System D Income Statement

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

Millions JPY. Fiscal year is Nov - Oct.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jan '26 Jan 31, 2026	Oct '25 Oct 31, 2025	Oct '24 Oct 31, 2024	Oct '23 Oct 31, 2023	Oct '22 Oct 31, 2022	Oct '21 Oct 31, 2021
Revenue	5,092	5,032	4,631	4,736	4,232	3,842
Revenue Growth (YoY)	8.04%	8.66%	-2.22%	11.91%	10.15%	-0.31%
Cost of Revenue	2,863	2,852	2,627	2,669	2,279	2,024
Gross Profit	2,229	2,180	2,004	2,067	1,953	1,818
Selling, General & Admin	1,270	1,234	1,175	1,153	1,055	1,009
Operating Expenses	1,278	1,242	1,175	1,153	1,055	1,009
Operating Income	951	938	829	914	898	809
Interest Expense	-1	-1	-1	-2	-	-
Interest & Investment Income	2	1	-	-	-	-
Other Non Operating Income (Expenses)	3	5	-	1	-	-
EBT Excluding Unusual Items	955	943	828	913	898	809
Gain (Loss) on Sale of Assets	-	-	-	-	-	1
Asset Writedown	-37	-37	-	-7	-8	-2
Legal Settlements	-	-	-	-	-	-17
Other Unusual Items	6	6	-15	-	-49	6
Pretax Income	924	912	813	906	841	797
Income Tax Expense	288	285	258	274	250	224
Net Income	636	627	555	632	591	573
Net Income to Common	636	627	555	632	591	573
Net Income Growth	8.90%	12.97%	-12.18%	6.94%	3.14%	12.35%
Shares Outstanding (Basic)	6	6	6	6	6	6
Shares Outstanding (Diluted)	6	6	6	6	6	6
Shares Change (YoY)	0.08%	0.09%	0.06%	-	-0.30%	-1.09%
EPS (Basic)	99.17	97.79	86.64	98.72	92.31	89.24
EPS (Diluted)	99.17	97.79	86.64	98.72	92.31	89.24
EPS Growth	8.81%	12.87%	-12.24%	6.94%	3.45%	13.59%
Free Cash Flow	-	1,067	1,485	702	68	843
Free Cash Flow Per Share	-	166.41	231.81	109.65	10.62	131.29
Dividend Per Share	28.000	28.000	24.000	23.000	20.000	18.000
Dividend Growth	16.67%	16.67%	4.35%	15.00%	11.11%	28.57%
Gross Margin	43.77%	43.32%	43.27%	43.64%	46.15%	47.32%
Operating Margin	18.68%	18.64%	17.90%	19.30%	21.22%	21.06%
Profit Margin	12.49%	12.46%	11.98%	13.35%	13.96%	14.91%
Free Cash Flow Margin	-	21.20%	32.07%	14.82%	1.61%	21.94%
EBITDA	1,455	1,446	1,355	1,385	1,384	1,208
EBITDA Margin	28.56%	28.74%	29.26%	29.24%	32.70%	31.44%
D&A For EBITDA	503.5	508	526	471	486	399
EBIT	951	938	829	914	898	809
EBIT Margin	18.68%	18.64%	17.90%	19.30%	21.22%	21.06%
Effective Tax Rate	31.17%	31.25%	31.73%	30.24%	29.73%	28.11%

Updated Jan 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.