DRAFT 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	7,466	12,276	10,702	8,287	8,032	7,117
Revenue Growth (YoY)	-47.75%	14.71%	29.14%	3.17%	12.86%	17.81%
Cost of Revenue	4,958	8,478	7,179	6,002	5,539	5,225
Gross Profit	2,508	3,798	3,523	2,285	2,493	1,892
Selling, General & Admin	3,207	2,776	2,652	2,177	1,543	1,088
Operating Expenses	3,207	2,776	2,652	2,177	1,538	1,093
Operating Income	-699	1,022	871	108	955	799
Interest Expense	-20	-13	-13	-12	-11	-10
Currency Exchange Gain (Loss)	-8	-9	-8	-5	-	-
Other Non Operating Income (Expenses)	16	17	-3	-5	2	-47
EBT Excluding Unusual Items	-709	1,017	847	86	946	742
Asset Writedown	-1	-	-28	-	-1	-
Other Unusual Items	-	-	-	-9	1	-
Pretax Income	-710	1,017	819	77	946	742
Income Tax Expense	-228	371	303	56	372	258
Net Income to Company	-	646	516	21	574	484
Net Income	-482	646	516	21	574	484
Net Income to Common	-482	646	516	21	574	484
Net Income Growth	-	25.19%	2357.14%	-96.34%	18.59%	62.96%
Shares Outstanding (Basic)	10	10	10	10	9	9
Shares Outstanding (Diluted)	10	10	10	10	9	9
Shares Change (YoY)	-0.46%	0.05%	-0.01%	8.16%	4.69%	17.54%
EPS (Basic)	-47.97	64.32	51.39	2.09	61.90	55.50
EPS (Diluted)	-47.97	64.09	51.23	2.09	61.67	54.49
EPS Growth	-	25.10%	2349.00%	-96.61%	13.17%	38.69%
Free Cash Flow	-	1,136	-330	-451	1,206	-674.67
Free Cash Flow Per Share	-	112.68	-32.75	-44.75	129.43	-75.80
Dividend Per Share	12.000	12.000	6.000	5.000	5.000	8.000
Dividend Growth	100.00%	100.00%	20.00%	-	-37.50%	100.00%
Gross Margin	33.59%	30.94%	32.92%	27.57%	31.04%	26.58%
Operating Margin	-9.36%	8.33%	8.14%	1.30%	11.89%	11.23%
Profit Margin	-6.46%	5.26%	4.82%	0.25%	7.15%	6.80%
Free Cash Flow Margin	-	9.25%	-3.08%	-5.44%	15.02%	-9.48%
EBITDA	-498.5	1,233	1,096	252	1,070	853.67
EBITDA Margin	-6.68%	10.04%	10.24%	3.04%	13.32%	12.00%
D&A For EBITDA	200.5	211	225	144	115	54.67
EBIT	-699	1,022	871	108	955	799
EBIT Margin	-9.36%	8.33%	8.14%	1.30%	11.89%	11.23%
Effective Tax Rate	-	36.48%	37.00%	72.73%	39.32%	34.77%
Advertising Expenses	-	583	476	430	232	-

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