Milbon 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	52,863	51,316	47,762	45,238	41,582
Revenue Growth (YoY)	3.02%	7.44%	5.58%	8.79%	16.39%
Cost of Revenue	19,687	18,718	18,237	15,729	14,083
Gross Profit	33,176	32,598	29,525	29,509	27,499
Selling, General & Admin	27,524	25,772	24,000	21,960	19,681
Operating Expenses	27,747	25,775	24,000	21,957	19,681
Operating Income	5,429	6,823	5,525	7,552	7,818
Interest & Investment Income	30.63	41	37	37	58
Earnings From Equity Investments	-29.64	-11	-110	-112	-151
Currency Exchange Gain (Loss)	-54.27	70	-6	152	54
Other Non Operating Income (Expenses)	79.56	44	139	200	-621
EBT Excluding Unusual Items	5,456	6,967	5,585	7,829	7,158
Gain (Loss) on Sale of Investments	-806.18	19	-	-	-24
Gain (Loss) on Sale of Assets	291.7	-	-	-	-
Asset Writedown	-14.75	-19	-39	-7	-
Legal Settlements	-	-	-115	-	-
Other Unusual Items	-	-	-	1	-1
Pretax Income	4,926	6,967	5,431	7,823	7,133
Income Tax Expense	1,489	1,950	1,430	2,246	2,024
Net Income	3,438	5,017	4,001	5,577	5,109
Net Income to Common	3,438	5,017	4,001	5,577	5,109
Net Income Growth	-31.47%	25.39%	-28.26%	9.16%	21.53%
Shares Outstanding (Basic)	32	33	33	33	33
Shares Outstanding (Diluted)	32	33	33	33	33
Shares Change (YoY)	-0.62%	0.06%	0.04%	0.04%	-0.06%
EPS (Basic)	106.26	154.10	122.97	171.49	157.16
EPS (Diluted)	106.26	154.10	122.97	171.49	157.16
EPS Growth	-31.05%	25.32%	-28.29%	9.12%	21.60%
Free Cash Flow	2,436	5,431	2,167	1,947	2,808
Free Cash Flow Per Share	75.28	166.82	66.60	59.87	86.38
Dividend Per Share	88.000	88.000	88.000	86.000	68.000
Dividend Growth	-	-	2.33%	26.47%	21.43%
Gross Margin	62.76%	63.52%	61.82%	65.23%	66.13%
Operating Margin	10.27%	13.30%	11.57%	16.69%	18.80%
Profit Margin	6.50%	9.78%	8.38%	12.33%	12.29%
Free Cash Flow Margin	4.61%	10.58%	4.54%	4.30%	6.75%
EBITDA	7,747	9,112	7,800	9,632	9,595
EBITDA Margin	14.65%	17.76%	16.33%	21.29%	23.08%
D&A For EBITDA	2,317	2,289	2,275	2,080	1,777
EBIT	5,429	6,823	5,525	7,552	7,818
EBIT Margin	10.27%	13.30%	11.57%	16.69%	18.80%
Effective Tax Rate	30.22%	27.99%	26.33%	28.71%	28.38%
Advertising Expenses	-	1,461	1,516	1,177	1,105

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