Financial Statements

Balance Sheet

*As of January 31
Unit: ¥ million

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		FY2021 (Reporting Period59)	FY2022 (Reporting Period60)	FY2023 (Reporting Period61)	FY2024 (Reporting Period62)	FY2025 (Reporting Period63)
Assets
Current assets		3,962	4,615	5,161	5,600	6,130
Non-current assets		469	473	511	513	556
	Property, plant and equipment	106	82	80	69	78
	Intangible assets	49	37	27	24	20
	Investments and other assets	313	353	404	419	457
Total assets		4,432	5,088	5,673	6,114	6,687
Liabilities
Current liabilities		805	927	953	1,151	1,262
Non-current liabilities		504	579	671	691	716
Total liabilities		1,309	1,506	1,625	1,842	1,979
Net assets
Shareholders’ equity		3,119	3,577	4,042	4,270	4,707
	Share capital	238	238	238	238	238
	Capital surplus	168	168	168	168	168
	Retained earnings	2,713	3,171	3,636	3,864	4,301
	Treasury shares	(0)	(0)	(0)	(0)	(0)
Valuation and translation adjustments		3	4	5	0	0
	Valuation difference on available-for-sale securities	3	4	5	0	0
Total net assets		3,123	3,582	4,047	4,271	4,708
Total liabilities and net assets		4,432	5,088	5,673	6,114	6,687

*Fiscal year ended January 31
Unit: ¥ million

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	FY2021 (Reporting Period59)	FY2022 (Reporting Period60)	FY2023 (Reporting Period61)	FY2024 (Reporting Period62)	FY2025 (Reporting Period63)
Net sales	7,174	8,102	9,242	10,110	11,125
Cost of sales	4,442	5,302	6,168	6,571	7,013
Gross profit	2,731	2,800	3,073	3,539	4,112
Selling, general and administrative expenses	1,844	1,789	1,879	2,016	2,302
Operating profit	887	1,010	1,194	1,522	1,810
Non-operating income	25	24	10	10	13
Non-operating expenses	1	2	1	1	1
Ordinary profit	910	1,032	1,203	1,532	1,821
Extraordinary profit	3	25	–	7	6
Extraordinary losses	1	0	0	13	ー
Profit before income taxes	913	1,057	1,203	1,527	1,828
Income taxes – current	306	368	348	496	588
Income taxes – deferred	(21)	(39)	(40)	(21)	(21)
Profit	628	728	895	1,051	1,260

*Fiscal year ended January 31
Unit: ¥ million

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	FY2021 (Reporting Period59)	FY2022 (Reporting Period60)	FY2023 (Reporting Period61)	FY2024 (Reporting Period62)	FY2025 (Reporting Period63)
Cash flows from operating activities	899	770	872	1,126	1,180
Cash flows from investing activities	(30)	33	(24)	(5)	(49)
Cash flows from financing activities	(232)	(270)	(426)	(818)	(819)
Net increase (decrease) in cash and cash equivalents	636	534	421	301	311
Cash and cash equivalents at beginning of period	2,383	3,019	3,554	3,975	4,277
Cash and cash equivalents at end of period	3,019	3,554	3,975	4,277	4,588