+191.7%	Cons. · Japanese GAAP
FYE Mar 2025	21.5	−5.6%	Cons. · Japanese GAAP
FYE Mar 2026	21.0	−2.5%	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 69.3%

Average · 10 yrs 72.0%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	71.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	71.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	73.2	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2020	73.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	71.0	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2022	72.3	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2023	73.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	72.6	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	72.2	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	69.3	−2.9pp	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 6.5%

Average · 10 yrs 2.5%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.6	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	0.3	−3.3pp	Cons. · Japanese GAAP
FYE Mar 2020	0.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	3.5	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2022	3.0	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	2.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	0.3	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2025	1.5	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	6.5	+5.0pp	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 4.6%

Average · 10 yrs 4.0%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.9	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	4.3	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	5.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	3.6	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	3.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	4.5	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	3.4	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2025	4.7	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	4.6	−0.1pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 3.2%

Average · 10 yrs 2.9%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	3.2	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2020	3.9	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	2.6	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	2.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	3.3	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	2.4	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	3.4	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	3.2	−0.2pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.26×

CAGR · 10 yrs −7.0%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.50	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.44	−12.4%	Cons. · Japanese GAAP
FYE Mar 2019	0.46	+4.2%	Cons. · Japanese GAAP
FYE Mar 2020	0.46	−0.7%	Cons. · Japanese GAAP
FYE Mar 2021	0.30	−35.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.30	+0.7%	Cons. · Japanese GAAP
FYE Mar 2023	0.34	+15.6%	Cons. · Japanese GAAP
FYE Mar 2024	0.25	−27.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.31	+24.7%	Cons. · Japanese GAAP
FYE Mar 2026	0.26	−16.8%	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 ¥10bn

CAGR · 10 yrs −13.3%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	36.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	35.5	−2.6%	Cons. · Japanese GAAP
FYE Mar 2019	35.2	−0.9%	Cons. · Japanese GAAP
FYE Mar 2020	21.4	−39.2%	Cons. · Japanese GAAP
FYE Mar 2021	22.7	+6.1%	Cons. · Japanese GAAP
FYE Mar 2022	-2.9	−112.6%	Cons. · Japanese GAAP
FYE Mar 2023	30.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	26.5	−13.4%	Cons. · Japanese GAAP
FYE Mar 2025	23.3	−12.3%	Cons. · Japanese GAAP
FYE Mar 2026	10.1	−56.5%	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 ¥30bn

Average · 10 yrs -¥5.0bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-10.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-14.0	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-21.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-8.6	−244.5%	Cons. · Japanese GAAP
FYE Mar 2022	-8.2	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-29.6	n/a	Cons. · Japanese GAAP
FYE Mar 2025	13.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	30.1	+120.6%	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 ¥9.1bn

Average · 10 yrs -¥15bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-36.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-7.7	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-24.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-14.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	16.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-8.2	−148.3%	Cons. · Japanese GAAP
FYE Mar 2023	-24.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-51.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-6.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	9.1	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 ¥124bn

CAGR · 10 yrs +7.0%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	67.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	81.1	+20.4%	Cons. · Japanese GAAP
FYE Mar 2019	72.0	−11.2%	Cons. · Japanese GAAP
FYE Mar 2020	85.1	+18.1%	Cons. · Japanese GAAP
FYE Mar 2021	116	+36.4%	Cons. · Japanese GAAP
FYE Mar 2022	98.7	−15.0%	Cons. · Japanese GAAP
FYE Mar 2023	97.6	−1.1%	Cons. · Japanese GAAP
FYE Mar 2024	43.7	−55.2%	Cons. · Japanese GAAP
FYE Mar 2025	74.6	+70.7%	Cons. · Japanese GAAP
FYE Mar 2026	124	+66.1%	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 ¥40bn

CAGR · 10 yrs +4.8%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	26.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	21.5	−18.6%	Cons. · Japanese GAAP
FYE Mar 2019	13.6	−36.6%	Cons. · Japanese GAAP
FYE Mar 2020	27.4	+100.8%	Cons. · Japanese GAAP
FYE Mar 2021	14.1	−48.5%	Cons. · Japanese GAAP
FYE Mar 2022	-11.0	−178.1%	Cons. · Japanese GAAP
FYE Mar 2023	23.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-3.0	−113.0%	Cons. · Japanese GAAP
FYE Mar 2025	36.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	40.2	+8.9%	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 2.4%

Average · 10 yrs 6.5%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	10.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.8	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	9.6	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	6.0	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2021	7.0	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	-0.8	−7.8pp	Cons. · Japanese GAAP
FYE Mar 2023	8.3	+9.1pp	Cons. · Japanese GAAP
FYE Mar 2024	6.7	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	5.7	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	2.4	−3.3pp	Cons. · Japanese GAAP

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

Net cash

FYE Mar 2026 ¥50bn

CAGR · 10 yrs +0.1%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	49.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	59.9	+20.8%	Cons. · Japanese GAAP
FYE Mar 2019	70.2	+17.1%	Cons. · Japanese GAAP
FYE Mar 2020	83.3	+18.7%	Cons. · Japanese GAAP
FYE Mar 2021	88.5	+6.2%	Cons. · Japanese GAAP
FYE Mar 2022	72.7	−17.8%	Cons. · Japanese GAAP
FYE Mar 2023	77.6	+6.7%	Cons. · Japanese GAAP
FYE Mar 2024	39.9	−48.6%	Cons. · Japanese GAAP
FYE Mar 2025	60.7	+52.1%	Cons. · Japanese GAAP
FYE Mar 2026	50.2	−17.2%	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 ¥927bn

Change · 10 yrs +¥549bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	379	n/a
FYE Mar 2018	394	n/a
FYE Mar 2019	353	n/a
FYE Mar 2020	263	n/a
FYE Mar 2021	379	n/a
FYE Mar 2022	305	n/a
FYE Mar 2023	326	n/a
FYE Mar 2024	736	n/a
FYE Mar 2025	705	n/a
FYE Mar 2026	927	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 5,601¥

Change · 10 yrs +3,613¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,988	n/a
FYE Mar 2018	2,253	n/a
FYE Mar 2019	2,020	n/a
FYE Mar 2020	1,508	n/a
FYE Mar 2021	2,169	n/a
FYE Mar 2022	1,780	n/a
FYE Mar 2023	1,900	n/a
FYE Mar 2024	4,367	n/a
FYE Mar 2025	4,259	n/a
FYE Mar 2026	5,601	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 165,591,000shares

Change · 10 yrs −24,843,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	190,434,000	Parent
FYE Mar 2018	174,709,000	Parent
FYE Mar 2019	174,709,000	Parent
FYE Mar 2020	174,709,000	Parent
FYE Mar 2021	174,709,000	Parent
FYE Mar 2022	171,591,000	Parent
FYE Mar 2023	171,591,000	Parent
FYE Mar 2024	168,591,000	Parent
FYE Mar 2025	165,591,000	Parent
FYE Mar 2026	165,591,000	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 331.42¥

Change · 10 yrs +238.96¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	92.46	Cons.
FYE Mar 2018	98.38	Cons.
FYE Mar 2019	144.31	Cons.
FYE Mar 2020	173.28	Cons.
FYE Mar 2021	164.32	Cons.
FYE Mar 2022	187.35	Cons.
FYE Mar 2023	208.76	Cons.
FYE Mar 2024	232.28	Cons.
FYE Mar 2025	273.04	Cons.
FYE Mar 2026	331.42	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 6,810.26¥

Change · 10 yrs +4,171.84¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	2,638.42	Cons. · Japanese GAAP
FYE Mar 2018	3,348.74	Cons. · Japanese GAAP
FYE Mar 2019	3,346.22	Cons. · Japanese GAAP
FYE Mar 2020	3,310.43	Cons. · Japanese GAAP
FYE Mar 2021	4,472.43	Cons. · Japanese GAAP
FYE Mar 2022	5,061.19	Cons. · Japanese GAAP
FYE Mar 2023	4,549.58	Cons. · Japanese GAAP
FYE Mar 2024	6,748.05	Cons. · Japanese GAAP
FYE Mar 2025	5,650.74	Cons. · Japanese GAAP
FYE Mar 2026	6,810.26	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 16.90×

Average · 10 yrs 15.02×

Fiscal year	PER ×	Basis
FYE Mar 2017	21.50	Cons.
FYE Mar 2018	22.90	Cons.
FYE Mar 2019	14.00	Cons.
FYE Mar 2020	8.70	Cons.
FYE Mar 2021	13.20	Cons.
FYE Mar 2022	9.50	Cons.
FYE Mar 2023	9.10	Cons.
FYE Mar 2024	18.80	Cons.
FYE Mar 2025	15.60	Cons.
FYE Mar 2026	16.90	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 0.78×

Average · 10 yrs 0.58×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.69	Cons.
FYE Mar 2018	0.67	Cons.
FYE Mar 2019	0.60	Cons.
FYE Mar 2020	0.45	Cons.
FYE Mar 2021	0.47	Cons.
FYE Mar 2022	0.35	Cons.
FYE Mar 2023	0.40	Cons.
FYE Mar 2024	0.62	Cons.
FYE Mar 2025	0.73	Cons.
FYE Mar 2026	0.78	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 8,518people

Change · 10 yrs +2,908 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	5,610	n/a	Cons.
FYE Mar 2018	5,552	−1.0%	Cons.
FYE Mar 2019	6,090	+9.7%	Cons.
FYE Mar 2020	6,155	+1.1%	Cons.
FYE Mar 2021	6,134	−0.3%	Cons.
FYE Mar 2022	6,454	+5.2%	Cons.
FYE Mar 2023	6,586	+2.0%	Cons.
FYE Mar 2024	7,992	+21.3%	Cons.
FYE Mar 2025	8,095	+1.3%	Cons.
FYE Mar 2026	8,518	+5.2%	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 269people

Change · 10 yrs +191 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	78	n/a	Parent
FYE Mar 2018	83	+6.4%	Parent
FYE Mar 2019	93	+12.0%	Parent
FYE Mar 2020	110	+18.3%	Parent
FYE Mar 2021	96	−12.7%	Parent
FYE Mar 2022	111	+15.6%	Parent
FYE Mar 2023	133	+19.8%	Parent
FYE Mar 2024	254	+91.0%	Parent
FYE Mar 2025	259	+2.0%	Parent
FYE Mar 2026	269	+3.9%	Parent

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

Average annual pay parent company

FYE Mar 2026 1,328万円

Change · 8 yrs −258万円

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	1,586	n/a	Parent
FYE Mar 2020	1,622	+2.3%	Parent
FYE Mar 2021	1,502	−7.4%	Parent
FYE Mar 2022	1,450	−3.5%	Parent
FYE Mar 2023	1,460	+0.7%	Parent
FYE Mar 2024	1,313	−10.1%	Parent
FYE Mar 2025	1,264	−3.7%	Parent
FYE Mar 2026	1,328	+5.1%	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 45.6years

Change · 8 yrs −5.4 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	51.0	n/a	Parent
FYE Mar 2020	50.0	−2.0%	Parent
FYE Mar 2021	48.4	−3.2%	Parent
FYE Mar 2022	49.1	+1.4%	Parent
FYE Mar 2023	47.2	−3.9%	Parent
FYE Mar 2024	47.0	−0.4%	Parent
FYE Mar 2025	46.2	−1.7%	Parent
FYE Mar 2026	45.6	−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 14.0years

Change · 8 yrs −10.8 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	24.8	n/a	Parent
FYE Mar 2020	23.5	−5.2%	Parent
FYE Mar 2021	21.4	−8.9%	Parent
FYE Mar 2022	22.0	+2.8%	Parent
FYE Mar 2023	19.7	−10.5%	Parent
FYE Mar 2024	14.7	−25.4%	Parent
FYE Mar 2025	13.3	−9.5%	Parent
FYE Mar 2026	14.0	+5.3%	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 8,921people

Change · 10 yrs +6,069 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	2,852	n/a	n/a
FYE Mar 2018	2,999	+5.2%	n/a
FYE Mar 2019	2,519	−16.0%	n/a
FYE Mar 2020	2,820	+11.9%	n/a
FYE Mar 2021	2,576	−8.7%	n/a
FYE Mar 2022	3,129	+21.5%	n/a
FYE Mar 2023	2,903	−7.2%	n/a
FYE Mar 2024	7,771	+167.7%	n/a
FYE Mar 2025	8,535	+9.8%	n/a
FYE Mar 2026	8,921	+4.5%	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 ¥49.9m

Change · 10 yrs −¥13.5m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	63.3	n/a	Cons.
FYE Mar 2018	65.2	+2.9%	Cons.
FYE Mar 2019	60.2	−7.7%	Cons.
FYE Mar 2020	58.0	−3.6%	Cons.
FYE Mar 2021	53.1	−8.4%	Cons.
FYE Mar 2022	55.5	+4.6%	Cons.
FYE Mar 2023	55.9	+0.7%	Cons.
FYE Mar 2024	49.3	−11.7%	Cons.
FYE Mar 2025	50.2	+1.8%	Cons.
FYE Mar 2026	49.9	−0.7%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥2.9m

Change · 10 yrs −¥0.6m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons.
FYE Mar 2018	3.4	−4.4%	Cons.
FYE Mar 2019	3.0	−9.9%	Cons.
FYE Mar 2020	2.1	−30.2%	Cons.
FYE Mar 2021	1.8	−17.0%	Cons.
FYE Mar 2022	3.2	+78.4%	Cons.
FYE Mar 2023	3.2	+0.1%	Cons.
FYE Mar 2024	1.9	−39.8%	Cons.
FYE Mar 2025	2.4	+26.6%	Cons.
FYE Mar 2026	2.9	+20.8%	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 →

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