Bando Chemical Industries Ltd.TSE: 5195

Financial Results for the Fiscal Year Ended March 31, 2026

May 14, 2026 at 5:23 AM UTC · Issued by Bando Chemical Industries Ltd.

‌Financial Results for the Fiscal Year Ended March 31, 2026

May 14, 2026

‌Table of contents

Financial Results for the Fiscal Year ended March 31, 2026
Forecast for the Fiscal Year Ending March 31, 2027
Engagement for Mid-to Long-Term Management Plan
"Creating New Value for the Future" 1st stage
Appendix

001

‌Financial Results for the Fiscal Year Ended March 31, 2026

002

‌Financial Highlight

FY2024

FY2025

（Unit：Million Yen、％）

	Result 115,593	Result	Change +3,664	Forecast 117,000	Achieved ratio 101.9%
Revenue	Result 115,593	119,257	Change +3,664	Forecast 117,000	Achieved ratio 101.9%
Core Operating Profit 7,743		9,551	+1,807	8,200	116.5%
Operating Profit 3,480		12,073	+8,592	10,500	115.0%
Profit attributable to 1,496 owners of parent		10,568	+9,071	7,400	142.8%
Return on Equity 1.8%		12.1%	+10.3ppt	-	-

Exchange rate	U S D	152.57 151.06 -		145.00	-
	T H B	4.40 4.68 -		4.40	-
	C N Y	21.13 21.35 -		20.00	-

Revenue, core operating profit, operating Profit, profit attributable to owners of parent reached a new record high
Operating profit increased significantly due to the absence of impairment losses related to consolidated subsidiaries recorded in the previous fiscal year and the recognition of insurance claim income of ¥1,524 million for the hail damage that occurred at its Kakogawa Plant in the current fiscal year
Profit attributable to owners of parent increased due to a reduction of deferred tax expenses of ¥1,228 million

003

‌Revenue by Area for FY2025

日本

中国

アジア

欧米

Asia

China

（Unit：100 Millions Yen）

Japan

Other

500

477

490

484

349

320

399

393

134

153

144

163

105

118 128

FY2022 FY2023 FY2024 FY2025

004

(※) The above amount was after the elimination of intersegment transactions.

‌Analysis of Core Operating Profit

（Unit：Million Yen）

+276

9,551

7,743

+906

+1,658

(938)

(94)

FY2024	Increase in gross	Changes in cost	Effects of exchange	Increase in SG&A	Effects of exchange	FY2025
Results	profit due to	ratio	rates (gross profit)	expenses	rates (SG&A	Results
	increasing revenue				expenses)

005

‌Quarterly Operating Results (Revenue and Core Operating Profit)

293

287

291

290

265

273

267

275

283

（Unit：100 Millions Yen）

Core Operating Profit Revenue

300

300 300 300

200 20

100 10

Q1 Q2 Q3 Q4 FY2023

Q1 Q2 Q3 Q4 FY2024

006

Q1 Q2 Q3 Q4 FY2025

‌Operating Results by Segment

（Unit：Million Yen）

		FY2024		FY2025
		Result	Result	Change	Change in ratio
Revenue		115,593	119,257	+3,664	+3.2%
	Automotive Parts	58,056	60,397	+2,340	+4.0%
	Industrial Products	38,100	38,807	+707	+1.9%
	Advanced Elastomer Products	14,216	14,423	+207	+1.5%
	Other	6,095	6,954	+858	+14.1%
	Adjustments	(875)	(1,324)	(449)	-
Core Operating Profit		7,743	9,551	+1,807	+23.3%
	Automotive Parts	4,897	5,682	+785	+16.0%
	Industrial Products	2,541	3,264	+723	+28.4%
	Advanced Elastomer Products	(15)	433	+448	-
	Other	296	242	(53)	(18.1)%
	Adjustments	23	(72)	(95)	-

007

‌Overview of Automotive Parts

（Unit：100 Millions Yen）

80.6

54.5

82.1

59.4

324.6

335.8

120.7

126.4

580

Other	+1.9%	Sales of products for aftermarket industries increased in Europe.
China	+9.1%	Sales of variable speed belts for scooters increased.
Asia	+3.4%	Sales of variable speed belts for scooters for aftermarket industries increased.
Japan	+4.8%	Sales of accessory drive power transmission belts (such as RIBACE ) and accessory drive power transmission system goods (such as Auto Tensioner) increased due to an increase in the number of models adopting to the Company's products.

603

Revenue by Area

600

400

200

FY2024 FY2025

Core Operating profit

（Unit：100 Millions Yen）

56.8

48.9

Core

Operating Profit

+16.0%

Core operating profit increased due to an increase in revenue.

008

FY2024 FY2025

Note: The above amount of revenue was after the elimination of intersegment transactions.

Other	+11.0%	Sales of power transmission belts for industrial machinery increased.
China	+21.9%	Sales of power transmission belts for agricultural machinery increased.
Asia	(12.3)%	Sales of power transmission belts for agricultural machinery decreased.
Japan	(0.3)%	Sales of power transmission belts for industrial machinery increased. Although sales of light-duty conveyer belts (such as SUNLINE belt) increased, sales of heavy-duty conveyer belts decreased.

‌Overview of Industrial Products

Revenue by Area

（Unit：100 Millions Yen）

65.5

29.2

47.5

72.7

35.6

41.6

238.6

238.0

381

300

150

388

FY2024 FY2025

Core Operating Profit

（Unit：100 Millions Yen）

32.6

25.4

Core

Operating Profit

+28.4%

Core operating profit increased due to an increase in revenue and changes in sales mix.

009

FY2024 FY2025

(※) The above amount of revenue was after the elimination of intersegment transactions.

Films Products	+3.1%	Sales of decorative display films increased.
Precision Parts	+0.4%	Although sales of precision belts and cleaning blades decreased, sales of high-performance rollers increased.

‌Overview of Advanced Elastomer Products

Revenue by Products

（Unit：100 Millions Yen）

87.2

87.5

56.6

54.9

142

100

144

FY2024 FY2025

Core Operating Profit

（Unit：100 Millions Yen）

(0.1)

4.3

Core Operating

Profit

+448

Million yen

Core operating profit increased due to changes in sales mix.

(4)

010

FY2024 FY2025

(※) The above amount of revenue was after the elimination of intersegment transactions.

‌Statements of Financial Position

（Unit：100 Millions Yen）

1,206

1,318

Cash and cash equivalents	Borrowings 71
177	Trade and other payables
Trade and	180
other receivables
other receivables
229	Other liabilities 129
Inventories
195
PPE, Goodwill Intangible assets 344	Equity 825
Other assets
260

Cash and cash equivalents 217	Borrowings 52 Trade and other payables 189
Trade and
Trade and
other receivables	Other liabilities
233	148
233
Inventories
210
PPE, Goodwill intangible assets 363	Equity 928
Other assets
293

Assets	+39	Increase in cash and cash equivalents
Assets	+19	Increase in property, plant and equipment due to expanded capital expenditure
Liabilities	+19	Increase in other liabilities mainly due to an increase in income taxes payable
	+74	Increase in retained earnings
Equity		Increase in other components of equity due to rising share prices and the depreciation of yen
	+49

Assets Liabilities/Equity Assets Liabilities/Equity

011

FY2024 Year-end FY2025 Year-end

‌Forecast for the Fiscal Year Ending March 31, 2027

012

‌Financial results forecast

（Unit：Million yen, ％）

		FY2025		FY2026
		Result	Forecast	Chan	ge
Revenue		119,257	120,000	+742	+0.6%
Core Operating Profit		9,551	9,600	+48	+0.5%
Operating Profit		12,073	11,000	(1,073)	(8.9)%
Profit attributable to owners of parent		10,568	8,000	(2,568)	(24.3)%

Capital Expenditure		7,089	8,000	+910	+12.8%
Depreciation and amortization		5,450	5,600	+149	+2.7%

	U S D	151.06	150.00	-	-
Exchange rate	T H B	4.68	4.65	-	-
	C N Y	21.35	21.50	-	-

※The consolidated financial results forecast for the fiscal year does not reflect the impact of the situation in the Middle East.

013

‌Engagement for Mid-to Long-Term Management Plan

"Creating New Value for the Future" 1st Stage

014

‌Overview of Mid-to Long-Term Management Plan

FY2023

CV-1

FY2026

FY2027

CV-2

FY2030

FY2050

Vision 2050 Best Partner,supporting people and society,connecting the present and future

Creating New Value for the Future

Vision

Medium-to-long term strategy

Creation of value

Evolution of new businesses and deepening of core businesses, accelerated by joint creation

Creation of smart manufacturing Preparing for the Bando Dream Factory of the future

Evolution of organizational

capabilities for the future

Laying down the groundwork to support evaluation

GUIDELINE1 GUIDELINE2 GUIDELINE3
R e v e n u e	120 billion yen
Core Operating Profit	12 billion yen
ＲＯＥ	12%

Creation of value

Toward an optimum business portfolio

Achieving the Bando Dream Factory model line

Safe, secure, and environmentally friendly manufacturing

Joint creation New businesses Core businesses

The Bando Dream Factory's

global expansion

Obtaining an overwhelming competitive edge

Reduction of CO2 emissions by 38%（compared to FY2013 levels）

Non-financial Indicators

Medium-to lo ls

ng term goa

Evolution of organizational capabilities for the future

We are continuously evolving

015

Achieving carbon neutrality

Toward sustainable growth

‌Strengthening Profitability①

Automotive Parts

Sales expansion in the global aftermarket

Business expansion in the personal mobility market

Promote sales expansion in key
regions such as India
Expand sales of products for EVs
Expand sales of high-load double cog belts for ATVs and UTVs expanded
016

Industrial Products

Sales expansion in the large agricultural machinery market

Deepening growth markets for synchronous belts

Expand sales of repair parts in new markets
Expand sales in key markets such as
robots and semiconductors, etc
Copyright © 2026 Bando Chemical Industries, Ltd. All Rights Reserved.

‌Strengthening Profitability②

Advanced Elastomer Products

Sales expansion of decorative films with low environmental impact and superior design

Deepening growth markets for synchronous belts

Further expand sales of decorative film by leveraging design capabilities
Expand sales in key markets such as robots and semiconductors, etc
017

Other Business

Commercialization of the Electronic Products Business

Continuous launch into the medical and healthcare device market

Expand sales of precision abrasive "TOPX
Promote development of thermal management products for semiconductor markets, etc
Further expand sales of resorbable bone regeneration material "e=Bone "

Copyright © 2026 Bando Chemical Industries, Ltd. All Rights Reserved.

‌Improve Capital Efficiency
Basic Policy
The Company's basic policy of shareholder returns is to endeavor to enhance returns, with dividends as the foundation, considering consolidated earnings and financial position. The target annual dividends amount has been set at ¥26 or a consolidated dividend payout ratio 50%,whichever is higher. In addition, the Company will consider agile acquisition of treasury shares, comprehensively
taking into account its medium- to long-term investment plan, market environment and capital conditions.
Engagement
Annual dividend per share for the fiscal year ended March 31, 2026 is planned to be ¥120, including commemorative dividend of
¥20 for the Company's 120th anniversary of founding
Annual dividend per share for the fiscal year ending March 31, 2027 is expected to be ¥100, equivalent to the ordinary dividend for the previous fiscal year
Resolved the acquisition of treasury shares in the stock market（Max 1.3 Million Shares, ¥2 Billion, From May 15, 2026 to
April 30, 2027）
Dividends per share Total shareholder returns
（Unit：Yen）
（Unit：Million yen）
100

100

2,000

815

1,000

4,075

1,790

2,274

3,109

3,198

4,091

FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026

Ordinary dividend

Commemorative dividend

(Forecast)

Ordinary dividend Commemorative dividend (Forecast)

Acquisition of treasury shares

Note: The above amount is after elimination of dividends paid to BIP trusts.

018

‌ESG initiatives

Improving engagement

Certified as a "Health & Productivity Management Outstanding Organization 2026(Large Enterprise Category)"
Selected as a constituent of the FTSE Blossom Japan Index and the FTSE Blossom Japan Sector Relative Index

019

Facing climate change risks and contributing to social development

Sequentially introduce solar power generation systems, energy-saving equipment, etc.in Japan and overseas
Plan to newly establish a Group-wide CO₂ reduction target, in addition to the CO₂ reduction target on a non-consolidated basis

Bando Manufacturing (Vietnam) Co., Ltd.

‌Appendix

020

‌Quarterly Operating Results for Automotive Parts

（Unit：Million Yen） 18,000

16,000

14,946

14,311 14,704 14,094 14,626

14,854 15,297 15,618

16%

14%

14,000

12,000

10,000

8,000

6,000

13,418 13,374 13,637

12,849

8.6% 8.3%

7.5%

6.3%

7.6%

9.4%

6.6%

10.3%

8.1%

8.4%

10.7% 10.3%

12%

10%

4,000

2,000

811 1,008

1,153 1,137

1,130

1,340 975

1,450

1,178

1,253

1,641 1,608 2%

021

Revenue Segment profit Profit ratio

Q1 Q2 Q3 Q4 FY2023

Q1 Q2 Q3 Q4 FY2024

Q1 Q2 Q3 Q4 FY2025

‌Quarterly Operating Results for Industrial Products

（Unit：Million Yen）

12,000

10,000

8,000

9,142 9,373

10.6%

8,749

9,403 9,659 9,605 9,386 9,442 9,495

10,236

9,675 9,399

15%

6,000

4,000

9.9%

9.3%

8.4%

6.9%

7.1%

6.4%

6.2%

7.4%

9.4%

8.7%

8.0%

10%

2,000

968

928

810

786 671 677

603

589

706

965 838

754

0 0%

Revenue Segment profit Profit ratio

Q1 Q2 Q3 Q4 FY2023

Q1 Q2 Q3 Q4 FY2024

Q1 Q2 Q3 Q4 FY2025

022

‌Quarterly Operating Results for Advanced Elastomer Products

3,406 3,375

（Unit：Million Yen） 4,500

15.0%

3,500

3,524 3,461 3,564 3,506 3,689 3,456 3,593 3,521 3,666 3,635

10.0%

2,500

1,500

-1.3%

-0.9%

-0.1%

-2.1%

1.2%

-1.5% -1.1%

1.1%

2.2%

2.9%

1.8%

5.1%

5.0%

0.0%

500

(500)

(46) (29) (4) (70)

(54) (40)

36 78 61 105 186

-5.0%

-10.0%

Revenue Segment profit Profit Ratio

Q1 Q2 Q3 Q4 FY2023

Q1 Q2 Q3 Q4 FY2024

Q1 Q2 Q3 Q4

FY2025

023

‌This document contains descriptions of future performance. Such descriptions do not guarantee future performance and are subject to risks and uncertainties. Please note that future performance may differ from actual results due to changes in the business environment.

Additionally, this document is provided for information purposes only and is not intended to solicit transactions.

024

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