Welby Balance Sheet

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Cash & Equivalents	711	740	883
Cash & Short-Term Investments	711	740	883
Cash Growth	-3.92%	-16.20%	-
Receivables	141	182	180
Inventory	3	7	-
Other Current Assets	23	44	68
Total Current Assets	878	973	1,131
Long-Term Investments	75	71	73
Goodwill	100	122	-
Other Long-Term Assets	1	1	1
Total Assets	1,054	1,167	1,205
Accounts Payable	37	28	41
Current Portion of Long-Term Debt	217	200	1
Current Income Taxes Payable	8	11	3
Other Current Liabilities	97	89	42
Total Current Liabilities	359	328	87
Long-Term Debt	388	-	-
Other Long-Term Liabilities	2	2	1
Total Liabilities	749	330	88
Common Stock	1,167	1,167	916
Additional Paid-In Capital	1,486	1,486	1,236
Retained Earnings	-2,433	-1,894	-1,089
Comprehensive Income & Other	52	50	27
Total Common Equity	272	809	1,090
Minority Interest	33	28	27
Shareholders' Equity	305	837	1,117
Total Liabilities & Equity	1,054	1,167	1,205
Total Debt	605	200	1
Net Cash (Debt)	106	540	882
Net Cash Growth	-80.37%	-38.78%	-
Net Cash Per Share	12.81	66.18	112.60
Filing Date Shares Outstanding	8.28	8.28	7.83
Total Common Shares Outstanding	8.28	8.28	7.83
Working Capital	519	645	1,044
Book Value Per Share	32.87	97.76	139.16
Tangible Book Value	172	687	1,090
Tangible Book Value Per Share	20.78	83.02	139.16

Source: S&P Capital IQ. Standard template. Financial Sources.