INCLUSIVE 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	4,499	4,897	5,359	4,804	1,743	1,376
Revenue Growth (YoY)	-7.98%	-8.62%	11.55%	175.62%	26.67%	-8.51%
Cost of Revenue	2,898	3,006	3,137	2,886	927	695
Gross Profit	1,601	1,891	2,222	1,918	816	681
Selling, General & Admin	2,127	2,257	2,316	2,273	859	649
Operating Expenses	2,128	2,258	2,316	2,273	859	649
Operating Income	-527	-367	-94	-355	-43	32
Interest Expense	-7	-7	-7	-7	-3	-2
Earnings From Equity Investments	2	2	-5	-8	-	-
Currency Exchange Gain (Loss)	-3	10	-	4	-	-
Other Non Operating Income (Expenses)	11	10	1	19	15	11
EBT Excluding Unusual Items	-522	-352	-105	-347	-31	41
Gain (Loss) on Sale of Investments	-81	91	597	97	-18	-
Asset Writedown	-1,110	-1,112	-111	-547	-39	-
Other Unusual Items	154	-15	-	-11	-1	-
Pretax Income	-1,560	-1,388	381	-808	-89	41
Income Tax Expense	-74	-64	66	100	19	19
Earnings From Continuing Operations	-1,486	-1,324	315	-908	-108	22
Minority Interest in Earnings	280	251	-2	37	-7	-
Net Income	-1,206	-1,073	313	-871	-115	22
Net Income to Common	-1,206	-1,073	313	-871	-115	22
Net Income Growth	-	-	-	-	-	-86.83%
Shares Outstanding (Basic)	10	10	10	10	8	7
Shares Outstanding (Diluted)	10	10	10	10	8	7
Shares Change (YoY)	0.27%	-0.99%	3.78%	24.03%	5.89%	7.63%
EPS (Basic)	-119.98	-106.91	31.33	-89.18	-14.60	3.01
EPS (Diluted)	-119.98	-106.91	30.94	-89.18	-14.60	3.01
EPS Growth	-	-	-	-	-	-87.56%
Free Cash Flow	-	-136	54	27	110	-56
Free Cash Flow Per Share	-	-13.55	5.33	2.76	13.97	-7.53
Gross Margin	35.59%	38.62%	41.46%	39.92%	46.82%	49.49%
Operating Margin	-11.71%	-7.49%	-1.75%	-7.39%	-2.47%	2.33%
Profit Margin	-26.81%	-21.91%	5.84%	-18.13%	-6.60%	1.60%
Free Cash Flow Margin	-	-2.78%	1.01%	0.56%	6.31%	-4.07%
EBITDA	108	106	163	-48	47	58
EBITDA Margin	2.40%	2.16%	3.04%	-1.00%	2.70%	4.21%
D&A For EBITDA	635	473	257	307	90	26
EBIT	-527	-367	-94	-355	-43	32
EBIT Margin	-11.71%	-7.49%	-1.75%	-7.39%	-2.47%	2.33%
Effective Tax Rate	-	-	17.32%	-	-	46.34%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.