1、Morningstar Equity Analyst Note|Report as of 17 Apr 2025 22:23,UTC|Reporting Currency:JPY|Trading Currency:JPY|Exchange:TOKYO STOCK EXCHANGEPage 1 of 132025 Morningstar.All Rights Reserved.Unless otherwise provided in a separate agreement,you may use this report only in the country in which its orig
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5、h Services LLC,registered with and governed by the U.S.Securities and Exchange Commission.To order reprints,call+1 312-696-6100.To license the research,call+1 312-696-6869.Please see important disclosures at the end of this report.Financial Summary and Key Statistics ActualForecast2023202420252026Re
6、venue(JPY Bil)1,1111,1711,2381,239Revenue Growth%-11.85.35.80.1Operating Income(Bil)411540612575Operating Margin%37.046.149.546.4Adjusted EBITDA(Bil)466569639608Adjusted EBITDA Margin%41.948.651.649.1Earnings Per Share(Diluted)(JPY)197.80235.39274.28265.64Adjusted Earnings Per Share(Diluted)(JPY)197