Annual report

Period2024-04-01 → 2025-03-31
Filed2025-06-20
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed

Amended by S100WA5H (2025-07-01).

Key figures · 158
MetricValuePeriodScopeSource row
Revenue¥7.6bn2024-04-01 → 2025-03-31Cons.Net sales
Revenue¥6.8bn2023-04-01 → 2024-03-31Cons.Net sales
Revenue¥6.6bn2022-04-01 → 2023-03-31dCons.Net sales (5-year summary)
Revenue¥6.7bn2021-04-01 → 2022-03-31dCons.Net sales (5-year summary)
Revenue¥5.4bn2020-04-01 → 2021-03-31dCons.Net sales (5-year summary)
Operating income¥2.3bn2024-04-01 → 2025-03-31Cons.Operating income
Operating income¥1.6bn2023-04-01 → 2024-03-31Cons.Operating income
Ordinary income¥2.4bn2024-04-01 → 2025-03-31Cons.Ordinary income
Ordinary income¥1.9bn2023-04-01 → 2024-03-31Cons.Ordinary income
Ordinary income¥1.8bn2022-04-01 → 2023-03-31dCons.Ordinary income loss (5-year summary)
Ordinary income¥2.3bn2021-04-01 → 2022-03-31dCons.Ordinary income loss (5-year summary)
Ordinary income¥1.8bn2020-04-01 → 2021-03-31dCons.Ordinary income loss (5-year summary)
Profit before tax¥2.5bn2024-04-01 → 2025-03-31Cons.Income before income taxes
Profit before tax¥1.9bn2023-04-01 → 2024-03-31Cons.Income before income taxes
Net income (owners)¥1.9bn2024-04-01 → 2025-03-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥1.3bn2023-04-01 → 2024-03-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥1.3bn2022-04-01 → 2023-03-31dCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥1.6bn2021-04-01 → 2022-03-31dCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥1.2bn2020-04-01 → 2021-03-31dCons.Profit loss attributable to owners of parent (5-year summary)
Net income¥1.9bn2024-04-01 → 2025-03-31Cons.Profit loss
Net income¥1.3bn2023-04-01 → 2024-03-31Cons.Profit loss
Total assets¥11.4bnat 2025-03-31Cons.Assets
Total assets¥9.7bnat 2024-03-31Cons.Assets
Total assets¥8.6bnat 2023-03-31dCons.Total assets (5-year summary)
Total assets¥13.5bnat 2022-03-31dCons.Total assets (5-year summary)
Total assets¥11.9bnat 2021-03-31dCons.Total assets (5-year summary)
Total liabilities¥2.5bnat 2025-03-31Cons.Liabilities
Total liabilities¥2.2bnat 2024-03-31Cons.Liabilities
Net assets / equity¥8.9bnat 2025-03-31Cons.Net assets
Net assets / equity¥7.6bnat 2024-03-31Cons.Net assets
Net assets / equity¥6.7bnat 2023-03-31dCons.Net assets
Net assets / equity¥11.3bnat 2022-03-31dCons.Net assets (5-year summary)
Net assets / equity¥10.0bnat 2021-03-31dCons.Net assets (5-year summary)
Cash and deposits¥6.5bnat 2025-03-31Cons.Cash and deposits
Cash and deposits¥5.8bnat 2024-03-31Cons.Cash and deposits
Cash & equivalents¥3.5bnat 2025-03-31Cons.Cash and cash equivalents
Cash & equivalents¥2.8bnat 2024-03-31Cons.Cash and cash equivalents
Cash & equivalents¥2.2bnat 2023-03-31dCons.Cash and cash equivalents
Cash & equivalents¥7.3bnat 2022-03-31dCons.Cash and cash equivalents (5-year summary)
Cash & equivalents¥5.4bnat 2021-03-31dCons.Cash and cash equivalents (5-year summary)
Operating cash flow¥1.5bn2024-04-01 → 2025-03-31Cons.Net cash provided by used in operating activities
Operating cash flow¥1.4bn2023-04-01 → 2024-03-31Cons.Net cash provided by used in operating activities
Operating cash flow¥1.1bn2022-04-01 → 2023-03-31dCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥2.3bn2021-04-01 → 2022-03-31dCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥909m2020-04-01 → 2021-03-31dCons.Net cash provided by used in operating activities (5-year summary)
Investing cash flow−¥317m2024-04-01 → 2025-03-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥237m2023-04-01 → 2024-03-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥199m2022-04-01 → 2023-03-31dCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥95m2021-04-01 → 2022-03-31dCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥150m2020-04-01 → 2021-03-31dCons.Net cash provided by used in investing activities (5-year summary)
Financing cash flow−¥531m2024-04-01 → 2025-03-31Cons.Net cash provided by used in financing activities
Financing cash flow−¥572m2023-04-01 → 2024-03-31Cons.Net cash provided by used in financing activities
Financing cash flow−¥6.0bn2022-04-01 → 2023-03-31dCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow−¥397m2021-04-01 → 2022-03-31dCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow−¥582m2020-04-01 → 2021-03-31dCons.Net cash provided by used in financing activities (5-year summary)
EPS (basic)¥156.062024-04-01 → 2025-03-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥109.652023-04-01 → 2024-03-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥96.532022-04-01 → 2023-03-31dCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥103.22021-04-01 → 2022-03-31dCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥77.982020-04-01 → 2021-03-31dCons.Basic earnings loss per share (5-year summary)
EPS (diluted)¥155.892024-04-01 → 2025-03-31Cons.Diluted earnings per share (5-year summary)
EPS (diluted)¥109.532023-04-01 → 2024-03-31Cons.Diluted earnings per share (5-year summary)
EPS (diluted)¥95.962022-04-01 → 2023-03-31dCons.Diluted earnings per share (5-year summary)
EPS (diluted)¥102.232021-04-01 → 2022-03-31dCons.Diluted earnings per share (5-year summary)
EPS (diluted)¥77.092020-04-01 → 2021-03-31dCons.Diluted earnings per share (5-year summary)
Net assets per share¥704.97at 2025-03-31Cons.Net assets per share (5-year summary)
Net assets per share¥593.25at 2024-03-31Cons.Net assets per share (5-year summary)
Net assets per share¥525.5at 2023-03-31dCons.Net assets per share (5-year summary)
Net assets per share¥719.53at 2022-03-31dCons.Net assets per share (5-year summary)
Net assets per share¥642.53at 2021-03-31dCons.Net assets per share (5-year summary)
Equity ratio76.8%at 2025-03-31Cons.Equity to asset ratio (5-year summary)
Equity ratio75.1%at 2024-03-31Cons.Equity to asset ratio (5-year summary)
Equity ratio75.0%at 2023-03-31dCons.Equity to asset ratio (5-year summary)
Equity ratio82.4%at 2022-03-31dCons.Equity to asset ratio (5-year summary)
Equity ratio83.0%at 2021-03-31dCons.Equity to asset ratio (5-year summary)
ROE24.1%2024-04-01 → 2025-03-31Cons.Rate of return on equity (5-year summary)
ROE19.6%2023-04-01 → 2024-03-31Cons.Rate of return on equity (5-year summary)
ROE14.8%2022-04-01 → 2023-03-31dCons.Rate of return on equity (5-year summary)
ROE15.1%2021-04-01 → 2022-03-31dCons.Rate of return on equity (5-year summary)
ROE12.5%2020-04-01 → 2021-03-31dCons.Rate of return on equity (5-year summary)
Employees258at 2025-03-31Cons.Number of employees
Employees241at 2024-03-31Cons.Number of employees
Employees216at 2023-03-31dCons.Number of employees
Employees201at 2022-03-31dCons.Number of employees
Employees206at 2021-03-31dCons.Number of employees
Revenue¥7.6bn2024-04-01 → 2025-03-31StandaloneNet sales
Revenue¥6.8bn2023-04-01 → 2024-03-31StandaloneNet sales
Revenue¥6.6bn2022-04-01 → 2023-03-31dStandaloneNet sales (5-year summary)
Revenue¥6.6bn2021-04-01 → 2022-03-31dStandaloneNet sales (5-year summary)
Revenue¥5.2bn2020-04-01 → 2021-03-31dStandaloneNet sales (5-year summary)
Operating income¥2.3bn2024-04-01 → 2025-03-31StandaloneOperating income
Operating income¥1.6bn2023-04-01 → 2024-03-31StandaloneOperating income
Ordinary income¥2.4bn2024-04-01 → 2025-03-31StandaloneOrdinary income
Ordinary income¥1.9bn2023-04-01 → 2024-03-31StandaloneOrdinary income
Ordinary income¥1.8bn2022-04-01 → 2023-03-31dStandaloneOrdinary income loss (5-year summary)
Ordinary income¥2.3bn2021-04-01 → 2022-03-31dStandaloneOrdinary income loss (5-year summary)
Ordinary income¥1.7bn2020-04-01 → 2021-03-31dStandaloneOrdinary income loss (5-year summary)
Profit before tax¥2.5bn2024-04-01 → 2025-03-31StandaloneIncome before income taxes
Profit before tax¥1.9bn2023-04-01 → 2024-03-31StandaloneIncome before income taxes
Net income¥1.9bn2024-04-01 → 2025-03-31StandaloneProfit loss
Net income¥1.3bn2023-04-01 → 2024-03-31StandaloneProfit loss
Net income¥1.3bn2022-04-01 → 2023-03-31dStandaloneNet income loss (5-year summary)
Net income¥1.6bn2021-04-01 → 2022-03-31dStandaloneNet income loss (5-year summary)
Net income¥1.2bn2020-04-01 → 2021-03-31dStandaloneNet income loss (5-year summary)
Total assets¥11.1bnat 2025-03-31StandaloneAssets
Total assets¥9.5bnat 2024-03-31StandaloneAssets
Total assets¥8.4bnat 2023-03-31dStandaloneTotal assets (5-year summary)
Total assets¥13.3bnat 2022-03-31dStandaloneTotal assets (5-year summary)
Total assets¥11.6bnat 2021-03-31dStandaloneTotal assets (5-year summary)
Total liabilities¥2.5bnat 2025-03-31StandaloneLiabilities
Total liabilities¥2.2bnat 2024-03-31StandaloneLiabilities
Net assets / equity¥8.6bnat 2025-03-31StandaloneNet assets
Net assets / equity¥7.3bnat 2024-03-31StandaloneNet assets
Net assets / equity¥6.4bnat 2023-03-31dStandaloneNet assets
Net assets / equity¥11.1bnat 2022-03-31dStandaloneNet assets (5-year summary)
Net assets / equity¥9.8bnat 2021-03-31dStandaloneNet assets (5-year summary)
Cash and deposits¥6.2bnat 2025-03-31StandaloneCash and deposits
Cash and deposits¥5.6bnat 2024-03-31StandaloneCash and deposits
EPS (basic)¥156.052024-04-01 → 2025-03-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥109.532023-04-01 → 2024-03-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥97.62022-04-01 → 2023-03-31dStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥101.722021-04-01 → 2022-03-31dStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥76.952020-04-01 → 2021-03-31dStandaloneBasic earnings loss per share (5-year summary)
EPS (diluted)¥155.882024-04-01 → 2025-03-31StandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥109.422023-04-01 → 2024-03-31StandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥97.022022-04-01 → 2023-03-31dStandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥100.762021-04-01 → 2022-03-31dStandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥76.072020-04-01 → 2021-03-31dStandaloneDiluted earnings per share (5-year summary)
Dividend per share¥632024-04-01 → 2025-03-31StandaloneDividend paid per share (5-year summary)
Dividend per share¥502023-04-01 → 2024-03-31StandaloneDividend paid per share (5-year summary)
Dividend per share¥472022-04-01 → 2023-03-31dStandaloneDividend paid per share (5-year summary)
Dividend per share¥502021-04-01 → 2022-03-31dStandaloneDividend paid per share (5-year summary)
Dividend per share¥352020-04-01 → 2021-03-31dStandaloneDividend paid per share (5-year summary)
Net assets per share¥683.62at 2025-03-31StandaloneNet assets per share (5-year summary)
Net assets per share¥571.78at 2024-03-31StandaloneNet assets per share (5-year summary)
Net assets per share¥504.13at 2023-03-31dStandaloneNet assets per share (5-year summary)
Net assets per share¥701.63at 2022-03-31dStandaloneNet assets per share (5-year summary)
Net assets per share¥625.98at 2021-03-31dStandaloneNet assets per share (5-year summary)
Equity ratio76.2%at 2025-03-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio74.4%at 2024-03-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio74.2%at 2023-03-31dStandaloneEquity to asset ratio (5-year summary)
Equity ratio82.1%at 2022-03-31dStandaloneEquity to asset ratio (5-year summary)
Equity ratio82.9%at 2021-03-31dStandaloneEquity to asset ratio (5-year summary)
ROE24.9%2024-04-01 → 2025-03-31StandaloneRate of return on equity (5-year summary)
ROE20.4%2023-04-01 → 2024-03-31StandaloneRate of return on equity (5-year summary)
ROE15.4%2022-04-01 → 2023-03-31dStandaloneRate of return on equity (5-year summary)
ROE15.3%2021-04-01 → 2022-03-31dStandaloneRate of return on equity (5-year summary)
ROE12.6%2020-04-01 → 2021-03-31dStandaloneRate of return on equity (5-year summary)
Shares issued15,670,700at 2025-03-31StandaloneTotal number of issued shares (5-year summary)
Shares issued15,614,800at 2024-03-31StandaloneTotal number of issued shares (5-year summary)
Shares issued15,609,800at 2023-03-31dStandaloneTotal number of issued shares (5-year summary)
Shares issued15,502,800at 2022-03-31dStandaloneTotal number of issued shares (5-year summary)
Shares issued15,385,800at 2021-03-31dStandaloneTotal number of issued shares (5-year summary)
Employees258at 2025-03-31StandaloneNumber of employees
Employees241at 2024-03-31StandaloneNumber of employees
Employees216at 2023-03-31dStandaloneNumber of employees
Employees200at 2022-03-31dStandaloneNumber of employees
Employees198at 2021-03-31dStandaloneNumber 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.

Segments · 26
SegmentItemPeriodValue
Reconciling Itemsreconcilingrevenue2024-04-01 → 2025-03-31−¥35m
Reconciling Itemsreconcilingrevenue intersegment2024-04-01 → 2025-03-31−¥35m
Reconciling Itemsreconcilingsegment profit2024-04-01 → 2025-03-31¥2m
Other Businessesreportable segmentrevenue2024-04-01 → 2025-03-31¥185m
Other Businessesreportable segmentrevenue external2024-04-01 → 2025-03-31¥150m
Other Businessesreportable segmentrevenue intersegment2024-04-01 → 2025-03-31¥35m
Other Businessesreportable segmentsegment profit2024-04-01 → 2025-03-31¥26m
Package Solutionreportable segmentdepreciation2024-04-01 → 2025-03-31¥115m
Package Solutionreportable segmentemployeesat 2025-03-31251 pure
Package Solutionreportable segmentrevenue2024-04-01 → 2025-03-31¥7.4bn
Package Solutionreportable segmentrevenue external2024-04-01 → 2025-03-31¥7.4bn
Package Solutionreportable segmentsegment profit2024-04-01 → 2025-03-31¥2.3bn
—segment totalemployeesat 2025-03-31251 pure
Reconciling Itemsreconcilingrevenue2023-04-01 → 2024-03-31−¥38m
Reconciling Itemsreconcilingrevenue intersegment2023-04-01 → 2024-03-31−¥38m
Reconciling Itemsreconcilingsegment profit2023-04-01 → 2024-03-31¥2m
Other Businessesreportable segmentrevenue2023-04-01 → 2024-03-31¥135m
Other Businessesreportable segmentrevenue external2023-04-01 → 2024-03-31¥97m
Other Businessesreportable segmentrevenue intersegment2023-04-01 → 2024-03-31¥38m
Other Businessesreportable segmentsegment profit2023-04-01 → 2024-03-31¥18m
Package Solutionreportable segmentdepreciation2023-04-01 → 2024-03-31¥125m
Package Solutionreportable segmentrevenue2023-04-01 → 2024-03-31¥6.7bn
Package Solutionreportable segmentrevenue external2023-04-01 → 2024-03-31¥6.7bn
Package Solutionreportable segmentsegment profit2023-04-01 → 2024-03-31¥1.6bn
Package Solutionreportable segmentemployeesat 2025-03-31251 pure
—segment totalemployeesat 2025-03-31251 pure

Segment names come from EDINET member IDs; not yet mapped to a common taxonomy.

All source rows · 1,373
ItemContextValueUnit
Performance description of metrics related to policy on development of human resources and internal environment and targets and performance using such metricsCurrentYearInstant_Row4Member90.1
Targets description of metrics related to policy on development of human resources and internal environment and targets and performance using such metricsCurrentYearInstant_Row5Member100.0
Performance description of metrics related to policy on development of human resources and internal environment and targets and performance using such metricsCurrentYearInstant_Row5Member100.0
Targets description of metrics related to policy on development of human resources and internal environment and targets and performance using such metricsCurrentYearInstant_Row6Member100.0
Performance description of metrics related to policy on development of human resources and internal environment and targets and performance using such metricsCurrentYearInstant_Row6Member66.7
Research and development expenses research and development activitiesCurrentYearDuration456113000JPY
Research and development expenses research and development activitiesCurrentYearDuration_jpcrp030000-asr_E05466-000PackageSolutionReportableSegmentsMember456113000JPY
Capital expenditures overview of capital expenditures etcCurrentYearDuration305648000JPY
Number of issued shares as of fiscal year end issued shares total number of shares etcFilingDateInstant_OrdinaryShareMember15670700
Number of issued shares as of filing date issued shares total number of shares etcFilingDateInstant_OrdinaryShareMember15670700
Number of issued shares as of fiscal year end issued shares total number of shares etcFilingDateInstant15670700
Number of issued shares as of filing date issued shares total number of shares etcFilingDateInstant15670700
Number of shares constituting one unitCurrentYearInstant_OrdinaryShareMember100
Number of shareholders national and local governmentsCurrentYearInstant_OrdinaryShareMember-
Number of shareholders financial institutionsCurrentYearInstant_OrdinaryShareMember9
Number of shareholders financial service providersCurrentYearInstant_OrdinaryShareMember22
Number of shareholders other corporationsCurrentYearInstant_OrdinaryShareMember109
Number of shareholders foreign investors other than individualsCurrentYearInstant_OrdinaryShareMember62
Number of shareholders foreign individual investorsCurrentYearInstant_OrdinaryShareMember24
Number of shareholders individuals and othersCurrentYearInstant_OrdinaryShareMember15046
Number of shareholders totalCurrentYearInstant_OrdinaryShareMember15272
Number of shares held number of units national and local governmentsCurrentYearInstant_OrdinaryShareMember-
Number of shares held number of units financial institutionsCurrentYearInstant_OrdinaryShareMember15685
Number of shares held number of units financial service providersCurrentYearInstant_OrdinaryShareMember1794
Number of shares held number of units other corporationsCurrentYearInstant_OrdinaryShareMember12510
Number of shares held number of units foreign investors other than individualsCurrentYearInstant_OrdinaryShareMember16172
Number of shares held number of units foreign individual investorsCurrentYearInstant_OrdinaryShareMember24
Number of shares held number of units individuals and othersCurrentYearInstant_OrdinaryShareMember109724
Number of shares held number of units totalCurrentYearInstant_OrdinaryShareMember155909
Number of shares held shares less than one unitCurrentYearInstant_OrdinaryShareMember79800
Percentage of shareholdings national and local governmentsCurrentYearInstant_OrdinaryShareMember-
Percentage of shareholdings financial institutionsCurrentYearInstant_OrdinaryShareMember0.101
Percentage of shareholdings financial service providersCurrentYearInstant_OrdinaryShareMember0.012
Percentage of shareholdings other corporationsCurrentYearInstant_OrdinaryShareMember0.080
Percentage of shareholdings foreigners other than individualsCurrentYearInstant_OrdinaryShareMember0.104
Percentage of shareholdings foreign individualsCurrentYearInstant_OrdinaryShareMember0.000
Percentage of shareholdings individuals and othersCurrentYearInstant_OrdinaryShareMember0.704
Number of shares heldCurrentYearInstant_No1MajorShareholdersMember2551000
Shareholding ratioCurrentYearInstant_No1MajorShareholdersMember0.2059
Number of shares heldCurrentYearInstant_No2MajorShareholdersMember928000
Shareholding ratioCurrentYearInstant_No2MajorShareholdersMember0.0749
Number of shares heldCurrentYearInstant_No3MajorShareholdersMember783000
Shareholding ratioCurrentYearInstant_No3MajorShareholdersMember0.0632
Number of shares heldCurrentYearInstant_No4MajorShareholdersMember578000
Shareholding ratioCurrentYearInstant_No4MajorShareholdersMember0.0467
Number of shares heldCurrentYearInstant_No5MajorShareholdersMember575000
Shareholding ratioCurrentYearInstant_No5MajorShareholdersMember0.0464
Number of shares heldCurrentYearInstant_No6MajorShareholdersMember411000
Shareholding ratioCurrentYearInstant_No6MajorShareholdersMember0.0332
Number of shares heldCurrentYearInstant_No7MajorShareholdersMember241000

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 2024-03-31pass
balance sheet identityconsolidated 2025-03-31pass
balance sheet identitynon_consolidated 2024-03-31pass
balance sheet identitynon_consolidated 2025-03-31pass
dei present pass
period resolution pass
statement vs summary · net assetsconsolidated 2023-03-31pass
statement vs summary · net assetsconsolidated 2024-03-31pass
statement vs summary · net assetsconsolidated 2025-03-31pass
statement vs summary · net assetsnon_consolidated 2023-03-31pass
statement vs summary · net assetsnon_consolidated 2024-03-31pass
statement vs summary · net assetsnon_consolidated 2025-03-31pass
statement vs summary · net income attributable to parentconsolidated 2023-04-01/2024-03-31pass
statement vs summary · net income attributable to parentconsolidated 2024-04-01/2025-03-31pass
statement vs summary · operating cash flowconsolidated 2023-04-01/2024-03-31pass
statement vs summary · operating cash flowconsolidated 2024-04-01/2025-03-31pass
statement vs summary · revenueconsolidated 2023-04-01/2024-03-31pass
statement vs summary · revenueconsolidated 2024-04-01/2025-03-31pass
statement vs summary · revenuenon_consolidated 2023-04-01/2024-03-31pass
statement vs summary · revenuenon_consolidated 2024-04-01/2025-03-31pass
statement vs summary · total assetsconsolidated 2024-03-31pass
statement vs summary · total assetsconsolidated 2025-03-31pass
statement vs summary · total assetsnon_consolidated 2024-03-31pass
statement vs summary · total assetsnon_consolidated 2025-03-31pass