Japan Excellent 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	19,777	21,646	18,574	18,838	20,512
Gain (Loss) on Sale of Assets (Rev)	1,326	2,417	4,381	1,328	-
Other Revenue	1,805	149	1,607	1,571	722.08
Total Revenue	22,908	24,212	24,563	21,737	21,234
Revenue Growth (YoY	-5.39%	-1.43%	13.00%	2.37%	-10.64%
Property Expenses	12,350	12,908	12,494	12,600	11,852
Selling, General & Administrative	90.92	134	90.23	91.75	112.01
Other Operating Expenses	241.67	236	249.82	229.33	192.79
Total Operating Expenses	12,682	13,278	12,834	12,921	12,157
Operating Income	10,225	10,934	11,729	8,816	9,077
Interest Expense	-1,619	-1,352	-1,202	-1,232	-1,244
Interest & Investment Income	239.81	1	118.22	28.42	0.18
Other Non-Operating Income	7.99	-27	-8.68	-6.77	-9.55
EBT Excluding Unusual Items	8,854	9,556	10,637	7,606	7,823
Gain (Loss) on Sale of Assets	-49.24	-1,614	-2,704	-	-
Pretax Income	8,805	7,942	7,933	7,606	7,823
Income Tax Expense	1.89	-	1.81	1.66	1.12
Net Income	8,803	7,942	7,931	7,604	7,822
Net Income to Common	8,803	7,942	7,931	7,604	7,822
Net Income Growth	10.84%	0.14%	4.30%	-2.78%	-21.17%
Basic Shares Outstanding	1	1	1	1	1
Diluted Shares Outstanding	1	1	1	1	1
Shares Change (YoY)	-1.33%	-0.90%	-0.23%	-0.91%	-
EPS (Basic)	6730.83	5991.70	5929.40	5671.42	5780.96
EPS (Diluted)	6730.83	5991.70	5929.40	5671.42	5780.96
EPS Growth	12.34%	1.05%	4.55%	-1.90%	-21.17%
Dividend Per Share	6142.000	-	5600.000	5600.000	-
Operating Margin	44.64%	45.16%	47.75%	40.56%	42.75%
Profit Margin	38.43%	32.80%	32.29%	34.98%	36.84%
EBITDA	13,777	14,677	15,472	12,687	12,830
EBITDA Margin	60.14%	60.62%	62.99%	58.37%	60.42%
D&A For Ebitda	3,551	3,743	3,743	3,871	3,754
EBIT	10,225	10,934	11,729	8,816	9,077
EBIT Margin	44.64%	45.16%	47.75%	40.56%	42.75%
Funds From Operations (FFO)	11,076	-	-	-	-
Adjusted Funds From Operations (AFFO)	8,080	-	-	-	-
FFO Payout Ratio	69.23%	-	-	-	-
Effective Tax Rate	0.02%	-	0.02%	0.02%	0.01%
Revenue as Reported	23,120	-	24,681	21,765	10,568

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