Sincere Co., LTD. 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	7,113	6,539	5,961	5,585	4,557	4,188
Revenue Growth (YoY)	12.03%	9.70%	6.73%	22.56%	8.81%	-4.12%
Cost of Revenue	4,814	4,442	4,118	4,184	3,179	2,862
Gross Profit	2,299	2,097	1,843	1,401	1,378	1,326
Selling, General & Admin	1,799	1,610	1,460	1,245	1,268	1,115
Other Operating Expenses	4	4	3	6	2	-
Operating Expenses	1,801	1,612	1,466	1,251	1,267	1,125
Operating Income	498	485	377	150	111	201
Interest Expense	-22	-16	-8	-4	-2	-2
Interest & Investment Income	11	10	24	9	-	1
Currency Exchange Gain (Loss)	-2	-11	-18	28	-5	12
Other Non Operating Income (Expenses)	-4	-3	-4	4	4	4
EBT Excluding Unusual Items	481	465	371	187	108	216
Gain (Loss) on Sale of Investments	-	-	-	-	6	-
Asset Writedown	9	2	74	-75	5	-1
Pretax Income	490	467	445	112	119	215
Income Tax Expense	160	159	150	46	36	73
Earnings From Continuing Operations	330	308	295	66	83	142
Minority Interest in Earnings	-	-7	-	-	-	-
Net Income	330	301	295	66	83	142
Net Income to Common	330	301	295	66	83	142
Net Income Growth	20.44%	2.03%	346.97%	-20.48%	-41.55%	86.84%
Shares Outstanding (Basic)	6	6	6	6	6	6
Shares Outstanding (Diluted)	6	6	6	6	6	6
Shares Change (YoY)	1.27%	0.47%	0.66%	0.21%	0.54%	-0.18%
EPS (Basic)	51.10	47.13	46.60	10.49	13.24	22.87
EPS (Diluted)	51.10	47.13	44.64	10.46	13.24	22.70
EPS Growth	24.20%	5.58%	326.77%	-21.01%	-41.67%	86.83%
Free Cash Flow	-	410	215	-308	-453	254
Free Cash Flow Per Share	-	64.19	33.82	-48.76	-71.87	40.52
Dividend Per Share	19.000	19.000	14.000	4.000	5.000	7.000
Dividend Growth	35.71%	35.71%	250.00%	-20.00%	-28.57%	75.00%
Gross Margin	32.32%	32.07%	30.92%	25.09%	30.24%	31.66%
Operating Margin	7.00%	7.42%	6.32%	2.69%	2.44%	4.80%
Profit Margin	4.64%	4.60%	4.95%	1.18%	1.82%	3.39%
Free Cash Flow Margin	-	6.27%	3.61%	-5.51%	-9.94%	6.07%
EBITDA	625.75	564	391	161	122	223
EBITDA Margin	8.80%	8.63%	6.56%	2.88%	2.68%	5.33%
D&A For EBITDA	127.75	79	14	11	11	22
EBIT	498	485	377	150	111	201
EBIT Margin	7.00%	7.42%	6.32%	2.69%	2.44%	4.80%
Effective Tax Rate	32.65%	34.05%	33.71%	41.07%	30.25%	33.95%
Advertising Expenses	-	287	328	148	320	219

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