Pilot Income Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	133,687	126,391	126,168	118,590	112,850	103,057
Revenue Growth	6.53%	0.18%	6.39%	5.09%	9.50%	18.33%
Cost of Revenue	65,801	61,944	61,440	56,712	52,738	48,864
Gross Profit	67,886	64,447	64,728	61,878	60,112	54,193
Selling, General & Admin	49,136	46,116	45,378	41,528	37,605	33,737
Operating Expenses	49,136	47,797	46,922	42,875	38,867	34,867
Operating Income	18,750	16,650	17,806	19,003	21,245	19,326
Interest Expense	-140	-83	-148	-202	-110	-105
Interest & Investment Income	1,202	1,186	1,238	907	591	265
Currency Exchange Gain (Loss)	1,201	-132	984	865	705	586
Other Non Operating Income (Expenses)	133	234	228	265	200	289
EBT Excluding Unusual Items	21,146	17,855	20,108	20,838	22,631	20,361
Gain (Loss) on Sale of Investments	1,410	1,102	1,344	287	1	-
Gain (Loss) on Sale of Assets	42	45	79	386	492	14
Asset Writedown	-79	-248	-168	-248	-117	-19
Other Unusual Items	-396	-209	18	-1,025	-370	144
Pretax Income	22,079	18,545	21,381	20,238	22,637	20,500
Income Tax Expense	7,309	6,404	6,150	6,480	6,782	6,142
Earnings From Continuing Operations	14,770	12,141	15,231	13,758	15,855	14,358
Minority Interest in Earnings	-60	-77	-50	-97	-82	-88
Net Income	14,710	12,064	15,181	13,661	15,773	14,270
Net Income to Common	14,710	12,064	15,181	13,661	15,773	14,270
Net Income Growth	5.77%	-20.53%	11.13%	-13.39%	10.53%	43.66%
Shares Outstanding (Basic)	110	114	117	118	118	118
Shares Outstanding (Diluted)	110	114	117	118	118	118
Shares Change	-5.16%	-2.61%	-0.95%	0.01%	0.01%	-
EPS (Basic)	133.85	105.67	129.51	115.43	133.28	120.60
EPS (Diluted)	133.85	105.67	129.51	115.43	133.28	120.60
EPS Growth	11.52%	-18.40%	12.19%	-13.40%	10.52%	43.66%
Free Cash Flow	10,556	5,740	11,535	1,189	9,437	16,502
Free Cash Flow Per Share	96.06	50.28	98.40	10.05	79.74	139.46
Dividend Per Share	41.000	40.000	39.000	33.333	30.000	20.000
Dividend Growth	-0.81%	2.56%	17.00%	11.11%	50.00%	9.09%
Gross Margin	50.78%	50.99%	51.30%	52.18%	53.27%	52.59%
Operating Margin	14.03%	13.17%	14.11%	16.02%	18.83%	18.75%
Profit Margin	11.00%	9.54%	12.03%	11.52%	13.98%	13.85%
Free Cash Flow Margin	7.90%	4.54%	9.14%	1.00%	8.36%	16.01%
EBITDA	25,404	23,188	22,928	23,660	25,067	22,886
EBITDA Margin	19.00%	18.35%	18.17%	19.95%	22.21%	22.21%
D&A For EBITDA	6,654	6,538	5,122	4,657	3,822	3,560
EBIT	18,750	16,650	17,806	19,003	21,245	19,326
EBIT Margin	14.03%	13.17%	14.11%	16.02%	18.83%	18.75%
Effective Tax Rate	33.10%	34.53%	28.76%	32.02%	29.96%	29.96%
Advertising Expenses	-	8,749	8,782	8,166	7,443	6,916