Densan System Holdings 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 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	17,905	22,666	19,279	15,912	12,530	13,673
Short-Term Investments	2,800	-	-	-	-	-
Cash & Short-Term Investments	20,705	22,666	19,279	15,912	12,530	13,673
Cash Growth	-7.64%	17.57%	21.16%	26.99%	-8.36%	4.03%
Receivables	10,380	9,411	8,849	8,516	8,308	8,480
Inventory	1,547	924	1,058	903	1,353	903
Prepaid Expenses	7,154	7,806	6,016	5,254	4,034	2,277
Restricted Cash	29,574	17,319	15,531	15,250	33,417	17,392
Other Current Assets	891	2,873	3,143	2,393	3,098	463
Total Current Assets	70,251	60,999	53,876	48,228	62,740	43,188
Property, Plant & Equipment	2,491	2,568	2,718	2,843	2,890	2,979
Long-Term Investments	3,220	3,284	2,772	3,148	3,495	2,286
Goodwill	513	594	461	604	1,200	1,537
Other Intangible Assets	1,743	1,380	1,284	1,774	1,541	1,197
Long-Term Deferred Tax Assets	228	285	635	452	303	95
Other Long-Term Assets	460	2	1	2	1	1
Total Assets	78,906	69,112	61,747	57,051	72,170	51,283
Accounts Payable	5,504	6,610	5,072	4,464	4,538	3,722
Accrued Expenses	74	92	110	118	42	65
Short-Term Debt	100	-	-	-	-	47
Current Portion of Long-Term Debt	122	131	213	345	501	387
Current Income Taxes Payable	780	260	455	800	615	499
Other Current Liabilities	35,371	35,915	31,954	28,226	44,643	27,179
Total Current Liabilities	51,918	43,008	37,804	33,953	50,339	31,899
Long-Term Debt	374	498	861	1,181	984	655
Pension & Post-Retirement Benefits	269	253	329	543	550	575
Long-Term Deferred Tax Liabilities	156	164	177	278	306	221
Other Long-Term Liabilities	289	308	283	323	327	330
Total Liabilities	53,006	44,231	39,454	36,278	52,506	33,680
Common Stock	2,510	2,503	2,496	2,489	2,482	2,469
Additional Paid-In Capital	2,628	2,628	2,628	2,628	2,656	2,656
Retained Earnings	20,318	19,356	17,323	15,893	14,277	12,283
Treasury Stock	-216	-284	-420	-540	-	-
Comprehensive Income & Other	441	434	55	106	40	1
Total Common Equity	25,681	24,637	22,082	20,576	19,455	17,409
Minority Interest	219	244	211	197	209	194
Shareholders' Equity	25,900	24,881	22,293	20,773	19,664	17,603
Total Liabilities & Equity	78,906	69,112	61,747	57,051	72,170	51,283
Total Debt	596	629	1,074	1,526	1,485	1,089
Net Cash (Debt)	20,109	22,037	18,205	14,386	11,045	12,584
Net Cash Growth	19.55%	21.05%	26.55%	30.25%	-12.23%	5.42%
Net Cash Per Share	1873.84	2061.96	1710.58	1347.20	1023.80	1166.81
Filing Date Shares Outstanding	10.73	10.71	10.66	10.62	10.79	10.78
Total Common Shares Outstanding	10.73	10.71	10.66	10.62	10.79	10.78
Working Capital	18,333	17,991	16,072	14,275	12,401	11,289
Book Value Per Share	2393.06	2300.85	2071.07	1937.17	1803.18	1614.21
Tangible Book Value	23,425	22,663	20,337	18,198	16,714	14,675
Tangible Book Value Per Share	2182.83	2116.49	1907.41	1713.29	1549.13	1360.71
Order Backlog	-	14,539	11,878	8,455	10,451	6,235