PAPANETS Income Statement

Financials in millions JPY. Fiscal year is March - February.

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Revenue	5,803	5,367	4,491	4,007	3,629	3,541
Revenue Growth (YoY)	15.16%	19.51%	12.08%	10.42%	2.48%	-2.80%
Cost of Revenue	3,885	3,646	3,071	2,765	2,498	2,510
Gross Profit	1,918	1,721	1,420	1,242	1,131	1,031
Selling, General & Admin	1,432	1,328	1,082	948	888	868
Operating Expenses	1,456	1,352	1,082	948	888	868
Operating Income	462	369	338	294	243	163
Interest Expense	-2	-3	-4	-4	-5	-6
Currency Exchange Gain (Loss)	-	-	3	-	-	-
Other Non Operating Income (Expenses)	-6	2	4	3	4	-
EBT Excluding Unusual Items	454	368	341	293	242	157
Gain (Loss) on Sale of Assets	-	-	-	-	-	12
Asset Writedown	-6	-6	-	-	-	-
Pretax Income	448	362	341	293	242	169
Income Tax Expense	127	106	106	91	85	58
Net Income to Company	-	256	235	202	157	111
Net Income	321	256	235	202	157	111
Net Income to Common	321	256	235	202	157	111
Net Income Growth	10.50%	8.94%	16.34%	28.66%	41.44%	-36.21%
Shares Outstanding (Basic)	2	2	0	0	0	0
Shares Outstanding (Diluted)	2	2	0	0	0	0
Shares Change (YoY)	41.97%	830.39%	-0.62%	-	-	-
EPS (Basic)	182.51	160.50	1370.79	1171.01	910.14	643.48
EPS (Diluted)	182.51	160.50	1370.79	1171.01	910.14	643.48
EPS Growth	-22.17%	-88.29%	17.06%	28.66%	41.44%	-36.21%
Free Cash Flow	-	313	300	242	125	78
Free Cash Flow Per Share	-	196.24	1749.94	1402.90	724.64	452.17
Gross Margin	33.05%	32.07%	31.62%	31.00%	31.17%	29.12%
Operating Margin	7.96%	6.88%	7.53%	7.34%	6.70%	4.60%
Profit Margin	5.53%	4.77%	5.23%	5.04%	4.33%	3.14%
Free Cash Flow Margin	-	5.83%	6.68%	6.04%	3.44%	2.20%
EBITDA	515.25	420	385	334	287	204
EBITDA Margin	8.88%	7.83%	8.57%	8.33%	7.91%	5.76%
D&A For EBITDA	53.25	51	47	40	44	41
EBIT	462	369	338	294	243	163
EBIT Margin	7.96%	6.88%	7.53%	7.34%	6.70%	4.60%
Effective Tax Rate	28.35%	29.28%	31.09%	31.06%	35.12%	34.32%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.