Max Co Ltd
TSE:6454
Income Statement
Earnings Waterfall
Max Co Ltd
Revenue
|
85.8B
JPY
|
Cost of Revenue
|
-46.9B
JPY
|
Gross Profit
|
38.9B
JPY
|
Operating Expenses
|
-26.6B
JPY
|
Operating Income
|
12.2B
JPY
|
Other Expenses
|
-2.5B
JPY
|
Net Income
|
9.7B
JPY
|
Income Statement
Max Co Ltd
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 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
62 817
N/A
|
64 791
+3%
|
65 252
+1%
|
65 413
+0%
|
65 355
0%
|
64 950
-1%
|
65 434
+1%
|
66 106
+1%
|
66 430
+0%
|
66 510
+0%
|
66 452
0%
|
66 435
0%
|
66 538
+0%
|
66 967
+1%
|
67 033
+0%
|
67 530
+1%
|
68 008
+1%
|
68 138
+0%
|
69 164
+2%
|
69 420
+0%
|
70 134
+1%
|
70 118
0%
|
70 511
+1%
|
70 796
+0%
|
70 218
-1%
|
69 671
-1%
|
66 996
-4%
|
64 826
-3%
|
63 986
-1%
|
64 029
+0%
|
66 618
+4%
|
69 510
+4%
|
71 779
+3%
|
73 958
+3%
|
77 131
+4%
|
80 400
+4%
|
83 399
+4%
|
84 316
+1%
|
85 180
+1%
|
85 273
+0%
|
85 768
+1%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(39 390)
|
(40 822)
|
(41 032)
|
(40 940)
|
(40 564)
|
(40 264)
|
(40 750)
|
(41 221)
|
(41 414)
|
(41 083)
|
(40 576)
|
(40 320)
|
(40 180)
|
(40 385)
|
(40 577)
|
(41 057)
|
(41 522)
|
(41 683)
|
(42 371)
|
(42 436)
|
(42 503)
|
(42 387)
|
(42 221)
|
(41 988)
|
(41 316)
|
(40 544)
|
(38 772)
|
(37 240)
|
(36 636)
|
(36 704)
|
(38 304)
|
(39 937)
|
(41 224)
|
(42 569)
|
(44 427)
|
(46 695)
|
(47 919)
|
(48 187)
|
(47 608)
|
(46 832)
|
(46 910)
|
|
Gross Profit |
23 427
N/A
|
23 969
+2%
|
24 220
+1%
|
24 473
+1%
|
24 791
+1%
|
24 686
0%
|
24 684
0%
|
24 885
+1%
|
25 016
+1%
|
25 427
+2%
|
25 876
+2%
|
26 115
+1%
|
26 358
+1%
|
26 582
+1%
|
26 456
0%
|
26 473
+0%
|
26 486
+0%
|
26 455
0%
|
26 793
+1%
|
26 984
+1%
|
27 631
+2%
|
27 731
+0%
|
28 290
+2%
|
28 808
+2%
|
28 902
+0%
|
29 127
+1%
|
28 224
-3%
|
27 586
-2%
|
27 350
-1%
|
27 325
0%
|
28 314
+4%
|
29 573
+4%
|
30 555
+3%
|
31 389
+3%
|
32 704
+4%
|
33 705
+3%
|
35 480
+5%
|
36 129
+2%
|
37 572
+4%
|
38 441
+2%
|
38 858
+1%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(19 089)
|
(19 379)
|
(19 298)
|
(19 439)
|
(19 459)
|
(19 389)
|
(19 380)
|
(19 354)
|
(19 425)
|
(19 537)
|
(19 849)
|
(20 025)
|
(20 073)
|
(20 252)
|
(20 271)
|
(20 334)
|
(20 390)
|
(20 309)
|
(20 299)
|
(20 283)
|
(20 417)
|
(20 600)
|
(20 805)
|
(21 018)
|
(21 109)
|
(21 549)
|
(21 178)
|
(21 061)
|
(21 028)
|
(20 640)
|
(21 143)
|
(21 982)
|
(23 029)
|
(23 891)
|
(24 806)
|
(25 581)
|
(26 070)
|
(26 203)
|
(26 327)
|
(26 302)
|
(26 648)
|
|
Selling, General & Administrative |
(18 437)
|
(16 189)
|
(18 642)
|
(18 782)
|
(18 804)
|
(16 293)
|
(18 724)
|
(18 695)
|
(18 766)
|
(16 375)
|
(19 209)
|
(19 404)
|
(19 470)
|
(16 669)
|
(19 667)
|
(19 722)
|
(19 769)
|
(16 817)
|
(19 675)
|
(19 656)
|
(19 786)
|
(16 983)
|
(20 055)
|
(20 253)
|
(20 324)
|
(17 686)
|
(20 458)
|
(20 329)
|
(20 284)
|
(16 744)
|
(20 486)
|
(21 214)
|
(22 078)
|
(22 875)
|
(23 722)
|
(24 475)
|
(24 959)
|
(25 080)
|
(25 193)
|
(25 150)
|
(25 472)
|
|
Research & Development |
0
|
(2 537)
|
0
|
0
|
0
|
(2 440)
|
0
|
0
|
0
|
(2 515)
|
0
|
0
|
0
|
(2 979)
|
0
|
0
|
0
|
(2 870)
|
0
|
0
|
0
|
(2 928)
|
0
|
0
|
0
|
(3 076)
|
0
|
0
|
0
|
(3 128)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Depreciation & Amortization |
(651)
|
(652)
|
(655)
|
(655)
|
(654)
|
(655)
|
(656)
|
(658)
|
(660)
|
(646)
|
(637)
|
(619)
|
(602)
|
(604)
|
(606)
|
(613)
|
(620)
|
(620)
|
(621)
|
(625)
|
(628)
|
(688)
|
(749)
|
(764)
|
(785)
|
(787)
|
(720)
|
(732)
|
(744)
|
(767)
|
(790)
|
(867)
|
(950)
|
(1 014)
|
(1 082)
|
(1 104)
|
(1 110)
|
(1 123)
|
(1 135)
|
(1 151)
|
(1 175)
|
|
Other Operating Expenses |
(1)
|
(1)
|
(1)
|
(2)
|
(1)
|
(1)
|
0
|
(1)
|
1
|
(1)
|
(3)
|
0
|
(1)
|
0
|
0
|
1
|
(1)
|
(2)
|
(3)
|
(2)
|
(3)
|
(1)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
133
|
99
|
0
|
(2)
|
(2)
|
0
|
(1)
|
0
|
0
|
(1)
|
(1)
|
|
Operating Income |
4 338
N/A
|
4 590
+6%
|
4 922
+7%
|
5 034
+2%
|
5 332
+6%
|
5 297
-1%
|
5 304
+0%
|
5 531
+4%
|
5 591
+1%
|
5 890
+5%
|
6 027
+2%
|
6 090
+1%
|
6 285
+3%
|
6 330
+1%
|
6 185
-2%
|
6 139
-1%
|
6 096
-1%
|
6 146
+1%
|
6 494
+6%
|
6 701
+3%
|
7 214
+8%
|
7 131
-1%
|
7 485
+5%
|
7 790
+4%
|
7 793
+0%
|
7 578
-3%
|
7 046
-7%
|
6 525
-7%
|
6 322
-3%
|
6 685
+6%
|
7 171
+7%
|
7 591
+6%
|
7 526
-1%
|
7 498
0%
|
7 898
+5%
|
8 124
+3%
|
9 410
+16%
|
9 926
+5%
|
11 245
+13%
|
12 139
+8%
|
12 210
+1%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
641
|
271
|
113
|
379
|
567
|
609
|
733
|
509
|
140
|
(73)
|
(417)
|
(502)
|
(451)
|
36
|
(39)
|
71
|
(13)
|
(187)
|
(107)
|
(4)
|
(146)
|
74
|
(44)
|
(232)
|
2
|
86
|
77
|
(4)
|
(272)
|
71
|
51
|
145
|
485
|
627
|
1 492
|
1 926
|
1 054
|
466
|
284
|
52
|
463
|
|
Non-Reccuring Items |
(160)
|
(302)
|
(380)
|
(397)
|
(162)
|
(555)
|
(567)
|
(534)
|
(604)
|
(215)
|
(165)
|
(172)
|
(96)
|
(123)
|
(121)
|
(131)
|
(129)
|
25
|
(37)
|
(28)
|
(33)
|
(12)
|
(158)
|
(186)
|
(280)
|
(304)
|
(225)
|
(155)
|
(50)
|
177
|
0
|
0
|
91
|
(36)
|
(56)
|
(63)
|
(104)
|
(253)
|
(228)
|
(228)
|
(218)
|
|
Gain/Loss on Disposition of Assets |
(1)
|
(24)
|
(24)
|
(24)
|
(51)
|
(9)
|
0
|
(9)
|
19
|
41
|
0
|
56
|
57
|
17
|
0
|
34
|
33
|
10
|
0
|
(3)
|
(3)
|
(132)
|
(3)
|
0
|
(3)
|
16
|
0
|
15
|
15
|
0
|
(19)
|
(21)
|
(17)
|
3
|
1
|
4
|
5
|
33
|
30
|
30
|
29
|
|
Total Other Income |
9
|
(10)
|
(7)
|
21
|
16
|
33
|
27
|
(4)
|
46
|
67
|
110
|
105
|
512
|
89
|
464
|
470
|
44
|
78
|
149
|
107
|
108
|
63
|
37
|
16
|
(1)
|
56
|
65
|
86
|
110
|
99
|
119
|
108
|
125
|
157
|
160
|
157
|
140
|
128
|
105
|
102
|
122
|
|
Pre-Tax Income |
4 827
N/A
|
4 525
-6%
|
4 624
+2%
|
5 013
+8%
|
5 702
+14%
|
5 375
-6%
|
5 497
+2%
|
5 493
0%
|
5 192
-5%
|
5 710
+10%
|
5 555
-3%
|
5 577
+0%
|
6 307
+13%
|
6 349
+1%
|
6 489
+2%
|
6 583
+1%
|
6 031
-8%
|
6 072
+1%
|
6 499
+7%
|
6 773
+4%
|
7 140
+5%
|
7 124
0%
|
7 317
+3%
|
7 388
+1%
|
7 511
+2%
|
7 432
-1%
|
6 963
-6%
|
6 467
-7%
|
6 125
-5%
|
7 032
+15%
|
7 322
+4%
|
7 823
+7%
|
8 210
+5%
|
8 249
+0%
|
9 495
+15%
|
10 148
+7%
|
10 505
+4%
|
10 300
-2%
|
11 436
+11%
|
12 095
+6%
|
12 606
+4%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(1 772)
|
(1 705)
|
(1 652)
|
(1 716)
|
(1 978)
|
(2 146)
|
(2 135)
|
(2 260)
|
(2 123)
|
(2 185)
|
(1 877)
|
(1 796)
|
(1 964)
|
(1 618)
|
(1 733)
|
(1 732)
|
(1 616)
|
(1 419)
|
(1 695)
|
(1 803)
|
(1 870)
|
(2 055)
|
(2 080)
|
(2 067)
|
(2 047)
|
(1 920)
|
(1 780)
|
(1 553)
|
(1 499)
|
(1 887)
|
(1 949)
|
(2 112)
|
(2 227)
|
(2 164)
|
(2 510)
|
(2 758)
|
(2 877)
|
(2 675)
|
(3 113)
|
(3 015)
|
(2 865)
|
|
Income from Continuing Operations |
3 055
|
2 820
|
2 972
|
3 297
|
3 724
|
3 229
|
3 362
|
3 233
|
3 069
|
3 525
|
3 678
|
3 781
|
4 343
|
4 731
|
4 756
|
4 851
|
4 415
|
4 653
|
4 804
|
4 970
|
5 270
|
5 069
|
5 237
|
5 321
|
5 464
|
5 512
|
5 183
|
4 914
|
4 626
|
5 145
|
5 373
|
5 711
|
5 983
|
6 085
|
6 985
|
7 390
|
7 628
|
7 625
|
8 323
|
9 080
|
9 741
|
|
Income to Minority Interest |
(10)
|
(10)
|
(6)
|
(3)
|
(5)
|
(7)
|
(10)
|
(16)
|
(15)
|
(11)
|
(8)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(2)
|
0
|
0
|
(1)
|
(3)
|
(4)
|
(4)
|
(4)
|
(2)
|
(1)
|
2
|
3
|
2
|
8
|
6
|
9
|
11
|
5
|
3
|
(2)
|
(4)
|
(5)
|
(5)
|
(2)
|
(3)
|
|
Net Income (Common) |
3 045
N/A
|
2 809
-8%
|
2 967
+6%
|
3 293
+11%
|
3 718
+13%
|
3 222
-13%
|
3 352
+4%
|
3 216
-4%
|
3 054
-5%
|
3 512
+15%
|
3 667
+4%
|
3 777
+3%
|
4 339
+15%
|
4 726
+9%
|
4 752
+1%
|
4 845
+2%
|
4 412
-9%
|
4 654
+5%
|
4 804
+3%
|
4 969
+3%
|
5 266
+6%
|
5 064
-4%
|
5 231
+3%
|
5 317
+2%
|
5 462
+3%
|
5 510
+1%
|
5 185
-6%
|
4 917
-5%
|
4 628
-6%
|
5 153
+11%
|
5 380
+4%
|
5 721
+6%
|
5 994
+5%
|
6 090
+2%
|
6 987
+15%
|
7 386
+6%
|
7 623
+3%
|
7 619
0%
|
8 317
+9%
|
9 077
+9%
|
9 737
+7%
|
|
EPS (Diluted) |
62.14
N/A
|
57.32
-8%
|
60.55
+6%
|
67.2
+11%
|
75.87
+13%
|
65.37
-14%
|
68.4
+5%
|
65.63
-4%
|
62.32
-5%
|
71.26
+14%
|
74.83
+5%
|
77.08
+3%
|
88.55
+15%
|
95.91
+8%
|
96.97
+1%
|
98.87
+2%
|
90.04
-9%
|
94.46
+5%
|
97.51
+3%
|
100.86
+3%
|
106.89
+6%
|
102.91
-4%
|
106.95
+4%
|
108.71
+2%
|
111.68
+3%
|
112.66
+1%
|
106.02
-6%
|
100.54
-5%
|
94.63
-6%
|
105.8
+12%
|
112.78
+7%
|
120.6
+7%
|
126.71
+5%
|
128.38
+1%
|
147.7
+15%
|
156.14
+6%
|
161.15
+3%
|
161.07
0%
|
175.83
+9%
|
193.18
+10%
|
208.3
+8%
|