Daihatsu Infinearth Mfg : FY 2026 The Third Quarter Financial Results (full text)

January 29, 2026

Company name: DAIHATSU INFINEARTH MFG.CO.,LTD.

Stock exchange listing: Tokyo Stock Exchange Code number: 6023

URL: https://www.d-infi.com Representative: Yoshinobu Hotta, President

Contact: Takashi Mizushina, Managing Director Phone: +81-6-6454-2331

Scheduled date of commencing dividend payments: -

Availability of supplementary briefing material on financial results: Available Schedule of financial results briefing session: Not scheduled

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Nine Months Ended December 31, 2025 (April 1, 2025 to December 31, 2025)

   1. Consolidated Operating Results (% indicates changes from the previous corresponding period.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Nine months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
      December 31, 2025	61,182	(4.4)	4,566	(21.7)	4,859	(20.4)	3,701	(14.1)
      December 31, 2024	63,978	10.7	5,830	173.9	6,106	169.7	4,306	62.8

      (Note) Comprehensive income: Nine months ended December 31, 2025: 3,772 million yen [(15.1)%]

      Nine months ended December 31, 2024: 4,442 million yen [56.0%]

      	Basic earnings per share	Diluted earnings per share
      Nine months ended	Yen	Yen
      December 31, 2025	145.62	-
      December 31, 2024	135.99	-

   2. Consolidated Financial Position

   	Total assets	Net assets	Equity ratio
   As of December 31, 2025 As of March 31, 2025	Million yen 101,847 96,107	Million yen 46,477 44,206	% 45.6 45.9

   (Reference) Equity: As of December 31, 2025: 46,417 million yen

   As of March 31, 2025: 44,153 million yen

2. Dividends

   	Annual dividends
   	1st quarter-end	2nd quarter-end	3rd quarter-end	Year-end	Total
   Fiscal year ended March 31, 2025	Yen -	Yen 0.00	Yen -	Yen 62.00	Yen 62.00
   Fiscal year ending March 31, 2026	-	0.00	-
   Fiscal year ending March 31, 2026 (Forecast)				62.00	62.00

   (Note) Revision to the forecast for dividends announced most recently: None

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2026 (April 1, 2025 to March 31, 2026)

(% indicates changes from the previous corresponding period.)

(Note) Revision to the financial results forecast announced most recently: None

1. Significant changes in the scope of consolidation during the period: No

2. Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: No

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

   1. Changes in accounting policies due to the revision of accounting standards: No

   2. Changes in accounting policies other than 1) above: No

   3. Changes in accounting estimates: No

   4. Retrospective restatement: No

4. Total number of issued shares (common shares)

   1. Total number of issued shares at the end of the period (including treasury shares): December 31, 2025: 31,850,000 shares

      March 31, 2025: 31,850,000 shares

   2. Total number of treasury shares at the end of the period: December 31, 2025: 6,418,525 shares

      March 31, 2025: 6,450,625 shares

   3. Average number of shares during the period:

Nine months ended December 31, 2025: 25,418,869 shares

Nine months ended December 31, 2024: 31,668,109 shares

• Review of the Japanese-language originals of the attached quarterly consolidated financial statements by a certified public accountant or audit corporation: None

• Explanation of the proper use of financial results forecast and other notes

The financial results forecasts and other forward-looking statements herein are based on information and certain assumptions deemed reasonable as of the date of publication of this document. Actual results may differ significantly from these forecasts due to a wide range of factors. Please refer to “Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information” on page 3 of the attached material for the assumptions the financial results forecasts are based on, and notes on their use.

Table of Contents

1. Summary of Operating Results, etc 2

   1. Summary of Operating Results for the Period under Review 2

   2. Summary of Financial Position for the Period under Review 3

   3. Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information 3

2. Quarterly Consolidated Financial Statements and Primary Notes 4

   1. Quarterly Consolidated Balance Sheets 4

   2. Quarterly Consolidated Statements of Income and Comprehensive Income 6

   3. Notes to the Quarterly Consolidated Financial Statements 8

      (Notes on going concern assumption) 8

      (Notes in the case of significant changes in shareholders’ equity) 8

      (Notes on consolidated statements of cash flows) 8

      (Segment information, etc.) 9

3. Supplementary Information 10

   1. Status of Production, Orders Received, and Sales 10

1. Summary of Operating Results, etc.

   1. Summary of Operating Results for the Period under Review

      During the nine months under review (from April 1, 2025 to December 31, 2025), the Japanese economy continued to show a weak recovery in consumer spending due to soaring commodity prices and foreign exchange rate fluctuations, while improvements in employment conditions and income levels underpinned the domestic economy.

      Looking at the world economy, a gradual recovery trend was seen overall, underpinned by improvements in income environments and financial policies in each country. However, the economic outlook remained uncertain due to prolonged stagnant real estate market conditions and a delayed recovery in domestic demand in China, as well as persisting uncertainties, such as developments in trade policies, including those of the United States and China, and geopolitical risks in various regions.

      In the shipbuilding and maritime industry, the primary industry in which the Company makes its sales, the development and shipbuilding of new vessels continued to advance mainly for replacing aging vessels and responding to the strengthened environmental regulations. In such a situation, shipyards in Japan and overseas have ensured a high level of work on hand, driven by continued solid global demand for marine logistics and ongoing demand for new vessels, including next-generation fuel vessels.

      Under such a corporate environment, the Group’s sales decreased year on year, resulting from a decline in average selling price due to an increase in the sales composition ratios of small- and medium-sized engines mainly for bulk carriers and tankers, despite continued solid sales of maintenance services.

      Orders for large-sized engines and dual fuel engines mainly for container vessels significantly increased, as well as those for small- and medium-sized engines mainly for bulk carries and tankers grew, and the order backlog remained at a level significantly above that of the same period of the previous fiscal year.

      With a view to future growth, the Group continues to systematically implement capital investments with the aim of developing engines that are compatible with next-generation fuels and building a production system, and works to strengthen sustainable revenue base by ensuring profitability through efforts to improve production efficiency and strengthen cost competitiveness.

      As a result, net sales for the nine months under review decreased by 4.4% year-on-year to 61,182 million yen. In terms of profit, operating profit decreased by 21.7% year-on-year to 4,566 million yen, ordinary profit decreased by 20.4% year-on-year to 4,859 million yen, and profit attributable to owners of parent decreased by 14.1% year-on-year to 3,701 million yen.

      Performance by business segment of the Company and the consolidated Group are as follows.

      1. Marine-use

         Net sales decreased by 4.0% year-on-year to 53,073 million yen and segment income decreased by 3.1% year-on-year to 7,397 million yen, due to an increase in the sales composition ratios of small- and medium-sized engines and other factors despite an increase in maintenance-related sales.

      2. Land-use

         Net sales decreased by 16.3 % year-on-year to 4,677 million yen and segment loss of 65 million yen was recorded (segment income of 503 million yen in the previous corresponding period) due to a decrease in sales of engines, deterioration of the profitability, and other factors.

         Consequently, net sales for the segment decreased by 5.1 % year-on-year to 57,750 million yen, and segment income decreased by 9.9 % year-on-year to 7,332 million yen.

         1. Industrial machinery-related

            In the aluminum wheel division, net sales increased due to an increase in sales volume while segment income decreased.

         2. Real estate leasing-related

            In real estate leasing-related, net sales decreased slightly while segment income increased.

         3. Electricity sales-related

            In electricity sales-related, net sales increased while segment income decreased.

         4. Precision parts-related

         In precision parts-related, net sales increased while segment income decreased.

         Consequently, net sales for the segment increased by 10.4 % year-on-year to 3,432 million yen, and segment income decreased by 23.0 % year-on-year to 286 million yen.

   2. Summary of Financial Position for the Period under Review

      In assets as of the end of the third quarter under review, cash and deposits increased by 904 million yen from the end of the previous fiscal year, and inventories rose by 5,602 million yen from the end of the previous fiscal year. Property, plant and equipment increased by 4,422 million yen from the end of the previous fiscal year, along with the construction of additional facilities at the Himeji Factory to manufacture engines that are compatible with next-generation fuels and other factors. Meanwhile, due to progress made in collection of trade receivables at the end of the previous fiscal year, notes and accounts receivable - trade, and contract assets decreased by 6,330 million yen. As a result, total assets increased by 5,739 million yen from the end of the previous fiscal year to 101,847 million yen.

      In liabilities, notes and accounts payable - trade and electronically recorded obligations - operating in total increased by 1,694 million yen from the end of the previous fiscal year. Other items under current liabilities increased by 4,455 million yen mainly due to an increase in advances received. Meanwhile, accrued expenses decreased by 954 million yen, income taxes payable decreased by 887 million yen, and provision for bonuses decreased by 637 million yen. As a result, total liabilities increased by 3,468 million yen from the end of previous fiscal year to 55,369 million yen.

      In net assets, retained earnings increased by 2,126 million yen from the end of previous fiscal year to 51,425 million yen. As a result, total net assets increased by 2,270 million yen from the end of the previous fiscal year to 46,477 million yen. The equity ratio at the end of the third quarter under review decreased by 0.4 points from the end of the previous fiscal year to 45.6 %.

   3. Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information

   As to the consolidated financial results forecast for the fiscal year ending March 31, 2026, no revisions have been made to the forecast announced on October 23, 2025.

   The forecasts stated herein are based on information available to the Company as of the date of publication of this document. Actual results may differ from these forecasts due to a wide range of factors that may arise in the future.

2. Quarterly Consolidated Financial Statements and Primary Notes

   1. Quarterly Consolidated Balance Sheets

      (Million yen)

      As of March 31, 2025 As of December 31, 2025

      Assets

      Current assets

      Cash and deposits 21,521 22,426

Liabilities

(Million yen) As of March 31, 2025 As of December 31, 2025

Current liabilities

Electronically recorded obligations - operating 6,707 7,750

Lease liabilities 60 41

Provision for bonuses 1,286 649

Other 6,462 10,917

Accrued expenses 6,291 5,337

Non-current liabilities

Total current liabilities 31,722 38,035

Long-term borrowings 10,485 7,199

1. Quarterly Consolidated Statements of Income and Comprehensive Income

   Quarterly Consolidated Statements of Income For the nine months ended December 31		(Million yen)
   	For the nine months ended December 31, 2024	For the nine months ended December 31, 2025
   Net sales	63,978	61,182
   Cost of sales	48,508	46,607
   Gross profit	15,470	14,575
   Selling, general and administrative expenses
   Selling expenses	6,959	6,956
   General and administrative expenses	2,680	3,052
   Total selling, general and administrative expenses	9,639	10,009
   Operating profit	5,830	4,566
   Non-operating income
   Interest income	29	31
   Dividend income	53	42
   Foreign exchange gains	138	188
   Outsourcing service income	18	55
   Reversal of allowance for doubtful accounts	0	1
   Miscellaneous income	155	109
   Total non-operating income	395	429
   Non-operating expenses
   Interest expenses	98	108
   Miscellaneous losses	21	28
   Total non-operating expenses	119	136
   Ordinary profit	6,106	4,859
   Extraordinary income
   Gain on sale of non-current assets	0	10
   National subsidies	23	-
   Total extraordinary income	24	10
   Extraordinary losses
   Loss on sale of non-current assets	-	0
   Loss on abandonment of non-current assets	35	44
   Total extraordinary losses	35	44
   Profit before income taxes	6,095	4,825
   Income taxes - current	1,181	1,169
   Income taxes - deferred	605	(52)
   Total income taxes	1,786	1,116
   Profit	4,308	3,708
   Profit attributable to non-controlling interests	2	7
   Profit attributable to owners of parent	4,306	3,701

   Quarterly Consolidated Statements of Comprehensive Income For the nine months ended December 31

   For the nine months ended December 31, 2024

   (Million yen)

   For the nine months ended December 31, 2025

   Profit 4,308 3,708

   Other comprehensive income

   Valuation difference on available-for-sale securities 60 247

Deferred gains or losses on hedges 4 (151)

Remeasurements of defined benefit plans, net of tax 12 (99)

Comprehensive income 4,442 3,772

Comprehensive income attributable to owners of parent 4,440 3,765

Comprehensive income attributable to non-controlling

interests

2

7

1. Notes to the Quarterly Consolidated Financial Statements

(Notes on going concern assumption) There is no relevant information.

(Notes in the case of significant changes in shareholders’ equity)

For the nine months ended December 31, 2025 (from April 1, 2025 to December 31, 2025) There is no relevant information.

(Notes on consolidated statements of cash flows)

Quarterly consolidated statements of cash flows are not prepared for the nine months ended December 31, 2025. Depreciation (including amortization of intangible assets) for the nine months ended December 31 is as

follows.

For the nine months ended December 31, 2024

For the nine months ended December 31, 2025

Depreciation 2,185 million yen 2,239 million yen

(Segment information, etc.)

1. Information on net sales and profit (loss) by reportable segment

For the nine months ended December 31, 2024 (from April 1, 2024 to December 31, 2024)

(Million yen)

(Notes) *1 The “Other” category is a business segment that is not included in reportable segments, and includes the industrial machinery-related business, the real estate leasing-related business, the electricity sales-related business and the precision parts-related business.

*2 The adjustment for segment income represents corporate expenses, largely consisting of selling, general and administrative expenses not attributable to the reportable segments.

*3 Segment income is adjusted with operating profit on the Quarterly Consolidated Statements of Income.

For the nine months ended December 31, 2025 (from April 1, 2025 to December 31, 2025)

(Million yen)

(Notes) *1 The “Other” category is a business segment that is not included in reportable segments, and includes the industrial machinery-related business, the real estate leasing-related business, the electricity sales-related business and the precision parts-related business.

*2 The adjustment for segment income (loss) represents corporate expenses, largely consisting of selling, general and administrative expenses not attributable to the reportable segments.

*3 Segment income (loss) is adjusted with operating profit on the Quarterly Consolidated Statements of Income.

1. Supplementary Information

1. Status of Production, Orders Received, and Sales

   For the nine months ended December 31, 2025 (from April 1, 2025 to December 31, 2025)

   1. Production

      Production by segment for the nine months ended December 31, 2025 is as follows:

      (Million yen)

      Segment	Volume
      		Amount	Year-on-year change
      	Horsepower		%
      Internal combustion engines
      Marine-use engines	783,706	53,073	(4.0)
      Land-use engines	15,866	4,677	(16.3)
      Other	-	2,960	12.2
      Total		60,710	(4.4)

      (Notes) *1 Amounts are based on sales prices.

      *2 The figures above do not include consumption taxes.

   2. Orders received

      Orders by segment for the nine months ended December 31, 2025 are as follows:

      (Million yen)

      Segment	Orders received			Order backlogs
      	Volume	Amount	Year-on-year change	Volume	Amount	Year-on-year change
      	Horsepower		%	Horsepower		%
      Internal combustion engine
      Marine-use engines	1,350,270	82,992	34.8	2,372,531	96,524	54.4
      		[57,322]			[60,457]
      Land-use engines	64,020	9,972	12.4	115,578	12,454	20.1
      		[670]			[867]
      Other	-	3,320	10.2	-	1,660	17.3
      		[-]			[-]
      Total		96,286	31.1		110,640	48.9
      		[57,992]			[61,325]

      (Notes) *1 Amounts are based on sales prices.

      *2 Figures in brackets [ ] indicate export orders received and the balance of export orders outstanding, and are included in totals.

      *3 The figures above do not include consumption taxes.

   3. Sales results

Sales by segment for the nine months ended December 31, 2025 are as follows:

(Million yen)

(Notes) *1 Figures in brackets [ ] indicate export volume, and are included in totals.

*2 Major export destinations and compositions are as follows:

Asia (70.9%), Europe (19.0%), Latin America (5.8%), North America (3.4%), Others (0.9%)

*3 The “Other” segment includes precision parts-related (2,062 million yen), industrial machinery-related (897 million yen) and real estate leasing-related (472 million yen).

*4 The figures above do not include consumption taxes.