FYE March 2026 3Q Financial Results

9M and Q3 FY2026 Results

…for patient comfort.

Date of Release: January 30, 2026 Earnings Call: Same as above

Japan Lifeline Co., Ltd.

TSE Prime Market Ticker 7575

Unauthorized copying prohibited.

Copyright © 2026 Japan Lifeline Co., Ltd. All rights reserved.

Today's Agenda

1. 9M and Q3 FY2026 Results

2. Q&A Session Watch the 9M results (Eng.) presented by our AI CFO avatar

   here.
   
   

The video will be released 4:30 PM, Jan. 30, 2026 (JST) (Concurrent with the live earnings presentation).

Appendix 1 Reference Materials Appendix 2 Investors Guide (Summary)

A fact sheet is available in PDF or excel on our website at https://www.japanlifeline.com/investors/

[Note] The fiscal year (FY) ends on March 31 of each year. 'FY20XX' refers to the fiscal year ending March 31, 20XX unless otherwise stated. 2

Today's Agenda

1. 9M and Q3 FY2026 Results

2. Q&A Session

Appendix 1 Reference Materials Appendix 2 Investors Guide (Summary)

A fact sheet is available in PDF or excel on our website at https://www.japanlifeline.com/investors/ 3

9M FY2026 Highlights

Highlights

External Factors

Sales & growth investments on plan; profit weighed by one-time costs

(+) AF procedure volume +10% YoY (ー) PFA*2 impacts on select products

Internal Factors

(+) Strong sales of core products*3 and New TAs*4 (ー) Increase in R&D expenses (+¥562mn)

(ー) Inventory write-down & HQ relocation costs

Revision to full-year financial guidance: None

4

*1 Net income attributable to owners of the parent *2 Pulsed Field Ablation *3 The core products: (1) Intracardiac defibrillation catheter (BeeAT), (2) Hemostatic device for femoral vein, (3) S-ICD, and (4) Frozen Elephant Trunk *4 Neurovascular and Gastrointestinal

9M FY2026 Consolidated P&L

• Record sales; profit impacted on growth investments & one-time costs

  (Â¥mn except for per share amount)

  Net sales Gross profit

  %

  SG&A

  Operating profit

  %

  9M FY2025

  
  
  

  42,811

  25,910

  60.5%

  16,003

  9,906

  23.1%

  9M FY2026

  Record High

  44,405

  26,512

  59.7%

  16,687

  9,824

  22.1%

  Change

  Amount %

  +1,593 +3.7%

  +602 +2.3%

  (80bps)

  +684 +4.3%

  (82) (0.8%)

  (249) (3.5%)

  (100bps)

  Comments

  (+) Sales volume increased with more cases (+) New therapeutic areas expanded

  (+) Sales volume increased with more cases (ー) Price revision (Q1: 2-mon. impact)

  (ー) Product mix deteriorated

  (ー) R&D, sales-related, personnel and other expenses increased

  Net income*1

  7,071

  6,821

  (ー) Inventory write-down due to withdrawal from cholangioscope*² and HeartLight X3*³

  % 16.5%

  15.4%

  (110bps)

  businesses (Non-operating)

  (ー) HQ relocation costs (Extraordinary losses)

  Proprietary sales mix 57.6%

  55.5%

  (210bps) Procured products sales: +9.0%

  -->Neurovascular, hemostatic devices and others

  International sales mix 2.0%

  Basic EPS (Â¥) 99.37

  2.5%

  97.25

  +50bps

  (2.12) (2.1%)

  Proprietary products sales: (0.1%)

  -->Esophageal catheters and others

  5

  *1 Net income attributable to owners of the parent *2 Proprietary product in the Gastrointestinal field *3 Procured product manufactured by CardioFocus in the EP/Ablation field

  
  
  
  
  

  9M FY2026 Operating Profit Analysis

  
  
  

  • PFA impact (962)

    (Eso catheter & others)

  • Exports +147

  and others

• Growth offset PFA headwinds, yet slight profit decline due to heavy forward investment

  • R&D

  (562)

  • Sales-related (216)

  • Personnel (211)

  New TAs

  • Neuro + 262

  • Gastro + 233

  Core Products*1

  • Hemostatic device + 554

  • Defibrillation

    catheter(BeeAT) + 495

    YoY

  • FET *² + 150

  • S-ICD + 57

    +1,256

    +496

    Other products

    Unit price Impact and other factors *³

    Increase in SG&A expenses

    (Excl. one-off)

    (82)

    0.8% down

    (Â¥mn)

    9,906

    New TAs

    (860) (290) +388

    9,824

    Core Products

    • Selling price decline (380) incl. reimbursement

      (1,072)

      One-off factors (Positive)

      revision approx. (90)

      • Lower purchase prices

      • Bad Debt Related *⁴ +399

      • Misc. Income *⁵ (10)

  Sales volume Unit price

  9M FY2025

  Operating Profit

  Sales/COGS-related factors

  +602

  SG&A-related factors

  (684)

  9M FY2026

  Operating Profit

  *1 Strategically focused products *2 Frozen Elephant Trunk *3 Main factors include changes in selling/cost prices, and impact from product disposal/valuation loss *4 Recorded ¥199mn provision for doubtful accounts for one 6

  client in Q1 FY2025. Reversed ¥199mn of this provision in Q2 FY2026 due to partial debt recovery. *5 Misc. income related to inventory transfer following termination of Baylis product sales agreement occurred in Q1 FY2025

  
  
  

  9M FY2026 Progress on Initial Guidance

  
  
  

• Sales and OP in line with guidance; net income slightly impacted by one-time costs

• Q4 on track to meet plan; Year-end dividend forecast at Â¥54 (as planned, +Â¥1 YoY)

  (Â¥mn)

  59,300

  Net sales

  59,300

  100.0%

  (Â¥mn)

  12,900

  Operating profit

  12,900

  (Â¥mn)

  Vs. Full-year Guidance

  76.2%

  9,824

  6,620

  6,300

  3,272

  3M

  6M

  9M

  12M

  FY2026

  
  
  

  9,350

  Net income

  9,350

  Vs. Full-year Guidance

  73.0%

  6,821

  4,774

  4,500

  2,302

  3M

  6M

  9M

  12M

  FY2026

  
  
  

  100.0%

  44,475

  75.0%

  9,675

  7,013

  75.0%

  29,650

  50.0%

  6,450

  4,675

  50.0%

  14,825

  25.0%

  3,225

  2,338

  25.0%

  0 0.0% 0 0 0.0%

  Vs. Full-year Guidance

  74.9%

  44,405

  29,285

  29,300

  14,616

  3M

  6M

  9M

  12M

  FY2026

  
  
  Actual Guidance
  
  Actual Guidance
  
  Actual Guidance 7
  
  
  
  

  Our Product Categories

  Cardiac Business Composition: 94%*1

  CRM (Cardiac Rhythm Management)

  23%

  EP/Ablation

  49%

  Cardiovascular

  22%

  • Implantable electric devices to treat arrhythmias

    Stable

  • Medical tubes used in arrhythmia procedures

    [Core Product]

    • Vascular grafts used in aortic surgeries

      Core

      Business

      [Core Product] S-ICD

      Intracardiac Defibrillation Catheter

      [Core Product] Hemostatic Device

      Business

      [Core Product] Frozen Elephant Trunk

      New Therapeutic Areas Composition: 6%*1

      Neurovascular

      • Medical devices used to treat neurovascular diseases

  3%

  High

  Gastrointestinal 3%

  • Medical devices used to treat digestive diseases

  *1 Composition rates are actual results for FY2025

  Aspiration Catheter

  Embolic Coil

  Growth Business

  Bile-Duct Tube Stent 8

  
  
  
  
  
  
  

  Our Business Model

  Sales

  
  
  

  • Revenue tied to procedure volume

    Number of procedures

    Our market share

    Official Prices

    Wholesale price rate

    Volume

    Unit Price

    
    
    
    
    
    
    

    --> National health insurance reimbursement prices (NHI)

    
    
    

    Most of our products are single-use medical devices used in surgeries 9

    
    
    
    
    

    9M FY2026 Sales Analysis

    • Achieved sales growth in all categories except CRM YoY

(Â¥mn)

9M FY2025

Net Sales

Discontinued operations

+621

42,811

Cardiac Rhythm Management

(123)

+262

Gastro-

intestinal

(Coronary Intervention)

(63)

44,405

+552

+345

Neurovascular

Cardiovascular

EP/Ablation

Existing businesses

+ 773

New therapeutic areas

+ 883

Up 3.7%

9M FY2026

Net Sales 10