Heiwa Paper Income Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Revenue	15,796	16,032	16,124	16,068	15,619
Revenue Growth (YoY)	-1.47%	-0.57%	0.35%	2.88%	6.90%
Cost of Revenue	12,510	12,758	12,836	12,835	12,696
Gross Profit	3,286	3,274	3,288	3,233	2,923
Selling, General & Admin	3,187	2,971	3,017	2,994	2,662
Operating Expenses	3,187	3,131	3,130	3,095	2,761
Operating Income	99	143	158	138	162
Interest Expense	-24	-25	-20	-14	-6
Interest & Investment Income	96	87	76	78	77
Currency Exchange Gain (Loss)	3	-	1	-1	-5
Other Non Operating Income (Expenses)	-29	1	6	-10	-96
EBT Excluding Unusual Items	145	206	221	191	132
Gain (Loss) on Sale of Investments	-	-	-	-43	15
Gain (Loss) on Sale of Assets	-1	-9	-1	1,131	-
Other Unusual Items	-4	-5	-	-	-
Pretax Income	140	192	220	1,279	147
Income Tax Expense	62	75	84	405	60
Net Income	78	117	136	874	87
Net Income to Common	78	117	136	874	87
Net Income Growth	-33.33%	-13.97%	-84.44%	904.60%	-
Shares Outstanding (Basic)	9	9	9	10	10
Shares Outstanding (Diluted)	9	9	9	10	10
Shares Change (YoY)	-0.83%	-	-1.20%	-0.71%	-
EPS (Basic)	8.31	12.37	14.38	91.29	9.02
EPS (Diluted)	8.31	12.37	14.38	91.29	9.02
EPS Growth	-32.77%	-13.97%	-84.25%	911.81%	-
Free Cash Flow	533	-265	95	-1,135	227
Free Cash Flow Per Share	56.82	-28.01	10.04	-118.55	23.54
Dividend Per Share	-	12.000	12.000	11.000	10.000
Dividend Growth	-	-	9.09%	10.00%	100.00%
Gross Margin	20.80%	20.42%	20.39%	20.12%	18.71%
Operating Margin	0.63%	0.89%	0.98%	0.86%	1.04%
Profit Margin	0.49%	0.73%	0.84%	5.44%	0.56%
Free Cash Flow Margin	3.37%	-1.65%	0.59%	-7.06%	1.45%
EBITDA	295	309	277	245	263
EBITDA Margin	1.87%	1.93%	1.72%	1.52%	1.68%
D&A For EBITDA	196	166	119	107	101
EBIT	99	143	158	138	162
EBIT Margin	0.63%	0.89%	0.98%	0.86%	1.04%
Effective Tax Rate	44.29%	39.06%	38.18%	31.66%	40.82%

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