Financials

Kyushu Electric Power: FYE Mar 2026 and ten years of results (47 metrics)

FYE Mar 2026 · Revenue¥2.25tnYoY −4.7%

FYE Mar 2026 · Operating profit¥225bnYoY +12.7%

FYE Mar 2026 · Net profit¥155bnYoY +20.0%

FYE Mar 2026 · Equity ratio19.9%YoY +2.6pp

FYE Mar 2026 · Group employees21,189YoY +16

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.83tn	n/a	¥123bn	n/a	6.7%	¥79bn	Uriu Michiaki	—
FYE Mar 2018Consolidated	¥1.96tn	+7.3%	¥103bn	−15.9%	5.3%	¥87bn	Uriu Michiaki	—
FYE Mar 2019Consolidated	¥2.02tn	+2.9%	¥87bn	−16.0%	4.3%	¥31bn	Uriu Michiaki	Genkai 3 and 4 restart; first curtailment of solar output
FYE Mar 2020Consolidated	¥2.01tn	−0.2%	¥64bn	−26.3%	3.2%	-¥0.4bn	Ikebe Kazuhiro	—
FYE Mar 2021Consolidated	¥1.52tn	−24.4%	¥77bn	+20.5%	5.1%	¥32bn	Ikebe Kazuhiro	Grid legally separated; 69 years of integration ends
FYE Mar 2022Consolidated	¥1.74tn	+14.5%	¥49bn	−36.8%	2.8%	¥6.9bn	Ikebe Kazuhiro	“Kyuden Group Carbon Minus 2050” announced
FYE Mar 2023Consolidated	¥2.22tn	+27.4%	-¥73bn	−250.1%	-3.3%	-¥56bn	Ikebe Kazuhiro	—
FYE Mar 2024Consolidated	¥2.14tn	−3.7%	¥255bn	n/a	11.9%	¥166bn	Ikebe Kazuhiro	Fuel-price loss, then record profits in 2024–25
FYE Mar 2025Consolidated	¥2.36tn	+10.2%	¥200bn	−21.7%	8.5%	¥129bn	Ikebe Kazuhiro	—
FYE Mar 2026Consolidated	¥2.25tn	−4.7%	¥225bn	+12.7%	10.0%	¥155bn	Ikebe Kazuhiro	Vision 2035 — ¥2.5tn investment, ¥1.5tn on decarbonization

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 ¥2.25tn

CAGR · 10 yrs +2.3%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,828	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,960	+7.3%	Cons. · Japanese GAAP
FYE Mar 2019	2,017	+2.9%	Cons. · Japanese GAAP
FYE Mar 2020	2,013	−0.2%	Cons. · Japanese GAAP
FYE Mar 2021	1,522	−24.4%	Cons. · Japanese GAAP
FYE Mar 2022	1,743	+14.5%	Cons. · Japanese GAAP
FYE Mar 2023	2,221	+27.4%	Cons. · Japanese GAAP
FYE Mar 2024	2,139	−3.7%	Cons. · Japanese GAAP
FYE Mar 2025	2,357	+10.2%	Cons. · Japanese GAAP
FYE Mar 2026	2,247	−4.7%	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 ¥2.02tn

CAGR · 10 yrs +1.9%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,705	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,857	+8.9%	Cons. · Japanese GAAP
FYE Mar 2019	1,931	+4.0%	Cons. · Japanese GAAP
FYE Mar 2020	1,949	+1.0%	Cons. · Japanese GAAP
FYE Mar 2021	1,445	−25.9%	Cons. · Japanese GAAP
FYE Mar 2022	1,695	+17.3%	Cons. · Japanese GAAP
FYE Mar 2023	2,294	+35.4%	Cons. · Japanese GAAP
FYE Mar 2024	1,885	−17.9%	Cons. · Japanese GAAP
FYE Mar 2025	2,157	+14.5%	Cons. · Japanese GAAP
FYE Mar 2026	2,022	−6.3%	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 ¥225bn

CAGR · 10 yrs +7.0%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	123	n/a	Cons. · Japanese GAAP
FYE Mar 2018	103	−15.9%	Cons. · Japanese GAAP
FYE Mar 2019	86.6	−16.0%	Cons. · Japanese GAAP
FYE Mar 2020	63.8	−26.3%	Cons. · Japanese GAAP
FYE Mar 2021	76.9	+20.5%	Cons. · Japanese GAAP
FYE Mar 2022	48.6	−36.8%	Cons. · Japanese GAAP
FYE Mar 2023	-73.0	−250.1%	Cons. · Japanese GAAP
FYE Mar 2024	255	n/a	Cons. · Japanese GAAP
FYE Mar 2025	200	−21.7%	Cons. · Japanese GAAP
FYE Mar 2026	225	+12.7%	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 ¥1.0m

CAGR · 9 yrs −0.0%

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	0.0	−100.0%	Cons. · Japanese GAAP
FYE Mar 2022	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2024	1.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	1.0	−0.0%	Cons. · Japanese GAAP
FYE Mar 2026	1.0	−0.0%	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 ¥225bn

CAGR · 10 yrs +7.0%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	123	n/a	Cons. · Japanese GAAP
FYE Mar 2018	103	−15.9%	Cons. · Japanese GAAP
FYE Mar 2019	86.6	−16.0%	Cons. · Japanese GAAP
FYE Mar 2020	63.8	−26.3%	Cons. · Japanese GAAP
FYE Mar 2021	76.9	+20.5%	Cons. · Japanese GAAP
FYE Mar 2022	48.6	−36.8%	Cons. · Japanese GAAP
FYE Mar 2023	-73.0	−250.1%	Cons. · Japanese GAAP
FYE Mar 2024	255	n/a	Cons. · Japanese GAAP
FYE Mar 2025	200	−21.7%	Cons. · Japanese GAAP
FYE Mar 2026	225	+12.7%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥42bn

CAGR · 10 yrs +9.8%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	18.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.8	−12.5%	Cons. · Japanese GAAP
FYE Mar 2019	10.4	−34.2%	Cons. · Japanese GAAP
FYE Mar 2020	17.0	+62.5%	Cons. · Japanese GAAP
FYE Mar 2021	16.6	−1.9%	Cons. · Japanese GAAP
FYE Mar 2022	19.4	+16.8%	Cons. · Japanese GAAP
FYE Mar 2023	24.9	+27.9%	Cons. · Japanese GAAP
FYE Mar 2024	30.5	+22.6%	Cons. · Japanese GAAP
FYE Mar 2025	39.5	+29.5%	Cons. · Japanese GAAP
FYE Mar 2026	41.9	+6.2%	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 ¥60bn

CAGR · 10 yrs +2.8%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	46.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	45.3	−2.7%	Cons. · Japanese GAAP
FYE Mar 2019	44.5	−1.8%	Cons. · Japanese GAAP
FYE Mar 2020	40.7	−8.4%	Cons. · Japanese GAAP
FYE Mar 2021	38.3	−5.8%	Cons. · Japanese GAAP
FYE Mar 2022	35.7	−7.0%	Cons. · Japanese GAAP
FYE Mar 2023	38.5	+7.9%	Cons. · Japanese GAAP
FYE Mar 2024	47.2	+22.7%	Cons. · Japanese GAAP
FYE Mar 2025	44.4	−6.1%	Cons. · Japanese GAAP
FYE Mar 2026	59.7	+34.6%	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 ¥207bn

CAGR · 10 yrs +9.1%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	94.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	73.7	−21.8%	Cons. · Japanese GAAP
FYE Mar 2019	52.5	−28.7%	Cons. · Japanese GAAP
FYE Mar 2020	40.1	−23.8%	Cons. · Japanese GAAP
FYE Mar 2021	55.2	+37.8%	Cons. · Japanese GAAP
FYE Mar 2022	32.4	−41.3%	Cons. · Japanese GAAP
FYE Mar 2023	-86.6	−367.5%	Cons. · Japanese GAAP
FYE Mar 2024	238	n/a	Cons. · Japanese GAAP
FYE Mar 2025	195	−18.3%	Cons. · Japanese GAAP
FYE Mar 2026	207	+6.4%	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 n/a

CAGR · 3 yrs +13.6%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2017	10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	2.8	n/a	Cons. · Japanese GAAP
FYE Mar 2024	13.5	+388.3%	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥155bn

CAGR · 10 yrs +7.7%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	79.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	86.7	+9.3%	Cons. · Japanese GAAP
FYE Mar 2019	31.0	−64.3%	Cons. · Japanese GAAP
FYE Mar 2020	-0.4	−101.4%	Cons. · Japanese GAAP
FYE Mar 2021	31.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	6.9	−78.4%	Cons. · Japanese GAAP
FYE Mar 2023	-56.4	−921.0%	Cons. · Japanese GAAP
FYE Mar 2024	166	n/a	Cons. · Japanese GAAP
FYE Mar 2025	129	−22.6%	Cons. · Japanese GAAP
FYE Mar 2026	155	+20.0%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 10.0%

Average · 10 yrs 5.4%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.3	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	4.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	3.2	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	5.1	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	2.8	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	-3.3	−6.1pp	Cons. · Japanese GAAP
FYE Mar 2024	11.9	+15.2pp	Cons. · Japanese GAAP
FYE Mar 2025	8.5	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2026	10.0	+1.5pp	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 10.0%

Average · 10 yrs 5.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	6.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.3	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	4.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	3.2	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	5.1	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	2.8	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	-3.3	−6.1pp	Cons. · Japanese GAAP
FYE Mar 2024	11.9	+15.2pp	Cons. · Japanese GAAP
FYE Mar 2025	8.5	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2026	10.0	+1.5pp	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 9.2%

Average · 10 yrs 4.4%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	5.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.8	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	2.6	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	2.0	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	3.6	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	1.9	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2023	-3.9	−5.8pp	Cons. · Japanese GAAP
FYE Mar 2024	11.1	+15.0pp	Cons. · Japanese GAAP
FYE Mar 2025	8.3	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2026	9.2	+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 6.9%

Average · 10 yrs 3.0%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	4.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	1.5	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2020	-0.0	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2021	2.1	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2022	0.4	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2023	-2.5	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2024	7.8	+10.3pp	Cons. · Japanese GAAP
FYE Mar 2025	5.5	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	6.9	+1.4pp	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 90.0%

Average · 10 yrs 94.6%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	93.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	94.7	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	95.7	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	96.8	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	94.9	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	97.2	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	103.3	+6.1pp	Cons. · Japanese GAAP
FYE Mar 2024	88.1	−15.2pp	Cons. · Japanese GAAP
FYE Mar 2025	91.5	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2026	90.0	−1.5pp	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 ¥5.98tn

CAGR · 10 yrs +3.0%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	4,588	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4,710	+2.7%	Cons. · Japanese GAAP
FYE Mar 2019	4,794	+1.8%	Cons. · Japanese GAAP
FYE Mar 2020	4,948	+3.2%	Cons. · Japanese GAAP
FYE Mar 2021	5,129	+3.6%	Cons. · Japanese GAAP
FYE Mar 2022	5,342	+4.2%	Cons. · Japanese GAAP
FYE Mar 2023	5,604	+4.9%	Cons. · Japanese GAAP
FYE Mar 2024	5,727	+2.2%	Cons. · Japanese GAAP
FYE Mar 2025	5,774	+0.8%	Cons. · Japanese GAAP
FYE Mar 2026	5,983	+3.6%	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 ¥1.19tn

CAGR · 10 yrs +9.0%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	551	n/a	Cons. · Japanese GAAP
FYE Mar 2018	629	+14.2%	Cons. · Japanese GAAP
FYE Mar 2019	639	+1.6%	Cons. · Japanese GAAP
FYE Mar 2020	611	−4.5%	Cons. · Japanese GAAP
FYE Mar 2021	652	+6.8%	Cons. · Japanese GAAP
FYE Mar 2022	645	−1.0%	Cons. · Japanese GAAP
FYE Mar 2023	582	−9.8%	Cons. · Japanese GAAP
FYE Mar 2024	891	+53.0%	Cons. · Japanese GAAP
FYE Mar 2025	999	+12.2%	Cons. · Japanese GAAP
FYE Mar 2026	1,193	+19.3%	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 ¥1.82tn

CAGR · 10 yrs +0.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	1,802	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,742	−3.3%	Cons. · Japanese GAAP
FYE Mar 2019	1,691	−2.9%	Cons. · Japanese GAAP
FYE Mar 2020	1,759	+4.0%	Cons. · Japanese GAAP
FYE Mar 2021	1,768	+0.5%	Cons. · Japanese GAAP
FYE Mar 2022	1,858	+5.1%	Cons. · Japanese GAAP
FYE Mar 2023	2,033	+9.4%	Cons. · Japanese GAAP
FYE Mar 2024	1,943	−4.5%	Cons. · Japanese GAAP
FYE Mar 2025	1,870	−3.8%	Cons. · Japanese GAAP
FYE Mar 2026	1,815	−2.9%	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 ¥126bn

CAGR · 10 yrs +0.8%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	117	n/a	Cons. · Japanese GAAP
FYE Mar 2018	117	+0.1%	Cons. · Japanese GAAP
FYE Mar 2019	115	−2.0%	Cons. · Japanese GAAP
FYE Mar 2020	118	+2.6%	Cons. · Japanese GAAP
FYE Mar 2021	123	+4.3%	Cons. · Japanese GAAP
FYE Mar 2022	121	−1.9%	Cons. · Japanese GAAP
FYE Mar 2023	125	+3.1%	Cons. · Japanese GAAP
FYE Mar 2024	123	−0.9%	Cons. · Japanese GAAP
FYE Mar 2025	125	+1.6%	Cons. · Japanese GAAP
FYE Mar 2026	126	+0.8%	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 ¥1.69tn

CAGR · 10 yrs +0.0%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	1,685	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,625	−3.6%	Cons. · Japanese GAAP
FYE Mar 2019	1,576	−3.0%	Cons. · Japanese GAAP
FYE Mar 2020	1,641	+4.1%	Cons. · Japanese GAAP
FYE Mar 2021	1,645	+0.3%	Cons. · Japanese GAAP
FYE Mar 2022	1,737	+5.6%	Cons. · Japanese GAAP
FYE Mar 2023	1,909	+9.9%	Cons. · Japanese GAAP
FYE Mar 2024	1,819	−4.7%	Cons. · Japanese GAAP
FYE Mar 2025	1,744	−4.1%	Cons. · Japanese GAAP
FYE Mar 2026	1,689	−3.2%	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 19.9%

Average · 10 yrs 13.9%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	12.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	13.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	12.3	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2021	12.7	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	12.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	10.4	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2024	15.5	+5.2pp	Cons. · Japanese GAAP
FYE Mar 2025	17.3	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2026	19.9	+2.6pp	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 152.2%

Average · 10 yrs 262.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	327.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	276.9	−50.2pp	Cons. · Japanese GAAP
FYE Mar 2019	264.5	−12.4pp	Cons. · Japanese GAAP
FYE Mar 2020	288.0	+23.5pp	Cons. · Japanese GAAP
FYE Mar 2021	271.1	−17.0pp	Cons. · Japanese GAAP
FYE Mar 2022	287.9	+16.8pp	Cons. · Japanese GAAP
FYE Mar 2023	349.3	+61.5pp	Cons. · Japanese GAAP
FYE Mar 2024	218.1	−131.2pp	Cons. · Japanese GAAP
FYE Mar 2025	187.1	−31.1pp	Cons. · Japanese GAAP
FYE Mar 2026	152.2	−34.9pp	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 13.0%

Average · 10 yrs 7.4%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	14.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.8	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	4.8	−8.9pp	Cons. · Japanese GAAP
FYE Mar 2020	-0.1	−4.9pp	Cons. · Japanese GAAP
FYE Mar 2021	4.9	+4.9pp	Cons. · Japanese GAAP
FYE Mar 2022	1.1	−3.8pp	Cons. · Japanese GAAP
FYE Mar 2023	-9.7	−10.8pp	Cons. · Japanese GAAP
FYE Mar 2024	18.7	+28.4pp	Cons. · Japanese GAAP
FYE Mar 2025	12.9	−5.8pp	Cons. · Japanese GAAP
FYE Mar 2026	13.0	+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 2.6%

Average · 10 yrs 1.2%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	1.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	0.6	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	-0.0	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2021	0.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	0.1	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2023	-1.0	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2024	2.9	+3.9pp	Cons. · Japanese GAAP
FYE Mar 2025	2.2	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	2.6	+0.4pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.38×

CAGR · 10 yrs −0.7%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.40	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.42	+4.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.42	+1.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.41	−3.3%	Cons. · Japanese GAAP
FYE Mar 2021	0.30	−27.1%	Cons. · Japanese GAAP
FYE Mar 2022	0.33	+10.0%	Cons. · Japanese GAAP
FYE Mar 2023	0.40	+21.5%	Cons. · Japanese GAAP
FYE Mar 2024	0.37	−5.8%	Cons. · Japanese GAAP
FYE Mar 2025	0.41	+9.3%	Cons. · Japanese GAAP
FYE Mar 2026	0.38	−8.0%	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 ¥439bn

CAGR · 10 yrs +9.9%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	188	n/a	Cons. · Japanese GAAP
FYE Mar 2018	356	+89.3%	Cons. · Japanese GAAP
FYE Mar 2019	283	−20.5%	Cons. · Japanese GAAP
FYE Mar 2020	227	−19.8%	Cons. · Japanese GAAP
FYE Mar 2021	253	+11.7%	Cons. · Japanese GAAP
FYE Mar 2022	258	+1.7%	Cons. · Japanese GAAP
FYE Mar 2023	30.5	−88.2%	Cons. · Japanese GAAP
FYE Mar 2024	586	+1821.3%	Cons. · Japanese GAAP
FYE Mar 2025	432	−26.3%	Cons. · Japanese GAAP
FYE Mar 2026	439	+1.6%	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 -¥384bn

Average · 10 yrs -¥345bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-275	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-322	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-364	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-425	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-331	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-321	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-329	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-344	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-359	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-384	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 -¥58bn

Average · 10 yrs ¥31bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	78.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-90.3	−215.3%	Cons. · Japanese GAAP
FYE Mar 2019	-40.7	n/a	Cons. · Japanese GAAP
FYE Mar 2020	158	n/a	Cons. · Japanese GAAP
FYE Mar 2021	95.5	−39.5%	Cons. · Japanese GAAP
FYE Mar 2022	79.4	−16.9%	Cons. · Japanese GAAP
FYE Mar 2023	325	+308.9%	Cons. · Japanese GAAP
FYE Mar 2024	-151	−146.3%	Cons. · Japanese GAAP
FYE Mar 2025	-91.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-57.7	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 ¥351bn

CAGR · 10 yrs −2.0%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	420	n/a	Cons. · Japanese GAAP
FYE Mar 2018	366	−12.9%	Cons. · Japanese GAAP
FYE Mar 2019	245	−33.0%	Cons. · Japanese GAAP
FYE Mar 2020	205	−16.2%	Cons. · Japanese GAAP
FYE Mar 2021	224	+9.0%	Cons. · Japanese GAAP
FYE Mar 2022	242	+8.0%	Cons. · Japanese GAAP
FYE Mar 2023	271	+12.0%	Cons. · Japanese GAAP
FYE Mar 2024	364	+34.6%	Cons. · Japanese GAAP
FYE Mar 2025	350	−4.0%	Cons. · Japanese GAAP
FYE Mar 2026	351	+0.4%	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 ¥55bn

Average · 10 yrs -¥40bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-87.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	34.2	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-81.3	−337.5%	Cons. · Japanese GAAP
FYE Mar 2020	-198	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-77.1	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-63.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-298	n/a	Cons. · Japanese GAAP
FYE Mar 2024	242	n/a	Cons. · Japanese GAAP
FYE Mar 2025	73.0	−69.8%	Cons. · Japanese GAAP
FYE Mar 2026	55.0	−24.7%	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 19.5%

Average · 10 yrs 15.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	10.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	18.2	+7.9pp	Cons. · Japanese GAAP
FYE Mar 2019	14.0	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2020	11.3	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2021	16.7	+5.4pp	Cons. · Japanese GAAP
FYE Mar 2022	14.8	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2023	1.4	−13.4pp	Cons. · Japanese GAAP
FYE Mar 2024	27.4	+26.0pp	Cons. · Japanese GAAP
FYE Mar 2025	18.3	−9.1pp	Cons. · Japanese GAAP
FYE Mar 2026	19.5	+1.2pp	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 -¥1.46tn

Average · 10 yrs -¥1.52tn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-1,382	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-1,376	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-1,446	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-1,553	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-1,544	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-1,616	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-1,763	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-1,578	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-1,520	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-1,464	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 ¥858bn

Change · 8 yrs +¥296bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	562	n/a
FYE Mar 2018	601	n/a
FYE Mar 2019	620	n/a
FYE Mar 2020	n/a	n/a
FYE Mar 2021	518	n/a
FYE Mar 2022	387	n/a
FYE Mar 2023	n/a	n/a
FYE Mar 2024	652	n/a
FYE Mar 2025	619	n/a
FYE Mar 2026	858	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 1,809¥

Change · 8 yrs +624¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,185	n/a
FYE Mar 2018	1,268	n/a
FYE Mar 2019	1,307	n/a
FYE Mar 2020	n/a	n/a
FYE Mar 2021	1,092	n/a
FYE Mar 2022	817	n/a
FYE Mar 2023	n/a	n/a
FYE Mar 2024	1,376	n/a
FYE Mar 2025	1,306	n/a
FYE Mar 2026	1,809	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 474,184,000shares

Change · 10 yrs −0 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	474,184,000	Parent
FYE Mar 2018	474,184,000	Parent
FYE Mar 2019	474,184,000	Parent
FYE Mar 2020	474,184,000	Parent
FYE Mar 2021	474,184,000	Parent
FYE Mar 2022	474,184,000	Parent
FYE Mar 2023	474,184,000	Parent
FYE Mar 2024	474,184,000	Parent
FYE Mar 2025	474,184,000	Parent
FYE Mar 2026	474,184,000	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 314.65¥

Change · 10 yrs +154.68¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	159.97	Cons.
FYE Mar 2018	175.56	Cons.
FYE Mar 2019	58.05	Cons.
FYE Mar 2020	-6.05	Cons.
FYE Mar 2021	62.86	Cons.
FYE Mar 2022	10.09	Cons.
FYE Mar 2023	-123.81	Cons.
FYE Mar 2024	342.30	Cons.
FYE Mar 2025	260.14	Cons.
FYE Mar 2026	314.65	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 2,515.47¥

Change · 10 yrs +1,353.54¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	1,161.92	Cons. · Japanese GAAP
FYE Mar 2018	1,326.79	Cons. · Japanese GAAP
FYE Mar 2019	1,348.50	Cons. · Japanese GAAP
FYE Mar 2020	1,287.77	Cons. · Japanese GAAP
FYE Mar 2021	1,375.64	Cons. · Japanese GAAP
FYE Mar 2022	1,361.28	Cons. · Japanese GAAP
FYE Mar 2023	1,227.51	Cons. · Japanese GAAP
FYE Mar 2024	1,878.03	Cons. · Japanese GAAP
FYE Mar 2025	2,107.77	Cons. · Japanese GAAP
FYE Mar 2026	2,515.47	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 5.75×

Average · 8 yrs 18.79×

Fiscal year	PER ×	Basis
FYE Mar 2017	7.41	Cons.
FYE Mar 2018	7.22	Cons.
FYE Mar 2019	22.52	Cons.
FYE Mar 2020	n/a	Cons.
FYE Mar 2021	17.37	Cons.
FYE Mar 2022	80.97	Cons.
FYE Mar 2023	n/a	Cons.
FYE Mar 2024	4.02	Cons.
FYE Mar 2025	5.02	Cons.
FYE Mar 2026	5.75	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 0.86×

Average · 8 yrs 0.97×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.25	Cons.
FYE Mar 2018	1.14	Cons.
FYE Mar 2019	1.15	Cons.
FYE Mar 2020	n/a	Cons.
FYE Mar 2021	0.94	Cons.
FYE Mar 2022	0.71	Cons.
FYE Mar 2023	n/a	Cons.
FYE Mar 2024	0.95	Cons.
FYE Mar 2025	0.77	Cons.
FYE Mar 2026	0.86	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 21,189people

Change · 10 yrs +300 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	20,889	n/a	Cons.
FYE Mar 2018	20,968	+0.4%	Cons.
FYE Mar 2019	21,103	+0.6%	Cons.
FYE Mar 2020	21,180	+0.4%	Cons.
FYE Mar 2021	21,273	+0.4%	Cons.
FYE Mar 2022	21,226	−0.2%	Cons.
FYE Mar 2023	21,096	−0.6%	Cons.
FYE Mar 2024	21,092	−0.0%	Cons.
FYE Mar 2025	21,173	+0.4%	Cons.
FYE Mar 2026	21,189	+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 4,383people

Change · 10 yrs −6,690 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	11,073	n/a	Parent
FYE Mar 2018	11,056	−0.2%	Parent
FYE Mar 2019	10,999	−0.5%	Parent
FYE Mar 2020	10,683	−2.9%	Parent
FYE Mar 2021	5,348	−49.9%	Parent
FYE Mar 2022	5,235	−2.1%	Parent
FYE Mar 2023	4,774	−8.8%	Parent
FYE Mar 2024	4,668	−2.2%	Parent
FYE Mar 2025	4,446	−4.8%	Parent
FYE Mar 2026	4,383	−1.4%	Parent

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

Average annual pay parent company

FYE Mar 2026 842万円

Change · 8 yrs +65万円

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	777	n/a	Parent
FYE Mar 2020	776	−0.1%	Parent
FYE Mar 2021	760	−2.2%	Parent
FYE Mar 2022	766	+0.9%	Parent
FYE Mar 2023	770	+0.5%	Parent
FYE Mar 2024	753	−2.2%	Parent
FYE Mar 2025	807	+7.2%	Parent
FYE Mar 2026	842	+4.4%	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 42.1years

Change · 8 yrs −1.1 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	43.2	n/a	Parent
FYE Mar 2020	43.4	+0.5%	Parent
FYE Mar 2021	42.3	−2.5%	Parent
FYE Mar 2022	42.5	+0.5%	Parent
FYE Mar 2023	42.5	−0.0%	Parent
FYE Mar 2024	41.5	−2.4%	Parent
FYE Mar 2025	41.3	−0.5%	Parent
FYE Mar 2026	42.1	+1.9%	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 20.8years

Change · 8 yrs −2.5 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	23.3	n/a	Parent
FYE Mar 2020	23.4	+0.4%	Parent
FYE Mar 2021	21.8	−6.8%	Parent
FYE Mar 2022	21.8	−0.0%	Parent
FYE Mar 2023	21.6	−0.9%	Parent
FYE Mar 2024	21.5	−0.5%	Parent
FYE Mar 2025	21.1	−1.9%	Parent
FYE Mar 2026	20.8	−1.4%	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 ¥106m

Change · 10 yrs +¥18.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	87.5	n/a	Cons.
FYE Mar 2018	93.5	+6.9%	Cons.
FYE Mar 2019	95.6	+2.2%	Cons.
FYE Mar 2020	95.0	−0.6%	Cons.
FYE Mar 2021	71.5	−24.7%	Cons.
FYE Mar 2022	82.1	+14.8%	Cons.
FYE Mar 2023	105	+28.2%	Cons.
FYE Mar 2024	101	−3.7%	Cons.
FYE Mar 2025	111	+9.7%	Cons.
FYE Mar 2026	106	−4.7%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥10.6m

Change · 10 yrs +¥4.7m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	5.9	n/a	Cons.
FYE Mar 2018	4.9	−16.2%	Cons.
FYE Mar 2019	4.1	−16.6%	Cons.
FYE Mar 2020	3.0	−26.6%	Cons.
FYE Mar 2021	3.6	+20.0%	Cons.
FYE Mar 2022	2.3	−36.6%	Cons.
FYE Mar 2023	-3.5	−251.1%	Cons.
FYE Mar 2024	12.1	n/a	Cons.
FYE Mar 2025	9.4	−22.0%	Cons.
FYE Mar 2026	10.6	+12.6%	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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