Thirty-Four 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	5,378	10,424	7,348	4,896	3,918
Revenue Growth (YoY)	-48.41%	41.86%	50.08%	24.97%	-34.87%
Cost of Revenue	4,862	9,338	6,158	3,926	3,075
Gross Profit	516	1,086	1,190	970	842.59
Selling, General & Admin	1,082	1,227	1,103	985	-
Other Operating Expenses	-	-	-	-	487.82
Operating Expenses	1,082	1,227	1,103	985	606.37
Operating Income	-566	-141	87	-15	236.22
Interest Expense	-124	-144	-160	-100	-76.34
Interest & Investment Income	1	-	-	-	-
Other Non Operating Income (Expenses)	102	39	129	161	34.54
EBT Excluding Unusual Items	-587	-246	56	46	194.42
Gain (Loss) on Sale of Investments	-	22	-	-	-
Gain (Loss) on Sale of Assets	-	369	-	-	-
Asset Writedown	-	-21	-	-	-
Other Unusual Items	-	-1	-	11	-
Pretax Income	-587	123	56	57	194.42
Income Tax Expense	33	65	72	43	69.88
Net Income to Company	-620	58	-16	14	-
Net Income	-620	58	-16	14	124.54
Net Income to Common	-620	58	-16	14	124.54
Net Income Growth	-	-	-	-88.76%	111.93%
Shares Outstanding (Basic)	1	1	1	1	-
Shares Outstanding (Diluted)	1	1	1	1	-
Shares Change (YoY)	-0.03%	-	-	-	-
EPS (Basic)	-821.25	76.80	-21.19	18.54	-
EPS (Diluted)	-821.25	76.80	-21.19	18.54	-
Free Cash Flow	-752	1,779	-	-	-
Free Cash Flow Per Share	-996.09	2355.67	-	-	-
Gross Margin	9.59%	10.42%	16.20%	19.81%	21.51%
Operating Margin	-10.52%	-1.35%	1.18%	-0.31%	6.03%
Profit Margin	-11.53%	0.56%	-0.22%	0.29%	3.18%
Free Cash Flow Margin	-13.98%	17.07%	-	-	-
EBITDA	-522	-72	-	-	354.77
EBITDA Margin	-9.71%	-0.69%	-	-	9.05%
D&A For EBITDA	44	69	-	-	-
EBIT	-566	-141	87	-15	236.22
EBIT Margin	-10.52%	-1.35%	1.18%	-0.31%	6.03%
Effective Tax Rate	-	52.85%	128.57%	75.44%	-

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