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	Sep '25 Sep 30, 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	23,665	23,393	23,995	25,353	25,703	25,384
Revenue Growth (YoY)	0.27%	-2.51%	-5.36%	-1.36%	1.26%	20.68%
Cost of Revenue	12,350	12,218	12,152	13,162	13,152	12,623
Gross Profit	11,315	11,175	11,843	12,191	12,551	12,761
Selling, General & Admin	10,222	10,322	10,722	10,877	10,568	10,297
Other Operating Expenses	66	66	63	53	45	42
Operating Expenses	10,294	10,394	10,775	10,940	10,607	10,341
Operating Income	1,021	781	1,068	1,251	1,944	2,420
Interest Expense	-11	-7	-9	-3	-1	-2
Interest & Investment Income	23	12	1	2	2	2
Earnings From Equity Investments	-2	-2	-	-	-	-
Currency Exchange Gain (Loss)	-	-	-	5	-	-
Other Non Operating Income (Expenses)	6	-6	-16	-136	4	-116
EBT Excluding Unusual Items	1,037	778	1,044	1,119	1,949	2,304
Gain (Loss) on Sale of Investments	-122	-83	-14	-10	55	83
Gain (Loss) on Sale of Assets	32	26	-7	-23	-5	43
Asset Writedown	-83	-83	-290	-130	-45	-110
Other Unusual Items	-4	-5	-8	-7	-3	-3
Pretax Income	860	633	725	949	1,951	2,317
Income Tax Expense	388	300	361	403	705	820
Net Income	472	333	364	546	1,246	1,497
Net Income to Common	472	333	364	546	1,246	1,497
Net Income Growth	155.13%	-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)	0.24%	0.24%	-0.69%	-6.08%	-2.27%	0.38%
EPS (Basic)	48.26	34.08	37.35	55.63	119.23	140.81
EPS (Diluted)	48.26	34.08	37.35	55.63	119.23	140.04
EPS Growth	154.54%	-8.73%	-32.87%	-53.34%	-14.86%	86.82%
Free Cash Flow	463	284	1,166	400	712	2,105
Free Cash Flow Per Share	47.34	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	47.81%	47.77%	49.36%	48.09%	48.83%	50.27%
Operating Margin	4.31%	3.34%	4.45%	4.93%	7.56%	9.53%
Profit Margin	1.99%	1.42%	1.52%	2.15%	4.85%	5.90%
Free Cash Flow Margin	1.96%	1.21%	4.86%	1.58%	2.77%	8.29%
EBITDA	1,296	1,061	1,386	1,626	2,286	2,706
EBITDA Margin	5.48%	4.54%	5.78%	6.41%	8.89%	10.66%
D&A For EBITDA	275	280	318	375	342	286
EBIT	1,021	781	1,068	1,251	1,944	2,420
EBIT Margin	4.31%	3.34%	4.45%	4.93%	7.56%	9.53%
Effective Tax Rate	45.12%	47.39%	49.79%	42.47%	36.13%	35.39%

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