Kaizen Platform Income Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	4,394	4,523	4,343	2,667	2,260	1,686
Revenue Growth (YoY)	-3.22%	4.15%	62.84%	18.01%	34.04%	24.52%
Cost of Revenue	2,977	3,151	3,008	1,713	1,326	864
Gross Profit	1,417	1,372	1,335	954	934	822
Selling, General & Admin	1,321	1,374	1,359	1,057	888	798
Operating Expenses	1,348	1,401	1,360	1,057	888	798
Operating Income	69	-29	-25	-103	46	24
Interest Expense	-12	-8	-13	-10	-6	-1
Interest & Investment Income	32	34	30	-	-	-
Earnings From Equity Investments	-	-	-	-5	-14	-5
Currency Exchange Gain (Loss)	7	7	1	-	-41	40
Other Non Operating Income (Expenses)	7	2	19	-10	-13	-22
EBT Excluding Unusual Items	103	6	12	-128	-28	36
Gain (Loss) on Sale of Investments	-	-	-	-	2	-
Gain (Loss) on Sale of Assets	-	2	-	-	-	-
Asset Writedown	-122	-122	-	-89	-	-5
Pretax Income	-19	-114	12	-217	-26	31
Income Tax Expense	44	47	17	61	70	-76
Earnings From Continuing Operations	-63	-161	-5	-278	-96	107
Minority Interest in Earnings	-2	-10	-16	-7	-5	-
Net Income	-65	-171	-21	-285	-101	107
Net Income to Common	-65	-171	-21	-285	-101	107
Shares Outstanding (Basic)	17	17	17	17	16	8
Shares Outstanding (Diluted)	17	17	17	17	16	10
Shares Change (YoY)	0.48%	0.52%	1.45%	4.61%	66.84%	56.44%
EPS (Basic)	-3.83	-10.11	-1.25	-17.18	-6.37	13.79
EPS (Diluted)	-3.83	-10.11	-1.25	-17.18	-6.37	11.30
Free Cash Flow	-	200	69	118	15	117
Free Cash Flow Per Share	-	11.82	4.10	7.11	0.95	12.31
Gross Margin	32.25%	30.33%	30.74%	35.77%	41.33%	48.75%
Operating Margin	1.57%	-0.64%	-0.58%	-3.86%	2.04%	1.42%
Profit Margin	-1.48%	-3.78%	-0.48%	-10.69%	-4.47%	6.35%
Free Cash Flow Margin	-	4.42%	1.59%	4.42%	0.66%	6.94%
EBITDA	257.25	187	228	153	221	119
EBITDA Margin	5.85%	4.13%	5.25%	5.74%	9.78%	7.06%
D&A For EBITDA	188.25	216	253	256	175	95
EBIT	69	-29	-25	-103	46	24
EBIT Margin	1.57%	-0.64%	-0.58%	-3.86%	2.04%	1.42%
Effective Tax Rate	-	-	141.67%	-	-	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.