Kaizen Platform Balance Sheet

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	2,826	2,911	2,544	3,337	3,006	2,660
Cash & Short-Term Investments	2,826	2,911	2,544	3,337	3,006	2,660
Cash Growth	12.77%	14.43%	-23.76%	11.01%	13.01%	186.02%
Receivables	597	642	679	598	352	206
Inventory	-	16	15	15	10	-
Prepaid Expenses	-	73	56	71	56	29
Other Current Assets	95	35	64	15	14	13
Total Current Assets	3,518	3,677	3,358	4,036	3,438	2,908
Property, Plant & Equipment	24	22	21	22	13	4
Long-Term Investments	163	139	102	143	156	72
Goodwill	478	532	603	677	273	-
Other Intangible Assets	5	7	229	314	426	323
Long-Term Deferred Tax Assets	44	40	55	42	49	80
Other Long-Term Assets	2	1	1	2	2	1
Total Assets	4,234	4,418	4,369	5,236	4,357	3,388
Accounts Payable	327	340	347	365	137	79
Accrued Expenses	-	50	60	47	50	41
Short-Term Debt	-	-	-	283	-	-
Current Portion of Long-Term Debt	198	202	280	467	-	-
Current Income Taxes Payable	20	105	92	128	103	114
Other Current Liabilities	174	51	82	79	48	50
Total Current Liabilities	719	748	861	1,369	338	284
Long-Term Debt	563	712	317	586	671	250
Other Long-Term Liabilities	2	2	2	2	1	-1
Total Liabilities	1,284	1,462	1,180	1,957	1,010	533
Common Stock	1,777	1,773	1,766	1,755	1,734	1,518
Additional Paid-In Capital	3,532	3,529	3,682	3,774	3,753	3,537
Retained Earnings	-2,648	-2,704	-2,532	-2,511	-2,225	-2,123
Comprehensive Income & Other	289	358	235	163	20	-77
Total Common Equity	2,950	2,956	3,151	3,181	3,282	2,855
Minority Interest	-	-	38	98	65	-
Shareholders' Equity	2,950	2,956	3,189	3,279	3,347	2,855
Total Liabilities & Equity	4,234	4,418	4,369	5,236	4,357	3,388
Total Debt	761	914	597	1,336	671	250
Net Cash (Debt)	2,065	1,997	1,947	2,001	2,335	2,410
Net Cash Growth	4.82%	2.57%	-2.70%	-14.30%	-3.11%	159.14%
Net Cash Per Share	121.64	118.04	115.68	120.61	147.24	253.54
Filing Date Shares Outstanding	17.01	16.96	16.88	16.81	16.44	15.8
Total Common Shares Outstanding	17.01	16.96	16.87	16.7	16.36	15.42
Working Capital	2,799	2,929	2,497	2,667	3,100	2,624
Book Value Per Share	173.40	174.27	186.83	190.47	200.55	185.10
Tangible Book Value	2,467	2,417	2,319	2,190	2,583	2,532
Tangible Book Value Per Share	145.01	142.49	137.50	131.13	157.84	164.15

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.