KOBE, Japa , Ju e 30, 2026 (GLOBE NEWSWIRE) — Micwa e Co., Ltd. (Nasdaq: MWC) (the “Compa y” o “Micwa e”), a Japa -based p ovide of softwa e developme t se vices a d i ovative IT solutio s mai ly focused o the automotive a d mobility secto s, today a ou ced its fi a cial esults fo the fiscal yea e ded Feb ua y 28, 2026.
- Reve ue was JPY21.9 billio (US$140.3 millio ) i fiscal yea 2026, a i c ease of 3.7% f om JPY21.1 billio i fiscal yea 2025.
- G oss p ofit was JPY8.0 billio (US$51.6 millio ) i fiscal yea 2026, a i c ease of 8.9% f om JPY7.4 billio i fiscal yea 2025.
- G oss p ofit ma gi was 36.8% i fiscal yea 2026, which i c eased f om 35.0% i fiscal yea 2025.
- Ope ati g p ofit was JPY2.4 billio (US$15.1 millio ) i fiscal yea 2026, a i c ease of 9.4% f om JPY2.2 billio i fiscal yea 2025.
- Net i come was JPY1.6 billio (US$10.4 millio ) i fiscal yea 2026, a i c ease of 19.6% f om JPY1.4 billio i fiscal yea 2025.
- Net i come att ibutable to the Compa y’s o di a y sha eholde s was JPY1.6 billio (US$10.3 millio ) i fiscal yea 2026, a i c ease of 20.4% f om JPY1.3 billio i fiscal yea 2025.
- Adjusted ope ati g p ofit was JPY2.4 billio (US$15.6 millio ) i fiscal yea 2026, a i c ease of 5.1% f om JPY2.3 billio i fiscal yea 2025.
- Basic a d diluted ea i gs pe sha e we e JPY28.58 (US$0.18) i fiscal yea 2026, compa ed to JPY25.49 i fiscal yea 2025.
M . Ke ji Na ushima, Chief Executive Office a d Chai ma of Micwa e, ema ked, “We a e pleased to epo t st o g fi a cial esults fo fiscal yea 2026, highlighted by steady eve ue g owth a d imp oved p ofitability. Ou eve ue i c eased by 3.7% yea ove yea , while et i come ose by 19.6%. These esults u de sco e ou ability to execute ac oss co e automotive softwa e busi ess, suppo ted by discipli ed cost ma ageme t a d ope atio al excelle ce.
“Beyo d ou fi a cial esults, the completio of ou i itial public offe i g was a defi i g milesto e fo Micwa e. O May 14, 2026, we comme ced t adi g o the Nasdaq Global Ma ket u de the ticke symbol ‘MWC.’ This achieveme t is the esult of yea s of dedicatio by ou employees, as well as the co ti ued t ust a d suppo t of ou custome s, pa t e s, a d all those who have suppo ted Micwa e alo g the way. We view the listi g ot as a desti atio , but as a ew begi i g, o e that we believe p ovides us with g eate visibility a d esou ces as we co ti ue to pu sue ou lo g-te m visio .”
M . Na ushima co ti ued, “Looki g ahead, we i te d to g ow ou busi ess th ough two st ategic p io ities. We pla to evolve f om a i -vehicle i fotai me t (“IVI”) Tie 1 softwa e supplie to a Softwa e Defi ed Vehicle (“SDV”) Tie 1 softwa e supplie , suppo ted by co ti ued i vestme t i ou p op ieta y IVI softwa e platfo m, micAuto-PF, which we believe will st e gthe ou co e automotive softwa e capabilities a d suppo t ou t a sitio towa d SDV- elated solutio s. I pa allel, we a e co ti ui g to i vest i lo g-te m, multi-yea tech ology developme t, with a pa ticula focus o esea ch a d developme t activities elated to Dy amic St eet Map & Ma ket Place (“DSMM”). Effective July 1, 2026, the ame of DSMM p oject will be cha ged to “Dy aPla et.” We believe the comme cializatio of Dy aPla et, a ticipated i fiscal yea 2027, will expa d ou add essable ma ket, dive sify ou eve ue base, a d st e gthe ou competitive positio . Th ough these i itiatives, we seek to suppo t the ext stage of Micwa e’s g owth by b oade i g ou tech ology capabilities, dive sifyi g ou eve ue st eams, a d delive i g lo g-te m value to ou custome s a d sha eholde s.”
Reve ue was JPY21.9 billio (US$140.3 millio ) i fiscal yea 2026, a i c ease of 3.7% f om JPY21.1 billio i fiscal yea 2025.
- Reve ue f om softwa e developme t se vices was JPY17.5 billio (US$112.3 millio ) i fiscal yea 2026, a i c ease of 2.0% f om JPY17.2 billio i fiscal yea 2025. This i c ease was p ima ily att ibutable to: (i) a JPY417.7 millio i c ease i sales i the SDV segme t, d ive mai ly by a i c ease i eve ue f om o e of the Compa y’s existi g elated pa ty custome s as developme t activities shifted f om the p evious vehicle model developme t p oject to its successo vehicle model developme t p oject, which was pa tially offset by a dec ease i eve ue f om the p evious vehicle model developme t p oject as it moved i to late -stage activities, a d (ii) a JPY89.8 millio i c ease i sales i the Locatio -Based Se vices (“LBS”) segme t, mai ly due to a JPY568.3 millio i c ease i sales att ibutable to highe sales to a existi g elated pa ty custome , fo co ected mobility se vices li ki g vehicles a d sma tpho es as well as a JPY89.4 millio i c ease att ibutable to p og ess i a ext-ge e atio developme t p oject fo a existi g O igi al Equipme t Ma ufactu e (“OEM”) custome outside of fou -wheeled vehicle applicatio s, pa tially offset by a JPY566.9 millio dec ease p ima ily due to ce tai custome p ojects eachi g completio o t a sitio i g f om mai developme t phases to followi g phase, such as ve sio upg ade a d evaluatio suppo t activities. These i c eases we e pa tially offset by (iii) a JPY164.1 millio dec ease i sales i the othe segme t, mai ly due to a JPY210.8 millio i c ease i i te segme t elimi atio s esulti g f om highe i te compa y t a sactio s associated with eve ue g owth i the SDV a d LBS segme ts, pa tially offset by a et JPY43.3 millio i c ease i eve ue f om the Compa y’s ove seas subsidia ies.
- Reve ue f om lice si g was JPY3.23 billio (US$20.7 millio ) i fiscal yea 2026, a i c ease of 1.7% f om JPY3.18 billio i fiscal yea 2025. This i c ease was p ima ily att ibutable to a JPY209.3 millio i c ease i the LBS segme t, d ive mai ly by highe lice se fee eve ue f om multiple OEM custome s, ewly lau ched models fo existi g custome s a d the acquisitio of a ew custome , pa tially offset by lowe lice se fees fo multiple OEM vehicle models that had bee i the ma ket fo a lo ge pe iod. This i c ease was also pa tially offset by a JPY155.5 millio dec ease i sales i the SDV segme t, p ima ily due to lowe eve ue f om co ected se vices fo a elated pa ty custome .
- Reve ue f om softwa e- elated se vices was JPY1.1 billio (US$7.3 millio ) i fiscal yea 2026, a i c ease of 49.5% f om JPY0.8 billio i fiscal yea 2025. The i c ease was p ima ily due to a JPY367.2 millio i c ease i sales i the SDV segme t, i cludi g JPY245.1 millio i eve ue co t ibutio s f om the busi ess acqui ed th ough busi ess combi atio s du i g the cu e t pe iod as well as JPY181.2 millio i eve ue f om ad hoc developme t p ojects fo o -OEM custome s, pa tially offset by a JPY110.6 millio dec ease i sales i the SDV segme t mai ly due to the completio of tech ical suppo t se vices fo a existi g custome .
Cost of eve ue was JPY13.8 billio (US$88.7 millio ) i fiscal yea 2026, a i c ease of 0.8% f om JPY13.7 billio i fiscal yea 2025. The i c ease was p ima ily due to the i c eases i pe so el costs a d outsou ci g costs associated with the expa sio of ce tai SDV- a d LBS- elated developme t activities.
G oss p ofit was JPY8.0 billio (US$51.6 millio ) i fiscal yea 2026, a i c ease of 8.9% f om JPY7.4 billio i fiscal yea 2025.
G oss p ofit ma gi was 36.8% i fiscal yea 2026, a i c ease f om 35.0% i fiscal yea 2025.
Total ope ati g expe ses we e JPY5.7 billio (US$36.4 millio ) i fiscal yea 2026, a i c ease of 8.7% f om JPY5.2 billio i fiscal yea 2025.
- Sales, ge e al, a d admi ist ative expe ses we e JPY4.1 billio (US$26.6 millio ) i fiscal yea 2026, a dec ease of 0.5% f om JPY4.2 billio i fiscal yea 2025. The dec ease was p ima ily att ibutable to a JPY94.3 millio dec ease i p ofessio al fees a d lice se fees o a combi ed basis a d a JPY47.8 millio dec ease i pe so el expe ses, pa tially offset by a i c ease of JPY71.9 millio i adve tisi g expe ses. The emai i g et cha ge was p ima ily att ibutable to i c eases of JPY28.2 millio i t avel expe ses a d JPY25.2 millio i o -i come tax expe ses.
- Resea ch a d developme t expe ses we e JPY1.5 billio (US$9.8 millio ) i fiscal yea 2026, a i c ease of 45.3% f om JPY1.1 billio i fiscal yea 2025. This i c ease was p ima ily att ibutable to i c eased expe ditu es elated to the Dy aPla et p oject.
Ope ati g p ofit was JPY2.4 billio (US$15.1 millio ) i fiscal yea 2026, a i c ease of 9.4% f om JPY2.2 billio i fiscal yea 2025.
Net i come was JPY1.6 billio (US$10.4 millio ) i fiscal yea 2026, a i c ease of 19.6% f om JPY1.4 billio i fiscal yea 2025.
Net i come att ibutable to the Compa y’s o di a y sha eholde s was JPY1.6 billio (US$10.3 millio ) i fiscal yea 2026, a i c ease of 20.4% f om JPY1.3 billio i fiscal yea 2025.
Basic a d diluted ea i gs pe sha e we e JPY28.58 (US$0.18) i fiscal yea 2026, compa ed to JPY25.49 i fiscal yea 2025.
As of Feb ua y 28, 2026, the Compa y had cash a d cash equivale ts of JPY8.3 billio (US$52.9 millio ), compa ed to JPY7.7 billio as of Feb ua y 28, 2025.
Net cash p ovided by ope ati g activities was JPY2.1 billio (US$13.3 millio ) i fiscal yea 2026, compa ed to JPY2.2 billio i fiscal yea 2025.
Net cash used i i vesti g activities was JPY0.8 billio (US$5.1 millio ) i fiscal yea 2026, compa ed to JPY0.6 billio i fiscal yea 2025.
Net cash used i fi a ci g activities was JPY0.7 billio (US$4.8 millio ) i fiscal yea 2026, compa ed to et cash p ovided by fi a ci g activities of JPY1.9 billio i fiscal yea 2025.
O May 15, 2026, the Compa y completed its i itial public offe i g (the “Offe i g”) o the Nasdaq Global Ma ket. The Compa y issued a d sold a agg egate of 2,850,000 Ame ica Deposita y Sha es (“ADSs”), each ep ese ti g o e o di a y sha e, at a public offe i g p ice of US$8.00 pe ADS.
O May 20, 2026, A.G.P./Allia ce Global Pa t e s, as the sole u de w ite of the Offe i g, exe cised its ove -allotme t optio i full to pu chase a additio al 427,500 ADSs, each ep ese ti g o e o di a y sha e, at the public offe i g p ice of $8.00 pe ADS. The total g oss p oceeds eceived f om the Offe i g, i cludi g p oceeds f om the exe cise of the ove -allotme t optio , we e $26.2 millio , befo e deducti g u de w iti g discou ts a d offe i g expe ses.
The Compa y’s ADSs fi st bega t adi g o the Nasdaq Global Ma ket o May 14, 2026, u de the ticke symbol “MWC.”
The Compa y will host a ea i gs call at 8:00 am U.S. Easte Time (9:00 pm Japa Sta da d Time) o July 1, 2026. To atte d the ea i gs call, please use the followi g access i fo matio .
Fo pa ticipatio i the ea i gs call, p e- egist atio is equi ed usi g the li k above. Dial-i details a d access i st uctio s will be p ovided upo egist atio . Please joi at least 15 mi utes befo e the comme ceme t of the call to e su e timely pa ticipatio .
Fo those u able to pa ticipate, a video eplay of the co fe e ce call will be available f om app oximately o e hou afte the e d of the live call u til Ju e 30, 2027.
A a chived webcast of the co fe e ce call will also be available at the Compa y’s i vesto elatio s website at www.i -micwa e.com.
This a ou ceme t co tai s t a slatio s of ce tai Japa ese Ye (“JPY”) amou ts i to U.S. dolla s (“USD” o “$”) fo the co ve ie ce of the eade . T a slatio s of amou ts f om JPY i to USD have bee made at the excha ge ate of JPY156.05 = $1.00, which was the fo eig excha ge ate o Feb ua y 27, 2026, the last busi ess day i fiscal yea e ded Feb ua y 28, 2026, as published o the website of the U ited States Fede al Rese ve Boa d.
Micwa e Co., Ltd. is a Japa -based p ovide of softwa e developme t se vices a d i ovative IT solutio s mai ly focused o the automotive a d mobility secto s. The Compa y is p ima ily e gaged i the developme t a d sale of IVI systems cove i g multimedia, avigatio , huma machi e i te face, telematics, a d d ive assista ce, as well as avigatio softwa e a d locatio i fo matio -based sma tpho e applicatio s.
Si ce its fou di g i 2003, Micwa e has built ove 20 yea s of expe ie ce i automotive softwa e a d has established lo g-te m elatio ships with majo OEMs i Japa , i cludi g Ho da Moto Co., Ltd. a d Toyota Moto Co po atio . Leve agi g its e gi ee i g capabilities, p op ieta y tech ologies, a d lo g-sta di g OEM elatio ships, the Compa y was a ked 9th amo g Japa -based Tie 1 supplie s i the IVI ma ket i te ms of eve ue as of Feb ua y 28, 2024, acco di g to a i dust y epo t titled “IVI, Automotive Navigatio System a d Digital Mappi g Ma ket” commissio ed by the Compa y a d p epa ed by F ost & Sulliva . Micwa e ope ates ac oss Japa th ough six ope ati g e tities a d 13 b a ch offices a d has established subsidia ies i the U ited States, Thaila d, a d Ge ma y fo ove seas ope atio s.
Fo mo e i fo matio , please visit the Compa y’s IR website: www.i -micwa e.com.
I the Compa y’s epo t, it discusses key fi a cial measu es that a e ot calculated i acco da ce with the U ited States Ge e ally Accepted Accou ti g P i ciples (“GAAP”) to suppleme t its co solidated fi a cial stateme ts p ese ted o a GAAP basis. These o -GAAP fi a cial measu es a e eco ciled f om thei most di ectly compa able fi a cial measu es dete mi ed i acco da ce with GAAP as follows:
| Ope ati g P ofit | 1,892,397 | 2,160,301 | 2,364,008 | 15,149 | Plus: listi g- elated a d t a sfo matio al expe ses(a) | 126,165 | 149,685 | 62,934 | 403 | Adjusted Ope ati g P ofit | 2,018,562 | 2,309,986 | 2,426,942 | 15,552 |
| (a) | Rep ese ts listi g- elated a d othe t a sfo matio al expe ses i cu ed i co ectio with the Compa y’s IPO a d co po ate t a sfo matio i itiatives fo the fiscal yea s e ded Feb ua y 29, 2024 a d Feb ua y 28, 2025 a d 2026. These costs we e ecog ized as expe ses i the stateme t of ope atio s a d we e ot eco ded as di ect deductio s f om equity. |
Adjusted i come f om ope atio s is a fi a cial measu e that is ot calculated i acco da ce with GAAP, a d the use of the te ms adjusted i come f om ope atio s may diffe f om simila measu es epo ted by othe compa ies a d may ot be compa able to othe simila ly titled measu es. The Compa y believes the o -GAAP fi a cial measu e p ovides i vesto s with useful i fo matio with espect to its histo ical ope atio s. The Compa y p ese ts the o -GAAP fi a cial measu e as suppleme tal pe fo ma ce measu es because it facilitates a compa ative assessme t of the Compa y’s ope ati g pe fo ma ce elative to its pe fo ma ce based o its esults u de GAAP, while isolati g the effects of some items that va y f om pe iod to pe iod. Specifically, adjusted i come f om ope atio s allows the Compa y to assess its pe fo ma ce without the impact of the specifically ide tified items that it believes do ot di ectly eflect its co e ope atio s, i cludi g o – ecu i g costs, such as listi g- elated a d t a sfo matio al expe ses, othe o – ecu i g i come, such as litigatio – elated eimbu seme t. The o -GAAP fi a cial measu e also fu ctio s as key pe fo ma ce i dicato used to evaluate the Compa y’s ope ati g pe fo ma ce i te ally, a d it is used i co ectio with the dete mi atio of i ce tive compe satio fo ma ageme t, i cludi g executive office s.
Adjusted i come f om ope atio s is ot a measu eme t of the Compa y’s fi a cial pe fo ma ce u de GAAP a d should ot be co side ed i isolatio o as a alte ative to i come f om ope atio s o a y othe fi a cial stateme t data p ese ted as i dicato s of fi a cial pe fo ma ce o liquidity, each as p ese ted i acco da ce with GAAP. Co seque tly, the Compa y’s o -GAAP fi a cial measu e should be co side ed togethe with its co solidated fi a cial stateme ts, which a e p epa ed i acco da ce with GAAP a d i cluded i Item 8 of its a ual epo t o Fo m 20-F. The Compa y u de sta ds that although adjusted i come f om ope atio s is f eque tly used by secu ities a alysts, le de s a d othe s i thei evaluatio of compa ies, it has limitatio s as a alytical tools, a d you should ot co side it i isolatio , o as a substitute fo a alysis of its esults as epo ted u de GAAP. Some of these limitatio s a e: adjusted i come f om ope atio s does ot fully eflect the Compa y’s cash expe ditu es, futu e equi eme ts fo capital expe ditu es o co t actual commitme ts; adjusted i come f om ope atio s does ot eflect cha ges i , o cash equi eme ts fo , the Compa y’s wo ki g capital eeds; adjusted i come f om ope atio s does ot eflect the i te est expe se, o the cash equi eme ts ecessa y to se vice i te est o p i cipal payme ts, o debt.
Because of these limitatio s, adjusted i come f om ope atio s should ot be co side ed as disc etio a y cash available to the Compa y to ei vest i the g owth of the Compa y’s busi ess o as measu e of cash that will be available to the Compa y to meet its obligatio s.
Ce tai stateme ts i this p ess elease a e fo wa d-looki g stateme ts. These fo wa d-looki g stateme ts i volve k ow a d u k ow isks a d u ce tai ties a d a e based o the Compa y’s cu e t expectatio s a d p ojectio s about futu e eve ts that the Compa y believes may affect its fi a cial co ditio , esults of ope atio s, busi ess st ategy, a d fi a cial eeds. I vesto s ca fi d ma y (but ot all) of these stateme ts by the use of wo ds such as “app oximates,” “believes,” “hopes,” “expects,” “a ticipates,” “estimates,” “p ojects,” “i te ds,” “pla s,” “will,” “would,” “should,” “could,” “may,” o othe simila exp essio s i this p ess elease. The Compa y u de takes o obligatio to update o evise publicly a y fo wa d-looki g stateme ts to eflect subseque t occu i g eve ts o ci cumsta ces, o cha ges i its expectatio s, except as may be equi ed by law. These stateme ts a e subject to u ce tai ties a d isks, i cludi g, but ot limited to, the u ce tai ties elated to ma ket co ditio s, a d othe facto s discussed i the “Risk Facto s” sectio of the a ual epo t o Fo m 20-F filed with the U.S. Secu ities a d Excha ge Commissio (the “SEC”). Although the Compa y believes that the expectatio s exp essed i these fo wa d-looki g stateme ts a e easo able, it ca ot assu e you that such expectatio s will tu out to be co ect, a d the Compa y cautio s i vesto s that actual esults may diffe mate ially f om the a ticipated esults a d e cou ages i vesto s to eview othe facto s that may affect its futu e esults i the a ual epo t o Fo m 20-F a d othe fili gs with the SEC. Additio al facto s a e discussed i the Compa y’s fili gs with the SEC, which a e available fo eview at www.sec.gov.
Public Relatio sEmail: mic_p @micwa e.co.jp
| Cash a d cash equivale ts | 7,670,463 | 8,259,660 | 52,930 | Accou ts eceivable, et | 1,518,878 | 1,758,584 | 11,269 | Accou ts eceivable due f om elated pa ties, et | 1,019,357 | 86,934 | 557 | Co t act assets | 436,167 | 223,490 | 1,432 | Co t act assets due f om elated pa ties | 1,573,389 | 3,126,224 | 20,033 | I ve to ies | 48,629 | 18,902 | 121 | Tax eceivable | 344,813 | 4,929 | 32 | P epayme ts a d othe cu e t assets | 1,427,733 | 1,026,648 | 6,579 | P epayme ts a d othe cu e t assets due f om elated pa ties | 18,694 | 13,074 | 84 | 14,058,123 | 14,518,445 | 93,037 | P ope ty a d equipme t, et | 1,878,472 | 1,849,599 | 11,853 | Ope ati g lease ight-of-use assets, et | 3,909,012 | 3,834,503 | 24,572 | I ta gible assets, et | 87,768 | 206,920 | 1,326 | Lo g-te m i vestme ts | 219,649 | 317,000 | 2,031 | Goodwill | 197,650 | 239,228 | 1,533 | Defe ed offe i g costs | 86,174 | 231,986 | 1,487 | Defe ed tax assets, et | 687,365 | 1,028,394 | 6,590 | Lo g-te m p epayme ts a d othe o -cu e t assets | 1,848,634 | 2,213,137 | 14,182 | 8,914,724 | 9,920,767 | 63,574 | 22,972,847 | 24,439,212 | 156,611 | Sho t-te m bo owi gs | – | 800,000 | 5,127 | Cu e t po tio of lo g-te m bo owi gs | 1,804,164 | 2,021,924 | 12,957 | Accou ts payable | 1,362,985 | 1,217,573 | 7,802 | Accou ts payable due to a elated pa ty | 288,205 | 188,264 | 1,206 | Cu e t po tio of co t act liabilities | 708,035 | 763,650 | 4,894 | Cu e t po tio of co t act liabilities due to a elated pa ty | – | 646,603 | 4,144 | Ope ati g lease liabilities, cu e t | 881,838 | 1,206,136 | 7,729 | Taxes payable | 922,102 | 530,424 | 3,399 | Acc ued expe ses a d othe cu e t liabilities | 1,350,327 | 1,388,559 | 8,898 | Acc ued expe ses a d othe cu e t liabilities due to elated pa ties | 1,547 | 873 | 6 | 7,319,203 | 8,764,006 | 56,162 | Lo g-te m bo owi gs | 4,273,240 | 2,565,203 | 16,438 | Co t act liabilities, o -cu e t | 723,188 | 877,430 | 5,623 | Ope ati g lease liabilities, o -cu e t | 3,214,665 | 2,880,319 | 18,458 | Defe ed tax liabilities, et | – | 61,513 | 394 | Othe o -cu e t liabilities | 660,003 | 678,073 | 4,345 | 8,871,096 | 7,062,538 | 45,258 | 16,190,299 | 15,826,544 | 101,420 | Redeemable o di a y sha es (313,300 sha es issued a d outsta di g as of Feb ua y 28, 2025 a d Feb ua y 28, 2026)* | 71,500 | 391,124 | 2,506 | 71,500 | 391,124 | 2,506 | O di a y sha es, 125,320,000 sha es autho ized; 58,054,490 sha es issued a d 55,403,490 sha es outsta di g as of Feb ua y 28, 2025, a d 58,054,490 sha es issued a d 55,828,614 sha es outsta di g as of Feb ua y 28, 2026* | 480,000 | 480,000 | 3,076 | T easu y sha es, 2,337,700 a d 1,912,576 sha es as of Feb ua y 28, 2025 a d Feb ua y 28, 2026, espectively* | (489,121 | ) | (410,683 | ) | (2,632 | ) | Additio al paid-i capital | 926,301 | 997,803 | 6,394 | Retai ed ea i gs | 5,540,108 | 6,823,084 | 43,724 | Accumulated othe comp ehe sive i come | 69,722 | 118,474 | 759 | 6,527,010 | 8,008,678 | 51,321 | No -co t olli g i te ests | 184,038 | 212,866 | 1,364 | 6,711,048 | 8,221,544 | 52,685 | 22,972,847 | 24,439,212 | 156,611 |
| * | The sha es a d pe sha e i fo matio a e p ese ted o a et oactive basis to eflect the sha e split f om 1 to 130, which became effective o Ma ch 1, 2024, a d eflect the sha e split f om 1 to 241, which became effective o Ma ch 31, 2026. |
| Reve ue – thi d pa ties | 7,476,565 | 7,276,479 | 7,257,218 | 46,506 | Reve ue – elated pa ties | 10,040,166 | 13,842,825 | 14,638,572 | 93,807 | 17,516,731 | 21,119,304 | 21,895,790 | 140,313 | 12,193,425 | 13,729,851 | 13,845,797 | 88,727 | 5,323,306 | 7,389,453 | 8,049,993 | 51,586 | Selli g, ge e al, a d admi ist ative expe ses | 2,469,969 | 4,171,455 | 4,149,281 | 26,589 | Resea ch a d developme t expe ses | 960,940 | 1,057,697 | 1,536,704 | 9,848 | 3,430,909 | 5,229,152 | 5,685,985 | 36,437 | 1,892,397 | 2,160,301 | 2,364,008 | 15,149 | I te est expe ses, et | (36,978 | ) | (49,498 | ) | (42,785 | ) | (274 | ) | (Loss) gai f om disposal of lo g-lived assets | (154 | ) | (1,370 | ) | 1,092 | 7 | Gai (loss) f om cha ge i fai ma ket value of equity secu ities | 71,165 | (44,352 | ) | (112,100 | ) | (718 | ) | Gai (loss) f om fo eig cu e cy excha ge | 8,904 | (34,515 | ) | 12,735 | 82 | Impai me t loss o lo g-te m i vestme t | – | – | (91,021 | ) | (583 | ) | Gai o ba gai pu chase | – | – | 106,805 | 684 | Othe i come, et | 3,735 | 5,981 | 83,557 | 535 | 46,672 | (123,754 | ) | (41,717 | ) | (267 | ) | 1,939,069 | 2,036,547 | 2,322,291 | 14,882 | Cu e t | 703,501 | 953,843 | 1,030,260 | 6,602 | Defe ed | (163,968 | ) | (271,623 | ) | (327,464 | ) | (2,098 | ) | Total p ovisio fo i come taxes | 539,533 | 682,220 | 702,796 | 4,504 | 1,399,536 | 1,354,327 | 1,619,495 | 10,378 | Less: et i come att ibutable to o -co t olli g i te ests | (28,902 | ) | (23,709 | ) | (16,895 | ) | (108 | ) | 1,370,634 | 1,330,618 | 1,602,600 | 10,270 | Fo eig cu e cy t a slatio adjustme ts | 44,105 | 248 | 60,685 | 389 | 1,443,641 | 1,354,575 | 1,680,180 | 10,767 | Less: comp ehe sive i come att ibutable to o -co t olli g i te ests | (42,137 | ) | (23,572 | ) | (28,828 | ) | (185 | ) | 1,401,504 | 1,331,003 | 1,651,352 | 10,582 | Basic* | 53,040,492 | 52,192,776 | 56,070,866 | 56,070,866 | Diluted* | 53,040,492 | 52,192,776 | 56,070,866 | 56,070,866 | Basic* | 25.84 | 25.49 | 28.58 | 0.18 | Diluted* | 25.84 | 25.49 | 28.58 | 0.18 |
| * | The sha es a d pe sha e i fo matio a e p ese ted o a et oactive basis to eflect the sha e split f om 1 to 130, which became effective o Ma ch 1, 2024, a d eflect the sha e split f om 1 to 241, which became effective o Ma ch 31, 2026. |
| Net i come | 1,399,536 | 1,354,327 | 1,619,495 | 10,378 | Adjustme ts to eco cile et i come to et cash p ovided by ope ati g activities: | Dep eciatio a d amo tizatio expe se | 423,597 | 441,932 | 429,103 | 2,750 | Amo tizatio of ope ati g lease ight-of-use assets | 651,593 | 929,705 | 1,156,300 | 7,409 | P ovisio s fo i ve to y valuatio losses | – | – | 30,688 | 197 | Loss (gai ) o disposal of p ope ty a d equipme t | 154 | (219 | ) | (1,092 | ) | (7 | ) | Loss o disposal of i ta gible assets | – | 1,589 | – | – | Cha ge i fai value of ma ketable secu ities | (71,165 | ) | 44,352 | 112,100 | 718 | Impai me t loss o lo g- te m i vestme t | – | – | 91,021 | 583 | Gai o ba gai pu chase | – | – | (106,805 | ) | (684 | ) | Defe ed tax be efit | (163,968 | ) | (271,623 | ) | (327,464 | ) | (2,098 | ) | Cha ges i ope ati g assets a d liabilities: | Accou ts eceivable | (26,098 | ) | 114,708 | (53,770 | ) | (345 | ) | Accou ts eceivable due f om elated pa ties | 1,244,049 | (818,844 | ) | 932,423 | 5,975 | Co t act assets | (48,148 | ) | (209,309 | ) | 212,677 | 1,363 | Co t act assets due f om elated pa ties | (1,900,379 | ) | 1,845,516 | (1,552,835 | ) | (9,951 | ) | I ve to ies | (2,292 | ) | (43,697 | ) | (961 | ) | (6 | ) | Tax eceivables | (4,244 | ) | (340,569 | ) | 339,884 | 2,178 | P epayme ts a d othe assets | (363,437 | ) | (1,441,012 | ) | 66,390 | 425 | P epayme ts a d othe assets due f om elated pa ties | 15,752 | (7,097 | ) | 5,620 | 36 | Accou ts payable | 244,732 | 178,164 | (145,412 | ) | (932 | ) | Accou ts payable due to a elated pa ty | (97,431 | ) | (30,206 | ) | (99,941 | ) | (640 | ) | Co t act liabilities | 216,753 | 170,141 | 209,857 | 1,345 | Co t act liabilities due to a elated pa ty | (7,978 | ) | (92 | ) | 646,603 | 4,144 | Acc ued expe ses a d othe liabilities | (488,192 | ) | 544,889 | (5,335 | ) | (34 | ) | Acc ued expe ses a d othe liabilities due to elated pa ties | (1,426 | ) | 1,052 | (674 | ) | (4 | ) | Ope ati g lease liabilities | (658,615 | ) | (705,040 | ) | (1,091,737 | ) | (6,996 | ) | Taxes payable | 40,260 | 470,572 | (391,678 | ) | (2,510 | ) | Net cash p ovided by ope ati g activities | 403,053 | 2,229,239 | 2,074,457 | 13,294 | Payme t fo i vestme t | (50,000 | ) | (500 | ) | (300,472 | ) | (1,925 | ) | P oceeds f om sale of i vestme t | 26,191 | – | – | – | Pu chase of p ope ty a d equipme t | (180,738 | ) | (594,987 | ) | (268,727 | ) | (1,722 | ) | P oceeds f om sale of p ope ty a d equipme t | 254 | 1,108 | 2,308 | 15 | Pu chase of i ta gible assets | (14,709 | ) | (38,710 | ) | (22,712 | ) | (146 | ) | Acquisitio s | – | – | (205,000 | ) | (1,314 | ) | Net cash used i i vesti g activities | (219,002 | ) | (633,089 | ) | (794,603 | ) | (5,092 | ) | P oceeds f om bo owi gs | 5,300,000 | 3,260,000 | 1,200,000 | 7,690 | Repayme t of bo owi gs | (4,278,044 | ) | (2,009,256 | ) | (1,890,277 | ) | (12,113 | ) | Payme ts o defe ed offe i g costs | – | (86,174 | ) | (142,368 | ) | (912 | ) | Repayme ts of fi a ce lease obligatio | (47,906 | ) | (55,249 | ) | (63,751 | ) | (409 | ) | Pu chase of t easu y sha es | (2,618,591 | ) | – | – | – | Reissua ce of t easu y sha es | 1,618,500 | 776,000 | 149,940 | 961 | P oceeds f om issua ce of edeemable o di a y sha es | 65,000 | – | – | – | Net cash p ovided by (used i ) fi a ci g activities | 38,959 | 1,885,321 | (746,456 | ) | (4,783 | ) | Effect of fo eig excha ge ate cha ges o cash a d cash equivale ts | 38,742 | (644 | ) | 55,799 | 357 | Net i c ease i cash a d cash equivale ts | 261,752 | 3,480,827 | 589,197 | 3,776 | 3,927,884 | 4,189,636 | 7,670,463 | 49,154 | 4,189,636 | 7,670,463 | 8,259,660 | 52,930 | Cash paid fo i come taxes | 677,119 | 816,763 | 1,084,760 | 6,951 | Cash paid fo i te est expe ses | 36,731 | 53,499 | 71,698 | 459 | Ope ati g lease ight-of-use assets obtai ed i excha ge fo ope ati g lease liabilities | 126,623 | 3,127,334 | 1,081,311 | 6,929 | Fi a ce lease ight-of-use assets obtai ed i excha ge fo fi a ce lease liabilities | 94,994 | 25,629 | 117,164 | 751 | Remeasu eme t of ope ati g lease liabilities a d ight-of-use assets due to modificatio s | 8,092 | – | 7,674 | 49 | Remeasu eme t of fi a ce lease liabilities a d ight-of-use assets due to modificatio s | – | – | 13,529 | 87 | Adjustme ts to edeemable o di a y sha es fai value measu eme t | 3,290 | 3,210 | 319,624 | 2,048 |
| OPERATING PROFIT | 1,892,397 | 2,160,301 | 2,364,008 | 15,149 | Plus: listi g- elated a d t a sfo matio al expe ses(a) | 126,165 | 149,685 | 62,934 | 403 | Adjusted OPERATING PROFIT | 2,018,562 | 2,309,986 | 2,426,942 | 15,552 |
| (a) | Rep ese ts listi g- elated a d othe t a sfo matio al expe ses i cu ed i co ectio with the Compa y’s IPO a d co po ate t a sfo matio i itiatives fo the fiscal yea s e ded Feb ua y 29, 2024 a d Feb ua y 28, 2025 a d 2026. These costs we e ecog ized as expe ses i the stateme t of ope atio s a d we e ot eco ded as di ect deductio s f om equity. |
