Japan Investment Adviser 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	64,763	51,564	28,256	20,906	12,314
Short-Term Investments	4,435	-	-	-	-
Cash & Short-Term Investments	69,198	51,564	28,256	20,906	12,314
Cash Growth	34.20%	82.49%	35.16%	69.77%	-42.40%
Accounts Receivable	17,641	137,934	103,751	53,316	28,258
Other Receivables	4,153	3,921	-	-	1,301
Receivables	38,680	150,153	110,799	56,965	30,938
Inventory	6,135	7,460	17,731	10,962	10,098
Other Current Assets	156,036	12,466	20,336	48,130	23,337
Total Current Assets	270,049	221,643	177,122	136,963	76,687
Property, Plant & Equipment	983	1,015	437	460	355
Long-Term Investments	13,721	10,707	19,116	17,760	11,787
Goodwill	55	113	137	329	244
Other Intangible Assets	74	79	66	96	116
Long-Term Deferred Tax Assets	7,574	6,431	5,712	3,000	1,316
Long-Term Deferred Charges	105	106	125	101	106
Other Long-Term Assets	520	3	2	1	3
Total Assets	293,632	244,906	211,750	175,876	101,764
Accounts Payable	690	995	771	698	338
Accrued Expenses	510	1,473	454	367	338
Short-Term Debt	157,335	125,644	119,438	86,797	38,931
Current Portion of Long-Term Debt	9,285	11,463	8,161	8,062	4,372
Current Income Taxes Payable	4,923	2,260	2,390	2,428	2,360
Current Unearned Revenue	19,849	-	-	-	1,164
Other Current Liabilities	4,692	18,663	18,147	8,538	807
Total Current Liabilities	197,284	160,498	149,361	106,890	48,310
Long-Term Debt	12,936	13,623	11,879	21,303	11,456
Other Long-Term Liabilities	2,950	3,092	1,700	890	321
Total Liabilities	213,170	177,213	162,940	129,083	60,087
Common Stock	16,887	16,887	11,716	11,679	11,679
Additional Paid-In Capital	16,829	16,829	11,658	11,624	11,621
Retained Earnings	37,755	30,841	23,795	22,457	19,011
Treasury Stock	-1,283	-1,471	-1,470	-1,470	-1,470
Comprehensive Income & Other	3,303	3,758	2,161	1,492	715
Total Common Equity	73,491	66,844	47,860	45,782	41,556
Minority Interest	6,971	849	950	1,011	121
Shareholders' Equity	80,462	67,693	48,810	46,793	41,677
Total Liabilities & Equity	293,632	244,906	211,750	175,876	101,764
Total Debt	179,556	150,730	139,478	116,162	54,759
Net Cash (Debt)	-110,358	-99,166	-111,222	-95,256	-42,445
Net Cash Per Share	-1822.82	-1639.60	-3681.91	-3155.13	-1406.28
Filing Date Shares Outstanding	60.55	60.55	60.48	30.19	30.19
Total Common Shares Outstanding	60.55	60.48	30.24	30.19	30.19
Working Capital	72,765	61,145	27,761	30,073	28,377
Book Value Per Share	1213.82	1105.19	1582.62	1516.42	1376.45
Tangible Book Value	73,362	66,652	47,657	45,357	41,196
Tangible Book Value Per Share	1211.69	1102.02	1575.91	1502.35	1364.52

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