f-code 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 2019
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '19 Dec 31, 2019
Revenue	11,938	5,130	2,482	459
Revenue Growth (YoY)	132.71%	106.69%	440.74%	-
Cost of Revenue	4,813	2,289	1,012	176
Gross Profit	7,125	2,841	1,470	283
Selling, General & Admin	5,223	1,603	759	343
Other Operating Expenses	-442.12	-719	-6	-
Operating Expenses	4,781	973	818	343
Operating Income	2,344	1,868	652	-60
Interest Expense	-253.14	-106	-41	-3
Interest & Investment Income	24.28	2	1	-
Currency Exchange Gain (Loss)	-	2	1	-
Other Non Operating Income (Expenses)	-0	-9	-2	-2
EBT Excluding Unusual Items	2,115	1,757	611	-65
Gain (Loss) on Sale of Investments	-	-	-	24
Gain (Loss) on Sale of Assets	-	184	-	-
Asset Writedown	-	-620	-	-
Pretax Income	2,115	1,321	611	-41
Income Tax Expense	609.74	388	127	-
Earnings From Continuing Operations	1,505	933	484	-41
Minority Interest in Earnings	-53.83	-28	-	-
Net Income	1,452	905	484	-41
Net Income to Common	1,452	905	484	-41
Net Income Growth	60.41%	86.98%	-	-
Shares Outstanding (Basic)	12	12	10	8
Shares Outstanding (Diluted)	13	13	11	8
Shares Change (YoY)	4.91%	16.55%	43.28%	-
EPS (Basic)	118.59	77.88	46.89	-5.44
EPS (Diluted)	109.91	71.94	44.88	-5.44
EPS Growth	52.78%	60.28%	-	-
Free Cash Flow	1,334	911	860	-
Free Cash Flow Per Share	100.98	72.36	79.61	-
Gross Margin	59.69%	55.38%	59.23%	61.66%
Operating Margin	19.64%	36.41%	26.27%	-13.07%
Profit Margin	12.16%	17.64%	19.50%	-8.93%
Free Cash Flow Margin	11.17%	17.76%	34.65%	-
EBITDA	2,555	1,957	717	-
EBITDA Margin	21.40%	38.15%	28.89%	-
D&A For EBITDA	211.17	89	65	-
EBIT	2,344	1,868	652	-60
EBIT Margin	19.64%	36.41%	26.27%	-13.07%
Effective Tax Rate	28.83%	29.37%	20.79%	-
Advertising Expenses	-	161	72	-

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