IDOM : ┗Results for Fiscal Year Ended February 28, 2026

3

53

5. Appendix: Supplementary Performance and Financial Data

34

4. Appendix

27

3. Dividend and Capital Policy

17

2. FY2026 Strategic Initiatives

4

1. FY2026 Financial Results

Contents

I am Nishihata, CFO of IDOM Co., Ltd.

I will now explain the financial results for the fiscal

year ending February 2026.

113*

Down 0% YoY

5

*Indexed to FY2023 (Base year =100)

• Retail units sold grew 10% YoY, achieving a

record-high level

163,931 units

Up 10％ YoY

Retail units sold

Retail units sold

Retail sales

• Gross profit per retail unit recovered to a level

comparable to the previous year, driven by successful inventory optimization strategies

FY2026 Highlights

Gross profit per retail unit

Gross profit per retail unit

Retail sales

20.2 billion yen

Up 2% YoY

Operating profit

• Achieved record-high operating profit

Operating profit

Consolidated

Please turn to Slide 5. Here are the highlights of our consolidated financial results for the current fiscal year. The first point concerns operating income.

Consolidated operating income reached 20.2 billion yen, a 2% increase from the previous fiscal year and a record high. This exceeded our forecast of 20.1 billion yen, meaning we have achieved our target.

The next point is gross profit per unit sold.

In the first half of the fiscal year, it took time to clear inventory purchased at high prices, but our inventory strategy implemented starting in the second quarter proved effective, and gross profit per unit sold recovered to 113, exceeding the annual forecast of 111.

The third point is retail unit sales.

Retail unit sales for the current period remained strong at 163,931 units. This represents a 10% increase from the previous year and marks a record high. Large-format stores contributed to this growth in retail unit sales.

6

Note: "2026" indicates the fiscal year ended February 28, 2026.

QoQ change (19.3%) 17.9％ 31.3% (5.4%)

profit margin

(billion yen)

(billion yen)

Highlights Trend in Operating Profit for FY2026

2025 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4

0

5.8

6.0

6

4

2

Up 19% YoY

8

15.0 20.2

10.0

2023 2024 2025 2026

Australian subsidiary whose shares were transferred Consolidated (excluding Australia)

1.3

20.0

The left side of the slide shows the annual trend in

operating profit.

We have surpassed the record profit achieved last fiscal year.

The right side of the slide shows the trend in operating profit over the last five quarters. After hitting bottom in the first quarter, the trend has been on the upswing, with operating profit reaching 5.7 billion yen in the fourth quarter-an 18% increase from the same period last year.

We have maintained strong growth following the third quarter.

The operating margin for this fourth quarter stands at 4.0%.

Market trend

Trend in the Used Car Market

(thousand yen)

1,200

Average market price of vehicles purchased by IDOM

Previous fiscal year

1,000

800

600

400

200

FY2017 FY2018 FY2019 FY2020

FY2021 FY2022 FY2023 FY2024 FY2025 FY2026

Note: IDOM research

7

2017/2

2018/2

2019/2

2021/2

2022/2

2024/2

2023/2

2025/2

2026/2

2020/2

This chart shows trends in the used car market based

on our purchase prices.

After building up a large inventory ahead of the first quarter to coincide with the opening of new stores, market prices plummeted, but have since been on an upward trend.

Highlights Market Impact: Risk Matrix

8

Please turn to Slide 8. This matrix summarizes the resilience of the used car industry and our company to changes in the external environment, along with our response strategies. There are two key points.

The first is resilience to economic fluctuations.

The used car business is characterized by its relative resistance to economic cycles. During economic booms, demand for vehicle replacements increases, while during recessions, buyers shift from new cars to used cars. By flexibly maintaining an optimal inventory lineup tailored to current needs, we can turn any economic trend into an opportunity for growth.

The second point is our ability to respond to fluctuations in the used car market. Market fluctuations can be categorized into four patterns based on "direction (upward or downward)" and "speed (gradual or sharp)."During an upward market trend, the value of vehicles on display also rises. This means unrealized losses are unlikely to occur, creating an environment where we can focus on retail sales with confidence.

On the other hand, consider a phase where the market is falling "gradually." By strengthening our inventory management system beyond normal levels and increasing turnover rates, we ensure sales are secured.

Finally, there is the case where the market falls "abruptly." This is the only risk. While we will experience short-term impacts due to unrealized losses on inventory, we possess inventory management expertise based on our past experience. Furthermore, since cars are essential items and are subject to vehicle inspection cycles, market prices do not continue to plummet indefinitely; supply and demand will eventually rebound within a certain period.

In conclusion, our company possesses the flexibility to mitigate the effects of economic fluctuations and can respond as usual in the vast majority of market volatility scenarios. Even regarding the sole concern-a "sharp market decline"-we have a robust system in place that allows us to successfully weather such a situation by leveraging our inventory management capabilities and the passage of time.

108

113

108

99

100

100

100

111

FY2026 target gross profit per retail unit

83 83

80

60

40

20

0

2023 2023 2023 2023 2024 2024 2024 2024 2025 2025 2025 2025 2026 2026 2026 2026

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Note: Index based on full-year gross profit per retail unit in FY2023 (set at 100)

Note: "2026" indicates the fiscal year ended February 28, 2026.

9

108

113

114

108

117

120

120 120

127

140

Trend in Gross Profit Per Retail Unit

Highlights

This chart shows the quarterly trend in retail gross profit starting from the fiscal year ending February 2023.

The orange line indicates the level of 111, which serves as the basis for our full-year earnings forecast. In response to the market downturn at the beginning of the year, we worked to reduce inventory, but the impact of this persisted, and first-half results remained below the level assumed in the full-year earnings forecast.

However, the trend in gross profit per unit has improved since the first quarter, and for the full year, we were able to exceed our plan.

Highlights Major KPIs for FY2026: Full Year

10

Here, I'd like to discuss the key KPIs for this fiscal

year.

We opened 17 large-scale stores this year, and they are performing well.

This is one more store than we opened last year. In the retail segment, we increased unit sales by approximately 15,000 units. As you saw on the previous slide, gross profit per unit has recovered. In the wholesale segment, unit sales increased by approximately 8,000 units compared to the same period last year, and gross profit per unit has recovered to 109.

Consolidated Full-Year Statement of Income for FY2026

*1. EBITDA = Operating profit + Depreciation

11

This is the consolidated income statement.

Revenue was 562.8 billion yen, up 13% from the same period

last year.

Gross profit increased by 9% year-over-year, while selling, general, and administrative expenses rose by 11%.As a result, operating profit was 20.2 billion yen, up 2% year-over-year, marking the first time it has exceeded 20 billion yen.

Ordinary income decreased by 500 million yen due to the impact of rising interest rates and an increase in the frequency of accounts receivable securitization.

Net income decreased by 1.5 billion yen to 11.9 billion yen, primarily due to the recognition of impairment losses on unprofitable mid-sized stores and the fact that the tax burden rate returned to normal levels because the company did not qualify for the wage increase promotion tax system. EBITDA was 24.4 billion yen, a 6% increase year-on-year, with an EBITDA margin of 4.3%.The factors contributing to the change in operating profit will be explained on the next slide.

12

FY2026

full-year operating profit

expenses

large stores

Subsidiaries

Wholesale sales Personnel and Cost relating to SG&A expenses hiring expenses the opening of and other

Retail sales

FY2025

full-year operating profit

15

10

5

0

(2.3)

1.0 20.2

(2.0)

19.9

20

(1.9)

6.6

(1.1)

25

FY2026 Full-Year Operating Profit -

Consolidated YoY Change Analysis

(billion yen)

Non-consolidated factors: Down ¥0.7 bn

30

This chart shows the year-over-year change in consolidated

operating income.

The figures within the red boxes represent factors specific to IDOM on a standalone basis.

The decline in standalone operating profit was 700 million yen, narrowing from the 1.5 billion yen decline recorded in the third quarter.

Looking at the individual factors, the retail segment contributed a 6.6 billion yen increase in profit by maintaining gross profit margins and increasing sales volume, while the wholesale segment saw a 1.1 billion yen decrease in profit.

On the other hand, selling, general, and administrative expenses (SG&A) increased by 6.2 billion yen due to higher operating costs-such as labor and rent expenses related to the opening of large-scale stores-and the provision for doubtful accounts in the installment sales business.

The difference between consolidated and standalone figures

resulted in a 1.0 billion yen increase.

As a result, consolidated operating profit increased by 300 million yen year-on-year to 20.2 billion yen.

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FY2025 Personnel Commission Advertising Outsourcing Land rent Other FY2026 full-year expenses expenses expenses expenses SG&A full-year SG&A expenses SG&A

expenses expenses

60

55

50

(0.1)

64.8

65

0.6

1.8

❷

0.7

1.2 ❶

❸

70

➍

2.0 71.0

(billion yen)

80

75

FY2026 Full-Year SG&A Expenses -

YoY Change Analysis

Non-consolidated

In the previous slide, I explained the factors contributing to the change in consolidated operating profit. I would now like to discuss the non-consolidated SG&A expenses highlighted in the red box.

In conjunction with the opening of large-scale stores, we are actively recruiting and training new talent. The number of employees increased by 292 compared to the previous year, and the per-employee cost rose by 13,000 yen, resulting in a 1.2 billion yen increase in personnel expenses.

We are striving to use advertising and promotional expenses efficiently as we expand our store network.

Additionally, rent and lease expenses increased by 1.8 billion yen due

to the opening of large-scale stores and other factors. Other SG&A expenses increased by 2.0 billion yen.

This category consists of many items, such as equipment and transportation costs, which increase with business expansion. However, due to strong sales in the installment sales business, we have recorded an additional 500 million yen in allowance for doubtful accounts. We have also set aside provisions for shareholder benefits to be paid during the current fiscal year.

As a result, non-consolidated SG&A expenses totaled 71.0 billion yen.

Consolidated Summary of the Balance Sheet

Consolidated balance sheet (as of February 28, 2025)

Consolidated balance sheet (as of February 28, 2026)

• Total assets increased by 43.6 billion yen to 263.6 billion yen.

Assets ¥220.0 bn Liabilities ¥139.2 bn

Assets ¥263.6 bn Liabilities ¥173.9 bn

• Accounts receivable increased by 3.7 billion yen due to installment sales.

• Inventories increased mainly due to a

4.4 billion-yen increase in units sold, while the impact of higher unit prices resulting from the market uptrend was insignificant.

• Property, plant and equipment increased by 15.2 billion yen due to new store openings and leased assets at subsidiaries.

Net assets ¥80.8 bn Net assets ¥89.7 bn

• Net interest-bearing debt increased by

4.1 billion yen, with gross debt up by

16.1 billion yen. This increase was driven by long-term borrowings and the concurrent issuance of retail and institutional bonds.

• The equity ratio was 33% on a consolidated basis.

14

Here is the status of the consolidated balance sheet (BS). Total assets amounted to 263.6 billion yen, an increase of 43.6 billion yen compared to the end of the previous fiscal year.

On the asset side, accounts receivable-most of which stem from our installment sales business-increased by 3.7 billion yen to 30.7 billion yen at the end of this fiscal year. We will control the growth of accounts receivable by conducting a 9.7 billion yen securitization (conversion to cash) of accounts receivable in the third quarter.

Inventory stood at 119.0 billion yen, an increase of 4.4 billion yen. While the impact of market fluctuations was minimal, the increase was primarily due to a rise in unit volume associated with new store openings. We continue to optimize inventory levels while opening large-scale stores. Inventory turnover days stood at 89.5 days, remaining at nearly the same level as the 87 days recorded at the end of the previous fiscal year. (See Slide 43)Tangible fixed assets totaled 54.3 billion yen, an increase of 15.2 billion yen compared to the end of the previous fiscal year. The main factors were the opening of large-scale stores and an increase in lease assets attributable to IDOM Cars Technology, a subsidiary that has returned to profitability.

Liabilities increased by 34.7 billion yen to 173.9 billion yen.

Interest-bearing debt increased by 16.1 billion yen to 95.4 billion yen. Of this amount, we issued 4.0 billion yen in corporate bonds and retail bonds to diversify our funding sources.

Net interest-bearing debt, taking cash and deposits into account, increased by

4.1 billion yen.

As a result, net assets increased by 8.9 billion yen to 89.7 billion yen, and the equity ratio stood at 33%.

15

Free cash flow

Cash flows from investing activities

Change in trade receivables

Pre-inventory buildup Change in inventories and

pre-trade receivables cash inflow

-5

(0.5)

(11.5)

5

0

(7.3)

10

❸

15

(4.4)

20

❷

❶

22.7

25

Free cash flow

Down ¥0.5 bn

Investment cash flow

Down ¥11.5 bn

Operating cash flow

Up ¥11.1 bn

(billion yen)

Consolidated Analysis of Changes in Cash Flows

Here is an overview of our consolidated cash flow. Operating cash flow generated 22.7 billion yen in cash before adjustments for changes in inventory and accounts receivable.

Although there were cash outflows of 4.4 billion yen due to an increase in inventory and 7.3 billion yen due to an increase in accounts receivable, operating cash flow remained positive at 11.1 billion yen.

Regarding investing cash flow, we invested 11.5 billion yen in the acquisition of tangible and intangible fixed assets, such as large-scale stores and maintenance facilities.

As a result, free cash flow was -0.5 billion yen, which was essentially neutral.

Earnings forecast

FY2026 Full-Year Performance vs. Earnings Forecast

16

This slide compares our financial forecasts with

actual results.

We opened 17 large-format stores this fiscal year, exceeding our target of 15. While retail unit sales fell short of our target, gross profit on retail sales exceeded our target.

In the wholesale segment, both unit sales and gross profit per unit exceeded our targets.

As a result, operating profit reached 20.2 billion yen, exceeding our forecast by 100 million yen.

I am Takao Hatori, the president.

I would like to discuss our efforts up to this fiscal year

and the challenges that lie ahead.

Large stores Newly Opened Stores

Recent store openings

Large stores opened in FY2026 Q4

・Nara Store (January 2026)

・Sendai Tomiya Store (January 2026)

・Senboku Store (January 2026)

・Yamaguchi Store (January 2026)

・Sapporo Moiwa Store (January 2026)

・Fukuyama Store (February 2026)

Full-year

progress

17/15 stores

Sendai Tomiya Store (opened in January 2026)

Tomiya City, Miyagi Prefecture

Number of 86 stores large stores

(as of February 28, 2026)

18

写真変更

お疲れ様です。 終業します。

In the fourth quarter, we opened six large-scale

stores in locations such as Sendai and Nara.

They are off to a strong start.

306.7

342

350

332

69

413.2

10

70

330

7.9

400

53

366.1

50

42

310

Note: "2026" indicates the fiscal year ended February 28, 2026.

34

5

29

275.7

30

290

10

270

200

0

2021 2022 2023 2024 2025 2026 2027

2021 2022 2023 2024 2025 2026 2027

250

Net sales CAGR: Up 13.3% Operating profit CAGR: Up 16.8%

(2020→2026) （2020→2026）

Number of large stores: Up 63 (2020→2026)

Retail units sold per store has also increased steadily.

23.4

390

130

20

390

19.5

20.1

410

150

16.4

(units)

Number of large stores

Retail units sold per store

(billion yen) (stores)

25

Net sales Operating profit

(billion yen)

800

Growth in the Gulliver Business: IDOM Non-Consolidated Results

Gulliver

90

16.7

613.0

369

600

110

370

546.7

15

356

96

349

351

11.9

86

486.8

-10

From here, we will review our growth trajectory since 2021, when we declared that large-format stores and service centers would be our key growth drivers.

To provide an overview of our domestic operations, we have included a chart showing the trends in non-consolidated revenue and operating profit. Both revenue and operating profit have grown at an annual rate of over 10%, with revenue more than doubling and operating profit increasing approximately threefold.

Large-format stores have been the driving force behind this growth.

As shown in the bar chart on the right, we have been steadily opening new stores, and as a result, retail sales per store have also increased.

We have achieved this growth despite overcoming temporary factors such as sharp market fluctuations and scandals at other companies.

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*2. Indexed to FY2023 (Base year =100)

*1. Gross profit per retail unit = Vehicle gross profit + Ancillary services gross profit

FY2026

FY2025

FY2024

FY2023

FY2022

FY2021

80

70

89

89

100

90

101

100

110

113

113

120

Up 13%

Trend in gross profit per retail unit*1 (indexed*2)

130

Trend in Gross Profit Per Retail Unit

Gulliver

Another factor driving growth is the improvement in

gross profit per vehicle sold.

We have achieved this improvement by offering high-quality used cars at fair prices and by proposing ancillary services and financing options tailored to each customer's needs.

Productivity Trend in the Number of Large Stores

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Note: Figures for FY2027 onwards are illustrative.

Here is an overview of the progress we have made in

opening large-scale stores.

We have accelerated our store openings with the goal of reaching a cumulative total of 100 stores.

While some openings will be delayed until the fiscal year ending February 2028 due to construction schedules, we consider our goal to have been achieved. Since we have now covered nearly all major commercial districts nationwide, we expect to maintain an opening pace of approximately five stores per year based on economic feasibility. We believe that this shift away from rapid expansion will allow our employees to gain more experience, which will have a positive impact on productivity.

While the pace of store openings will be more restrained, we will continue to expand our inventory in key markets to capture market share.

We aim for further growth, including investments that minimize capital expenditures-such as yard expansions at existing stores.

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Note: "2026" indicates the fiscal year ended February 28, 2026.

Note: Indexed to retail units sold per person in FY2021 (Base year =100)

2026

2025

2024

2023

2022

2021

80

60

40

20

0

93

98

100

100

105

110

107

120

Productivity: Retail Units Sold Per Person

Retail

Despite a shortage of staff at small and medium-sized stores due to the opening of large-scale stores, we have managed to maintain the company's overall sales volume per employee.

We believe that we can continue to increase sales volume through the further refinement of our sales processes and employee development.

Sustainable expansion

3

Revise the store opening strategy

• Shift to a store opening plan based on economic rationality

• Focus on increasing productivity at existing stores

Improve efficiency of invested capital

OMO and online sales

2 consultations

Deepen customer engagement

model and enhance productivity

• Accelerate the integration of digital and physical channels

• Build a sales platform unconstrained by location or time

Increase gross profit per person

Upgrading CRM platform

1

Strengthen IT investments

• Integrate customer data and build a utilization platform

• Promote accurate management of repeat customers and ensure deal execution

Enhance lifetime value (LTV) and improve repeat rate

Initiatives to prepare for the next medium-term business plan

Digital transformation-driven productivity improvements

We will also continue to prioritize IT investment as a key strategy aimed at improving productivity through digital transformation.

By enhancing our CRM infrastructure to increase customer touchpoints, we aim to improve conversion rates and LTV.

By expanding our OMO and online consultation initiatives, we will enable diverse work styles and boost productivity per employee.

We are already piloting these initiatives at select stores and are currently in the process of expanding them to additional locations. We believe these digital transformation efforts will also contribute to improving productivity at our existing stores.

3

FY 2/2033

Market share growth phase

Capture of 10% market share

Stabilization of repeat customer acquisition through LTV-driven strategies

Pursuit of diversified growth investments, including strategic M&A

Medium-Term Business Plan

Business Strategies to Drive Further Growth

Subsequent medium-term business plan (2031-2033)

Current medium-term business plan (2023-2027)

Next medium-term business plan (2028-2030)

FY 2/2030

2 Structural reform phase

FY 2/2027

1 Growth acceleration phase

100 large stores

Value enhancement and stabilization of gross profit per retail unit

Net increase in retail units sold

ROIC recovery to 8%

Improvements in financial performance at existing small- and mid-sized stores

CRM: Establishment of a platform to enable integrated customer management through IT investments

24

As we have discussed, in 2027 we will open large-scale stores while simultaneously addressing challenges related to efficiency and productivity.

Furthermore, in our next three-year mid-term plan through 2030, we aim to resolve these challenges and sustain our growth.

In the subsequent mid-term plan, we will expand our domestic market share to over 10% and ensure that the LTV improvement initiatives we are already implementing bear fruit, leading to repeat customer acquisition.

To accelerate our growth, we will take a proactive approach to investments, including M&A.

Earnings forecast

KPIs for FY2027 Earnings Forecast

*1. Figures in parentheses indicate the cumulative number of large stores.

25

I would like to discuss our earnings forecast for the fiscal year ending February 2027.First, regarding our KPIs.

We aim to open 10 new large-format stores, bringing our total to 96 stores in operation by the end of the fiscal year.

In the retail segment, we will maintain high unit gross margins while setting a new record for retail unit sales.

We will also renew our focus on buyback services. While this is expected to temporarily increase wholesale sales and lower unit gross margins, we believe it will prove effective in the long term as a strategy to improve LTV.

Earnings forecast

FY2027 Full-Year P/L Forecast

Note: Figures exclude extraordinary factors, including the prolonged impact of war.

26

While implementing these measures, we aim to achieve sales of over 600 billion yen and operating income of 24 billion yen for the fiscal year ending February 2027.

Now I'd like to talk about dividends and capital policy.

Capital

Our Perspective on the Cost of Capital

EVA spread: ROIC-WACC WACC ROIC

12.0%

10.0%

ROIC 6.8%

(FY2026)

8.0%

6.0%

WACC 4.8%

(FY2026)

4.0%

2.0%

0.0%

2021

2022

2023

2024

2025

2026

Notes: ROIC is calculated as: After-tax operating profit / ((Beginning inventory + Beginning non-current assets + Beginning accounts receivable + Ending inventory + Ending non-current assets + Ending accounts receivable) / 2)

WACC is calculated as: Cost of equity (Risk-free rate + (β×Market risk premium) + (Liquidity β×Liquidity risk premium)) × Equity ratio + Pre-tax cost of interest-bearing debt

× Interest-bearing debt ratio

"2026" indicates the fiscal year ended February 28, 2026. 28

While the WACC has risen to 4.8% due to rising interest rates, ROIC has declined as we have increased our upfront investments during this growth phase.

As a result, we estimate that the EVA spread-the difference between ROIC and WACC-has narrowed to 2%.

29

FY2023 FY2024 FY2025 FY2026

0

0

2

10

5

20

10

30

24

15

40

20

50

47

25

54

Number of stores 60

Accounts receivable (non-consolidated)

(stores)

Trend in the number of stores and accounts receivable (non-consolidated)

(billion yen)

30

Jisharon

Increase in Invested Capital:

Expansion of Jisharon, IDOM's In-House Loan Business

Business development

The first factor contributing to the increase in invested capital is the installment sales business under the Jisharon brand.

As part of our initiative to ensure that all customers can get around by car, we launched the business at two locations in 2022.The service has been well-received by customers beyond our expectations, and in response to this demand, we have expanded to 54 locations nationwide.

While this business contributes significantly to our revenue, the expansion of its scale has led to an increase in accounts receivable. We will continue to manage these amounts by converting accounts receivable into cash as appropriate.

6,000

30

Proprietary credit scoring model ensures the capture of new customer segments

AI-driven residual value forecasting technology enables both risk management and

profit maximization

FY2023 FY2024 FY2025 FY2026

(500)

0

0

4,000

2,000

500

1,000

8,000

1,500

10,000

Trend in operating profit and leased assets

Leased assets Operating profit 2,000

(million yen)

12,000

Increase in Invested Capital: Expansion of IDOM CaaS Technology

Business development

The second factor contributing to the increase in invested capital is lease sales by IDOM Cars Technology.

IDOM Cars Technology is a subsidiary within our group responsible for R&D. It aims to "balance risk management with profit maximization" using AI-based residual value prediction technology and to "acquire new customer segments" through a proprietary credit scoring model.

The company has achieved profitability this fiscal year.

Because it utilizes leasing and other methods, its leased assets are expanding.

These two businesses are steadily succeeding in

developing new markets.