Aica Kogyo Company, LimitedTSE: 4206

Consolidated Financial Results for the Six Months Ended September 30, 2025

· Issued by Aica Kogyo Company, Limited

DISCLAIMER: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

November 5, 2025

Consolidated Financial Results for the Six Months Ended September 30, 2025 (Under Japanese GAAP)

Company name: Aica Kogyo Company, Limited

Listing: Tokyo Stock Exchange / Nagoya Stock Exchange

Securities code: 4206

URL: https://www.aica.co.jp Representative: Kenji Ebihara, President

Inquiries: Yousuke Mori, General Manager,Financial Management Department Telephone: +81-52-533-3135

Scheduled date to file semi-annual securities report: November 12, 2025

Scheduled date to commence dividend payments: December 2, 2025

Preparation of supplementary material on financial results: Yes

Holding of financial results briefing: Yes (for institutional investors and analysts)

(Yen amounts are rounded down to millions, unless otherwise noted.)

  1. Consolidated financial results for the six months ended September 30, 2025 (from April 1, 2025 to September 30, 2025)
    1. Consolidated operating results (Percentages indicate year-on-year changes.)

      Net sales

      Operating profit

      Ordinary profit

      Profit attributable to owners of parent

      Six months ended

      Millions of yen

      %

      Millions of yen

      %

      Millions of yen

      %

      Millions of yen

      %

      September 30, 2025

      121,351

      1.0

      13,348

      1.5

      14,671

      3.1

      9,424

      6.4

      September 30, 2024

      120,140

      6.0

      13,147

      15.3

      14,230

      18.1

      8,855

      12.7

      Note: Comprehensive income For the six months ended September 30, 2025:

      ¥6,331 million

      [(65.0)%]

      For the six months ended September 30, 2024:

      ¥18,090 million

      [9.7%]

      Basic earnings per share

      Diluted earnings per share

      Six months ended

      Yen

      Yen

      September 30, 2025

      151.29

      139.45

      September 30, 2024

      138.44

      127.91

    2. Consolidated financial position

    Total assets

    Net assets

    Equity-to-asset ratio

    As of

    Millions of yen

    Millions of yen

    %

    September 30, 2025

    279,951

    190,155

    62.4

    March 31, 2025

    288,058

    189,723

    60.2

    Reference: Equity

    As of September 30, 2025: ¥174,553 million

    As of March 31, 2025: ¥173,372 million

  2. Cash dividends

    Annual dividends per share

    First quarter-end

    Second quarter-end

    Third quarter-end

    Fiscal year-end

    Total

    Yen

    Yen

    Yen

    Yen

    Yen

    Fiscal year ended

    March 31, 2025

    -

    56.00

    -

    70.00

    126.00

    Fiscal year ending March 31, 2026

    -

    66.00

    Fiscal year ending

    March 31, 2026 (Forecast)

    70.00

    136.00

    Note: Revisions to the forecast of cash dividends most recently announced: None

  3. Forecast of consolidated financial results for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)

(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Ordinary profit

Profit attributable to owners of parent

Basic earnings per share

Fiscal year ending March 31, 2026

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Yen

265,000

6.6

29,000

5.8

30,000

4.6

18,300

8.3

291.55

Note: Revisions to the earnings forecasts most recently announced: None

* Notes

  1. Significant changes in the scope of consolidation during the period: None

  2. Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements:None

  3. Changes in accounting policies, changes in accounting estimates, and restatement

    1. Changes in accounting policies due to revisions to accounting standards and other regulations: None

    2. Changes in accounting policies due to other reasons: None

    3. Changes in accounting estimates: None

    4. Restatement: None

  4. Number of issued shares (common shares)

    1. Total number of issued shares at the end of the period (including treasury shares)

      As of September 30, 2025

      67,590,664 shares

      As of March 31, 2025

      67,590,664 shares

    2. Number of treasury shares at the end of the period

      As of September 30, 2025

      4,880,663 shares

      As of March 31, 2025

      4,822,848 shares

    3. Average number of shares outstanding during the period(cumulative from the beginning of the fiscal year)

Six months ended September 30, 2025

62,296,108 shares

Six months ended September 30, 2024

63,971,040 shares

Note: The number of treasury shares at the end of the fiscal year includes the Company's shares held by the Stock Benefit Trust (J-ESOP) (46,000 shares for the fiscal year ending March 31, 2026 and 46,900 shares for the fiscal year ending March 31, 2025). In addition, the Company's shares held by the J-ESOP are included in the treasury stock deducted in the calculation of the average number of shares during the period (46,650 shares for the fiscal year ending March 31, 2026 and 46,967 shares for the fiscal year ending March 31, 2025).

  • Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm.

  • Proper use of earnings forecasts, and other special matters

(Cautions on forward-looking statements, etc.)

Forward-looking statements, such as earnings forecasts, contained in this material are based on information available to the Company and are found to be reasonable. It is based on a certain premise that we refuse, and it is not intended to be a promise by the Company to realize it. In addition, actual business performance, etc.

may vary due to a variety of factors. Conditions on which earnings forecasts are premised and when using earnings forecasts

For precautions, please refer to Appendix P.3 "1. Summary of Operating Results, etc. (3) Explanation of Forward-Looking Information such as Consolidated Earnings Forecasts." (Method of accessing supplementary material on financial results and contents of the financial results briefing)

The Company plans to hold an earnings briefing for institutional investors and analysts on Wednesday, November 26, 2025. The video and audio recording of the proceedings will be posted on the Company's website promptly after the meeting, along with the financial results presentation material used on the day.

Semi-annual consolidated balance sheet

(Millions of yen)

As of March 31, 2025

As of September 30, 2025

Assets

Current assets

Cash and deposits

59,573

57,838

Notes receivable - trade

21,576

20,604

Accounts receivable - trade

50,741

48,562

Merchandise and finished goods

17,293

17,859

Work in process

1,979

2,196

Raw materials and supplies

14,613

15,070

Other

14,607

9,350

Allowance for doubtful accounts

(830)

(863)

Total current assets

179,554

170,619

Non-current assets

Property, plant and equipment

74,019

72,469

Intangible assets

Goodwill

2,175

1,798

Other

8,218

7,400

Total intangible assets

10,393

9,198

Investments and other assets

Other

24,091

27,664

Allowance for doubtful accounts

(1)

(1)

Total investments and other assets

24,090

27,663

Total non-current assets

108,503

109,331

Total assets

288,058

279,951

(Millions of yen)

As of March 31, 2025

As of September 30, 2025

Liabilities

Current liabilities

Notes and accounts payable - trade

31,342

29,056

Electronically recorded obligations - operating

3,813

3,675

Short-term borrowings

6,252

7,035

Income taxes payable

4,004

3,931

Provision for bonuses

2,556

2,194

buy-sell transaction liabilities

2,331

2,746

Other

12,475

12,291

Total current liabilities

62,775

60,931

Non-current liabilities

Convertible-bond-type bonds with share acquisition rights

18,036

13,287

Long-term borrowings

3,919

1,117

Retirement benefit liability

2,080

1,873

Other

11,523

12,586

Total non-current liabilities

35,559

28,864

Total liabilities

98,334

89,795

Net assets

Shareholders' equity

Share capital

9,891

9,891

Capital surplus

7,177

8,319

Retained earnings

137,195

142,222

Treasury shares

(10,115)

(12,094)

Total shareholders' equity

144,149

148,339

Accumulated other comprehensive income

Valuation difference on available-for-sale securities

7,970

10,282

Deferred gains or losses on hedges

(5)

(1)

Foreign currency translation adjustment

20,965

15,610

Remeasurements of defined benefit plans

292

322

Total accumulated other comprehensive income

29,223

26,214

Share acquisition rights

19

19

Non-controlling interests

16,331

15,581

Total net assets

189,723

190,155

Total liabilities and net assets

288,058

279,951

Semi-annual consolidated statement of income

(Millions of yen)

Six months ended September 30, 2024

Six months ended September 30, 2025

Net sales

120,140

121,351

Cost of sales

87,885

87,801

Gross profit

32,254

33,550

Selling, general and administrative expenses

19,107

20,201

Operating profit

13,147

13,348

Non-operating income

Interest income

309

326

Dividend income

254

348

Other

970

1,295

Total non-operating income

1,534

1,970

Non-operating expenses

Interest expenses

137

150

Foreign exchange losses

-

272

Other

313

224

Total non-operating expenses

451

646

Ordinary income

14,230

14,671

Profit before income taxes

14,230

14,671

Income taxes - current

3,793

4,212

Income taxes - deferred

723

322

Total income taxes

4,517

4,534

Profit

9,712

10,136

Profit attributable to non-controlling interests

856

712

Profit attributable to owners of parent

8,855

9,424

Semi-annual consolidated statement of comprehensive income

(Millions of yen)

Six months ended September 30, 2024

Six months ended September 30, 2025

Profit

9,712

10,136

Other comprehensive income

Valuation difference on available-for-sale securities

(78)

2,312

Deferred gains or losses on hedges

(2)

4

Foreign currency translation adjustment

8,443

(6,127)

Remeasurements of defined benefit plans, net of tax

19

29

Share of other comprehensive income of entities accounted for using equity method

(3)

(23)

Total other comprehensive income

8,377

(3,805)

Comprehensive income

18,090

6,331

Comprehensive income attributable to

Comprehensive income attributable to owners of parent

15,920

6,415

Comprehensive income attributable to non-controlling interests

2,169

(84)

Semi-annual consolidated statement of cash flows

(Millions of yen)

Six months ended September 30, 2024

Six months ended September 30, 2025

Cash flows from operating activities

Profit before income taxes

14,230

14,671

Depreciation

3,768

4,016

Increase (decrease) in allowance for doubtful accounts

(193)

50

Increase (decrease) in provision for bonuses

(792)

(321)

Increase (decrease) in retirement benefit liability

15

(11)

Interest and dividend income

(563)

(674)

Interest expenses

137

150

Decrease (increase) in trade receivables

4,784

2,020

Decrease (increase) in inventories

(834)

(2,227)

Decrease (increase) in other current assets

(129)

(833)

Increase (decrease) in trade payables

(3,548)

(1,530)

Increase (decrease) in other current liabilities

(868)

(529)

Other, net

(273)

(155)

Subtotal

15,732

14,625

Interest and dividends received

594

702

Interest paid

(134)

(128)

Income taxes paid

(4,704)

(4,386)

Net cash provided by (used in) operating activities

11,487

10,813

Cash flows from investing activities

Payments into time deposits

(45)

(1,217)

Proceeds from withdrawal of time deposits

618

1,666

Purchase of property, plant and equipment

(3,586)

(4,518)

Purchase of intangible assets

(443)

(261)

Purchase of securities

(1,999)

-

Purchase of investment securities

(206)

(304)

Proceeds from sale of investment securities

200

558

Other, net

(571)

(111)

Net cash provided by (used in) investing activities

(6,033)

(4,190)

Cash flows from financing activities

Net increase (decrease) in short-term borrowings

14

729

Repayments of long-term borrowings

(1,030)

(1,280)

Proceeds from long-term borrowings

476

14

Dividends paid

(3,842)

(4,394)

Dividends paid to non-controlling interests

(362)

(537)

Repayments of lease liabilities

(234)

(231)

Purchase of shares of subsidiaries not resulting in change in scope of consolidation

(2,132)

-

Purchase of treasury shares

(0)

(5,624)

Other, net

(0)

-

Net cash provided by (used in) financing activities

(7,112)

(11,324)

Effect of exchange rate change on cash and cash equivalents

2,679

(2,435)

Net increase (decrease) in cash and cash equivalents

1,021

(7,136)

Cash and cash equivalents at beginning of period

59,637

62,450

Cash and cash equivalents at end of period

60,658

55,313

(Notes on segment information, etc.)

  1. Previous interim consolidated accounting period (April 1, 2024 to September 30, 2024)

    1. Information on sales and the amount of profit or loss for each reported segment

      (Millions of yen)

      Reportable segments

      Adjustment amount (Note) 1

      Interim Consolidated Statements of Income (Note)2

      Chemical Products

      Construction and Housing Materials

      Total

      Sales

      Revenues from external customers

      67,571

      52,569

      120,140

      -

      120,140

      Transactions with other segments

      1,872

      1

      1,873

      (1,873)

      -

      Total

      69,443

      52,571

      122,014

      (1,873)

      120,140

      Segment Profit

      4,619

      10,518

      15,137

      (1,990)

      13,147

      Note: 1 The adjustment for segment profit of (1,990) million yen includes (1,988) million yen in company-wide expenses that have not been allocated to each reporting segment. Company-wide expenses are mainly expenses related to general administrative departments (human resources, general affairs, accounting departments, etc.) that are not attributable to the reporting segment.

      2 Segment profit is adjusted to operating income in the interim consolidated statements of income.

    2. Information on impairment losses or goodwill on fixed assets by reporting segment Not applicable.

  2. The Interim Consolidated Accounting Period (April 1, 2025 to September 30, 2025)

    1. Information on sales and the amount of profit or loss for each reported segment

      (Millions of yen)

      Reportable segments

      Adjustment amount (Note) 1

      Interim Consolidated Statements of Income (Note)2

      Chemical Products

      Construction and Housing Materials

      Total

      Sales

      Revenues from external customers

      66,973

      54,378

      121,351

      -

      121,351

      Transactions with other segments

      2,055

      0

      2,056

      (2,056)

      -

      Total

      69,028

      54,378

      123,407

      (2,056)

      121,351

      Segment Profit

      4,368

      11,231

      15,600

      (2,252)

      13,348

      Note: 1 The adjustment for segment profit of (2,252) million yen includes (2,264) million yen in company-wide expenses that have not been allocated to each reporting segment. Company-wide expenses are mainly expenses related to general administrative departments (human resources, general affairs, accounting departments, etc.) that are not attributable to the reporting segment.

      2 Segment profit is adjusted to operating income in the interim consolidated statements of income.

    2. Information on impairment losses or goodwill on fixed assets by reporting segment Not applicable.