Welby 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
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Cash & Equivalents	516	711	740	883
Cash & Short-Term Investments	516	711	740	883
Cash Growth	-22.52%	-3.92%	-16.20%	-
Receivables	71	141	182	180
Inventory	32	3	7	-
Other Current Assets	28	23	44	68
Total Current Assets	647	878	973	1,131
Long-Term Investments	75	75	71	73
Goodwill	94	100	122	-
Other Long-Term Assets	3	1	1	1
Total Assets	847	1,054	1,167	1,205
Accounts Payable	29	37	28	41
Current Portion of Long-Term Debt	217	217	200	1
Current Income Taxes Payable	4	8	11	3
Other Current Liabilities	65	97	89	42
Total Current Liabilities	315	359	328	87
Long-Term Debt	321	388	-	-
Other Long-Term Liabilities	2	2	2	1
Total Liabilities	638	749	330	88
Common Stock	1,197	1,167	1,167	916
Additional Paid-In Capital	1,516	1,486	1,486	1,236
Retained Earnings	-2,587	-2,433	-1,894	-1,089
Comprehensive Income & Other	54	52	50	27
Total Common Equity	180	272	809	1,090
Minority Interest	29	33	28	27
Shareholders' Equity	209	305	837	1,117
Total Liabilities & Equity	847	1,054	1,167	1,205
Total Debt	538	605	200	1
Net Cash (Debt)	-22	106	540	882
Net Cash Growth	-	-80.37%	-38.78%	-
Net Cash Per Share	-2.65	12.81	66.18	112.60
Filing Date Shares Outstanding	8.33	8.28	8.28	7.83
Total Common Shares Outstanding	8.33	8.28	8.28	7.83
Working Capital	332	519	645	1,044
Book Value Per Share	21.61	32.87	97.76	139.16
Tangible Book Value	60	172	687	1,090
Tangible Book Value Per Share	7.20	20.78	83.02	139.16