MUSCAT GROUP Balance Sheet

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023
Cash & Equivalents	689	543	638	196
Cash & Short-Term Investments	689	543	638	196
Cash Growth	26.89%	-14.89%	225.51%	-
Accounts Receivable	589	504	256	192
Other Receivables	-	-	-	3
Receivables	589	879	256	195
Inventory	959	289	183	122
Prepaid Expenses	60	48	16	13
Other Current Assets	323	96	11	10
Total Current Assets	2,620	1,855	1,104	536
Property, Plant & Equipment	316	565	16	16
Long-Term Investments	281	46	54	77
Goodwill	2,311	762	496	535
Other Intangible Assets	75	63	54	42
Long-Term Deferred Tax Assets	27	143	69	48
Long-Term Deferred Charges	17	18	-	-
Other Long-Term Assets	1	2	1	1
Total Assets	5,648	3,554	1,794	1,255
Accounts Payable	338	87	116	107
Accrued Expenses	29	36	81	86
Short-Term Debt	820	220	75	24
Current Portion of Long-Term Debt	1,004	370	156	68
Current Portion of Leases	3	1	1	5
Current Income Taxes Payable	400	152	141	73
Other Current Liabilities	237	104	20	12
Total Current Liabilities	2,831	970	590	375
Long-Term Debt	1,706	1,392	449	233
Long-Term Leases	6	2	2	-
Long-Term Deferred Tax Liabilities	-	3	-	-
Other Long-Term Liabilities	20	24	2	6
Total Liabilities	4,563	2,391	1,043	614
Common Stock	423	249	100	100
Additional Paid-In Capital	986	812	662	662
Retained Earnings	-267	100	-11	-121
Comprehensive Income & Other	-57	2	-	-
Shareholders' Equity	1,085	1,163	751	641
Total Liabilities & Equity	5,648	3,554	1,794	1,255
Total Debt	3,539	1,985	683	330
Net Cash (Debt)	-2,850	-1,442	-45	-134
Net Cash Per Share	-939.09	-474.35	-16.43	-49.75
Filing Date Shares Outstanding	3.15	2.97	2.97	2.74
Total Common Shares Outstanding	3.15	2.97	2.74	2.74
Working Capital	-211	885	514	161
Book Value Per Share	344.83	391.76	274.18	234.02
Tangible Book Value	-1,301	338	201	64
Tangible Book Value Per Share	-413.47	113.85	73.38	23.37