Nagaileben Co., Ltd. · TSE:7447
Nagaileben — FY2026 Earnings Presentation
59 slides from Nagaileben's earnings presentation, October 2026
Slide 1: Analyst Guide
ANALYST GUIDE October 2026 (Listed on the Prime Market Segment of the Tokyo Stock Exchange; Code 7447) <Contact for information on this material: Mr. Yamamura, Administration Headquarters (+81-3-5289-8200)>
Slide 2: Agenda Index
Agenda Index Ⅰ Highlights ・・・・ ・・ 4 p Ⅱ Market Environment ・・・・・・ 7 p Ⅲ Financial Review of of FY2026・・11 p and Forecast for FY2027 Ⅳ Overview and Measures ・・・・ 21 p Ⅴ Management Goals ・・・・・・・ 26 p VI Rewarding Shareholder- ・・・・ 32 p Focused Policies (Appendix) About “NAGAILEBEN” ・・・ 38 p 1 © Nagail
Slide 3: Our Purpose
Our Purpose To create an environment where healthcare and nursing Corporate Philosophy care professionals can work more safely, more We aspire to be a source of strength for life. comfortably, with greater peace of mind, and with pride — and to become a source of strength for those who support life.
Slide 4: NAGAILEBEN's Path Forward
NAGAILEBEN’s Path Forward Turning Challenges in Healthcare and Nursing Care Setting into Product Value. The medical wear we provide is more than just a uniform. 01 What Will Remain Unchanged For healthcare and nursing care professionals, it is an essential part of their daily work — Since our foundi
Slide 5: I Highlights
I Highlights 4 © Nagaileben Co.,Ltd.
Slide 6: Highlights
Highlights Performance Net Sales Solid performance in the Core Market and Overseas Markets was offset by a significant decline in Patient Wear sales. Gross Profit Margin Although the business environment remains challenging, performance progressed in line with plan, and the gross profit margin recov
Slide 7: Highlights
Highlights NAGAILEBEN “Healthcare Uniform Day” Event NAGAILEBEN participated in a community event held at Nishichita General Hospital on August 9 as part of its “Healthcare Uniform Day” initiative. Participants were invited to write messages of appreciation for healthcare professionals, which were c
Slide 8: II Market Environment
II Market Environment 7 © Nagaileben Co.,Ltd.
Slide 9: Market Environment Topics
Topics Market Environment Moving Toward Greater Stability - Deteriorating operating conditions at medical and nursing care institutions due to rising costs - Decision on substantial increases in the FY2026 revisions to medical and long-term care reimbursement rates Medical service fees: +3.09% Drug
Slide 10: Revisions to Medical Treatment and Care Service Fees
Environment Revisions to Medical Treatment and Care Service Fees Decision on substantial increases in the FY2026 revisions to medical and long-term care reimbursement rates - Medical service fees: +3.09%(Revised in June) Drug prices, etc.: -0.87%(Revised in April) - Long-term care service fees: +2.0
Slide 11: Supply and Estimated Future Need
Environment Supply and Estimated Future Need (10,000 persons) Nursing Staff Care Workers 300 250 200 150 272.0 100 212.6 50 0 2024 2040 Actual record: Report on Public Health Administration and Services (Report on Employed Medical Personnel) Actual record: Update on Trends in the Number of Care Staf
Slide 12: III Financial Review of FY2026 and Forecast for FY2027
Ⅲ Financial Review of FY2026 and Forecast for FY2027 11 © Nagaileben Co.,Ltd.
Slide 13: Consolidated Results
Consolidated Results Financial Review of FY2026 and Forecast for FY2027 FY2026 FY2027 (millions of yen,%) Full(Results) y/y Change Full(Forecast) y/y Change Net sales 17,205 ＋1.3 17,500 +1.7 Gross profit 6,887 ＋2.6 7,038 +2.2 Sales, general, and administrative expenses 3,262 ＋4.3 3,436 +5.3 Operatin
Slide 14: Consolidated Results: Net Sales
Consolidated Results FY2026 FY2026 FY2026 FY2026 First-half 3Q 4Q Second-half Net sales 78 Billion yen 54 Billion yen 39 Billion yen 93 Billion yen y/y Change +0.2% -2.1% +8.8% +2.2% （millions of yen） y/y Change Core Market +1.4% -0.8% +17.5% +5.6% Patient wear -9.3% -12.8% -14.5% -13.9% 13 © Nagail
Slide 15: Consolidated Results: Gross Profit
Consolidated Results Financial Review of FY2026 and Forecast for FY2027 FY2026 FY2027 (millions of yen,%) Full(Results) y/y Change Full(Forecast) y/y Change Net sales 17,205 ＋1.3 17,500 +1.7 Gross profit 6,887 ＋2.6 7,038 +2.2 Sales, general, and administrative expenses 3,262 ＋4.3 3,436 +5.3 Operatin
Slide 16: Outlook of Gross Profit to Sales
Consolidated Results Outlook of Gross profit to sales Full Year Gross profit 43.9 42.8 39.5 40.0 40.2 to sales （%） 15 © Nagaileben Co.,Ltd.
Slide 17: Consolidated Results: SG&A and Capital Expenditure
Consolidated Results Financial Review of FY2026 and Forecast for FY2027 FY2026 FY2027 (millions of yen,%) Full(Results) y/y Change Full(Forecast) y/y Change Net sales 17,205 ＋1.3 17,500 +1.7 Gross profit 6,887 ＋2.6 7,038 +2.2 Sales, general, and administrative expenses 3,262 ＋4.3 3,436 +5.3 Operatin
Slide 18: Status of System Investment Initiatives
Business Plan Status of System Investment Initiatives Category Planned Amount ・Development of Core Systems ¥808 m System Investment ・Overhaul of Other Systems ¥53 m ¥1,061 M ・Overhaul of System Infrastructure ¥200 m Implementation Timeline Image (Cumulative) (millions of yen) ¥1,061 m ¥611 m ¥416 m
Slide 19: Financial Review of FY2026 (Balance Sheet)
Consolidated Results Financial Review of FY2026(Balance Sheet) Major assets (¥ million %) Title Result Change Result Change% [Major changes from the previous fiscal year] Cash on hand at banks 22,399 -1,846 -7.6 Notes and accounts receivable (including electronically recorded claims) 3,192 -1,490 -3
Slide 20: IV Overview and Measures
IV Overview and Measures 19 © Nagaileben Co.,Ltd.
Slide 21: Market Classification by Item
Market Classification Item Classification By Market Core Market Peripheral Market Healthcare wear Infection prevention Patient wear Doctors' wear Utility wear Surgery wear 20 © Nagaileben Co.,Ltd.
Slide 22: Overview and Measures: Market
Overview and Measures Market Composition y/y change FY2026 FY2027 (FY2026) (%) Full(Results) Fulll(E) Utility/Others Total sales +1.3 +1.7 Doctors' Core Market +3.7 +0.7 Healthcare wear +4.3 +1.0 Patient Doctors' wear +3.1 +1.4 Utility / Others -6.7 -10.5 Peripheral Market -5.4 +2.3 Surgery Patient
Slide 23: Overview and Measures: Product
Overview and Measures Product y/y change FY2026 FY2027 (%) Full(Results) Fulll(E) Sales by Product Total sales +1.3 +1.7 (¥ million) High-End products -1.2 +0.8 High Value-Added products +3.7 +2.2 Value-Added products -3.5 +1.2 Mass products -0.4 -1.5 High-End products (Retail price) High Value-Adde
Slide 24: Overview and Measures: Production
Overview and Measures Production Composition FY2026 FY2027 Changes in Production Status (%) Full Full(E) (Non-Consolidated) Domestic (¥ million) (%) production 40.9 37.9 Overseas production 58.5 61.5 Purchased products 0.6 0.6 The shift to overseas production and the increase in product manufacturin
Slide 25: V Management Goals
V Management Goals 24 © Nagaileben Co.,Ltd.
Slide 26: Business Direction
Strategy Business Direction -Capture Needs in Core Market Market -Increase Share of Peripheral Market -Cultivate Overseas Market -Develop and Sale of High-End and High Value-Added Products Product -Development of Low-Cost Strategic Products Utilizing Overseas Materials -Shift to Overseas Production
Slide 27: Current Status of Marketing Strategy
Business Plan Current Status of Marketing Strategy Strategy Upcoming Actions Drive replacement orders and acquire new customers Capture needs with strategy for value-added through high-value-added products under the miffy products in core market brand. Expansion of Market Share through COMPELPACK an
Slide 28: Current Status of Production Strategy
Business Plan Current Status of Production Strategy Strategy Upcoming Actions Increase the Ratio of Overseas Production to Compensate for the Management of suitable location Decrease in Domestic Production Capacity. production Material: Cost reduction by transferring production from domestic materia
Slide 29: Business Direction
Strategy Business Direction FY2023 FY2026 FY2029E (3 terms ago) (Previous term) (3 terms later) Core Market Peripheral Overseas High Value-Added Product Value-Added Mass High-End Overseas Production Domestic Purchased products 28 © Nagaileben Co.,Ltd.
Slide 30: Trend of Business Records
Strategy Trend of Business Records (¥ million) （％） 26 27 28 29 E E E (FY) (¥ million) Note: Consolidated data since FY1994 are shown. Preceding years represent non-consolidated data. The exchange rate for FY2028/FY2029 is assumed to be 150 yen/dollar. . FY2029E Net Sales 18,500 Operating 4,000 Incom
Slide 31: VI Rewarding Shareholder-Focused Policies
VI Rewarding Shareholder -Focused Policies 30 © Nagaileben Co.,Ltd.
Slide 32: Shareholder-Focused Policies
Reward Reimbursement Policy Shareholder-Focused Policies - Improvement of transparency by proactive disclosure - Interactive communication with investors - Profit reimbursement by high dividends Dividend Policy - Basic policy is to continue stable dividend payment with payout ratio of 50% We plans t
Slide 33: Shareholder Returns Based on Stable Profit
Reward Shareholder Returns Based on Stable Profit Strong balance sheet Achieving a high Highly profitability return rate 80.3 % (Total dividend + Share buyback) ÷ Net Income Share buyback Net Income ¥12.5 B Total Assets Capital-to- asset ratio Shareholder ¥42.1 B Total dividend Returns 92.6 % ¥58.9
Slide 34: Flexible Repurchase of Share
Reward Flexible Repurchase of Share The movement of our company's stock price Stock price (end of month closing) before adjustment for splits （Yen） Stock price (end of month closing) FY2003 FY2004 FY2010 FY2011 FY2013 FY2014 FY2017 FY2025 FY2026 12.5Yen 15Yen 30Yen 32.5Yen 35Yen 45Yen 50Yen 60Yen 60
Slide 35: Actual Dividends Paid
Reward Actual Dividends Paid Total Total Share Payout return dividend buyback ratio ratio （Million yen） （Million yen） （non-c, ％） （non-c, ％） FY2001 475 0 27.4 27.4 FY2002 475 0 29.3 29.3 FY2003 530 1,697 29.7 124.6 FY2004 744 0 36.5 36.5 2004/2/24 Stock split 2-for-1 FY2005 1,117 0 56.9 56.9 FY2006 1
Slide 36: The History of Stock Value
Reward The History of Stock Value BPS EPS DPS （Yen） （Yen） （yen） （yen） （yen） ※1 FY2009: Accrued pension fund FY2001 532.5 50.8 12.5 withdrawal payment loss ¥1.04b. A dotted FY2002 568.3 48.0 12.5 line is when there was not outbreak. FY2003 604.0 52.4 15.0 FY2004 663.0 60.5 30.0 FY2005 700.0 56.7 30.0
Slide 37: About NAGAILEBEN
(Appendix) About “NAGAILEBEN” 36 © Nagaileben Co.,Ltd.
Slide 38: Competitive Position in Medical Clothing Market
Outline Over 100 Years in Business (Established in 1915) 1 Competitive Position in Medical Clothing Market -Approximately 60% market share -Integrated Production System in domestic medical clothing Planning, Manufacturing and Marketing - The number of shipments is -Competitive product such as extens
Slide 39: Highly Profitability, Strong Balance Sheet, Rewarding
Outline 3 Highly Profitability Strong Balance Sheet - Realization of high profitability (%) Change of Gross Profit to Sales 40.0% (2026) with radical pursuit of efficiency 33.1% -Gross profit to sales 40.0% 28.6% (1990) 45.3% 45.8% -Capital-to-asset ratio 92.6% (2010) (2020) (1980) 39.7% -ROE 6.6% （
Slide 40: SDGs Solving Social Issues Through Our Business
SDGs Solving Social Issues Through Our Business 2050 Low-Carbon Social Responsibility Environmental -Assist hospitals to reduce Efforts waste and be more economical. -Regional contribution -Consideration to environmental Regional through production base load of business. -Support hospital facilities
Slide 41: CSR Our Efforts Based on Corporate Philosophy
Our Efforts Based on CSR “We aspire to be a source of strength for life.” Women principal domains: Medical and Sewing Products of Nagaileben are mainly for women, who work as a Support nursing staff or a care worker. At production sites of Nagaileben, Women many women staff has been engaged in sewin
Slide 42: CSR Our Efforts Based on Social Responsibility
CSR Our Efforts Based on Social Responsibility Environmental Efforts Social Responsibility Reduction of Environmental Load Through -Providing uniforms for disaster support nurses to the Japanese Nursing Asso Business ciation Many of our products use materials derived from exhaustible -Donation Infec
Slide 43: Management Philosophy
Management Philosophy Our management philosophy are “We aspire to be a source of strength for life.” and “Harmony”. We think that well-balanced growth with human, profit and philanthropy become the responsible corporate. Furthermore, we have our company spirit, “Nagaism”. We continue to specialize i
Slide 44: Data File
Data File FY2026 (Listed on the Prime Market Segment of the Tokyo Stock Exchange; Code 7447) <Contact for information on this material: Mr. Yamamura, Administration Headquarters (+81-3-5289-8200)>
Slide 45: Index
Index 1 … Sales by Market 2 … Sales by Item 3 … Sales by Product 4 … Production Strategy (Non-Consolidated) 5 … Statements of Income (Consolidated) 6 … Statements of Income (Non-Consolidated) 7 … Indices (Consolidated) 8 … Indices (Non-Consolidated) 9・10 … Statements of Income (Consolidated・Non-Cons
Slide 46: Sales by Market
1. Sales by Market (¥ million) (¥ million) First-half First-half FY 23/8 24/8 25/8 26/8 27/8E 25/8 26/8 18,000 Sales 17,181 16,412 16,983 17,205 17,500 7,843 7,861 Core Market 12,438 11,640 11,996 12,437 12,530 5,530 5,607 16,000 Peripheral Market 4,509 4,508 4,763 4,506 4,610 2,230 2,142 Overseas M
Slide 47: Sales by Item
2. Sales by Item (¥ million) (¥ million) First-half First-half FY 23/8 24/8 25/8 26/8 27/8E 25/8 26/8 18,000 Sales 17,181 16,412 16,984 17,205 17,500 7,843 7,861 Healthcare wear 9,395 8,815 9,165 9,559 9,660 4,263 4,336 16,000 Doctors' wear 2,517 2,354 2,412 2,486 2,520 1,079 1,087 14,000 Utility/Ot
Slide 48: Sales by Product
3. Sales by Product (¥ million) (¥ million) First-half First-half FY 23/8 24/8 25/8 26/8 27/8E 25/8 26/8 18,000 Sales 17,181 16,412 16,983 17,205 17,500 7,843 7,861 High-End products 1,389 1,269 1,324 1,308 1,320 611 592 16,000 High Value-Added products 9,908 9,840 10,543 10,938 11,180 4,942 5,017 V
Slide 49: Production Strategy (Non-Consolidated)
4. Production Strategy(Non-Consolidated) (¥ million) (¥ million) (％) First-half First-half FY 23/8 24/8 25/8 26/8 27/8E 12,500 65 25/8 26/8 Domestic production 4,933 4,673 4,653 4,435 3,919 2,366 2,311 Overseas production 5,680 5,559 5,883 6,345 6,360 2,950 3,046 10,000 Purchased products 64 63 65 6
Slide 50: Statements of Income (Consolidated)
5. Statements of Income (Consolidated) (¥ million) First-half First-half FY 18/8 19/8 20/8 21/8 22/8 23/8 24/8 25/8 26/8 27/8E 25/8 26/8 Net Sales 17,144 16,785 17,066 17,563 17,745 17,181 16,412 16,983 17,205 17,500 7,843 7,861 Gross profit 8,050 7,840 7,810 8,058 7,881 7,547 7,028 6,712 6,887 7,03
Slide 51: Statements of Income (Non-Consolidated)
6. Statements of Income (Non-Consolidated) (¥ million) First-half First-half FY 18/8 19/8 20/8 21/8 22/8 23/8 24/8 25/8 26/8 27/8E 25/8 26/8 Net Sales 17,140 16,777 17,061 17,552 17,737 17,177 16,402 16,971 17,190 17,500 7,836 7,853 Gross profit 7,835 7,694 7,650 7,875 7,726 7,390 6,894 6,650 6,825
Slide 52: Indices (Consolidated)
7. Indices (Consolidated) First-half First-half (Unit) 22/8 23/8 24/8 25/8 26/8 25/8 26/8 Profitability ROE (%) 9.0 7.5 6.6 6.1 6.6 - - ROA (%) 11.0 9.9 8.7 8.1 8.8 - - Return on sales Net income (%) 21.3 18.8 17.2 15.2 15.4 - - ROE resolution Total Assets Turnover (Times) 0.4 0.4 0.3 0.4 0.4 - - Le
Slide 53: Indices (Non-Consolidated)
8. Indices (Non-Consolidated) First-half First-half (Unit) 22/8 23/8 24/8 25/8 26/8 25/8 26/8 Profitability ROE (%) 9.5 8.1 7.0 6.6 7.0 - - ROA (%) 11.6 10.5 9.2 8.7 9.4 - - Return on sales Net income (%) 21.0 18.6 17.1 15.1 15.1 - - ROE resolution Total AssetsTurnover (Times) 0.4 0.4 0.4 0.4 0.4 -
Slide 54: Statements of Income (Consolidated)
9. Statements of Income (Consolidated) (¥ million,%) (¥ million,%) FY 25/8 26/8 Change(the previous year) First-half 25/8 First-half 26/8 Change(the previous year) Result Composition Result Composition Result Change % Result Composition Result Composition Result Change % Net Sales 16,983 100.0 17,20
Slide 55: Statements of Income (Non-Consolidated)
10. Statements of Income (Non-Consolidated) (¥ million,%) (¥ million,%) FY 25/8 26/8 Change(the previous year) First-half 25/8 First-half 26/8 Change(the previous year) Result Composition Result Composition Result Change % Result Composition Result Composition Result Change % Net Sales 16,971 100.0
Slide 56: Balance Sheet (Consolidated)
11. Balance Sheet (Consolidated) (¥ million,%) (¥ million,%) FY 25/8 26/8 Change(the previous year) First-half 25/8 First-half 26/8 Change(the previous year) Result Composition Result Composition Result Change % Result Composition Result Composition Result Change % Current assets 36,200 81.0 33,583
Slide 57: Balance Sheet (Non-Consolidated)
12. Balance Sheet(Non-Consolidated) (¥ million,%) (¥ million,%) FY 25/8 26/8 Change(the previous year) First-half 25/8 First-half 26/8 Change(the previous year) Result Composition Result Composition Result Change % Result Composition Result Composition Result Change % Current assets 32,935 80.1 30,3
Slide 58: The Forecasts/Results of Net Sales (Consolidated)
13.The Forecasts/Results of Net Sales (Consolidated) (¥ million) (％) [Forecast] (Initial plan) (¥ million) 20,000 50 FY 22/8 23/8 24/8 25/8 26/8 Full Year 17,700 18,200 17,800 17,500 18,000 First-half 7,719 8,022 7,936 7,660 8,170 Second-half 9,980 10,178 9,863 9,839 9,829 15,000 25 [Result] (¥ mill
Slide 59: Notes on this material
Notes on this material This material includes forecasts for the future. These forecasts are based on the judgment of the Company's management concerning currently available information. These future projections include assumptions or views based on assumptions, and therefore may be different from th