Kao Corporation Income Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	1,712,000	1,688,633	1,628,448	1,532,579	1,551,059	1,418,768
Revenue Growth (YoY)	3.60%	3.70%	6.25%	-1.19%	9.32%	2.66%
Cost of Revenue	1,033,111	1,020,464	990,044	972,152	1,002,717	845,574
Gross Profit	678,889	668,169	638,404	560,427	548,342	573,194
Selling, General & Admin	514,492	505,831	498,904	376,376	353,805	341,864
Research & Development	-	-	-	62,575	60,601	58,993
Other Operating Expenses	-17,407	-5,462	-6,365	-6,553	-6,297	-6,594
Operating Expenses	497,085	500,369	492,539	460,217	434,613	420,451
Operating Income	181,804	167,800	145,865	100,210	113,729	152,743
Interest Expense	-3,244	-2,714	-2,729	-3,385	-2,354	-2,487
Interest & Investment Income	3,784	3,508	4,677	3,621	2,227	1,358
Earnings From Equity Investments	3,552	3,406	3,482	2,387	2,545	2,620
Currency Exchange Gain (Loss)	2,023	2,023	-427	1,032	3,278	4,991
Other Non Operating Income (Expenses)	252	252	141	152	81	10
EBT Excluding Unusual Items	188,171	174,275	151,009	104,017	119,506	159,235
Merger & Restructuring Charges	-7	-7	-3,359	-13,576	-	-
Gain (Loss) on Sale of Investments	510	-	-	-	-	-
Gain (Loss) on Sale of Assets	-4,121	-4,121	6,802	-4,896	-3,624	-4,680
Asset Writedown	-301	-301	-1,813	-21,703	-34	-4,553
Other Unusual Items	-	-	-1,615	-	-	-
Pretax Income	184,252	169,846	151,024	63,842	115,848	150,002
Income Tax Expense	55,359	49,260	40,650	17,685	28,106	38,587
Earnings From Continuing Operations	128,893	120,586	110,374	46,157	87,742	111,415
Minority Interest in Earnings	-663	-505	-2,607	-2,287	-1,704	-1,779
Net Income	128,230	120,081	107,767	43,870	86,038	109,636
Net Income to Common	128,230	120,081	107,767	43,870	86,038	109,636
Net Income Growth	12.34%	11.43%	145.65%	-49.01%	-21.52%	-13.08%
Shares Outstanding (Basic)	458	461	465	465	469	475
Shares Outstanding (Diluted)	458	461	465	465	469	476
Shares Change (YoY)	-1.35%	-0.71%	-0.05%	-0.98%	-1.27%	-1.14%
EPS (Basic)	279.81	260.30	231.94	94.37	183.28	230.59
EPS (Diluted)	279.81	260.30	231.94	94.37	183.27	230.57
EPS Growth	13.87%	12.23%	145.78%	-48.51%	-20.51%	-12.08%
Free Cash Flow	139,288	138,466	144,181	148,315	65,385	115,573
Free Cash Flow Per Share	303.94	300.15	310.32	319.06	139.28	243.06
Dividend Per Share	154.000	154.000	152.000	150.000	148.000	144.000
Dividend Growth	1.32%	1.32%	1.33%	1.35%	2.78%	2.86%
Gross Margin	39.66%	39.57%	39.20%	36.57%	35.35%	40.40%
Operating Margin	10.62%	9.94%	8.96%	6.54%	7.33%	10.77%
Profit Margin	7.49%	7.11%	6.62%	2.86%	5.55%	7.73%
Free Cash Flow Margin	8.14%	8.20%	8.85%	9.68%	4.22%	8.15%
EBITDA	239,824	224,998	205,516	189,805	203,467	240,084
EBITDA Margin	14.01%	13.32%	12.62%	12.38%	13.12%	16.92%
D&A For EBITDA	58,020	57,198	59,651	89,595	89,738	87,341
EBIT	181,804	167,800	145,865	100,210	113,729	152,743
EBIT Margin	10.62%	9.94%	8.96%	6.54%	7.33%	10.77%
Effective Tax Rate	30.04%	29.00%	26.92%	27.70%	24.26%	25.72%
Advertising Expenses	-	151,251	142,597	127,115	121,704	121,951

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