Tokai Carbon Balance Sheet

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	77,164	92,207	77,465	70,909	78,858	67,174
Cash & Short-Term Investments	77,164	92,207	77,465	70,909	78,858	67,174
Cash Growth	-1.39%	19.03%	9.25%	-10.08%	17.39%	27.48%
Receivables	64,746	67,736	64,630	64,923	56,434	41,214
Inventory	96,051	100,739	109,331	101,330	72,478	63,797
Other Current Assets	9,871	9,681	11,464	9,529	7,379	5,493
Total Current Assets	247,832	270,363	262,890	246,691	215,149	177,678
Property, Plant & Equipment	275,013	264,582	223,804	181,948	144,165	125,007
Long-Term Investments	37,477	38,418	35,766	26,776	26,218	21,063
Goodwill	32,649	37,548	49,212	52,837	55,553	60,316
Other Intangible Assets	26,711	28,793	67,839	66,002	67,796	73,033
Long-Term Deferred Tax Assets	1,074	1,048	492	2,210	3,620	2,611
Other Long-Term Assets	4,847	1	2	1	2	1
Total Assets	629,258	640,753	640,005	576,465	512,503	459,709
Accounts Payable	20,079	26,636	29,469	32,272	26,228	18,647
Accrued Expenses	3,398	3,297	4,432	3,887	2,777	4,634
Short-Term Debt	66,139	65,716	67,000	70,940	52,000	43,065
Current Portion of Long-Term Debt	13,288	8,223	3,218	9,805	22,710	8,813
Current Income Taxes Payable	1,683	3,848	3,983	5,673	5,913	3,383
Other Current Liabilities	28,020	40,009	28,869	24,119	20,790	14,114
Total Current Liabilities	135,885	147,729	136,971	146,696	130,418	92,656
Long-Term Debt	120,843	117,301	96,424	90,706	93,539	106,764
Long-Term Leases	9,147	7,870	-	-	-	-
Pension & Post-Retirement Benefits	4,983	7,889	7,874	6,730	7,488	7,699
Long-Term Deferred Tax Liabilities	32,012	29,976	30,251	24,171	18,499	21,409
Other Long-Term Liabilities	4,601	4,830	8,382	7,295	5,990	6,367
Total Liabilities	307,471	315,595	279,902	275,598	255,934	234,895
Common Stock	20,436	20,436	20,436	20,436	20,436	20,436
Additional Paid-In Capital	9,561	10,690	13,825	13,811	17,350	17,338
Retained Earnings	156,360	146,410	210,183	191,750	175,727	166,017
Treasury Stock	-7,047	-7,068	-7,225	-7,236	-7,244	-7,248
Comprehensive Income & Other	109,630	119,090	87,272	50,065	22,940	4,723
Total Common Equity	288,940	289,558	324,491	268,826	229,209	201,266
Minority Interest	32,847	35,600	35,612	32,041	27,360	23,548
Shareholders' Equity	321,787	325,158	360,103	300,867	256,569	224,814
Total Liabilities & Equity	629,258	640,753	640,005	576,465	512,503	459,709
Total Debt	209,417	199,110	166,642	171,451	168,249	158,642
Net Cash (Debt)	-132,253	-106,903	-89,177	-100,542	-89,391	-91,468
Net Cash Per Share	-619.50	-501.09	-418.26	-471.61	-419.33	-429.09
Filing Date Shares Outstanding	213.51	213.47	213.22	213.19	213.18	213.17
Total Common Shares Outstanding	213.51	213.47	213.22	213.19	213.18	213.17
Working Capital	111,947	122,634	125,919	99,995	84,731	85,022
Book Value Per Share	1353.31	1356.42	1521.89	1260.94	1075.19	944.15
Tangible Book Value	229,580	223,217	207,440	149,987	105,860	67,917
Tangible Book Value Per Share	1075.28	1045.65	972.91	703.52	496.57	318.60
Order Backlog	-	9,832	14,131	15,249	17,977	16,303

Source: S&P Global Market Intelligence. Standard template. Financial Sources.