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

Consolidated Financial Results

for the Nine Months Ended December 31, 2025 [Japanese GAAP]

February 6, 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 commencing dividend payments: -

Availability of supplementary briefing material on financial results: Available Schedule of financial results briefing session: Not scheduled

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

1. Consolidated Financial Results for the Nine Months Ended December 31, 2025 (April 1, 2025 to December 31, 2025)

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

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Nine months ended December 31, 2025 December 31, 2024	Millions of yen 111,017 103,993	% 6.8 2.6	Millions of yen 3,161 2,746	% 15.1 16.0	Millions of yen 3,567 3,187	% 11.9 10.0	Millions of yen 2,802 2,350	% 19.2 9.8

      (Note) Comprehensive income:	Nine months ended December 31 2025:	¥ 4,635 million [	75.0 %]
      	Nine months ended December 31, 2024:	¥ 2,648 million [	(29.9)%]

      	Net profit per share	Diluted net profit per share
      Nine months ended	Yen	Yen
      		-
      December 31, 2025	334.76
      December 31, 2024	282.09	-

      (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
      As of December 31, 2025 March 31, 2025	Millions of yen 99,755 83,098	Millions of yen 34,078 30,229	% 34.1 36.4

      (Reference) Equity: As of December 31, 2025:	¥	34,058 million
      As of March 31, 2025:	¥	30,212 million

2. Dividends

   	Annual dividends
   	1st quarter-end	2nd quarter-end	3rd quarter-end	Year-end	Total
   Fiscal year ended March 31, 2025 Fiscal year ending March 31, 2026	Yen	Yen	Yen	Yen	Yen
   	- -	45.00 50.00	- -	52.00	97.00
   Fiscal year ending March 31, 2026 (Forecast)				50.00	100.00

   (Note) Revisions to the forecast of cash dividends most recently announced: No

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

(% 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. Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:

   No

3. 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

4. Total number of issued shares (common shares)

   1. Total number of issued shares at the end of the period (including treasury shares): December 31, 2025: 9,008,800 shares

      March 31, 2025: 9,008,800 shares

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

      December 31, 2025: 607,251 shares

      March 31, 2025: 676,431 shares

   3. Average number of shares outstanding during the period:

Nine months ended December 31, 2025: 8,370,795 shares

Nine months ended December 31, 2024: 8,332,496 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.

*Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: Yes (voluntary)

*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. Qualitative Information on the Quarterly Financial Results

1. Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information" on page 3.

   Attachment Table of Contents

   1. Qualitative Information on the Quarterly Financial Results 2

      1. Explanation of Business Results 2

      2. Explanation of Financial Position 3

      3. Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information 3

   2. Quarterly Consolidated Financial Statements 4

      1. Quarterly Consolidated Balance Sheets 4

      2. Quarterly Consolidated Statements of Income and Comprehensive Income 6

         Quarterly Consolidated Statements of Income 6

         Nine Months Ended December 31 6

         Quarterly Consolidated Statements of Comprehensive Income 7

         Nine Months Ended December 31 7

      3. Notes to Quarterly Consolidated Financial Statements 8

Notes on Going Concern Assumption 8

Notes on Significant Changes in the Amount of Shareholders' Equity 8

Segment Information by Business Type 9

Notes to Quarterly Consolidated Statements of Cash Flows 10

Independent Auditor's Interim Review Report on Quarterly Consolidated Financial Statements 11

1

1. Qualitative Information on the Quarterly Financial Results

(1) Explanation of Business Results

In the nine months ended December 31, 2025, the Japanese economy as a whole continued to recover moderately, with signs of improvement in the employment and income environment. However, uncertainty regarding the economic outlook persists, partly due to the impact of sluggish consumer sentiment caused by continuing price hikes, in addition to prolonged geopolitical risks, and trends in domestic and international monetary policies.

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 a certain upward effect from inbound tourism demand. However, the environment surrounding the business remains severe 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 nine months ended December 31, 2025 totaled 111,017 million yen (an increase of 7,024 million yen year on year), operating profit totaled 3,161 million yen (an increase of 414 million yen year on year), ordinary profit totaled 3,567 million yen (an increase of 380 million yen year on year), and profit attributable to owners of parent was 2,802 million yen (an increase of 451 million yen year on year) on a consolidated basis.

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 a decrease in sales volume associated with price increases for fish paste products, as well as sluggish surimi production in South America. In the fresh frozen seafood products section, despite efforts in commercial and restaurant sales, which were strong due to inbound tourism demand, crab sales to mass merchandisers remained low due to soaring raw material prices. As a result, both sales and operating profit were almost the same as in the same period a year before. For frozen fish from northern waters, both sales and operating profit increased significantly, as sales of Pacific ocean perch and Atka mackerel to China continued to perform well. Although sales of Pollock roe products to mass merchandisers struggled, resulting in a decline in sales, operating profit increased 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 was almost the same as in the same period a year before 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 72,863 million yen (an increase of 4,412 million yen year on year), and operating profit totaled 1,994 million yen (a decrease of 167 million yen year on year).

Marine Business

In the fishing net and fishing gear section, sales of fishing gear for purse seine fishing and overseas sales of ground nets were strong, resulting in an increase in both sales and operating profit. In the ship and machinery section, sales of ship equipment grew but sales of ship supplies and accessories were sluggish. As a result, sales and operating profit were almost the same as in the same period a year before. In the aquaculture section, sales of aquaculture cages, aquaculture-related machinery and materials, and feed were strong, 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 18,662 million yen (an increase of 1,271 million yen year on year), and operating profit totaled 906 million yen (an increase of 284 million yen year on year).

Machinery Business

In the machinery business, sales and operating profit both increased in Japan as a result of a wide-ranging capital investment projects aimed at capturing inbound tourism demand and optimizing production efficiency, mainly in the food services industry and for commercial use.

Outside Japan, sales and operating profit both increased as sales expanded in the United States and Asia on the back of the prevailing trend of a weaker yen.

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