Consolidated Financial Resultsfor the Fiscal Year Ended March 31, 2026(Under Japanese GAAP) 495KB

April 30, 2026

Company name: Fuji Nihon Corporation Listing: Tokyo Stock Exchange Securities code: 2114

URL: https://www.fuji-nihon.com

Representative: Hidetoshi Soga President and Chief Executive Officer

Department

Inquiries: Keiichiro Miyata Executive Officer, General Manager, Planning & Administrative

Telephone: +81-3-3667-7811

Scheduled date of annual general meeting of shareholders: June 23, 2026 Scheduled date to commence dividend payments: June 8, 2026 Scheduled date to file annual securities report: June 22, 2026

Preparation of supplementary material on financial results: None Holding of financial results briefing: None

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

1. Consolidated financial results for the fiscal year ended March 31, 2026 (from April 1, 2025 to March 31, 2026)
   1. Consolidated operating results (Percentages indicate year-on-year changes.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Fiscal year ended March 31, 2026 March 31, 2025	Millions of yen 28,491 28,209	% 1.0 9.0	Millions of yen 3,528 3,232	% 9.2 48.7	Millions of yen 3,742 3,651	% 2.5 14.0	Millions of yen 3,176 2,845	% 11.6 20.1

      Note: Comprehensive income	For the fiscal year ended March 31, 2026:	¥	4,898 million [	141.2%]
      	For the fiscal year ended March 31, 2025:	¥	2,030 million [	(36.5) %]

      	Basic earnings per share	Diluted earnings per share	Rate of return on equity	Ordinary profit to total assets ratio	Operating profit to net sales ratio
      Fiscal year ended	Yen	Yen	%	%	%
      March 31, 2026	61.92	-	12.3	10.3	12.4
      March 31, 2025	53.70	-	11.9	11.0	11.5

      Reference: Share of profit (loss) of entities accounted for using equity method

      For the fiscal year ended March 31, 2026:	¥	(3) million
      For the fiscal year ended March 31, 2025:	¥	187 million

      Note: We conducted a share split at a ratio of two shares for each share of common shares, effective January 1, 2026.

      Accordingly, basic earnings per share has been calculated assuming that the share split had been implemented at the beginning of the previous consolidated fiscal year.

   2. Consolidated financial position

      	Total assets	Net assets	Equity-to-asset ratio	Net assets per share
      As of March 31, 2026 March 31, 2025	Millions of yen 38,677 33,761	Millions of yen 27,900 23,874	% 72.0 70.6	Yen 543.02 464.45

      Reference: Equity

      As of March 31, 2026:	¥	27,857 million
      As of March 31, 2025:	¥	23,827 million

      Note: We conducted a share split at a ratio of two shares for each share of common shares, effective January 1, 2026.

      Accordingly, book value per share has been calculated assuming that the share split had been implemented at the beginning of the previous consolidated fiscal year.

   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 March 31, 2026 March 31, 2025	Millions of yen 3,150 3,323	Millions of yen (1,705) (1,546)	Millions of yen (931) (376)	Millions of yen 7,243 6,644

2. Cash dividends

   	Annual dividends 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
   	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
   Fiscal year ended March 31, 2025	-	15.00	-	19.00	34.00	890	31.7	3.7
   Fiscal year ended March 31, 2026	-	15.00	-	10.50	-	924	29.1	3.6
   Fiscal year ending March 31, 2027 (Forecast)	-	8.00	-	11.00	19.00		39.0
   Note: We conducted a share split at a ratio of two shares for each share of common shares, effective January 1, 2026.
   The year-end dividend per share for the fiscal year ended March 31, 2026 is presented on a basis reflecting the effect of the stock split, and
   accordingly, the total annual dividend per share is shown as "-".
   On a pre-stock-split basis, the year-end dividend per share for the fiscal year ended March 31, 2026 would be 21.00 yen, and the total annual
   dividend per share would be 36.00 yen.

   Note: Breakdown of the year-end dividend for the fiscal year ended March 31, 2026 :

3. Consolidated financial result forecasts for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027)

(Percentages indicate year-on-year changes.)

1. 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

2. Number of issued shares (common shares)

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

      As of March 31, 2026	51,437,400 shares
      As of March 31, 2025	51,437,400 shares

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

      As of March 31, 2026	137,228 shares
      As of March 31, 2025	134,968 shares

   3. Average number of shares outstanding during the period

1. Non-consolidated operating results (Percentages indicate year-on-year changes.)

   	Net sales		Operating profit		Ordinary profit		Profit
   Fiscal year ended March 31, 2026 March 31, 2025	Millions of yen 16,020 16,198	% (1.1) 1.6	Millions of yen 1,916 1,946	% (1.5) 33.0	Millions of yen 2,411 2,377	% 1.4 (7.8)	Millions of yen 2,125 1,797	% 18.3 (2.2)

   	Basic earnings per share	Diluted earnings per share
   Fiscal year ended	Yen	Yen
   March 31, 2026	41.44	-
   March 31, 2025	33.92	-

2. Non-consolidated financial position

   	Total assets	Net assets	Equity-to-asset ratio	Net assets per share
   As of March 31, 2026 March 31, 2025	Millions of yen 28,178 25,259	Millions of yen 22,667 20,041	% 80.4 79.3	Yen 441.87 390.65

   Reference: Equity

   As of March 31, 2026:	¥	22,667 million
   As of March 31, 2025:	¥	20,041 million

   • Financial results reports are exempt from audit conducted by certified public accountants or an audit firm.

   • Proper use of earnings forecasts, and other special matters

     (Caution concerning forward-looking statements)

     Business forecasts and other forward-looking statements contained in this report and supplementary materials are based on information

     currently available to the Company and on certain assumptions deemed as rational and are not intended to guarantee the achievements

     by the Company. Actual results may differ significantly from such forecasts due to various factors. For the conditions that form the basis for

     the performance forecast and notes on the use of the performance forecast, please refer to 1. Overview of Financial Results (4) Explanation

     of Forward-Looking Information Including Consolidated Financial Forecast" on page 4 of the Appendix.

     (Change in Unit of Amounts Presented)

     Amounts for items and other matters presented in the Company's quarterly consolidated financial statements had previously been stated in units of thousands of yen. However, from the current consolidated fiscal year, these amounts are now stated in units of millions of yen.

     For ease of comparison, the figures for the previous consolidated fiscal year has also been restated in millions of yen.

     • Appendix

   1. Overview of Financial Results ………………………………………………………………………………………… 2

      1. Overview of Operating Results for the Fiscal Year …………………………………………………………….. 2

      2. Overview of Financial Position for the Current Fiscal Year …………………………………………………….. 3

      3. Overview of Cash Flows for the Fiscal Year ……………..………………………………………………………. 3

      4. Future Outlook 4

   2. Basic Policy on Selection of Accounting Standards ………………………………………………………………… 4

   3. Consolidated Financial Statements and Significant Notes ………………………………………………………… 5

      1. Consolidated Balance Sheets …………………………………………………………………………………....... 5

      2. Consolidated Statements of Income and Comprehensive Income …………………………………………..... 7

         Consolidated Statements of Income ………………………………………………………...………..…....... 7

         Consolidated Statements of Comprehensive Income …………………………………………….…....…... 8

      3. Consolidated Statements of Changes in Equity …………………………………………................................... 9

      4. Consolidated Statements of Cash Flows ………………………………………….............................................. 13

      5. Notes to Consolidated Financial Statements …………………………………………...................................... 15

(Notes on Going Concern Assumption) ………………………………………………………………….…….. 15

(Changes in Accounting Policies) ……………………..…………………………………………………..……. 15

(Additional Information) 15

(Segment Information) …………………………………………………………………..…................................ 15

(Per Share Information) …………………………………………………..…..................................................... 20

(Significant Subsequent Events) ………………………………………………………………………..……..... 20

1. Overview of Financial Results

1. Overview of Operating Results for the Fiscal Year

   During the current consolidated fiscal year, the Japanese economy continued a moderate recovery trend, supported by improvements in employment and income conditions. Meanwhile, living costs have remained elevated due to rising prices and fluctuations in exchange rates. In addition, the global economic uncertainty has persisted due to prolonged situation in Ukraine and the escalation of conflicts in the Middle East, followed uncertainty surrounding resource and energy prices with crude oil prices rising.

   Amid such conditions, in April 2024, our Group formulated the medium-term management plan CHANGE 2028, which sets out five key themes: 1. Business expansion in Southeast Asia, 2. Creation of food science business, 3. Growth investment centered on M&A, 4. Building a strong organization to realize our vision, and 5. Enhancement of IR and shareholder returns. The plan has made a steady start to a solid start and is progressing steadily.

   For the consolidated fiscal year, net sales were ¥28,491 million (up 1.0% year-on-year), operating profit was ¥3,528million (up 9.2%), ordinary profit was ¥3,742 million (up 2.5%) and profit attributable to owners of parent was ¥3,176 million (up 11.6%), resulting in increased revenue and increased profit.

   The performance by segment is as follows. Note that the Company implemented organizational changes on April 1, 2025, and changed its management classification. Accordingly, from the beginning of the current consolidated fiscal year, the business operated by FUJI NIHON (Thailand) Co., Ltd., which was previously included in the Other segment, has been transferred to the Functional Food Materials segment. In addition, from the beginning of the current consolidated fiscal year, the segment name has been changed from Sugar Refining to Sugar. Segment comparison information has been prepared using figures reclassified according to the new segment categories after the above segment changes. For details on reportable segments, please refer to "3. Consolidated Financial Statements and Significant Notes (5) Notes to Consolidated Financial Statements (Notes on Segment Information).

   1. Sugar Business

      The overseas sugar market started at 18.89 cents per pound and immediately rose to the mid-19-cent range due to drought conditions in Brazil. Thereafter, prices trended downward to the mid-15-cent range reflecting global trade conflict and projection of increasing sugar supply. Subsequently, in the absence of significant positive factors, the market remained weak, amid upward revisions to production outlooks in major producing countries such as India and Thailand, as well as the appreciation of the U.S. dollar and a decline in crude oil prices. Consequently, prices remained within a narrow range of approximately 15 cents toward the end of the year.

      The domestic sugar product market opened with the Tokyo spot market price (as published in the Nikkei) at 249-251 yen per kilogram for large bags of refined sugar. However, prices were revised downward to a range of ¥241 to ¥253 per kilogram (for large bags of refined white sugar; small packages excluded) in November for the first time in approximately seven years. The Osaka Expo contributed to an increase in the number of inbound visitors, and sales for foodservice-related use and confectionery products, including souvenirs, remained strong, supported by inbound demand. While sales of beverages and dairy products were sluggish towards the year-end due to weakened consumer sentiment, sales increased compared with the same period of the previous year.

      Although the company worked to enhance customer satisfaction by ensuring stable supply of products through rigorous quality control and promoted steady raw material procurement while striving to reduce costs. rising raw material and logistics costs put pressure on margins. As a result, the Sugar segment recorded net sales of ¥13,493 million (down 2.3% year-on-year) and operating profit of ¥2,479 million (down 2.0%), resulting in decreases in both revenue and profit.

   2. Functional Materials

      Domestic sales of the functional food ingredient "inulin" recorded a year-on-year increase driven by sales targeting health functional claims, despite a decline in demand for processed food applications due to higher prices of imported raw materials and exchange rate fluctuations. At consolidated subsidiary Fuji Nihon Thai Inulin Co., Ltd. sales to major users in Thailand and other Southeast Asian countries increased. Although purchasing adjustments were made due to major customers reaching their contract renewal periods, the subsidiary recorded substantial year-on-year growth. At the subsidiary Unitec Foods Co., Ltd., sales volumes increased mainly for collagen products, and as the ODM and consulting businesses expanded steadily, the subsidiary recorded increases in both net sales and profits.

      As a result, the Functional Materials segment recorded net sales of ¥14,121 million (up 4.7% year-on -year) and operating profit of

      ¥1,644million (up 28.0%), resulting in increases in both revenue and profit.

   3. Real Estate

Although Toyoko INN Kayabacho Station was constructed on the former head office site in September 2023 and commenced leasing, contributing to revenue, as a result of the sale and disposal of three properties located in Tokyo, Kanagawa Prefecture, and Nagano Prefecture in the fourth quarter of the fiscal year ended March 31, 2025, as part of initiatives to improve asset efficiency. As a result, the Real Estate segment recorded net sales of ¥632 million (down 3.0% year-on -year) and operating profit of ¥579 million (down 0.0%), resulting in decreases in both revenue and profit.

2