ELEMENTS Balance Sheet

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

Millions JPY. Fiscal year is Dec - Nov.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '26 Feb 28, 2026	Nov '25 Nov 30, 2025	Nov '24 Nov 30, 2024	Nov '23 Nov 30, 2023	Nov '22 Nov 30, 2022	Nov '21 Nov 30, 2021
Cash & Equivalents	2,652	3,275	2,746	2,791	2,062	2,304
Cash & Short-Term Investments	2,652	3,275	2,746	2,791	2,062	2,304
Cash Growth	-9.77%	19.26%	-1.61%	35.35%	-10.50%	-11.21%
Receivables	729	735	376	359	169	201
Inventory	-	-	3	-	3	11
Prepaid Expenses	-	443	-	-	-	-
Other Current Assets	372	42	82	46	62	41
Total Current Assets	3,753	4,495	3,207	3,196	2,296	2,557
Property, Plant & Equipment	541	322	244	50	16	15
Long-Term Investments	221	221	207	246	36	38
Goodwill	1,005	1,032	304	-	-	-
Other Intangible Assets	1,436	1,168	948	117	1	3
Long-Term Deferred Tax Assets	-	-	5	-	-	-
Long-Term Deferred Charges	-	-	-	18	-	-
Other Long-Term Assets	1	1	1	2	2	1
Total Assets	6,957	7,239	4,916	3,629	2,351	2,614
Accounts Payable	89	107	43	23	23	38
Accrued Expenses	-	11	8	-	-	-
Short-Term Debt	613	642	233	652	637	353
Current Portion of Long-Term Debt	81	472	81	1	2	246
Current Portion of Leases	-	81	47	-	-	-
Current Income Taxes Payable	453	371	249	185	183	169
Other Current Liabilities	214	161	46	15	30	38
Total Current Liabilities	1,450	1,845	707	876	875	844
Long-Term Debt	1,599	1,611	1,221	1,726	791	500
Long-Term Leases	-	197	170	-	-	-
Long-Term Deferred Tax Liabilities	-	-	202	2	-	-
Other Long-Term Liabilities	179	2	9	7	2	2
Total Liabilities	3,228	3,655	2,309	2,611	1,668	1,346
Common Stock	18	10	10	10	100	100
Additional Paid-In Capital	4,979	4,971	3,175	5,330	4,441	4,452
Retained Earnings	-1,679	-1,779	-1,079	-4,456	-4,117	-3,556
Comprehensive Income & Other	300	270	185	134	-1	-
Total Common Equity	3,618	3,472	2,291	1,018	423	996
Minority Interest	111	112	316	-	260	272
Shareholders' Equity	3,729	3,584	2,607	1,018	683	1,268
Total Liabilities & Equity	6,957	7,239	4,916	3,629	2,351	2,614
Total Debt	2,293	3,003	1,752	2,379	1,430	1,099
Net Cash (Debt)	359	272	994	412	632	1,205
Net Cash Growth	-70.95%	-72.64%	141.26%	-34.81%	-47.55%	-39.02%
Net Cash Per Share	14.04	10.92	42.35	19.55	44.42	90.73
Filing Date Shares Outstanding	27.15	27.17	24.52	21.97	20.78	20.05
Total Common Shares Outstanding	27.15	27.12	24.5	21.97	20.05	13.28
Working Capital	2,303	2,650	2,500	2,320	1,421	1,713
Book Value Per Share	133.24	128.05	93.50	46.34	21.10	74.99
Tangible Book Value	1,177	1,272	1,039	901	422	993
Tangible Book Value Per Share	43.34	46.91	42.41	41.02	21.05	74.77

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