NIKKON : (Updated) Consolidated Financial Results for the Six Months Ended September 30, 2025(Under Japanese GAAP)

Company name: NIKKON Holdings Co., Ltd. Listing: Tokyo Stock Exchange

Securities code: 9072 URL: https://www.nikkon-hd.co.jp

Representative: President and Representative Director Masakatsu Kuroiwa Representative Director and Managing

November 7, 2025

Inquiries:

Executive Officer

Yasunori Matsuda Telephone: +81-3-3541-5330

Scheduled date to file Semi-annual Securities Report: November 13, 2025 Scheduled date to commence dividend payments: December 10, 2025 Preparation of supplementary material on financial results: None

Holding of financial results briefing: Yes

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

1. Consolidated financial results for the six months ended September 30, 2025 (from April 1, 2025 to September 30, 2025)

   (1) Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)

   	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
   Six months ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
   September 30, 2025	131,912	9.6	10,772	(6.6)	11,048	1.0	7,201	6.8
   September 30, 2024	120,361	11.1	11,537	11.8	10,941	(7.0)	6,744	(15.5)

   Note: Comprehensive income For the six months ended September 30, 2025:	¥7,632 million	[58.0%]
   For the six months ended September 30, 2024:	¥4,831 million	[(68.0)%]

   	Basic earnings per share	Diluted earnings per share
   Six months ended	Yen	Yen
   September 30, 2025	59.62	54.65
   September 30, 2024	53.72	53.63

   Notes: 1. The Company has conducted a stock split at the ratio of two shares to one share as of October 1, 2024. "Basic earnings per share" and "diluted earnings per share" are calculated on the assumption that the said share split was conducted at the beginning of the previous fiscal year.

2. At the end of the fiscal year ended March 31, 2025, the provisional accounting treatment for business combinations was finalized. Accordingly, figures for the fiscal year ended March 31, 2025 reflect the content of the finalized provisional accounting treatment.

(2) Consolidated financial position

Reference: Equity As of September 30, 2025: ¥242,405 million

As of March 31, 2025: ¥241,627 million

1. Cash dividends

   	Annual dividends per share
   	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Total
   Fiscal year ended March 31, 2025 Fiscal year ending March 31, 2026	Yen − −	Yen 54.00 37.00	Yen −	Yen 27.00	Yen −
   Fiscal year ending March 31, 2026 (Forecast)			−	37.00	74.00

   Notes: 1. Revisions to the forecast of cash dividends most recently announced: None

   2. The Company has conducted a stock split at the ratio of two shares to one share as of October 1, 2024. Dividends for the second quarter of the fiscal year ended March 31, 2025 are the actual amount of dividends before the split. The total annual dividends for the fiscal year ended March 31, 2025 are listed as "−" because they cannot be simply combined due to the implementation of the stock split. The year-end dividend per share for the fiscal year ended March 31, 2025, which does not take into account the stock split, will be 54 yen per share, and the annual dividend per share will be 108 yen.

2. Forecast of consolidated financial results for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)

   (Percentages indicate year-on-year changes.)

   	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent		Basic earnings per share
   Fiscal year ending March 31, 2026	Millions of yen 280,000	% 13.0	Millions of yen 28,000	% 20.9	Millions of yen 29,400	% 22.7	Millions of yen 20,000	% 20.8	Yen 165.89

   Note: Revisions to the earnings forecasts most recently announced: None

   • Notes

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

     2. Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements:

        Yes

        Note: For details, see "2. Semi-annual consolidated financial statements and significant notes thereto, (4) Notes on semi-annual consolidated financial statements (Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements)" on page 10 of the attached documents.

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

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

        Changes in accounting estimates: None

        Restatement: None

     4. Number of issued shares (common shares)

        As of September 30, 2025 126,479,784 shares

        As of March 31, 2025 126,479,784 shares

        As of September 30, 2025 6,151,812 shares

        As of March 31, 2025 5,594,372 shares

        
        
        
        
        
        
        
        
        
        
        
        

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

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

        Six months ended September 30, 2025 120,792,498 shares

        Six months ended September 30, 2024 125,539,943 shares

        Note: The Company has conducted a stock split at the ratio of two shares to one share as of October 1, 2024. Assuming that the stock split occurred at the beginning of the previous fiscal year, the total number of issued shares at the end of the period, the number of treasury shares at the end of the period, and the average number of shares outstanding during the period are calculated. The number of treasury shares at the end of the period and the number of treasury shares deducted for the calculation of the average number of shares outstanding during the period include the Company's treasury shares held by the trust for which the directors are the beneficiaries (98,400 shares as of March 31, 2025 and 98,400 shares as of September 30, 2025).

   • Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm.

   • Proper use of earnings forecasts, and other special matters

The forward-looking statements, including forecasts of financial results, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Actual financial results may differ substantially from the results anticipated in the statements due to various factors.

Index of attached documents

1. Qualitative information regarding results for the six months 2

   1. Explanation of operating results 2

   2. Explanation of financial position 2

   3. Explanation of forward-looking statements, including forecasts of consolidated financial results 3

2. Semi-annual consolidated financial statements and significant notes thereto 4

   1. Semi-annual consolidated balance sheet 4

   2. Semi-annual consolidated statements of income and consolidated statements of comprehensive income 6

   3. Semi-annual consolidated statements of cash flows 8

   4. Notes on semi-annual consolidated financial statements 10

(Notes on going concern assumption) 10

(Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements) 10

(Notes on significant changes in the amount of shareholders' equity) 10

(Changes in accounting policies) 10

(Notes on segment information, etc.) 11

(Business combinations, etc.) 13

(Subsequent events) 13

1. Qualitative information regarding results for the six months
   1. Explanation of operating results

      In the first six months of the fiscal year ending March 31, 2026, the Japanese economy maintained a moderate recovery trend against the backdrop of an improved income environment, inbound tourism demand that remained stronger than before the COVID-19 pandemic, and the settling of the U.S. tariff issue. On the other hand, the economic outlook remains uncertain due to ongoing problems in Japan, such as rising food and other prices, as well as ongoing geopolitical tensions in the world.

      In the logistics industry, the severe business situation has continued, with labor shortages becoming the norm as hiring difficulties persist, along with the ongoing cost related challenges of high labor costs and fuel expenses.

      Under these circumstances, the Group's consolidated net sales for the six months ended September 30, 2025 were 131,912 million yen, up 9.6% from the same period of the previous fiscal year, partly due to contributions from M&A that were aggressively pursued.

      Operating profit was 10,772 million yen, down 6.6% from the same period of the previous fiscal year due to depreciation of goodwill and intangible assets incurred through M&A and initial costs incurred when CHUOH PACK INDUSTRY CO., LTD. became a consolidated subsidiary, despite the effect of higher sales.

      Ordinary profit was 11,048 million yen, up 1.0% from the same period of the previous fiscal year, mainly due to a decrease of foreign exchange losses.

      Profit attributable to owners of parent was 7,201 million yen, up 6.8% from the same period of the previous fiscal year, due in part to a gain on sale of investment securities resulting from the sale of shares held as cross-shareholdings.

      Business results by segment are as follows.

      1. Transportation business

         Sales were 60,823 million yen, up 7.9% from the same period of the previous fiscal year, mainly due to an increase in cargo handling volume, optimization of collection fees, and contributions from the U.S. company Supreme Auto Transport, LLC, which became a consolidated subsidiary in May of the previous year. Operating profit was 3,706 million yen, up 27.3% from the same period of the previous fiscal year, due to the effects of higher sales, efficiency improvement of transportation, and the absence of initial M&A costs incurred in the previous year.

      2. Warehouse business

         Sales were 21,094 million yen, up 3.9% from the same period of the previous fiscal year, mainly due to an increase in the volume of cargo stored, which is the result of our ongoing efforts to establish or expand warehouses. Operating profit was 4,195 million yen, up 0.2% from the same period of the previous fiscal year, mainly due to increases in outsourcing expenses and depreciation despite the effect of higher sales.

      3. Packaging business

         Sales were 28,047 million yen, down 1.2% from the same period of the previous fiscal year, mainly due to a decrease in business volume at some consolidated subsidiaries. Operating profit was 1,986 million yen, down 11.6% from the same period of the previous fiscal year, mainly due to the decrease in sales.

      4. Test business

         Sales were 11,905 million yen, up 2.2% from the same period of the previous fiscal year, due to an increase in business volume. Operating profit was 1,690 million yen, down 5.5% from the same period of the previous fiscal year, due to increases of personnel expenses and depreciation of testing facilities.

   2. Explanation of financial position

      1. Assets

         Current assets as of September 30, 2025 totaled 85,735 million yen, a decrease of 1,280 million yen from the end of the previous fiscal year. The decrease mainly came from a decrease of 2,467 million yen in notes and accounts receivable - trade, and an increase of 1,265 million yen in other. Non-current assets totaled 347,444 million yen, an increase of 5,700 million yen from the end of the previous fiscal year. The increase mainly came from an increase of 5,354 million yen in property, plant and equipment due to the acquisition of land and buildings in Suzuka City, Mie Prefecture and Thailand, and progress in the construction of a warehouse in Kanda Town, Fukuoka Prefecture, etc., and an increase of 2,326 million yen in investment securities due to the market valuation, etc., while intangible assets decreased 2,494 million yen due to amortization of goodwill and customer-related intangible assets, etc.

         As a result, total assets were 433,180 million yen, an increase of 4,420 million yen from the end of the previous fiscal year.

      2. Liabilities

         Current liabilities as of September 30, 2025 totaled 55,341 million yen, a decrease of 21,299 million yen from the end of the previous fiscal year. The decrease mainly came from decreases of 17,984 million yen in short-term borrowings and 3,936 million yen in electronically recorded obligations - non-operating. Non-current liabilities totaled 131,236 million yen, an increase of 28,797 million yen from the end of the previous fiscal year. The increase mainly came from increases of 10,000 million yen in bonds payable and 17,685 million yen in long-term borrowings.

         As a result, total liabilities were 186,578 million yen, an increase of 7,498 million yen from the end of the previous fiscal year.

      3. Net assets

         Net assets as of September 30, 2025 totaled 246,601 million yen, a decrease of 3,077 million yen from the end of the previous fiscal year. The decrease mainly came from decreases of 2,067 million yen in capital surplus and 3,855 million yen in non-

         controlling interests and an increase of 1,884 million yen in treasury shares, partially offset by an increase of 3,934 million yen in retained earnings.

         As a result, the equity ratio at the end of the period under review was 56.0% (56.4% at the end of the previous fiscal year).

      4. Cash flows

         Cash and cash equivalents (hereinafter referred to as "cash") as of September 30, 2025 were 35,773 million yen, a decrease of 164 million yen from the end of the previous fiscal year.

         Net cash provided by operating activities was 19,209 million yen, an increase of 4,945 million yen from the same period of the previous fiscal year. Major factors having a positive impact on cash flow from operating activities included increases of 1,294 million yen in profit before income taxes and 2,514 million yen in cash flows from increase (decrease) in other liabilities, and a decrease of 2,099 million yen in cash flows from decrease (increase) in trade receivables. A major factor having a negative impact on cash flow from operating activities was an increase of 1,474 million yen in cash flows from decrease (increase) in other assets.

         Net cash used in investing activities was 17,774 million yen, a decrease of 9,483 million yen from the same period of the previous fiscal year. The main reason for this decrease was a decrease of 16,925 million yen in purchase of shares of subsidiaries resulting in a change in the scope of consolidation, while an increase of 7,041 million yen in purchase of property, plant and equipment.

         Net cash used in financing activities was 1,843 million yen, a difference of 8,307 million yen compared with net cash provided by investing activities in the same period of the previous fiscal year. Major factors contributing to the increase of outflow were an increase of 8,012 million yen in repayments of borrowings, etc., 1,160 million yen in purchase of shares of subsidiaries not resulting in change in scope of consolidation, and 4,205 million yen in purchase of treasury shares of subsidiaries. These outflows were partially offset by an increase of 4,000 million yen in proceeds from borrowings and a decrease of 1,116 million yen in purchase of treasury shares.

   3. Explanation of forward-looking statements, including forecasts of consolidated financial results

   As for the forecast of consolidated financial results for the full year, there is no change to the forecasts announced on May 9, 2025 based on recent performance trends and other factors.

2. Semi-annual consolidated financial statements and significant notes thereto

1. Semi-annual consolidated balance sheet

   (Millions of yen)

   Assets

   Current assets

   As of March 31, 2025 As of September 30, 2025

   Cash and deposits	36,784	36,631
   Notes and accounts receivable - trade	37,079	34,611
   Electronically recorded monetary claims - operating	6,302	6,390
   Merchandise and finished goods	153	168
   Raw materials and supplies	778	738
   Other	5,944	7,210
   Allowance for doubtful accounts	(27)	(15)
   Total current assets	87,015	85,735
   Non-current assets Property, plant and equipment Buildings and structures, net	126,131	130,998
   Machinery, equipment and vehicles, net	13,625	13,559
   Tools, furniture and fixtures, net	2,297	2,283
   Land	121,851	123,830
   Leased assets, net	300	275
   Construction in progress	7,956	6,570
   Total property, plant and equipment	272,162	277,517
   Intangible assets
   Customer-related intangible assets	13,495	11,932
   Goodwill	12,167	11,098
   Other	3,900	4,038
   Total intangible assets	29,563	27,069
   Investments and other assets Investment securities	28,031	30,358
   Long-term loans receivable	30	735
   Deferred tax assets	4,273	4,231
   Retirement benefit asset	655	710
   Other	7,065	6,860
   Allowance for doubtful accounts	(38)	(38)
   Total investments and other assets	40,017	42,858
   Total non-current assets	341,744	347,444
   Total assets	428,759	433,180

   Liabilities

   Current liabilities

   (Millions of yen) As of March 31, 2025 As of September 30, 2025

   Notes and accounts payable - trade	11,223	12,087
   Electronically recorded obligations - operating	4,296	4,346
   Short-term borrowings	20,466	2,482
   Current portion of bonds payable	10,000	10,000
   Lease liabilities	112	98
   Income taxes payable	4,779	5,255
   Provision for bonuses	4,984	5,053
   Provision for bonuses for directors (and other officers)	249	145
   Notes payable - facilities	51	48
   Electronically recorded obligations - non-operating	4,542	606
   Other	15,934	15,217
   Total current liabilities	76,641	55,341
   Non-current liabilities
   Bonds payable	40,000	50,000
   Convertible-bond-type bonds with share acquisition rights	22,105	22,097
   Long-term borrowings	25,743	43,428
   Lease liabilities	214	200
   Deferred tax liabilities	6,813	7,631
   Retirement benefit liability	5,196	5,311
   Provision for retirement benefits for directors (and other officers)	556	502
   Other provisions	14	19
   Other	1,794	2,045
   Total non-current liabilities	102,439	131,236
   Total liabilities	179,080	186,578
   Net assets
   Shareholders' equity
   Share capital	11,316	11,316
   Capital surplus	12,499	10,431
   Retained earnings	207,939	211,873
   Treasury shares	(10,473)	(12,358)
   Total shareholders' equity	221,280	221,263
   Accumulated other comprehensive income
   Valuation difference on available-for-sale securities	12,332	13,987
   Foreign currency translation adjustment	7,039	6,293
   Remeasurements of defined benefit plans	975	861
   Total accumulated other comprehensive income	20,346	21,141
   Share acquisition rights	152	152
   Non-controlling interests	7,898	4,043
   Total net assets	249,679	246,601
   Total liabilities and net assets	428,759	433,180

2. Semi-annual consolidated statements of income and consolidated statements of comprehensive income

(Millions of yen)

Increase (decrease) in provision for bonuses for directors (and other officers)

(108) (103)

Increase (decrease) in allowance for doubtful accounts (2) (11)

Increase (decrease) in retirement benefit asset and liability (217) (115)

of consolidation

Other, net (99) (5)

Net cash provided by (used in) investing activities (27,257) (17,774)

Cash flows from financing activities

Six months ended September 30, 2024

(Millions of yen)

Six months ended September 30, 2025

(Notes on going concern assumption) No such events occurred.

(Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements) (Calculation of tax expenses)

Tax expenses are calculated by multiplying profit before income taxes by the estimated effective tax rate. The Company rationally estimates effective tax rate based on projected profit before income taxes during the fiscal year, including the first six months of the fiscal year under review, after applying tax effect accounting.

(Notes on significant changes in the amount of shareholders' equity)

The Company acquired 557,400 treasury shares for 1,883 million yen based on a resolution of the Board of Directors meeting held on September 5, 2025.

(Changes in accounting policies) No such events occurred.

(Notes on segment information, etc.) [Segment information]

1. Six months ended September 30, 2024

   1. Information on the amount of net sales and profit or loss for each reportable segment, as well as information on the breakdown of revenues

      (Millions of yen)

      	Reportable segments					Other (Note)	Total
      	Transportation segment	Warehouse segment	Packaging segment	Test segment	Total
      Net sales
      Automobile	17,136	5,026	13,259	11,351	46,773	257	47,031
      Automotive parts	12,077	5,716	5,897	270	23,961	666	24,627
      Housing	8,005	1,731	3,994	-	13,730	77	13,807
      Agricultural machinery	2,251	946	492	19	3,709	42	3,751
      Food & beverage	995	1,321	404	-	2,722	7	2,729
      Newspapers & publications	2,350	0	-	-	2,350	-	2,350
      Other	13,575	5,240	4,345	7	23,170	2,008	25,178
      Revenue generated from customer contracts	56,392	19,983	28,393	11,649	116,418	3,058	119,477
      Other revenue	-	321	-	-	321	563	884
      Sales to external customers	56,392	20,305	28,393	11,649	116,740	3,621	120,361
      Transactions with other segments	190	150	258	5	604	1,196	1,801
      Total	56,583	20,455	28,652	11,654	117,345	4,818	122,163
      Segment profit	2,911	4,186	2,247	1,789	11,134	380	11,514

      Notes: 1. The "Other" category refers to business segments that are not included in the reportable segments, and includes customs clearance and automobile repair businesses. Interest income related to operating and non-operating transactions is excluded from "Other."

   2. The Company finalized the provisional accounting treatment pertaining to business combinations at the end of the previous

      fiscal year, and segment profit for the six months ended September 30, 2024 reflects the finalization of said provisional accounting treatment.

      1. Information on assets by reportable segment

         In the six months ended September 30, 2024, segment assets in the "Transportation business" increased by 20,998 million yen from the end of the previous fiscal year due to the acquisition of an equity stake in Supreme Auto Transport, LLC and its inclusion in the scope of consolidation.

      2. The difference between the total amount of profit or loss of the reportable segment and the amount recorded in the semi-annual consolidated statements of income and the main details of the difference (matters related to adjustment of differences)

         (Millions of yen)

         Profit	Amount
         Total reportable segments	11,134
         Profit in the "Other" category	380
         Other adjustments (Note)	22
         Operating profit in the semi-annual consolidated statements of income	11,537

         Note: Other adjustments are the differences that occur when you delete commercial and non-business transactions.

      3. Information on impairment losses on non-current assets and goodwill by reportable segment (Significant fluctuations in the amount of goodwill)

      In the six months ended September 30, 2024, goodwill of 3,792 million yen arose in the "Transportation business" segment due to the acquisition of an equity stake in Supreme Auto Transport, LLC and its inclusion in the scope of consolidation. The amount of said goodwill reflects a significant revision of the initial allocation of acquisition costs due to the finalization of provisional accounting for corporate activities.

2. Six months ended September 30, 2025

   1. Information on the amount of net sales and profit or loss for each reportable segment, as well as information on the breakdown of revenues

      (Millions of yen)

      	Reportable segments					Other (Note)	Total
      	Transportation segment	Warehouse segment	Packaging segment	Test segment	Total
      Net sales
      Automobile	22,726	5,425	12,735	11,568	52,456	2,218	54,674
      Automotive parts	12,488	5,881	5,845	325	24,540	3,032	27,573
      Housing	8,216	1,721	3,936	-	13,875	933	14,809
      Agricultural machinery	2,462	857	511	4	3,835	45	3,880
      Food & beverage	1,006	1,112	444	-	2,563	97	2,661
      Newspapers & publications	2,250	0	41	-	2,292	-	2,292
      Other	11,672	5,748	4,531	7	21,959	2,547	24,506
      Revenue generated from customer contracts	60,823	20,747	28,047	11,905	121,524	8,873	130,398
      Other revenue	-	346	-	-	346	1,167	1,514
      Sales to external customers	60,823	21,094	28,047	11,905	121,871	10,041	131,912
      Transactions with other segments	141	147	242	7	539	1,320	1,859
      Total	60,964	21,241	28,289	11,913	122,410	11,361	133,772
      Segment profit (loss)	3,706	4,195	1,986	1,690	11,578	(847)	10,731

      Note: The "Other" category refers to business segments that are not included in the reportable segments, and includes customs clearance business, and manufacturing and sales business of packaging materials. Interest income related to operating and non-operating transactions is excluded from "Other."

   2. The difference between the total amount of profit or loss of the reportable segment and the amount recorded in the semi-annual consolidated statements of income and the main details of the difference (matters related to adjustment of differences)

      (Millions of yen)

      Profit	Amount
      Total reportable segments	11,578
      Profit in the "Other" category	(847)
      Other adjustments (Note)	41
      Operating profit in the semi-annual consolidated statements of income	10,772

      Note: Other adjustments are the differences that occur when you delete commercial and non-business transactions.

   3. Information on impairment losses on non-current assets and goodwill by reportable segment It is omitted because it is not important.

      (Business combinations, etc.)

      (Significant revision of initial allocation of acquisition cost in comparative information)

      In the business combination with Supreme Auto Transport, LLC on April 16, 2024, provisional accounting treatment was applied in the first six months of the previous fiscal year, but was finalized at the end of the same fiscal year.

      With the finalization of this provisional accounting treatment, the comparative information included in the semi-annual consolidated financial statements for the six months ended September 30, 2025 reflects a significant revision in the initial allocation of acquisition costs. The amount of goodwill calculated using provisional accounting treatment of 14,287 million yen decreased by 10,495 million yen to 3,792 million yen as a result of the finalization of the accounting treatment. The decrease in the amount of goodwill was due to increases of 13,581 million yen in customer-related intangible assets, 302 million yen in software development expenses, 327 million yen in vehicles, 2 million yen in tools, furniture and fixtures, 80 million yen in deferred tax liabilities, and 3,498 million yen in non-controlling interests, and decreases of 137 million yen in investments and other assets and 2 million yen in buildings.

      As a result, the consolidated statements of income for the six months ended September 30, 2024 shows an increase of 10 million yen in cost of sales, a decrease of 155 million yen in selling, general and administrative expenses, an increase of 144 million yen in operating profit, ordinary profit and profit before income taxes respectively, a decrease of 2 million yen in income taxes, an increase of 147 million yen in profit, a decrease of 60 million yen in profit attributable to non-controlling interests and an increase of 207 million yen in profit attributable to owners of parent.

      (Subsequent events)

      (Purchase of treasury shares)

      At a meeting of the Board of Directors held on September 5, 2025, the Company resolved on matters concerning the purchase of treasury shares pursuant to the provisions of Article 156 of the Companies Act, as applied by replacing the relevant terms pursuant to the provisions of Article 165, paragraph 3 of the same Act, and implemented the purchase of treasury shares as follows.

      1. Class of shares acquired Common shares of the Company

      2. Total number of shares acquired 929,100 shares

      3. Acquisition period October 1, 2025 - October 31, 2025

      4. Total amount of acquisition costs 3,198 million yen

      5. Method of acquisition Market purchase on the Tokyo Stock Exchange

(Reference)

1. Resolution of the Board of Directors meeting held on September 5, 2025

   (i) Class of shares to be acquired	Common shares of the Company
   (ii) Total number of shares to be acquired	7.50 million shares (maximum) (6.20% of total number of issued shares (excluding treasury shares))
   (iii) Total amount of share acquisition costs	15.0 billion yen (maximum)
   (iv) Acquisition period	September 8, 2025 - March 31, 2026
   (v) Method of acquisition	Market purchase on the Tokyo Stock Exchange

2. Cumulative total of treasury shares purchased based on the above resolution of the Board of Directors (as of October 31, 2025)

   1. Total number of shares acquired 1,486,500 shares

   2. Total amount of share acquisition costs 5,082 million yen