Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (Japanese GAAP)

Consolidated Financial Results

for the Fiscal Year Ended March 31, 2026 [Japanese GAAP]

May 15, 2026

Company name: NICHIMO CO., LTD. Stock exchange listing: Tokyo

Code number: 8091

URL: https://www.nichimo.co.jp/english/

Representative: Shinya Aoki, President, Representative Director

Contact: Akinobu Kojima, Director, Executive Officer in charge of administrative section Phone: +81-3-3458-3535

Scheduled date of Annual General Meeting of Shareholders: June 26, 2026

Scheduled date of commencing dividend payments: June 29, 2026 Scheduled date of filing annual securities report: June 25, 2026

Availability of supplementary briefing material on financial results: Available

Schedule of financial results briefing session: Scheduled (for institutional investors and analysts)

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

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (April 1, 2025 to March 31, 2026)

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

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Fiscal year ended March 31, 2026 March 31, 2025	Millions of yen 139,779 133,900	% 4.4 4.8	Millions of yen 2,758 3,002	% (8.1) 48.6	Millions of yen 3,018 3,601	% (16.2) 40.6	Millions of yen 2,180 2,666	% (18.2) 13.5

      (Note) Comprehensive income:	Fiscal year ended March 31, 2026:	¥	4,824 million	[	88.6 %]
      	Fiscal year ended March 31, 2025:	¥	2,557 million	[	(39.6)%]

      	Net profit per share	Diluted net profit per share	Rate of return on equity	Ordinary profit to total assets ratio	Operating profit to net sales ratio
      Fiscal year ended	Yen	Yen	%	%	%
      March 31, 2026	260.23	-	6.8	3.5	2.0
      March 31, 2025	320.06	-	9.1	4.4	2.2

      (Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2026:	¥	361 million
      Fiscal year ended March 31, 2025:	¥	674 million

      (Note) Diluted net profit per share is not shown, due to the absence of residual shares.

   2. Consolidated Financial Position

      	Total assets	Net assets	Equity ratio	Net assets per share
      As of March 31, 2026 March 31, 2025	Millions of yen 90,522 83,098	Millions of yen 34,267 30,229	% 37.8 36.4	Yen 4,076.30 3,625.90

      (Reference) Equity: As of March 31, 2026:	¥	34,247 million
      As of March 31, 2025:	¥	30,212 million

   3. Consolidated Cash Flows

   	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at the end of period
   Fiscal year ended March 31, 2026 March 31, 2025	Millions of yen (1,162) (1,345)	Millions of yen (1,005) (1,980)	Millions of yen 3,031 1,186	Millions of yen 6,415 5,514

2. Dividends

   	Annual dividends					Total dividends	Payout ratio (consolidated)	Dividends to net assets (consolidated)
   	1st quarter-end	2nd quarter-end	3rd quarter-end	Year-end	Total
   Fiscal year ended March 31, 2025 March 31, 2026	Yen - -	Yen 45.00 50.00	Yen - -	Yen 52.00 50.00	Yen 97.00 100.00	Millions of yen 830 858	% 30.3 38.4	% 2.8 2.6
   Fiscal year ending March 31, 2027 (Forecast)	-	50.00	-	50.00	100.00		32.2

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2027 (April 1, 2026 to March 31, 2027)

(% indicates changes from the previous corresponding period.)

(Note) Revisions to the forecast of financial results most recently announced: No

* Notes:

1. Significant changes in the scope of consolidation during the period: No

   New	- (Company name:	)
   Exclusion:	- (Company name:	)

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

   1. Changes in accounting policies due to revision of accounting standards and other regulations: No

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

   3. Changes in accounting estimates: No

   4. Retrospective restatement: No

3. Total number of issued shares (common shares)

   1. Total number of issued shares at the end of the period (including treasury shares): March 31, 2026: 9,008,800 shares

      March 31, 2025: 9,008,800 shares

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

      March 31, 2026: 607,251 shares

      March 31, 2025: 676,431 shares

   3. Average number of shares outstanding during the period:

Fiscal Year ended March 31, 2026: 8,378,483 shares

Fiscal Year ended March 31, 2025: 8,332,464 shares

(Note)

The Company has introduced a stock compensation plan for Directors, and treasury shares at the end of the period include the Company shares held by the trust account. These shares are included in the number of shares deducted from the average number of shares outstanding during the period.

(Reference) Summary of Non-consolidated Financial Results

1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (April 1, 2025 to March 31, 2026)

1. Non-consolidated Operating Results (% indicates changes from the previous corresponding period.)

   	Net sales		Operating profit		Ordinary profit		Net profit
   Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
   March 31, 2026	77,149	1.0	1,311	(15.6)	1,921	(9.2)	1,134	(19.4)
   March 31, 2025	76,387	7.1	1,554	51.7	2,116	24.6	1,406	24.7

   	Net profit per share	Diluted net profit per share
   Fiscal year ended	Yen	Yen
   March 31, 2026	134.58	-
   March 31, 2025	167.82	-

   (Note) Diluted net profit per share is not shown, due to the absence of residual shares.

2. Non-consolidated Financial Position

   	Total assets	Net assets	Equity ratio	Net assets per share
   As of March 31, 2026 March 31, 2025	Millions of yen 59,666 57,097	Millions of yen 20,022 17,682	% 33.6 31.0	Yen 2,369.66 2,109.98

   (Reference) Equity: As of March 31, 2026:	¥	20,022 million
   As of March 31, 2025:	¥	17,682 million

   *Financial results are not subject to audit by a certified public accountant or auditing firm.

   *Explanation of appropriate use of financial results forecast and other notes

   The forward-looking statements contained in this document are based on information currently available to the Company and certain assumptions that the Company deems reasonable, and they are not intended to promise that the Company will achieve the goals mentioned in those statements. Actual results may differ significantly due to various factors. For the assumptions on which the forecast is based and notes for the use of financial results forecasts, please refer to "1. Overview of Business Results, etc. (4) Future Outlook" on page 4.

   Attachment Table of Contents

   1. Overview of Business Results, etc 2

      1. Overview of Business Results for the Fiscal Year Ended March 31, 2026 2

      2. Overview of Financial Position for the Fiscal Year Ended March 31, 2026 3

      3. Overview of Cash Flows for the Fiscal Year Ended March 31, 2026 3

      4. Future Outlook 4

   2. Basic Views on Selection of Accounting Standards 4

   3. Consolidated Financial Statements 5

      1. Consolidated Balance Sheets 5

      2. Consolidated Statements of Income and Comprehensive Income

         Consolidated Statements of Income 7

         Consolidated Statements of Comprehensive Income 8

      3. Consolidated Statements of Changes in Net Assets 9

      4. Consolidated Statements of Cash Flows 11

      5. Notes to Consolidated Financial Statements 13

Notes on Going Concern Assumption 13

Segment Information by Business Type 13

Per Share Information 16

Significant Subsequent Events 16

1

1. Overview of Business Results, etc.

(1) Overview of Business Results for the Fiscal Year Ended March 31, 2026

In the consolidated fiscal year under review, the Japanese economy as a whole continued to recover moderately against the backdrop of improvement in the employment and income environment, while there were signs of a downward risk to consumer sentiment due to factors such as price hikes. Meanwhile, the economic outlook remained difficult to predict due to prolonged instability in the international situation.

In such an economic environment, the fishery, seafood processing and distribution, and food products industries, which form the operating base of the Nichimo Group (the "Group"), have seen the establishment of inbound tourism demand. Meanwhile, in addition to the growing polarization of consumption partly due to uncertainties in the external environment, the business remains under severe conditions due to factors such as high manufacturing costs, unstable raw material prices, and the impact of rising ocean temperatures on catches in recent years.

Under such circumstances, the Group, during the first year of its three-year management plan, the "Fiscal 2026 Medium-Term Management Plan (Breaking Through Toward 2028)," has set out "From Ocean To Dining, Challenges For The Better Future" as its Purpose, and has been promoting sales activities with the aim of becoming a company that creates new value into the future using the technology and services gained over many years of experience.

As a result, net sales for the consolidated fiscal year under review totaled 139,779 million yen (an increase of 5,878 million yen year on year), operating profit stood at 2,758 million yen (a decrease of 243 million yen year on year), and ordinary profit totaled 3,018 million yen (a decrease of 583 million yen year on year).

As for extraordinary income and losses, the Group recorded extraordinary income of 262 million yen and extraordinary losses of 301 million yen. As a result, profit attributable to owners of parent totaled 2,180 million yen (a decrease of 486 million yen year on year).

The following is a summary of the business according to segments.

Food Business

In the surimi (fish paste) section, sales and operating profit both decreased significantly due to sluggish domestic market conditions, as well as surimi production in South America not proceeding as planned. In the fresh frozen seafood products section, sales increased due to strong sales of commercial and restaurant crab, which were strong due to inbound tourism demand, and mail-order crab sales. However, operating profit was almost the same as the previous fiscal year due to soaring raw material prices as well as an increase in manufacturing costs. For frozen fish from northern waters, both sales and operating profit increased significantly as a result of the Company's focus on sales of Pacific ocean perch and Atka mackerel to China, without missing the opportunity presented by growing global demand. Although sales of Pollock roe products to mass merchandisers struggled, resulting in a decline in sales, operating profit was almost the same as the previous fiscal year as a result of efforts to secure profits through a review of production efficiency. In the processed food products section, sales increased due to strong sales of commercial products, including salmon and trout sushi toppings. However, operating profit decreased due to the impact of high manufacturing costs caused by soaring raw material prices.

As a result of the above factors, net sales for the food business totaled 89,848 million yen (an increase of 5,745 million yen year on year), and operating profit totaled 1,660 million yen (a decrease of 293 million yen year on year).

Marine Business

In the fishing net and fishing gear section, sales of various fishing gear were strong, including fishing gear for purse seine fishing, and overseas sales of ground nets were also favorable, resulting in an increase in both sales and operating profit. In the ship and machinery section, sales of ship equipment grew due to shipbuilding demand in some sectors. As a result, sales and operating profit both increased. In addition, in the aquaculture section as well, sales were strong mainly for aquaculture cages, and aquaculture-related machinery and materials, driven by rising demand for farmed fish due to a slump in catches of wild fish, leading to increases in both sales and operating profit.

As a result of the above factors, net sales for the marine business totaled 24,555 million yen (an increase of 2,177 million yen year on year), and operating profit totaled 1,072 million yen (an increase of 317 million yen year on year).

Machinery Business

2