Slide 1: Earnings Briefing Materials for the Fiscal Year Ended December 2025
Earnings Briefing Materials for the Fiscal Year Ended December 2025 February 13, 2026
Slide 2: Executive Summary
Executive Summary Sales: ¥179.18 B (vs. forecast: +2.4%; +¥4.18 B) Operating Income: ¥8.08 B (vs. forecast: +24.4%; +¥1.58 B) • Insecticides & Repellents: Growth driven by new product releases & price revisions. • Homecare products: Slight sales increase. Improved profitability in bath salts & oral
Slide 3: FY 12/2025 – Financial Result Highlights
FY 12/2025 – Financial Result Highlights
Slide 4: Financial Result Highlights
Financial Result Highlights (Unit: 0.1 B JPY) ◼ Increase in sales & profit; Results in line with raised guidance. ◼ Achieved the plan by ① meeting sales targets and ② improving GPM performance vs. the forecast. ◼ Sales were driven by benefits from price revisions for Insecticides & Repellents and gr
Slide 5: Management Accounting Basis: Sales / GPM (24 vs 25)
Management Accounting Basis: Sales / GPM (24 vs 25) ◼ Domestic - Insecticides & Repellents: Growth driven by higher sales & price revisions, leading to improved profitability. ◼ Domestic - Homecare Products: Sales increase centered around bath salts & oral hygiene products and profitability improvem
Slide 6: Target Business Portfolio
Target Business Portfolio ◼ Leverage the 4 pillars of our operations in Japan, Overseas, the General Environment and Sanitation Business, and MA-T to grow profits. General Environment and Japan Overseas MA-T Sanitation Minimize seasonality Overseas business as a Develop a new business effects to sec
Slide 7: Domestic: Insecticides & Repellents Status Update
Domestic: Insecticides & Repellents Status Update (Unit: 0.1 B JPY) ◼ Domestic market for Insecticides & Repellents grew to 101.4% of the prior year’s levels. ◼ The expansion of our lineup of high value-add products and the benefits of price revisions are gradually starting to appear. ◼ Earth’s shar
Slide 8: Domestic: Insecticides & Repellents Status Update (Product Returns)
Domestic: Insecticides & Repellents Status Update (Product Returns) (Unit: 0.1 B JPY) ◼ Product returns reached a historical best of 4.6% on a value-basis, with the absolute amounts also hitting a record low. ◼ The baseline strategy has now shifted to maintaining current low return levels while bala
Slide 9: Domestic: Homecare Products Status Update (Oral Hygiene)
Domestic: Homecare Products Status Update (Oral Hygiene) (Unit: 0.1 B JPY) ◼ Fundamental refresh of the MONDAMIN mouthwash series resulted in strong shipments. ◼ Proactive advertising spend drove a successful post-launch phase, with market share rising. ◼ Continued committed to our 20% share target
Slide 10: Domestic: Homecare Products Status Update (Bath Salts)
Domestic: Homecare Products Status Update (Bath Salts) (Unit: 0.1 B JPY) ◼ While different product formats showed varied results, the overall bath salts market maintained a growth trajectory, delivering YoY growth. ◼ Powder-type offerings, such as Bath Roman and BATHCLIN, saw a YoY decline in sales.
Slide 11: Overseas: Status Update (ASEAN Core)
In local-currency terms Overseas: Status Update (ASEAN Core) Sales FY25 - Status Update Initiatives in FY26 & beyond 25 （ 0.1 B BAHT） ◼ While sales fell short of the ◼ Insecticides & Repellents forecast, we nevertheless Work to capture No.1 market 20 registered YoY growth. share in Thailand. ◼ Succe
Slide 12: Overseas: Status Update (Expansion in ASEAN)
In local-currency terms Overseas: Status Update (Expansion in ASEAN) Sales FY25 - Status Update Initiatives in FY26 & beyond 25 （1 M MYR） ◼ Strong performance in ◼ Continue focusing our Insecticides & Repellents initiatives on Insecticides & 20 and air fresheners, driving Repellents and air YoY sale
Slide 13: Overseas: Status Update (China, Exports)
In local-currency terms Overseas: Status Update (China, Exports) Sales FY25 - Status Update Initiatives in FY26 & beyond 200 (1 M RMB) ◼ While results fell short of the ◼ Identify and target retail leaders sales target, we still registered in each area, increasing product YoY growth, especially from
Slide 14: General Environment and Sanitation Business: Status Update
General Environment and Sanitation Business: Status Update ◼ Steady growth in the number of contracts & contract amounts, thanks to greater demand for hygiene control services leveraging Earth’s expert knowledge and knowhow. ◼ Unit value per contract continues rising alongside the expertise-oriented
Slide 15: MA-T Business – Status Update
MA-T Business – Status Update ◼ Earth Corp. participated in the Sedona Forum Tokyo international policy conference held by the MCCAIN INSTITUTE. ◼ Approximately 140 Japanese and U.S. business leaders, government officials, and media representatives in attendance. Executed infection control measures
Slide 16: MTBP – Progress Review
MTBP – Progress Review ◼ Drive further progress with an eye toward the next MTBP General Environment and Japan Overseas MA-T Sanitation Minimize seasonality Overseas business as a Develop a new business effects to secure core growth driver with a Secure steady profits immune to seasonality profit fo
Slide 17: Progress of One-off Expenses
Progress of One-off Expenses (Incl. Structural Transformation) ◼ Structural transformation and expenses related to Earth’s 100th anniversary were more or less in line with the forecast. ◼ Allocated the strategic expense budget to personnel expenses (returns to employees, including year-end performan
Slide 18: Operating Income Change Factors (vs. Forecast)
Operating Income Change Factors (vs. Forecast) ◼ PROTOLEAF, Inc. became a consolidated subsidiary and positive changes to the sales composition led to a profit overperformance. ◼ Personnel expenses exceeded the forecast against the backdrop of returns to employees, including year-end performance-lin
Slide 19: Progress Vs. Initial Operating Income Target (Quarterly / Full FY)
Progress Vs. Initial Operating Income Target (Quarterly / Full FY) (Unit: 0.1 B JPY) ◼ Excluding one-time discretionary employee bonuses in Q4, operating income results were in line with the forecast. Q1 Q2 Q3 Q4 Quarterly 72.8 62.7 49.8 51.0 57.8 59.0 - 0.7 - 5.0 - 2.8 - 42.6 - 40.0 - 51.9 135.5 13
Slide 20: Extraordinary Income & Losses
Extraordinary Income & Losses ◼ Extraordinary income: ¥390 M; Extraordinary losses: ¥1.21 B ◼ Unexpected extraordinary losses related to Earth Pet Co., Ltd. not included in the guidance raise announced in August 2025, causing us to fall slightly short of the revised net income forecast. Income / Lin
Slide 21: Profitability & Capital Efficiency – Status Update
Profitability & Capital Efficiency – Status Update (Unit: 0.1 B JPY) ◼ Improvements in ROE and ROIC thanks to profitability improvements. The EVA spread (ROIC-WACC) has increased to 2.0pt. ◼ Looking at debt, we remain at very healthy levels of financial stability. Profitability & Capital Efficiency
Slide 22: FY 12/2026 – Forecast Outline
FY 12/2026 – Forecast Outline
Slide 23: 2026 Quantitative Targets – Progress Review
2026 Quantitative Targets – Progress Review Achieved most income targets 1 year ahead of schedule 2024 Results 2025 Results Change MTBP Target Earnings Consolidated sales ¥169.2 B ¥179.1 B ＋¥9.9 B ¥170.0 B (Overseas sales*) ¥21.8 B ¥23.0 B ＋¥1.3 B ¥25.0 B % of sales 12.9% 12.9% ±0.0pt 14.7% Operatin
Slide 24: Integration of BATHCLIN Corp. via Absorption-Type Merger
Integration of BATHCLIN Corp. via Absorption-Type Merger Medium-to-long-term target: Capture a 50% market share in bath salts Expanding global bath & wellness culture Sales Dept. ( Japan/Overseas) productivity gains Maximize Optimized realignment marketing spend of production lines efficiency × Syne
Slide 25: Progress in Group Reorganization
Progress in Group Reorganization Group reorganization efforts to enhance the Earth Group’s management capabilities ➊ ➋ Earth Corporation Transition to a holdings structure Merger completed in January 2026 Seriously review our options © Earth Corporation All Rights Reserved. 24
Slide 26: DX Initiatives
DX Initiatives Secured DX certification ahead of the next MTBP; Currently formulating our DX strategy The Earth Group’s DX Vison & 5 Medium-to-long-term policy items DX Vision A leading company that uses digital technology as a management driver to accurately grasp changes and co-create prosperous l
Slide 27: Formulating the Next MTBP
Formulating the Next MTBP Build a robust management foundation with multiple revenue streams Household Products business General Environment and Sanitation business Stable profits from Insecticides & Repellents Monetize Make this business ＋ MA-T a core revenue stream Raise profitability of homecare
Slide 28: 2026: Forecast Highlights
2026: Forecast Highlights 2026 will be a pivotal year for the Earth Group, serving as the final year to solidify the achievements of COMPASS 2026 and as bridge to the next MTBP (Unit: 0.1 B JPY) 2026 Forecast Highlights 2025 Results • Domestic / General Environment and Sanitation Business: We expect
Slide 29: Management Accounting Basis: Sales / GPM (2026 Forecast)
Management Accounting Basis: Sales / GPM (2026 Forecast) ◼ Domestic – Insecticides & Repellents: Will launch products to drive market growth; Build on our robust existing market position to deliver stable growth & secure profits. ◼ Domestic – Homecare Products: Unlock post-merger synergies with BATH
Slide 30: Shareholder Returns
Shareholder Returns Shareholder returns policy ◼ Maintain a foundation of consistent, stable dividends for shareholders while flexibly evaluating dividend increases and share buybacks reflecting earnings performance and retained earnings. ◼ Guiding for an annual dividend of ¥130/share in 2026, a YoY
Slide 31: Supplementary Materials: FY12/2025 Results
Supplementary Materials: FY12/2025 Results
Slide 32: Consolidated: Statement of Income
Consolidated: Statement of Income (FY25 Results & FY26 Forecast) （Unit：million JPY） 4Q FY24 4Q FY25 4Q FY25 VS YoY vs.FCT FY26 Results Initial forecast Results +/- YoY +/- FCT Forecast YoY Sales 169,278 175,000 179,182 9,904 105.9% 4,182 102.4% 188,000 104.9% Cost of sales 100,309 102,700 104,448 4,
Slide 33: Consolidated: Sales by Segment
Consolidated: Sales by Segment (FY25 Results & FY26 Forecast) （Unit：million JPY） 4Q FY24 4Q FY25 4Q FY25 VS YoY vs.FCT FY26 Results Initial forecast Results +/- YoY +/- FCT Forecast YoY Insecticides & Repellents 65,611 0 67,651 2,040 103.1% 0 0.0% 70,665 104.5% Gardening products 4,132 0 7,998 3,865
Slide 34: Consolidated: SG&A Expenses
Consolidated: SG&A Expenses (FY25 Results & FY26 Forecast) （Unit：million JPY） 4Q FY24 4Q FY25 4Q FY25 VS YoY vs.FCT FY26 Progress Results Initial forecast Results +/- YoY +/- FCT Forecast ratio Personal expenses 23,588 23,278 24,758 1,169 105.0% 1,479 106.4% 24,071 102.9% Shipping costs 4,853 5,062
Slide 35: Consolidated: Balance Sheet
Consolidated: Balance Sheet (FY25 Results) （Unit：million JPY） End of End of VS YoY FY24 FY25 +/- Current Cash & deposits 17,007 23,327 6,320 assets Trade receivable 25,521 25,941 420 Inventories 29,885 32,305 2,419 Others 2,658 2,764 105 Non-current Property, plant & equipment 31,443 29,375 - 2,068
Slide 36: Consolidated: Statement of Cash Flows
Consolidated: Statement of Cash Flows (FY25 Results) （Unit：million JPY） End of End of VS YoY FY24 FY25 +/- Cash flows from operating activities 13,964 10,795 - 3,168 Cash flows from investing activities - 5,280 - 3,759 1,521 Cash flows from financing activities - 9,901 - 1,016 8,884 Effect of exchan
Slide 37: Overview of Group Companies' Business Performance (FY25 Results)
Overview of Group Companies' Business Performance (FY25 Results) （Unit：million JPY） Earth Corporation BATHCLIN Corporation Hakugen Earth Co., Ltd. 4Q FY24 4Q FY25 4Q FY25 4Q FY24 4Q FY25 4Q FY25 4Q FY24 4Q FY25 4Q FY25 Results Initial forecast Results Results Initial forecast Results Results Initial
Slide 38: FY25 Operating Income Change Factors (YoY)
FY25 Operating Income Change Factors (YoY) ◼ Increased revenue from Insecticides & Repellents and higher profit margins from shifting to higher- priced items contributed significantly. ◼ While personnel and advertising expenses increased, the surge in raw material prices has stabilized. (Unit: 0.1 b
Slide 39: Overseas Results (FY21-25 Results)
Overseas Results (FY21-25 Results) (Unit: 0.1 billion JPY) Overseas sales external customers only (excluding internal offsets) Overseas OI (Simple sum) © Earth Corporation All Rights Reserved. supplement 8
Slide 40: Consolidated: Capital expenditure, Depreciation expenses
Consolidated: Capital expenditure, Depreciation expenses （Unit：million JPY） FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Results Results Results Results Forecast Results Results Results Results Forecast CAPEX 5,883 6,473 4,376 4,374 6,536 Depreciation 3,852 4,118 4,424 4,578 4,646 © Earth Corpo
Slide 41: Forward-looking statements
23 Results 24 Results This presentation contains forward-looking statements and financial results forecasts. These forward-looking statements and financial results forecasts were formulated on the basis of company assumptions based on the information available. These statements and forecasts are sub