Invincible Investment Income Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	43,047	38,138	28,697	15,381	9,644	11,577
Property Management Fees	4,173	4,774	6,037	2,761	-	890.44
Gain (Loss) on Sale of Assets (Rev)	-	-	-	1,468	2,568	4,649
Other Revenue	2,350	2,350	0	0	0	0
Total Revenue	50,663	46,691	34,734	19,610	12,213	17,116
Revenue Growth (YoY	26.80%	34.42%	77.13%	60.57%	-28.65%	-59.02%
Property Expenses	14,722	13,097	11,621	10,867	11,742	14,017
Selling, General & Administrative	155.88	143.88	97.7	102.27	113.41	124.61
Other Operating Expenses	1,097	1,063	69.63	269.11	405.88	421.78
Total Operating Expenses	15,975	14,303	11,788	11,238	12,262	14,563
Operating Income	34,687	32,388	22,946	8,371	-49.07	2,553
Interest Expense	-4,120	-3,287	-1,226	-1,173	-1,296	-1,424
Interest & Investment Income	38.02	5.78	0.24	0.26	1.28	644.08
Currency Exchange Gain (Loss)	-218.91	423.97	101.9	-67.54	-75.23	-18.8
Other Non-Operating Income	-712.04	-1,322	-1,875	-1,039	-1,166	-705.63
EBT Excluding Unusual Items	29,675	28,209	19,948	6,092	-2,584	1,049
Asset Writedown	-99.85	-24.99	-	-	-	-73.12
Other Unusual Items	-70.15	-145.01	-	-	-	73.12
Pretax Income	29,505	28,039	19,948	6,092	-2,584	1,049
Income Tax Expense	0.61	0.61	1.21	1.21	1.21	1.21
Net Income	29,504	28,039	19,946	6,090	-2,585	1,048
Net Income to Common	29,504	28,039	19,946	6,090	-2,585	1,048
Net Income Growth	23.28%	40.57%	227.50%	-	-	-96.81%
Basic Shares Outstanding	8	7	6	6	6	6
Diluted Shares Outstanding	8	7	6	6	6	6
Shares Change (YoY)	13.54%	12.10%	5.21%	-	-	3.69%
EPS (Basic)	3859.17	3899.34	3109.60	998.96	-424.07	171.83
EPS (Diluted)	3859.17	3899.34	3109.60	998.96	-424.07	171.83
EPS Growth	8.59%	25.40%	211.28%	-	-	-96.93%
Dividend Per Share	-	-	3104.000	998.000	181.000	236.000
Dividend Growth	-	-	211.02%	451.38%	-23.30%	-93.02%
Operating Margin	68.47%	69.37%	66.06%	42.69%	-0.40%	14.92%
Profit Margin	58.24%	60.05%	57.43%	31.06%	-21.17%	6.12%
EBITDA	44,868	41,737	30,910	15,894	7,691	10,546
EBITDA Margin	-	89.39%	88.99%	81.05%	62.98%	61.61%
D&A For Ebitda	10,180	9,349	7,965	7,522	7,740	7,992
EBIT	34,687	32,388	22,946	8,371	-49.07	2,553
EBIT Margin	-	69.37%	66.06%	42.69%	-0.40%	14.92%
Funds From Operations (FFO)	19,538	17,242	-	-	-	-
FFO Payout Ratio	-	138.96%	-	-	-	-
Effective Tax Rate	-	0.00%	0.01%	0.02%	-	0.11%
Revenue as Reported	25,108	21,136	34,734	19,610	12,213	17,751

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.