Slide 1: Results Briefing for the Year ended March 31, 2026
Results Briefing for the Year ended March 31, 2026 May 20, 2026 TODA CORPORATION 1
Slide 2: Disclaimer
This material contains forward-looking statements regarding TODA CORPORATION and the Group’s business plans, strategies, and earnings forecasts. These statements are TODA CORPORATION’s forecasts based on currently available information and may involve potential risks and uncertainties. The actual re
Slide 3: Today's Program
Today’s Program １．Results Briefing Group General Manager of Corporate Administration Group Toshihiro Yamazaki ２．Progress of the Management Plan President and Representative Director Seisuke Otani 3
Slide 4: Results Briefing
１．Results Briefing May 20, 2026 Group General Manager of Corporate Administration Group Toshihiro Yamazaki 4
Slide 5: FY2025 Financial Highlights (Consolidated)
FY2025 Financial Highlights (Consolidated) ◼ Net sales FY2024 FY2025 Change FY2026 (Billions of yen) (YoY) (Forecast) ¥645.7 billion (+10.1％ YoY) ︓ Due to progress in large-scale construction projects on hand in the architectural Net sales 586.6 645.7 10.1％ 753.0 construction business and an increas
Slide 6: [Consolidated] Results by Segment
[Consolidated] Results by Segment (Billions of yen) Domestic Domestic Overseas Architectural Civil Investment Environment Eliminations FY2025 Construction Engineering and Group Group and Energy Total Companies Companies Development Net sales 362.5 127.8 33.4 67.8 67.6 3.3 -17.0 645.7 Operating 26.9
Slide 7: Major Construction Orders Received
Major Construction Orders Received Ordering Parties Name of Project Architectural Meiji Seika Pharma Co., Ltd. Ashigara Dual-Use Project Construction Chuo City, Tokyo Reconstruction of Chuo City Nihonbashi Junior High School and Development of Chuo City Chiyoda Park (Architectural Work) LamMaster 2
Slide 8: Major Carryover Works
Major Carryover Works Ordering Parties Name of Project Architectural Toranomon 1-Chome East District Urban Redevelopment Association New Construction of Facility Buildings for Toranomon 1-Chome East District Type I Urban Redevelopment Project Construction Mita-Koyamacho West District Urban New Const
Slide 9: [Non-consolidated] Trend in Construction Work Backlog
[Non-consolidated] Trend in Construction Work Backlog (Billions of yen) ◼ Construction work backlog for the next fiscal year increased from the previous 1,073.3 fiscal year. 989.1 Overseas ◼ In the domestic architectural 3.5 818.9 1.1 construction business, backlog Civil increased by ¥53.9 billion f
Slide 10: Financial Results Review
Financial Results Review 10
Slide 11: [Consolidated] Overview of TODA Group
[Consolidated] Overview of TODA Group Domestic Investment and Development Domestic Subsidiaries Overseas Subsidiaries Environment and Energy Business Domestic Subsidiaries Overseas Subsidiaries 48 companies APEC Engineering Co., Ltd. PT Tatamulia Nusantara Indah Toda Road Co., Ltd. Thai Toda Corpora
Slide 12: [Consolidated] Balance Sheets - Assets
[Consolidated] Balance Sheets - Assets Assets ◼ Major factors behind changes (Billions of yen) Current Assets +20.9 +74.8 998.3 Cash and deposits -16.2 Short-term investment securities +13.6 923.5 Costs on uncompleted +10.3 construction contracts Real estate for sale +9.2 Current +20.9 Current Asset
Slide 13: [Consolidated] Balance Sheets - Liabilities and Net Assets
[Consolidated] Balance Sheets - Liabilities and Net Assets Liabilities and Net Assets ◼ Major factors behind changes (Billions of yen) Current liabilities +21.3 +74.8 998.3 Short-term loans payable Commercial paper -12.7 -5.0 923.5 Notes payable, accounts payable for construction contracts and other
Slide 14: [Consolidated] Trends in Cross-Shareholdings
[Consolidated] Trends in Cross-Shareholdings 1 51.3% Achieve a ratio of 55. 0% Three Fiscal Years from FY2025 to FY2027 46.0% 46.6% less than 20% Disposal Proceeds 50. 0% 1 of consolidated ¥50 billion or more (Three-year Cumulative) net assets by 45. 0% * Based on market prices FY2030 1 400 .0 120 .
Slide 15: [Consolidated] Trend in Interest-Bearing Debt
[Consolidated] Trend in Interest-Bearing Debt ◼ FY2025: (Billions of yen) Interest-bearing debt decreased by ¥25.9 billion, 255.4 245.0 reflecting decreases of ¥12.7 226.5 229.5 billion in short-term loans payable, ¥5.0 billion in commercial paper, and ¥10.1 Long- 174.7 term billion in bonds, despit
Slide 16: [Consolidated] Trend in Provision for Loss on Construction Contracts
[Consolidated]Trend in Provision for Loss on Construction Contracts ◼ Provision for loss on construction contracts -¥1.14 billion (YoY) -¥1.14 billion (Billions of yen) ◼ Major factors behind changes: 4.06 4.12 In both the domestic Civil 2.98 architectural construction Civil Engineering business and
Slide 17: [Consolidated] Cash Flows
[Consolidated] Cash Flows Change in Cash and Cash Equivalents (March 2025 → March 2026): -1.5 Operating CF +62.4 Investing CF -20.5 Financing CF -43.8 (Billions of yen) +11.8 +50.2 +11.9 -1.0 +13.8 -10.5 -7.1 -27.2 86.1 -26.4 +0.3 +0.3 84.6 -10.7 -7.0 Profit before Other Sale of Purchase Translation
Slide 18: Outlook
Outlook 18
Slide 19: [Consolidated] FY2026 Earnings Forecasts
[Consolidated] FY2026 Earnings Forecasts (Billions of yen) FY2026 FY2025 Forecast Change (YoY) Net sales 645.7 753.0 +16.6% +107.2 Operating income 38.2 39.0 +2.1％ +0.7 Ordinary income 43.9 40.0 -9.1％ -3.9 Profit attributable to owners of parent 36.9 35.0 -5.4％ -1.9 Orders received (non-consolidated
Slide 20: [Non-consolidated] FY2026 Earnings Forecasts
[Non-consolidated] FY2026 Earnings Forecasts Amount Margin (Billions of yen） (%) Net sales 607.0 Gross profit 72.2 11.9 Construction business profit 68.3 12.0 [Domestic architectural construction] 49.2 11.3 [Domestic civil engineering] 18.7 14.6 [Overseas] 0.4 8.2 Investment and development business
Slide 21: [Non-consolidated] Construction Business Forecasts
[Non-consolidated] Construction Business Forecasts Construction Orders Received Net Sales of Completed Gross Profit Margin Construction Contracts on Completed Construction Contracts (Billions of yen) (Billions of yen) (%) 680.0 700.0 567.0 700.0 Overseas Architectural 566.5 Construction 14.6 28.0 Ov
Slide 22: Progress of the Management Plan
2．Progress of the Management Plan May 20, 2026 President and Representative Director Seisuke Otani 22
Slide 23: Positioning of Medium-Term Management Plan 2027
Management Positioning of Medium-Term Management Plan 2027 Plan Identifying and leveraging our key strengths Future Vision CX150 and creating distinctive value Phase 1 Access to Value restructuring Realizing a society of sources of value collaborative creation Corporate Transformation toward TODA Gr
Slide 24: Financial Targets | Performance and financial KPIs
Management Financial Targets | Performance and financial KPIs Plan Driving revenue growth and enhancing capital efficiency by optimizing management resources Growth potential Profitability Capital efficiency Fiscal year ending Fiscal year ending Fiscal year ending March 2028 March 2028 March 2028 Op
Slide 25: Financial Targets | Actual Results and Forecasts
Financial Targets | Actual Results and Forecasts Progress FY2024 FY2025 FY2026 FY2027 Performance Medium-Term / financial indicators Results Results Forecasts Management Plan Targets Net sales 586.6 645.7 753.0 Approx. ¥800.0 billion Profitability Operating profit 26.6 38.2 39.0 ¥43.5 billion or mor
Slide 26: Segment Performance | Results and Forecasts
Segment Performance | Results and Forecasts Progress FY2024 FY2025 FY2026 FY2027 Business (Segment) Forecasts Medium-Term Results Results Management Plan Targets ( ) Profit Margin ( ) Profit Margin Architectural Construction 358.2 362.5 440.0 ¥430.0 billion Civil Engineering 127.1 127.8 132.0 ¥150.0
Slide 27: Business Strategy Roadmap (through 2031)
Business Strategy Roadmap (through 2031) Progress Phase 1 Phase 3 Future Vision Sources of value Phase 2 Value restructuring Realizing a society of collaborative creation CX150 2022-2024 2025 2026 2027 2028-2030 2031 150th Core businesses Maximizing customer value at the frontline (sales and worksit
Slide 28: Initiatives in Core Businesses
Initiatives in Core Businesses 28
Slide 29: Market Environment | Construction Investment
Management Market Environment | Construction Investment Environment Real construction investment remains broadly flat, while major contractors’ share of construction orders continues to rise Construction Investment Construction Order Share (Nominal / Real) of JFCC Member Companies (Construction orde
Slide 30: Market Environment | Construction Costs / Labor Rates
Management Market Environment | Construction Costs / Labor Rates Environment Supply constraints are intensifying due to rising construction costs and labor shortages. Construction Materials Price Index Public Works Design Labor Unit Prices 160 40,000 (Nationwide average across all occupations) 170.0
Slide 31: Carryover Works (Architectural Construction)
Carryover Works (Architectural Construction) Construction Unit: %; figures in [ ] indicate contract value. FY2024 FY2025 Accommodations Stores 1.6 1.5 Accommodations Warehouses and distribution Others 1.3 Stores 1.3 0.6 facilities 5.2 Warehouses and Others 3.6 Medical and welfare distribution facili
Slide 32: Carryover Works (Civil Engineering)
Carryover Works (Civil Engineering) Construction Unit: %; figures in [ ] indicate contract value. FY2024 FY2025 Tunnels Tunnels 27.6 24.5 Others 12.5 ［¥89.8 billion］ Erosion and flood ［¥86.8 billion］ Others 12.5 control 2.6 Roads Erosion and flood 36.2 control 2.1 Land development 5.1 ［¥117.9 billio
Slide 33: Strengthening Construction Execution Systems
Architectural Strengthening Construction Execution Systems Construction Expanding construction capacity through strategic resource allocation Strengthening Construction Execution Systems Status of frontline workforce secured (FY2025) Expanding the construction workforce base ＋244 construction capaci
Slide 34: Priority Initiatives for Sustainable Growth
Priority Priority Initiatives for Sustainable Growth Initiatives Promoting initiatives for new value creation based on strategic order-taking and higher productivity Our Strategic Direction (Priority Current Assessment Initiatives) • Domestic construction investment remains broadly flat • Thorough s
Slide 35: Status of Cash Allocation and Investment Plan
Status of Cash Allocation and Investment Plan 35
Slide 36: Cash Allocation (Cumulative, 3 Years)
Investment Cash Allocation (Cumulative, 3 Years) Plan Promote growth investments leveraging cash generated through earnings growth and asset sales M&A investments: Cash Allocation Implemented separately from the investment plan Investment Progress (Cumulative) Cash Generation Cash Allocation Excludi
Slide 37: Progress of the Investment Plan
Investment Progress of the Investment Plan Progress Executing proactive growth investments to achieve sustainable earnings growth Medium-Term FY2025 FY2026 Investment Plan Actual Plan Management Plan 2027 FY2025-FY2027 cumulative Total (excluding M&A) ¥58.4 billion ¥77.3 billion ¥200.0 billion (Net
Slide 38: Expansion of Technology Development Investment
Investment Expansion of Technology Development Investment Progress Accelerating technology development to create distinctive value Key Technology Developments (Examples of initiatives) Investment Amount by Fiscal Year （Billions of yen） Office Buildings Mountain Tunnels ◼ Achieving high seismic ◼ Cre
Slide 39: Human Capital & Organizational Strength
Investment Human Capital & Organizational Strength Progress Transforming into an AI-Native Company through strengthening governance, human capital, and business foundations <Three Priority Initiatives> ① AI Governance • Establishment of basic AI policies Added Value 1.Improved delivery quality • Min
Slide 40: Real Estate Development
Investment Real Estate Development Progress Promoting a “Circular Investment Model” through a balanced approach to investment and asset sales Investment and Sale Amounts Major Investment and Sale Results in FY2025 by Fiscal Year Domestic Investment (Investment) Domestic Investment (Sale) (Billions o
Slide 41: TODA Private REIT Investment Corporation (Private REIT)
Investment TODA Private REIT Investment Corporation (Private REIT) Progress Building a high-quality asset portfolio through property acquisitions in line with the portfolio policy Portfolio Policy (by Asset Type / Area) Actual and Plan Assets Under Management Hotel Others By Asset Type 20% Office 15
Slide 42: Environment and Energy
Investment Environment and Energy Progress Promoting initiatives toward the realization and monetization of large-scale wind farms from 2030 onward Investment and Recovery Amounts Major Achievements in FY2025 by Fiscal Year (Billions of yen) FY2025 FY2026 (Actual) (Plan) Net Investment 6.6 Net Inves
Slide 43: Strategic M&A Investments
Investment Strategic M&A Investments Progress Establishing a competitive advantage in the medium to long-term by creating new customer value ● Major M&A Results Capturing overseas growth potential Future M&A Policy ー Creating New Customer Value ー New Areas Expansion into (Overseas Investment & Devel
Slide 44: Priority Management Business Initiatives
Priority Management Business Initiatives 44
Slide 45: Value Creation Model
Priority Management Value Creation Model Businesses Creating distinctive value and achieving sustainable earnings growth through synergies between the Construction Business and Strategic Businesses Technology Development Construction Capability Engineering Expertise and Know-How from the Constructio
Slide 46: SECC Business (Phase 1)
SECC Business (Phase 1) SECC：Smart Energy Complex City SECC Business Creating new value through regional revitalization based on collaboration and coordination with local communities Local Energy for the Future The SECC business is a business that “discovers, nurtures, and expands” local energy (val
Slide 47: Offshore Wind Power Business: Global Environment Award
Environment Offshore Wind Power Business and Energy Accumulating and leveraging operational data Business from Japan’s first floating offshore wind farm Know-How The 34 th Global Environment Award Since 1992 Seven Evaluation Criteria for the Commencement Ceremony Global Environment Award Balance bet
Slide 48: Offshore Wind Power Business
Environment Offshore Wind Power Business and Energy Advancing technology development and construction capabilities to secure offshore wind CI contracts Toward securing CI Technology Construction (construction and Development Capability installation) contracts Participation in offshore wind power pro
Slide 49: Offshore Wind Power Business: Earnings Growth from 2035
Environment Offshore Wind Power Business and Energy Significant earnings growth from 2035 onward driven by three business foundations Net sales on the scale of Business ¥100.0 billion Know-How EPCI事業 Toward medium- to long-term （スパー大型化） earnings expansion CI事業 （建造・据付） Technology EPCI Business (large
Slide 50: Overseas Business
Overseas Overseas Business Business Expanding business primarily in Asia, Oceania, and North America while taking geopolitical risks into account ◼ Securing and developing global talent (management talent and specialized talent) Global Growth ◼ Enhancing governance tailored to regional characteristi
Slide 51: Overseas Construction
Overseas Overseas Construction Business Enhancing customer value and achieving sustainable earnings growth in Southeast Asia ◼ First overseas group company to ◼ Achieving earnings growth at TATA in Indonesia achieve 100% renewable electricity • Strategic order acquisition in growth areas (Batam and
Slide 52: Overseas Investment and Development Initiatives
Overseas Overseas Investment and Development Initiatives Business Existing hotel operations are performing steadily, further strengthening the Kamana brand In Operation Kamana Lakehouse Under Construction Noctis by Kamana • Maximizing revenue through strategic pricing aligned • As a new Kamana brand
Slide 53: Sustainability Initiatives
Sustainability Initiatives 53
Slide 54: Non-Financial Targets
Non-Financial Targets Sustainability FY2025 Medium-Term FY2026 Non-Financial Target Objective Results / Target Management Plan Target (2027) Forecast CO Emissions Continuously reduce CO2 emissions from 37.6% At least 25.2% At least 29.4% E (Scope 2 1 + 2) Total emissions (%) vs. FY2020 *1 business a
Slide 55: External Recognition
External Recognition Sustainability Advancing industry-leading sustainability management Ministry of the Environment, CDP 2025 7th ESG Finance Awards Japan: LGBTQ+ Evaluation Index “Environmental Sustainable Climate Change Survey: “PRIDE Index 2025” Highest rating, “A List” Company” • Selected for f
Slide 56: Shaping the Future through Distinctive Value X
Shaping the Future through Distinctive Value Identify Connect Creating Our key strengths X Combine vertical distinctive and horizontal value expansion 56
Slide 57: TODA CORPORATION
oO nZ0” TODA ==::= CORPORATION rr Build the Culture. Creation from ideas, rooted in passion