Tokaido REIT Income Statement

Financials in millions JPY. Fiscal year is August - July.

Millions JPY. Fiscal year is Aug - Jul.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022
Period Ending	Jul '25 Jul 31, 2025	Jul '24 Jul 31, 2024	Jul '23 Jul 31, 2023	Jul '22 Jul 31, 2022	Jan '22 Jan 31, 2022
Rental Revenue	4,294	3,540	2,760	2,215	1,343
Gain (Loss) on Sale of Assets (Rev)	21	-	-	-	-
Other Revenue	-	-	3	-	-
Total Revenue	4,315	3,540	2,763	2,215	1,343
Revenue Growth (YoY	21.89%	28.12%	24.74%	64.93%	-
Property Expenses	1,687	1,351	1,043	812	465
Selling, General & Administrative	63	50	42	32	17
Other Operating Expenses	103	91	77	50	42
Total Operating Expenses	1,853	1,492	1,162	894	524
Operating Income	2,462	2,048	1,601	1,321	819
Interest Expense	-443	-308	-216	-118	-252
Interest & Investment Income	1	-	-	-	-
Other Non-Operating Income	-5	-5	-5	-3	-63
EBT Excluding Unusual Items	2,015	1,735	1,380	1,200	504
Other Unusual Items	-17	-9	-3	-3	-71
Pretax Income	1,998	1,726	1,377	1,197	433
Income Tax Expense	-	-	-	1	1
Net Income	1,998	1,726	1,377	1,196	432
Net Income to Common	1,998	1,726	1,377	1,196	432
Net Income Growth	15.76%	25.35%	15.13%	176.85%	-
Basic Shares Outstanding	0	0	0	0	0
Diluted Shares Outstanding	0	0	0	0	0
Shares Change (YoY)	14.20%	24.23%	18.22%	57.63%	-
EPS (Basic)	6717.57	6626.99	6568.09	6744.37	3839.97
EPS (Diluted)	6717.57	6626.99	6568.09	6744.37	3839.97
EPS Growth	1.37%	0.90%	-2.61%	75.64%	-
Operating Margin	57.06%	57.85%	57.94%	59.64%	60.98%
Profit Margin	46.30%	48.76%	49.84%	54.00%	32.17%
EBITDA	2,931	2,435	1,889	1,495	1,048
EBITDA Margin	67.93%	68.78%	68.37%	67.49%	78.03%
D&A For Ebitda	469	387	288	174	229
EBIT	2,462	2,048	1,601	1,321	819
EBIT Margin	57.06%	57.85%	57.94%	59.64%	60.98%
Effective Tax Rate	-	-	-	0.08%	0.23%

Updated Jul 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.