Summary of Consolidated Financial Results for the Third Quarter Ended December 31, 2025(Unaudited)

Net sales

Operating income

Ordinary income

Profit

attributable to owners of parent

EPS

For the year ending March 31, 2026

Millions of Yen %

Millions of Yen %

Millions of Yen %

Millions of Yen %

Yen

Full year

40,200 59.7

5,300 47.3

5,200 47.3

3,550 44.5

1,450.59

4. Others

(1) Changes in major subsidiaries during the fiscal year (changes in specified subsidiaries accompanying

changes in scope of consolidation) : No

(2) Application of special accounting for preparing quarterly consolidated financial statements : No

(3) Changes in accounting policies, accounting estimates and retrospective restatements in the consolidated financial

statements

1. Changes due to amendment of accounting standards : No

2. Changes due to other reasons : No

3. Changes in accounting estimates : No

4. Retrospective restatements : No

(4) Number of outstanding shares at the end of the period:

1. Number of outstanding shares at the end of the period:

As of December 31, 2025: 2,605,900

As of March 31, 2025: 2,605,900

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

As of December 31, 2025: 155,043

As of March 31, 2025: 158,617

3. Average number of outstanding shares during period:

For the 3rd Quarter ending March 31, 2026: 2,449,261

For the 3rd Quarter ended March 31, 2025: 2,445,895

*Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public

accountants or an audit firm: No

Explanation on appropriate use of business forecasts, and other special notes

The aforementioned forecasts are based on certain assumptions that Company has deemed relevant and

appropriate as of the date of publication.

Actual results may differ materially from the forecast due to many factors.

‌(Thousands of yen)

As of March 31, 2025

As of December 31, 2025

Assets

Current assets

Cash and deposits

2,128,680

3,549,390

Notes and accounts receivable - trade

5,109,073

5,261,872

Merchandise and finished goods

3,823,709

5,166,657

Work in process

404,737

426,815

Raw materials and supplies

3,100,380

3,066,189

Other

423,614

264,541

Allowance for doubtful accounts

(17,346)

(17,391)

Total current assets

14,972,851

17,718,075

Non-current assets

Property, plant and equipment

Buildings and structures, net

2,483,130

2,494,025

Machinery, equipment and vehicles, net

937,612

935,272

Land

1,436,191

1,436,191

Other, net

424,175

647,704

Total property, plant and equipment

5,281,110

5,513,194

Intangible assets

136,406

125,507

Investments and other assets

547,184

589,700

Total non-current assets

5,964,701

6,228,403

Total assets

20,937,553

23,946,478

(Thousands of yen)

As of March 31, 2025

As of December 31, 2025

Liabilities

Current liabilities

Notes and accounts payable - trade

2,388,240

1,837,925

Electronically recorded obligations - operating

333,459

368,467

Short-term borrowings

2,965,100

1,762,656

Income taxes payable

1,121,760

1,347,023

Provision for bonuses

252,515

135,127

Other

481,238

990,876

Total current liabilities

7,542,314

6,442,075

Non-current liabilities

Long-term borrowings

726,400

1,225,168

Retirement benefit liability

365,295

359,345

Asset retirement obligations

38,391

38,783

Other

332,310

336,237

Total non-current liabilities

1,462,397

1,959,534

Total liabilities

9,004,711

8,401,610

Net assets

Shareholders' equity

Share capital

1,018,126

1,018,126

Capital surplus

580,107

597,130

Retained earnings

10,412,225

13,967,902

Treasury shares

(149,730)

(148,152)

Total shareholders' equity

11,860,730

15,435,007

Accumulated other comprehensive income

Valuation difference on available-for-sale

securities

54,382

94,191

Foreign currency translation adjustment

17,728

15,669

Total accumulated other comprehensive income

72,111

109,860

Total net assets

11,932,841

15,544,868

Total liabilities and net assets

20,937,553

23,946,478

(Thousands of yen)

Nine months ended December 31, 2024

Nine months ended December 31, 2025

Net sales

17,334,050

31,490,806

Cost of sales

14,663,436

24,133,400

Gross profit

2,670,614

7,357,406

Selling, general and administrative expenses

914,400

1,093,897

Operating profit

1,756,214

6,263,508

Non-operating income

Dividend income

5,184

7,632

Subsidy income

4,778

8,513

Insurance claim income

8,550

9,107

Other

4,031

11,174

Total non-operating income

22,544

36,427

Non-operating expenses

Interest expenses

28,550

60,049

Foreign exchange losses

30,058

18,930

Care and maintenance costs of suspended mine

13,826

7,516

Other

487

1,199

Total non-operating expenses

72,922

87,695

Ordinary profit

1,705,835

6,212,240

Extraordinary income

Gain on sale of non-current assets

835

-

Total extraordinary income

835

-

Extraordinary losses

Loss on retirement of non-current assets

615

2,977

Total extraordinary losses

615

2,977

Profit before income taxes

1,706,055

6,209,262

Income taxes - current

514,941

1,867,819

Income taxes - deferred

3,303

26,491

Total income taxes

518,244

1,894,310

Profit

1,187,811

4,314,951

Profit attributable to owners of parent

1,187,811

4,314,951

(Thousands of yen)

Nine months ended December 31, 2024

Nine months ended December 31, 2025

Profit

1,187,811

4,314,951

Other comprehensive income

Valuation difference on available-for-sale securities

(110)

39,808

Foreign currency translation adjustment

717

(2,058)

Total other comprehensive income

607

37,749

Comprehensive income

1,188,418

4,352,701

Comprehensive income attributable to

Comprehensive income attributable to owners of

parent

1,188,418

4,352,701

Reportable segments

Others

Total

Reconciling items

Per quarterly consolidated financial statements

Antimony products

Atomized

metal powders

Reportable segments

Sales

Revenues from external customers

23,652,881

7,809,875

31,462,756

28,049

31,490,806

-

31,490,806

Transactions with other segments

-

46,915

46,915

1,218

48,133

(48,133)

-

Net sales

23,652,881

7,856,790

31,509,672

29,268

31,538,940

(48,133)

31,490,806

Operating profit

5,902,616

334,849

6,237,465

1,327

6,238,792

24,715

6,263,508