← Tokyo Lifestyle Co., Ltd.

Annual Trend FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026
ASSETS
Current assets:
Cash and Cash Equivalents, at Carrying Value — $17.7m $1.8m $2.5m — —
Prepaid Expense and Other Assets, Current — $9.9m $3.5m $2.7m $13.5m $6.1m
Accounts receivable, net $43.7m $34.8m $89.4m $105.4m $107.3m $186.8m
Accounts receivable - related parties, net $3.5m $6.3m $328k $26k $117 $5k
Merchandise inventories, net $27.1m $30.2m $7.2m $4.4m $4.4m $14.4m
Compensation receivable for consumption tax, current, net — — $3.9m $7.1m $7.2m $8.7m
Prepaid expenses and other current assets, net $3.9m $9.9m $3.5m $2.7m $13.5m $6.1m
Compensation receivable for consumption tax, non-current, net — — $19.2m $2.7m $2.0m —
Long-term prepaid expenses and other non-current assets, net $3.5m $7.4m $5.0m $4.1m $1.8m $1.2m
Allowance For Doubtful Accounts Receivable — — — — ($1.0m) ($1.9m)
Cash And Cash Equivalents — — — — $4.8m $2.1m
Cash Cash Equivalents And Short Term Investments — — — — $4.8m $2.1m
Gross Accounts Receivable — — — — $108.3m $188.7m
Other Current Assets — — — — $13.5m $6.1m
Taxes Receivable — — — — $7.2m $8.7m
Inventory, Net — $30.2m $7.2m $4.4m $4.4m $14.4m
Accounts Receivable, after Allowance for Credit Loss — — $89.4m $26k — —
Assets, Current — $99.6m $106.6m $122.2m $137.2m $219.4m
TOTAL CURRENT ASSETS $95.2m $99.6m $106.6m $122.2m $137.2m $219.4m
Property, Plant and Equipment, Net $10.6m $12.7m $12.9m $9.0m $10.8m $4.5m
Operating Lease, Right-of-Use Asset — $2.9m $2.7m $4.0m $6.0m $7.9m
Other Assets, Noncurrent — $540k $457k — — —
Operating lease right-of-use assets $2.9m $2.9m $2.7m $4.0m $6.0m $7.9m
Additional Financial Items
Accounts Receivable, after Allowance for Credit Loss, Current — $34.8m $89.4m $105.4m $107.3m $186.8m
Deferred Compensation Equity — — $23.7m — — —
Cash $16.4m $17.7m $1.8m $2.5m $4.8m $2.1m
Due from related parties $632k $693k $445k $10k $2k $2.4m
Short-term borrowings $65.1m $40.3m $60.6m $53.2m $57.9m $50.3m
Current portion of long-term borrowings $646k $951k $2.8m $1.7m $707k $1.8m
Due to related parties $236k $53k $298k $43k $55k $852k
Taxes payable — $741k $18.2m $9.4m $350k $1.1m
Operating lease liabilities, current $811k $1.0m $1.3m $1.5m $2.1m $2.4m
Finance lease liabilities, current $175k $321k $370k $171k $138k $86k
Warrants liabilities — $182k $25k $441k $2.5m $1.0m
Other payables and other current liabilities $627k $2.8m $1.5m $2.2m $2.0m $3.2m
Operating lease liabilities, non-current $1.9m $1.9m $1.4m $2.5m $4.0m $5.7m
Finance lease liabilities, non-current $414k $674k $623k $264k $119k $73k
Other non-current liabilities $290k $2.1m $2.5m $1.9m $1.5m $1.3m
Ordinary shares, no par value,100,000,000 shares authorized; 42,327,806 shares and 42,220,206 shares issued and outstanding as of March 31, 2025 and 2024, respectively 2.4m 14.7m 14.7m 16.7m 81k —
Capital reserve — $10.3m $9.1m $10.3m $26.9m $26.9m
Accumulated Depreciation — — — — ($3.7m) ($3.3m)
Buildings And Improvements — — — — $3.1m $427k
Capital Lease Obligations — — — — $6.3m $8.3m
Cash Financial — — — — $4.8m $2.1m
Current Capital Lease Obligation — — — — $2.2m $2.5m
Current Debt — — — — $58.6m $52.1m
Current Debt And Capital Lease Obligation — — — — $60.8m $54.6m
Current Deferred Liabilities — — — — $8.0m $2.3m
Duefrom Related Parties Current — — — — $1k $1.2m
Dueto Related Parties Current — — — — $28k $426k
Dueto Related Parties Non Current — — — — $0 $2.8m
Finished Goods — — — — $4.4m $14.4m
Gross PPE — — — — $20.5m $15.7m
Invested Capital — — — — $108.1m $104.7m
Land And Improvements — — — — $2.3m $0
Leases — — — — $4.0m $3.0m
Line Of Credit — — — — $57.9m $50.3m
Long Term Capital Lease Obligation — — — — $4.1m $5.7m
Machinery Furniture Equipment — — — — $5.0m $4.3m
Net Debt — — — — $60.3m $61.5m
Net PPE — — — — $16.8m $12.4m
Net Tangible Assets — — — — $43.0m $41.1m
Non Current Deferred Liabilities — — — — $1.3m $2.7m
Ordinary Shares Number — — — — $42.3m $42.3m
Other Current Borrowings — — — — $707k $1.8m
Other Current Liabilities — — — — $2.5m $1.0m
Other Equity Adjustments — — — — $15.2m $13.1m
Other Non Current Assets — — — — $1.8m $1.8m
Other Payable — — — — $2.0m $3.2m
Other Properties — — — — $6.0m $7.9m
Properties — — — — $0 $0
Share Issued — — — — $42.3m $42.3m
Tangible Book Value — — — — $43.0m $41.1m
Tradeand Other Payables Non Current — — — — $0 $0
Working Capital — — — — $35.8m $51.1m
Ordinary shares, no par value,100,000,000 shares authorized; 42,327,806 shares and 42,220,206 shares issued and outstanding as of March 31, 2026 and 2025, respectively 2.4m 14.7m 14.7m 16.7m 81k 81k
Accrued Liabilities, Current — $132k — — — —
TOTAL SHAREHOLDERS’ EQUITY $22.2m $44.6m $29.3m $36.0m $43.0m $41.1m
Total Capitalization — — — — $49.5m $52.6m
Total Debt — — — — $71.4m $71.9m
Total Non Current Assets — — — — $20.6m $14.2m
Total Tax Payable — — — — $350k $1.1m
TOTAL EQUITY $43.0m $41.2m
Assets — $123.3m $146.7m $142.0m $157.8m $233.6m
TOTAL ASSETS $112.9m $123.3m $146.7m $142.0m $157.8m $233.6m
LIABILITIES AND EQUITY
Current liabilities:
Operating Lease, Liability, Current — $1.0m $1.3m $1.5m $2.1m $2.4m
Accounts Payable, Current $11.6m $7.8m $12.7m $24.4m $25.1m $105.6m
Long-term Debt, Current Maturities — $951k $2.8m $1.7m $707k $1.8m
Operating Lease, Liability, Noncurrent — $1.9m $1.4m $2.5m $4.0m $5.7m
Long-term Debt, Excluding Current Maturities $6.4m $19.6m $10.3m $5.6m $6.5m $11.5m
Deferred Revenue, Current $186k $105k $146k $55k $8.0m $2.3m
Accounts payable - related parties $63k $132k — $300k $5.4m $308
Payables And Accrued Expenses — — — — $30.1m $110.4m
Liabilities, Current — $54.4m $98.0m $93.4m $101.5m $168.4m
TOTAL CURRENT LIABILITIES $81.6m $54.4m $98.0m $93.4m $101.5m $168.4m
Deferred Income Tax Liabilities, Net — — — $2.2m $1.3m $2.7m
Other Liabilities, Noncurrent — $2.1m $2.5m $1.9m $1.5m $1.3m
Long Term Debt And Capital Lease Obligation — — — — $10.6m $17.3m
Non Current Deferred Taxes Liabilities — — — — $1.3m $2.7m
Deferred Tax Liabilities, Net — — $8.8m $2.2m $1.3m $2.7m
Liabilities — $78.7m $117.4m $106.0m $114.8m $192.5m
TOTAL LIABILITIES $90.7m $78.7m $117.4m $106.0m $114.8m $192.5m
Stockholders’ equity:
Common Stock, Value, Issued — $14.7m $14.7m $16.7m $81k $81k
Additional Paid in Capital — $10.3m $9.1m — $81k $81k
Retained Earnings (Accumulated Deficit) $20.2m $23.5m $13.6m $21.1m $27.7m $27.9m
Accumulated Other Comprehensive Income (Loss), Net of Tax — ($3.9m) ($8.1m) ($12.0m) ($11.7m) ($13.8m)
Accumulated other comprehensive loss ($403k) ($3.9m) ($8.1m) ($12.0m) ($11.7m) ($13.8m)
Capital Stock — — — — $81k $81k
Gains Losses Not Affecting Retained Earnings — — — — $15.2m $13.1m
Stockholders' Equity Attributable to Parent — $44.6m $29.3m $36.0m $43.0m $41.1m
Minority Interest — — — — $0 $100k
Stockholders' Equity Attributable to Noncontrolling Interest — — — — — $100k
Total Equity Gross Minority Interest — — — — $43.0m $41.2m
Total Non Current Liabilities Net Minority Interest — — — — $13.4m $24.1m
Liabilities and Equity — $123.3m $146.7m $142.0m $157.8m $233.6m
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $112.9m $123.3m $146.7m $142.0m $157.8m
TOTAL LIABILITIES AND EQUITY $112.9m $123.3m $146.7m $142.0m $157.8m $233.6m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.