for FY03/25
Note :This document has been translated from the Japanese original disclosed on May 15, 2025, for reference purposes only. Please note that certain numerical figures were revised on May 23, 2025, and such revisions have been reflected in this translated document. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Financial Results Presentation
May 15, 2025
Abalance Corporation（TSE Standard: 3856）
目 次
１．Group Company Summary ・・・・・ 3
２．Overview of FY03/25 Consolidated Financial Results
・・・・・ 8
３．Plan for FY03/26 ・・・・・ 14
4．Appendix ・・・・・ 23
１．Group Company Summary Group Company Overview
(as of March 31, 2025)
Solar Panel Manufacturing Business
Green Energy Business Other
(100.0%)
WWB Corporation
Development, sales, construction of solar power systems, Operation of power plants, Sales and rental of construction machines
Abalance CorporationGroup management control and management https://www.abalance.jp/
Vietnam Sunergy Joint Stock Company
（BloombergBNEF25/1Q：Tier1）
Manufacture and sales of solar products
related products (ingots, wafers, and
(100.0%)
and equipment https://wwwb.jp/
VALORS Corporation
Design, operation, consultation, etc. of power plants
https://www.valors.co.jp/
(58.8%)
As of April 30, 2025
panels)
https://www.vsun-solar.com/
(100.0%)
(100.0%)
(50.0%)
PV Repower inc.
Reuse and recycling of used photovoltaic system related products https://www.pvr.inc/
Japan Photocatalyst Center Corporation Manufacture and sale of photocatalytic titanium oxide coating agents and products using them
https://www.jphoc.jp/
Birdy Fuel Cells LLC
Research and development of hydrogen-based energy storage systems https://www.birdyfuelcells.com/
(45.5%)
TOYO Company Limited
（NASDAQ：TOYO）
Manufacture and sales of solar products
related products (cells and panels) https://www.toyo-solar.com/
*% in brackets represent shareholding ratio
*87% of VSUN is owned by FUJISOR, which is 68% owned by WWB
Employees
Consolidated Subsidiaries
Consolidated Net Sales
Consolidated Operating Income
Number of shares
outstanding
Stock Listing
Capital
Establishment
Representative
Address
Trade Name
Company Profile
Abalance Corporation
Tennozu First Tower 16F 2-2-4 Higashishinagawa, Shinagawa-ku, Tokyo
Okada Ryusuke
April 17, 2000
2,521 million yen
2,766 million yen(as of April. 28, 2025)
Consolidated: 1,713/Non-consolidated: 36
39 consolidated subsidiaries/6 equity-method affiliate
72,417 million yen (FY03/25)
3,602 million yen (FY03/25)
17,930,693 shares
19,033,193 shares(as of April 28, 2025)
Tokyo Stock Exchange Standard Market
（Code 3856）
Established
Company Profile and History(as of March 31, 2025)
November 2024
July 2024
October 2023
April 2022
March 2022
December 2020
November 2018
March 2017
November 2011
September 2007
April 2000
History
Listed on the Tokyo Stock Exchange Mothers Market(Realcom Co., Ltd.)
Share exchange implemented: Abalance Corporation (wholly owning parent), WWB Corporation (wholly owned subsidiary)
Company name changed: Abalance
Corporation
Change to the Second Section of the Tokyo Stock Exchange
Consolidated subsidiary: VSUN
Equity-method affiliate：Meiji Machine Co., Ltd. (TSE Standard: 6334)
Transition to the Tokyo Stock Exchange Standard Market
Subsidiary established：TOYO Listed on NASDAQ: TOYO
（Ticker: TOYO）
Consolidated subsidiary：TOYO Solar
Texas LLC （current name）