System Research Balance Sheet

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Cash & Equivalents	8,430	8,203	8,326	7,371	6,349
Cash & Short-Term Investments	8,430	8,203	8,326	7,371	6,349
Cash Growth	2.77%	-1.48%	12.96%	16.10%	8.66%
Receivables	6,207	4,831	4,227	4,100	3,653
Inventory	57.78	8	8	9	7
Other Current Assets	103.58	565	428	424	406
Total Current Assets	14,798	13,607	12,989	11,904	10,415
Property, Plant & Equipment	3,504	2,822	2,025	1,142	976
Long-Term Investments	12.36	257	257	231	755
Goodwill	49.15	114	180	245	311
Other Intangible Assets	224.25	199	168	144	120
Long-Term Deferred Tax Assets	630.42	525	526	513	306
Other Long-Term Assets	240.8	2	-	2	1
Total Assets	19,459	17,526	16,145	14,181	12,884
Accounts Payable	1,484	1,063	945	885	821
Accrued Expenses	1,494	1,342	1,266	1,130	1,003
Current Portion of Long-Term Debt	580.58	730	780	741	780
Current Income Taxes Payable	656.61	591	428	458	445
Other Current Liabilities	1,383	1,404	1,541	1,171	1,035
Total Current Liabilities	5,597	5,130	4,960	4,385	4,084
Long-Term Debt	376.36	566	661	661	622
Pension & Post-Retirement Benefits	-	-	-	-	43
Other Long-Term Liabilities	0	2	1	1	3
Total Liabilities	5,974	5,698	5,622	5,047	4,752
Common Stock	550.15	550	550	550	550
Additional Paid-In Capital	525.56	517	517	517	517
Retained Earnings	12,578	10,960	9,434	8,050	6,950
Treasury Stock	-195.95	-223	-1	-1	-1
Comprehensive Income & Other	5.69	6	8	6	107
Total Common Equity	13,463	11,810	10,508	9,122	8,123
Minority Interest	22.1	18	15	12	9
Shareholders' Equity	13,485	11,828	10,523	9,134	8,132
Total Liabilities & Equity	19,459	17,526	16,145	14,181	12,884
Total Debt	956.94	1,296	1,441	1,402	1,402
Net Cash (Debt)	7,473	6,907	6,885	5,969	4,947
Net Cash Growth	8.19%	0.32%	15.35%	20.66%	12.02%
Net Cash Per Share	450.78	416.36	411.88	357.08	295.94
Filing Date Shares Outstanding	16.58	16.57	16.57	16.72	16.72
Total Common Shares Outstanding	16.58	16.57	33.43	16.72	16.72
Working Capital	9,201	8,477	8,029	7,519	6,331
Book Value Per Share	811.76	712.92	314.31	545.71	485.94
Tangible Book Value	13,190	11,497	10,160	8,733	7,692
Tangible Book Value Per Share	795.27	694.02	303.90	522.43	460.15
Land	1,402	-	-	-	-
Buildings	2,507	-	-	-	-
Order Backlog	6,710	3,704	4,927	4,557	4,075

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