Heiwa Real Estate Income Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Revenue	50,855	42,075	44,433	44,522	57,818
Revenue Growth (YoY)	20.87%	-5.31%	-0.20%	-23.00%	64.97%
Cost of Revenue	29,536	23,028	25,863	28,242	40,126
Gross Profit	21,319	19,047	18,570	16,280	17,692
Selling, General & Admin	6,209	5,850	5,547	5,495	5,076
Operating Expenses	6,209	5,850	5,547	5,495	5,076
Operating Income	15,110	13,197	13,023	10,785	12,616
Interest Expense	-2,554	-1,943	-1,714	-1,536	-1,470
Interest & Investment Income	715	547	399	545	539
Other Non Operating Income (Expenses)	-292	-151	-246	-147	-114
EBT Excluding Unusual Items	12,979	11,650	11,462	9,647	11,571
Gain (Loss) on Sale of Investments	2,690	799	1,034	3,543	761
Gain (Loss) on Sale of Assets	40	-	-	-	344
Asset Writedown	-150	-16	-88	-213	-51
Other Unusual Items	338	-	1	283	-81
Pretax Income	15,897	12,433	12,409	13,260	12,544
Income Tax Expense	4,865	2,868	3,959	4,123	3,839
Net Income	11,032	9,565	8,450	9,137	8,705
Net Income to Common	11,032	9,565	8,450	9,137	8,705
Net Income Growth	15.34%	13.20%	-7.52%	4.96%	22.30%
Shares Outstanding (Basic)	67	68	72	72	74
Shares Outstanding (Diluted)	67	68	72	72	74
Shares Change (YoY)	-1.43%	-5.59%	-0.40%	-2.27%	-1.99%
EPS (Basic)	165.62	141.54	118.05	127.14	118.37
EPS (Diluted)	165.62	141.54	118.05	127.14	118.37
EPS Growth	17.01%	19.89%	-7.14%	7.40%	24.77%
Free Cash Flow	-5,925	-7,669	1,394	-14,287	15,971
Free Cash Flow Per Share	-88.95	-113.48	19.48	-198.79	217.18
Dividend Per Share	-	71.000	58.000	52.000	47.500
Dividend Growth	-	22.41%	11.54%	9.47%	23.38%
Gross Margin	41.92%	45.27%	41.79%	36.57%	30.60%
Operating Margin	29.71%	31.36%	29.31%	24.22%	21.82%
Profit Margin	21.69%	22.73%	19.02%	20.52%	15.06%
Free Cash Flow Margin	-11.65%	-18.23%	3.14%	-32.09%	27.62%
EBITDA	21,021	18,927	18,858	16,509	18,090
EBITDA Margin	41.34%	44.98%	42.44%	37.08%	31.29%
D&A For EBITDA	5,911	5,730	5,835	5,724	5,474
EBIT	15,110	13,197	13,023	10,785	12,616
EBIT Margin	29.71%	31.36%	29.31%	24.22%	21.82%
Effective Tax Rate	30.60%	23.07%	31.90%	31.09%	30.60%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.