Takahashi Curtain Wall 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	7,338	9,383	7,332	7,530	12,233
Revenue Growth (YoY)	-21.80%	27.97%	-2.63%	-38.45%	66.05%
Cost of Revenue	6,238	7,869	6,078	6,498	9,395
Gross Profit	1,100	1,514	1,254	1,032	2,838
Selling, General & Admin	987	920	898	862	852
Operating Expenses	987	920	897	861	850
Operating Income	113	594	357	171	1,988
Interest Expense	-4	-5	-3	-2	-3
Interest & Investment Income	3	3	2	2	2
Other Non Operating Income (Expenses)	30	37	32	25	35
EBT Excluding Unusual Items	142	629	388	196	2,022
Gain (Loss) on Sale of Investments	-	-	-	-	31
Gain (Loss) on Sale of Assets	45	42	60	51	62
Asset Writedown	-1	-9	-1	-21	-21
Other Unusual Items	-	-1	-	-1	1
Pretax Income	186	661	447	225	2,095
Income Tax Expense	-4	289	145	74	693
Net Income	190	372	302	151	1,402
Net Income to Common	190	372	302	151	1,402
Net Income Growth	-48.93%	23.18%	100.00%	-89.23%	55.43%
Shares Outstanding (Basic)	8	8	8	9	9
Shares Outstanding (Diluted)	8	8	8	9	9
Shares Change (YoY)	-1.86%	-3.09%	-1.98%	-0.70%	-0.56%
EPS (Basic)	23.79	45.71	35.96	17.62	162.49
EPS (Diluted)	23.79	45.71	35.96	17.62	162.49
EPS Growth	-47.96%	27.10%	104.05%	-89.15%	56.31%
Free Cash Flow	2,142	-1,950	1,243	-1,196	1,631
Free Cash Flow Per Share	268.17	-239.59	148.01	-139.59	189.03
Dividend Per Share	-	20.000	20.000	20.000	25.000
Dividend Growth	-	-	-	-20.00%	8.70%
Gross Margin	14.99%	16.14%	17.10%	13.71%	23.20%
Operating Margin	1.54%	6.33%	4.87%	2.27%	16.25%
Profit Margin	2.59%	3.96%	4.12%	2.00%	11.46%
Free Cash Flow Margin	29.19%	-20.78%	16.95%	-15.88%	13.33%
EBITDA	396	898	689	458	2,250
EBITDA Margin	5.40%	9.57%	9.40%	6.08%	18.39%
D&A For EBITDA	283	304	332	287	262
EBIT	113	594	357	171	1,988
EBIT Margin	1.54%	6.33%	4.87%	2.27%	16.25%
Effective Tax Rate	-	43.72%	32.44%	32.89%	33.08%

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