System Research Balance Sheet

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun '26 Jun 30, 2026	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	7,451	8,429	8,203	8,326	7,371	6,349
Cash & Short-Term Investments	7,451	8,429	8,203	8,326	7,371	6,349
Cash Growth	5.26%	2.76%	-1.48%	12.96%	16.10%	8.66%
Receivables	5,027	5,789	4,831	4,227	4,100	3,653
Inventory	67.77	57	8	8	9	7
Other Current Assets	184.75	522	565	428	424	406
Total Current Assets	12,730	14,797	13,607	12,989	11,904	10,415
Property, Plant & Equipment	3,516	3,503	2,822	2,025	1,142	976
Long-Term Investments	-	253	257	257	231	755
Goodwill	32.77	49	114	180	245	311
Other Intangible Assets	221.84	224	199	168	144	120
Long-Term Deferred Tax Assets	-	630	525	526	513	306
Other Long-Term Assets	884.18	2	2	-	2	1
Total Assets	17,385	19,458	17,526	16,145	14,181	12,884
Accounts Payable	1,257	1,483	1,063	945	885	821
Accrued Expenses	488.95	1,493	1,342	1,266	1,130	1,003
Current Portion of Long-Term Debt	515.59	580	730	780	741	780
Current Income Taxes Payable	187.92	656	591	428	458	445
Other Current Liabilities	1,817	1,385	1,404	1,541	1,171	1,035
Total Current Liabilities	4,372	5,597	5,130	4,960	4,385	4,084
Long-Term Debt	298.26	376	566	661	661	622
Pension & Post-Retirement Benefits	-	-	-	-	-	43
Other Long-Term Liabilities	0	1	2	1	1	3
Total Liabilities	4,670	5,974	5,698	5,622	5,047	4,752
Common Stock	550.15	550	550	550	550	550
Additional Paid-In Capital	525.56	525	517	517	517	517
Retained Earnings	11,807	12,577	10,960	9,434	8,050	6,950
Treasury Stock	-195.95	-195	-223	-1	-1	-1
Comprehensive Income & Other	5.22	5	6	8	6	107
Total Common Equity	12,692	13,462	11,810	10,508	9,122	8,123
Minority Interest	23.26	22	18	15	12	9
Shareholders' Equity	12,715	13,484	11,828	10,523	9,134	8,132
Total Liabilities & Equity	17,385	19,458	17,526	16,145	14,181	12,884
Total Debt	918.85	956	1,296	1,441	1,402	1,402
Net Cash (Debt)	6,532	7,473	6,907	6,885	5,969	4,947
Net Cash Growth	14.15%	8.20%	0.32%	15.35%	20.66%	12.02%
Net Cash Per Share	393.90	450.79	416.36	411.88	357.08	295.94
Filing Date Shares Outstanding	16.58	16.58	16.57	16.57	16.72	16.72
Total Common Shares Outstanding	16.58	16.58	16.57	33.43	16.72	16.72
Working Capital	8,358	9,200	8,477	8,029	7,519	6,331
Book Value Per Share	765.26	811.70	712.92	314.31	545.71	485.94
Tangible Book Value	12,437	13,189	11,497	10,160	8,733	7,692
Tangible Book Value Per Share	749.90	795.24	694.02	303.90	522.43	460.15
Order Backlog	-	6,710	3,704	4,927	4,557	4,075