Toa Road 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	12,553	12,308	14,227	10,004	11,649	12,764
Cash & Short-Term Investments	12,553	12,308	14,227	10,004	11,649	12,764
Cash Growth	28.88%	-13.49%	42.21%	-14.12%	-8.74%	5.90%
Receivables	32,706	39,718	39,157	41,835	39,559	39,522
Inventory	7,366	4,552	5,441	4,657	4,249	7,243
Other Current Assets	4,743	3,423	2,741	2,931	2,792	2,354
Total Current Assets	57,368	60,001	61,566	59,427	58,249	61,883
Property, Plant & Equipment	23,725	23,707	23,085	21,339	20,592	19,988
Long-Term Investments	4,708	5,994	7,264	5,518	5,025	5,027
Other Intangible Assets	287	321	281	346	396	416
Long-Term Deferred Tax Assets	529	367	381	273	145	244
Other Long-Term Assets	1,908	1	1	1	1	2
Total Assets	88,839	90,721	92,895	87,184	84,691	87,846
Accounts Payable	13,563	17,675	25,092	22,782	23,138	24,299
Short-Term Debt	6,963	5,450	600	2,036	1,328	1,688
Current Income Taxes Payable	601	1,506	1,112	1,097	1,011	2,232
Current Unearned Revenue	2,595	969	1,044	1,399	1,913	3,318
Other Current Liabilities	8,319	4,801	4,639	4,146	3,685	4,323
Total Current Liabilities	32,041	30,401	32,487	31,460	31,075	35,860
Long-Term Debt	295	450	900	150	586	1,664
Pension & Post-Retirement Benefits	470	459	439	449	427	415
Long-Term Deferred Tax Liabilities	2,166	1,772	2,285	1,789	1,771	1,561
Other Long-Term Liabilities	772	709	710	626	368	320
Total Liabilities	35,744	33,791	36,821	34,474	34,227	39,820
Common Stock	7,584	7,584	7,584	7,584	7,584	7,584
Additional Paid-In Capital	6,653	6,419	7,258	7,105	6,986	6,966
Retained Earnings	36,791	40,991	38,670	35,722	33,419	30,462
Treasury Stock	-2,906	-2,584	-2,620	-1,724	-1,606	-1,033
Comprehensive Income & Other	3,408	3,001	3,754	2,657	2,689	2,760
Total Common Equity	51,530	55,411	54,646	51,344	49,072	46,739
Minority Interest	1,565	1,519	1,428	1,366	1,392	1,287
Shareholders' Equity	53,095	56,930	56,074	52,710	50,464	48,026
Total Liabilities & Equity	88,839	90,721	92,895	87,184	84,691	87,846
Total Debt	7,258	5,900	1,500	2,186	1,914	3,352
Net Cash (Debt)	5,295	6,408	12,727	7,818	9,735	9,412
Net Cash Growth	-31.48%	-49.65%	62.79%	-19.69%	3.43%	49.94%
Net Cash Per Share	114.66	138.53	268.19	165.09	200.64	190.10
Filing Date Shares Outstanding	46.21	45.93	46	47.52	47.2	48.76
Total Common Shares Outstanding	46.21	46.28	47	47.52	47.63	48.76
Working Capital	25,327	29,600	29,079	27,967	27,174	26,023
Book Value Per Share	1115.10	1197.35	1162.66	1080.45	1030.28	958.57
Tangible Book Value	51,243	55,090	54,365	50,998	48,676	46,323
Tangible Book Value Per Share	1108.88	1190.41	1156.68	1073.16	1021.97	950.03
Order Backlog	-	28,057	34,990	29,059	30,748	36,287

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.