Papyless Income Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Revenue	14,771	15,768	17,175	18,626	20,700	25,392
Revenue Growth (YoY)	-8.40%	-8.19%	-7.79%	-10.02%	-18.48%	8.76%
Cost of Revenue	7,851	8,210	8,917	9,869	10,615	11,553
Gross Profit	6,920	7,558	8,258	8,757	10,085	13,839
Selling, General & Admin	6,857	7,859	7,995	8,323	9,119	11,600
Operating Expenses	6,865	7,867	8,073	8,331	9,128	11,611
Operating Income	55	-309	185	426	957	2,228
Interest & Investment Income	71	72	46	18	17	12
Currency Exchange Gain (Loss)	32	-46	317	94	226	51
Other Non Operating Income (Expenses)	-	1	-5	-1	6	-5
EBT Excluding Unusual Items	158	-282	543	537	1,206	2,286
Pretax Income	158	-282	543	537	1,206	2,286
Income Tax Expense	102	-60	354	-120	455	744
Earnings From Continuing Operations	56	-222	189	657	751	1,542
Minority Interest in Earnings	90	58	28	-	-	-
Net Income	146	-164	217	657	751	1,542
Net Income to Common	146	-164	217	657	751	1,542
Net Income Growth	-	-	-66.97%	-12.52%	-51.30%	59.46%
Shares Outstanding (Basic)	9	10	10	9	10	10
Shares Outstanding (Diluted)	9	10	10	9	10	10
Shares Change (YoY)	-10.84%	-2.39%	8.05%	-4.66%	-2.69%	-0.60%
EPS (Basic)	16.60	-16.90	21.87	71.65	78.15	156.34
EPS (Diluted)	16.60	-16.90	21.87	71.49	77.84	155.56
EPS Growth	-	-	-69.40%	-8.16%	-49.96%	60.40%
Free Cash Flow	-	-576	687	-614	-101	2,430
Free Cash Flow Per Share	-	-59.36	69.10	-66.73	-10.46	245.01
Dividend Per Share	10.000	10.000	10.000	10.000	10.000	10.000
Gross Margin	46.85%	47.93%	48.08%	47.02%	48.72%	54.50%
Operating Margin	0.37%	-1.96%	1.08%	2.29%	4.62%	8.77%
Profit Margin	0.99%	-1.04%	1.26%	3.53%	3.63%	6.07%
Free Cash Flow Margin	-	-3.65%	4.00%	-3.30%	-0.49%	9.57%
EBITDA	64.75	-300	193	434	966	2,237
EBITDA Margin	0.44%	-1.90%	1.12%	2.33%	4.67%	8.81%
D&A For EBITDA	9.75	9	8	8	9	9
EBIT	55	-309	185	426	957	2,228
EBIT Margin	0.37%	-1.96%	1.08%	2.29%	4.62%	8.77%
Effective Tax Rate	64.56%	-	65.19%	-	37.73%	32.55%
Advertising Expenses	-	5,203	5,273	5,424	6,079	8,440

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.