Land Business Income Statement

Financials in millions JPY. Fiscal year is October - September.

Millions JPY. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2010
Period Ending	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '10 Sep 30, 2010
Revenue	18,603	9,975	4,490	4,645	8,265
Revenue Growth (YoY)	86.50%	122.16%	-3.34%	-43.80%	-52.79%
Cost of Revenue	9,803	5,573	2,849	3,054	6,563
Gross Profit	8,800	4,402	1,641	1,591	1,702
Selling, General & Admin	7,900	5,728	1,521	1,133	646.42
Other Operating Expenses	265	226	162	152	80.12
Operating Expenses	8,165	5,954	1,683	1,285	744.29
Operating Income	635	-1,552	-42	306	957.31
Interest Expense	-472	-364	-387	-407	-596.5
Interest & Investment Income	11	4	1	-	2.61
Currency Exchange Gain (Loss)	16	-	-	-	-
Other Non Operating Income (Expenses)	-25	-52	-45	-46	-205.47
EBT Excluding Unusual Items	165	-1,964	-473	-147	157.94
Gain (Loss) on Sale of Investments	-	4	-	-	-
Gain (Loss) on Sale of Assets	35	3,066	1,506	868	-51.24
Asset Writedown	-109	-2,548	-545	-69	-
Legal Settlements	-	-	-	-22	-
Other Unusual Items	-35	-133	-20	-	-
Pretax Income	56	-1,575	468	630	106.7
Income Tax Expense	418	524	119	364	44.43
Net Income	-362	-2,099	349	266	62.27
Net Income to Common	-362	-2,099	349	266	62.27
Net Income Growth	-	-	31.20%	327.19%	-63.91%
Shares Outstanding (Basic)	20	20	20	20	26
Shares Outstanding (Diluted)	20	20	20	20	26
Shares Change (YoY)	-	-	-	-24.15%	-0.46%
EPS (Basic)	-18.24	-105.76	17.59	13.40	2.38
EPS (Diluted)	-18.24	-105.76	17.59	13.40	2.38
EPS Growth	-	-	31.20%	463.23%	-63.74%
Free Cash Flow	550	-4,805	-1,652	-204	-825.83
Free Cash Flow Per Share	27.71	-242.11	-83.24	-10.28	-31.56
Dividend Per Share	6.000	6.000	6.000	6.000	2.000
Dividend Growth	-	-	-	200.00%	-20.00%
Gross Margin	47.30%	44.13%	36.55%	34.25%	20.59%
Operating Margin	3.41%	-15.56%	-0.94%	6.59%	11.58%
Profit Margin	-1.95%	-21.04%	7.77%	5.73%	0.75%
Free Cash Flow Margin	2.96%	-48.17%	-36.79%	-4.39%	-9.99%
EBITDA	1,731	-567	844	1,264	1,466
EBITDA Margin	9.30%	-5.68%	18.80%	27.21%	17.74%
D&A For EBITDA	1,096	985	886	958	508.75
EBIT	635	-1,552	-42	306	957.31
EBIT Margin	3.41%	-15.56%	-0.94%	6.59%	11.58%
Effective Tax Rate	746.43%	-	25.43%	57.78%	41.64%
Revenue as Reported	-	-	-	-	8,265

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