Financials

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

FYE Mar 2026 · Revenue¥2.83tnYoY +7.5%

FYE Mar 2026 · Operating profit¥198bnYoY +48.5%

FYE Mar 2026 · Net profit¥227bnYoY +205.8%

FYE Mar 2026 · Equity ratio44.1%YoY −0.6pp

FYE Mar 2026 · Group employees16,001YoY +429

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥1.59tn	n/a	¥58bn	n/a	3.7%	¥53bn	Hirose Michiaki	Hitachi LNG terminal — a fourth base, outside Tokyo Bay
FYE Mar 2018Consolidated	¥1.78tn	+12.0%	¥116bn	+99.3%	6.5%	¥75bn	Hirose Michiaki	Gas retailing liberalized; TEPCO enters the capital’s gas market
FYE Mar 2019Consolidated	¥1.96tn	+10.4%	¥94bn	−19.4%	4.8%	¥85bn	Hirose Michiaki	—
FYE Mar 2020Consolidated	¥1.93tn	−1.9%	¥101bn	+8.2%	5.3%	¥43bn	Uchida Takashi	<em>Compass2030</em> — shift away from selling volume
FYE Mar 2021Consolidated	¥1.77tn	−8.3%	¥78bn	−23.4%	4.4%	¥50bn	Uchida Takashi	—
FYE Mar 2022Consolidated	¥2.15tn	+22.1%	¥128bn	+64.2%	5.9%	¥96bn	Uchida Takashi	—
FYE Mar 2023Consolidated	¥3.29tn	+52.7%	¥421bn	+230.5%	12.8%	¥281bn	Uchida Takashi	Pipelines separated into Tokyo Gas Network; holding structure
FYE Mar 2024Consolidated	¥2.66tn	−19.1%	¥217bn	−48.5%	8.2%	¥165bn	Uchida Takashi	Record earnings on high LNG; Rockcliff Energy acquired
FYE Mar 2025Consolidated	¥2.64tn	−1.0%	¥133bn	−38.7%	5.0%	¥74bn	Sasayama Shinichi	—
FYE Mar 2026Consolidated	¥2.83tn	+7.5%	¥198bn	+48.5%	7.0%	¥227bn	Sasayama Shinichi	Elliott takes 5%; buybacks, ROE and ROIC commitments follow

How it compares

Tokyo Gas¥2.83tnFY2025Operating margin 7.0%

Osaka Gas¥2.03tnFY2025Operating margin 8.6%

Touhougasu¥651bnFY2025Operating margin 4.9%

Nippon Gas (Nichigas)¥208bnFY2025Operating margin 10.2%

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 ¥2.83tn

CAGR · 10 yrs +6.7%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	1,587	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,777	+12.0%	Cons. · Japanese GAAP
FYE Mar 2019	1,962	+10.4%	Cons. · Japanese GAAP
FYE Mar 2020	1,925	−1.9%	Cons. · Japanese GAAP
FYE Mar 2021	1,765	−8.3%	Cons. · Japanese GAAP
FYE Mar 2022	2,155	+22.1%	Cons. · Japanese GAAP
FYE Mar 2023	3,290	+52.7%	Cons. · Japanese GAAP
FYE Mar 2024	2,662	−19.1%	Cons. · Japanese GAAP
FYE Mar 2025	2,637	−1.0%	Cons. · Japanese GAAP
FYE Mar 2026	2,835	+7.5%	Cons. · Japanese GAAP

Definition: Everything the company took in from its own business
Formula: Revenue line of the income statement
Source: Securities report (XBRL)

Cost of sales

FYE Mar 2026 ¥2.33tn

CAGR · 10 yrs +9.2%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	1,052	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,204	+14.5%	Cons. · Japanese GAAP
FYE Mar 2019	1,407	+16.9%	Cons. · Japanese GAAP
FYE Mar 2020	1,344	−4.5%	Cons. · Japanese GAAP
FYE Mar 2021	1,213	−9.8%	Cons. · Japanese GAAP
FYE Mar 2022	1,766	+45.7%	Cons. · Japanese GAAP
FYE Mar 2023	2,596	+47.0%	Cons. · Japanese GAAP
FYE Mar 2024	2,191	−15.6%	Cons. · Japanese GAAP
FYE Mar 2025	2,231	+1.8%	Cons. · Japanese GAAP
FYE Mar 2026	2,327	+4.3%	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 ¥507bn

CAGR · 10 yrs −0.6%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	535	n/a	Cons. · Japanese GAAP
FYE Mar 2018	573	+7.1%	Cons. · Japanese GAAP
FYE Mar 2019	555	−3.2%	Cons. · Japanese GAAP
FYE Mar 2020	581	+4.7%	Cons. · Japanese GAAP
FYE Mar 2021	553	−4.9%	Cons. · Japanese GAAP
FYE Mar 2022	388	−29.7%	Cons. · Japanese GAAP
FYE Mar 2023	693	+78.4%	Cons. · Japanese GAAP
FYE Mar 2024	472	−32.0%	Cons. · Japanese GAAP
FYE Mar 2025	406	−13.9%	Cons. · Japanese GAAP
FYE Mar 2026	507	+24.9%	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 ¥310bn

CAGR · 10 yrs −4.7%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	477	n/a	Cons. · Japanese GAAP
FYE Mar 2018	457	−4.1%	Cons. · Japanese GAAP
FYE Mar 2019	461	+0.9%	Cons. · Japanese GAAP
FYE Mar 2020	480	+4.0%	Cons. · Japanese GAAP
FYE Mar 2021	475	−1.0%	Cons. · Japanese GAAP
FYE Mar 2022	261	−45.0%	Cons. · Japanese GAAP
FYE Mar 2023	272	+4.1%	Cons. · Japanese GAAP
FYE Mar 2024	254	−6.3%	Cons. · Japanese GAAP
FYE Mar 2025	273	+7.3%	Cons. · Japanese GAAP
FYE Mar 2026	310	+13.3%	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 ¥198bn

CAGR · 10 yrs +14.5%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	58.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	116	+99.3%	Cons. · Japanese GAAP
FYE Mar 2019	93.7	−19.4%	Cons. · Japanese GAAP
FYE Mar 2020	101	+8.2%	Cons. · Japanese GAAP
FYE Mar 2021	77.7	−23.4%	Cons. · Japanese GAAP
FYE Mar 2022	128	+64.2%	Cons. · Japanese GAAP
FYE Mar 2023	421	+230.5%	Cons. · Japanese GAAP
FYE Mar 2024	217	−48.5%	Cons. · Japanese GAAP
FYE Mar 2025	133	−38.7%	Cons. · Japanese GAAP
FYE Mar 2026	198	+48.5%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥36bn

CAGR · 10 yrs +10.9%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	14.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.1	−8.6%	Cons. · Japanese GAAP
FYE Mar 2019	13.8	+5.5%	Cons. · Japanese GAAP
FYE Mar 2020	20.4	+48.3%	Cons. · Japanese GAAP
FYE Mar 2021	21.2	+3.8%	Cons. · Japanese GAAP
FYE Mar 2022	49.4	+133.0%	Cons. · Japanese GAAP
FYE Mar 2023	28.5	−42.3%	Cons. · Japanese GAAP
FYE Mar 2024	41.0	+43.7%	Cons. · Japanese GAAP
FYE Mar 2025	27.2	−33.7%	Cons. · Japanese GAAP
FYE Mar 2026	36.2	+33.4%	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 ¥40bn

CAGR · 10 yrs +10.1%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	17.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	17.8	+5.0%	Cons. · Japanese GAAP
FYE Mar 2019	18.1	+1.5%	Cons. · Japanese GAAP
FYE Mar 2020	19.2	+6.2%	Cons. · Japanese GAAP
FYE Mar 2021	28.4	+47.8%	Cons. · Japanese GAAP
FYE Mar 2022	40.4	+42.5%	Cons. · Japanese GAAP
FYE Mar 2023	41.1	+1.7%	Cons. · Japanese GAAP
FYE Mar 2024	35.3	−14.1%	Cons. · Japanese GAAP
FYE Mar 2025	46.6	+32.0%	Cons. · Japanese GAAP
FYE Mar 2026	40.2	−13.8%	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 ¥194bn

CAGR · 10 yrs +14.9%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	55.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	112	+100.3%	Cons. · Japanese GAAP
FYE Mar 2019	89.4	−19.9%	Cons. · Japanese GAAP
FYE Mar 2020	103	+14.8%	Cons. · Japanese GAAP
FYE Mar 2021	70.5	−31.3%	Cons. · Japanese GAAP
FYE Mar 2022	136	+93.6%	Cons. · Japanese GAAP
FYE Mar 2023	409	+199.6%	Cons. · Japanese GAAP
FYE Mar 2024	223	−45.5%	Cons. · Japanese GAAP
FYE Mar 2025	114	−49.0%	Cons. · Japanese GAAP
FYE Mar 2026	194	+70.5%	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 ¥129bn

CAGR · 10 yrs +26.3%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	15.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.5	−59.0%	Cons. · Japanese GAAP
FYE Mar 2019	35.7	+453.7%	Cons. · Japanese GAAP
FYE Mar 2020	11.6	−67.5%	Cons. · Japanese GAAP
FYE Mar 2021	10.4	−10.5%	Cons. · Japanese GAAP
FYE Mar 2022	6.3	−39.0%	Cons. · Japanese GAAP
FYE Mar 2023	7.3	+15.1%	Cons. · Japanese GAAP
FYE Mar 2024	27.4	+275.1%	Cons. · Japanese GAAP
FYE Mar 2025	6.8	−75.1%	Cons. · Japanese GAAP
FYE Mar 2026	129	+1791.3%	Cons. · Japanese GAAP

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

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥227bn

CAGR · 10 yrs +17.5%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	53.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	75.0	+41.1%	Cons. · Japanese GAAP
FYE Mar 2019	84.6	+12.8%	Cons. · Japanese GAAP
FYE Mar 2020	43.3	−48.8%	Cons. · Japanese GAAP
FYE Mar 2021	49.5	+14.3%	Cons. · Japanese GAAP
FYE Mar 2022	95.7	+93.3%	Cons. · Japanese GAAP
FYE Mar 2023	281	+193.5%	Cons. · Japanese GAAP
FYE Mar 2024	165	−41.1%	Cons. · Japanese GAAP
FYE Mar 2025	74.2	−55.2%	Cons. · Japanese GAAP
FYE Mar 2026	227	+205.8%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 17.9%

Average · 10 yrs 24.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	33.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.3	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	28.3	−4.0pp	Cons. · Japanese GAAP
FYE Mar 2020	30.2	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	31.3	+1.1pp	Cons. · Japanese GAAP
FYE Mar 2022	18.0	−13.3pp	Cons. · Japanese GAAP
FYE Mar 2023	21.1	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2024	17.7	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2025	15.4	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	17.9	+2.5pp	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 7.0%

Average · 10 yrs 6.4%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	3.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.5	+2.9pp	Cons. · Japanese GAAP
FYE Mar 2019	4.8	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2020	5.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	4.4	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2022	5.9	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2023	12.8	+6.9pp	Cons. · Japanese GAAP
FYE Mar 2024	8.2	−4.7pp	Cons. · Japanese GAAP
FYE Mar 2025	5.0	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2026	7.0	+1.9pp	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 6.8%

Average · 10 yrs 6.2%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.3	+2.8pp	Cons. · Japanese GAAP
FYE Mar 2019	4.6	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2020	5.3	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	4.0	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2022	6.3	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	12.4	+6.1pp	Cons. · Japanese GAAP
FYE Mar 2024	8.4	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2025	4.3	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2026	6.8	+2.5pp	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 8.0%

Average · 10 yrs 4.7%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	4.3	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	2.2	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2021	2.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2022	4.4	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2023	8.5	+4.1pp	Cons. · Japanese GAAP
FYE Mar 2024	6.2	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2025	2.8	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2026	8.0	+5.2pp	Cons. · Japanese GAAP

Definition: The share of revenue left after everything
Formula: Net profit ÷ revenue
Source: Securities report (XBRL)

Cost-of-sales ratio

FYE Mar 2026 82.1%

Average · 10 yrs 75.4%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	66.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	67.7	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2019	71.7	+4.0pp	Cons. · Japanese GAAP
FYE Mar 2020	69.8	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2021	68.7	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2022	82.0	+13.3pp	Cons. · Japanese GAAP
FYE Mar 2023	78.9	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2024	82.3	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2025	84.6	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	82.1	−2.5pp	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 10.9%

Average · 10 yrs 18.2%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	30.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	25.7	−4.3pp	Cons. · Japanese GAAP
FYE Mar 2019	23.5	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2020	24.9	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2021	26.9	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2022	12.1	−14.8pp	Cons. · Japanese GAAP
FYE Mar 2023	8.3	−3.9pp	Cons. · Japanese GAAP
FYE Mar 2024	9.6	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2025	10.4	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	10.9	+0.6pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by selling and administrative costs
Formula: SG&A ÷ revenue
Source: Securities report (XBRL)

Balance sheet Assets, debt and equity, and what they say about financial strength

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥3.89tn

CAGR · 10 yrs +6.4%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	2,230	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2,334	+4.7%	Cons. · Japanese GAAP
FYE Mar 2019	2,428	+4.0%	Cons. · Japanese GAAP
FYE Mar 2020	2,540	+4.6%	Cons. · Japanese GAAP
FYE Mar 2021	2,738	+7.8%	Cons. · Japanese GAAP
FYE Mar 2022	3,188	+16.4%	Cons. · Japanese GAAP
FYE Mar 2023	3,581	+12.4%	Cons. · Japanese GAAP
FYE Mar 2024	3,898	+8.8%	Cons. · Japanese GAAP
FYE Mar 2025	3,855	−1.1%	Cons. · Japanese GAAP
FYE Mar 2026	3,892	+1.0%	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 ¥1.72tn

CAGR · 10 yrs +5.1%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	1,101	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1,136	+3.1%	Cons. · Japanese GAAP
FYE Mar 2019	1,159	+2.0%	Cons. · Japanese GAAP
FYE Mar 2020	1,148	−1.0%	Cons. · Japanese GAAP
FYE Mar 2021	1,154	+0.5%	Cons. · Japanese GAAP
FYE Mar 2022	1,252	+8.5%	Cons. · Japanese GAAP
FYE Mar 2023	1,558	+24.5%	Cons. · Japanese GAAP
FYE Mar 2024	1,693	+8.7%	Cons. · Japanese GAAP
FYE Mar 2025	1,725	+1.9%	Cons. · Japanese GAAP
FYE Mar 2026	1,717	−0.5%	Cons. · Japanese GAAP

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

Interest-bearing debt

FYE Mar 2026 ¥505bn

CAGR · 10 yrs +4.6%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	337	n/a	Cons. · Japanese GAAP
FYE Mar 2018	366	+8.7%	Cons. · Japanese GAAP
FYE Mar 2019	400	+9.1%	Cons. · Japanese GAAP
FYE Mar 2020	436	+9.1%	Cons. · Japanese GAAP
FYE Mar 2021	465	+6.5%	Cons. · Japanese GAAP
FYE Mar 2022	575	+23.8%	Cons. · Japanese GAAP
FYE Mar 2023	614	+6.8%	Cons. · Japanese GAAP
FYE Mar 2024	639	+4.1%	Cons. · Japanese GAAP
FYE Mar 2025	589	−7.9%	Cons. · Japanese GAAP
FYE Mar 2026	505	−14.3%	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 ¥10bn

CAGR · 10 yrs −0.1%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	10.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.8	−24.5%	Cons. · Japanese GAAP
FYE Mar 2019	5.1	−34.2%	Cons. · Japanese GAAP
FYE Mar 2020	6.5	+26.8%	Cons. · Japanese GAAP
FYE Mar 2021	5.7	−12.3%	Cons. · Japanese GAAP
FYE Mar 2022	6.4	+11.9%	Cons. · Japanese GAAP
FYE Mar 2023	6.7	+4.5%	Cons. · Japanese GAAP
FYE Mar 2024	9.4	+41.2%	Cons. · Japanese GAAP
FYE Mar 2025	11.0	+16.9%	Cons. · Japanese GAAP
FYE Mar 2026	10.2	−7.0%	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 ¥494bn

CAGR · 10 yrs +4.7%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	327	n/a	Cons. · Japanese GAAP
FYE Mar 2018	359	+9.8%	Cons. · Japanese GAAP
FYE Mar 2019	395	+10.0%	Cons. · Japanese GAAP
FYE Mar 2020	430	+8.9%	Cons. · Japanese GAAP
FYE Mar 2021	459	+6.8%	Cons. · Japanese GAAP
FYE Mar 2022	569	+23.9%	Cons. · Japanese GAAP
FYE Mar 2023	607	+6.8%	Cons. · Japanese GAAP
FYE Mar 2024	676	+11.4%	Cons. · Japanese GAAP
FYE Mar 2025	646	−4.5%	Cons. · Japanese GAAP
FYE Mar 2026	494	−23.4%	Cons. · Japanese GAAP

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

Bonds

FYE Mar 2026 n/a

CAGR · 9 yrs +9.5%

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2017	315	n/a	Cons. · Japanese GAAP
FYE Mar 2018	295	−6.3%	Cons. · Japanese GAAP
FYE Mar 2019	335	+13.6%	Cons. · Japanese GAAP
FYE Mar 2020	405	+20.9%	Cons. · Japanese GAAP
FYE Mar 2021	475	+17.3%	Cons. · Japanese GAAP
FYE Mar 2022	549	+15.5%	Cons. · Japanese GAAP
FYE Mar 2023	549	+0.1%	Cons. · Japanese GAAP
FYE Mar 2024	659	+20.0%	Cons. · Japanese GAAP
FYE Mar 2025	651	−1.1%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: Bonds outstanding
Formula: Bonds line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥740bn

CAGR · 10 yrs +28.2%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	79.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	93.4	+17.9%	Cons. · Japanese GAAP
FYE Mar 2019	120	+28.8%	Cons. · Japanese GAAP
FYE Mar 2020	156	+29.7%	Cons. · Japanese GAAP
FYE Mar 2021	296	+89.4%	Cons. · Japanese GAAP
FYE Mar 2022	300	+1.6%	Cons. · Japanese GAAP
FYE Mar 2023	315	+4.7%	Cons. · Japanese GAAP
FYE Mar 2024	681	+116.6%	Cons. · Japanese GAAP
FYE Mar 2025	759	+11.4%	Cons. · Japanese GAAP
FYE Mar 2026	740	−2.5%	Cons. · Japanese GAAP

Definition: Assets with no physical form
Formula: Intangible assets line of the balance sheet
Source: Securities report (XBRL)

Goodwill

FYE Mar 2026 ¥5.2bn

CAGR · 10 yrs +13.9%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	1.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.3	−21.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.3	+4.1%	Cons. · Japanese GAAP
FYE Mar 2020	2.1	+57.4%	Cons. · Japanese GAAP
FYE Mar 2021	5.3	+158.8%	Cons. · Japanese GAAP
FYE Mar 2022	6.0	+13.1%	Cons. · Japanese GAAP
FYE Mar 2023	6.4	+6.5%	Cons. · Japanese GAAP
FYE Mar 2024	5.5	−13.8%	Cons. · Japanese GAAP
FYE Mar 2025	5.9	+6.7%	Cons. · Japanese GAAP
FYE Mar 2026	5.2	−12.4%	Cons. · Japanese GAAP

Definition: What an acquisition cost above the net assets it brought
Formula: Goodwill line of the balance sheet
Source: Securities report (XBRL)

Equity ratio

FYE Mar 2026 44.1%

Average · 10 yrs 44.8%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	49.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	48.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2019	47.7	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2020	45.2	−2.5pp	Cons. · Japanese GAAP
FYE Mar 2021	42.1	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2022	39.3	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2023	43.5	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2024	43.4	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	44.8	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	44.1	−0.6pp	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 29.4%

Average · 10 yrs 36.2%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	30.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	32.3	+1.7pp	Cons. · Japanese GAAP
FYE Mar 2019	34.5	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2020	38.0	+3.5pp	Cons. · Japanese GAAP
FYE Mar 2021	40.3	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2022	45.9	+5.7pp	Cons. · Japanese GAAP
FYE Mar 2023	39.4	−6.5pp	Cons. · Japanese GAAP
FYE Mar 2024	37.8	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2025	34.1	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2026	29.4	−4.7pp	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 13.2%

Average · 10 yrs 8.0%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	4.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.6	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2019	7.3	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2020	3.8	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2021	4.3	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2022	7.6	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2023	18.0	+10.4pp	Cons. · Japanese GAAP
FYE Mar 2024	9.8	−8.3pp	Cons. · Japanese GAAP
FYE Mar 2025	4.3	−5.5pp	Cons. · Japanese GAAP
FYE Mar 2026	13.2	+8.9pp	Cons. · Japanese GAAP

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

ROA return on assets

FYE Mar 2026 5.8%

Average · 10 yrs 3.5%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	2.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.2	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	3.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	1.7	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2021	1.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	3.0	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	7.8	+4.8pp	Cons. · Japanese GAAP
FYE Mar 2024	4.2	−3.6pp	Cons. · Japanese GAAP
FYE Mar 2025	1.9	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	5.8	+3.9pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 0.73×

CAGR · 10 yrs +0.3%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.71	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.76	+7.0%	Cons. · Japanese GAAP
FYE Mar 2019	0.81	+6.1%	Cons. · Japanese GAAP
FYE Mar 2020	0.76	−6.2%	Cons. · Japanese GAAP
FYE Mar 2021	0.64	−15.0%	Cons. · Japanese GAAP
FYE Mar 2022	0.68	+4.9%	Cons. · Japanese GAAP
FYE Mar 2023	0.92	+35.9%	Cons. · Japanese GAAP
FYE Mar 2024	0.68	−25.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.68	+0.1%	Cons. · Japanese GAAP
FYE Mar 2026	0.73	+6.5%	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 ¥452bn

CAGR · 10 yrs +7.3%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	239	n/a	Cons. · Japanese GAAP
FYE Mar 2018	260	+8.8%	Cons. · Japanese GAAP
FYE Mar 2019	141	−45.6%	Cons. · Japanese GAAP
FYE Mar 2020	306	+116.8%	Cons. · Japanese GAAP
FYE Mar 2021	256	−16.6%	Cons. · Japanese GAAP
FYE Mar 2022	145	−43.2%	Cons. · Japanese GAAP
FYE Mar 2023	487	+235.4%	Cons. · Japanese GAAP
FYE Mar 2024	316	−35.1%	Cons. · Japanese GAAP
FYE Mar 2025	363	+14.8%	Cons. · Japanese GAAP
FYE Mar 2026	452	+24.4%	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 -¥207bn

Average · 10 yrs -¥248bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-205	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-247	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-203	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-271	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-296	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-225	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-204	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-362	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-264	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-207	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 -¥296bn

Average · 10 yrs -¥53bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-70.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-16.7	n/a	Cons. · Japanese GAAP
FYE Mar 2019	27.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	23.2	−16.1%	Cons. · Japanese GAAP
FYE Mar 2021	52.0	+124.5%	Cons. · Japanese GAAP
FYE Mar 2022	90.5	+74.0%	Cons. · Japanese GAAP
FYE Mar 2023	-22.4	−124.8%	Cons. · Japanese GAAP
FYE Mar 2024	-58.3	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-256	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-296	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 ¥187bn

CAGR · 10 yrs +3.9%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	133	n/a	Cons. · Japanese GAAP
FYE Mar 2018	128	−3.2%	Cons. · Japanese GAAP
FYE Mar 2019	93.0	−27.5%	Cons. · Japanese GAAP
FYE Mar 2020	151	+62.5%	Cons. · Japanese GAAP
FYE Mar 2021	158	+4.4%	Cons. · Japanese GAAP
FYE Mar 2022	180	+13.9%	Cons. · Japanese GAAP
FYE Mar 2023	453	+152.3%	Cons. · Japanese GAAP
FYE Mar 2024	364	−19.7%	Cons. · Japanese GAAP
FYE Mar 2025	244	−32.9%	Cons. · Japanese GAAP
FYE Mar 2026	187	−23.4%	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 ¥245bn

CAGR · 10 yrs +24.6%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	33.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	12.6	−62.9%	Cons. · Japanese GAAP
FYE Mar 2019	-62.2	−594.2%	Cons. · Japanese GAAP
FYE Mar 2020	35.5	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-40.3	−213.6%	Cons. · Japanese GAAP
FYE Mar 2022	-79.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	284	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-45.7	−116.1%	Cons. · Japanese GAAP
FYE Mar 2025	99.6	n/a	Cons. · Japanese GAAP
FYE Mar 2026	245	+145.9%	Cons. · Japanese GAAP

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

Operating cash flow margin

FYE Mar 2026 15.9%

Average · 10 yrs 13.0%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	15.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.6	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	7.2	−7.4pp	Cons. · Japanese GAAP
FYE Mar 2020	15.9	+8.7pp	Cons. · Japanese GAAP
FYE Mar 2021	14.5	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2022	6.7	−7.7pp	Cons. · Japanese GAAP
FYE Mar 2023	14.8	+8.1pp	Cons. · Japanese GAAP
FYE Mar 2024	11.9	−2.9pp	Cons. · Japanese GAAP
FYE Mar 2025	13.8	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2026	15.9	+2.2pp	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 -¥318bn

Average · 10 yrs -¥283bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	-205	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-238	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-307	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-285	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-307	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-395	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-161	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-275	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-345	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-318	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 ¥2.75tn

Change · 10 yrs +¥1.58tn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	1,166	n/a
FYE Mar 2018	1,293	n/a
FYE Mar 2019	1,355	n/a
FYE Mar 2020	1,130	n/a
FYE Mar 2021	1,088	n/a
FYE Mar 2022	989	n/a
FYE Mar 2023	1,097	n/a
FYE Mar 2024	1,413	n/a
FYE Mar 2025	1,854	n/a
FYE Mar 2026	2,746	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 7,399¥

Change · 10 yrs +6,892¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	506	n/a
FYE Mar 2018	2,823	n/a
FYE Mar 2019	3,002	n/a
FYE Mar 2020	2,554	n/a
FYE Mar 2021	2,458	n/a
FYE Mar 2022	2,242	n/a
FYE Mar 2023	2,523	n/a
FYE Mar 2024	3,530	n/a
FYE Mar 2025	4,767	n/a
FYE Mar 2026	7,399	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 371,091,000shares

Change · 10 yrs −1,931,765,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	2,302,856,000	Parent
FYE Mar 2018	458,073,000	Parent
FYE Mar 2019	451,356,000	Parent
FYE Mar 2020	442,436,000	Parent
FYE Mar 2021	442,436,000	Parent
FYE Mar 2022	440,997,000	Parent
FYE Mar 2023	434,875,000	Parent
FYE Mar 2024	400,452,000	Parent
FYE Mar 2025	388,894,000	Parent
FYE Mar 2026	371,091,000	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 654.76¥

Change · 10 yrs +539.67¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	115.09	Cons.
FYE Mar 2018	164.12	Cons.
FYE Mar 2019	187.60	Cons.
FYE Mar 2020	97.86	Cons.
FYE Mar 2021	112.26	Cons.
FYE Mar 2022	217.67	Cons.
FYE Mar 2023	646.99	Cons.
FYE Mar 2024	401.09	Cons.
FYE Mar 2025	192.22	Cons.
FYE Mar 2026	654.76	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 4,628.17¥

Change · 10 yrs +4,149.85¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	478.32	Cons. · Japanese GAAP
FYE Mar 2018	2,480.02	Cons. · Japanese GAAP
FYE Mar 2019	2,567.94	Cons. · Japanese GAAP
FYE Mar 2020	2,594.15	Cons. · Japanese GAAP
FYE Mar 2021	2,607.87	Cons. · Japanese GAAP
FYE Mar 2022	2,838.53	Cons. · Japanese GAAP
FYE Mar 2023	3,583.57	Cons. · Japanese GAAP
FYE Mar 2024	4,228.92	Cons. · Japanese GAAP
FYE Mar 2025	4,436.80	Cons. · Japanese GAAP
FYE Mar 2026	4,628.17	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 11.30×

Average · 10 yrs 16.23×

Fiscal year	PER ×	Basis
FYE Mar 2017	22.00	Cons.
FYE Mar 2018	17.20	Cons.
FYE Mar 2019	16.00	Cons.
FYE Mar 2020	26.10	Cons.
FYE Mar 2021	21.90	Cons.
FYE Mar 2022	10.30	Cons.
FYE Mar 2023	3.90	Cons.
FYE Mar 2024	8.80	Cons.
FYE Mar 2025	24.80	Cons.
FYE Mar 2026	11.30	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 1.44×

Average · 10 yrs 1.01×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.06	Cons.
FYE Mar 2018	1.13	Cons.
FYE Mar 2019	1.17	Cons.
FYE Mar 2020	0.98	Cons.
FYE Mar 2021	0.94	Cons.
FYE Mar 2022	0.79	Cons.
FYE Mar 2023	0.70	Cons.
FYE Mar 2024	0.83	Cons.
FYE Mar 2025	1.02	Cons.
FYE Mar 2026	1.44	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 16,001people

Change · 10 yrs −822 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	16,823	n/a	Cons.
FYE Mar 2018	17,138	+1.9%	Cons.
FYE Mar 2019	16,708	−2.5%	Cons.
FYE Mar 2020	16,591	−0.7%	Cons.
FYE Mar 2021	16,858	+1.6%	Cons.
FYE Mar 2022	16,697	−1.0%	Cons.
FYE Mar 2023	15,963	−4.4%	Cons.
FYE Mar 2024	15,504	−2.9%	Cons.
FYE Mar 2025	15,572	+0.4%	Cons.
FYE Mar 2026	16,001	+2.8%	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 3,769people

Change · 10 yrs −4,450 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	8,219	n/a	Parent
FYE Mar 2018	7,862	−4.3%	Parent
FYE Mar 2019	7,343	−6.6%	Parent
FYE Mar 2020	7,215	−1.7%	Parent
FYE Mar 2021	6,882	−4.6%	Parent
FYE Mar 2022	5,958	−13.4%	Parent
FYE Mar 2023	3,060	−48.6%	Parent
FYE Mar 2024	3,190	+4.2%	Parent
FYE Mar 2025	3,276	+2.7%	Parent
FYE Mar 2026	3,769	+15.0%	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 ¥7.8m

Change · 10 yrs +¥1.4m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	6.4	n/a	Parent
FYE Mar 2018	6.4	−0.6%	Parent
FYE Mar 2019	6.6	+3.2%	Parent
FYE Mar 2020	6.6	+0.6%	Parent
FYE Mar 2021	6.7	+1.0%	Parent
FYE Mar 2022	7.0	+4.3%	Parent
FYE Mar 2023	7.2	+3.2%	Parent
FYE Mar 2024	7.4	+2.4%	Parent
FYE Mar 2025	7.6	+4.0%	Parent
FYE Mar 2026	7.8	+2.5%	Parent

Definition: Average total annual compensation, bonuses included
Formula: Average annual pay, from the employee section of the filing
Source: Securities report (XBRL)

Average age

FYE Mar 2026 43.3years

Change · 8 yrs +0.1 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	43.0	−0.5%	Parent
FYE Mar 2021	42.3	−1.6%	Parent
FYE Mar 2022	42.6	+0.7%	Parent
FYE Mar 2023	43.1	+1.2%	Parent
FYE Mar 2024	43.5	+0.9%	Parent
FYE Mar 2025	43.3	−0.5%	Parent
FYE Mar 2026	43.3	−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 19.5years

Change · 10 yrs +3.5 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	16.0	n/a	Parent
FYE Mar 2018	15.4	−3.7%	Parent
FYE Mar 2019	15.7	+1.9%	Parent
FYE Mar 2020	16.2	+3.2%	Parent
FYE Mar 2021	15.7	−3.1%	Parent
FYE Mar 2022	17.4	+10.8%	Parent
FYE Mar 2023	18.1	+4.0%	Parent
FYE Mar 2024	18.8	+3.9%	Parent
FYE Mar 2025	18.8	−0.0%	Parent
FYE Mar 2026	19.5	+3.7%	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 ¥177m

Change · 10 yrs +¥82.8m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	94.3	n/a	Cons.
FYE Mar 2018	104	+9.9%	Cons.
FYE Mar 2019	117	+13.2%	Cons.
FYE Mar 2020	116	−1.2%	Cons.
FYE Mar 2021	105	−9.8%	Cons.
FYE Mar 2022	129	+23.3%	Cons.
FYE Mar 2023	206	+59.7%	Cons.
FYE Mar 2024	172	−16.7%	Cons.
FYE Mar 2025	169	−1.4%	Cons.
FYE Mar 2026	177	+4.6%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥12.4m

Change · 10 yrs +¥8.9m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.5	n/a	Cons.
FYE Mar 2018	6.8	+95.6%	Cons.
FYE Mar 2019	5.6	−17.4%	Cons.
FYE Mar 2020	6.1	+9.0%	Cons.
FYE Mar 2021	4.6	−24.6%	Cons.
FYE Mar 2022	7.6	+65.8%	Cons.
FYE Mar 2023	26.4	+245.7%	Cons.
FYE Mar 2024	14.0	−47.0%	Cons.
FYE Mar 2025	8.5	−39.0%	Cons.
FYE Mar 2026	12.4	+44.5%	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 →

Data API

Tokyo Gas’s history, presidents and financials are published as static JSON — no key, plain GET. One API per public page, and one per section where a page carries several tables. Full specification →

/api/9531/company.json ·/api/9531/history.json ·/api/9531/ceo.json ·/api/9531/financials.json ·/api/9531/financials/segment.json ·/api/9531/financials/pl.json ·/api/9531/financials/cf.json ·/api/9531/financials/bs.json ·/api/9531/financials/employee.json ·/api/9531/financials/stock.json ·/api/9531/financials.csv ·/api/9531/financials_history.csv

/api/companies.json ·/api/decisions.json ·/api/api-manifest.json