Hatsuho Shouji 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	35,501	34,827	34,422	31,792	29,909	29,056
Revenue Growth (YoY)	1.58%	1.18%	8.27%	6.30%	2.94%	49.40%
Cost of Revenue	29,211	28,625	28,209	25,965	24,918	24,331
Gross Profit	6,290	6,202	6,213	5,827	4,991	4,725
Selling, General & Admin	4,847	4,748	4,638	4,393	4,085	4,062
Operating Expenses	5,012	4,913	4,791	4,540	4,227	4,215
Operating Income	1,278	1,289	1,422	1,287	764	510
Interest Expense	-5	-4	-3	-3	-4	-5
Interest & Investment Income	13	8	5	5	4	4
Other Non Operating Income (Expenses)	240	210	148	147	173	118
EBT Excluding Unusual Items	1,526	1,503	1,572	1,436	937	627
Gain (Loss) on Sale of Investments	-	-	1	6	-	-
Gain (Loss) on Sale of Assets	-21	-2	-	-12	-	-
Asset Writedown	-	-	-	-	-	-100
Other Unusual Items	-	76	-	-	-	-
Pretax Income	1,505	1,577	1,573	1,430	937	527
Income Tax Expense	492	486	506	468	337	230
Earnings From Continuing Operations	1,013	1,091	1,067	962	600	297
Minority Interest in Earnings	-110	-117	-92	-108	-99	-81
Net Income	903	974	975	854	501	216
Net Income to Common	903	974	975	854	501	216
Net Income Growth	-5.64%	-0.10%	14.17%	70.46%	131.94%	-56.27%
Shares Outstanding (Basic)	3	3	3	3	3	3
Shares Outstanding (Diluted)	3	3	3	3	3	3
Shares Change (YoY)	0.24%	0.27%	0.21%	-0.01%	-0.01%	-0.02%
EPS (Basic)	274.07	296.15	297.24	260.91	153.06	65.98
EPS (Diluted)	274.07	296.15	297.24	260.91	153.06	65.98
EPS Growth	-5.86%	-0.37%	13.93%	70.47%	131.97%	-56.27%
Free Cash Flow	-	239	44	1,033	1,189	-306
Free Cash Flow Per Share	-	72.67	13.41	315.60	363.24	-93.47
Dividend Per Share	68.000	68.000	55.000	40.000	35.000	27.500
Dividend Growth	23.64%	23.64%	37.50%	14.29%	27.27%	10.00%
Gross Margin	17.72%	17.81%	18.05%	18.33%	16.69%	16.26%
Operating Margin	3.60%	3.70%	4.13%	4.05%	2.55%	1.75%
Profit Margin	2.54%	2.80%	2.83%	2.69%	1.68%	0.74%
Free Cash Flow Margin	-	0.69%	0.13%	3.25%	3.98%	-1.05%
EBITDA	1,449	1,452	1,574	1,437	916	669
EBITDA Margin	4.08%	4.17%	4.57%	4.52%	3.06%	2.30%
D&A For EBITDA	171.25	163	152	150	152	159
EBIT	1,278	1,289	1,422	1,287	764	510
EBIT Margin	3.60%	3.70%	4.13%	4.05%	2.55%	1.75%
Effective Tax Rate	32.69%	30.82%	32.17%	32.73%	35.97%	43.64%

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