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	2016 - 2020
Period Ending	Sep '25 Sep 30, 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	2016 - 2020
Revenue	164,080	154,066	146,641	147,157	148,038	146,994	Upgrade
Revenue Growth (YoY)	10.15%	5.06%	-0.35%	-0.60%	0.71%	4.23%	Upgrade
Cost of Revenue	92,130	86,675	83,814	84,157	86,900	87,094	Upgrade
Gross Profit	71,950	67,391	62,827	63,000	61,138	59,900	Upgrade
Selling, General & Admin	56,348	51,940	48,351	47,749	47,047	46,922	Upgrade
Operating Expenses	56,342	51,940	48,351	47,749	47,047	46,913	Upgrade
Operating Income	15,608	15,451	14,476	15,251	14,091	12,987	Upgrade
Interest Expense	-79	-23	-7	-5	-9	-11	Upgrade
Interest & Investment Income	392	338	286	238	228	48	Upgrade
Earnings From Equity Investments	71	82	43	31	25	66	Upgrade
Other Non Operating Income (Expenses)	1,054	989	1,165	791	677	940	Upgrade
EBT Excluding Unusual Items	17,046	16,837	15,963	16,306	15,012	14,030	Upgrade
Gain (Loss) on Sale of Investments	92	64	9	-	-34	-54	Upgrade
Gain (Loss) on Sale of Assets	128	85	8	10	8	2	Upgrade
Asset Writedown	-551	-543	-964	-812	-672	-1,115	Upgrade
Legal Settlements	-	-	-	-	-	-150	Upgrade
Other Unusual Items	-	-1	1	-19	-172	-6	Upgrade
Pretax Income	16,715	16,442	15,017	15,485	14,142	12,707	Upgrade
Income Tax Expense	5,104	5,182	4,751	4,819	4,483	4,161	Upgrade
Earnings From Continuing Operations	11,611	11,260	10,266	10,666	9,659	8,546	Upgrade
Minority Interest in Earnings	-	-	-7	-1	-	-	Upgrade
Net Income	11,611	11,260	10,259	10,665	9,659	8,546	Upgrade
Net Income to Common	11,611	11,260	10,259	10,665	9,659	8,546	Upgrade
Net Income Growth	14.27%	9.76%	-3.81%	10.42%	13.02%	16.53%	Upgrade
Shares Outstanding (Basic)	89	91	92	92	92	92	Upgrade
Shares Outstanding (Diluted)	89	91	93	93	93	93	Upgrade
Shares Change (YoY)	-3.98%	-1.40%	0.04%	0.05%	0.04%	0.08%	Upgrade
EPS (Basic)	130.79	123.54	111.01	115.48	104.66	92.64	Upgrade
EPS (Diluted)	130.32	123.11	110.59	115.02	104.22	92.25	Upgrade
EPS Growth	19.00%	11.32%	-3.85%	10.35%	12.98%	16.43%	Upgrade
Free Cash Flow	-893	4,185	390	391	1,042	9,882	Upgrade
Free Cash Flow Per Share	-10.02	45.75	4.20	4.22	11.24	106.67	Upgrade
Dividend Per Share	61.500	50.000	33.000	31.000	29.000	27.000	Upgrade
Dividend Growth	80.88%	51.52%	6.45%	6.90%	7.41%	17.39%	Upgrade
Gross Margin	43.85%	43.74%	42.84%	42.81%	41.30%	40.75%	Upgrade
Operating Margin	9.51%	10.03%	9.87%	10.36%	9.52%	8.83%	Upgrade
Profit Margin	7.08%	7.31%	7.00%	7.25%	6.53%	5.81%	Upgrade
Free Cash Flow Margin	-0.54%	2.72%	0.27%	0.27%	0.70%	6.72%	Upgrade
EBITDA	18,987	18,546	17,291	17,670	16,342	15,140	Upgrade
EBITDA Margin	11.57%	12.04%	11.79%	12.01%	11.04%	10.30%	Upgrade
D&A For EBITDA	3,379	3,095	2,815	2,419	2,251	2,153	Upgrade
EBIT	15,608	15,451	14,476	15,251	14,091	12,987	Upgrade
EBIT Margin	9.51%	10.03%	9.87%	10.36%	9.52%	8.83%	Upgrade
Effective Tax Rate	30.54%	31.52%	31.64%	31.12%	31.70%	32.75%	Upgrade
Advertising Expenses	-	4,904	4,704	4,634	5,014	5,412	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.