Shinagawa Refra 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	18,226	23,024	19,515	18,318	16,886	13,713
Short-Term Investments	13,697	3,713	1,864	5	-	2,004
Cash & Short-Term Investments	31,923	26,737	21,379	18,323	16,886	15,717
Cash Growth	36.28%	25.06%	16.68%	8.51%	7.44%	20.92%
Receivables	48,245	43,540	44,057	37,130	38,107	33,737
Inventory	32,630	34,188	30,746	34,109	22,686	21,115
Other Current Assets	9,327	2,499	1,384	1,872	1,061	1,085
Total Current Assets	122,125	106,964	97,566	91,434	78,740	71,654
Property, Plant & Equipment	50,291	46,637	37,516	33,066	29,328	27,740
Long-Term Investments	12,477	12,872	13,945	11,792	10,562	9,996
Goodwill	25,227	14,957	1,603	6,256	-	-
Other Intangible Assets	22,806	13,125	3,621	844	741	519
Long-Term Deferred Tax Assets	641	657	884	508	337	294
Other Long-Term Assets	3,946	2	2	1	2	2
Total Assets	237,513	195,214	155,137	143,901	119,710	110,205
Accounts Payable	20,174	22,003	19,868	21,410	17,321	13,630
Accrued Expenses	1,154	5,042	4,526	4,151	3,613	3,065
Short-Term Debt	16,166	24,854	19,122	22,066	10,360	13,164
Current Portion of Leases	-	367	76	57	26	30
Current Income Taxes Payable	12,866	3,283	8,169	4,820	5,758	2,549
Other Current Liabilities	15,095	2,408	1,727	2,918	2,322	2,711
Total Current Liabilities	65,455	57,957	53,488	55,422	39,400	35,149
Long-Term Debt	28,870	32,602	8,567	11,957	12,416	468
Long-Term Leases	-	4,093	313	223	52	20
Pension & Post-Retirement Benefits	887	1,069	2,381	2,453	2,479	2,382
Long-Term Deferred Tax Liabilities	-	5,102	2,642	1,632	1,299	906
Other Long-Term Liabilities	14,872	565	780	789	826	947
Total Liabilities	110,084	101,388	68,171	72,476	56,472	39,872
Common Stock	3,300	3,300	3,300	3,300	3,300	3,300
Additional Paid-In Capital	468	466	450	455	419	5,157
Retained Earnings	106,144	80,264	74,178	61,330	54,847	51,089
Treasury Stock	-2,385	-2,432	-2,496	-245	-265	-280
Comprehensive Income & Other	11,816	7,398	7,992	3,275	1,868	1,414
Total Common Equity	119,343	88,996	83,424	68,115	60,169	60,680
Minority Interest	8,086	4,830	3,542	3,310	3,069	9,653
Shareholders' Equity	127,429	93,826	86,966	71,425	63,238	70,333
Total Liabilities & Equity	237,513	195,214	155,137	143,901	119,710	110,205
Total Debt	45,036	61,916	28,078	34,303	22,854	13,682
Net Cash (Debt)	-13,113	-35,179	-6,699	-15,980	-5,968	2,035
Net Cash Per Share	-287.46	-771.63	-143.99	-341.64	-127.66	43.56
Filing Date Shares Outstanding	45.63	45.6	45.56	46.78	46.76	46.73
Total Common Shares Outstanding	45.63	45.6	45.56	46.78	46.76	46.73
Working Capital	56,670	49,007	44,078	36,012	39,340	36,505
Book Value Per Share	2615.27	1951.52	1830.96	1455.93	1286.89	1298.45
Tangible Book Value	71,310	60,914	78,200	61,015	59,428	60,161
Tangible Book Value Per Share	1562.68	1335.74	1716.31	1304.17	1271.05	1287.35
Order Backlog	-	37,048	27,899	28,452	22,714	22,930

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.