Financials

Hokkaido Electric Power: FYE Mar 2026 and ten years of results (48 metrics)

FYE Mar 2026 · Revenue¥856bnYoY −5.1%

FYE Mar 2026 · Operating profit¥73bnYoY −3.4%

FYE Mar 2026 · Net profit¥44bnYoY −31.5%

FYE Mar 2026 · Equity ratio18.5%YoY +1.0pp

FYE Mar 2026 · Group employees9,239YoY +74

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥703bn	n/a	¥27bn	n/a	3.9%	¥8.8bn	Mayumi Akihiko	—
FYE Mar 2018Consolidated	¥733bn	+4.3%	¥34bn	+22.9%	4.6%	¥17bn	Mayumi Akihiko	—
FYE Mar 2019Consolidated	¥752bn	+2.6%	¥42bn	+25.2%	5.6%	¥22bn	Mayumi Akihiko	The Hokkaido Eastern Iburi earthquake triggers Japan's first region-wide blackout
FYE Mar 2020Consolidated	¥748bn	−0.5%	¥42bn	+0.5%	5.7%	¥27bn	Mayumi Akihiko	Ishikariwan-Shinko unit 1, the first LNG-fired plant, enters service
FYE Mar 2021Consolidated	¥585bn	−21.8%	¥54bn	+26.8%	9.2%	¥36bn	Fujii Yutaka	Transmission and distribution split out into Hokkaido Electric Power Network
FYE Mar 2022Consolidated	¥663bn	+13.4%	¥25bn	−53.6%	3.8%	¥6.9bn	Fujii Yutaka	—
FYE Mar 2023Consolidated	¥889bn	+34.0%	-¥23bn	−190.2%	-2.5%	-¥22bn	Fujii Yutaka	—
FYE Mar 2024Consolidated	¥954bn	+7.3%	¥101bn	n/a	10.6%	¥66bn	Fujii Yutaka	<a class="en-history_person" href="/tse/9509/executives/ceo/saito-susumu/" hreflang="ja">Saito Susumu</a> becomes president
FYE Mar 2025Consolidated	¥902bn	−5.4%	¥76bn	−25.0%	8.4%	¥64bn	Saito Susumu	Results turn round to ordinary profit of ¥87.3bn
FYE Mar 2026Consolidated	¥856bn	−5.1%	¥73bn	−3.4%	8.6%	¥44bn	Saito Susumu	Management Vision 2035 sets out ¥2.55tn of investment over eleven years

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 ¥856bn

CAGR · 10 yrs +2.2%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	703	n/a	Cons. · Japanese GAAP
FYE Mar 2018	733	+4.3%	Cons. · Japanese GAAP
FYE Mar 2019	752	+2.6%	Cons. · Japanese GAAP
FYE Mar 2020	748	−0.5%	Cons. · Japanese GAAP
FYE Mar 2021	585	−21.8%	Cons. · Japanese GAAP
FYE Mar 2022	663	+13.4%	Cons. · Japanese GAAP
FYE Mar 2023	889	+34.0%	Cons. · Japanese GAAP
FYE Mar 2024	954	+7.3%	Cons. · Japanese GAAP
FYE Mar 2025	902	−5.4%	Cons. · Japanese GAAP
FYE Mar 2026	856	−5.1%	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 ¥783bn

CAGR · 10 yrs +1.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	675	n/a	Cons. · Japanese GAAP
FYE Mar 2018	699	+3.6%	Cons. · Japanese GAAP
FYE Mar 2019	710	+1.5%	Cons. · Japanese GAAP
FYE Mar 2020	706	−0.6%	Cons. · Japanese GAAP
FYE Mar 2021	531	−24.7%	Cons. · Japanese GAAP
FYE Mar 2022	638	+20.1%	Cons. · Japanese GAAP
FYE Mar 2023	911	+42.8%	Cons. · Japanese GAAP
FYE Mar 2024	853	−6.4%	Cons. · Japanese GAAP
FYE Mar 2025	826	−3.1%	Cons. · Japanese GAAP
FYE Mar 2026	783	−5.3%	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 ¥73bn

CAGR · 10 yrs +11.5%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	27.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-86.3	−414.6%	Cons. · Japanese GAAP
FYE Mar 2019	-79.7	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-102	n/a	Cons. · Japanese GAAP
FYE Mar 2021	53.8	n/a	Cons. · Japanese GAAP
FYE Mar 2022	25.0	−53.6%	Cons. · Japanese GAAP
FYE Mar 2023	-22.5	−190.2%	Cons. · Japanese GAAP
FYE Mar 2024	101	n/a	Cons. · Japanese GAAP
FYE Mar 2025	75.8	−25.0%	Cons. · Japanese GAAP
FYE Mar 2026	73.2	−3.4%	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

Average · 5 yrs ¥0.8m

Fiscal year	SG&A ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	0.0	n/a	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 ¥73bn

CAGR · 10 yrs +11.5%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	27.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	33.7	+22.9%	Cons. · Japanese GAAP
FYE Mar 2019	42.2	+25.2%	Cons. · Japanese GAAP
FYE Mar 2020	42.4	+0.5%	Cons. · Japanese GAAP
FYE Mar 2021	53.8	+26.8%	Cons. · Japanese GAAP
FYE Mar 2022	25.0	−53.6%	Cons. · Japanese GAAP
FYE Mar 2023	-22.5	−190.2%	Cons. · Japanese GAAP
FYE Mar 2024	101	n/a	Cons. · Japanese GAAP
FYE Mar 2025	75.8	−25.0%	Cons. · Japanese GAAP
FYE Mar 2026	73.2	−3.4%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥7.4bn

CAGR · 10 yrs +12.4%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	2.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.2	−14.2%	Cons. · Japanese GAAP
FYE Mar 2019	2.4	+6.8%	Cons. · Japanese GAAP
FYE Mar 2020	3.1	+31.2%	Cons. · Japanese GAAP
FYE Mar 2021	1.7	−45.7%	Cons. · Japanese GAAP
FYE Mar 2022	3.4	+100.4%	Cons. · Japanese GAAP
FYE Mar 2023	4.6	+34.7%	Cons. · Japanese GAAP
FYE Mar 2024	3.0	−34.2%	Cons. · Japanese GAAP
FYE Mar 2025	3.6	+18.7%	Cons. · Japanese GAAP
FYE Mar 2026	7.4	+107.5%	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 ¥19bn

CAGR · 10 yrs +1.1%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	17.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.5	−5.2%	Cons. · Japanese GAAP
FYE Mar 2019	14.4	−12.8%	Cons. · Japanese GAAP
FYE Mar 2020	12.9	−10.5%	Cons. · Japanese GAAP
FYE Mar 2021	14.3	+11.0%	Cons. · Japanese GAAP
FYE Mar 2022	14.5	+1.5%	Cons. · Japanese GAAP
FYE Mar 2023	11.3	−22.3%	Cons. · Japanese GAAP
FYE Mar 2024	16.9	+49.1%	Cons. · Japanese GAAP
FYE Mar 2025	15.4	−8.8%	Cons. · Japanese GAAP
FYE Mar 2026	19.3	+25.7%	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 ¥61bn

CAGR · 10 yrs +19.2%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	12.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	19.4	+54.1%	Cons. · Japanese GAAP
FYE Mar 2019	30.2	+55.4%	Cons. · Japanese GAAP
FYE Mar 2020	32.6	+8.1%	Cons. · Japanese GAAP
FYE Mar 2021	41.2	+26.1%	Cons. · Japanese GAAP
FYE Mar 2022	13.8	−66.4%	Cons. · Japanese GAAP
FYE Mar 2023	-29.3	−311.5%	Cons. · Japanese GAAP
FYE Mar 2024	87.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	64.1	−26.6%	Cons. · Japanese GAAP
FYE Mar 2026	61.3	−4.2%	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 ¥1.2bn

CAGR · 4 yrs −40.4%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	5.7	n/a	Cons. · Japanese GAAP
FYE Mar 2024	10.0	+75.6%	Cons. · Japanese GAAP
FYE Mar 2025	19.5	+95.1%	Cons. · Japanese GAAP
FYE Mar 2026	1.2	−93.8%	Cons. · Japanese GAAP

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

Extraordinary loss

FYE Mar 2026 n/a

CAGR · 3 yrs −3.7%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2017	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	4.0	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	1.5	n/a	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	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 ¥44bn

CAGR · 10 yrs +19.6%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	8.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	16.5	+88.2%	Cons. · Japanese GAAP
FYE Mar 2019	22.4	+35.1%	Cons. · Japanese GAAP
FYE Mar 2020	26.7	+19.5%	Cons. · Japanese GAAP
FYE Mar 2021	36.2	+35.3%	Cons. · Japanese GAAP
FYE Mar 2022	6.9	−81.0%	Cons. · Japanese GAAP
FYE Mar 2023	-22.2	−423.3%	Cons. · Japanese GAAP
FYE Mar 2024	66.2	n/a	Cons. · Japanese GAAP
FYE Mar 2025	64.2	−3.0%	Cons. · Japanese GAAP
FYE Mar 2026	44.0	−31.5%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 8.6%

Average · 10 yrs 0.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-11.8	−15.7pp	Cons. · Japanese GAAP
FYE Mar 2019	-10.6	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2020	-13.7	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2021	9.2	+22.9pp	Cons. · Japanese GAAP
FYE Mar 2022	3.8	−5.4pp	Cons. · Japanese GAAP
FYE Mar 2023	-2.5	−6.3pp	Cons. · Japanese GAAP
FYE Mar 2024	10.6	+13.1pp	Cons. · Japanese GAAP
FYE Mar 2025	8.4	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2026	8.6	+0.1pp	Cons. · Japanese GAAP

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

Operating margin

FYE Mar 2026 8.6%

Average · 10 yrs 5.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	3.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.6	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	5.6	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	5.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	9.2	+3.5pp	Cons. · Japanese GAAP
FYE Mar 2022	3.8	−5.4pp	Cons. · Japanese GAAP
FYE Mar 2023	-2.5	−6.3pp	Cons. · Japanese GAAP
FYE Mar 2024	10.6	+13.1pp	Cons. · Japanese GAAP
FYE Mar 2025	8.4	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2026	8.6	+0.1pp	Cons. · Japanese GAAP

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

Ordinary margin

FYE Mar 2026 7.2%

Average · 10 yrs 4.2%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.6	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	4.0	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2020	4.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	7.0	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2022	2.1	−4.9pp	Cons. · Japanese GAAP
FYE Mar 2023	-3.3	−5.4pp	Cons. · Japanese GAAP
FYE Mar 2024	9.2	+12.4pp	Cons. · Japanese GAAP
FYE Mar 2025	7.1	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2026	7.2	+0.1pp	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 5.1%

Average · 10 yrs 3.4%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	1.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	3.0	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	3.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	6.2	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2022	1.0	−5.1pp	Cons. · Japanese GAAP
FYE Mar 2023	-2.5	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2024	6.9	+9.4pp	Cons. · Japanese GAAP
FYE Mar 2025	7.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	5.1	−2.0pp	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 91.4%

Average · 10 yrs 94.2%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	96.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	95.4	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	94.4	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2020	94.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	90.8	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2022	96.2	+5.4pp	Cons. · Japanese GAAP
FYE Mar 2023	102.5	+6.3pp	Cons. · Japanese GAAP
FYE Mar 2024	89.4	−13.1pp	Cons. · Japanese GAAP
FYE Mar 2025	91.6	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2026	91.4	−0.1pp	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 · 5 yrs 0.0%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	0.0	n/a	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 ¥2.47tn

CAGR · 10 yrs +3.4%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	1,830	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,916	+4.7%	Cons. · Japanese GAAP
FYE Mar 2019	1,955	+2.0%	Cons. · Japanese GAAP
FYE Mar 2020	1,959	+0.2%	Cons. · Japanese GAAP
FYE Mar 2021	2,002	+2.2%	Cons. · Japanese GAAP
FYE Mar 2022	1,993	−0.4%	Cons. · Japanese GAAP
FYE Mar 2023	2,093	+5.0%	Cons. · Japanese GAAP
FYE Mar 2024	2,142	+2.3%	Cons. · Japanese GAAP
FYE Mar 2025	2,244	+4.8%	Cons. · Japanese GAAP
FYE Mar 2026	2,471	+10.1%	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 ¥457bn

CAGR · 10 yrs +10.3%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	189	n/a	Cons. · Japanese GAAP
FYE Mar 2018	201	+6.6%	Cons. · Japanese GAAP
FYE Mar 2019	217	+7.7%	Cons. · Japanese GAAP
FYE Mar 2020	235	+8.3%	Cons. · Japanese GAAP
FYE Mar 2021	277	+18.0%	Cons. · Japanese GAAP
FYE Mar 2022	273	−1.6%	Cons. · Japanese GAAP
FYE Mar 2023	245	−10.2%	Cons. · Japanese GAAP
FYE Mar 2024	319	+30.5%	Cons. · Japanese GAAP
FYE Mar 2025	392	+22.7%	Cons. · Japanese GAAP
FYE Mar 2026	457	+16.6%	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 ¥585bn

CAGR · 10 yrs +0.5%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	558	n/a	Cons. · Japanese GAAP
FYE Mar 2018	566	+1.4%	Cons. · Japanese GAAP
FYE Mar 2019	535	−5.5%	Cons. · Japanese GAAP
FYE Mar 2020	599	+12.1%	Cons. · Japanese GAAP
FYE Mar 2021	575	−4.1%	Cons. · Japanese GAAP
FYE Mar 2022	557	−3.1%	Cons. · Japanese GAAP
FYE Mar 2023	555	−0.3%	Cons. · Japanese GAAP
FYE Mar 2024	559	+0.8%	Cons. · Japanese GAAP
FYE Mar 2025	539	−3.7%	Cons. · Japanese GAAP
FYE Mar 2026	585	+8.5%	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 ¥45bn

CAGR · 10 yrs −1.8%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	52.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	53.3	+1.7%	Cons. · Japanese GAAP
FYE Mar 2019	52.4	−1.7%	Cons. · Japanese GAAP
FYE Mar 2020	45.0	−14.1%	Cons. · Japanese GAAP
FYE Mar 2021	39.9	−11.3%	Cons. · Japanese GAAP
FYE Mar 2022	44.5	+11.5%	Cons. · Japanese GAAP
FYE Mar 2023	44.5	−0.0%	Cons. · Japanese GAAP
FYE Mar 2024	44.5	−0.0%	Cons. · Japanese GAAP
FYE Mar 2025	44.5	−0.0%	Cons. · Japanese GAAP
FYE Mar 2026	44.5	−0.0%	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 ¥540bn

CAGR · 10 yrs +0.8%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	505	n/a	Cons. · Japanese GAAP
FYE Mar 2018	512	+1.4%	Cons. · Japanese GAAP
FYE Mar 2019	482	−5.9%	Cons. · Japanese GAAP
FYE Mar 2020	554	+14.9%	Cons. · Japanese GAAP
FYE Mar 2021	535	−3.5%	Cons. · Japanese GAAP
FYE Mar 2022	512	−4.2%	Cons. · Japanese GAAP
FYE Mar 2023	511	−0.4%	Cons. · Japanese GAAP
FYE Mar 2024	515	+0.8%	Cons. · Japanese GAAP
FYE Mar 2025	494	−4.0%	Cons. · Japanese GAAP
FYE Mar 2026	540	+9.3%	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 18.5%

Average · 10 yrs 13.4%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	10.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.5	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	11.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	12.0	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	13.8	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	13.7	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	11.7	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2024	14.9	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	17.5	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2026	18.5	+1.0pp	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 128.0%

Average · 10 yrs 215.7%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	295.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	280.8	−14.4pp	Cons. · Japanese GAAP
FYE Mar 2019	246.5	−34.3pp	Cons. · Japanese GAAP
FYE Mar 2020	255.1	+8.6pp	Cons. · Japanese GAAP
FYE Mar 2021	207.3	−47.7pp	Cons. · Japanese GAAP
FYE Mar 2022	204.3	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2023	226.8	+22.5pp	Cons. · Japanese GAAP
FYE Mar 2024	175.1	−51.6pp	Cons. · Japanese GAAP
FYE Mar 2025	137.5	−37.7pp	Cons. · Japanese GAAP
FYE Mar 2026	128.0	−9.5pp	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 9.6%

Average · 10 yrs 8.8%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	4.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.2	+3.6pp	Cons. · Japanese GAAP
FYE Mar 2019	10.3	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2020	11.4	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2021	13.0	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	2.5	−10.5pp	Cons. · Japanese GAAP
FYE Mar 2023	-9.1	−11.6pp	Cons. · Japanese GAAP
FYE Mar 2024	20.7	+29.8pp	Cons. · Japanese GAAP
FYE Mar 2025	16.4	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2026	9.6	−6.8pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 1.8%

Average · 10 yrs 1.3%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	0.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.9	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	1.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	1.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	1.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	0.3	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	-1.1	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	3.1	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2025	2.9	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2026	1.8	−1.1pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.35×

CAGR · 10 yrs −1.1%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.38	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.38	−0.4%	Cons. · Japanese GAAP
FYE Mar 2019	0.38	+0.6%	Cons. · Japanese GAAP
FYE Mar 2020	0.38	−0.7%	Cons. · Japanese GAAP
FYE Mar 2021	0.29	−23.5%	Cons. · Japanese GAAP
FYE Mar 2022	0.33	+13.9%	Cons. · Japanese GAAP
FYE Mar 2023	0.42	+27.6%	Cons. · Japanese GAAP
FYE Mar 2024	0.45	+4.9%	Cons. · Japanese GAAP
FYE Mar 2025	0.40	−9.7%	Cons. · Japanese GAAP
FYE Mar 2026	0.35	−13.8%	Cons. · Japanese GAAP

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

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

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥115bn

CAGR · 10 yrs +6.1%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	67.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	107	+59.6%	Cons. · Japanese GAAP
FYE Mar 2019	114	+6.3%	Cons. · Japanese GAAP
FYE Mar 2020	103	−9.8%	Cons. · Japanese GAAP
FYE Mar 2021	137	+33.0%	Cons. · Japanese GAAP
FYE Mar 2022	102	−25.1%	Cons. · Japanese GAAP
FYE Mar 2023	-0.6	−100.6%	Cons. · Japanese GAAP
FYE Mar 2024	176	n/a	Cons. · Japanese GAAP
FYE Mar 2025	126	−28.7%	Cons. · Japanese GAAP
FYE Mar 2026	115	−8.8%	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 -¥213bn

Average · 10 yrs -¥118bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-145	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-145	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-127	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-127	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-85.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-77.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-85.2	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-80.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-90.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-213	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 ¥127bn

CAGR · 10 yrs +9.2%

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	57.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	66.4	+15.7%	Cons. · Japanese GAAP
FYE Mar 2019	-31.2	−147.1%	Cons. · Japanese GAAP
FYE Mar 2020	9.8	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-24.7	−351.1%	Cons. · Japanese GAAP
FYE Mar 2022	-19.5	n/a	Cons. · Japanese GAAP
FYE Mar 2023	86.8	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-74.7	−186.0%	Cons. · Japanese GAAP
FYE Mar 2025	10.7	n/a	Cons. · Japanese GAAP
FYE Mar 2026	127	+1082.2%	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 ¥185bn

CAGR · 10 yrs +8.6%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	88.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	116	+31.9%	Cons. · Japanese GAAP
FYE Mar 2019	71.7	−38.2%	Cons. · Japanese GAAP
FYE Mar 2020	57.5	−19.8%	Cons. · Japanese GAAP
FYE Mar 2021	83.8	+45.7%	Cons. · Japanese GAAP
FYE Mar 2022	88.9	+6.1%	Cons. · Japanese GAAP
FYE Mar 2023	89.9	+1.1%	Cons. · Japanese GAAP
FYE Mar 2024	111	+23.2%	Cons. · Japanese GAAP
FYE Mar 2025	156	+41.2%	Cons. · Japanese GAAP
FYE Mar 2026	185	+18.1%	Cons. · Japanese GAAP

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

Free cash flow

FYE Mar 2026 -¥99bn

Average · 10 yrs -¥13bn

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	-78.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-38.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-13.1	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-24.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	50.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	24.6	−51.7%	Cons. · Japanese GAAP
FYE Mar 2023	-85.8	−448.6%	Cons. · Japanese GAAP
FYE Mar 2024	95.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	34.9	−63.4%	Cons. · Japanese GAAP
FYE Mar 2026	-98.5	−382.4%	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 13.4%

Average · 10 yrs 13.7%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	9.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.6	+5.1pp	Cons. · Japanese GAAP
FYE Mar 2019	15.1	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	13.7	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2021	23.3	+9.6pp	Cons. · Japanese GAAP
FYE Mar 2022	15.4	−7.9pp	Cons. · Japanese GAAP
FYE Mar 2023	-0.1	−15.5pp	Cons. · Japanese GAAP
FYE Mar 2024	18.5	+18.5pp	Cons. · Japanese GAAP
FYE Mar 2025	13.9	−4.5pp	Cons. · Japanese GAAP
FYE Mar 2026	13.4	−0.5pp	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 -¥400bn

Average · 10 yrs -¥458bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-469	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-449	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-463	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-542	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-491	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-468	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-465	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-449	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-382	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-400	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 ¥227bn

Change · 9 yrs +¥46bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	181	n/a
FYE Mar 2018	150	n/a
FYE Mar 2019	137	n/a
FYE Mar 2020	101	n/a
FYE Mar 2021	109	n/a
FYE Mar 2022	104	n/a
FYE Mar 2023	n/a	n/a
FYE Mar 2024	181	n/a
FYE Mar 2025	164	n/a
FYE Mar 2026	227	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 1,056¥

Change · 9 yrs +214¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	842	n/a
FYE Mar 2018	697	n/a
FYE Mar 2019	636	n/a
FYE Mar 2020	468	n/a
FYE Mar 2021	506	n/a
FYE Mar 2022	484	n/a
FYE Mar 2023	n/a	n/a
FYE Mar 2024	839	n/a
FYE Mar 2025	762	n/a
FYE Mar 2026	1,056	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 215,291,912shares

Change · 10 yrs −0 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	215,291,912	Parent
FYE Mar 2018	215,291,912	Parent
FYE Mar 2019	215,291,912	Parent
FYE Mar 2020	215,291,912	Parent
FYE Mar 2021	215,291,912	Parent
FYE Mar 2022	215,291,912	Parent
FYE Mar 2023	215,291,912	Parent
FYE Mar 2024	215,291,912	Parent
FYE Mar 2025	215,291,912	Parent
FYE Mar 2026	215,291,912	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 207.40¥

Change · 10 yrs +173.31¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	34.09	Cons.
FYE Mar 2018	71.84	Cons.
FYE Mar 2019	101.93	Cons.
FYE Mar 2020	123.16	Cons.
FYE Mar 2021	169.09	Cons.
FYE Mar 2022	26.57	Cons.
FYE Mar 2023	-114.96	Cons.
FYE Mar 2024	315.44	Cons.
FYE Mar 2025	305.90	Cons.
FYE Mar 2026	207.40	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 2,122.47¥

Change · 10 yrs +1,245.24¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	877.23	Cons. · Japanese GAAP
FYE Mar 2018	935.53	Cons. · Japanese GAAP
FYE Mar 2019	1,007.44	Cons. · Japanese GAAP
FYE Mar 2020	1,091.17	Cons. · Japanese GAAP
FYE Mar 2021	1,287.10	Cons. · Japanese GAAP
FYE Mar 2022	1,266.41	Cons. · Japanese GAAP
FYE Mar 2023	1,137.13	Cons. · Japanese GAAP
FYE Mar 2024	1,483.49	Cons. · Japanese GAAP
FYE Mar 2025	1,820.47	Cons. · Japanese GAAP
FYE Mar 2026	2,122.47	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 5.09×

Average · 9 yrs 8.43×

Fiscal year	PER ×	Basis
FYE Mar 2017	24.70	Cons.
FYE Mar 2018	9.70	Cons.
FYE Mar 2019	6.24	Cons.
FYE Mar 2020	3.80	Cons.
FYE Mar 2021	2.99	Cons.
FYE Mar 2022	18.22	Cons.
FYE Mar 2023	n/a	Cons.
FYE Mar 2024	2.66	Cons.
FYE Mar 2025	2.49	Cons.
FYE Mar 2026	5.09	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 · 9 yrs 0.66×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.24	Cons.
FYE Mar 2018	0.94	Cons.
FYE Mar 2019	0.78	Cons.
FYE Mar 2020	0.51	Cons.
FYE Mar 2021	0.45	Cons.
FYE Mar 2022	0.44	Cons.
FYE Mar 2023	n/a	Cons.
FYE Mar 2024	0.63	Cons.
FYE Mar 2025	0.45	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 9,239people

Change · 10 yrs −1,746 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	10,985	n/a	Cons.
FYE Mar 2018	10,962	−0.2%	Cons.
FYE Mar 2019	10,937	−0.2%	Cons.
FYE Mar 2020	10,736	−1.8%	Cons.
FYE Mar 2021	10,503	−2.2%	Cons.
FYE Mar 2022	10,226	−2.6%	Cons.
FYE Mar 2023	10,005	−2.2%	Cons.
FYE Mar 2024	9,206	−8.0%	Cons.
FYE Mar 2025	9,165	−0.4%	Cons.
FYE Mar 2026	9,239	+0.8%	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 2,400people

Change · 10 yrs −2,989 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	5,389	n/a	Parent
FYE Mar 2018	5,284	−1.9%	Parent
FYE Mar 2019	5,285	−0.0%	Parent
FYE Mar 2020	5,216	−1.3%	Parent
FYE Mar 2021	2,361	−54.7%	Parent
FYE Mar 2022	2,337	−1.0%	Parent
FYE Mar 2023	2,315	−0.9%	Parent
FYE Mar 2024	2,257	−2.5%	Parent
FYE Mar 2025	2,302	+2.0%	Parent
FYE Mar 2026	2,400	+4.3%	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 828万円

Change · 8 yrs +122万円

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	706	n/a	Parent
FYE Mar 2020	700	−0.9%	Parent
FYE Mar 2021	725	+3.6%	Parent
FYE Mar 2022	737	+1.7%	Parent
FYE Mar 2023	751	+1.8%	Parent
FYE Mar 2024	754	+0.5%	Parent
FYE Mar 2025	795	+5.3%	Parent
FYE Mar 2026	828	+4.2%	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 41.3years

Change · 8 yrs −0.0 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	41.3	n/a	Parent
FYE Mar 2020	41.8	+1.2%	Parent
FYE Mar 2021	41.3	−1.2%	Parent
FYE Mar 2022	41.3	−0.0%	Parent
FYE Mar 2023	41.3	−0.0%	Parent
FYE Mar 2024	41.4	+0.2%	Parent
FYE Mar 2025	41.5	+0.2%	Parent
FYE Mar 2026	41.3	−0.5%	Parent

Definition: Average age of the parent company's employees
Formula: Average age, from the employee section of the filing
Source: Securities report (XBRL)

Average length of service

FYE Mar 2026 18.2years

Change · 8 yrs −2.6 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	20.8	n/a	Parent
FYE Mar 2020	21.3	+2.4%	Parent
FYE Mar 2021	20.1	−5.6%	Parent
FYE Mar 2022	19.9	−1.0%	Parent
FYE Mar 2023	19.7	−1.0%	Parent
FYE Mar 2024	19.6	−0.5%	Parent
FYE Mar 2025	19.2	−2.0%	Parent
FYE Mar 2026	18.2	−5.2%	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 ¥92.6m

Change · 10 yrs +¥28.7m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	64.0	n/a	Cons.
FYE Mar 2018	66.9	+4.5%	Cons.
FYE Mar 2019	68.8	+2.9%	Cons.
FYE Mar 2020	69.7	+1.4%	Cons.
FYE Mar 2021	55.7	−20.1%	Cons.
FYE Mar 2022	64.9	+16.4%	Cons.
FYE Mar 2023	88.8	+36.9%	Cons.
FYE Mar 2024	104	+16.6%	Cons.
FYE Mar 2025	98.4	−5.0%	Cons.
FYE Mar 2026	92.6	−5.9%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥7.9m

Change · 10 yrs +¥5.4m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.5	n/a	Cons.
FYE Mar 2018	3.1	+23.2%	Cons.
FYE Mar 2019	3.9	+25.5%	Cons.
FYE Mar 2020	4.0	+2.3%	Cons.
FYE Mar 2021	5.1	+29.6%	Cons.
FYE Mar 2022	2.4	−52.3%	Cons.
FYE Mar 2023	-2.3	−192.2%	Cons.
FYE Mar 2024	11.0	n/a	Cons.
FYE Mar 2025	8.3	−24.7%	Cons.
FYE Mar 2026	7.9	−4.2%	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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