MUGEN ESTATE Balance Sheet

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	19,173	22,016	20,420	17,754	17,565
Short-Term Investments	1,545	-	-	-	-
Cash & Short-Term Investments	20,718	22,016	20,420	17,754	17,565
Cash Growth	-5.90%	7.82%	15.02%	1.08%	9.34%
Receivables	80	58	31	18	16
Inventory	76,148	60,892	53,121	51,633	36,093
Other Current Assets	1,408	759	617	769	730
Total Current Assets	98,354	83,725	74,189	70,174	54,404
Property, Plant & Equipment	5,928	2,773	5,156	6,430	7,614
Long-Term Investments	1,170	402	426	392	379
Other Intangible Assets	113	79	81	84	85
Long-Term Deferred Tax Assets	483	481	454	306	252
Long-Term Deferred Charges	52	41	53	60	41
Other Long-Term Assets	598	2	3	2	3
Total Assets	106,698	87,503	80,362	77,448	62,778
Accounts Payable	1,048	606	466	495	361
Accrued Expenses	332	230	153	44	20
Short-Term Debt	10,726	7,818	9,153	6,023	4,739
Current Portion of Long-Term Debt	12,526	9,169	6,448	9,611	5,709
Current Income Taxes Payable	2,041	2,009	1,413	622	287
Other Current Liabilities	3,283	2,464	1,851	1,706	1,052
Total Current Liabilities	29,956	22,296	19,484	18,501	12,168
Long-Term Debt	39,490	31,829	32,044	33,672	26,411
Pension & Post-Retirement Benefits	376	388	308	115	109
Other Long-Term Liabilities	1,074	914	683	557	545
Total Liabilities	70,896	55,427	52,519	52,845	39,233
Common Stock	2,552	2,552	2,552	2,552	2,552
Additional Paid-In Capital	2,880	2,575	2,475	2,475	2,475
Retained Earnings	30,997	27,809	23,207	20,027	18,827
Treasury Stock	-747	-919	-483	-543	-401
Comprehensive Income & Other	120	59	92	92	92
Shareholders' Equity	35,802	32,076	27,843	24,603	23,545
Total Liabilities & Equity	106,698	87,503	80,362	77,448	62,778
Total Debt	62,742	48,816	47,645	49,306	36,859
Net Cash (Debt)	-42,024	-26,800	-27,225	-31,552	-19,294
Net Cash Per Share	-1788.52	-1135.86	-1150.09	-1334.16	-800.57
Filing Date Shares Outstanding	23.49	23.27	23.56	23.46	23.6
Total Common Shares Outstanding	23.49	23.27	23.56	23.46	23.78
Working Capital	68,398	61,429	54,705	51,673	42,236
Book Value Per Share	1524.46	1378.52	1181.66	1048.56	990.31
Tangible Book Value	35,689	31,997	27,762	24,519	23,460
Tangible Book Value Per Share	1519.64	1375.12	1178.22	1044.98	986.74
Land	3,355	-	-	-	-
Buildings	3,019	-	-	-	-

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