Slide 1: Financial Results for FY Ended March 31, 2026 and Third Medium-Term Plan
TOMOKU Co., Ltd. Financial Results Briefing Materials for the Fiscal Year Ended March 31, 2026 and Presentation for the Third Medium-Term Business Plan May 28, 2026 TSE Prime 3 9 4 6
Slide 2: Contents
Contents 1. Financial Results for the Fiscal Year Ended March 31, 2026 2. Earnings Forecast for the Fiscal Year Ending March 31, 2027 3. Third Medium-Term Business Plan (1) Review of the Second Medium-Term Business Plan (2) Basic Policy and Numerical Targets (3) Strategies by Business 4. Engaging in
Slide 3: Financial Results for the Fiscal Year Ended March 31, 2026
Innovations in packaging. Financial Results for the Fiscal Year Ended March 31, 2026 © TOMOKU CO.,LTD. 3
Slide 4: FY3/2026 Financial Highlights: Higher Sales and Profit, Record Profits
FY3/2026 Financial Highlights: Higher Sales and Profit, as Profits Hit Record High Net sales: 224,090 million yen (+2.0% YoY); operating profit 11,370 million yen (+21.6% YoY); ordinary profit 11,440 million yen (+21.7% YoY) Operating profit margin improved significantly to 5.1% (vs. 4.3% in the pre
Slide 5: FY3/2026 Financial Results Summary
FY3/2026 Financial Results Summary: Operating Profit +3.4% vs Plan With Improved Corrugated Container and Display Carton Profitability Net sales: Sales fell short of initial plan, even while sales increased in the Corrugated Container and Display Carton segment and the Transportation and Logistics s
Slide 6: FY3/2026 Segment Performance
FY3/2026 Segment Performance Housing: Higher sales, as price revisions and stronger renovation performance compensated for lower sales due to the decrease in the number of houses sold Transportation and Logistics: Sales and profit higher due to the impact of price revisions and increased volume (Mil
Slide 7: Operating Profit Change Factor Analysis (YoY)
Operating Profit Change Factor Analysis (YoY) Mainstay Corrugated Container and Display Carton segment saw price revisions in Japan covering for the decline in sales volume and increases in personnel expenses and other costs. Housing and Transportation and Logistics both swung to net profit. Corruga
Slide 8: Balance Sheets
Balance Sheets Inventories increased in the Housing segment. Shift to short-term debt in a rising interest rate environment. The D/E ratio also declined to 0.68. (Millions of yen) Assets FY3/2025 FY3/2026 Change Current assets 89,483 96,451 +6,968 Cash and deposits 21,002 23,959 +2,957 Inventories (
Slide 9: Cash Flows
Cash Flows Free cash flow decreased due to an increase in inventories and the purchase of shares of subsidiaries in connection with M&A (Millions of yen) FY3/2025 FY3/2026 Remarks Cash and cash equivalents, beginning of period 17,992 20,869 CF from operating activities 18,142 15,172 Increase in inve
Slide 10: Earnings Forecast for the Fiscal Year Ending March 31, 2027
Innovations in packaging. Earnings Forecast for the Fiscal Year Ending March 31, 2027 © TOMOKU CO.,LTD. 10
Slide 11: Current Business Environment, Future Outlook
Current Business Environment, Future Outlook: Concerns About Sluggish Personal Consumption due to the Ongoing Weak Yen and High Prices FY3/2026 FY3/2027 (Results) (Forecast) (Japan) ・Increase in sales and profit due to the (Japan) ・Continue price revisions impact of price revisions ・Continue sales a
Slide 12: FY3/2027 Forecast: Lower Sales, Double-Digit Operating Profit Growth
FY3/2027 Forecast: Expecting Lower Sales, but Double-Digit Operating Profit Growth Due to Strengthened Profitability Net sales 220,500 million yen (-1.6%); operating profit 12,700 million yen (+11.6%) ROE 7.7% (+0.1ppt). We expect to post record-high profit through price revisions in Corrugated Cont
Slide 13: FY3/2027 Forecast by Segment
FY3/2027 Forecast by Segment Corrugated Container and Display Carton, Housing: Expecting higher sales and profit with continued price revisions Transportation and Logistics: Expecting sales to decline due to the sale of shares of subsidiaries; however, earnings should improve due to ongoing talks to
Slide 14: Shareholder Returns: Progressive Dividend Increases
Shareholder Returns: FY3/2027 (Plan) Annual Dividend of 170 Yen per Share (+40 Yen YoY) Dividends will be based on progressive increases in line with medium- and long-term profit growth; share buybacks to be conducted opportunistically *FY3/2026: Payout ratio 29.1%, annual dividend 130 yen (interim
Slide 15: Third Medium-Term Business Plan - Review of the Second Plan
Innovations in packaging. Third Medium-Term Business Plan - (1) Review of the Second Medium-Term Business Plan - © TOMOKU CO.,LTD. 15
Slide 16: Purpose, Mission, and Vision: Developing a Business Centered on Packaging
Purpose, Mission, and Vision: Developing a Business Centered on Packaging Purpose Long-Term Management Targets Contribute to the Sustainable Growth of Society (FY3/2035) Through Packaging and Packaging Innovations Net Sales 300 billion yen ROE 10% Enhance corporate value and improve the environment
Slide 17: Our Strength: Walking an Independent Path
Our Strength: Walking an Independent Path Tomoku Brand 3. High-speed processing and 1. Ability to optimize procurement 2. Ability to supply diverse, high supply of high-quality corrugated of raw materials and resources value-added products containers and display cartons ・Delivery of high value-added
Slide 18: Total Package for Beverage Brand Owners
Total Package for Beverage Brand Owners Display Carton Container and Center Transportation Corrugated Transportation Branch Dealers Transportation Storage Center Filling Transportation Transportation Transportation Container Empty Transportation Transportation Retail © TOMOKU CO.,LTD. 18
Slide 19: Capital Investment under the Second Medium-Term Plan
Second Medium-Term Business Plan Investments (as of March 2026) We invested a total of 42,500 million yen (38,400 million yen in accumulated capital investment + 4,100 million yen in M&A), mainly in the Corrugated Container and Display Carton segment Corrugated Container and Transportation and Housi
Slide 20: Issues Emerging During the Second Medium-Term Business Plan
Issues Emerging During the Second Medium-Term Business Plan Although sales and profits increased, we must address other issues to improve profitability (ROE decreased). (Millions of yen) First Medium-Term Second Medium-Term Business Plan Business Plan (FY3/2023 - FY3/2026) FY3/2022 FY3/2026 (Final Y
Slide 21: Third Medium-Term Business Plan - Basic Policy and Numerical Targets
Innovations in packaging. Third Medium-Term Business Plan - (2) Basic Policy and Numerical Targets - © TOMOKU CO.,LTD. 21
Slide 22: Third Medium-Term Business Plan: Strengthening Profitability
Third Medium-Term Business Plan (FY3/2027 - FY3/2029) Main Theme: Strengthening Profitability - Creating Value 2026-2028 ・Shift from stable growth-oriented management centered on packaging to a stage emphasizing quality, while maintaining a balance among the three businesses: Corrugated Container an
Slide 23: Numerical Target: Aim for ROE of 10% in FY3/2035
Numerical Target: Aim for ROE of 10% in FY3/2035 FY3/2029 (final year of medium-term plan): Net sales 240,000 million yen, operating profit margin 6.0%, ROE 8.0% FY3/2035 (long-term target): Net sales 300,000 million yen, ROE 10.0% Second Medium-Term Business Plan Third Medium-Term Business Plan (Mi
Slide 24: Cash Allocation (FY3/2027 - FY3/2029)
Cash Allocation (FY3/2027 - FY3/2029, 3-Yr Cumulative) We forecast that we will cover around 43,000 million yen of capital investment and M&A using cash flows from operations Shareholder returns of 15,000 million yen (target payout ratio of at least 40%) (Cash-In) (Cash-Out) Corrugated Container and
Slide 25: Third Medium-Term Business Plan - Strategies by Segment
Innovations in packaging. Third Medium-Term Business Plan - (3) Strategies by Segment - © TOMOKU CO.,LTD. 25
Slide 26: Corrugated Container and Display Carton Strategy
Corrugated Container and Display Carton Strategy Basic Policy: Shift to high value-added products, reduce costs through productivity improvements, and stabilize earnings by leveraging containerboard procurement capabilities One Option: Collaborate With Other Companies (See Next Page) Net Sales and S
Slide 27: Collaborations for Containerboard and Processing
Signed Memorandum of Understanding With Other Companies in the Corrugated Container and Display Carton Segment to Consider Future Collaborations ・Signed memorandum of understanding with Nippon Paper Industries Co., Ltd. and Tokushu Tokai Paper Co., Ltd. to consider future collaborations (April 7, 20
Slide 28: Collaboration Framework and Targets
Collaboration Framework and Targets ・Leverage mutual knowledge, expertise, and resources related to the manufacture and sale of corrugated cardboard and containerboard ・Have the Cooperation Promotion Committee explore the potential for collaborations in environmentally friendly marketing, product de
Slide 29: Housing Strategy
Housing Strategy Implement through subsidiaries Sweden House and Tamazen: Strengthen sales strategy with clear targets established for buyers with high quality housing needs Sweden House Targeting by Subject ・Affluent: High unit price (Luxury) Both companies have high ・Young people: Concept type cus
Slide 30: Transportation and Logistics Strategy
Transportation and Logistics Strategy: Respond accurately to increasing domestic logistics demand as a complementary business to Corrugated Container and Display Carton Developed through subsidiary Tohun. Take advantage of the tailwind provided by increasing demand for logistics in Japan and the Ame
Slide 31: Expand Network Through M&A
Expand Network Through M&A: Develop Network-Based Business by Acquiring Shares in Regional Logistics Companies Pursue logistics companies M&A through subsidiary Tohun to acquire new bases nationwide. Use acquisitions as new bases and relay bases to create a nationwide, web-like logistics network. Re
Slide 32: Management Conscious of the Cost of Capital and Share Price (Update)
Innovations in packaging. Engaging in Management That is Conscious of the Cost of Capital and Share Price (Update) © TOMOKU CO.,LTD. 32
Slide 33: Current Status: PBR, ROE, PER Changes Over Time
Current Status: PBR, ROE, PER Changes Over Time While on an upward trajectory, PBR ratio remains below 1x leading to challenges in embedding the company growth strategy See next page for a comparison with PBR ROE cost of capital Special demand due to increased remote work during COVID-19 8.5% 8.2% P
Slide 34: Current Status: ROE vs. Cost of Equity
Current Status: ROE vs. Cost of Equity ROE is generally above the estimates calculated by CAPM, but has not reached the level of cost of equity required of the Company as we understood based on dialogue with investors and shareholders ROE and Cost of Capital (Concept) Cost of Capital Calculation Met
Slide 35: Progress and Efforts to Improve PBR
Progress and Efforts to Improve PBR Share price valuation is improving Actual PBR is 0.65x; expecting PER of 8.15x (as of May 25, 2026) We will continue addressing the issue of PBR below 1x by improving ROE and PER. Specific Measures ●Improve profit margin through price optimization ●Reduce indirect
Slide 36: Dialogue With Shareholders and Investors (FY3/2026)
Dialogue With Shareholders and Investors (FY3/2026) Conduct dialogue with shareholders and investors, mainly through financial results briefings and individual meetings Dialogue/Interviews Shareholder/Investor Attributes FY3/2026 Dialogues and Interviews: Voting Rights Representative Overseas 3% 58
Slide 37: Reference: ESG Initiatives, Company Overview, History
Reference (1) ESG Initiatives (2) Company Overview, History, Etc. © TOMOKU CO.,LTD. 37
Slide 38: ESG Initiatives in the Medium-Term Business Plan
ESG Initiatives in the Medium-Term Business Plan Third Medium-Term Business Plan Next Medium-Term Business Plan Targets/FY 2025 2026 2027 2028 2029 2030 2031 2035 - Review Materiality ・Identification process ・Establish KPIs Decarbonization Transition Plan + Final Target in 2050 Carbon neutrality Wat
Slide 39: Tomoku Group Management Philosophy and Sustainability Framework
Tomoku Group Management Philosophy and Sustainability Framework Group Management Philosophy and Policy Structure Environmental Health and Policy Safety Policy Enveloping Quality, Value, and Life Procurement Sustainable Procurement Guidelines CSR Human Sustainable Wood and Paper High Moral Policy Rig
Slide 40: Key Non-Financial KPIs
Key Non-Financial KPIs Prevent Global Warming Greenhouse gas reduction 50% (2030) Sustainable raw materials 100% (2030) Conserve Biodiversity Respect Human Rights Human rights training 100% of Group employees Implement human rights due diligence 100% of Group companies Supply Chain* Conduct supply c
Slide 41: Company Overview
Company Overview Tomoku consists of the Corrugated Container and Display Carton segment, the Housing segment (Sweden House, Tamazen, etc.), and the Transportation and Logistics segment Company Name TOMOKU CO., LTD. Business Lines Corrugated container and display carton, housing, transportation and l
Slide 42: Group Company History: Chronology
Group Company History: Chronology *Corrugated Container and Display Carton Segment Absorption-type merger Toyo Seikan Co., Ltd. with Hokkai Canning and Split off the Otaru Plant under the Act for Changed Drying Co., Ltd. Elimination of Excessive Concentration of Established in 1917 1941 Economic Pow
Slide 43: Group Company History (1): Corrugated Container and Display Carton Segment
Group Company History (1): Corrugated Container and Display Carton Segment Tomoku 1940 Established as Hokkai Canning and Drying Co., Ltd. 1945 Changed corporate name to Hokkai Wood Products Co., Ltd. and merged with Sugawara Wood Works Co., Ltd. the following year 1949 Acquired Toa Enterprise Co., L
Slide 44: Group Company History (2): Swedish House, Keystone of Housing Segment
Group Company History (2): Swedish House, the Keystone of the Housing Segment Swedish House produced wooden boxes and military supplies before World War II. After the war and through the Korean War, it continued both businesses and also manufactured prefabricated housing for coal mines. We took over
Slide 45: Group Company History (3): Transportation and Logistics Segment
Group Company History (3): Transportation and Logistics Segment Tohun 1954 The former Toyo Wood Products Co., Ltd. (now Tomoku) takes over the transportation business of Hokkai Canning and Drying Co., Ltd., establishing the Transportation segment Canned crab, salmon, and other canned products were g
Slide 46: Unique, Hybrid Entity of Three Businesses
Unique, Hybrid Entity Consisting of Corrugated Container and Display Carton, Housing, and Transportation and Logistics Companies Every business today began with our former iteration as Toyo Wood Products Co., Ltd., which manufactured and sold wooden boxes for canned food packaging Founded in 1949 as
Slide 47: Group Characteristics, Strengths, and Advantages
Group Characteristics, Strengths, and Advantages Leading Corrugated Container and Display Carton Processing Specialist (Net Sales Basis) Distinct position as a corrugated container and display carton processing specialist. Our Transportation and Logistics segment, carrying food and beverages packed
Slide 48: Corrugated Container and Display Carton Industry Supply Chain
Our Position in the Corrugated Container and Display Carton Industry: Processing, Manufacturing, and Distributing Corrugated Cardboard Using Procured Containerboard Corrugated Container and Display Carton Industry Supply Chain Raw Material Processing and Raw Material Procurement Distribution Product
Slide 49: Stock Trends: Comparison With TOPIX
Stock Trends: Comparison With TOPIX (Relative Share Price, 2020 - ) Steady increase in the number No. of Shareholders of shareholders after the 250 COVID-19 pandemic 8,927 (%) 5,948 6,285 230 5,602 4,718 TOPIX 210 190 FY3/2022 FY3/2026 170 Tomoku 150 Stagnation due to COVID-19 130 January 6, 2020＝10
Slide 50: Disclaimer
Disclaimer These materials include forward-looking statements of prospects based on current plans, assumptions, estimates, and projections regarding business and industry trends. These forward-looking statements are subject to various risks and uncertainties. Known risks, unknown risks, uncertaintie