Value Creation Balance Sheet

Financials in millions JPY. Fiscal year is March - February.

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2021
Period Ending	Nov '25 Nov 30, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '21 Feb 28, 2021
Cash & Equivalents	1,040	1,139	1,212	833.15	482.12
Cash & Short-Term Investments	1,040	1,139	1,212	833.15	482.12
Cash Growth	-2.95%	-6.05%	45.51%	72.81%	-
Receivables	3,422	2,730	2,236	2,353	1,127
Prepaid Expenses	28.46	25.78	10.74	13.84	-
Other Current Assets	411.47	45.8	46.05	49.59	53.9
Total Current Assets	4,902	3,941	3,505	3,250	1,663
Property, Plant & Equipment	85.62	90.18	8.71	16.33	16.57
Long-Term Investments	205.54	150.03	0.03	0.03	-
Other Intangible Assets	17.73	21.82	27.27	-	-
Long-Term Deferred Tax Assets	-	11.59	11.53	4.82	-
Other Long-Term Assets	0	90.46	75.51	20.05	24.31
Total Assets	5,322	4,305	3,628	3,291	1,704
Accounts Payable	3,114	2,430	1,762	1,736	911.31
Accrued Expenses	102.87	83.38	56.64	53.77	-
Short-Term Debt	127.5	100	100	120.84	222.19
Current Portion of Long-Term Debt	274.09	214.39	243.22	226.83	-
Current Income Taxes Payable	39.45	20.05	48.71	27.81	-
Current Unearned Revenue	21.25	16.35	13.1	8.71	-
Other Current Liabilities	463.13	483.61	515.71	499.32	96.83
Total Current Liabilities	4,142	3,348	2,739	2,673	1,230
Long-Term Debt	568.09	375.37	379.78	470.17	423.56
Other Long-Term Liabilities	0	-	0	-	-
Total Liabilities	4,710	3,723	3,119	3,144	1,654
Common Stock	50	157.84	157.84	34	50.27
Additional Paid-In Capital	231.68	123.84	123.84	-	-
Retained Earnings	401.81	300.22	227.65	113.29	-
Treasury Stock	-71.16	-0.08	-0.08	-	-
Shareholders' Equity	612.33	581.82	509.25	147.29	50.27
Total Liabilities & Equity	5,322	4,305	3,628	3,291	1,704
Total Debt	969.68	689.75	723	817.83	645.75
Net Cash (Debt)	70.35	449.19	489.32	15.32	-163.63
Net Cash Growth	-82.80%	-8.20%	3094.59%	-	-
Net Cash Per Share	27.57	176.14	209.40	7.66	-
Filing Date Shares Outstanding	2.25	2.3	2.3	2	-
Total Common Shares Outstanding	2.25	2.3	2.3	2	-
Working Capital	760.1	593.11	765.99	576.23	-
Book Value Per Share	272.06	252.88	221.34	73.65	-
Tangible Book Value	483.18	560	481.98	147.29	-
Tangible Book Value Per Share	214.68	243.40	209.49	73.65	-

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