Summary of Consolidated Financial Statements for the Six Months Ended…

[Note : This document has been translated from a part of 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.]

August 7, 2026

Company name HORIBA, Ltd. Listed stock exchanges: Tokyo

Listing code 6856 URL: https://www.horiba.com/int/

Representative Masayuki Adachi, President TEL: (81)75-313-8121 Contact Toyota Uenaka, Department Manager, Finance and Accounting Dept.

Scheduled date to file semi-annual securities report: August 10, 2026 Scheduled date of start of interim dividend payment: August 31, 2026 Preparation of supplementary material on financial results: Yes

Holding of financial results briefing: Yes (for institutional investors and analysts)

(Figures have been rounded down to the nearest million yen)

1. Consolidated Results for the Six Months Ended June 30, 2026 (January 1, 2026 - June 30, 2026)

   1. Consolidated Operating Results (Percentages represent changes from the corresponding in the previous year)

      	Net Sales		Operating Income		Ordinary Income		Net Income Attributable to HORIBA, Ltd.'s Shareholders
      Six Months Ended 6/30/26 Six Months Ended 6/30/25	Millions of yen 179,853 148,943	% 20.8 4.4	Millions of yen 30,488 21,893	% 39.3 17.6	Millions of yen 31,419 22,529	% 39.5 16.9	Millions of yen 21,806 15,859	% 37.5 20.6

      (Note) Comprehensive income: FY2026Q2 31,927 million yen ( 362.7%) FY2025Q2 6,900 million yen (-79.6%)

      	Net Income Attributable to HORIBA, Ltd.'s Shareholders per Share	Net Income Attributable to HORIBA, Ltd.'s Shareholders per Share (Diluted)
      	Yen	Yen
      Six Months Ended 6/30/26	519.15	516.80
      Six Months Ended 6/30/25	377.91	376.12

   2. Consolidated Financial Position

   	Total Assets	Net Assets	Shareholders' Equity Ratio
   	Millions of yen	Millions of yen	%
   As of 6/30/26	543,203	365,264	67.1
   As of 12/31/25	518,279	348,640	67.1

   (Reference) Net assets excluding subscription rights to shares and non-controlling interests: As of 6/30/26 364,637 million yen As of 12/31/25 347,981 million yen

2. Dividends

   	Dividend per Share
   	First Quarter	Second Quarter	Third Quarter	Year End	Total
   FY 12/2025 FY 12/2026	Yen - -	Yen 80.00 150.00	Yen -	Yen 370.00	Yen 450.00
   FY 12/2026 (Forecast)			-	640.00	790.00

   (Note) Changes in the latest dividend forecasts released: Yes

   Total year-end dividend for fiscal year ending December 2026 (Forecast) of 640 yen per share: Year-end ordinary dividend of 210 yen, special dividend of 190 yen and commemorative dividend of 240 yen to mark the milestone of the Company's market capitalization exceeding 1 trillion yen.

3. Consolidated Forecasts for the Year Ending December 31, 2026 (January 1, 2026 - December 31, 2026)

(Percentages represent changes from the same period in the previous year)

(Note) Changes in the latest business forecasts released: Yes

1. Significant changes in the scope of consolidation during the period: Yes

   Pristine Deeptech Private Limited [India]

   Newly included: 3 companies

   HORIBA Australia Pty Ltd [Australia]

   HORIBA Middle East Limited [the United Arab Emirates]

   (For details, see page 12,"2. Consolidated Financial Statements and Notes (4) Notes to Consolidated Financial Statements, Changes in the Scope of Consolidation or Application of the Equity Method")

2. Application of the accounting method specific to interim consolidated financial statements: Yes

   (For details, see page 12,"2. Consolidated Financial Statements and Notes (4) Notes to Consolidated Financial Statements, Application of special accounting for preparing interim consolidated financial statement")

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

   1. Changes in accounting policies associated with revision of accounting standards: None

   2. Changes in accounting policies arising from other than the above: None

   3. Changes in accounting estimates: None

   4. Retrospective restatement: None

4. Number of shares outstanding (common stock)

   June 30, 2026	42,233,252	December 31, 2025	42,233,252
   June 30, 2026	211,697	December 31, 2025	237,318
   Jan. - Jun., 2026	42,003,482	Jan. - Jun., 2025	41,967,318

   1. Shares issued (including treasury stock)

   2. Treasury stock

   3. Average number of outstanding shares

Note 1. This consolidated financial report is not subject to review by certified public accountants or accounting firms. Note 2. Appropriate use of business forecasts and other important information

The forecasts of dividend amount and business performance contained in this report have been made based on certain future assumptions, outlooks, and plans which are available at the HORIBA Group as of August 7, 2026.

However, due to risks and various uncertain factors such as future business operation policies, changes in the economic environment in Japan and overseas, fluctuation of currency rates, it is possible that actual performance would vary considerably from the forecasts.

1. Qualitative Information Concerning Consolidated Results
   1. Information Concerning Consolidated Operating Results

      (For details, see pages 13-15, "3. Supplemental Information - Financial Highlights for the Six Months Ended June 30, 2026")

      During the six months ended June 30, 2026, HORIBA, Ltd. (hereinafter the Company) and its consolidated subsidiaries (hereinafter the HORIBA Group or HORIBA) increased sales by 20.8% year-on-year to 179,853 million yen and operating income increased by 39.3% to 30,488 million yen, mainly due to an increase in sales in "Materials & Semiconductor". Ordinary income increased by 39.5% to 31,419 million yen and net income attributable to HORIBA Ltd.'s shareholders increased by 37.5% to 21,806 million yen.

      The operating results of each business segment are summarized as follows.

      (Energy & Environment Field)

      While sales in Europe decreased, partly due to a slowdown in the growth of the hydrogen-related market, sales in the automotive-related business increased mainly in Japan and Asia, supported by steady demand for combustion measurement and other applications for hybrid vehicle development. As a result, segment sales increased by 7.5% year-on-year to 58,383 million yen, and operating income increased by 111.5% to 1,079 million yen.

      (Bio & Healthcare Field)

      Segment sales increased by 14.1% year-on-year to 21,513 million yen, an increase in sales of hematology analyzers in Europe, as well as the depreciation of the yen, which boosted sales when translated into yen. Despite the increase in sales, the segment posted an operating loss of 767 million yen (compared to an operating loss of 1,147 million yen in the six months of FY2025), mainly due to continued investments in the life science field.

      (Materials & Semiconductor Field)

      Segment sales increased by 31.9% year-on-year to 99,956 million yen, and operating income increased by 33.9% to 30,176 million yen, mainly due to an increase in sales to semiconductor production equipment manufacturers in Asia, driven by demand for advanced semiconductors for AI and data centers.

   2. Information Concerning Consolidated Earnings Forecasts for FY2026

   Our assumption for the exchange rate remains unchanged at 155 yen to the US dollars and 180 yen to the euro.

   Consolidated forecasts of FY2026 (Full year)

   Amount: Millions of yen

   	Previous Forecasts (As of May 14)	Revised Forecasts (As of Aug. 7)	Changes
   Net Sales	373,000	382,000	+9,000
   Operating Income	68,000	70,000	+2,000
   Ordinary Income	68,500	71,000	+2,500
   Net Income Attributable to HORIBA Ltd.'s Shareholders	48,500	50,000	+1,500

   Consolidated forecasts of FY2026 by segment (Full year)

   Net Sales Amount: Millions of yen Operating Income Amount: Millions of yen

   	Previous Forecasts (As of May 14)	Revised Forecasts (As of Aug. 7)	Changes
   Energy & Environment	134,000	134,000	-
   Bio & Healthcare	43,000	43,000	-
   Materials & Semiconductor	196,000	205,000	+9,000
   Total	373,000	382,000	+9,000

   	Previous Forecasts (As of May 14)	Revised Forecasts (As of Aug. 7)	Changes
   Energy & Environment	10,000	9,000	-1,000
   Bio & Healthcare	-	-500	-500
   Materials & Semiconductor	58,000	61,500	+3,500
   Total	68,000	70,000	+2,000

   Regarding consolidated earnings forecasts for FY2026, overall sales forecasts have been revised upward by 9,000 million yen to 382,000 million yen, while operating income forecasts have been raised by 2,000 million yen to 70,000 million yen. This increase in operating income forecasts has led to upward revision in ordinary income forecasts by 2,500 million yen to 71,000 million yen and forecasts for net income attributable to HORIBA Ltd.'s shareholders by 1,500 million yen to 50,000 million yen.

   By business segments, Materials & Semiconductor has revised upward its sales forecasts by 9,000 million yen and operating income forecasts by 3,500 million yen, taking into account the consolidated results for the first six months of FY2026 and recent order trends. On the other hand, Energy & Environment and Bio & Healthcare have revised downward their operating income forecasts by 1,000 million yen and 500 million yen respectively, considering the progress of consolidated results for the first six months of FY2026 relative to the previous forecasts

   .

   Amendments to Dividend Forecasts for FY2026

   Amount: Yen

   	Dividend per Share
   Record Date	Interim	Year-end	Total
   Previous Forecasts (As of May 14, 2026)	150	340	490
   Revised Forecasts		640 (Ordinary dividend:210) (Special dividend:190) (Commemorative dividend:240)	790 (Ordinary dividend:360) (Special dividend:190) (Commemorative dividend:240)
   Results for FY2026	150
   (Reference) Results for FY2025	80	370	450

   The Company's shareholder return policy is targeting a dividend payout ratio at 30% of consolidated net income attributable to HORIBA Ltd.'s shareholders, while special dividend and share buybacks will be executed timely and properly, taking into account investment opportunities, cash flow situation and other factors.

   In May 2026, the Company's market capitalization exceeded 1 trillion yen. To mark this milestone and express our appreciation for our shareholders' continued support, we have decided to pay a commemorative dividend of 240 yen per share, totaling approximately 10 billion yen, in commemoration of the milestone of the Company's market capitalization exceeding 1 trillion yen.

   In addition, considering the revised consolidated earnings forecasts for FY2026, the Company has amended the annual forecast for the ordinary dividend increasing by 60 yen to 360 yen per share.

   As a result, we have revised our annual dividend forecast upward by 300 yen per share from the previous forecast to 790 yen per share, comprising an interim dividend of 150 yen per share and a year-end dividend of 640 yen per share.

   Cautionary statement with respect to earnings forecasts

   The forecasts of dividend amount and business performance contained in this report have been made based on certain future assumptions, outlooks, and plans which are available at the HORIBA Group as of August 7, 2026. However, due to risks and various uncertain factors such as future business operation policies, changes in the economic environment in Japan and overseas, fluctuation of currency rates, it is possible that actual performance would vary considerably from the forecasts.

2. Consolidated Financial Statements and Notes

   1. Consolidated Balance Sheets

      Amount: Millions of yen

      	FY2025 (As of December 31, 2025)	FY2026 First Half (As of June 30, 2026)
      Assets Current Assets: Cash and bank deposits Notes and accounts receivable - trade, and contract assets Marketable securities Merchandise and finished goods Work in process Raw materials and supplies Other current assets Allowance for doubtful accounts Total Current Assets Fixed Assets: Property, Plant and Equipment: Buildings and structures, net Machinery, equipment and vehicles, net Land Construction in progress Other property, plant and equipment, net Total Property, Plant and Equipment Intangibles: Goodwill Software Leasehold interests in land Other intangibles Total Intangibles Investments and Other Non-Current Assets: Investment securities Retirement benefit asset Deferred tax assets Other investments and other assets Allowance for doubtful accounts Total Investments and Other Non-Current Assets Total Fixed Assets Total Assets	162,339	169,311
      	82,192	82,836
      	2,228	1,628
      	31,652	30,877
      	24,325	29,751
      	38,765	38,212
      	12,306	14,741
      	(1,580)	(1,773)
      	352,229	365,584
      	62,833	74,953
      	19,491	20,239
      	22,333	22,439
      	21,734	12,943
      	5,753	5,972
      	132,147	136,548
      	1,984	1,995
      	861	971
      	1,419	1,452
      	2,179	2,076
      	6,445	6,495
      	17,126	23,687
      	2,855	2,939
      	5,975	6,054
      	1,553	1,941
      	(53)	(48)
      	27,457	34,574
      	166,050	177,619
      	518,279	543,203

      Amount: Millions of yen

      	FY2025 (As of December 31, 2025)	FY2026 First Half (As of June 30, 2026)
      Liabilities Current Liabilities: Trade notes and accounts payable Short-term loans payable Current portion of bonds Accounts payable - other Accrued income taxes Contract liabilities Accrued bonuses to employees Accrued bonuses to directors and corporate auditors Reserve for product warranty Provision for business restructuring Provision for environmental measures Other current liabilities Total Current Liabilities Non-Current Liabilities: Corporate bonds Long-term loans payable Provision for environmental measures Deferred tax liabilities Retirement benefit liability Other non-current liabilities Total Non-Current Liabilities Total Liabilities Net Assets Shareholders' Equity Common stock Capital surplus Retained earnings Treasury stock Total Shareholders' Equity Accumulated Other Comprehensive Income Net unrealized holding gains or losses on securities Foreign currency translation adjustments Remeasurements of defined benefit plans Total Accumulated Other Comprehensive Income Subscription Rights to Shares Non-Controlling Interests Total Net Assets Total Liabilities and Net Assets	19,595 12,189 15,000 25,755 5,554 23,575 3,438 -3,643 1,219 320 7,686	22,426 8,901 15,000 23,430 9,549 26,311 2,084 518 3,767 955 -11,918
      	117,978	124,864
      	15,000 24,294 44 866 2,366 9,088	15,000 23,984 44 2,287 2,606 9,152
      	51,660	53,074
      	169,639	177,939
      	12,011 18,624 267,469 (2,402)	12,011 18,637 273,737 (2,143)
      	295,703	302,242
      	8,622 42,725 930	13,111 48,446 837
      	52,278	62,395
      	621 37	584 41
      	348,640	365,264
      	518,279	543,203

   2. Consolidated Statements of Income and Consolidated Comprehensive Income Statements (Consolidated Statements of Income)

      Amount: Millions of yen

      	FY2025 First Half (Six Months Ended June 30, 2025)	FY2026 First Half (Six Months Ended June 30, 2026)
      Net Sales	148,943	179,853
      Cost of Sales	82,230	99,030
      Gross Income	66,713	80,822
      Selling, General and Administrative Expenses	44,820	50,334
      Operating Income	21,893	30,488
      Non-Operating Income
      Interest income	1,117	1,212
      Dividend income	189	221
      Subsidy income	253	100
      Other	134	172
      Total Non-Operating Income	1,695	1,706
      Non-Operating Expenses
      Interest expenses	414	476
      Foreign exchange losses	468	211
      Other	176	87
      Total Non-Operating Expenses	1,059	775
      Ordinary Income	22,529	31,419
      Extraordinary Gain
      Gain on sales of fixed assets	36	19
      Reversal of business restructuring expenses	-	74
      Total Extraordinary Gain	36	94
      Extraordinary Losses
      Loss on sales of fixed assets	0	0
      Loss on disposal of fixed assets	79	53
      Business restructuring expenses	-	287
      Retirement benefit expenses	-	94
      Total Extraordinary Losses	79	436
      Income before Income Taxes	22,486	31,077
      Income taxes (current)	6,524	9,893
      Income taxes (deferred)	100	(622)
      Total Income Taxes	6,624	9,271
      Net Income	15,862	21,806
      Profit (loss) attributable to non-controlling interests	2	0
      Net Income Attributable to HORIBA Ltd.'s Shareholders	15,859	21,806

      (Consolidated Statements of Comprehensive Income)

      Amount: Millions of yen

      	FY2025 First Half (Six Months Ended June 30, 2025)	FY2026 First Half (Six Months Ended June 30, 2026)
      Net Income	15,862	21,806
      Other Comprehensive Income
      Net unrealized holding gains or losses on securities	(377)	4,489
      Foreign currency translation adjustments	(8,225)	5,724
      Remeasurements of defined benefit plans	(50)	(93)
      Share of other comprehensive income of entities accounted for using equity method	(308)	-
      Total Other Comprehensive Income	(8,961)	10,121
      Comprehensive Income	6,900	31,927
      (Breakdown of comprehensive income)
      Comprehensive income attributable to HORIBA Ltd.'s Shareholders	6,897	31,923
      Comprehensive income attributable to non-controlling interests	2	4

   3. Consolidated Statements of Cash Flows

      Amount: Millions of yen

      	FY2025 First Half (Six Months Ended June 30, 2025)	FY2026 First Half (Six Months Ended June 30, 2026)
      Cash Flows from Operating Activities: Income before income taxes Depreciation expense Amortization of goodwill Increase (decrease) in allowance for doubtful accounts Increase (decrease) in provision for environmental measures Increase (decrease) in provision for business restructuring Increase (decrease) in retirement benefit liability Interest and dividend income Interest expense Foreign exchange losses (gains) Loss (gain) on sales of fixed assets Loss on disposal of fixed assets Decrease (increase) in notes and accounts receivable - trade, and contract assets Decrease (increase) in inventories Increase (decrease) in trade notes and accounts payable Other, net Subtotal Interest and dividends received Interest paid Income taxes (paid) refund Net Cash Provided by (Used in) Operating Activities	22,486	31,077
      	6,297	7,383
      	243	304
      	(1,095)	136
      	-	(320)
      	-	(273)
      	107	238
      	(1,307)	(1,433)
      	414	476
      	13	101
      	(36)	(19)
      	79	53
      	10,970	1,300
      	(2,431)	(2,540)
      	(1,276)	1,850
      	2,959	328
      	37,425	38,664
      	1,296	1,433
      	(406)	(479)
      	(8,451)	(6,206)
      	29,864	33,411

      Amount: Millions of yen

      	FY2025 First Half (Six Months Ended June 30, 2025)	FY2026 First Half (Six Months Ended June 30, 2026)
      Cash Flows from Investing Activities: Increase in time deposits Decrease in time deposits Payments for purchase of marketable securities Proceeds from sales or redemption of marketable securities Payments for purchase of property, plant and equipment Proceeds from sales of property, plant and equipment Payments for purchase of intangibles Payments for purchase of investment securities Proceeds from sales or redemption of investment securities Payments of loans receivable Collection of loans receivable Purchase of shares of subsidiaries resulting in change in scope of consolidation Payments for acquisition of businesses Subsidies received Other, net Net Cash Provided by (Used in) Investing Activities Cash Flows from Financing Activities: Net increase (decrease) in short-term borrowings Repayments of long-term debt Repayments on finance lease obligations Purchase of treasury shares Proceeds from disposal of treasury shares Cash dividends paid Net Cash Provided by (Used in) Financing Activities Effect of Exchange Rate Changes on Cash and Cash Equivalents Net Increase (Decrease) in Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Period Cash and Cash Equivalents at End of Period	(208)	(29)
      	834	533
      	(1,000)	(998)
      	1,505	1,507
      	(9,199)	(11,046)
      	177	67
      	(420)	(296)
      	(10)	(10)
      	1,631	-
      	(25)	(6)
      	15	19
      	(2,471)	(95)
      	-	(290)
      	1,554	2,271
      	(25)	(440)
      	(7,641)	(8,813)
      	211	(3,230)
      	(272)	(648)
      	(872)	(1,035)
      	-	(1)
      	-	0
      	(7,955)	(15,527)
      	(8,889)	(20,443)
      	(5,322)	3,238
      	8,010	7,393
      	143,963	162,471
      	151,974	169,865

   4. Notes to Consolidated Financial Statements
   Changes in the Scope of Consolidation or Application of the Equity Method

   During the six months ended June 30, 2026, the entire shares of Pristine Deeptech Private Limited (India) were acquired, and it was newly included in the scope of consolidation.

   In addition, HORIBA Australia Pty Ltd (Australia) and HORIBA Middle East Limited (the United Arab Emirates) were newly included in the scope of consolidation following their establishment.

   Application of special accounting for preparing interim consolidated financial statement (Calculation method for tax expenses)

   The Company and its domestic consolidated subsidiaries calculated income tax expenses by multiplying interim income before income taxes by reasonably estimated annual effective tax rate. This tax rate was reasonably estimated after applying the deferred tax accounting to the annual income before income taxes.

3. Supplemental Information

   Financial Highlights for the Six Months Ended June 30, 2026

12/2025 Results 12/2026

Net Sales

Operating Income

Contact

Corporate Control Dept, Finance and Legal Division, HORIBA, Ltd. E-mail: ir-info@horiba.com

HORIBA, Ltd. (Consolidated)