EM Systems Income Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	23,658	24,837	20,355	16,919	14,436
Revenue Growth (YoY)	-4.75%	22.02%	20.31%	17.20%	7.95%
Cost of Revenue	11,779	11,275	10,433	8,644	7,345
Gross Profit	11,879	13,562	9,922	8,275	7,091
Selling, General & Admin	7,778	8,685	7,279	5,690	5,016
Research & Development	18	13	8	-	20
Amortization of Goodwill & Intangibles	209	209	209	97	97
Other Operating Expenses	-	-	-1	18	18
Operating Expenses	8,202	9,097	7,591	5,879	5,219
Operating Income	3,677	4,465	2,331	2,396	1,872
Interest Expense	-5	-8	-7	-4	-
Interest & Investment Income	46	22	16	12	192
Earnings From Equity Investments	-	-	-35	-218	-
Other Non Operating Income (Expenses)	595	703	563	605	543
EBT Excluding Unusual Items	4,313	5,182	2,868	2,791	2,607
Gain (Loss) on Sale of Investments	-273	-	-140	-	-
Gain (Loss) on Sale of Assets	-	-	-1	-	-
Asset Writedown	-414	-1,488	-9	-2	-8
Other Unusual Items	-2	-1	31	-	-
Pretax Income	3,624	3,693	2,749	2,789	2,599
Income Tax Expense	1,160	1,246	766	914	787
Earnings From Continuing Operations	2,464	2,447	1,983	1,875	1,812
Minority Interest in Earnings	-12	-22	-21	18	17
Net Income	2,452	2,425	1,962	1,893	1,829
Net Income to Common	2,452	2,425	1,962	1,893	1,829
Net Income Growth	1.11%	23.60%	3.65%	3.50%	42.45%
Shares Outstanding (Basic)	69	70	71	71	71
Shares Outstanding (Diluted)	69	70	71	71	71
Shares Change (YoY)	-1.43%	-0.67%	-0.17%	-0.43%	-0.20%
EPS (Basic)	35.44	34.54	27.76	26.74	25.72
EPS (Diluted)	35.32	34.43	27.68	26.66	25.64
EPS Growth	2.58%	24.39%	3.83%	3.98%	42.77%
Free Cash Flow	1,073	5,359	1,414	2,407	1,596
Free Cash Flow Per Share	15.46	76.09	19.94	33.89	22.37
Dividend Per Share	-	35.000	14.000	12.000	11.000
Dividend Growth	-	150.00%	16.67%	9.09%	-
Gross Margin	50.21%	54.60%	48.74%	48.91%	49.12%
Operating Margin	15.54%	17.98%	11.45%	14.16%	12.97%
Profit Margin	10.36%	9.76%	9.64%	11.19%	12.67%
Free Cash Flow Margin	4.54%	21.58%	6.95%	14.23%	11.06%
EBITDA	4,972	6,029	3,789	3,366	2,845
EBITDA Margin	21.02%	24.27%	18.62%	19.89%	19.71%
D&A For EBITDA	1,295	1,564	1,458	970	973
EBIT	3,677	4,465	2,331	2,396	1,872
EBIT Margin	15.54%	17.98%	11.45%	14.16%	12.97%
Effective Tax Rate	32.01%	33.74%	27.87%	32.77%	30.28%
Advertising Expenses	243	319	597	457	133

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