Summary of Consolidated Financial Statements for the Year Ended December 31,…

[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.]

February 12, 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 of annual general meeting of shareholders: March 21, 2026

Scheduled date of start of dividend payment: March 2, 2026 Scheduled date to file annual securities report: March 23, 2026

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

1. Consolidated Results for the Year Ended December 31, 2025 (January 1, 2025 - December 31, 2025)

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

      	Net Sales		Operating Income		Ordinary Income		Net Income Attributable to HORIBA, Ltd.'s Shareholders
      Year Ended 12/31/25 Year Ended 12/31/24	Millions of yen 333,081 317,369	% 5.0 9.2	Millions of yen 53,040 48,340	% 9.7 2.2	Millions of yen 54,226 50,170	% 8.1 4.0	Millions of yen 37,090 33,591	% 10.4 -16.7

      (Note) Comprehensive income: FY2025 44,996 million yen ( -6.3%) FY2024 48,035 million yen (-10.5%)

      	Net Income Attributable to HORIBA, Ltd.'s Shareholders per Share	Net Income Attributable to HORIBA, Ltd.'s Shareholders per Share (Diluted)	Return on Equity	Ordinary Income to Total Assets	Operating Income to Net Sales
      	Yen	Yen	%	%	%
      Year Ended 12/31/25	883.50	879.27	11.2	10.8	15.9
      Year Ended 12/31/24	799.44	795.34	11.3	10.8	15.2

      (Reference) Equity in earning of affiliates: FY2025 － million yen FY2024 － million yen

   2. Consolidated Financial Position

      	Total Assets	Net Assets	Shareholders' Equity Ratio	Net Assets per Share
      	Millions of yen	Millions of yen	%	Yen
      As of 12/31/25	518,279	348,640	67.1	8,286.08
      As of 12/31/24	481,616	314,704	65.2	7,485.06

      (Reference) Net assets excluding subscription rights to shares and non-controlling interests:

      As of 12/31/25 347,981 million yen As of 12/31/24 314,017 million yen

   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
   	Millions of yen	Millions of yen	Millions of yen	Millions of yen
   Year Ended 12/31/25	54,383	(24,923)	(11,993)	162,471
   Year Ended 12/31/24	40,335	(17,562)	(15,933)	143,963

2. Dividends

   	Dividend per Share					Total Dividends (Annual)	Payout Ratio (Consolidated)	Dividends to Net Assets (Consolidated)
   	First Quarter	Second Quarter	Third Quarter	Year End	Total
   FY 12/2024 FY 12/2025	Yen - -	Yen 80.00 80.00	Yen - -	Yen 190.00 370.00	Yen 270.00 450.00	Millions of yen 11,327 18,898	% 33.8 50.9	% 3.8 5.7
   FY 12/2026 (Forecast)	-	150.00	-	340.00	490.00		50.8

   (Note) Total Year-end dividend for fiscal year 2025 of 370 yen per share: Year-end ordinary dividend of 210 yen and special dividend of 160 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)

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

   New	One company	(Company name: EtaMax Co., Ltd. [Korea])
   Excluded	One company	(Company name: EtaMax Co., Ltd. [Korea])

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

   1. Changes in accounting policies associated with revision of accounting standards: Yes

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

   3. Changes in accounting estimates: None

   4. Retrospective restatement: None

3. Number of shares outstanding (common stock)

   December 31, 2025	42,233,252	December 31, 2024	42,233,252
   December 31, 2025	237,318	December 31, 2024	280,753
   December 31, 2025	41,981,773	December 31, 2024	42,018,662

   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 audit 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 February 12, 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. Consolidated Financial Statements and Notes
   1. Consolidated Balance Sheets

      Amount: Millions of yen

      	FY2024 (As of December 31, 2024)	FY2025 (As of December 31, 2025)
      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	144,272	162,339
      	82,582	82,192
      	2,062	2,228
      	33,575	31,652
      	24,646	24,325
      	39,456	38,765
      	13,013	12,306
      	(2,808)	(1,580)
      	336,801	352,229
      	55,958	62,833
      	18,446	19,491
      	21,340	22,333
      	12,315	21,734
      	4,912	5,753
      	112,972	132,147
      	1,061	1,984
      	978	861
      	1,475	1,419
      	1,968	2,179
      	5,483	6,445
      	16,014	17,126
      	1,749	2,855
      	7,100	5,975
      	1,538	1,553
      	(45)	(53)
      	26,358	27,457
      	144,814	166,050
      	481,616	518,279

      Amount: Millions of yen

      	FY2024 (As of December 31, 2024)	FY2025 (As of December 31, 2025)
      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 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	20,321 9,013 -23,345 7,997 25,387 2,747 3,832 - -7,638	19,595 12,189 15,000 25,755 5,554 23,575 3,438 3,643 1,219 320 7,686
      	100,283	117,978
      	30,000 25,391 -739 2,074 8,421	15,000 24,294 44 866 2,366 9,088
      	66,627	51,660
      	166,911	169,639
      	12,011 18,624 241,826 (2,841)	12,011 18,624 267,469 (2,402)
      	269,621	295,703
      	6,901 37,112 382	8,622 42,725 930
      	44,395	52,278
      	673 14	621 37
      	314,704	348,640
      	481,616	518,279

   2. Consolidated Statements of Income and Consolidated Comprehensive Income Statements

      (Consolidated Statements of Income)

      Amount: Millions of yen

      	FY2024 (For the Year Ended December 31, 2024)	FY2025 (For the Year Ended December 31, 2025)
      Net Sales	317,369	333,081
      Cost of Sales	180,514	186,722
      Gross Income	136,854	146,359
      Selling, General and Administrative Expenses	88,514	93,318
      Operating Income	48,340	53,040
      Non-Operating Income
      Interest income	2,428	2,219
      Dividend income	355	391
      Subsidy income	462	309
      Other	417	296
      Total Non-Operating Income	3,663	3,218
      Non-Operating Expenses
      Interest expenses	924	852
      Foreign exchange losses	651	990
      Other	256	188
      Total Non-Operating Expenses	1,832	2,031
      Ordinary Income	50,170	54,226
      Extraordinary Gain
      Gain on sales of fixed assets	20	71
      Gain on sales of Investment Securities	-	1
      Total Extraordinary Gain	20	72
      Extraordinary Losses
      Loss on sales of fixed assets	1	0
      Loss on disposal of fixed assets	53	223
      Impairment losses	1,305	998
      Business restructuring expenses	-	1,342
      Environmental expenses	-	597
      Amortization of goodwill	-	51
      Loss on disaster	-	3
      Total Extraordinary Losses	1,359	3,217
      Income before Income Taxes	48,832	51,081
      Income taxes (current)	15,759	13,736
      Income taxes (deferred)	(525)	233
      Total Income Taxes	15,233	13,970
      Net Income	33,598	37,111
      Profit (loss) attributable to non-controlling interests	6	20
      Net Income Attributable to HORIBA, Ltd.'s Shareholders	33,591	37,090

      (Consolidated Statements of Comprehensive Income)

      Amount: Millions of yen

      	FY2024 (For the Year Ended December 31, 2024)	FY2025 (For the Year Ended December 31, 2025)
      Net Income	33,598	37,111
      Other Comprehensive Income
      Net unrealized holding gains or losses on securities	51	1,720
      Foreign currency translation adjustments	14,171	5,925
      Remeasurements of defined benefit plans	70	548
      Share of other comprehensive income of entities accounted for using equity method	144	(308)
      Total Other Comprehensive Income	14,437	7,885
      Comprehensive Income	48,035	44,996
      (Breakdown of comprehensive income)
      Comprehensive income attributable to HORIBA, Ltd.'s Shareholders	48,039	44,973
      Comprehensive income attributable to non-controlling interests	(3)	23

   3. Consolidated Statements of Changes in Net Assets

      FY2024 (For the Year Ended December 31, 2024)

      Amount: Millions of yen

      	Shareholders' Equity
      	Common Stock	Capital Surplus	Retained Earnings	Treasury Stock	Total Shareholders' Equity
      Beginning Balance	12,011	18,766	223,320	(1,037)	253,060
      Changes during the Period
      Dividend from Earnings			(12,232)		(12,232)
      Net Income Attributable to HORIBA, Ltd.'s Shareholders			33,591		33,591
      Purchase of Treasury Stock				(4,999)	(4,999)
      Disposal of Treasury Stock		(25)		58	33
      Restricted Stock Remuneration		62		106	169
      Cancellation of Treasury Stock		(3,031)		3,031	-
      Transfer of Negative Balance of Other Capital Surplus		2,852	(2,852)		-
      Others
      Total Changes during the Period	-	(141)	18,506	(1,803)	16,560
      Ending Balance	12,011	18,624	241,826	(2,841)	269,621

      	Accumulated Other Comprehensive Income				Subscription Rights to Shares	Non-Controlling Interests	Total Net Assets
      	Net Unrealized Holding Gains or Losses on Securities	Foreign Currency Translation Adjustments	Remeasure -ments of Defined Benefit Plans	Total Accumulated Other Comprehensive Income
      Beginning Balance	6,850	22,785	312	29,947	706	17	283,732
      Changes during the Period
      Dividend from Earnings							(12,232)
      Net Income Attributable to HORIBA, Ltd.'s Shareholders							33,591
      Purchase of Treasury Stock							(4,999)
      Disposal of Treasury Stock							33
      Restricted Stock Remuneration							169
      Cancellation of Treasury Stock							-
      Transfer of Negative Balance of Other Capital Surplus							-
      Others	51	14,326	70	14,447	(33)	(3)	14,411
      Total Changes during the Period	51	14,326	70	14,447	(33)	(3)	30,972
      Ending Balance	6,901	37,112	382	44,395	673	14	314,704

      FY2025 (For the Year Ended December 31, 2025)

      Amount: Millions of yen

      	Shareholders' Equity
      	Common Stock	Capital Surplus	Retained Earnings	Treasury Stock	Total Shareholders' Equity
      Beginning Balance	12,011	18,624	241,826	(2,841)	269,621
      Changes during the Period
      Dividend from Earnings			(11,330)		(11,330)
      Net Income Attributable to HORIBA, Ltd.'s Shareholders			37,090		37,090
      Purchase of Treasury Stock				(1)	(1)
      Disposal of Treasury Stock		(72)		124	51
      Restricted Stock Remuneration		1		172	174
      Performance share unit-based remuneration		(46)		143	97
      Transfer of Negative Balance of Other Capital Surplus		117	(117)		-
      Others
      Total Changes during the Period	-	-	25,642	439	26,081
      Ending Balance	12,011	18,624	267,469	(2,402)	295,703

      	Accumulated Other Comprehensive Income				Subscription Rights to Shares	Non-Controlling Interests	Total Net Assets
      	Net Unrealized Holding Gains or Losses on Securities	Foreign Currency Translation Adjustments	Remeasure -ments of Defined Benefit Plans	Total Accumulated Other Comprehensive Income
      Beginning Balance	6,901	37,112	382	44,395	673	14	314,704
      Changes during the Period
      Dividend from Earnings							(11,330)
      Net Income Attributable to HORIBA, Ltd.'s Shareholders							37,090
      Purchase of Treasury Stock							(1)
      Disposal of Treasury Stock							51
      Restricted Stock Remuneration							174
      Performance share unit-based remuneration							97
      Transfer of Negative Balance of Other Capital Surplus							-
      Others	1,720	5,613	548	7,882	(51)	23	7,853
      Total Changes during the Period	1,720	5,613	548	7,882	(51)	23	33,935
      Ending Balance	8,622	42,725	930	52,278	621	37	348,640

   4. Consolidated Statements of Cash Flows

   Amount: Millions of yen

   	FY2024 (For the Year Ended December 31, 2024)	FY2025 (For the Year Ended December 31, 2025)
   Cash Flows from Operating Activities: Income before income taxes Depreciation expense Impairment losses 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 Loss (gain) on sales of investment securities 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	48,832	51,081
   	12,653	13,180
   	1,305	998
   	406	625
   	96	(1,462)
   	-	364
   	-	1,124
   	103	(2)
   	(2,783)	(2,611)
   	924	852
   	22	57
   	(19)	(70)
   	53	223
   	-	(1)
   	(6,699)	3,689
   	5,794	6,028
   	(12,095)	(1,773)
   	1,518	(3,309)
   	50,113	68,995
   	2,857	2,624
   	(879)	(874)
   	(11,755)	(16,362)
   	40,335	54,383

   Amount: Millions of yen

   	FY2024 (For the Year Ended December 31, 2024)	FY2025 (For the Year Ended December 31, 2025)
   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 Subsidies received Other, net Net Cash Provided by (Used in) Investing Activities Cash Flows from Financing Activities: Net increase (decrease) in short-term borrowings Increase in long-term debt 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	(1,335)	(950)
   	3,117	1,264
   	(1,005)	(1,507)
   	1,000	1,505
   	(18,152)	(25,275)
   	92	254
   	(1,295)	(867)
   	(51)	(54)
   	-	1,674
   	(34)	(76)
   	30	72
   	-	(2,497)
   	-	1,554
   	72	(21)
   	(17,562)	(24,923)
   	2,365	2,184
   	1,253	-
   	(430)	(992)
   	(1,875)	(1,859)
   	(5,017)	(1)
   	0	0
   	(12,228)	(11,324)
   	(15,933)	(11,993)
   	6,573	1,041
   	13,412	18,508
   	130,550	143,963
   	143,963	162,471

2. Supplemental Information

   Financial Highlights for the Year Ended December 31, 2025

12/2024 Results 12/2025 Results

Net Sales

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

Operating Income

Contact

Corporate Planning Office, Group Strategy Division, HORIBA, Ltd. E-mail: ir-info@horiba.com

HORIBA, Ltd. (Consolidated)