Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (Japanese GAAP)

May 15,2025

Scheduled date of annual general meeting of shareholders: June 27, 2025 Scheduled date to commence dividend payment: June 30, 2025 Scheduled date to file annual securities report: June 23, 2025 Preparation of supplementary materials on financial results: Yes

Holding of financial results briefing: Yes For institutional investors and analysts

(Yen amounts are rounded down to the nearest millions)

1. Consolidated financial results for the Fiscal year ended March 31, 2025 (April 1, 2024 to March 31, 2025)

   1. Consolidated Operating Results (cumulative)

      (Percentage indicate year-on-year changes.)

      	Net sales		EBITDA		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
      March 31, 2025	3,028	7.8	500	△24.0	△37	-	△42	-	△39	-
      March 31, 2024	2,808	4.1	658	△3.5	176	△24.9	208	△11.6	146	△7.6

      Note: Comprehensive Income	For the fiscal year ended March 31, 2025	△39	Millions of yen	(-%)
      	For the fiscal year ended March 31, 2024	146	Millions of yen	(△7.6%)

      Note: EBITDA (operating profit+ depreciation expenses) is disclosed as a useful comparative indicator for our group's performance.

      	Basic earnings per share	Diluted earnings per share	Return on equity	Ratio of ordinary profit to total assets	Ratio of operating profit to net sales
      Fiscal year ended March 31, 2025 March 31, 2024	Yen △5.73 21.17	Yen - -	% △2.1 7.7	% △1.7 8.5	% △1.2 6.3

      Reference:

      Share of profit of entities accounted for using equity method

      For the fiscal year ended March 31, 2025 - Millions of yen

      For the fiscal year ended March 31, 2024 - Millions of yen

      Note: Diluted earnings per share is not stated since there are no dilutive shares.

   2. Consolidated Financial Position

      	Total assets	Net Assets	Equity-to-asset ratio	Net Assets per Share
      	Millions of yen	Millions of yen	%	Yen
      As of March 31, 2025	2,349	1,872	79.7	271.35
      As of March 31, 2024	2,540	1,946	76.6	282.08

      Reference: Equity	As of March 31, 2025	1,872	Millions of yen
      	As of March 31, 2024	1,946	Millions of yen

   3. Consolidated Cash Flows

   	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of period
   Fiscal year ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen
   March 31, 2025 March 31, 2024	316 618	△676 △656	△34 △34	345 739

2. Cash dividends

   	Dividend per share					Total cash dividends (Total)	Payout ratio (Consolidated)	Ratio of dividends to net assets (Consolidated)
   	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year- end	Total
   Fiscal Year Ended March 31, 2024 Fiscal Year Ended March 31, 2025	Yen - -	Yen 0.00 0.00	Yen - -	Yen 5.00 5.00	Yen 5.00 5.00	Millions of yen 34 34	% 23.6 -	% 1.8 1.8
   Forecast for Fiscal Year Ending March 31, 2026	-	0.00	-	5.00	5.00		47.3

3. Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2026 (April 1, 2025 to March 31, 2026)

(Percentage indicate year-on-year changes.)

Reference: EBITDA 681 Millions of yen (YonY +36.1%)

Note: EBITDA (operating profit+ depreciation expenses) is disclosed as a useful comparative indicator for our group's performance.

1. Changes in significant subsidiaries during the cumulative period of the fiscal year (changes in specified subsidiaries due to changes in the scope of consolidation): None

2. Changes in accounting policies, changes in accounting estimates, and restatements of accounting estimates.

   1. Changes in accounting policies due to changes in accounting standards, etc.: None

   2. Changes in accounting policies other than 1) above: None

   3. Changes in accounting estimates: None

   4. Modification and reappearance: None

3. Number of Shares Issued (Common shares)

   As of March 31,2025	7,280,700	Shares	As of March 31,2024	7,280,700	Shares
   As of March 31,2025	379,323	Shares	As of March 31,2024	379,299	Shares
   Fiscal year ended March 31,2025	6,901,380	Shares	Fiscal year ended March 31,2024	6,901,401	Shares

   1. Number of shares outstanding at the end of the fiscal year (including treasury shares)

   2. Number of treasury stock at end of period

   3. Average number of shares outstanding during the period

1. Non-consolidated Operating Results (cumulative)

   (Percentage indicate year-on-year changes.)

   	Net sales		Operating profit		Ordinary profit		Profit
   Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
   March 31, 2025 March 31, 2024	3,027 2,807	7.8 4.1	△81 144	- 13.7	△47 203	- 37.1	△43 142	- 42.0

   	Basic earnings per share	Diluted earnings per share
   Fiscal year ended	Yen	Yen
   March 31, 2025	△6.33	-
   March 31, 2024	20.62	-

2. Non-consolidated financial position

*Financial Results are not subject to Quarterly Review by Certified Public Accountants or Auditing Corporations.

(Financial results briefing For institutional investors and analysts)

Date and time: Thursday, May 15, 2025, starting at 4:00 pm JST

(Explanation: 40 minutes, Q&A: approx. 20 minutes) Method of holding: Online briefing (Zoom webinar)

Attendees: Executive Vice President and CFO Hiroyuki Shiokawa

(How to participate)

To participate, please register in advance at the URL below. After completing the registration, we will send you a viewing URL to your registered email address.

Pre-registration: https://us02web.zoom.us/webinar/register/WN_cvWYDSpHRUKCpMJpjqf15A

(IR briefing for individual investors)

Date and time: Wednesday, May 21, 2025, starting at 6:30 pm JST

(Explanation: 40 minutes, Q&A: approx. 20 minutes) Method of holding: Online briefing (Zoom webinar)

Attendees: Executive Vice President and CFO Hiroyuki Shiokawa

(How to participate)

To participate, you must register in advance by Tuesday, May 20, 2025. Please go to the pre-registration page at the URL below and fill in the necessary information. A viewing URL will be sent to your registered email address by the day before the event.

Pre-registration: https://us02web.zoom.us/webinar/register/WN_snb-gt9NTCaXpeV2787jaA