CRI Middleware Income Statement

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

Millions JPY. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Revenue	3,448	3,167	2,990	2,840	2,892
Revenue Growth (YoY)	8.87%	5.92%	5.28%	-1.80%	23.12%
Cost of Revenue	1,375	1,450	1,259	1,493	1,430
Gross Profit	2,073	1,717	1,731	1,347	1,462
Selling, General & Admin	1,332	1,203	1,198	1,154	1,105
Research & Development	187	159	189	76	73
Operating Expenses	1,519	1,348	1,387	1,250	1,178
Operating Income	554	369	344	97	284
Interest Expense	-	-	-	-	-5
Interest & Investment Income	12	9	13	9	9
Currency Exchange Gain (Loss)	-4	-1	-5	24	-
Other Non Operating Income (Expenses)	3	7	26	8	45
EBT Excluding Unusual Items	565	384	378	138	333
Gain (Loss) on Sale of Investments	-	-	-80	-215	-
Gain (Loss) on Sale of Assets	-	-1	-	-	-
Asset Writedown	-	-	-	-217	-43
Other Unusual Items	-	-	-	-21	-1
Pretax Income	565	383	298	-315	289
Income Tax Expense	137	85	67	21	82
Earnings From Continuing Operations	428	298	231	-336	207
Minority Interest in Earnings	-8	6	1	-3	-8
Net Income	420	304	232	-339	199
Net Income to Common	420	304	232	-339	199
Net Income Growth	38.16%	31.03%	-	-	-46.65%
Shares Outstanding (Basic)	5	5	5	5	5
Shares Outstanding (Diluted)	5	5	5	5	5
Shares Change (YoY)	0.01%	-1.66%	-2.64%	-0.08%	-5.21%
EPS (Basic)	80.38	58.18	43.67	-62.12	36.59
EPS (Diluted)	80.38	58.18	43.67	-62.12	36.56
EPS Growth	38.14%	33.24%	-	-	-43.63%
Free Cash Flow	831	293	483	-65	500
Free Cash Flow Per Share	159.03	56.08	90.91	-11.91	91.56
Dividend Per Share	25.000	20.000	15.000	-	-
Dividend Growth	25.00%	33.33%	-	-	-
Gross Margin	60.12%	54.22%	57.89%	47.43%	50.55%
Operating Margin	16.07%	11.65%	11.51%	3.42%	9.82%
Profit Margin	12.18%	9.60%	7.76%	-11.94%	6.88%
Free Cash Flow Margin	24.10%	9.25%	16.15%	-2.29%	17.29%
EBITDA	682	522	469	234	411
EBITDA Margin	19.78%	16.48%	15.69%	8.24%	14.21%
D&A For EBITDA	128	153	125	137	127
EBIT	554	369	344	97	284
EBIT Margin	16.07%	11.65%	11.51%	3.42%	9.82%
Effective Tax Rate	24.25%	22.19%	22.48%	-	28.37%

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