Balance Sheets-2

(Millions of yen)

	As of May 31, 2023	As of May 31, 2024
LIABILITIES
Current liabilities
Accounts payable-trade	7,427	3,423
Short-term borrowings	10,296	9,263
Lease obligations	383	342
Accounts payable-other	10,334	6,333
Accrued expenses	17,009	16,756
Income taxes payable	3,061	1,138
Accrued consumption taxes	4,482	3,033
Contract liabilities	7,488	2,111
Deposit received	78,690	56,374
Provision for bonuses	4,667	4,205
Provision for bonuses for directors (and other officers)	26	13
Asset retirement obligations	17	98
Other	897	793
Total current liabilities	144,783	103,889
Non-current liabilities
Bonds payable	3,224	2,630
Long-term borrowings	43,505	29,427
Lease liabilities	924	678
Provision for share awards for directors (and other officers)	600	418
Allowance for stock benefit for employee	566	281
Retirement benefit liability	2,409	2,407
Deferred tax liabilities	2,366	1,320
Asset retirement obligations	2,554	2,326
Other	2,945	3,048
Total non-current liabilities	59,096	42,539
Total liabilities	203,880	146,428
NET ASSETS
Shareholders' equity
Share capital	5,000	5,000
Capital surplus	17,094	17,495
Retained earnings	32,941	127,449
Treasury shares	(2,378)	(2,685)
Total shareholders' equity	52,658	147,260
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	853	121
Foreign currency translation adjustment	348	604
Remeasurements of defined benefit plans	138	501
Total accumulated other comprehensive income	1,340	1,228
Share acquisition rights	2	2
Non-controlling interests	17,622	6,171
Total net assets	71,624	154,661
Total liabilities and net assets	275,504	301,090