Uniform Next Income Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2016 - 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2016 - 2020
Revenue	8,877	8,393	7,453	6,333	5,115	4,968	Upgrade
Revenue Growth (YoY)	12.00%	12.61%	17.69%	23.81%	2.96%	5.39%	Upgrade
Cost of Revenue	5,603	5,306	4,676	3,984	3,209	3,101	Upgrade
Gross Profit	3,274	3,087	2,777	2,349	1,906	1,867	Upgrade
Selling, General & Admin	2,676	2,550	2,211	1,885	1,487	1,480	Upgrade
Other Operating Expenses	-	-	-	-	2	-	Upgrade
Operating Expenses	2,766	2,640	2,279	1,947	1,551	1,545	Upgrade
Operating Income	508	447	498	402	355	322	Upgrade
Interest Expense	-2	-2	-	-	-	-	Upgrade
Other Non Operating Income (Expenses)	10	22	15	7	-	16	Upgrade
EBT Excluding Unusual Items	516	467	513	409	355	338	Upgrade
Asset Writedown	-	-	-	-	-	-68	Upgrade
Other Unusual Items	41	-	-	-	-	70	Upgrade
Pretax Income	557	467	513	409	355	340	Upgrade
Income Tax Expense	174	142	159	133	122	117	Upgrade
Net Income	383	325	354	276	233	223	Upgrade
Net Income to Common	383	325	354	276	233	223	Upgrade
Net Income Growth	13.65%	-8.19%	28.26%	18.45%	4.48%	-7.47%	Upgrade
Shares Outstanding (Basic)	10	10	10	2	2	2	Upgrade
Shares Outstanding (Diluted)	10	10	10	3	3	2	Upgrade
Shares Change (YoY)	0.29%	-0.66%	301.27%	0.03%	0.59%	-0.01%	Upgrade
EPS (Basic)	38.07	32.49	35.44	110.56	93.53	89.73	Upgrade
EPS (Diluted)	38.07	32.49	35.16	110.00	92.89	89.43	Upgrade
EPS Growth	13.33%	-7.59%	-68.04%	18.42%	3.87%	-7.46%	Upgrade
Free Cash Flow	442	717	-628	392	240	272	Upgrade
Free Cash Flow Per Share	43.94	71.68	-62.37	156.23	95.68	109.08	Upgrade
Gross Margin	36.88%	36.78%	37.26%	37.09%	37.26%	37.58%	Upgrade
Operating Margin	5.72%	5.33%	6.68%	6.35%	6.94%	6.48%	Upgrade
Profit Margin	4.32%	3.87%	4.75%	4.36%	4.55%	4.49%	Upgrade
Free Cash Flow Margin	4.98%	8.54%	-8.43%	6.19%	4.69%	5.47%	Upgrade
EBITDA	600	547	576	472	425	394	Upgrade
EBITDA Margin	6.76%	6.52%	7.73%	7.45%	8.31%	7.93%	Upgrade
D&A For EBITDA	92	100	78	70	70	72	Upgrade
EBIT	508	447	498	402	355	322	Upgrade
EBIT Margin	5.72%	5.33%	6.68%	6.35%	6.94%	6.48%	Upgrade
Effective Tax Rate	31.24%	30.41%	30.99%	32.52%	34.37%	34.41%	Upgrade
Advertising Expenses	-	978	885	680	437	495	Upgrade

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