〔Summary〕FY26/3 H1 Earnings

November 13, 2025

Inquiries: Ken Hirabayashi, CFO

Telephone: +81-3-6732-8100 https://www.j-display.com/en/ Supplemental Explanatory Materials for Earnings Results: Available Earnings Results Briefing: November 13, 2025

(for institutional investors and analysts - Japanese only)

1. FY26/3 H1 Consolidated Financial Results (April 1, 2025 to September 30, 2025)

   1. Consolidated Financial Results

      	Sales (JPY M) YoY		EBITDA (JPY M) YoY		Operating Profit (JPY M) YoY		Recurring Profit (JPY M) YoY		Net Income (JPY M) YoY
      FY26/3 H1	66,430	-35.5%	-12,361	-	-14,432	-	-19,100	-	-11,363	-
      FY25/3 H1	102,913	-14.2%	-13,446	-	-15,481	-	-17,331	-	-16,821	-

      EBITDA = Operating Profit + Depreciation

      (Reference) Comprehensive Income FY26/3 H1: JPY -10,820M FY25/3 H1: JPY -18,350M

      	EPS (Basic, JPY)	EPS (Diluted, JPY)
      FY26/3 H1	-1.84	-
      FY25/3 H1	-2.72	-

   2. Consolidated Financial Position

      	Total Assets (JPY M)	Net Assets (JPY M)	Shareholders' Equity Ratio
      FY26/3 H1	149,426	-4,065	-2.8%
      FY25/3	148,031	6,890	4.5%

      (Reference) Shareholders' Equity FY26/3 H1: JPY -4,171M FY25/3: JPY 6,649M

   3. Consolidated Cash Flows

   	Cash Flows from Operations (JPY M)	Cash Flows from Investments (JPY M)	Cash Flows from Financing (JPY M)	Cash and Cash Equivalents at Period-End (JPY M)
   FY26/3 H1	-12,800	22,177	5,375	35,720
   FY25/3 H1	-16,544	2,160	10,296	23,682

2. Dividends

   	Dividend per Share (JPY)
   	Q1	Q2	Q3	Q4	Total
   FY25/3	-	0.00	-	0.00	0.00
   FY26/3	-	0.00
   FY26/3 (Forecast)			-	0.00	0.00

   Note 1. Changes from the most recently announced dividend forecast: None

   2. The above shows dividends for common shares. For preferred shares, please see "4. Other Information (5) Dividends for Preferred Shares" below.

3. FY26/3 Consolidated Earnings Forecast

   JDI is currently taking a number of actions to grow its earnings and strengthen its financial position. As the timing and specific details of these actions are anticipated to significantly influence this year's performance, JDI is not disclosing a FY26/3 consolidated earnings forecast at this time. JDI will promptly disclose the forecast as soon as the outcomes from these actions become disclosable.

   For more information, please see "5. Earnings Outlook" on page 3.

4. Other Information

   1. Significant changes in the scope of consolidation during the period: None

      • Newly included: None

      • Excluded: None

   2. Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements: Yes

   3. Changes in accounting policies, changes in accounting estimates, and restatements

      1. Accounting policy changes based on amendments to accounting standards: None

      2. Accounting policy changes other than (i) above: None

      3. Accounting estimate changes: Yes

      4. Restatements: None

   4. Number of shares outstanding

      1. Number of shares outstanding (including treasury shares) at period-end FY26/3 H1: 3,880,393,562

         FY25/3: 3,880,393,562

      2. Number of treasury shares at period-end FY26/3 H1: 67

         FY25/3: 67

      3. Average number of shares outstanding (excluding treasury shares) during the period FY26/3 H1: 6,188,721,284

      FY25/3 H1: 6,188,721,284

      Note All preferred shares outstanding have the same rights as common shares with regard to rights to receive dividends, and are therefore included in the number of shares outstanding.

   5. Dividends for Preferred Shares

      Class E Preferred Shares	Dividend per Share (JPY)
      	Q1	Q2	Q3	Q4	Total
      FY25/3	-	0.00	-	0.00	0.00
      FY26/3	-	0.00
      FY26/3 (Forecast)			-	0.00	0.00

   6. Note on Appropriate Use of Forecasts

   Forward-looking statements contained in these materials are based on judgements regarding information available to JDI as of the announcement date. However, these statements involve risk and uncertainties, and actual earnings may differ significantly from the indicated forecasts.

5. Earnings Outlook

   Under the BEYOND DISPLAY strategy announced in November 2024, JDI has been steadily advancing the transformation of its business model. In June 2025 JDI initiated a voluntary retirement program in Japan, which resulted in 1,483 applications by the end of the application period in August, reaching the targeted number of participants. This workforce reduction is expected to reduce annual personnel expenses by c. JPY 13.5 billion.

   Additionally, JDI is implementing structural reforms, including ending production at the Mobara Fab by the end of 2025 and consolidating operations at the Ishikawa MULTI-FAB, with the aim of building a more efficient and flexible organizational structure.

   To improve its financial health and strengthen its cash flows, JDI issued the 14th Stock Acquisition Rights through a third-party allotment to Ichigo Trust on July 15, 2025. In addition, on July 30, 2025 JDI transferred all shares of subsidiaries that had received certain intellectual property rights from JDI and its subsidiaries to a subsidiary of Ichigo Trust. Furthermore, on May 15, 2025 JDI reached a basic agreement to transfer the land and buildings of the Mobara Fab to Ichigo Trust, and discussions toward a final agreement are currently ongoing. These financial measures are intended not only to resolve negative equity but also repay borrowings and secure working capital and growth funds.

   Meanwhile, the transfer of JDI's automotive business to a newly established subsidiary, originally scheduled for October 1, 2025, has been postponed to April 1, 2026, in order to accommodate organizational adjustments related to structural reforms and ongoing discussions with customers and business partners.

   As the timing and specific details of these actions are anticipated to significantly influence this year's performance, JDI is not disclosing a FY26/3 consolidated earnings forecast at this time. JDI will promptly disclose the forecast as soon as there is heightened visibility on the details of these actions' earnings outcomes this year.

   JDI is committed to executing its business model transformation and transitioning to a management structure aligned with its business scale, with the goal of delivering operating profitability from FY27/3.

6. Consolidated Financial Statements

1. Consolidated Balance Sheet (FY26/3 H1)

   		(JPY million)
   	FY25/3 (Mar 31, 2025)	FY26/3 H1 (Sep 30, 2025)
   Assets
   Current Assets
   Cash and deposits	21,073	37,288
   Accounts receivable - trade	22,800	15,962
   Accounts receivable - other	7,379	8,883
   Finished products and goods	14,025	10,637
   Work in process	11,465	14,280
   Raw materials and supplies	18,584	14,663
   Other	4,916	3,279
   Allowance for doubtful accounts	-90	-140
   Total Current Assets	100,156	104,853
   Non-Current Assets
   Property, Plant, and Equipment
   Buildings and structures, net	30,491	29,561
   Machinery, equipment, and vehicles, net	1,845	1,389
   Land	6,509	6,509
   Lease assets, net	693	571
   Construction in progress	1,523	979
   Other, net	938	820
   Total Property, Plant, and Equipment	42,001	39,832
   Intangible assets
   Other	1,190	374
   Total Intangible Assets	1,190	374
   Investments and Other Assets
   Securities investments	3,110	3,098
   Other	1,573	1,269
   Allowance for doubtful accounts	-1	-1
   Total Investments and Other Assets	4,682	4,366
   Total Non-Current Assets	47,875	44,572
   Total Assets	148,031	149,426

   		(JPY million)
   	FY25/3 (Mar 31, 2025)	FY26/3 H1 (Sep 30, 2025)
   Liabilities
   Current Liabilities
   Accounts payable	28,160	24,975
   Short-term loans payable	59,500	65,000
   Accounts payable - other	7,109	11,233
   Income tax payable	77	89
   EMS finished products and goods repurchase commitments	8,290	7,855
   Provision for bonuses	1,392	964
   Advances received	7,176	11,601
   Provision for business restructuring	3,451	13,634
   Provision for contract losses	3,273	3,651
   Other	6,416	7,179
   Total Current Liabilities	124,850	146,185
   Fixed Liabilities
   Long-term income tax payable	11	-
   Provision for business restructuring	10,351	4,383
   Defined benefit pension liability	2,244	7
   Other	3,683	2,915
   Total Fixed Liabilities	16,291	7,306
   Total Liabilities	141,141	153,491
   Net Assets
   Shareholders' Equity
   Capital	100	100
   Capital reserve	141,205	141,205
   Retained earnings	-144,664	-156,028
   Treasury shares	0	0
   Total Shareholders' Equity	-3,358	-14,722
   Accumulated Other Comprehensive Income
   Valuation difference on other securities	-	0
   Foreign currency translation adjustment	5,948	7,232
   Adjusted value of defined benefit pension	4,059	3,318
   Total Accumulated Other Comprehensive Income	10,008	10,551
   Stock Acquisition Rights	240	105
   Total Net Assets	6,890	-4,065
   Total Liabilities & Net Assets	148,031	149,426

2. Consolidated Income Statement (FY26/3 H1)

   		(JPY million)
   FY25/3 H1 (Apr 1, 2024 to Sep 30, 2024)		FY26/3 H1 (Apr 1, 2025 to Sep 30, 2025)
   Sales	102,913	66,430
   Cost of Goods Sold	103,615	69,395
   Gross Profit (Loss)	-701	-2,964
   SG&A	14,779	11,467
   Operating Profit (Loss)	-15,481	-14,432
   Non-Operating Income
   Interest income	95	86
   Rental income	96	71
   Business services income	-	94
   Recoveries of written down receivables	410	-
   Gain on sale of raw materials	97	246
   Other	379	235
   Total Non-Operating Income	1,079	734
   Non-Operating Expenses
   Interest expense	1,788	3,919
   Foreign exchange losses	50	830
   Other	1,090	652
   Total Non-Operating Expenses	2,929	5,402
   Recurring Profit (Loss)	-17,331	-19,100
   Extraordinary Income
   Gain on sale of fixed assets	1,823	19
   Gain on sale of subsidiary shares	-	18,533
   Gain on termination of retirement benefit plan	-	2,752
   Gain on reversal of stock acquisition rights	-	234
   Total Extraordinary Income	1,823	21,540
   Extraordinary Losses
   Impairment loss	535	539
   Decreased securities valuation (venture investment)	219	-
   Business restructuring expenses	-	12,692
   Total Extraordinary Losses	755	13,231
   Pre-Tax Income (Loss)	-16,262	-10,792
   Income Taxes	559	571
   Pre-Minority Interest Net Income (Loss)	-16,821	-11,363
   Net Income (Loss)	-16,821	-11,363

   Consolidated Statement of Comprehensive Income (FY26/3 H1)

   		(JPY million)
   FY25/3 H1 (Apr 1, 2024 to Sep 30, 2024)		FY26/3 H1 (Apr 1, 2025 to Sep 30, 2025)
   Net Income (Loss)	-16,821	-11,363
   Other Comprehensive Income
   Valuation difference on other securities	-1	0
   Foreign currency translation adjustment	-1,215	1,283
   Adjusted value of defined benefit pension, net of tax	-312	-741
   Total Other Comprehensive Income	-1,529	542
   Comprehensive Income	-18,350	-10,820
   of which, Comprehensive Income attributable to owners of the parent	-18,350	-10,820

   Consolidated Income Statement (FY26/3 Q2 Stand-Alone)

   		(JPY million)
   FY25/3 Q2 (Jul 1, 2024 to Sep 30, 2024)		FY26/3 Q2 (Jul 1, 2025 to Sep 30, 2025)
   Sales	46,996	33,987
   Cost of Goods Sold	47,933	33,377
   Gross Profit (Loss)	-936	609
   SG&A	7,501	5,888
   Operating Profit (Loss)	-8,437	-5,278
   Non-Operating Income
   Interest income	42	57
   Foreign exchange gains	-	167
   Rental income	47	33
   Recoveries of written down receivables	410	-
   Gain on sales of raw materials	22	224
   Other	121	189
   Total Non-Operating Income	644	673
   Non-Operating Expenses
   Interest expenses	938	2,046
   Foreign exchange losses	241	-
   Other	503	462
   Total Non-Operating Expenses	1,683	2,508
   Recurring Profit (Loss)	-9,476	-7,114
   Extraordinary Income
   Gain on sale of fixed assets	87	19
   Gain on sale of subsidiary shares	-	18,533
   Gain on termination of retirement benefit plan	-	2,752
   Gain on reversal of stock acquisition rights	-	206
   Total Extraordinary Income	87	21,512
   Extraordinary Losses
   Impairment loss	451	168
   Decreased securities valuation (venture investment)	219	-
   Business restructuring expenses	-	5,070
   Total Extraordinary Losses	671	5,239
   Pre-Tax Income (Loss)	-10,060	9,159
   Income Taxes	256	265
   Pre-Minority Interest Net Income (Loss)	-10,317	8,893
   Net Income (Loss)	-10,317	8,893

3. Consolidated Cash Flow Statement (FY26/3 H1)

1. Consolidated Earnings

   (JPY million)		FY25/3				FY26/3
   		Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
   	Consumer/Industrial	22,270	16,059	11,755	12,068	6,278	7,219
   	Automotive	33,646	30,936	28,790	32,483	26,164	26,768
   Sales1		55,917	46,996	40,546	44,552	32,443	33,987
   EBITDA2		-6,010	-7,436	-7,254	-12,347	-8,088	-4,272
   Operating Profit		-7,043	-8,437	-8,253	-13,333	-9,154	-5,278
   Recurring Profit		-7,855	-9,476	-8,715	-14,368	-11,986	-7,114
   Net Income		-6,504	-10,317	-31,948	-29,450	-20,256	8,893
   EPS (Basic)		-1.05	-1.67	-5.16	-4.76	-3.27	1.44
   USD/JPY (Avg)		155.9	149.7	152.4	152.6	144.6	147.5
   USD/JPY (Q-End)		161.1	142.7	158.2	149.5	144.8	148.9

   1From FY26/3 Q1, JDI reclassified its sales categories by merging "Smartwatch/VR" and "LCD Smartphone" into "Consumer/Industrial," reflecting the LCD smartphone business downsizing. Figures for FY25/3 have also been reclassified accordingly for comparison purposes.

   2EBITDA = Operating Profit + Depreciation

2. Financial Position

   (JPY million)	FY25/3				FY26/3
   	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
   Assets	212,016	197,152	176,456	148,031	141,390	149,426
   Liabilities	131,339	129,841	139,317	141,141	154,353	153,491
   Net Assets	80,677	67,310	37,139	6,890	-12,962	-4,065
   Shareholder Equity Ratio	37.9%	34.0%	20.9%	4.5%	-9.3%	-2.8%
   Operating CF	-116	-16,428	-2,753	-6,151	-9,982	-2,818
   Investing CF	3,396	-1,235	-6,567	-3,754	11,792	10,385
   Financing CF	-148	10,445	7,960	7,437	5,448	-73
   Ending Cash Bal.	33,258	23,682	23,753	20,432	27,654	35,720
   Free Cash Flow	-1,987	-17,775	-6,229	-9,973	-10,097	-2,908

3. R&D & Depreciation