TYO:1897 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	8,837	9,743	10,659	9,898	7,633
Revenue Growth (YoY)	-9.30%	-8.59%	7.69%	29.67%	-30.36%
Cost of Revenue	7,789	8,524	9,473	8,828	6,800
Gross Profit	1,048	1,219	1,186	1,070	833
Selling, General & Admin	948	949	947	924	931
Operating Expenses	948	947	947	923	930
Operating Income	100	272	239	147	-97
Interest Expense	-	-	-	-	-1
Interest & Investment Income	205	167	134	107	97
Earnings From Equity Investments	8	13	11	3	2
Other Non Operating Income (Expenses)	19	27	29	30	32
EBT Excluding Unusual Items	332	479	413	287	33
Gain (Loss) on Sale of Investments	-	-	-	-	23
Gain (Loss) on Sale of Assets	11	5	4	14	4
Asset Writedown	-	-	-	-2	-
Pretax Income	343	484	417	299	60
Income Tax Expense	99	150	135	107	19
Earnings From Continuing Operations	244	334	282	192	41
Minority Interest in Earnings	-8	-13	-12	-2	4
Net Income	236	321	270	190	45
Net Income to Common	236	321	270	190	45
Net Income Growth	-26.48%	18.89%	42.10%	322.22%	-91.05%
Shares Outstanding (Basic)	2	2	2	2	2
Shares Outstanding (Diluted)	2	2	2	2	2
Shares Change (YoY)	-2.15%	-0.01%	-0.01%	-0.01%	-3.47%
EPS (Basic)	111.88	148.91	125.24	88.13	20.87
EPS (Diluted)	111.88	148.91	125.24	88.13	20.87
EPS Growth	-24.87%	18.90%	42.12%	322.26%	-90.73%
Free Cash Flow	18	604	1,429	-1,294	-816
Free Cash Flow Per Share	8.53	280.20	662.87	-600.19	-378.45
Dividend Per Share	-	50.000	50.000	50.000	50.000
Gross Margin	11.86%	12.51%	11.13%	10.81%	10.91%
Operating Margin	1.13%	2.79%	2.24%	1.49%	-1.27%
Profit Margin	2.67%	3.29%	2.53%	1.92%	0.59%
Free Cash Flow Margin	0.20%	6.20%	13.41%	-13.07%	-10.69%
EBITDA	177	350	306	216	-25
EBITDA Margin	2.00%	3.59%	2.87%	2.18%	-0.33%
D&A For EBITDA	77	78	67	69	72
EBIT	100	272	239	147	-97
EBIT Margin	1.13%	2.79%	2.24%	1.49%	-1.27%
Effective Tax Rate	28.86%	30.99%	32.37%	35.79%	31.67%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.