Annual report

Period2024-03-01 → 2025-02-28
Filed2025-05-29
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed
Key figures · 158
MetricValuePeriodScopeSource row
Revenue¥14.2bn2024-03-01 → 2025-02-28Cons.Net sales
Revenue¥13.5bn2023-03-01 → 2024-02-29Cons.Net sales
Revenue¥13.3bn2022-03-01 → 2023-02-28dCons.Net sales (5-year summary)
Revenue¥13.9bn2021-03-01 → 2022-02-28dCons.Net sales (5-year summary)
Revenue¥11.8bn2020-03-01 → 2021-02-28dCons.Net sales (5-year summary)
Operating income¥1.0bn2024-03-01 → 2025-02-28Cons.Operating income
Operating income¥1.2bn2023-03-01 → 2024-02-29Cons.Operating income
Ordinary income¥1.0bn2024-03-01 → 2025-02-28Cons.Ordinary income
Ordinary income¥1.2bn2023-03-01 → 2024-02-29Cons.Ordinary income
Ordinary income¥1.1bn2022-03-01 → 2023-02-28dCons.Ordinary income loss (5-year summary)
Ordinary income¥876m2021-03-01 → 2022-02-28dCons.Ordinary income loss (5-year summary)
Ordinary income¥698m2020-03-01 → 2021-02-28dCons.Ordinary income loss (5-year summary)
Profit before tax¥996m2024-03-01 → 2025-02-28Cons.Income before income taxes
Profit before tax¥1.4bn2023-03-01 → 2024-02-29Cons.Income before income taxes
Net income (owners)¥574m2024-03-01 → 2025-02-28Cons.Profit loss attributable to owners of parent
Net income (owners)¥886m2023-03-01 → 2024-02-29Cons.Profit loss attributable to owners of parent
Net income (owners)¥912m2022-03-01 → 2023-02-28dCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥532m2021-03-01 → 2022-02-28dCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥403m2020-03-01 → 2021-02-28dCons.Profit loss attributable to owners of parent (5-year summary)
Net income¥555m2024-03-01 → 2025-02-28Cons.Profit loss
Net income¥890m2023-03-01 → 2024-02-29Cons.Profit loss
Total assets¥8.7bnat 2025-02-28Cons.Assets
Total assets¥8.1bnat 2024-02-29Cons.Assets
Total assets¥7.9bnat 2023-02-28dCons.Total assets (5-year summary)
Total assets¥7.2bnat 2022-02-28dCons.Total assets (5-year summary)
Total assets¥7.1bnat 2021-02-28dCons.Total assets (5-year summary)
Total liabilities¥4.2bnat 2025-02-28Cons.Liabilities
Total liabilities¥4.3bnat 2024-02-29Cons.Liabilities
Net assets / equity¥4.5bnat 2025-02-28Cons.Net assets
Net assets / equity¥3.8bnat 2024-02-29Cons.Net assets
Net assets / equity¥3.6bnat 2023-02-28dCons.Net assets
Net assets / equity¥2.7bnat 2022-02-28dCons.Net assets (5-year summary)
Net assets / equity¥2.5bnat 2021-02-28dCons.Net assets (5-year summary)
Cash and deposits¥3.0bnat 2025-02-28Cons.Cash and deposits
Cash and deposits¥2.4bnat 2024-02-29Cons.Cash and deposits
Cash & equivalents¥2.9bnat 2025-02-28Cons.Cash and cash equivalents
Cash & equivalents¥2.3bnat 2024-02-29Cons.Cash and cash equivalents
Cash & equivalents¥2.3bnat 2023-02-28dCons.Cash and cash equivalents
Cash & equivalents¥1.5bnat 2022-02-28dCons.Cash and cash equivalents (5-year summary)
Cash & equivalents¥1.8bnat 2021-02-28dCons.Cash and cash equivalents (5-year summary)
Operating cash flow¥1.4bn2024-03-01 → 2025-02-28Cons.Net cash provided by used in operating activities
Operating cash flow¥565m2023-03-01 → 2024-02-29Cons.Net cash provided by used in operating activities
Operating cash flow¥1.1bn2022-03-01 → 2023-02-28dCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥499m2021-03-01 → 2022-02-28dCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥796m2020-03-01 → 2021-02-28dCons.Net cash provided by used in operating activities (5-year summary)
Investing cash flow−¥577m2024-03-01 → 2025-02-28Cons.Net cash provided by used in investment activities
Investing cash flow−¥186m2023-03-01 → 2024-02-29Cons.Net cash provided by used in investment activities
Investing cash flow−¥2m2022-03-01 → 2023-02-28dCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥361m2021-03-01 → 2022-02-28dCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥1.8bn2020-03-01 → 2021-02-28dCons.Net cash provided by used in investing activities (5-year summary)
Financing cash flow−¥435m2024-03-01 → 2025-02-28Cons.Net cash provided by used in financing activities
Financing cash flow−¥414m2023-03-01 → 2024-02-29Cons.Net cash provided by used in financing activities
Financing cash flow−¥368m2022-03-01 → 2023-02-28dCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow−¥383m2021-03-01 → 2022-02-28dCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow¥1.4bn2020-03-01 → 2021-02-28dCons.Net cash provided by used in financing activities (5-year summary)
EPS (basic)¥85.842024-03-01 → 2025-02-28Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥135.772023-03-01 → 2024-02-29Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥138.682022-03-01 → 2023-02-28dCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥81.232021-03-01 → 2022-02-28dCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥64.242020-03-01 → 2021-02-28dCons.Basic earnings loss per share (5-year summary)
EPS (diluted)¥84.482024-03-01 → 2025-02-28Cons.Diluted earnings per share (5-year summary)
EPS (diluted)¥134.292023-03-01 → 2024-02-29Cons.Diluted earnings per share (5-year summary)
EPS (diluted)¥134.272022-03-01 → 2023-02-28dCons.Diluted earnings per share (5-year summary)
EPS (diluted)¥78.082021-03-01 → 2022-02-28dCons.Diluted earnings per share (5-year summary)
EPS (diluted)¥59.752020-03-01 → 2021-02-28dCons.Diluted earnings per share (5-year summary)
Net assets per share¥655.34at 2025-02-28Cons.Net assets per share (5-year summary)
Net assets per share¥584.13at 2024-02-29Cons.Net assets per share (5-year summary)
Net assets per share¥523.43at 2023-02-28dCons.Net assets per share (5-year summary)
Net assets per share¥415.34at 2022-02-28dCons.Net assets per share (5-year summary)
Net assets per share¥372.87at 2021-02-28dCons.Net assets per share (5-year summary)
Equity ratio51.2%at 2025-02-28Cons.Equity to asset ratio (5-year summary)
Equity ratio46.3%at 2024-02-29Cons.Equity to asset ratio (5-year summary)
Equity ratio44.0%at 2023-02-28dCons.Equity to asset ratio (5-year summary)
Equity ratio37.6%at 2022-02-28dCons.Equity to asset ratio (5-year summary)
Equity ratio34.8%at 2021-02-28dCons.Equity to asset ratio (5-year summary)
ROE14.0%2024-03-01 → 2025-02-28Cons.Rate of return on equity (5-year summary)
ROE24.5%2023-03-01 → 2024-02-29Cons.Rate of return on equity (5-year summary)
ROE29.3%2022-03-01 → 2023-02-28dCons.Rate of return on equity (5-year summary)
ROE20.5%2021-03-01 → 2022-02-28dCons.Rate of return on equity (5-year summary)
ROE18.1%2020-03-01 → 2021-02-28dCons.Rate of return on equity (5-year summary)
Employees680at 2025-02-28Cons.Number of employees
Employees649at 2024-02-29Cons.Number of employees
Employees644at 2023-02-28dCons.Number of employees
Employees652at 2022-02-28dCons.Number of employees
Employees562at 2021-02-28dCons.Number of employees
Revenue¥8.6bn2024-03-01 → 2025-02-28StandaloneNet sales
Revenue¥8.4bn2023-03-01 → 2024-02-29StandaloneNet sales
Revenue¥8.4bn2022-03-01 → 2023-02-28dStandaloneNet sales (5-year summary)
Revenue¥9.9bn2021-03-01 → 2022-02-28dStandaloneNet sales (5-year summary)
Revenue¥9.3bn2020-03-01 → 2021-02-28dStandaloneNet sales (5-year summary)
Operating income¥304m2024-03-01 → 2025-02-28StandaloneOperating income
Operating income¥338m2023-03-01 → 2024-02-29StandaloneOperating income
Ordinary income¥648m2024-03-01 → 2025-02-28StandaloneOrdinary income
Ordinary income¥713m2023-03-01 → 2024-02-29StandaloneOrdinary income
Ordinary income¥534m2022-03-01 → 2023-02-28dStandaloneOrdinary income loss (5-year summary)
Ordinary income¥645m2021-03-01 → 2022-02-28dStandaloneOrdinary income loss (5-year summary)
Ordinary income¥298m2020-03-01 → 2021-02-28dStandaloneOrdinary income loss (5-year summary)
Profit before tax¥481m2024-03-01 → 2025-02-28StandaloneIncome before income taxes
Profit before tax¥870m2023-03-01 → 2024-02-29StandaloneIncome before income taxes
Net income¥376m2024-03-01 → 2025-02-28StandaloneProfit loss
Net income¥689m2023-03-01 → 2024-02-29StandaloneProfit loss
Net income¥582m2022-03-01 → 2023-02-28dStandaloneNet income loss (5-year summary)
Net income¥592m2021-03-01 → 2022-02-28dStandaloneNet income loss (5-year summary)
Net income¥200m2020-03-01 → 2021-02-28dStandaloneNet income loss (5-year summary)
Total assets¥6.7bnat 2025-02-28StandaloneAssets
Total assets¥6.2bnat 2024-02-29StandaloneAssets
Total assets¥6.3bnat 2023-02-28dStandaloneTotal assets (5-year summary)
Total assets¥6.1bnat 2022-02-28dStandaloneTotal assets (5-year summary)
Total assets¥5.9bnat 2021-02-28dStandaloneTotal assets (5-year summary)
Total liabilities¥3.2bnat 2025-02-28StandaloneLiabilities
Total liabilities¥3.2bnat 2024-02-29StandaloneLiabilities
Net assets / equity¥3.5bnat 2025-02-28StandaloneNet assets
Net assets / equity¥3.0bnat 2024-02-29StandaloneNet assets
Net assets / equity¥3.0bnat 2023-02-28dStandaloneNet assets
Net assets / equity¥2.5bnat 2022-02-28dStandaloneNet assets (5-year summary)
Net assets / equity¥2.2bnat 2021-02-28dStandaloneNet assets (5-year summary)
Cash and deposits¥676mat 2025-02-28StandaloneCash and deposits
Cash and deposits¥664mat 2024-02-29StandaloneCash and deposits
EPS (basic)¥56.132024-03-01 → 2025-02-28StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥105.512023-03-01 → 2024-02-29StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥88.542022-03-01 → 2023-02-28dStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥90.382021-03-01 → 2022-02-28dStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥31.852020-03-01 → 2021-02-28dStandaloneBasic earnings loss per share (5-year summary)
EPS (diluted)¥55.242024-03-01 → 2025-02-28StandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥104.362023-03-01 → 2024-02-29StandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥85.722022-03-01 → 2023-02-28dStandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥86.872021-03-01 → 2022-02-28dStandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥29.632020-03-01 → 2021-02-28dStandaloneDiluted earnings per share (5-year summary)
Dividend per share¥352024-03-01 → 2025-02-28StandaloneDividend paid per share (5-year summary)
Dividend per share¥332023-03-01 → 2024-02-29StandaloneDividend paid per share (5-year summary)
Dividend per share¥322022-03-01 → 2023-02-28dStandaloneDividend paid per share (5-year summary)
Dividend per share¥262021-03-01 → 2022-02-28dStandaloneDividend paid per share (5-year summary)
Dividend per share¥302020-03-01 → 2021-02-28dStandaloneDividend paid per share (5-year summary)
Net assets per share¥512.94at 2025-02-28StandaloneNet assets per share (5-year summary)
Net assets per share¥466.78at 2024-02-29StandaloneNet assets per share (5-year summary)
Net assets per share¥440.41at 2023-02-28dStandaloneNet assets per share (5-year summary)
Net assets per share¥381.94at 2022-02-28dStandaloneNet assets per share (5-year summary)
Net assets per share¥330.74at 2021-02-28dStandaloneNet assets per share (5-year summary)
Equity ratio52.1%at 2025-02-28StandaloneEquity to asset ratio (5-year summary)
Equity ratio48.2%at 2024-02-29StandaloneEquity to asset ratio (5-year summary)
Equity ratio46.6%at 2023-02-28dStandaloneEquity to asset ratio (5-year summary)
Equity ratio40.8%at 2022-02-28dStandaloneEquity to asset ratio (5-year summary)
Equity ratio37.3%at 2021-02-28dStandaloneEquity to asset ratio (5-year summary)
ROE11.6%2024-03-01 → 2025-02-28StandaloneRate of return on equity (5-year summary)
ROE23.2%2023-03-01 → 2024-02-29StandaloneRate of return on equity (5-year summary)
ROE21.4%2022-03-01 → 2023-02-28dStandaloneRate of return on equity (5-year summary)
ROE25.3%2021-03-01 → 2022-02-28dStandaloneRate of return on equity (5-year summary)
ROE9.8%2020-03-01 → 2021-02-28dStandaloneRate of return on equity (5-year summary)
Shares issued7,018,500at 2025-02-28StandaloneTotal number of issued shares (5-year summary)
Shares issued6,954,440at 2024-02-29StandaloneTotal number of issued shares (5-year summary)
Shares issued6,871,520at 2023-02-28dStandaloneTotal number of issued shares (5-year summary)
Shares issued6,740,720at 2022-02-28dStandaloneTotal number of issued shares (5-year summary)
Shares issued6,704,560at 2021-02-28dStandaloneTotal number of issued shares (5-year summary)
Employees500at 2025-02-28StandaloneNumber of employees
Employees515at 2024-02-29StandaloneNumber of employees
Employees512at 2023-02-28dStandaloneNumber of employees
Employees529at 2022-02-28dStandaloneNumber of employees
Employees514at 2021-02-28dStandaloneNumber of employees

Periods use the dates stated in the filing. d = earlier-year period dated by calendar; v = that date confirmed by the company's own earlier filing.

All source rows · 1,402
ItemContextValueUnit
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000YoshizakiKoichiroMember
Original text (Japanese)吉崎 浩一郎
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000YoshizakiKoichiroMember1966-11-28
Career summary information about directors and corporate auditors (text)FilingDateInstant_jpcrp030000-asr_E33037-000YoshizakiKoichiroMemberText · Plus
Term of office information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000YoshizakiKoichiroMember
Original text (Japanese)(注)3
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000ShinmuraKazuhiroMember
Original text (Japanese)取締役
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000ShinmuraKazuhiroMember
Original text (Japanese)新村 和大
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000ShinmuraKazuhiroMember1980-01-14
Career summary information about directors and corporate auditors (text)FilingDateInstant_jpcrp030000-asr_E33037-000ShinmuraKazuhiroMemberText · Plus
Term of office information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000ShinmuraKazuhiroMember
Original text (Japanese)(注)3
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000SudaMireiMember
Original text (Japanese)常勤監査役
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000SudaMireiMember
Original text (Japanese)須田 美玲
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000SudaMireiMember1981-05-26
Career summary information about directors and corporate auditors (text)FilingDateInstant_jpcrp030000-asr_E33037-000SudaMireiMemberText · Plus
Term of office information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000SudaMireiMember
Original text (Japanese)(注)4
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000TakeuchiAkiraMember
Original text (Japanese)監査役
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000TakeuchiAkiraMember
Original text (Japanese)竹内 朗
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000TakeuchiAkiraMember1967-05-25
Career summary information about directors and corporate auditors (text)FilingDateInstant_jpcrp030000-asr_E33037-000TakeuchiAkiraMemberText · Plus
Term of office information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000TakeuchiAkiraMember
Original text (Japanese)(注)5
Official title or position information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000KaminoYoshitakeMember
Original text (Japanese)監査役
Name information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000KaminoYoshitakeMember
Original text (Japanese)紙野 愛健
Date of birth information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000KaminoYoshitakeMember1968-03-04
Career summary information about directors and corporate auditors (text)FilingDateInstant_jpcrp030000-asr_E33037-000KaminoYoshitakeMemberText · Plus
Term of office information about directors and corporate auditorsFilingDateInstant_jpcrp030000-asr_E33037-000KaminoYoshitakeMember
Original text (Japanese)(注)5
Footnotes directors and corporate auditors (text)FilingDateInstant_Row1MemberText · Plus
Footnotes directors and corporate auditors (text)FilingDateInstant_Row2MemberText · Plus
Footnotes directors and corporate auditors (text)FilingDateInstant_Row3MemberText · Plus
Footnotes directors and corporate auditors (text)FilingDateInstant_Row4MemberText · Plus
Footnotes directors and corporate auditors (text)FilingDateInstant_Row5MemberText · Plus
Footnotes directors and corporate auditors (text)FilingDateInstant_Row6MemberText · Plus
Outside directors and outside corporate auditors (text)FilingDateInstantText · Plus
Audits (text)FilingDateInstantText · Plus
Remuneration for directors and other officers (text)FilingDateInstantText · Plus
Shareholdings (text)FilingDateInstantText · Plus
Reason for increase in number of shares shares not listed investment shares held for purposes other than pure investment reporting companyCurrentYearDuration
Original text (Japanese)取引・協業関係の構築・維持・強化の為
Reason for increase in number of shares shares other than those not listed investment shares held for purposes other than pure investment reporting companyCurrentYearDuration-
Name of securities details of specified investment equity securities held for purposes other than pure investment reporting companyCurrentYearInstant_Row1Member
Original text (Japanese)株式会社光通信
Purpose of shareholding overview of business alliance quantitative effects of shareholding and reason for increase in number of shares details of specified investment shares held for purposes other than pure investment reporting companyCurrentYearInstant_Row1Member
Original text (Japanese)(保有目的)市場調査及び情報収集の目的のため
Whether issuer of aforementioned shares holds reporting companys shares details of specified investment shares held for purposes other than pure investment reporting companyCurrentYearInstant_Row1Member
Original text (Japanese)有
Name of securities details of specified investment equity securities held for purposes other than pure investment reporting companyCurrentYearInstant_Row2Member
Original text (Japanese)株式会社大塚商会
Purpose of shareholding overview of business alliance quantitative effects of shareholding and reason for increase in number of shares details of specified investment shares held for purposes other than pure investment reporting companyCurrentYearInstant_Row2Member
Original text (Japanese)(保有目的)市場調査及び情報収集の目的のため(株式数が増加した理由)発行会社の株式分割による(注4)
Whether issuer of aforementioned shares holds reporting companys shares details of specified investment shares held for purposes other than pure investment reporting companyCurrentYearInstant_Row2Member
Original text (Japanese)無
Name of securities details of specified investment equity securities held for purposes other than pure investment reporting companyCurrentYearInstant_Row3Member
Original text (Japanese)スターティアホールディングス株式会社
Purpose of shareholding overview of business alliance quantitative effects of shareholding and reason for increase in number of shares details of specified investment shares held for purposes other than pure investment reporting companyCurrentYearInstant_Row3Member
Original text (Japanese)(保有目的)市場調査及び情報収集の目的のため
Whether issuer of aforementioned shares holds reporting companys shares details of specified investment shares held for purposes other than pure investment reporting companyCurrentYearInstant_Row3Member
Original text (Japanese)無
Footnotes specified investment shares held for purposes other than pure investment reporting company (text)CurrentYearInstant_Row1MemberText · Plus
Footnotes specified investment shares held for purposes other than pure investment reporting company (text)CurrentYearInstant_Row2MemberText · Plus
Footnotes specified investment shares held for purposes other than pure investment reporting company (text)CurrentYearInstant_Row3MemberText · Plus
Footnotes specified investment shares held for purposes other than pure investment reporting company (text)CurrentYearInstant_Row4MemberText · Plus
Regulations in accordance with which consolidated financial statements have been prepared financial informationCurrentYearDurationText · Plus

Every row of the EDINET CSV. Item names are the XBRL element names; filed text is kept in its original Japanese. Filed text is available on Plus and Pro.

Data checks · 24 of 24 passed
balance sheet identityconsolidated 2024-02-29pass rounding
balance sheet identityconsolidated 2025-02-28pass
balance sheet identitynon_consolidated 2024-02-29pass
balance sheet identitynon_consolidated 2025-02-28pass
dei present pass
period resolution pass
statement vs summary · net assetsconsolidated 2023-02-28pass
statement vs summary · net assetsconsolidated 2024-02-29pass
statement vs summary · net assetsconsolidated 2025-02-28pass
statement vs summary · net assetsnon_consolidated 2023-02-28pass
statement vs summary · net assetsnon_consolidated 2024-02-29pass
statement vs summary · net assetsnon_consolidated 2025-02-28pass
statement vs summary · net income attributable to parentconsolidated 2023-03-01/2024-02-29pass
statement vs summary · net income attributable to parentconsolidated 2024-03-01/2025-02-28pass
statement vs summary · operating cash flowconsolidated 2023-03-01/2024-02-29pass
statement vs summary · operating cash flowconsolidated 2024-03-01/2025-02-28pass
statement vs summary · revenueconsolidated 2023-03-01/2024-02-29pass
statement vs summary · revenueconsolidated 2024-03-01/2025-02-28pass
statement vs summary · revenuenon_consolidated 2023-03-01/2024-02-29pass
statement vs summary · revenuenon_consolidated 2024-03-01/2025-02-28pass
statement vs summary · total assetsconsolidated 2024-02-29pass
statement vs summary · total assetsconsolidated 2025-02-28pass
statement vs summary · total assetsnon_consolidated 2024-02-29pass
statement vs summary · total assetsnon_consolidated 2025-02-28pass