| Schedule I Condensed Financial Information |
Schedule I—Condensed Financial InformationIn accordance with Rule 5-04 of Regulation S-X, management concluded that the Group is required to present Condensed Financial Information as of March 31, 2025 and 2026, and for each of the three years ended March 31, 2026. Management calculated the restricted net assets, as defined in Rule 1-02(dd) of Regulation S-X, for each consolidated subsidiary. As of March 31, 2026, the restricted net assets of PayPay Card Corporation and PayPay Bank Corporation were 724,001 million yen and 41,071 million yen, respectively. In the aggregate, these restricted net assets exceeded 25% of the Group's consolidated net assets of 430,761 million yen.PayPay Corporation Condensed Statements of Financial Position
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(In millions of yen) |
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March 31, 2025 |
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March 31, 2026 |
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Assets |
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Cash and cash equivalents |
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133,350 |
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308,218 |
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Guarantee deposits |
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590,878 |
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624,995 |
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Accounts receivable |
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472,813 |
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579,421 |
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Loans and advances to customers |
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51 |
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50 |
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Securities |
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35,953 |
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65,612 |
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Other financial assets |
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11,264 |
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15,271 |
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Property and equipment |
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1,666 |
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1,814 |
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Right-of-use assets |
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2,959 |
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4,366 |
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Intangible assets |
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18,958 |
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20,883 |
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Investments in subsidiaries and associates |
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115,165 |
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257,536 |
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Deferred tax assets |
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12,737 |
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70,273 |
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Other assets |
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5,126 |
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5,036 |
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Total assets |
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1,400,920 |
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1,953,475 |
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Liabilities |
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Deposits |
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391,595 |
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451,263 |
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Accounts payable |
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842,956 |
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1,008,463 |
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Income tax payables |
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2,995 |
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4,872 |
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Other financial liabilities |
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21,099 |
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32,485 |
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Provisions |
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745 |
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1,466 |
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Lease liabilities |
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6,744 |
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6,166 |
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Other liabilities |
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14,523 |
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15,371 |
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Total liabilities |
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1,280,657 |
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1,520,086 |
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Shareholders’ equity |
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Issued capital |
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91,434 |
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200,635 |
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Share premium |
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968 |
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110,799 |
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Retained earnings |
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27,861 |
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121,955 |
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Total shareholders’ equity |
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120,263 |
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433,389 |
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Total liabilities and shareholders’ equity |
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1,400,920 |
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1,953,475 |
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Condensed Statements of Profit or Loss
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(In millions of yen) |
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For the year ended |
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March 31, 2024 |
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March 31, 2025 |
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March 31, 2026 |
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Transaction and service income |
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167,871 |
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217,432 |
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273,939 |
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Interest income |
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36 |
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325 |
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1,783 |
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Gains (losses) on financial instruments |
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(59 |
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105 |
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882 |
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Other operating income |
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1,740 |
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1,439 |
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2,562 |
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Total revenue |
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169,588 |
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219,301 |
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279,166 |
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Point expenses |
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(65,078 |
) |
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(86,424 |
) |
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(110,416 |
) |
Settlement related cost |
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(41,872 |
) |
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(46,894 |
) |
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(52,816 |
) |
Employee benefit expenses |
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(21,853 |
) |
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(20,972 |
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(23,673 |
) |
Professional and outsourcing services expenses |
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(15,480 |
) |
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(12,757 |
) |
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(14,081 |
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Provision for loss allowance |
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(536 |
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93 |
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67 |
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Other operating expenses |
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(30,416 |
) |
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(30,899 |
) |
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(34,890 |
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Total operating expenses |
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(175,235 |
) |
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(197,853 |
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(235,809 |
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Operating profit (loss) |
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(5,647 |
) |
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21,448 |
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43,357 |
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Profit (loss) before tax |
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(5,647 |
) |
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21,448 |
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43,357 |
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Income tax (expense) benefit |
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2,506 |
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9,651 |
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50,710 |
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Profit (loss) for the year |
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(3,141 |
) |
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31,099 |
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94,067 |
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Condensed Statements of Cash Flows
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(In millions of yen) |
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For the year ended |
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March 31, 2024 |
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March 31, 2025 |
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March 31, 2026 |
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Net cash provided by (used in) operating activities |
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(254,620 |
) |
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(133,687 |
) |
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140,554 |
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Cash flows from (used in) investing activities |
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Purchases of securities |
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(14,394 |
) |
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(21,555 |
) |
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(43,943 |
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Proceeds from sales/redemption of securities |
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— |
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— |
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14,400 |
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Purchases of intangible assets |
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(9,235 |
) |
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(8,360 |
) |
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(8,101 |
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Purchases of shares of subsidiaries and associates |
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(6,596 |
) |
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(8,543 |
) |
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(11,655 |
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Payments into term deposits |
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(1,740 |
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(1,861 |
) |
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— |
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Others |
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(588 |
) |
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(3,641 |
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(2,181 |
) |
Net cash used in investing activities |
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(32,553 |
) |
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(43,960 |
) |
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(51,480 |
) |
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Cash flows from (used in) financing activities |
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Repayments of lease liabilities |
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(714 |
) |
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(1,075 |
) |
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(1,531 |
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Proceeds from issuance of new shares |
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― |
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― |
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217,522 |
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Payment for the purchase of the equity interest of subsidiaries, through transactions under common control |
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― |
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― |
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(130,185 |
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Net cash provided by (used in) financing activities |
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(714 |
) |
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(1,075 |
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85,806 |
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Effect of exchange rate changes on cash and cash equivalents |
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— |
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— |
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(12 |
) |
Increase (decrease) in cash and cash equivalents |
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(287,887 |
) |
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(178,722 |
) |
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174,868 |
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Cash and cash equivalents at the beginning of the year |
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599,959 |
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312,072 |
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133,350 |
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Cash and cash equivalents at the end of the year |
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312,072 |
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133,350 |
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308,218 |
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Note to Condensed Financial Statements - Basis of presentation The condensed financial statements have been prepared on a going concern basis in accordance with IFRS Accounting Standards issued by the IASB. The Company's condensed financial information includes inter-company revenue or expenses, which is eliminated in the Group's Consolidated Statements of Profit or Loss. The Company's condensed financial information should be read in conjunction with the Group's consolidated financial statements.
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