kubell 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
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
Cash & Equivalents	3,057	2,912	2,102	2,850	3,200
Cash & Short-Term Investments	3,057	2,912	2,102	2,850	3,200
Cash Growth	26.14%	38.54%	-26.25%	-10.94%	-
Receivables	334.9	354	432	307	312
Inventory	-	3	6	6	6
Prepaid Expenses	940.56	723	608	690	446
Other Current Assets	15.26	33	68	66	69
Total Current Assets	4,348	4,025	3,216	3,919	4,033
Property, Plant & Equipment	40.49	2	11	29	45
Long-Term Investments	671.78	709	670	290	182
Goodwill	91.83	-	1,029	285	318
Other Intangible Assets	1,018	1,094	1,169	862	566
Long-Term Deferred Tax Assets	-	282	176	-	-
Other Long-Term Assets	0	1	2	1	1
Total Assets	6,169	6,113	6,273	5,386	5,145
Accounts Payable	370.21	1	-	1	-
Accrued Expenses	243.06	303	242	158	93
Short-Term Debt	-	-	1	-	-
Current Portion of Long-Term Debt	369.45	706	262	102	102
Current Income Taxes Payable	130.46	583	317	359	470
Other Current Liabilities	283.79	2,232	1,724	1,112	695
Total Current Liabilities	3,491	3,825	2,546	1,732	1,360
Long-Term Debt	622.53	456	1,114	763	365
Pension & Post-Retirement Benefits	-	3	2	-	-
Long-Term Deferred Tax Liabilities	278.12	-	117	35	39
Other Long-Term Liabilities	8.96	231	72	1	3
Total Liabilities	4,400	4,515	3,851	2,531	1,767
Common Stock	2,989	2,922	2,748	2,622	2,525
Additional Paid-In Capital	2,974	2,908	2,734	2,607	2,511
Retained Earnings	-4,187	-4,232	-3,060	-2,439	-1,761
Total Common Equity	1,769	1,598	2,422	2,790	3,275
Minority Interest	-	-	-	65	103
Shareholders' Equity	1,769	1,598	2,422	2,855	3,378
Total Liabilities & Equity	6,169	6,113	6,273	5,386	5,145
Total Debt	991.98	1,162	1,377	865	467
Net Cash (Debt)	2,065	1,750	725	1,985	2,733
Net Cash Growth	68.66%	141.38%	-63.48%	-27.37%	-
Net Cash Per Share	49.50	42.67	18.05	50.05	73.51
Filing Date Shares Outstanding	41.9	41.76	40.63	40.01	39.5
Total Common Shares Outstanding	41.9	41.66	40.6	39.94	39.42
Working Capital	857.05	200	670	2,187	2,673
Book Value Per Share	42.22	38.36	59.65	69.86	83.07
Tangible Book Value	659.7	504	224	1,643	2,391
Tangible Book Value Per Share	15.74	12.10	5.52	41.14	60.65

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