Lacto Japan Income Statement

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

Millions JPY. Fiscal year is Dec - Nov.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	Nov '24 Nov 30, 2024	Nov '23 Nov 30, 2023	Nov '22 Nov 30, 2022	Nov '21 Nov 30, 2021
Revenue	182,816	170,907	158,328	147,423	110,883
Revenue Growth (YoY)	6.97%	7.95%	7.40%	32.95%	0.04%
Cost of Revenue	170,527	160,836	150,419	139,962	104,243
Gross Profit	12,289	10,071	7,909	7,461	6,640
Selling, General & Admin	6,341	5,596	4,733	4,487	3,835
Operating Expenses	6,341	5,616	4,724	4,490	3,853
Operating Income	5,948	4,455	3,185	2,971	2,787
Interest Expense	-492	-305	-234	-182	-134
Interest & Investment Income	116	110	63	22	17
Earnings From Equity Investments	15	27	25	9	15
Currency Exchange Gain (Loss)	-210	251	6	445	80
Other Non Operating Income (Expenses)	419	-218	-198	-132	-84
EBT Excluding Unusual Items	5,796	4,320	2,847	3,133	2,681
Pretax Income	5,796	4,320	2,847	3,133	2,681
Income Tax Expense	1,479	1,174	799	847	722
Net Income	4,317	3,146	2,048	2,286	1,959
Net Income to Common	4,317	3,146	2,048	2,286	1,959
Net Income Growth	37.22%	53.61%	-10.41%	16.69%	-5.00%
Shares Outstanding (Basic)	10	10	10	10	10
Shares Outstanding (Diluted)	10	10	10	10	10
Shares Change (YoY)	-0.07%	-0.19%	0.26%	-0.06%	-0.23%
EPS (Basic)	433.16	315.78	206.40	231.56	198.72
EPS (Diluted)	431.94	314.59	204.44	228.80	195.90
EPS Growth	37.30%	53.88%	-10.65%	16.79%	-4.78%
Free Cash Flow	-1,336	79	2,110	-10,559	-4,199
Free Cash Flow Per Share	-133.67	7.90	210.57	-1056.47	-419.87
Dividend Per Share	132.000	80.000	48.000	40.000	32.000
Dividend Growth	65.00%	66.67%	20.00%	25.00%	6.67%
Gross Margin	6.72%	5.89%	5.00%	5.06%	5.99%
Operating Margin	3.25%	2.61%	2.01%	2.02%	2.51%
Profit Margin	2.36%	1.84%	1.29%	1.55%	1.77%
Free Cash Flow Margin	-0.73%	0.05%	1.33%	-7.16%	-3.79%
EBITDA	6,446	4,884	3,548	3,295	3,083
EBITDA Margin	3.53%	2.86%	2.24%	2.23%	2.78%
D&A For EBITDA	498	429	363	324	296
EBIT	5,948	4,455	3,185	2,971	2,787
EBIT Margin	3.25%	2.61%	2.01%	2.02%	2.51%
Effective Tax Rate	25.52%	27.18%	28.07%	27.03%	26.93%

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