Financial Result[PDF : 354KB]

About this update from Toho Gas Co., Ltd.

Note: This document has been translated from 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. Consolidated Financial Results October 28, 2025 for the Six Months Ended September 30, 2025 (2Q FY2025) (Under Japanese GAAP) Toho Gas Co., Ltd. Code No.: 9533 (URL https://www.tohogas.co.jp/ ) Representative: Satoshi Yamazaki, Representative Director, President Contact: Yutaka Katahira, General Manager of Finance Dept Tel: +81-52-872-9341 Date of filing semi-annual securities report: November 13, 2025 Commencement of dividend payments: November 28, 2025 Quarterly earnings supplementary explanatory documents: Yes Quarterly earnings presentation: Yes (for institutional investors) Shares listed on: Tokyo Stock Exchange, Nagoya Stock Exchange (Rounded down to the nearest million yen) Consolidated Results for the Six Months Ended September 30, 2025 Consolidated business results (Percentage figures indicate the percentage change on the results for the previous year) Net sales Operating income Ordinary income Net income attributable to owners of the parent (Unit: million yen) (％) (Unit: million yen) (％) (Unit: million yen) (％) (Unit: million yen) (％) April 1 – September 30, 2025 307,161 4.7 23,817 24.7 26,734 17.1 20,236 12.5 April 1 – September 30, 2024 293,404 -2.5 19,098 -33.7 22,839 -28.4 17,989 -26.9 Note: Comprehensive income 2nd Quarter ended September 2025: ¥27,157 million (167.9%), 2nd Quarter ended September 2024: ¥10,138 million (-76.3%) Net income per share Diluted earnings per share (Unit: yen) (Unit: yen) April 1 – September 30, 2025 211.84 - April 1 – September 30, 2024 174.49 - Consolidated financial position Total assets Net assets Equity ratio (Unit: million yen) (Unit: million yen) (％) 2nd Quarter ended September 2025 760,818 456,743 60.0 FY2024 ended March 2025 758,765 448,394 59.1 Reference: Net assets (excluding minority interests) 2nd Quarter ended September 2025: ¥456,743 million, FY2024 ended March 2025: ¥448,394 million Dividends Dividend per share End of 1st Quarter End of 2nd Quarter End of 3rd Quarter End of 4th Quarter Total FY2024 ended March 2025 (Unit: yen) - (Unit: yen) 40.00 (Unit: yen) - (Unit: yen) 40.00 (Unit: yen) 80.00 FY2025 ending March 2026 - 45.00 FY2025 ending March 2026 (forecasts) - 45.00 90.00 Notes: Revision of previously announced dividend forecasts: No Consolidated Results Forecast for the Year Ending March 2026 (April 1, 2025 - March 31, 2026) (Percentage figures indicate the percentage change on the results for the previous year) Net sales Operating income Ordinary income Net income attributable to owners of the parent Net income per share Full term (Unit: million yen) (％) (Unit: million yen) (％) (Unit: million yen) (％) (Unit: million yen) (％) (Unit: yen) 630,000 -4.0 27,000 -12.6 33,000 1.8 27,000 6.1 287.01 Notes: Revision of previously announced forecasts during this period: Yes Notes Changes in significant consolidated subsidiaries: No Application of accounting treatment peculiar to quarterly consolidated financial statement preparation: Yes * * For details, please refer to “3. Notes about Consolidated Statements (Application of accounting treatment specific to the preparation of quarterly consolidated financial statements)” on page 6. Changes in accounting treatment principles, changes in accounting estimates, and retrospective restatements Changes accompanied by reform of accounting standards: No Other changes: No Changes in accounting estimates: No R etrospective restatements: No Number of outstanding shares (common stock) Number of outstanding shares at the end of the term (Inclusive of treasury stock) 2nd Quarter ended September 2025 98,220,085 shares FY2024 ended March 2025 98,220,085 shares Number of treasury stock at the end of the term 2nd Quarter ended September 2025 4,146,579 shares FY2024 ended March 2025 624,242 shares Average number of outstanding shares during the term 2nd Quarter ended September 2025 95,527,068 shares 2nd Quarter ended September 2024 103,100,472 shares This report of consolidated financial results is not subject to audit. Notes on proper use of forecasts and other matters The forecasts in this document are based on the information available at the time of the release of this document. Due to various factors, the actual result may vary from the forecast data. Consolidated balance sheet (Unit: million yen) As of March 31, 2025 As of September 30, 2025 Assets Noncurrent assets Property, plant and equipment Production facilities 53,986 52,003 Distribution facilities 143,063 139,422 Service and maintenance facilities 28,197 27,492 Other facilities 52,098 52,032 Construction in progress 21,469 21,038 Total property, plant and equipment 298,815 291,988 Intangible assets 16,628 16,786 Other Total intangible assets 16,628 16,786 Investments and other assets Investment securities 170,019 188,700 Net defined benefit asset 49,111 49,799 Other 36,539 37,425 Allowance for doubtful accounts -73 -73 Total investments and other assets 255,596 275,852 Total noncurrent assets 571,040 584,627 Current assets Cash and deposits 46,749 28,326 Notes and accounts receivable and contract assets 84,610 67,720 Securities - 22,000 Inventories 28,248 27,948 Other 28,956 31,037 Allowance for doubtful accounts -839 -841 Total current assets 187,725 176,191 Total assets 758,765 760,818 (Unit: million yen) As of March 31, 2025 As of September 30, 2025 Liabilities Noncurrent liabilities Bonds payable 87,500 87,500 Long-term loans payable 43,722 40,412 Provision for gas holder repairs 688 717 Reserve for safety measures 21,699 20,333 Provision for gas appliance warranties 1,947 1,778 Net defined benefit liability 6,194 6,259 Other 28,326 32,448 Total noncurrent liabilities 190,077 189,450 Current liabilities Current portion of noncurrent liabilities 22,166 24,367 Notes and accounts payable-trade 38,563 36,980 Short-term loans payable 2,100 1,800 Income taxes payable 7,886 10,642 Other 49,576 40,834 Total current liabilities 120,293 114,625 Total liabilities 310,370 304,075 Net assets Shareholders' equity Capital stock 33,072 33,072 Capital surplus 8,387 8,389 Retained earnings 306,042 322,374 Treasury stock -2,470 -17,377 Total shareholders' equity 345,032 346,460 Other comprehensive income Valuation difference on available-for-sale securities 61,706 73,588 Deferred gains or losses on hedges 5,564 5,239 Foreign currency translation adjustment 14,559 11,010 Remeasurements of defined benefit plans 21,531 20,445 Total other comprehensive income 103,362 110,283 Total net assets 448,394 456,743 Total liabilities and net assets 758,765 760,818 Consolidated statements of income and comprehensive income, Consolidated statements of income for the Six Months (Unit: million yen) 2nd Quarter of FY2024 (April – September 2024) 2nd Quarter of FY2025 (April – September 2025) Net sales 293,404 307,161 Cost of sales 211,784 217,807 Gross profit 81,619 89,353 Selling, general and administrative expenses 62,520 65,536 Operating income 19,098 23,817 Non-operating income Interest income 591 559 Dividend income 1,510 1,928 Rent income 340 339 Miscellaneous income 2,103 1,217 Total non-operating income 4,545 4,045 Non-operating expenses Interest expenses 500 577 Miscellaneous expenses 303 551 Total non-operating expenses 804 1,128 Ordinary income 22,839 26,734 Extraordinary income 2,140 1,384 Gain on sale of investment securities Total extraordinary income 2,140 1,384 Income before income taxes 24,980 28,118 Income taxes 6,990 7,882 Net income 17,989 20,236 Net income attributable to owners of the parent 17,989 20,236 Consolidated statements of comprehensive income for the Six Months (Unit: million yen) 2nd Quarter of FY2024 (April – September 2024) 2nd Quarter of FY2025 (April – September 2025) Net income 17,989 20,236 Other comprehensive income Valuation difference on available-for-sale securities -8,637 11,881 Deferred gains or losses on hedges -2,207 -730 Foreign currency translation adjustment 3,778 -3,508 Remeasurements of defined benefit plans, net of tax -1,136 -1,080 Share of other comprehensive income of entities accounted for using equity method 351 357 Total other comprehensive income -7,850 6,920 Comprehensive income 10,138 27,157 Comprehensive income attributable to Comprehensive income attributable to owners of the parent 10,138 27,157 Comprehensive income attributable to non-controlling interests - - Notes about consolidated statements Note of going concerns’ premise: No Significant change in shareholders’ equity: Yes Purchase of treasury stock The Company repurchased its shares as follow, pursuant to Article 156 of the Companies Act as applied pursuant to Article 165, paragraph 3. The acquisition of treasury shares, which was decided at the Board of Directors meeting held on March 27, 2025, was completed with the acquisition detailed below. Types of shares repurchased Common stock Number of shares repurchased 3,544,800 shares Total value of shares repurchased 14,999 million yen Period of repurchase From April 1, 2025 to September 22, 2025 (Commitment basis) Method of repurchase Market purchase on Tokyo Stock Exchange Application of accounting treatment specific to the preparation of quarterly consolidated financial statements Calculation of tax costs Tax expenses are calculated by multiplying the quarterly net income before tax adjustment by the estimated effective tax rate for the current consolidated fiscal year. The amount of corporate tax adjustment is included in Income taxes. Segment information Segment information by category of business Six months ended September 30, 2024 (April 1 – September 30, 2024) （Unit: million yen） Business segment reported Other (Note.1) Total Adjustments (Note.2) Consolidated statements of income (Note.3) Gas sales LPG and other Energies Electricity Total Net sales (1) External customers 189,178 43,426 46,104 278,708 14,695 293,404 - 293,404 (2) Intersegment 2,347 820 170 3,338 9,948 13,287 -13,287 - Total 191,526 44,246 46,275 282,047 24,643 306,691 -13,287 293,404 Segmentincomeor loss 14,505 -80 1,282 15,707 2,423 18,131 967 19,098 Notes: 1. The “Other” segment incorporates operations not included in reported segment, including LNG processing under contract, leasing of buildings, engineering of gas production plants, CN×P business, sales of housing equipment, data processing services, other leasing business, development of and investment in natural gas resources, etc. The “Adjustments” column in “Segment income or loss” (967 million yen) denotes eliminations of intersegment transactions. Segment income or loss in the table above is reconciled to operating income on the quarterly consolidated statements of income. Six months ended September 30, 2025 (April 1 – September 30, 2025) （Unit: million yen） Business segment reported Other (Note.1) Total Adjustments (Note.2) Consolidated statements of income (Note.3) Gas sales LPG and other Energies Electricity Total Net sales (1) External customers 198,643 42,433 50,045 291,121 16,039 307,161 - 307,161 (2) Intersegment 2,282 734 166 3,183 10,875 14,059 -14,059 - Total 200,925 43,168 50,211 294,305 26,915 321,220 -14,059 307,161 Segmentincomeor loss 19,317 -458 1,242 20,102 2,905 23,007 809 23,817 Notes: 1. The “Other” segment incorporates operations not included in reported segment, including LNG processing under contract, leasing of buildings, engineering of gas production plants, CN×P business, sales of housing equipment, data processing services, other leasing business, development of and investment in natural gas resources, etc. The “Adjustments” column in “Segment income or loss” (809 million yen) denotes eliminations of intersegment transactions. Segment income or loss in the table above is reconciled to operating income on the quarterly consolidated statements of income.

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