Forval Telecom Inc
TSE:9445
Income Statement
Earnings Waterfall
Forval Telecom Inc
Revenue
|
24B
JPY
|
Cost of Revenue
|
-18.1B
JPY
|
Gross Profit
|
5.9B
JPY
|
Operating Expenses
|
-4.8B
JPY
|
Operating Income
|
1.1B
JPY
|
Other Expenses
|
-331.2m
JPY
|
Net Income
|
750.9m
JPY
|
Income Statement
Forval Telecom Inc
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 |
12 107
N/A
|
12 146
+0%
|
12 042
-1%
|
12 114
+1%
|
12 092
0%
|
12 385
+2%
|
12 650
+2%
|
13 073
+3%
|
13 528
+3%
|
13 842
+2%
|
14 305
+3%
|
14 446
+1%
|
14 683
+2%
|
15 050
+3%
|
15 121
+0%
|
15 366
+2%
|
15 589
+1%
|
15 684
+1%
|
16 053
+2%
|
16 688
+4%
|
17 547
+5%
|
18 347
+5%
|
19 175
+5%
|
20 108
+5%
|
20 763
+3%
|
21 280
+2%
|
21 502
+1%
|
21 601
+0%
|
21 481
-1%
|
21 730
+1%
|
21 588
-1%
|
21 493
0%
|
21 575
+0%
|
21 802
+1%
|
22 304
+2%
|
23 051
+3%
|
23 894
+4%
|
24 748
+4%
|
24 452
-1%
|
24 452
+0%
|
23 956
-2%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(9 572)
|
(9 527)
|
(9 333)
|
(9 264)
|
(9 101)
|
(9 220)
|
(9 224)
|
(9 346)
|
(9 527)
|
(9 701)
|
(9 990)
|
(10 123)
|
(10 316)
|
(10 461)
|
(10 555)
|
(10 733)
|
(10 894)
|
(10 927)
|
(11 166)
|
(11 528)
|
(12 090)
|
(12 563)
|
(13 050)
|
(13 672)
|
(14 049)
|
(14 683)
|
(15 041)
|
(15 321)
|
(15 482)
|
(16 004)
|
(15 917)
|
(15 866)
|
(15 959)
|
(15 854)
|
(16 486)
|
(17 656)
|
(18 620)
|
(19 499)
|
(19 107)
|
(18 643)
|
(18 097)
|
|
Gross Profit |
2 535
N/A
|
2 618
+3%
|
2 709
+3%
|
2 850
+5%
|
2 991
+5%
|
3 165
+6%
|
3 425
+8%
|
3 727
+9%
|
4 001
+7%
|
4 141
+4%
|
4 315
+4%
|
4 323
+0%
|
4 366
+1%
|
4 589
+5%
|
4 567
0%
|
4 633
+1%
|
4 696
+1%
|
4 757
+1%
|
4 887
+3%
|
5 160
+6%
|
5 458
+6%
|
5 784
+6%
|
6 125
+6%
|
6 436
+5%
|
6 715
+4%
|
6 597
-2%
|
6 461
-2%
|
6 280
-3%
|
5 998
-4%
|
5 726
-5%
|
5 672
-1%
|
5 627
-1%
|
5 616
0%
|
5 948
+6%
|
5 818
-2%
|
5 395
-7%
|
5 275
-2%
|
5 250
0%
|
5 345
+2%
|
5 809
+9%
|
5 859
+1%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(2 093)
|
(2 172)
|
(2 241)
|
(2 301)
|
(2 402)
|
(2 584)
|
(2 829)
|
(3 116)
|
(3 413)
|
(3 497)
|
(3 628)
|
(3 724)
|
(3 749)
|
(3 893)
|
(3 931)
|
(3 957)
|
(4 021)
|
(4 058)
|
(4 197)
|
(4 390)
|
(4 618)
|
(4 895)
|
(5 162)
|
(5 364)
|
(5 566)
|
(5 594)
|
(5 465)
|
(5 281)
|
(5 032)
|
(4 879)
|
(4 815)
|
(4 784)
|
(4 712)
|
(4 879)
|
(4 855)
|
(4 787)
|
(4 808)
|
(4 676)
|
(4 684)
|
(4 755)
|
(4 777)
|
|
Selling, General & Administrative |
(2 093)
|
(2 132)
|
(2 241)
|
(2 301)
|
(2 402)
|
(2 548)
|
(2 829)
|
(3 116)
|
(3 413)
|
(3 460)
|
(3 628)
|
(3 724)
|
(3 749)
|
(3 860)
|
(3 931)
|
(3 957)
|
(4 021)
|
(4 016)
|
(4 197)
|
(4 390)
|
(4 618)
|
(4 828)
|
(5 162)
|
(5 364)
|
(5 566)
|
(5 518)
|
(5 465)
|
(5 281)
|
(5 032)
|
(4 803)
|
(4 815)
|
(4 784)
|
(4 712)
|
(4 793)
|
(4 855)
|
(4 787)
|
(4 808)
|
(4 589)
|
(4 684)
|
(4 755)
|
(4 777)
|
|
Depreciation & Amortization |
0
|
(40)
|
0
|
0
|
0
|
(36)
|
0
|
0
|
0
|
(36)
|
0
|
0
|
0
|
(32)
|
0
|
0
|
0
|
(42)
|
0
|
0
|
0
|
(68)
|
0
|
0
|
0
|
(76)
|
0
|
0
|
0
|
(76)
|
0
|
0
|
0
|
(86)
|
0
|
0
|
0
|
(87)
|
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)
|
(0)
|
0
|
0
|
(0)
|
(0)
|
0
|
0
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
0
|
0
|
|
Operating Income |
442
N/A
|
446
+1%
|
468
+5%
|
549
+17%
|
590
+7%
|
582
-1%
|
596
+2%
|
611
+3%
|
589
-4%
|
645
+10%
|
687
+7%
|
599
-13%
|
618
+3%
|
696
+13%
|
636
-9%
|
676
+6%
|
675
0%
|
699
+4%
|
691
-1%
|
770
+11%
|
839
+9%
|
889
+6%
|
962
+8%
|
1 072
+11%
|
1 149
+7%
|
1 002
-13%
|
996
-1%
|
999
+0%
|
967
-3%
|
847
-12%
|
857
+1%
|
843
-2%
|
904
+7%
|
1 069
+18%
|
964
-10%
|
608
-37%
|
467
-23%
|
574
+23%
|
660
+15%
|
1 054
+60%
|
1 082
+3%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(6)
|
(9)
|
(31)
|
(39)
|
(44)
|
(44)
|
(33)
|
(24)
|
(19)
|
(17)
|
(17)
|
(16)
|
(12)
|
(12)
|
(14)
|
(16)
|
(19)
|
(19)
|
(19)
|
(23)
|
(24)
|
(28)
|
(29)
|
(27)
|
(29)
|
(31)
|
(32)
|
(32)
|
(31)
|
(30)
|
(29)
|
(27)
|
(24)
|
(22)
|
(20)
|
(18)
|
(17)
|
(16)
|
(15)
|
(15)
|
(14)
|
|
Non-Reccuring Items |
(67)
|
(72)
|
(56)
|
(19)
|
(24)
|
(16)
|
(13)
|
(12)
|
(5)
|
(16)
|
(15)
|
(15)
|
(14)
|
(1)
|
(0)
|
(1)
|
(1)
|
(0)
|
(2)
|
(2)
|
(2)
|
(10)
|
(10)
|
(10)
|
(55)
|
(2 290)
|
(2 288)
|
(2 288)
|
(2 243)
|
(6)
|
(8)
|
(8)
|
(7)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
71
|
71
|
|
Gain/Loss on Disposition of Assets |
0
|
0
|
0
|
(156)
|
(156)
|
(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
|
355
|
355
|
355
|
355
|
0
|
0
|
0
|
0
|
(14)
|
(18)
|
(13)
|
|
Total Other Income |
10
|
11
|
17
|
20
|
24
|
(126)
|
(126)
|
48
|
50
|
45
|
35
|
15
|
6
|
16
|
30
|
35
|
40
|
40
|
32
|
12
|
(13)
|
(61)
|
(73)
|
(67)
|
(55)
|
(6)
|
(59)
|
(123)
|
(150)
|
(163)
|
(126)
|
(71)
|
(39)
|
(45)
|
(1)
|
34
|
54
|
85
|
68
|
45
|
37
|
|
Pre-Tax Income |
379
N/A
|
376
-1%
|
399
+6%
|
356
-11%
|
389
+10%
|
395
+2%
|
424
+7%
|
623
+47%
|
615
-1%
|
657
+7%
|
690
+5%
|
583
-15%
|
597
+2%
|
700
+17%
|
652
-7%
|
694
+7%
|
694
0%
|
720
+4%
|
702
-2%
|
757
+8%
|
800
+6%
|
791
-1%
|
850
+8%
|
967
+14%
|
1 009
+4%
|
(1 324)
N/A
|
(1 383)
-4%
|
(1 444)
-4%
|
(1 458)
-1%
|
647
N/A
|
1 049
+62%
|
1 092
+4%
|
1 188
+9%
|
1 355
+14%
|
943
-30%
|
625
-34%
|
504
-19%
|
642
+27%
|
698
+9%
|
1 137
+63%
|
1 162
+2%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(99)
|
(102)
|
(150)
|
(34)
|
(80)
|
(89)
|
(97)
|
(248)
|
(232)
|
(214)
|
(233)
|
(182)
|
(189)
|
(235)
|
(219)
|
(229)
|
(227)
|
(233)
|
(208)
|
(191)
|
(204)
|
(199)
|
(215)
|
(306)
|
(330)
|
364
|
360
|
413
|
414
|
(190)
|
(347)
|
(375)
|
(391)
|
(481)
|
(333)
|
(249)
|
(228)
|
(263)
|
(282)
|
(411)
|
(412)
|
|
Income from Continuing Operations |
280
|
274
|
250
|
321
|
310
|
307
|
327
|
375
|
383
|
443
|
457
|
401
|
408
|
464
|
433
|
466
|
467
|
487
|
494
|
566
|
596
|
592
|
635
|
661
|
680
|
(960)
|
(1 023)
|
(1 031)
|
(1 044)
|
456
|
702
|
716
|
798
|
874
|
610
|
375
|
276
|
379
|
417
|
726
|
751
|
|
Income to Minority Interest |
(1)
|
(1)
|
(1)
|
(2)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(6)
|
(6)
|
(6)
|
(6)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
0
|
|
Net Income (Common) |
279
N/A
|
273
-2%
|
249
-9%
|
320
+29%
|
309
-3%
|
305
-1%
|
326
+7%
|
373
+15%
|
382
+2%
|
441
+16%
|
455
+3%
|
399
-12%
|
406
+2%
|
462
+14%
|
430
-7%
|
464
+8%
|
465
+0%
|
485
+4%
|
492
+1%
|
564
+15%
|
594
+5%
|
590
-1%
|
633
+7%
|
660
+4%
|
679
+3%
|
(961)
N/A
|
(1 023)
-6%
|
(1 032)
-1%
|
(1 044)
-1%
|
456
N/A
|
696
+53%
|
710
+2%
|
792
+11%
|
868
+10%
|
609
-30%
|
375
-39%
|
275
-27%
|
378
+37%
|
416
+10%
|
726
+74%
|
751
+3%
|
|
EPS (Diluted) |
16.73
N/A
|
16.05
-4%
|
14.88
-7%
|
19.13
+29%
|
18.47
-3%
|
18.28
-1%
|
19.49
+7%
|
22.33
+15%
|
22.85
+2%
|
26.42
+16%
|
27.25
+3%
|
23.9
-12%
|
24.33
+2%
|
27.68
+14%
|
25.77
-7%
|
27.77
+8%
|
27.84
+0%
|
29.05
+4%
|
29.45
+1%
|
33.79
+15%
|
35.57
+5%
|
35.33
-1%
|
37.95
+7%
|
39.54
+4%
|
40.67
+3%
|
-57.56
N/A
|
-61.27
-6%
|
-61.8
-1%
|
-62.53
-1%
|
27.32
N/A
|
41.7
+53%
|
42.56
+2%
|
47.42
+11%
|
52
+10%
|
36.45
-30%
|
22.39
-39%
|
16.43
-27%
|
22.6
+38%
|
24.85
+10%
|
43.34
+74%
|
44.81
+3%
|