Makita : 3Q Financial Results

Makita Corporation

Consolidated Financial Results for the nine months

ended December 31, 2025 (IFRS Financial Information)

(English translation of "KESSAN TANSHIN" originally issued in Japanese)

CONSOLIDATED FINANCIAL RESULTS

FOR THE NINE MONTHS ENDED DECEMBER 31, 2025 (Unaudited)

January 29, 2026

Makita Corporation

Stock code: 6586

URL: https://www.makita.biz/

Munetoshi Goto, President, Representative Director

1. Summary operating results for the nine months ended December 31, 2025 (From April 1, 2025 to December 31, 2025)

   1. CONSOLIDATED OPERATING RESULTS

      Yen (millions)

      Revenue ………………………………………

      (%)

      	For the nine months ended December 31, 2024	For the nine months ended December 31, 2025
      			(%)
      		568,778	0.0
      		76,247	(7.4)
      		78,535	(6.2)
      		57,569	(7.2)
      		57,516	(7.0)
      		129,841	77.6

      568,555 3.3

      Operating profit ……………………………… Profit before income taxes ……………………

      82,334

      83,742

      71.4

      81.6

      Profit …………………………………………… Profit attributable to owners of the parent …… Comprehensive income ………………………

      Profit attributable to

      owners of the parent per share

      62,052 91.1

      61,843 89.5

      73,101 1.4

      Yen

      (Basic) 229.88 216.57

      (Diluted) - -Notes:

      1. Amounts of less than one million yen have been rounded.

      2. The table above shows the changes in the percentage ratio of revenue, operating profit, profit before income taxes, profit, profit attributable to owners of the parent, and comprehensive income against the corresponding period of the previous year.

   2. SELECTED CONSOLIDATED FINANCIAL POSITION

   Yen (millions)

   	As of March 31, 2025	As of December 31, 2025
   Total assets		1,106,525	1,194,306
   Total equity		932,495	1,012,889
   Equity attributable to owners of the parent		926,005	1,005,686
   Ratio of equity attributable to owners of the
   parent to total assets (%)		83.7	84.2

   Note: Amounts of less than one million yen have been rounded.

2. Dividend Information

   Cash dividend per share:

   For the year ended March 31, 2025

   Yen

   For the year ending March 31, 2026 (Forecast)

   Interim Year-end Total

   Notes:

   20.00 20.00

   90.00 (Note)

   110.00 (Note)

   1. The forecast for cash dividend announced on April 28, 2025 has not been revised.

   2. The projected amount of dividends for the year ending March 31, 2026 has not been determined yet. For further details, refer to "Explanation regarding proper use of business forecasts, and other significant matters" on page 2.

3. Consolidated Financial Performance Forecast for the year ending March 31, 2026 (From April 1, 2025 to March 31, 2026)

   	Yen (millions)
   		(%)
   Revenue ……………………………………………………………………	760,000	0.9
   Operating profit ……………………………………………………………	100,000	(6.6)
   Profit before income taxes …………………………………………………	100,000	(7.8)
   Profit attributable to owners of the parent …………………………………	73,000	(8.0)
   	Yen
   Profit attributable to
   owners of the parent per share (Basic) ……………………………………	274.87

   Notes:

   1. Changes of the forecasts from the most recent disclosure: Yes

   2. The table above shows the changes in the percentage ratio of revenue, operating profit, profit before income taxes and profit attributable to owners of the parent against the previous year.

4. Other

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

2. Changes in accounting policies and accounting estimates:

   1. Changes in accounting policies required by IFRS: Yes

   2. Changes in accounting policies other than 1: None

   3. Changes in accounting estimate: None

3. Number of shares outstanding (common stock)

Makita's earnings releases (KESSAN TANSHIN) are not subject to an audit. Explanation regarding proper use of business forecasts, and other significant matters

1. The financial forecasts and estimates in this Consolidated Financial Results are based on information available at the time of report issuance and certain assumptions judged to be reasonable, and therefore are not guarantees of future performance.As a consequence of the factors above and other, actual results may vary from the forecasts provided above. Regarding the assumptions for the forecasts and other matters, refer to "SUPPLEMENT INFORMATION (CONSOLIDATED)", "1. Overview of operating results", "(3) Outlook for the fiscal year ending March 31, 2026" on page 4.

Cash dividend per share +

Total amount of purchased treasury shares during the year

Average number of shares outstanding

2 Makita's basic policy on the distribution of profits is to maintain the total return ratio(*) at 35% or greater, with a lower limit on annual cash dividends of 20 yen per share. However, in the event special circumstances arise, computation of the amount of dividends will be based on profit attributable to owners of the parent per share after certain adjustments. The Board of Directors plans to meet in April 2026 for a report on earnings for the year ending March 31, 2026. At the time, in accordance with the basic policy regarding profit distribution mentioned above, the Board of Directors plans to propose a dividend equivalent to at least 35% of total return attributable to owners of the parent. The Board of Directors will submit this proposal to the General Meeting of Shareholders scheduled for June 2026.

*Total return ratio =

Profit attributable to owners of the parent per share (Excluding special factors)

×100

SUPPLEMENT INFORMATION (CONSOLIDATED)

1. Overview of operating results
   1. Overview of operating results for the nine months ended December 31, 2025

      Looking at the international economic situation during the nine-month period ended December 31, 2025, regarding U.S. tariff measures, agreements on tax rates and other terms have been reached in many countries and regions, including Europe and Japan, showing signs of easing trade friction in some part. Meanwhile, negotiations with China are still ongoing, and uncertainty surrounding trade policy has not been fully resolved.

      Under these circumstances, economic activity in various countries showed varying degrees of recovery by region, with

      overall progress remaining gradual. Furthermore, geopolitical uncertainty persisted, particularly in Ukraine and the Middle East, continuing to need for caution in business operations.

      In the Group's consolidated business results for this period, despite slow-moving performance due to housing and restrained investment in the building and construction market in some countries, consolidated revenue remained flat year on year to 568,778 million yen due to the impact of foreign exchange. In terms of profit, although the cost ratio improved due to the impact of foreign exchange and the reduction of various costs, operating profit decreased by 7.4% year on year to 76,247 million yen (operating profit ratio: 13.4%) due to increased sales personnel and higher advertising and promotional expenses. Profit before income taxes decreased by 6.2% year on year to 78,535 million yen (profit before income taxes ratio: 13.8%) and profit attributable to owners of the parent decreased by 7.0% year on year to 57,516 million yen (ratio of profit attributable to owners of the parent: 10.1%).

      Revenue results by region were as follows:

      Revenue by region shows revenue in each market and differs from revenue in Segment Information (based on the source of shipments).

      In Japan, 40Vmax lithium-ion battery series (XGT) and OPE underpinned sales, despite a challenging demand environment, including construction and building materials prices remaining at high levels and a decline in housing starts. As a result, revenue was 97,795million yen, up 3.2% year on year.

      In Europe, although the construction and building market remained sluggish due to continued high interest rates, we have made efforts to expand sales of cordless OPE and the yen depreciated against the local currencies. As a result, revenue was 280,864 million yen, up 0.1% year on year.

      In North America, housing investment was weak due to high interest rates and deterioration of the employment environment.

      Also, market competition has intensified. As a result, revenue was 57,777 million yen, down 12.7% year on year.

      In Asia, although demand for tools remained weak overall as the prolonged property recession in China has spread to neighboring countries, we have made efforts to expand sales of high-value-added products for non-residential sectors such as infrastructure and manufacturing industries. As a result, revenue was 36,187 million yen, up 8.2% year on year.

      In Central and South America, sales continued to be strong in the major countries, and we made efforts to expand sales of XGT series and cordless OPE in various countries. As a result, revenue was 39,216 million, up 1.4% year on year.

      In Oceania, although sales increased primarily due to expanded sales of cordless products, particularly the XGT series, the yen appreciated against the local currencies. As a result, revenue was 42,151 million yen, up 1.6% year on year.

      In the Middle East and Africa, construction and building demand remained strong primarily in oil-producing countries. As a result, revenue was 14,789 million yen, up 9.9% year on year.

   2. Overview of financial situation as of December 31, 2025

      Total assets increased 87,781 million yen from the end of the previous fiscal year to 1,194,306 million yen. This increase was mainly due to the increase in "Cash and cash equivalents" and "Inventories."

      Total liabilities increased 7,387 million yen from the end of the previous fiscal year to 181,418 million yen. This increase was mainly due to the increase in "Deferred tax liabilities."

      Total equity increased 80,394 million yen from the end of the previous fiscal year to 1,012,889 million yen. This increase was mainly due to the change in exchange differences on translating foreign operations included in "Other components of equity."

   3. Outlook for the fiscal year ending March 31, 2026

   Overall, while the demand environment remained challenging during the nine-month period of this fiscal year, we secured sales on par with the previous year through sales promotion activities and other measures. Furthermore, foreign exchange rates are expected to move in a direction favorable to increased revenue and profit compared to our previously announced assumptions. Therefore, we are revising our full-year consolidated earnings forecast.

   Revised forecast for consolidated performance of the fiscal year ending March 31, 2026 (From April 1, 2025, to March 31, 2026)

   Yen (millions) Yen

   									Profit
   							Profit		attributable to
   	Revenue		Operating		Profit before		attributable to		owners of the
   			profit		income taxes		owners of the		parent per share
   							parent		(Basic)
   Forecast announced previously (A) .........	730,000		95,000		95,000		68,500		257.41
   Revised forecast (B) ...............................	760,000		100,000		100,000		73,000		274.87
   Changes (B-A).........................................	30,000		5,000		5,000		4,500		-
   Percentage change ...................................	4.1%		5.3%		5.3%		6.6%		-
   Actual results for the previous year ended March 31, 2025 .............................	753,130		107,038		108,477		79,338		294.90

   The assumed exchange rates applied in the forecast calculation are as follows; [Preconditions]

   The forecast is based on the assumption of exchange rates of 155 yen to the U.S. dollar, 180 yen to the euro and 22.0 yen to the renminbi for the remaining three months period ending March 31, 2026.

   The forecast is based on the assumption of exchange rates of 150 yen to the U.S. dollar, 174 yen to the euro and 21.1 yen to the renminbi for the year ending March 31, 2026.

   [Reference]

   The exchange rates for previously announced forecasts that we announced on October 31, 2025 were 143 yen to the U.S. dollar, 167 yen to the euro and 20.2 yen to the renminbi for the year ending March 31, 2026.

   (Note)

   The above forecast is based on information as available at the present time and includes potential risks and uncertainties. As a consequence of the factors above and other, actual results may vary significantly from the forecast provided above.

   
   
   
2. Consolidated Financial Statements (Unaudited)
   1. Consolidated Statement of Financial Position

      As of March 31, 2025		As of December 31, 2025
      253,279		285,113
      105,831		96,231
      338,116		386,644
      39,660		28,724
      19,552		23,719
      756,437		820,431
      266,609		278,248
      9,574		9,815
      35,881		43,381
      17,710		18,071
      18,123		21,937
      2,191		2,423
      350,088		373,875
      1,106,525		1,194,306

      Yen (millions)

      ASSETS

      CURRENT ASSETS:

      Cash and cash equivalents………………………… Trade and other receivables……………………… Inventories………………………………………… Other financial assets……………………………… Other current assets………………………………

      Total current assets……………………………… NON-CURRENT ASSETS:

      Property, plant and equipment, at cost…………… Goodwill and intangible assets…………………… Other financial assets……………………………… Retirement benefit assets………………………… Deferred tax assets………………………………… Other non-current assets…………………………

      Total non-current assets………………………… Total assets………………………………………………

      Yen (millions)

      As of March 31, 2025		As of December 31, 2025
      54,628		60,233
      10,152		3,317
      6,739		6,481
      13,003		12,428
      6,216		5,924
      48,259		52,719
      138,998		141,103
      3,185		3,588
      15,584		15,812
      1,793		1,804
      14,341		18,491
      104		-
      25		619
      35,032		40,315
      174,030		181,418
      23,805		23,805
      46,014		46,040
      732,556		761,393
      (21,470)		(41,441)
      145,101		215,890
      926,005		1,005,686
      6,490		7,202
      932,495		1,012,889
      1,106,525		1,194,306

      LIABILITIES AND EQUITY LIABILITIES

      CURRENT LIABILITIES:

      Trade and other payables………………………… Borrowings……………………………………… Other financial liabilities………………………… Income taxes payable…………………………… Provisions………………………………………… Other current liabilities…………………………… Total current liabilities…………………………

      NON-CURRENT LIABILITIES:

      Retirement benefit liabilities……………………… Other financial liabilities………………………… Provisions………………………………………… Deferred tax liabilities…………………………… Income taxes payable…………………………… Other non-current liabilities………………………

      Total non-current liabilities…………………… Total liabilities………………………………………… EQUITY

      Share Capital……………………………………… Capital Surplus…………………………………… Retained earnings………………………………… Treasury shares…………………………………… Other components of equity………………………

      Total equity attributable to owners of the parent……… NON-CONTROLLING INTEREST……………………

      Total equity……………………………………………… Total liabilities and equity………………………………

   2. Consolidated Statements of Profit or Loss and Consolidated Statements of Comprehensive Income

      Consolidated Statements of Profit or Loss Yen (millions)
      For the nine months ended December 31, 2024		For the nine months ended December 31, 2025
      REVENUE…………………………………………………	568,555	568,778
      Cost of sales………………………………………………	(365,390)	(361,589)
      GROSS PROFIT……………………………………………	203,166	207,189
      Selling, general, administrative and others, net……………	(120,831)	(130,942)
      OPERATING PROFIT……………………………………	82,334	76,247
      Financial income…………………………………………	5,340	5,661
      Financial expenses…………………………………………	(3,932)	(3,374)
      PROFIT BEFORE INCOME TAXES……………………	83,742	78,535
      Income tax expenses………………………………………	(21,690)	(20,965)
      PROFIT……………………………………………………	62,052	57,569
      Profit attributable to:
      Owners of the parent………………………………………	61,843	57,516
      Non-controlling interests…………………………………	209	53
      Profit attributable to owners of the parent per share (Basic)(yen)…………………	229.88	216.57
      Consolidated Statements of Comprehensive Income Yen (millions)
      	For the nine months	For the nine months
      	ended December 31,	ended December 31,
      	2024	2025
      PROFIT……………………………..………………………	62,052	57,569
      OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX
      Items that will not be reclassified to profit (loss)
      Equity financial goods measured at fair value
      through other comprehensive income (loss)……………	430	6,310
      Total of items that will not be reclassified to profit (loss)…	430	6,310
      Items that may be reclassified to profit or loss
      Exchange differences on translating foreign operations…	10,618	65,962
      Total of items that may be reclassified to profit (loss)………	10,618	65,962
      Total other comprehensive income (loss), net of tax………	11,048	72,272
      COMPREHENSIVE INCOME………………………………	73,101	129,841
      Comprehensive income attributable to:
      Owners of the parent………………………………………	73,181	129,129
      Non-controlling interests…………………………………	(80)	712

   3. Consolidated Statement of Changes in Equity

      Yen (millions)

      For the nine months ended December 31, 2024 Equity attributable to owners of the parent

      Other

      Non-

      Total

      Share capital

      Capital Surplus

      Retained earnings

      Treasury shares

      components of equity

      Total

      Controlling

      interest

      equity

      Balance at April 1, 2024	23,805		45,607		669,359		(21,501)		150,886		868,156		7,050		875,206
      Profit for the period					61,843						61,843		209		62,052
      Other comprehensive income									11,338		11,338		(289)		11,048
      Comprehensive income	-		-		61,843		-		11,338		73,181		(80)		73,101
      Dividends paid					(18,025)						(18,025)				(18,025)
      Additional purchase of shares
      of subsidiaries			404								404				404
      Purchase of treasury shares							(3)				(3)				(3)
      Share-based payment
      transaction			37				23				61				61
      Transfer from other
      components of equity to
      retained earnings					48				(48)		-				-
      Total amounts of transactions with owners	-		441		(17,977)		21		(48)		(17,563)		-		(17,563)
      Balance at December 31, 2024	23,805		46,048		713,226		(21,480)		162,176		923,774		6,970		930,744

      Yen (millions)

      	For the nine months ended December 31, 2025
      	Equity attributable to owners of the parent										Non-Controlling interest		Total equity
      	Share capital	Capital Surplus		Retained earnings		Treasury shares		Other components of equity		Total
      Balance at April 1, 2025	23,805	46,014		732,556		(21,470)		145,101		926,005	6,490		932,495
      Profit for the period				57,516						57,516	53		57,569
      Other comprehensive income								71,613		71,613	659		72,272
      Comprehensive income	-	-		57,516		-		71,613		129,129	712		129,841
      Dividends paid				(29,504)						(29,504)			(29,504)
      Purchase of treasury shares		0				(20,002)				(20,002)			(20,002)
      Disposal of treasury shares						0				0			0
      Share-based payment
      transaction		26				31				57			57
      Transfer from other components of equity to
      retained earnings				824				(824)		-			-
      Others				1						1			1
      Total amounts of transactions with owners	-	27		(28,679)		(19,971)		(824)		(49,447)	-		(49,447)
      Balance at December 31, 2025	23,805	46,040		761,393		(41,441)		215,890		1,005,686	7,202		1,012,889

   4. Consolidated Statements of Cash Flows

      Yen (millions)

      For the nine months ended December 31,	For the nine months ended December 31,
      2024	2025
      CASH FLOWS FROM OPERATING ACTIVITIES:
      Profit…………………………………………………………………… 62,052	57,569
      Depreciation and amortization………………………………………… 22,340	22,408
      Income tax expenses…………………………………………………… 21,690	20,965
      Financial income and expenses………………………………………… (1,408)	(2,287)
      Loss (gain) on sales and retirement of property, plant and equipment… (161)	64
      Decrease (increase) in trade and other receivables…………………… 23,105	18,071
      Decrease (increase) in inventories……………………………………… 3,396	(16,135)
      Increase (decrease) in trade and other payables……………………… 4,682	1,013
      Increase (decrease) in retirement benefit assets and liabilities………… (80)	(363)
      Decrease (increase) in guarantee deposits……………………………… (1,401)	-
      Other…………………………………………………………………… (9,918)	(5,062)
      Subtotal…………………………………………………………… 124,297	96,242
      Dividends received…………………………………………………… 775	910
      Interest received……………………………………………………… 4,705	4,763
      Interest paid…………………………………………………………… (1,027)	(879)
      Income taxes paid……………………………………………………… (17,937)	(25,642)
      Cash flows from operating activities……………………………… 110,813	75,395
      CASH FLOWS FROM INVESTING ACTIVITIES:
      Purchase of non-current assets………………………………………… (15,327)	(16,142)
      Proceeds from sales of non-current assets…………………………… 878	881
      Purchase of investments……………………………………………… (600)	(410)
      Proceeds from sales and redemption of investments………………… 22	2,017
      Payments into time deposits…………………………………………… (30,251)	(69,728)
      Proceeds from withdrawal of time deposits…………………………… 28,463	82,352
      Other…………………………………………………………………… 116	(100)
      Cash flows from investing activities……………………………… (16,699)	(1,129)
      CASH FLOWS FROM FINANCING ACTIVITIES:
      Net increase (decrease) in short-term borrowings……………………… (8,790)	(7,595)
      Purchase and sales of treasury shares, net……………………………… (3)	(20,002)
      Cash dividends paid…………………………………………………… (18,025)	(29,504)
      Repayment of lease liabilities………………………………………… (3,651)	(3,862)
      Other…………………………………………………………………… 6	12
      Cash flows from financing activities……………………………… (30,462)	(60,950)
      EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS……………………………………………… 1,936	18,519
      NET CHANGE IN CASH AND CASH EQUIVALENTS…………… 65,588	31,835
      CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD… 196,645	253,279
      CASH AND CASH EQUIVALENTS, END OF PERIOD…………… 262,233	285,113

   5. Notes to Consolidated Financial Statements
   Notes on the assumptions for a going concern: None Changes in accounting policy:

   The Group has applied the following standards and interpretations from the current fiscal year as follows:

   IFRS	Title	Overview
   IAS 21	The Effects of Changes in Foreign Exchange Rates	A guidance on which exchange rate to use if exchangeability between two currencies was lucking

   The application of the standard, etc. has no material impact on the condensed interim consolidated financial statements.

   Segment Information

   Yen (millions)

   For the nine months ended December 31, 2024

   Revenue:

   External

   Japan Europe North

   America

   Asia Total Other

   Eliminations

   Consolidated

   customers ..........	108,745		282,728		68,288		23,818		483,579		84,976		-		568,555
   Inter-segment ....	214,890		13,583		2,971		212,383		443,827		253		(444,080)		-
   Total .........	323,635		296,311		71,259		236,201		927,406		85,229		(444,080)		568,555
   Operating profit ..........	21,024		27,191		661		22,645		71,521		5,831		4,982		82,334

   For the nine months ended December 31, 2025

   Yen (millions)

   Japan			Europe		North America		Asia		Total		Other		Elimi- nations		Consoli- dated
   Revenue: External customers 112,552			283,711		59,946		26,355		482,564		86,213		-		568,778
   Inter-segment ....	244,279		17,402		5,978		220,790		488,449		282		(488,731)		-
   Total .........	356,832		301,113		65,924		247,145		971,014		86,495		(488,731)		568,778
   Operating profit ..........	32,004		28,078		116		23,301		83,499		4,625		(11,877)		76,247

3. SUPPORT DOCUMENTATION (CONSOLIDATED)

1. Consolidated Financial Results and Forecast

   Yen (millions)

   	For the nine months ended December 31, 2024	For the nine months ended December 31, 2025
   (%) REVENUE…………………………………………………… 568,555 3.3 Domestic………………………………………………… 94,751 3.3 Overseas………………………………………………… 473,804 3.2 Operating profit……………………………………………… 82,334 71.4 Profit before income taxes…………………………………… 83,742 81.6 Profit attributable to owners of the parent…………………… 61,843 89.5 Profit attributable to owners of the parent per share (Yen)… 229.88 Number of Employees……………………………………… 17,588		(%) 568,778 0.0 97,795 3.2 470,983 (0.6) 76,247 (7.4) 78,535 (6.2) 57,516 (7.0) 216.57 17,638

   Yen (millions)

   For the year ended March 31, 2025

   For the year ending March 31, 2026 (Forecast)

   		(%)		(%)
   REVENUE……………………………………………………	753,130	1.6	760,000	0.9
   Domestic…………………………………………………	127,168	3.2	131,000	3.0
   Overseas…………………………………………………	625,962	1.3	629,000	0.5
   Operating profit………………………………………………	107,038	61.8	100,000	(6.6)
   Profit before income taxes……………………………………	108,477	69.5	100,000	(7.8)
   Profit attributable to owners of the parent……………………	79,338	81.6	73,000	(8.0)
   Profit attributable to owners of the parent per share (Yen)…	294.90		274.87
   Number of Employees………………………………………	17,641		-

   Notes:

   1. Please refer to 1. Overview of operating results Section 3 "Outlook for the fiscal year ending March 31, 2026" on page 4.

   2. The table above shows the changes in the percentage ratio of revenue, operating profit, profit before income taxes, and profit attributable to owners of the parent compared to the corresponding period of the previous year.

2. Consolidated Revenue by Geographic Area

   Yen (millions)

   	For the nine months ended December 31, 2024			For the nine months ended December 31, 2025	For the year ended March 31, 2025
   		(%)		(%)	(%)
   Japan …………………………………	94,751	3.3		97,795 3.2	127,168 3.2
   Europe ………………………………	280,594	7.4		280,864 0.1	371,798 4.3
   North America ………………………	66,145	(9.6)		57,777 (12.7)	83,919 (10.4)
   Asia …………………………………	33,441	(2.9)		36,187 8.2	45,031 (2.4)
   Central and South America …………	38,681	4.2		39,216 1.4	50,687 2.0
   Oceania ………………………………	41,483	0.3		42,151 1.6	55,802 (1.0)
   The Middle East and Africa …………	13,460	17.3		14,789 9.9	18,726 18.3
   Total …………………………………	568,555	3.3		568,778 0.0	753,130 1.6

   Notes:

   1. The table above sets forth Makita's consolidated revenue by geographic area based on the customer's location for the periods presented. Accordingly, it differs from "Segment Information" on page 10.

   2. The table shows the changes in the percentage ratio of revenue compared to the corresponding period of the previous year.

3. Exchange Rates

   Yen

   For the nine months ended December 31 2024 USD/JPY ……………………… 152.64 EUR/JPY ……………………… 164.89 RMB/JPY ……………………… 21.16

   For the nine months ended December 31 2025 148.71 171.83 20.77

   For the year For the year ended ending March 31, March 31, 2026 2025 (Forecast) 152.62 150 163.88 174 21.11 21.1

4. Production Ratio (unit basis)

   For the nine months ended December 31, 2024 Composition ratio Domestic 7.2% Overseas 92.8%

   For the nine months ended December 31, 2025 Composition ratio 7.5% 92.5%

   For the year ended March 31, 2025 Composition ratio 7.4% 92.6%

5. Consolidated Capital Expenditures, Depreciation and Amortization, and R&D costs

Yen (millions)