Heiwa Real Estate 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	47,900	42,075	44,433	44,522	57,818	35,048
Revenue Growth (YoY)	34.30%	-5.31%	-0.20%	-23.00%	64.97%	-24.85%
Cost of Revenue	27,315	23,028	25,863	28,242	40,126	19,687
Gross Profit	20,585	19,047	18,570	16,280	17,692	15,361
Selling, General & Admin	6,209	5,850	5,547	5,495	5,076	4,132
Operating Expenses	6,209	5,850	5,547	5,495	5,076	4,132
Operating Income	14,376	13,197	13,023	10,785	12,616	11,229
Interest Expense	-2,403	-1,943	-1,714	-1,536	-1,470	-1,385
Interest & Investment Income	694	547	399	545	539	455
Other Non Operating Income (Expenses)	-249	-151	-246	-147	-114	-57
EBT Excluding Unusual Items	12,418	11,650	11,462	9,647	11,571	10,242
Gain (Loss) on Sale of Investments	2,667	799	1,034	3,543	761	-
Gain (Loss) on Sale of Assets	-45	-	-	-	344	-1
Asset Writedown	-8	-16	-88	-213	-51	-26
Other Unusual Items	85	-	1	283	-81	-
Pretax Income	15,117	12,433	12,409	13,260	12,544	10,215
Income Tax Expense	4,325	2,868	3,959	4,123	3,839	3,097
Net Income	10,792	9,565	8,450	9,137	8,705	7,118
Net Income to Common	10,792	9,565	8,450	9,137	8,705	7,118
Net Income Growth	86.87%	13.20%	-7.52%	4.96%	22.30%	1.02%
Shares Outstanding (Basic)	66	68	72	72	74	75
Shares Outstanding (Diluted)	66	68	72	72	74	75
Shares Change (YoY)	-0.45%	-5.59%	-0.40%	-2.27%	-1.99%	-1.60%
EPS (Basic)	161.71	141.54	118.05	127.14	118.37	94.87
EPS (Diluted)	161.71	141.54	118.05	127.14	118.37	94.87
EPS Growth	92.59%	19.89%	-7.14%	7.40%	24.77%	2.67%
Free Cash Flow	-	-7,669	1,394	-14,287	15,971	-18,602
Free Cash Flow Per Share	-	-113.48	19.48	-198.79	217.18	-247.93
Dividend Per Share	75.500	71.000	58.000	52.000	47.500	38.500
Dividend Growth	24.79%	22.41%	11.54%	9.47%	23.38%	-
Gross Margin	-	45.27%	41.79%	36.57%	30.60%	43.83%
Operating Margin	30.01%	31.36%	29.31%	24.22%	21.82%	32.04%
Profit Margin	22.53%	22.73%	19.02%	20.52%	15.06%	20.31%
Free Cash Flow Margin	-	-18.23%	3.14%	-32.09%	27.62%	-53.08%
EBITDA	20,027	18,927	18,858	16,509	18,090	16,360
EBITDA Margin	-	44.98%	42.44%	37.08%	31.29%	46.68%
D&A For EBITDA	5,651	5,730	5,835	5,724	5,474	5,131
EBIT	14,376	13,197	13,023	10,785	12,616	11,229
EBIT Margin	-	31.36%	29.31%	24.22%	21.82%	32.04%
Effective Tax Rate	-	23.07%	31.90%	31.09%	30.60%	30.32%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.