Maruha Nichiro 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	1,088,107	1,078,631	1,030,674	1,020,456	866,702	862,585
Revenue Growth (YoY)	1.56%	4.65%	1.00%	17.74%	0.48%	-4.71%
Cost of Revenue	937,199	933,033	896,856	885,201	746,205	746,382
Gross Profit	150,908	145,598	133,818	135,255	120,497	116,203
Selling, General & Admin	118,983	115,216	107,284	105,678	96,677	99,994
Operating Expenses	118,983	115,216	107,284	106,121	96,677	99,994
Operating Income	31,925	30,382	26,534	29,134	23,820	16,209
Interest Expense	-4,334	-4,195	-3,454	-2,281	-1,402	-1,509
Interest & Investment Income	1,249	1,557	1,147	1,001	890	887
Earnings From Equity Investments	-646	-224	356	1,113	808	483
Currency Exchange Gain (Loss)	-876	1,714	3,285	2,340	759	246
Other Non Operating Income (Expenses)	3,158	3,019	3,237	2,192	2,721	1,812
EBT Excluding Unusual Items	30,476	32,253	31,105	33,499	27,596	18,128
Gain (Loss) on Sale of Investments	5,549	10,903	-424	1,095	220	97
Gain (Loss) on Sale of Assets	42	157	84	311	1,149	-763
Asset Writedown	-1,303	-1,303	-797	-385	-1,100	-2,143
Legal Settlements	-	-	-2,429	-	-	-
Other Unusual Items	-1,245	-66	8,351	-2,976	-348	-4,759
Pretax Income	33,513	41,944	35,890	31,544	27,517	10,560
Income Tax Expense	10,040	12,120	11,169	7,058	7,197	1,637
Earnings From Continuing Operations	23,473	29,824	24,721	24,486	20,320	8,923
Minority Interest in Earnings	-5,947	-6,560	-3,868	-5,890	-3,422	-3,145
Net Income	17,526	23,264	20,853	18,596	16,898	5,778
Net Income to Common	17,526	23,264	20,853	18,596	16,898	5,778
Net Income Growth	-19.07%	11.56%	12.14%	10.05%	192.45%	-53.91%
Shares Outstanding (Basic)	151	151	151	153	158	158
Shares Outstanding (Diluted)	151	151	151	153	158	158
Shares Change (YoY)	0.05%	-0.10%	-1.40%	-2.83%	-0.00%	-0.00%
EPS (Basic)	115.96	153.96	137.87	121.22	107.04	36.60
EPS (Diluted)	115.96	153.96	137.87	121.22	107.04	36.60
EPS Growth	-19.10%	11.67%	13.73%	13.25%	192.47%	-53.91%
Free Cash Flow	-	20,176	36,938	-20,383	4,431	10,590
Free Cash Flow Per Share	-	133.52	244.21	-132.87	28.07	67.08
Dividend Per Share	36.667	36.667	28.333	21.667	18.333	13.333
Dividend Growth	10.00%	29.41%	30.77%	18.18%	37.50%	-
Gross Margin	-	13.50%	12.98%	13.25%	13.90%	13.47%
Operating Margin	2.93%	2.82%	2.57%	2.85%	2.75%	1.88%
Profit Margin	1.61%	2.16%	2.02%	1.82%	1.95%	0.67%
Free Cash Flow Margin	-	1.87%	3.58%	-2.00%	0.51%	1.23%
EBITDA	51,699	49,350	44,427	45,829	41,570	33,377
EBITDA Margin	-	4.58%	4.31%	4.49%	4.80%	3.87%
D&A For EBITDA	19,774	18,968	17,893	16,695	17,750	17,168
EBIT	31,925	30,382	26,534	29,134	23,820	16,209
EBIT Margin	-	2.82%	2.57%	2.85%	2.75%	1.88%
Effective Tax Rate	-	28.90%	31.12%	22.38%	26.16%	15.50%

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