511A — Vanguard Smith Income Statement

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Consumer DefensivesHighly SpeculativeMicro Cap

Annual income statement for Vanguard Smith, fiscal year end - May 31st, JPY millions except per share, conversion factor applied.

	2024 May 31st	2025 May 31st	2026 May 31st
Period Length:	12 M	12 M	12 M
Source:	PROSPECTUS	PROSPECTUS	Tanshin
Standards:	JAS	JAS	JAS
Status:	Final	Final	Preliminary
Revenue
Total Revenue	197	1,487	2,210
Cost of Revenue
Gross Profit	155	1,209	1,894
Selling / General / Administrative Expenses
Depreciation and Amortization
Unusual Expense / Income
Other Operating Expenses
Total Operating Expenses	179	1,055	1,587
Operating Profit	18.8	432	624
Total Net Non Operating Interest Income / Expense
Total Net Non Operating Interest Income / Expense
Other Net Non Operating Costs
Net Income Before Taxes	21.1	434	614
Provision for Income Taxes
Net Income After Taxes	15.8	295	428
Net Income Before Extraordinary Items
Net Income	15.8	295	428
Adjustments to Net Income
Income Available to Common Shareholders Excluding Extraordinary Items
Income Available to Common Shareholders Including Extraordinary Items
Diluted Net Income	15.8	295	428
Diluted Weighted Average Shares
Basic EPS Including Extraordinary Items
Diluted EPS Including Extraordinary Items
Diluted EPS Excluding Extraordinary Items
Normalised Income Before Taxes
Normalised Income After Taxes
Normalised Income Available to Common Shareholders
Diluted Normalised EPS	44.9	403	600
Dividends per Share