A.D.Works Group 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	13,098	10,129	9,810	7,425	8,433	7,400
Cash & Short-Term Investments	13,098	10,129	9,810	7,425	8,433	7,400
Cash Growth	32.97%	3.25%	32.12%	-11.95%	13.96%	-
Receivables	71	109	116	146	1,248	199
Inventory	38,517	36,557	38,414	41,488	28,926	24,566
Other Current Assets	1,623	1,906	1,953	2,676	2,171	2,234
Total Current Assets	53,309	48,701	50,293	51,735	40,778	34,399
Property, Plant & Equipment	9,790	9,106	6,558	156	182	175
Long-Term Investments	904	924	1,073	1,031	593	712
Goodwill	271	295	327	-	42	59
Other Intangible Assets	188	152	102	84	38	49
Long-Term Deferred Tax Assets	742	618	477	320	378	400
Long-Term Deferred Charges	13	12	23	30	33	54
Other Long-Term Assets	1	1	1	3	3	2
Total Assets	65,218	59,809	58,854	53,359	42,047	35,850
Accounts Payable	796	933	1,258	640	574	718
Accrued Expenses	175	204	254	-	-	-
Short-Term Debt	941	432	779	71	253	30
Current Portion of Long-Term Debt	3,105	4,339	7,404	4,093	1,932	1,870
Current Income Taxes Payable	1,018	718	661	60	208	133
Other Current Liabilities	2,995	3,510	4,692	4,235	3,282	2,663
Total Current Liabilities	9,030	10,136	15,048	9,099	6,249	5,414
Long-Term Debt	35,885	30,889	26,626	28,350	20,892	17,115
Other Long-Term Liabilities	27	25	15	54	90	105
Total Liabilities	44,942	41,050	41,689	37,503	27,231	22,634
Common Stock	6,318	6,283	6,262	6,232	6,084	5,590
Additional Paid-In Capital	5,404	5,368	5,346	5,328	5,100	4,601
Retained Earnings	7,820	6,146	4,980	3,952	3,589	3,383
Treasury Stock	-254	-288	-235	-295	-50	-62
Comprehensive Income & Other	971	1,230	781	591	64	-296
Total Common Equity	20,259	18,739	17,134	15,808	14,787	13,216
Minority Interest	17	20	31	48	29	-
Shareholders' Equity	20,276	18,759	17,165	15,856	14,816	13,216
Total Liabilities & Equity	65,218	59,809	58,854	53,359	42,047	35,850
Total Debt	39,931	35,660	34,809	32,514	23,077	19,015
Net Cash (Debt)	-26,833	-25,531	-24,999	-25,089	-14,644	-11,615
Net Cash Per Share	-548.71	-524.53	-520.36	-538.74	-337.48	-293.93
Filing Date Shares Outstanding	48.63	48.02	47.99	47.22	46.71	41.1
Total Common Shares Outstanding	48.63	48.01	47.97	47.22	46.71	40.5
Working Capital	44,279	38,565	35,245	42,636	34,529	28,985
Book Value Per Share	416.61	390.31	357.21	334.80	316.59	326.36
Tangible Book Value	19,800	18,292	16,705	15,724	14,707	13,108
Tangible Book Value Per Share	407.17	381.00	348.26	333.02	314.88	323.69

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.