JVCKENWOOD : Consolidated Financial Results for the Six Months (First Half) Ended September 30, 2025 (Under IFRS)

October 31, 2025

Company name: JVCKENWOOD Corporation

Listing: Prime Market of the Tokyo Stock Exchange Securities code: 6632

URL: https://www.jvckenwood.com/en.html

Representative: EGUCHI Shoichiro, Representative Director of the Board, President and CEO Inquiries: MIYAMOTO Masatoshi, Representative Director of the Board, Senior Managing

Executive Officer, CFO

Telephone: +81-45-444-5232

Scheduled date to file semi-annual securities report: September 12, 2025 Scheduled date to commence dividend payments: December 1, 2025 Preparation of supplementary material on financial results: Yes

Holding of financial results briefing: Yes (for analysts and institutional investors)

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the six months ended September 30, 2025 (from April 1, 2025 to September 30, 2025)
   1. Consolidated Operating Results (Percentages indicate year-on-year changes.)

      	Revenue		Core operating income*		Operating profit		Profit before tax
      Six months ended	Million yen	%	Million yen 8,319 13,015	%	Million yen 9,633 13,556	%	Million yen 10,292 14,473	%
      September 30, 2025	169,321	-4.1		-36.1		-28.9		-28.9
      September 30, 2024	176,574	1.1		23.9		38.2		48.6

      *Core operating income is calculated by deducting cost of sales, selling and general administrative expenses from revenue, and does not include other income, other expenses, and foreign exchange gains and losses, which are nonrecurring items that mainly occur temporarily.

      	Profit attributable to owners of parent		Total comprehensive income		Basic earnings per share	Diluted earnings per share
      Six months ended	Million yen 7,500 11,093	%	Million yen 10,514 5,542	%	Yen	Yen
      September 30, 2025		-32.4		89.7	50.97	50.84
      September 30, 2024		64.4		-70.5	73.55	73.01

   2. Consolidated Financial Position

   	Total assets	Total equity	Equity attributable to owners of parent	Ratio of equity attributable to owners of parent to total assets
   As of	Million yen	Million yen	Million yen	%
   September 30, 2025	313,588	137,647	131,730	42.0
   March 31, 2025	313,336	131,399	125,103	39.9

2. Dividends

   	Annual dividends per share
   	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Total
   	Yen	Yen	Yen	Yen	Yen
   Fiscal year ended March 31, 2025	-	5.00	-	10.00	15.00
   Fiscal year ending March 31, 2026	-	6.00
   Fiscal year ending March 31, 2026 (Forecast)			-	12.00	18.00

   Note: Revisions to the most recently announced dividend forecast: None

3. Consolidated Financial Forecast for the Fiscal Year Ending March 31, 2026 (April 1, 2025 -

(% indicate year-on-year changes)

Note: Revisions to recently announced earnings forecasts: Yes

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

2. Changes in accounting policies and changes in accounting estimates

   1. Changes in accounting policies required by IFRS: None

   2. Changes in accounting policies due to other reasons: None

   3. Changes in accounting estimates: None

3. Number of issued shares (ordinary shares)

   1. Total number of issued shares at the end of the period (including treasury stock)

      As of September 30, 2025	164,000,201 shares
      As of March 31, 2025	164,000,201 shares

   2. Number of treasury stock at the end of the period

      As of September 30, 2025	16,718,325 shares
      As of March 31, 2025	15,960,655 shares

   3. Average number of shares outstanding during the period

* JVCKENWOOD Corporation's shares owned by the trust relating to the share-based payment plan are included in the number of treasury stock.

• Review of the Japanese-language originals of the attached consolidated semi-annual financial statements by certified public accountants or an audit firm: None

• Proper use of earnings forecasts, and other special matters: A Cautionary Note on Forward-Looking Statements

This report contains forward-looking statements including those concerning future performance of JVCKENWOOD Corporation (the "Company"), and those statements are based on the Company's current assumptions, expectations and beliefs in light of the information currently possessed by it. Various factors may cause the Company's actual results to be materially different from any future performance expressed or implied by these forward-looking statements. Therefore, these statements do not constitute a guarantee by the Company that such future performance will be realized. For cautionary notes with respect to forward-looking statements, please refer to the "(3) Explanation of Future Forecast Information such as Consolidated Financial Forecast" in "1. Overview of Business Performance."

Access to Supplementary Financial Materials and Earnings Presentations

The Company plans to hold an online earnings results presentation for analysts and institutional investors on Tuesday, November 4, 2025. The presentation materials to be used on that day will be available for download from the Company's website.

(Appendix)

Table of Contents for Appendix

1. Overview of Business Performance 2

   1. Operating Results 2

   2. Financial Position 4

   3. Explanation of Future Forecast Information such as Consolidated Financial Forecast 5

2. Consolidated Financial Statements 6

   1. Consolidated Statement of Financial Position 6

   2. Consolidated Statement of Income and Consolidated Statement of Comprehensive Income 8

   3. Consolidated Statement of Changes in Equity 10

   4. Consolidated Statement of Cash Flows 12

   5. Notes to Consolidated Financial Statements 14

(Assumption for Going Concern) 14

(Segment Information) 14

1. Overview of Business Performance
   1. Operating Results

      Overview of the First Half of the Fiscal Year Ending March 31, 2026

      Revenue of JVCKENWOOD Corporation (the "Company") and its consolidated subsidiaries (the "Group") for the first half of the fiscal year ending March 31, 2026 decreased from the same period a year earlier due to a significant impact from a decrease in production and sales caused by insufficient supply of components in the Communications Systems Business of the Safety & Security Sector, as well as the impact of the U.S. tariff measures in the Mobility & Telematics Services Sector and the Media Business of the Entertainment Solutions Sector.

      Due to the impact of revenue decrease, the line-item profits of core operating income through to the profit attributable to owners of the parent also decreased from the same period a year earlier.

      A summary of consolidated operating results for the first half of the fiscal year ending March 31, 2026 is as follows.

      (Million yen)

      	H1 of FYE3/'25	H1 of FYE3/'26	Year-on-year change
      			Amount	Percentage
      Revenue	176,574	169,321	-7,252	-4.1%
      Core operating income*	13,015	8,319	-4,696	-36.1%
      Operating profit	13,556	9,633	-3,922	-28.9%
      Profit before income taxes	14,473	10,292	-4,181	-28.9%
      Profit attributable to owners of the parent	11,093	7,500	-3,593	-32.4%

      * Core operating income is calculated by deducting cost of sales and selling, general and administrative expenses from revenue, and does not include other income, other expenses, and foreign exchange losses (gains), which are primarily due to one-time factors. The evaluation of business sector performance is explained using core operating income.

      The exchange rates used for financial reporting purposes for the first half of the fiscal year ending March 31, 2026 are as follows.

      	Q1	Q2	H1 (reference)
      FYE3/'26 U.S. dollar Euro	Approx. 145 yen Approx. 164 yen	Approx. 147 yen Approx. 172 yen	Approx. 146 yen Approx. 168 yen
      FYE3/'25 U.S. dollar (for reference) Euro	Approx. 156 yen Approx. 168 yen	Approx. 150 yen Approx. 164 yen	Approx. 153 yen Approx. 166 yen

      Revenue

      Revenue of the Group for the first half of the fiscal year ending March 31, 2026 decreased approximately. 7,300 million yen, or 4.1%, from the same period a year earlier to 169,321 million yen. This was because of the significant impact of a decrease in production and sales caused by insufficient supply of components in the Communications Systems Business of the Safety & Security Sector, as well as the impact of the U.S. tariff measures in the Mobility & Telematics Services Sector and the Media Business of the Entertainment Solutions Sector.

      Core Operating Income

      The Company defines core operating income as revenue less cost of sales and selling, general and administrative expenses.

      Core operating income for the first half of the fiscal year ending March 31, 2026 decreased approximately. 4,700 million yen, or 36.1%, from a year earlier to 8,319 million yen, mainly because of reflecting a decrease in revenue.

      Operating Profit

      Operating profit for the first half of the fiscal year ending March 31, 2026 decreased approximately. 3,900 million yen, or 28.9%, from a year earlier to 9,633 million yen, mainly due to a decrease in core operating income despite improvement in other income.

      Profit Before Income Taxes

      Profit before income taxes for the first half of the fiscal year ending March 31, 2026 decreased approximately. 4,200

      million yen, or 28.9%, from a year earlier to 10,292 million yen. This was mainly due to a decrease in operating profit.

      Profit Attributable to Owners of the Parent

      Profit attributable to owners of the parent for the first half of the fiscal year ending March 31, 2026 decreased approximately. 3,600 million yen, or 32.4%, from a year earlier to 7,500 million yen, mainly due to a decrease in profit before income taxes.

      Revenue and Profit (Loss) by Business Sector

      Revenue and core operating income by business sector are as follows.

      First half of the fiscal year ending March 31, 2026 (April 1, 2025, to September 30, 2025)

      (Million yen)

      Business Sector		H1 of FYE3/'25	H1 of FYE3/'26	Year-on-year change
      Mobility & Telematics Services Sector	Revenue Core operating income	96,709 1,922	95,432 2,545	-1,276 +553
      Safety & Security Sector	Revenue Core operating income	48.586 9,916	43,725 5,122	-4,861 -4,793
      Entertainment Solutions Sector	Revenue Core operating income	26,631 965	25,866 526	-765 -438
      Others	Revenue Core operating income	4,646 142	4,297 124	-349 -17
      Total	Revenue Core operating income	176,574 13,015	169,321 8,319	-7,252 -4,696

      Mobility & Telematics Services Sector

      Revenue of the Mobility & Telematics Services Sector for the first half of the fiscal year ending March 31, 2026 decreased approximately. 1,300 million yen, or 1.3%, from a year earlier to 95,432 million yen. Core operating income grew approximately. 600 million yen, or 27.8%, from a year earlier to 2,545 million yen.

      Revenue

      Revenue of the OEM Business increased from a year earlier mainly due to solid performance of the dealer-installed option business in Japan as well as sales of in-vehicle speakers, amplifiers, antennas and cables at ASK Industries S.p.A., despite a decrease in sales of JVCKENWOOD Hong Kong Holdings Limited ("JKHL") engaged in OEM of automotive components and electronic devices, mainly due to the impact of the U.S. tariff measures.

      Revenue of the Aftermarket Business decreased from a year earlier mainly due to impacts of the U.S. tariff measures.

      Revenue of the Telematics Service Business decreased from a year earlier due to a decline in sales of the connected-type dashcams for auto insurance companies.

      Core Operating Income

      Core operating income of the entire Mobility & Telematics Services Sector increased from a year earlier. This was because, while JKHL in the OEM Business and the Aftermarket Business were affected by a decrease in revenue due to the U.S. tariff measures, profitability in the Aftermarket Business improved due to pass-through to product prices and fixed cost reductions across the sector.

      Safety & Security Sector

      Revenue of the Safety & Security Sector for the first half of the fiscal year ending March 31, 2026 decreased approximately. 4,900 million yen, or 10.0%, from a year earlier to 43,725 million yen. Core operating income decreased approximately. 4,800 million yen, or 48.3%, from a year earlier to 5,122 million yen.

      Revenue

      Revenue of the Communications Systems Business decreased approximately. 4,800 million yen from a year earlier, mainly due to a significant impact from a decrease in production and sales caused by insufficient supply of components. Revenue of the Professional Systems Business decreased approximately. 100 million yen from a year earlier mainly due to an impact from a decrease in sales of JVCKENWOOD Public & Industrial Systems Corporation.

      Core Operating Income

      Core operating income of the Safety & Security Sector as a whole reported a decrease from a year earlier. This was mainly because of a significant impact from insufficient supply of components in the Communications Systems Business.

      Entertainment Solutions Sector

      Revenue of the Entertainment Solutions Sector for the first half of the fiscal year ending March 31, 2026 fell approximately. 800 million yen, or 2.9%, from a year earlier to 25,866 million yen. Core operating income decreased approximately. 400 million yen, or 45.5%, from a year earlier to 526 million yen.

      Revenue

      Revenue of the Media Business decreased approximately. 2,100 million yen from a year earlier mainly due to impacts of the U.S. tariff measures.

      Revenue of the Entertainment Business increased approximately. 1,300 million yen from a year earlier mainly due to solid sales in the Content Business.

      Core Operating Income

      The Entertainment Solutions Sector as a whole reported a decrease in core operating income from a year earlier mainly due to a decrease in revenue of the Media Business, although the Entertainment Business recorded an increase in core operating income due to increased revenue.

   2. Financial Position

      Analysis of Assets, Liabilities, Equity, Etc. Assets

      Total assets increased approximately. 300 million yen from the end of the previous fiscal year to 313,588 million yen. This was mainly due to increases in intangible assets and other financial assets, despite a decreases in trade and other receivables.

      Liabilities

      Total liabilities were down approximately. 6,000 million yen from the end of the previous fiscal year to 175,941 million yen. This was mainly due to a decrease in other current liabilities including trade and other payables and accrued expenses.

      Equity

      Total equity rose approximately. 6,200 million yen from the end of the previous fiscal year to 137,647 million yen. This was mainly due to an increase in other components of equity reflecting the depreciation of yen since the previous fiscal year-end, in addition to an increase of approximately. 6,000 million yen in retained earnings.

      The ratio of equity attributable to owners of the parent to total assets increased 2.1 percentage points from the end of the previous fiscal year to 42.0%. This was due to an increase in retained earnings.

      Cash Flow Analysis

      Cash Flows from Operating Activities

      Net cash provided by operating activities for the first half of the fiscal year ending March 31, 2026 was 16,087 million yen, an increase of approximately. 100 million yen from the same period of the previous fiscal year. This was mainly due to an improvement in working capital despite a decrease in profit before income taxes.

      Cash Flows from Investing Activities

      Net cash used in investing activities for the first half of the fiscal year ending March 31, 2026 was11,139 million yen, an increase of approximately. 3,300 million yen from the same period of the previous fiscal year. This was mainly due to increases in purchases of intangible assets and long-term prepaid expenses, despite the proceeds from sale of real estate.

      Cash Flows from Financing Activities

      Net cash used in financing activities for the first half of the fiscal year ending March 31, 2026 was 5,048 million yen, a decrease of approximately. 5,200 million yen from the same period of the previous fiscal year. This was mainly due to an increase in proceeds from short-term borrowings, despite an increase in acquisition of treasury stock.

      Cash and cash equivalents at the end of the first half of the fiscal year ending March 31, 2026 decreased approximately. 4,700 million yen from the same period of the previous fiscal year to 49,623 million yen.

   3. Explanation of Future Forecast Information such as Consolidated Financial Forecast Earnings Forecast for the Fiscal Year Ending March 31, 2026

   For the first half of the fiscal year ending March 31, 2026, despite a significant impact from a decrease in production and sales caused by insufficient supply of components in the Communications Systems Business of the Safety & Security Sector, the Mobility & Telematics Services Sector performed better than expected.

   From the third quarter of the fiscal year ending March 31, 2026, although the timing of recovery production following the resolution of insufficient supply of components is slightly delayed in the Communications Systems Business, the impact of the U.S. tariff measures is expected to be mitigated through various initiatives undertaken to date.

   Accordingly, the consolidated earnings forecast for the fiscal year ending March 31, 2026 initially announced on May 1, 2025, has been revised as detailed separately today in the "Revision of Consolidated Earnings Forecast for the Fiscal Year Ending March 31, 2026."

   (Million yen)

   		Consolidated earnings for the fiscal year ended March 31, 2025	Consolidated earnings forecast for the fiscal year ending March 31, 2026 (As of 1 May, 2025)	Consolidated earnings forecast for the fiscal year ending March 31, 2026 (As of 31 October, 2025)	Compari son with the previous forecast	Year-on-year change
   Revenue		370,308	358,000	360,000	+2,000	-10,308
   Core operating income*		25,307	20,000	21,000	+1,000	-4,307
   Operating profit		21,792	19,000	20,500	+1,500	-1,292
   Profit before income taxes		23,490	19,500	21,000	+1,500	-2,490
   Profit attributable to owners of the parent		20,276	14,000	15,500	+1,500	-4,776
   Exchange rate	U.S. dollar	153 yen	150 yen	150 yen	±0 yen	-3 yen
   	Euro	164 yen	157 yen	172 yen	+15 yen	+8 yen

   *Core operating income is calculated by deducting cost of sales and selling, general and administrative expenses from revenue, and does not include other income, other expenses, and foreign exchange losses (gains), which are primarily due to one-time factors.

   The exchange rates used as assumptions in the earnings forecast is: USD 1 = JPY150 and EUR 1 = JPY172. The earning forecast was prepared by the Company based on information available at the time of releasing this document. Actual business results may differ from the forecast values due to various factors.

1. Consolidated Financial Statements

1. Consolidated Statement of Financial Position

   (Millions of yen)

   	As of March 31, 2025	As of September 30, 2025
   Assets Current assets Cash and cash equivalents Trade and other receivables Contract assets Other financial assets Inventories Right to recover products Income taxes receivable Other current assets Subtotal Assets classified as held for sale Total current assets Non-current assets Property, plant and equipment Goodwill Intangible assets Net defined benefit assets Investment property Investments accounted for using the equity method Other financial assets Deferred tax assets Other non-current assets Total non-current assets Total assets	48,597 71,738 6,682 2,228 58,498 346 934 6,885	49,623 61,875 7,206 3,044 61,333 342 832 7,267
   	195,912	191,525
   	913	-
   	196,825	191,525
   	62,067 886 22,920 635 3,991 8,044 8,472 8,760 733	61,956 953 25,839 572 3,987 8,971 10,447 7,845 1,485
   	116,510	122,062
   	313,336	313,588

   (Millions of yen)

   	As of March 31, 2025	As of September 30, 2025
   Liabilities and equity Liabilities Current liabilities Trade and other payables Contract liabilities Refund liabilities Short-term borrowings Other financial liabilities Income taxes payable Provisions Other current liabilities Subtotal Liabilities directly associated with assets classified as held for sale Total current liabilities Non-current liabilities Long-term borrowings Other financial liabilities Net defined benefit liabilities Provisions Deferred tax liabilities Other non-current liabilities Total non-current liabilities Total liabilities Equity Capital stock Capital surplus Retained earnings Treasury stock Other components of equity Equity attributable to owners of the parent Non-controlling interests Total equity Total liabilities and equity	50,578 4,285 4,280 26,121 4,449 1,981 2,117 31,471	48,832 4,082 4,066 29,064 4,565 1,879 2,107 27,309
   	125,285	121,908
   	862	-
   	126,148	121,908
   	24,253 11,198 15,659 1,316 2,288 1,072	23,517 10,526 15,291 1,312 2,345 1,038
   	55,789	54,032
   	181,937	175,941
   	13,645 42,357 58,086 (11,589) 22,602	13,645 41,725 64,106 (13,179) 25,432
   	125,103	131,730
   	6,295	5,916
   	131,399	137,647
   	313,336	313,588

2. Consolidated Statement of Income and Consolidated Statement of Comprehensive Income (Consolidated Statement of Income)

   (Millions of yen)

   	Six months ended September 30, 2024	Six months ended September 30, 2025
   Revenue Cost of sales Gross profit Selling, general and administrative expenses Other income Other expenses Foreign exchange gains (losses) Operating profit Finance income Finance expenses Share of profit (loss) of investments accounted for using the equity method Profit before income taxes Income tax expenses Profit Profit attributable to: Owners of the parent Non-controlling interests Profit Earnings per share Basic earnings per share Diluted earnings per share	176,574 118,490	169,321 117,756
   	58,084	51,565
   	45,068 1,481 1,192 251	43,245 1,803 421 (68)
   	13,556	9,633
   	584 697 1,030	516 661 803
   	14,473	10,292
   	2,863	2,557
   	11,610	7,735
   	11,093 516	7,500 234
   	11,610	7,735
   	73.55 yen 73.01 yen	50.97 yen 50.84 yen

   (Consolidated Statement of Comprehensive Income)

   (Millions of yen)

   	Six months ended September 30, 2024	Six months ended September 30, 2025
   Profit Other comprehensive income ("OCI") Items that will not be reclassified subsequently to profit or loss Financial assets measured at fair value through OCI Total items that will not be reclassified subsequently to profit or loss Items that may be reclassified subsequently to profit or loss Exchange differences arising on translation of foreign operations Cash flow hedges Share of OCI of investments accounted for using the equity method Total items that may be reclassified subsequently to profit or loss OCI, net of income tax Comprehensive income Total comprehensive income attributable to: Owners of the parent Non-controlling interests Comprehensive income	11,610	7,735
   	(426)	876
   	(426)	876
   	(4,354) (1,342) 55	2,008 (233) 127
   	(5,641)	1,902
   	(6,067)	2,779
   	5,542	10,514
   	5,387 155	10,330 184
   	5,542	10,514

3. Consolidated Statement of Changes in Equity

   For the six months ended September 30, 2024 (from April 1, 2024 to September 30, 2024)

   (Millions of yen)

   	Equity attributable to owners of the parent
   	Capital stock	Capital surplus	Retained earnings	Treasury stock	Other components of equity
   					Remeasure-ment of defined benefit plans	Financial assets measured at fair value through other comprehensive income	Exchange differences arising on translation of foreign operations
   Balance as of April 1, 2024	13,645	42,209	40,004	(7,125)	-	1,106	22,313
   Profit			11,093
   Other comprehensive income						(426)	(4,104)
   Comprehensive income	-	-	11,093	-	-	(426)	(4,104)
   Acquisition of treasury stock				(1)
   Disposal of treasury stock
   Share-based payment transactions		122		22
   Dividends paid			(1,809)
   Changes in ownership interests in subsidiaries Total transactions with the owners		(68)
   	-	53	(1,809)	20	-	-	-
   Balance as of September 30, 2024	13,645	42,263	49,288	(7,104)	-	680	18,209

   (Millions of yen)

   	Equity attributable to owners of the parent				Non-controlling interests	Total equity
   	Other components of equity			Total
   	Cash flow hedges	Fair value of investment property	Total
   Balance as of April 1, 2024	2,256	391	26,067	114,801	6,418	121,220
   Profit			-	11,093	516	11,610
   Other comprehensive income	(1,176)		(5,706)	(5,706)	(361)	(6,067)
   Comprehensive income	(1,176)	-	(5,706)	5,387	155	5,542
   Acquisition of treasury stock			-	(1)		(1)
   Disposal of treasury stock			-	-		-
   Share-based payment transactions			-	144		144
   Dividends paid			-	(1,809)	(21)	(1,830)
   Changes in ownership interests in subsidiaries			-	(68)	68	-
   Total transactions with the	-	-	-	(1,734)	47	(1,687)
   owners
   Balance as of September 30, 2024	1,080	391	20,361	118,454	6,620	125,075

   For the six months ended September 30, 2025 (from April 1, 2025 to September 30, 2025)

   (Millions of yen)

   	Equity attributable to owners of the parent
   	Capital stock	Capital surplus	Retained earnings	Treasury stock	Other components of equity
   					Remeasure-ment of defined benefit plans	Financial assets measured at fair value through other comprehensive income	Exchange differences arising on translation of foreign operations
   Balance as of April 1, 2025	13,645	42,357	58,086	(11,589)	-	909	20,529
   Profit			7,500
   Other comprehensive income						876	2,208
   Comprehensive income	-	-	7,500	-	-	876	2,208
   Acquisition of treasury stock		(1)		(2,000)
   Disposal of treasury stock				0
   Share-based payment transactions		(303)		410
   Dividends paid			(1,480)
   Changes in ownership interests in subsidiaries Total transactions with the owners		(326)
   	-	(631)	(1,480)	(1,590)	-	-	-
   Balance as of September 30, 2025	13,645	41,725	64,106	(13,179)	-	1,785	22,737

   (Millions of yen)

   	Equity attributable to owners of the parent				Non-controlling interests	Total equity
   	Other components of equity			Total
   	Cash flow hedges	Fair value of investment property	Total
   Balance as of April 1, 2025	772	391	22,602	125,103	6,295	131,399
   Profit			-	7,500	234	7,735
   Other comprehensive income	(254)		2,829	2,829	(50)	2,779
   Comprehensive income	(254)	-	2,829	10,330	184	10,514
   Acquisition of treasury stock			-	(2,002)		(2,002)
   Disposal of treasury stock			-	0		0
   Share-based payment transactions			-	106		106
   Dividends paid			-	(1,480)	(168)	(1,649)
   Changes in ownership interests in subsidiaries			-	(326)	(394)	(721)
   Total transactions with the	-	-	-	(3,702)	(563)	(4,266)
   owners
   Balance as of September 30, 2025	517	391	25,432	131,730	5,916	137,647

4. Consolidated Statement of Cash Flows

   (Millions of yen)

   	Six months ended September 30, 2024	Six months ended September 30, 2025
   Cash flows from operating activities
   Profit before income taxes	14,473	10,292
   Depreciation and amortization	8,737	8,579
   Increase (decrease) in net defined benefit liabilities	(640)	(435)
   Decrease (increase) in net defined benefit assets	108	62
   Finance income	(584)	(516)
   Finance expenses	697	661
   Loss (gain) on valuation of financial assets measured at fair value through profit or loss	204	67
   Loss (gain) on sales of property, plant and equipment	(1,227)	(1,205)
   Loss on disposal of property, plant and equipment	371	33
   Share of loss (profit) of investments accounted for using the equity method	(1,030)	(803)
   Decrease (increase) in trade and other receivables	4,705	11,318
   Decrease (increase) in inventories	(4,106)	(1,147)
   Increase (decrease) in trade and other payables	(242)	(1,500)
   Increase (decrease) in accrued expenses	(2,132)	(4,344)
   Increase (decrease) in other current liabilities	1,029	(484)
   Other, net	(2,337)	(2,355)
   Subtotal	18,027	18,222
   Interest received	528	430
   Dividend received	55	83
   Interest paid	(627)	(602)
   Income taxes paid	(2,025)	(2,046)
   Net cash provided by operating activities	15,958	16,087
   Cash flows from investing activities
   Purchases of property, plant and equipment	(6,571)	(4,011)
   Proceeds from sales of property, plant and equipment	4,115	1,380
   Purchases of intangible assets	(5,746)	(6,216)
   Payments for acquisition of long-term prepaid expenses	(164)	(969)
   Other, net	496	(1,323)
   Net cash used in investing activities	(7,870)	(11,139)

   (Millions of yen)

   	Six months ended September 30, 2024	Six months ended September 30, 2025
   Cash flows from financing activities
   Proceeds from short-term borrowings	3,285	41,299
   Repayment of short-term borrowings	(5,897)	(37,638)
   Proceeds from long-term borrowings	3,437	8,004
   Repayment of long-term borrowings	(6,518)	(9,938)
   Repayment of lease liabilities	(2,168)	(1,845)
   Acquisition of treasury stock	(1)	(2,000)
   Cash dividends paid	(1,809)	(1,480)
   Cash dividends paid to non-controlling interests	(517)	(715)
   Payments for acquisition of subsidiaries not resulting in change in scope of consolidation	-	(721)
   Other, net	(57)	(11)
   Net cash used in financing activities	(10,246)	(5,048)
   Effect of exchange rate changes on cash and cash	(1,439)	1,125
   equivalents
   Net increase (decrease) in cash and cash equivalents	(3,597)	1,025
   Cash and cash equivalents at beginning of year	57,874	48,597
   Cash and cash equivalents at end of period	54,276	49,623

5. Notes to Consolidated Financial Statements

(Assumption for Going Concern): None

(Segment Information)

1. Outline of reportable segments

   Reportable segments are the Company's constituent business units for which separate financial information can be obtained and those which are periodically examined by the Board of Directors for the purposes of determining the allocation of resources and evaluating results of operations.

   The Group appoints a chief operating officer ("COO") in each sector to formulate comprehensive strategies and engage in business activities for their products and services and conducts their worldwide operations.

   The Group is taking a step forward and going from being a traditional manufacturing and sales company to being one that creates customer value by providing solutions to their problems and operates three business segments: the Mobility & Telematics Services Sector, the Safety & Security Sector, and the Entertainment Solutions Sector. The Group's reportable segments are consistent with these business segments.

   The major products, services, and business details of each segment are as follows:

   Mobility & Telematics Services Sector	Manufacture and sales of car AV systems, car navigation systems, dashcams; in- vehicle speakers, amplifiers, antennas, and cables; in-vehicle devices, etc., and telematics solutions
   Safety & Security Sector	Manufacture and sales of professional wireless communications devices, communications devices for general consumers, professional video surveillance equipment, professional audio equipment, medical image display systems, etc.
   Entertainment Solutions Sector	Manufacture and sales of projectors, headphones, home audio equipment, portable power supplies, professional video cameras, etc.; entrusted business of CDs and DVDs (packaged software), etc.; manufacture of CDs and DVDs (packaged software); content business of audio and video software, content distribution, etc.
   Others	Service parts, etc.

2. Revenue, profit or loss for each reportable segment Revenue, profit or loss of each segment are as follows:

For the six months ended September 30, 2024 (from April 1, 2024 to September 30, 2024)

(Millions of yen)

Note: Segment profit is indicated with core operating income and calculated by deducting cost of sales and selling, general and administrative expenses from revenue.

For the six months ended September 30, 2025 (from April 1, 2025 to September 30, 2025)

(Millions of yen)

Note: Segment profit is indicated with core operating income and calculated by deducting cost of sales and selling, general and administrative expenses from revenue.