TOP CULTURE Balance Sheet

Financials in millions JPY. Fiscal year is November - October.

Millions JPY. Fiscal year is Nov - Oct.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jan '26 Jan 31, 2026	Oct '25 Oct 31, 2025	Oct '24 Oct 31, 2024	Oct '23 Oct 31, 2023	Oct '22 Oct 31, 2022	Oct '21 Oct 31, 2021
Cash & Equivalents	2,292	1,204	988	1,570	1,583	1,324
Cash & Short-Term Investments	2,292	1,204	988	1,570	1,583	1,324
Cash Growth	115.82%	21.86%	-37.07%	-0.82%	19.56%	-40.41%
Accounts Receivable	497	478	404	351	425	329
Other Receivables	157	132	190	162	217	94
Receivables	654	610	594	513	642	423
Inventory	6,135	6,248	6,920	7,268	7,311	7,596
Prepaid Expenses	215	211	233	255	263	265
Other Current Assets	25	10	13	110	73	125
Total Current Assets	9,321	8,283	8,748	9,716	9,872	9,733
Property, Plant & Equipment	4,334	4,405	4,576	4,795	5,363	5,614
Long-Term Investments	1,974	1,988	2,320	2,567	2,898	2,931
Goodwill	91	97	118	139	-	-
Other Intangible Assets	24	18	16	18	43	45
Other Long-Term Assets	2	1	2	1	2	2
Total Assets	15,746	14,792	15,780	17,236	18,178	18,325
Accounts Payable	4,604	3,422	3,230	2,688	2,661	2,583
Accrued Expenses	10	20	28	30	36	42
Short-Term Debt	4,700	4,800	4,500	4,500	4,400	3,200
Current Portion of Long-Term Debt	559	534	587	644	701	1,156
Current Portion of Leases	346	348	355	335	354	420
Current Income Taxes Payable	455	495	342	329	460	519
Other Current Liabilities	472	382	292	580	224	239
Total Current Liabilities	11,146	10,001	9,334	9,106	8,836	8,159
Long-Term Debt	935	1,075	1,607	2,195	2,367	2,500
Long-Term Leases	2,296	2,382	2,708	2,920	3,069	3,007
Pension & Post-Retirement Benefits	88	90	91	95	103	111
Other Long-Term Liabilities	480	473	425	410	402	740
Total Liabilities	14,945	14,021	14,165	14,726	14,777	14,517
Common Stock	100	100	100	2,342	2,007	2,007
Additional Paid-In Capital	3,926	3,989	4,115	2,045	1,909	4,403
Retained Earnings	-3,005	-3,092	-2,361	-1,643	-267	-2,367
Treasury Stock	-270	-270	-270	-270	-270	-270
Comprehensive Income & Other	9	9	8	6	-7	7
Total Common Equity	760	736	1,592	2,480	3,372	3,780
Minority Interest	41	35	23	30	29	28
Shareholders' Equity	801	771	1,615	2,510	3,401	3,808
Total Liabilities & Equity	15,746	14,792	15,780	17,236	18,178	18,325
Total Debt	8,836	9,139	9,757	10,594	10,891	10,283
Net Cash (Debt)	-6,544	-7,935	-8,769	-9,024	-9,308	-8,959
Net Cash Per Share	-398.71	-508.30	-561.72	-727.55	-770.24	-741.36
Filing Date Shares Outstanding	15.61	15.61	15.61	15.61	12.08	12.08
Total Common Shares Outstanding	15.61	15.61	15.61	15.61	12.08	12.08
Working Capital	-1,825	-1,718	-586	610	1,036	1,574
Book Value Per Share	48.68	47.15	101.98	158.86	279.03	312.80
Tangible Book Value	645	621	1,458	2,323	3,329	3,735
Tangible Book Value Per Share	41.32	39.78	93.40	148.81	275.48	309.07

Updated Jan 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.