Link and Motivation Inc. (TYO:2170)

Link and Motivation Income Statement

Financials in millions JPY. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	41,522	37,458	33,969	32,776	32,644
Revenue Growth (YoY)	10.85%	10.27%	3.64%	0.40%	-7.47%
Cost of Revenue	18,917	17,574	16,264	16,708	17,304
Gross Profit	22,605	19,884	17,705	16,068	15,340
Selling, General & Admin	16,925	14,196	13,129	12,780	12,625
Other Operating Expenses	1,476	76	-305	-697	-80
Operating Expenses	18,401	14,272	12,824	12,083	12,545
Operating Income	4,204	5,612	4,881	3,985	2,795
Interest Expense	-149	-91	-72	-145	-173
Interest & Investment Income	20	12	16	19	12
Earnings From Equity Investments	147	15	-	-	-
Other Non Operating Income (Expenses)	-1	-2	-3	11	22
EBT Excluding Unusual Items	4,221	5,546	4,822	3,870	2,656
Gain (Loss) on Sale of Investments	-	118	-26	-20	-
Gain (Loss) on Sale of Assets	-	-	-	-	-22
Asset Writedown	-	-245	-230	-351	-732
Pretax Income	4,221	5,419	4,566	3,499	1,902
Income Tax Expense	2,202	1,366	1,430	1,310	801
Earnings From Continuing Operations	2,019	4,053	3,136	2,189	1,101
Earnings From Discontinued Operations	-	-	-	-84	-82
Net Income to Company	2,019	4,053	3,136	2,105	1,019
Minority Interest in Earnings	-398	-362	-294	-164	-101
Net Income	1,621	3,691	2,842	1,941	918
Net Income to Common	1,621	3,691	2,842	1,941	918
Net Income Growth	-56.08%	29.87%	46.42%	111.44%	-
Shares Outstanding (Basic)	108	107	111	112	105
Shares Outstanding (Diluted)	108	107	111	112	105
Shares Change (YoY)	0.90%	-3.64%	-0.11%	6.00%	0.31%
EPS (Basic)	14.96	34.37	25.50	17.40	8.72
EPS (Diluted)	14.94	34.37	25.48	17.38	8.72
EPS Growth	-56.52%	34.91%	46.58%	99.27%	-
Free Cash Flow	5,159	5,465	4,219	3,415	3,986
Free Cash Flow Per Share	47.62	50.89	37.86	30.61	37.87
Dividend Per Share	16.000	12.200	11.300	7.700	7.400
Dividend Growth	31.15%	7.96%	46.75%	4.05%	2.78%
Gross Margin	54.44%	53.08%	52.12%	49.02%	46.99%
Operating Margin	10.13%	14.98%	14.37%	12.16%	8.56%
Profit Margin	3.90%	9.85%	8.37%	5.92%	2.81%
Free Cash Flow Margin	12.43%	14.59%	12.42%	10.42%	12.21%
EBITDA	6,022	7,326	6,569	5,709	5,665
EBITDA Margin	14.50%	19.56%	19.34%	17.42%	17.35%
D&A For EBITDA	1,818	1,714	1,688	1,724	2,870
EBIT	4,204	5,612	4,881	3,985	2,795
EBIT Margin	10.13%	14.98%	14.37%	12.16%	8.56%
Effective Tax Rate	52.17%	25.21%	31.32%	37.44%	42.11%
Advertising Expenses	-	1,674	1,560	1,341	1,175

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