Consolidated Financial Results for the First Quarter of the Fiscal Year Ended November 30, 2026PDF

Consolidated Financial Results for the Three Months of the Fiscal Year Ending November 30, 2026 [Japanese GAAP]

April 14, 2026

Company name: MORITO CO., LTD. Stock exchange listing: Tokyo Stock Exchange

Code number: 9837 URL: https://www.morito.co.jp Representative: Takaki Ichitsubo, Representative Director, CEO

Kiyomi Akui, Director, Senior Executive Officer, General Manager of

Contact:

Corporate Management Department and Division Manager of Corporate Administrative Division

(Phone) +81-6-6252-3551

-

Scheduled date of commencing dividend payments:

Availability of supplementary briefing material on financial results : Available Schedule of financial results briefing session : None scheduled

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Three Months of the Fiscal Year Ending November 30, 2026 (December 1, 2025 to February 28, 2026)

   1. Consolidated Operating Results (% indicates changes from the previous corresponding period.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Three months ended February 28, 2026 Three months ended February 28, 2025	Millions of yen 16,681 12,161	% 37.2 3.6	Millions of yen 1,038 617	% 68.1 (6.8)	Millions of yen 1,046 689	% 51.8 2.9	Millions of yen 660 601	% 9.8 6.5

      Three months (Note) Comprehensive income: ended February 28,

      2026

      Three months 2,212 million yen[ 40.7%] ended February 28,

      2025

      1,573 million yen[ -%]

      	Basic earnings per share	Diluted earnings per share
      	Yen	Yen
      Three months ended February 28, 2026	25.97	-
      Three months ended February 28, 2025	22.93	-

   2. Consolidated Financial Position

   	Total assets	Net assets	Equity ratio
   Three months ended February 28, 2026 FY2025	Millions of yen 57,210 55,498	Millions of yen 40,526 39,832	% 70.8 71.8

   February 28, 2026

   (Reference) Equity: Three months ended 40,526 million yen FY2025 39,832 million yen

2. Dividends

   	Annual dividends
   	1st quarter-end	2nd quarter-end	3rd quarter-end	Year-end	Total
   FY2025 FY2026	Yen - -	Yen 33.00	Yen -	Yen 37.00	Yen 70.00
   FY2026(Forecast)		36.00	-	36.00	72.00

   (Note) Revision to the latest announcement of dividend forecast : None

3. Consolidated Financial Results Forecast for the Fiscal Year Ending November 30, 2026 (December 1, 2025 to November 30, 2026)

(% indicates changes from the previous corresponding period.)

(Note) Revision to the latest announcement of performance forecast : None

Notes:

1. Significant changes in the scope of consolidation during the period : No Newly included: None

   Excluded: None

2. Adoption of special accounting treatment for preparing quarterly consolidated financial statements

   : No

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

   1. Changes in accounting policies due to the revision of accounting standards : No

   2. Changes in accounting policies other than 1) above : No

   3. Changes in accounting estimates : No

   4. Retrospective restatement : No

4. Total number of issued shares (common shares)

   February 28, 2026:	26,800,000	November 30, 2025:	26,800,000
   February 28, 2026:	1,513,449	November 30, 2025:	1,204,249
   For the three months of the fiscal year ending November 30, 2026:	25,420,901	For the three months of the fiscal year ended November 30, 2025:	26,215,626

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

   2. Total number of treasury shares at the end of the period:

   3. Average number of shares during the period:

Review of the accompanying quarterly consolidated financial statements

• by a certified public accountant or auditing firm

• Explanation of the proper use of financial results forecast and other notes

: No

The earnings forecasts and other forward-looking statements herein are based on information currently available and certain assumptions judged to be reasonable. Actual results may differ significantly from these forecasts due to a wide range of factors.

As for suppositions that form the assumptions for the forecast of financial results and cautionary notes concerning the use thereof, please refer to "(3) Forecast of Consolidated Business Results and other Forward-looking Information" in "1. Overview of Business Results, Etc." on page 4.

The Company and some of the MORITO Group companies have introduced the "Japanese version of the employee stock ownership plan (J-ESOP)" and the "officer remuneration board incentive plan (BIP) trust." Consequently, the shares of the Company held by Custody Bank of Japan, Ltd. (trust account E) and The Master Trust Bank of Japan, Ltd. (officer remuneration BIP trust account), respectively, are included in treasury shares.

Table of Contents

1. Overview of Business Results, Etc............................................................................................................. 2

   1. Overview of Business Results for the Period under Review.............................................................. 2

   2. Overview of Financial Position for the Period under Review 4

   3. Forecast of Consolidated Business Results and other Forward-looking Information 4

2. Quarterly Consolidated Financial Statements and Primary Notes............................................................. 5

   1. Quarterly Consolidated Balance Sheets............................................................................................ 5

   2. Quarterly Consolidated Statements of Income and Comprehensive Income.................................... 7

      Quarterly Consolidated Statements of Income.................................................................................. 7

      Quarterly Consolidated Statements of Comprehensive Income........................................................ 8

   3. Notes to the Quarterly Consolidated Financial Statements............................................................... 9

(Segment Information, Etc.)................................................................................................................ 9

(Notes on Significant Changes in the Amount of Shareholders' Equity) 11

(Notes on Going Concern Assumption) 11

(Notes on statements of Quarterly Consolidated Statements of Income) 11

(Notes on statements of Quarterly Consolidated Cash Flows) 11

1. Overview of Business Results, Etc.

(1) Overview of Business Results for the Period under Review

The first three months of the fiscal year ending November 30, 2026 (December 1, 2025, to February 28, 2026) saw the Japanese economy continue to grow at a moderate pace due to the improvement in the job market and the earnings environment. On the downside, the outlook for the future remains uncertain due to the impact of financial and capital market fluctuations, soaring resource and raw material prices, trends in the U.S. and Chinese economies, and heightened geopolitical risks. Working against this backdrop, the MORITO Group (the "Group"), which is mainly engaged in the apparel, product, and transportation businesses, faced an uphill battle. This was due to stagnant demand for fall apparel caused by the lingering summer heat as well as the sluggish performance of Japanese automotive manufacturers in China. On the upside, net sales increased due to the consolidation of Ms.ID Inc. and Mitsuboshi Corporation Co., Ltd., strong sales of health- and game-related products, and the robust performance of the kitchen appliance-related services business. Under its "Rideeco®" initiative aimed at realizing a sustainable society, the Group moved forward with the development and sales of MURON®, a fiber made entirely from discarded fishing nets collected in Japan, and ASUKAMI®, a blended paper made using fabric scraps from the sewing factories.

As a result, for the three months of the fiscal year under review, net sales increased 37.2% year on year to 16,681 million yen. Operating profit was up 68.1% to 1,038 million yen, ordinary profit grew 51.8% to 1,046 million yen, and profit attributable to owners of the parent increased 9.8% to 660 million yen.

Exchange rates used for the conversion of revenue and expenses of the Group's overseas subsidiaries during the preparation of consolidated financial statements for the three months of the fiscal year under review are as follows.

(Note) The exchange rate of the same period in the previous fiscal year is stated in parentheses.

Business results by segment are as follows.

Effective from the previous fiscal year, the Group has changed the classification of its reportable segments. For details, please refer to "3. Matters related to changes in reportable segments, etc." in "Notes to the Quarterly Consolidated Financial Statements (Segment Information, Etc.)."

Japan

In the Apparel Division, sales of silver accessories, uniform-related materials, and accessories for high-end bags increased although sales of materials for fashion apparel remained slow due to weak demand for fall season products.

The Product Division enjoyed an increase in sales of health-related products, stationery- and game-related products, and products designed to beat the summer heat, as well as higher revenues for the kitchen appliance rental, sales, and cleaning business, despite weaker sales of action sports-related products.

In the Transportation Division, sales of automotive interior components to Japanese automotive manufacturers rose.

As a result, net sales increased 48.3% year on year to total 12,652 million yen, and segment profit rose 55.5% year on year to reach 859 million yen.

Asia

The Apparel Division enjoyed growing sales of casual wear accessories in China as well as athletic shoe accessories in Vietnam.

In the Transportation Division, sales of automotive interior components to Japanese automotive manufacturers fell.

As a result, net sales reached 14.0% year on year to total 2,311 million yen, and segment profit increased 46.1% year on year to total 226 million yen.

Europe and the U.S.

The Apparel Division saw sales of medical wear accessories increase in the U.S.

In the Transportation Division, sales of automotive interior components to Japanese automotive manufacturers increased in Europe.

As a result, net sales grew 7.3% year on year to total 1,717 million yen, and segment profit came to 112.8% year on year to reach 97 million yen.