Interim report
Page 1
August 3, 2026 Mitsubishi Corporation FINANCIAL HIGHLIGHTS FOR THE THREE MONTHS ENDED JUNE 30, 2026 (Based on IFRS) (Consolidated) 1. Consolidated operating results for the three months ended June 30, 2026 (1) Revenues and income Note: Figures less than one million yen are rounded. %: change from the same period of the previous year Revenues Profit before tax Profit for the period Profit for the period attributable to owners of the Parent Comprehensive income For the three months ended Millions of Yen % Millions of Yen % Millions of Yen % Millions of Yen % Millions of Yen % June 30, 2026 5,180,999 22.8 388,009 53.4 314,347 42.5 298,524 47.0 445,314 339.1 June 30, 2025 4,218,706 (10.0) 252,923 (49.3) 220,629 (45.1) 203,121 (42.7) 101,414 (89.1) Profit for the period attributable to owners of the Parent per share (basic) Profit for the period attributable to owners of the Parent per share (diluted) For the three months ended Yen Yen June 30, 2026 81.53 81.08 June 30, 2025 51.59 51.34 Note: "Profit for the period attributable to owners of the Parent per share (basic)" and "Profit for the period attributable to owne rs of the Parent per share (diluted)" are calculated based on "Profit for the period attributable to owners of the Parent." (2) Financial position Total assets Total equity Equity attributable to owners of the Parent Ratio of equity attributable to owners of the Parent to total assets As of Millions of Yen Millions of Yen Millions of Yen % June 30, 2026 23,449,799 10,364,799 9,635,220 41.1 March 31, 2026 24,151,695 10,250,574 9,440,567 39.1 2. Dividends Cash dividend per share (Yen) (Record date) 1Q end 2Q end 3Q end 4Q end Annual Fiscal Year ended March 31, 2026 － 55.00 － 55.00 110.00 Fiscal Year ending March 31, 2027 － － － Fiscal Year ending March 31, 2027 (Forecast) 62.00 － 63.00 125.00 Note: Change from the latest released dividend forecast: No 3. Consolidated forecasts for the fiscal year ending March 31, 2027 (April 1, 2026 to March 31, 2027) Note: %: change from the previous year. Profit attributable to owners of the Parent Profit attributable to owners of the Parent per share For the year ending Millions of Yen % Yen March 31, 2027 1,100,000 37.4 300.42 Note: Change from the latest released earnings forecast: No 4. Notes (1) Significant changes in the scope of consolidation during the period: Yes New companies: － Excluded companies:1 (CHIYODA CORPORATION) (2) Changes in accounting policies and accounting estimates -1- Changes in accounting policies required by IFRS: None -2- Changes in accounting policies other than -1-: None -3- Changes in accounting estimates: None Please refer to page 14, "2.(6) Changes in Accounting Policies and Accounting Estimates." (3) Number of shares issued (Common stock) -1- Number of shares issued at quarter-end (including treasury stock) (June 30, 2026) 3,710,528,742 (March 31, 2026) 4,028,926,353 -2- Number of treasury stock at quarter-end (June 30, 2026) 47,834,615 (March 31, 2026) 367,427,682 -3- Average number of shares during each of the three months ended June 30, 2026 and 2025 (June 30, 2026) 3,661,722,534 (June 30, 2025) 3,937,006,950 Disclosure Regarding Quarterly Review Procedures Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None On August 6, 2026, financial results for the three months ended June 30, 2026, with the Independent Accountant's Review Report will be disclosed. Forward-looking Statements Earnings forecasts and other forward -looking statements in this release are based on data currently available to management and certain assumptions that management believes are reasonable. The achievement of said forecasts cannot be promised. Actual results may therefore differ materially from these statements for various reasons. For cautionary notes concerning assumptions for earnings forecasts, please refer to "1. (4) Forecasts for the Year Ending March 31, 2027" on page 6.
Page 2
1 Contents 1. Qualitative Information …………………………………………………………………………… 2 (1) Results of Operations ……………………………………………………………………………… 2 (2) Financial Position ………………………………………………………………………………… 3 (3) Cash Flows ………………………………………………………………………………………… 4 (4) Forecasts for the Year Ending March 31, 2027 …………………………………………………… 6 2. Condensed Consolidated Financial Statements …………………………………………………… 7 (1) Condensed Consolidated Statement of Financial Position ………………………………………… 7 (2) Condensed Consolidated Statement of Income …………………………………………………… 9 (3) Condensed Consolidated Statement of Comprehensive Income ……………………………………10 (4) Condensed Consolidated Statement of Changes in Equity …………………………………………11 (5) Condensed Consolidated Statement of Cash Flows ……………………………………………….12 (6) Changes in Accounting Policies and Accounting Estimates ………………………………………14 (7) Segment Information ………………………………………………………………………………15 (8) Notes Concerning Going Concern Assumption ……………………………………………………17 *Presentation materials and IR meetings on financial results: Presentation materials on financial results can be found on our website. Mitsubishi Corporation will hold an IR meeting on financial results for analysts and institutional investors on August 3, 2026. Contents of the meeting (English and Japanese) will be posted on our website immediately after the meeting.
Page 3
2 1. Qualitative Information (1) Results of Operations (Billions of Yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Change Remarks Revenues 4,218.7 5,181.0 +962.3 Increase due to higher market prices Gross profit 368.5 497.2 +128.7 Increase due to higher market prices Selling, general and administrative expenses (290.5) (346.8) (56.4) Foreign exchange translation effects resulting from the weak yen, and an increase in the allowance for bad debts Gains (losses) on investments 19.6 25.4 +5.9 Revaluation gain following Chiyoda Corporation becoming an equity method affiliate, partially offset by absence of previous year gains related to the sale of shares in TH Foods Gains (losses) on disposal and sale of property, plant and equipment and others (3.7) 5.8 +9.5 Gains related to the sales in the Australian steelmaking coal business Impairment losses and reversals on property, plant and equipment, intangible assets, goodwill and others (0.8) (0.1) +0.7 － Other income (expenses)-net 1.7 12.3 +10.5 Settlement payment related to litigation at Mitsubishi Shokuhin Finance income 60.1 95.0 +34.8 Increase in dividends from resources- related investments Finance costs (40.8) (51.5) (10.8) Increase in interest expenses due to increase in bonds and borrowings Share of profit (loss) of investments accounted for using the equity method 138.7 150.9 +12.2 Gain on sale in the overseas food materials business Profit (loss) before tax 252.9 388.0 +135.1 － Income taxes (32.3) (73.7) (41.4) － Profit (loss) for the period 220.6 314.3 +93.7 － Profit (loss) for the period attributable to Owners of the Parent 203.1 298.5 +95.4 － * May not match with the total of items due to rounding off. The same shall apply hereafter.
Page 4
3 (2) Financial Position (Billions of Yen) March 31, 2026 June 30, 2026 Change Remarks Total assets 24,151.7 23,449.8 (701.9) － Current assets 10,171.7 9,445.0 (726.7) Decrease following Chiyoda Corporation becoming an equity method affiliate, and a decrease in trade and other receivables due to seasonal factors Non-current assets 13,980.0 14,004.8 +24.8 － Total liabilities 13,901.1 13,085.0 (816.1) － Current liabilities 7,208.0 6,486.3 (721.6) Decrease following Chiyoda Corporation becoming an equity method affiliate, and a decrease in trade and other payables due to seasonal factors Non-current liabilities 6,693.2 6,598.7 (94.5) － Total equity 10,250.6 10,364.8 +114.2 － Equity attributable to owners of the Parent 9,440.6 9,635.2 +194.7 Increase in exchange differences on translating foreign operations due to the weak yen Non-controlling interests 810.0 729.6 (80.4) － Net interest-bearing liabilities (excluding lease liabilities) 3,888.2 3,939.8 +51.6 －
Page 5
4 (3) Cash Flows Cash and cash equivalents as of June 30, 2026 was ¥1,720.7 billion, a decrease of ¥120.7 billion from March 31, 2026. The breakdown of cash flows was as follows: (Billions of Yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Change Remarks Cash flows from operating activities 108.2 431.8 +323.6 Breakdown Cash flows from operating transactions and dividend income, despite the payments of income taxes Year-over-year changes Decrease in requirements for working capital and increase in cash flows from operating transactions Cash flows from investing activities (189.5) (246.5) (57.0) Breakdown Decrease in cash and cash equivalents associated with Chiyoda Corporation becoming an equity method affiliate, despite cash flows from collection of loans receivable and the sale of other investments Year-over-year changes Decrease in cash and cash equivalents associated with Chiyoda Corporation becoming an equity method affiliate, despite absence of previous year acquisition of other investments Free cash flows (81.3) 185.3 +266.6 － Cash flows from financing activities (106.9) (323.5) (216.6) Breakdown Payments of dividends and repayments of bonds and debt financing Year-over-year changes Decrease in bond and debt financing, despite absence of previous year acquisition of treasury stock Effect of exchange rate changes on cash and cash equivalents (3.6) 17.5 +21.1 － Net increase (decrease) in cash and cash equivalents (191.8) (120.7) +71.1 － Underlying operating cash flows 250.4 341.2 +90.8 Breakdown Cash flows from profit for the period and dividend income, despite repayments of lease liabilities Year-over-year changes Increase in profit for the period, excluding depreciation and amortization and gains (losses) on investments, property, plant and equipment, intangible assets, goodwill, and others
Page 6
5 In addition to the aforementioned operating cash flows for financial accounting purposes, the Company defined "Underlying operating cash flows" as operating cash flows excluding changes in working capital, but including repayments of lease liabilities that are necessary in the ordinary course of business. This metric is used to assess the Company's sustainable earning power and growth potential. Main items (Segments) included in investing cash flows were as follows: New/Sustaining Investments Sales and Collection - European integrated energy business (Energy & Power Solution) - Australian steelmaking coal business (Mineral Resources) - U.S. data center business (Urban Development & Infrastructure) - Salmon farming business (Food Industry) - Integrated engineering business (Urban Development & Infrastructure) - Listed stocks (Smart-Life Creation) - Australian steelmaking coal business (Mineral Resources) - North American power business (Energy & Power Solution) - Fund business (Smart-Life Creation) - Agriculture-related business (Materials Solution)
Page 7
6 (4) Forecasts for the Year Ending March 31, 2027 There has been no change to the forecasts for the year ending March 31, 2027 announced on May 1, 2026. Note: Earnings forecast and other forward -looking statements in this release are based on data currently available to management and certain assumptions that management believes are reasonable. Therefore, they do not constitute a guarantee that they will be achieved. Actual results may differ materially from these statements for various reasons.
Page 8
7 2. Condensed Consolidated Financial Statements (1) Condensed Consolidated Statement of Financial Position as of March 31, 2026 and June 30, 2026 ASSETS Millions of Yen March 31, 2026 June 30, 2026 Current assets Cash and cash equivalents 1,841,464 1,720,747 Time deposits 17,267 59,367 Short-term investments － 59,786 Trade and other receivables 4,186,359 3,767,512 Other financial assets 567,265 476,829 Inventories 2,076,585 2,123,576 Biological assets 203,648 199,374 Advance payments to suppliers 150,131 152,233 Assets classified as held for sale 169,943 173,359 Other current assets 959,001 712,171 Total current assets 10,171,663 9,444,954 Non-current assets Investments accounted for using the equity method 5,213,027 5,364,678 Other investments 2,253,659 2,162,942 Trade and other receivables 787,507 779,134 Other financial assets 75,636 77,629 Property, plant and equipment 3,499,226 3,544,950 Investment property 67,231 68,972 Intangible assets and goodwill 913,374 824,245 Right-of-use assets 720,949 735,644 Deferred tax assets 74,727 80,633 Other non-current assets 374,696 366,018 Total non-current assets 13,980,032 14,004,845 Total 24,151,695 23,449,799
Page 9
8 LIABILITIES AND EQUITY Millions of Yen March 31, 2026 June 30, 2026 Current liabilities Bonds and borrowings 1,610,898 1,684,092 Trade and other payables 3,078,682 2,866,566 Lease liabilities 123,448 126,246 Other financial liabilities 467,241 313,723 Advances from customers 334,986 152,702 Income tax payables 81,551 72,990 Provisions 105,780 101,274 Liabilities directly associated with assets classified as held for sale 152,919 122,724 Other current liabilities 1,252,465 1,046,017 Total current liabilities 7,207,970 6,486,334 Non-current liabilities Bonds and borrowings 4,136,045 4,035,804 Trade and other payables 63,905 63,621 Lease liabilities 637,460 644,447 Other financial liabilities 181,197 186,754 Retirement benefit obligation 113,032 110,588 Provisions 386,795 393,427 Deferred tax liabilities 1,079,507 1,082,056 Other non-current liabilities 95,210 81,969 Total non-current liabilities 6,693,151 6,598,666 Total liabilities 13,901,121 13,085,000 Equity Common stock 213,825 213,825 Additional paid-in capital 209,276 210,068 Treasury stock (1,113,486) (112,240) Other components of equity Other investments designated as FVTOCI 720,517 664,554 Cash flow hedges 70,167 63,475 Exchange differences on translating foreign operations 2,386,228 2,503,299 Total other components of equity 3,176,912 3,231,328 Retained earnings 6,954,040 6,092,239 Equity attributable to owners of the Parent 9,440,567 9,635,220 Non-controlling interests 810,007 729,579 Total equity 10,250,574 10,364,799 Total 24,151,695 23,449,799
Page 10
9 (2) Condensed Consolidated Statement of Income for the three months ended June 30, 2025 and 2026 Millions of Yen Three months ended June 30, 2025 Three months ended June 30, 2026 Revenues 4,218,706 5,180,999 Cost of revenues (3,850,255) (4,683,841) Gross profit 368,451 497,158 Selling, general and administrative expenses (290,471) (346,838) Gains (losses) on investments 19,557 25,426 Gains (losses) on disposal and sale of property, plant and equipment and others (3,711) 5,813 Impairment losses and reversals on property, plant and equipment, intangible assets, goodwill and others (750) (100) Other income (expenses)-net 1,739 12,250 Finance income 60,145 94,950 Finance costs (40,755) (51,530) Share of profit (loss) of investments accounted for using the equity method 138,718 150,880 Profit (loss) before tax 252,923 388,009 Income taxes (32,294) (73,662) Profit (loss) for the period 220,629 314,347 Profit (loss) for the period attributable to: Owners of the Parent 203,121 298,524 Non-controlling interests 17,508 15,823 220,629 314,347 Profit (loss) for the period attributable to Owners of the Parent per share (in Yen) Basic 51.59 81.53 Diluted 51.34 81.08
Page 11
10 (3) Condensed Consolidated Statement of Comprehensive Income for the three months ended June 30, 2025 and 2026 Millions of Yen Three months ended June 30, 2025 Three months ended June 30, 2026 Profit (loss) for the period 220,629 314,347 Other comprehensive income (loss), net of tax Items that will not be reclassified to profit or loss for the period: Gains (losses) on other investments designated as FVTOCI 27,793 (12,531) Remeasurement of defined benefit pension plans 383 119 Share of other comprehensive income (loss) of investments accounted for using the equity method 2,546 2,778 Total 30,722 (9,634) Items that may be reclassified to profit or loss for the period: Cash flow hedges 5,803 726 Exchange differences on translating foreign operations (78,379) 118,225 Share of other comprehensive income (loss) of investments accounted for using the equity method (77,361) 21,650 Total (149,937) 140,601 Total other comprehensive income (loss) (119,215) 130,967 Total comprehensive income (loss) 101,414 445,314 Comprehensive income (loss) attributable to: Owners of the Parent 83,563 408,630 Non-controlling interests 17,851 36,684 101,414 445,314
Page 12
11 (4) Condensed Consolidated Statement of Changes in Equity for the three months ended June 30, 2025 and 2026 Millions of Yen Three months ended June 30, 2025 Three months ended June 30, 2026 Common stock: Balance at the beginning of the period 204,447 213,825 Balance at the end of the period 204,447 213,825 Additional paid-in capital: Balance at the beginning of the period 228,013 209,276 Compensation costs related to share-based payment 638 1,387 Sales of treasury stock upon exercise of share-based payment (340) (478) Equity transactions with non-controlling interests and others 1,760 (117) Balance at the end of the period 230,071 210,068 Treasury stock: Balance at the beginning of the period (99,055) (1,113,486) Sales of treasury stock upon exercise of share-based payment 2,375 3,208 Purchases and sales-net (350,020) (5) Cancellation － 998,043 Balance at the end of the period (446,700) (112,240) Other components of equity: Balance at the beginning of the period 2,397,781 3,176,912 Other comprehensive income (loss) attributable to owners of the Parent (119,558) 110,106 Transfer to retained earnings 142,513 (41,449) Transfer to non-financial assets or non-financial liabilities － (14,241) Balance at the end of the period 2,420,736 3,231,328 Retained earnings: Balance at the beginning of the period 6,637,528 6,954,040 Profit (loss) for the period attributable to owners of the Parent 203,121 298,524 Cash dividends paid to owners of the Parent (198,894) (201,386) Sales of treasury stock upon exercise of share-based payment (1,610) (2,345) Cancellation of treasury stock － (998,043) Transfer from other components of equity (142,513) 41,449 Balance at the end of the period 6,497,632 6,092,239 Equity attributable to owners of the Parent 8,906,186 9,635,220 Non-controlling interests: Balance at the beginning of the period 785,608 810,007 Cash dividends paid to non-controlling interests (25,041) (32,612) Equity transactions with non-controlling interests and others 4,295 (84,500) Profit (loss) for the period attributable to non-controlling interests 17,508 15,823 Other comprehensive income (loss) attributable to non-controlling interests 343 20,861 Balance at the end of the period 782,713 729,579 Total equity 9,688,899 10,364,799 Comprehensive income (loss) attributable to: Owners of the Parent 83,563 408,630 Non-controlling interests 17,851 36,684 Total comprehensive income (loss) 101,414 445,314
Page 13
12 (5) Condensed Consolidated Statement of Cash Flows for the three months ended June 30, 2025 and 2026 Millions of Yen Three months ended June 30, 2025 Three months ended June 30, 2026 Operating activities: Profit (loss) for the period 220,629 314,347 Adjustments to reconcile profit (loss) for the period to net cash provided by (used in) operating activities: Depreciation and amortization 92,350 110,139 (Gains) losses on investments (19,557) (25,426) (Gains) losses on property, plant and equipment, intangible assets, goodwill and others 4,461 (5,713) Finance (income) -net of finance costs (19,390) (43,420) Share of (profit) loss of investments accounted for using the equity method (138,718) (150,880) Income taxes 32,294 73,662 Changes in trade receivables 254,961 215,548 Changes in inventories 11,627 112,937 Changes in trade payables (227,072) (80,767) Changes in derivative related assets and liabilities (86,730) (154,077) Other-net (84,516) (41,097) Dividends received 151,756 182,700 Interest received 43,011 41,536 Interest paid (38,953) (43,402) Income taxes paid (87,969) (74,331) Net cash provided by (used in) operating activities 108,184 431,756
Page 14
13 Millions of Yen Three months ended June 30, 2025 Three months ended June 30, 2026 Investing activities: Payments for property, plant and equipment and others (78,542) (93,080) Proceeds from disposal of property, plant and equipment and others 39,620 45,596 Payments for investment property (33) (747) Proceeds from disposal of investment property 561 1,091 Purchases of investments accounted for using the equity method (50,561) (21,385) Proceeds from disposal of investments accounted for using the equity method 87,303 23,853 Acquisitions of businesses-net of cash acquired (902) 520 Proceeds from disposal of businesses-net of cash divested － (208,736) Purchases of other investments (192,437) (80,348) Proceeds from disposal of other investments 27,620 63,550 Increase in loans receivable (45,428) (2,621) Collection of loans receivable 31,705 67,841 Net (increase) decrease in time deposits (8,363) (42,019) Net cash provided by (used in) investing activities (189,457) (246,485) Financing activities: Net increase (decrease) in short-term debts 491,881 (147,291) Proceeds from long-term debts 245,228 175,415 Repayments of long-term debts (248,304) (85,322) Repayments of lease liabilities (29,282) (32,003) Dividends paid to owners of the Parent (198,894) (201,386) Dividends paid to non-controlling interests (25,041) (32,612) Payments for acquisition of subsidiary's interests from the non-controlling interests (311) (255) Proceeds from disposal of subsidiary's interests to the non-controlling interests 7,831 － Net (increase) decrease in treasury stock (350,020) (5) Net cash provided by (used in) financing activities (106,912) (323,459) Effect of exchange rate changes on cash and cash equivalents (3,627) 17,471 Net increase (decrease) in cash and cash equivalents (191,812) (120,717) Cash and cash equivalents at the beginning of the period 1,536,624 1,841,464 Cash and cash equivalents at the end of the period 1,344,812 1,720,747
Page 15
14 (6) Changes in Accounting Policies and Accounting Estimates The material accounting policies applied to the condensed consolidated financial statements for the three months ended June 2026 are identical to those for the previous fiscal year.
Page 16
15 (7) Segment Information The Company's segment information for the three months ended June 30, 2025 and 2026 was as follows: Millions of Yen 2025 Energy & Power Solution Materials Solution Mineral Resources Urban Development & Infrastructure Mobility Food Industry Revenues 994,699 871,625 793,123 201,007 196,473 545,836 Gross profit 62,841 51,265 44,812 42,098 41,043 68,254 Share of profit of investments accounted for using the equity method 41,777 7,322 11,584 34,410 11,520 4,270 Profit (loss) for the period attributable to owners of the Parent 39,331 11,870 24,994 35,829 26,477 20,986 Total assets (at March 31, 2026) 6,078,961 1,971,360 5,995,234 2,173,800 1,942,720 2,334,066 Profit (loss) for the period attributable to owners of the Parent reflecting the change in the internal interest allocation method 40,683 12,501 27,512 36,261 27,136 21,791 Millions of Yen Smart-Life Creation Total Other, Adjustments and Eliminations Consolidated Revenues 613,251 4,216,014 2,692 4,218,706 Gross profit 55,111 365,424 3,027 368,451 Share of profit of investments accounted for using the equity method 27,868 138,751 (33) 138,718 Profit (loss) for the period attributable to owners of the Parent 26,082 185,569 17,552 203,121 Total assets (at March 31, 2026) 2,745,464 23,241,605 910,090 24,151,695 Profit (loss) for the period attributable to owners of the Parent reflecting the change in the internal interest allocation method 27,816 193,700 9,421 203,121 Millions of Yen 2026 Energy & Power Solution Materials Solution Mineral Resources Urban Development & Infrastructure Mobility Food Industry Revenues 1,061,799 979,438 1,396,195 195,916 252,134 671,347 Gross profit 109,709 66,613 82,250 43,847 48,866 85,700 Share of profit of investments accounted for using the equity method 36,829 1,613 29,217 7,048 16,367 36,968 Profit (loss) for the period attributable to owners of the Parent 71,934 17,801 86,582 29,610 31,216 36,208 Total assets (at June 30, 2026) 5,893,370 1,999,076 5,809,631 1,686,131 1,935,976 2,375,775 Millions of Yen Smart-Life Creation Total Other, Adjustments and Eliminations Consolidated Revenues 621,641 5,178,470 2,529 5,180,999 Gross profit 56,716 493,701 3,457 497,158 Share of profit of investments accounted for using the equity method 22,838 150,880 － 150,880 Profit (loss) for the period attributable to owners of the Parent 20,481 293,832 4,692 298,524 Total assets (at June 30, 2026) 2,662,522 22,362,481 1,087,318 23,449,799
Page 17
16 Note: 1. "Other" in "Other, Adjustments and Eliminations" represents the corporate departments which primarily provide services and operational support to the Company and affiliated companies. "Other" also includes certain revenues and expenses from busines s activities related to financing and human resource services that are not allocated to reportable operating segments. Unallocated corporate assets categorized in "Other" consist primarily of cash, time deposits and securities for financial and investment activ ities. "Profit (loss) for the period attributable to owners of the Parent" under "Other" for the three months ended June 30, 2025 and 2026 were ¥16,964 million (¥8,833 million reflecting the change in the internal interest allocation method) and ¥4,900 million, respectively. "Adjustments and Eliminations" in "Other, Adjustments and Eliminations" includes certain income and expense items that are no t allocated to reportable operating segments and intersegment eliminations. 2. The Company has reorganized its operating segments into 7 groups from the beginning of the fiscal year ending March 31, 2027, and the Company's segment information for the three months ended June 30, 2025 has been reclassified and restated. 3. Effective from the fiscal year ending March 31, 2027, the Company has revised its internal interest allocation method. For comparative purposes, "Profit (loss) for the period attributable to owners of the Parent reflecting the change in the internal int erest allocation method" for the three months ended June 30, 2025 is also presented.
Page 18
17 (8) Notes Concerning Going Concern Assumption None