Fuyo General Lease : Consolidated Financial Results for the Three Months Ended June 30, 2025 (Under Japanese GAAP)

(Member of Financial Accounting

Standards Foundation)

July 31, 2025

Company name: Fuyo General Lease Co., Ltd. Listing: Tokyo Stock Exchange Securities code: 8424

URL: https://www.fgl.co.jp/

Representative: Hiroaki Oda, Representative Director, President & CEO

Inquiries : Takashi Tomita, Managing Executive Officer Telephone: +81-3-5275-8800 Scheduled date to commence dividend payments : －

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

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

1. Consolidated financial results for the three months ended June 30, 2025 (from April 1, 2025 to June 30, 2025)
   1. Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Three months ended	(¥ millions)	%	(¥ millions)	%	(¥ millions)	%	(¥ millions)	%
      June 30, 2025	172,457	6.9	15,255	2.0	18,644	14.2	13,291	33.5
      June 30, 2024	161,347	2.6	14,949	22.1	16,325	18.0	9,952	6.5

      Note: Comprehensive income For the three months ended June 30, 2025: ¥ 5,754 million (61.4)% For the three months ended June 30, 2024: ¥ 14,897 million (13.1)%

      	Basic earnings per share	Diluted earnings per share
      Three months ended	(¥)	(¥)
      June 30, 2025	147.41	147.23
      June 30, 2024	110.27	110.04

      Note: On April 1, 2025, the Company conducted a 3-for-1 stock split of its common stock. Accordingly, "Basic earnings per share" and "Diluted earnings per share" are calculated on the assumption that the stock split was conducted at the beginning of the previous fiscal year.

   2. Consolidated financial position

   	Total assets	Net assets	Shareholders' equity ratio	Net assets per share
   As of	(¥ millions)	(¥ millions)	%	(¥)
   June 30, 2025	3,595,744	529,570	13.2	5,247.67
   March 31, 2025	3,567,110	531,213	13.3	5,269.74

   Reference: Shareholders' equity

   As of June 30, 2025 ¥ 473,218 million As of March 31,2025 ¥ 475,365 million

   Note: On April 1, 2025, the Company conducted a 3-for-1 stock split of its common stock. Accordingly, "Net assets per share" is calculated on the assumption that the stock split was conducted at the beginning of the previous fiscal year.

2. Cash dividends

   	Annual dividends per share
   	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Total
   FY2024 FY2025	(¥) - -	(¥) 225.00	(¥) -	(¥) 230.00	(¥) 455.00
   FY2025(Forecast)		79.00	-	79.00	158.00

   Note: Revisions to the forecast of cash dividends most recently announced: None

   On April 1, 2025, the Company conducted a 3-for-1 stock split of its common stock. "Fiscal Year Ended March 31, 2025" shows the actual dividend amount before the stock split.

3. Forecast for Fiscal 2025 (April 1, 2025 - March 31, 2026)

   (Percentage figures represent comparisons with fiscal 2024 full-year results)

   	Operating profit		Ordinary profit		Profit attributable to owners of parent		Basic earnings per share
   Full year	(¥ millions) 66,000	% 1.9	(¥ millions) 70,000	% 1.4	(¥ millions) 46,000	% 1.6	(¥) 509.94

   Note: No changes were made to the most recently announced earnings forecasts.

   On April 1, 2025, the Company conducted a 3-for-1 stock split of its common stock. "Basic earnings per share" in the consolidated earnings forecast for the fiscal year ending March 31, 2026 takes into account the effect of this stock split.

   *Notes

   1. Significant changes in the scope of consolidation during the period: None

   2. Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None

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

      (ｉ) Changes in accounting policies due to revisions to accounting standards and other regulations: None

      1. Changes in accounting policies due to other reasons: None

      2. Changes in accounting estimates: None

      3. Restatement: None

   4. Number of issued shares (common shares)

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

   As of June 30, 2025 90,863,430 shares As of March 31, 2025 90,863,430 shares

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

   As of June 30, 2025 686,500 shares As of March 31, 2025 656,730 shares

3. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

Three months ended June 30, 2025 90,166,253 shares

Three months ended June 30, 2024 90,255,822 shares

Note: On April 1, 2025, the Company conducted a 3-for-1 stock split of its common stock. Accordingly, "Total number of issued shares at the end of the period," "Number of treasury shares at the end of the period," and "Average number of shares outstanding during the period" are calculated on the assumption that the stock split was conducted at the beginning of the previous fiscal year.

The Company has introduced Board Benefit Trust (BBT). Number of treasury shares includes the following Company's shares held by Board Benefit Trust (BBT) 481,200 shares as of June 30, 2025 and 510,600 shares as of March 31, 2025. Furthermore, treasury shares that are deducted in the calculation of the average number of shares during the period include the following Company's shares held by Board Benefit Trust (BBT) 490,923 shares for the three months ended June 30, 2025 and 393,771 shares for the three months ended June 30, 2024.

• Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None

• Proper use of earnings forecasts, and other special matters (Caution Concerning Forward-Looking Statements)

Earnings forecasts and other forward-looking statements in this report are based on certain assumptions

that are deemed reasonable and information available to the Company at the time of this report's preparation. Therefore the Company does not guarantee the achievement of any projections. Actual results may differ significantly from these forecasts for a number of reasons.

(Method of Obtaining Supplementary Explanation Materials)

The materials are disclosed on the Timely Disclosure network (TDnet) on the same day as the date of this report.

1. Review of consolidated operating results

   1. Analysis of operating results for the period

      Newly executed contract volume in the three months ended June 30, 2025 totaled ¥499,593 million, up 19.3% year on year.

      In terms of profits, the Company reported net sales of ¥172,457 million, up 6.9% year on year, operating profit of ¥15,255 million, up 2.0% year on year, ordinary profit of ¥18,644 million, up 14.2% year on year, and profit attributable to owners of parent of ¥13,291 million, up 33.5% year on year.

      Operating profit, ordinary profit and profit attributable to owners of parent all rose year on year, updating its respective record high for a three-month period.

      In addition, ordinary profit, which is set as a management goal in the medium-term management plan, has been the highest for a three-month period for nine consecutive years since the fiscal year ended March 31, 2018.

      Operating results for each business segment are as follows. Please note that net sales for each segment are "revenues from external customers" and segment profit is the amount shown in reportable segments.

      Lease and Installment Sales

      Newly executed contract volume in the Lease and Installment Sales segment fell 2.8% year on year to ¥128,675 million and segment operating assets decreased 1.0% from the end of the previous fiscal year to ¥1,910,515 million. Segment net sales increased 5.2% year on year to ¥147,489 million and segment profit decreased 7.8% year on year to ¥10,843 million.

      Financing

      Newly executed contract volume in the Financing segment rose 29.5% year on year to ¥370,797 million, and segment operating assets increased 3.6% from the end of the previous fiscal year to

      ¥1,150,017 million. Segment net sales rose 30.3% year on year to ¥10,331 million, and segment profit increased 34.4% year on year to ¥6,240 million.

      Other

      Newly executed contract volume in the Other segment rose 75.9% year on year to ¥119 million, and segment operating assets decreased 2.0% from the end of the previous fiscal year to ¥32,190 million. Segment net sales rose 11.1% year on year to ¥14,635 million, and segment profit increased 11.8% year on year to ¥2,459 million.

   2. Analysis of financial position for the period

      As of June 30, 2025, operating assets totaled ¥3,092,723 million, up 0.7% from the end of the previous fiscal year. Total assets amounted to ¥3,595,744 million, up 0.8% from the end of the previous fiscal year.As of June 30, 2025, indirect procurement decreased 2.6% from the end of the previous fiscal year to ¥2,030,506 million, mainly due to a decrease in short-term borrowings, and direct procurement increased 12.7% from the end of the previous fiscal year to ¥815,704 million, mainly due to the issuance of commercial papers. As a result, the outstanding balance as of June 30, 2025 increased 1.4% from the end of the previous fiscal year to ¥2,846,211 million. The direct procurement ratio was 28.7%, an increase of 2.9 points from the end of the previous fiscal year.

      Total shareholders' equity rose 1.6% from the end of the previous fiscal year to ¥390,134 million mainly due to an increase in retained earnings. Total net assets as of June 30, 2025 amounted to

      ¥529,570 million, down ¥1,643 million, or 0.3%, from the end of the previous fiscal year. Shareholders' equity ratio was 13.2%, a decrease of 0.1 points from the end of the previous fiscal year.

   3. Explanation of consolidated earnings forecasts and other forward-looking statements

No revisions have been made to the consolidated earnings forecasts for the Forecast for Fiscal 2025 announced in Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 on May 9, 2025.