MUSCAT GROUP Income Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023
Revenue	4,129	2,986	2,374	1,833
Revenue Growth (YoY)	38.28%	25.78%	29.51%	-
Cost of Revenue	1,916	1,376	1,088	821
Gross Profit	2,213	1,610	1,286	1,012
Selling, General & Admin	2,612	1,469	1,160	1,178
Amortization of Goodwill & Intangibles	-	53	38	-
Operating Expenses	2,612	1,522	1,198	1,178
Operating Income	-399	88	88	-166
Interest Expense	-56	-21	-4	-2
Interest & Investment Income	6	3	-	-
Currency Exchange Gain (Loss)	-	-	-	-1
Other Non Operating Income (Expenses)	-2	23	5	3
EBT Excluding Unusual Items	-451	93	89	-166
Gain (Loss) on Sale of Investments	710	1	-	-
Gain (Loss) on Sale of Assets	14	-	-	-
Asset Writedown	-304	-1	-	-2
Other Unusual Items	-56	21	-	-
Pretax Income	-87	114	89	-168
Income Tax Expense	307	2	-20	-47
Earnings From Continuing Operations	-394	112	109	-121
Minority Interest in Earnings	26	-	-	-
Net Income	-368	112	109	-121
Net Income to Common	-368	112	109	-121
Net Income Growth	-	2.75%	-	-
Shares Outstanding (Basic)	3	3	3	3
Shares Outstanding (Diluted)	3	3	3	3
Shares Change (YoY)	-0.17%	10.98%	1.69%	-
EPS (Basic)	-121.26	38.36	39.79	-44.92
EPS (Diluted)	-121.26	37.15	39.79	-44.92
EPS Growth	-	-6.64%	-	-
Free Cash Flow	-682	-435	87	-
Free Cash Flow Per Share	-224.72	-143.09	31.76	-
Gross Margin	53.60%	53.92%	54.17%	55.21%
Operating Margin	-9.66%	2.95%	3.71%	-9.06%
Profit Margin	-8.91%	3.75%	4.59%	-6.60%
Free Cash Flow Margin	-16.52%	-14.57%	3.67%	-
EBITDA	-180	171	143	-
EBITDA Margin	-4.36%	5.73%	6.02%	-
D&A For EBITDA	219	83	55	-
EBIT	-399	88	88	-166
EBIT Margin	-9.66%	2.95%	3.71%	-9.06%
Effective Tax Rate	-	1.75%	-	-
Advertising Expenses	-	178	124	-

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