Nomura Research Institute Balance Sheet

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Cash & Equivalents	108,663	168,597	173,935	129,257	115,610	153,187
Cash & Short-Term Investments	108,663	168,597	173,935	129,257	115,610	153,187
Cash Growth	-24.53%	-3.07%	34.56%	11.80%	-24.53%	46.11%
Receivables	207,403	158,295	141,870	131,592	135,678	106,324
Other Current Assets	85,134	92,532	89,373	88,253	82,357	63,855
Total Current Assets	401,200	419,424	405,178	349,102	333,645	323,366
Property, Plant & Equipment	69,244	60,662	69,096	73,991	76,451	90,295
Long-Term Investments	11,026	174,640	177,060	172,173	163,385	148,462
Goodwill	-	109,774	113,293	101,850	95,497	20,351
Other Intangible Assets	294,246	158,458	152,041	135,433	115,247	68,716
Long-Term Deferred Tax Assets	5,572	5,541	6,102	5,671	5,426	5,341
Other Long-Term Assets	167,251	2	3	4	4	5
Total Assets	948,539	928,501	922,773	838,224	789,655	656,536
Accounts Payable	53,451	58,146	53,038	55,681	53,800	37,358
Short-Term Debt	494	4,453	2,871	5,566	82,797	8,279
Current Portion of Long-Term Debt	11,811	32,836	10,344	14,669	34,142	15,565
Current Portion of Leases	10,791	11,020	11,023	9,364	12,250	12,350
Current Income Taxes Payable	11,469	23,363	23,874	13,093	20,648	8,939
Other Current Liabilities	81,757	109,664	113,492	99,874	94,705	91,857
Total Current Liabilities	192,746	239,482	214,642	198,247	298,342	174,348
Long-Term Debt	191,378	208,653	253,864	182,725	91,274	93,651
Long-Term Leases	22,183	14,060	20,436	25,420	29,952	35,748
Pension & Post-Retirement Benefits	5,877	5,194	6,146	7,086	7,561	8,726
Long-Term Deferred Tax Liabilities	23,291	15,384	15,750	14,050	10,222	2,426
Other Long-Term Liabilities	7,500	7,770	8,914	8,291	9,818	8,431
Total Liabilities	442,975	490,543	519,752	435,819	447,169	323,330
Common Stock	25,655	25,655	24,701	23,644	22,414	21,175
Additional Paid-In Capital	36,365	34,274	31,395	29,447	28,277	26,696
Retained Earnings	422,302	378,659	320,320	321,676	328,830	278,675
Treasury Stock	-34,462	-40,096	-17,464	-6,277	-68,809	-15,027
Comprehensive Income & Other	51,796	35,548	40,580	30,516	28,648	18,976
Total Common Equity	501,656	434,040	399,532	399,006	339,360	330,495
Minority Interest	3,908	3,918	3,489	3,399	3,126	2,711
Shareholders' Equity	505,564	437,958	403,021	402,405	342,486	333,206
Total Liabilities & Equity	948,539	928,501	922,773	838,224	789,655	656,536
Total Debt	236,657	271,022	298,538	237,744	250,415	165,593
Net Cash (Debt)	-127,994	-102,425	-124,603	-108,487	-134,805	-12,406
Net Cash Per Share	-223.48	-178.67	-214.08	-183.23	-227.06	-20.68
Filing Date Shares Outstanding	573.5	572.11	574.88	591.69	589.79	603.61
Total Common Shares Outstanding	573.5	572.11	576.25	591.69	589.59	603.47
Working Capital	208,454	179,942	190,536	150,855	35,303	149,018
Book Value Per Share	874.73	758.67	693.33	674.35	575.59	547.66
Tangible Book Value	207,410	165,808	134,198	161,723	128,616	241,428
Tangible Book Value Per Share	361.66	289.82	232.88	273.32	218.15	400.06
Order Backlog	-	428,582	397,145	376,116	348,384	309,785

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