INCLUSIVE Holdings 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	1,683	2,152	2,214	1,784	1,248	1,652
Cash & Short-Term Investments	1,683	2,152	2,214	1,784	1,248	1,652
Cash Growth	-16.35%	-2.80%	24.10%	42.95%	-24.45%	39.29%
Receivables	455	402	471	589	450	223
Inventory	201	82	87	114	-	-
Other Current Assets	100	111	75	139	103	91
Total Current Assets	2,439	2,747	2,847	2,626	1,801	1,966
Property, Plant & Equipment	497	478	707	735	65	52
Long-Term Investments	130	310	379	323	343	72
Goodwill	-	17	631	828	798	184
Other Intangible Assets	173	205	670	932	26	-
Long-Term Deferred Tax Assets	91	4	69	67	89	68
Long-Term Deferred Charges	-	-	-	-	-	1
Other Long-Term Assets	1	2	1	2	3	2
Total Assets	3,331	3,763	5,304	5,513	3,125	2,345
Accounts Payable	265	292	232	350	251	51
Accrued Expenses	9	5	4	5	-	-
Short-Term Debt	180	183	150	165	150	150
Current Portion of Long-Term Debt	62	72	95	166	185	161
Current Income Taxes Payable	80	11	79	68	17	4
Other Current Liabilities	360	350	382	470	267	139
Total Current Liabilities	956	913	942	1,224	870	505
Long-Term Debt	390	434	535	667	296	326
Pension & Post-Retirement Benefits	9	10	10	10	-	-
Long-Term Deferred Tax Liabilities	157	172	327	420	-	-
Other Long-Term Liabilities	107	106	85	121	39	15
Total Liabilities	1,619	1,635	1,899	2,442	1,205	846
Common Stock	14	14	1,350	1,341	622	377
Additional Paid-In Capital	1,530	2,859	1,500	1,491	772	527
Retained Earnings	-81	-1,157	-77	-394	477	593
Comprehensive Income & Other	64	60	51	22	11	2
Total Common Equity	1,527	1,776	2,824	2,460	1,882	1,499
Minority Interest	185	352	581	611	38	-
Shareholders' Equity	1,712	2,128	3,405	3,071	1,920	1,499
Total Liabilities & Equity	3,331	3,763	5,304	5,513	3,125	2,345
Total Debt	632	689	780	998	631	637
Net Cash (Debt)	1,051	1,463	1,434	786	617	1,015
Net Cash Growth	-18.72%	2.02%	82.44%	27.39%	-39.21%	-10.73%
Net Cash Per Share	104.56	145.77	141.47	80.47	78.35	136.48
Filing Date Shares Outstanding	10.05	10.05	10.01	9.99	9.64	7.81
Total Common Shares Outstanding	10.05	10.05	10.01	9.96	8.21	7.81
Working Capital	1,483	1,834	1,905	1,402	931	1,461
Book Value Per Share	151.90	176.69	282.16	246.90	229.28	192.02
Tangible Book Value	1,354	1,554	1,523	700	1,058	1,315
Tangible Book Value Per Share	134.69	154.61	152.17	70.26	128.89	168.45

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