Pigeon 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	34,156	39,201	34,357	34,283	35,218	37,163
Cash & Short-Term Investments	34,156	39,201	34,357	34,283	35,218	37,163
Cash Growth	2.97%	14.10%	0.22%	-2.66%	-5.23%	14.64%
Accounts Receivable	18,631	18,335	14,167	15,749	16,059	14,907
Other Receivables	-	399	1,158	353	809	746
Receivables	18,631	18,734	15,325	16,102	16,868	15,653
Inventory	16,731	14,010	13,533	15,317	12,705	11,374
Other Current Assets	2,831	1,517	1,585	1,441	1,463	1,041
Total Current Assets	72,349	73,462	64,800	67,143	66,254	65,231
Property, Plant & Equipment	28,996	30,841	31,952	30,132	27,093	23,262
Long-Term Investments	2,714	1,174	1,072	1,249	1,200	1,336
Goodwill	-	20	215	380	534	647
Other Intangible Assets	1,097	1,275	1,268	1,928	2,038	2,310
Long-Term Deferred Tax Assets	-	1,535	1,131	900	922	684
Other Long-Term Assets	3	1	2	1	1	2
Total Assets	105,159	108,308	100,440	101,733	98,042	93,472
Accounts Payable	6,369	5,564	5,008	6,608	5,710	6,427
Accrued Expenses	1,573	3,256	2,728	2,926	2,891	952
Short-Term Debt	-	-	76	-	-	-
Current Income Taxes Payable	1,045	4,767	2,848	3,362	3,433	4,633
Other Current Liabilities	10,317	3,796	2,872	2,667	3,038	3,652
Total Current Liabilities	19,304	17,383	13,532	15,563	15,072	15,664
Long-Term Leases	-	1,769	1,824	2,057	-	-
Pension & Post-Retirement Benefits	699	659	612	566	478	440
Long-Term Deferred Tax Liabilities	-	3,405	2,984	3,004	3,209	3,031
Other Long-Term Liabilities	5,074	486	402	591	2,474	1,711
Total Liabilities	25,077	23,702	19,354	21,781	21,233	20,846
Common Stock	5,199	5,199	5,199	5,199	5,199	5,199
Additional Paid-In Capital	5,132	5,132	5,132	5,132	5,179	5,179
Retained Earnings	56,182	58,303	59,033	60,762	61,163	61,120
Treasury Stock	-1,360	-1,489	-1,488	-1,387	-1,479	-1,478
Comprehensive Income & Other	12,231	13,998	9,705	6,989	3,822	-116
Total Common Equity	77,384	81,143	77,581	76,695	73,884	69,904
Minority Interest	2,698	3,463	3,505	3,257	2,925	2,722
Shareholders' Equity	80,082	84,606	81,086	79,952	76,809	72,626
Total Liabilities & Equity	105,159	108,308	100,440	101,733	98,042	93,472
Total Debt	-	1,769	1,900	2,057	-	-
Net Cash (Debt)	34,156	37,432	32,457	32,226	35,218	37,163
Net Cash Growth	2.97%	15.33%	0.72%	-8.50%	-5.23%	14.64%
Net Cash Per Share	285.56	313.00	271.34	269.33	294.38	310.53
Filing Date Shares Outstanding	119.63	119.59	119.59	119.67	119.64	119.64
Total Common Shares Outstanding	119.63	119.59	119.59	119.66	119.64	119.64
Working Capital	53,045	56,079	51,268	51,580	51,182	49,567
Book Value Per Share	646.86	678.51	648.73	640.96	617.58	584.31
Tangible Book Value	76,287	79,848	76,098	74,387	71,312	66,947
Tangible Book Value Per Share	637.69	667.69	636.33	621.67	596.08	559.59

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