Feedforce Group Income Statement

Financials in millions JPY. Fiscal year is June - May.

Millions JPY. Fiscal year is Jun - May.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	May '25 May 31, 2025	May '24 May 31, 2024	May '23 May 31, 2023	May '22 May 31, 2022	May '21 May 31, 2021
Revenue	4,660	4,373	4,229	3,966	3,005	2,587
Revenue Growth (YoY)	11.75%	3.40%	6.63%	31.98%	16.16%	69.53%
Cost of Revenue	1,317	1,257	1,424	1,350	904	804
Gross Profit	3,343	3,116	2,805	2,616	2,101	1,783
Selling, General & Admin	1,497	1,520	1,561	1,588	1,170	890
Operating Expenses	1,500	1,523	1,567	1,586	1,170	893
Operating Income	1,843	1,593	1,238	1,030	931	890
Interest Expense	-28	-24	-14	-17	-16	-15
Interest & Investment Income	4	1	1	11	1	-
Earnings From Equity Investments	-3	-22	-31	-10	-	-5
Currency Exchange Gain (Loss)	-	-	1	-	-	-
Other Non Operating Income (Expenses)	-22	-21	-28	6	-5	2
EBT Excluding Unusual Items	1,794	1,527	1,167	1,020	911	872
Gain (Loss) on Sale of Investments	-90	-90	111	20	6	-
Asset Writedown	-	-	-344	-580	-	-
Other Unusual Items	37	9	85	-2	-	-
Pretax Income	1,741	1,446	1,019	458	917	872
Income Tax Expense	433	444	546	432	320	372
Earnings From Continuing Operations	1,308	1,002	473	26	597	500
Minority Interest in Earnings	-	-	-	86	5	-28
Net Income	1,308	1,002	473	112	602	472
Net Income to Common	1,308	1,002	473	112	602	472
Net Income Growth	87.39%	111.84%	322.32%	-81.39%	27.54%	189.57%
Shares Outstanding (Basic)	25	25	26	26	26	25
Shares Outstanding (Diluted)	25	26	26	26	27	26
Shares Change (YoY)	-3.54%	-3.26%	-0.04%	-0.95%	2.51%	10.90%
EPS (Basic)	52.73	39.67	18.22	4.31	23.17	18.85
EPS (Diluted)	52.32	39.31	17.95	4.28	22.63	18.21
EPS Growth	94.20%	119.00%	319.39%	-81.09%	24.27%	161.17%
Free Cash Flow	1,437	1,380	835	151	613	1,322
Free Cash Flow Per Share	57.47	54.11	31.67	5.73	23.02	50.90
Dividend Per Share	10.000	10.000	-	-	-	-
Gross Margin	71.74%	71.25%	66.33%	65.96%	69.92%	68.92%
Operating Margin	39.55%	36.43%	29.27%	25.97%	30.98%	34.40%
Profit Margin	28.07%	22.91%	11.19%	2.82%	20.03%	18.25%
Free Cash Flow Margin	30.84%	31.56%	19.74%	3.81%	20.40%	51.10%
EBITDA	2,041	1,789	1,445	1,466	1,137	1,058
EBITDA Margin	43.80%	40.91%	34.17%	36.96%	37.84%	40.90%
D&A For EBITDA	198	196	207	436	206	168
EBIT	1,843	1,593	1,238	1,030	931	890
EBIT Margin	39.55%	36.43%	29.27%	25.97%	30.98%	34.40%
Effective Tax Rate	24.87%	30.70%	53.58%	94.32%	34.90%	42.66%

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