SHIKIGAKU. Income Statement

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

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Revenue	6,496	5,369	4,829	4,458	3,823	2,506
Revenue Growth (YoY)	22.73%	11.18%	8.32%	16.61%	52.55%	45.70%
Cost of Revenue	2,014	1,632	1,396	1,020	1,058	639
Gross Profit	4,482	3,737	3,433	3,438	2,765	1,867
Selling, General & Admin	3,642	3,406	3,547	3,495	2,405	1,729
Operating Expenses	3,642	3,406	3,547	3,495	2,405	1,729
Operating Income	840	331	-114	-57	360	138
Interest Expense	-3	-4	-5	-3	-4	-3
Interest & Investment Income	3	1	-	1	6	-
Earnings From Equity Investments	-1	-3	-2	-4	-21	-12
Other Non Operating Income (Expenses)	5	31	11	-11	4	5
EBT Excluding Unusual Items	847	356	-110	-74	345	128
Gain (Loss) on Sale of Investments	-	203	-	-194	225	71
Gain (Loss) on Sale of Assets	-	10	-	-	-	-
Asset Writedown	-160	-	-34	-	-22	-109
Other Unusual Items	-	-	35	-30	1	-
Pretax Income	687	569	-109	-298	549	90
Income Tax Expense	345	217	19	60	178	89
Earnings From Continuing Operations	342	352	-128	-358	371	1
Minority Interest in Earnings	98	74	31	106	-147	-42
Net Income	440	426	-97	-252	224	-41
Net Income to Common	440	426	-97	-252	224	-41
Shares Outstanding (Basic)	8	9	9	8	8	7
Shares Outstanding (Diluted)	9	9	9	8	8	7
Shares Change (YoY)	0.21%	-2.41%	8.67%	0.19%	8.68%	-3.40%
EPS (Basic)	52.31	49.99	-11.04	-31.17	28.95	-5.52
EPS (Diluted)	50.82	49.76	-11.04	-31.17	27.88	-5.52
Free Cash Flow	-	123	-176	-1,005	431	157
Free Cash Flow Per Share	-	14.35	-20.04	-124.32	53.42	21.15
Gross Margin	69.00%	69.60%	71.09%	77.12%	72.32%	74.50%
Operating Margin	12.93%	6.17%	-2.36%	-1.28%	9.42%	5.51%
Profit Margin	6.77%	7.93%	-2.01%	-5.65%	5.86%	-1.64%
Free Cash Flow Margin	-	2.29%	-3.65%	-22.54%	11.27%	6.26%
EBITDA	896.5	395	-40	24	427	196
EBITDA Margin	13.80%	7.36%	-0.83%	0.54%	11.17%	7.82%
D&A For EBITDA	56.5	64	74	81	67	58
EBIT	840	331	-114	-57	360	138
EBIT Margin	12.93%	6.17%	-2.36%	-1.28%	9.42%	5.51%
Effective Tax Rate	50.22%	38.14%	-	-	32.42%	98.89%
Advertising Expenses	-	449	681	543	395	331

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