Forval Telecom,Inc. Income Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Revenue	24,394	25,684	23,115	24,748	21,801	21,729
Revenue Growth (YoY)	-2.02%	11.11%	-6.60%	13.52%	0.33%	2.11%
Cost of Revenue	18,686	19,649	17,338	19,498	15,854	16,004
Gross Profit	5,708	6,035	5,777	5,250	5,947	5,725
Selling, General & Admin	4,267	4,705	4,565	4,535	4,724	4,710
Amortization of Goodwill & Intangibles	59	59	74	60	67	60
Operating Expenses	4,455	4,893	4,665	4,661	4,939	5,097
Operating Income	1,253	1,142	1,112	589	1,008	628
Interest Expense	-4	-9	-13	-16	-22	-29
Other Non Operating Income (Expenses)	13	19	-2	68	15	53
EBT Excluding Unusual Items	1,262	1,152	1,097	641	1,001	652
Gain (Loss) on Sale of Investments	58	-	-	-	-	-
Asset Writedown	-2	-	-2	-	-1	-6
Other Unusual Items	-	-	71	-	354	-
Pretax Income	1,318	1,152	1,166	641	1,354	646
Income Tax Expense	382	421	416	263	480	190
Earnings From Continuing Operations	936	731	750	378	874	456
Minority Interest in Earnings	1	1	-	-	-6	-
Net Income	937	732	750	378	868	456
Net Income to Common	937	732	750	378	868	456
Net Income Growth	22.80%	-2.40%	98.41%	-56.45%	90.35%	-
Shares Outstanding (Basic)	17	17	17	17	17	17
Shares Outstanding (Diluted)	17	17	17	17	17	17
Shares Change (YoY)	-	-0.00%	0.09%	0.29%	-	-
EPS (Basic)	55.92	43.69	44.76	22.58	52.00	27.32
EPS (Diluted)	55.92	43.69	44.76	22.58	52.00	27.32
EPS Growth	22.80%	-2.40%	98.24%	-56.58%	90.35%	-
Free Cash Flow	-	1,901	1,528	845	1,639	1,204
Free Cash Flow Per Share	-	113.45	91.19	50.47	98.18	72.13
Dividend Per Share	12.000	20.000	18.000	17.000	17.000	17.000
Dividend Growth	-36.84%	11.11%	5.88%	-	-	-
Gross Margin	23.40%	23.50%	24.99%	21.21%	27.28%	26.35%
Operating Margin	5.14%	4.45%	4.81%	2.38%	4.62%	2.89%
Profit Margin	3.84%	2.85%	3.25%	1.53%	3.98%	2.10%
Free Cash Flow Margin	-	7.40%	6.61%	3.41%	7.52%	5.54%
EBITDA	1,661	1,566	1,557	906	1,290	880
EBITDA Margin	6.81%	6.10%	6.74%	3.66%	5.92%	4.05%
D&A For EBITDA	408.25	424	445	317	282	252
EBIT	1,253	1,142	1,112	589	1,008	628
EBIT Margin	5.14%	4.45%	4.81%	2.38%	4.62%	2.89%
Effective Tax Rate	28.98%	36.55%	35.68%	41.03%	35.45%	29.41%
Advertising Expenses	-	28	73	21	22	18

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