Financial Indicators

Profitability

  FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Gross margin (%) 24.8 25.6 24.5 24.0 23.7
Operating income margin (%) 7.7 8.5 7.3 7.3 7.3
Ordinary income margin (%) 8.1 8.9 7.8 7.9 7.8
ROA (Return on assets) (%) 8.3 8.9 7.5 7.5 7.5
ROE (Return on equity) (%) 9.6 10.1 7.8 8.2 7.9
EV/EBITDA*(times) 9.6 5.9 5.8 6.1 8.1

*EV/EBITDA
EV=Total market value + Interest-bearing liabilities - Liquidity in hand (Cash and deposits + Short term investments in securities)
EBITDA=Operating profit + Depreciation

Stability

  FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Equity ratio (%) 55.3 59.0 58.6 60.2 59.1
Equity capital ratio on market-value basis (%) 109.1 82.2 69.3 72.9 95.0
Interest-bearing liabilities (millions of yen) 28,408 13,423 10,825 9,392 14,745
Interest coverage ratio (times) 27.3 22.3 17.6 30.7 22.3

Efficiency

  FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Total asset turnover ratio (times) 1.0 1.0 1.0 1.0 1.0
Shareholders' equity turnover ratio (times) 1.9 1.7 1.7 1.6 1.6
Tangible fixed asset turnover ratio (times) 4.9 4.9 4.6 4.5 4.6

Per share information

  FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Net assets per share (yen) 530.42 574.32 602.71 687.34 697.96
Net income per share (yen) 47.90 55.78 45.90 52.95 55.41
Dividend per share (yen) 14.4 16.4 17.2 23.7 25.8
Consolidated dividend payout ratio (%) 30.1 29.4 37.5 44.8 46.6

Number of employees

  FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Consolidated 38,444 38,192 39,039 64,982※ 64,733
Non-consolidated 11,861 12,002 12,041 11,818 11,559

※Due to the effect of consolidation of PT. Shield-On Service Tbk.