Yellow Hat 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	167,270	154,066	146,641	147,157	148,038	146,994
Revenue Growth (YoY)	9.88%	5.06%	-0.35%	-0.60%	0.71%	4.23%
Cost of Revenue	94,009	86,675	83,814	84,157	86,900	87,094
Gross Profit	73,261	67,391	62,827	63,000	61,138	59,900
Selling, General & Admin	58,214	51,940	48,351	47,749	47,047	46,922
Operating Expenses	58,214	51,940	48,351	47,749	47,047	46,913
Operating Income	15,047	15,451	14,476	15,251	14,091	12,987
Interest Expense	-145	-23	-7	-5	-9	-11
Interest & Investment Income	417	338	286	238	228	48
Earnings From Equity Investments	70	82	43	31	25	66
Other Non Operating Income (Expenses)	1,196	989	1,165	791	677	940
EBT Excluding Unusual Items	16,585	16,837	15,963	16,306	15,012	14,030
Gain (Loss) on Sale of Investments	1,004	64	9	-	-34	-54
Gain (Loss) on Sale of Assets	61	85	8	10	8	2
Asset Writedown	-567	-543	-964	-812	-672	-1,115
Legal Settlements	-	-	-	-	-	-150
Other Unusual Items	126	-1	1	-19	-172	-6
Pretax Income	17,209	16,442	15,017	15,485	14,142	12,707
Income Tax Expense	5,208	5,182	4,751	4,819	4,483	4,161
Earnings From Continuing Operations	12,001	11,260	10,266	10,666	9,659	8,546
Minority Interest in Earnings	-	-	-7	-1	-	-
Net Income	12,001	11,260	10,259	10,665	9,659	8,546
Net Income to Common	12,001	11,260	10,259	10,665	9,659	8,546
Net Income Growth	9.00%	9.76%	-3.81%	10.42%	13.02%	16.53%
Shares Outstanding (Basic)	86	91	92	92	92	92
Shares Outstanding (Diluted)	86	91	93	93	93	93
Shares Change (YoY)	-7.03%	-1.40%	0.04%	0.05%	0.04%	0.08%
EPS (Basic)	136.94	123.54	111.01	115.48	104.66	92.64
EPS (Diluted)	136.46	123.11	110.59	115.02	104.22	92.25
EPS Growth	14.49%	11.32%	-3.85%	10.35%	12.98%	16.43%
Free Cash Flow	-	4,185	390	391	1,042	9,882
Free Cash Flow Per Share	-	45.75	4.20	4.22	11.24	106.67
Dividend Per Share	61.500	50.000	33.000	31.000	29.000	27.000
Dividend Growth	80.88%	51.52%	6.45%	6.90%	7.41%	17.39%
Gross Margin	-	43.74%	42.84%	42.81%	41.30%	40.75%
Operating Margin	9.00%	10.03%	9.87%	10.36%	9.52%	8.83%
Profit Margin	7.17%	7.31%	7.00%	7.25%	6.53%	5.81%
Free Cash Flow Margin	-	2.72%	0.27%	0.27%	0.70%	6.72%
EBITDA	18,352	18,546	17,291	17,670	16,342	15,140
EBITDA Margin	-	12.04%	11.79%	12.01%	11.04%	10.30%
D&A For EBITDA	3,305	3,095	2,815	2,419	2,251	2,153
EBIT	15,047	15,451	14,476	15,251	14,091	12,987
EBIT Margin	-	10.03%	9.87%	10.36%	9.52%	8.83%
Effective Tax Rate	-	31.52%	31.64%	31.12%	31.70%	32.75%
Advertising Expenses	-	4,904	4,704	4,634	5,014	5,412

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