Uniform Next 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	9,856	8,393	7,453	6,333	5,115
Revenue Growth (YoY)	17.43%	12.61%	17.69%	23.81%	2.96%
Cost of Revenue	6,223	5,306	4,676	3,984	3,209
Gross Profit	3,633	3,087	2,777	2,349	1,906
Selling, General & Admin	2,879	2,550	2,211	1,885	1,487
Other Operating Expenses	-	-	-	-	2
Operating Expenses	2,879	2,640	2,279	1,947	1,551
Operating Income	754	447	498	402	355
Interest Expense	-2	-2	-	-	-
Other Non Operating Income (Expenses)	8	22	15	7	-
EBT Excluding Unusual Items	760	467	513	409	355
Asset Writedown	-179	-	-	-	-
Other Unusual Items	188	-	-	-	-
Pretax Income	769	467	513	409	355
Income Tax Expense	252	142	159	133	122
Net Income	517	325	354	276	233
Net Income to Common	517	325	354	276	233
Net Income Growth	59.08%	-8.19%	28.26%	18.45%	4.48%
Shares Outstanding (Basic)	10	10	10	2	2
Shares Outstanding (Diluted)	10	10	10	3	3
Shares Change (YoY)	1.06%	-0.66%	301.27%	0.03%	0.59%
EPS (Basic)	51.14	32.49	35.44	110.56	93.53
EPS (Diluted)	51.14	32.49	35.16	110.00	92.89
EPS Growth	57.40%	-7.59%	-68.04%	18.42%	3.87%
Free Cash Flow	-175	717	-628	392	240
Free Cash Flow Per Share	-17.31	71.68	-62.37	156.23	95.68
Gross Margin	36.86%	36.78%	37.26%	37.09%	37.26%
Operating Margin	7.65%	5.33%	6.68%	6.35%	6.94%
Profit Margin	5.25%	3.87%	4.75%	4.36%	4.55%
Free Cash Flow Margin	-1.78%	8.54%	-8.43%	6.19%	4.69%
EBITDA	829	547	576	472	425
EBITDA Margin	8.41%	6.52%	7.73%	7.45%	8.31%
D&A For EBITDA	75	100	78	70	70
EBIT	754	447	498	402	355
EBIT Margin	7.65%	5.33%	6.68%	6.35%	6.94%
Effective Tax Rate	32.77%	30.41%	30.99%	32.52%	34.37%
Advertising Expenses	-	978	885	680	437

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