Slide 1: Briefing Materials on Business Results for the Second Quarter of the Year Ending December 31, 2026
THE PACK CORPORATION Briefing Materials on Business Results for the Second Quarter of the Year Ending December 31, 2026 September 1, 2026
Slide 2: Contents
Contents 01 Business Results for the Second Quarter of the Year Ending December 31, 2026, and Full-year Forecasts P. 3 02 Progress on Growth Strategies P. 15 03 Initiatives to Increase Corporate Value P. 27 04 Reference Materials P. 32 Copyright© 2026 The Pack Corporation. All Rights Reserved. 2
Slide 3: Business Results for the Second Quarter and Full-year Forecasts
Business Results for the Second Quarter of 01 the Year Ending December 31, 2026, and Full-year Forecasts Copyright© 2026 The Pack Corporation. All Rights Reserved. 3
Slide 4: Highlights
1. Business Results for the Second Quarter of the Year Ending December 31, 2026 Highlights Business results were as planned due to sales growth in priority markets. • Anti-inflationary measures contributed to gentle economic recovery. Business • Steady trends in service consumption centered on recre
Slide 5: Summary of Business Results
1. Business Results for the Second Quarter of the Year Ending December 31, 2026 Summary of Business Results Business results trended as planned. Second quarter of Second quarter of Review of second quarter year ended year ending December 31, 2025 December 31, 2026 ✓ Sales grew in the priority (Milli
Slide 6: Factors Underlying Changes in Operating Profit
1. Business Results for the Second Quarter of the Year Ending December 31, 2026 Factors Underlying Changes in Operating Profit Customer development efforts and efforts to promote cross-selling to address rising costs led to higher profit. Key underlying factors ■Higher raw material costs -140 ■Highe
Slide 7: The Pack's Proposal of Solutions and Cross-selling
1. Business Results for the Second Quarter of the Year Ending December 31, 2026 [Supplemental Material] The Pack's Proposal of Solutions and Cross-selling The hybrid sales structure combining specialization with comprehensive strengths is a competitive advantage for The Pack. (1) Solutions proposal
Slide 8: Exhibiting at TOKYO PACK 2026 to Boost Name Recognition
1. Business Results for the Second Quarter of the Year Ending December 31, 2026 [Supplemental Material] Boosting Name Recognition and Creating Contact Points with Prospective Customers by Exhibiting at Trade Shows Exhibiting at TOKYO PACK 2026 ➢ The Pack will exhibit October 14-16 at TOKYO PACK 2026
Slide 9: Performance by Product
1. Business Results for the Second Quarter of the Year Ending December 31, 2026 Performance by Product Growing demand for materials for e-commerce and shipment packaging drove higher sales and profits, particularly in the Paper Products segment. Second quarter of Second quarter of year ended year en
Slide 10: Summary of Performance by Priority Market
1. Business Results for the Second Quarter of the Year Ending December 31, 2026 Summary of Performance by Priority Market Sales expansion chiefly in the food products and apparel markets Second Topics quarter of Second quarter of year ended year ending December 31, December 31, 2026 [Food products]
Slide 11: Financial Summary
1. Business Results for the Second Quarter of the Year Ending December 31, 2026 Financial Summary Promoting balance sheet management through investments in growth and enhanced shareholder returns (Million yen) Year ended Second quarter of Year ended Second quarter of Liabilities, Assets December 31,
Slide 12: Consolidated Statement of Cash Flows
1. Business Results for the Second Quarter of the Year Ending December 31, 2026 Consolidated Statement of Cash Flows Cash on hand decreased due to investments in growth and measures taken to boost working capital. Second quarter of Second quarter of Key underlying factors year ended year ending Dece
Slide 13: Full-year Performance Forecasts
1. Business Results for the Second Quarter of the Year Ending December 31, 2026 Full-year Performance Forecasts Appropriate pricing is projected to improve operating profit margin. (Million yen) Net sales and operating income trends Second quarter of Year ending December 31, 2026 125,000 Net sales (
Slide 14: Factors Underlying Projected Changes in Operating Profit
1. Business Results for the Second Quarter of the Year Ending December 31, 2026 Factors Underlying Projected Changes in Operating Profit Continuing appropriate pricing, new customer development, and efforts to promote cross- selling (Million yen) Higher gross profit margin Key underlying factors App
Slide 15: Progress on Growth Strategies
02 Progress on Growth Strategies Copyright© 2026 The Pack Corporation. All Rights Reserved. 15
Slide 16: Growth Strategies Toward 2030
2. Progress on Growth Strategies Growth Strategies Toward 2030 Achieving the targets set by strengthening each segment and drawing on robust business foundations KPI Strategic roles of Other indicators Consolidated individual projects and businesses (FY2025 → FY2030) net sales Paper bags (Billion ye
Slide 17: Progress by Product Type: (1) Paper Bags
2. Progress on Growth Strategies Progress by Product Type: (1) Paper Bags (Million yen) Strategic role Robust earnings foundations Net sales and operating income trends 20,000 3,000 Net sales (left axis) Operating income (right axis) * Operating profit margin in parentheses 14,485 14,882 15,000 14,2
Slide 18: [Reference] Examples of Paper Bag Products
1. Business Results for the Second Quarter of the Year Ending December 31, 2026 [Reference] Examples of Paper Bag Products (1) Paper bags with turned-over tops ✓ Paper bags reinforced with turned-over tops ✓ Reinforced tops make the bags stronger and easier to reuse. (2) Paper bags with no turned-ov
Slide 19: Progress by Product Type: (2) Paper Cartons
2. Progress on Growth Strategies Progress by Product Type: (2) Paper Cartons Net sales and operating income trends Product type The largest growth driver of the current Net sales (left axis) Operating income (right axis) (Million yen) Position Medium-Term Management Plan 15,000 * Operating profit ma
Slide 20: Progress by Product Type: (3) Corrugated Boxes
2. Progress on Growth Strategies Progress by Product Type: (3) Corrugated Boxes Product type Strategic products for responding to change Position through proprietary solutions Net sales and operating income trends (Million yen) 10,000 2,000 Net sales (left axis) Operating income (right axis) * Opera
Slide 21: Progress by Product Type: (4) Film Packaging
2. Progress on Growth Strategies Progress by Product Type: (4) Film Packaging Net sales and operating income trends Product type Main pillar of cross-selling leveraging Net sales (left axis) Operating income (right axis) (Million yen) Position * Operating profit margin in parentheses the customer ba
Slide 22: Progress by Product Type: (5) Other
2. Progress on Growth Strategies Progress by Product Type: (5) Other (printing, sewn products, PAS system,* etc.) * PAS system: A vendor business delivering supplies and other products bundled with packaging materials (see p. 41) Net sales and operating income trends Product type Domains for compreh
Slide 23: Progress in Priority Markets: Food Products Market
2. Progress on Growth Strategies Progress in Priority Markets [Food Products Market] Steadily manifesting results of measures under the previous Medium-Term Management Plan Food products market sales results and targets Initiatives in this market Indicators ■ 1H results Sales trends for primary pack
Slide 24: Progress in the e-Commerce and Logistics Markets
2. Progress on Growth Strategies Progress in the e-Commerce and Logistics Markets Growing shares among customers in the e-commerce market e-Commerce and shipment packaging Initiatives in this market EC用資材売上高 Indicators market sales results and targets ■ 1H results Sales trends for e-commerce materia
Slide 25: Progress in the Retail Market and Overseas Businesses
2. Progress on Growth Strategies Progress in the Retail Market and Overseas Businesses Promoting a high-value-added strategy Retail market sales results and targets Initiatives in this market Indicators Sales trends by product in the market for specialized retail ■ 1H results businesses (apparel and
Slide 26: Overview of Capital Allocation Strategy
2. Progress on Growth Strategies Overview of Capital Allocation Strategy Initiating business infrastructure development for the next generation New Medium-Term Management Plan 2026 1H capital and strategic investments (2026-2030) Added value Net cash provided by Growth investments operating activiti
Slide 27: Initiatives to Increase Corporate Value
03 Initiatives to Increase Corporate Value Copyright© 2026 The Pack Corporation. All Rights Reserved. 27
Slide 28: Progress in Human Capital Strategy
3. Initiatives to Increase Corporate Value Progress in Human Capital Strategy Realizing sustained growth through enhancement of human capital Status of initiatives 2026 ⚫ Steadily securing human resources and enhancing Nonconsolidated 2022 2023 2024 2025 (as of June 30) (1) Hiring and the assignment
Slide 29: Progress in IR and SR Activities
3. Initiatives to Increase Corporate Value Progress in IR and SR Activities Taking steps to ensure appropriate market valuations through effective two-way communication with shareholders and investors Status of initiatives Expanding name ⚫ Communicating information via Web media recognition ⚫ Promot
Slide 30: Sustainability Improvement Initiatives
3. Initiatives to Increase Corporate Value Sustainability Improvement Initiatives Addressing materiality topics to boost corporate value Materiality topic KPIs Status of initiatives (%) KPI Achieving 50% or 60 better ratio of sales ⚫ Sales of FSC®-certified products as of June 30, 2026: 50.0 of FSC®
Slide 31: Sustainability Improvement Initiatives
3. Initiatives to Increase Corporate Value Sustainability Improvement Initiatives Addressing materiality topics to boost corporate value Materiality topic KPIs Status of initiatives ⚫ As of June 30, 2026, women accounted for 8.94% of all (%) 20 KPI management positions. ⚫ To boost the representation
Slide 32: Reference Materials
04 Reference Materials Copyright© 2026 The Pack Corporation. All Rights Reserved. 32
Slide 33: Corporate Overview
Corporate Overview Name THE PACK CORPORATION Founded May 1952 (shares listed September 1991; listed on TSE Prime Market April 2022) Headquarters 9-3 Higashiobase 2-chome, Higashinari-ku, Osaka, Osaka Prefecture Lines of Planning, manufacturing and sale of paper bags, folding paper cartons, corrugate
Slide 34: The Pack Group (Nine Consolidated Subsidiaries)
The Pack Group (Nine Consolidated Subsidiaries) * As of June 30, 2026 The Pack Corporation (The four plants in Japan have earned ISO 9001 and ISO 14001 certification.) Headquarters (Osaka) Tokyo Head Office Building Osaka Plant Nara Plant Tokyo Plant Ibaraki Plant Domestic subsidiaries Keihin Tokush
Slide 35: Trends in Net Sales and Ordinary Profit Since Founding
Trends in Net Sales and Ordinary Profit (Consolidated) from the Company’s Founding (1952) through 2025 (Million yen) 100,000 10,000 Net sales (left axis) Ordinary profit (right axis) 90,000 9,000 80,000 8,000 70,000 7,000 60,000 6,000 50,000 5,000 40,000 4,000 30,000 3,000 20,000 2,000 10,000 1,000
Slide 36: Distribution Structure for Major Products
Distribution Structure for Major Products Consumers Main buyers Convenience Supermarkets Apparel Pharmaceuticals Sundries Food Home electronics e-commerce Department and home (mail order) and products stores stores and drug stores cosmetics installations etc. Raw materials makers Other materparts an
Slide 37: The Pack's Strengths (1)
The Pack’s Strengths (1) Strength Specifics 内容 1. A wide-ranging ◆Transaction counterparties: Sales composition customer base approx. 15,000 companies Other Snacks, food products, 33.3% convenience Food products, department stores, stores specialty stores, large retailers, general 30.6% retailers, c
Slide 38: The Pack's Strengths (2)
The Pack’s Strengths (2) Strength Specifics 2. A total packaging ◆ (Full support structure) solutions provider Solutions proposed by joint efforts of the sales, research and planning, engineering, and design sections ◆ (Thorough expertise and access to large body of information) Operating one of Jap
Slide 39: The Pack's Strengths (2)
The Pack’s Strengths (2) Strength Specifics 2. A total packaging solutions ◆The Packaging Laboratories provider Two Packaging Laboratory employee training facilities have opened in Tokyo and Fukuoka. These facilities collect and exhibit a broad range of packaging solutions from across Japan and arou
Slide 40: The Pack's Strengths (3)
The Pack’s Strengths (3) Strength Specifics 3. Integrated manufacturing, Risk management for disasters, accidents, and other incidents through joint efforts involving the sales, and logistics four plants, Group companies, and subcontractor plants structure The Pack Group Manufacturing Paper bag plan
Slide 41: The Pack's Strengths (4) (5)
The Pack’s Strengths (4) (5) Strength Specifics 4. Quality control structure ◆ Four domestic plants earned ISO 9001 certification for quality management systems. ◆ Tokyo and Osaka plants have earned FSSC 22000 international food-safety management system certification. ◆ The entire organization is pu
Slide 42: ESG Initiatives (1)
ESG Initiatives (1) Initiatives Specifics 1. Planning and proposing ◆ Sales begin for KAISONAL® (eco-friendly next-generation oil-resistant coating). packages to support social contribution activities KAISONAL® is a coating agent made from seaweed-derived raw material to meet increasing demands for
Slide 43: ESG Initiatives (2)
ESG Initiatives (2) Strength Specifics 2. Environmental initiatives ◆Four plants in Japan had earned ISO 14001 certification. ◆Continuing to reduce the use of materials appearing on the Pollutant Release and Transfer Register (PRTR) and in industrial waste ◆Developing and expanding sales of eco-frie
Slide 44: ESG Initiatives (3)
ESG Initiatives (3) 取り組み Initiatives 内容 Specifics ® 3. Activities of The Pack Forest ◆In 2000, we established an independent The Pack Forest® Environment Fund and launched Environment Fund volunteer activities to plant and thin forested areas. Currently we have ten planting sites across Japan. (fore
Slide 45: ESG Initiatives (4)
ESG Initiatives (4) Initiatives Specifics ◆ In accordance with our Company Motto, “Passionate and Dedicated to Our Partnerships,” and our 4. Human resource Corporate Philosophy, “We Value and Nurture People,” we are implementing initiatives to development and contribute to employee welfare, includin
Slide 46: ESG Initiatives (5)
ESG Initiatives (5) Initiatives Specifics 5. Social contribution activities ◆As part of our environmental education initiatives, in cooperation with the city of Higashi-Osaka, we organize hands-on manufacturing classes at elementary schools. ◆Supporting the Kansai Philharmonic Orchestra ◆Donations t
Slide 47: Note
Note This document is intended to provide information on management policies and business results for the second quarter of the year ended December 31, 2026. It is not intended to solicit investment in securities issued by the Company. In addition, this document was prepared based on data as of June