Heiwa Paper 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	15,672	16,032	16,124	16,068	15,619	14,611
Revenue Growth (YoY)	-3.09%	-0.57%	0.35%	2.88%	6.90%	-20.43%
Cost of Revenue	12,421	12,758	12,836	12,835	12,696	11,977
Gross Profit	3,251	3,274	3,288	3,233	2,923	2,634
Selling, General & Admin	3,012	2,971	3,017	2,994	2,662	2,522
Operating Expenses	3,172	3,131	3,130	3,095	2,761	2,625
Operating Income	79	143	158	138	162	9
Interest Expense	-24	-25	-20	-14	-6	-7
Interest & Investment Income	96	87	76	78	77	67
Currency Exchange Gain (Loss)	1	-	1	-1	-5	-2
Other Non Operating Income (Expenses)	6	1	6	-10	-96	-89
EBT Excluding Unusual Items	158	206	221	191	132	-22
Gain (Loss) on Sale of Investments	-	-	-	-43	15	2
Gain (Loss) on Sale of Assets	-3	-9	-1	1,131	-	-3
Other Unusual Items	-3	-5	-	-	-	-1
Pretax Income	152	192	220	1,279	147	-24
Income Tax Expense	75	75	84	405	60	10
Net Income	77	117	136	874	87	-34
Net Income to Common	77	117	136	874	87	-34
Net Income Growth	-33.04%	-13.97%	-84.44%	904.60%	-	-
Shares Outstanding (Basic)	9	9	9	10	10	10
Shares Outstanding (Diluted)	9	9	9	10	10	10
Shares Change (YoY)	-0.29%	-	-1.20%	-0.71%	-	-0.00%
EPS (Basic)	8.16	12.37	14.38	91.29	9.02	-3.53
EPS (Diluted)	8.16	12.37	14.38	91.29	9.02	-3.53
EPS Growth	-32.85%	-13.97%	-84.25%	911.81%	-	-
Free Cash Flow	-	-265	95	-1,135	227	263
Free Cash Flow Per Share	-	-28.01	10.04	-118.55	23.54	27.27
Dividend Per Share	6.000	12.000	12.000	11.000	10.000	5.000
Dividend Growth	-50.00%	-	9.09%	10.00%	100.00%	-50.00%
Gross Margin	20.74%	20.42%	20.39%	20.12%	18.71%	18.03%
Operating Margin	0.50%	0.89%	0.98%	0.86%	1.04%	0.06%
Profit Margin	0.49%	0.73%	0.84%	5.44%	0.56%	-0.23%
Free Cash Flow Margin	-	-1.65%	0.59%	-7.06%	1.45%	1.80%
EBITDA	280.25	309	277	245	263	114
EBITDA Margin	1.79%	1.93%	1.72%	1.52%	1.68%	0.78%
D&A For EBITDA	201.25	166	119	107	101	105
EBIT	79	143	158	138	162	9
EBIT Margin	0.50%	0.89%	0.98%	0.86%	1.04%	0.06%
Effective Tax Rate	49.34%	39.06%	38.18%	31.66%	40.82%	-

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