ENECHANGE Balance Sheet

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	4,177	4,263	2,435	2,179	3,067	5,571
Cash & Short-Term Investments	4,177	4,263	2,435	2,179	3,067	5,571
Cash Growth	5.61%	75.07%	11.75%	-28.95%	-44.95%	317.62%
Accounts Receivable	959	944	544	532	437	429
Other Receivables	80	65	867	747	337	-
Receivables	1,039	1,009	1,411	1,279	774	429
Inventory	17	-	1	5	122	-
Prepaid Expenses	-	57	-	160	-	-
Other Current Assets	141	146	203	14	564	76
Total Current Assets	5,374	5,475	4,050	3,637	4,527	6,076
Property, Plant & Equipment	50	31	3,016	15	104	18
Long-Term Investments	1,052	1,621	1,205	1,351	1,318	329
Goodwill	108	130	344	357	702	368
Other Intangible Assets	1	2	391	203	106	157
Other Long-Term Assets	-	2	2	1	1	1
Total Assets	6,696	7,411	9,008	5,564	6,758	6,949
Accounts Payable	26	44	56	39	41	13
Accrued Expenses	103	71	195	-	-	-
Short-Term Debt	100	200	4,200	777	674	9
Current Portion of Long-Term Debt	218	447	437	177	142	49
Current Income Taxes Payable	470	749	1,610	1,081	568	449
Other Current Liabilities	917	882	1,057	1,491	658	664
Total Current Liabilities	1,834	2,393	7,555	3,565	2,083	1,184
Long-Term Debt	307	466	1,525	2,533	1,136	950
Long-Term Leases	-	-	266	241	-	-
Long-Term Deferred Tax Liabilities	-	-	3	9	13	-
Other Long-Term Liabilities	1	2	588	694	24	2
Total Liabilities	2,142	2,861	9,937	7,042	3,256	2,136
Common Stock	17	1,506	25	47	3,061	3,036
Additional Paid-In Capital	4,358	11,551	10,071	6,018	2,930	2,904
Retained Earnings	-61	-8,697	-10,780	-7,423	-2,438	-1,059
Comprehensive Income & Other	240	190	-245	-120	-51	-68
Total Common Equity	4,554	4,550	-929	-1,478	3,502	4,813
Shareholders' Equity	4,554	4,550	-929	-1,478	3,502	4,813
Total Liabilities & Equity	6,696	7,411	9,008	5,564	6,758	6,949
Total Debt	625	1,113	6,428	3,728	1,952	1,008
Net Cash (Debt)	3,552	3,150	-3,993	-1,549	1,115	4,563
Net Cash Growth	9.73%	-	-	-	-75.56%	693.56%
Net Cash Per Share	83.05	89.72	-116.45	-50.82	37.32	173.51
Filing Date Shares Outstanding	42.77	42.59	35.08	34.85	30.12	29.68
Total Common Shares Outstanding	42.77	42.59	35.08	34.85	30.08	29.47
Working Capital	3,540	3,082	-3,505	72	2,444	4,892
Book Value Per Share	106.47	106.83	-26.49	-42.42	116.44	163.34
Tangible Book Value	4,445	4,418	-1,664	-2,038	2,694	4,288
Tangible Book Value Per Share	103.92	103.73	-47.44	-58.49	89.57	145.52

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