Future 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	76,935	75,993	69,878	59,324	53,738	48,698
Revenue Growth (YoY)	6.59%	8.75%	17.79%	10.39%	10.35%	9.90%
Cost of Revenue	39,685	39,006	36,177	30,517	27,083	26,145
Gross Profit	37,250	36,987	33,701	28,807	26,655	22,553
Selling, General & Admin	17,243	16,977	15,756	13,335	12,958	12,547
Research & Development	1,505	1,536	1,288	1,190	980	601
Amortization of Goodwill & Intangibles	1,035	1,024	731	163	44	39
Operating Expenses	20,971	20,810	19,033	15,106	14,426	13,553
Operating Income	16,279	16,177	14,668	13,701	12,229	9,000
Interest Expense	-166	-172	-152	-	-	-
Interest & Investment Income	376	356	319	317	338	231
Earnings From Equity Investments	158	203	193	46	61	30
Currency Exchange Gain (Loss)	86	9	65	-	-30	-2
Other Non Operating Income (Expenses)	34	-64	-289	23	-22	30
EBT Excluding Unusual Items	16,767	16,509	14,804	14,087	12,576	9,289
Gain (Loss) on Sale of Investments	902	902	710	-490	692	-17
Gain (Loss) on Sale of Assets	-	-12	-	-	-3	-
Asset Writedown	-152	-140	-196	-404	-	-88
Other Unusual Items	-	-	-319	-	-	-
Pretax Income	17,517	17,259	14,999	13,193	13,265	9,184
Income Tax Expense	5,445	5,547	4,677	3,972	4,029	2,788
Earnings From Continuing Operations	12,072	11,712	10,322	9,221	9,236	6,396
Minority Interest in Earnings	-	-	-	-	-	-27
Net Income	12,072	11,712	10,322	9,221	9,236	6,369
Net Income to Common	12,072	11,712	10,322	9,221	9,236	6,369
Net Income Growth	19.17%	13.47%	11.94%	-0.16%	45.02%	67.83%
Shares Outstanding (Basic)	89	89	89	89	89	89
Shares Outstanding (Diluted)	89	89	89	89	89	89
Shares Change (YoY)	0.05%	0.05%	0.04%	0.03%	0.04%	-0.31%
EPS (Basic)	136.15	132.10	116.49	104.11	104.31	71.96
EPS (Diluted)	136.15	132.10	116.49	104.11	104.31	71.96
EPS Growth	19.11%	13.41%	11.89%	-0.19%	44.95%	68.34%
Free Cash Flow	-	7,016	10,287	7,402	10,098	9,336
Free Cash Flow Per Share	-	79.14	116.09	83.57	114.04	105.48
Dividend Per Share	46.000	46.000	42.000	40.000	37.000	25.500
Dividend Growth	9.52%	9.52%	5.00%	8.11%	45.10%	27.50%
Gross Margin	48.42%	48.67%	48.23%	48.56%	49.60%	46.31%
Operating Margin	21.16%	21.29%	20.99%	23.09%	22.76%	18.48%
Profit Margin	15.69%	15.41%	14.77%	15.54%	17.19%	13.08%
Free Cash Flow Margin	-	9.23%	14.72%	12.48%	18.79%	19.17%
EBITDA	19,948	19,596	17,432	15,011	13,474	10,146
EBITDA Margin	25.93%	25.79%	24.95%	25.30%	25.07%	20.83%
D&A For EBITDA	3,669	3,419	2,764	1,310	1,245	1,146
EBIT	16,279	16,177	14,668	13,701	12,229	9,000
EBIT Margin	21.16%	21.29%	20.99%	23.09%	22.76%	18.48%
Effective Tax Rate	31.08%	32.14%	31.18%	30.11%	30.37%	30.36%

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