TYO:8929 Income Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Operating Revenue	41,785	45,618	36,098	35,952	24,213
Revenue	41,785	45,618	36,098	35,952	24,213
Revenue Growth (YoY)	-8.40%	26.37%	0.41%	48.48%	26.65%
Cost of Revenue	33,284	38,649	29,742	30,251	19,883
Gross Profit	8,501	6,969	6,356	5,701	4,330
Selling, General & Admin	4,642	3,454	3,082	3,063	2,466
Amortization of Goodwill & Intangibles	-	8	8	8	8
Operating Expenses	4,642	3,462	3,090	3,071	2,474
Operating Income	3,859	3,507	3,266	2,630	1,856
Interest Expense	-138	-77	-77	-80	-74
Interest & Investment Income	63	41	23	12	6
Earnings From Equity Investments	-	1	1	4	2
Currency Exchange Gain (Loss)	-7	37	150	37	44
Other Non Operating Income (Expenses)	-21	-30	-6	-105	-37
EBT Excluding Unusual Items	3,756	3,479	3,357	2,498	1,797
Gain (Loss) on Sale of Investments	24	-75	-224	-	34
Asset Writedown	-22	-	-	-22	-9
Other Unusual Items	-2	-	-	-	189
Pretax Income	3,756	3,404	3,133	2,476	2,011
Income Tax Expense	990	978	1,059	782	534
Earnings From Continuing Operations	2,766	2,426	2,074	1,694	1,477
Minority Interest in Earnings	-16	2	-12	-	4
Net Income	2,750	2,428	2,062	1,694	1,481
Net Income to Common	2,750	2,428	2,062	1,694	1,481
Net Income Growth	13.26%	17.75%	21.72%	14.38%	85.13%
Shares Outstanding (Basic)	24	24	24	24	24
Shares Outstanding (Diluted)	24	24	24	24	24
Shares Change (YoY)	-1.32%	-0.06%	0.19%	-0.10%	-0.33%
EPS (Basic)	114.77	100.00	84.78	69.80	61.21
EPS (Diluted)	114.56	99.84	84.74	69.75	60.91
EPS Growth	14.74%	17.82%	21.49%	14.51%	85.56%
Free Cash Flow	854	6,614	2,458	2,104	2,226
Free Cash Flow Per Share	35.58	271.89	100.98	86.60	91.53
Dividend Per Share	-	46.000	41.000	35.000	28.000
Dividend Growth	-	12.20%	17.14%	25.00%	5.66%
Gross Margin	20.34%	15.28%	17.61%	15.86%	17.88%
Operating Margin	9.23%	7.69%	9.05%	7.32%	7.66%
Profit Margin	6.58%	5.32%	5.71%	4.71%	6.12%
Free Cash Flow Margin	2.04%	14.50%	6.81%	5.85%	9.19%
EBITDA	4,352	3,730	3,559	2,936	2,166
EBITDA Margin	10.42%	8.18%	9.86%	8.17%	8.95%
D&A For EBITDA	493	223	293	306	310
EBIT	3,859	3,507	3,266	2,630	1,856
EBIT Margin	9.23%	7.69%	9.05%	7.32%	7.66%
Effective Tax Rate	26.36%	28.73%	33.80%	31.58%	26.55%

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