FY2025 3rd Quarter : Presentation on Financial Results (April 1, 2025 to December 31, 2025)

Published February 9, 2026 at 3:15 a.m. UTC

Source: MarketScreener

Obayashi Corporation Presentation on Financial Results for FY2025 3rd Quarter (First Nine Months) (April 1, 2025 to December 31, 2025)

February 9, 2026

PRIME 1802

Disclaimer Regarding the Appropriate Use of Financial Forecasts:

The forward-looking statements in this document, including financial forecasts, are based on information currently available to the Company and certain assumptions that the Company has

judged to be reasonable, and are not intended as a guarantee of their realization. Actual results may differ significantly from the forecasts due to various factors.

Disclaimer Regarding the Translation:

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.

INDEX

Revisions to FY2025 Full Year Forecasts

FY2025 First Nine Months Results

FY2025 Full Year Forecasts

Overview of Each Business Segment

1 Revisions to FY2025 Full Year Forecasts

Revisions to FY2025 Full Year Forecasts

1 Revisions to FY2025 Full Year Forecasts 2 3 4

We have revised the forecasts disclosed on November 5, 2025 (the "previously announced forecasts") as follows.

FY2025 Full Year Consolidated Forecasts

	Net Sales	Operating Income	Ordinary Income	Profit Attributable to Owners of Parent	Profit Attributable to Owners of Parent Per Share (EPS)	New Orders
Previously Announced Forecasts* (A)	Millions of yen 2,570,000	Millions of yen 165,000	Millions of yen 172,000	Millions of yen 149,000	Yen 214.01	Millions of yen 2,920,000
Revised Forecasts (B)	2,570,000	195,000	205,000	170,000	244.03	3,050,000
Change (B-A)	0	+30,000	+33,000	+21,000		+130,000

FY2025 Full Year Non-Consolidated Forecasts

	Net Sales	Operating Income	Ordinary Income	Profit	Profit Per Share (EPS)	New Orders
Previously Announced Forecasts* (A)	Millions of yen 1,530,000	Millions of yen 111,000	Millions of yen 154,000	Millions of yen 146,000	Yen 209.70	Millions of yen 1,653,000
Revised Forecasts (B)	1,515,000	136,000	182,000	165,000	236.85	1,653,000
Change (B-A)	(15,000)	+25,000	+28,000	+19,000		0

Reasons for the Revisions

Gross profit on completed construction contracts in the domestic building construction business increased due to factors including cost reductions, additional claim approvals, and change orders on large-scale projects as well as other projects in the final stages of the construction period.
Gross profit on completed construction contracts in the domestic civil engineering business increased due to factors including design changes on large-scale projects and an increase in net sales of completed construction contracts.
Gross profit on completed construction contracts in the overseas construction business increased due to factors including improved profitability on projects in hand.

Revisions to FY2025 Dividend Forecast

1 Revisions to FY2025 Full Year Forecasts 2 3 4

The annual ordinary dividend will be ¥87 per share, an increase of ¥5 from the previously announced forecast of ¥82, in accordance with a policy that sets a dividend on equity ratio (DOE) of around 5%.

Shareholder Returns

Total amount of dividends paid (billions of yen)

Share buyback (billions of yen) Dividends per share (yen)

5.7

57.9

11.9

58.0

7.1

12.9

20.1

22.9

30.1

53.8

FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025

Forecast

DOE (%)

1.4

1.6

2.5

3.6

3.1

3.2

2.9

2.6

2.4

3.1

5.0

(Reference)

Dividend Payout Ratio (%)

26.6

25.0

20.4

21.3

21.7

20.3

23.2

58.7

38.8

71.6

39.9

35.7

(Reference)

Total Payout Ratio (%)

48.1

Medium- Term Business Plan 2017

Medium-Term Business Plan 2022

*DOE for FY2013-2021 is for reference only.

*DOE = Total annual dividends (interim + year-end) / {(Equity as of the end of the previous fiscal year + Equity as of the end of the current fiscal year) / 2}