Income Statement Forval RealStraight Inc.

Stocks

9423

JP3826700001

Business Support Services

Market Closed - Japan Exchange 02:30:00 2026-10-05 EDT			5-day change	1st Jan Change
103.00 ^JPY	-0.96%		-2.83%	-5.50%

16-06-08	Forval Corporation cancelled the acquisition of 10.03% stake in Forval RealStraight Inc..	CI
15-06-08	Forval Corporation agreed to acquire 10.03% stake in Forval RealStraight Inc..	CI

3d61.IxwIjrrwUYZwxDqe4OZQWk--_nQNT_CC5m3rta4wGoY.GklEv9mhaLRAiFL2g4kTaHz5xxxiGofy0AfZ-tZUcN5RT2vN6IEa4zmqfw

Published financial data: FORVAL REALSTRAIGHT INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2017 (JPY)	2018 (JPY)	2019 (JPY)	2020 (JPY)	2026 (JPY)
Revenues	1.15B	1.28B	1.52B	1.75B	4.56B
Total Revenues	1.15B	1.28B	1.52B	1.75B	4.56B
Cost of Goods Sold, Total	532M	593M	733M	890M	2.92B
Gross Profit	614M	688M	784M	862M	1.64B
Selling General & Admin Expenses, Total	568M	632M	716M	784M	1.5B
Provision for Bad Debts	-	-	-	-	-
Depreciation & Amortization - (IS)	-	-	-	-	-
Other Operating Expenses, Total	568M	632M	716M	784M	1.5B
Operating Income	46M	56M	68M	78M	139M
Interest Expense, Total	-	-	-	-	-
Interest And Investment Income	-	-	-	-	2M
Net Interest Expenses	-	-	-	-	2M
Other Non Operating Income (Expenses)	0	0	1M	-	-
EBT, Excl. Unusual Items	46M	56M	69M	78M	141M
Gain (Loss) On Sale Of Investments	-	-	-	-	84M
Asset Writedown	-	-	-	-	-
Other Unusual Items	-	2M	-	18M	-
EBT, Incl. Unusual Items	46M	58M	69M	96M	225M
Income Tax Expense	-27M	-10M	-31M	35M	56M
Earnings From Continuing Operations	73M	68M	100M	61M	169M
Net Income to Company	73M	68M	100M	61M	169M
Net Income - (IS)	73M	68M	100M	61M	169M
Net Income to Common Incl Extra Items	73M	68M	100M	61M	169M
Net Income to Common Excl. Extra Items	73M	68M	100M	61M	169M
Per Share Items
Net EPS - Basic	3.12	2.91	4.27	2.6	6.97
Basic EPS - Continuing Operations	3.12	2.91	4.27	2.6	6.97
Basic Weighted Average Shares Outstanding	23.4M	23.4M	23.42M	23.43M	24.25M
Net EPS - Diluted	3.12	2.91	4.27	2.6	6.97
Diluted EPS - Continuing Operations	3.12	2.91	4.27	2.6	6.97
Diluted Weighted Average Shares Outstanding	23.4M	23.49M	23.45M	23.43M	24.25M
Normalized Basic EPS	1.23	1.5	1.84	2.08	3.63
Normalized Diluted EPS	1.23	1.49	1.84	2.08	3.63
Dividend Per Share	1	1.2	1.4	1.6	2.8
Payout Ratio	-	33.82	27	52.46	36.69
Supplemental Items
EBITDA	-	57M	70M	80M	148M
EBITA	46M	56M	68M	78M	139M
EBIT	46M	56M	68M	78M	139M
Effective Tax Rate - (Ratio)	-58.7	-17.24	-44.93	36.46	24.89
Normalized Net Income	28.75M	35M	43.12M	48.75M	88.12M
Non-Cash Pension Expense	5M	5M	6M	6M	12M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	74M
Selling and Marketing Expenses	-	-	-	-	74M
General and Administrative Expenses	45M	38M	38M	38M	-

Fiscal Period: March	2017 (JPY)	2018 (JPY)	2019 (JPY)	2020 (JPY)	2026 (JPY)
Assets
Cash And Equivalents	281M	273M	390M	382M	973M
Total Cash And Short Term Investments	281M	273M	390M	382M	973M
Accounts Receivable, Total	109M	142M	153M	240M	698M
Other Receivables	-	-	-	-	8M
Total Receivables	109M	142M	153M	240M	706M
Inventory	-	-	-	1M	45M
Prepaid Expenses	5M	7M	5M	7M	24M
Deferred Tax Assets Current	27M	38M	-	-	-
Other Current Assets, Total	5M	12M	7M	12M	30M
Total Current Assets	427M	472M	555M	642M	1.78B
Net Property Plant And Equipment	1M	5M	8M	7M	14M
Long-term Investments	8M	10M	14M	14M	27M
Other Intangibles, Total	1M	1M	2M	2M	10M
Deferred Tax Assets Long-Term	-	-	70M	34M	44M
Other Long-Term Assets, Total	2M	2M	1M	1M	1M
Total Assets	439M	490M	650M	700M	1.87B
Liabilities
Accounts Payable, Total	110M	103M	118M	161M	505M
Accrued Expenses, Total	51M	58M	71M	74M	144M
Short-term Borrowings	-	-	-	-	-
Current Income Taxes Payable	48M	49M	74M	74M	358M
Other Current Liabilities	29M	12M	32M	10M	121M
Total Current Liabilities	238M	222M	295M	319M	1.13B
Other Non Current Liabilities	-	1M	1M	2M	1M
Total Liabilities	238M	223M	296M	321M	1.13B
Common Stock, Total	53M	55M	55M	56M	107M
Additional Paid In Capital	19M	20M	21M	22M	72M
Retained Earnings	106M	151M	223M	252M	566M
Comprehensive Income and Other	23M	41M	55M	49M	-
Total Common Equity	201M	267M	354M	379M	745M
Total Equity	201M	267M	354M	379M	745M
Total Liabilities And Equity	439M	490M	650M	700M	1.87B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	23.4M	23.42M	23.42M	23.44M	24.24M
ECS Total Common Shares Outstanding	23.4M	23.42M	23.42M	23.44M	24.24M
Book Value / Share	8.59	11.4	15.11	16.17	30.73
Tangible Book Value	200M	266M	352M	377M	735M
Tangible Book Value Per Share	8.55	11.36	15.03	16.08	30.32
Total Debt	0	0	0	0	0
Net Debt	-281M	-273M	-390M	-382M	-973M
Inventories - Raw Materials, Total	-	-	-	1M	3M
Inventories - Work In Process, Total	-	-	-	-	41M
Inventories - Others	-	-	-	-	1M
Full Time Employees	51	56	66	69	114
Accumulated Allowance for Doubtful Accounts (Supple)	1M	-	-	-	2M

Fiscal Period: March	2017 (JPY)	2018 (JPY)	2019 (JPY)	2020 (JPY)	2026 (JPY)
Net Income	46M	58M	68M	96M	226M
Depreciation & Amortization - CF	-	1M	2M	2M	9M
Depreciation & Amortization, Total	-	1M	2M	2M	9M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-58M
Other Operating Activities, Total	2M	-	2M	1M	-39M
Change In Accounts Receivable	-44M	-31M	-11M	-87M	317M
Change In Inventories	-	-	-	-	-4M
Change In Accounts Payable	62M	-2M	42M	42M	-258M
Change in Other Net Operating Assets	17M	2M	40M	-30M	1M
Cash from Operations	83M	28M	143M	24M	194M
Capital Expenditure	-2M	-5M	-3M	-1M	-7M
Cash Acquisitions	-	-	-	-	-4M
Sale (Purchase) of Intangible assets	-1M	-	-1M	-	-1M
Investment in Marketable and Equity Securities, Total	-	-	-	-	92M
Other Investing Activities, Total	-1M	-10M	4M	-	-
Cash from Investing	-4M	-15M	0	-1M	80M
Short Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-	-	-	-	-
Issuance of Common Stock	-	1M	-	1M	-
Common Dividends Paid	-	-23M	-27M	-32M	-62M
Common & Preferred Stock Dividends Paid	-	-23M	-27M	-32M	-62M
Other Financing Activities, Total	-	1M	-	1M	-
Cash from Financing	-	-21M	-27M	-30M	-62M
Miscellaneous Cash Flow Adjustments	-	-	1M	-	-
Net Change in Cash	79M	-8M	117M	-7M	212M
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	-3M	-	-	-	39M
Levered Free Cash Flow	17.75M	-38M	148M	-21.25M	-
Unlevered Free Cash Flow	17.75M	-38M	148M	-21.25M	-
Change In Net Working Capital	8M	69M	-107M	71M	-
Net Debt Issued / Repaid	-	-	-	-	-

Fiscal Period: March	2017 (JPY)	2018 (JPY)	2019 (JPY)	2020 (JPY)	2026 (JPY)
Profitability
Return on Assets	7.9	7.53	7.46	7.22	-
Return on Total Capital	18.61	14.96	13.69	13.3	-
Return On Equity %	47.25	29.06	32.21	16.64	-
Return on Common Equity	47.25	29.06	32.21	16.64	-
Margin Analysis
Gross Profit Margin %	53.58	53.71	51.68	49.2	35.92
SG&A Margin	49.56	49.34	47.2	44.75	32.87
EBITDA Margin %	-	4.45	4.61	4.57	3.24
EBITA Margin %	4.01	4.37	4.48	4.45	3.05
EBIT Margin %	4.01	4.37	4.48	4.45	3.05
Income From Continuing Operations Margin %	6.37	5.31	6.59	3.48	3.7
Net Income Margin %	6.37	5.31	6.59	3.48	3.7
Net Avail. For Common Margin %	6.37	5.31	6.59	3.48	3.7
Normalized Net Income Margin	2.51	2.73	2.84	2.78	1.93
Levered Free Cash Flow Margin	1.55	-2.97	9.72	-1.21	-
Unlevered Free Cash Flow Margin	1.55	-2.97	9.72	-1.21	-
Asset Turnover
Asset Turnover	3.15	2.76	2.66	2.6	-
Fixed Assets Turnover	-	427	233.38	233.6	-
Receivables Turnover (Average Receivables)	13.1	10.21	10.28	8.92	-
Short Term Liquidity
Current Ratio	1.79	2.13	1.88	2.01	1.58
Quick Ratio	1.64	1.87	1.84	1.95	1.49
Operating Cash Flow to Current Liabilities	0.35	0.13	0.48	0.08	0.17
Days Sales Outstanding (Average Receivables)	27.87	35.76	35.49	41.05	-
Average Days Payable Outstanding	52.83	65.55	55.02	-	-
Long Term Solvency
Total Debt/Equity	-	-	-	-	-
Total Debt / Total Capital	-	-	-	-	-
Total Liabilities / Total Assets	54.21	45.51	45.54	45.86	60.25
EBIT / Interest Expense	-	-	-	-	-
EBITDA / Interest Expense	-	-	-	-	-
(EBITDA - Capex) / Interest Expense	-	-	-	-	-
Total Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	-	-4.79	-5.57	-4.78	-6.57
Total Debt / (EBITDA - Capex)	-	-	-	-	-
Net Debt / (EBITDA - Capex)	-	-5.25	-5.82	-4.84	-6.9
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	23.89	11.78	18.42	15.49	-
Gross Profit, 1 Yr. Growth %	24.8	12.05	13.95	9.95	-
EBITDA, 1 Yr. Growth %	-	-	22.81	14.29	-
EBITA, 1 Yr. Growth %	43.75	21.74	21.43	14.71	-
EBIT, 1 Yr. Growth %	43.75	21.74	21.43	14.71	-
Earnings From Cont. Operations, 1 Yr. Growth %	128.12	-6.85	47.06	-39	-
Net Income, 1 Yr. Growth %	128.12	-6.85	47.06	-39	-
Normalized Net Income, 1 Yr. Growth %	43.75	21.74	23.21	13.04	-
Diluted EPS Before Extra, 1 Yr. Growth %	127.37	-6.87	46.95	-39.01	-
Accounts Receivable, 1 Yr. Growth %	65.15	30.28	7.75	56.86	-
Net Property, Plant and Equip., 1 Yr. Growth %	-	400	60	-12.5	-
Total Assets, 1 Yr. Growth %	51.9	11.62	32.65	7.69	-
Tangible Book Value, 1 Yr. Growth %	85.19	33	32.33	7.1	-
Common Equity, 1 Yr. Growth %	86.11	32.84	32.58	7.06	-
Cash From Operations, 1 Yr. Growth %	937.5	-66.27	410.71	-83.22	-
Capital Expenditures, 1 Yr. Growth %	-	150	-40	-66.67	-
Levered Free Cash Flow, 1 Yr. Growth %	-297.22	-314.08	-488.16	-114.41	-
Unlevered Free Cash Flow, 1 Yr. Growth %	-297.22	-314.08	-488.16	-114.41	-
Dividend Per Share, 1 Yr. Growth %	-	20	16.67	14.29	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	29.25	17.68	15.05	16.95	-
Gross Profit, 2 Yr. CAGR %	41.19	18.25	13	11.93	-
EBITDA, 2 Yr. CAGR %	-	-	-	18.47	-
EBITA, 2 Yr. CAGR %	-	32.29	21.58	18.02	-
EBIT, 2 Yr. CAGR %	-	32.29	21.58	18.02	-
Earnings From Cont. Operations, 2 Yr. CAGR %	113.6	45.77	17.04	-5.29	-
Net Income, 2 Yr. CAGR %	113.6	45.77	17.04	-5.29	-
Normalized Net Income, 2 Yr. CAGR %	51.66	32.29	22.47	18.02	-
Diluted EPS Before Extra, 2 Yr. CAGR %	105.74	45.52	16.99	-5.33	-
Accounts Receivable, 2 Yr. CAGR %	28.51	46.68	18.48	30.01	-
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	182.84	18.32	-
Total Assets, 2 Yr. CAGR %	28.23	30.21	21.68	19.52	-
Tangible Book Value, 2 Yr. CAGR %	72.77	56.94	32.66	19.05	-
Common Equity, 2 Yr. CAGR %	73.21	57.23	32.71	19.14	-
Cash From Operations, 2 Yr. CAGR %	-31.33	87.08	31.26	-7.42	-
Capital Expenditures, 2 Yr. CAGR %	41.42	-	22.47	-55.28	-
Levered Free Cash Flow, 2 Yr. CAGR %	-66.31	105.48	188.27	-25.22	-
Unlevered Free Cash Flow, 2 Yr. CAGR %	-66.38	105.48	188.27	-25.22	-
Dividend Per Share, 2 Yr. CAGR %	-	-	18.32	15.47	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	26.58	23.14	17.93	15.2	-
Gross Profit, 3 Yr. CAGR %	38.12	30.72	16.8	11.97	-
EBITDA, 3 Yr. CAGR %	-	125.06	-	-	-
EBITA, 3 Yr. CAGR %	-6.35	-	28.56	19.25	-
EBIT, 3 Yr. CAGR %	-6.35	-	28.56	19.25	-
Earnings From Cont. Operations, 3 Yr. CAGR %	1.9	61.98	46.2	-5.81	-
Net Income, 3 Yr. CAGR %	1.9	61.98	46.2	-5.81	-
Normalized Net Income, 3 Yr. CAGR %	-5.78	40.95	29.19	19.25	-
Diluted EPS Before Extra, 3 Yr. CAGR %	-1.51	57.97	46	-5.84	-
Accounts Receivable, 3 Yr. CAGR %	13.27	29.1	32.35	30.1	-
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	91.29	-
Total Assets, 3 Yr. CAGR %	66.56	22.43	31.02	16.83	-
Tangible Book Value, 3 Yr. CAGR %	69.6	58.34	48.27	23.53	-
Common Equity, 3 Yr. CAGR %	69.88	58.54	48.55	23.54	-
Cash From Operations, 3 Yr. CAGR %	-10.3	-45.81	161.47	-33.87	-
Capital Expenditures, 3 Yr. CAGR %	25.99	71	-	-20.63	-
Levered Free Cash Flow, 3 Yr. CAGR %	-43.99	-37.6	154.01	6.18	-
Unlevered Free Cash Flow, 3 Yr. CAGR %	-43.99	-37.68	154.01	6.18	-
Dividend Per Share, 3 Yr. CAGR %	-	-	-	16.96	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	10.52	21.84	20.63	-
Gross Profit, 5 Yr. CAGR %	-	20.48	27.47	22.85	-
EBITDA, 5 Yr. CAGR %	-	6.3	6.54	74.11	-
EBITA, 5 Yr. CAGR %	-	4.01	3.96	-	-
EBIT, 5 Yr. CAGR %	-	4.01	3.96	-	-
Earnings From Cont. Operations, 5 Yr. CAGR %	-	12.34	7.7	30.69	-
Net Income, 5 Yr. CAGR %	-	12.34	7.7	30.69	-
Normalized Net Income, 5 Yr. CAGR %	-	4.01	4.64	31.28	-
Diluted EPS Before Extra, 5 Yr. CAGR %	-	6.35	5.51	28.72	-
Accounts Receivable, 5 Yr. CAGR %	-	13.02	15.33	29.46	-
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-3.58	-	-	-
Total Assets, 5 Yr. CAGR %	-	27.58	46.91	21.26	-
Tangible Book Value, 5 Yr. CAGR %	-	82.89	53.73	41.27	-
Common Equity, 5 Yr. CAGR %	-	66.29	53.9	41.42	-
Cash From Operations, 5 Yr. CAGR %	-	11.84	4.45	-32.87	-
Capital Expenditures, 5 Yr. CAGR %	-	20.11	24.57	0	-
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	7.87	-32.91	-
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	7.87	-32.97	-