Pigeon 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	34,929	39,609	39,201	34,357	34,283	35,218
Cash & Short-Term Investments	34,929	39,609	39,201	34,357	34,283	35,218
Cash Growth	9.85%	1.04%	14.10%	0.22%	-2.66%	-5.23%
Accounts Receivable	20,440	18,590	18,335	14,167	15,749	16,059
Other Receivables	-	512	399	1,158	353	809
Receivables	20,440	19,102	18,734	15,325	16,102	16,868
Inventory	18,130	16,264	14,010	13,533	15,317	12,705
Other Current Assets	2,841	1,586	1,517	1,585	1,441	1,463
Total Current Assets	76,340	76,561	73,462	64,800	67,143	66,254
Property, Plant & Equipment	29,342	29,676	30,841	31,952	30,132	27,093
Long-Term Investments	2,927	1,176	1,174	1,072	1,249	1,200
Goodwill	-	-	20	215	380	534
Other Intangible Assets	1,154	1,179	1,275	1,268	1,928	2,038
Long-Term Deferred Tax Assets	-	1,495	1,535	1,131	900	922
Other Long-Term Assets	1	1	1	2	1	1
Total Assets	109,764	110,088	108,308	100,440	101,733	98,042
Accounts Payable	7,278	5,487	5,564	5,008	6,608	5,710
Accrued Expenses	1,015	3,901	3,256	2,728	2,926	2,891
Short-Term Debt	-	-	-	76	-	-
Current Income Taxes Payable	1,464	4,829	4,767	2,848	3,362	3,433
Other Current Liabilities	9,784	3,910	3,796	2,872	2,667	3,038
Total Current Liabilities	19,541	18,127	17,383	13,532	15,563	15,072
Long-Term Leases	-	1,359	1,769	1,824	2,057	-
Pension & Post-Retirement Benefits	747	752	659	612	566	478
Long-Term Deferred Tax Liabilities	-	3,633	3,405	2,984	3,004	3,209
Other Long-Term Liabilities	5,034	331	486	402	591	2,474
Total Liabilities	25,322	24,202	23,702	19,354	21,781	21,233
Common Stock	5,199	5,199	5,199	5,199	5,199	5,199
Additional Paid-In Capital	5,132	5,132	5,132	5,132	5,132	5,179
Retained Earnings	55,453	57,717	58,303	59,033	60,762	61,163
Treasury Stock	-1,314	-1,360	-1,489	-1,488	-1,387	-1,479
Comprehensive Income & Other	17,133	16,228	13,998	9,705	6,989	3,822
Total Common Equity	81,603	82,916	81,143	77,581	76,695	73,884
Minority Interest	2,839	2,970	3,463	3,505	3,257	2,925
Shareholders' Equity	84,442	85,886	84,606	81,086	79,952	76,809
Total Liabilities & Equity	109,764	110,088	108,308	100,440	101,733	98,042
Total Debt	-	1,359	1,769	1,900	2,057	-
Net Cash (Debt)	34,929	38,250	37,432	32,457	32,226	35,218
Net Cash Growth	9.85%	2.19%	15.33%	0.72%	-8.50%	-5.23%
Net Cash Per Share	291.98	319.76	313.00	271.34	269.33	294.38
Filing Date Shares Outstanding	119.63	119.63	119.59	119.59	119.67	119.64
Total Common Shares Outstanding	119.63	119.63	119.59	119.59	119.66	119.64
Working Capital	56,799	58,434	56,079	51,268	51,580	51,182
Book Value Per Share	682.11	693.10	678.51	648.73	640.96	617.58
Tangible Book Value	80,449	81,737	79,848	76,098	74,387	71,312
Tangible Book Value Per Share	672.47	683.25	667.69	636.33	621.67	596.08

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