Direct Marketing MiX Income Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	22,255	20,952	26,851	34,673	30,285	22,461
Revenue Growth (YoY)	7.96%	-21.97%	-22.56%	14.49%	34.83%	30.49%
Cost of Revenue	20,302	19,190	25,381	28,941	25,569	18,902
Gross Profit	1,953	1,762	1,470	5,732	4,716	3,559
Other Operating Expenses	24.82	-2	-44	-63	-64	-34
Operating Expenses	24.82	-2	-44	-63	-64	-34
Operating Income	1,928	1,764	1,514	5,795	4,780	3,593
Interest Expense	-53.15	-47	-45	-43	-140	-121
Interest & Investment Income	13.13	4	4	3	4	39
Other Non Operating Income (Expenses)	-0	-1	-1	-1	-3	-1
EBT Excluding Unusual Items	1,888	1,720	1,472	5,754	4,641	3,510
Gain (Loss) on Sale of Assets	-	-16	-134	-24	-	-7
Asset Writedown	-	-314	-159	-	-	-
Pretax Income	1,888	1,390	1,179	5,730	4,641	3,503
Income Tax Expense	622.08	556	869	1,927	1,425	1,079
Earnings From Continuing Operations	1,266	834	310	3,803	3,216	2,424
Net Income	1,266	834	310	3,803	3,216	2,424
Net Income to Common	1,266	834	310	3,803	3,216	2,424
Net Income Growth	-	169.03%	-91.85%	18.25%	32.67%	66.25%
Shares Outstanding (Basic)	46	46	46	45	41	40
Shares Outstanding (Diluted)	47	47	47	48	48	47
Shares Change (YoY)	0.92%	-1.23%	-2.08%	0.14%	1.80%	-0.57%
EPS (Basic)	27.29	18.04	6.73	85.09	78.31	60.45
EPS (Diluted)	27.06	17.89	6.57	78.86	66.80	51.25
EPS Growth	-	172.30%	-91.67%	18.05%	30.33%	67.17%
Free Cash Flow	2,667	1,877	1,482	4,688	3,305	3,759
Free Cash Flow Per Share	57.01	40.24	31.38	97.21	68.63	79.46
Dividend Per Share	4.500	4.500	3.000	17.000	5.000	2.500
Dividend Growth	50.00%	50.00%	-82.35%	240.00%	100.00%	-
Gross Margin	8.77%	8.41%	5.47%	16.53%	15.57%	15.85%
Operating Margin	8.66%	8.42%	5.64%	16.71%	15.78%	16.00%
Profit Margin	5.69%	3.98%	1.16%	10.97%	10.62%	10.79%
Free Cash Flow Margin	11.98%	8.96%	5.52%	13.52%	10.91%	16.74%
EBITDA	3,197	3,166	3,131	7,258	5,881	4,327
EBITDA Margin	14.36%	15.11%	11.66%	20.93%	19.42%	19.27%
D&A For EBITDA	1,269	1,402	1,617	1,463	1,101	734
EBIT	1,928	1,764	1,514	5,795	4,780	3,593
EBIT Margin	8.66%	8.42%	5.64%	16.71%	15.78%	16.00%
Effective Tax Rate	32.95%	40.00%	73.71%	33.63%	30.70%	30.80%

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