Sun Frontier Fudousan 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	36,520	44,920	47,867	42,016	30,053	21,508
Cash & Short-Term Investments	36,520	44,920	47,867	42,016	30,053	21,508
Cash Growth	-3.82%	-6.16%	13.93%	39.81%	39.73%	15.47%
Receivables	3,470	2,090	2,100	1,607	924	1,496
Inventory	164,201	133,712	106,867	80,179	77,339	86,086
Other Current Assets	3,936	2,984	2,684	2,084	2,604	1,695
Total Current Assets	208,127	183,706	159,518	125,886	110,920	110,785
Property, Plant & Equipment	31,091	24,290	22,323	20,410	18,796	10,528
Long-Term Investments	-	4,479	3,982	3,373	5,186	4,497
Goodwill	1,806	923	579	343	408	552
Other Intangible Assets	1,469	1,365	614	472	164	149
Long-Term Deferred Tax Assets	1,666	1,966	1,644	2,033	1,036	973
Other Long-Term Assets	5,382	2	1	2	2	1
Total Assets	250,219	218,190	188,661	152,519	136,512	127,485
Accounts Payable	4,066	3,521	2,810	2,106	1,345	1,634
Accrued Expenses	247	408	359	310	264	249
Short-Term Debt	2,400	100	62	50	30	-
Current Portion of Long-Term Debt	8,699	10,140	12,207	5,442	6,874	5,530
Current Income Taxes Payable	1,910	4,994	2,967	1,699	3,528	901
Other Current Liabilities	9,088	7,500	6,362	6,756	4,169	5,044
Total Current Liabilities	26,410	26,663	24,767	16,363	16,210	13,358
Long-Term Debt	109,446	82,218	67,271	50,170	44,169	41,991
Pension & Post-Retirement Benefits	44	1	1	5	6	11
Other Long-Term Liabilities	5,026	3,417	2,207	2,017	1,676	2,353
Total Liabilities	140,926	112,299	94,246	68,555	62,061	57,713
Common Stock	11,965	11,965	11,965	11,965	11,965	11,965
Additional Paid-In Capital	6,452	6,462	6,433	6,445	6,445	6,445
Retained Earnings	89,701	82,723	71,725	62,289	52,917	48,573
Treasury Stock	-324	-202	-233	-270	-67	-67
Comprehensive Income & Other	900	1,241	658	302	52	-273
Total Common Equity	108,694	102,189	90,548	80,731	71,312	66,643
Minority Interest	599	3,702	3,867	3,233	3,139	3,129
Shareholders' Equity	109,293	105,891	94,415	83,964	74,451	69,772
Total Liabilities & Equity	250,219	218,190	188,661	152,519	136,512	127,485
Total Debt	120,545	92,458	79,540	55,662	51,073	47,521
Net Cash (Debt)	-84,025	-47,538	-31,673	-13,646	-21,020	-26,013
Net Cash Per Share	-1527.22	-863.49	-613.27	-280.57	-431.23	-533.94
Filing Date Shares Outstanding	48.53	48.58	48.55	48.52	48.56	48.7
Total Common Shares Outstanding	48.53	48.58	48.55	48.52	48.7	48.7
Working Capital	181,717	157,043	134,751	109,523	94,710	97,427
Book Value Per Share	2239.59	2103.40	1864.96	1663.93	1464.35	1368.47
Tangible Book Value	105,419	99,901	89,355	79,916	70,740	65,942
Tangible Book Value Per Share	2172.11	2056.30	1840.39	1647.13	1452.60	1354.08

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