Financials

NSD: FYE Mar 2026 and ten years of results (47 metrics)

FYE Mar 2026 · Revenue¥118bnYoY +9.3%

FYE Mar 2026 · Operating profit¥19bnYoY +13.2%

FYE Mar 2026 · Net profit¥13bnYoY +10.3%

FYE Mar 2026 · Equity ratio75.7%YoY +1.2pp

FYE Mar 2026 · Group employees4,555YoY +100

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥55bn	n/a	¥7.2bn	n/a	13.1%	¥4.5bn	Imajo Yoshikazu	—
FYE Mar 2018Consolidated	¥58bn	+5.2%	¥7.9bn	+10.4%	13.7%	¥5.4bn	Imajo Yoshikazu	—
FYE Mar 2019Consolidated	¥62bn	+6.7%	¥8.5bn	+7.2%	13.8%	¥5.8bn	Imajo Yoshikazu	HR subsidiaries merged as Stellus; segments recut to five
FYE Mar 2020Consolidated	¥65bn	+5.7%	¥9.5bn	+12.4%	14.7%	¥6.3bn	Imajo Yoshikazu	—
FYE Mar 2021Consolidated	¥66bn	+1.7%	¥9.8bn	+3.1%	14.9%	¥6.4bn	Imajo Yoshikazu	—
FYE Mar 2022Consolidated	¥71bn	+7.6%	¥11bn	+16.0%	16.0%	¥7.8bn	Imajo Yoshikazu	Five-year plan with a <span class="en-history_money" data-yen="20000000000" data-year="2021">$182.2M (¥20bn)</span> acquisition budget
FYE Mar 2023Consolidated	¥78bn	+9.5%	¥13bn	+9.7%	16.1%	¥10bn	Imajo Yoshikazu	Moves to the TSE Prime Market; acquires Trigger
FYE Mar 2024Consolidated	¥101bn	+29.9%	¥15bn	+21.2%	15.0%	¥10bn	Imajo Yoshikazu	Acquires Art Holdings and Noza (healthcare systems)
FYE Mar 2025Consolidated	¥108bn	+6.4%	¥17bn	+11.0%	15.6%	¥12bn	Imajo Yoshikazu	Revenue passes <span class="en-history_money" data-yen="100000000000" data-year="2024">$660.1M (¥100bn)</span>; Trigger absorbed
FYE Mar 2026Consolidated	¥118bn	+9.3%	¥19bn	+13.2%	16.2%	¥13bn	Imajo Yoshikazu	Operating margin 15.6%; AI partnership agreed

How it compares

NTT DATA GroupDelisted 2025

Fujitsu¥3.50tnFY2025Operating margin 9.9%

IBM Japan, Ltd.¥832bnFY2025Operating margin 5.5%

Nomura Research Institute¥815bnFY2025Operating margin 7.2%

SCSK CorporationDelisted 2026

TIS¥596bnFY2025Operating margin 12.8%BIPROGY¥434bnFY2025Operating margin 9.8%NS Solutions¥381bnFY2025Operating margin 11.6%

FujisofutoDelisted 2025

Nihonbijinesushisutemuzu¥173bnFY2025Operating margin 4.4%

NSD¥118bnFY2025Operating margin 16.2%

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 ¥118bn

CAGR · 10 yrs +8.9%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	54.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	57.7	+5.2%	Cons. · Japanese GAAP
FYE Mar 2019	61.6	+6.7%	Cons. · Japanese GAAP
FYE Mar 2020	65.1	+5.7%	Cons. · Japanese GAAP
FYE Mar 2021	66.2	+1.7%	Cons. · Japanese GAAP
FYE Mar 2022	71.2	+7.6%	Cons. · Japanese GAAP
FYE Mar 2023	78.0	+9.5%	Cons. · Japanese GAAP
FYE Mar 2024	101	+29.9%	Cons. · Japanese GAAP
FYE Mar 2025	108	+6.4%	Cons. · Japanese GAAP
FYE Mar 2026	118	+9.3%	Cons. · Japanese GAAP

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

Cost of sales

FYE Mar 2026 ¥88bn

CAGR · 10 yrs +8.1%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	43.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	46.2	+5.5%	Cons. · Japanese GAAP
FYE Mar 2019	48.6	+5.2%	Cons. · Japanese GAAP
FYE Mar 2020	51.1	+5.2%	Cons. · Japanese GAAP
FYE Mar 2021	52.1	+2.0%	Cons. · Japanese GAAP
FYE Mar 2022	55.4	+6.1%	Cons. · Japanese GAAP
FYE Mar 2023	60.4	+9.2%	Cons. · Japanese GAAP
FYE Mar 2024	76.3	+26.3%	Cons. · Japanese GAAP
FYE Mar 2025	80.3	+5.2%	Cons. · Japanese GAAP
FYE Mar 2026	88.0	+9.6%	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 ¥30bn

CAGR · 10 yrs +11.2%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	11.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.9	+3.8%	Cons. · Japanese GAAP
FYE Mar 2019	13.0	+9.1%	Cons. · Japanese GAAP
FYE Mar 2020	13.9	+7.4%	Cons. · Japanese GAAP
FYE Mar 2021	14.0	+0.7%	Cons. · Japanese GAAP
FYE Mar 2022	15.8	+12.8%	Cons. · Japanese GAAP
FYE Mar 2023	17.6	+10.8%	Cons. · Japanese GAAP
FYE Mar 2024	25.0	+42.2%	Cons. · Japanese GAAP
FYE Mar 2025	27.5	+10.3%	Cons. · Japanese GAAP
FYE Mar 2026	29.8	+8.3%	Cons. · Japanese GAAP

Definition: What the product or service itself earns
Formula: Revenue − cost of sales
Source: Securities report (XBRL)

SG&A selling, general and administrative expenses

FYE Mar 2026 ¥11bn

CAGR · 10 yrs +10.7%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	4.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	4.0	−7.2%	Cons. · Japanese GAAP
FYE Mar 2019	4.5	+12.7%	Cons. · Japanese GAAP
FYE Mar 2020	4.4	−2.1%	Cons. · Japanese GAAP
FYE Mar 2021	4.2	−4.6%	Cons. · Japanese GAAP
FYE Mar 2022	4.4	+5.4%	Cons. · Japanese GAAP
FYE Mar 2023	5.0	+13.6%	Cons. · Japanese GAAP
FYE Mar 2024	9.8	+94.6%	Cons. · Japanese GAAP
FYE Mar 2025	10.7	+9.2%	Cons. · Japanese GAAP
FYE Mar 2026	10.8	+0.6%	Cons. · Japanese GAAP

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

Operating profit

FYE Mar 2026 ¥19bn

CAGR · 10 yrs +11.5%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	7.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.9	+10.4%	Cons. · Japanese GAAP
FYE Mar 2019	8.5	+7.2%	Cons. · Japanese GAAP
FYE Mar 2020	9.5	+12.4%	Cons. · Japanese GAAP
FYE Mar 2021	9.8	+3.1%	Cons. · Japanese GAAP
FYE Mar 2022	11.4	+16.0%	Cons. · Japanese GAAP
FYE Mar 2023	12.5	+9.7%	Cons. · Japanese GAAP
FYE Mar 2024	15.2	+21.2%	Cons. · Japanese GAAP
FYE Mar 2025	16.8	+11.0%	Cons. · Japanese GAAP
FYE Mar 2026	19.1	+13.2%	Cons. · Japanese GAAP

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

Non-operating income

FYE Mar 2026 ¥325m

CAGR · 10 yrs +8.7%

Fiscal year	Non-operating income ¥ m	YoY	Basis
FYE Mar 2017	153	n/a	Cons. · Japanese GAAP
FYE Mar 2018	217	+41.2%	Cons. · Japanese GAAP
FYE Mar 2019	548	+153.1%	Cons. · Japanese GAAP
FYE Mar 2020	377	−31.3%	Cons. · Japanese GAAP
FYE Mar 2021	221	−41.4%	Cons. · Japanese GAAP
FYE Mar 2022	296	+34.2%	Cons. · Japanese GAAP
FYE Mar 2023	214	−27.8%	Cons. · Japanese GAAP
FYE Mar 2024	279	+30.4%	Cons. · Japanese GAAP
FYE Mar 2025	338	+21.1%	Cons. · Japanese GAAP
FYE Mar 2026	325	−3.8%	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 ¥72.0m

CAGR · 10 yrs +12.0%

Fiscal year	Non-operating expenses ¥ m	YoY	Basis
FYE Mar 2017	26.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	15.3	−41.2%	Cons. · Japanese GAAP
FYE Mar 2019	285	+1756.8%	Cons. · Japanese GAAP
FYE Mar 2020	260	−8.5%	Cons. · Japanese GAAP
FYE Mar 2021	108	−58.5%	Cons. · Japanese GAAP
FYE Mar 2022	57.2	−47.0%	Cons. · Japanese GAAP
FYE Mar 2023	76.0	+32.8%	Cons. · Japanese GAAP
FYE Mar 2024	119	+56.6%	Cons. · Japanese GAAP
FYE Mar 2025	149	+25.2%	Cons. · Japanese GAAP
FYE Mar 2026	72.0	−51.7%	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 ¥19bn

CAGR · 10 yrs +11.4%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	8.1	+11.2%	Cons. · Japanese GAAP
FYE Mar 2019	8.8	+7.8%	Cons. · Japanese GAAP
FYE Mar 2020	9.7	+10.3%	Cons. · Japanese GAAP
FYE Mar 2021	10.0	+3.0%	Cons. · Japanese GAAP
FYE Mar 2022	11.7	+17.1%	Cons. · Japanese GAAP
FYE Mar 2023	12.7	+8.6%	Cons. · Japanese GAAP
FYE Mar 2024	15.3	+21.1%	Cons. · Japanese GAAP
FYE Mar 2025	17.0	+11.1%	Cons. · Japanese GAAP
FYE Mar 2026	19.3	+13.4%	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 income

FYE Mar 2026 ¥0.1bn

CAGR · 10 yrs +30.7%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.1	+678.7%	Cons. · Japanese GAAP
FYE Mar 2019	0.0	−94.5%	Cons. · Japanese GAAP
FYE Mar 2020	0.2	+7374.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.0	−99.9%	Cons. · Japanese GAAP
FYE Mar 2022	0.0	+2329.2%	Cons. · Japanese GAAP
FYE Mar 2023	2.2	+36795.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.0	−98.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.1	+21.4%	Cons. · Japanese GAAP
FYE Mar 2026	0.1	+56.9%	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 ¥13bn

CAGR · 10 yrs +12.4%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	4.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	5.4	+18.2%	Cons. · Japanese GAAP
FYE Mar 2019	5.8	+8.3%	Cons. · Japanese GAAP
FYE Mar 2020	6.3	+8.5%	Cons. · Japanese GAAP
FYE Mar 2021	6.4	+0.9%	Cons. · Japanese GAAP
FYE Mar 2022	7.8	+22.8%	Cons. · Japanese GAAP
FYE Mar 2023	10.2	+30.6%	Cons. · Japanese GAAP
FYE Mar 2024	10.3	+0.4%	Cons. · Japanese GAAP
FYE Mar 2025	11.8	+14.9%	Cons. · Japanese GAAP
FYE Mar 2026	13.0	+10.3%	Cons. · Japanese GAAP

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

Gross margin

FYE Mar 2026 25.3%

Average · 10 yrs 22.6%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	20.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	20.6	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	21.1	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	21.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	21.2	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	22.2	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	22.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	24.6	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2025	25.5	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	25.3	−0.2pp	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 16.2%

Average · 10 yrs 14.9%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	13.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	13.7	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	13.8	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	14.7	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2021	14.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	16.0	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	16.1	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	15.0	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	15.6	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	16.2	+0.6pp	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 16.4%

Average · 10 yrs 15.1%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	13.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	14.1	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2019	14.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	14.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	15.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	16.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2023	16.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	15.1	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2025	15.8	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2026	16.4	+0.6pp	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 11.0%

Average · 10 yrs 10.3%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	8.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.3	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	9.4	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2020	9.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	9.6	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	11.0	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	13.1	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2024	10.1	−3.0pp	Cons. · Japanese GAAP
FYE Mar 2025	10.9	+0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	11.0	+0.1pp	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 74.7%

Average · 10 yrs 77.6%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	79.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	80.0	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	78.9	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2020	78.6	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2021	78.8	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	77.8	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2023	77.5	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	75.4	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2025	74.5	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	74.7	+0.2pp	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 9.1%

Average · 10 yrs 7.7%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	7.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2019	7.3	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	6.8	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	6.3	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2022	6.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	6.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	9.7	+3.2pp	Cons. · Japanese GAAP
FYE Mar 2025	9.9	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	9.1	−0.8pp	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 ¥97bn

CAGR · 10 yrs +7.5%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	50.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	54.0	+6.2%	Cons. · Japanese GAAP
FYE Mar 2019	55.9	+3.4%	Cons. · Japanese GAAP
FYE Mar 2020	53.9	−3.6%	Cons. · Japanese GAAP
FYE Mar 2021	59.5	+10.3%	Cons. · Japanese GAAP
FYE Mar 2022	63.3	+6.4%	Cons. · Japanese GAAP
FYE Mar 2023	68.2	+7.7%	Cons. · Japanese GAAP
FYE Mar 2024	86.4	+26.8%	Cons. · Japanese GAAP
FYE Mar 2025	90.5	+4.7%	Cons. · Japanese GAAP
FYE Mar 2026	97.4	+7.7%	Cons. · Japanese GAAP

Definition: Everything the company holds
Formula: Total assets line of the balance sheet
Source: Securities report (XBRL)

Equity net assets, shareholders' equity

FYE Mar 2026 ¥74bn

CAGR · 10 yrs +6.1%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	43.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	45.4	+4.6%	Cons. · Japanese GAAP
FYE Mar 2019	46.9	+3.4%	Cons. · Japanese GAAP
FYE Mar 2020	44.4	−5.2%	Cons. · Japanese GAAP
FYE Mar 2021	48.6	+9.4%	Cons. · Japanese GAAP
FYE Mar 2022	51.2	+5.3%	Cons. · Japanese GAAP
FYE Mar 2023	54.7	+6.9%	Cons. · Japanese GAAP
FYE Mar 2024	62.4	+14.0%	Cons. · Japanese GAAP
FYE Mar 2025	67.4	+8.1%	Cons. · Japanese GAAP
FYE Mar 2026	73.8	+9.4%	Cons. · Japanese GAAP

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

Interest-bearing debt

FYE Mar 2026 ¥0.0bn

Average · 4 yrs ¥1.1bn

Fiscal year	Interest-bearing debt ¥ 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	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2025	1.6	−42.7%	Cons. · Japanese GAAP
FYE Mar 2026	0.0	−100.0%	Cons. · Japanese GAAP

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

Intangible assets

FYE Mar 2026 ¥17bn

CAGR · 10 yrs +34.8%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	1.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.6	+129.3%	Cons. · Japanese GAAP
FYE Mar 2019	2.4	−9.8%	Cons. · Japanese GAAP
FYE Mar 2020	2.4	+0.2%	Cons. · Japanese GAAP
FYE Mar 2021	2.3	−4.5%	Cons. · Japanese GAAP
FYE Mar 2022	1.9	−16.6%	Cons. · Japanese GAAP
FYE Mar 2023	3.2	+67.6%	Cons. · Japanese GAAP
FYE Mar 2024	19.8	+522.7%	Cons. · Japanese GAAP
FYE Mar 2025	18.4	−6.9%	Cons. · Japanese GAAP
FYE Mar 2026	16.8	−8.7%	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 ¥8.2bn

CAGR · 10 yrs +34.8%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.1	+269.7%	Cons. · Japanese GAAP
FYE Mar 2019	1.8	−10.6%	Cons. · Japanese GAAP
FYE Mar 2020	1.7	−6.5%	Cons. · Japanese GAAP
FYE Mar 2021	1.5	−13.8%	Cons. · Japanese GAAP
FYE Mar 2022	1.3	−14.9%	Cons. · Japanese GAAP
FYE Mar 2023	2.6	+104.4%	Cons. · Japanese GAAP
FYE Mar 2024	10.3	+299.0%	Cons. · Japanese GAAP
FYE Mar 2025	9.5	−7.8%	Cons. · Japanese GAAP
FYE Mar 2026	8.2	−13.7%	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 75.7%

Average · 10 yrs 80.1%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	85.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	83.9	−1.3pp	Cons. · Japanese GAAP
FYE Mar 2019	83.9	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	82.5	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	81.8	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2022	80.9	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2023	80.3	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	72.2	−8.1pp	Cons. · Japanese GAAP
FYE Mar 2025	74.5	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2026	75.7	+1.2pp	Cons. · Japanese GAAP

Definition: How much of the balance sheet is funded without debt
Formula: Equity ÷ total assets
Source: Securities report (XBRL)

Debt-to-equity ratio D/E ratio

FYE Mar 2026 0.0%

Average · 4 yrs 1.7%

Fiscal year	Debt-to-equity 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	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2023	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	4.3	+4.3pp	Cons. · Japanese GAAP
FYE Mar 2025	2.3	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2026	0.0	−2.3pp	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 17.6%

Average · 10 yrs 14.8%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	10.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.8	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2019	12.4	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2020	14.2	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2021	13.1	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2022	15.3	+2.2pp	Cons. · Japanese GAAP
FYE Mar 2023	18.7	+3.4pp	Cons. · Japanese GAAP
FYE Mar 2024	16.5	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2025	17.5	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	17.6	+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 13.4%

Average · 10 yrs 11.7%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	8.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.9	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2019	10.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	11.7	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2021	10.7	−1.0pp	Cons. · Japanese GAAP
FYE Mar 2022	12.4	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2023	15.0	+2.6pp	Cons. · Japanese GAAP
FYE Mar 2024	11.9	−3.1pp	Cons. · Japanese GAAP
FYE Mar 2025	13.0	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	13.4	+0.3pp	Cons. · Japanese GAAP

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

Asset turnover

FYE Mar 2026 1.21×

CAGR · 10 yrs +1.3%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	1.08	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.07	−0.9%	Cons. · Japanese GAAP
FYE Mar 2019	1.10	+3.2%	Cons. · Japanese GAAP
FYE Mar 2020	1.21	+9.6%	Cons. · Japanese GAAP
FYE Mar 2021	1.11	−7.8%	Cons. · Japanese GAAP
FYE Mar 2022	1.13	+1.1%	Cons. · Japanese GAAP
FYE Mar 2023	1.14	+1.7%	Cons. · Japanese GAAP
FYE Mar 2024	1.17	+2.4%	Cons. · Japanese GAAP
FYE Mar 2025	1.19	+1.6%	Cons. · Japanese GAAP
FYE Mar 2026	1.21	+1.5%	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 ¥16bn

CAGR · 10 yrs +13.6%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	5.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	6.5	+26.2%	Cons. · Japanese GAAP
FYE Mar 2019	5.5	−15.4%	Cons. · Japanese GAAP
FYE Mar 2020	6.8	+23.9%	Cons. · Japanese GAAP
FYE Mar 2021	8.2	+20.6%	Cons. · Japanese GAAP
FYE Mar 2022	7.2	−11.2%	Cons. · Japanese GAAP
FYE Mar 2023	10.1	+39.0%	Cons. · Japanese GAAP
FYE Mar 2024	12.2	+21.1%	Cons. · Japanese GAAP
FYE Mar 2025	12.3	+0.9%	Cons. · Japanese GAAP
FYE Mar 2026	16.2	+31.4%	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 -¥3.1bn

Average · 10 yrs -¥1.5bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	1.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-5.8	−488.0%	Cons. · Japanese GAAP
FYE Mar 2019	-0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2020	4.3	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-0.7	−115.4%	Cons. · Japanese GAAP
FYE Mar 2022	-0.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-17.8	−396.6%	Cons. · Japanese GAAP
FYE Mar 2025	0.9	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-3.1	−441.2%	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 -¥11bn

Average · 10 yrs -¥6.3bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-2.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-4.6	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-8.6	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-6.1	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-7.6	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-10.3	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-10.5	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 ¥32bn

CAGR · 10 yrs +3.0%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	24.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	22.2	−10.9%	Cons. · Japanese GAAP
FYE Mar 2019	22.7	+2.3%	Cons. · Japanese GAAP
FYE Mar 2020	25.2	+11.0%	Cons. · Japanese GAAP
FYE Mar 2021	29.0	+15.3%	Cons. · Japanese GAAP
FYE Mar 2022	29.8	+2.5%	Cons. · Japanese GAAP
FYE Mar 2023	38.3	+28.7%	Cons. · Japanese GAAP
FYE Mar 2024	27.0	−29.5%	Cons. · Japanese GAAP
FYE Mar 2025	29.9	+10.8%	Cons. · Japanese GAAP
FYE Mar 2026	32.5	+8.7%	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 ¥13bn

CAGR · 10 yrs +7.9%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	6.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.6	−90.4%	Cons. · Japanese GAAP
FYE Mar 2019	5.0	+695.2%	Cons. · Japanese GAAP
FYE Mar 2020	11.0	+118.8%	Cons. · Japanese GAAP
FYE Mar 2021	7.5	−32.1%	Cons. · Japanese GAAP
FYE Mar 2022	6.9	−8.4%	Cons. · Japanese GAAP
FYE Mar 2023	16.1	+134.2%	Cons. · Japanese GAAP
FYE Mar 2024	-5.7	−135.2%	Cons. · Japanese GAAP
FYE Mar 2025	13.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	13.1	−1.0%	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 13.7%

Average · 10 yrs 11.2%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	9.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.2	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2019	8.9	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2020	10.4	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2021	12.3	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2022	10.2	−2.1pp	Cons. · Japanese GAAP
FYE Mar 2023	12.9	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2024	12.0	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	11.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2026	13.7	+2.3pp	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 ¥32bn

CAGR · 4 yrs −5.3%

Fiscal year	Net cash ¥ 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	38.3	n/a	Cons. · Japanese GAAP
FYE Mar 2024	24.3	−36.6%	Cons. · Japanese GAAP
FYE Mar 2025	28.4	+16.8%	Cons. · Japanese GAAP
FYE Mar 2026	32.5	+14.6%	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 ¥236bn

Change · 10 yrs +¥158bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	77.5	n/a
FYE Mar 2018	102	n/a
FYE Mar 2019	122	n/a
FYE Mar 2020	133	n/a
FYE Mar 2021	170	n/a
FYE Mar 2022	197	n/a
FYE Mar 2023	207	n/a
FYE Mar 2024	256	n/a
FYE Mar 2025	288	n/a
FYE Mar 2026	236	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 2,740¥

Change · 10 yrs +1,132¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,608	n/a
FYE Mar 2018	2,171	n/a
FYE Mar 2019	2,577	n/a
FYE Mar 2020	1,440	n/a
FYE Mar 2021	1,841	n/a
FYE Mar 2022	2,192	n/a
FYE Mar 2023	2,384	n/a
FYE Mar 2024	2,976	n/a
FYE Mar 2025	3,344	n/a
FYE Mar 2026	2,740	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 86,000,000shares

Change · 10 yrs +37,828,000 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	48,172,000	Parent
FYE Mar 2018	47,172,000	Parent
FYE Mar 2019	47,172,000	Parent
FYE Mar 2020	92,344,000	Parent
FYE Mar 2021	92,344,000	Parent
FYE Mar 2022	90,000,000	Parent
FYE Mar 2023	87,000,000	Parent
FYE Mar 2024	86,000,000	Parent
FYE Mar 2025	86,000,000	Parent
FYE Mar 2026	86,000,000	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 170.49¥

Change · 10 yrs +117.59¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	52.90	Cons.
FYE Mar 2018	63.38	Cons.
FYE Mar 2019	69.65	Cons.
FYE Mar 2020	78.21	Cons.
FYE Mar 2021	80.10	Cons.
FYE Mar 2022	99.37	Cons.
FYE Mar 2023	132.31	Cons.
FYE Mar 2024	133.29	Cons.
FYE Mar 2025	153.61	Cons.
FYE Mar 2026	170.49	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 857.60¥

Change · 10 yrs −42.81¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	900.41	Cons. · Japanese GAAP
FYE Mar 2018	961.76	Cons. · Japanese GAAP
FYE Mar 2019	994.21	Cons. · Japanese GAAP
FYE Mar 2020	481.21	Cons. · Japanese GAAP
FYE Mar 2021	526.41	Cons. · Japanese GAAP
FYE Mar 2022	568.83	Cons. · Japanese GAAP
FYE Mar 2023	628.84	Cons. · Japanese GAAP
FYE Mar 2024	725.24	Cons. · Japanese GAAP
FYE Mar 2025	783.91	Cons. · Japanese GAAP
FYE Mar 2026	857.60	Cons. · Japanese GAAP

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

PER price-to-earnings ratio

FYE Mar 2026 16.07×

Average · 10 yrs 19.25×

Fiscal year	PER ×	Basis
FYE Mar 2017	15.20	Cons.
FYE Mar 2018	17.13	Cons.
FYE Mar 2019	18.50	Cons.
FYE Mar 2020	18.41	Cons.
FYE Mar 2021	22.98	Cons.
FYE Mar 2022	22.06	Cons.
FYE Mar 2023	18.02	Cons.
FYE Mar 2024	22.33	Cons.
FYE Mar 2025	21.77	Cons.
FYE Mar 2026	16.07	Cons.

Definition: How many years of earnings the price stands for
Formula: Year-end price ÷ EPS
Source: Securities report (XBRL)

PBR price-to-book ratio

FYE Mar 2026 2.82×

Average · 10 yrs 2.84×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.59	Cons.
FYE Mar 2018	2.02	Cons.
FYE Mar 2019	2.28	Cons.
FYE Mar 2020	2.58	Cons.
FYE Mar 2021	3.00	Cons.
FYE Mar 2022	3.33	Cons.
FYE Mar 2023	3.35	Cons.
FYE Mar 2024	3.67	Cons.
FYE Mar 2025	3.79	Cons.
FYE Mar 2026	2.82	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 4,555people

Change · 10 yrs +1,240 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	3,315	n/a	Cons.
FYE Mar 2018	3,379	+1.9%	Cons.
FYE Mar 2019	3,428	+1.5%	Cons.
FYE Mar 2020	3,467	+1.1%	Cons.
FYE Mar 2021	3,522	+1.6%	Cons.
FYE Mar 2022	3,560	+1.1%	Cons.
FYE Mar 2023	3,595	+1.0%	Cons.
FYE Mar 2024	4,380	+21.8%	Cons.
FYE Mar 2025	4,455	+1.7%	Cons.
FYE Mar 2026	4,555	+2.2%	Cons.

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

Parent-company employees

FYE Mar 2026 3,305people

Change · 10 yrs +338 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	2,967	n/a	Parent
FYE Mar 2018	2,975	+0.3%	Parent
FYE Mar 2019	3,003	+0.9%	Parent
FYE Mar 2020	3,051	+1.6%	Parent
FYE Mar 2021	3,080	+1.0%	Parent
FYE Mar 2022	3,106	+0.8%	Parent
FYE Mar 2023	3,109	+0.1%	Parent
FYE Mar 2024	3,133	+0.8%	Parent
FYE Mar 2025	3,256	+3.9%	Parent
FYE Mar 2026	3,305	+1.5%	Parent

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

Average annual pay parent company

FYE Mar 2026 751万円

Change · 8 yrs +115万円

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	636	n/a	Parent
FYE Mar 2020	641	+0.8%	Parent
FYE Mar 2021	642	+0.2%	Parent
FYE Mar 2022	652	+1.4%	Parent
FYE Mar 2023	671	+3.1%	Parent
FYE Mar 2024	696	+3.7%	Parent
FYE Mar 2025	717	+3.0%	Parent
FYE Mar 2026	751	+4.8%	Parent

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

Average age

FYE Mar 2026 39.2years

Change · 8 yrs +0.6 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	38.6	n/a	Parent
FYE Mar 2020	38.9	+0.8%	Parent
FYE Mar 2021	39.1	+0.5%	Parent
FYE Mar 2022	39.3	+0.5%	Parent
FYE Mar 2023	39.4	+0.3%	Parent
FYE Mar 2024	39.4	−0.0%	Parent
FYE Mar 2025	39.5	+0.3%	Parent
FYE Mar 2026	39.2	−0.8%	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 14.9years

Change · 8 yrs +0.6 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	14.3	n/a	Parent
FYE Mar 2020	14.6	+2.1%	Parent
FYE Mar 2021	14.8	+1.4%	Parent
FYE Mar 2022	15.0	+1.4%	Parent
FYE Mar 2023	15.3	+2.0%	Parent
FYE Mar 2024	15.3	−0.0%	Parent
FYE Mar 2025	15.3	−0.0%	Parent
FYE Mar 2026	14.9	−2.6%	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 ¥25.9m

Change · 10 yrs +¥9.3m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	16.5	n/a	Cons.
FYE Mar 2018	17.1	+3.2%	Cons.
FYE Mar 2019	18.0	+5.2%	Cons.
FYE Mar 2020	18.8	+4.5%	Cons.
FYE Mar 2021	18.8	+0.1%	Cons.
FYE Mar 2022	20.0	+6.4%	Cons.
FYE Mar 2023	21.7	+8.5%	Cons.
FYE Mar 2024	23.1	+6.6%	Cons.
FYE Mar 2025	24.2	+4.7%	Cons.
FYE Mar 2026	25.9	+6.9%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥4.2m

Change · 10 yrs +¥2.0m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	2.2	n/a	Cons.
FYE Mar 2018	2.3	+8.3%	Cons.
FYE Mar 2019	2.5	+5.7%	Cons.
FYE Mar 2020	2.8	+11.1%	Cons.
FYE Mar 2021	2.8	+1.5%	Cons.
FYE Mar 2022	3.2	+14.7%	Cons.
FYE Mar 2023	3.5	+8.6%	Cons.
FYE Mar 2024	3.5	−0.5%	Cons.
FYE Mar 2025	3.8	+9.1%	Cons.
FYE Mar 2026	4.2	+10.7%	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.

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