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Record

Pickup ratio with and without the ¥11.7bn recycle, year to March 2026, year to March 2026

Year to March 2026

EstimateOur model or estimate. Treat it as an order of magnitude.

The values

  • Reported ratio to 32pct net profit: 101%
  • Pickup ex recycle: 71,113
  • Ex recycle against unadjusted 32pct net profit: 87.1%
  • Net profit ex recycle 100: 218,642%
  • Ex recycle both sides: 102%

Where it comes from

Our calculation from other figures in the trainer’s notes.