Japan Investment Adviser Balance Sheet

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	63,839	64,833	51,564	28,256	20,906	12,314
Short-Term Investments	4,277	4,189	-	-	-	-
Cash & Short-Term Investments	68,116	69,022	51,564	28,256	20,906	12,314
Cash Growth	-8.20%	33.86%	82.49%	35.16%	69.77%	-42.40%
Accounts Receivable	18,998	158,488	137,934	103,751	53,316	28,258
Other Receivables	3,030	4,153	3,921	-	-	1,301
Receivables	39,968	179,527	150,153	110,799	56,965	30,938
Inventory	6,147	8,150	7,460	17,731	10,962	10,098
Other Current Assets	116,928	13,350	12,466	20,336	48,130	23,337
Total Current Assets	231,159	270,049	221,643	177,122	136,963	76,687
Property, Plant & Equipment	973	983	1,015	437	460	355
Long-Term Investments	10,039	14,238	10,707	19,116	17,760	11,787
Goodwill	-	55	113	137	329	244
Other Intangible Assets	128	74	79	66	96	116
Long-Term Deferred Tax Assets	5,458	7,574	6,431	5,712	3,000	1,316
Long-Term Deferred Charges	100	105	106	125	101	106
Other Long-Term Assets	774	3	3	2	1	3
Total Assets	250,410	293,632	244,906	211,750	175,876	101,764
Accounts Payable	535	690	995	771	698	338
Accrued Expenses	410	510	1,473	454	367	338
Short-Term Debt	122,089	157,335	125,644	119,438	86,797	38,931
Current Portion of Long-Term Debt	9,534	9,285	11,463	8,161	8,062	4,372
Current Income Taxes Payable	443	4,923	2,260	2,390	2,428	2,360
Current Unearned Revenue	13,739	-	-	-	-	1,164
Other Current Liabilities	3,922	24,541	18,663	18,147	8,538	807
Total Current Liabilities	150,672	197,284	160,498	149,361	106,890	48,310
Long-Term Debt	12,515	12,936	13,623	11,879	21,303	11,456
Other Long-Term Liabilities	3,152	2,949	3,092	1,700	890	321
Total Liabilities	166,339	213,169	177,213	162,940	129,083	60,087
Common Stock	16,887	16,887	16,887	11,716	11,679	11,679
Additional Paid-In Capital	16,829	16,829	16,829	11,658	11,624	11,621
Retained Earnings	41,258	37,755	30,841	23,795	22,457	19,011
Treasury Stock	-1,283	-1,283	-1,471	-1,470	-1,470	-1,470
Comprehensive Income & Other	3,494	3,304	3,758	2,161	1,492	715
Total Common Equity	77,185	73,492	66,844	47,860	45,782	41,556
Minority Interest	6,886	6,971	849	950	1,011	121
Shareholders' Equity	84,071	80,463	67,693	48,810	46,793	41,677
Total Liabilities & Equity	250,410	293,632	244,906	211,750	175,876	101,764
Total Debt	144,138	179,556	150,730	139,478	116,162	54,759
Net Cash (Debt)	-76,022	-110,534	-99,166	-111,222	-95,256	-42,445
Net Cash Per Share	-1255.59	-1825.73	-1639.60	-3681.91	-3155.13	-1406.28
Filing Date Shares Outstanding	60.54	60.54	60.55	60.48	30.19	30.19
Total Common Shares Outstanding	60.54	60.55	60.48	30.24	30.19	30.19
Working Capital	80,487	72,765	61,145	27,761	30,073	28,377
Book Value Per Share	1274.87	1213.84	1105.19	1582.62	1516.42	1376.45
Tangible Book Value	77,057	73,363	66,652	47,657	45,357	41,196
Tangible Book Value Per Share	1272.75	1211.71	1102.02	1575.91	1502.35	1364.52

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