Balance Sheets-2

(Millions of yen)

	As of May 31, 2025	As of May 31, 2026
Liabilities
Current liabilities
Accounts payable - trade	2,771	2,670
Short-term borrowings	6,043	5,739
Lease liabilities	311	256
Accounts payable - other	7,184	6,944
Accrued expenses	18,596	17,996
Income taxes payable	1,621	2,166
Accrued consumption taxes	3,484	3,976
Contract liabilities	3,162	3,462
Deposits received	38,741	11,921
Provision for bonuses	4,217	4,112
Provision for bonuses for directors (and other officers)	20	15
Asset retirement obligations	66	3
Other	1,506	910
Total current liabilities	87,728	60,177
Non-current liabilities
Bonds payable	2,100	1,570
Long-term borrowings	23,671	30,952
Lease liabilities	551	428
Provision for share awards for directors (and other officers)	253	253
Allowance for stock benefit for employee	278	277
Retirement benefit liability	2,359	2,333
Deferred tax liabilities	1,333	1,492
Asset retirement obligations	2,923	2,962
Other	2,703	2,102
Total non-current liabilities	36,175	42,374
Total liabilities	123,904	102,552
Net assets
Shareholders' equity
Share capital	5,000	5,000
Capital surplus	15,963	16,046
Retained earnings	115,788	109,443
Treasury shares	(2,577)	(4,842)
Total shareholders' equity	134,174	125,647
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	95	(25)
Foreign currency translation adjustment	530	711
Remeasurements of defined benefit plans	133	556
Total accumulated other comprehensive income	760	1,241
Share acquisition rights	2	0
Non-controlling interests	6,196	6,041
Total net assets	141,134	132,929
Total liabilities and net assets	265,038	235,482

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