Nareru Group Income Statement

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

Millions JPY. Fiscal year is Nov - Oct.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '25 Oct 31, 2025	Oct '24 Oct 31, 2024	Oct '23 Oct 31, 2023	Oct '22 Oct 31, 2022	Oct '21 Oct 31, 2021
Revenue	24,158	21,608	17,994	14,540	12,125
Revenue Growth (YoY)	11.80%	20.08%	23.76%	19.92%	-
Cost of Revenue	17,921	15,669	12,825	10,310	8,800
Gross Profit	6,237	5,939	5,169	4,230	3,325
Selling, General & Admin	3,084	2,584	2,466	2,225	1,910
Other Operating Expenses	2	-9	3	-35	-344
Operating Expenses	3,371	2,836	2,713	2,190	1,566
Operating Income	2,866	3,103	2,456	2,040	1,759
Interest Expense	-73	-50	-48	-187	-164
Interest & Investment Income	6	-	-	-	-
Other Non Operating Income (Expenses)	2	5	74	-2	-2
EBT Excluding Unusual Items	2,801	3,058	2,482	1,851	1,593
Gain (Loss) on Sale of Assets	-6	-	-7	-	-
Asset Writedown	-38	-	-	-	-
Pretax Income	2,757	3,058	2,475	1,851	1,593
Income Tax Expense	671	871	734	609	550
Net Income	2,086	2,187	1,741	1,242	1,043
Net Income to Common	2,086	2,187	1,741	1,242	1,043
Net Income Growth	-4.62%	25.62%	40.18%	19.08%	-
Shares Outstanding (Basic)	9	9	8	8	8
Shares Outstanding (Diluted)	9	9	9	8	8
Shares Change (YoY)	0.56%	2.11%	3.63%	0.48%	-
EPS (Basic)	238.63	255.06	209.84	150.50	126.99
EPS (Diluted)	237.54	250.54	203.61	150.50	126.99
EPS Growth	-5.19%	23.05%	35.29%	18.51%	-
Free Cash Flow	2,241	2,296	2,270	-	-
Free Cash Flow Per Share	255.19	262.92	265.43	-	-
Dividend Per Share	-	110.000	95.000	-	-
Dividend Growth	-	15.79%	-	-	-
Gross Margin	25.82%	27.48%	28.73%	29.09%	27.42%
Operating Margin	11.86%	14.36%	13.65%	14.03%	14.51%
Profit Margin	8.63%	10.12%	9.68%	8.54%	8.60%
Free Cash Flow Margin	9.28%	10.63%	12.62%	-	-
EBITDA	3,151	3,364	2,700	-	-
EBITDA Margin	13.04%	15.57%	15.00%	-	-
D&A For EBITDA	285	261	244	-	-
EBIT	2,866	3,103	2,456	2,040	1,759
EBIT Margin	11.86%	14.36%	13.65%	14.03%	14.51%
Effective Tax Rate	24.34%	28.48%	29.66%	32.90%	34.53%

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