Financials

Nitori Holdings: FYE Mar 2026 and ten years of results (51 metrics)

FYE Mar 2026 · Revenue¥912bnYoY −1.8%

FYE Mar 2026 · Operating profit¥126bnYoY +6.7%

FYE Mar 2026 · Net profit¥89bnYoY +16.1%

FYE Mar 2026 · Equity ratio62.9%YoY −8.6pp

FYE Mar 2026 · Group employees19,432YoY −535

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Feb 2017Consolidated	¥513bn	n/a	¥86bn	n/a	16.7%	¥60bn	Nitori Akio	<a class="en-history_person" href="/tse/9843/executives/ceo/shirai-toshiyuki/" hreflang="ja">Shirai Toshiyuki</a> becomes president in February
FYE Feb 2018Consolidated	¥572bn	+11.5%	¥93bn	+8.9%	16.3%	¥64bn	Shirai Toshiyuki	Kachitas becomes an equity-method affiliate in May
FYE Feb 2019Consolidated	¥608bn	+6.3%	¥101bn	+7.9%	16.6%	¥68bn	Shirai Toshiyuki	Taicang distribution centre opens; entry into apparel in December
FYE Feb 2020Consolidated	¥642bn	+5.6%	¥107bn	+6.6%	16.7%	¥71bn	Shirai Toshiyuki	—
FYE Feb 2021Consolidated	¥717bn	+11.6%	¥138bn	+28.1%	19.2%	¥92bn	Shirai Toshiyuki	NITORI RETAIL (MALAYSIA) established in March
FYE Feb 2022Consolidated	¥812bn	+13.2%	¥138bn	+0.4%	17.0%	¥97bn	Shirai Toshiyuki	—
FYE Mar 2023Consolidated	¥948bn	+16.8%	¥140bn	+1.3%	14.8%	¥95bn	Shirai Toshiyuki	—
FYE Mar 2024Consolidated	¥896bn	−5.5%	¥124bn	−11.3%	13.9%	¥87bn	Shirai Toshiyuki	—
FYE Mar 2025Consolidated	¥929bn	+3.7%	¥118bn	−5.3%	12.7%	¥77bn	Shirai Toshiyuki	—
FYE Mar 2026Consolidated	¥912bn	−1.8%	¥126bn	+6.7%	13.8%	¥89bn	Shirai Toshiyuki	—

How it compares

Nitori Holdings¥912bnFY2025Operating margin 13.8%

Ryohin Keikaku (Muji)¥785bnFY2025Operating margin 9.4%

Income statement Revenue, costs, each level of profit and the margins they leave

Where the revenue goes

¥ bn

Cost of sales SG&A Other operating costs Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥912bn

CAGR · 10 yrs +6.6%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Feb 2017	513	n/a	Cons. · Japanese GAAP
FYE Feb 2018	572	+11.5%	Cons. · Japanese GAAP
FYE Feb 2019	608	+6.3%	Cons. · Japanese GAAP
FYE Feb 2020	642	+5.6%	Cons. · Japanese GAAP
FYE Feb 2021	717	+11.6%	Cons. · Japanese GAAP
FYE Feb 2022	812	+13.2%	Cons. · Japanese GAAP
FYE Mar 2023	948	+16.8%	Cons. · Japanese GAAP
FYE Mar 2024	896	−5.5%	Cons. · Japanese GAAP
FYE Mar 2025	929	moved to IFRS	Cons. · IFRS
FYE Mar 2026	912	−1.8%	Cons. · IFRS

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 ¥427bn

CAGR · 10 yrs +6.9%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Feb 2017	235	n/a	Cons. · Japanese GAAP
FYE Feb 2018	257	+9.6%	Cons. · Japanese GAAP
FYE Feb 2019	277	+7.6%	Cons. · Japanese GAAP
FYE Feb 2020	288	+4.0%	Cons. · Japanese GAAP
FYE Feb 2021	305	+6.0%	Cons. · Japanese GAAP
FYE Feb 2022	386	+26.4%	Cons. · Japanese GAAP
FYE Mar 2023	470	+21.9%	Cons. · Japanese GAAP
FYE Mar 2024	439	−6.5%	Cons. · Japanese GAAP
FYE Mar 2025	455	moved to IFRS	Cons. · IFRS
FYE Mar 2026	427	−6.2%	Cons. · IFRS

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 ¥485bn

CAGR · 10 yrs +6.4%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Feb 2017	278	n/a	Cons. · Japanese GAAP
FYE Feb 2018	315	+13.1%	Cons. · Japanese GAAP
FYE Feb 2019	331	+5.3%	Cons. · Japanese GAAP
FYE Feb 2020	354	+6.9%	Cons. · Japanese GAAP
FYE Feb 2021	412	+16.2%	Cons. · Japanese GAAP
FYE Feb 2022	426	+3.4%	Cons. · Japanese GAAP
FYE Mar 2023	478	+12.3%	Cons. · Japanese GAAP
FYE Mar 2024	457	−4.3%	Cons. · Japanese GAAP
FYE Mar 2025	474	moved to IFRS	Cons. · IFRS
FYE Mar 2026	485	+2.4%	Cons. · IFRS

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 ¥364bn

CAGR · 10 yrs +7.3%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Feb 2017	192	n/a	Cons. · Japanese GAAP
FYE Feb 2018	221	+15.0%	Cons. · Japanese GAAP
FYE Feb 2019	231	+4.2%	Cons. · Japanese GAAP
FYE Feb 2020	247	+7.0%	Cons. · Japanese GAAP
FYE Feb 2021	274	+11.0%	Cons. · Japanese GAAP
FYE Feb 2022	288	+4.9%	Cons. · Japanese GAAP
FYE Mar 2023	338	+17.5%	Cons. · Japanese GAAP
FYE Mar 2024	323	−4.5%	Cons. · Japanese GAAP
FYE Mar 2025	349	moved to IFRS	Cons. · IFRS
FYE Mar 2026	364	+4.4%	Cons. · IFRS

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 ¥126bn

CAGR · 10 yrs +4.3%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Feb 2017	85.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	93.4	+8.9%	Cons. · Japanese GAAP
FYE Feb 2019	101	+7.9%	Cons. · Japanese GAAP
FYE Feb 2020	107	+6.6%	Cons. · Japanese GAAP
FYE Feb 2021	138	+28.1%	Cons. · Japanese GAAP
FYE Feb 2022	138	+0.4%	Cons. · Japanese GAAP
FYE Mar 2023	140	+1.3%	Cons. · Japanese GAAP
FYE Mar 2024	124	−11.3%	Cons. · Japanese GAAP
FYE Mar 2025	118	moved to IFRS	Cons. · IFRS
FYE Mar 2026	126	+6.7%	Cons. · IFRS

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

Non-operating income

FYE Mar 2026 ¥6.0bn

CAGR · 10 yrs +13.8%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Feb 2017	1.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	1.8	−1.7%	Cons. · Japanese GAAP
FYE Feb 2019	2.6	+39.7%	Cons. · Japanese GAAP
FYE Feb 2020	2.5	−3.3%	Cons. · Japanese GAAP
FYE Feb 2021	2.4	−4.6%	Cons. · Japanese GAAP
FYE Feb 2022	4.4	+86.9%	Cons. · Japanese GAAP
FYE Mar 2023	4.8	+7.8%	Cons. · Japanese GAAP
FYE Mar 2024	3.1	−35.8%	Cons. · Japanese GAAP
FYE Mar 2025	3.0	moved to IFRS	Cons. · IFRS
FYE Mar 2026	6.0	+97.9%	Cons. · IFRS

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 ¥4.1bn

CAGR · 10 yrs +55.5%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Feb 2017	0.1	n/a	Cons. · Japanese GAAP
FYE Feb 2018	0.4	+350.0%	Cons. · Japanese GAAP
FYE Feb 2019	0.3	−18.5%	Cons. · Japanese GAAP
FYE Feb 2020	0.4	+51.0%	Cons. · Japanese GAAP
FYE Feb 2021	1.6	+275.9%	Cons. · Japanese GAAP
FYE Feb 2022	0.8	−48.3%	Cons. · Japanese GAAP
FYE Mar 2023	0.8	−10.6%	Cons. · Japanese GAAP
FYE Mar 2024	2.5	+231.8%	Cons. · Japanese GAAP
FYE Mar 2025	3.2	moved to IFRS	Cons. · IFRS
FYE Mar 2026	4.1	+28.1%	Cons. · IFRS

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 n/a

CAGR · 8 yrs +6.1%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Feb 2017	87.6	n/a	Cons. · Japanese GAAP
FYE Feb 2018	94.9	+8.3%	Cons. · Japanese GAAP
FYE Feb 2019	103	+8.6%	Cons. · Japanese GAAP
FYE Feb 2020	110	+6.3%	Cons. · Japanese GAAP
FYE Feb 2021	138	+26.4%	Cons. · Japanese GAAP
FYE Feb 2022	142	+2.5%	Cons. · Japanese GAAP
FYE Mar 2023	144	+1.6%	Cons. · Japanese GAAP
FYE Mar 2024	132	−8.1%	Cons. · Japanese GAAP
FYE Mar 2025	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 n/a

CAGR · 8 yrs +12.1%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Feb 2017	0.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	4.1	+415.5%	Cons. · Japanese GAAP
FYE Feb 2019	0.1	−97.5%	Cons. · Japanese GAAP
FYE Feb 2020	0.6	+513.7%	Cons. · Japanese GAAP
FYE Feb 2021	0.8	+22.5%	Cons. · Japanese GAAP
FYE Feb 2022	0.8	+4.3%	Cons. · Japanese GAAP
FYE Mar 2023	0.0	−97.9%	Cons. · Japanese GAAP
FYE Mar 2024	1.8	+10394.1%	Cons. · Japanese GAAP
FYE Mar 2025	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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 ¥89bn

CAGR · 10 yrs +4.5%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Feb 2017	60.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	64.2	+7.0%	Cons. · Japanese GAAP
FYE Feb 2019	68.2	+6.2%	Cons. · Japanese GAAP
FYE Feb 2020	71.4	+4.7%	Cons. · Japanese GAAP
FYE Feb 2021	92.1	+29.0%	Cons. · Japanese GAAP
FYE Feb 2022	96.7	+5.0%	Cons. · Japanese GAAP
FYE Mar 2023	95.1	−1.6%	Cons. · Japanese GAAP
FYE Mar 2024	86.5	−9.0%	Cons. · Japanese GAAP
FYE Mar 2025	76.9	moved to IFRS	Cons. · IFRS
FYE Mar 2026	89.3	+16.1%	Cons. · IFRS

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

Gross margin

FYE Mar 2026 53.2%

Average · 10 yrs 53.5%

Fiscal year	Gross margin %	YoY	Basis
FYE Feb 2017	54.2	n/a	Cons. · Japanese GAAP
FYE Feb 2018	55.0	+0.8pp	Cons. · Japanese GAAP
FYE Feb 2019	54.5	−0.5pp	Cons. · Japanese GAAP
FYE Feb 2020	55.2	+0.7pp	Cons. · Japanese GAAP
FYE Feb 2021	57.4	+2.3pp	Cons. · Japanese GAAP
FYE Feb 2022	52.5	−5.0pp	Cons. · Japanese GAAP
FYE Mar 2023	50.4	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2024	51.1	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2025	51.0	moved to IFRS	Cons. · IFRS
FYE Mar 2026	53.2	+2.2pp	Cons. · IFRS

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

Operating margin

FYE Mar 2026 13.8%

Average · 10 yrs 15.8%

Fiscal year	Operating margin %	YoY	Basis
FYE Feb 2017	16.7	n/a	Cons. · Japanese GAAP
FYE Feb 2018	16.3	−0.4pp	Cons. · Japanese GAAP
FYE Feb 2019	16.6	+0.2pp	Cons. · Japanese GAAP
FYE Feb 2020	16.7	+0.2pp	Cons. · Japanese GAAP
FYE Feb 2021	19.2	+2.5pp	Cons. · Japanese GAAP
FYE Feb 2022	17.0	−2.2pp	Cons. · Japanese GAAP
FYE Mar 2023	14.8	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2024	13.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2025	12.7	moved to IFRS	Cons. · IFRS
FYE Mar 2026	13.8	+1.1pp	Cons. · IFRS

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

Ordinary margin

FYE Mar 2026 n/a

Average · 8 yrs 16.8%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Feb 2017	17.1	n/a	Cons. · Japanese GAAP
FYE Feb 2018	16.6	−0.5pp	Cons. · Japanese GAAP
FYE Feb 2019	16.9	+0.4pp	Cons. · Japanese GAAP
FYE Feb 2020	17.1	+0.1pp	Cons. · Japanese GAAP
FYE Feb 2021	19.3	+2.3pp	Cons. · Japanese GAAP
FYE Feb 2022	17.5	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2023	15.2	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2024	14.8	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

Definition: The share of revenue left at the ordinary-profit line
Formula: Ordinary profit ÷ revenue
Source: Securities report (XBRL)

Net margin

FYE Mar 2026 9.8%

Average · 10 yrs 10.8%

Fiscal year	Net margin %	YoY	Basis
FYE Feb 2017	11.7	n/a	Cons. · Japanese GAAP
FYE Feb 2018	11.2	−0.5pp	Cons. · Japanese GAAP
FYE Feb 2019	11.2	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2020	11.1	−0.1pp	Cons. · Japanese GAAP
FYE Feb 2021	12.8	+1.7pp	Cons. · Japanese GAAP
FYE Feb 2022	11.9	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2023	10.0	−1.9pp	Cons. · Japanese GAAP
FYE Mar 2024	9.7	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	8.3	moved to IFRS	Cons. · IFRS
FYE Mar 2026	9.8	+1.5pp	Cons. · IFRS

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

Cost-of-sales ratio

FYE Mar 2026 46.8%

Average · 10 yrs 46.6%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Feb 2017	45.8	n/a	Cons. · Japanese GAAP
FYE Feb 2018	45.0	−0.8pp	Cons. · Japanese GAAP
FYE Feb 2019	45.5	+0.5pp	Cons. · Japanese GAAP
FYE Feb 2020	44.8	−0.7pp	Cons. · Japanese GAAP
FYE Feb 2021	42.6	−2.3pp	Cons. · Japanese GAAP
FYE Feb 2022	47.5	+5.0pp	Cons. · Japanese GAAP
FYE Mar 2023	49.6	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2024	49.0	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2025	49.0	moved to IFRS	Cons. · IFRS
FYE Mar 2026	46.8	−2.2pp	Cons. · IFRS

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 39.9%

Average · 10 yrs 37.5%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Feb 2017	37.5	n/a	Cons. · Japanese GAAP
FYE Feb 2018	38.7	+1.2pp	Cons. · Japanese GAAP
FYE Feb 2019	37.9	−0.8pp	Cons. · Japanese GAAP
FYE Feb 2020	38.4	+0.5pp	Cons. · Japanese GAAP
FYE Feb 2021	38.2	−0.2pp	Cons. · Japanese GAAP
FYE Feb 2022	35.4	−2.8pp	Cons. · Japanese GAAP
FYE Mar 2023	35.7	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2024	36.0	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2025	37.5	moved to IFRS	Cons. · IFRS
FYE Mar 2026	39.9	+2.4pp	Cons. · IFRS

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 ¥1.57tn

CAGR · 10 yrs +13.9%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Feb 2017	488	n/a	Cons. · Japanese GAAP
FYE Feb 2018	551	+12.9%	Cons. · Japanese GAAP
FYE Feb 2019	619	+12.5%	Cons. · Japanese GAAP
FYE Feb 2020	683	+10.3%	Cons. · Japanese GAAP
FYE Feb 2021	931	+36.2%	Cons. · Japanese GAAP
FYE Feb 2022	984	+5.7%	Cons. · Japanese GAAP
FYE Mar 2023	1,134	+15.2%	Cons. · Japanese GAAP
FYE Mar 2024	1,239	+9.3%	Cons. · Japanese GAAP
FYE Mar 2025	1,351	moved to IFRS	Cons. · IFRS
FYE Mar 2026	1,571	+16.3%	Cons. · IFRS

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 ¥989bn

CAGR · 10 yrs +10.7%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Feb 2017	395	n/a	Cons. · Japanese GAAP
FYE Feb 2018	442	+11.9%	Cons. · Japanese GAAP
FYE Feb 2019	500	+13.3%	Cons. · Japanese GAAP
FYE Feb 2020	561	+12.1%	Cons. · Japanese GAAP
FYE Feb 2021	642	+14.5%	Cons. · Japanese GAAP
FYE Feb 2022	733	+14.1%	Cons. · Japanese GAAP
FYE Mar 2023	818	+11.6%	Cons. · Japanese GAAP
FYE Mar 2024	896	+9.6%	Cons. · Japanese GAAP
FYE Mar 2025	965	moved to IFRS	Cons. · IFRS
FYE Mar 2026	989	+2.4%	Cons. · IFRS

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 ¥160bn

CAGR · 10 yrs +85.2%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Feb 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Feb 2018	10.0	+1500.0%	Cons. · Japanese GAAP
FYE Feb 2019	8.7	−13.3%	Cons. · Japanese GAAP
FYE Feb 2020	6.8	−21.7%	Cons. · Japanese GAAP
FYE Feb 2021	50.7	+647.2%	Cons. · Japanese GAAP
FYE Feb 2022	85.5	+68.5%	Cons. · Japanese GAAP
FYE Mar 2023	140	+64.3%	Cons. · Japanese GAAP
FYE Mar 2024	138	−2.0%	Cons. · Japanese GAAP
FYE Mar 2025	193	moved to IFRS	Cons. · IFRS
FYE Mar 2026	160	−17.2%	Cons. · IFRS

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

Short-term borrowings

FYE Mar 2026 ¥150bn

CAGR · 10 yrs +83.9%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Feb 2017	0.6	n/a	Cons. · Japanese GAAP
FYE Feb 2018	2.0	+220.0%	Cons. · Japanese GAAP
FYE Feb 2019	2.6	+32.0%	Cons. · Japanese GAAP
FYE Feb 2020	2.8	+5.6%	Cons. · Japanese GAAP
FYE Feb 2021	48.7	+1647.9%	Cons. · Japanese GAAP
FYE Feb 2022	35.1	−28.0%	Cons. · Japanese GAAP
FYE Mar 2023	83.1	+136.9%	Cons. · Japanese GAAP
FYE Mar 2024	108	+29.5%	Cons. · Japanese GAAP
FYE Mar 2025	173	moved to IFRS	Cons. · IFRS
FYE Mar 2026	150	−13.4%	Cons. · IFRS

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 ¥10bn

Average · 10 yrs ¥30bn

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Feb 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	8.0	n/a	Cons. · Japanese GAAP
FYE Feb 2019	6.0	−24.6%	Cons. · Japanese GAAP
FYE Feb 2020	4.0	−33.6%	Cons. · Japanese GAAP
FYE Feb 2021	2.0	−50.0%	Cons. · Japanese GAAP
FYE Feb 2022	50.4	+2419.9%	Cons. · Japanese GAAP
FYE Mar 2023	57.3	+13.8%	Cons. · Japanese GAAP
FYE Mar 2024	140	+144.9%	Cons. · Japanese GAAP
FYE Mar 2025	20.0	moved to IFRS	Cons. · IFRS
FYE Mar 2026	10.0	−50.0%	Cons. · IFRS

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

Average · 8 yrs ¥0.0m

Fiscal year	Bonds ¥ m	YoY	Basis
FYE Feb 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2019	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2020	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2021	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2022	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2024	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	n/a	moved to IFRS	Cons. · IFRS
FYE Mar 2026	n/a	n/a	Cons. · IFRS

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

Intangible assets

FYE Mar 2026 ¥10.0bn

CAGR · 10 yrs −3.5%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Feb 2017	13.7	n/a	Cons. · Japanese GAAP
FYE Feb 2018	13.9	+1.1%	Cons. · Japanese GAAP
FYE Feb 2019	18.9	+35.8%	Cons. · Japanese GAAP
FYE Feb 2020	24.6	+30.5%	Cons. · Japanese GAAP
FYE Feb 2021	36.9	+49.9%	Cons. · Japanese GAAP
FYE Feb 2022	38.1	+3.4%	Cons. · Japanese GAAP
FYE Mar 2023	33.0	−13.4%	Cons. · Japanese GAAP
FYE Mar 2024	7.7	−76.7%	Cons. · Japanese GAAP
FYE Mar 2025	9.3	moved to IFRS	Cons. · IFRS
FYE Mar 2026	10.0	+7.1%	Cons. · IFRS

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

Goodwill

FYE Mar 2026 ¥0.0bn

Average · 10 yrs ¥7.9bn

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Feb 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2019	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2020	0.0	n/a	Cons. · Japanese GAAP
FYE Feb 2021	19.8	n/a	Cons. · Japanese GAAP
FYE Feb 2022	22.4	+13.1%	Cons. · Japanese GAAP
FYE Mar 2023	19.6	−12.4%	Cons. · Japanese GAAP
FYE Mar 2024	17.1	−13.0%	Cons. · Japanese GAAP
FYE Mar 2025	0.0	moved to IFRS	Cons. · IFRS
FYE Mar 2026	0.0	n/a	Cons. · IFRS

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 62.9%

Average · 10 yrs 74.6%

Fiscal year	Equity ratio %	YoY	Basis
FYE Feb 2017	80.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	80.2	−0.7pp	Cons. · Japanese GAAP
FYE Feb 2019	80.8	+0.5pp	Cons. · Japanese GAAP
FYE Feb 2020	82.1	+1.3pp	Cons. · Japanese GAAP
FYE Feb 2021	69.0	−13.1pp	Cons. · Japanese GAAP
FYE Feb 2022	74.5	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2023	72.2	−2.3pp	Cons. · Japanese GAAP
FYE Mar 2024	72.4	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2025	71.5	moved to IFRS	Cons. · IFRS
FYE Mar 2026	62.9	−8.6pp	Cons. · IFRS

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 16.2%

Average · 10 yrs 9.4%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Feb 2017	0.2	n/a	Cons. · Japanese GAAP
FYE Feb 2018	2.3	+2.1pp	Cons. · Japanese GAAP
FYE Feb 2019	1.7	−0.5pp	Cons. · Japanese GAAP
FYE Feb 2020	1.2	−0.5pp	Cons. · Japanese GAAP
FYE Feb 2021	7.9	+6.7pp	Cons. · Japanese GAAP
FYE Feb 2022	11.7	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2023	17.2	+5.5pp	Cons. · Japanese GAAP
FYE Mar 2024	15.3	−1.8pp	Cons. · Japanese GAAP
FYE Mar 2025	20.0	moved to IFRS	Cons. · IFRS
FYE Mar 2026	16.2	−3.8pp	Cons. · IFRS

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 9.0%

Average · 10 yrs 12.2%

Fiscal year	ROE %	YoY	Basis
FYE Feb 2017	15.2	n/a	Cons. · Japanese GAAP
FYE Feb 2018	14.5	−0.7pp	Cons. · Japanese GAAP
FYE Feb 2019	13.6	−0.9pp	Cons. · Japanese GAAP
FYE Feb 2020	12.7	−0.9pp	Cons. · Japanese GAAP
FYE Feb 2021	14.3	+1.6pp	Cons. · Japanese GAAP
FYE Feb 2022	13.2	−1.1pp	Cons. · Japanese GAAP
FYE Mar 2023	11.6	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2024	9.7	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2025	8.0	moved to IFRS	Cons. · IFRS
FYE Mar 2026	9.0	+1.1pp	Cons. · IFRS

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

ROA return on assets

FYE Mar 2026 5.7%

Average · 10 yrs 9.2%

Fiscal year	ROA %	YoY	Basis
FYE Feb 2017	12.3	n/a	Cons. · Japanese GAAP
FYE Feb 2018	11.7	−0.6pp	Cons. · Japanese GAAP
FYE Feb 2019	11.0	−0.7pp	Cons. · Japanese GAAP
FYE Feb 2020	10.4	−0.6pp	Cons. · Japanese GAAP
FYE Feb 2021	9.9	−0.6pp	Cons. · Japanese GAAP
FYE Feb 2022	9.8	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	8.4	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2024	7.0	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	5.7	moved to IFRS	Cons. · IFRS
FYE Mar 2026	5.7	−0.0pp	Cons. · IFRS

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

Asset turnover

FYE Mar 2026 0.58×

CAGR · 10 yrs −6.4%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Feb 2017	1.05	n/a	Cons. · Japanese GAAP
FYE Feb 2018	1.04	−1.2%	Cons. · Japanese GAAP
FYE Feb 2019	0.98	−5.5%	Cons. · Japanese GAAP
FYE Feb 2020	0.94	−4.3%	Cons. · Japanese GAAP
FYE Feb 2021	0.77	−18.1%	Cons. · Japanese GAAP
FYE Feb 2022	0.82	+7.1%	Cons. · Japanese GAAP
FYE Mar 2023	0.84	+1.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.72	−13.5%	Cons. · Japanese GAAP
FYE Mar 2025	0.69	moved to IFRS	Cons. · IFRS
FYE Mar 2026	0.58	−15.6%	Cons. · IFRS

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 ¥149bn

CAGR · 10 yrs +7.5%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Feb 2017	77.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	76.8	−1.4%	Cons. · Japanese GAAP
FYE Feb 2019	81.7	+6.3%	Cons. · Japanese GAAP
FYE Feb 2020	99.3	+21.6%	Cons. · Japanese GAAP
FYE Feb 2021	151	+51.9%	Cons. · Japanese GAAP
FYE Feb 2022	85.6	−43.3%	Cons. · Japanese GAAP
FYE Mar 2023	91.4	+6.8%	Cons. · Japanese GAAP
FYE Mar 2024	144	+57.1%	Cons. · Japanese GAAP
FYE Mar 2025	112	moved to IFRS	Cons. · IFRS
FYE Mar 2026	149	+32.9%	Cons. · IFRS

Definition: Cash the business itself generated
Formula: Cash flow from operating activities
Source: Securities report (XBRL)

Investing cash flow

FYE Mar 2026 -¥55bn

Average · 10 yrs -¥97bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Feb 2017	-42.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	-82.8	n/a	Cons. · Japanese GAAP
FYE Feb 2019	-30.4	n/a	Cons. · Japanese GAAP
FYE Feb 2020	-44.5	n/a	Cons. · Japanese GAAP
FYE Feb 2021	-196	n/a	Cons. · Japanese GAAP
FYE Feb 2022	-120	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-133	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-132	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-130	moved to IFRS	Cons. · IFRS
FYE Mar 2026	-55.1	n/a	Cons. · IFRS

Definition: Cash spent on, or released by, investment
Formula: Cash flow from investing activities
Source: Securities report (XBRL)

Financing cash flow

FYE Mar 2026 -¥87bn

Average · 10 yrs -¥1.7bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Feb 2017	-6.4	n/a	Cons. · Japanese GAAP
FYE Feb 2018	0.7	n/a	Cons. · Japanese GAAP
FYE Feb 2019	-11.3	−1831.3%	Cons. · Japanese GAAP
FYE Feb 2020	-13.9	n/a	Cons. · Japanese GAAP
FYE Feb 2021	30.3	n/a	Cons. · Japanese GAAP
FYE Feb 2022	17.7	−41.5%	Cons. · Japanese GAAP
FYE Mar 2023	36.9	+108.2%	Cons. · Japanese GAAP
FYE Mar 2024	-20.6	−155.8%	Cons. · Japanese GAAP
FYE Mar 2025	36.1	moved to IFRS	Cons. · IFRS
FYE Mar 2026	-86.5	−339.7%	Cons. · IFRS

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 ¥145bn

CAGR · 10 yrs +9.1%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Feb 2017	66.0	n/a	Cons. · Japanese GAAP
FYE Feb 2018	60.9	−7.7%	Cons. · Japanese GAAP
FYE Feb 2019	100	+64.2%	Cons. · Japanese GAAP
FYE Feb 2020	141	+40.7%	Cons. · Japanese GAAP
FYE Feb 2021	125	−10.9%	Cons. · Japanese GAAP
FYE Feb 2022	127	+1.3%	Cons. · Japanese GAAP
FYE Mar 2023	125	−1.5%	Cons. · Japanese GAAP
FYE Mar 2024	117	−6.2%	Cons. · Japanese GAAP
FYE Mar 2025	137	moved to IFRS	Cons. · IFRS
FYE Mar 2026	145	+5.5%	Cons. · IFRS

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 ¥94bn

CAGR · 10 yrs +11.3%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Feb 2017	35.9	n/a	Cons. · Japanese GAAP
FYE Feb 2018	-5.9	−116.5%	Cons. · Japanese GAAP
FYE Feb 2019	51.2	n/a	Cons. · Japanese GAAP
FYE Feb 2020	54.9	+7.0%	Cons. · Japanese GAAP
FYE Feb 2021	-45.1	−182.2%	Cons. · Japanese GAAP
FYE Feb 2022	-34.4	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-41.1	n/a	Cons. · Japanese GAAP
FYE Mar 2024	11.8	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-17.8	moved to IFRS	Cons. · IFRS
FYE Mar 2026	93.8	n/a	Cons. · IFRS

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 16.3%

Average · 10 yrs 14.3%

Fiscal year	OCF margin %	YoY	Basis
FYE Feb 2017	15.2	n/a	Cons. · Japanese GAAP
FYE Feb 2018	13.4	−1.8pp	Cons. · Japanese GAAP
FYE Feb 2019	13.4	−0.0pp	Cons. · Japanese GAAP
FYE Feb 2020	15.5	+2.0pp	Cons. · Japanese GAAP
FYE Feb 2021	21.0	+5.6pp	Cons. · Japanese GAAP
FYE Feb 2022	10.5	−10.5pp	Cons. · Japanese GAAP
FYE Mar 2023	9.6	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2024	16.0	+6.4pp	Cons. · Japanese GAAP
FYE Mar 2025	12.1	moved to IFRS	Cons. · IFRS
FYE Mar 2026	16.3	+4.3pp	Cons. · IFRS

Definition: How much of the revenue turned into cash
Formula: Operating cash flow ÷ revenue
Source: Securities report (XBRL)

Net cash

FYE Mar 2026 -¥15bn

Average · 10 yrs ¥35bn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Feb 2017	65.4	n/a	Cons. · Japanese GAAP
FYE Feb 2018	50.9	−22.1%	Cons. · Japanese GAAP
FYE Feb 2019	91.4	+79.5%	Cons. · Japanese GAAP
FYE Feb 2020	134	+46.6%	Cons. · Japanese GAAP
FYE Feb 2021	74.8	−44.2%	Cons. · Japanese GAAP
FYE Feb 2022	41.6	−44.4%	Cons. · Japanese GAAP
FYE Mar 2023	-15.3	−136.7%	Cons. · Japanese GAAP
FYE Mar 2024	-20.2	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-55.7	moved to IFRS	Cons. · IFRS
FYE Mar 2026	-15.0	n/a	Cons. · IFRS

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 ¥1.44tn

Change · 10 yrs +¥39bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Feb 2017	1,402	n/a
FYE Feb 2018	2,017	n/a
FYE Feb 2019	1,608	n/a
FYE Feb 2020	1,895	n/a
FYE Feb 2021	2,400	n/a
FYE Feb 2022	1,871	n/a
FYE Mar 2023	1,823	n/a
FYE Mar 2024	2,701	n/a
FYE Mar 2025	1,697	n/a
FYE Mar 2026	1,441	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 2,518¥

Change · 10 yrs −9,734¥

Fiscal year	Share price ¥	Basis
FYE Feb 2017	12,252	n/a
FYE Feb 2018	17,625	n/a
FYE Feb 2019	14,052	n/a
FYE Feb 2020	16,559	n/a
FYE Feb 2021	20,973	n/a
FYE Feb 2022	16,346	n/a
FYE Mar 2023	15,929	n/a
FYE Mar 2024	23,599	n/a
FYE Mar 2025	14,827	n/a
FYE Mar 2026	2,518	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 572,217,480shares

Change · 10 yrs +457,773,984 shares

Fiscal year	Shares outstanding shares	Basis
FYE Feb 2017	114,443,496	Parent
FYE Feb 2018	114,443,496	Parent
FYE Feb 2019	114,443,496	Parent
FYE Feb 2020	114,443,496	Parent
FYE Feb 2021	114,443,496	Parent
FYE Feb 2022	114,443,496	Parent
FYE Mar 2023	114,443,496	Parent
FYE Mar 2024	114,443,496	Parent
FYE Mar 2025	114,443,496	Parent
FYE Mar 2026	572,217,480	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 157.98¥

Change · 10 yrs −382.95¥

Fiscal year	EPS ¥	Basis
FYE Feb 2017	540.93	Cons.
FYE Feb 2018	574.49	Cons.
FYE Feb 2019	608.05	Cons.
FYE Feb 2020	635.42	Cons.
FYE Feb 2021	817.01	Cons.
FYE Feb 2022	171.34	Cons.
FYE Mar 2023	168.38	Cons.
FYE Mar 2024	159.56	Cons.
FYE Mar 2025	146.08	Cons.
FYE Mar 2026	157.98	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 1,727.57¥

Change · 10 yrs −1,720.71¥

Fiscal year	BPS ¥	Basis
FYE Feb 2017	3,448.29	Cons. · Japanese GAAP
FYE Feb 2018	3,859.27	Cons. · Japanese GAAP
FYE Feb 2019	4,370.65	Cons. · Japanese GAAP
FYE Feb 2020	4,900.77	Cons. · Japanese GAAP
FYE Feb 2021	5,610.60	Cons. · Japanese GAAP
FYE Feb 2022	6,403.27	Cons. · Japanese GAAP
FYE Mar 2023	7,148.47	Cons. · Japanese GAAP
FYE Mar 2024	7,831.85	Cons. · Japanese GAAP
FYE Mar 2025	8,435.13	Cons. · IFRS
FYE Mar 2026	1,727.57	Cons. · IFRS

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

PER price-to-earnings ratio

FYE Mar 2026 15.94×

Average · 10 yrs 23.20×

Fiscal year	PER ×	Basis
FYE Feb 2017	22.65	Cons.
FYE Feb 2018	30.68	Cons.
FYE Feb 2019	23.11	Cons.
FYE Feb 2020	26.06	Cons.
FYE Feb 2021	25.67	Cons.
FYE Feb 2022	19.08	Cons.
FYE Mar 2023	18.92	Cons.
FYE Mar 2024	29.58	Cons.
FYE Mar 2025	20.30	Cons.
FYE Mar 2026	15.94	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 2.95×

Fiscal year	PBR ×	Basis
FYE Feb 2017	3.47	Cons.
FYE Feb 2018	4.47	Cons.
FYE Feb 2019	3.16	Cons.
FYE Feb 2020	3.32	Cons.
FYE Feb 2021	3.69	Cons.
FYE Feb 2022	2.52	Cons.
FYE Mar 2023	2.38	Cons.
FYE Mar 2024	3.17	Cons.
FYE Mar 2025	1.85	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 19,432people

Change · 10 yrs +9,263 people

Fiscal year	Group employees people	YoY	Basis
FYE Feb 2017	10,169	n/a	Cons.
FYE Feb 2018	10,366	+1.9%	Cons.
FYE Feb 2019	12,668	+22.2%	Cons.
FYE Feb 2020	14,337	+13.2%	Cons.
FYE Feb 2021	18,400	+28.3%	Cons.
FYE Feb 2022	18,984	+3.2%	Cons.
FYE Mar 2023	18,909	−0.4%	Cons.
FYE Mar 2024	19,127	+1.2%	Cons.
FYE Mar 2025	19,967	+4.4%	Cons.
FYE Mar 2026	19,432	−2.7%	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 884people

Change · 10 yrs +609 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Feb 2017	275	n/a	Parent
FYE Feb 2018	292	+6.2%	Parent
FYE Feb 2019	347	+18.8%	Parent
FYE Feb 2020	558	+60.8%	Parent
FYE Feb 2021	774	+38.7%	Parent
FYE Feb 2022	867	+12.0%	Parent
FYE Mar 2023	972	+12.1%	Parent
FYE Mar 2024	1,091	+12.2%	Parent
FYE Mar 2025	939	−13.9%	Parent
FYE Mar 2026	884	−5.9%	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 ¥7.5m

Change · 10 yrs −¥1.3m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Feb 2017	8.8	n/a	Parent
FYE Feb 2018	8.6	−1.9%	Parent
FYE Feb 2019	8.6	−0.7%	Parent
FYE Feb 2020	8.5	−0.5%	Parent
FYE Feb 2021	8.7	+2.0%	Parent
FYE Feb 2022	8.4	−3.7%	Parent
FYE Mar 2023	7.9	−5.8%	Parent
FYE Mar 2024	8.1	+2.6%	Parent
FYE Mar 2025	7.8	−3.3%	Parent
FYE Mar 2026	7.5	−4.6%	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 39.6years

Change · 7 yrs −3.1 years

Fiscal year	Average age years	YoY	Basis
FYE Feb 2017	n/a	n/a	Parent
FYE Feb 2018	n/a	n/a	Parent
FYE Feb 2019	n/a	n/a	Parent
FYE Feb 2020	42.7	n/a	Parent
FYE Feb 2021	40.7	−4.7%	Parent
FYE Feb 2022	40.3	−1.0%	Parent
FYE Mar 2023	40.2	−0.2%	Parent
FYE Mar 2024	40.4	+0.5%	Parent
FYE Mar 2025	39.6	−2.0%	Parent
FYE Mar 2026	39.6	−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 12.2years

Change · 10 yrs +2.5 years

Fiscal year	Average length of service years	YoY	Basis
FYE Feb 2017	9.7	n/a	Parent
FYE Feb 2018	9.0	−7.2%	Parent
FYE Feb 2019	9.4	+4.4%	Parent
FYE Feb 2020	11.8	+25.5%	Parent
FYE Feb 2021	12.0	+1.7%	Parent
FYE Feb 2022	12.4	+3.3%	Parent
FYE Mar 2023	12.0	−3.2%	Parent
FYE Mar 2024	12.0	−0.0%	Parent
FYE Mar 2025	12.2	+1.7%	Parent
FYE Mar 2026	12.2	−0.0%	Parent

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

Temporary employees

FYE Mar 2026 22,304people

Change · 10 yrs +10,362 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Feb 2017	11,942	n/a	n/a
FYE Feb 2018	14,450	+21.0%	n/a
FYE Feb 2019	14,838	+2.7%	n/a
FYE Feb 2020	15,599	+5.1%	n/a
FYE Feb 2021	18,269	+17.1%	n/a
FYE Feb 2022	18,245	−0.1%	n/a
FYE Mar 2023	18,420	+1.0%	n/a
FYE Mar 2024	19,684	+6.9%	n/a
FYE Mar 2025	22,454	+14.1%	n/a
FYE Mar 2026	22,304	−0.7%	n/a

Definition: Average number of temporary and part-time staff over the year
Formula: Average temporary headcount, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Mar 2026 ¥46.9m

Change · 10 yrs −¥3.5m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Feb 2017	50.4	n/a	Cons.
FYE Feb 2018	55.2	+9.4%	Cons.
FYE Feb 2019	48.0	−13.0%	Cons.
FYE Feb 2020	44.8	−6.7%	Cons.
FYE Feb 2021	39.0	−13.0%	Cons.
FYE Feb 2022	42.8	+9.7%	Cons.
FYE Mar 2023	50.1	+17.3%	Cons.
FYE Mar 2024	46.8	−6.6%	Cons.
FYE Mar 2025	46.5	n/a	Cons.
FYE Mar 2026	46.9	+0.9%	Cons.

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

Operating profit per employee

FYE Mar 2026 ¥6.5m

Change · 10 yrs −¥2.0m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Feb 2017	8.4	n/a	Cons.
FYE Feb 2018	9.0	+6.8%	Cons.
FYE Feb 2019	8.0	−11.7%	Cons.
FYE Feb 2020	7.5	−5.8%	Cons.
FYE Feb 2021	7.5	−0.2%	Cons.
FYE Feb 2022	7.3	−2.7%	Cons.
FYE Mar 2023	7.4	+1.7%	Cons.
FYE Mar 2024	6.5	−12.3%	Cons.
FYE Mar 2025	5.9	n/a	Cons.
FYE Mar 2026	6.5	+9.6%	Cons.

Definition: What each employee accounts for in operating profit
Formula: Operating profit ÷ group employees
Source: Securities report (XBRL)

Disclaimer

Figures are reproduced as filed and are not restated: a change of accounting standard or of consolidation basis moves the series without anything happening to the business. Where that happened, the table says so in place of the year-on-year figure.
Ratios and per-employee figures are computed from the filed lines rather than taken from the filing, and use year-end balances rather than averages.

Accuracy, liability, reuse and privacy — the full disclaimer →

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