Masaru Income Statement

Financials in millions JPY. Fiscal year is October - September.

Millions JPY. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Revenue	10,647	8,947	8,635	6,959	7,794
Revenue Growth (YoY)	19.00%	3.61%	24.08%	-10.71%	-31.69%
Cost of Revenue	8,418	7,159	6,900	5,734	6,349
Gross Profit	2,229	1,788	1,735	1,225	1,445
Selling, General & Admin	1,477	1,335	1,206	996	1,007
Amortization of Goodwill & Intangibles	87	21	-	-	-
Operating Expenses	1,591	1,381	1,231	1,027	1,038
Operating Income	638	407	504	198	407
Interest Expense	-11	-14	-1	-2	-3
Interest & Investment Income	2	1	1	2	1
Other Non Operating Income (Expenses)	28	26	17	35	12
EBT Excluding Unusual Items	657	420	521	233	417
Gain (Loss) on Sale of Investments	-	-	-	1	-
Gain (Loss) on Sale of Assets	-	-	-	79	-
Other Unusual Items	-39	-	-	-1	-
Pretax Income	618	420	521	312	417
Income Tax Expense	213	143	177	121	96
Net Income	405	277	344	191	321
Net Income to Common	405	277	344	191	321
Net Income Growth	46.21%	-19.48%	80.11%	-40.50%	-23.02%
Shares Outstanding (Basic)	1	1	1	1	1
Shares Outstanding (Diluted)	1	1	1	1	1
Shares Change (YoY)	0.45%	0.54%	0.50%	0.52%	0.43%
EPS (Basic)	455.68	313.05	390.87	218.12	368.49
EPS (Diluted)	455.68	313.05	390.87	218.12	368.49
EPS Growth	45.56%	-19.91%	79.20%	-40.81%	-23.35%
Free Cash Flow	1,217	413	230	-280	21
Free Cash Flow Per Share	1369.28	466.76	261.34	-319.75	24.11
Dividend Per Share	-	125.000	140.000	80.000	125.000
Dividend Growth	-	-10.71%	75.00%	-36.00%	-21.88%
Gross Margin	20.94%	19.98%	20.09%	17.60%	18.54%
Operating Margin	5.99%	4.55%	5.84%	2.84%	5.22%
Profit Margin	3.80%	3.10%	3.98%	2.74%	4.12%
Free Cash Flow Margin	11.43%	4.62%	2.66%	-4.02%	0.27%
EBITDA	755	455	532	231	440
EBITDA Margin	7.09%	5.09%	6.16%	3.32%	5.64%
D&A For EBITDA	117	48	28	33	33
EBIT	638	407	504	198	407
EBIT Margin	5.99%	4.55%	5.84%	2.84%	5.22%
Effective Tax Rate	34.47%	34.05%	33.97%	38.78%	23.02%

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