Consolidated Financial Results for the nine Months Ended December 31, 2025 (Under Japanese GAAP)

January 30, 2026

Company name: Marvelous Inc. Listing: Tokyo Stock Exchange Securities code: 7844

URL: https://corp.marv.jp/english/index.html Representative: Shinichi Terui President

Inquiries: Chihiro Noguchi Director, Supervisor of Administration E-mail: ir@marv.jp

Scheduled date to commence dividend payments: -Preparation of supplementary material on financial results: Yes Holding of financial results briefing: None

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

1. Consolidated financial results for the nine months ended December 31, 2025 (from April 1, 2025 to December 31, 2025)
   1. Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Nine months ended December 31, 2025 December 31, 2024	Millions of yen 29,121 20,720	% 40.5 (4.8)	Millions of yen 1,776 1,566	% 13.4 12.6	Millions of yen 2,129 1,656	% 28.6 (5.2)	Millions of yen 1,548 1,029	% 50.4 (12.4)

      Note: Comprehensive income	For the nine months ended December 31, 2025:	¥	1,713 million [	47.9%]
      	For the nine months ended December 31, 2024:	¥	1,158 million [	(25.7) %]

      	Basic earnings per share	Diluted earnings per share
      Nine months ended	Yen	Yen
      December 31, 2025	25.56	-
      December 31, 2024	16.99	-

   2. Consolidated financial position

   	Total assets	Net assets	Equity-to-asset ratio	Net assets per share
   As of December 31, 2025 March 31, 2025	Millions of yen 35,669 32,903	Millions of yen 27,292 26,187	% 76.4 79.5	Yen 449.84 431.60

   Reference: Equity

   As of December 31, 2025:	¥	27,248 million
   As of March 31, 2025:	¥	26,143 million

2. Cash 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	-	0.00	-	10.00	10.00
   Fiscal year ending March 31, 2026	-	0.00	-
   Fiscal year ending March 31, 2026 (Forecast)				12.00	12.00

   Note: Revisions to the forecast of cash dividends most recently announced: None

3. Consolidated financial result forecasts for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)

(Percentages indicate year-on-year changes.)

Note: Revisions to the financial result forecast most recently announced: None

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

2. Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes

   Note: For more information, see Appendix, p. 5, '2. Quarterly Consolidated Financial Statements and Primary Notes (3) Notes to Quarterly Consolidated Financial Statements (Notes on Special Accounting for Preparing the Quarterly Consolidated Financial Statements)'.

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

   1. Changes in accounting policies due to revisions to accounting standards and other regulations: None

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

   3. Changes in accounting estimates: None

   4. Restatement: None

4. Number of issued shares (common shares)

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

      As of December 31, 2025	62,216,400 shares
      As of March 31, 2025	62,216,400 shares

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

      As of December 31, 2025	1,643,241 shares
      As of March 31, 2025	1,643,231 shares

   3. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

• Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: No

• Proper use of earnings forecasts, and other special matters

The forecasts and other forward-looking statements contained in this document are based on information currently available to the Company and certain assumptions deemed to be reasonable.

1. Operating Results Overview 2

   1. Overview of Operating Results for the Period 2

   2. Overview of Financial Position for the Period 2

   3. Explanation Regarding Consolidated Projections and Other Forward-Looking Statements 2

2. Consolidated Financial Statements and Significant Notes 3

   1. Consolidated Balance Sheets 3

   2. Consolidated Statements of Income and Comprehensive Income 5

   3. Notes to Quarterly Consolidated Financial Statements 6

(Notes on Special Accounting for Preparing the Quarterly Consolidated Financial Statements) 6

(Notes on Segment Information, Etc.) 7

(Notes on Significant Changes in the Amount of Shareholdersʼ Equity) 7

(Notes on Premise of Going Concern) 7

(Notes on Quarterly Consolidated Statements of Cash Flows) 8

1. Operating Results Overview

   1. Overview of Operating Results for the Period

      The summary of business results for the nine-month period ended December 31, 2025 has been made available in the results briefing materials released today (January 30, 2026) on TDnet and the Company's website (https://corp.marv.jp/english/index.html). Please refer to "Fiscal Year Ending March 2026, Third Quarter Results Summary" on page 3 and "Segment Results and Future Development" on page 5 of the results briefing materials via the TDnet or our website.

   2. Overview of Financial Position for the Period

      The summary of financial results for the nine-month period ended December 31, 2025 has been made available in the results briefing materials released today (January 30, 2026) on TDnet and the Company's website (https://corp.marv.jp/english/index.html). Please refer to "Balance Sheet" on page 19 of the results briefing materials via the TDnet or our website.

   3. Explanation Regarding Consolidated Projections and Other Forward-Looking Statements

   Ordinary profit and quarterly profit attributable to owners of parent for the nine months ended December 31, 2025, have exceeded the consolidated financial results forecast for the fiscal year ending March 31, 2026, which was announced on May 9, 2025. However, since the future business environment, including foreign exchange trends, remains uncertain, the Company has not revised its consolidated financial results forecast at this time.

2. ‌Consolidated Financial Statements and Significant Notes

‌(1) Consolidated Balance Sheet

(Millions of yen)

As of March 31, 2025 As of December 31, 2025

Assets

Current assets

(Millions of yen) As of March 31, 2025 As of December 31, 2025

Comprehensive income attributable to owners of parent

1,166 1,713

Comprehensive income attributable to non-controlling interests

(7)

0

‌(3) Notes to Consolidated Financial Statements

(Notes on Special Accounting for Preparing the Quarterly Consolidated Financial Statements) (Calculation of taxes)

Taxes are calculated first by reasonably estimating the effective tax rate after applying tax effect accounting against profit before income taxes for the fiscal year including the quarterly period (nine months), and then by multiplying the profit before income taxes by such estimated effective tax rate.

(Notes on Segment Information, Etc.) [Segment Information]

Nine Months Ended December 31, 2024 (From April 1, 2024 to December 31, 2024)

Information regarding the amounts of net sales and profit/loss by reportable segment

(Millions of yen)

Note: 1. The adjustment of ¥1,318 million to segment profit represents corporate expenses not allocated to any reportable segment and mainly consists of general and administrative expenses that are not attributable to any reportable segment.

2. Segment profit is reconciled with operating profit presented in the Quarterly Consolidated Statement of Income and Comprehensive Income.

Nine Months Ended December 31, 2025 (From April 1, 2025 to December 31, 2025)

Information regarding the amounts of net sales and profit/loss by reportable segment

(Millions of yen)

Note: 1. The adjustment of ¥1,300 million to segment profit (loss) represents corporate expenses not allocated to any reportable segment and mainly consists of general and administrative expenses that are not attributable to any reportable segment.

2. Segment profit (loss) is reconciled with operating profit presented in the Quarterly Consolidated Statement of Income and Comprehensive Income.

(Notes on Significant Changes in the Amount of Shareholdersʼ Equity)

Not applicable.

(Notes on Premise of Going Concern) Not applicable.

(Notes on Quarterly Consolidated Statements of Cash Flows)

Quarterly consolidated statements of cash flows for the third quarter (nine months) of the fiscal year ending March 31, 2026 are not prepared. Depreciation (including amortization related to intangible assets excluding goodwill) for the third quarter (nine months) of the fiscal year ended March 31, 2025 and the fiscal year ending March 31, 2026 are as follows.

Nine Months Ended December 31, 2024

(From April 1, 2024 to December 31, 2024)

(Millions of yen) Nine Months Ended December 31, 2025

(From April 1, 2025 to December 31, 2025)

Depreciation 924 1,050