Morinaga Milk Industry 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	41,761	28,559	64,528	21,096	23,607	19,262
Cash & Short-Term Investments	41,761	28,559	64,528	21,096	23,607	19,262
Cash Growth	79.12%	-55.74%	205.88%	-10.64%	22.56%	121.91%
Receivables	87,270	67,846	74,643	65,032	63,051	61,205
Inventory	84,348	85,907	80,188	74,382	70,448	66,591
Other Current Assets	14,792	15,757	9,680	18,679	7,021	8,557
Total Current Assets	228,171	198,069	229,039	179,189	164,127	155,615
Property, Plant & Equipment	286,266	273,993	268,960	248,388	247,446	254,336
Long-Term Investments	21,458	34,003	38,563	31,055	30,936	28,845
Goodwill	371	417	10,214	11,127	-	-
Other Intangible Assets	11,065	11,625	17,107	10,112	9,735	7,085
Long-Term Deferred Tax Assets	-	2,074	1,925	5,037	6,328	6,646
Other Long-Term Assets	16,657	2	1	2	1	3
Total Assets	563,988	520,423	565,998	485,116	458,788	452,763
Accounts Payable	59,242	56,748	62,607	58,444	56,790	53,459
Accrued Expenses	35,734	38,896	42,096	35,991	34,474	33,413
Short-Term Debt	13,661	13,553	4,519	15,233	3,084	13,292
Current Portion of Long-Term Debt	4,855	24,642	17,593	7,952	7,905	7,936
Current Portion of Leases	-	1,068	1,033	913	856	1,006
Current Income Taxes Payable	6,153	3,140	24,455	2,927	10,036	4,169
Other Current Liabilities	48,554	32,065	40,379	35,147	29,355	31,631
Total Current Liabilities	168,199	170,112	192,682	156,607	142,500	144,906
Long-Term Debt	100,893	60,511	59,199	75,196	76,051	80,404
Long-Term Leases	-	4,957	4,474	2,039	1,368	1,650
Pension & Post-Retirement Benefits	7,503	7,576	21,664	21,483	21,146	20,985
Other Long-Term Liabilities	10,316	6,165	5,846	2,668	9,699	2,901
Total Liabilities	286,911	249,321	283,865	257,993	250,764	250,846
Common Stock	21,821	21,821	21,821	21,821	21,821	21,787
Additional Paid-In Capital	19,676	19,664	19,998	19,985	19,980	19,947
Retained Earnings	234,629	220,181	233,741	186,518	183,884	153,540
Treasury Stock	-23,528	-15,351	-14,241	-14,316	-25,476	-708
Comprehensive Income & Other	19,688	20,010	15,863	9,018	5,860	4,990
Total Common Equity	272,286	266,325	277,182	223,026	206,069	199,556
Minority Interest	4,791	4,777	4,951	4,097	1,955	2,361
Shareholders' Equity	277,077	271,102	282,133	227,123	208,024	201,917
Total Liabilities & Equity	563,988	520,423	565,998	485,116	458,788	452,763
Total Debt	119,409	104,731	86,818	101,333	89,264	104,288
Net Cash (Debt)	-77,648	-76,172	-22,290	-80,237	-65,657	-85,026
Net Cash Per Share	-939.74	-900.31	-253.08	-885.85	-666.96	-857.50
Filing Date Shares Outstanding	81.1	83.54	86.79	90.48	90.41	98.98
Total Common Shares Outstanding	81.1	83.52	86.79	90.48	90.41	98.98
Working Capital	59,972	27,957	36,357	22,582	21,627	10,709
Book Value Per Share	3357.58	3188.69	3193.66	2465.02	2279.33	2016.21
Tangible Book Value	260,850	254,283	249,861	201,787	196,334	192,471
Tangible Book Value Per Share	3216.56	3044.52	2878.87	2230.27	2171.65	1944.63
Order Backlog	-	6,777	6,655	3,788	3,213	3,324

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