Betrend 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	1,159	1,155	1,091	1,088	1,052
Revenue Growth (YoY)	0.35%	5.87%	0.28%	3.42%	22.75%
Cost of Revenue	615	543	527	523	517
Gross Profit	544	612	564	565	535
Selling, General & Admin	626	529	462	415	443
Operating Expenses	626	532	465	418	446
Operating Income	-82	80	99	147	89
Other Non Operating Income (Expenses)	1	-2	-2	-1	-1
EBT Excluding Unusual Items	-81	78	97	146	88
Asset Writedown	-	-18	-	-	-
Other Unusual Items	-	24	-	-	-
Pretax Income	-81	84	97	146	88
Income Tax Expense	20	24	31	46	28
Net Income to Company	-101	60	66	100	60
Net Income	-101	60	66	100	60
Net Income to Common	-101	60	66	100	60
Net Income Growth	-	-9.09%	-34.00%	66.67%	-21.05%
Shares Outstanding (Basic)	2	2	2	2	1
Shares Outstanding (Diluted)	2	2	2	2	1
Shares Change (YoY)	-0.39%	-1.51%	-1.07%	100.22%	9.31%
EPS (Basic)	-46.83	27.86	30.10	46.05	56.52
EPS (Diluted)	-46.83	27.71	30.02	45.00	54.06
EPS Growth	-	-7.70%	-33.29%	-16.76%	-27.77%
Free Cash Flow	-	135	43	205	81
Free Cash Flow Per Share	-	62.35	19.56	92.25	72.98
Gross Margin	46.94%	52.99%	51.70%	51.93%	50.86%
Operating Margin	-7.07%	6.93%	9.07%	13.51%	8.46%
Profit Margin	-8.71%	5.20%	6.05%	9.19%	5.70%
Free Cash Flow Margin	-	11.69%	3.94%	18.84%	7.70%
EBITDA	-38	124	150	202	151
EBITDA Margin	-3.28%	10.74%	13.75%	18.57%	14.35%
D&A For EBITDA	44	44	51	55	62
EBIT	-82	80	99	147	89
EBIT Margin	-7.07%	6.93%	9.07%	13.51%	8.46%
Effective Tax Rate	-	28.57%	31.96%	31.51%	31.82%

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