Kaizen Platform 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	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 '21 Dec 31, 2021
Cash & Equivalents	2,818	2,966	2,911	2,544	3,337	3,006
Cash & Short-Term Investments	2,818	2,966	2,911	2,544	3,337	3,006
Cash Growth	-2.63%	1.89%	14.43%	-23.76%	11.01%	13.01%
Receivables	560	498	642	679	598	352
Inventory	-	14	16	15	15	10
Prepaid Expenses	-	72	73	56	71	56
Other Current Assets	132	30	35	64	15	14
Total Current Assets	3,510	3,580	3,677	3,358	4,036	3,438
Property, Plant & Equipment	25	24	22	21	22	13
Long-Term Investments	152	156	139	102	143	156
Goodwill	443	461	532	603	677	273
Other Intangible Assets	2	3	7	229	314	426
Long-Term Deferred Tax Assets	42	44	40	55	42	49
Other Long-Term Assets	1	1	1	1	2	2
Total Assets	4,175	4,269	4,418	4,369	5,236	4,357
Accounts Payable	366	350	340	347	365	137
Accrued Expenses	-	58	50	60	47	50
Short-Term Debt	-	-	-	-	283	-
Current Portion of Long-Term Debt	200	202	202	280	467	-
Current Income Taxes Payable	16	94	105	92	128	103
Other Current Liabilities	182	68	51	82	79	48
Total Current Liabilities	764	772	748	861	1,369	338
Long-Term Debt	464	514	712	317	586	671
Other Long-Term Liabilities	1	1	2	2	2	1
Total Liabilities	1,229	1,287	1,462	1,180	1,957	1,010
Common Stock	1,777	1,777	1,773	1,766	1,755	1,734
Additional Paid-In Capital	3,532	3,532	3,529	3,682	3,774	3,753
Retained Earnings	-2,737	-2,674	-2,704	-2,532	-2,511	-2,225
Comprehensive Income & Other	374	347	358	235	163	20
Total Common Equity	2,946	2,982	2,956	3,151	3,181	3,282
Minority Interest	-	-	-	38	98	65
Shareholders' Equity	2,946	2,982	2,956	3,189	3,279	3,347
Total Liabilities & Equity	4,175	4,269	4,418	4,369	5,236	4,357
Total Debt	664	716	914	597	1,336	671
Net Cash (Debt)	2,154	2,250	1,997	1,947	2,001	2,335
Net Cash Growth	11.38%	12.67%	2.57%	-2.70%	-14.30%	-3.11%
Net Cash Per Share	126.69	130.07	118.04	115.68	120.61	147.24
Filing Date Shares Outstanding	17.01	17.01	16.96	16.88	16.81	16.44
Total Common Shares Outstanding	17.01	17.01	16.96	16.87	16.7	16.36
Working Capital	2,746	2,808	2,929	2,497	2,667	3,100
Book Value Per Share	173.17	175.28	174.27	186.83	190.47	200.55
Tangible Book Value	2,501	2,518	2,417	2,319	2,190	2,583
Tangible Book Value Per Share	147.01	148.01	142.49	137.50	131.13	157.84