RIDE ON EXPRESS HOLDINGS 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	23,875	23,393	23,995	25,353	25,703	25,384
Revenue Growth (YoY)	1.22%	-2.51%	-5.36%	-1.36%	1.26%	20.68%
Cost of Revenue	12,624	12,218	12,152	13,162	13,152	12,623
Gross Profit	11,251	11,175	11,843	12,191	12,551	12,761
Selling, General & Admin	10,254	10,322	10,722	10,877	10,568	10,297
Other Operating Expenses	66	66	63	53	45	42
Operating Expenses	10,326	10,394	10,775	10,940	10,607	10,341
Operating Income	925.14	781	1,068	1,251	1,944	2,420
Interest Expense	-15.94	-7	-9	-3	-1	-2
Interest & Investment Income	23.64	12	1	2	2	2
Earnings From Equity Investments	-9.84	-2	-	-	-	-
Currency Exchange Gain (Loss)	-	-	-	5	-	-
Other Non Operating Income (Expenses)	-44.57	-6	-16	-136	4	-116
EBT Excluding Unusual Items	878.42	778	1,044	1,119	1,949	2,304
Gain (Loss) on Sale of Investments	-88.3	-83	-14	-10	55	83
Gain (Loss) on Sale of Assets	57.98	26	-7	-23	-5	43
Asset Writedown	-83	-83	-290	-130	-45	-110
Other Unusual Items	-4.09	-5	-8	-7	-3	-3
Pretax Income	761	633	725	949	1,951	2,317
Income Tax Expense	341.24	300	361	403	705	820
Net Income	419.71	333	364	546	1,246	1,497
Net Income to Common	419.71	333	364	546	1,246	1,497
Net Income Growth	40.57%	-8.52%	-33.33%	-56.18%	-16.77%	87.59%
Shares Outstanding (Basic)	10	10	10	10	10	11
Shares Outstanding (Diluted)	10	10	10	10	10	11
Shares Change (YoY)	0.09%	0.24%	-0.69%	-6.08%	-2.27%	0.38%
EPS (Basic)	42.89	34.08	37.35	55.63	119.23	140.81
EPS (Diluted)	42.89	34.08	37.35	55.63	119.23	140.04
EPS Growth	40.25%	-8.73%	-32.87%	-53.34%	-14.86%	86.82%
Free Cash Flow	-	284	1,166	400	712	2,105
Free Cash Flow Per Share	-	29.07	119.63	40.76	68.13	196.85
Dividend Per Share	15.000	15.000	15.000	30.000	30.000	10.000
Dividend Growth	-	-	-50.00%	-	200.00%	-
Gross Margin	47.12%	47.77%	49.36%	48.09%	48.83%	50.27%
Operating Margin	3.88%	3.34%	4.45%	4.93%	7.56%	9.53%
Profit Margin	1.76%	1.42%	1.52%	2.15%	4.85%	5.90%
Free Cash Flow Margin	-	1.21%	4.86%	1.58%	2.77%	8.29%
EBITDA	1,177	1,061	1,386	1,626	2,286	2,706
EBITDA Margin	4.93%	4.54%	5.78%	6.41%	8.89%	10.66%
D&A For EBITDA	251.5	280	318	375	342	286
EBIT	925.14	781	1,068	1,251	1,944	2,420
EBIT Margin	3.88%	3.34%	4.45%	4.93%	7.56%	9.53%
Effective Tax Rate	44.84%	47.39%	49.79%	42.47%	36.13%	35.39%

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