What this is
Japan step 11.2/381.4 = 2.9 pt; 11.2/426.4 = 2.6 pt (full-year at year to February 2026 volume, an upper bound for year to February 2027). Excell lands in the subsidiaries, not the parent.
Where it comes from
Our calculation from other figures in the trainer’s notes.
Show the working
- Gross: 531.428 − 150.0 = 381.4
- 84.1/381.4 = 22.0%
- 63.6/381.4 = 16.7%
- 100.3/381.4 = 26.3%
- Net: 531.428 − 105.0 = 426.4
- 58.9/426.4 = 13.8%
- 0.70 × 63.6 = 44.5 → 10.4%
- 0.70 × 100.3 = 70.2 → 16.5%
- Japan step 11.2/381.4 = 2.9 pt
- 11.2/426.4 = 2.6 pt (full-year at FY2/26 volume, an upper bound for FY2/27)
Related figures
Built from this one