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JVCKENWOOD : Results and Forecast Briefing Q3 (Q1-3) of Fiscal Year Ending March 2026 (IFRS)

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JVCKENWOOD

Results and Forecast Briefing

Q3 (Q1-3) of Fiscal Year Ending March 2026 (IFRS)

JVCKENWOOD Corporation

February 3, 2026

Note : This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

  • All figures in this document are prepared in accordance with International Financial Reporting Standards (IFRS).

  • Percentages and value differences shown in this document were computed in yen and any single-digit value was rounded off to the nearest two-digit value.

    Copyright © JVCKENWOOD Corporation. All rights reserved.

    Financial Highlights

    • Overview of financial results for Q3 (Q1–3) of FYE3/’26

      M&T: Mobility & Telematics Services Sector

      S&S: Safety & Security Sector

      ES: Entertainment Solutions Sector

      • Both revenue and core operating income decreased YoY due to the impact of supply shortage of components primarily for the enterprise market in the Communications Systems Business in S&S, coupled with the effect of U.S. tariff measures on M&T and the Media Business in ES.

        • M&T: Revenue decreased but core operating income of the sector increased, reflecting solid sales at ASK*1 in the overseas OEM Business, despite the negative impact of U.S. tariff measures at JKHL*2 in the overseas OEM and the Aftermarket Businesses.

        • S&S: Revenue and core operating income of the sector decreased, affected by lost sales opportunities resulting from delayed product supply to the enterprise market, despite the recovery in sales to the North American public safety market following the resolution of component supply shortages in the Communications Systems Business after Q2.

        • ES: Revenue and core operating income of the sector decreased due to a negative impact of the U.S. tariff measures in the Media Business, although the Entertainment Business remained firm.

    • Full-year earnings forecast for FYE3/’26

      *1: ASK Industries S.p.A.

      *2: JVCKENWOOD Hong Kong Holdings Limited

      2

      • The forecast remain unchanged, as we expect sustained strong sales for the North American public safety market, brisk sales in M&T, and steady sales in ES, while the impact of reduced sales is expected to persist in the enterprise market of the Communications Systems Business in S&S in Q4.

  1. Overview of Financial Results for Q3 (Q1-3) of FYE3/ʼ26and Full-year Earnings Forecast for FYE3/ʼ26
  2. Topics

  1. Overview of Financial Results for Q3 (Q1-3) of FYE3/ʼ26and Full-year Earnings Forecast for FYE3/ʼ26

  2. Topics

Financial Results for Q3 (Q1-3) of FYE3/ʼ26

（Billion yen）

FYE3/’24

Q1-3

FYE3/’25 FYE3/’26 YoY Q1-3 Q1-3

Revenue

267.3

270.5

258.6

-11.8 -4.4%

Cost of sales

186.2

182.3

179.4

-2.9 -1.6%

Gross profit

Profit margin

81.1

30.3%

88.2

32.6%

79.2

30.6%

-8.9 -10.1%

Core operating income*1

16.0

18.6

13.3

-5.2 -28.3%

Profit margin

6.0%

6.9%

5.2%

Other Income, Other Expenses, Foreign Exchange Loss, etc.

-1.0

-1.8

1.6

+3.3 －

Operating profit

15.0

16.8

14.9

-1.9 -11.4%

Profit margin

5.6%

6.2%

5.7%

Profit before income taxes

14.9

18.3

16.0

-2.3 -12.3%

Profit attributable to owners of the parent

10.9

14.1

12.5

-1.6 -11.4%

EBITDA*2

29.8

32.3

30.1

-2.2 -6.8%

EBITDA margin

11.2%

11.9%

11.6%

*1 Core operating income does not include nonrecurring items that mainly occur temporarily, such as other income included in operating income, other expenses, and foreign exchange losses (gains).

*2 Profit (loss) before tax + Interest expense + Depreciation expense + Impairment loss.

5

(Yen)

FYE3/’25 FYE3/’26

Q1

Q2

Q3

Q4

Full-Year

Q1

Q2

Q3

Q4 Full-Year

Profit-And-Loss

U.S. dollar

156

150

152

153

153

145

147

154

Euro

168

164

163

161

164

164

172

179

Exchange Rates

Financial Results for Q3 (Q1-3) of FYE3/’26: Results by Sector

6

（Billion yen）

FYE3/’24 Q1-3

FYE3/’25 Q1-3 FYE3/’26 Q1-3

YoY

M&T

Revenue

148.8

148.8

144.4

-4.4 -2.9%

Core Operating Income

3.1

3.6

4.2

+0.6 +16.1%

S&S

Revenue

69.9

73.1

66.9

-6.2 -8.5%

Core Operating Income

13.3

13.2

7.9

-5.3 -40.0%

ES

Revenue

42.0

41.5

40.2

-1.3 -3.1%

Core Operating Income

-0.2

1.7

1.1

-0.6 -35.9%

Others

Revenue

6.6

7.1

7.2

+0.0 +0.1%

Core Operating Income

-0.2

0.1

0.1

+0.1 +63.4%

Total

Revenue

267.3

270.5

258.6

-11.8 -4.4%

Core Operating Income

16.0

18.6

13.3

-5.3 -28.3%

M&T

Revenue decreased but core operating income of the sector increased YoY, mainly reflecting solid sales at ASK and sector-wide efforts to reduce fixed costs, despite the negative impact of the U.S. tariff measures at JKHL in the OEM and the Aftermarket Businesses.

S&S

Revenue and core operating income of the sector decreased YoY, affected by lost sales opportunities resulting from delayed product supply to the enterprise market, despite the recovery in sales to the North American public safety market following the resolution of component supply shortages in the Communications Systems Business after Q2.

ES

Revenue and core operating income of the sector decreased YoY, mainly reflecting the negative impact of the U.S. tariff measures in the Media Business, despite steady sales in the content business in the Entertainment Business.

Financial Results for Q3 (Q1–3) of FYE3/’26:

Factors  Contributing  to  Changes  in  Core  Operating  Income          

  • Core operating income significantly declined YoY due to the negative impact of the U.S. tariff measures in M&T and the Media Business in ES in addition to the impact of the supply shortage of components in the Communications Systems Business in S&S primarily for the enterprise

    market.

    Impact of currency hedging

    -0.7＋0.7

    Decrease in

    Increase in fixed costs

    -0.5*

    *Increase due to foreign currency translation: -0.5

    Decrease in revenue, and deterioration profit margin

    13.3-2.6

    -2.1*

The U.S. Tariff impact

*Communications Systems parts

(Billion yen)

18.6

temporary office reorganization expenses

supply shortage impact: -3.5

‘25/3期Q1-3

Q1-3 of

FYE3/’25

Q1-3 of

’26/3期Q1-3

FYE3/’26

7

Full-Year Earnings Forecast for FYE3/’26

  • While full-year earnings forecast remains unchanged, forecast by sector is as follows.

    • In M&T, earnings are expected to exceed the forecast announced on October 31, 2025, driven mainly by solid sales at ASK in overseas OEM Business.

    • In S&S, earnings are expected to fall below the forecast announced on October 31, 2025, affected by lost sales opportunities resulting from delayed product supplies in the enterprise market, despite a recovery in sales in the North American public safety market of the Communications Systems Business.

Results for FYE3/’24

Results

for FYE3/’25

: (A)

Forecast for FYE3/'26 Revision of Forecast

announced previously by Sector (Feb. 3, 2026) (Oct. 31, 2025) : (C)

: (B)

(C)-(B) (C)-(A)

M&T

Revenue

199.4

203.2

196.5

199.0

+2.5 -4.2

Core Operating Income

3.9

4.9

3.9

5.0

+1.1 +0.1

S&S

Revenue

93.8

100.0

102.0

99.0

-3.0 -1.0

Core Operating Income

16.5

18.6

16.2

14.8

-1.4 -3.8

（Billion yen）          （Billion yen）

Tariff impact (Oct. 31, 2025)

                 -8.0

-2.3

                     0

                     0

ES Revenue

56.0

57.9

54.5

54.5

0.0

-3.4

                 -1.8

Core Operating Income

-0.3

1.8

1.1

1.1

0.0

-0.7

                 -1.4

Others Revenue

10.3

9.1

7.0

7.5

+0.5

-1.6

                     0

Core Operating Income

-0.4

-0.0

-0.2

0.1

+0.3

+0.1

                     0

Revenue

359.5

370.3

360.0

360.0

0.0

-10.3

                 -9.8

Core Operating Income

19.7

25.3

21.0

21.0

0.0

-4.3

                 -3.7

Operating Profit

Total

18.2

21.8

20.5

20.5

0.0

-1.3

                 -3.7

Profit Before Income 18.2

23.5

21.0

21.0

0.0

-2.5

-3.7

Profit Attributable to 13.0

20.3

15.5

15.5

0.0

-4.8

-3.2

ROE（％）

12.2

16.9

11.7

11.7

Profit-And-Loss

U.S. doller

145

153

150

150

Exchange Rates

Euro

157

164

172

172

Taxes

8

Owners of the Parent

Trends in Quarterly Results

  • In Q3 (October–December), revenue and core operating income of the sector decreased YoY, affected by lost sales opportunities for the enterprise market in the Communications systems Business in S&S as well as the negative impact of the U.S. tariff measures in M&T and ES, despite the recovery in sales to the North American public safety market in the Communication Systems Business in S&S.

    Quarterly

    Annual

    Revenue

    (Billion yen)

    (Billion yen)

    Core Operating Income

    FYE3/’24

    FYE3/’25

    FYE3/’26

    85.6

    5.0

    89.1

    5.5

    92.6

    5.5

    92.2

    3.7

    87.8

    6.0

    88.8

    7.0

    93.9

    5.6

    99.8

    6.7

    80.2

    3.1

    89.1

    5.3

    Revenue

    Core Operating Income

    89.3

    5.0

    359.5

    370.3

    360.0 360.0

    21.0

    25.3

    Cumulative

    for the quarter

    (Billion yen)

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

    FYE3/’24

    FYE3/’25

    FYE3/’26

    359.5

    370.3

    80.2

    3.1

    169.3

    8.3

    Revenue

    Core Operating Income

    258.6

    13.3

    267.3

    270.5

    174.7

    176.6

    25.3

    85.6

    16.0

    19.7

    87.8

    13.0

    18.6

    10.5

    5.0

    6.0

    Q1 H1 Q1-3 Q1-4 Q1 H1 Q1-3 Q1-4 Q1 H1 Q1-3 Q1-4

    19.7

    期 '25/3期

    ’24/3

    FYE3/’24

    FYE3/’25

    21.0

    '25/10/31 '2

    ’26/3期

    ‘26/3期 予想 6/2/3

    FYE3/’26(F)

    予想

    時点

    2025/10/31 2026/2/3

    9

    M&T: Trends in Revenue and Core Operating Income

  • In Q3 (October–December), revenue decreased but core operating income of the sector increased YoY, reflecting the solid sales at ASK and the sector-wide efforts to reduce fixed costs, despite the negative impact of the U.S. tariff measures at JKHL in the overseas OEM and the Aftermarket Businesses.

Telematics Service Aftermarket OEM

Quarterly

(Billion yen)

FYE3/’24

50.6 50.9 50.6

FYE3/’25

52.1

47.9 48.8

54.4

FYE3/’26

Revenue

Core Operating Income

Annual

Revenue

(Billion yen)

47.3

46.6

48.9

49.0

Core Operating Income

0.4

1.3

1.3

0.8

0.6

1.4

1.6

1.3

1.7

0.9

1.6

199.4 203.2 196.5 199.0

3.9

4.9 5.0

Cumulative

for the quarter

(Billion yen)

Ｑ1 Ｑ2 Ｑ3 Ｑ4 Ｑ1 Ｑ2 Ｑ3 Ｑ4 Ｑ1 Ｑ2 Ｑ3 Ｑ4

FYE3/’24

FYE3/’25

FYE3/’26

199.4

203.2

46.6

1.7

95.4

2.5

Revenue

Core Operating Income

144.4

4.2

148.8

148.8

97.9

96.7

4.9

3.9

3.6

47.3

3.1

47.9

0.4

1.8

0.6

2.0

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

3.9

期 '25/3期

'24/3

FYE3/’24

'25/10/31 '26

’26/3期

‘26/3期 予想 /2/3

FYE3/’25 FYE3/’26(F)

予想

時点

2025/10/31 2026/2/3

10