Double Standard 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	7,221	8,000	7,147	6,911	7,077	4,411
Revenue Growth (YoY)	-7.00%	11.94%	3.42%	-2.35%	60.44%	20.29%
Cost of Revenue	4,034	4,125	3,828	3,950	4,528	2,670
Gross Profit	3,187	3,875	3,319	2,961	2,549	1,741
Selling, General & Admin	1,216	1,236	977	832	791	632
Amortization of Goodwill & Intangibles	33	33	33	8	-	-
Operating Expenses	1,249	1,269	1,010	840	791	632
Operating Income	1,938	2,606	2,309	2,121	1,758	1,109
Interest & Investment Income	6.54	2	-	-	-	-
Earnings From Equity Investments	-	-	-	-31	5	14
Other Non Operating Income (Expenses)	0.28	-1	-14	20	-14	-11
EBT Excluding Unusual Items	1,945	2,607	2,295	2,110	1,749	1,112
Gain (Loss) on Sale of Investments	-	10	133	207	-112	-27
Asset Writedown	-19.32	-4	-	-3	-25	-
Other Unusual Items	-	-	-	-	-31	-
Pretax Income	1,925	2,613	2,428	2,314	1,581	1,085
Income Tax Expense	616.03	829	753	663	499	338
Earnings From Continuing Operations	1,309	1,784	1,675	1,651	1,082	747
Minority Interest in Earnings	0.64	-2	-21	-26	-	-
Net Income	1,310	1,782	1,654	1,625	1,082	747
Net Income to Common	1,310	1,782	1,654	1,625	1,082	747
Net Income Growth	-29.65%	7.74%	1.79%	50.19%	44.85%	0.27%
Shares Outstanding (Basic)	14	14	14	14	14	14
Shares Outstanding (Diluted)	14	14	14	14	14	14
Shares Change (YoY)	-0.00%	-0.32%	-0.15%	-0.00%	-0.00%	-0.00%
EPS (Basic)	96.92	131.85	121.98	119.67	79.68	55.01
EPS (Diluted)	96.92	131.85	121.98	119.67	79.68	55.01
EPS Growth	-29.65%	8.08%	1.93%	50.19%	44.85%	0.18%
Free Cash Flow	-	1,759	1,084	1,424	1,080	841
Free Cash Flow Per Share	-	130.14	79.95	104.87	79.53	61.93
Dividend Per Share	60.000	60.000	55.000	50.000	35.000	27.500
Dividend Growth	9.09%	9.09%	10.00%	42.86%	27.27%	37.50%
Gross Margin	-	48.44%	46.44%	42.84%	36.02%	39.47%
Operating Margin	26.84%	32.57%	32.31%	30.69%	24.84%	25.14%
Profit Margin	18.14%	22.27%	23.14%	23.51%	15.29%	16.93%
Free Cash Flow Margin	-	21.99%	15.17%	20.61%	15.26%	19.07%
EBITDA	2,033	2,689	2,376	2,161	1,784	1,133
EBITDA Margin	-	33.61%	33.25%	31.27%	25.21%	25.69%
D&A For EBITDA	95	83	67	40	26	24
EBIT	1,938	2,606	2,309	2,121	1,758	1,109
EBIT Margin	-	32.57%	32.31%	30.69%	24.84%	25.14%
Effective Tax Rate	-	31.73%	31.01%	28.65%	31.56%	31.15%

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