Income Statement PIA Corporation

Equities

4337

JP3801570007

Leisure & Recreation

Market Closed - Japan Exchange Other stock markets 02:30:00 2025-07-17 EDT			5-day change	1st Jan Change
2,918.00 ^JPY	+0.34%		+3.11%	-7.22%

06-23	PIA Corporation Announces Changes in Executive Structure, Effective June 21, 2025	CI
05-15	PIA Corporation Announces Retirement of Director, Atsuki Ishida as of June 21, 2025	CI

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Published financial data: PIA CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	67.36B	25.83B	32.76B	39.59B	45.36B
Total Revenues	67.36B	25.83B	32.76B	39.59B	45.36B
Cost of Goods Sold, Total	63.76B	17.48B	20.81B	25.89B	28.43B
Gross Profit	3.6B	8.35B	11.95B	13.7B	16.94B
Selling General & Admin Expenses, Total	9.85B	9.12B	11.09B	12.37B	14.13B
Provision for Bad Debts	-69M	20M	-37M	45M	106M
Depreciation & Amortization - (IS)	49M	42M	82M	76M	68M
Other Operating Expenses, Total	9.83B	9.18B	11.13B	12.49B	14.3B
Operating Income	-6.23B	-833M	820M	1.21B	2.64B
Interest Expense, Total	-147M	-360M	-237M	-174M	-278M
Interest And Investment Income	10M	8M	9M	10M	17M
Net Interest Expenses	-137M	-352M	-228M	-164M	-261M
Income (Loss) On Equity Invest.	-75M	-127M	-52M	-145M	61M
Other Non Operating Income (Expenses)	435M	467M	61M	21M	-59M
EBT, Excl. Unusual Items	-6.01B	-845M	601M	923M	2.38B
Gain (Loss) On Sale Of Investments	-16M	-	649M	146M	-377M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-10M	-471M	-	-172M	-88M
Other Unusual Items	-132M	-	-	-1M	-4M
EBT, Incl. Unusual Items	-6.17B	-1.32B	1.25B	896M	1.91B
Income Tax Expense	506M	-191M	-165M	-219M	317M
Earnings From Continuing Operations	-6.67B	-1.12B	1.42B	1.12B	1.59B
Net Income to Company	-6.67B	-1.12B	1.42B	1.12B	1.59B
Minority Interest	8M	3M	-	3M	-
Net Income - (IS)	-6.66B	-1.12B	1.42B	1.12B	1.59B
Net Income to Common Incl Extra Items	-6.66B	-1.12B	1.42B	1.12B	1.59B
Net Income to Common Excl. Extra Items	-6.66B	-1.12B	1.42B	1.12B	1.59B
Per Share Items
Net EPS - Basic	-479.01	-74.14	92.72	73.22	104.01
Basic EPS - Continuing Operations	-479.01	-74.14	92.72	73.22	104.01
Basic Weighted Average Shares Outstanding	13.91M	15.13M	15.26M	15.27M	15.3M
Net EPS - Diluted	-479.01	-74.14	92.72	73.22	104.01
Diluted EPS - Continuing Operations	-479.01	-74.14	92.72	73.22	104.01
Diluted Weighted Average Shares Outstanding	13.91M	15.13M	15.26M	15.27M	15.3M
Normalized Basic EPS	-269.34	-34.7	24.61	37.98	97.12
Normalized Diluted EPS	-269.34	-34.7	24.61	37.98	97.12
Dividend Per Share	-	-	-	-	-
Payout Ratio	-1.02	-	-	-	-
Supplemental Items
EBITDA	-4.24B	1.77B	3.17B	3.71B	5.29B
EBITA	-6.23B	-833M	820M	1.21B	2.64B
EBIT	-6.23B	-833M	820M	1.21B	2.64B
EBITDAR	-3.62B	2.42B	3.82B	4.42B	6.04B
Effective Tax Rate - (Ratio)	-8.21	14.51	-13.2	-24.44	16.61
Normalized Net Income	-3.75B	-525M	376M	580M	1.49B
Non-Cash Pension Expense	4M	5M	1M	1M	1M
Supplemental Operating Expense Items
Advertising Expense	393M	488M	736M	842M	913M
Selling and Marketing Expenses	1.34B	568M	803M	908M	982M
General and Administrative Expenses	264M	258M	398M	512M	582M
Net Rental Expense, Total	618M	644M	651M	713M	750M
Imputed Operating Lease Interest Expense	35.71M	69.79M	53.36M	49.8M	92.02M
Imputed Operating Lease Depreciation	582M	574M	598M	663M	658M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	15.14B	24.36B	26.36B	33.92B	46.3B
Total Cash And Short Term Investments	15.14B	24.36B	26.36B	33.92B	46.3B
Accounts Receivable, Total	10.38B	15.67B	21.6B	28.79B	27.75B
Other Receivables	34M	-	40M	-	-
Total Receivables	10.41B	15.67B	21.64B	28.79B	27.75B
Inventory	129M	78M	77M	91M	119M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	5.23B	2.75B	3.29B	4.01B	5.5B
Total Current Assets	30.91B	42.85B	51.36B	66.81B	79.66B
Net Property Plant And Equipment	13.03B	12.26B	12.66B	12.21B	11.63B
Long-term Investments	3.91B	3.67B	4.14B	4.51B	4.01B
Other Intangibles, Total	4.88B	5.54B	6.14B	5.91B	5.95B
Deferred Tax Assets Long-Term	55M	280M	495M	823M	889M
Other Long-Term Assets, Total	2M	2M	1M	2M	2M
Total Assets	52.78B	64.6B	74.8B	90.27B	102B
Liabilities
Accounts Payable, Total	15.61B	28.75B	40.37B	54.69B	60.2B
Accrued Expenses, Total	4M	70M	212M	225M	581M
Short-term Borrowings	5B	2.5B	-	-	-
Current Portion of Long-Term Debt	565M	1.32B	9.06B	1.02B	1.02B
Current Income Taxes Payable	1.74B	2.42B	2.47B	3.35B	5.58B
Other Current Liabilities	3.45B	3.68B	4.31B	5.81B	8.88B
Total Current Liabilities	26.37B	38.73B	56.43B	65.09B	76.26B
Long-Term Debt	22.54B	21.22B	12.16B	17.62B	16.6B
Pension & Other Post Retirement Benefits	118M	98M	59M	84M	88M
Deferred Tax Liability Non Current	113M	-	-	-	-
Other Non Current Liabilities	1.74B	1.74B	1.79B	1.93B	1.96B
Total Liabilities	50.88B	61.79B	70.44B	84.73B	94.91B
Common Stock, Total	4.92B	5.94B	5.96B	6.44B	6.47B
Additional Paid In Capital	1.09B	2.1B	2.13B	2.61B	2.63B
Retained Earnings	-3.9B	-5B	-3.58B	-2.46B	-874M
Treasury Stock	-216M	-216M	-166M	-1.06B	-987M
Comprehensive Income and Other	-45M	-24M	9M	18M	-6M
Total Common Equity	1.85B	2.81B	4.35B	5.54B	7.24B
Minority Interest	57M	-	3M	-	3M
Total Equity	1.91B	2.81B	4.35B	5.54B	7.24B
Total Liabilities And Equity	52.78B	64.6B	74.8B	90.27B	102B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	14.57M	15.25M	15.27M	15.28M	15.31M
ECS Total Common Shares Outstanding	14.57M	15.25M	15.27M	15.28M	15.31M
Book Value / Share	127.12	184.13	284.91	362.86	472.46
Tangible Book Value	-3.03B	-2.73B	-1.79B	-370M	1.28B
Tangible Book Value Per Share	-207.84	-178.95	-117.44	-24.22	83.85
Total Debt	28.1B	25.04B	21.22B	18.63B	17.62B
Net Debt	12.97B	679M	-5.13B	-15.28B	-28.68B
Debt Equivalent of Unfunded Proj. Benefit Obligation	118M	98M	60M	84M	88M
Debt Equivalent Oper. Leases	4.94B	5.15B	5.21B	5.7B	6B
Minority Interest, Total (Incl. Fin. Div)	57M	-	3M	-	3M
Inventories - Raw Materials, Total	10M	7M	7M	6M	7M
Inventories - Work In Process, Total	2M	4M	-	5M	-
Inventories - Finished Goods, Total	117M	67M	68M	78M	111M
Inventories - Others	-	-	2M	2M	1M
Full Time Employees	332	342	331	448	517
Accumulated Allowance for Doubtful Accounts (Supple)	71M	49M	14M	23M	28M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	-6.17B	-1.32B	1.25B	895M	1.91B
Depreciation & Amortization - CF	1.99B	2.61B	2.35B	2.5B	2.66B
Depreciation & Amortization, Total	1.99B	2.61B	2.35B	2.5B	2.66B
(Gain) Loss From Sale Of Asset	10M	471M	-	172M	88M
(Gain) Loss on Sale of Investments - (CF)	16M	-	-649M	-146M	377M
(Income) Loss On Equity Investments - (CF)	75M	127M	52M	145M	-61M
Other Operating Activities, Total	861M	674M	-79M	84M	-177M
Change In Accounts Receivable	1.26B	-5.27B	-5.89B	-7.2B	1.04B
Change In Inventories	15M	50M	2M	-13M	-28M
Change In Accounts Payable	-17.45B	13.28B	11.98B	15.03B	7.17B
Change in Other Net Operating Assets	-2.47B	2.43B	339M	914M	2.36B
Cash from Operations	-21.86B	13.06B	9.36B	12.38B	15.34B
Capital Expenditure	-2.12B	-148M	-1.28B	-368M	-174M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-410M	-	-224M	-	126M
Divestitures	-	-	585M	-	-
Sale (Purchase) of Intangible assets	-1.36B	-2.45B	-2.23B	-1.46B	-1.76B
Investment in Marketable and Equity Securities, Total	-	-	-336M	136M	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-175M	-42M	-1M	-	-50M
Other Investing Activities, Total	-98M	-59M	-74M	-528M	-77M
Cash from Investing	-4.16B	-2.7B	-3.56B	-2.22B	-1.93B
Short Term Debt Issued, Total	1.9B	-	-	-	-
Long-Term Debt Issued, Total	13.9B	-	-	7B	417M
Total Debt Issued	15.8B	-	-	7B	417M
Short Term Debt Repaid, Total	-	-2.5B	-2.5B	-	-
Long-Term Debt Repaid, Total	-294M	-565M	-1.32B	-9.59B	-1.43B
Total Debt Repaid	-294M	-3.06B	-3.82B	-9.59B	-1.43B
Issuance of Common Stock	2.22B	2B	20M	896M	-
Repurchase of Common Stock	-	-	-	-896M	-
Common & Preferred Stock Dividends Paid	-68M	-	-	-	-
Common & Preferred Stock Dividends Paid	-68M	-	-	-	-
Other Financing Activities, Total	-376M	-66M	-2M	-6M	-7M
Cash from Financing	17.28B	-1.13B	-3.8B	-2.6B	-1.02B
Foreign Exchange Rate Adjustments	2M	1M	1M	-	-
Miscellaneous Cash Flow Adjustments	1M	-1M	-1M	-	-1M
Net Change in Cash	-8.73B	9.22B	1.99B	7.56B	12.38B
Supplemental Items
Cash Interest Paid	124M	369M	234M	183M	288M
Cash Income Tax Paid (Refund)	-226M	-9M	227M	25M	122M
Levered Free Cash Flow	-24.82B	10.66B	5.14B	10.14B	12.9B
Unlevered Free Cash Flow	-24.72B	10.88B	5.29B	10.25B	13.08B
Change In Net Working Capital	19.34B	-11.4B	-5.94B	-8.82B	-10.7B
Net Debt Issued / Repaid	15.51B	-3.06B	-3.82B	-2.59B	-1.02B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	-6.99	-0.89	0.74	0.92	1.71
Return on Total Capital	-16.02	-1.8	1.92	3.04	6.72
Return On Equity %	-168.34	-47.7	39.52	22.53	24.89
Return on Common Equity	-170.78	-48.15	39.54	22.6	24.9
Margin Analysis
Gross Profit Margin %	5.34	32.31	36.48	34.61	37.34
SG&A Margin	14.63	35.3	33.84	31.25	31.14
EBITDA Margin %	-6.3	6.87	9.69	9.37	11.67
EBITA Margin %	-9.25	-3.22	2.5	3.06	5.81
EBIT Margin %	-9.25	-3.22	2.5	3.06	5.81
Income From Continuing Operations Margin %	-9.91	-4.36	4.32	2.82	3.51
Net Income Margin %	-9.89	-4.34	4.32	2.82	3.51
Net Avail. For Common Margin %	-9.89	-4.34	4.32	2.82	3.51
Normalized Net Income Margin	-5.56	-2.03	1.15	1.46	3.28
Levered Free Cash Flow Margin	-36.84	41.27	15.7	25.61	28.44
Unlevered Free Cash Flow Margin	-36.71	42.14	16.15	25.89	28.82
Asset Turnover
Asset Turnover	1.21	0.44	0.47	0.48	0.47
Fixed Assets Turnover	5.51	2.04	2.63	3.18	3.8
Receivables Turnover (Average Receivables)	6.14	1.98	1.76	1.57	1.6
Inventory Turnover (Average Inventory)	467.07	168.92	268.53	308.17	270.72
Short Term Liquidity
Current Ratio	1.17	1.11	0.91	1.03	1.04
Quick Ratio	0.97	1.03	0.85	0.96	0.97
Operating Cash Flow to Current Liabilities	-0.83	0.34	0.17	0.19	0.2
Days Sales Outstanding (Average Receivables)	59.42	184.03	207.58	232.95	227.47
Days Outstanding Inventory (Average Inventory)	0.78	2.16	1.36	1.19	1.35
Average Days Payable Outstanding	136.14	464.36	606.15	671.65	736.91
Cash Conversion Cycle (Average Days)	-75.94	-278.18	-397.22	-437.52	-508.09
Long Term Solvency
Total Debt/Equity	1.47K	891.74	487.57	336.11	243.42
Total Debt / Total Capital	93.64	89.92	82.98	77.07	70.88
LT Debt/Equity	1.18K	755.88	279.32	317.8	229.36
Long-Term Debt / Total Capital	75.1	76.22	47.54	72.87	66.79
Total Liabilities / Total Assets	96.38	95.65	94.18	93.86	92.91
EBIT / Interest Expense	-42.39	-2.31	3.46	6.96	9.48
EBITDA / Interest Expense	-28.85	4.93	13.39	21.31	19.04
(EBITDA - Capex) / Interest Expense	-43.27	4.52	7.99	19.2	18.41
Total Debt / EBITDA	-6.63	14.11	6.69	5.03	3.33
Net Debt / EBITDA	-3.06	0.38	-1.62	-4.12	-5.42
Total Debt / (EBITDA - Capex)	-4.42	15.4	11.21	5.58	3.44
Net Debt / (EBITDA - Capex)	-2.04	0.42	-2.71	-4.58	-5.6
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-58.73	-61.65	26.85	20.83	14.59
Gross Profit, 1 Yr. Growth %	-74.76	131.83	43.21	14.63	23.61
EBITDA, 1 Yr. Growth %	-271.98	-141.83	78.92	16.82	42.75
EBITA, 1 Yr. Growth %	-663.89	-86.63	-198.44	47.68	117.67
EBIT, 1 Yr. Growth %	-663.89	-86.63	-198.44	47.68	117.67
Earnings From Cont. Operations, 1 Yr. Growth %	-5.27K	-83.14	-225.78	-21.2	42.69
Net Income, 1 Yr. Growth %	-5.61K	-83.16	-226.11	-20.99	42.31
Normalized Net Income, 1 Yr. Growth %	-646.91	-85.99	-171.53	54.38	156.2
Diluted EPS Before Extra, 1 Yr. Growth %	-5.49K	-84.52	-225.06	-21.03	42.05
Accounts Receivable, 1 Yr. Growth %	-10.18	50.96	37.86	33.32	-3.64
Inventory, 1 Yr. Growth %	-10.42	-39.53	-1.28	18.18	30.77
Net Property, Plant and Equip., 1 Yr. Growth %	13.96	-5.92	3.28	-3.54	-4.73
Total Assets, 1 Yr. Growth %	-9.94	22.38	15.79	20.69	13.16
Tangible Book Value, 1 Yr. Growth %	-359.02	-9.87	-34.3	-79.36	-447.03
Common Equity, 1 Yr. Growth %	-68.88	51.62	54.91	27.45	30.5
Cash From Operations, 1 Yr. Growth %	829.73	-159.74	-28.36	32.28	23.93
Capital Expenditures, 1 Yr. Growth %	-65.46	-93.02	765.54	-71.27	-52.72
Levered Free Cash Flow, 1 Yr. Growth %	162.51	-142.95	-51.74	97.15	27.23
Unlevered Free Cash Flow, 1 Yr. Growth %	161.9	-144.02	-51.38	93.69	27.58
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-38.82	-60.22	-30.26	23.8	17.67
Gross Profit, 2 Yr. CAGR %	-51.02	-23.5	82.21	28.13	19.04
EBITDA, 2 Yr. CAGR %	25.31	-15.18	-13.49	44.57	29.14
EBITA, 2 Yr. CAGR %	112.64	-13.18	-63.72	20.57	79.29
EBIT, 2 Yr. CAGR %	112.64	-13.18	-63.72	20.57	79.29
Earnings From Cont. Operations, 2 Yr. CAGR %	183.87	195.31	-53.95	-0.45	6.04
Net Income, 2 Yr. CAGR %	185.6	204.51	-53.92	-0.18	6.04
Normalized Net Income, 2 Yr. CAGR %	112.44	-12.45	-68.34	5.08	98.87
Diluted EPS Before Extra, 2 Yr. CAGR %	184.78	188.91	-56	-0.63	5.91
Accounts Receivable, 2 Yr. CAGR %	-29.2	16.45	44.26	35.57	13.34
Inventory, 2 Yr. CAGR %	-14.39	-26.4	-22.74	8.01	24.32
Net Property, Plant and Equip., 2 Yr. CAGR %	71.41	3.54	-1.43	-0.19	-4.14
Total Assets, 2 Yr. CAGR %	-8.25	4.98	19.04	18.21	16.86
Tangible Book Value, 2 Yr. CAGR %	23.17	52.79	-23.05	-63.18	-15.38
Common Equity, 2 Yr. CAGR %	-46.68	-31.31	53.26	40.51	28.97
Cash From Operations, 2 Yr. CAGR %	44.03	135.67	-34.58	-2.65	28.04
Capital Expenditures, 2 Yr. CAGR %	-15.82	-84.47	-22.27	57.69	-63.14
Levered Free Cash Flow, 2 Yr. CAGR %	103.52	6.18	-54.47	-2.46	58.38
Unlevered Free Cash Flow, 2 Yr. CAGR %	103.09	7.37	-53.74	-2.96	57.2
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-25.59	-47.64	-41.45	-16.24	20.65
Gross Profit, 3 Yr. CAGR %	-34.37	-17.76	-5.72	56.13	26.6
EBITDA, 3 Yr. CAGR %	27.69	-13.08	8.78	-4.38	43.96
EBITA, 3 Yr. CAGR %	71.93	-15.45	-9.46	-42.08	46.81
EBIT, 3 Yr. CAGR %	71.93	-15.45	-9.46	-42.08	46.81
Earnings From Cont. Operations, 3 Yr. CAGR %	110.43	10.76	122.19	-44.92	12.25
Net Income, 3 Yr. CAGR %	111.34	11.15	126.98	-44.85	12.35
Normalized Net Income, 3 Yr. CAGR %	73.04	-14.16	-18.15	-46.31	41.43
Diluted EPS Before Extra, 3 Yr. CAGR %	112.03	7.87	118.55	-46.53	11.94
Accounts Receivable, 3 Yr. CAGR %	-25.65	-8.87	23.19	40.52	20.99
Inventory, 3 Yr. CAGR %	-4.69	-23.76	-18.83	-10.98	15.12
Net Property, Plant and Equip., 3 Yr. CAGR %	112.44	40.34	3.45	-2.14	-1.73
Total Assets, 3 Yr. CAGR %	-1.65	1	8.47	19.59	16.5
Tangible Book Value, 3 Yr. CAGR %	-3.23	10.99	15.32	-50.38	-22.22
Common Equity, 3 Yr. CAGR %	-36.56	-24.46	-9.92	44.12	37.09
Cash From Operations, 3 Yr. CAGR %	55.16	7.41	58.46	-17.27	5.51
Capital Expenditures, 3 Yr. CAGR %	29.64	-63.29	-40.68	-44.22	5.54
Levered Free Cash Flow, 3 Yr. CAGR %	83.97	21.17	-18.36	-25.79	6.57
Unlevered Free Cash Flow, 3 Yr. CAGR %	83.72	22	-17.55	-25.44	6.31
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-13.44	-29.92	-27.49	-26.13	-22.59
Gross Profit, 5 Yr. CAGR %	-21.09	-8	-1.26	-1.8	3.5
EBITDA, 5 Yr. CAGR %	15.5	-6.09	9.28	6.54	16.5
EBITA, 5 Yr. CAGR %	32.37	-14.18	-7.73	-2.55	18.99
EBIT, 5 Yr. CAGR %	32.37	-14.18	-7.73	-2.55	18.99
Earnings From Cont. Operations, 5 Yr. CAGR %	40.58	2.76	14.6	6.13	65.28
Net Income, 5 Yr. CAGR %	40.69	2.87	14.92	6.47	67.41
Normalized Net Income, 5 Yr. CAGR %	32.62	-12.8	-12.28	-6.93	16.74
Diluted EPS Before Extra, 5 Yr. CAGR %	41.1	1.77	13.03	4.39	63.57
Accounts Receivable, 5 Yr. CAGR %	-7.83	-1.6	-3.08	6.82	19.15
Inventory, 5 Yr. CAGR %	-5.92	-12.72	-12.37	-12.36	-3.74
Net Property, Plant and Equip., 5 Yr. CAGR %	99.53	78.31	56.26	22.46	0.35
Total Assets, 5 Yr. CAGR %	7.99	8.59	6.15	7.56	11.75
Tangible Book Value, 5 Yr. CAGR %	-13.57	-13.76	-11.7	-28.61	1.89
Common Equity, 5 Yr. CAGR %	-24.57	-18.71	-9.72	-3.17	3.98
Cash From Operations, 5 Yr. CAGR %	51.12	16.44	9.84	3.27	45.51
Capital Expenditures, 5 Yr. CAGR %	61.16	-17.49	5.65	-34.24	-50.96
Levered Free Cash Flow, 5 Yr. CAGR %	71.12	18.25	5.23	11.1	6.42
Unlevered Free Cash Flow, 5 Yr. CAGR %	70.88	18.72	5.82	11.32	6.73
Dividend Per Share, 5 Yr. CAGR %	-	-	-	-	-