Frontier Management Balance Sheet

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	5,323	7,561	5,838	3,199	1,784
Short-Term Investments	3,265	-	-	-	-
Cash & Short-Term Investments	8,588	7,561	5,838	3,199	1,784
Cash Growth	13.59%	29.51%	82.49%	79.32%	-6.06%
Receivables	1,461	3,609	1,996	912	1,067
Inventory	600.84	-	-	-	-
Other Current Assets	785.1	300	325	165	147
Total Current Assets	11,435	11,470	8,159	4,276	2,998
Property, Plant & Equipment	935.58	223	282	313	208
Long-Term Investments	1,267	1,792	1,748	420	324
Goodwill	3,081	206	235	265	-
Other Intangible Assets	832.29	38	24	29	11
Long-Term Deferred Tax Assets	333.49	431	419	346	277
Long-Term Deferred Charges	2.17	3	5	7	-
Other Long-Term Assets	548.08	2	2	2	1
Total Assets	18,435	14,165	10,874	5,658	3,819
Accounts Payable	841.31	127	111	71	45
Accrued Expenses	967.21	948	1,037	769	553
Short-Term Debt	800	-	-	-	-
Current Portion of Long-Term Debt	548.49	248	237	138	-
Current Income Taxes Payable	100.12	407	604	417	354
Other Current Liabilities	525.39	392	580	473	330
Total Current Liabilities	3,783	2,122	2,569	1,868	1,282
Long-Term Debt	4,050	1,148	1,352	639	-
Long-Term Deferred Tax Liabilities	371.91	13	-	-	-
Other Long-Term Liabilities	286.73	134	132	138	85
Total Liabilities	8,491	3,417	4,053	2,645	1,367
Common Stock	395.02	386	374	210	178
Additional Paid-In Capital	754.3	745	734	577	558
Retained Earnings	317.48	1,424	2,599	2,139	1,696
Treasury Stock	-8.36	-8	-8	-8	-36
Comprehensive Income & Other	288.02	153	57	42	56
Total Common Equity	1,746	2,700	3,756	2,960	2,452
Minority Interest	8,197	8,048	3,065	53	-
Shareholders' Equity	9,944	10,748	6,821	3,013	2,452
Total Liabilities & Equity	18,435	14,165	10,874	5,658	3,819
Total Debt	5,398	1,396	1,589	777	-
Net Cash (Debt)	3,190	6,165	4,249	2,422	1,784
Net Cash Growth	-48.26%	45.09%	75.43%	35.76%	-6.06%
Net Cash Per Share	271.22	525.26	361.81	208.53	154.04
Filing Date Shares Outstanding	11.77	11.74	11.73	11.48	11.4
Total Common Shares Outstanding	11.77	11.73	11.72	11.46	11.39
Working Capital	7,653	9,348	5,590	2,408	1,716
Book Value Per Share	148.35	230.16	320.52	258.23	215.23
Tangible Book Value	-2,166	2,456	3,497	2,666	2,441
Tangible Book Value Per Share	-184.03	209.36	298.42	232.58	214.26

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