Financials

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

FYE Mar 2026 · Revenue¥283bnYoY +1.8%

FYE Mar 2026 · Operating profit¥8.1bnYoY −51.3%

FYE Mar 2026 · Net profit¥1.3bnYoY −82.7%

FYE Mar 2026 · Equity ratio62.8%YoY +1.3pp

FYE Mar 2026 · Group employees7,332YoY +365

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥206bn	n/a	¥8.4bn	n/a	4.1%	¥5.8bn	Kawakami Nobuo	Dwango opens N High School, a correspondence high school
FYE Mar 2018Consolidated	¥207bn	+0.5%	¥3.1bn	−62.7%	1.5%	¥1.0bn	Kawakami Nobuo	—
FYE Mar 2019Consolidated	¥209bn	+0.9%	¥2.7bn	−13.9%	1.3%	-¥4.1bn	Kawakami Nobuo	—
FYE Mar 2020Consolidated	¥205bn	−1.9%	¥8.1bn	+198.7%	4.0%	¥8.1bn	Kawakami Nobuo	The holding company absorbs KADOKAWA and takes its name in July
FYE Mar 2021Consolidated	¥210bn	+2.6%	¥14bn	+68.5%	6.5%	¥9.6bn	Matsubara Masaki	Tokorozawa Sakura Town opens in Saitama in August
FYE Mar 2022Consolidated	¥221bn	+5.4%	¥19bn	+35.9%	8.4%	¥14bn	Matsubara Masaki	—
FYE Mar 2023Consolidated	¥255bn	+15.5%	¥26bn	+40.0%	10.2%	¥13bn	Natsuno Takeshi	Moves to the Prime Market in April; Tsuguhiko arrested in September
FYE Mar 2024Consolidated	¥258bn	+1.0%	¥18bn	−28.8%	7.1%	¥11bn	Natsuno Takeshi	Sales of <span class="en-history_money" data-yen="255400000000" data-year="2023">$1.8B (¥255bn)</span>, the highest since the merger
FYE Mar 2025Consolidated	¥278bn	+7.7%	¥17bn	−9.8%	6.0%	¥7.4bn	Natsuno Takeshi	Ransomware attack on Niconico Douga comes to light on 8 June
FYE Mar 2026Consolidated	¥283bn	+1.8%	¥8.1bn	−51.3%	2.9%	¥1.3bn	Natsuno Takeshi	Sony takes about 10 per cent and becomes the largest shareholder

How it compares

Benesse CorporationDelisted 2024

KADOKAWA¥283bnFY2025Operating margin 2.9%

ASCII CorporationDissolved 2002

GENTOSHA INC.Delisted 2011

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 ¥283bn

CAGR · 10 yrs +3.6%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	206	n/a	Cons. · Japanese GAAP
FYE Mar 2018	207	+0.5%	Cons. · Japanese GAAP
FYE Mar 2019	209	+0.9%	Cons. · Japanese GAAP
FYE Mar 2020	205	−1.9%	Cons. · Japanese GAAP
FYE Mar 2021	210	+2.6%	Cons. · Japanese GAAP
FYE Mar 2022	221	+5.4%	Cons. · Japanese GAAP
FYE Mar 2023	255	+15.5%	Cons. · Japanese GAAP
FYE Mar 2024	258	+1.0%	Cons. · Japanese GAAP
FYE Mar 2025	278	+7.7%	Cons. · Japanese GAAP
FYE Mar 2026	283	+1.8%	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 ¥186bn

CAGR · 10 yrs +2.8%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	146	n/a	Cons. · Japanese GAAP
FYE Mar 2018	153	+4.9%	Cons. · Japanese GAAP
FYE Mar 2019	152	−0.8%	Cons. · Japanese GAAP
FYE Mar 2020	140	−7.8%	Cons. · Japanese GAAP
FYE Mar 2021	136	−2.5%	Cons. · Japanese GAAP
FYE Mar 2022	146	+6.9%	Cons. · Japanese GAAP
FYE Mar 2023	165	+13.0%	Cons. · Japanese GAAP
FYE Mar 2024	171	+4.2%	Cons. · Japanese GAAP
FYE Mar 2025	179	+4.3%	Cons. · Japanese GAAP
FYE Mar 2026	186	+4.1%	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 ¥97bn

CAGR · 10 yrs +5.4%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	60.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	54.0	−10.1%	Cons. · Japanese GAAP
FYE Mar 2019	57.0	+5.6%	Cons. · Japanese GAAP
FYE Mar 2020	64.9	+13.8%	Cons. · Japanese GAAP
FYE Mar 2021	73.7	+13.6%	Cons. · Japanese GAAP
FYE Mar 2022	75.6	+2.6%	Cons. · Japanese GAAP
FYE Mar 2023	90.9	+20.2%	Cons. · Japanese GAAP
FYE Mar 2024	86.6	−4.7%	Cons. · Japanese GAAP
FYE Mar 2025	99.1	+14.4%	Cons. · Japanese GAAP
FYE Mar 2026	96.8	−2.3%	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 ¥89bn

CAGR · 10 yrs +6.2%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	51.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50.8	−1.5%	Cons. · Japanese GAAP
FYE Mar 2019	54.3	+6.8%	Cons. · Japanese GAAP
FYE Mar 2020	56.8	+4.5%	Cons. · Japanese GAAP
FYE Mar 2021	60.1	+5.8%	Cons. · Japanese GAAP
FYE Mar 2022	57.1	−5.0%	Cons. · Japanese GAAP
FYE Mar 2023	64.9	+13.8%	Cons. · Japanese GAAP
FYE Mar 2024	68.2	+5.0%	Cons. · Japanese GAAP
FYE Mar 2025	82.4	+20.9%	Cons. · Japanese GAAP
FYE Mar 2026	88.7	+7.6%	Cons. · Japanese GAAP

Definition: The cost of selling and of running the company
Formula: SG&A line of the income statement
Source: Securities report (XBRL)

Operating profit

FYE Mar 2026 ¥8.1bn

CAGR · 10 yrs −0.4%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.1	−62.7%	Cons. · Japanese GAAP
FYE Mar 2019	2.7	−13.9%	Cons. · Japanese GAAP
FYE Mar 2020	8.1	+198.7%	Cons. · Japanese GAAP
FYE Mar 2021	13.6	+68.5%	Cons. · Japanese GAAP
FYE Mar 2022	18.5	+35.9%	Cons. · Japanese GAAP
FYE Mar 2023	25.9	+40.0%	Cons. · Japanese GAAP
FYE Mar 2024	18.5	−28.8%	Cons. · Japanese GAAP
FYE Mar 2025	16.7	−9.8%	Cons. · Japanese GAAP
FYE Mar 2026	8.1	−51.3%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥3.8bn

CAGR · 10 yrs +20.4%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	0.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.5	+103.1%	Cons. · Japanese GAAP
FYE Mar 2019	1.6	+10.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.1	−29.0%	Cons. · Japanese GAAP
FYE Mar 2021	1.0	−13.0%	Cons. · Japanese GAAP
FYE Mar 2022	3.0	+200.3%	Cons. · Japanese GAAP
FYE Mar 2023	2.6	−14.3%	Cons. · Japanese GAAP
FYE Mar 2024	4.8	+87.2%	Cons. · Japanese GAAP
FYE Mar 2025	3.3	−32.0%	Cons. · Japanese GAAP
FYE Mar 2026	3.8	+16.9%	Cons. · Japanese GAAP

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

Non-operating expenses

FYE Mar 2026 ¥0.2bn

CAGR · 10 yrs −20.4%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.9	−48.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−86.8%	Cons. · Japanese GAAP
FYE Mar 2020	0.4	+280.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.3	−43.4%	Cons. · Japanese GAAP
FYE Mar 2022	1.3	+415.9%	Cons. · Japanese GAAP
FYE Mar 2023	1.8	+40.6%	Cons. · Japanese GAAP
FYE Mar 2024	3.0	+65.3%	Cons. · Japanese GAAP
FYE Mar 2025	2.2	−27.9%	Cons. · Japanese GAAP
FYE Mar 2026	0.2	−89.8%	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 ¥12bn

CAGR · 10 yrs +5.2%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	7.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.7	−49.8%	Cons. · Japanese GAAP
FYE Mar 2019	4.2	+13.2%	Cons. · Japanese GAAP
FYE Mar 2020	8.8	+109.0%	Cons. · Japanese GAAP
FYE Mar 2021	14.4	+63.5%	Cons. · Japanese GAAP
FYE Mar 2022	20.2	+40.7%	Cons. · Japanese GAAP
FYE Mar 2023	26.7	+31.9%	Cons. · Japanese GAAP
FYE Mar 2024	20.2	−24.1%	Cons. · Japanese GAAP
FYE Mar 2025	17.7	−12.3%	Cons. · Japanese GAAP
FYE Mar 2026	11.7	−34.0%	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 ¥2.0bn

CAGR · 10 yrs +52.4%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.6	+1259.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.1	−83.3%	Cons. · Japanese GAAP
FYE Mar 2020	3.7	+3608.0%	Cons. · Japanese GAAP
FYE Mar 2021	0.9	−75.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.2	−79.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.1	−67.4%	Cons. · Japanese GAAP
FYE Mar 2024	2.6	+4059.7%	Cons. · Japanese GAAP
FYE Mar 2025	3.0	+17.5%	Cons. · Japanese GAAP
FYE Mar 2026	2.0	−35.6%	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 ¥1.3bn

CAGR · 10 yrs −15.4%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	−82.0%	Cons. · Japanese GAAP
FYE Mar 2019	-4.1	−493.5%	Cons. · Japanese GAAP
FYE Mar 2020	8.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	9.6	+18.4%	Cons. · Japanese GAAP
FYE Mar 2022	14.1	+46.9%	Cons. · Japanese GAAP
FYE Mar 2023	12.7	−9.9%	Cons. · Japanese GAAP
FYE Mar 2024	11.4	−10.2%	Cons. · Japanese GAAP
FYE Mar 2025	7.4	−35.1%	Cons. · Japanese GAAP
FYE Mar 2026	1.3	−82.7%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 34.2%

Average · 10 yrs 32.3%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	29.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	26.1	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2019	27.3	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	31.7	+4.4pp	Cons. · Japanese GAAP
FYE Mar 2021	35.1	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2022	34.2	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	35.6	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	33.6	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2025	35.6	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2026	34.2	−1.4pp	Cons. · Japanese GAAP

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

Operating margin

FYE Mar 2026 2.9%

Average · 10 yrs 5.2%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	4.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.5	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2019	1.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	4.0	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2021	6.5	+2.5pp	Cons. · Japanese GAAP
FYE Mar 2022	8.4	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2023	10.2	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2024	7.1	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2025	6.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	2.9	−3.1pp	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 4.1%

Average · 10 yrs 5.6%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.8	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2019	2.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	4.3	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2021	6.8	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	9.1	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	10.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2024	7.8	−2.6pp	Cons. · Japanese GAAP
FYE Mar 2025	6.4	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	4.1	−2.2pp	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 0.5%

Average · 10 yrs 2.9%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.5	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2019	-2.0	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2020	4.0	+5.9pp	Cons. · Japanese GAAP
FYE Mar 2021	4.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	6.4	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2023	5.0	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	4.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	2.7	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	0.5	−2.2pp	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 65.8%

Average · 10 yrs 67.7%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	70.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	73.9	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2019	72.7	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	68.3	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2021	64.9	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2022	65.8	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	64.4	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	66.4	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2025	64.4	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2026	65.8	+1.4pp	Cons. · Japanese GAAP

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

SG&A ratio

FYE Mar 2026 31.3%

Average · 10 yrs 27.1%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	25.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	24.6	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	26.0	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	27.7	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2021	28.6	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2022	25.8	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2023	25.4	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	26.4	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2025	29.7	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2026	31.3	+1.7pp	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 ¥395bn

CAGR · 10 yrs +5.4%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	247	n/a	Cons. · Japanese GAAP
FYE Mar 2018	240	−2.9%	Cons. · Japanese GAAP
FYE Mar 2019	240	+0.1%	Cons. · Japanese GAAP
FYE Mar 2020	243	+1.2%	Cons. · Japanese GAAP
FYE Mar 2021	270	+11.0%	Cons. · Japanese GAAP
FYE Mar 2022	325	+20.6%	Cons. · Japanese GAAP
FYE Mar 2023	383	+17.7%	Cons. · Japanese GAAP
FYE Mar 2024	340	−11.1%	Cons. · Japanese GAAP
FYE Mar 2025	410	+20.5%	Cons. · Japanese GAAP
FYE Mar 2026	395	−3.7%	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 ¥248bn

CAGR · 10 yrs +9.5%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	110	n/a	Cons. · Japanese GAAP
FYE Mar 2018	107	−2.5%	Cons. · Japanese GAAP
FYE Mar 2019	101	−5.4%	Cons. · Japanese GAAP
FYE Mar 2020	105	+3.9%	Cons. · Japanese GAAP
FYE Mar 2021	127	+20.9%	Cons. · Japanese GAAP
FYE Mar 2022	172	+35.0%	Cons. · Japanese GAAP
FYE Mar 2023	203	+17.8%	Cons. · Japanese GAAP
FYE Mar 2024	191	−5.9%	Cons. · Japanese GAAP
FYE Mar 2025	252	+32.3%	Cons. · Japanese GAAP
FYE Mar 2026	248	−1.7%	Cons. · Japanese GAAP

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

Interest-bearing debt

FYE Mar 2026 ¥0.8bn

CAGR · 10 yrs −38.9%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	65.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50.6	−22.7%	Cons. · Japanese GAAP
FYE Mar 2019	65.4	+29.4%	Cons. · Japanese GAAP
FYE Mar 2020	65.5	+0.1%	Cons. · Japanese GAAP
FYE Mar 2021	55.5	−15.4%	Cons. · Japanese GAAP
FYE Mar 2022	65.3	+17.7%	Cons. · Japanese GAAP
FYE Mar 2023	65.3	−0.0%	Cons. · Japanese GAAP
FYE Mar 2024	25.3	−61.2%	Cons. · Japanese GAAP
FYE Mar 2025	11.4	−55.0%	Cons. · Japanese GAAP
FYE Mar 2026	0.8	−93.2%	Cons. · Japanese GAAP

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

Short-term borrowings

FYE Mar 2026 ¥0.1bn

CAGR · 10 yrs −14.7%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.5	+5.0%	Cons. · Japanese GAAP
FYE Mar 2019	0.4	−20.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.5	+30.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.5	−12.4%	Cons. · Japanese GAAP
FYE Mar 2022	0.3	−38.3%	Cons. · Japanese GAAP
FYE Mar 2023	40.0	+14050.5%	Cons. · Japanese GAAP
FYE Mar 2024	0.2	−99.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.5	+153.4%	Cons. · Japanese GAAP
FYE Mar 2026	0.1	−74.5%	Cons. · Japanese GAAP

Definition: Borrowings repayable within a year
Formula: Short-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Long-term borrowings

FYE Mar 2026 ¥0.7bn

CAGR · 10 yrs −40.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	64.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50.1	−22.9%	Cons. · Japanese GAAP
FYE Mar 2019	65.0	+29.9%	Cons. · Japanese GAAP
FYE Mar 2020	65.0	−0.1%	Cons. · Japanese GAAP
FYE Mar 2021	55.0	−15.4%	Cons. · Japanese GAAP
FYE Mar 2022	65.0	+18.2%	Cons. · Japanese GAAP
FYE Mar 2023	25.2	−61.2%	Cons. · Japanese GAAP
FYE Mar 2024	25.2	−0.2%	Cons. · Japanese GAAP
FYE Mar 2025	10.9	−56.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.7	−94.0%	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 ¥23bn

CAGR · 10 yrs +12.1%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.8	+5.0%	Cons. · Japanese GAAP
FYE Mar 2019	6.5	−26.4%	Cons. · Japanese GAAP
FYE Mar 2020	6.0	−7.0%	Cons. · Japanese GAAP
FYE Mar 2021	7.0	+15.8%	Cons. · Japanese GAAP
FYE Mar 2022	7.3	+4.4%	Cons. · Japanese GAAP
FYE Mar 2023	8.9	+22.2%	Cons. · Japanese GAAP
FYE Mar 2024	13.7	+53.6%	Cons. · Japanese GAAP
FYE Mar 2025	20.5	+50.0%	Cons. · Japanese GAAP
FYE Mar 2026	23.4	+14.2%	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 ¥5.9bn

CAGR · 10 yrs +22.9%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.1	+14.1%	Cons. · Japanese GAAP
FYE Mar 2019	0.6	−47.8%	Cons. · Japanese GAAP
FYE Mar 2020	0.5	−17.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.4	−20.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.4	+18.5%	Cons. · Japanese GAAP
FYE Mar 2023	0.7	+59.4%	Cons. · Japanese GAAP
FYE Mar 2024	1.7	+153.5%	Cons. · Japanese GAAP
FYE Mar 2025	5.3	+207.6%	Cons. · Japanese GAAP
FYE Mar 2026	5.9	+11.2%	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 62.8%

Average · 10 yrs 50.8%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	44.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	44.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	42.2	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2020	43.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	47.2	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2022	52.8	+5.6pp	Cons. · Japanese GAAP
FYE Mar 2023	52.9	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	56.0	+3.1pp	Cons. · Japanese GAAP
FYE Mar 2025	61.5	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2026	62.8	+1.3pp	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 0.3%

Average · 10 yrs 36.5%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	59.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	47.2	−12.3pp	Cons. · Japanese GAAP
FYE Mar 2019	64.6	+17.4pp	Cons. · Japanese GAAP
FYE Mar 2020	62.2	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2021	43.6	−18.7pp	Cons. · Japanese GAAP
FYE Mar 2022	38.0	−5.6pp	Cons. · Japanese GAAP
FYE Mar 2023	32.2	−5.8pp	Cons. · Japanese GAAP
FYE Mar 2024	13.3	−18.9pp	Cons. · Japanese GAAP
FYE Mar 2025	4.5	−8.8pp	Cons. · Japanese GAAP
FYE Mar 2026	0.3	−4.2pp	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 0.5%

Average · 10 yrs 4.1%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	5.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2019	-4.0	−5.0pp	Cons. · Japanese GAAP
FYE Mar 2020	7.7	+11.7pp	Cons. · Japanese GAAP
FYE Mar 2021	7.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	8.2	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2023	6.3	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	6.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	2.9	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2026	0.5	−2.4pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 0.3%

Average · 10 yrs 2.1%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.4	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2019	-1.7	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2020	3.3	+5.0pp	Cons. · Japanese GAAP
FYE Mar 2021	3.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	4.3	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	3.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2024	3.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	1.8	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2026	0.3	−1.5pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.72×

CAGR · 10 yrs −1.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.83	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.86	+3.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.87	+0.8%	Cons. · Japanese GAAP
FYE Mar 2020	0.84	−3.1%	Cons. · Japanese GAAP
FYE Mar 2021	0.78	−7.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.68	−12.7%	Cons. · Japanese GAAP
FYE Mar 2023	0.67	−1.9%	Cons. · Japanese GAAP
FYE Mar 2024	0.76	+13.7%	Cons. · Japanese GAAP
FYE Mar 2025	0.68	−10.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.72	+5.7%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥3.4bn

CAGR · 10 yrs −13.0%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	12.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.6	−86.6%	Cons. · Japanese GAAP
FYE Mar 2019	5.9	+264.7%	Cons. · Japanese GAAP
FYE Mar 2020	16.5	+181.7%	Cons. · Japanese GAAP
FYE Mar 2021	15.6	−5.6%	Cons. · Japanese GAAP
FYE Mar 2022	21.7	+39.3%	Cons. · Japanese GAAP
FYE Mar 2023	17.5	−19.3%	Cons. · Japanese GAAP
FYE Mar 2024	8.3	−52.6%	Cons. · Japanese GAAP
FYE Mar 2025	13.8	+66.8%	Cons. · Japanese GAAP
FYE Mar 2026	3.4	−75.3%	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 -¥21bn

Average · 10 yrs -¥13bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-10.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-18.8	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-13.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-29.9	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-5.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-16.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-8.4	−341.6%	Cons. · Japanese GAAP
FYE Mar 2026	-21.0	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 -¥22bn

Average · 10 yrs ¥4.3bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	37.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-6.4	−117.3%	Cons. · Japanese GAAP
FYE Mar 2019	-4.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-4.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	26.7	+236.4%	Cons. · Japanese GAAP
FYE Mar 2023	30.7	+15.1%	Cons. · Japanese GAAP
FYE Mar 2024	-65.8	−314.1%	Cons. · Japanese GAAP
FYE Mar 2025	44.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-22.4	−150.8%	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 ¥91bn

CAGR · 10 yrs −0.0%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	91.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	67.4	−26.0%	Cons. · Japanese GAAP
FYE Mar 2019	56.1	−16.7%	Cons. · Japanese GAAP
FYE Mar 2020	38.2	−32.0%	Cons. · Japanese GAAP
FYE Mar 2021	55.9	+46.5%	Cons. · Japanese GAAP
FYE Mar 2022	97.6	+74.6%	Cons. · Japanese GAAP
FYE Mar 2023	131	+34.6%	Cons. · Japanese GAAP
FYE Mar 2024	79.8	−39.2%	Cons. · Japanese GAAP
FYE Mar 2025	130	+62.4%	Cons. · Japanese GAAP
FYE Mar 2026	90.8	−30.0%	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 -¥18bn

Average · 10 yrs -¥1.2bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-17.2	−1190.0%	Cons. · Japanese GAAP
FYE Mar 2019	-7.2	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-13.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	9.7	n/a	Cons. · Japanese GAAP
FYE Mar 2022	13.8	+42.6%	Cons. · Japanese GAAP
FYE Mar 2023	1.3	−90.9%	Cons. · Japanese GAAP
FYE Mar 2024	11.8	+838.1%	Cons. · Japanese GAAP
FYE Mar 2025	5.4	−54.2%	Cons. · Japanese GAAP
FYE Mar 2026	-17.6	−426.2%	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 1.2%

Average · 10 yrs 5.1%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.8	−5.0pp	Cons. · Japanese GAAP
FYE Mar 2019	2.8	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2020	8.1	+5.3pp	Cons. · Japanese GAAP
FYE Mar 2021	7.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	9.8	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2023	6.9	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2024	3.2	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2025	5.0	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	1.2	−3.8pp	Cons. · Japanese GAAP

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

Net cash

FYE Mar 2026 ¥90bn

CAGR · 10 yrs +14.9%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	25.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.9	−34.5%	Cons. · Japanese GAAP
FYE Mar 2019	-9.3	−155.3%	Cons. · Japanese GAAP
FYE Mar 2020	-27.4	n/a	Cons. · Japanese GAAP
FYE Mar 2021	0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2022	32.3	+7445.8%	Cons. · Japanese GAAP
FYE Mar 2023	66.1	+104.7%	Cons. · Japanese GAAP
FYE Mar 2024	54.5	−17.6%	Cons. · Japanese GAAP
FYE Mar 2025	118	+117.1%	Cons. · Japanese GAAP
FYE Mar 2026	90.0	−23.9%	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 ¥566bn

Change · 9 yrs +¥453bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	113	n/a
FYE Mar 2018	78.6	n/a
FYE Mar 2019	n/a	n/a
FYE Mar 2020	96.6	n/a
FYE Mar 2021	304	n/a
FYE Mar 2022	457	n/a
FYE Mar 2023	400	n/a
FYE Mar 2024	376	n/a
FYE Mar 2025	530	n/a
FYE Mar 2026	566	n/a

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

Share price year-end close

FYE Mar 2026 3,798¥

Change · 9 yrs +2,202¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,596	n/a
FYE Mar 2018	1,109	n/a
FYE Mar 2019	n/a	n/a
FYE Mar 2020	1,362	n/a
FYE Mar 2021	4,295	n/a
FYE Mar 2022	3,220	n/a
FYE Mar 2023	2,818	n/a
FYE Mar 2024	2,652	n/a
FYE Mar 2025	3,554	n/a
FYE Mar 2026	3,798	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 148,990,000shares

Change · 10 yrs +78,098,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	70,892,000	Parent
FYE Mar 2018	70,892,000	Parent
FYE Mar 2019	70,892,000	Parent
FYE Mar 2020	70,892,000	Parent
FYE Mar 2021	70,892,000	Parent
FYE Mar 2022	141,784,000	Parent
FYE Mar 2023	141,784,000	Parent
FYE Mar 2024	141,784,000	Parent
FYE Mar 2025	148,990,000	Parent
FYE Mar 2026	148,990,000	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 8.71¥

Change · 10 yrs −76.32¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	85.03	Cons.
FYE Mar 2018	7.76	Cons.
FYE Mar 2019	-31.97	Cons.
FYE Mar 2020	65.06	Cons.
FYE Mar 2021	77.42	Cons.
FYE Mar 2022	105.96	Cons.
FYE Mar 2023	90.91	Cons.
FYE Mar 2024	83.42	Cons.
FYE Mar 2025	53.87	Cons.
FYE Mar 2026	8.71	Cons.

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

BPS book value per share

FYE Mar 2026 1,664.81¥

Change · 10 yrs +114.45¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,550.36	Cons. · Japanese GAAP
FYE Mar 2018	1,511.26	Cons. · Japanese GAAP
FYE Mar 2019	1,429.51	Cons. · Japanese GAAP
FYE Mar 2020	1,485.40	Cons. · Japanese GAAP
FYE Mar 2021	1,796.28	Cons. · Japanese GAAP
FYE Mar 2022	1,212.41	Cons. · Japanese GAAP
FYE Mar 2023	1,428.57	Cons. · Japanese GAAP
FYE Mar 2024	1,344.25	Cons. · Japanese GAAP
FYE Mar 2025	1,692.84	Cons. · Japanese GAAP
FYE Mar 2026	1,664.81	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 436.06×

Average · 9 yrs 80.40×

Fiscal year	PER ×	Basis
FYE Mar 2017	18.77	Cons.
FYE Mar 2018	71.43	Cons.
FYE Mar 2019	n/a	Cons.
FYE Mar 2020	10.47	Cons.
FYE Mar 2021	27.74	Cons.
FYE Mar 2022	30.39	Cons.
FYE Mar 2023	31.00	Cons.
FYE Mar 2024	31.79	Cons.
FYE Mar 2025	65.98	Cons.
FYE Mar 2026	436.06	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 2.28×

Average · 9 yrs 1.71×

Fiscal year	PBR ×	Basis
FYE Mar 2017	0.99	Cons.
FYE Mar 2018	0.68	Cons.
FYE Mar 2019	n/a	Cons.
FYE Mar 2020	0.80	Cons.
FYE Mar 2021	2.17	Cons.
FYE Mar 2022	2.61	Cons.
FYE Mar 2023	1.94	Cons.
FYE Mar 2024	1.87	Cons.
FYE Mar 2025	2.09	Cons.
FYE Mar 2026	2.28	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 7,332people

Change · 10 yrs +3,153 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	4,179	n/a	Cons.
FYE Mar 2018	4,330	+3.6%	Cons.
FYE Mar 2019	4,546	+5.0%	Cons.
FYE Mar 2020	4,492	−1.2%	Cons.
FYE Mar 2021	4,910	+9.3%	Cons.
FYE Mar 2022	5,349	+8.9%	Cons.
FYE Mar 2023	5,856	+9.5%	Cons.
FYE Mar 2024	6,269	+7.1%	Cons.
FYE Mar 2025	6,967	+11.1%	Cons.
FYE Mar 2026	7,332	+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 2,471people

Change · 10 yrs +2,209 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	262	n/a	Parent
FYE Mar 2018	163	−37.8%	Parent
FYE Mar 2019	158	−3.1%	Parent
FYE Mar 2020	1,585	+903.2%	Parent
FYE Mar 2021	1,710	+7.9%	Parent
FYE Mar 2022	1,860	+8.8%	Parent
FYE Mar 2023	1,998	+7.4%	Parent
FYE Mar 2024	2,164	+8.3%	Parent
FYE Mar 2025	2,343	+8.3%	Parent
FYE Mar 2026	2,471	+5.5%	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 ¥8.7m

Change · 10 yrs +¥0.7m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	8.0	n/a	Parent
FYE Mar 2018	7.9	−1.3%	Parent
FYE Mar 2019	7.9	−0.4%	Parent
FYE Mar 2020	8.3	+5.4%	Parent
FYE Mar 2021	8.4	+0.9%	Parent
FYE Mar 2022	8.2	−2.2%	Parent
FYE Mar 2023	8.6	+4.2%	Parent
FYE Mar 2024	8.9	+3.3%	Parent
FYE Mar 2025	8.9	−0.0%	Parent
FYE Mar 2026	8.7	−1.5%	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 41.6years

Change · 10 yrs +0.3 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	41.3	n/a	Parent
FYE Mar 2018	41.0	−0.7%	Parent
FYE Mar 2019	42.7	+4.1%	Parent
FYE Mar 2020	42.1	−1.4%	Parent
FYE Mar 2021	42.2	+0.2%	Parent
FYE Mar 2022	42.1	−0.2%	Parent
FYE Mar 2023	41.9	−0.5%	Parent
FYE Mar 2024	41.6	−0.7%	Parent
FYE Mar 2025	41.3	−0.7%	Parent
FYE Mar 2026	41.6	+0.7%	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 4.8years

Change · 10 yrs +2.6 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	2.2	n/a	Parent
FYE Mar 2018	3.0	+36.4%	Parent
FYE Mar 2019	3.9	+30.0%	Parent
FYE Mar 2020	0.7	−82.1%	Parent
FYE Mar 2021	1.6	+128.6%	Parent
FYE Mar 2022	2.3	+43.7%	Parent
FYE Mar 2023	3.1	+34.8%	Parent
FYE Mar 2024	3.7	+19.4%	Parent
FYE Mar 2025	4.2	+13.5%	Parent
FYE Mar 2026	4.8	+14.3%	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 3,145people

Change · 10 yrs +1,133 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	2,012	n/a	n/a
FYE Mar 2018	2,046	+1.7%	n/a
FYE Mar 2019	2,141	+4.6%	n/a
FYE Mar 2020	2,097	−2.1%	n/a
FYE Mar 2021	2,162	+3.1%	n/a
FYE Mar 2022	2,229	+3.1%	n/a
FYE Mar 2023	2,632	+18.1%	n/a
FYE Mar 2024	2,798	+6.3%	n/a
FYE Mar 2025	3,197	+14.3%	n/a
FYE Mar 2026	3,145	−1.6%	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 ¥38.6m

Change · 10 yrs −¥10.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	49.2	n/a	Cons.
FYE Mar 2018	47.8	−3.0%	Cons.
FYE Mar 2019	45.9	−3.9%	Cons.
FYE Mar 2020	45.6	−0.7%	Cons.
FYE Mar 2021	42.8	−6.1%	Cons.
FYE Mar 2022	41.4	−3.3%	Cons.
FYE Mar 2023	43.6	+5.5%	Cons.
FYE Mar 2024	41.2	−5.6%	Cons.
FYE Mar 2025	39.9	−3.1%	Cons.
FYE Mar 2026	38.6	−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 ¥1.1m

Change · 10 yrs −¥0.9m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.0	n/a	Cons.
FYE Mar 2018	0.7	−64.0%	Cons.
FYE Mar 2019	0.6	−18.0%	Cons.
FYE Mar 2020	1.8	+202.3%	Cons.
FYE Mar 2021	2.8	+54.1%	Cons.
FYE Mar 2022	3.5	+24.8%	Cons.
FYE Mar 2023	4.4	+27.9%	Cons.
FYE Mar 2024	2.9	−33.5%	Cons.
FYE Mar 2025	2.4	−18.8%	Cons.
FYE Mar 2026	1.1	−53.8%	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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