Tosei Reit Investment Corporation (TYO:3451)

Tosei Reit Investment Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Rental Revenue	7,420	7,239	7,003	6,739	6,372
Gain (Loss) on Sale of Assets (Rev)	-	-	-	-	96
Total Revenue	7,420	7,239	7,003	6,739	6,468
Revenue Growth (YoY	2.50%	3.37%	3.92%	4.19%	6.16%
Property Expenses	3,644	3,592	3,515	3,324	3,082
Selling, General & Administrative	50	51	48	51	46
Other Operating Expenses	169	164	153	163	154
Total Operating Expenses	3,863	3,807	3,716	3,538	3,282
Operating Income	3,557	3,432	3,287	3,201	3,186
Interest Expense	-666	-614	-589	-581	-550
Interest & Investment Income	14	-	-	-	-
Other Non-Operating Income	-11	-16	-16	-19	-20
EBT Excluding Unusual Items	2,894	2,802	2,682	2,601	2,616
Pretax Income	2,894	2,802	2,682	2,601	2,616
Income Tax Expense	1	-	-	-	37
Net Income	2,893	2,802	2,682	2,601	2,579
Net Income to Common	2,893	2,802	2,682	2,601	2,579
Net Income Growth	3.25%	4.47%	3.11%	0.85%	3.12%
Basic Shares Outstanding	0	0	0	0	0
Diluted Shares Outstanding	0	0	0	0	0
Shares Change (YoY)	0.78%	3.03%	1.14%	5.28%	0.80%
EPS (Basic)	7684.85	7500.84	7397.25	7255.45	7574.04
EPS (Diluted)	7684.85	7500.84	7397.25	7255.45	7574.04
EPS Growth	2.45%	1.40%	1.95%	-4.21%	2.30%
Operating Margin	47.94%	47.41%	46.94%	47.50%	49.26%
Profit Margin	38.99%	38.71%	38.30%	38.60%	39.87%
EBITDA	4,511	4,358	4,151	4,033	3,945
EBITDA Margin	60.80%	60.20%	59.27%	59.85%	60.99%
D&A For Ebitda	954	926	864	832	759
EBIT	3,557	3,432	3,287	3,201	3,186
EBIT Margin	47.94%	47.41%	46.94%	47.50%	49.26%
Effective Tax Rate	0.03%	-	-	-	1.41%

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