Tokaido REIT Income Statement

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

Millions JPY. Fiscal year is Feb - Jan.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jan '25 Jan 31, 2025	Jul '24 Jul 31, 2024	Jul '23 Jul 31, 2023	Jul '22 Jul 31, 2022
Rental Revenue	4,018	3,800	3,232	2,215
Total Revenue	4,018	3,800	3,232	2,215
Revenue Growth (YoY	5.74%	17.57%	45.91%	-
Property Expenses	1,668	1,464	1,174	812
Selling, General & Administrative	66	52	40	32
Other Operating Expenses	98	86	86	50
Total Operating Expenses	1,832	1,602	1,300	894
Operating Income	2,186	2,198	1,932	1,321
Interest Expense	-314	-354	-300	-118
Other Non-Operating Income	-4	-4	-6	-3
EBT Excluding Unusual Items	1,868	1,840	1,626	1,200
Other Unusual Items	-12	-12	-6	-3
Pretax Income	1,856	1,828	1,620	1,197
Income Tax Expense	-	-	-	1
Net Income	1,856	1,828	1,620	1,196
Net Income to Common	1,856	1,828	1,620	1,196
Net Income Growth	1.53%	12.84%	35.45%	-
Basic Shares Outstanding	0	0	0	0
Diluted Shares Outstanding	0	0	0	0
Shares Change (YoY)	-	14.80%	36.75%	-
EPS (Basic)	6666.67	6566.09	6680.41	6744.37
EPS (Diluted)	6666.67	6566.09	6680.41	6744.37
EPS Growth	1.53%	-1.71%	-0.95%	-
Operating Margin	54.41%	57.84%	59.78%	59.64%
Profit Margin	46.19%	48.10%	50.12%	54.00%
EBITDA	2,620	2,620	2,264	1,495
EBITDA Margin	65.21%	68.95%	70.05%	67.49%
D&A For Ebitda	434	422	332	174
EBIT	2,186	2,198	1,932	1,321
EBIT Margin	54.41%	57.84%	59.78%	59.64%
Effective Tax Rate	-	-	-	0.08%

Updated Mar 18, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.