COVER Income Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Revenue	49,219	43,401	30,166	20,451	13,663	5,724
Revenue Growth (YoY)	23.65%	43.87%	47.50%	49.68%	138.70%	287.02%
Cost of Revenue	24,787	21,596	16,177	11,055	8,388	2,947
Gross Profit	24,432	21,805	13,989	9,396	5,275	2,777
Selling, General & Admin	16,257	13,311	8,285	5,883	3,419	1,078
Operating Expenses	16,749	13,803	8,451	5,978	3,419	1,078
Operating Income	7,683	8,002	5,538	3,418	1,856	1,699
Interest & Investment Income	14	4	-	-	-	-
Currency Exchange Gain (Loss)	-20	-43	108	1	1	-
Other Non Operating Income (Expenses)	-19	-2	-25	-35	-4	6
EBT Excluding Unusual Items	7,658	7,961	5,621	3,384	1,853	1,705
Gain (Loss) on Sale of Assets	-	-	-	-2	-211	-
Asset Writedown	-197	-164	-	-29	-	-18
Other Unusual Items	100	-350	100	-1	-1	-1
Pretax Income	7,561	7,447	5,721	3,352	1,641	1,686
Income Tax Expense	1,852	1,888	1,584	844	397	466
Net Income to Company	-	5,559	4,137	2,508	1,244	1,220
Net Income	5,709	5,559	4,137	2,508	1,244	1,220
Net Income to Common	5,709	5,559	4,137	2,508	1,244	1,220
Net Income Growth	7.94%	34.37%	64.95%	101.61%	1.97%	625.81%
Shares Outstanding (Basic)	65	63	61	60	60	60
Shares Outstanding (Diluted)	67	67	67	65	60	60
Shares Change (YoY)	0.15%	0.03%	2.38%	9.68%	-	-
EPS (Basic)	87.34	88.69	67.68	42.04	20.86	20.46
EPS (Diluted)	85.14	83.00	61.79	38.35	20.86	20.46
EPS Growth	7.78%	34.33%	61.12%	83.81%	1.97%	-
Free Cash Flow	-	4,662	2,336	3,403	-	-
Free Cash Flow Per Share	-	69.61	34.89	52.04	-	-
Gross Margin	49.64%	50.24%	46.37%	45.94%	38.61%	48.52%
Operating Margin	15.61%	18.44%	18.36%	16.71%	13.58%	29.68%
Profit Margin	11.60%	12.81%	13.71%	12.26%	9.11%	21.31%
Free Cash Flow Margin	-	10.74%	7.74%	16.64%	-	-
EBITDA	9,003	8,960	6,014	3,530	-	-
EBITDA Margin	18.29%	20.64%	19.94%	17.26%	-	-
D&A For EBITDA	1,320	958	476	112	-	-
EBIT	7,683	8,002	5,538	3,418	1,856	1,699
EBIT Margin	15.61%	18.44%	18.36%	16.71%	13.58%	29.68%
Effective Tax Rate	24.49%	25.35%	27.69%	25.18%	24.19%	27.64%

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