Waseda Academy 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	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Cash & Equivalents	8,464	8,091	7,666	6,306	5,207	5,310
Short-Term Investments	32.01	30	-	-	-	-
Cash & Short-Term Investments	8,496	8,121	7,666	6,306	5,207	5,310
Cash Growth	25.50%	5.93%	21.57%	21.11%	-1.94%	180.36%
Receivables	3,449	2,119	1,981	1,836	1,889	1,759
Inventory	480.3	214	211	227	300	289
Prepaid Expenses	809.57	718	507	497	476	424
Other Current Assets	58.86	79	32	38	32	16
Total Current Assets	13,294	11,251	10,397	8,904	7,904	7,798
Property, Plant & Equipment	5,967	5,903	5,955	5,598	5,583	5,050
Long-Term Investments	704.2	4,521	3,982	3,847	3,562	3,692
Goodwill	616.77	751	932	1,113	1,302	840
Other Intangible Assets	1,047	1,020	828	691	462	512
Long-Term Deferred Tax Assets	935.52	1,037	962	960	849	692
Other Long-Term Assets	3,788	2	1	1	1	2
Total Assets	26,353	24,485	23,057	21,114	19,663	18,586
Accounts Payable	1,746	365	359	346	345	282
Accrued Expenses	2,171	1,892	1,722	1,646	1,633	1,472
Current Portion of Long-Term Debt	-	-	-	-	-	61
Current Portion of Leases	179.88	181	203	217	223	241
Current Income Taxes Payable	272.32	2,259	2,071	2,021	1,737	1,579
Other Current Liabilities	2,555	1,081	1,017	1,058	976	858
Total Current Liabilities	6,924	5,778	5,372	5,288	4,914	4,493
Long-Term Debt	-	-	-	-	-	309
Long-Term Leases	389.88	301	317	333	386	495
Pension & Post-Retirement Benefits	1,174	1,129	1,142	1,078	1,024	982
Other Long-Term Liabilities	2,131	2,093	1,964	1,884	1,908	1,303
Total Liabilities	10,619	9,301	8,795	8,583	8,232	7,582
Common Stock	2,014	2,014	2,014	2,014	2,014	2,014
Additional Paid-In Capital	2,096	2,095	2,019	2,019	2,019	2,019
Retained Earnings	12,195	11,694	10,201	8,563	7,447	6,872
Treasury Stock	-791.25	-791	-113	-143	-140	-140
Comprehensive Income & Other	219.56	172	141	78	91	239
Shareholders' Equity	15,733	15,184	14,262	12,531	11,431	11,004
Total Liabilities & Equity	26,353	24,485	23,057	21,114	19,663	18,586
Total Debt	569.75	482	520	550	609	1,106
Net Cash (Debt)	7,927	7,639	7,146	5,756	4,598	4,204
Net Cash Growth	26.87%	6.90%	24.15%	25.19%	9.37%	530.29%
Net Cash Per Share	429.06	414.94	377.91	305.16	243.83	263.22
Filing Date Shares Outstanding	18.47	18.48	18.45	18.86	18.86	18.86
Total Common Shares Outstanding	18.47	18.48	18.92	18.86	18.86	18.86
Working Capital	6,370	5,473	5,025	3,616	2,990	3,305
Book Value Per Share	851.63	821.63	753.83	664.54	606.19	583.55
Tangible Book Value	14,070	13,413	12,502	10,727	9,667	9,652
Tangible Book Value Per Share	761.59	725.80	660.81	568.87	512.64	511.85

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