Central Forest Group Income Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	362,176	348,074	328,838	312,649	298,237	284,793
Revenue Growth (YoY)	5.79%	5.85%	5.18%	4.83%	4.72%	19.67%
Cost of Revenue	327,858	314,820	297,679	283,597	270,966	259,932
Gross Profit	34,318	33,254	31,159	29,052	27,271	24,861
Selling, General & Admin	31,453	30,437	28,630	27,429	26,116	24,012
Operating Expenses	31,455	30,437	28,630	27,429	26,116	24,012
Operating Income	2,863	2,817	2,529	1,623	1,155	849
Interest Expense	-8	-7	-7	-8	-9	-6
Interest & Investment Income	205	181	151	140	140	136
Other Non Operating Income (Expenses)	163	154	138	161	165	159
EBT Excluding Unusual Items	3,223	3,145	2,811	1,916	1,451	1,138
Gain (Loss) on Sale of Investments	-	45	34	28	214	75
Gain (Loss) on Sale of Assets	122	-	-	18	100	13
Asset Writedown	-	-	-10	-13	-184	-241
Other Unusual Items	191	-	-	-41	14	1
Pretax Income	3,536	3,190	2,835	1,908	1,595	986
Income Tax Expense	1,054	940	876	640	543	337
Earnings From Continuing Operations	2,482	2,250	1,959	1,268	1,052	649
Net Income	2,482	2,250	1,959	1,268	1,052	649
Net Income to Common	2,482	2,250	1,959	1,268	1,052	649
Net Income Growth	18.53%	14.85%	54.50%	20.53%	62.10%	-57.81%
Shares Outstanding (Basic)	8	9	9	9	9	9
Shares Outstanding (Diluted)	8	9	9	9	9	9
Shares Change (YoY)	-3.36%	-0.65%	-2.15%	-	-	17.64%
EPS (Basic)	300.45	263.59	228.00	144.40	119.80	73.91
EPS (Diluted)	300.45	263.59	228.00	144.40	119.80	73.91
EPS Growth	22.65%	15.61%	57.89%	20.53%	62.10%	-64.14%
Free Cash Flow	-	2,191	1,802	1,015	2,654	1,724
Free Cash Flow Per Share	-	256.68	209.73	115.59	302.24	196.33
Dividend Per Share	60.000	55.000	43.000	34.000	30.000	30.000
Dividend Growth	20.00%	27.91%	26.47%	13.33%	-	-
Gross Margin	9.48%	9.55%	9.47%	9.29%	9.14%	8.73%
Operating Margin	0.79%	0.81%	0.77%	0.52%	0.39%	0.30%
Profit Margin	0.69%	0.65%	0.60%	0.41%	0.35%	0.23%
Free Cash Flow Margin	-	0.63%	0.55%	0.33%	0.89%	0.60%
EBITDA	3,602	3,544	3,240	2,248	1,734	1,311
EBITDA Margin	1.00%	1.02%	0.98%	0.72%	0.58%	0.46%
D&A For EBITDA	739	727	711	625	579	462
EBIT	2,863	2,817	2,529	1,623	1,155	849
EBIT Margin	0.79%	0.81%	0.77%	0.52%	0.39%	0.30%
Effective Tax Rate	29.81%	29.47%	30.90%	33.54%	34.04%	34.18%

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