Hikari Heights-Varus Income Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Revenue	3,045	3,043	3,025	3,053	3,085	3,108
Revenue Growth (YoY)	0.76%	0.60%	-0.92%	-1.04%	-0.74%	-1.74%
Cost of Revenue	3,185	3,088	2,725	2,729	2,703	2,657
Gross Profit	-140	-45	300	324	382	451
Selling, General & Admin	193	192	190	190	194	202
Other Operating Expenses	118	118	115	118	116	116
Operating Expenses	318	317	311	314	320	326
Operating Income	-458	-362	-11	10	62	125
Interest Expense	-23	-23	-22	-24	-26	-27
Interest & Investment Income	37	45	18	-	-	-
Currency Exchange Gain (Loss)	-11	-68	-	-	-	-
Other Non Operating Income (Expenses)	165	144	72	66	42	63
EBT Excluding Unusual Items	-290	-264	57	52	78	161
Gain (Loss) on Sale of Investments	-	-	-	-	1	-
Pretax Income	-290	-264	57	52	79	161
Income Tax Expense	-1	32	15	7	6	61
Net Income	-289	-296	42	45	73	100
Net Income to Common	-289	-296	42	45	73	100
Net Income Growth	-	-	-6.67%	-38.36%	-27.00%	-7.41%
Shares Outstanding (Basic)	2	2	2	2	2	2
Shares Outstanding (Diluted)	2	2	2	2	2	2
EPS (Basic)	-138.33	-141.68	20.10	21.54	34.94	47.87
EPS (Diluted)	-138.33	-141.68	20.10	21.54	34.94	47.87
EPS Growth	-	-	-6.67%	-38.36%	-27.00%	-7.41%
Free Cash Flow	-	-353	91	435	9	-13
Free Cash Flow Per Share	-	-168.96	43.56	208.21	4.31	-6.22
Gross Margin	-4.60%	-1.48%	9.92%	10.61%	12.38%	14.51%
Operating Margin	-15.04%	-11.90%	-0.36%	0.33%	2.01%	4.02%
Profit Margin	-9.49%	-9.73%	1.39%	1.47%	2.37%	3.22%
Free Cash Flow Margin	-	-11.60%	3.01%	14.25%	0.29%	-0.42%
EBITDA	-370.5	-285	52	70	126	184
EBITDA Margin	-12.17%	-9.37%	1.72%	2.29%	4.08%	5.92%
D&A For EBITDA	87.5	77	63	60	64	59
EBIT	-458	-362	-11	10	62	125
EBIT Margin	-15.04%	-11.90%	-0.36%	0.33%	2.01%	4.02%
Effective Tax Rate	-	-	26.32%	13.46%	7.60%	37.89%
Advertising Expenses	-	14	16	11	13	11

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