VALUE GOLF Balance Sheet

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

Millions JPY. Fiscal year is Feb - Jan.

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Apr '26 Apr 30, 2026	Jan '26 Jan 31, 2026	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022
Cash & Equivalents	835	757	885	1,261	1,159	1,167
Cash & Short-Term Investments	835	757	885	1,261	1,159	1,167
Cash Growth	-4.57%	-14.46%	-29.82%	8.80%	-0.69%	19.32%
Receivables	381	372	319	252	240	252
Inventory	1,326	1,257	690	712	784	637
Other Current Assets	301	348	299	172	114	104
Total Current Assets	2,843	2,734	2,193	2,397	2,297	2,160
Property, Plant & Equipment	39	42	30	52	35	40
Long-Term Investments	261	238	238	136	136	126
Goodwill	85	92	123	-	-	-
Other Intangible Assets	36	40	38	21	16	15
Long-Term Deferred Tax Assets	-	37	24	27	22	27
Other Long-Term Assets	2	1	1	1	2	1
Total Assets	3,266	3,184	2,647	2,634	2,508	2,369
Accounts Payable	251	245	190	193	182	227
Short-Term Debt	1,400	1,250	750	850	650	550
Current Portion of Long-Term Debt	32	29	29	15	43	56
Current Income Taxes Payable	5	102	68	79	94	133
Other Current Liabilities	385	321	292	178	197	98
Total Current Liabilities	2,073	1,947	1,329	1,315	1,166	1,064
Long-Term Debt	119	129	164	123	138	182
Long-Term Deferred Tax Liabilities	-	3	1	-	-	-
Other Long-Term Liabilities	33	33	29	34	29	29
Total Liabilities	2,225	2,112	1,523	1,472	1,333	1,275
Common Stock	382	382	382	382	382	382
Additional Paid-In Capital	374	374	374	374	374	374
Retained Earnings	282	309	362	402	415	335
Comprehensive Income & Other	3	7	6	4	4	3
Shareholders' Equity	1,041	1,072	1,124	1,162	1,175	1,094
Total Liabilities & Equity	3,266	3,184	2,647	2,634	2,508	2,369
Total Debt	1,551	1,408	943	988	831	788
Net Cash (Debt)	-716	-651	-58	273	328	379
Net Cash Growth	-	-	-	-16.77%	-13.46%	10.50%
Net Cash Per Share	-396.28	-360.30	-32.10	151.10	181.54	210.02
Filing Date Shares Outstanding	1.81	1.81	1.81	1.81	1.81	1.81
Total Common Shares Outstanding	1.81	1.81	1.81	1.81	1.81	1.81
Working Capital	770	787	864	1,082	1,131	1,096
Book Value Per Share	576.15	593.31	622.09	643.12	650.32	605.49
Tangible Book Value	920	940	963	1,141	1,159	1,079
Tangible Book Value Per Share	509.18	520.25	532.98	631.50	641.46	597.19