TYO:8985 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
Rental Revenue	43,218	32,390	25,504	13,926	9,502
Gain (Loss) on Sale of Assets (Rev)	2,346	-	-	-	3,259
Other Revenue	-	1,092	1,071	986.99	872.22
Total Revenue	45,564	33,481	26,575	14,913	13,634
Revenue Growth (YoY	36.09%	25.99%	78.20%	9.38%	-1.48%
Property Expenses	14,067	12,237	11,178	10,346	10,383
Selling, General & Administrative	160	17.4	17.7	17.4	17.4
Other Operating Expenses	284	210.02	212.41	195.02	236.57
Total Operating Expenses	14,511	12,464	11,408	10,558	10,637
Operating Income	31,053	21,017	15,166	4,354	2,997
Interest Expense	-4,296	-1,613	-1,182	-1,176	-1,242
Interest & Investment Income	82	3.16	0.29	0.27	10.86
Other Non-Operating Income	-13	-898.4	-701.8	-454.09	-489.36
EBT Excluding Unusual Items	26,826	18,509	13,283	2,725	1,276
Total Insurance Settlements	-	0.19	-	2.25	34.14
Asset Writedown	-	-449.67	-159.61	-57.81	-16.68
Other Unusual Items	320	213.97	11.86	3.53	4.23
Pretax Income	27,146	18,273	13,135	2,673	1,298
Income Tax Expense	1	1.21	1.21	1.21	1.21
Net Income	27,145	18,272	13,134	2,672	1,297
Net Income to Common	27,145	18,272	13,134	2,672	1,297
Net Income Growth	48.56%	39.12%	391.59%	106.03%	-15.08%
Basic Shares Outstanding	5	5	5	4	4
Diluted Shares Outstanding	5	5	5	4	4
Shares Change (YoY)	4.77%	7.77%	1.06%	0.02%	0.08%
EPS (Basic)	5325.68	3755.72	2909.31	598.11	290.37
EPS (Diluted)	5325.68	3755.72	2909.31	598.11	290.37
EPS Growth	41.80%	29.09%	386.42%	105.98%	-15.15%
Dividend Per Share	-	3937.000	3015.000	682.000	366.000
Dividend Growth	-	30.58%	342.08%	86.34%	-10.73%
Operating Margin	68.15%	62.77%	57.07%	29.20%	21.98%
Profit Margin	59.58%	54.57%	49.42%	17.92%	9.51%
EBITDA	37,852	26,635	20,249	9,142	7,801
EBITDA Margin	83.07%	79.55%	76.20%	61.30%	57.22%
D&A For Ebitda	6,799	5,618	5,083	4,788	4,804
EBIT	31,053	21,017	15,166	4,354	2,997
EBIT Margin	68.15%	62.77%	57.07%	29.20%	21.98%
Effective Tax Rate	0.00%	0.01%	0.01%	0.04%	0.09%
Revenue as Reported	-	33,481	26,575	14,913	13,634

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