Financials

Tohoku Electric Power: FYE Mar 2026 and ten years of results (46 metrics)

FYE Mar 2026 · Revenue¥2.37tnYoY −10.3%

FYE Mar 2026 · Operating profit¥160bnYoY −42.8%

FYE Mar 2026 · Net profit¥85bnYoY −53.5%

FYE Mar 2026 · Equity ratio19.4%YoY +1.1pp

FYE Mar 2026 · Group employees18,403YoY +25

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.95tn	n/a	¥130bn	n/a	6.7%	¥70bn	Harada Hiroya	—
FYE Mar 2018Consolidated	¥2.07tn	+6.2%	¥108bn	−17.4%	5.2%	¥47bn	Harada Hiroya	—
FYE Mar 2019Consolidated	¥2.24tn	+8.3%	¥84bn	−22.3%	3.7%	¥46bn	Harada Hiroya	—
FYE Mar 2020Consolidated	¥2.25tn	+0.1%	¥116bn	+39.1%	5.2%	¥63bn	Harada Hiroya	—
FYE Mar 2021Consolidated	¥2.29tn	+1.8%	¥88bn	−24.4%	3.8%	¥29bn	Harada Hiroya	Grid legally separated as Tohoku Electric Power Network
FYE Mar 2022Consolidated	¥2.10tn	−8.0%	-¥29bn	−132.7%	-1.4%	-¥108bn	Higuchi Kojiro	—
FYE Mar 2023Consolidated	¥3.01tn	+42.9%	-¥180bn	n/a	-6.0%	-¥128bn	Higuchi Kojiro	—
FYE Mar 2024Consolidated	¥2.82tn	−6.3%	¥322bn	n/a	11.4%	¥226bn	Higuchi Kojiro	—
FYE Mar 2025Consolidated	¥2.64tn	−6.1%	¥280bn	−13.0%	10.6%	¥183bn	Higuchi Kojiro	Onagawa unit 2 restarts after ¥570bn of safety works
FYE Mar 2026Consolidated	¥2.37tn	−10.3%	¥160bn	−42.8%	6.8%	¥85bn	Higuchi Kojiro	—

How it compares

TEPCO¥6.33tnFY2025Operating margin 5.3%Kansai Electric Power¥4.06tnFY2025Operating margin 10.8%Chubu Electric Power¥3.55tnFY2025Operating margin 6.5%

Tohoku Electric Power¥2.37tnFY2025Operating margin 6.8%

Kyushu Electric Power¥2.25tnFY2025Operating margin 10.0%

The Chugoku Electric Power Company, Incorporated¥1.44tnFY2025Operating margin 6.3%

J-Power¥1.18tnFY2025Operating margin 8.5%Hokkaido Electric Power¥856bnFY2025Operating margin 8.6%

Hokuriku Electric Power¥787bnFY2025Operating margin 11.1%

Shikoku Electric Power¥762bnFY2025Operating margin 8.9%

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 ¥2.37tn

CAGR · 10 yrs +2.2%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,950	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,071	+6.2%	Cons. · Japanese GAAP
FYE Mar 2019	2,244	+8.3%	Cons. · Japanese GAAP
FYE Mar 2020	2,246	+0.1%	Cons. · Japanese GAAP
FYE Mar 2021	2,287	+1.8%	Cons. · Japanese GAAP
FYE Mar 2022	2,104	−8.0%	Cons. · Japanese GAAP
FYE Mar 2023	3,007	+42.9%	Cons. · Japanese GAAP
FYE Mar 2024	2,818	−6.3%	Cons. · Japanese GAAP
FYE Mar 2025	2,645	−6.1%	Cons. · Japanese GAAP
FYE Mar 2026	2,372	−10.3%	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 ¥2.21tn

CAGR · 10 yrs +2.2%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,819	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,964	+7.9%	Cons. · Japanese GAAP
FYE Mar 2019	2,161	+10.0%	Cons. · Japanese GAAP
FYE Mar 2020	2,130	−1.4%	Cons. · Japanese GAAP
FYE Mar 2021	2,199	+3.2%	Cons. · Japanese GAAP
FYE Mar 2022	2,133	−3.0%	Cons. · Japanese GAAP
FYE Mar 2023	3,187	+49.4%	Cons. · Japanese GAAP
FYE Mar 2024	2,496	−21.7%	Cons. · Japanese GAAP
FYE Mar 2025	2,365	−5.2%	Cons. · Japanese GAAP
FYE Mar 2026	2,212	−6.5%	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 ¥160bn

CAGR · 10 yrs +2.3%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	130	n/a	Cons. · Japanese GAAP
FYE Mar 2018	108	−17.4%	Cons. · Japanese GAAP
FYE Mar 2019	83.6	−22.3%	Cons. · Japanese GAAP
FYE Mar 2020	116	+39.1%	Cons. · Japanese GAAP
FYE Mar 2021	87.9	−24.4%	Cons. · Japanese GAAP
FYE Mar 2022	-28.7	−132.7%	Cons. · Japanese GAAP
FYE Mar 2023	-180	n/a	Cons. · Japanese GAAP
FYE Mar 2024	322	n/a	Cons. · Japanese GAAP
FYE Mar 2025	280	−13.0%	Cons. · Japanese GAAP
FYE Mar 2026	160	−42.8%	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 ¥0.0m

Average · 9 yrs ¥0.4m

Fiscal year	SG&A ¥ m	YoY	Basis
FYE Mar 2017	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2019	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2020	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2021	1.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2026	0.0	n/a	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 ¥160bn

CAGR · 10 yrs +2.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	130	n/a	Cons. · Japanese GAAP
FYE Mar 2018	108	−17.4%	Cons. · Japanese GAAP
FYE Mar 2019	83.6	−22.3%	Cons. · Japanese GAAP
FYE Mar 2020	116	+39.1%	Cons. · Japanese GAAP
FYE Mar 2021	87.9	−24.4%	Cons. · Japanese GAAP
FYE Mar 2022	-28.7	−132.7%	Cons. · Japanese GAAP
FYE Mar 2023	-180	n/a	Cons. · Japanese GAAP
FYE Mar 2024	322	n/a	Cons. · Japanese GAAP
FYE Mar 2025	280	−13.0%	Cons. · Japanese GAAP
FYE Mar 2026	160	−42.8%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥12bn

CAGR · 10 yrs +7.8%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	6.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.4	+1.6%	Cons. · Japanese GAAP
FYE Mar 2019	6.8	+7.6%	Cons. · Japanese GAAP
FYE Mar 2020	8.7	+27.5%	Cons. · Japanese GAAP
FYE Mar 2021	6.1	−30.0%	Cons. · Japanese GAAP
FYE Mar 2022	5.6	−8.8%	Cons. · Japanese GAAP
FYE Mar 2023	7.7	+37.4%	Cons. · Japanese GAAP
FYE Mar 2024	9.6	+25.9%	Cons. · Japanese GAAP
FYE Mar 2025	10.7	+11.4%	Cons. · Japanese GAAP
FYE Mar 2026	12.3	+14.7%	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 ¥46bn

CAGR · 10 yrs +4.2%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	32.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.6	−20.0%	Cons. · Japanese GAAP
FYE Mar 2019	24.7	−3.4%	Cons. · Japanese GAAP
FYE Mar 2020	25.1	+1.5%	Cons. · Japanese GAAP
FYE Mar 2021	26.5	+5.6%	Cons. · Japanese GAAP
FYE Mar 2022	26.0	−1.8%	Cons. · Japanese GAAP
FYE Mar 2023	26.9	+3.2%	Cons. · Japanese GAAP
FYE Mar 2024	40.0	+48.7%	Cons. · Japanese GAAP
FYE Mar 2025	34.4	−14.0%	Cons. · Japanese GAAP
FYE Mar 2026	46.3	+34.8%	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 ¥126bn

CAGR · 10 yrs +2.1%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	105	n/a	Cons. · Japanese GAAP
FYE Mar 2018	88.4	−15.5%	Cons. · Japanese GAAP
FYE Mar 2019	65.7	−25.7%	Cons. · Japanese GAAP
FYE Mar 2020	100.0	+52.1%	Cons. · Japanese GAAP
FYE Mar 2021	67.5	−32.5%	Cons. · Japanese GAAP
FYE Mar 2022	-49.2	−172.9%	Cons. · Japanese GAAP
FYE Mar 2023	-199	n/a	Cons. · Japanese GAAP
FYE Mar 2024	292	n/a	Cons. · Japanese GAAP
FYE Mar 2025	257	−12.1%	Cons. · Japanese GAAP
FYE Mar 2026	126	−50.8%	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 loss

FYE Mar 2026 ¥7.6bn

CAGR · 5 yrs +37.2%

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	2.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	6.2	+189.0%	Cons. · Japanese GAAP
FYE Mar 2021	13.0	+110.2%	Cons. · Japanese GAAP
FYE Mar 2022	26.5	+103.3%	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	7.6	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 ¥85bn

CAGR · 10 yrs +2.2%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	69.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	47.2	−32.5%	Cons. · Japanese GAAP
FYE Mar 2019	46.5	−1.6%	Cons. · Japanese GAAP
FYE Mar 2020	63.1	+35.7%	Cons. · Japanese GAAP
FYE Mar 2021	29.4	−53.4%	Cons. · Japanese GAAP
FYE Mar 2022	-108	−468.8%	Cons. · Japanese GAAP
FYE Mar 2023	-128	n/a	Cons. · Japanese GAAP
FYE Mar 2024	226	n/a	Cons. · Japanese GAAP
FYE Mar 2025	183	−19.1%	Cons. · Japanese GAAP
FYE Mar 2026	85.0	−53.5%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 6.8%

Average · 10 yrs 4.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.2	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	3.7	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	5.2	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	3.8	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	-1.4	−5.2pp	Cons. · Japanese GAAP
FYE Mar 2023	-6.0	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2024	11.4	+17.4pp	Cons. · Japanese GAAP
FYE Mar 2025	10.6	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	6.8	−3.8pp	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 6.8%

Average · 10 yrs 4.6%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.2	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	3.7	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	5.2	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	3.8	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	-1.4	−5.2pp	Cons. · Japanese GAAP
FYE Mar 2023	-6.0	−4.6pp	Cons. · Japanese GAAP
FYE Mar 2024	11.4	+17.4pp	Cons. · Japanese GAAP
FYE Mar 2025	10.6	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	6.8	−3.8pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Mar 2026 5.3%

Average · 10 yrs 3.6%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	5.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.3	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2019	2.9	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2020	4.5	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	3.0	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2022	-2.3	−5.3pp	Cons. · Japanese GAAP
FYE Mar 2023	-6.6	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2024	10.4	+17.0pp	Cons. · Japanese GAAP
FYE Mar 2025	9.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	5.3	−4.4pp	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 3.6%

Average · 10 yrs 2.1%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.3	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	2.1	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	2.8	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	1.3	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2022	-5.1	−6.4pp	Cons. · Japanese GAAP
FYE Mar 2023	-4.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	8.0	+12.3pp	Cons. · Japanese GAAP
FYE Mar 2025	6.9	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2026	3.6	−3.3pp	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 93.2%

Average · 10 yrs 95.4%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	93.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	94.8	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	96.3	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2020	94.8	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	96.2	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	101.4	+5.2pp	Cons. · Japanese GAAP
FYE Mar 2023	106.0	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2024	88.6	−17.4pp	Cons. · Japanese GAAP
FYE Mar 2025	89.4	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	93.2	+3.8pp	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 0.0%

Average · 9 yrs 0.0%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2021	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	0.0	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2026	0.0	−0.0pp	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 ¥5.73tn

CAGR · 10 yrs +3.7%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	4,146	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4,222	+1.8%	Cons. · Japanese GAAP
FYE Mar 2019	4,259	+0.9%	Cons. · Japanese GAAP
FYE Mar 2020	4,323	+1.5%	Cons. · Japanese GAAP
FYE Mar 2021	4,471	+3.4%	Cons. · Japanese GAAP
FYE Mar 2022	4,726	+5.7%	Cons. · Japanese GAAP
FYE Mar 2023	5,212	+10.3%	Cons. · Japanese GAAP
FYE Mar 2024	5,389	+3.4%	Cons. · Japanese GAAP
FYE Mar 2025	5,398	+0.2%	Cons. · Japanese GAAP
FYE Mar 2026	5,732	+6.2%	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 ¥1.11tn

CAGR · 10 yrs +5.3%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	696	n/a	Cons. · Japanese GAAP
FYE Mar 2018	731	+5.1%	Cons. · Japanese GAAP
FYE Mar 2019	763	+4.4%	Cons. · Japanese GAAP
FYE Mar 2020	792	+3.8%	Cons. · Japanese GAAP
FYE Mar 2021	826	+4.3%	Cons. · Japanese GAAP
FYE Mar 2022	700	−15.3%	Cons. · Japanese GAAP
FYE Mar 2023	549	−21.5%	Cons. · Japanese GAAP
FYE Mar 2024	828	+50.8%	Cons. · Japanese GAAP
FYE Mar 2025	985	+19.0%	Cons. · Japanese GAAP
FYE Mar 2026	1,111	+12.8%	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 ¥1.49tn

CAGR · 10 yrs +1.0%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	1,368	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,236	−9.7%	Cons. · Japanese GAAP
FYE Mar 2019	1,217	−1.5%	Cons. · Japanese GAAP
FYE Mar 2020	1,190	−2.2%	Cons. · Japanese GAAP
FYE Mar 2021	1,118	−6.1%	Cons. · Japanese GAAP
FYE Mar 2022	1,195	+6.9%	Cons. · Japanese GAAP
FYE Mar 2023	1,499	+25.5%	Cons. · Japanese GAAP
FYE Mar 2024	1,384	−7.7%	Cons. · Japanese GAAP
FYE Mar 2025	1,353	−2.2%	Cons. · Japanese GAAP
FYE Mar 2026	1,494	+10.4%	Cons. · Japanese GAAP

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

Long-term borrowings

FYE Mar 2026 ¥1.49tn

CAGR · 10 yrs +1.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	1,368	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,236	−9.7%	Cons. · Japanese GAAP
FYE Mar 2019	1,217	−1.5%	Cons. · Japanese GAAP
FYE Mar 2020	1,190	−2.2%	Cons. · Japanese GAAP
FYE Mar 2021	1,118	−6.1%	Cons. · Japanese GAAP
FYE Mar 2022	1,195	+6.9%	Cons. · Japanese GAAP
FYE Mar 2023	1,499	+25.5%	Cons. · Japanese GAAP
FYE Mar 2024	1,384	−7.7%	Cons. · Japanese GAAP
FYE Mar 2025	1,353	−2.2%	Cons. · Japanese GAAP
FYE Mar 2026	1,494	+10.4%	Cons. · Japanese GAAP

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

Equity ratio

FYE Mar 2026 19.4%

Average · 10 yrs 16.7%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	16.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	17.9	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	18.3	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	18.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	14.8	−3.7pp	Cons. · Japanese GAAP
FYE Mar 2023	10.5	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2024	15.4	+4.8pp	Cons. · Japanese GAAP
FYE Mar 2025	18.3	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2026	19.4	+1.1pp	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 134.4%

Average · 10 yrs 169.3%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	196.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	169.0	−27.7pp	Cons. · Japanese GAAP
FYE Mar 2019	159.5	−9.5pp	Cons. · Japanese GAAP
FYE Mar 2020	150.2	−9.2pp	Cons. · Japanese GAAP
FYE Mar 2021	135.2	−15.0pp	Cons. · Japanese GAAP
FYE Mar 2022	170.8	+35.6pp	Cons. · Japanese GAAP
FYE Mar 2023	273.1	+102.3pp	Cons. · Japanese GAAP
FYE Mar 2024	167.2	−106.0pp	Cons. · Japanese GAAP
FYE Mar 2025	137.4	−29.8pp	Cons. · Japanese GAAP
FYE Mar 2026	134.4	−3.0pp	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 7.6%

Average · 10 yrs 4.9%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	10.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.5	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2019	6.1	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	8.0	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	3.6	−4.4pp	Cons. · Japanese GAAP
FYE Mar 2022	-15.5	−19.0pp	Cons. · Japanese GAAP
FYE Mar 2023	-23.2	−7.7pp	Cons. · Japanese GAAP
FYE Mar 2024	27.3	+50.6pp	Cons. · Japanese GAAP
FYE Mar 2025	18.6	−8.8pp	Cons. · Japanese GAAP
FYE Mar 2026	7.6	−10.9pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 1.5%

Average · 10 yrs 1.0%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	1.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	1.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	1.5	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2021	0.7	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2022	-2.3	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2023	-2.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	4.2	+6.6pp	Cons. · Japanese GAAP
FYE Mar 2025	3.4	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	1.5	−1.9pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.41×

CAGR · 10 yrs −1.4%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.47	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.49	+4.3%	Cons. · Japanese GAAP
FYE Mar 2019	0.53	+7.4%	Cons. · Japanese GAAP
FYE Mar 2020	0.52	−1.4%	Cons. · Japanese GAAP
FYE Mar 2021	0.51	−1.6%	Cons. · Japanese GAAP
FYE Mar 2022	0.45	−12.9%	Cons. · Japanese GAAP
FYE Mar 2023	0.58	+29.6%	Cons. · Japanese GAAP
FYE Mar 2024	0.52	−9.4%	Cons. · Japanese GAAP
FYE Mar 2025	0.49	−6.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.41	−15.5%	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 ¥370bn

CAGR · 10 yrs +3.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	278	n/a	Cons. · Japanese GAAP
FYE Mar 2018	324	+16.5%	Cons. · Japanese GAAP
FYE Mar 2019	263	−18.9%	Cons. · Japanese GAAP
FYE Mar 2020	372	+41.4%	Cons. · Japanese GAAP
FYE Mar 2021	218	−41.4%	Cons. · Japanese GAAP
FYE Mar 2022	97.2	−55.3%	Cons. · Japanese GAAP
FYE Mar 2023	-93.8	−196.5%	Cons. · Japanese GAAP
FYE Mar 2024	450	n/a	Cons. · Japanese GAAP
FYE Mar 2025	410	−8.8%	Cons. · Japanese GAAP
FYE Mar 2026	370	−9.8%	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 -¥376bn

Average · 10 yrs -¥308bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-256	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-274	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-251	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-311	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-255	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-322	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-276	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-334	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-423	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-376	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 ¥115bn

Average · 10 yrs ¥78bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-55.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-36.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-69.3	n/a	Cons. · Japanese GAAP
FYE Mar 2020	6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-5.8	−185.9%	Cons. · Japanese GAAP
FYE Mar 2022	293	n/a	Cons. · Japanese GAAP
FYE Mar 2023	598	+104.1%	Cons. · Japanese GAAP
FYE Mar 2024	-96.1	−116.0%	Cons. · Japanese GAAP
FYE Mar 2025	34.1	n/a	Cons. · Japanese GAAP
FYE Mar 2026	115	+237.3%	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 ¥661bn

CAGR · 10 yrs +12.5%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	228	n/a	Cons. · Japanese GAAP
FYE Mar 2018	242	+6.1%	Cons. · Japanese GAAP
FYE Mar 2019	185	−23.6%	Cons. · Japanese GAAP
FYE Mar 2020	252	+36.4%	Cons. · Japanese GAAP
FYE Mar 2021	210	−16.9%	Cons. · Japanese GAAP
FYE Mar 2022	278	+32.8%	Cons. · Japanese GAAP
FYE Mar 2023	508	+82.4%	Cons. · Japanese GAAP
FYE Mar 2024	529	+4.2%	Cons. · Japanese GAAP
FYE Mar 2025	551	+4.1%	Cons. · Japanese GAAP
FYE Mar 2026	661	+19.9%	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 -¥5.5bn

Average · 10 yrs -¥39bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	21.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	50.1	+129.8%	Cons. · Japanese GAAP
FYE Mar 2019	12.2	−75.6%	Cons. · Japanese GAAP
FYE Mar 2020	60.9	+397.8%	Cons. · Japanese GAAP
FYE Mar 2021	-37.3	−161.3%	Cons. · Japanese GAAP
FYE Mar 2022	-225	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-370	n/a	Cons. · Japanese GAAP
FYE Mar 2024	117	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-12.3	−110.5%	Cons. · Japanese GAAP
FYE Mar 2026	-5.5	n/a	Cons. · Japanese GAAP

Definition: What is left once the business has paid for its own investment
Formula: Operating cash flow + investing cash flow
Source: Securities report (XBRL)

Operating cash flow margin

FYE Mar 2026 15.6%

Average · 10 yrs 11.6%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	14.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.6	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	11.7	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2020	16.5	+4.8pp	Cons. · Japanese GAAP
FYE Mar 2021	9.5	−7.0pp	Cons. · Japanese GAAP
FYE Mar 2022	4.6	−4.9pp	Cons. · Japanese GAAP
FYE Mar 2023	-3.1	−7.7pp	Cons. · Japanese GAAP
FYE Mar 2024	16.0	+19.1pp	Cons. · Japanese GAAP
FYE Mar 2025	15.5	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	15.6	+0.1pp	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 -¥833bn

Average · 10 yrs -¥941bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-1,140	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-994	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-1,032	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-938	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-908	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-917	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-992	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-854	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-802	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-833	n/a	Cons. · Japanese GAAP

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

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

Market capitalisation

FYE Mar 2026 ¥589bn

Change · 8 yrs −¥170bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	758	n/a
FYE Mar 2018	715	n/a
FYE Mar 2019	710	n/a
FYE Mar 2020	523	n/a
FYE Mar 2021	526	n/a
FYE Mar 2022	n/a	n/a
FYE Mar 2023	n/a	n/a
FYE Mar 2024	603	n/a
FYE Mar 2025	518	n/a
FYE Mar 2026	589	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 1,170¥

Change · 8 yrs −337¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,507	n/a
FYE Mar 2018	1,421	n/a
FYE Mar 2019	1,412	n/a
FYE Mar 2020	1,041	n/a
FYE Mar 2021	1,045	n/a
FYE Mar 2022	n/a	n/a
FYE Mar 2023	n/a	n/a
FYE Mar 2024	1,198	n/a
FYE Mar 2025	1,031	n/a
FYE Mar 2026	1,170	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 502,883,000shares

Change · 10 yrs −0 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	502,883,000	Parent
FYE Mar 2018	502,883,000	Parent
FYE Mar 2019	502,883,000	Parent
FYE Mar 2020	502,883,000	Parent
FYE Mar 2021	502,883,000	Parent
FYE Mar 2022	502,883,000	Parent
FYE Mar 2023	502,883,000	Parent
FYE Mar 2024	502,883,000	Parent
FYE Mar 2025	502,883,000	Parent
FYE Mar 2026	502,883,000	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 169.85¥

Change · 10 yrs +29.75¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	140.10	Cons.
FYE Mar 2018	94.61	Cons.
FYE Mar 2019	93.12	Cons.
FYE Mar 2020	126.32	Cons.
FYE Mar 2021	58.81	Cons.
FYE Mar 2022	-216.84	Cons.
FYE Mar 2023	-255.14	Cons.
FYE Mar 2024	452.13	Cons.
FYE Mar 2025	365.50	Cons.
FYE Mar 2026	169.85	Cons.

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

BPS book value per share

FYE Mar 2026 2,209.94¥

Change · 10 yrs +826.79¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,383.14	Cons. · Japanese GAAP
FYE Mar 2018	1,454.25	Cons. · Japanese GAAP
FYE Mar 2019	1,517.61	Cons. · Japanese GAAP
FYE Mar 2020	1,575.40	Cons. · Japanese GAAP
FYE Mar 2021	1,643.46	Cons. · Japanese GAAP
FYE Mar 2022	1,391.30	Cons. · Japanese GAAP
FYE Mar 2023	1,091.68	Cons. · Japanese GAAP
FYE Mar 2024	1,645.90	Cons. · Japanese GAAP
FYE Mar 2025	1,959.07	Cons. · Japanese GAAP
FYE Mar 2026	2,209.94	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 6.89×

Average · 8 yrs 9.91×

Fiscal year	PER ×	Basis
FYE Mar 2017	10.76	Cons.
FYE Mar 2018	15.02	Cons.
FYE Mar 2019	15.16	Cons.
FYE Mar 2020	8.24	Cons.
FYE Mar 2021	17.77	Cons.
FYE Mar 2022	n/a	Cons.
FYE Mar 2023	n/a	Cons.
FYE Mar 2024	2.65	Cons.
FYE Mar 2025	2.82	Cons.
FYE Mar 2026	6.89	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 0.53×

Average · 8 yrs 0.75×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.08	Cons.
FYE Mar 2018	0.97	Cons.
FYE Mar 2019	0.92	Cons.
FYE Mar 2020	0.66	Cons.
FYE Mar 2021	0.63	Cons.
FYE Mar 2022	n/a	Cons.
FYE Mar 2023	n/a	Cons.
FYE Mar 2024	0.72	Cons.
FYE Mar 2025	0.52	Cons.
FYE Mar 2026	0.53	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 18,403people

Change · 10 yrs −6,368 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	24,771	n/a	Cons.
FYE Mar 2018	25,058	+1.2%	Cons.
FYE Mar 2019	25,032	−0.1%	Cons.
FYE Mar 2020	24,870	−0.6%	Cons.
FYE Mar 2021	24,717	−0.6%	Cons.
FYE Mar 2022	24,833	+0.5%	Cons.
FYE Mar 2023	24,528	−1.2%	Cons.
FYE Mar 2024	24,234	−1.2%	Cons.
FYE Mar 2025	18,378	−24.2%	Cons.
FYE Mar 2026	18,403	+0.1%	Cons.

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

Parent-company employees

FYE Mar 2026 4,587people

Change · 10 yrs −8,161 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	12,748	n/a	Parent
FYE Mar 2018	12,839	+0.7%	Parent
FYE Mar 2019	12,678	−1.3%	Parent
FYE Mar 2020	12,531	−1.2%	Parent
FYE Mar 2021	5,061	−59.6%	Parent
FYE Mar 2022	4,927	−2.6%	Parent
FYE Mar 2023	4,901	−0.5%	Parent
FYE Mar 2024	4,763	−2.8%	Parent
FYE Mar 2025	4,661	−2.1%	Parent
FYE Mar 2026	4,587	−1.6%	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 873万円

Change · 8 yrs +116万円

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	757	n/a	Parent
FYE Mar 2020	774	+2.2%	Parent
FYE Mar 2021	776	+0.3%	Parent
FYE Mar 2022	794	+2.3%	Parent
FYE Mar 2023	797	+0.4%	Parent
FYE Mar 2024	780	−2.2%	Parent
FYE Mar 2025	833	+6.8%	Parent
FYE Mar 2026	873	+4.8%	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 44.0years

Change · 8 yrs +1.0 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	43.0	n/a	Parent
FYE Mar 2020	43.2	+0.5%	Parent
FYE Mar 2021	43.3	+0.2%	Parent
FYE Mar 2022	43.4	+0.2%	Parent
FYE Mar 2023	43.7	+0.7%	Parent
FYE Mar 2024	43.8	+0.2%	Parent
FYE Mar 2025	44.0	+0.5%	Parent
FYE Mar 2026	44.0	−0.0%	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 19.8years

Change · 8 yrs −0.3 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	20.1	n/a	Parent
FYE Mar 2020	20.4	+1.5%	Parent
FYE Mar 2021	20.3	−0.5%	Parent
FYE Mar 2022	20.4	+0.5%	Parent
FYE Mar 2023	20.5	+0.5%	Parent
FYE Mar 2024	20.3	−1.0%	Parent
FYE Mar 2025	20.0	−1.5%	Parent
FYE Mar 2026	19.8	−1.0%	Parent

Definition: How long the average employee has been with the company
Formula: Average years of service, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Mar 2026 ¥129m

Change · 10 yrs +¥50.2m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	78.7	n/a	Cons.
FYE Mar 2018	82.7	+5.0%	Cons.
FYE Mar 2019	89.7	+8.5%	Cons.
FYE Mar 2020	90.3	+0.7%	Cons.
FYE Mar 2021	92.5	+2.4%	Cons.
FYE Mar 2022	84.7	−8.4%	Cons.
FYE Mar 2023	123	+44.7%	Cons.
FYE Mar 2024	116	−5.2%	Cons.
FYE Mar 2025	144	+23.8%	Cons.
FYE Mar 2026	129	−10.4%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥8.7m

Change · 10 yrs +¥3.4m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	5.3	n/a	Cons.
FYE Mar 2018	4.3	−18.4%	Cons.
FYE Mar 2019	3.3	−22.2%	Cons.
FYE Mar 2020	4.7	+40.0%	Cons.
FYE Mar 2021	3.6	−24.0%	Cons.
FYE Mar 2022	-1.2	−132.5%	Cons.
FYE Mar 2023	-7.3	n/a	Cons.
FYE Mar 2024	13.3	n/a	Cons.
FYE Mar 2025	15.3	+14.7%	Cons.
FYE Mar 2026	8.7	−42.9%	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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