Income Statement

Revenue

+9%

-3%

10Y

Currency: JPY

	Jun-2005	Sep-2005	Dec-2005	Jun-2006	Sep-2006	Dec-2006	Jun-2007	Sep-2007	Dec-2007	Jun-2008	Sep-2008	Dec-2008	Jun-2009	Sep-2009	Dec-2009	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Revenue
Interest Expense	352	0	0	360	0	0	373	0	0	427	0	0	434	0	0	494	965	1 430	1 889	1 828	1 810	1 762	1 741	1 710	1 647	1 623	1 607	1 552	1 503	1 435	1 369	1 325	1 268	1 185	1 113	1 041	1 012	1 022	1 030	1 016	995	968	925	899	891	874	861	835	802	781	750	755	752	745	743	728	720	714	707	721	734	744	747	738	736	736	710	788	922	1 067	1 291	1 389	1 474	1 460	1 509	0	0	0
Revenue	438 255 N/A	432 849 -1%	430 115 -1%	432 681 +1%	440 061 +2%	450 099 +2%	456 357 +1%	459 029 +1%	460 473 +0%	457 790 -1%	457 738 0%	455 081 -1%	459 802 +1%	457 491 -1%	457 947 +0%	455 181 -1%	459 439 +1%	459 324 0%	583 019 +27%	579 302 -1%	576 185 -1%	574 427 0%	578 299 +1%	581 727 +1%	586 053 +1%	588 354 +0%	591 197 +0%	594 207 +1%	595 000 +0%	596 539 +0%	599 273 +0%	599 217 0%	594 135 -1%	596 507 +0%	594 834 0%	597 921 +1%	602 360 +1%	601 926 0%	601 499 0%	598 186 -1%	593 892 -1%	592 427 0%	592 617 +0%	593 006 +0%	593 697 +0%	593 389 0%	592 087 0%	588 686 -1%	586 737 0%	586 503 0%	583 582 0%	585 860 +0%	584 969 0%	586 625 +0%	590 892 +1%	587 012 -1%	583 410 -1%	584 877 +0%	583 550 0%	562 868 -4%	539 580 -4%	518 369 -4%	503 354 -3%	505 459 +0%	511 970 +1%	520 160 +2%	525 603 +1%	535 041 +2%	542 221 +1%	543 620 +0%	547 059 +1%	547 958 +0%	551 078 +1%	554 539 +1%	561 173 +1%	564 214 +1%	563 904 0%	568 274 +1%
Gross Profit
Cost of Revenue	(306 628)	(303 725)	(303 711)	(306 544)	(310 168)	(316 422)	(320 284)	(322 293)	(324 723)	(323 157)	(323 778)	(321 232)	(323 135)	(318 598)	(316 024)	(312 337)	(314 039)	(313 417)	(398 469)	(395 978)	(395 689)	(395 630)	(399 780)	(403 503)	(406 711)	(408 625)	(412 554)	(415 011)	(417 256)	(419 737)	(421 844)	(423 120)	(420 316)	(422 676)	(422 281)	(423 540)	(425 394)	(422 588)	(419 454)	(413 022)	(404 797)	(399 673)	(399 286)	(399 209)	(400 153)	(402 220)	(402 139)	(401 098)	(401 598)	(401 618)	(398 337)	(400 187)	(398 518)	(398 775)	(401 538)	(398 342)	(395 308)	(396 166)	(393 478)	(387 987)	(382 342)	(379 323)	(381 077)	(386 164)	(394 415)	(403 389)	(407 308)	(413 248)	(415 057)	(413 256)	(415 100)	(415 497)	(419 864)	(422 082)	(426 120)	(428 403)	(425 592)	(426 385)
Gross Profit	131 627 N/A	129 124 -2%	126 404 -2%	126 137 0%	129 893 +3%	133 677 +3%	136 073 +2%	136 736 +0%	135 750 -1%	134 633 -1%	133 960 0%	133 849 0%	136 667 +2%	138 893 +2%	141 923 +2%	142 844 +1%	145 400 +2%	145 907 +0%	184 550 +26%	183 324 -1%	180 496 -2%	178 797 -1%	178 519 0%	178 224 0%	179 342 +1%	179 729 +0%	178 643 -1%	179 196 +0%	177 744 -1%	176 802 -1%	177 429 +0%	176 097 -1%	173 819 -1%	173 831 +0%	172 553 -1%	174 381 +1%	176 966 +1%	179 338 +1%	182 045 +2%	185 164 +2%	189 095 +2%	192 754 +2%	193 331 +0%	193 797 +0%	193 544 0%	191 169 -1%	189 948 -1%	187 588 -1%	185 139 -1%	184 885 0%	185 245 +0%	185 673 +0%	186 451 +0%	187 850 +1%	189 354 +1%	188 670 0%	188 102 0%	188 711 +0%	190 072 +1%	174 881 -8%	157 238 -10%	139 046 -12%	122 277 -12%	119 295 -2%	117 555 -1%	116 771 -1%	118 295 +1%	121 793 +3%	127 164 +4%	130 364 +3%	131 959 +1%	132 461 +0%	131 214 -1%	132 457 +1%	135 053 +2%	135 811 +1%	138 312 +2%	141 889 +3%
Operating Income
Operating Expenses	(119 631)	(119 566)	(118 755)	(118 407)	(120 337)	(122 693)	(124 898)	(126 254)	(125 720)	(123 958)	(122 999)	(121 766)	(122 689)	(123 036)	(123 804)	(124 952)	(125 987)	(127 017)	(165 633)	(164 347)	(164 903)	(165 508)	(165 335)	(166 761)	(167 527)	(168 953)	(168 477)	(168 186)	(167 557)	(165 815)	(165 447)	(166 431)	(166 321)	(166 132)	(165 282)	(164 761)	(164 739)	(165 062)	(167 587)	(167 857)	(169 116)	(170 182)	(172 232)	(171 925)	(171 201)	(170 710)	(168 264)	(167 352)	(165 504)	(164 165)	(162 914)	(162 860)	(162 987)	(163 541)	(163 995)	(163 086)	(161 763)	(161 772)	(161 205)	(143 488)	(124 580)	(107 031)	(92 485)	(93 068)	(93 873)	(94 132)	(94 356)	(94 498)	(96 989)	(98 870)	(104 120)	(105 795)	(106 732)	(107 144)	(105 395)	(105 790)	(105 348)	(107 039)
Selling, General & Administrative	(119 631)	(119 566)	(118 755)	(118 407)	(120 337)	(122 693)	(124 898)	(126 254)	(125 720)	(123 958)	(122 999)	(121 766)	(122 689)	(123 036)	(123 804)	(124 952)	(125 987)	(127 017)	(160 761)	(164 347)	(164 903)	(165 508)	(160 495)	(166 759)	(167 526)	(168 951)	(163 562)	(168 186)	(167 555)	(165 815)	(160 455)	(166 429)	(166 321)	(166 562)	(160 788)	(165 227)	(165 203)	(165 200)	(162 763)	(167 997)	(169 257)	(170 218)	(166 869)	(171 925)	(171 200)	(170 710)	(163 516)	(167 350)	(165 503)	(164 162)	(158 265)	(162 859)	(162 985)	(163 542)	(159 216)	(163 086)	(161 765)	(161 770)	(156 425)	(143 487)	(124 578)	(107 031)	(87 393)	(93 067)	(93 872)	(94 131)	(88 797)	(94 497)	(96 988)	(98 869)	(98 163)	(105 794)	(106 731)	(107 143)	(99 212)	(105 790)	(105 348)	(107 039)
Research & Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(4 872)	0	0	0	(4 839)	0	0	0	(4 915)	0	0	0	(4 991)	0	0	0	(4 958)	0	0	0	0	0	0	0	(5 362)	0	0	0	(4 747)	0	0	0	(4 648)	0	0	0	(4 779)	0	0	0	(4 779)	0	0	0	(5 091)	0	0	0	(5 558)	0	0	0	(5 956)	0	0	0	(6 183)	0	0	0
Depreciation & Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	430	0	0	0	142	141	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(1)	(2)	(1)	(2)	0	0	(2)	0	(1)	(2)	0	0	464	466	464	(4)	(4 965)	140	141	36	(1)	0	(1)	0	(1)	(2)	0	(3)	(1)	(1)	(2)	1	0	0	2	(2)	(1)	(1)	0	0	(1)	(1)	(1)	0	(1)	(1)	(1)	0	(1)	(1)	0	(1)	0	0	0	0
Operating Income	11 996 N/A	9 558 -20%	7 649 -20%	7 730 +1%	9 556 +24%	10 984 +15%	11 175 +2%	10 482 -6%	10 030 -4%	10 675 +6%	10 961 +3%	12 083 +10%	13 978 +16%	15 857 +13%	18 119 +14%	17 892 -1%	19 413 +9%	18 890 -3%	18 917 +0%	18 977 +0%	15 593 -18%	13 289 -15%	13 184 -1%	11 463 -13%	11 815 +3%	10 776 -9%	10 166 -6%	11 010 +8%	10 187 -7%	10 987 +8%	11 982 +9%	9 666 -19%	7 498 -22%	7 699 +3%	7 271 -6%	9 620 +32%	12 227 +27%	14 276 +17%	14 458 +1%	17 307 +20%	19 979 +15%	22 572 +13%	21 099 -7%	21 872 +4%	22 343 +2%	20 459 -8%	21 684 +6%	20 236 -7%	19 635 -3%	20 720 +6%	22 331 +8%	22 813 +2%	23 464 +3%	24 309 +4%	25 359 +4%	25 584 +1%	26 339 +3%	26 939 +2%	28 867 +7%	31 393 +9%	32 658 +4%	32 015 -2%	29 792 -7%	26 227 -12%	23 682 -10%	22 639 -4%	23 939 +6%	27 295 +14%	30 175 +11%	31 494 +4%	27 839 -12%	26 666 -4%	24 482 -8%	25 313 +3%	29 658 +17%	30 021 +1%	32 964 +10%	34 850 +6%
Pre-Tax Income
Interest Income Expense	(1)	2 586	2 586	2 836	527	261	415	(623)	(623)	(914)	(829)	(842)	(858)	(1 121)	(981)	(1 005)	(800)	(855)	(1 230)	(1 118)	(1 119)	(1 006)	(1 090)	(1 139)	(1 091)	(1 116)	(1 062)	(992)	(780)	(735)	(670)	(630)	(612)	(494)	279	306	484	470	(76)	(129)	(336)	(207)	(119)	16	288	257	(241)	(198)	(196)	(256)	80	(210)	(568)	(69)	(139)	438	681	227	1 155	830	844	841	553	906	923	774	670	1 028	1 056	760	980	1 276	(661)	337	5 721	5 322	7 816	8 358
Non-Reccuring Items	(1 577)	(2 383)	(2 234)	(2 281)	(1 901)	(2 053)	(1 961)	(1 989)	(1 834)	(1 843)	(1 568)	(2 272)	(2 321)	(2 333)	(1 170)	(1 623)	(3 769)	(3 298)	(7 494)	(7 571)	(6 986)	(8 211)	(4 962)	(4 527)	(3 202)	(2 734)	(2 679)	(2 165)	(3 205)	(3 461)	(3 378)	(3 903)	(2 845)	(2 675)	(2 383)	(2 034)	(2 848)	(2 799)	(3 354)	(3 745)	(2 709)	(2 696)	(2 279)	(1 950)	(1 870)	(1 972)	(1 075)	(1 253)	(1 594)	(1 596)	(2 497)	(2 666)	(2 422)	(2 396)	(5 534)	(5 740)	(5 845)	(5 997)	(5 289)	(5 039)	(4 714)	(5 490)	(3 399)	(4 757)	(5 131)	(4 295)	(1 774)	(689)	(608)	(839)	(4 654)	(4 987)	(5 142)	(5 508)	(24 860)	(22 690)	(23 985)	(23 514)
Gain/Loss on Disposition of Assets	(587)	34	41	(22)	(1 156)	(1 253)	(974)	(32)	(36)	(145)	(89)	95	173	(437)	(550)	(486)	(150)	(233)	(556)	(551)	(514)	(450)	(367)	(454)	(494)	(266)	762	751	737	308	(357)	(617)	185	361	115	312	(446)	4 485	0	3 968	3 994	(931)	(567)	2 422	2 496	2 704	2 093	(972)	(1 069)	(1 239)	(712)	(621)	(781)	(868)	6 047	6 050	6 187	0	533	4 667	4 744	4 880	20 558	16 578	16 788	16 579	222	65 905	65 718	65 469	64 359	(1 402)	(1 745)	(1 494)	3 586	3 661	3 953	3 875
Total Other Income	800	954	1 138	1 191	953	942	956	745	611	584	693	644	766	746	716	673	667	805	1 058	1 095	1 068	1 057	1 092	1 115	1 147	1 250	1 448	1 406	1 451	1 465	1 083	1 022	987	782	814	803	811	687	4 756	785	750	1 062	1 019	1 204	1 242	1 152	1 009	750	937	832	1 028	1 193	984	803	773	876	946	7 351	732	509	420	627	792	738	784	660	662	760	577	578	47	(63)	39	264	1 181	1 061	1 024	824
Pre-Tax Income	10 631 N/A	10 749 +1%	9 180 -15%	9 454 +3%	7 979 -16%	8 881 +11%	9 611 +8%	8 583 -11%	8 148 -5%	8 357 +3%	9 168 +10%	9 708 +6%	11 738 +21%	12 712 +8%	16 134 +27%	15 451 -4%	15 361 -1%	15 309 0%	10 695 -30%	10 832 +1%	8 042 -26%	4 679 -42%	7 857 +68%	6 458 -18%	8 175 +27%	7 910 -3%	8 635 +9%	10 010 +16%	8 390 -16%	8 564 +2%	8 660 +1%	5 538 -36%	5 213 -6%	5 673 +9%	6 096 +7%	9 007 +48%	10 228 +14%	17 119 +67%	15 784 -8%	18 186 +15%	21 678 +19%	19 800 -9%	19 153 -3%	23 564 +23%	24 499 +4%	22 600 -8%	23 470 +4%	18 563 -21%	17 713 -5%	18 461 +4%	20 230 +10%	20 509 +1%	20 677 +1%	21 779 +5%	26 506 +22%	27 208 +3%	28 308 +4%	28 520 +1%	25 998 -9%	32 360 +24%	33 952 +5%	32 873 -3%	48 296 +47%	39 692 -18%	37 046 -7%	36 357 -2%	23 719 -35%	94 299 +298%	96 918 +3%	97 462 +1%	88 571 -9%	21 490 -76%	16 973 -21%	18 912 +11%	15 286 -19%	17 375 +14%	21 772 +25%	24 393 +12%
Net Income
Tax Provision	(4 933)	(5 054)	(4 489)	(4 502)	(4 063)	(4 358)	(4 884)	(4 472)	(4 149)	(3 987)	(4 800)	(4 632)	(5 360)	(4 394)	(6 065)	(6 032)	(7 138)	(6 131)	(4 503)	(4 456)	(2 545)	(2 551)	(3 055)	(2 314)	(2 741)	(2 351)	(3 557)	(3 897)	(3 736)	(3 737)	(3 793)	(2 677)	(1 811)	(1 807)	(1 831)	(2 655)	(3 524)	(5 718)	(5 129)	(6 093)	(6 693)	(6 065)	(5 887)	(7 096)	(7 526)	(7 172)	(7 655)	(6 375)	(6 036)	(5 884)	(6 044)	(5 992)	(6 029)	(6 397)	(7 687)	(7 906)	(7 898)	(7 710)	(7 095)	(8 973)	(9 468)	(9 474)	(14 369)	(12 094)	(11 872)	(11 624)	(6 699)	(27 281)	(29 239)	(29 832)	(27 224)	(7 811)	(5 215)	(5 689)	(10 633)	(11 091)	(12 063)	(12 424)
Income from Continuing Operations	5 698	5 695	4 691	4 952	3 916	4 523	4 727	4 111	3 999	4 370	4 368	5 076	6 378	8 318	10 069	9 419	8 223	9 178	6 192	6 376	5 497	2 128	4 802	4 144	5 434	5 559	5 078	6 113	4 654	4 827	4 867	2 861	3 402	3 866	4 265	6 352	6 704	11 401	10 655	12 093	14 985	13 735	13 266	16 468	16 973	15 428	15 815	12 188	11 677	12 577	14 186	14 517	14 648	15 382	18 819	19 302	20 410	20 810	18 903	23 387	24 484	23 399	33 927	27 598	25 174	24 733	17 020	67 018	67 679	67 630	61 347	13 679	11 758	13 223	4 653	6 284	9 709	11 969
Income to Minority Interest	(23)	(20)	(81)	(127)	(78)	(106)	(95)	(99)	(72)	(43)	(1)	14	(2)	(135)	(153)	(96)	22	11	(26)	(73)	(107)	(140)	(192)	(197)	(180)	(147)	(60)	(45)	(19)	(5)	(27)	(20)	(82)	(102)	(100)	(104)	(78)	(87)	(79)	(80)	(93)	(75)	(63)	(70)	(39)	(44)	(33)	(44)	(76)	(126)	(168)	(175)	(176)	(151)	(162)	(155)	(158)	(164)	(161)	(175)	(158)	(144)	(143)	(136)	(153)	(160)	(144)	(141)	(107)	(84)	(39)	(2)	83	25	807	776	681	689
Net Income (Common)	5 670 N/A	5 670 N/A	4 608 -19%	4 819 +5%	3 836 -20%	4 413 +15%	4 631 +5%	4 008 -13%	3 925 -2%	4 327 +10%	4 365 +1%	5 087 +17%	6 372 +25%	8 182 +28%	9 916 +21%	9 323 -6%	8 244 -12%	9 192 +11%	6 164 -33%	6 305 +2%	5 387 -15%	1 983 -63%	4 608 +132%	3 943 -14%	5 254 +33%	5 410 +3%	5 016 -7%	6 065 +21%	4 633 -24%	4 820 +4%	4 839 +0%	2 841 -41%	3 318 +17%	3 762 +13%	4 164 +11%	6 246 +50%	6 626 +6%	11 314 +71%	10 576 -7%	12 013 +14%	14 892 +24%	13 660 -8%	13 202 -3%	16 399 +24%	16 932 +3%	15 384 -9%	15 781 +3%	12 141 -23%	11 600 -4%	12 449 +7%	14 017 +13%	14 342 +2%	14 473 +1%	15 230 +5%	18 656 +22%	19 146 +3%	20 249 +6%	20 645 +2%	18 741 -9%	23 211 +24%	24 327 +5%	23 254 -4%	33 782 +45%	27 460 -19%	25 018 -9%	24 571 -2%	16 875 -31%	66 875 +296%	67 571 +1%	67 545 0%	61 307 -9%	13 678 -78%	11 842 -13%	13 249 +12%	5 459 -59%	7 057 +29%	10 387 +47%	12 655 +22%
EPS (Diluted)	111.17 N/A	111.17 N/A	90.35 -19%	94.49 +5%	75.21 -20%	86.52 +15%	90.8 +5%	78.58 -13%	76.96 -2%	84.84 +10%	85.58 +1%	99.74 +17%	124.94 +25%	160.43 +28%	194.43 +21%	186.46 -4%	164.88 -12%	183.84 +11%	123.28 -33%	126.1 +2%	107.74 -15%	39.65 -63%	92.16 +132%	78.86 -14%	105.08 +33%	108.2 +3%	100.32 -7%	121.3 +21%	92.66 -24%	96.4 +4%	96.78 +0%	56.82 -41%	66.36 +17%	75.23 +13%	84.02 +12%	124.92 +49%	132.52 +6%	226.28 +71%	213.35 -6%	240.26 +13%	297.83 +24%	273.2 -8%	266.27 -3%	327.98 +23%	338.64 +3%	307.68 -9%	318.27 +3%	242.82 -24%	232 -4%	251.62 +8%	282.69 +12%	289.37 +2%	291.95 +1%	307.26 +5%	376.36 +22%	386.22 +3%	408.41 +6%	416.38 +2%	189.01 -55%	468.15 +148%	491.44 +5%	469.02 -5%	343.17 -27%	607.45 +77%	551.5 -9%	542.09 -2%	186.31 -66%	742.39 +298%	764.17 +3%	777.32 +2%	696.09 -10%	158.25 -77%	139.69 -12%	158.46 +13%	64.53 -59%	84.56 +31%	126.48 +50%	155.6 +23%

Income Statement Balance Sheet Cash Flow Statement

Morinaga Milk Industry Co Ltd
TSE:2264

Income Statement

Earnings Waterfall
Morinaga Milk Industry Co Ltd

Income Statement
Morinaga Milk Industry Co Ltd

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Morinaga Milk Industry Co Ltd TSE:2264

Income Statement

Earnings Waterfall Morinaga Milk Industry Co Ltd

Income Statement Morinaga Milk Industry Co Ltd

See Also

Company

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Morinaga Milk Industry Co Ltd
TSE:2264

Earnings Waterfall
Morinaga Milk Industry Co Ltd

Income Statement
Morinaga Milk Industry Co Ltd