MUGEN ESTATE 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	22,039	22,016	20,420	17,754	17,565	16,065
Cash & Short-Term Investments	22,039	22,016	20,420	17,754	17,565	16,065
Cash Growth	5.30%	7.82%	15.02%	1.08%	9.34%	17.19%
Receivables	69	58	31	18	16	8
Inventory	70,511	60,892	53,121	51,633	36,093	41,620
Other Current Assets	1,555	759	617	769	730	244
Total Current Assets	94,174	83,725	74,189	70,174	54,404	57,937
Property, Plant & Equipment	4,978	2,773	5,156	6,430	7,614	3,838
Long-Term Investments	-	402	426	392	379	342
Other Intangible Assets	82	79	81	84	85	83
Long-Term Deferred Tax Assets	473	481	454	306	252	241
Long-Term Deferred Charges	52	41	53	60	41	45
Other Long-Term Assets	590	2	3	2	3	1
Total Assets	100,349	87,503	80,362	77,448	62,778	62,487
Accounts Payable	1,074	606	466	495	361	216
Accrued Expenses	246	230	153	44	20	23
Short-Term Debt	12,475	7,818	9,153	6,023	4,739	2,050
Current Portion of Long-Term Debt	11,239	9,169	6,448	9,611	5,709	7,052
Current Income Taxes Payable	764	2,009	1,413	622	287	573
Other Current Liabilities	2,922	2,464	1,851	1,706	1,052	1,223
Total Current Liabilities	28,720	22,296	19,484	18,501	12,168	11,137
Long-Term Debt	37,013	31,829	32,044	33,672	26,411	28,020
Pension & Post-Retirement Benefits	450	388	308	115	109	101
Other Long-Term Liabilities	1,094	914	683	557	545	625
Total Liabilities	67,277	55,427	52,519	52,845	39,233	39,883
Common Stock	2,552	2,552	2,552	2,552	2,552	2,552
Additional Paid-In Capital	2,748	2,575	2,475	2,475	2,475	2,475
Retained Earnings	28,539	27,809	23,207	20,027	18,827	17,790
Treasury Stock	-830	-919	-483	-543	-401	-300
Comprehensive Income & Other	63	59	92	92	92	87
Shareholders' Equity	33,072	32,076	27,843	24,603	23,545	22,604
Total Liabilities & Equity	100,349	87,503	80,362	77,448	62,778	62,487
Total Debt	60,727	48,816	47,645	49,306	36,859	37,122
Net Cash (Debt)	-38,688	-26,800	-27,225	-31,552	-19,294	-21,057
Net Cash Per Share	-1649.46	-1135.86	-1150.09	-1334.16	-800.57	-873.78
Filing Date Shares Outstanding	23.38	23.27	23.56	23.46	23.6	23.98
Total Common Shares Outstanding	23.38	23.27	23.56	23.46	23.78	23.98
Working Capital	65,454	61,429	54,705	51,673	42,236	46,800
Book Value Per Share	1414.51	1378.52	1181.66	1048.56	990.31	942.67
Tangible Book Value	32,990	31,997	27,762	24,519	23,460	22,521
Tangible Book Value Per Share	1411.01	1375.12	1178.22	1044.98	986.74	939.21

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