Income Statement Innovation Inc.

Stocks

3970

JP3147900009

Internet Services

Market Closed - Japan Exchange 02:30:00 2026-10-05 EDT			5-day change	1st Jan Change
806.00 ^JPY	-0.62%		-3.12%	-14.16%

25-01-19	Innovation Inc. completed the acquisition of 51% stake in SHANON Inc..	CI
24-12-12	Innovation Inc. made an offer to acquire SHANON Inc. for ¥ 1.7 billion.	CI

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Published financial data: INNOVATION INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Revenues	4.38B	4.57B	4.81B	5.34B	6.97B
Total Revenues	4.38B	4.57B	4.81B	5.34B	6.97B
Cost of Goods Sold, Total	2.15B	2.56B	2.74B	3.03B	3.47B
Gross Profit	2.23B	2.01B	2.07B	2.31B	3.5B
Selling General & Admin Expenses, Total	1.45B	1.66B	1.66B	1.93B	3.7B
Provision for Bad Debts	-	-	-	11M	-
Depreciation & Amortization - (IS)	4M	6M	10M	14M	46M
Other Operating Expenses, Total	1.45B	1.67B	1.67B	1.96B	3.75B
Operating Income	778M	343M	400M	352M	-248M
Interest Expense, Total	-	-	-	-8M	-32M
Interest And Investment Income	2M	-	-	-	5M
Net Interest Expenses	2M	-	-	-8M	-27M
Other Non Operating Income (Expenses)	3M	1M	4M	-4M	-59M
EBT, Excl. Unusual Items	783M	344M	404M	340M	-334M
Gain (Loss) On Sale Of Investments	-20M	-56M	31M	-36M	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-1M
Asset Writedown	-4M	-94M	-	-	-26M
Other Unusual Items	-	-1M	-	-1M	17M
EBT, Incl. Unusual Items	759M	193M	435M	303M	-344M
Income Tax Expense	286M	169M	200M	237M	50M
Earnings From Continuing Operations	473M	24M	235M	66M	-394M
Net Income to Company	473M	24M	235M	66M	-394M
Minority Interest	-25M	38M	9M	1M	-63M
Net Income - (IS)	448M	62M	244M	67M	-457M
Net Income to Common Incl Extra Items	448M	62M	244M	67M	-457M
Net Income to Common Excl. Extra Items	448M	62M	244M	67M	-457M
Per Share Items
Net EPS - Basic	190.57	25.13	94.87	25.17	-171.42
Basic EPS - Continuing Operations	190.57	25.13	94.87	25.17	-171.42
Basic Weighted Average Shares Outstanding	2.35M	2.47M	2.57M	2.66M	2.67M
Net EPS - Diluted	189.28	25.13	94.19	25.17	-171.42
Diluted EPS - Continuing Operations	189.28	25.13	94.19	25.17	-171.42
Diluted Weighted Average Shares Outstanding	2.37M	2.49M	2.6M	2.67M	2.67M
Normalized Basic EPS	197.54	102.55	101.67	80.19	-101.94
Normalized Diluted EPS	196.2	101.41	100.73	79.95	-101.94
Dividend Per Share	38	39	40	40	40
Payout Ratio	-	146.77	40.16	159.7	-23.85
Supplemental Items
EBITDA	823M	404M	456M	422M	205M
EBITA	778M	343M	400M	352M	-105M
EBIT	778M	343M	400M	352M	-248M
Effective Tax Rate - (Ratio)	37.68	87.56	45.98	78.22	-14.53
Normalized Net Income	464M	253M	262M	214M	-272M
Supplemental Operating Expense Items
General and Administrative Expenses	176M	176M	185M	162M	183M
Research And Development Expense From Footnotes	44M	50M	57M	122M	82M

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Assets
Cash And Equivalents	2.18B	2.3B	3.28B	3.58B	3.26B
Total Cash And Short Term Investments	2.18B	2.3B	3.28B	3.58B	3.26B
Accounts Receivable, Total	704M	586M	861M	1.08B	1.01B
Other Receivables	-	139M	7M	-	108M
Total Receivables	704M	725M	868M	1.08B	1.11B
Inventory	-	-	-	38M	21M
Prepaid Expenses	54M	39M	45M	201M	229M
Other Current Assets, Total	76M	25M	20M	78M	86M
Total Current Assets	3.01B	3.08B	4.21B	4.98B	4.71B
Net Property Plant And Equipment	19M	16M	31M	74M	121M
Long-term Investments	424M	414M	157M	314M	231M
Goodwill	-	-	-	1.44B	1.29B
Other Intangibles, Total	215M	178M	189M	1.45B	1.43B
Loans Receivable Long-Term	3M	-	-	-	-
Deferred Tax Assets Long-Term	92M	100M	86M	70M	55M
Deferred Charges Long-Term	-	-	-	1M	-
Other Long-Term Assets, Total	2M	3M	2M	2M	2M
Total Assets	3.77B	3.8B	4.68B	8.32B	7.85B
Liabilities
Accounts Payable, Total	183M	156M	282M	262M	254M
Accrued Expenses, Total	174M	177M	197M	206M	284M
Short-term Borrowings	-	-	-	2.2B	20M
Current Portion of Long-Term Debt	-	-	99M	225M	558M
Current Income Taxes Payable	195M	57M	108M	132M	99M
Other Current Liabilities	175M	202M	198M	723M	826M
Total Current Liabilities	727M	592M	884M	3.75B	2.04B
Long-Term Debt	-	-	200M	175M	1.83B
Deferred Tax Liability Non Current	-	-	-	287M	270M
Other Non Current Liabilities	21M	23M	28M	45M	53M
Total Liabilities	748M	615M	1.11B	4.26B	4.2B
Common Stock, Total	1B	1.11B	1.21B	1.24B	415M
Additional Paid In Capital	981M	1.09B	1.19B	1.17B	2.02B
Retained Earnings	1.04B	1B	1.15B	1.11B	539M
Treasury Stock	-37M	-31M	-25M	-89M	-81M
Comprehensive Income and Other	-6M	-14M	3M	-41M	2M
Total Common Equity	2.98B	3.16B	3.53B	3.39B	2.9B
Minority Interest	42M	18M	39M	680M	750M
Total Equity	3.02B	3.18B	3.57B	4.07B	3.65B
Total Liabilities And Equity	3.77B	3.8B	4.68B	8.32B	7.85B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.47M	2.56M	2.68M	2.65M	2.69M
ECS Total Common Shares Outstanding	2.36M	2.49M	2.65M	2.65M	2.69M
Book Value / Share	1.26K	1.27K	1.33K	1.28K	1.08K
Tangible Book Value	2.76B	2.98B	3.34B	501M	175M
Tangible Book Value Per Share	1.17K	1.2K	1.26K	189.32	65.1
Total Debt	0	0	299M	2.6B	2.41B
Net Debt	-2.18B	-2.3B	-2.98B	-976M	-852M
Minority Interest, Total (Incl. Fin. Div)	42M	18M	39M	680M	750M
Equity Method Investments, Total	6M	15M	15M	15M	15M
Inventories - Work In Process, Total	-	-	-	38M	21M
Full Time Employees	147	167	157	394	333
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	3M	3M

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Net Income	759M	193M	435M	302M	-344M
Depreciation & Amortization - CF	45M	61M	56M	70M	310M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	143M
Depreciation & Amortization, Total	45M	61M	56M	70M	453M
(Gain) Loss From Sale Of Asset	4M	95M	-	-	27M
(Gain) Loss on Sale of Investments - (CF)	20M	56M	-31M	36M	-
Other Operating Activities, Total	-237M	-329M	9M	-173M	-230M
Change In Accounts Receivable	-203M	191M	-275M	-3M	70M
Change In Inventories	-	-	-	-	14M
Change In Accounts Payable	53M	-30M	141M	-118M	-11M
Change in Other Net Operating Assets	25M	-124M	10M	-41M	335M
Cash from Operations	466M	113M	345M	73M	314M
Capital Expenditure	-1M	-5M	-5M	-31M	-98M
Cash Acquisitions	-	-15M	-	-1.56B	-
Sale (Purchase) of Intangible assets	-127M	-108M	-64M	-79M	-286M
Investment in Marketable and Equity Securities, Total	-154M	-60M	313M	-32M	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-7M	7M	-
Other Investing Activities, Total	-1M	-3M	-1M	-1M	86M
Cash from Investing	-283M	-191M	236M	-1.7B	-298M
Short Term Debt Issued, Total	-	-	-	2.2B	50M
Long-Term Debt Issued, Total	-	-	300M	-	2.55B
Total Debt Issued	-	-	300M	2.2B	2.6B
Short Term Debt Repaid, Total	-	-	-	-	-2.23B
Long-Term Debt Repaid, Total	-	-	-	-99M	-558M
Total Debt Repaid	-	-	-	-99M	-2.79B
Issuance of Common Stock	-	207M	171M	39M	13M
Repurchase of Common Stock	-	-	-	-76M	-
Common Dividends Paid	-	-91M	-98M	-107M	-109M
Common & Preferred Stock Dividends Paid	-	-91M	-98M	-107M	-109M
Other Financing Activities, Total	-	15M	30M	-35M	-49M
Cash from Financing	-	131M	403M	1.92B	-332M
Foreign Exchange Rate Adjustments	-	-	-	-	3M
Miscellaneous Cash Flow Adjustments	-1M	60M	1M	-	1M
Net Change in Cash	182M	113M	985M	296M	-312M
Supplemental Items
Cash Interest Paid	-	-	-	8M	34M
Cash Income Tax Paid (Refund)	240M	329M	-7M	174M	228M
Levered Free Cash Flow	295M	72.38M	286M	247M	-17M
Unlevered Free Cash Flow	295M	72.38M	286M	252M	3M
Change In Net Working Capital	108M	90M	-49M	-72M	-89M
Net Debt Issued / Repaid	-	-	300M	2.1B	-187M

Fiscal Period: March	2022 (JPY)	2023 (JPY)	2024 (JPY)	2025 (JPY)	2026 (JPY)
Profitability
Return on Assets	14.08	5.67	5.9	3.38	-1.92
Return on Total Capital	17.52	6.91	7.1	4.18	-2.44
Return On Equity %	17.04	0.77	6.97	1.73	-10.21
Return on Common Equity	16.31	2.02	7.3	1.94	-14.54
Margin Analysis
Gross Profit Margin %	50.96	44.05	43.05	43.25	50.23
SG&A Margin	33.1	36.41	34.53	36.2	53.13
EBITDA Margin %	18.79	8.84	9.47	7.9	2.94
EBITA Margin %	17.76	7.51	8.31	6.59	-1.51
EBIT Margin %	17.76	7.51	8.31	6.59	-3.56
Income From Continuing Operations Margin %	10.8	0.53	4.88	1.24	-5.65
Net Income Margin %	10.23	1.36	5.07	1.25	-6.56
Net Avail. For Common Margin %	10.23	1.36	5.07	1.25	-6.56
Normalized Net Income Margin	10.6	5.54	5.43	4	-3.9
Levered Free Cash Flow Margin	6.74	1.58	5.94	4.62	-0.24
Unlevered Free Cash Flow Margin	6.74	1.58	5.94	4.72	0.04
Asset Turnover
Asset Turnover	1.27	1.21	1.14	0.82	0.86
Fixed Assets Turnover	213.66	261.14	204.81	101.77	71.47
Receivables Turnover (Average Receivables)	7.28	7.09	6.65	5.5	6.67
Inventory Turnover (Average Inventory)	-	-	-	-	117.56
Short Term Liquidity
Current Ratio	4.15	5.21	4.77	1.33	2.31
Quick Ratio	3.97	5.1	4.69	1.24	2.15
Operating Cash Flow to Current Liabilities	0.64	0.19	0.39	0.02	0.15
Days Sales Outstanding (Average Receivables)	50.17	51.52	55.02	66.37	54.69
Days Outstanding Inventory (Average Inventory)	-	-	-	-	3.1
Average Days Payable Outstanding	29.57	24.2	29.24	-	27.29
Cash Conversion Cycle (Average Days)	-	-	-	-	30.5
Long Term Solvency
Total Debt/Equity	-	-	8.38	63.94	66.08
Total Debt / Total Capital	-	-	7.74	39	39.79
LT Debt/Equity	-	-	5.61	4.3	50.25
Long-Term Debt / Total Capital	-	-	5.17	2.63	30.25
Total Liabilities / Total Assets	19.85	16.21	23.77	51.14	53.49
EBIT / Interest Expense	-	-	-	44	-7.75
EBITDA / Interest Expense	-	-	-	52.75	6.41
(EBITDA - Capex) / Interest Expense	-	-	-	48.88	3.34
Total Debt / EBITDA	-	-	0.66	6.16	11.77
Net Debt / EBITDA	-2.65	-5.68	-6.54	-2.31	-4.16
Total Debt / (EBITDA - Capex)	-	-	0.66	6.65	22.54
Net Debt / (EBITDA - Capex)	-2.65	-5.75	-6.61	-2.5	-7.96
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	42.07	4.34	5.32	11.01	30.41
Gross Profit, 1 Yr. Growth %	43.81	-9.81	2.93	11.53	51.45
EBITDA, 1 Yr. Growth %	48.29	-50.91	12.87	-7.46	-51.42
EBITA, 1 Yr. Growth %	49.04	-55.91	16.62	-12	-129.83
EBIT, 1 Yr. Growth %	50.19	-55.91	16.62	-12	-170.45
Earnings From Cont. Operations, 1 Yr. Growth %	56.11	-94.93	879.17	-71.91	-696.97
Net Income, 1 Yr. Growth %	52.9	-86.16	293.55	-72.54	-782.09
Normalized Net Income, 1 Yr. Growth %	47.13	-45.52	3.36	-18.36	-227.28
Diluted EPS Before Extra, 1 Yr. Growth %	41.43	-86.72	274.81	-73.28	-781.18
Accounts Receivable, 1 Yr. Growth %	40.8	-16.76	46.93	25.67	-7.02
Inventory, 1 Yr. Growth %	-	-	-	-	-44.74
Net Property, Plant and Equip., 1 Yr. Growth %	-13.64	-15.79	93.75	138.71	63.51
Total Assets, 1 Yr. Growth %	20.15	0.69	23.27	77.88	-5.68
Tangible Book Value, 1 Yr. Growth %	16.09	7.96	11.86	-84.99	-65.07
Common Equity, 1 Yr. Growth %	18.5	6.14	11.54	-4	-14.35
Cash From Operations, 1 Yr. Growth %	10.43	-75.75	205.31	-78.84	330.14
Capital Expenditures, 1 Yr. Growth %	-91.67	400	0	520	216.13
Levered Free Cash Flow, 1 Yr. Growth %	7.07	-75.49	295.16	-13.64	-106.88
Unlevered Free Cash Flow, 1 Yr. Growth %	7.07	-75.49	295.16	-11.89	-98.81
Dividend Per Share, 1 Yr. Growth %	-	2.63	2.56	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	47.18	21.75	4.83	8.13	20.32
Gross Profit, 2 Yr. CAGR %	51.93	13.89	-3.65	7.15	29.97
EBITDA, 2 Yr. CAGR %	100.86	-14.68	-25.56	2.2	-32.95
EBITA, 2 Yr. CAGR %	109.06	-18.94	-28.3	1.3	-48.77
EBIT, 2 Yr. CAGR %	110.85	-18.63	-28.3	1.3	-21.26
Earnings From Cont. Operations, 2 Yr. CAGR %	126.74	-71.86	-29.51	65.83	29.48
Net Income, 2 Yr. CAGR %	120.67	-54	-26.2	3.95	36.86
Normalized Net Income, 2 Yr. CAGR %	107.84	-10.47	-24.96	-8.14	1.94
Diluted EPS Before Extra, 2 Yr. CAGR %	101.17	-56.67	-29.46	0.07	34.91
Accounts Receivable, 2 Yr. CAGR %	61.18	8.26	10.59	35.88	8.09
Net Property, Plant and Equip., 2 Yr. CAGR %	0	-14.72	27.73	115.06	97.57
Total Assets, 2 Yr. CAGR %	68.98	9.99	11.41	48.08	29.52
Tangible Book Value, 2 Yr. CAGR %	87.64	11.95	9.89	-59.02	-77.1
Common Equity, 2 Yr. CAGR %	78.59	12.15	8.81	3.48	-9.32
Cash From Operations, 2 Yr. CAGR %	33.37	-48.25	-13.96	-19.62	-4.6
Capital Expenditures, 2 Yr. CAGR %	-55.28	-35.45	123.61	149	342.72
Levered Free Cash Flow, 2 Yr. CAGR %	18.19	-48.77	-1.58	84.74	-75.62
Unlevered Free Cash Flow, 2 Yr. CAGR %	18.19	-48.77	-1.58	86.6	-89.76
Dividend Per Share, 2 Yr. CAGR %	-	-	2.6	1.27	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	43.35	31.23	16.01	6.85	15.1
Gross Profit, 3 Yr. CAGR %	48.98	27.68	10.11	1.17	20.25
EBITDA, 3 Yr. CAGR %	195.18	25.58	-6.34	-19.96	-20.24
EBITA, 3 Yr. CAGR %	264.99	24.44	-8.49	-23.23	-32.6
EBIT, 3 Yr. CAGR %	264.99	25.15	-8.26	-23.23	-10.25
Earnings From Cont. Operations, 3 Yr. CAGR %	289.57	-36.1	-8.12	-48.13	154.15
Net Income, 3 Yr. CAGR %	282.59	-12.33	-5.92	-46.92	94.61
Normalized Net Income, 3 Yr. CAGR %	252.25	33.02	-6.08	-22.82	2.41
Diluted EPS Before Extra, 3 Yr. CAGR %	259.52	-18.7	-11.05	-48.96	89.65
Accounts Receivable, 3 Yr. CAGR %	45.83	29.31	19.86	15.4	19.74
Net Property, Plant and Equip., 3 Yr. CAGR %	10.72	-5.57	12.11	57.34	96.29
Total Assets, 3 Yr. CAGR %	50.08	42.19	14.25	30.21	27.4
Tangible Book Value, 3 Yr. CAGR %	50.43	56.07	11.92	-43.41	-61.15
Common Equity, 3 Yr. CAGR %	50.84	50.15	11.95	4.36	-2.84
Cash From Operations, 3 Yr. CAGR %	272.72	-24.45	-6.49	-46.09	40.59
Capital Expenditures, 3 Yr. CAGR %	-37	0	-25.31	214.14	169.62
Levered Free Cash Flow, 3 Yr. CAGR %	-	-30.04	1.22	-5.77	-38.3
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-30.04	1.22	-5.14	-65.39
Dividend Per Share, 3 Yr. CAGR %	-	-	-	1.72	0.85
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	26.48	21.45	17.71
Gross Profit, 5 Yr. CAGR %	-	-	25.15	19.04	17.66
EBITDA, 5 Yr. CAGR %	-	-	70.12	15.65	-18.06
EBITA, 5 Yr. CAGR %	-	-	90.37	14.61	-27.44
EBIT, 5 Yr. CAGR %	-	-	90.37	15	-13.7
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	96.61	-6.43	5.39
Net Income, 5 Yr. CAGR %	-	-	98.09	-6.14	9.3
Normalized Net Income, 5 Yr. CAGR %	-	-	89.77	14.71	-2.95
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	87.42	-11.66	5.08
Accounts Receivable, 5 Yr. CAGR %	-	-	30.56	31.9	15.01
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	17.23	31.25	40.63
Total Assets, 5 Yr. CAGR %	-	-	33.22	44.52	20.13
Tangible Book Value, 5 Yr. CAGR %	-	-	32.67	-8.59	-40.67
Common Equity, 5 Yr. CAGR %	-	-	32.37	29.38	2.9
Cash From Operations, 5 Yr. CAGR %	-	-	107.36	-22.55	-5.74
Capital Expenditures, 5 Yr. CAGR %	-	-	4.56	44.04	52.2
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	3.16	-42.72
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	3.58	-59.51