note inc. Income Statement

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

Millions JPY. Fiscal year is Dec - Nov.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov '25 Nov 30, 2025	Nov '24 Nov 30, 2024	Nov '23 Nov 30, 2023	Nov '22 Nov 30, 2022
Revenue	4,141	3,312	2,777	2,317
Revenue Growth (YoY)	25.03%	19.26%	19.85%	-
Cost of Revenue	265	202	209.85	216.45
Gross Profit	3,876	3,110	2,567	2,101
Selling, General & Admin	3,620	3,057	2,947	2,833
Operating Expenses	3,620	3,057	2,947	2,833
Operating Income	256	53	-380.22	-732.06
Interest Expense	-7	-	-0.76	-0.98
Interest & Investment Income	2	-	0.02	0.01
Currency Exchange Gain (Loss)	-2	-10	-6.41	-10.61
Other Non Operating Income (Expenses)	14	33	-3.87	-6.87
EBT Excluding Unusual Items	263	76	-391.23	-750.51
Merger & Restructuring Charges	-	-	-29.89	-
Gain (Loss) on Sale of Assets	-	-	1.04	-
Asset Writedown	-	-	-	-11.31
Other Unusual Items	-	-	7.73	8.02
Pretax Income	263	76	-412.35	-753.79
Income Tax Expense	-177	-22	2.5	2.7
Net Income	440	98	-414.84	-756.49
Net Income to Common	440	98	-414.84	-756.49
Net Income Growth	348.98%	-	-	-
Shares Outstanding (Basic)	16	15	15	14
Shares Outstanding (Diluted)	17	16	15	14
Shares Change (YoY)	9.40%	3.45%	5.92%	-
EPS (Basic)	26.79	6.38	-27.50	-53.11
EPS (Diluted)	25.77	6.34	-27.50	-53.11
EPS Growth	306.47%	-	-	-
Free Cash Flow	393	224	-358.94	-683.1
Free Cash Flow Per Share	23.02	14.35	-23.79	-47.96
Gross Margin	93.60%	93.90%	92.44%	90.66%
Operating Margin	6.18%	1.60%	-13.69%	-31.59%
Profit Margin	10.63%	2.96%	-14.94%	-32.65%
Free Cash Flow Margin	9.49%	6.76%	-12.93%	-29.48%
EBITDA	262	62	-367.42	-712.51
EBITDA Margin	6.33%	1.87%	-13.23%	-30.75%
D&A For EBITDA	6	9	12.8	19.55
EBIT	256	53	-380.22	-732.06
EBIT Margin	6.18%	1.60%	-13.69%	-31.59%

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