Headwaters Co.,Ltd Balance Sheet

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2017
Period Ending	Mar '26 Mar 31, 2026	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	858	625	843	897	818	224.24
Cash & Short-Term Investments	858	625	843	897	818	224.24
Cash Growth	9.58%	-25.86%	-6.02%	9.66%	264.78%	97.10%
Receivables	782	828	562	292	265	176.05
Inventory	12	17	3	16	10	8.07
Prepaid Expenses	68	55	48	16	8	-
Other Current Assets	89	55	3	5	2	8.67
Total Current Assets	1,809	1,580	1,459	1,226	1,103	417.03
Property, Plant & Equipment	42	42	40	30	26	3.5
Long-Term Investments	1,974	2,061	275	19	19	-
Goodwill	146	154	-	-	-	-
Other Intangible Assets	6	7	10	13	16	-
Long-Term Deferred Tax Assets	8	4	15	4	3	-
Other Long-Term Assets	2	1	1	2	2	5.78
Total Assets	3,987	3,849	1,800	1,294	1,169	426.31
Accounts Payable	193	216	164	145	155	50.88
Accrued Expenses	181	200	117	74	48	-
Short-Term Debt	1,900	1,900	-	-	-	21.03
Current Income Taxes Payable	142	133	202	86	65	-
Other Current Liabilities	201	44	44	27	25	78.65
Total Current Liabilities	2,617	2,493	527	332	293	150.57
Long-Term Debt	-	-	-	-	-	36.64
Other Long-Term Liabilities	3	4	2	1	1	0.13
Total Liabilities	2,620	2,497	529	333	294	187.34
Common Stock	390	389	378	369	362	238.97
Additional Paid-In Capital	380	379	368	359	352	-
Retained Earnings	573	561	503	230	160	-
Comprehensive Income & Other	-4	-	17	-	1	-
Total Common Equity	1,339	1,329	1,266	958	875	238.97
Minority Interest	28	23	5	3	-	-
Shareholders' Equity	1,367	1,352	1,271	961	875	238.97
Total Liabilities & Equity	3,987	3,849	1,800	1,294	1,169	426.31
Total Debt	1,900	1,900	-	-	-	57.67
Net Cash (Debt)	-1,042	-1,275	843	897	818	166.57
Net Cash Growth	-	-	-6.02%	9.66%	391.08%	-
Net Cash Per Share	-246.96	-306.11	202.04	215.60	202.78	-
Filing Date Shares Outstanding	3.84	3.84	3.8	3.76	3.74	-
Total Common Shares Outstanding	3.84	3.84	3.8	3.76	3.74	-
Working Capital	-808	-913	932	894	810	-
Book Value Per Share	348.33	345.73	333.45	254.61	233.66	-
Tangible Book Value	1,187	1,168	1,256	945	859	-
Tangible Book Value Per Share	308.79	303.85	330.82	251.16	229.38	-
Order Backlog	-	524.67	506.38	403.46	202.49	-

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