TYO:3472 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
Rental Revenue	3,440	2,588	2,112	2,270	2,692
Gain (Loss) on Sale of Assets (Rev)	151	-	311	258	-
Total Revenue	3,591	2,588	2,423	2,528	2,692
Revenue Growth (YoY	38.76%	6.81%	-4.15%	-6.09%	-3.60%
Property Expenses	1,606	1,358	1,270	1,344	1,388
Selling, General & Administrative	49	33	36	39	41
Other Operating Expenses	75	69	77	85	79
Total Operating Expenses	1,730	1,460	1,383	1,468	1,508
Operating Income	1,861	1,128	1,040	1,060	1,184
Interest Expense	-454	-328	-344	-363	-290
Interest & Investment Income	3	-	-	-	-
Other Non-Operating Income	-7	-4	-6	-16	-43
EBT Excluding Unusual Items	1,403	796	690	681	851
Other Unusual Items	-13	-	-	-	-
Pretax Income	1,390	796	690	681	851
Income Tax Expense	-	-	-	1	-
Net Income	1,390	796	690	680	851
Net Income to Common	1,390	796	690	680	851
Net Income Growth	74.62%	15.36%	1.47%	-20.09%	-15.89%
Basic Shares Outstanding	0	0	0	0	0
Diluted Shares Outstanding	0	0	0	0	0
Shares Change (YoY)	31.95%	-	-	-	-
EPS (Basic)	4476.02	3382.24	2931.84	2889.35	3615.94
EPS (Diluted)	4476.02	3382.24	2931.84	2889.35	3615.94
EPS Growth	32.34%	15.36%	1.47%	-20.09%	-15.89%
Operating Margin	51.82%	43.59%	42.92%	41.93%	43.98%
Profit Margin	38.71%	30.76%	28.48%	26.90%	31.61%
EBITDA	2,777	1,989	1,874	1,942	2,086
EBITDA Margin	77.33%	76.85%	77.34%	76.82%	77.49%
D&A For Ebitda	916	861	834	882	902
EBIT	1,861	1,128	1,040	1,060	1,184
EBIT Margin	51.82%	43.59%	42.92%	41.93%	43.98%
Effective Tax Rate	-	-	-	0.15%	-

Updated Nov 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.