PAPANETS Balance Sheet

Financials in millions JPY. Fiscal year is March - February.

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	May '26 May 31, 2026	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Cash & Equivalents	839	747	935	884	984	922
Cash & Short-Term Investments	839	747	935	884	984	922
Cash Growth	-3.23%	-20.11%	5.77%	-10.16%	6.73%	-10.48%
Accounts Receivable	826	850	687	573	556	615
Receivables	826	850	687	573	556	615
Inventory	49	74	55	60	39	32
Prepaid Expenses	39	36	26	21	13	12
Other Current Assets	13	30	4	6	4	4
Total Current Assets	1,766	1,737	1,707	1,544	1,596	1,585
Property, Plant & Equipment	440	434	358	360	369	274
Long-Term Investments	133	129	77	79	21	27
Other Intangible Assets	243	250	155	102	73	75
Long-Term Deferred Tax Assets	22	35	67	43	31	25
Other Long-Term Assets	1	1	2	1	1	1
Total Assets	2,605	2,586	2,366	2,129	2,091	1,987
Accounts Payable	72	103	73	66	76	26
Accrued Expenses	417	501	430	328	288	272
Current Portion of Long-Term Debt	79	88	108	151	151	151
Current Income Taxes Payable	116	105	113	100	70	85
Other Current Liabilities	56	36	37	24	19	17
Total Current Liabilities	740	833	761	669	604	551
Long-Term Debt	115	134	223	331	483	634
Pension & Post-Retirement Benefits	-	-	108	76	48	41
Other Long-Term Liabilities	5	4	5	5	6	5
Total Liabilities	860	971	1,097	1,081	1,141	1,231
Common Stock	102	102	50	50	50	50
Additional Paid-In Capital	175	175	114	114	114	114
Retained Earnings	1,563	1,432	1,212	991	785	592
Treasury Stock	-95	-95	-107	-107	-	-
Comprehensive Income & Other	-	1	-	-	1	-
Shareholders' Equity	1,745	1,615	1,269	1,048	950	756
Total Liabilities & Equity	2,605	2,586	2,366	2,129	2,091	1,987
Total Debt	194	222	331	482	634	785
Net Cash (Debt)	645	525	604	402	350	137
Net Cash Growth	14.97%	-13.08%	50.25%	14.86%	155.47%	270.27%
Net Cash Per Share	339.60	285.49	378.68	2344.93	2028.99	794.20
Filing Date Shares Outstanding	1.92	1.92	1.6	0.17	0.17	0.17
Total Common Shares Outstanding	1.92	1.92	1.6	0.17	0.17	0.17
Working Capital	1,026	904	946	875	992	1,034
Book Value Per Share	910.28	843.09	795.61	6151.39	5507.25	4382.61
Tangible Book Value	1,502	1,365	1,114	946	877	681
Tangible Book Value Per Share	783.52	712.58	698.43	5552.69	5084.06	3947.83