Nippon Carbon 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	37,735	37,956	37,867	35,799	31,578
Revenue Growth (YoY)	-0.58%	0.24%	5.78%	13.37%	17.82%
Cost of Revenue	27,477	26,471	26,016	25,950	23,539
Gross Profit	10,258	11,485	11,851	9,849	8,039
Selling, General & Admin	5,448	4,728	4,952	4,782	4,035
Research & Development	-	437	324	276	297
Operating Expenses	5,448	5,311	5,422	5,204	4,481
Operating Income	4,810	6,174	6,429	4,645	3,558
Interest Expense	-112	-62	-44	-52	-61
Interest & Investment Income	370	267	179	131	103
Earnings From Equity Investments	100	166	146	79	42
Currency Exchange Gain (Loss)	207	149	227	250	146
Other Non Operating Income (Expenses)	-213	114	264	144	665
EBT Excluding Unusual Items	5,162	6,808	7,201	5,197	4,453
Gain (Loss) on Sale of Investments	3,530	6	22	183	179
Gain (Loss) on Sale of Assets	-61	79	-87	-156	-20
Other Unusual Items	-803	1	-158	-	-182
Pretax Income	7,828	6,894	6,978	5,224	4,430
Income Tax Expense	2,441	2,093	2,232	1,579	1,370
Earnings From Continuing Operations	5,387	4,801	4,746	3,645	3,060
Minority Interest in Earnings	-557	-723	-696	-451	-331
Net Income	4,830	4,078	4,050	3,194	2,729
Net Income to Common	4,830	4,078	4,050	3,194	2,729
Net Income Growth	18.44%	0.69%	26.80%	17.04%	50.77%
Shares Outstanding (Basic)	11	11	11	11	11
Shares Outstanding (Diluted)	11	11	11	11	11
Shares Change (YoY)	0.04%	0.07%	0.01%	-0.05%	-0.15%
EPS (Basic)	436.83	368.97	366.71	289.22	246.99
EPS (Diluted)	436.83	368.97	366.71	289.22	246.99
EPS Growth	18.39%	0.62%	26.79%	17.10%	51.00%
Free Cash Flow	818	567	133	4,023	6,023
Free Cash Flow Per Share	73.98	51.30	12.04	364.28	545.12
Dividend Per Share	-	200.000	200.000	200.000	200.000
Gross Margin	27.18%	30.26%	31.30%	27.51%	25.46%
Operating Margin	12.75%	16.27%	16.98%	12.97%	11.27%
Profit Margin	12.80%	10.74%	10.70%	8.92%	8.64%
Free Cash Flow Margin	2.17%	1.49%	0.35%	11.24%	19.07%
EBITDA	8,344	9,160	9,095	7,129	5,943
EBITDA Margin	22.11%	24.13%	24.02%	19.91%	18.82%
D&A For EBITDA	3,534	2,986	2,666	2,484	2,385
EBIT	4,810	6,174	6,429	4,645	3,558
EBIT Margin	12.75%	16.27%	16.98%	12.97%	11.27%
Effective Tax Rate	31.18%	30.36%	31.99%	30.23%	30.93%

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