Shinagawa Refra Co., Ltd. (TYO:5351)

Shinagawa Refra Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Revenue	157,685	144,072	144,175	124,963	110,784	99,969
Revenue Growth (YoY)	12.87%	-0.07%	15.37%	12.80%	10.82%	-15.97%
Cost of Revenue	118,496	108,928	111,142	97,550	86,227	80,016
Gross Profit	39,189	35,144	33,033	27,413	24,557	19,953
Selling, General & Admin	26,071	21,865	19,144	16,568	14,449	11,546
Research & Development	-	-	-	-	-	1,120
Operating Expenses	26,071	21,865	19,144	16,568	14,449	12,666
Operating Income	13,118	13,279	13,889	10,845	10,108	7,287
Interest Expense	-1,042	-477	-219	-174	-95	-105
Interest & Investment Income	996	713	543	372	285	218
Earnings From Equity Investments	116	123	79	104	38	23
Currency Exchange Gain (Loss)	679	-70	366	102	294	36
Other Non Operating Income (Expenses)	31	87	244	208	84	761
EBT Excluding Unusual Items	13,898	13,655	14,902	11,457	10,714	8,220
Gain (Loss) on Sale of Investments	614	614	2,102	109	15	-4
Gain (Loss) on Sale of Assets	-59	658	6,465	958	-272	-366
Asset Writedown	-607	-402	-479	-105	-63	-3,384
Other Unusual Items	521	315	-381	58	-982	-54
Pretax Income	14,367	14,840	22,609	12,477	9,412	4,412
Income Tax Expense	4,666	4,725	6,839	3,710	2,600	1,321
Earnings From Continuing Operations	9,701	10,115	15,770	8,767	6,812	3,091
Minority Interest in Earnings	-490	-337	-490	-460	-1,504	-977
Net Income	9,211	9,778	15,280	8,307	5,308	2,114
Net Income to Common	9,211	9,778	15,280	8,307	5,308	2,114
Net Income Growth	-14.35%	-36.01%	83.94%	56.50%	151.09%	-61.91%
Shares Outstanding (Basic)	46	46	47	47	47	47
Shares Outstanding (Diluted)	46	46	47	47	47	47
Shares Change (YoY)	-0.68%	-2.00%	-0.54%	0.06%	0.06%	0.06%
EPS (Basic)	201.96	214.47	328.44	177.59	113.55	45.25
EPS (Diluted)	201.96	214.47	328.44	177.59	113.55	45.25
EPS Growth	-13.77%	-34.70%	84.94%	56.41%	150.94%	-61.93%
Free Cash Flow	7,419	7,311	6,297	5,500	6,286	5,242
Free Cash Flow Per Share	162.66	160.36	135.35	117.58	134.47	112.20
Dividend Per Share	90.000	90.000	68.000	40.000	38.000	22.000
Dividend Growth	11.11%	32.35%	70.00%	5.26%	72.73%	-15.38%
Gross Margin	24.85%	24.39%	22.91%	21.94%	22.17%	19.96%
Operating Margin	8.32%	9.22%	9.63%	8.68%	9.12%	7.29%
Profit Margin	5.84%	6.79%	10.60%	6.65%	4.79%	2.11%
Free Cash Flow Margin	4.71%	5.08%	4.37%	4.40%	5.67%	5.24%
EBITDA	19,939	17,953	17,696	13,776	12,792	9,868
EBITDA Margin	12.65%	12.46%	12.27%	11.02%	11.55%	9.87%
D&A For EBITDA	6,821	4,674	3,807	2,931	2,684	2,581
EBIT	13,118	13,279	13,889	10,845	10,108	7,287
EBIT Margin	8.32%	9.22%	9.63%	8.68%	9.12%	7.29%
Effective Tax Rate	32.48%	31.84%	30.25%	29.73%	27.62%	29.94%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.