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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	10,984	11,909	10,129	9,810	7,425	8,433
Cash & Short-Term Investments	10,984	11,909	10,129	9,810	7,425	8,433
Cash Growth	24.63%	17.57%	3.25%	32.12%	-11.95%	13.96%
Receivables	42	275	109	116	146	1,248
Inventory	62,650	43,588	36,557	38,414	41,488	28,926
Other Current Assets	2,823	3,169	1,906	1,953	2,676	2,171
Total Current Assets	76,499	58,941	48,701	50,293	51,735	40,778
Property, Plant & Equipment	11,639	11,187	9,106	6,558	156	182
Long-Term Investments	914	935	924	1,073	1,031	593
Goodwill	256	263	295	327	-	42
Other Intangible Assets	182	188	152	102	84	38
Long-Term Deferred Tax Assets	521	534	618	477	320	378
Long-Term Deferred Charges	10	11	12	23	30	33
Other Long-Term Assets	3	3	1	1	3	3
Total Assets	90,024	72,062	59,809	58,854	53,359	42,047
Accounts Payable	842	651	933	1,258	640	574
Accrued Expenses	108	362	204	254	-	-
Short-Term Debt	2,531	606	432	779	71	253
Current Portion of Long-Term Debt	7,053	6,548	4,339	7,404	4,093	1,932
Current Income Taxes Payable	879	1,461	718	661	60	208
Other Current Liabilities	2,967	3,222	3,510	4,692	4,235	3,282
Total Current Liabilities	14,380	12,850	10,136	15,048	9,099	6,249
Long-Term Debt	54,025	38,607	30,889	26,626	28,350	20,892
Other Long-Term Liabilities	9	30	25	15	54	90
Total Liabilities	68,414	51,487	41,050	41,689	37,503	27,231
Common Stock	6,357	6,347	6,283	6,262	6,232	6,084
Additional Paid-In Capital	5,404	5,432	5,368	5,346	5,328	5,100
Retained Earnings	9,920	8,819	6,146	4,980	3,952	3,589
Treasury Stock	-212	-233	-288	-235	-295	-50
Comprehensive Income & Other	144	213	1,230	781	591	64
Total Common Equity	21,613	20,578	18,739	17,134	15,808	14,787
Minority Interest	-3	-3	20	31	48	29
Shareholders' Equity	21,610	20,575	18,759	17,165	15,856	14,816
Total Liabilities & Equity	90,024	72,062	59,809	58,854	53,359	42,047
Total Debt	63,609	45,761	35,660	34,809	32,514	23,077
Net Cash (Debt)	-52,625	-33,852	-25,531	-24,999	-25,089	-14,644
Net Cash Per Share	-1064.37	-689.12	-524.53	-520.36	-538.74	-337.48
Filing Date Shares Outstanding	49.27	49.22	48.02	47.99	47.22	46.71
Total Common Shares Outstanding	49.27	49.11	48.01	47.97	47.22	46.71
Working Capital	62,119	46,091	38,565	35,245	42,636	34,529
Book Value Per Share	438.64	419.06	390.31	357.21	334.80	316.59
Tangible Book Value	21,175	20,127	18,292	16,705	15,724	14,707
Tangible Book Value Per Share	429.75	409.88	381.00	348.26	333.02	314.88

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