Headwaters Co.,Ltd 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 2017
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '17 Dec 31, 2017
Cash & Equivalents	625.15	843	897	818	224.24
Cash & Short-Term Investments	625.15	843	897	818	224.24
Cash Growth	-25.84%	-6.02%	9.66%	264.78%	97.10%
Receivables	828.47	562	292	265	176.05
Inventory	17.35	3	16	10	8.07
Prepaid Expenses	55.72	48	16	8	-
Other Current Assets	53.93	3	5	2	8.67
Total Current Assets	1,581	1,459	1,226	1,103	417.03
Property, Plant & Equipment	42.49	40	30	26	3.5
Long-Term Investments	1,938	275	19	19	-
Goodwill	154.6	-	-	-	-
Other Intangible Assets	7.14	10	13	16	-
Long-Term Deferred Tax Assets	4.52	15	4	3	-
Other Long-Term Assets	122.39	1	2	2	5.78
Total Assets	3,850	1,800	1,294	1,169	426.31
Accounts Payable	216.06	164	145	155	50.88
Accrued Expenses	282.83	117	74	48	-
Short-Term Debt	1,900	-	-	-	21.03
Current Income Taxes Payable	4.02	202	86	65	-
Current Unearned Revenue	1.29	-	-	-	-
Other Current Liabilities	89.59	44	27	25	78.65
Total Current Liabilities	2,494	527	332	293	150.57
Long-Term Debt	-	-	-	-	36.64
Pension & Post-Retirement Benefits	2.39	-	-	-	-
Other Long-Term Liabilities	0	2	1	1	0.13
Total Liabilities	2,496	529	333	294	187.34
Common Stock	389.89	378	369	362	238.97
Additional Paid-In Capital	379.89	368	359	352	-
Retained Earnings	561.29	503	230	160	-
Treasury Stock	-0.23	-	-	-	-
Comprehensive Income & Other	-1.07	17	-	1	-
Total Common Equity	1,330	1,266	958	875	238.97
Minority Interest	23.93	5	3	-	-
Shareholders' Equity	1,354	1,271	961	875	238.97
Total Liabilities & Equity	3,850	1,800	1,294	1,169	426.31
Total Debt	1,900	-	-	-	57.67
Net Cash (Debt)	-1,275	843	897	818	166.57
Net Cash Growth	-	-6.02%	9.66%	391.08%	-
Net Cash Per Share	-306.07	202.04	215.60	202.78	-
Filing Date Shares Outstanding	3.84	3.8	3.76	3.74	-
Total Common Shares Outstanding	3.84	3.8	3.76	3.74	-
Working Capital	-913.18	932	894	810	-
Book Value Per Share	345.93	333.45	254.61	233.66	-
Tangible Book Value	1,168	1,256	945	859	-
Tangible Book Value Per Share	303.86	330.82	251.16	229.38	-
Buildings	16.02	-	-	-	-
Machinery	87.35	-	-	-	-
Order Backlog	-	506.38	403.46	202.49	-

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