Iwatani : Overview of Business Results for 1Q FY25

About this update from Iwatani Corporation

Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail. Consolidated Financial Results for the Three Months Ended June 30, 2025 [Japanese GAAP] August 8, 2025 Company name: IWATANI CORPORATION Stock exchange listing: Tokyo Code number: 8088 URL: https://www.iwatani.co.jp/ Representative: Hiroshi Majima President Contact: Tetsuo Matsuo General Manager Accounting Dept. Phone: 06-7637-3325 Scheduled date of commencing dividend payments: - Availability of supplementary briefing material on financial results: Yes Schedule of financial results briefing session: Yes (Amounts of less than one million yen are rounded down) Consolidated Financial Results for the Three Months Ended June 30, 2025 (April 1, 2025 to June 30, 2025) Consolidated Operating Results (% indicates changes from the previous corresponding period.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Three months ended Million yen % Million yen % Million yen % Million yen % June 30, 2025 206,353 4.5 6,420 (23.7) 7,439 (45.2) 4,724 (53.4) June 30, 2024 197,519 (2.2) 8,419 (1.1) 13,576 27.9 10,139 41.4 (Note) Comprehensive income: Three months ended June 30, 2025: ¥ 2,885 million[(82.0)%] Three months ended June 30, 2024: ¥ 16,071 million[ 4.1 %] Basic earnings per share Diluted earnings per share Three months ended Yen Yen June 30, 2025 20.53 - June 30, 2024 44.06 - (Notes) 1 The Company finalized the provisional accounting treatment for the application of equity method in the fiscal year ended March 31, 2025. As a result, figures for the three months ended June 30, 2024 reflect the finalization of the provisional accounting treatment. 2 The Company carried out a 4-for-1 share split of its common share as of October 1, 2024. Basic earnings per share has been calculated as if this share split were carried out at the beginning of the previous fiscal year. Consolidated Financial Position Total assets Net assets Capital adequacy ratio As of Million yen Million yen % June 30, 2025 844,962 388,983 44.7 March 31, 2025 872,194 397,191 44.3 (Reference) Equity: As of June 30, 2025: ¥ 377,724 million As of March 31, 2025: ¥ 386,036 million Dividends Annual dividends 1st quarter-end 2nd quarter-end 3rd quarter-end Year-end Total Yen Yen Yen Yen Yen Fiscal year ended March 31, 2025 - - - 47.00 47.00 Fiscal year ending March 31, 2026 - Fiscal year ending March 31, 2026 (Forecast) 23.50 - 23.50 47.00 (Note) Revision to the forecast for dividends announced most recently: No Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2026(April 1, 2025 to March 31, 2026) (% indicates changes from the previous corresponding period.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share Full year Million yen 936,400 % 6.0 Million yen 49,100 % 6.2 Million yen 63,100 % 2.6 Million yen 48,800 % 20.6 Yen 212.05 (Note) Revision to the financial results forecast announced most recently: No * Notes: Significant changes in the scope of consolidation during the period: Yes New 2 Companies Exclusion: 6 Companies Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: No Changes in accounting policies, changes in accounting estimates and retrospective restatement Changes in accounting policies due to the revision of accounting standards: No Changes in accounting policies other than 1) above: No Changes in accounting estimates: No Retrospective restatement: No Total number of issued shares (common shares) Total number of issued shares at the end of the period (including treasury shares): June 30, 2025: 234,246,596 shares March 31, 2025: 234,246,596 shares Number of treasury shares at the end of the period: June 30, 2025: 4,108,735 shares March 31, 2025: 4,107,871 shares Average number of shares outstanding during the period: Three months ended June 30, 2025: 230,138,154 shares Three months ended June 30, 2024: 230,111,243 shares (Note) The Company carried out a 4-for-1 share split of its common share as of October 1, 2024. Average number of shares outstanding during the period has been calculated as if this share split were carried out at the beginning of the previous fiscal year. *1. Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: Yes (voluntary) *2. Cautionary Statement with Respect to Forward-Looking Statements, and Other Information (Caution regarding forward-looking statements) The forward-looking statements, such as results forecasts, included in this document are based on information currently available to the Company and assumptions considered reasonable, and do not purport to be a promise by the Company to achieve such results. Actual results may differ materially, depending on a range of factors. For the assumptions prerequisite to the results forecasts and the points to be noted in the use of the results forecasts, please see "Overview of Operating Results, Etc. (4) Consolidated Financial Results Forecasts" on page 3. (How to obtain supplementary briefing material on financial results) The briefing material on financial results is scheduled to be posted on the company's website. Contents Overview of Operating Results, Etc. 2 Overview of Operating Results for the Three Months Ended June 30, 2025 2 Segment Information 2 Overview of Financial Position for the Three Months Ended June 30, 2025 3 Consolidated Financial Results Forecasts 3 Quarterly Consolidated Financial Statements and Notes 4 Quarterly Consolidated Balance Sheets 4 Quarterly Consolidated Statements of Income and Comprehensive Income 6 Explanatory Notes to Quarterly Consolidated Financial Statements 8 (Notes to Segment Information, Etc.) 8 (Notes in the Event of Significant Changes in Shareholders' Equity) 8 (Notes on the Assumption of a Going Concern) 8 (Notes to Quarterly Consolidated Statements of Cash Flows) 9 (Notes to Significant Subsequent Events) 9 Additional Information 10 Results for 1Q FY2025 10 Consolidated Statements of Income 10 Operating Profit Except for Impact of LPG Import Price Fluctuation 10 LPG Import Price (CP) 10 Segment Information 10 LPG and Industrial Gases Net Sales -Sales Volume 11 Financial Position 11 Capital Expenditure 11 Amount of share of profit or loss of Cosmo accounted for using equity method 11 Non-consolidated 11 Overview of Operating Results, Etc. Overview of Operating Results for the Three Months Ended June 30, 2025 Economic Environment and Initiatives During the cumulative first quarter of the current fiscal year, the Japanese economy continued on a gradual trend of recovery, supported by a pick-up in personal consumption due to an improvement in the income environment and an increase in capital investment against the backdrop of solid corporate earnings, despite the uncertainty about the outlook due to factors such as the U.S. tariff policy. Under these circumstances, Iwatani (hereinafter referred to as the "Company") expanded its business to achieve its basic policies of "solutions to social issues" and "sustained growth" in accordance with its medium-term management plan, "PLAN27," which ends in the fiscal year ending March 31, 2028. In order to realize a hydrogen energy-based society, the Company has applied for multiple projects for price gap support and hub development support under the Hydrogen Society Promotion Act, and is preparing the groundwork for business development with the aim of building a CO2-free hydrogen supply chains. With regard to our carbon-free strategies, in addition to the Company's participation in efforts promoted by Cosmo Energy Holdings Co., Ltd. and other entities to build a national supply chain for Sustainable Aviation Fuel (SAF) that utilizes used cooking oil as the raw material, it has begun considerations on the manufacture of green LPG which is produced during the manufacturing process of SAF with the aim of LPG decarbonization. Furthermore, the Company started supplying wood pellets to the Tahara Biomass Power Plant, an eight-company joint investment in which the Company is an investing party. The Company is playing a role in ensuring a stable supply and contributing to the decarbonization of electricity. In our domestic energy & service strategies, we concluded a comprehensive partnership agreement with the city of Oda in Shimane Prefecture with the aim of providing a wide-range of services, such as monitoring children and the elderly, that utilizes LPG business infrastructure. As part of its overseas strategies, the Company has acquired all shares in Bangkok Sanyo Spring Co., Ltd., which is based in Thailand, which performs metal press processing for automotive and precision parts. By leveraging the processing technology of Bangkok Sanyo Spring Co., Ltd. and our sales network, the Company aims to further expand the sales of processed metal products, from this base in Thailand. Earnings As a result of the negative impact of LPG import price fluctuations, the weakening of the helium market, and a decrease in share of profit of entities accounted for using equity method, for the cumulative first quarter of the current fiscal year, net sales were 206.353 billion yen (+8.834 billion yen year-on-year), operating profit was 6.420 billion yen (-1.998 billion yen year-on-year), ordinary profit was 7.439 billion yen (-6.136 billion yen year-on-year), and profit attributable to owners of parent was 4.724 billion yen (-5.415 billion yen year-on-year). Segment Information Integrated Energy In the Integrated Energy Business, revenue increased due to steady sales of energy-related equipment and the impact of new consolidation. As for profits, LPG sales volume decreased in the wholesale sector and there was a negative impact of LPG import price fluctuations (-1.105 billion yen year-on-year), profitability declined. As a result, net sales in this segment were 85.452 billion yen (+2.884 billion yen year-on-year), and operating profit was 1.886 billion yen (-1.381 billion yen year-on-year). Industrial Gases & Machinery In the Industrial Gases & Machinery Business, sales volume of air separation gases remained strong mainly for the optical fiber industries. In the hydrogen business, sales of hydrogen and hydrogen-refueling station related equipment increased. The profitability of specialty gases declined due to the weakening of helium markets. In the gas-related equipment, shipments of automobile-related equipment and semiconductor-related equipment decreased. As a result, net sales in this segment were 62.033 billion yen (+1.661 billion yen year-on-year) and operating profit was 2.107 billion yen (-1.179 billion yen year-on-year). Materials In the Materials Business, sales of high-performance film materials, mainly for smartphones, were sluggish, and regarding mineral sands business, the profitability of our mining sites in Australia declined. On the other hand, regarding rare earths and other items affected by China's export restrictions, efforts to ensure a stable supply resulted in increased sales. In addition, sales of biomass fuels and consumer resin products were solid, and sales of stainless steel increased due to the impact of new consolidation. As a result, net sales in this segment were 51.517 billion yen (+4.200 billion yen year-on-year) and operating profit was 2.991 billion yen (+0.462 billion yen year-on-year). Others Net sales were 7.350 billion yen (+0.087 billion yen year-on-year), and operating profit was 0.644 billion yen (-0.143 billion yen year-on-year). Overview of Financial Position for the Three Months Ended June 30, 2025 Total Assets Total assets at the end of the first quarter of the current fiscal year decreased by 27.231 billion yen from the end of the previous fiscal year to 844.962 billion yen. This was mainly due to decreases of 34.804 billion yen in notes and accounts receivable - trade, and contract assets and 3.969 billion yen in investment securities, respectively, despite increases of 6.560 billion yen in property, plant and equipment and 2.053 billion yen in other under current assets including advance payments to suppliers, respectively. Total Liabilities Total liabilities at the end of the first quarter of the current fiscal year decreased by 19.023 billion yen from the end of the previous fiscal year to 455.979 billion yen. This was mainly due to decreases of 19.766 billion yen in notes and accounts payable - trade, 8.365 billion yen in income taxes payable, respectively, despite an increase of 7.500 billion yen in contract liabilities. Interest-bearing debt, including lease liabilities, etc., at the end of the first quarter of the current fiscal year increased by 2.800 billion yen to 267.248 billion yen from the end of the previous fiscal year. Total Net Assets Total assets at the end of the first quarter of the current fiscal year decreased by 8.208 billion yen from the end of the previous fiscal year to 388.983 billion yen. This was mainly due to decreases of 6.102 billion yen in retained earnings, 3.585 billion yen in foreign currency translation adjustment, respectively, despite an increase in 1.766 billion yen in valuation difference on available-for-sale securities. Consolidated Financial Results Forecasts Although economic trends, fluctuations in LPG import prices, and other factors may affect our business performance, we have not changed our consolidated earnings forecast announced on May 14, 2025, for the first quarter of the current fiscal year. Quarterly Consolidated Financial Statements and Notes Quarterly Consolidated Balance Sheets (Million yen) As of March 31, 2025 As of June 30, 2025 Assets Current assets Cash and deposits 27,759 29,938 Notes and accounts receivable - trade, and contract assets 162,256 127,451 Electronically recorded monetary claims - operating 26,368 25,647 Merchandise and finished goods 65,786 66,840 Work in process 7,375 8,994 Raw materials and supplies 11,391 11,048 Other 27,733 29,787 Allowance for doubtful accounts (212) (203) Total current assets 328,458 299,505 Non-current assets Property, plant and equipment Land 79,287 81,929 Other, net 160,918 164,837 Total property, plant and equipment 240,206 246,766 Intangible assets Goodwill 22,893 22,641 Other 24,862 25,809 Total intangible assets 47,756 48,451 Investments and other assets Investment securities 211,938 207,968 Other 44,380 42,820 Allowance for doubtful accounts (545) (550) Total investments and other assets 255,772 250,238 Total non-current assets 543,735 545,457 Total assets 872,194 844,962 (Million yen) As of March 31, 2025 As of June 30, 2025 Liabilities Current liabilities Notes and accounts payable - trade 76,102 56,336 Electronically recorded obligations - operating 34,367 32,576 Short-term borrowings 24,421 27,630 Income taxes payable 10,882 2,517 Contract liabilities 8,330 15,831 Provision for bonuses 7,194 4,682 Other 93,695 98,227 Total current liabilities 254,993 237,801 Non-current liabilities Bonds payable 70,000 70,000 Long-term borrowings 111,619 109,607 Provision for retirement benefits for directors (and other officers) 1,522 1,414 Retirement benefit liability 6,082 6,160 Other 30,783 30,994 Total non-current liabilities 220,008 218,177 Total liabilities 475,002 455,979 Net assets Shareholders' equity Share capital 35,096 35,096 Capital surplus 32,128 32,127 Retained earnings 274,892 268,790 Treasury shares (1,558) (1,559) Total shareholders' equity 340,559 334,454 Accumulated other comprehensive income Valuation difference on available-for-sale securities 29,334 31,100 Deferred gains or losses on hedges 2,270 2,275 Foreign currency translation adjustment 11,839 8,254 Remeasurements of defined benefit plans 2,031 1,639 Total accumulated other comprehensive income 45,476 43,269 Non-controlling interests 11,155 11,258 Total net assets 397,191 388,983 Total liabilities and net assets 872,194 844,962 Quarterly Consolidated Statements of Income and Comprehensive Income Quarterly Consolidated Statements of Income (For the three months) Three months ended June 30, 2024 (Million yen) Three months ended June 30, 2025 Net sales 197,519 206,353 Cost of sales 143,861 151,787 Gross profit 53,657 54,566 Selling, general and administrative expenses Transportation costs 7,666 7,856 Provision of allowance for doubtful accounts (3) (4) Salaries, allowances and bonuses 11,142 11,574 Provision for bonuses 3,002 3,233 Retirement benefit expenses 499 438 Provision for retirement benefits for directors (and other officers) 41 24 Other 22,889 25,022 Total selling, general and administrative expenses 45,238 48,145 Operating profit 8,419 6,420 Non-operating income Interest income 111 84 Dividend income 772 819 Foreign exchange gains - 46 Share of profit of entities accounted for using equity method 3,821 - Subsidy income 471 438 Other 854 812 Total non-operating income 6,031 2,201 Non-operating expenses Interest expenses 607 753 Foreign exchange losses 121 - Share of loss of entities accounted for using equity method - 72 Other 145 356 Total non-operating expenses 874 1,182 Ordinary profit 13,576 7,439 Extraordinary income Gain on sale of non-current assets 183 306 Gain on sale of investment securities 1,580 50 Subsidy income 2 52 Gain on liquidation of project - 332 Total extraordinary income 1,767 742 Extraordinary losses Loss on sale of non-current assets 10 14 Loss on retirement of non-current assets 88 285 Loss on sale of investment securities 1 0 Loss on tax purpose reduction entry of non-current assets 2 52 Total extraordinary losses 103 352 Profit before income taxes 15,240 7,830 Income taxes 4,804 2,679 Profit 10,435 5,151 Profit attributable to non-controlling interests 296 426 Profit attributable to owners of parent 10,139 4,724 Quarterly Consolidated Statements of Comprehensive Income (For the three months) Three months ended June 30, 2024 (Million yen) Three months ended June 30, 2025 Profit 10,435 5,151 Other comprehensive income Valuation difference on available-for-sale securities 2,636 1,587 Deferred gains or losses on hedges 362 (125) Foreign currency translation adjustment 2,090 (3,444) Remeasurements of defined benefit plans, net of tax 21 (390) Share of other comprehensive income of entities accounted for using equity method 525 107 Total other comprehensive income 5,635 (2,265) Comprehensive income 16,071 2,885 Comprehensive income attributable to Comprehensive income attributable to owners of parent 15,722 2,518 Comprehensive income attributable to non-controlling interests 349 367 Explanatory Notes to Quarterly Consolidated Financial Statements (Notes to Segment Information, Etc.) First Quarter of FY2024 (April 1, 2024 - June 30, 2024) Information related to sales, operating income (loss) by reportable segment (million yen) Reportable Segments Others *1 Total Adjustments *2 Quarterly Consolidated Statements of Income *3 Integrated Energy Industrial Gases & Machinery Materials Subtotal Net sales Outside customers Intersegment 82,567 1,111 60,371 922 47,316 467 190,255 2,500 7,263 6,635 197,519 9,136 -(9,136) 197,519 - Total 83,679 61,293 47,783 192,756 13,899 206,655 (9,136) 197,519 Segment income 3,267 3,286 2,529 9,083 788 9,871 (1,451) 8,419 (Note) *1. "Others" is an operating segment not included in reportable segments. "Others" represents businesses in foods, livestock industry, finance, insurance, transportation, safety, information processing, etc. *2. Adjustments for segment income include companywide expenses not allocated to each segment and the elimination of intersegment transactions. *3. Segment income is adjusted with operating income of the quarterly consolidated statements of income. Information on impairment loss on fixed assets and goodwill by reportable segment None First Quarter of FY2025 (April 1, 2025 - June 30, 2025) Information related to sales, operating income (loss) by reportable segment (million yen) Reportable Segments Others *1 Total Adjustments *2 Quarterly Consolidated Statements of Income *3 Integrated Energy Industrial Gases & Machinery Materials Subtotal Net sales Outside customers Intersegment 85,452 1,081 62,033 331 51,517 585 199,002 1,998 7,350 6,814 206,353 8,812 -(8,812) 206,353 - Total 86,533 62,364 52,103 201,001 14,164 215,166 (8,812) 206,353 Segment income 1,886 2,107 2,991 6,985 644 7,630 (1,209) 6,420 (Note) *1. "Others" is an operating segment not included in reportable segments. "Others" represents businesses in foods, livestock industry, finance, insurance, transportation, safety, information processing, etc. *2. Adjustments for segment income include companywide expenses not allocated to each segment and the elimination of intersegment transactions. *3. Segment income is adjusted with operating income of the quarterly consolidated statements of income. Information on impairment loss on fixed assets and goodwill by reportable segment None (Notes in the Event of Significant Changes in Shareholders' Equity) None (Notes on the Assumption of a Going Concern) None (Notes to Quarterly Consolidated Statements of Cash Flows) The Company has not prepared a quarterly consolidated statement of cash flows for the first quarter of the current fiscal year. Depreciation, including amortization related to intangible assets except goodwill, and amortization of goodwill for the first quarter of the current fiscal year are as shown below. Three months ended June 30, 2024 (April 1, 2024 to June 30, 2024) (million yen) Three months ended June 30, 2025 (April 1, 2025 to June 30, 2025) Depreciation 6,600 7,194 Amortization of goodwill 802 861 (Notes to Significant Subsequent Events) (Transfer of non-current assets) The Company transferred non-current assets on July 16, 2025 as follows. Reason for transfer The Company has relocated its Tokyo Head Office for the purpose of reducing its total assets as part of a reform of its financial structure, improving its operating efficiency, and improving the employee workplace, and has transferred assets as follows. The Company's registered address for its head office is Chuo-ku, Osaka-shi (current Osaka Head Office), and this matter does not fall under a change in the location of a head office. Description of transferred assets Location Details of assets Gain on transfer 21-8, Nishi-Shimbashi 3-chome, Minato-ku, Tokyo Land, 1,433.15 m 2 Building, Steel-framed reinforced concrete construction, 12 floors above ground, 12,462.22 m 2 11,296 million yen (Note) The transfer price, etc. is not disclosed based on the strong wish of the transferee, but it is an appropriate amount that reflects market prices through bidding. Additionally, the gain on transfer is an amount obtained by deducting the book value and costs associated with the transfer from the transfer price. Description of transferee Details are not disclosed due to the strong wish of the transferee. The Company and the transferee have no capital relationship, personnel relationship, business relationship, or relationships with related parties that require reporting. The selection of the transferee was carried out through the appropriate process. Schedule of transfer Date of resolution at the meeting of the Board of Directors March 22, 2024 Date of conclusion of the agreement March 29, 2024 Property handover date July 16, 2025 Future Outlook As a result of this transfer of non-current assets, the Company plans to record a gain on sale of non-current assets of 11,296 million yen under extraordinary income in the first six months of the fiscal year ending March 31, 2026. Additional Information Results for 1Q FY2025 The Company finalized the provisional accounting treatment for the application of equity method in the fiscal year ended March 31, 2025. As a result, figures for the three months ended June 30, 2024 reflect the finalization of the provisional accounting treatment. Consolidated Statements of Income (Figures are rounded down to the nearest 100 million yen) (Unit: 100 million yen) 1Q FY2024 Apr-Jun 2024 1Q FY2025 Apr-Jun 2025 Change Rate FY2025 (Forecast) Overview Net sales 1,975 2,063 88 4.5% 9,364 Net sales increased mainly due to robust sales of products for industrial sectors, particularly in the Materials Business, as well as the impact of new consolidations. As for profits, operating profit and below decreased due to factors such as a decline in helium profitability, the negative impact on profits due to fluctuations in the LPG market and a decrease in share of profit of entities accounted for using equity method, etc. Gross profit 536 545 9 1.7% - Operating profit 84 64 (19) (23.7%) 491 Ordinary profit 135 74 (61) (45.2%) 631 Profit attributable to owners of parent 101 47 (54) (53.4%) 488 * Figures for fiscal year ending March 31, 2026 (forecast) were announced on May 14, 2025. Operating Profit Except for Impact of LPG Import Price Fluctuation (Unit: 100 million yen) 1Q FY2024 Apr-Jun 2024 1Q FY2025 Apr-Jun 2025 Change Rate FY2025 (Forecast) Overview Operating profit 84 64 (19) (23.7%) 491 ・ Impact of LPG import price fluctuation led to decrease in profit by 1.1 billion yen year-on-year. ・ Operating profit except for the impact of LPG import price fluctuation was 7.5 billion yen, a decrease of 0.8 billion yen. Impact of LPG import price fluctuation (0) (11) (11) - - Operating profit except for impact of LPG import price fluctuation 84 75 (8) (10.5%) 491 * For more detailed information, please see a slide of "Impact of LPG Import Prices" in Iwatani Corporation Business Overview. ( https://www.iwatani.co.jp/eng/ir/pdf/about_iwatani.pdf ) 0 LPG Import Price (CP) 900 ＜ Propane( $ /t) ＞ 800 700 630 635 1Q Ave. 570 $/t 1Q Ave. 601 $/t 635 1Q Ave. 610 $/t 600 625 500 555 580 520 400 400 Ave. 569 $/t Ave. 612 $/t 300 2023.4 2024.4 2025.4 2025.8 Segment Information (Unit: 100 million yen) 1Q FY2024 Apr-Jun 2024 1Q FY2025 Apr-Jun 2025 Change Rate Overview Integrated Energy Net sales 825 854 28 3.5% ・ Increase in revenue due to the steady sales of energy-related equipment as well as the impact of new consolidations. ・ Sales volume in the LPG wholesale sector decreased. ・ Negative impact of LPG import price fluctuation. Operating profit 32 18 (13) (42.3%) Industrial Gases & Machinery Net sales 603 620 16 2.8% ・ Solid sales of air separation gases mainly for the optical fiber industries. ・ Increase in sales volume of hydrogen and hydrogen-refueling station related equipment. ・ Decline in the profitability of specialty gases due to weakening in helium markets. ・ Decrease in sales of equipment for the automotive and semiconductor industries. Operating profit 32 21 (11) (35.9%) Materials Net sales 473 515 42 8.9% ・ Sluggish sales of high-performance film materials. ・ Decline in the profitability of our own mining sites of mineral sands. ・ Increase in sales of rare earths and related materials due to the efforts to ensure stable supply. ・ Solid sales of biomass fuels and consumer resin products. ・ Increase in sales of stainless steel due to the impact of new consolidation. Operating profit 25 29 4 18.3% Others, Adjustments Net sales 72 73 0 1.2% Operating profit (6) (5) 0 - Net sales represent sales to third parties. "Others, Adjustments" represents the sum of the "Other" business segment and "Adjustments." LPG and Industrial Gases Net Sales ･ Sales Volume Sales volume (thousand tons) Net sales (100 million yen) 1Q FY2024 Apr-Jun 2024 1Q FY2025 Apr-Jun 2025 Change Rate 1Q FY2024 Apr-Jun 2024 1Q FY2025 Apr-Jun 2025 Change Rate Domestic residential use 272 273 1 0.4% 435 443 7 1.7% Domestic industrial use 78 82 3 4.6% 93 93 (0) (0.1%) LPG sub total (except for overseas) 350 355 4 1.4% 529 537 7 1.4% LPG total 354 359 5 1.5% 533 541 7 1.5% Various industrial gases - - - - 370 390 20 5.5% FY2024 end 1Q FY2025 end Change Total assets 8,721 8,449 (272) Equity 3,860 3,777 (83) Interest-bearing debt, gross 2,644 2,672 28 Interest-bearing debt, net 2,366 2,373 6 Equity ratio 44.3% 44.7% 0.4pt Ratio of interest-bearing debt to total assets 30.3% 31.6% 1.3pt Debt-to-equity ratio, gross 0.68 0.70 0.02pt Debt-to-equity ratio, net 0.61 0.62 0.01pt Financial Position (Unit: 100 million yen) (8) Amount of share of profit or loss of Cosmo accounted for using equity method (Unit: 100 million yen) 1Q FY2024 Apr-Jun 2024 1Q FY2025 Apr-Jun 2025 FY2025 (Forecast) Amount of share of profit or loss of Cosmo accounted for using equity method 34 (5) 106 (9) Non-consolidated Non-consolidated Statements of Income (Unit: 100 million yen) 1Q FY2024 Apr-Jun 2024 1Q FY2025 Apr-Jun 2025 Change Rate Net sales 1,222 1,239 16 1.3% Operating profit 26 2 (24) (90.5%) Ordinary profit 136 130 (6) (4.8%) Profit 125 121 (4) (3.4%) Capital Expenditure 1Q FY2025 Apr-Jun 2025 FY2025 (Forecast) Integrated Energy 30 153 Industrial Gases & Machinery 79 298 Materials 21 70 Others, Adjustments 32 129 Capital expenditure 165 650 Depreciation 76 320 (Unit: 100 million yen) Financial Position (Unit: 100 million yen) FY2024 end 1Q FY2025 end Change Total assets 6,180 6,007 (172) Equity capital 2,540 2,564 24 Equity capital ratio 41.1% 42.7% 1.6pt In this document, "Cosmo Energy Holdings Co., Ltd." is abbreviated to "Cosmo." * Presented here are figures for property, plant and equipment, intangible assets (including goodwill), and investments securities, etc. (which include ¥12.7 billion yen invested in property, plant and equipment in the current period.) *"Others, Adjustments" represents the total of the "Others" business segment and "Adjustments."

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