ValueCommerce 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	24,169	30,410	29,396	35,708	33,560
Revenue Growth (YoY)	-20.52%	3.45%	-17.68%	6.40%	15.05%
Cost of Revenue	16,820	20,427	19,247	22,881	20,681
Gross Profit	7,349	9,983	10,149	12,827	12,879
Selling, General & Admin	5,377	5,823	4,919	4,577	4,973
Operating Expenses	5,515	5,821	4,918	4,577	4,973
Operating Income	1,834	4,162	5,231	8,250	7,906
Interest & Investment Income	-	13	-	66	30
Earnings From Equity Investments	-365	-	-	-	-
Currency Exchange Gain (Loss)	-	-	-	-	-1
Other Non Operating Income (Expenses)	9	-55	-15	3	11
EBT Excluding Unusual Items	1,478	4,120	5,216	8,319	7,946
Gain (Loss) on Sale of Investments	-88	-7	-31	-	-
Asset Writedown	-1,274	-	-144	-	-2,406
Other Unusual Items	1,025	-	-1	-	-91
Pretax Income	1,141	4,113	5,040	8,319	5,449
Income Tax Expense	654	1,258	1,640	2,513	2,189
Net Income	487	2,855	3,400	5,806	3,260
Net Income to Common	487	2,855	3,400	5,806	3,260
Net Income Growth	-82.94%	-16.03%	-41.44%	78.10%	-23.62%
Shares Outstanding (Basic)	22	25	32	32	32
Shares Outstanding (Diluted)	22	25	32	32	32
Shares Change (YoY)	-14.07%	-22.02%	-0.01%	0.03%	0.01%
EPS (Basic)	22.47	113.20	105.14	179.59	100.89
EPS (Diluted)	22.47	113.20	105.14	179.52	100.84
EPS Growth	-80.15%	7.67%	-41.43%	78.03%	-23.61%
Free Cash Flow	1,869	3,371	3,464	6,746	5,261
Free Cash Flow Per Share	86.24	133.66	107.11	208.57	162.70
Dividend Per Share	49.000	57.000	53.000	56.000	43.000
Dividend Growth	-14.04%	7.55%	-5.36%	30.23%	4.88%
Gross Margin	30.41%	32.83%	34.52%	35.92%	38.38%
Operating Margin	7.59%	13.69%	17.79%	23.10%	23.56%
Profit Margin	2.02%	9.39%	11.57%	16.26%	9.71%
Free Cash Flow Margin	7.73%	11.09%	11.78%	18.89%	15.68%
EBITDA	2,225	4,595	5,704	8,717	8,699
EBITDA Margin	9.21%	15.11%	19.40%	24.41%	25.92%
D&A For EBITDA	391	433	473	467	793
EBIT	1,834	4,162	5,231	8,250	7,906
EBIT Margin	7.59%	13.69%	17.79%	23.10%	23.56%
Effective Tax Rate	57.32%	30.59%	32.54%	30.21%	40.17%

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